2025-03-31-accounts

North Down Development Organisation Limited (A cornpany limited by guarantee) Report and Financial Statements Year Ended 31st March 2025 Charity no". Ntc 101257 Company no: N1017966

North Down Development Organisation Limited Reports and Financial Slatemenls For the Year Ended 31 st March 2025 NDDO Contents Page No Report of the directors Report of the independent auditor S18tement ol financia aclivilies Charily bal8neA8 sheel Notes fom)ing part of th8 financial sialements 10-13 Detailed Slalements ol Financial Aclivilies 14-15

Norfh Down Development Organis81ion Limiled Reports and Finanaal Sl8lemenls Forlhe Year Ended 31st Mard) 2025 NDDO Legal DlrectOTS (Truste•sl Mr l Thompscffl {Chalfmanl Mr Mislaircathcart Mrs M Smlih Mr G J Chlof Execullya & Coinpaiiy Seciétary Mrs L V8nc4 Reglster•d Olll¢e Enlerpr4se Hous Balloo Avenug Bangor Co Dthvn BT19 7aT Independent Aiidltor Bradley Accounting 8nd T8xalton charle￿ Cerbfied Acownt8nts & Reglstered Auditor SLMto 8, Fornauon Woths Mary18nd M8ry18nd Indu51Ji81 Eslate Ilygowan Road Belf851 BT23 68L Baiik•rs Danske B3nk 8elf£st Bu￿n￿$S Centre Dorwgll SoJ8re West Bell8st BT16JS 8oll¢ltors M¢Coubrey H¥id$ 61 Main Street Bangor 8T20 SAP

North Down Developmei)l Organisation L#niled Reports and Financial Slateinenls For Ihe Year Ended 31st March 2025 NDDO ort for the Director8, year end 31st March 2025 The trustees, i¢iho are also ijireclors ol Ihe tharity lor thts purposesol lh¢ Companles kl. submlt Ihelr8nnual report 2nd the Inand£l slalemenls independenlly remei'ied for th8 year ended 31 M8rcJ) 2025. The Imstees hav8 &dopted the Pro￿90nS of the Charitie5 Slalemenl ol Recommended PlaC￿"¢e (Charittes SORPI IFRS 1021 in preparing finÉnd81 statemenls ol thè tharily in accordonce i¥ilh the Financial Reporting Stsndard epplicable in the UK and Repubk of trel8nd. Ihe Charflies Acl {Norlhem Irelandl 2008 and The Charities (Accounts and Reports) Regula￿on$ (Northem Ir¢land) 2015. Slrttcluro. oovomancfj and Iiiaiiagenioiit NorLh Dovin Developmenl OrganIsa￿0Th Llmll¢d INDtK)I Iv8s incorpor8ted In 1984 atHI Is gov¢med by 11$ ni¢morandum and ¥rli¢1¢g of as¥￿8￿.0n.1l Is the Local Enterprise Dtsvelopmenl Agency for thÈ area havirtg been sèl up èy a ￿MpanY liniled by guar8nlee 8nd 8chieved d)aritBble status I'iith IIMRC In 2003. Charitable 51alus ivas achieved on 8th Oecember2014 I￿{h tha Cb8riiy Commission lor Northern Ireland- first LEA lo athieve thls. 1115 0150 8 rnember of Enlerprise Northem Ireland,. a parlnershlp ol enWpTiSe ￿nI￿¢S￿lIhICh prthryde a Nl I'Ada neh.ioik ol supwrt f(y prOSped"￿ s[￿ eslablished bu5tnesses who have thosen the entrepreneuri81 opb"on. NDDO forJJses on malntaining and ensurinu qtr81ily in all areas and il is of ulmosl imiNylan¢e and is reflected in the relevant 8wedilalions 01181ned by the Or9anisabon indu(Jing Ihe tranglion to the nth'i standard ISO 9001'.2015 8long willi individtjal $18lf acuedilalJ'on5 and Ir¥ining. The Org8nis3lion relnvesls any surpluses bad( inio Ihe ￿mmunity.. eilhei by pro¥i%on olaflorilableibiorkspace or through a wldé ranoè of tr8lnlng and d8veltspmenl courses. Oblecllv•s, Actlv5lles and Fulura Plai1$ The Org8nlsallon'$ maln objecUve9 a￿ ¢0 develop onlorpris¢ in ihe loGal Cour￿1 a￿a and asysl in Iho ¢reaiion. gnd relenllon, ol bu￿nesseS In the area 8nd to conb"nu• to viork in PArtnèrsllpi'iith olhÈr￿rtOm1e dèvelopmtnl organlsèlions. In or(lèr to proniola, and 8neourage new trA)Sin￿. Iho OrJanisali¢n prwdes a ranBe ol value added bvsntsss supp¢rt seNc£s Inc4ydino. bul not resbided lo, proigon ol managed viork8pace 8nd treining lor fulure enlrepreneur& Tho oblecbvesof (he Oroanisabon afe the promollon for the publi¢ t¢nefil ol uthn and rural regenerauon In the Council area of Ards and North Dovin by relief of povety in such w8ys as may be setn fil, the cel¢1 of unemployment, th• 8¢fv8ncement of edue3lion, trBining or reiralning, pa￿CularlY amon9 unemployed peopl8 and provide thern I￿(h iyortt oxpeiience. Ihe promgon ol fin8n¢lal end t¢chnlcal a￿151¥n￿ or tsu￿ne￿ a¢j1￿ of C￿nsul18￿cY in order lo prowid8 Ir8ining aiid ern￿Oymen1 oprrf)rtunilies lor vfiernployed peopla In &4s8s ol fin8nci81 or oihèreharilablè need Ihrouoh help in seuing up ihelr ovm busness, 8s8lsling eJ?sbng bu$lnew and th e4lion ol tralning 8nd employmentopportuiiittes by lh8 prow￿On olworkspace. building 8ndlorlaiid lor use crf) favOura￿e ierfti5. NDDO Is InvalvÈd In promalirtg entrèpreneurship aTrd Ifanslerrin9 bu￿ne$S ski11s8u05s all secticns of the IcKal communlly and does a gnifiunl amount of iyork in <JisaLfvanlaaed areas Tr Organisalion promdes 8 fange of Irainir.g programmes induding. but not roslricled lo, pre-slErt. 81arl-up. grthylh 2nd cmss LNyder- many of the proDrammes are almed alyoulh and proniollng enl￿p￿neUrshlP auoss all secbons ol th8 local cenimurrily, pa￿.£￿78rtY in Neighbourhood Reii6ival 8re8s and encouragemenl ol micro buslnesses lo be crealive. innov8bva gnd loAvard Ihlnkin9. Nt)00 are Ihe only local trainlng org8nlsaUon delivering a o)fflpl¢le portfolio ol programmes dedgned (o sup￿1 the buslness n￿d$ ￿, nol only slart.up l)u5iftesse4 bul alsogfoYAh bu4ne5S¢S. page I

North Down Development Organisation Limiled Reports and Financi81 Slalemenls For Ihe Year Ended 3fsl March 2025 NDDO Report of the Dlrectors for the year end 31st March 2025 Obloctlves, Aetlvltles Fulure Plans (eontSnu¢dl During th& year ending 31 Mafth 2025, lh8 Or9anisaiion 3clieved th8 folloyij￿-.- Go Succeed Stort 186 business plensand action plans COM￿aled- January 2024- Mafdi 2025 Go Suce•ed Grow 19 ¢lien15 1-2-1 menioring supported-Apnl 2024-March 2025 NI EESS 11 dlents {5 over largell ￿eel￿ng 1-2-1 monloiing surwrt vp lo 20 hour$8nd iYoIkshops 3 full tTme lob16 enTolkd on Go Succeed PfO9famni ENI Conx NDDO 8s a n)ember of ENI are involved in ihls buslness plallom and NDDO tsgntsnued to Signposl dienls i'rilhin the Ards orwj North t)oi'10 Borough Coundl Job Folr¥ NDDO conlinued lo be we5enl at a number oliob 18lrsi￿thjfi Ihe Borough. using the opportunlty lo promote Ihe nth'i IrdlThiro programrne Prlma Coiing¢1 NelwoTk 15-29 paitiripanI￿ ses4ons LMP Board Member-wJb C4ynmiitees tra1n1r￿1eMp￿yabllrty4.monIhty meat¥igSlevent￿OrkshOps Feni81g Peer Support N¢twork 12.1S y￿en- Yfftljy nehvorkln9 vJorkshq)8- 6 setslons Th8 Oroanlsalion has an over811 vlorkspa￿ wea 01109.846 sq ft offering 8 promslon of both wort(shop laeilitie8 and a ranga of oifics Avera9e (wJp?n¢y during ljie yearivas 85QA and tha TrnJstse$ continua lo believe Ihal th1$ 1$ a s¢￿tegIC parl ol the Orognlsglion's fulure. It Is the Trusle8s' intention to contlnue lo improve and develop thi5 very iMp￿tant afea ol th? Orqenisallon's operations and 8 programm& ol felu￿&shMenI and ieinveslmenl ivill coniinue. The board ale Slill inl8ndiRo lo e￿end Ihe Innolec bul due to maltsi Inueases in bvildinglmalerial o)sls and other laclors induding INI timeframes to build, Ihis has not progressed bul rem?in¥ high on tho prIo￿ty lisl.T81ksYiilh the bank ha￿ cnlinued and Ihey are s(ty)portive i¥hen the tifflelrarne perfflls. OcLupancy leve15 have deueased lo 85% - cost ol living ￿nIinUed to have impact on businesses and viith the uncertainly 811d costs many offieè ¢liÈnls left to ibioik froni home lo re{JU￿ overt)ead& A Ilsl of performance indicatorsaro indudEd wlhin the IS09001'.2015 Accrediiallon and Ihese are remevied on afi 8llnual basls. Prindpal rf5ks lo the Or4anis3tion are cwJp8ncy levels 8nd the COn￿'nued dedln¢ in trainin9 Income- current training on Ihe Go For11 Piogramme Is an exlension du8 lo finlsh in September. Appolnlrnenl ol Trustees Follu,•Ang thè fettnl merging ol Counolsthe ow)Iniment ofTnJstees refiecis fepresentstion Irom the Ards and Ntsrth Oth'in BoJough Counol. fruskes, who a￿ also direcior50f th8 charilable company for rhe purpose of ￿MpanY laiv. give Ihelr Ilma #nd expertise on a voluntary basis and play an active n>18 in the allairs ¢)f the Organisab"on. The Tnjslees net on a bl-monlhly basisi¥here all major decAsions In relalion lo Ihe 0rganls81ion aro addressed. page 2

North Down Developiment Organisation Limited Reports and Financial Statements For the Year Ended 31st Marcl) 2025 NDDO Raport of thè DlreGtors for the yoar end 31st March 2025 Triisteè Inductlon & Traliilng Prospeclwa Trustees 8re usuallyrecommended by exi$Uno Board membefs. and are Inmled lo meetviilh Ihe CINef Execullve and Chaliman vthen Iheyare gwen an Inslghl Into Ihe runnIt2g ol the Organisalion. Iheir obligabons. iihal Iheir role iwjuld be i'ithin Ihe Board and the 81n)s and objectives of Ihe Organlgallon. TIw8re Ihen inMle(I to allend a Board meeung In an obsen￿r capacity. before declding il Iheyimsh lojoln Ilie Board. Health arid Sal¢lylE4ual opporfunltl&$ NDDO adliere10 its Heèllh & Safetyand Equal Opporlunlty Polkles. iithlch are an Integial part ofils ISO 9001'.2015 Flnaiiclal rèvlew The fin8nclal reyul¢$ 8r¢ Set out on pages 7 10 12 and slalemenl 0freSer￿ kn tioie 10 lo these acccrtjnts. As ple￿OUSlY Inenloiied , NDDO succeede(l an a￿lage occupancy of 85% thr¢)ughoul Ihe year. Salaries and olher costs have 81$0 been oonlrolled a8 lar a8 P08sible ¢omb8bng i)cre851ng InllalkJn8ry yessures. 11 Is the pollcy ol the chafitylhal unre81rl¢ied reseTrr8 Ihal have not been deslgnaled for a parlkular purpose should be malnlalned al a level lo ensure Ihal In Ilie evenl of e S19nifi￿nt drop lrt Incon)e. jl iiAII be able lo ¢onUnue Ihe charivs curfenl acli¥iUes and debl repaym8nls, vknile ¢on8hYe181Ion Is ofven lo addrflonal lo r8lse Income. Slatfjmfriit of dls¢losure of Infomiatloii lo Indèpèndgnl 8¢counlaiil. We, Lhe dlreclors ol the comp8nyi*tho held olflcE al the date of approval ol these Flnand81 Slatemenls. as set out 8bove, eath Confirm so far as are ai¥are. Ihal.. there is no relevanl a￿untIng Inlomiauon olwhlcli tlie companys ey2mln8r are una¥wdre'. and 'rn ha￿ taken ell the $leps Iliali'.e oughl lo ha¥e 14ken a3 dire¢lors In Ofdef lo make ow8elves 8I'rdre of any relewnl accounllng Information 8nd lo esl8Wlsli11)at the eornpanys examlner are &vare of Ih81 Infofm8110n. Plans lorfulurè p•rlod$ 8iid Malor Rl$k8 The malor rfsk affecting lh8 company1.￿￿1￿ be a declkne wi the den)and lor prem15es tylhe company In the Ioc81 markel place. The Trustees hoi4Mver. are salisfied iMlh Ilie coii?panVs financlal PTO9￿3 duting It￿ ye#f. O¢cup811cy rale$1i8vo de¢fea5ed slightly durfng the year bul demand for iimJkshops remain strong and lh8 decrease reflec16 Ihe drop in oifice acconicKlalion. A numbei ol eydsling lenaiils noi41 I￿Sh lo develop their business lo a second level need larger space ithich i¥ encouraglng going for%'rdrd. The canipany Is funded Ihrouoh cash generaled byils reill81 act￿leS i4thich Iii Ivrn subsidise tlie training and sermces departmenls ol Ihe organlsallon. Tl)e ¢ompany has longer lem? financing in Ihe form of a fsxEd loan ihal i% secured unbl 2026- l.lien payrnei)155 completed 11?en Ihe¥e i'lll be no oulslandlng borrth'Ang$. The board liave d￿Cussed 1he fulure extension of Ihe Inmotec sile. Tlie development of Ihe organisations propetybase i4KJuld Bssisl in the creation and relei)lion of buslnesses In Ihe local area and ongoing developmenlof trainlng programmes and deliveryof same In paitneiship iyith olher local econornic development ofgan1s8￿￿s. page 3

North Down Developrnenl Organisalion Limited RetK)rts and Finènc481 Sta￿￿en{s Forthe Year Ended 31st fvlarch 2025 NDDO Report of tho Dlreclors for thè year end 31st March 2026 Publlc benellt 5taterneDt The tru$tees confirm thatlh6yhawtrwiplYd %￿th Ihewdutyas prestnTheil by se(1kn 4 Of chal￿e% Act (Nonharn Ir8Jandl 2008 10 hav6due reg8rd iotht Chtrrty CommissAJn for Naribem fweland pulknbenefil 0￿￿lanCe. The¢￿at￿n olernFloyrntnL tyginino and V4Drf( e¥be{￿e1￿ resWenish%w depthd are8S conse4Lnfy a red￿tk)n in p)verty. unemploymtnl aThl hardsh￿. leadiw lo a bel1erqualty￿I1& lorth8 bef￿r￿arleS and consequent improinienls heahh andivell babw. Enhanced knovAedge aboirt str1￿￿g up and rvnThkno smaH bu$lnesses8nd soclBI enityrprise$ reJullirvJ h irueasedlevels of selE-empSohmenl beltef praspeds ol sus1ain8tl8 dtsidopv￿eni. ￿trasedle￿I9 of 1￿￿1ed￿e and translernble ￿talK)nal sk115 8mong emfvSrt'￿(k trainees, asslsting th the creat4)n of a more ed￿ted, sk¢led and quaffftd communli y. A9￿21 Sense the benefKiaiies of more lulfilled urKI puTro$eful ITh￿$. rÉsLAtln • sAfer, more stsble 8nd ￿he$fve u)mmuDty. These benefiis can be eVAenced •? rets)rds kept by￿￿oU$ aoendes ol Ihe nuniberof lobs 8nd viotk o>p¢ri¢no op￿)[lUn￿leS ueated arjd numbersoffvse h3ve 5￿CesSI￿ty completed tsaining ts>bi£¢s. Ev,derKe n elso be found vi IndepetyJenl evaluat¥￿5 olthe aelNrttes ol enterprise 49ereStaI￿d by fthlw19 bod￿5 and in coniniunty suNeys ol IM5¥J StaThlArd5 8nd alb1￿￿e$. Soni6 pth¢ie b8nen ￿0bla￿ed bythe th'meJs of im8R bJ$lne$9es K,rt￿ reni unrfs on fai￿Ul$bIe tomis, but Ihls ks 8nc118ry 10 Ih•m8ln pur￿￿e8￿0 1$ greaty0￿￿1&hed bytr g•kns Lft p￿¢ benefrt. No harm ari598 Irorn these PUfPOSèS. Pfo4ish?Tr oflralnlng tsJVrse$vth￿th vill énabte lo avalof Ihe 8eK-emfAoyfftenl opl¥)n-Ihgse courses are Ire¢t ofcth8rga aTrl 8ome knelude th¢ eomV.¢lh)n ofa B￿51(5& Plan. Th& pur￿$9 of the trakniny and mentorirKJ 1% lo 8￿￿f$Ba 5¢)mpone ¢0 slBrt thelr im bU$￿e$S provitle$ them vi,Ih enough Infonnalv)n 8nd gui1grte lo briNJ Ihelr ￿e8 inlo Iruiti)n8nd eqvips Ihern i'iih Ihe lools lo run Iheir own busines¥. ThLs kn tuin boosls 8¢frf4nftraertc• artd self.beb8f8nd 81so can relva po%ty81 stsmtr ol tho 1rauil￿15 d￿ected spee4fuVytr>thoÈfj •) TSN or. ¥feas01depr￿a1m]n. c4n b9 f¢undwlhTN tha lo¢al Borough. Youro people are 818018rgeled 88 ¢%eryo4s ts SUW lo unfvotstyoremF4oymenl and p￿-Stsrt tr&lnw, loa￿7 delweled al cost 10 th6 patlKani. buts¢mollffles 8110 ha%iffj an ￿￿&da￿l￿n 8i¢a¢h¢d.15 10 8fthY 8 yOUThJ P8r80n to pursua seM-empl)￿￿enL Cttib'no Y.timen bsek ts)to ￿ik L8 also An ￿tt￿rtant part olthe Or98ntsgtYJn'$ r•mrt but no ¢n¢ls e￿l￿ded and lh• Qrgan1581YJn Lg CO￿tan￿ lo thipiov6aNI eklefid ils r8ffja of Piffjf¥mms hoiderto provth a compiehensNapioorgrnme ollrahlng It no Pro%4skin ofv.DJkspaca on sknF4a lemi$, wo%tsknnofstswes 8YPP)rt•nd an knp)rt8nlpartoflho OrganisÈik)n's r6Tnit- renlalffom ￿ev.￿￿Sp8r PmV4Si)n ¥llovA Ihe 0rgantsa1￿n to ¢th¢r¢ssgniL•l sernk$ 01 o mlrtknum co81 or ff88 of charo Any srnall surF4use$ org ￿kn￿Sted tn Iho Oro8nts•lb)n eluier byxl¢nskn orknprowmontol 8MbrvJ proparty. upgradèor $érYL¢s 8nd conbnued sw)port ror bus￿¢3$￿ inthe e8Jly 5t8ges. Th$ Tns$iees. are drn¥Yn Ifom the k)c81 commtthty, are passknalo. ihal Ir8Wtiig 8TrJ rnentorfNd. Is a ImrAJrtbnl Alptcl oflhe Oig8nls8Uon'sy.￿th and. i'th18 ieniBI ¥Kome Is feqvtred th order lo fin8n¢¢ th¢ traiiirrfJ, ft Is a fund8rnont81 part of tha OroanlsatK)n. Golng Concérii The organbal4)n'$ buslrt¢ss #rtM1105, together laclors Iikew lo aweclhs fulUredeve)￿7enI perfornarth Bnd po$ttvJn are ¥el oul The Truslees conskler thal4ppropiii1o It￿ of occup8ncy8re IILety lo be suSta￿ed Ihrowh Ihts concem foreskjhl pefKJd. on the bASi$ ofievel ofcwrrent lenarw8greemenls. As a consequerKe. the Twylees belK?w lha1￿16 companyts pTst¢d io mawe ￿ buslness ￿kS suttossfLW. de¥pite the£uffenl ecorthiathk. consklered the Jisks 8nd Ihts cAwrenlemThronrneDL the Tru$te8s hava a ¢eastn&L1oÈwÈdat￿n Ihal th8 organ￿al￿n ha8 ade9uate resources to t￿ntinue In operalbnal ehslerteoforllNg fore5eeat4e Att¢rdwJgty. lh8yc0nl￿uO to adopt the ootr¥J basL8 pr¢pawo the annval report&fyl atr4)unls. Indepandeill Audllor A re$¢lthN prop08ing Vwt Dfadley 8DJ T8Y21KJTrb& rwppotnled 05 8n bthpendenl 8Lxlrtor of th&tharhy i¥ll ￿ put ia th Annu#l Genirel Vieeung. page 4

North Down Developinent Organisation Limited Reporls and Financial Statements For the Year Ended 31st March 2025 bv Si H E S 5 Report of the Directors for the year end 31st March 2025 Trustee8 Responslbllltles Statoment Th8 Ifustees ale responsible for preparing Ihe Trtsslees Ai)nual Report and the financial slalements in accordance viilh applicable law alld United Kingdom Accounting Standards (United Kingdom Generally Accepled Accounling Praclicel- The lavi applicable lo charities in Northern Ireland requires the Injslees to prepare lir)8ncial slalenienls fof each linanci81 year vjhich give a Iiue and fair vi6iv ol the slate of allairs of Ihe charity and of the incoming iesources and application of ￿$oU[ces of the charily foT that period. It) preparing these finanelal stslenients, the Injslees are required lo.. select suilabla accounting policies and then apply Ihem consislenily: observe Ihe rnelhods and principles in Ihe Charities SORP 2019 {FRS102)' make judgemenls and eslimales that are reasonable and prudent., prepare the financial 5181emenls on the going concein basis Jjnless il is inappropriale to presume Ihal the charity ivill continue in ¢)peralion. The Irvslees are responsible for keeping proper accounting records Ihal disclose iiiilh reasonable accuracy al ai)y lin)è the financial position of the ¢harily and enable them lo ensure that the financial slalemenls comply viilh the Charilies Act (Notlhern Ireland) 2008 and Ihe Charities (Accounls and Reports) Regulations (Northern Ireland) 2015. Tha Ifuslees are also iesponsible for Safeguarding the assels of the charity and henrA for taking reasonable steps for Ihe prevention and detecllon of fraud and other irfegularilies. In 80 far as th8 Iruslees are awaie.. Ih8re is no relevant audit information of iiJhi¢h Ihe ¢harilablo comp8nrfs examinef is unaivare,. and the Iruslees have taken all steps thal they ought lo have taken lo make themselves avi8re of any ielevanl information and lo eslabllsh that tho auditor is aivare of that infomialion This report was approved by Ihe Board on tha Clialmian Ivan Thonipson paEe 5

IndependentAudltorfs Report toth2 Memb¥solNorthlTrowm Development(Wnlsatlon Lknlted NDDO Ve haveavdilEd Ihefjnanclal statemeAlsalNoith Down De¥ek)Nneni0￿anlSallonUm￿ed1￿￿'£￿arItabl￿[offlPanV1 fortheyearended31 March 2025 i¥hlchtompAsetheStaiemEnt of F￿a￿laI￿(t￿.'￿e￿.charilYB3lafflCeSheet andnDte5tothofrn>ncialstatements. TrxkndlnE slkniflcani accounting po11cles. The Onanclalieportill8lJèfflMLY)rkthathasbEerb•pthdln Ihelrprepa¢aUo Is appllcable lawa￿ UThlted Kingdomkcovrtting Stand4rds,including Financial Repoityngstandaidlollhefinanclal RepoilingStandardapp&cab'.eln IheUKand Republicollielandandiomprfsin8Charili2sS(NIP. Inour¢plnloftthe financlalstaiemenls.. qivta iiueand fzlrvlviofthesiateofihe£haritablecomwrfsalfalrsA53131 Maich2ts24.andof thslncomlryresources application ofre500rces. inLludiThglt51ncoffleand expenrfiture.fortheyearthenended.. have been prOper￿pIe￿ared in ic(oidancevAih Unltcd Kin8dom GenEi4IWAcceptedAccounlwgPrncltcv. •nd have been prepared In zccordancevhthlhe reqwefflenl5 oftheCornpanle5Art 2QO6. Basls loroplnlo Ve LonduLtod ouraudi( aciordance vhth Interna￿￿￿31 Standards4)n ￿tIl￿n￿luX}I1S￿s (IJKII andapp￿[ab1e1•vJ. OurresponslblliUes under thoso stathdardsare l¥rther dexribed lTrtheauditoriosponsibilitieslLYthtauditofthefinartclèl StateMe￿Se¢ll0￿ tsfouriewic Weare Independenlof the chariiablefompanylnaccordanceisfjih theeihltalrequirementsthal a￿releVANt0￿￿a￿l￿rofflhefinJnLIal5t3teMents In the UK.Inclvdln8ffte FAC'S EthlcalSl3ndard.znd li have fulfilledourolherethlcal re5PDn5ibililie51n acconSall<e1￿h these re4vlrcrnen& Ve belleve Ihat theavdh evldence K'e have obtalne4J Issuftl(lentafidapproprtaletoproTrAdea bèslslof 0￿r¢p5Th[9D. Cen¢luslons relatln4tO8olngtoneern InauditlnEthe financlal siaiemenis. viÈh3veeoncludeL¢thatthetf￿5the¢ use01iheeoln8co￿ern b￿lS013¢(0￿￿U￿1n the preparauonolthe nanclalslalement$15appioprlale. ased the%fjrk%¥e hève perfoirned,wE have norldeftiffiedanymatrrfal ￿rtaInlIe$re1èUThs[0 evenlsoicondillonsthat, l•dtOdualty or (olleLtlvety, mayiast sl8nificanl doybl onthe charilable compa0rfsa￿.tyto cont￿￿eas1 80kn8(on(ein tor¥ pvrlod•f •ll¢as11II'd￿monfhs fiom Ivhcn thÈ financialslattmenisareaulhori5edlor15sue. Our fo5ponslbllitle5 4ndthe responslbllillesollhetrv51ee%vAlhreSpe(Ito8olngw￿Wn11¢￿e￿rfbedsAthe relevonlsNllons¢lth151eport. Othorlnformaiion Thtotherlnformaiion comprSsesthe Information kncludedknthètrustees'annualfep)rL Otherthanthefiranclalsiaiemils3nd our udiiors'repoirihere¢n. The tiusTee5aie responslble loriheoiheiln1ormèi￿D. Otyropknlononthefknanclal slalemenisdoESnot cover hE olher Inforrn¥llon Ind. eycept lo IheextenlolheTh.A5eexplkll¥5ts1edkn ouriepoit.ViedorKstewessaThy loirn olass￿rarKe concluilunthereon. Our responsibilily lstotread thè other Infofmaiiothano. lrtdolrt8so.£tshilderi'Jbèlherthtother lrtformaiionls m8le¢lèllnconsl%ientvAthlhe flnan£lèl sièiementsor¢ur kO￿ledge obtalnedln Ihe course ofiheauditai oiheA'Aseappeais w bematerièltymlststed.lf 1denl1fys￿(h m¥teriil Incon515tenrleso¢ appareolmoterlal m5551alemenls. iveare required todeleimloei4helher ihl$8fvesilsetoa materlal m155¢atemenllnlh¢ fin3n¢ial sla¢emenlglhemielve&11,b35edootheiYoikiYe haveperfgrmed. I5￿COn(lude1hat Ihue15amaièdal mlssthiemtni¢lihlsoiher 1nlormillon.we are1eq￿lrediO reportlhatlact. We have nothln8to rewrtlnth15re8ard. OplDlons on other niattevs presedbtd bythèCompanlosA¢t 2006 In otsi oplnlon, based on thei1￿r￿ vndertaktnln Ihecowse of theaudll.. Ihe InForma¢lon8Nen In Ihetruslees, r¢wrt,whlchlncludesthel director¥ repoit ls<on$151enlWilhthtf￿ln¢141St￿I¢Mtn1$-. ènd the dlr¢tior< reportkn¢ludEdwiihlth thetvustees'ltporthavebEcn weparedlnaxtyd•nLei•hth•pphc4ltyl rewIren￿l5. Matiers on vihlch ive ai¢ reqvlred toreport by ¢¥fepiion In the Ilghtollhe k'noYded8eand Underslandingoftheih)ritable￿rn￿Ovaftd Itsenviromnent¢b¢4lnedlnth¢wr4fthÈaurt￿ rjat IdÉniified Mateiialmlssta￿m￿1Sln tho dirttors' reporlifitludtdi&rithifi thifu4¢ts' rtport. We hove nolhlngto rewrt In respect ofthe foll￿￿n8MattuSlQ ielatton I0￿11¢h IhetompiTrle5Acl ?W6rewlresu510 reportlu rf. In a￿1 uplnlon.. adequalearcDunlin8re<oid5 haye notbeE￿ kept. orretswn5 3dequaleloTourauéknba¥e not beenfÈ(ehed Irom branchesnotvisited byys.. or thehnanclal 5tdtemEnts•ie notlnO8feemenEwrth the attoufftl5n8t￿0rd58￿d return5- Of fcrtalTrd15c105vre50f Iryslee5' remuner•lionspe<lfledbylaware nol made.. or hbvo not roceNÉdaUtheinformtsiioM a￿dexpla￿l￿nS1ve[eq￿lref0TOW￿u￿rt I: or Aseypla5ned morefulWlnthetrustee5'Te5wn5iblll￿e$siateMÈrtsel0Vt￿n pa8Ès I-S the1￿stee$ arèiewrb5lj￿fQrlhe prepaRUonofthtflnanclal slatement5and for btlngsalisfied Ihattheywta tiueand fall￿#V.3Thd fors￿hi￿leI￿0lCQThifolJs1l1tlWslees￿et¢fMtfiels￿e¢e5Sary19 enablethe preparatlon of finaniialslatemÈftts ihal afefree fiom fflalerlalmlsslalomenl. ivhetherdue tofi4udororrar. In prepailnyihe finèrtdalsiaiemenis, rhe Ifusiees arerespothsib1efoTassossl￿tkO(h8TIlJbYe¢ompJThv'Sab1lrt¥1o￿hurI￿easa ￿l￿rnIKeT￿, dls¢lo$5ng. a5appllcakle.maiier5 related to golnEronrtsDand usln8iheEolr¢foTrceinb•51sof arcowungunle5sihe1rn5teesetth Intend to 11q￿,datelhe lhaiitab1e￿n1Pa￿y0rIoce3Se operattong orhavenoreali5ticatternativpbuttodo so.

Audltorrespoiislblllilesfor the audlt ol Ihe floa•clal stalemenls Ourobjecknves areto obtain feasonable assucance aboui ivhether the financial siaiemenls as awhole Ire free fiom mated31 rnlsstatemÈnt, vlhether due to Iraud oreiror. andtolssuean ¥uditorfs report thai kncludesour o￿ntOn. Reastjnèble assurancels ahl8h level of a55vrante. but Is noi38uarantee thaian audit condu(ied in accor￿anCe vAth ￿A5 IUK) ivlll alvjèys delect a material miss¢èlement Ivhen it ￿$t$. Misstètemenis can arise from fi¥vd or error and are£onsideieO mètertèl Ir. Indithduallyor In Ihe38gre8are.the¥ could reasonablybe eypÈrtÈd to Influerttt tho etonomlc declslons of userstaken onthe basls of ihesehJndal statements. WedeslÉn pr4xeduresln Ilnevriih ourTesponslbllltles. oulllnÈd above,to d￿e£l mateAal mlsslatemenls In respectof IrregularitlÈs, lntludln8fn￿d 8t<ause ol the Inherent Ilmltatlon5 01 an audil, the￿15 a r1skthatv￿l.hll not delecl al ir￿￿13￿111es, IrKludln8th05e leadiTr8 to a rnaterfll m15513lemeni In the flnanil31 statements ornan-£ompllante i￿th regulatlon. Thls 115kinriea5es thefflore Ihat complianie iijilh a law or 4r re8ulatlon Ss removed frorn ihe eventsand Iran5actlons refiected In the finanaa statements. as ille1￿11 be lesslikelyto become ai¥are of Instances of non-c¢mpllance. The rlsk15 31$0 re84rdinglrre8u13ritles occuNingdue to fraud rather than error, as fraud Involves Inten¢lonal concealment, forgeryi Coll￿$10n, om5$51on or rn15repft5entstlon. A5 Part ol an audlt In 3rrordancevJlth ISAS IUkl.iJt txertisÉ profe55lon31 judwnenl andmalnialn professIon￿ scepiidsm throuEhoui Ihe audlt. WÈ also.. Identlfy and a55e55 the rlsks ol rnaterfal ffl1551aternenl of the financlal stalernelll5. Ivheihef dbe iofraud or erfor, deslEn and perforni audit pr¢Keduros fe5poiislvé td those rlsks, and obialn a￿dI1 tviden£e thai Is suffitlentond appioprlate io prO￿de a l)èsI5 for oplnlon. Th2 rlskof rtol d￿1￿{17￿8 a material misstatement resultingfrom haud Is hlehei than fLvone1esvlii￿lrOM error, as fraud may Involve rollu51on, lor8eryi IntentlDnal oni1551un5. ffllsrewesenlatian5. ortheoverrfde ollniernal tontrnl. Obialn an und¢rsiandingol int¢irtal <¢rnirol ièl¢vènl to lh¢ aulil irt ordéi ¢0 d¢sl8n audii proced￿1¥ ihat afe appropilale In the drcurn51ances, but ndi for thèpurpose ol expresslN84fi opinbon on the effeates and ielaied dlsrlosures made bythe tru5tÉes. Conclude on the approprloteness ol iht trustees, we ofthe8oJr)B b•sls ol•¢¢wNtln8¥nd, b4s¢d on Ih¢au¢tht &4denceobialned, whelher a malerlil unceitalnly ex15tS felaled ￿ events or corwlltlon5 Ihat may ca51 sl6nifi(ant diubt on the chèriiable cornpansrfs abllilyto conlinueasa £¢lng concefTr. If %'. coTrclude Ihat a rnaleiial urKer¢•ifilYe￿$t5, we aieieqDlfed lo diav4atttniion In oui audiior's repoii io ihe rel•l£d d1sflos￿re5 In thelnènclal st•lemenls or,If such distlosures are l#•dequaie, io modify¢yr oplnlon. Our conrluslons afe based on thea¥tht evldence obialned vp io Ihe dateolwr avdilorfs ieporl. However. future even15 or cond511ons may cause Ihe<harfiablecompany 10 cease toconllnue 35 a Eolngconcern. Evaluate the overall pieseniaiion. Sir￿(lure artdcontent olthe Ilnanclal slalements, Iniludln8 IheJiscIosures. ènd whether Ihe Iln?nElal s14ternen15 rewesent the undtilylns iiansaitSons and e¥enis In a manner that a£hleves falr pre5en13tlon Ile. give5 a true and faIr￿e￿I. Ive fommuhl(alÈ &.A¢h Ihose tharged i•iith goYerfj¥nte régarding, mongother fft•iiers. the plat)ned scope and ilmln8of the￿dIt and s1801nconl oudil findlDgs, Indudln8 any 51gnlhcarbt defiilencle5 In Inlernal conltol th31 WE Ideniifydurh)g our •ULlit. Use ol wrrepoil Thls reportls made solely lo the rarltable cory3nV5 mefflbeis.35 a bodyln accordènceiiAth Ch3plef 301 Parl 16 of thE CwiponlesAIt 21XJ Our iudltivork hès b¢en undertok¢n so that i¥e rn18hl stateto Ihecharfiable compan¢s members Ih05e mèlter5 ive are requlred to s¢è¢e t4J the￿ In an 8uditoes report 2nd for no oiherpurpose. To the fullesi extent pem)iiied bylaw, Ivedo not accept or assvme responslbllltv to anyone other Ihan the ¢h?rllable carnpany •rtdthÈchadiable cNnpanrfs m¢rnbeffsas a body. lof 0￿r auditivoik,for th15 fepoit crfor thi oplnlons vJe have1o¥med. Mr Roftian Bradle￿sen10r SiatvéoryAvdltorJ onbeholJol8rodley Arco¥plAng pndroxvllon S¢oiiilQry ditor Sull ii*rylind B12J6BL page 7

North Down Development Organisalion Limited Reporls and Financial Slalemenls For the Year Ended 31st March 2025 NDDO statement of Flnanclal Actlvltles Umi•strlet•d Funds R•sltl¢tttd Fuiids Total 2025 rolal 2024 Noles Incoinlng Resour¢8s Incoming re￿urceS from generaled funds.. Investhient incorne 8.748 8.746 47& ExtraoTdln8ry In¢oni& Insurance incomo for flood 08m8g8 55562 Incotning resour￿ Irom tharilable acliwlles Tenant Incom8 Services 358.128 46.867 358.128 48,867 80.031 364.964 54,221 24.540 Tr¥lnlng Proor¥mma Govemrnenl SupFX>rt Total Incoinlng ièsoureo8 80.031 415,743 80,031 495.774 499, 7fj6 Resourc•8 èxpended Charilable acts"￿￿￿$ Eslabllshmenl ManBg&tnenl & Administration Extraordinary e￿endIture for fl¢xd dam8 Govérn8nr* costs Total resources expended 100.890 63.959 130.853 193.709 5&562 137,501 202.091 137,501 202,091 13,792 353.384 13,792 454,274 100,890 452.384 Not In¢oniliio r¢$our¢es 62,359 20.859 41,500 47,382 Net nioveinent In luiids Tr8nsler funds Fund balan￿ brought Yo￿3rd 01 ￿ri72024 2.168.294 297,288 1,871.006 1.823,624 Fund bBlaiic4s carrfod fO￿ard at 31st Mareh 2025 2.230.653 318.147 1.912.5D6 1,871.￿6 l of ths ÈbiJv8 results are derived from t¢nbrtulng acbmlies. A719aln33nd losses le￿jGnISed in the yearare Included above. There were no reco3nised galnsand losses lor 202S olherthan Ihosa indude(S in the profit 8nd loss acLounL page 8

North Down Development Organisation Limited Reports and Financial Slatemenls For Ihe Year Ended 31st March 2025 NODU Charlty Balance Sheel as at 31st Ma￿h 2025 Company Reglslratlon Number N1017966 Note.. 2025 2024 Fixed assets Tanglbla assets 2.520,135 2,619.226 Debtors Cash al bank and in hand 92.748 550.697 643.445 99.060 513,642 612,702 Credltors: ainounls falllng du& wltlili) one year 160,481 139,863 Net curreiit assets Total assets less ciirrent Ilabllltles 482.964 3,003,099 472.839 3,092,065 Credltors: amouiils lalllng du8 alt•r mora th8n onè year Not assats 16.662 2 986,437 3.016 324 Funds: Deferred capital grants 1.073.931 1, 145,318 Unreslricled funds General lunds 10 1,912.508 1,8TI,008 Deslgnaled fiinds Total fuiids 2,986.437 3.016,324 The directors ad(noiiiledgfj Iheir responsibililies for complying lilith th8 requirements ol the Acl iiiith respecl Io accounting records and the preparalion ol accounts. Th8 financial slalements on pages 710 12 were approved and aulhorised lo issue by the Directors and slgned on Ihelr behalf by.. Chalmian Ivan Thompson page 9

North Doivn Development Organisation Liii)ited Reports and Financial Slaten)ents For Ihe Year Ended 31st Marcl) 2025 NE)DU Notes formlng part of th& Ilnan¢lal siatomtrnts Accoui)Ilng pollcles Basls of preparatlon The finandal slalements have prepared underthe hislorlc41 cosl convenlbn. Tlw finawrjal slat8marits hava been prep8red In acconsance i¥ilh Ilie Charilks Slalenienl ol RecA)minended Pra¢bct (CbaiilS SORPI IFRS 102), Tha charit￿S {AcrA)unls and Reports) Regulalions (Norlhem Irela1￿) 2015 and th8 Charities Act INortlieri)-Ireland) 2008. lal OJ) Coinpaiiy status The chariiy 5s a company limlled by guaronlee. The members olthe company a￿ ihe Ifuslees named on the'Legaf' page. In Ili¢ ¢vent of Ihg ¢h4rity being wound up, Ihe liabli iy In fespeclol1118 ouafanlee is fmlled lo £1 per memberof the ch8Thty. (cl Fund ac¢ountlno General lunds are unresliicled (unds %iihlcl) are awdilable for use ai Ihe dL%rellon of lh6 Irusle8s In Iwllierart8 of Ihe gener81 objeclw6s of ihe charily gnd iiihth have nol been d¢s￿nated for other purposes. Designated lunds comprlse unresiricled lunds iliat have been set aslde by fv twste&s lor partkul8r purwses. The aifti and uso of eacli des￿naled fundls set out In Iha notes lo the financi41 slalements. Reslricled fytKfs arts luiids iiihlch are lo be used In accoi"danc& th spedfstt feslr4Ctfons Imposed bydonors or %iilKlI have been (8lsed by Ihe cha17ty for parti¢ular pvtposès. Tli8 rA5510l raising and 8dnilni51erfno sucli funds are charged agalnsl tha specinc fund. The aim and use of e8eh resliicled fund Is sel out In the notes lo th finandal slaien)enls. Inveslmenl Income and g8lns are aihxaled to Ihe apW0￿181e fLlld. Ii)¢oinlng re$our¢¢$ All Inci)n)Ino resour¢68 #fe kncluded in the SOFA iihen ￿ diarfty Is kgaty enllled lo Iha Income aTvJ tha amount can be qvaiilified iiiith reasonable accuracy, exdud8s VAT 8NI o1herdisc4j￿I Renlal Incoiii8 is generaled Ihough Ihe ￿9£0 of prwnlses thyned by ihe organlsalbn. IrKoTr)91siecognlsed evantyover the perfod of Ilw leasè lemi. TtalnlThJ InC￿me Is for the se￿¢¢$ pro￿ed lo enlreweneurs i¥Jlhln Ihe oroanlsaihy)'s area ofoperallon and18 rwnlsed vthen th8 seTrice ha5 been ￿rnp￿le￿ h acLordanca viith Iha proorwxme dilectkn￿. Capftal grants rece5¥ed In iesp8cI of Iha 8¢4ulsilk)n or¢onsIrL￿U0n offixed a￿ts are C￿d￿lI to delerred capS¢8l granls In Ihe ba18n Sheel 8NI are released lo Ihe income and expeNSilure a￿￿)1 over Iha uselul e0)1￿MiG ￿le of the assel foribih5ch Ihe oranl was a%Yarded. Idl {el Résources 8%￿nded Afl expendilure Is actouftled for on an aclwals basis and11os been d8&8ifÈd undor headings that agureg81o all ￿$18 felaled lo the category. Where costs cannot be dlcecty altribule¢J lo pgfiicul8rheadwos they have been all¢xaled lo acliTrMlies on a basls conslslenl vAlh us8 011118 resour¢es. Tr8lnlro seNces and cosls ara r8¢ryJnls81I vthen Ineurred and are ￿11 deTerred un￿1 relevant ptrpJiamme has been completed. io Tangll)le ftxed assel8 Rnd depr8clatloii The Company l?okJs properly piimarily as a w4)l￿benefit éntrtyl¢KthÈ bènefil ol lo$leMg busTnesse& Propety has betn dassrfed as tangible fjxed assels 8nd nol 8$ Investment pfcyerty on acuJid8nce wilh FRS102. Where thern has been syJllific2nl refuiblshmenlcosls IrKurred. ￿se are I￿le￿ ascapitAI hi)provemenl4 and depredaled in 8￿r￿an¢t iiiilh the poli¢y raies vsed beknbi. Depre¢lalion 1$ pro¥Kled on 8U Iwott)le (Lxed awls al rates (>kulated lo vule off the cos1￿) g straight ling baslg overthelr ey4)ecled Useful economlc INes as lolloilis". Lono leosehokj iaThJ Buiklings & offices 2%_ 3.33•A stralohl fine 2'h slraight Ilne i¢r/. 201• slfaiohl lir 25Yo slra gl?1 Prop8rty dispos815, I'ihele the directors feel that proceedsare Imniaterfal to the overall value of th8 land 8MI byiklings. 8re credtied fosg lo the fixed asselsiiilt1ioulla￿ng lh6 nel pr£￿￿{1$ Ihrough Ihe proA and loss account. Fixtures & Flliings Molorvehkles page 10

North Dow Development Oiganisation Liniited Reports and Financial Stalenienis For Ihe Year Ended 31st March 2025 NDDO Notè& fomilng part of flnanclal slat8ménl$ Accountiiig policles {contli)ued) Taiiglblo Ilxed assgts aiid dopreclallon Depreclalion Is not cliarged on 855ets in IIIE Course of conslwciton 8nd a lull charge forlhe year Is niade for assets brought inlo se rdan¢e vthlh Ihe pollcy8el oul above. i'ill) the rel8led granl crediied to a deferred capital grai)l 8ccouI)l and Teleaged lo the Income and e4)enditure account over Ihe eypecled useful econom[¢ life of Ihe ielaled assel. A reviei'i lor Imp8iiirient ol a r￿ed assel Is cafrled out11 e￿nIS or cl)anges in clr¢unislances Indtcale that Uie carNng amount of Ilie fLYed assel m&y nol be fewve¥able. (fj Igl Ponsloii costs The company operales 8 defined contrtbuuon scheme for Ihe benefft ofils employees. Th8 fA)sls of conlnbuuons ortwillen off agalnsl profrts In Ihe year they 8Te payable. Cagh arid e83h •qulvalent8 Cash Is ￿presented bycash In hand al￿ deposlts %iAlh financFal Insbiulkn)s repayable I￿lhoul pen81tyon nollcB of not more Ihan 24 hours. Ihl Fli)an¢lal Inslrnments The Comp8ny only enters Into baslc flnandal Instruments tran88Ctions thal resiill in ihe recogniLpon of fin8ncial assels and 158billlles Ilke trade ond other accounls recelvable and payable, loans (rom banks and other third parbes. Debt In3lrLsmenls {olher thon Ihose i,th0lly repaydble or reeewable ivilhln one ye8r). Includwig loans and other accounts recefvable and payable, ar8 Inillally n)easured al present Ydlue o(the fulure cash noi¥6 and subsequenlly al amortlsed cost uslng Ihe effeclh* Inleresl method. Debt Inslrumenls th81 are payable OT receivable imlliin ¢)ne year, lypl¢ally If8de payables or re¢elvables, are n)easured, Inlllally and gJbsequenlly, at th8 undiwunled amount of the ¢ash or olher conslder81ion, expected lo be or iecelved. 2 Total rgsources expended Other dlfecl cosls Indude= 2025 2024 Audllors, Fees Depreclalbn- on ovmed assets Capltal Giants released Loan Inleresl 5.280 116.165 71.388 3.033 1,800 120.497 71.388 4,354 3 Dlr¢¢tof reniuiierallon The Dlreciors neither received nor K'Kfftii anyemolumenls during Iho year {2023.' £Nill. 4 Staff Costs 2025 164,841 9,469 10,111 2024 156,320 8.305 9,891 Wages and 8alaries Sodgl security cosls Defined Penslan costs The average number ofemployees. calculated on a full-lime eqU￿a]e￿I b8sSs. analysed by function i¥ds'. 2025 2024 M8nagement and adminlslralion Tralnii)g There was one employee recebbEd a salaryol£80.000 for Iheyear. page 11

North Down Development Organisation Limited Reports and Flnaneial Slalemenls For ihe Year Ended 31st March 2025 NDDO Notes lormlng part ol the Ilnartelal 8talements 6 Tanglhle flxed assets Lon9 Leasehold Land Fbxiures Flllings & Equipment Building% & Adap1alm￿ Fl.lech Units Motor Vehides Tot81 Cost At 1 April 2024 Addltlons Disposèls At 31 Uarcli 2025 164,355 5.179.218 17.074 3￿.431 185.484 34,005 5,873,091 17.074 164,363 5.196,292 329,431 165,484 34.60S 5,89D,165 Depreclatlon At 1 Aprfl 2024 Charoe loryear Dlsposals At 31 March 2025 2.921.488 192.074 131,073 8.652 3.253.86S 93.988 6.588 6,038 8,851 118.185 3.016.454 198.662 138,611 17.303 3,370,030 Nel l)ook value At 31 March 2025 184,353 2.180,838 130.769 26,873 17.302 2,520,136 Al 37 Alarch 2024 164,363 2,257,7S2 137,357 33.811 26,9S3 2,619,226 Valuallon The twilding$ ￿•10st valutsy ItYJep￿bjw1lY dwing J8fiugry 2018 by Klr. Mark AlcKJnstry MRICS & fvlr steph￿ D8yerniond IIRICS ol TOK Commefdal PrO￿Y Consullanls. In thdr 0￿￿10n. Ihe lalr valualiu) of the ￿0p￿tte5 i'rds £3.300.QOO. The InJ$lee3 forn) on 'oplnlon that as Ihe economy is Imwoving and Ihe Induslrtal WOFwly maikei r&overtng. Ihe 0jry￿l hlstoric nel twk values carri&J In Ih&88accounls 8re nol Inappropriate., 2nd they do not conslder Ihal a fevalu8lJon Is luslifi&J given thè IMpr￿Ang market. LeaBeliold Land Purchase ol land Vd5 aqu1￿ from IDB on a 999 yearleaw Th#è1g no oround iert payable. Them am r6s1rtcts¥e coven8nl8 pl4ce on Ihy ol Ihe18nd lor ￿1￿￿$¥ use OAY. Cai)1181 Commllments Ca￿181 &xpenditurÈ tonlro¢lpAI for, bul not pro￿d￿ In the finendal s10￿m￿ls. itag £ Nil 12024-. £Nill. Oèbtors 2026 1.752 59.241 31.755 92,748 2024 1.721 62, 122 34211 99,060 Tiada debtors Olher deblors-AttNed Inc(The P￿payrn￿ts and oth¥ 8cuueil In￿rne Credltors." ainouiits falllny du& vAllilii ￿16 year 2025 9.442 14.798 20.707 17.430 39.025 59.079 160,481 2024 39,054 4.885 20.255 7.590 Trade ¢redllors Taxation and socJal secualy costs other uedltor3-AdV8n￿ Rents Ac¢yuals and defwred Inu)me Payments onAccounl-Enlerpn"sa Nortlwn Ireland Lld Loang and oV￿drafls 59.079 139.863 page 12

North Down Developmenl Organisalion Limited Reports and Financial Slalemenls For the Year Ended 31st March 2025 NDDO Note) lormlng part of thè Ilnanclal statements 8 CrodltOT8". oniouiils l&lllng due alter more than one y8ar 2025 16,662 202 75.741 Bank Lo3ns due p5 lolk)iYs'. In tlie second lo fifth Year1￿lUsIVe More fivd years 16,662 75.741 Tolal boNovJlngs are secvred by a leool m¢rtg•cÈ on Ihe companls pienilses. a [￿ed charoe over book debls, and a ffloalino th3rge on tjie olher 8ssels ol tliè ¢ompany. The compgny conibiwj its fixed and Iloaiing Interest rAlè klans inlo a slngle account Èl a IBie of 1.5°/ on Ilie presenl lendlno maroln ¢u¢renlty 81.75%. loan isdu8 to be repatd In 2028. 9 0¢l¢rfod ¢apll81 grants 2025 2024 and & buildl Al Jf March 2025 1,145.319 1.218.70T eleas Al 31 March 2025 71.388 1,073.931 1, 145.319 Tli8 Capital oranls to 8sslsl bulWlng Ih8sè unlls had c(rtxlft1o￿ allached. p￿ al￿ p0s1compe￿Qn. These iiiere lulfiled wrfihln Ihe linits limi18 varialirwj from 5-6 yeaJs aller Ilie grnnli'ias ai'iarded. The grants are r￿1 repayabl8 Iheresrter 8nd 1118 organisal￿n Is free to dlspose ol them i'ill￿ul relumln9 any Ihg Pl￿￿e￿8. 10 Stbtoni8111 of fulld8 At 1 Aprll 2024 At 31 Mai¢h 2026 Incomé Expondlturé Transf•r8 Genero1 reseNe 2,168,294 415,743 353.384 2,230,653 Tolal uiir6strlcted lund8 ? 168 294 415 743 2 230 663 ReslrlctÈd fund$: Tialnino 29T.288 60,031 100.890 318.147 Total roslrlcted funds 297288 100 890 318 147 Toial lunds 1871 006 495 774 454 274 1812 506 11 Flnaiiclal Iiistrunieiits 2025 2024 Finandal assols Flnancial assets measured 81 f8W VRlue through profrt orloss 550.697 513.642 Flnaiidal rwbif￿ieS Flnandal Ih2bttlies Ineasured al arnorlised eost 123.320 209.047 Flnancial assets ni6asured al amortlsed cost cornp￿ ￿sh In hand and bank. Flnandal Llabuilles rneasured al 8mL¥lis￿ ¢oslc4)mFYise bank8nd asset kjans. trade c￿11014 arnl sundry credAors. page 13

North Down Development Organisatlon Limited Reports and Financial Statements For the Year Ended 31st March 2025 l￿Di)0 OeiallÈd Statement of FlnJn¢ial Acilvitles Unréstilcied Restrlcted Total Funds Funds 2025 zo24 Incomlng Resources resources from InleTest recelved eneia 8,748 8.748 479 Incomln rèsources from Tenant Income Neiv bulldSng iyorkshops New bulldlng offlces Hi-Terli unlls Orlglnal bulldSng Ini)otec Drive IBuslness Vlllagèl 73,522 21,585 32,210 138,608 92,203 358,128 73,522 21,585 52,210 138,608 92,203 358,128 76.767 26,085 29,616 141,363 91.133 364 964 Servlces Actlvltles Teleplionè Photocoples Eleclrlclty Receptloiilsl Water Rates PostaÉe Room Hlre 323 323 365 27.S06 11,871 5,760 1,068 2,332 48.867 27,506 11,871 5,760 1.068 2,332 48,867 32,764 13,286 5,970 740 1,095 rraining Explorillg Enterprlsè NIESS Go Succeed start Her Up Workshops Go For It ENI Start Up Loan Mentorine 3,428 76.503 3.428 76,503 1,713 22,427 400 loo 80,031 80.031 Extraordiilary Iiicome Insurance income for flood damage 55,562 Tolal IncomlnE resources 415,743 80.031 495,774 499.766 page 14

Notth Doiiin Development Organisalion Limited Reports and Financial Statements For the yearended 31st MaTch 2024 Dètallld Stai¢m¢ntof Fknan¢lal A¢ll¥lNes lknr¢$td¢fttd Restrtcled Tolal Funds Funds 3025 2024 Rosourees oxp•tJd•d Chknlauè achmt￿$ trai Wa9es & Sala￿ NIC ernpbyels Pen8h?n -TiainiTrJ 44.697 2.894 1.527 51.772 44,697 2,894 1.527 51.712 41.033 2.445 1,424 15,465 3.051 Cosls 100.890 100,890 63.478 E$18b1￿hrnent Waler Rates 4.482 54.838 34,931 30.748 1?.043 461 4.182 54,838 34.931 30.740 12,043 461 3,790 73.358 33,419 18.726 p￿er 8 L¥ht& He8¢ Cl¢anlr4J Inyuran￿$ Rep81rn & m8knlenance 137.501 137.S01 139,70T 1tr8 Wages & 82tsriei NIC empkjyerfs 120,144 6.575 8,584 1.600 6.146 3.000 1.174 3.033 116.185 120.144 8,575 8,584 1.SQO 6.146 3.090 1.174 3,033 116.165 107.240 5.245 4219 1.Q75 5.929 3.146 1.08) 6,609 127,293 14.626 71,388 AdirUslng Telephone. f8x& Inlemel Po$14g• •nd $laibnery C8rand tra¥ Flnance CO18 Dewe¢i4lx)n PA on dFspos818SS¢t DèlerrÈd gianls reka%d Bod debt Pw￿$￿)n 1￿CellaneOuS 71.388 71.368 7.068 202,091 7.Q88 202.Q91 2.467 1Jl.484 G0￿ManCe cos EyAmuiÈ¢slAud(¢ Fe•x Book keeph Profess￿nal 5.260 4,960 3.S7? 13.792 S,260 4,960 3.572 13.792 1.800 4,140 1.780 7.690 Extraordin3 endituro Repalrs In relatlon to flood damag¢ Tolal rosources expended 353,284 100,890 454.274 392.2S9 Tolal Incomlng ro$ouT¢¢¥ 415.743 80.031 49S.774 499,766 Net Incomlng r8$our￿9 82.J59 20A59 41,600 107.467 p38e IS