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 <YBoyle
k J MLNltgom¢ry
Mr Sl¢phen Holyvicty>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,
pro*igon 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¢j*1￿ 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$8nd iYoIkshops 3 full tTme
lob16 enTolkd on Go Succeed PfO9famni
ENI Conx
NDDO 8s a n)ember of ENI are involved in ihls buslness plallom and NDDO tsgntsnued to Signposl
dienls i'rilhin the Ards orwj North t)oi'10 Borough Coundl
Job Folr¥
NDDO conlinued lo be we5enl at a number oliob 18lrsi￿thjfi Ihe Borough. using the opportunlty lo
promote Ihe nth'i IrdlThiro programrne
Prlma Coiing¢1 NelwoTk 15-29 paitiripanI￿ ses4ons
LMP
Board Member-wJb C4ynmiitees tra1n1r￿1eMp￿yabllrty4.monIhty meat¥igSlevent￿OrkshOps
Feni81g Peer Support
N¢twork
12.1S y￿en- Yfftljy nehvorkln9 vJorkshq)8- 6 setslons
Th8 Oroanlsalion has an over811 vlorkspa￿ wea 01109.846 sq ft offering 8 promslon of both wort(shop laeilitie8 and a ranga of oific*s
Avera9e (wJp?n¢y during ljie yearivas 85QA and tha TrnJstse$ 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 n*et 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$tees confirm thatlh6yhawtrwiplYd %￿th Ihewdutyas prestnTheil by se(1kn 4 Of chal￿e% Act (Nonharn Ir8Jandl 2008 10
hav6due reg8rd iotht Chtrrty CommissAJn for Naribem fweland pulknbenefil 0￿￿lanCe.
The¢￿at￿n olernFloyrntnL tyginino and V4Drf( e¥be{*￿e1￿ resWenish%w depthd are8S
conse4L*nfy a red￿tk)n in p)verty. unemploymtnl aThl hardsh￿. leadiw lo a bel1erqualty￿I1& lorth8 bef￿r￿arleS and
consequent improi*nienls heahh andivell babw. Enhanced knovAedge aboirt str1￿￿g up and rvnThkno smaH bu$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 49er*eStaI￿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 rel*va 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 patlK*ani. 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$, wo%tsknnofstsw*es 8YPP)rt•nd an knp)rt8nlpartoflho
OrganisÈik)n's r6Tnit- renlalffom ￿ev.￿￿Sp8r* PmV4Si)n ¥llovA Ihe 0rgantsa1￿n to ¢th¢r¢ssgniL•l sernk*$ 01 o mlrtknum
co81 or ff88 of charo
Any srnall surF4use$ org ￿kn￿Sted tn Iho Oro8nts•lb)n eluier by*xl¢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 ecorthi*athk.
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 Otherthanthefir*anclalsiaiem*ils3nd 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¢lèl*lnconsl%ientvAthlhe flnan£lèl
sièiementsor¢ur k*O￿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•pphc4*ltyl rewIren￿l5.
Matiers on vihlch ive ai¢ reqvlred toreport by ¢¥fepiion
In the Ilghtollhe k'noYded8eand Underslandingoftheih)ritable￿rn￿Ovaftd Itsenviromnent¢b¢4lnedlnth*¢wr*4fthÈaurt￿* rjat
IdÉniified Mateiialmlssta￿m￿1Sln tho dir*ttors' reporlifitludtdi&rithifi th*ifu4¢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$51on or rn15repft5entstlon.
A5 Part ol an audlt In 3rrordancevJlth ISAS IUkl.i*Jt txertisÉ profe55lon31 judwnenl andmalnialn professIon￿ scepiidsm throuEhoui Ihe audlt. WÈ also..
Identlfy and a55e55 the rlsks ol rnaterfal ffl1551aternenl of the financlal stalernelll5. Ivheihef dbe iofraud or erfor, deslEn and perforni
audit pr¢Keduros fe5poiislvé td those rlsks, and obialn a￿dI1 tviden£e thai Is suffitlentond appioprlate io prO￿de a l)èsI5 for
oplnlon. Th2 rlskof rtol d￿1￿{17￿8 a material misstatement resultingfrom haud Is hlehei than fLvone1esvlii￿lrOM error, as fraud may
Involve rollu51on, lor8eryi IntentlDnal oni1551un5. ffllsrewesenlatian5. ortheoverrfde ollniernal tontrnl.
Obialn an und¢rsiandingol int¢irtal <¢rnirol ièl¢vènl to lh¢ aulil irt ordéi ¢0 d¢sl8n audii proced￿1*¥ ihat afe appropilale In the
drcurn51ances, but ndi for thèpurpose ol expresslN84fi opinbon on the effe<ii¥eness olthethèrftable companrfs Intein31 conirol.
E￿I￿ale the appropf13¢erye55 of aiiountingpall(Ses vsed and reas￿￿bIeness 01 ekllrr>ates and ielaied dlsrlosures
made bythe tru5tÉes.
Conclude on the approprloteness ol iht trustees, we ofthe8oJr)B b•sls ol•¢¢wNtln8¥nd, b4s¢d on Ih¢au¢tht &4denceobialned,
whelher a malerlil unceitalnly ex15tS felaled ￿ events or corwlltlon5 Ihat may ca51 sl6nifi(ant diubt on the chèriiable
cornpansrfs abllilyto conlinueasa £¢lng concefTr. If %'.* coTrclude Ihat a rnaleiial urKer¢•ifilYe￿$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 Ihe*JiscIosures. 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 r*arltable cory3nV5 mefflbeis.35 a body*ln 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 (Cbaiil*S 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 i*ihen ￿ 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 <Juring Ihe year. No chafge Icr(leprwalion Is made in Ihe year in vknkh an asset Is dlsposed ol.
Where buildings and equipnieril are acqulred with the ald of spe¢rfic grants. Ihe assels are capiljllsed ancl dèpreciated In
ac¢(>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. i*tag £ 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
Adi*rUslng
Telephone. f8x& Inlemel
Po$14g• •nd $laibnery
C8rand tra¥
Flnance CO*18
Dewe¢i4lx)n
PA on dFspos818SS¢t
DèlerrÈd gianls reka%d
Bod debt Pw￿$￿)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