13allykeel Ilusincss l)cvclopment Ltd Statcmcnt of Financial Activities for the Ycar Ended 31 Marcli 2023 (Including InLonie and li xpcnditure Account and Statement of 'fotal Ilec()gnised Gains and Losscs) Uni-esti-icted funds 2023 Notc Inconie <in(I b'ndowments fi-om: Charitablc activities 72.165 72,165 Total ineome 72,165 72,165 Ii'xpenditui-e on: Charitable activities {114,OJ8) 114,038) Total expendilurc (114,038) (114.038) Nci expenditure (41,87J) (41.873) Nct movcmcnt in funds (41,873) (41,87J) ElcconeiliAtion of funds -rotal funds brought forward 1,002,?90 1,002,?90 l oial funds carried forward 960,417 Uni-cstricted funds 960,417 "I'otal 2022 Iiicome Endowmcnts fi'om: Chdrilable aclivilics "l otal incoinc EYponditui'¢ on: Cliaritablc activitie5 (101 ?47) (101 ?47) Tolal cxpenditurc (101.2471 (101,247) Net cxpcnditurc (26.868) (26.868) Nct movement in fund5 (26.868) (26,868) Ileconciliation of funds '] olal funds brouohi forward 1,029,158 1,029,158 'I'ol11 I funds carricd forward 12 1.002,290 1.002.29) All of the charit$ activitics dcrivc from conlinuin(y operations durints ihe abovL Lwo pcriods. "hc funds brcakdown for 2022 is shown in notc 12. 'I'hc notcs on pao¢s l O 10 15 fDrm an inlcgral part oftlicsL financial stateinents. l)auc 8
Ballykcel Busincss Development Ltd (Registration number: N1033029) Balance Shect as at 31 March 2023 2023 2022 Notc ixcd as5cIs Tangible asSCIS 905,752 932.161 Curi'¢nt #ssets Dcbtors Casli at bank and in hand 2,904 74,544 10 i9,120 77,448 Ci-cditors: Ilmounts fl< Ilinu due ivitliin one year (6,i28) 7,319) Net cui-rcnl Ilssets i4,665 70,1?9 Net a55et5 960,417 1,00? ?90 unds of the charity: Unrc5tricted income funds Unrcstricled funds 960.417 1,002,?90 'I'otal funds 960,417 1,00? ?90 l.or thc finaiicial year endino J I Imarch 2023 the cliarity wa5 entitled io exemption from audit undci- sccLion 477 ofthe Compani(% Act 2006 relatino to small cotnpanics. Directors, responsibilities.. 'I'hc tncinbcrs havc not requircd thc cliarily to obiain ali audil of ils account5 for tlic year in qiieqtion in accordancc willi scclion 476,. and I'hc directors acknowledge their responsibilities for coinplyints with ihc rcquii'cments of ihe Act wilh rcspcct to accountiiiD records aiid Ihc preparation ofaccounls. Thc5c financial stalcincnts havc becn prcparcd in accordance ivitli the SPCCidl provisions rclaling lo coinpanics subjcct lo ihc small conipanics rcgiiiic witliin l)art 15 of che Companics Acl ?006. 'rhe financial slateincnts on pages 8 to 15 wcre approvcd by thc truslcc& and aiithorised for i5suc on 13 June ?02J and si(rncd oil Ilicir bchal r by: Mi D M Davidsoii "I"ruslec -riic nolcs on pagcg l O to 15 form an iiilcgral part of ihese finaiicial sLateincnts. Ilagc 9
Ilallykecl Business Dcvelopmcnt Ltd Notes to the fiinancial Statemcnts for the Year Ended 31 Marcli 2023 I Charity status I'lie charity is limited by Duarantcq ineorporaled in Northcm Ii'cland, and consequently does not have share capital. rach of the trustces is liablc lo contribute an amount iiot cxceeding £ I towards ihc assets of the charity in thc cvcnl of liquidation. I'he address of ils registered ol¢C i5- 18 Crebi Ily Road Ballymena Co Antrim BT42 2DN These fiiiancial statements were authoriscd for issuc by the trustces on 13 Junc 202J. 2 Accounting policies Sumniary of signifjcant Accounting policic5 and kty aceouNting estimates I'he principal accounting policies applied in the preparation of Ihcse financial slatements are sei out below. These policics have bccn consistcntly applied to all the years prcsenlLd. unless otherwise staled. Statcnicnt ol compliance I'lie financial statements have been prepared in accordance with Accounting and Reporting by Charitics: Siatemcnl of Recommended Practice applicable io charicics prcparing thcir accounts in accordance with the Finaneial Rcportino Staiidard applicable in ilic UE( and Ilepublic OF Ireldiid {fRS 102) (cectIve l Jaiiliary ?0 l i) (Charilies SOIII) (I-. lis I o?)}. the financial Reportina Standard applicablc in the UK and Kepublic of Ircland (fRS 102). They 1£150 comply with the Companic5 Act 2006 and Charitics Aci ryorthcrn Ircland) ?008. ljasis of prLp#rAtion 13allykecl Business DLvclopment Ltd mccts the dcfiiiition of a public benefit entity undcr fRS 102. A55ets and liabilitics arc initially rccoonised at historical cost or Iransaclion value unles5 oilicrwi8e staicd in the rclevanl accountino policy noles. Going concern The Irustces consider that Ihcre arc no material uncertainties about the charily's ability to continuc as a trointr concern nor any significant areas OF unccrtainly that alTrct the carrying valuc of a55els held by the charity. Income and cn(lo%Ynient5 "I'hc Company plans to contiiiuc to slimu111 te and supporl cconomic and cnlcrprisc dcvclopmcnl in thc Ballykecl Ward and ihc Nciolibourhood Ilcncival Arca of Ballyimcna South and also Inakc a si(JnifiLant contribution towards local Coinmlllllty Plannino %ii'dLeJ(r aiid Coinmunity Cluster forun15. '1'hc sli'alcgic aiin 15 to inspirc pcoplc to be ciilcrprisiiio parlicularly Ihosc who rcsidc in the nciglibourho(NJ rLncwal arca, crcate self Lmploynient and eiiiployincnt opporlunilies lo improve economic pi'ospccls and communily rcgcner<1tion. Page 10
Ballykccl Busincss Dcvclopmcnt Ltd Notcs to the Financial Statcmcnt.8 for the Year f4Jiidcd 31 March 2023 F.xpenditui-e All expendiÈurc is recognised once thcrc is a legal or construclivc obljuation to tliat expenditurc, il is probable seltlemcnl 15 required and Ilic amount Can be mcaslircd reliably. All costs are allocat¢d to tlic applicablc cxpcndilure hcading thac aoorctsaic similar costs to that calcgory. Wherc cost5 cannot bc directly altribut¢d io parlicular headin(ys tlicy havc bccn allocaicd on a basis consistent willi tlic use of resources, Ivith central std costs allocated on tlie basis of Limc spcnL Lind dcpreciati7 cliar(Fcs allocated oli ilie porlion of the a5scI's usc. Othcr support Costs arc allocated based on the spread of staFFcosls. Cliaricable aclivi¢i Charitable expenditure coinpriscs Ihose cosls incurrcd by thc charity in the delivci-y of its activilics and services for its beneficiaries. It includes boih costs ihal can bc allocated directly to sucli activilics and thosc costs of an indircct nature neccs5ary to support them. Taxation The charity is considered to pass ihe tests set out in Paraoraph I Schcdule 6 of the Finance Act 2010 and Ihcrcforc li mecls Ilie definition of a charitabl¢ company for UK corporation lax purposcs. AordIng[y, Ihc charity is potentially exempt froiii taxation in respect of income or ¢apital gains received within categories covered by Chaptcr J Part I l of thc Corpor<ltion -lax Act 201 O or Section 256 of the Taxation of Chargcable Gains Act 1992, to thc cxtcnl 1111< l such incoinc 01- 01n5 arc applied exclusively to cliaritablc purposcs. "I'Augiblc fixcd assets Individual fixed assels Cosiints £0.00 or niorc are initially rccordcd al cosl. Depreciation and amortis>)tion Dcprcciatioii is provided on lanoible fixcd asscls 50 as lo write otr thc c05t or valualion, Icss any estimated residual valuc, ovcr thcir Lxpccled usccul ccoiioniic li fc as follows= Asstt class rrcchold land <ind buildings l-urnilurc and cquipiiicnL l)eprLCiation method And ratc Ovcr 50 years 2 jo/4 rcducing balancc basis rodc debtors 'I"radc debtors are amounts due from customer5 for mcrchandise sold or serviccs performcd in the ordinary course OF busines5. "rrade dcbtors arc recogni5¢d initially ai ihc Iransaclion price. Thcy arc subscqucntly mcasurcd at amorliscd cost usin(r thc eIYcclivc inlcrcsl mcthod. Icss provisioii for iinpairTnciil. A provision for ihc iinpairillcnl of Ir<idc dcbiors is cslablishcd whcn tlicrc is obj¢¢tivc cvidencc thai tlic charily will noi bc able lo collecl all 1¢ n)ounL% duc according lo Ilic orioinal leriiis of ihe rcceivables. Cash cash equivAlcnts Cash and cash cquivalcnls ¢oiMpi-isc cash on hand and call deposits, and oihcr short-lci-ln lijulily liquid iiivestiiients Ihal are readily convcrtible to a kiiown amount of cash and are subjecl to an inslunifin( risk or chanoe in valuc. l)agc I I
Ballykccl Business Dcvclopmcnt Ltd Notes to the Financial Statcments for the Ycar Eiidcd 31 March 2023 -I'rade creditors I'rade creditors are oblioations to pay for goods or services that havc becn acqiiired in the ordinary course or business fTom suppliers. Accounts payable arc classified as current liabilitics if the charity does not have an unconditional riJo t, at the cnd of thc rcportino period, to defer setileinenl of the crediloi- for at least Iwelve months after the rcporting date. Ir Ilicre is an unconditional rioht to defer scltlemcnt for at least twelve months after the reportinu date, they are prcsented as non-current liabilitics. I'rade creditors are rccotsniscd inilially at the trdnsactioii price and subsequently ineasured at amortlsed cost usino the etfective interest mcthod. Borroivings Intcrcsi_bcarino borrowintrs arc iniiially rccordcd at fair value, net of transaction costs. Intercst_bearino tx)rrowinos are svbscqucntly carricd al amorLised cost, ¥viih thc dilTcrencc bctwecn the proceeds, nct or transaction costs. and the amount due on redeinption bejnts rccoonised as a charge to the StatcmcnL of financial Ilctivitie5 over thc period of the relevant borrowing. Interest expense is reco(ynised on the basis of the efFeclive inlerest method and is included in interest payable and similar chirocs. Borrowinos arc classified as current liabilities unless Ihc chariLy has an unconditional riJo il to dcfcr sciilemcni of tlic liability for al Icasl twelve month5 after Ihc rcporlino datc. 'und structurc Unreslricted income funds are ¢neral fund5 that are available for use at the trustees discretion in furtherance or thc objcclives of ihc charily. 3 Income Ironi chAritabl¢ activities Unresti'iclcd rund.$ GL'ner81 'rotal 2023 I'otAI 2022 Rental income 72.165 4 b.xpenditui'c on charitable ietivitics Uni-cstricted Total 2023 -rotAI 2022 Gcnci-Al 114,OJ8 114.038 101.247 Net ineomingloutgoing re50urees Ncl outooin(r resources for tlic year includc= 2023 2022 Dcpi'ecialion or rixed asscts 26,409 26.442 Patsc 12
Ballykccl Business Dcvcl()pment Ltd Notcs to the Financial Statements for tl)c Year Fnded 31 Marcli 2023 6 '1'rustees i'emuncrAtion aiid cxpenses No trustcc8 noi- any persons connccted with iliei1I, liave reccived aiiy rcinuncration froin tlic charity during ihc year. 7 "faxation Tlie cliarily is a regislercd charity and is ihereforc cxcillpt froni taxation. Actors that may affect fulure tax chai'ges Tlie company has esliinatcd Iosscs 01£46,063 available fDr carry forward aoainst luturc tradincv profils. 8 "1 Angible fixcd assets l.And And buildings Fiii-nilui-e aiid cquipmcnt 'I'otHI Cost At l April 2022 1,408,269 24,894 1,4JJ,163 Ai 31 March 202J 1,408,269 24.894 1,433,16) Depi"eeiii tion At l April 20?2 Charge for the year 476,748 26,228 24.254 181 501,002 26,409 At 31 Marcli 2023 502,976 24,435 527,411 Net book valu¢ Al 31 Mai'ch 2023 905,29J 459 905,752 At 31 March 2022 9Jl.521 640 932,161 9 Debtors 2023 2022 Tradc debtors 453 1.195 425 1,282 1.197 425 Prepaymenls Otlier debiors 2.904 ljaoc 13
Ballykeel Busincss Dcvelopmcnt Ltd Notes to the Financial Statcmcnts for the Year Ended 31 March 2023 10 CAsh 2nd cash cqllivAlents 2023 2022 Cash on hand Casli at bank 161 58.959 170 74,374 59,120 74,544 I I Creditoi-s: amounts falling due within one year 2023 2022 Other tsxatioii and social security Oiher creditors Accruals 623 200 5.705 661 6,658 6,528 7,319 12 bunds ijalancc at I Api"il 2022 Inc(Jming re50urccs Ile50uI'ces cxpendcd Balance at 31 March 2023 Unresti'icted funds Gcneral 1,002,290 72,165 114,038) 960.417 Il>)IAncc At I April 2021 Incoming rcsoui'c¢s Ilcsources expcnded Jlalance At31 iKai'ch 2022 Unl'estricted funds Gencral 1.029.158 74.379 (101,247) 1,002,290 Paoc 14
Ballykecl Ilusincss Development Ltd Notes to tlic Finaiicial Statcmcnts for the Year Ended 31 Marcli 2023 13 Analysis of net xssels between funds Uni'cstricted funds General 1.olal funds At 31 Mai'ch 2023 Tangible fixed asscls Curicnl assels CurreiiL liabililie5 905,752 61,193 (6.528) 905.752 61,193 (6,528) Tolal net assets 960,417 960.417 Unrestricled luiids General "I'olal funds At 31 March 2022 Tangiblc fixcd assets Current asscls Current liabilitios 9J2,161 77,448 (7,319) 932.161 77,448 (7,319) I"otal ncl asscts 1,002,290 1,002.290 14 Analysis of net funds At l April 2022 binaneing casli flows At31 Mai'ch 2023 Cash at bank and in Iiaiid 74,544 (15,424) 59,120 Nci dcbi 74.544 At l Api'il 2021 (15.424) 59,120 AI31 Marcli 2022 Ilin1CIng casli noivs Cash at bank and in liand 72,687 1.857 74,544 Nci debt 72,687 1,857 74,544 Pa¢ye 15
Ilallykecl Busincss Development Ltd Dclailed Statement or r4inancial Activitics for the Year fi ndcd 31 Marcli 2023 TotAI 2023 I'otal 2022 Income and Lndoivments from: Charitable aetivitie5 (analyscd bclow) 72.165 74,379 'L'otal incomc 72,165 74.379 Jxpcnditure on: Charilable aclivilics (analysed below) (114.OJ8) (101.247) "rotal expenditure (114,038) (101.247) Net expendilurc (41,873 26,868 Nel movenienl in funds (41.873) (26,868) Rcconcilialion of funds l olal funds brought forward 1,002,290 1,029,158 '1 otal fuiids carricd forward 960,417 1,002,290 'rhi.8 pagc doos iiot form parl of ilie statutory financial slalernents. [)agc 16
Ilallykeel Business Devclopmcnt Ltd l)etailcd Statement of fiinancial Activities for the Ycar Fnded 31 Marcli 2023 "rotAI 2023 2022 Cliiiril(Ible nelivities Ilenlal income 72,165 74,379 72,165 Cliariliible activilies Watses and salaries SiatrNIC (Eiiiployers) Water ratcs Light. heat and pow¢r Insurancc Rcpairs and Inaintcnancc I"clcphone and fax Printin& poslatsc and slalioiicry Cliaritablc donalioiis Sundry expenses Clcaning Kcy liolding sccuri(y sci-ViCC8 Service level agrcciiiciil Adverlisino Accountancy fees 13ank chargcs Dcprecialion of frcchold propci'ly Dcpreciation of fixtur&% and fillings (7.738) (329) (3,518) (4,41 J) (5,182) (17,512) (2,614) (947) (2.000) (760) (440) (8,i20) (24.315) (1.652) (3,530) (5,0 l J) (11,874) (2,164) (1,800) (464) (582) (7.800) (28,184) (120) (J,369) (515) (?6,228) 214 (5,313) (465) (26,228) (114,038) 101,247 -l-hi.£ pagc docs not forin pail of ihc slalulory fiiiancial slalcincnts. l)acrc 17