Ballykecl Ilusincss l)evclopment Ltd Trustces, Ilcport NAme of Charity: ljallykcel Jlusincss l)evelopment Ltd CCNI Iltgisti-dtion Number: 101471 Ilcgist¢red Officc: BAllykecl Business l)cvcloptnent Ltd, B4illykecl Busincss Centi-q 18 Crebilly IIoAd, Il>)IlymciiA, B'f42 2DN "I'hc Iruslccs. who are also directors of tli¢ charity for the purposcs of the Coinpanies Act, submit this their annual rclurn to thc Nl Cliarity Commission lor ycar-end 31 st March 202J. "I"he Financial Stateincnts comply with thc Charities Aci tNI] ?008. the Companies Act 2006. the Meinorandum and Arliclcs of Association and Accountancy and Reportino by Charities: Statement of Recommended Practice applicable to Charities prcparin(Y their accounts in accordance with the financial Reporting Standard applicable in the UK and Rcpublic of Ii-eland [1-, RS I 0?]. Strueture, Govei-nAnce & ManAgemenl tjallykccl Business Devclopmeni Ltd is a company limitcd by Cruaranlec aiid also is & recooniscd Charity. 'fhc Charity is govcrncd by an fxccuiivc Board whicli meel on a bi monthly basis throughout the year. 'I'rustees .Ind officers 'rhe tru51ees and otricers 5ervinu durints the year and since the year end wcr¢ as follows= I'ruslees.. Mr J K F Currie Mr P Brown Mrs P McNeill Mrs J Knox I r D M Davidson Rcverend M McNeely Secretary.. Mrs I I Imcmillan (rcsigncd l Octobcr 202?) Mrs imclanie Christic Boyle (appointLYI l October 20?2) The Trustees are responsible for prcparing the Tru5tecs' Annual Ilcport and tlic financial statements in accordance with applicablc law and regulation5. Public Benefit Rcportiug In seltili our objcclives and planninu oui- activitie5 for thc ycar Iru5lces havc uivcn CTr¢ rcful bonsidcialion to thc Charily Comniis5ion for Northern Ii-cland's ouidancc on public bcnefit lo cnsurc ihat ilic aclivi(ies have hclpcd to acliicve the Charity's purp05C5 and providc a bcncfit to ilie beneficiarics. Ildllyl(eel Business l)cvelopmenl Lld purpose includes..... (i)"fhc relicfof povcrly and uncmployiiient in the Ballykecl Ward- (ill Creatc ¢iwarencss of entetprisc opporlunitios ivithin hard to reach oroups including unemploycd, Ih05c facin redund41ncy. youno pcrsoiis. ¥voincii and clhnic niinoritics. (iii) Support Ihc advaiiceinciil of cducalioii, Ii-ainino rclraining and work cxpcriciicc oppoi'lunilics.
Ballykcel Ilusiness Devclopment Ltd 'rrustces' Rcport (iv) Support community dcvclopmcnt Ilirough thc provision of trainino r"acililics on favourablc tcrms. (v) Managc sustainable in frastruclure and the physical cnvironnicnt within Ihc coinmunily thal will siippori the nccds for rcsidcnts to start and run a business or a social cnlerprise. {vi) Achieve thc crcation of ciiiployincnt. training aiid cxpcrieiicc Ilirouuh entcrprise opporlunitics fur rcsidcnts in partnersliip with local stakeliolders. BallyLeel Business Development Ltd mission is lo 'Promotc cntcrpri5c and entrcprcneurship by delivcring initialivcs to support ceonomic and commui)ity rcgcncralioii in thc neighbourho(xl rcnewal area of Ballyn)cna Soutli of Mid and Cast Anlriin Boroutsh Council,. Ballyl(ecl Jlusine55 1)cvelopment Ltd hxs delivered scrviccs uiidcr the lollowing three pillaJ3 of Support: Business Support Inilialives supporlino cntreprcncurs at the pre-slarL slart-up and growth 5tag¢ of thcir business journcy in parlncrsliip with local 5lakcholders. Busincss Property includiiio ljolil indusLI'ial, coiif¢rciice aiid Ineclino rooins. Comimunity Regeneration promotino enlerprisc and cntreprencurship at a local l¢vel throu(yh enua(reinent with cducation, statutory, voluntary. cominunily, banking and private sector, includino non-comm¢rcial rcpresentation on a ranoc of voluntary committecs. Ilallykeel Ilusintss Dcveloprncnt Ltd has dclivcred the lollowing <ietivilies to help Rchieve the chAI'itable pui'pose: Northern Ircland Siart Up Prooramme Lo help those prcparc Ihcir siart up busincss p141n. (Dclivercd by Bdllymena Busincss Ccntrc) Supportino new and exisling busincs_gcs Ilirough Ihc managcmcnt of cmploymcnt spac¢. Provision of 25 workspacc units,. l 00 jobs supporlcd. (Mi diiaocd.Ihrougli Service IKvel ilorecment Kviih tl¢illymcna Busincss Ccntrc) Voluntary contribution on thc NTeighbourhood Rencwal Partnership. IIAllykcel Business D¢vclopnicnt l.td beiicficiaries dui'inu yLai' ended 31 Mai'cli 21)23 includcd tlie rollowing groups And Arcas: Individua15 wl)o rc.sidc in urban disadv411)lagLd arLa of liallyincna South iiicliiding youno peoplc, woiiien I'clurncrs, cilinic Ininorilics, thosc wilh disabilitics, those facing rcdundancy and Ih05c who arc Iinemployed. Ejallykeel Business Dcvclopincnt Ltd bcncficiaries have bcncfit¢d from initiatiVCS that liavc been deliver¢d durinu ycar ended 31 March 202). -rhi5 can bc demoilstratcd througli the followiiig outcoincs= Eiiiploymcnt 5pacc manaTremcnt supporlincr approx. l 00 jobs £?,000 charitablc donation was piovidcd to supporl cducalion projects in 13allykccl Primary School and Flarryville Primary School. No hartn and only limiLcd in¢idLntal privatc bcncfit ariscs froin Ballykccl Busine55 Dcvelopmcnl's 2LCtivitics. liinanciAI Rcvic Rcvi¢w of Ballykccl ljusincss l)cvclopmcnl Lid financial position as al year ended 31 March 2023. The Charily inconie for year lotallcd £72,165: expcnditurc for ycar totallcd £1 5 4.038. Tolal fixcd asscls aiiiouiiL to £90i,7i2 willi lotal iict asscls aiiiounlinu to £960,417.
Ilallykeel Busincss Development Ltd I'rustces, Ilcport Unrcslricied funds are con5idcrcd to be essential to providc sulTicicnt fuiids to cover any un foreseen c051s which niay arise and fulfil ihe Icgal obligations of the charily. -rhe Charity's policy is to mainlain a level ol frce reserves sutricient lo wver such costs. Ilcscrves l?olicy "lThc calculation of the requircd level of reserves is an inteural part of Ballykeel Business Dcvelopmcnt Ltd planniiio budgct and forecast cycle. li takes into account.. risks of income and cxpenditure being diffcrcnt from that budgeted planned activity Icvcls dcvelopmcnt opporLunitiC5 arising in the near future The "frustce5 Qf Ballykeel Business Developmcnt Ltd have rcvicwcd Ihc Cl)arity's nced for reserves and, have decided there should be SLltficient free reserves to providc cover for 6 months in relation to budgeted annual e.Ypenditure= Ihc collapse or breakdown of information technolo(yy and coinmunications systems. essential machinery or ulilities structural rcpairs to light industrial and administration space Ballykeel tlusinc.8s Devclopmenl l.td aims lo have net currcnt asseis equivalcnl lo 12 montlis cxpcndilure within the next i years. Tliis Icvcl ol frec reserves 15 coiisidcrcd io bc rcasonablc in view of thc fact ihal Ballykeel Ilusincss l)cvelopment mainiains approx. 20.000 sq ft of lioht industrial and otrice accommodation. Winding-up or Dissolutioii of the Company Ir upon wiiidin(v-up or dissolution of the Company thcre remains, altcr the sali51aGtion of all its debts and liabilities, any property whatsoever, the same shall not bc paid to or disLributed amonts the nicinbers of thc Conip4iny. but shall be oivcn or transferred to some other charitable in5tiLLIIiots or instilutions havints objects similar to thc objects of ihc Company, and ivhich shall proliibii ihc distribution or ils or thcir incomc and propcrty, such charitable institution or institulions to bc dclcrmincd by Ihc nicinbcr5 of thc Company at or bcfore thc time of dissolution, and in so far as cIfcctcd cannol bL oivcn lo such provision, Ilicn to some oihcr charitable object. Risk IM¢?nagcment Thc Truslees will undertake a review of the inajor risks lo iyhich the company 15 exposed and a Ilisk I lanagement Policy will be agreed to identify, monitor and control those risks. An indepcndcnt audit of thc Conipany's financial Stateinciii has bcen carricd out. uturc StrRtcgy Elallykccl Busincss Dcvclopmcni Lid plans to conlinuc lo slimulale and .4upport cconomic ¢1nd enterpri.4c dcvelopiiicnt in thc ncighbourho(Kl renewal arca of Ejallymena Souili and also Inakc a sionificant contribution towards Mid and Last Anliim ljoiough Council Cominunity Plan and I'conomiL I)cvclopment Siralco Sm¥ll covnpanies pi-ovision statement 'l-hi5 report has becn prcparcd in accordance with the small companics rogimc under the Companies Act 2006. l)aoe 4
Ilallykccl Ilusincss Dcvclopment I,td Trustccs, Ilcport St4ltetncnt of'i'i-ustees, Ilcsponsibilities The trustees (who are also the directors of Ballykeel Busincss Dcvclopincnt Ltd for Ihc purposes of company laiy) arc rcsponsiblc for pr¢paring Ilie Irustecs, report and Ilic financial stalcments ii) accordance with applicablc law aiid Unitcd Kingdoin Accounting Standards (Unitcd Icingdoin Generally Accepted Accounting Practicc). includino I",RS 10? "The Financial Sieporling Standard applicable in Ihc UK and Rcpublic of Ircland" The rcport and accouiits have bccn prepared in accordance with the provisions in the Companics Act ?006 relaiino to small COlDpanies. Company law requires ihc truslecs to preparc Financial statcments for each financial ycar. Undcr company law Ihe Irustecs musl not approvc the financial slateincnts Uiilcss thcy arc satisfied Ihat ihcy oivc a true and fair vieiv of the state of aifairs of the charitablc company and of the incomino rcsourccs and application of rcsources, includino its incomc and c.xpeiidilure. of the charitable coimpaiiy for that period. In preparing thes¢ financial statciiicnts, tlic tru5tces are required to= selcct suitable accountin(r policies and apply thcin consi5tcnily- observe the mcihods and principles in the Charities SOIIP; make judgcinents and cstimaLes that are reasonable and prudcnt- stale whetlier applicablc accounting standards. comprising fRS 102 havc bccn followLd, subjcct to any material d¢parturcs discloscd and explaincd in ihc financial slateinents- and prcpare the financial slatcments on the ooino concern basis unless it is inappropriatc lo presumc that thc charilablc coinpany will contiiiue in business. Thc Irustces arc responsible for kecpin propcr accountiiio rccords ihat can disclosc willi rcasonable accuracy al any iimL Ihc financial posilioii of Ihc cliaritable coinpany and Lnablc Ihcni to eiisure that the financial stateinents comply wilh Ihc Companics Act ?006. 1.hcy are also responsiblc for safcou£irding the assels of the charitable company and hcncc for lakino rcasonablc Steps for thc prcvcnlion and dctLclion of fraud and othcr irrcgularilies. The truslecs arc rcsponsiblc for thc maintcnance and intcgrily of tlic corporate and financial inforimation included on thc charit<iblc compaiiy's wcbsile. l.coislation oovcrning tlic prcparalion and dissemination of rinancial statciiicnts may dilTcr from legislation in otlicr jurisdictions. Tlic annual report wa5 approvcd by the trustces OF tlic charity oil l J June 202J and si(Jncd on ils bcliaif by.. Mr D IM Davidson "I'rustec