Ballykeel Business Development Ltd
Statement of Financial Activities for the Year Ended 31 Illarch 2024
(Including Income and Expenditure Account and Statement of Total Recognised Gains
and Losses)
Unrestricted
funds
Total
2024
Note
Income and Endowmcllts from:
Charitable activities
74,178
74,178
Total income
74.178
74,178
Expenditure on..
Charitable activities
99,583
99.583
Total expenditure
(99,583)
(99,583)
Net expenditure
(25,405)
25,405)
Net movement in funds
(25,405)
(25,405)
Reconciliation of funds
Total funds brought forward
TotPAI funds carried forward
960,417
960,417
12
935,012
935,012
TotAI
2023
Uni'estrieted
funds
Note
Income and Endowmcnts fj'om:
Lharitable activitics
72,165
72,1 C?5
Total income
72,165
72,165
Expenditure on:
Charitable activities
(114,038)
(114,038
Total expenditure
114,038
114,038
Net expenditu
(41,873)
(41,873)
Net movement in funds
(41,873)
(41,873)
Re¢onciliAtion of funds
Total funds brought forward
1,002,290
1,002,290
Total fvnds carried forward
12
960,417
960,417
All of the charity's activities derive from continuing operations during the above two periods.
The fijnds breakdown for 2023 is shown in note 12.
The notes on page5 1 O to l5 form an integral part of these financial statements.
Page 8

Ballykeel Business Development Ltd
(Registration number: N1033029)
Balance Sheet as at 31 March 2024
2024
2023
Note
Fixed Assets
Tangible assets
881.397
905.752
Current assets
Debtors
Cash at bank and in hand
8,094
52,842
2,073
59.120
io
60,936
61,193
Creditors: Amounts falling due within one year
(7.321)
(6.528)
Net current assets
53,615
54,665
Net assets
935,012
960,417
Funds of the charity:
Unrestrictcd income funds
Unrestricted fjjnds
935,012
960.417
Total funds
12
935,012
960.417
For the financial year ending 31 March 2024 the ¢harity was entitled to exemption from audit under section 477
of the Companies Act 2006 relmting to SMMII companies.
Dii'Lclors' responsibilili¢s'.
The members have not required the charity to obtain an audit of its accounts for the year in question in
accordance with 5¢Ction 476. and
I'he directors acknowledge their responsibilities for complying with the requirements of the Act with respect
to accounting records and the pr¢pAration of accounts.
The financial statements on pages 8 to 15 were approved by the truste4 and authorised for issue on 14 June
2024 and signed on their behalf by..
Mr D M Davidson
Trustee
The notes on pages 10 to 15 forrn an Inte￿al part of these financial statements.
Page 9

Ballykeel Business Development Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
I Charity stAtus
The charity is limited by guarantee. incorporated in Northern Ireland, and consequently does not have share
capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity
in the event of liquidation.
The address of its registered olTice 15:
18 Crebilly Road
Ballymena
Co Antrim
BT42 2DN
These financial statements were authorised for issue by the trustees on 14 June 2024.
2 Accounting policies
Summary of significant accounting policits 2nd key Accounting estimates
The principal accounting policies applied in the preparation of ihese financial statements are set out below.
These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January
2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of
Ireland (FRS 102). They also comply with the Companies Act 2006 and Charitie5 Act (Northern Ireland) 2008.
Basis of preparation
Ballykeel Business Development Ltd meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant
accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continuc a5 a going
concern nor any significant areas of uncertainty that affect the carrying value OF assets held by the charity.
Income and endowments
The Company plans to continue to stimulate and Support economic and enterprise development in the Ballykeel
Ward and the Neighbourhood Renewal Area of Ballymena South and also make a significant contribution
towards local Community Planning Strategy and Community Cluster Foruii)s. The strategic aim is lo inspire
people to be enterprising particularly those who reside in the neighbourhood renewal area, create self
employment and employrnent opportunities to improve economic prospects and community regeneration.
Page 10

Ballykeel Business Development Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
Expenditui-e
All expenditure 15 recognised once there is a legal or construetive obligation to that expenditur4 it is probable
settlement is required and the amount can be rneasured reliably. All costs are allocated to the applicable
expenditure heading that aggregate similar costs to that eategory. Where costs cannot be directly attributed to
particular headings they have been allocated on a basis consistent with the use of resources, with Central staff
costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Other support costs are allocated based on the spread of staff costs.
Cliariluble llctivili
Charitable expenditure comprises those costs incurr￿{ by the charity in the delivery of its activities and services
for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an
indirect nature necessary to support them.
Taxation
The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and
therefore it rneets the definition of a charitable company for UK corporation tax purp05¢s. Accordingly, the
charity is potentially extmpt from taxation in respect of income or capital gains received within categories
covered by Chapter 3 Part I l of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable
Gains Aci 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
I'Angible fixed asscts
Individual fixed assets costing £0.00 or more are initially recorded at C05t.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation. less any estimated
residual value. over their expected useful economic life as follows..
Asstt class
Freehold land and buildings
Furniture and equipment
Depreciation mothod and rate
Over 50 years
250/0 reducing balance basis
Trade debtors
Trade debtor5 are amounts due frorn customers for merchandise sold or services performed in the ordinary
course of business.
Trade debtors are reLognised initially at the transaction price. They are subsequently measured at amortised c05t
using the effective interest method, less provision ftir impairinent. A provision for the irnPPJirment of trade
debiors is establi5h¢d when there is objective evidence that the charity will not be able to collect all amounts due
according to the original terms of the receivable5.
Cash and cash equivxlents
Cash and cash equivalents comprise cash on hand and call deposits. and other short-term highly liquid
investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of
hange in value.
Pagell

Ballykeel Business Development Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Accounts payable are classif1cd as current liabilities if tlie charity docs not havc ai)
unconditional ri￿1¢ at the end of the reporting period, to defer settlement of tlie crcditor for at least twelve
months after the reporting date. If there is an unwnditional right to defer settlement for at least twelv= months
after the reporting dat4 they are presented as non-¢urrent liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost
using the effective interest method.
Borrowings
Interest-bearing l)orrowings are initially recorded at fair value, net of transaction costs. Interest-bearing
borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of
transaction costs, and the amount due on redemption being recognised as a charge to the Statement of financial
Activities over the period of the relevant knrrowing.
Interest expense is recognised on the basis of the effective interest method and is in¢luded in interest payable
and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of
the liability for at least twelve months after the reporting date.
Fund structure
Unrestricted income fvnds are general fvnds that are available for use at the trustees discretion in furtherance of
the objective5 of the charity.
3 Income from charitabl¢ activitios
Unrestrieted
funds
Genernl
Total
2024
Total
2023
Rental income
74.178
74,178
72,165
4 Expenditure on charitablo activities
Unrestrieted
Total
2024
Total
2023
Gcncral
99,583
99,583
114,038
5 Net incomingloutgoing resources
Net outgoing resources for the year include:
2024
2023
Depreciation of fixed assets
26.381
26.409
Page 12

Ballykeel Business Development Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
6 '1'1'vsteCs rcmunei'ation and expenses
No Irustees, nor any persons connected with them, have received any remuneration from the charity during the
year.
7 Taxation
The charity is a registered charity and is therefore exempt from taxation.
Factoi's that may affect future tax charges
I'he coinpany has cstiinated1055es of £46.063 available for carry forward against fi]ture trading profits.
8 Tangible fixed Assets
Land and
building5
Furniturc And
equipment
Total
Cost
At l April 2023
Additions
1,408,269
24,894
2,700
1.433,163
2,700
At 31 March 2024
1.408.269
27,594
1,435,863
Depreciation
At l April 2023
Charge for the year
502,976
26.228
24,435
827
527.411
27.055
At 31 March 2024
529.204
25.262
554,466
Nct book value
Ai 31 March 2024
879,065
2,332
881,397
At 31 March 2023
905,293
459
905,752
9 Debtors
2024
2023
Trade debtors
Prepaynients
Other debtors
2,786
4,883
425
453
1,195
425
8.094
2,073
Page13

Ballykeel Business Development Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
10 CAsh and cash equivalents
2024
2023
Cash on hand
Cash at bank
145
52,697
161
58,959
52,842
59,120
I I Creditors: amounts fAlling due within one year
2024
2023
Other taxation and social security
Other creditors
Accruals
966
1,100
5,255
623
200
5,705
7,321
6,528
12 Funds
Balanco at I
April 2023
Incoming
rtsoui'ces
Resources
cxpended
Balance at 31
March 2024
Unrestricted funds
General
960,417
74,178
(99,583)
935,012
Balance at I
April 2022
Incoming
resources
Resources
expended
Balance at 31
March 2023
Unrestricted funds
General
1.002,290
72,165
(114.038)
960,417
Page 14

Ballykeel Business Development Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
13 Analysis of net assets between funds
Unr¢stricted
funds
General
Total funds at
31 March
2024
Tangible fixed assets
Current assets
881,397
60,936
(7,321)
881,397
60,936
(7.321)
Current liabilities
Total net assets
935,012
935,012
Unrestricted
funds
General
Total funds at
31 March
2023
Tangible fixed assets
Current assets
Current liabilities
905.752
61,193
(6,528)
905,752
61,193
(6,528)
Total net assets
960,417
960,417
14 AnAlysis of net funds
At l April
2023
At 31 March
2024
Cash at bank and in hand
59,120
59,120
Net debt
59,120
59.120
Financing cash At 31 March
floivs
2023
At l April
2022
Cash at bank and in hand
74.544
15,424
59,120
Net debt
15,424
59.120
Pag¢ 15

Ballykeel Business Development Ltd
Detailed Statement of Financial Activitlcs for the Year Endcd 31 March 2024
'rotAI
2024
'rotAI
2023
Income And Endowments from:
Charitable activities (analysed ixlow)
74,178
72,165
Total income
74,178
72,165
Expenditure on:
Charitable activities (analysed below)
(99,583
(114,038
Total expenditure
(99.583)
(114,038)
Net expenditure
25,405
41,873
Net movement in funds
{25,405)
(41,873)
Reconciliation of funds
Total fijnds brought forward
960,417
1,002,290
Total ￿ndS carried forward
935.012
960,417
Thi5 page does not form part of the statutory financial statements.
Page 16

Ballykeel Business Development Ltd
Dctailcd Statement of Financial Activities for the Year Ended 31 March 2024
Total
2024
Total
2023
Clinriliible uclivilies
Rental income
74,178
72.165
74.178
72,165
Cliarilable &cÉivitias
Wages and salaries
Staff NIC (Employers)
Water rates
LighL heat and power
Insurance
Repairs and maintenance
Telephone and fax
Printing, postage and stationery
Charitable donations
Sundry expenses
Cleaning
Key holding security services
Service level agreern¢nt
Advertising
Accountancy fees
Bank charges
Depreciation of freehold property
Depreciation of fixturcs and fittings
(16,255)
(988)
(3.964)
(3.499)
(6,314)
(11,650)
(2.627)
(11.191)
(329)
(3,518)
(4,413)
{5.182)
{17,512)
(2,614)
(947)
(2,000)
(760)
(440)
(8,520)
(24,315)
(iio)
(5,313)
(465)
(26.228)
181
(735)
(204)
(823)
(17,279)
(7,863)
(326)
(26,228)
828
99,583
114.038
This page doe5 not form part of the statutory financial statements.
Page 17