Ballykeel Busin&8s Development Ltd Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gain5 and Losses) Unrestricted funds TotAI 2025 Note Income and Endowmenls from: Charitable activities 75.001 75,001 Total income 75.001 75,001 Expenditure on: Ch¢iriL¢iblr aLliYili 101.845 101,845 Total expenditure {101.845) (101,845) Net expenditure (26.844 26.844 Net movement in funds (26.844) (26,844) Reconciliation of funds Total fvnds brought forward Total funds carrid forward 935.012 935.012 12 908,168 908.168 Unre5trieted funds 2024 Note Income and Endowments from: Charitable activities 74.178 74.178 Total income 74.178 74,178 Exp¢nditure on: Charitable activities (99.583) (99.583) Total expenditure 99,583 99.583 Net expenditure (25.405) (25,405) Net movement in ndS (25.405) (25,405) Reconciliation of funds Total funds brought forward 960.417 960,417 Total funds carrid forward 12 935 012 935,012 All of the charitys activities derive from continuing operations during the above two periods. The fund5 breakdown for 2024 is sho in note12. The notes on pages l O to 15 form an integral part of these financial statements. Page 8
Baltykeel Business Development Ltd (Registration number: N1033029) Balance Sheet as at 31 March 2025 2025 2024 Note Fixed A55¢ts Tangible assets 854.535 881.397 Current assets Debtors Cash at bank and in hand 7,790 52.189 8,094 52.842 io 59.979 60,936 Creditors: Amounts falling due within one year (6.34 (7,321) Net current Assets 53,633 53.615 Net 855ets 908.168 935.012 Funds of th¢ charity: Unrestrieted income funds Unrestricted funds 908.168 935.01?. Total funds 12 908.168 935,012 For the financial year ending 31 March 2025 the ¢haTity was entitled to exemption from audit under section 477 of the Compani&s Act 2006 relating to small companie Directors, responsibilities: The members have not requirLxl the charity to obtain audit of its aec()unts for the year in que%tic)n in accordance with section 476. and The directors acknowledge their responsibiliti&s for complying with the requiremthts of the Act wlth respect to accounting records and the preparation of accounts. The financial statements on pages 8 to 15 were approved by the trustee4 and authorised for issue on 17 June 2025 and signed on their thaIr by: Mr D M Davidson Trustee The notes on pages 10 to 15 form an integral part of these financial 5tat¢ments. Page 9
Baltykeel Busin&ss Development Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 I ChArity status The charity is limited by guaranteq incorporated in Northern Ireland. and consequently doe5 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 office As: 18 Crebilly Road Ballymena Co Antrim BT42 2DN These financial statements were authori$1 for issue by the trustees on 17 June 2025. 2 Accounting policies SummAry of significant accounting policies and kry accounting estimates The principal accounting policies applied in the preparati( of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Statcmcnt of compliancc The financial statements have en prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to chariti&s preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ircland (FRS 102) (effe¢tiv¢ 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 Charities Act (Northem Ireland) 2008. Bgsis of preparation Ballykeel Business Development Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilitie5 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 alM)Ut the CharItS ability to continue as a going concern nor any significant areas of uncertainty that afftct the carrying value of assets held by the charity. Income and endowment5 The Company plans to continue to Stimulate and 5UPPOrt economic and enterprise development in the Ballykeel Ward and the NeighEK)urhood Renewal Area of Ballymena South and also make a significant contribution towards local Community Planning Strategy and Community clust Forum5. The Strategic aim is to inspire people to be enterprising particularly those who r&%ide in the neighbourhocxl renewal arel create self employment and employment opportunitie5 to improve economic prospects and community regeneration. Page 10
Baltykeel Business Development Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 Expenditure All cxpenditure is recognised oncc thcrc 15 a legal or constructive obligation to that ¢xpenditur4 it Is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular hcadings they have been allocated on a basis cons15tcnt with the usc of rc50urces, with ccntral staff osts allocated on the basis of time 5penl and depreciati(A] charges allocated on the portiCA] of the asset's use. Other support costs are allocated knsed on the spread of staff costs. Cliaritable aclivilies Charitable expenditure compri5e5 those costs incurroj by the charity in the delivery of its activities and services for its beneticiaries. It includes th costs that can be all¢xated directly to such activities and those costs of an indire(X nature nesarY to support them. Taxation The charity is considered to pa5S the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and thcrcforc it mccts thc dcfinition of a Gharitablc company for UK Corporati tax purposes. Accordingly. the charity is potentially exempt from taxation in resped of inrne 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 Act 1992, to thc cxtcnt that such incomc or gains arc applied exclusively to charitable purposes. Tan£ible fixed assets Individiial fixed a55ets c05ting £0.00 or more are initially recorded at cost. DLpreeiation and 8mortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuaticm. less any estimated residual value, over their expected use1 economlc lift as follows: Asset class Freehold land and buildings Furniture and equipment Depreciation method and rate Over 50 years 250/0 reducing balance basis Trade debtors Trade debtors are amounts due from customer5 for tnerthandise sold or services performed in the ordinary course of bu5ines5. Trade debtor5 are recognised initially at the transaction pric& They are subsequently measured at amortis cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors 15 established when there is objective evidence that thc charity will not ablc to collcct all amounts duc according to the original terms of the receivables. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investme.nts that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Pagell
Baltykeel Business Development Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 Borrowing5 Interest-bearing borrowings are initially rOrded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carrieA at amortisal cost, with the difference between the proceeds, net of transaction costs, and the amount due on redempti being recognised as a ¢harge to the Statement of Financial Activities over the peri(xl of the relevant FKirrowing. Interest expense is recognised on the FAsis of the efftctive tnterest method and is included in interest payable and similar Charges. Borrowings are classified a5 current liabilities unlw the charity has an unconditional right to defer settlement of Ihe liabiliry for ai lea twelve months after the reponing dale. Fund structure Unrestricted income funds are general fvnds that are available for use at the trustees discretion in fijrtherance of the objectives of the charity. 3 Income from charitable activiti¢s Unr¢strieted funds Total 2n2_ Total 2024 Rental income 75.138 75,138 74.178 4 Expenditure on charitable activities Unrostri¢ted Total 2025 Total 2024 General 101,845 101.845 99,583 5 Net incomingloutgoing resources Net outgoing resource5 for the year include.. 2025 2024 Depreciati of fixed assets 26.862 26,381 6 Trustees remuneration gnd expenses No trustee5, nor any persons connected with thw have received any remuneration from the charity during thL Page 12
Ballykeel Busin&8s Development Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 7 Taxation The charity is a registered ¢harity and is therefore exempt from taxation. Factnrs that may Affect future tAx charges The company has estimated1055es of £46.063 available for carry forward against future trading profits. 8 Tangiblt fixed assets Land and buildfings Furniture and equlpment Total C05t At l April 2024 1.408.269 27,594 1,435,863 At 31 March 2025 1.408.269 27.594 1.435.863 Depreciation At l April 2024 Charge for the year 529.204 26.229 25.262 633 554.466 26.862 At 31 Marth 2025 555.433 25.895 581,328 Nct book value At 31 March 2025 852.836 1.699 854,535 Ai 31 Mosch 2024 879.065 2.332 88 1.397 9 Debtors 2025 2024 Trade debtors Prepayments Other debtors 2.831 4,959 2.786 4,883 425 7.790 8.094 Page 13
Ballykeel Business Development Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 10 CAsh and eAsh equivalents 2025 2024 Cash on hand Cash at bank 154 52.035 145 52,697 52,189 52,842 11 Creditors: amounts falling due within one year 2025 2024 Other taxation and social security Other creditors Accruals 1.693 1,100 3.553 966 I,ioo 5,255 6,346 7,321 12 Funds Balance at I April 2024 Incoming resources Resources expended Balance at 31 March 2025 Unrestrieted funds General 935,012 75.001 101,845) 908,168 Balance at I April 2023 Incoming resources Resources expended Balance at 31 Mareh 2024 Unrestricted funds General 960.417 74,178 (99.583) 935,012 Page 14
Baltykeel Business Development Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 13 Analysis of n¢t assets between funds Unr¢stricled funds General Total funds at 31 March 2025 Tangible fixed assets Current assets Current liabilities 854.535 59.979 (6.346) 854,535 59.979 (6,346) Tntxl net assets 908.168 908.168 Unrestricted funds General Total funds at 31 March 2024 Tangible fixed assets Current assets Current liabilitie5 881.397 60.936 (7.321 881.397 60,936 7,321 Total net assets 935.012 935.012 14 Analysis of net funds At l April 2024 naneing cash flows At31 March 2025 Cash at bank and in hand 52.842 653 52.189 Net debt 52.842 At l April 2023 (653 naneing $b flows 52,189 At31 March 2024 Cash at bank and in hand 59.120 6.278) 52.842 Net debt 59,120 (6.278 52,842 Page 15
Ballykeel Business Development Ltd Detailed Statement of Financial Activities for the Year Ended 31 March 2025 Total 2025 Total 2024 Income and Endowments from: Charitable activitie5 (analysed below) 75,001 74,178 Total incomc 75.001 74,178 Expenditure on: Charitable activities (11 nalysed below) 101.845 (99.583 Total expenditure {101.845) (99,587) Net expenditure 25,405 Net movement in funds (26.844) (25.405) Reconciliation of funds Total fvnds brought forward 935,012 960,417 Total fjjnds cariiaj forward 908.168 935.012 This page does not forni part of the statutory financial statements. Page 16
Ballykeel Business Development Ltd Detailed Statement of Financial Activities for the Year Ended 31 March 2025 Total 2025 Total 2024 Cliarilable aclivili Rental income 75.001 74,178 75,001 74,178 Cllaritable octivKti£s Wages and salarias Staff NIC (Employers) Vlicant unit rates Water rates Light. heat and power Insurance Repairs and maintenanc Telephone and fax Sundry expense5 Clcaning Key holding security services Service level agreement Accountancy fees Bank charges Depreciation of frcehold property Depreciation of fixtures and fittings (17.846) (16,255) (9881 (235) (1.221) (2,512) (6,444) (16.847) (2.894) (204) (539) (987) (17,143) (7,827) (285) (26.228) {633 (3,964) (3.499) (6.314) (11.650) (2.627) (735) (204) (823) (17.279) (7,863) (326) (26,228) 828 101,845 99,583 This page do&5 not form part of the statutcry financial statements. Page 17