Ballymena Business Centre Ltd
Statement of Financial Activities for the Year Ended 31 December 2022
(Including IThcome and Expenditure Account and Statement of Total Recognised Gains
and Losses)
Total
2022
Total
2021
Unrestricted
Note
Income and Endowments from:
Government Grants
Cliarilable activities
Investment income
1,014,796
432,546
27
440.132
34
440,132
34
Total income
440,166
440, 166
1,447,369
Expenditure on:
Charitable activities
(411,923)
(411,923)
(382,790)
Total expenditure
(411,923)
(411,923)
382,790)
Net income
28.243
28,243
1,064,579
Net movement in funds
28.243
28,243
1,064,579
Reconciliation of funds
Total funds brought forward
2,Il5.580
2.115.580
1,051,001
Total funds carried forward
16
2.143.823
2,143,823
2,115,580
All of the charity's actLVlties derive from continLiing operations during the above two periods.
The ￿lld5 breakdown for 2021 is shown iii note 16.
The notes on page5 13 10 22 forni an iiitegral part of these financial 5tateiiients.
Page 10

Ballymena Business Centre Ltd
(Registration number: N1024613}
Balance Sheet as at 31 December 2022
2022
2021
Note
Fixed assets
Tangible assets
10
1.689.395
1,747.272
Current Assets
Work in pi'ogress
Debtors
Cash at bank and in hand
1.680
10,063
629,452
641,195
10,121
7.084
547,560
12
13
564.765
Creditors: Amounts falling due within one year
14
(85,388)
(69,137)
Net current assets
555.807
495.628
Totsl assets less current liAbilities
2,245,202
2,242.900
(127,320)
2,115.580
Creditors: Amouiits falling due after more than one year
15
(101,379)
Net a55ets
2,143,823
Funds of the charity:
Unrestricted income funds
Unr¢striGted
2.143,82J
2.115,580
Total fund5
l6
2.143,823
2.115.580
The financial stalen)ents on pages l O to 22 were approved by the trustees, and authorised for issue on 14 March
2023 and signed on tlieir behalf by..
N4r James Perry
Trustee
DL (Vice Chairperson)
Mrs Melanie Christie Boyle MBE
Company Secretary
The notes on pages 13 to 22 form an integral part of these financial statements.
Pagell

Ballymena Business Centre Ltd
Statement of Cash Flows for the Year Ended 31 December 2022
2022
2021
Note
Cash flows from operating activities
Net cash income
28,243
1.064,579
Adjustments to cash flows from non-cash items
Depreciation
Investment inwme
59,774
(34)
87.983
60.216
(27
1.124.768
Working eApit81 adjustments
Decreasel(increase) in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Decrease in pr()visions
Net cash flows from operating activities
Cash flows from investing activities
Interest receivable and sitnilar income
Purchase of tangible fixed assets
Net cash flows from investing activitie5
8,441
(2,979)
14.726
(9,406)
46,707
(16,231)
999,989)
12
14
108,171
145.849
34
{1.896)
27
(10,078)
io
(1,862)
(10,051)
Cash flows from finAncing activities
Repayinent of loans and borrowings
Net increase in cash and ca51i equivalents
14
(24,417
(34,801)
81,892
100,997
Cash and cash equivalents at l January
Cash and cash equivalent5 at 31 December
547,560
446,563
629,452
547,560
All of the cash flows are derived from continuing operation5 during the above two periods.
The note5 on page5 13 to 22 form an integral part of these financial statements.
Page 12

Ballymena Business Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2022
I Charity status
The charity is incorporated in Northern Ireland and limited by guararLtee. Northern Ireland and conseqliently
does not have share capital. Each of the Iru51ees is liable to contribute an amount not exceeding £1 towards Ilie
assets of the Charity in the eveiit of liquidation.
T]ie address of its registered office is..
clo DT Carson & Co
51-53 Thomas Street
Ballymena
Co Antrim
B T43 6AZ
Tliese financial statements were authorised for issue by the trustees on 14 March 2023.
2 Aceounting policies
Summary of significant Aeeounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are s¢t out below.
These policies have been consistently applied to all the years presented. unless othenvise stated.
Statement of complianee
The financial statements have been prepared in accordance with Accounting and Reporting by Cliarities..
Statement of Recommended Practicc applicable lo charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102) (effective l January
2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of
Ireland (FRS I02). Tliey also coniply with the Companies Act 2006 and Charities Act (Northern Ireland) 2008
Basis of preparation
BaIlymena Business Centre Ltd me¢ts the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwise ststed in the relevant
accounting policy notes.
The presentation currency of these financial stat¢ments is sterling. All amounts in the financial statements have
been rounded to the neai'e5t £1.
Going concern
The finanGial statement5 have thus been prepared on a going concern basis as the trustees consider there are no
material Lincertainities about tlie charity's ability to continue as a going concern nor any significant areas of
uncertainity that affect tlie carrying value of a55ets lield by the charity. The trustees have assessed a period of 12
months from the date of approving tlie financial Statements both in relation to tlie level of funds held and the
expected level of incotne and expenditur¢ with regard to the appropriateness of the going concern assumption in
preparing the financial statements taking into consideration all relevant factors including Covid-19,
pandemic.The trustees note that and believe that the company will continue as a going concern and be able to
realise its assets and discharge its liabilities in the nornial wurse of business.
Page 13

Ballymena Business Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2022
Income and endowments
Income from charitable activities includes income i'ecogni5¢d as eai'ned (as the related goods or services are
provided) under contract or where entitlement to grant funding is subjecl to specific performance conditions.
Grant income included in this category provides funding to support programme activities and is recognised
where there is entiÉleTnent. certainty of receipt and the amount can be measured with sufficient reliability.
Granls receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked lo the grants
have been met. Where performance conditions are attached to the grant and are yet to be met, the incoine is
i-ecognised as a liability and included on the balance sheel as deferred income to be released.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is piDbable
settlemenl 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 headings they have been allocated on a basis consistent with the use of resources. with central stsff
costs allocated on the basis of time spent. and depreciation charges allocated oli the portion of the asset's use.
Other support costs are allocated based on the spread of staff costs.
Cjiarilable aclivilie
Charitable expenditure compri5e5 those costs incurred by the charity in the delivery of it5 activities and services
for its beneficiarie5. It includes both costs that can be allocated directly to such activities and those costs of an
iiidirect nature necessary to support tliem.
Govcrnment grants
Governmeiit grants received under tlie Coronavirus Job Retention Sclieme are recognised on Ilie perforinance
model with entitlement to the grant only passing lo the coimpany over the period of tiine that the relevant
employee is oli furlough so tlie income fi'oin the grant is recognised on a straight line basis over the furlough
period of relevant einployee.
The Coronavirus Small Business Grant is recognised under the perfoniiaiice model. As the grdnt does not
impose specified future perfoniiance-related conditions on the company it is r¢coEnised in income when the
grant proceeds al-e received or receivable.
T2xAtion
The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and
therefore it meets the definition of a charitable company for UK Corporation tax pui'poses. Accordingly, the
charity 15 potentially exempt froni taxation in respect of income or capital gain5 received witliiii categories
covered by Cliapter 3 Part I l of Ilie Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable
Gains Act 1992. to tlie extcnt tliat 511ch income or gains are applied exclusively to Charitable purp05¢5.
Tangible fixed assets
Individual fixed assets are initially recorded at Cost, less any Subsequent accumulated depreciation and
Subsequent accLimulated impairinent losses.
Page l4

Ballymena Business Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2022
Depreciation and amortisation
Depreciation 15 provided on tangible fixed assets so as to write off the cost or valuation. less any estiniated
residual value, over their expected usefvl economiG life as follows-.
Asset class
Depreciation method and rate
250/0 Straight line for the period held
during the year
20/0 Straiglit line for the pei'iod held during
the year
Fixtures and fittings
Land and buildings
Work in progress
Work in progress relates to work done at the year end but not invoiced.
Cash and eAsh equivalents
Cash and cash equivalents comprise cash on hand and call deposits. and other 5hort-temi highly liquid
investsnents that are readily convertible to a knowrk amount of cash and are subject to an insignificant risk of
change in value.
Trade creditors
Ti'ade creditoi's are obligations to pay for Eoods or services that have been acquired in the ordinary course OF
biisiness from supplier5. Accounts payable are classified as current liabilities if the charity does not have an
unconditional right, at the end of the reporting period. to defer settlement of the creditor for at least twelve
month5 after the reporting date. If there is an unconditional right to defer settlement for at least rwelve months
after Ihe reporting dale, they are presented as non-currcnt liabilities.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction cost5. Interest-bearing
borrowings are subsequently carried at amortised cost. with the difference between the prnceeds, net of
transaction ¢05ts, and the amount due on redemption being recognised a5 a charge to the Statement of Finaiicial
Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of th¢ effective inter¢st method and is included in interest payable
and Similar charges.
Borrowings are classified a5 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
Unreslricled income funds are general funds that are available for use at tlie trustee5' discretion in furtherance of
tlie objectives ol tlie cliarity.
Page 15

Ballymena Business Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2022
3 Income from charitablc aetivities
Unrestricted
Total
2022
Total
2021
GenerAI
Ballykeel Workspace
Covid 19 Business Programme
Co-innovate Programme
Mailbox Address Service
Ballee & Hairyville Workspace
41 Innovation Prograinme
Eioom Hire
Galgom] Workspace
Enabling Enterprise Programme
Go For It Programme
Tom￿ Centre Workspace
Coiisultancy
Erasmus Pi"ogramme
Woi'ld of Enterprise Programme
25.891
25,891
28,012
10,925
3,183
2.859
5,417
(13)
(13)
5.417
43,338
50,260
232,434
16.475
24,726
28,645
216
5,417
43.338
50.260
232,434
16,475
24,726
28.645
216
53,559
234.764
44.751
25,192
19,688
2,636
9,043
3,700
9.043
3.700
1,560
440,132
440,lJ2
432,546
Managed
Total
Total
Business
Support
Workspace
2022
2021
Owned Workspace-Galgorn) and
Town Centre
Managed Workspace-Ballykeel
and Ballee&Harryvill¢
Eiiabling Enterprise Programine
Go foi. It Programme
Covid 19 Business Programme
World of Enterprise Programme
Co-innovate Progrnnnie
Erasmus Programme
Mailbox Addre55 Service and
Sundry Income
Consultancy
Room Hire
41 Innovation Prograiiinie
261,078
261.078
254.453
31,309
31.309
16,475
24.726
33,430
44,751
25,191
10,925
1.560
3,183
l6,475
24.726
3,700
(14)
9,044
3,700
(14)
9.044
2.859
2,635
53,559
216
216
50.260
43,338
50.260
43,338
97,485
342,647
440,132
432.546
Page 16

Ballymena Business Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2022
4 Investment income
Unrestricted
funds
GenerAI
TotAI
funds
Interest receivable and similar income;
Interest receivable on bank deposits
34
34
Totsl for 2022
34
34
TotAI for 2021
27
27
5 Expenditure on charitable ¥ctivities
Unrestricted
Total
2022
Total
2021
General
Note
Consultancy
Go for It Programme
Town Centre Workspace
World of Enterprise Programme
Enabling Enterprise Programme
Co-lnnovate Programme
41 Innovation Programme
Wages and salaries
Staff NIC {EIMployers)
Slaff pensions (Defined contribution)
Rates
Water rates
Light, heat and power
Insufdnce
Repairs and Inaintenance
Galgorm Workspace
Telephone and internet
Printing. posting and stationery
Professional membership fees
Sundry expenses
Motor and travel expenses
Marketing and sponsorship
The audit of the charity's annual
accounts
2,683
18.814
35,031
60
10,418
2,062
403
l49.636
9.662
2.778
21,748
50.654
I,420
26.514
21,748
50.654
1,420
26,514
9.213
128,792
7,483
2,389
(91)
1,584
3,260
12.115
5.176
38,477
3,386
1,143
3.743
3.741
5,965
3.964
9.213
128.792
7.483
2,389
(91)
1,584
3,260
l2,115
5,176
38,477
3.386
1,143
3,743
3,741
5.965
3.964
1,498
885
10,597
6.363
27.908
2,278
553
2,889
3,601
5,854
1,274
4,650
7,423
325
239
4,650
7.423
325
239
4.350
5.582
5,019
211
Legal and professional fees
Bad debts written off
Bank charge5
Page 17

Ballymena Business Centre Ltd
Notes to Ihe Financial Statements for the Year Ended 31 December 2022
Unrestricted
Total
2022
Total
2021
General
Note
Pliotocopier Leasing Payments
Staff training
Loan interest
Depreciation of tangible fixed assets
980
170
980
170
7,686
59.774
980
3,901
6,845
60,216
7.686
59,774
411,923
411,923
382.790
Business
Support
Administrative
Expense5
2022
2021
Enabling Enterprise Programme
Go for It Programine
World of Enterprise Programme
Co-lnnovate Programme
41 Innovation Programmc
Coiisultancy
Town Centre Workspace
Galgonn Workspace
Employment Costs
Establisliment Costs
General Administrarive Expenses
Finance Charges
Depreciatioii Cliarges
26,513
21.748
I,420
26.513
21,748
1,420
10,418
18,814
60
2,062
402
9.213
9,213
2.683
35,031
27,908
165,976
19,783
32.591
6,846
60.216
50,655
38.476
138,834
22.044
35.560
7.685
59,775
353,029
50,655
38,476
138.834
22,044
35,560
7,685
59,775
58,894
411,923
382,790
6 Net incomingloutgoing resources
2022
2021
Audit fees
Otlier non-audit services
Depreciation of fixed assets
Rele￿e of deferred capital grant provision
4,650
750
59.774
4,350
890
60,216
(999,989)
7 Trustees remuneration and expenses
No trustee5. nor any persons connected witli them, liave received any remuneration from the charity dLiring the
year.
Page 18

Ballymena Business Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2022
8 Staff costs
The inonthly average number of persons (including senior management / leadership team) employed by the
charity during the year expressed as full tiine equivalents was as follows:
2022
2021
Administration
Business Support
No employee received enioluments of more than £60,000 during tlie year.
9 Taxation
The charity is a registered charity and is therefore exempt froin taxation.
10 TAngiblc fixed assets
Land and
buildings
Furniture and
equipment
Total
Cost
At l January 2022
Additions
2,853,213
142,687
1.896
2,995,900
1,896
At 31 December 2022
2.853.213
144.583
2,997.796
Depreciation
At l January 2022
Charge for the year
1,114,957
55,614
133,670
4.160
l.248,627
59,774
At 31 December 2022
1,170,571
137,830
1,308,401
Net book vAlue
At 3 l December 2022
1.682,642
6,753
1.689,395
At 31 December 2021
1,738,256
9,017
1.747,273
I I Worli in progress
2022
2021
Work in progress
1,680
10,121
Page 19

Ballymena Business Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2022
12 Debtors
2022
2021
Ti-ade debtoi
Prepayments
4.268
5.795
1.090
5,994
10.063
7,084
13 Cash and cash equivAlents
2022
2021
Cash on hand
Casl) at bank
238
629,214
?38
547,322
629,452
547,560
14 Creditors: 2mounts f211ing due within one year
2022
2021
Bank loan5
Trade creditors
Otlier taxation and social security
VAT liability
Other creditors
Accruals
25.678
9,154
2,469
10,885
9,750
27,452
85,388
24.154
6,107
3.434
8,673
8,850
17.919
69,137
15 Creditors: amounts fAlling due #fter one year
2022
2021
Bank loans
101,379
127.320
As security the bank liold a legal charge dated 30 Septeinber 1992 over 62 Fenaghy Road, Galgonii Industrial
Estate, Ballyiiiena and a legal niortgage dated 17 April 2014 over 51-53 Cliurch Street. Ballymenl County
Antrim. B T43 6AZ.
Page 20

Ballymena Business Centre Ltd
Notes to the f4 inancial Statements for the Year Ended 31 December 2022
16 Funds
Bglance at 3 1
December
2022
Balance at I
January 202Z
Incoming
resources
Resources
expended
Unrestricted
General
2.115,580
440,166
(411.923)
2,143,823
BAlance At 31
December
2021
BalAnce at I
J#nuAry 2021
Incoming
resources
Resoiirces
expended
Unrestricted
General
1.051.001
1,447,369
(382.790)
2,115.580
17 AnAlysis of net Assets between funds
Unrestricted
funds
General
Totxl funds at
31 December
2022
Tangible fixed assets
Current assets
Cui'rent liabilities
Creditors over l year
1.689,395
641,195
(85,388)
(101,379)
1,689.395
641.195
(85,388)
(101,379)
Total nel assets
2.143.823
2,143,823
Unrestricted
funds
General
Total funds at
31 December
2021
Tangible fixed assets
Current assets
Current liabilitie5
Creditors over l year
1.747.272
564,765
(69,137)
(127.320)
I,747.272
564.765
(69,l37)
(127,320)
2.115.580
Total nel assets
2,115.580
18 Related party transaction5
There were no related party ti'ansactions in the year.
Page 21

Ballymena Business Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2022
19 Controlling entity
The cliarity is controlled by the tniste¢5 who are also directors of the company.
Page 22