Ballymena Business Centre Ltd
Statement of Financial Activities for the Year Ended 31 December 2024
(Including Income and Expenditure Account and Statement of Total Recognised Gains
and Losses)
Unrestrieted
funds
Totsl funds
2024
TOÉAI funds
2023
Note
Income and Endowments from:
Charitable activities
Inve5th]ent income
460.862
460,862
470,944
76
Total income
460,862
460,862
471.020
Expenditure on:
Cliaritable activities
(423.920)
(423.920)
(404,480)
Total expenditure
(423.920)
(423,920)
(404.480)
Net income
36.942
36.942
66,540
Net movement in funds
36.942
36,942
66.540
ReeonciliAtion of funds
Total fund5 brought forward
1210,364
2,210,364
2,143,824
Total fijnds carried fonvard
16
2.247.306
2.247.J06
2,210.364
All of the charity's activities derive from continuing operations during the above tr*VO period5.
The funds breakdown for 2023 is Sho1￿ in note 16.
The notes on pages 13 to 22 forni an integral part of these financial statements.
Page 10

Ballymen2 Business Centre Ltd
(Registration number: N1024613)
Balance Sheet as at 31 December 2024
2024
2023
Note
Fixed assets
Tangible assets
io
2.016.411
2,069,355
Current a￿ets
Work in progress
Debtors
Cash at bank and in hand
36,293
14,658
3?5,789
39,447
11,936
243,487
12
13
376.740
294,870
Creditors: Amounts falling due within one year
Net current assets
14
(79,30
(71,040)
?97,433
L?3,830
Total assets less current liabilities
2.313.844
2,293.185
Creditors: Amounts falling due after more than one yegr
15
(66.538)
(82,8?1)
Iyet assets
2.?47,306
?,210,364
Funds of the chgrity:
Unrestricted income funds
Unrestricted
2.?47.306
2.210.364
Total funds
16
2,?47.J06
2,210,364
These financial statements have been prepared in accordance with the special provisions relatino to companies
subject to the small companies regime within Part 15 of the CompanA¢s Act 2006.
I"he tinancial statements on pages 10 to were approved by the tnjstees. and authorised for issue on I l March
2025 and signed on their behalf by:
r J<ltn¥s P¥rry
Trustee
L (Vicr Ch¢llTP¢PiUli)
MFb M¢l¢liRif Clirislir Buylr MBE
Company Secretary
The notes on pages 13 to 22 forni an integral part of these financial statcmcnts.
Pauell

Baltymena Business Centre Ltd
Statement of Casb Flows for the Year Ended 31 December 2024
2024
2023
Note
Cash flow5 from operating activities
Net cash income
36.942
66.540
Adjustments to cash flows from non-cash items
Depreciation
Knvestment income
61,797
59.875
(76)
98.739
126.339
Working capital adjustments
Decreasel(increa5e) in stocks
Increase in debtors
Increasel(decrease) in creditors
3.154
(2,722)
10.874
(37.767)
(1,873)
(11.169)
12
14
Net casli flows froni operating activities
110,045
75,530
Cash floivs from investing activities
Interest i'e¢eivable and similar income
Purcliase of taiigible fixed assets
76
(439,836
io
(8,853)
Net cash flow5 from investing activitie5
{8,853)
(439,760)
Cash flows from fiDaneing activities
Rcpayment of loans and borrowins5
14
(18.890)
(21.735)
Net increasel{decrease) in cath and cash equivalents
82,302
{385.965)
629,452
Cash and cash equivalents at l January
Cash and cash equivalents at 31 December
243.487
325.789
24J,487
All of the c85h flow5 are derived from Continuing operation5 during the above two periods.
The notes on pages.13 to 22 forni an integrnl part of these financial statements.
Page 12

Ballymena Business Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2024
I Charity status
The charity is incorporated in Northern Ireland and limited by guarantee. 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 th¢ charity in the event of liquidation.
The address of its registered office is=
clo DT Car50n & Co
51-53 Thomas Street
Ballymena
Co Antrim
BT43 6AZ
These financial statements were authorised for issue by the tnlstees on I l March 2025.
2 Accounting policies
Summary of signifjcant accounting policies and key accounting estimates
Tlie principal accounting policies applied in the preparation of these financial statements are set out below.
These policie5 have been consistently applied to all the years presented, unless otherwise stated.
Statement of complianee
The financial statements have been prepared in accordance with Accounting and Reporting by Charities:
Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard appl&cablc in the UK and R¢public of Ireland (FRS 102) (effective l January
?019) - (Clwities SORP (FRS 102)). the Financial Reporting Standard applicable in ihe UK and Republic of
Ireland (FRS 10?). They also comply with the Companies Act ?006 and Charities Act (Northem Ireland) 2008
Ballymena Business Centre Ltd meets the definition of a public benefit entity under FRS 102.
BASIS of prepAration
As5cts and liabilitlC5 arc initially rccogni5ed at historical c05t or trdn5actsoll valu¢ unless othcrwi5c ststed in the
relevant accounting policy notes.
The presentation currency of these financial statements is sterling. All amounts in the financial statenients liave
been rounded to the nearest £1.
Going concern
The financial statements hav¢ thus been prepared on a going concern basis as the trustees consider there are no
material uncertainties about the charity's ability to conunue as a goino concern nor any signiticant areas ot.
uncertainty that affect the carrying value of assets held by the charity. The trustees have assessed a period of12
months from the date of approving the financial statements both in relation to the level of funds held and the
expected level of income and expenditure with regard to the appropriateness of the going concern assumption in
preparing the financial 5ratements takTng into consideration all relevant fac¢oT5.Tlie trustees note that and believe
thai the company will continue as a going concern and be able to realise Its assets and discharge its liabilities in
the normal course ot" busine55.
Page 13

Baltymena Business Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2024
Income and endowments
Income from charitable activities includes income recognised as earned (as the related goods or services are
provided) under contract or where entitlement to grant fijnding is subject to 5pecifiG performance condition5.
Grant inconie included in thi5 category piovides fimdinu to support pro.uramme activities and is recognised
where there is entitlemenl certainty of receipt and the amount can be Me￿ured with sufficient reliability.
Expenditure
All expenditure is recogni5ed once there is a legal or constructive obligation to that expenditure. it is probable
settlement 15 required and the amount can be measured reliably. All costs are allocated to the applicable
expeiiditure headin(r that aggr¢gate similar costs to that category. Where costs cannot be directly attributed to
particular lieadings diey have been allocated on a basis consistent with the use of re50uI'ce5, Ivitll ceijtral staff
costs allocated on the basis of time spenl and depreciation charges allocated on the portion of the asset's use.
Other support costs are allocated based on the spread of staff costs.
Cliarikable activilies
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities a]id services
for its beneficiarie5. It includes both costs that can be allocated directly to su¢li activities and those costs of an
indirect nature necessary to support them.
Government grants
Government grants received under the Coronavirus Job Retention Scheme are recognised on the performance
model with entitlement to the grdnt only passing to the company over the period of time that the relevant
employee is on furlou2h 50 the income from the is reCo￿lsed on a straiJit line basis over the furlough
period of relevant employee.
The Coronavirus Stnall Bu5ines5 Grnnt is reco￿]sed under the perforniance model. A5 the grant does not
impose specified future perfomiaiice-related conditions on the company it is re¢ognised in income when tlie
grant proceeds are received or receivable.
'I'axation
The charity is cO￿ldered tt) pass the tests set out in Paragraph I Schedule 6 of thc Finance 2010 and
therefore it rneets the definition of a charitable company for UK corporation tax purposes. A¢¢ordingly. the
charity is potentially exenipt from taxation in respect of income or capital gain5 received witliin categories
overed by Chapter 3 Part I l of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable
Gains Act 1991 to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual ftxcd assets arc initially rccorded at rosL less any subsequent accumulal¢d depreciation and
subsequent accumulated impairment losses.
Page 14

Ballymen2 Business Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2024
Depreciation and amortisation
Depreciation is pi-ovided on tar]gible fIxed assets so as to write off thc cost or valuation, less any estimated
residual value. over their expected usefvl econoniic life &% follows..
Asset elass
Depreeiation method and rate
250/0 Straight line for the period held
during the year
20/0 straight line for the period held during
the year
FiX￿reS and fittings
Land and building5
Work in progress
Work in progress relates to work done at the year end but not invoiced.
CAsh and cash equivalents
Cash and ¢a5h equivalents comprise cash on hand and call deposits, and other short-temi highly liquid
investments tliat are readily convertible to a known amount of cash and are subject to an insignificant risk of
change in value.
Trade creditors
Trade creditors are oblioations to pay for goods OT services that have been acquired in the ordinary course of
business from supplicrs. Accounts payable arc classified as curreni 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
months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months
after the reporting date. th¢y aTe pJ'¢srli￿d as non-curreni Ilabiliiies.
Borrowings
Intei'est.bearing borrowinsE are initially recorded at fair value, net of trnnsa¢tion costs. Intcicst-b¢aiiii¥
borrowings are subsequently carried at amort15ed c05L wÉth the difference between the proceeds, net of
transaction costs, and Ilie amowit due on redemption being recognised as a charge to the Ststement of Financial
Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable
and similar chargeq_
Borrowtngs are classified as current liabilities unles5 the charity has an unconditional Tight to defer settlement of
the liability for at least twelve months after the reporting date.
Fund structure
Unrestricted income funds are general funds that are available for use at the tru5tees' discretion in furtherance of
the objectives of the charity.
Page 15

Ballymena Business Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2024
3 Income from charitAble Activlties
Unrestricted
Funds
General
Totgl funds
2024
Total funds
2023
Ballykecl Workspace
Ballee & Harryville Workspace
The Gallaher Trust 41 Tnnovation Progrdmme
Room Hire
Gal(rorni Workspace
Gallahcr Trust Enablins Entcrprisc Programmc
Go For It / Gosuceed
Town Centre Workspace
Sale5 Multiply Project
Explore Enterprise
Ei"aslllU5 Pi"08raiiiiii¢
16,800
5,245
26.209
43,135
240.673
33.605
38,154
45.871
3.759
5,166
2,245
16,800
5,245
26.209
43.135
240,673
16,800
5.418
54.925
42,060
238.681
41,960
29.664
40,398
i8,154
45,871
3,759
5,166
2,245
1,038
460,862
460.862
470,944
Managed
Business
Support
Total
fullds
2024
Total
funds
2023
Workspace
Oivned Workspace-Galgorni and
Town Centre
Managed Work5pace-Ballykeel
and Ba51ee&Harryville
Enablin8 Enterprise Pro8ratnme
Explore Enterprise
Erasmus Programme
Go Succeed
Sale5 Multiply Project
286,544
286.544
279,079
22,045
22,045
33,605
5,166
2,245
38,154
3,759
43.135
26,209
22,218
41,960
1,038
33.605
5,166
2,245
38,154
3.759
43.135
26.209
29,664
oom HLre
42,060
54,925
41 Innovation Programme
152.27)
308.589
460,862
470.944
4 Investment income
Unrestrieted
Funds
General
Total
funds
Total for 2024
Total for 2023
76
76
Page 16

Ballymena Business Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2024
5 Expenditure on eharitable activities
Unrestricted
Fund5
General
Totsl funds
2024
Total fund5
2023
Note
Go for It Programme/ Go Succttd
Town Centre Workspace
The Gallaher Trust En&bling Enterprise
Programm¢
Multiply Project
Tlie Gallaher Trust 41 Innovation
Programme
Exp¢n5es - Erasmus
Wa8es and salaries
Staff NIC {Eniployers)
Staff pension5 (Defined contribution)
Rates
Water rates
Light, heat and power
liisurance
Repairs and maintenance
Galgorm Workspace
Telephone and int¢m
Printing. posting and stationery
Professional membership fee5
Sundry expenses
Motor and tr&vel expenses
Marketing and sponsorship
Audit fecs
Auditors, remuneration - non audit work
Legal and professional fees
Bad debts written off
Bank charges
Photocopicr Lcasing Paytncnts
Staff training
Loan interest
Depreciation of tangible fixed assets
Other interest payable
33.173
34,302
19.500
1.800
19,500
1,800
20.916
4.046
4.046
7.148
1,176
129,607
6.650
2,617
956
159.406
8.284
4.676
363
952
159.406
8,?84
4,676
363
952
2,595
254
11,159
9,991
44.338
2.531
1.141
3.164
4.083
7,692
3,548
4,850
780
9,938
293
970
1.143
(533)
15,496
9.552
20.209
2.987
1.230
(533)
15.496
9,552
20,209
2.987
3,807
2,272
7.119
2,403
4,900
800
2,272
7.119
2.403
4.900
800
15,950
(254)
970
1.098
350
8.313
61,797
819
15,950
(?54)
970
1.098
150
8,313
61.797
819
9,665
59,875
423.920
42J.920
404.480
Paoe 17

Ballymen2 Business Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2024
Businus
Support
Administrative
ETpenses
Total funds
2024
Total funds
2023
Enabling Enterprise Progr4rnmc
Go for IUGO Succecd
41 Innovation Programme
Multiply Proje
ErÉlblTIUb Pru¥r&ltt]tn¥
Town Centre Workspace
GalRorm Workspace
Employment Costs
Establishment Costs
General Administrarive Expense5
Finance Charges
Depreciation Charge5
19.500
33.173
4,046
1,800
19.500
33.173
4,046
1.800
20,916
23.098
7,148
,176
34,302
44.338
138,874
24,392
40,696
9,665
59.875
32,435
19.969
172.366
26,070
43.631
9,133
61.797
32,435
19.969
172,366
26.070
43,631
9,133
61.797
58.519
365,401
423,920
404.480
6 Net incomillgloutgoing resources
2024
2023
Audit fees
Other non-audit services
Depreciation of fixed assets
4,900
800
61,797
4,850
780
59,875
7 Tru5tee5 remuneration and expenses
No trustees. nor any persons connected with then4 have received any remuneration from the charsty during rhe
year.
Page 18

Ballymena Business Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2024
8 Staff costs
The rnonthly average number of persons (including senior management / leadership team) employed by t])e
charity during the year expressed as full time equivalents was as follow5=
2024
No
2023
Adniinistration
Busines5 Support
Tlie number of employees M*hose emoluments fell within tile following bands Wd%."
2024
£60.001- £70,000
Th¢ total cniploycc bciirfiis vfth¥ kcy managemeni personnel of the charity were £1.049 (?023 - £787).
The chief executive officer. as the highest paid member of staff. received benefits totalling £1,049 (2023
£787).
9 TaxAtiD
The charity is a registered charity and 15 therefore exempt from laxation.
10 Tangible fixed ￿￿ets
Lalld and
buildings
Furniture and
equipment
Total
Cost
At l January 20?4
Additions
3 ?89.146
148.486
8,853
3.437,63?
At 31 December ?0?4
3 ?89.146
157,339
3.446,485
Depreeiation
At l January 2024
Charge for the year
.2?6,186
55.614
14? 091
6,183
1,368,277
61.797
At 31 December 2024
1.281.800
148.274
1,430,074
Net book value
At 31 December 2024
2.007.346
9,065
2.016.411
Ai J l December 2023
?.062.960
6.JY5
2.069.355
Page 19

Ballymena Business Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2024
11 Work in progress
2024
2023
Work in progress
36.293
39,447
12 Debtors
2024
2023
Trade debtors
Prepayments
9,467
5,191
3,009
8,927
14,658
13 Cgsh and Cash equivalents
2024
2023
Cash on hand
Cash at bank
2,496
32J.293
2,637
240,850
325.789
243.487
14 Creditors: amounts falling due within one year
2024
2023
Baiik loans
Trade ¢reditors
Other taxation and Social security
VAT liability
Other creditors
Accruals
19,894
9.590
3,280
9,653
10,950
25,940
22,501
3.359
10,977
10,350
17.463
79.307
71.040
15 Creditors: amounts falling due after on¢ y¢4r
2024
2023
Dank loans
66,538
89,821
As security the bank hold a legal charge dated )0 September l992 over 62 Fenaghy Roa(L Galgorni Industrial
Estate, Ballymena and a legal mortgage dated 17 April 2014 over 51-53 Church StreeL Ballymena. County
Antrim. BT43 6AZ.
Page 20

Ballymena Business Centre Ltd
Not￿ to the Financial Statements for the Year Ended 31 December 2024
16 Funds
Balance at 31
December
2024
BalAnee at I
January 2024
Incoming
resourees
Resources
expended
Unrestricted
General
2?10,364
460.862
(423.9?0)
? 247.306
Balance at 31
December
2023
Balance at I
January 2023
Incoming
resourees
Resource5
eIpended
Unrestricted
General
2.143.824
471.020
(404,480)
? 210.364
17 Analysis of net assets between funds
Unrestricted
Funds
General
Total funds at
31 D¢cember
2024
Tangible fixed assets
Current assets
Current liabilities
Creditors over l year
2.016.411
J76,740
(79.307)
(66.5J8)
2.247,306
?.016,411
376,740
(79,307)
(66.538)
Total net assets
2,247,306
Unrestricted
Funds
General
Total funds at
31 December
2023
Tangible fixed assets
Curyent a55ets
Current liabilities
Creditors over l year
Total net assets
2,069,355
294.870
(71.040)
{82.821)
2.069.355
294,870
(71,040)
(82,8?1)
?.?.10 364
2,210.364
18 Re12t¢d party transactions
There were no related paty transactions in the year.
Page 21

Ballymena Business Centre Ltd
Notes to the Financial Statements for the Year Ended 31 December 2024
19 Cvntrulling entity
Tlie charity is controlled by the trustees who are also directors of the Company.
Page 22