CONWAY MILL PRESERVATtON TRUST LIMrrED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2023 ( A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL) COMPANY REGISTRATION NUMBER N1037461 CHARITY REGISTRATION NUMBER NIC 101569 O'HARA SHEARER CHARTERED ACCOUNTANTS AND STATUTORY AUDITORS 547 FALLS ROAD BELFAST BTII 9AB
CONWAY MILL PRESERVATION TRUST LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2023 CONTENTS Page Members and Professional Advisors Trustees Annual Report {includin(y the Statement of Trustees Responsibilities in respect of financial statements) Report of the Independent Examiners to the Trustees, Accounting Policies 9-11 Statement of Financial Activities (incorporating the income and expenditure accoun 12 Balance Sheet 13 Notes to the Financial Statements 14-19
CONWAY MILL PRESERVATION TRUST LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2023 OFFICERS AND OTHER INFORMATION Directors, Jane Burns Andrew Donnelly Moya Hinds Michael Graham Registered Office The Mill 5-7 Conway Street Belfast BT13 2DE Independent Examiners O'Hara Shearer Chartered Accountants and Statutory Auditors 547 Falls Road Belfast, BTI19AB Solicitors Delaney & Co. Solicitors 54 Andersonstown Road Belfast BTII 9AN Bankers Danske Bank Business Banking PO Box 183 Donegall Square West Belfast BTI 6JS Company Registration Number Nt 037461 Charity Commission Northern Ireland NIC 101569 Charity Registration Number XR 35921 Page I
Conway Mill Preservation Trust Limited. Trustees, Annual Report From I" December 2022 -To 30 November 2023 Cl)arity Nic. 101569 Date reElStered. 27/0812015 BiicII rolind The Conway Mill Preservation Trust Limited was established in 30-11-1999 with the aim of preserving, protecting, and restoring the mill complex for the benefit of the inhabitants of Belfast and of West Belfast in particular. Its main functions are- Overseeing the restoration of Conway Mill; EnsurinE that the building's heritage is preserved for future generations; Developing projects and mediums through which visitors, from near and far, can interpret the buildings and the social history of the linen industry and Belfast., Organising events and training related to local heritage preservation. Maintaining the buildings and site and documenting all works. After an extensive refurbishment, (completed in 2011), the Mill is now one of Belfast's best preserved and most important historical buildings. It provides a unique multi-functional space, at the same time preserving the local industrial heritage and history of the area. The mill comprises: Two main blocks linked by a glass roof with an inner court yard; car parks to the front and rear of the complex. Facilities within the Mill Complex include: Disability access; 62 business units, theatre and arts spaces, High speed Wi-Fi connection. Service lifts; Toilet facilities; free onsite parking as well as available street parking. The Conway Mill is one of the last remaining Mill sites in Belfast, and the only one in West Belfast, which is community-owned. In economically devastated West Belfast the Trust recognises the need for local communities to maintain ownership and control of assets and resources which can be used to provide opportunities for people to become active players in the local economy and to improve their quality of life. .MP'I' Charitable oh"ectives are: To presenie for the benefit of the inhabitants of Belfast and in particular of West Belfast whatever of the historical, architectural and constructural heritage may exist in and around the Conway Mill Complex in the form of buildings of particular beauty or historical, architectural or constructional interest.
A stateinent ofthe main ()se% as defined b the cliai-it co Inission 1.%: The advancement of environmental protection or improvement. Wlio do we help. Tenants Voluntary and community sector Interface communities Students Ethnic minorities Specific areas of deprivation Local residents How do we do this? The refurbishment of the two main blocks within the Mill complex has provided great benefits to the area. The board of Trustees continues to work to: Tackle dereliction Facilitate business development Promote educational opportunities Develop economic opportunities Promote Tourism locally Improved health and wellbeing for the people of the area HOW DO THESE ACTIVITIES PROVIDE A BENEFI racilitc1tion of biisiiie%s develo Ineiit We have 62 business units within the Mill complex. Tenants represent the following industries: Architecture & Design; Arts & Crafts; Community, Engineering: Hospitality; Insurance; Music, Media and Production; I. Tourism and Leisure- Legal. Affordable rental units provide essential space for business development and growth. The direct impact is lower employment rates locally. Our tenants are representative of a broad Belfast base. Attracting tenants from across the city raises the profile of the West Belfast neighbourhood and promotes inclusion, innovation, creativity and entrepreneurship. During the period 1st December 2022- 30 November 2023 the Conway Mill Preservation Trust provided the following services- romotion ofedLIC£1tioncil o nrtunities Students of architecture, engineering, history and international studies visit the Mill to explore its industrial and social history, its unique Georgian architecture as seen in the Old Block and the 'new' block representative of Edwardian design. Also, of interest is the transfer of ownership to the local community and the recent history of the Mill.
Local schools, theatre companies, local artists, musicians, heritage bodies, museums, community organisations and production companies have benefitted from access to unique spaces within the complex for the purpose of exhibition, performance, workshops, film and documentary and outreach. Tackle dereliction: Development of The Attic in the Old Block of the main Mill complex; The Drying Room, the Theatre, engine rooms and boiler house. The large Attic is ideal for the development of incubation hubs for new busine55 Start-ups, we continue to explore a way forward to make this happen and are waitinE on confirmation to put in new stairs. The Drying Room is still in need of development to make it a multi-functional creative space. The Theatre has been brought into line with Health and safety regulations with new double doors fitted and a really good makeover which has had great reviews. The Mill Museum is almost ready to open to tourists and the public with some consultation with the NIMC to which we are now members. Some local schools have now used the Mills history and museum as part of their class curriculum. Audits com leted include.. Ansvar Insurance Annual servicing of Lifts Fire Risk assessment Health and Safety audit. Gas boilers serviced Ecolab environmental assessment Lightening audit. Fire and emergency lights Develo econo ortiinities The Attic of the old Mill / engine room and boiler house connected to the Mill complex has been identified for development for much needed start-up businesses. The Board of Directors are exploring the costs of renovation with a view to acquiring funding to aid this much needed development. We are very hopeful we can bring these important parts of the mill complex into use in the future.
The Drying Room_is a unique, dramatic space which is a hidden gem within the Mill. The board are exploring a future funding package to bring this beautiful part of the old mill complex into use. This area is ideal for musical performance, theatre. exhibition of art, installations, presentations and film. We also envisage marketing this space as a unique wedding venue for small intimate weddings. This space really has it all and will be a great asset to the Mill. The Mill Theatre is included in our marketing as a space within the Mill for weddings and other celebrations. As part of our plan to tie in with Failte Feirste Thiar and Belfast Welcome Centre we would hope to promote a package for cruise ship passengers which would encompass a brief history of the Mill, traditional Irish music, song and or dance, food and refreshments. The Theatre will attract a range of creative artists, community groups, businesses and corporations who will be able to avail of the range of packages to fit their needs. Promote Tourism lorall We are developing the Mill museum / exhibition shop, the Board with help from the NIMC and others have been exploring the best way forward with this project. We are keen to make this a reality soon. Our Artists in residence will have an opportunity to exhibit and sell their works in the Museum shop and with the NIMC helping us to make the best of the resources we have at hand and tell story and experience we have of the history of linen production for the local, national and international tourist/ visitors. Staff and Board members engage with Failte Feirste Thiar and community tourism workshops which are city wide and provide great networking opportunities. Creation of new services within the Mill to meet with local and international tourism is a work in progress and we are keen to pursue this via FFT, Belfast Welcome Centre and Belfast City Council to link-in to planned Linen tourism trails. Im roved liealth ancl wellbein During this reporting period the Trust has facilitated the following groups through the use of Units and other spaces for the delivery of arts, community information services, counselling and Intervention services, Education and training. The following is a list of organisations who benefited: John Bosco ABC Food bank Aisling Awards Féile an Phobail Workforce Awards Conway Education Centre AMPS Studio
TarAnall SIPS Conway Education Centre MENI; Private benefit- This is no private benefit. DECLARATION The trustees declare that they have approved the trustees, report above. Signed on behalf of the chariws trustees Full Name(s) Mr Andrew Martin Donnelly Position Director DATE 3011112023
CONWAY MILL PRESERVATION TRUST LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2023 Independent Examiner's Report to the Trustees of Conway Mill Preserv*tioD Trust Limited report to the trustees on my examination of the financia] statemenls of Conway Mill Preservation Trust Limited for the year ended 30th November 2023. Responsibilities and basis of report As the trustees of the charity (and also its directors for the purpose5 of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satistied myself that the tinancial Sthlements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination. It is my restxynsibility to= examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008. follow the pmcedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act- and state whether particular matters have come my attenuon. Basi5 of independent examiner's report I have examined your charity accounts as required under section 65 ofthe Charilies Act and my examination was carried out in a¢¢ordan¢e with the general Directions given by the Charity Commission for Northern Ireland under 5eclion 6i(9llb) of the Charities ACL The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those record5. It also includes consideration of any unusual items or disclosures in the accounts, and seeking e,xplanations from you as charity trustees conLeming any such matters. I have completed my eyamination. I confirni that no matters have come to my attention in connection with the e.xamination giving me cause lo believe that in any material respect= l. That accounting records were not kept in accordance with section )86 of the Companies Act 2006 . or 2. Thai the financial sLgtements do not accord with those accounting records . or 3. That the finan¢iai statements do not comply with the accounting requirements of section J96 of the CompleS Aci 2006 other than any requirement that the finan¢iai statements give a true and fair view which is not a matter considered as part of an independent examination. or 4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) Indepettdent examiner's ststement I have completed my examination and have no concerns in respe ol the maners {1 ) 10 {4) listed ai)ove and, in connection with following the Directions of the Charity Commission for Northern Ireland. I have found no matters that require dr ing to your attention. LAWRENCE SHEARER F.C.A., Senior Stathtory Auditor FOR AND ON BEHALF OF O'HARA SHEARER, Stalu¢ory Auditor O'HARA SHEARER CHARTERED ACCOUNTATrrrs AND STATUTORY AUDITORS 547 Falls Road Belfast BTI 19AB Dated: 26th June 2024 Page 8
CONWAY MILL PRESERVATION TRUST LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2023 STATEMENT OF ACCOUNTING POLICIES Accounting Convention and Basis of Accounting The financial statements have been prepared under the historical cost convention. 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 which applies 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} and the Companies Act 2006. Going Concern At the time of approving the financial statements. the trustees, have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees, continue to adopt the going concern basis of accounting in preparing the financial statements. Income Recognition Income is recognised when the Charity has entitlement to the funds, any perforniance conditions attached to the item(s) of income have been meL it is probable that the income will be received and the amount can be measured reliably. Interest Receivable Interest on funds held is included when receivable and the amount can be measured reliably. this is normally upon notification of the interest paid or payable by the Bank. Resources Expended All expenditure is accounted for on an accruals basis and is classified under headings that aggregate all costs related to the category. Fundraising costs include the costs of advertising, producing publications, printing and mailing fundraising material, and staff costs in these areas. Costs of charitable activities include direct expenditure incurred through operational activities. Governance costs represent the costs assoclated with the governance arrnngements of the charity which relate to the general running of the charity as opposed to those costs associat¢d with fundraising or charitable activity. Fixed Assets All tangible fixed assets are recorded at cost. Page 9
CONWAY MILL PRESERVATION TRUST LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2023 STATEMENT OF ACCOUNTING POLICIES Continued Depreciation Depreciation is calculated to write off the cost of fixed assets over their estimated useful lives at the following rates: Land and Buildings Computer Equipment Plant and Equipment 0% residual value 200/0 straight line 20 % straight line Repairs and Renewals All repairs and renewals are written off as incurred Pension Costs The charity does not currently operate a pension scheme. Debtors and Prepayments Trade debtors and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Creditors and Provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Financial Instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Foreign Currencies Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the net movement in funds. Page 10
CONWA Y MILL PRESERVATION TRUST LIMITED FINANcL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2023 STATEMENT OF ACCOUNTING POLICIES Conlinued Fund Aceounting Unrestricted funds are general ndS that are available for use at the Trustees, discretion in furtherance of the objectives of the charity. Designated funds are unrestricted funds set aside by the trustees out of unrestricted funds for specific future purposes. Restricted funds are those given for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. The income received from nderS depends on the charity meeting detailed criteria on expenses plans. Grants given under such conditions are also given subject to them being obtained for in connection with the furtherance of the charity's aims and objectives. Such income can be repayable to the funder if such expenses plans and criteria are not met. Such income is only defeed when the donor specifies that the grantldonation must only be used in future accounting periods. or the donor has imposed conditions which must be met before the chartty has unconditional entitlement. Income from charitable activities includes income received under contract or where entitlement to grant funding is subject to specific perlortnance conditions is recognised as earned as the related goodslservices are provided. Grant income included in this category provides funding to support perforniance activities and is recognised where there is entitlemenL certainty of receipt and the amount can be measured with sufficient reliability. Income is defeed when: fees/perfomiance related grants are received in advance of the perforniancelevent to which they relate. Reserves Policy Unrestricted funds are needed to provide funds which can be applied to specific projects to enable these projects to be undertaken at short notice and to cover the running costs of the Charity for a limited period, should there be a significant shortfall in projected income. Pagell
CONIVA Y hllLL PRF.SERI'ATION TRIIST LI1[TED STATEIIIF.NT OF FIN.4NC'I.-11. A(TII'I'I'I ES the income and ex F()R TIIE I'EAR F.NDED 30'1'H NoyF.[B[,-R 2023 intnr ratin enditure attount Ilnrestrieted Restricted EndoivDmeTht TOTAL Funds Funds 202J TO"I'AL 2022 INCOME AND ENDOWNi¥IEwfs FRONI: Donations and legacies Income from inveslmenis Inconic froni charitable activities Income fmm other trading activilies 80 204,242 80 204.242 13 208.653 50 TOTAL INCOMF. AND ENDOIVNi¥IENTS 2114J22 204J22 208,716 EXPII NDITIIRE ON: Expenditure on raising funds Expenditure on charitable activities oiher expenditure Net gainsllloss¢s) on investments 164.027 164,027 194,433 TOTAL RESOURCES EXPENDED 164.027 164.027 194,433 NET INCOiWIEI{IXPENDITIIRE) 14,283 Transf¢rs between fund5 NET MOVII MENT IN FUNDS 14,2113 RECONCILIATION OF FUNDS TOTAL FUNDS BROUGFIT FORIYARD 500 3.239.820 3.240,320 3.226,037 TOTJIL FIINDS CARRIED FORWARD 500 3.2811,115 3,280.61 S 3,24n,320 The StatemtTht of Financial Actiyities ineludt5 411 gains and losses in the year and therefore * Sta¢emtnt of Total Recognised Gains $StS has Troi been prepared All of the aboyt amounts relate to eontinuing acfivities The Ac¢ompaying actountiDg po5 Ithd the form part ofthue fipDcixI ststemetht$ Poge 12
CONWAY MILL PRESERVATION TRUST LIMITED BALANCE SHEET AS AT 30TH NOVF.MBER 2023 2023 2022 NOTES FIXED ASSETS Tangible assets 3,604,575 3,605,540 CURRENT ASSETS Debtors and prepayments Cash at bank Cash on deposit Cash in hand 10 23,089 70,875 9,697 1,015 104,676 10,845 72,010 9,616 1,356 93,827 Creditors: amounts falling due within one year (28,615) (26,552) NET CURRENT ASSETSI(LIABILITIES) 76,061 67,275 TOTAL ASSETS LESS CURRENT ASSETSI( LIABILITIES ) 3,680,636 3,672,815 Creditors: amounts falling due after more than one year 12 (400,021) (432,495) NET ASSEI TSI(LIABILITIES) 3,280,615 3,240,320 FUNDS: ENDOWNMENT FUNDS UNRESTRICTED INCOME FUNDS 13114 500 500 RESTRICTED INCOME FUNDS 13115 3.280,115 3,239,820 3,280,615 3,240,320 These financial statements were approved by the Trustees on 26th June 2024 and are signed on their behalf by: ANDREW DONNELL DIRECTOR JANE BURNS DIRECTOR DATE 26th June 2024 The Aceompanying accounting policies and notes form part of these financial statements Page 13
ONWAY MILL PRESERVATION TRUST LIMITED NOTES TO THE FINANCIAL STATEMEf4lTS FOR THE YEAR ENDED 30TH NOVEMBER 2023 I. DONATIONS AND LEGACIES Unrestricted Restricted Fvnds Fund5 Unrestrieted Restricted Funds Funds 2023 2022 Donations Legacies 2. INCOME FROM INVESTMENTS Unrestricted Restricted Funds Funds Unrestrieted Restricted Funds Funds 2023 2022 Incomc from UK listed investmcnls Income from cash 80 80 13 13 80 80 13 13 3. INCOME FROM CHARITABLE AcfivITIES Unrestricted Restricted Funds Funds Unrestrieted Restrieted Funds Funds 2023 2022 Rcnl and service ¢harges receivable Conway street Community Enlery)rises Project Limited National Hcrilage fund 204,242 204.242 208,653 208.653 204.242 204,242 208.653 208,653 4. INCOME FROM OTHER TRADING AcfiviTIES Unrestricted Restricted Fllnds Funds Unrestricted Restricted FuNds Fllnds 2023 2022 rundraising Room hirc 50 50 50 50 Page 14
COP4WAY MILL PRESERVATION TRUST LIMITED NOTES TO THE FINAYI CIAL STATEMEINTS FOR THE YEAR EINDED 30TH NOVEMBER 2023 5. EXPENDITURE ON IL4ISING FUNDS Unrestricted Restricted Funds Funds Unrestricted Restrieted Funds Funds 2023 2022 Promotional and fundraising costs 6. EXPENDITURE ON CHAIUTABLE ACTIVITIES Unrestricted Restricted Funds Fund5 Unrestricted Restricted Funds Funds 2023 2022 Wages and salaries {See Note 8) Social security costs (See Note 8} Repairs and otficc mainienance Printing, postage, stationery and advertising Conway Street Community Enterprises Project Limited Sundry expenses 10,692 150 13,000 1,080 10.692 150 13.000 1.080 11,291 238 66,866 1,208 11.291 238 66,866 1,208 24,922 24.922 79.603 79.603 Support Costs and Governance costs Light and heat Telephone and internet Water rates Insurance Accountaney fees Covid-19 complianee planning Other professional fees Subwriptions and licences Dcprcciation Loan interest Bank InteSt and charges 75,397 75.397 67,190 67,190 11,713 12,162 1.910 11.713 12,162 1,910 10,262 10,562 1.820 843 2.081 10,262 10.562 1,820 843 2,081 2,796 26 965 33,901 235 2,796 26 965 33.901 235 965 20.894 213 965 20,894 213 139.105 139.105 114.830 114,830 TOTAL EXPENDITURE ON CHARITABLE ACTIVITIES 164,027 164,027 194.433 194,433 Page 15
CONWAY MILL PRESERVATION TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2023 7. NET (OUTGOING)/ INcoltING RESOURCES FOR THE YEAR This is stated after chargingl(crediting) 2023 2022 Independent examiners remuneration Depreciation 1,910 965 1,820 965 8. SALARY COSTS AIYD EMOLUMENTS 2023 2022 Total staff costs were as follows: Wages and salaries - key management personnel Wages and salaries - other staff Staff pension costs Employer social security Costs - key management personnel Employer social security costs - other staff Employer social security Costs - Ernployment Allowance The average monthly number of employees during the year w&s as follows: 2023 Number 2022 Number No employees had emoluments in excess of £60,000 (2022: £Nil) Trustees, remuneration 2nd benefits There was no trustees, remuneration or other benefits for the year ended 30th November 2023. (2022: £Nil) Trustees, Expenses There were no trustees, expenses paid for the year ended 30th November 2023. (2022: £Nil) Page 16
CONWAY MILL PRESERVATION TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2023 9. TANGIBLE FIXED ASSETS Land and Buildings Computer Plant & Equipment Equipment Total COST As at I st December 2022 3,603,455 3,375 1,451 3,608,281 Additions Disposals As at 30th November 2023 3,603,455 3,375 1,451 3,608,281 DEPRECIATION As at I st December 2022 2,025 716 2,741 Charge for year Eliminated on disposal 675 290 965 As at 30th November 2023 2,700 1.006 3,706 Net book value 2023 3,603,455 675 445 3,604,575 Net book value 2022 3,603.455 1,350 735 3,605,540 The land and buildings, stated at cosL relate to the Conway Mill Complex situated at, The Mill, 5-7 Conway StreeL Belfast, BT13 2DE. According to the tenns of a Letter of Offer issued by the Department of Enterprise, Trade and Investment on 18th September 2009, the Department's five year Control Period expired on 16ih June 2016 being the fifth anniversary of receipt of all pre-completion conditions. With effect from 16th June 2016 therefore, the Conway Mill Preservation Trust workspace development project is no longer bound by the Department's Letter of Offer. Legal Charge A legal charge was taken out on the property on 20th January 2012, as the Control Period expired on 16th June 20 I6 it will be necessary for Conway Mill Preservation Trust Limited to have a fom]al 'Deed of Release" drawn up and issued to the Department of Enterprise, Trade and Investment for execution in order to clear this charge from the title deeds. The directors, have arranged with the charity's solicitor to draw up a fornial Deed of Release for approval of, and execution by the Department of Enterprise, Trade and Investment. The Charity's solicitors have now confirnied in December 2023 that registration of the Deed of Release in the Registry of Deeds is now complete and the charges in relation to the Department for Communities, Department for the Economy and International Fund for Ireland have been registered as satisfied at Companies House. Page 17
CONWAY MILL PRFSF.RVATION TRUST LIMITED NOTF.S TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2023 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Debtors Prepayments 21,062 2,027 8,818 2,027 23,089 10,845 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Social security costs and other taxes Accrued expenses Loan - The Architectural Heritage Fund 14,469 14,146 12,678 13,874 28,615 26,552 12. CREDITORS: AMOUNTS FALLINC DUE AER ONE YEAR 2023 2022 Loan - The Architectural Heritage Fund Danske Bank Bounce Back Loan 371,571 28,450 395,279 37,216 400,021 432,495 This loan relates to a mortgage deed created 7th November 2008 between Conway Mill Preservation Trust Limited and The Architectural Heritage Fund. The principal sum was £500,000. 13. MOVEMENT IN FUNDS Opening Net Movement Balance in Funds 2023 2022 Unrestricted Income Funds General fund 500 500 500 500 500 500 Opening Nel Movement Balance in Funds 2023 2022 Restricted Income Funds Building nd 3,239,820 40,295 3,280,115 3,239,820 3.239.820 40,295 3,280,115 3,239,820 Page 18
CONWAY MILL PRESERVATION TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2023 14. UNRESTRICTED INCOME FUNDS 2023 2022 Balance at I st December 2022 500 500 Incoming resources for the year Resources expended for the year Balance at 30th November 2023 500 500 15. RESTRICTED INCOME FUNDS 2023 2022 Balance at 1st December 2022 3,239,820 3,225,537 Incoming resources for the year Resources expended for the year 204,322 208,716 (164,027) (194,433) Balance at 30th November 2023 3,280,115 3,239,820 16. LEGAL STATUS Conway Mill Preservation Trust Limited is a Company Limited by Guarantee. Each member has agreed to contribute £1 in the event of a compulsory winding up. Conway Mill Preservation Trust Limited is a recognised Charity within the definition of Section 360(3) Income and Corporation Taxes Act 1970 by the Commissioners of the Inland Revenue. Conway Mill Preservation Trust Limited is a Charity registered with The Charity Commission for Northern Ireland Charity Number l 01569. Date of Registration 27th August 2015. Page 19