Company Number: N1018464
Charity Commission for Nl: 101571
FERMANAGH ENTERPRISE LIMrrED
(Charitable Company Limited by guarantee)
ANNUAL. REPORT AND AUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

FERMANAGH ENTERPRISE LIMITED
(Charitable Company Limited by Guarantee)
CONTENTS
Page
General Information
Directors. Report
Independent Audltor's Report
8-10
Statement of Flnanclal Attlvities
li
Statement of Flnanclal Position
12
Statement of Cash Flows
13
Notes to the Flnanclal Statements
14-21
CavanaghKelly"

FERMANAGH ENTERPRISE LIMITED
(Charitable Company Limited by Guarantee)
GENERAL INFORMATION
Dlrectors
J Byrne
T Harpur - Chairperson
U Lilley
T Maguire
T Mccartney
J Mccrea
P Roblnson
Company Secretary
A Nonaghan
Registered Offlce
Enniskillen Business Centre
21 Lackaghboy Road
Ennlsklllen
Co Fermanagh
BT74 4RL
Company reglstratlon number
N1018464
Charlty Comml$sion for Nl number
101571
Auditors
CavanaghKelly
36-38 Northland Row
Dungannon
Co Tyrone
BT71 6AP
Sollcltors
Murnaghan and Fee
Boston Chambers
Queen Ellzabeth Road
Enniskillen
Co Fermanagh
BT74 7JA
Bankers
Bank of Ireland
7 Townhall Street
Ennlskillen
Co Fermanagh
BT74 7BD
Natlonwlde BLtlldlng Soclety
19 Hlgh Street
Ennlsklllen
BT74 7DD
Danske Bank
24 Townhall Street
Enniskillen
Co Fermanagh
BT74 7BB
CavanaghKelly"

FERMANAGH ENTERPRISE LIMITED
(Charitable Company Limited by Guarantee)
DIRECTORS. REPORT
FOR THE YEAR ENDED 31 MARCH 2023
The directors, who are the trustees for the purpose of charity law, present thelr report and the audlted flnancial
5tatement5 of the charitable company for the year ended 31 March 2023.
The flnanclal statements have been prepared In accordance wlth the Statement of Recommended Practlce
"Accounting and Reportlng by Charities" (FRS 102) and the Companies Act 2006.
Reference and Administration Detalls
The reference and adminlstration details of the charlty are as shown on page 2.
Objectives and Actlvltles
Objectives
The principal actlvlty of the charStable company Is the promotion, for the publlc beneflt, of urban and rural
regeneration in Co Fermanagh and the surroundlng areas. Fermanagh Enterprlse Llmlted seeks reallstic
solutions to the problem of unemployment through promotSng the establishment, development and growth of
small buslnesses In Co Fermanagh.
Activlties
The charitable company's actlvities Include the provision of workspace for small and medlum enterprlses and
the dellvery of training and support Services to local buslnesses, communlty organ15ations and indlviduols. The
charltable company provldes advlce and guidance to people conslderlng self employment as well as delivering
buslness training and mentoring through varlous programmes.
Fermanagh Enterprise Llmlted 15 responsible for the management and operatlon of the Buttermarket, the
Ennlsklllen Business Centre, the Killyhevlln Buslness Centre and the Abbey House Buslness Centre, all of whlch
are located in Ennlsklllen, Co Fermanagh.
Publlc Benefit Statement
The directors of Fermanagh Enterprlse Llmlted confirm that they have complied with thelr duty under sectlon
4(b) of the Charltles Act (Northern Ireland) 2008 to have regard to the Charity Comm155ion for Northern
Ireland's guldance on public beneflt and that the public benefit requirement has informed the actlvltles of the
charltable company In the year ended 31 March 2023.
Achlevements and performance
The charltable company dellvered several programmes durlng the year: Klck-start; Co-lnnovate and Go For It.
Fermanagh Enterprlse Llmlted has contlnued to provlde commerclal premlses malntalning high levels of
occupancy:
Buttermarket 99 % (2022: 960/0).
Ennlsklllen Business Centre 990/0 (2022: 970/0);
Killyhevlln Business Centre 870/0 (2022: 95Wo); and
Abbey House Business Centre 94010 (2022: 990/0).
CavanaghKelly"

FERMANAGH ENTERPRISE LIMITED
(Charitable Company Limited by Guarantee)
DIRECTORS. REPORT (continued)
FOR THE YEAR ENDED 31 MARCH 2023
Financial Review
Financial Performance
The company is a charitable organisation. The result5 for the year are set out In detall on page5 11 to 21. The
company returned net Incoming resources for the year of £31,976 (2022: £62,869).
At 31 March 2023, the total fund5 of the charitable company amounted to £2,834,850 (2022: £2,802,874)
comprising Deslgnated £400,000, Unrestricted £2,428,887 and Restricted £5,963 (2022.. £300,000 £2,488,409
and £14,465). Prlncipal SOLsrces of fundlng and how this has supported the key objectives of the charity are
dlsclosed In the notes to the financial Statements.
Recent years have been challenging for the small and medlum buslness sectors to whlch Fermanagh Enterprise
Limited provldes services and facllities. Changes in government fundlng have resulted in a reduction In the
avallablllty of programmes which the charltable company delivers and increased competltion from other
provlders has proved a challenge for the charitable company. However, the directors and management consider
that the charltable company Is In a strong position because of it5 knowledge of the enterprlse environment and
the quallty of servlce provided to win and dellver programmes to SMES into the future.
The charltable company's success is dependent on the ongolng management of buslness rlsks and the
uncertalntie5 It faces. The directors Intend to malntaln and develop the buslness further as the charltable
company provldes a quallty service In the area and through better management of costs and improved
efficiencies wlthln the business.
Reserves pollcy
In order to maintain and develop support to the company's small business start-up and growth cllents in a
strategic way, the directors recognise the need to malntaln sustalnablllty both of the skllls and experience
accrued by the staff and the extensive workspace built to provlde an Important buslness location for the tenant
buslnesses.
The directors also recognlse the rlsks associated with the short-term nature of much of the support programmes
currently being dellvered, all of whlch are subject to tender on the open market as well as being influenced by
the budget restrlctlons and limitations of bodles whlch are well outslde the control or Influence of the dlrectors
themselves.
In order to be able to provide ￿liable 5ervlces over the longer tem, the company must be able to absorb
setback5 and to take advantage of change and opportunity. The director5 have agreed to seek to build financlal
reserves which will allow Fermanagh Enterprise Llmlted to:
meet future commltments or unforeseen expenses wlthout a negatlve Impact on Its abillty to deliver
services;
take advantage of any future business opportunltles whlch may present themselves;
be in a position to respond to any developing rnarket demand for 5ervlces over and above that
provided from the company's current portfollo.
Absorb some of the impact of falllng revenues caused by the current pandemic and any future crises.
CavanaghKelly"

FERMANAGH ENTERPRISE LIMITED
(Charitable Company Limited by Guarantee)
DIRECTORS. REPORT (continued)
FOR THE YEAR ENDED 31 MARCH 2023
In keeplng with the strateglc direction of the companyi a key aspect is the monitorlng of occupancy levels in
the Buttemarket, Enn15klllen Business Centre, Killyhevlln Business Centre and Abbey House Business Centre.
Deflnltlon of Reserves
For the purposes of this pollcy the term "Reserve5" 15 applled to that part of the company's income that is freely
available for its general purposes. Reserves are the resources the company has or can make avallable to spend
for any or all of its purposes, once It has met its commitments and covered its other planned expendlture. Thls
definition excludes unspent money from restricted grants or fund5 where thi5 is relevant.
Extent of Reserves
The reserves are needed to secure the viablllty of Fermanagh Enterprise Limited, meet unforeseen
contingencies, develop and grow the servlces of the company are dependent on a number of external factors
including market demand for property and micro and macro trends in the economy. The extent of the reserves
requlred Is Ilkely to be anything from £600k to £1.5m.
The Board plan to bulld reserves year on year from trading surpluses, if available, and wlll revlew the reserves
policy annually.
Structure, Governance and Management
Organisational Structure
The company Is a charltable company limited by guarantee.
On 9 February 2015 the company was registered as a charlty wlth the Charity Commlsslon for Northern Ireland.
The company is governed by the Board of Dlrettors. None of the directors has a beneflclal interest In the
company. The Manager was responsible for the supervlslon of the day-to-day operations of the charltable
company through out the year.
The names and addresses of those organlsatlons provldlng banklng servlces or professlonal advice to the
charltable company are listed on page 2.
Dlrectors
The directors who served durlng the year, except where stated otherwlse, were a5 follows:
Name:
James Byrne
Thomas Harpur
Una Lilley
Tommy Magulre
Terence Mccartney
Jenny Mccrea
Paul Roblnson
Offlce:
Appointed:
11 March 2020
2 November 2011
6 December 2019
23 january 2020
li October 2002
li October 2002
17 June 2005
Resi9ned:
Chairman
Compensation of Key Management Personnel
The dlrectors meet annually with the key management personnel to set targets for the forthcoming year and to
review the prevlous year5. performance. Compensation levels are set based on performance and the ability of
the charitable company to be able to afftird any proposed increases in salaries.
CavanaghKelly"

FERMANAGH ENTERPRISE LIMrrED
(Charitable Company Limited by Guarantee)
DZRECTORS. REPORT (contlnued)
FOR THE YEAR ENDED 31 MARCH 2023
Taxation status
The company is recognised as a charlty by HM Revenue & Customs. Accordingly, the company has avalled of
the exemptions contained In Chapter 3 Part 11 Corporation Taxes Act 2010 and Section 256 Taxation of
Chargeable Gains Act 1992.
Directors, Responsibilitles Statement
The directors are responsible for preparing the financia5 statements In accordance wlth applicable law and Unlted
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the directors to prepare financlal statements for each financial year which give a true
and fair view of the state of affairs of the charltable company and of the Incoming resources and appllcatlon of
resources, Including the Income and expendlture, of the charltable company for that year. In preparing these
flnanclal statements, the dlrectors are requlred to:
selett suitable accounting policie5 and apply them conslstently;
obsenie the methods and prlnclple5 In the Chorities SORP (FRS 102);
make Judgements and estlmates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any materlal
departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basi5 unless It Is Inappropriate to presume that
the charitable company will contlnue In operation.
The dlrectors are responsible for keeping adequate accountlng records which dlsc105e with reasonable accuracy
at any tlme the flnancial position of the charitable company and to enable them to ensure that the financial
Statements comply wlth the Companies Act 2006. They are also responslble for safeguardlng the assets of the
charltable company and hence for taking reasonable steps for the preventlon and detection of fraud and other
irregularities.
Statement of Disclosure of Informatlon to Auditor
In so far as the dlrectors, who held office at the date of approval of these flnanclal statements, are aware:
There Is no relevant audit informatlon of whlch the company's audltorls unaware; and
The dlrectors have taken all steps that they ought to have taken to make themselves aware of any
relevant audit informatlon and to establish that the audltor Is aware of that Information.
Small company exemptlon
This report has been prepared in accordance wlth the speclal provlslons relating to small companles wlthln Part
15 of the Companles Act 2006.
Auditorg
CavanaghKelly are deemed to be reappointed auditors in accordance with Sectlon 487(2) of the Companies Act
2006.
CavanaghKelly"

FERMANAGH ENTERPRISE LIMITED
(Charitable Company Limited by Guarantee)
DIRECTORS. REPORT (contlnued)
FOR THE YEAR ENDED 31 MARCH 2023
This report was approved by the Board on 28 November 2023 and signed on its behalf by:
Monaghan
cretary
Registered office:
Ennisklllen Buslness Centre
21 Lackaghboy Road
Enniskillen
BT74 4RL
Company Reglstratlon number: N1018464
Charity Commisglon for NI number: 101571
CavanaghKelly"

FERMANAGH ENTERPRISE LIMITED
(Charitable Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2023
Opinlon
We have audited the financial 5tatement5 of Fermanagh Enterprlse Llmited ('the charitable company,) for the
year ended 31 March 2023 whlch comprise the Statement of Financial Actlvltles, the Statement of Financial
Position, the Statement of Cash Flows and the related notes to the financial statements, includlng a summary
of slgnlficant accounting policies. The financial reporting framework that has been applied in thelr preparation
Is applicable law and United Kingdom Accounting Standard5, Including FRS 102 "The Financial Reportlng
Standard appllcable In the UK and Republlc of Ireland. (Unlted Kingdom Generally Accepted Accounting Prattlce)
applying Sectlon IA of that standard.
This report is made solely to the charltable company's directors/ trustees, as a bodyi in accordance with Chapter
3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the
charltable company's directors / trustees those matters we are requlred to state to them In an audltor's report
and for no other purpose. To the fullest extent permltted by law, we do not accept or assume responslbility to
anyone other than the charltable company and the charitable company's dlrectors / trustees as a body, for our
audit work, for thls report, or for the Oplnlons we have formed.
In our opinion the financlal statements:
glve a true and fair vlew of the state of the charitable company's affair5 a5 at 31 March 2023 and of its
total incomlng resources and expendlture of resources, including Its Income and expenditure, for the
year then ended;
have been properly prepared in accordance wlth United Kingdom Generally Accepted Accountlng
Practice. and
have been prepared in accordance wlth the requlrements of the Companies Act 2006.
Basls for oplnion
We conducted our audlt In accordance wlth Internatlonal Standards on Auditing (UK) (ISAS (UK)) and appllcable
law. Our responslbilities under those standards are further descrlbed In the Auditor's responslbilltles for the
audlt of the flnancial statements settlon of our report. We are Independent of the company In accordance wlth
ethlcal requlrements that are relevant to our audit of the financlal statements In the UK, includlng the FRC'S
Ethical Standard, and we have fu Ifllled our other ethical re5ponsibilitie5 in accordance with these requlrements.
We belleve that the audit evidence we have obtained Is sufficlent and appropriate to provide a basis for our
oplnlon.
Concluslons relating to going concern
We have nothing to report In respect of the followlng matters in relation to whSch ISAS (UK) requlre us to report
to you where:
the dlrectors, use of the going concern basis of accounting In the preparation of the financial statements
is not appropriate. or
the dlrectors have not dlsclosed In the flnanclal statements any Identified materlal uncertalntles that
may cast significant doubt about the charitable company's abillty to continue to adopt the going concern
basis of accounting for a period of at least twelve months from the date when the fi'nancial statements
are authori5ed for i55ue.
CavanaghKelly"

FERMANAGH ENTERPRISE LIMITED
(Charitable Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT (continued)
FOR THE YEAR ENDED 31 MARCH 2023
Other Information
The directors are responslble for the other information. The other infom)ation comprlses the informatlon
included in the Directors. Report, other than the financial statements and our Auditor's Report thereon. Our
opinion on the financial statements does not cover the other Informatlon and, except to the extent otherwise
explicitly stated In our report, we do not express any form of assurance conclusion thereon.
In connectlon wlth our audit of the flnanclal statements, our responsibility Is to read the other infomiatlon and,
In doing so, conslder whether the other Information is materially Inconsistent with the financlal statements or
our knowledge obtained in the audit, or otherwise appears to be materlally mlsstated. If we identify such
material inconsistencles, or apparent materlal misstatements, we are requlred to determlne whether there is a
material mlsstatement in the financlal statements or a material misstatement of the other information. If, based
on the work we have performed, we conclude that there is a materlal misstatement of this other informatlon
we are requlred to report that fact. We have nothlng to report In thls regard.
Oplnlons on other m•tters prescribed by the Companies Act 2006
In our oplnlon, based on the work undertaken in the course of the audlt..
the Informatlon glven In the Directors, Report for the financial year for whlch the financlal statements
are prepared is conslstent wlth the financial stotements. and
the Directors, Report has been prepared In accordance wlth appllcable legal requlrements.
Matters on whlch we are required to report by exceptlon
In the light of our knowledge and understanding of the charitable company and it5 environment obtalned In the
course of the audit, we have not Identified material mlsstatements in the Directors, Report.
We hove nothlng to report In respett of the following matters in relation to whlch the Companies Act 2006
requires US to report to you if, in our oplnlon:
adequate accounting records have not been kept, or returns adequate for our audlt have not been
recelved from branches not vlslted by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain dlsclosures of directors, remuneratlon speclfled by law are not made. or
we have not received all the Information and explanations we require for our audit. or
the directors were not entitled to prepare the flnanclal statements In accordance wlth the small
companles, reglme and take advantage of the small companles, exemptlon In preparlng the Dlrectors,
Report.
Responslbllltles of Dir•ctors / Trustees
As explained more fully In the Directors, Responsibilitles Statement, the directors (who are also the trustees of
the charitable company for the purpose of charity law), are responsible for the preparation of the financlal
statement5 and for being satisfied that they give a true and fair view, and for such internal control as the
Director5 determine is necessary to enable the p￿paratIOn of financial statements that are free from materlal
mlsstatement, whether due to fraud or error.
In preparing the financlal statements, the director5 are responsible for assesslng the company's ablllty to
continue as a going concern, di5closingi as applicable, matters related to going concern and uslng the golng
concern ba515 Of accounting unless the directors either intends to liquidate the charitable company or to cease
operations, or has no realistic alternatlve but to do 50.
CavanaghKelly"

FERMANAGH ENTERPRISE LIMITED
(Charitable Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT (continued)
FOR THE YEAR ENDED 31 MARCH 2023
Auditor's responsibilities for the audit of the flnanclal statements
Our objectives are to obtain reasonable assurance about whether the flnanclal statement5 as a whole are free
from material mlsstatement, whether due to fraud or error, and to issue an Auditor's Report that Includes our
oplnlon. Reasonable assurance Is a high level of assurance but Is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misstatement when it exists. Mlsstatements can arlse
from fraud or error and are consldered material if, indivldually or in aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basi5 of these financial statements.
A further descriptlon of ou r responsibi lities for the audlt of the financlal statements is located on the Flnanclal
Reportlng Council's webslte at www.fr
.or
This descriptlon forms part of our
audltor's report.
Mr. Ryan Falls FCA
(S•nior Statutory Audltor)
For and on behalf ol
CavanaghKelly
Chartered Accountants and Statutory Auditors
36 38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP
Date: 28 Novamber 2023
CavanaghKelly"
io

-144>4
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In¢D
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ID￿

FERMANAGH ENTERPRISE LIMITED
(Charitable Company Limited by Guarantee)
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023
Note
2023
2022
Fixed Assets
Property, Plant and Equipment
2,231,254
2,298,880
Current Assets
Inventories
Receivables
Cash at bank and in hand
500
67,158
649 818
717,476
500
67,034
611 313
678,847
li
Payables: amounts falllng
due within one year
12
(113,880)
(174,853)
Net Current assets/(liabilities)
603 596
503 994
Net Assets
13
2 834,850
2 802 874
REPRESENTED BY:
Designated Funds
Unrestricted Funds
Restrlcted Funds
14
14
14
400,000
2,428,887
5,963
2 834 850
300,000
2,488,409
14,465
2 802 874
Total Funds
These financlal statements have been prepared in accordance with the special provisions of the Companies
Act relating to small companles.
The notes on pages 14 to 21 form an integral part of these financial statements.
These financial statements were approved and author
behalf by:
ed for Iss
by the dlrectors and signed on their
T Harpur
Chalrman and dlrector
artney
Date: 28 November 2023
Company Registratlon number: N1018464
Charlty Commlsslon for NI number: 101571
CavanaghKel
12

FERMANAGH ENTERPRISE LIMITED
(Charitable Company Limited by Guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2023
2023
2022
Cash flows from operating activities
Surplus/(Deficit) for the year
31,976
62,869
Adjustments for:
Depreciation
96,486
128,462
103,315
166,184
Movements in working capital..
Movement in receivables
Movement in payables
(124)
60,973
(19,471)
41,999
22,528
Net cash (used In)/generated from operatlng actlvltles
67,365
188,712
Cash flows from Investlng actlvlties
Payments to acqulre property, plant and equipment
(28,860)
(46,228)
Net (decrease)/lncrease In cash and cash equlvalents
38,505
142,484
Cash and cash equivalents at beglnnlng of financial year
611,313
468,829
Cash and cash equivalents at end of financial year
649,818
611,313
Cash and cash equivalents consist of:
2023
2022
Cash at bank and in hand
649,818
611,313
CavanaghKelly°
13

FERMANAGH ENTERPRISE LIMITED
(Charitable Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
I. GENERAL INFORMATION
Fermanagh Enterprise Limited is a charitable company limited by guarantee, incorporated in Northern
Ireland. In the event of the charitable company being wound Upi the liability in respect of the guarantee is
limited to £1 per member of the charitable company.
The addre55 of the registered office is as shown on page 2.
The charitable company constitutes a public benefit entity as defined by FRS 102.
2. ACCOUNTING POLICIES
The following accounting policies have been applied consistently in dealing with items which a￿ considered
material in relation to the company's financial statements.
Statement of Compliance
The financial statements have been prepared in accordance with Accounting and Reportlng by
Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their
financial statements In accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) Section IA effective l January 2019 (Second Edition), the
Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS
102) and the Companies Act 2006.
Basls of Preparation
The flnancial statements are prepared on a golng concern basis under the hlstorlcal cost
convention un le55 Otherwise stated in the relevant accounting policy. Historical cost Is generally
based on the fair value of the consideration given in exchange for assets. The following
accounting policies have been applled consistently In deallng wlth Items which are considered
material in relation to the charitable company's financial statements..
Income and Endowments
Charltable Activities
Income from charitable activities includes income received under contract or where entitlement
to grant funding is subject to specific performance conditions. It is recognised as earned as the
related Services or goods are provided. Grant income included in this category provide5 funding
to support projects and is recognised where there is entitlement, certainty of receipt and the
amount can be measured with sufficient reliability.
Expenditure
Expenditure is recognised when a liability is incurred. Contractual arrangements and
performance related grants are recognised as goods and services are supplied. Where costs
cannot be directly attributed to a particular heading they have been allocated to activities on
ba515 con515tent with use of resources. staff costs and overhead expenses are allocated to
activities on the bas15 of staff time spent on those activities.
CavanaghKel
14

FERMANAGH ENTERPRISE LIMITED
(Charltable Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (contlnued)
FOR THE YEAR ENDED 31 MARCH 2023
ACCOUNTING POLICIES (continued)
Charitable activities
This compromises all the resources applied by the charitable company in undertaking its work to
meet its charitable objectives. Charitable activities will include the costs of governance arrangements
to the general running of the charitable company.
Fund Accounting
The charitable company has three types of funds for which it is responsible at the year-end:
Deslgnated Funds - Such funds are held by the charltable company to meet the costs of future
capital projects. The charitable company aims to withhold a portion of Its Surpluses each year to
help meet these costs. These funds a￿ in additlon to the charitable company's reserve pollcy.
Unrestricted Funds - Funds whlch are expendable at the discretion of the directors In furtherance
of the objectives of the charity. In addition, funds may be held in order to finance capital investment
and working capital.
Restricted Funds
aims of the charity.
Income ￿CeIved for speclflc purposes. Such purposes are withln the overall
Property, Plant and Equlpment and Depreclatlon
Property, plant and equipment are initially recorded at cost.
Depreciation is provided at rates calculated to write off the cost less residual value of each a55et
over its expected useful life, as follows:
Freehold Land & Buildings
Leasehold Land & Buildings
Fixtures, Fittings and Equipment
2010 Straight Line
50/0 and 200/0 Reducing Balance
20010 Reducing Balance
Taxation
As a charity* the charitable company is not liable to Corporation Tax.
Trade and other recelvables
Trade and other recelvables are Inltlally recorded at fair value and thereafter stated at cost less
Impalrment losses for bad and doubtful debts.
Trade and other payables
Trade and other payables are initially recognised at fair value and thereafter stated at cost.
2.10
Critical accounting estimates and judgements
In the application of the Charity's accounting policies, the Trustees are required to make
judgements, estimates and assumptions about the carrying value of assets and liabilitie5 that are
not readily apparent from other sources. The estimates and associated a55umptions are based on
historical experience and other factors that are considered to be relevant. Actual results may differ
from these estimate5.
CavanaghKelW
15

FERMANAGH ENTERPRISE LIMrrED
(Charitable Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 MARCH 2023
The estimates and underfying assumptions are reviewed on an ongoing basis. Revisions to
accountlng estimates are recognised in the period in which the estimate Is revised were the revision
affects only that period, or in the period of the revision and futu￿ periods were the revision affects
both current and future periods.
Critical judgements in applying the entity's accounting policies
There are no critical judgements in applying the company's accounting policies.
Critical accounting estimates and assumptions
The￿ are no accounting estimates in applying the company's accounting policies.
2.11 Cash and cash equlvalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on
notice of not more than 24 hours. Cash equivalents are highly liquld Investments that mature in no more
than th￿e months from the date of acquisition and that are readily convertlble to known amounts of cash
with insignificant risk of change in value.
2.12 Golng Concern
The financial statements are prepared on a going concern basis. Taking account of the risk review
undertaken by the directors, they do not consider there to be a risk to the going concern status of the
charitable company.
2.13 Pen51on5
Payments to defined contribution retirement benefit schemes are charged as an expense a5 they fall due.
CavanaghKel
16

FERMANAGH ENTERPRISE LIMrrED
(Charltable Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 MARCH 2023
3. INCOME
Unrestricted
Funds
2023
Restrlcted
Funds
2023
Unrestricted
Funds
2022
Restricted
Funds
2022
Income from charitable activities:
Kick Start Programme
Klck Start 2 Programme
Go For It Programme
Co-Innovate Programme
Room Hire
Consultancy
Rental Income
Water and sewage charges
Parking charges
Electricity and gas charges
Solar electric (ROCS)
Management Services
Job Retention Scheme
37,152
600
16,400
39,496
139
7,814
600
519,165
4,621
4,097
38,437
18,430
5,000
39,571
567
8,845
1,750
481,761
4,434
3,437
28,161
17,046
5,000
654 199
641 055
Income from other tradlng actlvltles:
Office Services
Other Income
Craft Development Fund
414
289
107
53
185
419
53
396
185
Investment Income
Bank deposit interest
265
265
Total Income
658 432
53
641 716
185
CavanaghKelly"
17

FERMANAGH ENTERPRISE LIMITED
(Charltable Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 MARCH 2023
4. EXPENDITURE ON CHARITABLE ACTIvrrIES
Unrestricted Restricted Unrestrirted
Funds
Funds
Funds
2023
2023
2022
Restricted
Funds
2022
Go For It Programme costs
Kick Start Programme costs
Co-Innovate workshops and mentoring
Wages and Salaries
Penslon costs
Professional Subscriptions
Postage, stationery and advertising
Telephone
Motor and Travel
Rates and water charges
Insurance
Cleanlng
Llght, heat and power
Repairs and maintenance
General expenses
Depreciatlon - property
Depreciation fixtures, fittlngs &
equipment
Bank charges
Craft Development Fund contrlbutlons
Bad and/or doubtful debts
Legal and professlonal fees
Accountancy and audit
Total expenditure on charitable
activltles
918
12,220
1,285
267,241
13,894
2,928
7,361
4,040
2,543
3,723
20,016
18,342
101,322
52,731
4,830
76,162
2,457
32,550
513
219,616
12,359
2,393
7,527
4,141
815
3,535
16,758
14,219
78,546
61,782
543
78,131
1,250
5,650
5,970
5,520
20,324
438
25,184
552
(2,789)
142
1,529
2,080
619 147
567 862
CavanaghKelly"
18

FERMANAGH ENTERPRISE LIMITED
(Charitable Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 MARCH 2023
5. NET INCOME / EXPENDrruRE FOR THE YEAR
Net income / (expenditure) 15 stated after charging / (crediting):
2023
2022
Depreciation of property
Depreciation of fixtures, fittings and equipment
Auditors, remuneration
76,162
20,324
7,300
78,131
25,184
6,950
6. AUDITORS. REMUNERATION
The auditors. remuneration amounts to £7,300 (2022.. £6,950)
7. STAFF COSTS AND EMPLOYEE BENEFITS
The average number of persons employed by the company durlng the year was 10 (2022: 11).
The total staff costs and employees, benefits was as follows:
2023
2022
Wages and salaries (including social security)
Pension costs
267,241
219,616
281,135
231,975
No employee of the charitable company received total employee benefits of more than £60,000.
8. DIRECTORS EMOLUMENTS
The dlrectors recelved no remuneration during the year and no reimbursement of expenses.
CavanaghKelly"
19

FERMANAGH ENTERPRISE LIMITED
(Charltable Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 MARCH 2023
9. PROPERTY. PLANT AND EQUIPMENT
Freehold
land and
buildings
Short
leasehold
land and
buildings
Long
leasehold
land and
bulldings
Fixtures,
fittings and
equipment
Total
Cost
At l April 2022
Additions
Disposals
At 31 March 2023
1,377,980
27,975
6,516
2,704,755
362,940
885
4,452,191
28,860
1,405,955
6,516
2,704,755
363,825
4,481,051
Depreciation
At l April 2022
Charge for year
Disposals
At 31 March 2022
140,594
28,119
6,492
1,744,018
48,037
262,207
20,324
2,153,311
96,486
168,713
6,498
1,792,055
282,531
2,249,777
Net Book Values
At 31 March 2023
1,237.242
18
912,700
81,294
2,231,254
At 31 March 2022
1,237,386
24
960,737
100,733
2.298.880
10. Security
At 31 March 2023, there was one outstandlng charge held against the company, relating to the property
Abbey House, in Ennlskillen. The charge, dated l June 2018, is held by the vendor of Abbey House restricting
the company's ability for five years to sell the property, or lease it for a period of more than twenty-one
years. A second charge, dated 29 May 2018 was satisfied on 22 June 2022 was a flxed charge over the
company's deposit account, held by the company's bank.
11. RECEIVABLES
2023
2022
Trade debtors
Doubtful debts provision
Other debtors, prepayments & accrued income
34,035
(4,667)
37,790
44,338
(4,667)
27,363
CavanaghKelW
20

FERMANAGH ENTERPRISE LIMITED
(Charitable Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (contlnued)
FOR THE YEAR ENDED 31 MARCH 2023
12. PAYABLES: arnounts falllng due withln one year
2023
2022
Trade creditors
other taxes and social security
Other creditors, accrued expenses and deferred income
1,942
22,837
2,189
21,452
151,212
174 853
113 880
13. ANALYSIS OF NEf ASSETS
Designated
Funds
Unrestrlcted
Funds
Restricted Deslgnated
Funds
Funds
Unrestrlcted Restricted
Funds
Funds
2023
2023
2023
2022
2022
2022
Property, Plant
& Equipment
Current Assets
Current Liabilities
2,231,254
2,298,880
400,000
311,513
113 880
2 428 887
5,963
300,000
364,382
174 853
2 488 409
14,465
400 000
300 000
14. ANALYSIS OF FUNDS
Deslgnated
Funds
Unrestrlcted
Funds
Restrlcted Designated
Funds
Funds
Unrestricted Restrlrted
Funds
Funds
2023
2023
2023
2022
2022
2022
At l April 2022
Income
Expenditure
Fund transfers
At 31 March 2023
300,000
2,488,409
658,432
(619,147)
14,465
53
(7,362)
200,000
2,512,135
27,870
641,716
185
(567,862) (11,170)
loo 000
400 000
loo 000
300 000
2 428 887
2 488 409
CavanaghKel
21