Co- Fermanagh enterprise Annual Report Year Ended 31 March 2023 Presented to Board of Directors 27 Aprll 2023 Fermanagh Enterprfse Ltd CONTENTS Introductlon Workspace Buttermarket Occupancy Enniskillen Business Centre Occupancy Killyhevlin Business Centre Occupancy Abbey House Business Centre Occupancy Provision of Incubation Workspace Tenant Churn Programmes Go For It Programme Kick Start Programme Consultancv ENI small Business Loan Propertv Abbey House Business Centre 5.1.1 Abbey House Business Centre Solar Panels Killyhevlln Buslness Cqntre Charitable Status Enterprlse Awareness Company Profile Partnership Worklng Audlt and Rl$k Sub-committee Quality Summary Report on Directors Appraisal of the Board Successlon Planning 10.0 Management Servlces to Derrylln Enterprlses Llmited 11.0 Reserves Policv 11.1 Introduction 11.2 Policy Statement 11.3 Definition of Reserves 11.4 Designated Funds 11.5 Extent of Reserves 11.6 Review Femianagh Enterptse Ltd INTRODucfioN This Annual Report covers the 12-month period ending 31 March 2023. This Report was adopted by the Board at a meeting of Direttors on 27 April 2023. This summary Report 15 laid out according to the distinct area5 Qf operation and programme delivery which has occurred during the year. WORKSPACE Buttermarket Occupancy Occupancy 99% 12022 96%) Table l - Summory of Current Occuponcy Details Table 1- 8urrERMARKET OCCUPANCY- MARCH 2023 Start Date New Unit Holder Ann McNulty Pottery Raku & Canvas Fresh Focus Kllladeas Day Care Mar orie Leonard Art Galler Elysian Rebecca's Coffee Shop Store Ken Ramsey Picture Framln Ennisklllen 81D Ltd Stitch-In-Tlme Material Things Design Ink Ewemomma The Natural Beauty Pot Jo Tinney Art Studlo Ken McBride Photo raph Angela Kelly Jewellery Frances Morri5 Art Studio & Galle Ewemomma Too Tranquillity 1-2-1 Holistic Thera Skin Town Tattoo Studio Marlus Blake Associates Rebecca's Coffee Shop Town House Country House io li 12 13 14 15 16 17 18 19 20 21 Coffee Shop Craft Shop January 2023 February 2023 ies Details of Unlt Holders who relocated and expanded during the perlod are.. Energles,. l exponded on51te - Ewemomma. 2 relocoted - Michael Brown ArtSst, Holistlc Enni5killen Business Centre Occupancy FÉmianagh Entèrprise Ltd Over the year, average occupancy was 99% 12022 97%) Table 2- 5t4mm(Jry of Current (kcupancy Detoi15 Toble 2- ENNISKILLEN BUSINESS CENTRE OCCUPANCY- MARCH 2023 VnltrNo, Unlt Holder Latimer Buildlng Services INI) Ltd Plant Machinery and Commercial Advertisin Erne Play Therapy ICBAN ew enan 41516 Theresa Monaghan Ps chothera Corrigan and Co Limited Fitness Matters Western Health and Sotial Care Trust Fermana h School of Muslc & Performing Arts Enterprise Caterln Polliwo s Paint Pots Tops Barber Shop happythreads.co.uk Hairdressing Salon McNutt Plumbing & Heating Lakeland Electrical Services INI) Ltd Fermanagh Floorln WHSCT Condition Mana Jets Cheerleadin Fermanagh GAA Fabric Fashion 5MC Services North West Mountain Rescue Team The Pilates Studlo Vibero tix Clara Jones Photo ra h¥ Fermana h Communi Trans l Repalrs IUK & Ireland) Ltd Lakeland Physiotherap¥ & S orts Medicine happythreads.co.uk Maritime and Coast Annan Interiors Ltd Pat Nolan Woodwork R H Financial Matters Powder and Pout Beauty Salon Discreet Beaut Solutions Flr5t Cholce Selertlon Servlce5 Ltd 55 Watters Property Sales 56 Niall Greene Counsellln 57 Vacant 58 Judy Buckley Reflexology 59 JH Counsellin8 61 Care Plus 60162163 Care Plus Details of Unit Holders who relocated and expanded during the period are:_ 6relocated- Integrity Underwrlting, BePrepped, Erne WaterTaxi, Erne Tutor Services, FOCUS. Brlan Coalter Transport Ltd,- 3 expanded on51te- Care Plus, happythreads.co.uk, Lakeland Physiotherapy & Sports Medicine. 819110111 12 13114-17147 18119 20 21 22 Lease 23 24 25 26127 28/29130 31 32 March 2023 February 2023 ement Pro romme Lease Jul 2022 33 34 35136 37 38 39 40 41142143144 45 46 48a 48b 49 50 51 52 53 54 October 2022 ort 2022 uard A encv Lease January 2023 April 2022 Ferrnanagh Enterprfse Ltd Klllyhevlln Business Centre Occupancy Over the year, average occupancy was 87% (2022 95%) Table 3 - Summary of Current Occupancy Detai15 Table 3 - KILL YHEVLIN BUSINESS CENTRE OCCUPANCY- MARCH 2023 Liberty HR Marks Mechanical Services Milly Vintage Donal CDrrl8an Constructlon Café JD Store Carly'5 Holistic Therapie5 Mind Yoga & Rehab Studio CaféJD Red Cr055 Ferrnanagh Neuromuscular Therapy & sports Injury Clinic Gralnne Moane Halr & Makeup Liberty Insurance Digital Marketing and Data Services Vacant October 2022 819 io li 12 13 February 2023 14 15 16 Vacant 18 19 20 Vacant Erne Counselllng Servlces Liberty Insurance AnaekD G.J Gartland Chartered Accountants Dlgital Marketlng and Data Services Roofscape Limited/Pimsmart Martln Insurance Ltd Bogue & Co Solicitor5 PFPWEALTH Fermanagh GAA EVRI Castle Foods Services Ltd Siemen5 Gamesa Renewable Energy Ltd Castle Food 5ervice5 Ltd Speedy Cabs Trevorf5 Courier Service Ltd February 2023 21 22 23 24 25 26 27 28 29 30&33 31 32 February 2023 34 Compound Details of Unit Holders who relocated, expanded onsite, downsized and ceased trading during the period are: _ 4 relocoted - Anits J Kirkpotrick Photography, Blush Beauty, EX-CEL Fltness Ltd, Dog Star Communlcations Ltd,. l expanded onslte- Castle Food Services Ltd,. I down5ized- Fermanagh Neuromuscular Therapyi I ceosed troding- Tony's Kitchen. Fgrmanagh Enterprise Ltd Abbey House Business Centre Occupancy Overthe year, average occupancy wa5 94% 12022 99%} Toble 4 - Surnmury Df Current Occup¢7ncy Details Table 4- ABBEY HOUSE BUSINESS CENTRE OCCUPANCY- MARCH 2023 (in this.v.earl. November 2022 October 2022 VRAI Limited Merrion Data Consu Itants Limited Think6 Ma rketing Solutions Donna Megraw Coun5elling Abbey Vat & Customs Services Reflexology with June Think6 Marketing Solutions Turning Point Properties AVRIO Environmental Management Lakeland Therapy Paul McGowan Mortgage & Insurance Solutions Digital Hub A.. Financial Regulator B.. Amazon online C.. Blue Noise Design D: FarmLab Diagnostics Forsyth of Denny Dee Hamill Nutrition Nu Span Flooring Ltd Leighan Consultancy Ltd DCX-FER Patrice's Podiatry Practice EMS Brokers MacDigital Bl M Recruiter Erne Facades Ltd MYI Ltd 1129 March 2023 March 2023 9110111 12 13126128 14 15 16 17 18 19 20 21 22 23124 25 27 August 2022 October 2022 July 2022 vacant GRB Solicitors CASS LTD Erne E-commerce November 2022 January 2023 Details of Unit Holder5 who relocated, expanded, downsized and ceased trading during the period are.. 6 relocated- Fyltrd. ABS Accountants Ltd, Footwear Solution5 Nl Ltd, Ryvon Consulting, Gray5 Clip Ltd, Fermanagh Media Services,. l exponded- Forsyth of Denny,. 2 down5ized- Dee Hamill Nutrition. AVRIO Environmental Management,. I ceosed tmding- Notting Hill. Femianagh Enlerprw Ltd Provision of Incubation Workspace The Agency seeks to rnaintain a b3lantÉ between the Provision of Incubation Workspace for New Businesses and the Fiduciary responsibilities of the Board to ensure a sustainable and vlable busines5 which has the on-going apacity and capability to provide a continuum of support for its clients and the public in general. As such, the following Performance I ndicator is measured annuallv. Tenant Churn This Performance Indicator records the number of New Tenants as a percentage of the Total Tenant5 for the year. Tenant Churn- 22% {2022 10%) PROGRAMMES Go For It Programme Fermanagh Enterprise Ltd, Omagh Enterprise Company Ltd and Enterprlse Northern Ireland work together to deliverthe Go For It Programme In the Fermanagh and Omagh Dlstrlct Councll reglon wlth Fermanagh Enterprlse Ltd belng the dellvery agent in Fermanagh. We are pleased to report that the Target of 153 8usiness Plans In Fermanagh was achleved. Kl¢k Start 2 Programme This was a Fermanagh and Omagh District Council Programme of support for businesses not eligible for Invest Northern Ireland assistance. Fermanagh Enterprise Ltd teamed up wlth Omagh Enterprlse Co Ltd and Full Circle to deliver the Programme in Fermanagh. The Programme finished in December 2022. Programme outputs included:_ Fem)anagh Entèrpris8 Ltd Sales Academy - Full Circle 4 Workshops:_ Introduction to using Shopify to export business {online 12.04.2022} Social Media Marketing- Instagram and Facebook for your business {onllne 17.05.20221 Employment considerations for small businesses {online 13.09.2022) Social Media Marketing- Tik Tok ads (Ardhowen Theatre 16.11.20221 There were 15 businesses supported on the Programme in Fermanagh. CONSULTANCY ENI Small Buslness Loan During the year, 3 clients have been successful In gainlng Loan Support through the ENI Small Buslness Loan. These clients are eligible for 15 hours Mentoring durlng their first year for which a total fee of £300 is payable In two instalments- £200 when the loan is approved and £100 when all Mentoring is completed. Businesses assisted were: Painting/Decorating Business Chlldmlnder £5,000 £20,000 Shoe shop TOTAL £39,000 PROPERTY Abbey House Buslness Centre 5.1.1 Abbey House Buslness Centre Solar Panels As part of the Organisations Environmental Sustainability Strategy, a 24 kwp Solar PV installation was installed in October 2022 at Abbey House Business Centre. Fèmanagh Entèrprisè Ltd Klllyhevlln Business Centre In March 2012, the Board of Directors of Fermanagh Enterprise Ltd Identified an opportunity to further extend the servlces the Organi5atlon Is supporting and encouraging Economlc Development in the area. A redundant, derelict site, previously occupied by Nl Water in the Killyhevlin Industrial Estate was acquired in October 2013 and subsequently regenerated to provide 28 offices and 5 Industrial unit5 on the 3-acre site. Today the Killyhevlin Business Centre is a thriving hub of business activity and home to 26 businesses providing jobs for approxlmately 72 people. CHARrrABLE STATUS As documented In our Business Plan and In keeplng wlth our status as a Charitable Organisation, the expertlse and experience of the staff have been provided free of charge to a range of individua15, community groups, schools and stakeholder or8anisations. This has been recorded and can be broken down as shown in toble5. Table 5- STAFFHOURS FOR FREE PUBLIC BENEFITSINCE I APRIL 2022 Aprll 2022- Mor¢h 2023 54 Hour5 Buslness Advlce and Support 146.45 Hours Local Development 81 Hours Schoo15 and Colleges 17.5 Hours Equlpment and Room Usage 298.95 Hours TOTAL Fennanagh Enterptse Ltd ENTERPRISE AWARENESS Company Proflle Maintaining adequate profile throughout the County and beyond to ensure maxlmum awareness among clients and others wa5 a key corporate strategic objective during the year. Contributions to the local press may be summarised a5 follow5: There were 2 press releases and 2 photograph5. The Organisation was also associated and mentioned in at least 120 local press items during the year. A social networking presence was maintained with activity on Facebook- 332,. Twitter- 78; and Website 8108s- 104. bl Partnershlp Worklng The Agency maintained a Strategic Involvement with all relevant local enterprise and economlc development bodies. Staff were proactively involved in a range of operational projectslprogrammes and served on a range of committees and worked in partnership with a range of organisatlons which included: _ Enterprise Northern Ireland Fermana8h and Ornagh District Councll Rural Development Programme Schools Bank5 Invest Northern I reland InterTradelreland Princes Trust Fermanagh and Omagh Community Planning ICBAN South-west College Workhouse Project Northern Ireland Enterprise Agencies Enterprise West Cross Border Enterprise Board5 10 Fermanagh Enterprisè Ltd AUDIT AND RISK SUB-COMMITfEE The Audit and Rlsk Sub-commlttee met In November 2022. The Committee Set out the risk profile and agreed Risk Categori5ation and appetlte for risk. It wa5 noted that the Sub-committee operated on the basis of prudence and wa5 careful to err on the side of caution. The Sub-committee considered the key rlsks, categori5ing risks as Operational, Strategic and Financial. Four are35 of high-risk were identified. The widespread uncertainty in the global economy was reflected in the designation of Financial sustainabllity as a 'red' risk area. The Members agreed that there was a risk of either not achieving projected income or experiencing higher that projected expenditure. Additionally, the Sub- Committee felt that cash flow is another area of high-risk as latelnon-payments by debtor5 could be a feature goin8 forward. The Sub-committee agreed a serles of controls and monthly reporting to the Board to ensure these areas of rlsk recelved the optimum attention and control. Other areas of risk were deemed either medium, low or insignlficant, QUALITY The QMS International Qu311ty Audit tbok place on 12 October 2022. The Audlt confirmed that the Company Management Systems attained the Quality level necessary to galn accreditatlon to meet the International Mana8ement Standard ISO 9001.2015. Summary Report on Dlrector5 Appraisal of the Board On 25 April 2022, in keeping wlth best Governance practice, the Directors completed an Appraisal of the Board5 operation. A resulting report was tabled at a full meeting of the Board on 25 November 2022. Succession Plannin8 During the year, the Board developed and agreed a Succession Plan designed to mitigate against the risk of emergency succession arising in the staff team. 10.0 MANAGEMENT SERVICES TO DERRYLIN ENTERPRISES LIMITED The agency continues to provide management 5UPPQrt to Derrylin Enterprises Limited where occupancy remains at lOO% Fefflianagh Enterptsa Ltd 11.0 RESERVES POLICY April 2023 11.1 Introduction Community Change, NICVA and the Volunteer Development Agency have been part of a steering group on best practice in finance and 8overnance along with the Department of Health, Social Services and Public Safety, the Department for Finance and Personnel and the Department for Social Development. The steering group have been working on developing guidance on organisational reserves in voluntary and community organisation5. The purpose of the guidance is to provide voluntary and community organisations with best practice advice in respect of reserves. The guidance highlights the importance of having an agreed Reserves Policy which justifies holding appropriate levels of financial reserves to protect against future uncertainties a nd allow organisations to take advantage of change and opportunlty. The Board of Directors of Ferrnanagh Enterprlse Ltd IFELI have applied this 8uidance and best practlce in developlng this Reserves Policy, 11.2 Pollcy Statement The Board of Directors of FEL are aware of the need to secure the vlability of the Organisatlon beyond the immediate future. In order to malntain and develop support to the Organlsation's Small Busines5 Start-up and Growth clients in a strategic wav, the Board recognise the need to maintain 5UStainability both of the skills and experlence accrued by the staff and also the extenslve workspace built to provide an important buslness locatlon for the Organisatlon's tenant businesses. The Board also recogni5e the rlsks associated with the short-term nature of much of the support Programmes currently being delivered by the staff, all of whlch are subject to tender on the open market as well as being influenced by the budget restrictions and limitations of bodies which are well outside the control or influence of the Directors themselves. In order to be able to provide reliable services over the longer term, FEL must be able to absorb setbacks and to take advantage of change and opportunity. It is considered good prattice for the Organi5ation to seek to build and maintain sorne financial reserves which will allow the Board to meet future commitments or unforeseen expenses without a nÈg3tive impact on their ability to deliver thelr seniices or develop their businesses in the manner planned. 12 Fermanagh Enlerprise Ltd The Board has agreed to seek to build some financial reserves which will allow them to.. Absorb some of the impact of falling revenues caused by the pandemic and other global economic stresses meet future commitments or unforeseen expenses without a negative impact on their ability to deliver their services take advantage of any future business opportunitie5 which may present themselve5 be in a position to respond to any developing market demand forservices over and above that provided from the current portfolio of the Organisation. 11.3 Definitlon of Reserves For the purposes of thi5 Policy the term 'Re5erves" is applied to that part of the Organi5ation's income that 15 freely available for it5 general purp05e5. Reserve5 are the resources the Organi5ation ha5 or can make available to spend for any or all of its purposes, once it has met its commitments and covered its other planned expendlture. Thls deflnitlon excludes unspent money from restricted grants or funds where this is relevant, 11.4 Desl8nated Fund5 A figure of 90-110% of depreciation will be set aside annually in the Company Accounts a5 'De5ignated Fund5'. The actual figure to be agreed at the Annual General Meetlng of the Dlrettors each year. The De5i8nated Funds will provlde for future and on-golng expendlture on capltal Items such as major repalrs, purchase andlor refurblshment. 11.5 Extent of Reserves Reserves are needed to secure the viability of the Organisation, meet unforeseen contingencies and develop and grow the services of the Company and dependant on a range of external f3Ctors including market demand for property and micro and macro trends in the economy which are outside the control of the Board. The extent of the ReseNes required are likely to be in the region of £600k to £2m. The Board plan to build Reserves year on year from trading surpluses if available. 11.6 Review This Reserves Policy will be reviewed Annually. 13 Fermanagh z enterprise Summary Operational Plan for Year Ending 31 March 2024 CONTENTS Introduction Background Misslon Statement Values Aims Objectives Charities Commission Statement Key Performance Targets for the Year Workspace Public Benefit Public Profile Support Programmes Stakeholder Llnks Governance and Sustainability 3.0 Staff Organlsatlonal Chart INTRODucfioN Background Fermanagh Enterprise Limited was Set up in 1985 as one of the first Local Enterprise Agencies in Northern Ireland. The Organisation represents the vision of a dedicated group of local professional and business people who sought realistic solutions to the problems of unemployment, through promotlng the establishment and development of small businesses, The Organlsation Is based In the Ennlsklllen Buslness Centre, 21 Lackaghboy Road, Ennlskillen and also works in close co-operation with a network of other Enterprlse Centres and a range of Partnership Bodies at a Local, Regional and Cross Border level, The Agency is a member of Enterprise Northern Ireland, an association of Enterprise Agencles whlch ex15ts to make Northern Ireland more enterpr151ng and Innovative. Fermana8h Enterprise Llmited 15 a company registered in Northern Ireland with Company Number Nl 18464 and 15 reglstered as a Charity with the Charity Commlssion for Northern Ireland Number NIC101571. Mission Statement To strengthen the economy of Fermanagh through encoumglng• asslstlng and odvlslng indlvlduols wishing to move to self-employment and set up and gmw their own buslness. Values Quallty, Excellence and Professionalism Respectfulness, Responsiveness Encourage collaboratlon Transparency and accountablllty Good governance People First- Customers, Staff and local community. Alms To relieve poverty through stimulating economic prosperity To relieve unemployment through the promotion of enterprise and micro business start-up, growth and development. Objectives To provide flexible industrial and office workspace suited to start-up and growing small businesses. To provide free business advice, mentoring and support to members of the public In Fermanagh wishing to explore self-employment and/or set up a small business. To maintain a public profile to ensure potential clients are aware of our servlces. To deliver programmes of Support to the target market in Fermanagh. To develop Ilnk5 and working relationships with other stakeholders at a local, regional and wider level. To operate Fermanagh Enterprise Limited to the highest level of Integrlty and Accountability. To operate a well-run, financlally vlable Organisatlon whlch generates sufflclent profit to fund other objectlves. To Incorporate envlronmental sustainabllity into the decision making processes of the Company. Charltles Commlsslon Statement The objects of the Company shall bethe promotion forthe public beneflt of urban and rural regeneration In County Fermanagh and the surrounding areas (the 'area of benefit I, being an area of social and economic deprivation, by all or any of the following means: li) the relief of poverty in such way5 as may be thou8ht flt,. (ill the relief of unemployment in such ways as may be thought fit, including assistance to find employment,. liiil the advancement of education, training or retrainlng, particularly among unemployed people and providing unemployed people with work experience,. livl the provision of flnanclal asslstance, technlcal asslstance or business advice or consultancy in order to provide training and employment opportunities for unemployed people in cases of financlal or other charltable need through help: lil in Setting up their own business, or li1} to existing businesses,, liiil the creation of training and employment opportunities by the provision of workspace, buildlngs and/or land for use on favourable terms. KEY PERFORMANCE TARGETS FOR THE YEAR Workspace To pravldellexible industriol ond office workspace suited to start-up and growing smull businesses Actions Maintain over 42.000 sq ft of lettable space in Enniskillen Business Centre @ 90% occupancy Maintain over 10,000 sq ft of lettable space in The Buttermarket, subject to lease negotiations and decisions by FODC @ 90% occupancy Maintain over 17,400 sq ft of lettable space in Killyhevlin Business Centre @ 90% occupancy Maintain over 5,700 sq ft of lettable space in Abbey House Business Centre @ 90% occupancv Ensure units are accessible by offering easy term licence agreements Ensure units are affordable by comparison with market rates Recognise incubation role- Measure tenant turnover Provlde superfast Broadband to all workspace units vla a leased line and 'a fibre to the desk, connection. Install electric charging points at Enniskillen Business Centre and Killyhevlin Business Centre sites. Publlc Benefft To provideAree bu5ines5 advice, mentoring and support to member5 of the publlc In Fermanagh wishinq to explore self-employment and/or Set up or grow a small buslne5S Artlons Maintain within re50urce5, an 'open door, policy to the general public who are free to ask for business advice and guidance Staff will contribute time where posslble in Public Service to promote Enterprise and Business Development in the County. Publlc Profile To maintain a public profile to ensure potential clients are aware of our servlces Act1(￿5 Malntaln Website and Social Networking presence Maintain database of client5 Regular e-mails to client base Newspaper presence to include press releases and photo5. Support Programmes To deliver pmgmmmes of Support to the target market In Fermonagh Actions Deliver the Northern Ireland Go For It Programme Deliver the Councils Women Into Enterprise Programme Achieve output targets a5 detailed in Letters of Offer in Delivery of Support Programmes. Stakeholder Links To develop links and workinq relationships with other stakeholders at a local• regional and wlder level Action5 Staff to work on initiatives by other bodies and Drganisations such as FODC, Omagh Enterprise Company, ENI. Invest Nl. Enterprising West, Schools, SW College, DEARA and others as the opportunity arises Maintain Managing Agent role for Derrylin Enterprise5 Limited. Governance and Sustalnability To open7te Fern?anagh Enterprlse Llmlted to the highest level of Integrity andAccountablllty To operate a well-run sustoinoble Orgqn15qtlon which qenemtes sufficientpmAlts tofvnd other objertives Artions Maintain a representative Board with appropriate expertise and experience Full Management Accounts monthly to Board Directors Appraise Board Operations All Board papers including Agenda, Mlnutes of Previous Meeting and Management Report to be circulated to Directors at least 4 days before a meeting Operational Plan and Budget to be agreed by Board at the beginning of the financial year. Annual Report including variance analysis at year end Annual Report publicly avallable on Company website Operate all Systems and Procedures to the ISO 9001.2015 Standard Generate sufficient profit5 to cover all cost5 Full Audited Annual Accounts to be presented to Board at AGM in October Provide Tra ining in Governance Best Practice for Directors. STAFF ORGANISATIONAL CHART The organisational chart provides an illustration of the staffing and management profile of the Organisation. Fermanagh Enterprise Limited Board of Dirertors Auditors John Treacy Mt7nuger Rodney Malone Siobhan Colton Anne Monaghan Administration Monoqer Projert OJTirers Dympna Maguire Kelly Davis Arlene 8rock Joanne Lowry Admini5trotion/AccountS Administrators Brendan Duffy Gerry McGoldrlck Coretokers