ROE VALLEY ENTERPRISES LIMITED TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trusleos present thelr annual report and financlal slalemenls for the year ènded 31 March 2024. The financl81 Slalements have been prepared In g¢¢ordance wlih the accounllng pollcles set out in note 1 to the financial slalemenls and comply with the charily's gov8rning document, the Companies Act 2006 and 'Accounllng and R8POrting by Charltles- Statement of Recommended Practlce appllcabl8 lo cha¥ities prepartng their accounts In accordance wth the Financial R8POrtlng Standard applicabl8 In the UK end Republlc of Ireland IFRS 102)" leffeclive 1 January 2019). ObJè¢tlves and actlvltleg Publlc Benefit Reportlng Slalemenl of Compllance - 'In sottlng our oblectiVe¥ and plannlng our 8cllvltie8 for the year trustees have glven careful considerallon to the Charity Commlsslon for Northern Ireland's guldance on public ben8fil to ensure that the acllvilles have helped to achleve the Charlty'$ purposes and provide a benefit to the beneficlarles,. Roe Valley Enterprises, purpose Includes the promotion for the publ5¢ beneffil of urban and rural regeneration In the Llmavady and Dungiven areas 8nd Ihelr envlron$ {Ihe "area of benefll"), belng an area of soclal and economlc deprlvallon, by all or any of the followlng means.. li) the relief of pov8ty In such way$ 8$ may be thought fil,. (111 tha rellef of unemployment Sn such ways as may be thought fit. Includlng assl$tanc8 to llnd employm6nl', (ill) the adv8ncem&nl of educallon, Irainlng or relralnlng, partlcu18rly among unemployed people and provldlng unemployed people with work exp8rienc6', (Iv) the provislon of flnancial asBlslance, lechnlc81 asslslance or buBlno88 8dvlca or consultancy In order to provide trainlng and employment opportunltles for unemployed p8opl8 In ca595 of fln8nclal or other charltable need through help.. la) Sn selllng up thelr own bu8lnesB, or Ib) lo exlsllng buslnesses., (v) lo develop the capaclly and sk1118 01 the mgmber8 01 th8 80clally and economlcally dlGadvanlaged communities wlthln th8 area of benefll In such a way that they are better able to Identify, and hek meet, their needs and lo partlclpate more fully In 80claty. Publlc Benefit The public benefits that flow frorn the charitable purpo¥e of urban and rur81 regenerallon are'.- {a) the creallon of eJrploym8nl, Iralnlng and woik exporlonce opportunltles for resldents Ilvlng In economlc811y and Soclally deprlvèd areas and consequently a reducllon In poverty, hardshlp and unemployment, lea1ng 10 8 beller quallty ol Ilfe for the benefl¢larle8. (bl enhanced knowledge about selling up and runnlng small buslnesges. (c) Increased leve15 of knowledge and transfer8ble vocatSonal skills of those employeesthork experlence tralneeB that are taken on. These benefft9 are evldenced In a number of wayg, both In the colle¢tlon of prlm8ry data and the revlew of Independenuy produced slatlsUcs. The Irusle&s have pald due regard lo guldance l$sugd by the Charlty Commlsslon In decldlng what aclivilles the charity should undertake.
ROE VALLEY ENTERPRISES LIMITED TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achlavements and perfomianco A key fgature of the work ol Roe Valley Enterprises Ltd Is the promotion of an enlerprlse culture and aYRreness ralsing activllies lo highlight self-9mployment and entrepreneur5hlp as posillve and rewarding career choices. Roe Valley Enterprises, advlsers conllnue lo engage wllh key Influencers locally lo promote the opportunltie¥ afforded by enirepreneurshlp and provide guidanc& and support to those progressing bu8in&ss Ideas. espe¢5ally those who may be dlslanced from the labour market (Including the long-lerm unemployed, economlcally In8cllve and those faclng partleular barriers to work, Such as, older workers, female returngrs and prisoners). Through Ihelr enterprlse awareness programmBs RVE helps parttclpanls addre85 these barrler8 to employment and self. employment and encourage them lo return to the labour market. Northern Ireland INI) Explore Enterprls8 8upport Serrflce Northern Ireland (Nl) Exploro Enlerprlse Support SeNlc8 Is a new Inlllallve delivered by Enterprise Northern Ireland In partnershlp vAlh The Princes Trust Nl whlch provldes self-employment or employmonl support lo economlcally Inacllva Indlvlduals acr088 Northem Ireland. Thls Is a free servlce Ihat provld•8 an Inslght Into Btartlng a buslness or allows you to lake th? ffrst steps lo galnlng employment, Partlclpanls do not need lo have a buslness Idea lo Joln The Nl Explore Enleiprise Support SeIce offers menlorlng and trainlng at a pac? lallored lo the partlclpanls needs and they have th8 OPPOrtunlly to work towards achSevlng algvel 2 quallflcallon. Durlng the year our experlenced 8u8lne88 Mentors 8UPPOrted hventy partlclpanls through a range of 8¢tlvltle$ Includlng: One-lo-one lallored mentor5ng and guidance Workshops and Level 2 If8lnlng Support from the wlder ecoBygt8m TD be ellglble for thls sarvlc8 partlclpanls musl be., Aged 18 01 over Economlcally Inacllve (those not In employmgnl who have not been $eeklng work wllhln the last 4 weeks 8ndlor are unable lo start work wllhln th8 next 2 weeks) Thls prol8Ct Is lund8d by ¢he UK Govemment through Iha UK Shared Pmsperlly Fund. Northern Ireland Enterprlse Support Sgrvlce Go Suweed, Northern Ireland's Enlerprf88 Support Servlce,18 a new approach to helplng polenll81 entrepreneurs, $lart-ups and exisllng businesses lo maxlmise their polentlal and contrlbute to Northern Ireland's economy. Go Succeed provides buslnesses wlth tallorod, practlcal and e88ily accesslble advice. If you are thinking about Slartlng a busln8$s, you're 8 busSness looklng to grow, or m8ybe your buslness Is ready to scale up nallonally or Inlernatlonally, Go Succeed Can help your buslne88 by pulllng In place a more amblllous approach to help you, whalever stage your buslness1$ 81. The servlce launched In November 20231s funded through the UK Government. Go Succeed Is led by Northem Ireland's 11 local Counclls. Workspace On8 of the most Important strands of Roe Valley Enterprises, work Is lo provide sullable premlseB for entreprenèurs In th9 cruelal set-up phase and early years of thelr buslno89.11 is a crlllcal success factor for Roe Valley Enterprlses lo ensure that buslness st8rt-ups have equ81ity of acts55 to business premiseg at an affordable cost. particularly durlng start-up. cUentlY Rog Valley Enterprises provlde a base for 39 lenanl busln8$ses employing 1,149 staff. The unil9 8re offered on favourable terms to encourage and sllmulale entrepnoursh1p locally. The owners of the businesses that locate In the enterprise centre benefit from the favourable terms provided in respect of the eaBy in I easy out terms and comprehenslve facilie5 provided on site (CCTV, reception servlces. mail handling, secrel8ri81 support, cn-hand business advlce elc). Th15 benefll is outweighed by the public benefit that arisps - employment and training opportunities for people from the local socially disadvantaged areas and increased money clrculallng 8nd spent In the local economy whlch sustalns further buslnesses. These benefits are Gonsld8red Incidental 8nd a n&cessary consequence of carrying out the charitable purposes of Roe Valley Enterprises.
ROE VALLEY ENTERPRISES LIMITED TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accesslng Flnance Roe Valley Entèrprises Ltd Is an official and Pra¢live delivery partner of the Start-up Loans Company and the Nl Small Buslness Loan Fund. During the year RVE advlsers supported and asslsled clients to complete successful loan 8pplicallon$ and supported appllcanls with grant applicallons. Flnanelal revl8W Review of Roe Valley Enlerprlses Ltd financS8l position as at year end March 2024. The result8 for the yèar are cont81ned wlthln the Annu81 Reportlng and Flnancl81 Slalements Documènt. Th8 Charlty Income for year tolalled £284,711 (2023.. £237,352)., expendllure for year lolalled £222,174 (2023.. £242,987). To181 fixed assets amount to £2,258,199 (2023,. £2,195,942) wlth total net a$set8 amountlng to £2,036,347 (2023.. £1,993,810). The unrestricted funds are consldered lo be essentlal to provlde sufflclent funds lo cover 8ny unforeseen costs whlch may 8r18e and fulfill the 18gal obllgallon8 of the charlty in the event that current levels of Income are not malnlalned. The Charity's poll¢y is lo malnlaln a level of free reserves sufficlent lo cover such costs. Current asset$ of the charlty al 31 st March 2024 amount to £56,94312023.' £70,301). It Is th& alm of of the Trustees lo bulld Ihls rèserve to the valu& of 3 months expenditure a$ delalled wllhln the Reserveg Pollcy. The prlmary oblecllva of Roe Valley Enlerprls8s Ltd Reserves Pollcy Is to relaln 8 level of free reserves whlch matches the needs of the charitable company both at the current Ilme and In the forgseeable future. Th? company wlll conllnu? to monllor the reserveB policy. 11 upon windlng.up or dlssolutlon of the Company there r8m8lns, after the salisfacllon of all Ils debts and118bllltles any prgperty whatsoever, thg same shall not be pald lo or dlstribuled among the members of the Company, bul shall b8 9Sven or transferred lo some other charllable Instilullon or Inslllullons havlng objects slm118r to th& objects of the Company, and whlch shall prohibll the dlslrlbutlon of Its or Ihelr Income and property, such charil8ble In5Ulullon or Inslllutlons to bb dgtermlned by the members of the Company al or bgfore the Ilm8 of dls$olullon, and In so far as effected cannot be given lo such proviglon, then to 80me other chari18ble object. The reserve8, whlch relates 10 surplus of Income Ilncludlng capllal grants releaBed) over gxptsndllure. th9 company haB Inve$led and wlll conlSnue lo Invest In workshop space and unlls to further the oblectlvgs of Ihe company 10 511mulale self-employment by provldlng workspace. conference rooms elc. Rlsk Management The Board has condueted a revlew of the major rf8k8 to 1¢h the company Is oxposed and a Risk MarHgemenl Pollcy has been agreed to Identify. monitor and control those rlsks. External rlsks to fundlng are belng addressed through thg development and dellvery of the 9tr8legl¢ plan and these are kept under revlew on the ongolng bas18. Plang for future perlods Roe Vallèy Enterprlsos Ltd plans on continulng Its a¢llvllleg under the headlngs of enterprise awarenesg. buslnesg $lart-up, buslne88 dovelopment and buslness support In the forthcomlng years, subject lo sallsfaclory lunding arrangements.
ROE VALLEY ENTERPRISES LIMITED TRUSTEES. REPORT {INCLUDING DIRECTOR'S REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 stiucture, governance and management Roe Valley Enterprises Ltdls 8 company1Smlted by guafanlee and also Is a r8cognised Chally. For thg purposes of Charity Law, the Dlreclors are Trustees of th8 Charity. Thg Charity Is governed by an Ex8cullve Board whlch meet on 8 bl-monthly basi9. The Iru$lees, who are a150 the dlreclor8 for the purpose of wmp8ny law, and who 8erved durlng th8 year and up lo the d8le of slgnalure of the financlal s18temenl$ were.. Mr l Bennell Mr W M¢Laughlln Dr M Mccormack Mr I Smyih Mr B Mcmurray l ol the above Indlvlduals 8erved durlng the 202312024 flnanclal year, None of the trustees ha8 any ban9ficlal Inlere$i In the company. ATI of Ihe tru81e88 are membgrs ol tho company and guarante8 to contrlbule £1 Sn the evenl of a windlng up. The trustees, who are also dlreclors for the purposes of company law, ara re8ponslble fof preparlro the trustees, report and the financSal 51atemènls In accordance wlth 8ppllcable law and Unlted Klngdom Accoun15ng Standards Iunlted Klngdom Gen9rally A¢¢epled Accounllng Pracllce). The trustees, report was approved by the Board of Trustees. Dr M M¢Corm&ck Trusteg Mr Ilmylh. Truétge 18 Sgplember 2024