Draft Financial Statements at 12 June 2025 at 16:35:28
ARDS BUSINESS CENTRE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
Unrestricted Restricted
funds
funds
2025
2025
Total Unrestricted Restricted
funds
funds
2024
2024
Total
2025
2024
Notes
Income and endowments from:
Grants Receivable
Charilable activities
Other trading activities
Interest Receivable
Other Grants
Receivable
59,879
5,200
59,879
764,073
3,551
1,422
21,803
1,457
21,803
714,162
2,875
758,873
3,551
1,422
712,705
2,875
800
800
Total income
763,846
65,879
829,725
715,580
23,260
738,840
Expenditure on:
Charilable activilies
758,764
161,514
920,278
587,012
166,177
753,189
Total expenditure
758,764
161,514
920,278
587,012
166,177
753,189
Net incomel{expenditure)
5,082
{95,635)
{90,553)
128,568
(142,917)
{14,349)
Transfers be￿een
funds
6,670
16,670)
Net rnovement in
funds
5,082
(95,635)
{90,553)
135,238
(149,587)
{14,349)
Reconciliation of funds:
Fund balances at 1 April 2024
1.165,158
229,264 1.394,422
1.029,920
378,851
1,408,771
Fund balances at 31 March
2025
1.170,240
133,629 1.303,869
1,165,158
229,264 1.394,422
The ststement of financial activities includes all gains and losses recognised in the year. All income and expenditure
derive from continuing activities.

Draft Financial Statements at 12 June 2025 at 16:35:28
ARDS BUSINESS CENTRE LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
2025
2024
Notes
Fixed assets
Tangible assets
13
1.648,322
1.796,276
Current assets
Stocks
Debtors
Cash at bank and in hand
14
15
1,051
38.109
115,696
1,054
15.603
108,060
154,856
124,717
Creditors: amounts falling due within
one year
17
(263.965)
1206,5841
Net current liabilities
(109,109)
{81,867)
Total assets less current liabilities
1,539,213
1,714,409
Creditors: amounts falling due after
more than one year
18
(235,344)
{319,987)
Net assets excluding pension liability
1,303,869
1,394,422
Net assets
1.303,869
1,394,422
The funds of the charity
Restricted income funds
Unrestricted funds
133,629
1,170,240
229,264
1,165,158
1.303,869
1,394,422

Draft Financial Statements at 12 June 2025 at 16:35:28
ARDS BUSINESS CENTRE LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
The directors acknowledge their responsibilities for cornptying wtth the requirements of the Companies Act 2006
with respect lo accounting records and the preparation of financial statements.
These financial statements have been prepared in accordan￿ V￿th the provisions applicable to companies subject
to the small companies regime.
The financial statements were approved by the trustees on
L M Mcclelland
Chair
D J Blevings
Wice Chair
Company registration number N1021680 (Northem Ireland)
10-

Draft Financial Statements at 12 June 2025 at 16:35:28
ARDS BUSINESS CENTRE LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Notes
Cash flows from operating activities
Cash generaled from operations
24
137,715
171,800
Investing activities
Purchase of langible fixed assets
Proceeds from disposal of tangible fixed
assets
Investment income received
(47,8111
(86.6011
953
1.422
1.439
Net cash used in investing activities
(45,436)
{85,162)
Financing activities
Repayment of bank loans
(84,643)
(159,2951
Net cash used in financing activities
{84,643)
{159,295)
Net increaselldecrease) in cash and ¢ash
equivalents
7,636
{72,657)
Cash and cash equivalents at beginning of year
108,060
180,717
Cash and cash equivalents at end of year
115,696
108,060
11

Draft Financial Statements at 12 June 2025 at 16:35:28
ARDS BUSINESS CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
Charity infonnation
Ards Business Centre Limited is a private company limited by guarantee incorporaled in Northern Ireland. The
registered office is Ards Business Hub, Sketrick House, Jubilee Road, Newiownards, BT23 4YH.
1.1 Accounting convention
The financial slatemenls have been prepa￿d in accordance with the charity's goveming document, the
Companies Act 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland" and Ihe Charilies SORP "Accounting and Reporting by Charities.. Statement of Recommended
Practice applicable to charities preparing their accounts in accordan￿ wrth the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 102)" The charity is a Public Benefit Entity as defined by
FRS 102.
The financial statements are prepared in sterling, which is Ihe funclional currency of Ihe charity. Monetary
amounts in these financial statements are rounded lo the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting
policies adopted are set out below.
1.2 Going concern
At the time of approving the finan￿al statements, the trustees have a reasonable expectalion Ihal the charity
has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees
continue lo adopt the going concern basis of accounting in preparing the financial slatements.
1.3 Charitable funds
Unreslricled funds are available for use at the discretion of the trustees in furtherance of their charitable
objectives.
Restricted funds are subject to specffic conditions by donors or grantors as to how they may be used. The
purposes and uses of the restricted funds a￿ sel out in the noles lo the financial stalemenls.
Endowment fijnds are subject to spectfic conditions by donors that the capital must be maintained by the
charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any perfomance condilions have been mel,
the amounts can be measured reliably. and tt is probable that income will be re￿ived.
Cash donations are recognised on receipt. other donations are recognised once the charity has been notified
of the donation, unless perfomiance conditions requi￿ deferral of the amounl. Income tax recoverable in
relation to donations received under Gift or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribulion,
the amount is known, and receipt is expected. If the amount is not known. the legacy is treated as a
contingent assel.
12-

Draft Financial Statements at 12 June 2025 at 16:35:28
ARDS BUSINESS CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or conslruclive obligation lo transfer economic benefil lo a
third paty, it is probable that a transfer of economic benefits will be required in settlement, and the amount of
the obligation can be measured reliably.
Expenditure is classified by activity- The costs of each activty are made up of the total of direct costs and
shared cosls, including support cosls involved in undertaking each activity. Direct cosls attribulable to a single
activity are allocated directty to that activity. Shared costs which contribute to more than one activty and
support costs which are not attribulable to a single activty are apportioned belween those activities on a basis
consistenl with the use of resources. Cenlral slaff costs are allocated on the basis of time spent, and
depreciation charges are allocated on the porbon of the asset's use.
1.6 Tangible fixed assets
Tangible fixed assets are iniiialty measured at cost and subsequenty measured at cost or valuation, net of
depreualion and any impaimient losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their
useful lives on the following bases..
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
4% straight line
20°/0 Straight line
200/0 Straight line
20% straight line
The gain or loss arising on the disposal of an asset is delemined as the difference between the sale proceeds
and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impaimient of fixed assets
At each reporting end date, the charity revIeV￿ the carying amounts of its tangible assets to detemiine
whether there is any indication Ihal those assets have suffered an impaimenl loss. If any such indication
exists, the recoverable amount of the asset is estimated in order to detemiine the extent of the impairment
loss (rf any).
1.8 Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost
comprises direct malerials and. where applicable. direct labour costs and those overheads Ihal have been
incurred in bringing the stocks to their present location and condition. Items held for distribution at no or
nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estirnated costs of completion and costs to be
incurred in marketing, selling and distribution.
1.9 Cash and cash equivalents
Cash and cash equivalents indude cash in hand, deposits held at call with banks. other shorl-temi liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in currenl liabilities.
13-

Draft Financial Statements at 12 June 2025 at 16:35:28
ARDS BUSINESS CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
(Continued)
1.10 Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Inslrumenls. and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of tls financial instruments.
Financial instruments are recognised in the charity's balan￿ sheet when the charity becomes party io the
contractual provisions of the instrument.
Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when
there is a legally enforceable right to set off the re￿gnised amounts and there is an inlention to settle on a net
basis or lo realise the assel and settle the liability simullaneously.
Basic financial assets
Basic financial assets, which indude debtors and cash and bank balances, are initially measured at
transaction price including Iransaction costs and are subsequentty carried al amortised cost using the effective
interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured at the present value of the fijture receipts discounted at a market rate of interest. Financial assets
classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, induding creditors and bank loans are Initial￿ recognised at transaction price unless
the arrangement constitutes a financing transaction, where the debt instrument is measured al the present
value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequentty carried at amortised cost. using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are dassified as current liabilities if payment is due within one
year or less. If not. Ihey are presented as non-Cu￿nt liabilities. Trade credttors are recognised initially al
transaction price and subsequentty measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or
cancelled.
1.11 Employee benefits
The cost of any unused holiday entrfement is recognised in the period in which the employee's ServI￿S are
received.
Temiinalion benefits are recognised immedialely as an expense when the charity is demonstrably committed
to terminate the employment of an employee or to provide temiination benefits.
Critical accounting estimates and judgements
In the application of the charity's accounting poliues. the trustees are required to make judgements. estimates
and assumptions about the carying amount of assets and liabiltties that are nol readily apparent from other
sources. The estimates and assoualed assumptions are based on historical experience and other tsctors that
are considered to be relevant. Actual result5 may differ from these estimates.
The estimates and undertying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and fvture periods where the revision affects both current and future
periods.
14-

Draft Financial Statements at 12 June 2025 at 16:35:28
ARDS BUSINESS CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Income from grants receivable
Restricted
funds
2025
Restricted
funds
2024
Grants
59,879
21,803
Grants
Enterprise Nl EEPIStart Up Loan
Business Start up support programmes
10,562
49,317
4,438
17,365
59,879
21,803
Charitable aclivities
Charitable Charitable
Income
Income
2025
2024
Licence Fee Income
Service Charges
Seminar Room Hire
Administration Services
Other Activities
Accomodation Address Services
497,069
210,600
40,803
4,102
5,200
6,299
485,026
198,204
21,743
1,032
1,457
6,700
764,073
714,162
Analysis by fund
Unrestricted funds
Restricted funds
758,873
5,200
712,705
1,457
764,073
714,162
15-

Draft Financial Statements at 12 June 2025 at 16:35:28
ARDS BUSINESS CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Other trading activities
Unrestricted Unrestricted
funds
funds
2025
2024
The Handcrafted Gallery
Other Income
18
2.857
3,551
3,551
2,875
Income from investments
Unrestricted Unrestricted
funds
funds
2025
2024
Interest receivable
1,422
Other Grants Receivable
Restricted
funds
2025
Restricted
funds
2024
LMP Grant
800
16-

Draft Financial Statements at 12 June 2025 at 16:35:28
ARDS BUSINESS CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Expenditure on charitable activities
Restricted Unrestricted
2025
2025
Total
2025
Restricted Unrestricted
2024
2024
Totsl
2024
Direct costs
Depreciation and
impairmenl
Provision of Workspace
Accomodalion
Support Costs
1.723
193,089
194,812
110,869
73,913
184,782
645,749
79,717
645,749
79,717
510,562
57,845
510,562
57,845
1,723
918,555
920,278
110,869
642,320
753,189
Analysis by fund
Unrestricted funds
Restricted funds
758,764
159,791
758,764
161,514
587,012
55,308
587,012
166,177
1,723
110,869
1.723
918,555
920,278
110,869
642,320
753,189
Net movement in funds
2025
2024
The net movement in funds is ststed after chargingl{crediting)=
Fees payable for the audit of the charity's financial statements
Deprecialion of owned langible fixed assets
194.812
184,782
10 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the
charity during the year.
11
Employees
The average monthly number of employees during the yearwas..
2025
Number
2024
Number
11
The number of employees whose annual remuneration was more than £60,000
is as follows=
2025
Number
2024
Number
17-

Draft Financial Statements at 12 June 2025 at 16:35:28
ARDS BUSINESS CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
12 Taxation
The charity is exempt from tsxation on ils aclivities because all its income is applied for charitable purposes.
13 Tangible fixed assets
F￿ehOld land
and buildings
Plant and Fixtures and
equipmenl
frttings
Compute
Totsl
Cost
At 1 April 2024
Additions
Disposals
5,823,372
146,C65
35,302
(2,937)
103,868
9,073
(4,034)
20,243 6,093,548
3,436
47,811
16,971)
At 31 March 2025
5,823,372
178,430
108,907
23,679 6,134,388
Depreciation and irnpainnent
At 1 April 2024
Deprecialion charged in the year
Eliminated in respect of disposals
4,149,514
159,063
58,688
23,441
(2,937)
73,369
9,813
{3,081)
15,701
2,495
4,297,272
194,812
16,018)
At 31 March 2025
4,308,577
79,192
80,101
18,196 4,486,066
Carrying amount
At 31 March 2025
1,514,795
99,238
28,806
5,483
1,648,322
At 31 March 2024
1,673,858
87,377
30,499
4,542
1,796,276
14 Stocks
2025
2024
Finished goods and goods for resale
1.051
1,054
15 Debtors
2025
2024
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
33.023
5,086
7,982
7,621
38,109
15,603
18-

Draft Financial Statements at 12 June 2025 at 16:35:28
ARDS BUSINESS CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
16 Loans and overdrafts
2025
2024
Bank loans
334,404
419,047
Payable within one year
Payable after one year
99,060
235,344
99,060
319,987
First Trust Bank holds an all monies mortgagelcharge deed for Ards Business Centre, Jubilee road,
Newtownards, Co Down, and an all monies Debenture on Folio no. DN 43409 Co Down on the freehold land
shown on the registry map relaling to the land to the south of Jubilee road, Newtownards, and containing one
decimal nought three nine (1.039) heclares. There is also a registered charge with the International Fund for
Ireland but this has been satisfied.
17 Creditors: amounts falling due within one year
2025
2024
Notes
Bank loans
Other tsxation and social security
Trade creditors
(Xher creditors
Accruals and deferred income
16
99.060
20,776
79.137
48,628
16.364
99,060
20,216
27,758
37,473
22,077
263.965
206,584
18 Creditors: amounts falling due after more than one year
2025
2024
Notes
Bank loans
16
235.344
319,987
19 Retirement benefit schemes
Defined contribution schemes
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the
scheme are held separately from those of the charity in an independentty administered fund.
The charge to profit or loss in respect of defined contribution schemes was £10.15712024= £8,124).
19-

Draft Financial Statements at 12 June 2025 at 16:35:28
ARDS BUSINESS CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
20 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust
subject to specrfic conditions by donors as to how they may be used.
At 1 April
2024
Incoming
resources
Resources
expended
Transfers At 31 March
2025
I reslricted funds
229,264
65,879
(161,514)
133,629
Previous year:
At 1 April
2023
Incoming
resources
Resources
expended
Transfers At 31 March
2024
I restricted funds
378,851
23.260
(166,177)
(6.6701
229,264
21 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balan￿S of donations and grants which are
not subject to specific conditions by donors and grantors as to how they may be used. These include
designated funds which have been set aside out of unrestricled funds by the Iruslees for specific purposes.
Al 1 April
2024
Incoming
resources
Resources
expended
Transfers At 31 March
2025
General funds
1,165,158
763,846
(758,764)
1,170,240
Previous year-
At 1 April
2023
Incoming
resources
Resources
expended
Transfers At 31 March
2024
AJI unrestricted funds
1.029,920
715.580
(587,012)
6.670
1.165,158
22 Analysis of net assets between funds
Unrestricted
funds
2025
Restricted
funds
2025
Total
2025
At 31 March 2025:
Tangible assets
Current assetsllliabilities)
Long temi liabilities
1,514,693
(109,109)
(235,344)
133,629
1,648,322
(109,109)
{235,344)
1,170,240
133,629
1,303,869
-20-

Draft Financial Statements at 12 June 2025 at 16:35:28
ARDS BUSINESS CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
22 Analysis of net assets between funds
(Continued)
Unrestricted
funds
2024
Restricted
funds
2024
Total
2024
At 31 March 2024:
Tangible assels
Current assetsllliabilities}
Long temi liabilities
1,567,012
{81,8671
(319,987)
229,264
1,796,276
{81,867)
{319,987)
1,165,158
229,264
1,394,422
23 Related party transactions
There were no disclosable related party transactions during 2024.
24 Cash generated from operations
2025
2024
Deficil for the year
{90,5531
{14,349)
Adjustments for:
Investment income recognised in statement of finan￿al activities
Depreciation and impaimient of tangible fixed assets
(1.4221
194,812
184,782
Movements in working capital:
Decrease in stocks
Ilncrease}Idecrease in debtors
Increasel{decreasel in crediiors
20
2,930
(1.583)
{22:5061
57.381
Cash generated from operations
137.715
171,800
25 Analysis of changes in net Idebt)Ifunds
Al 1 April 2024
Cash flowsAt 31 March 2025
Cash at bank and in hand
108,060
7,636
115,696
Loans falling due within one year
Loans falling due after more than one year
{99,0601
(319,987)
{99,0601
{235,344)
84,643
(310,987)
92,279
{218,708)
21