Charity Registration No. NIC102034
Company Registration No. N1017565 (Northem Ireland)
ENTERPRISE CAUSEWAY LTD
(being a company limited by guarantee and not having a share capital)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

ENTERPRISE CAUSEWAY LTD
CONTENTS
Page
Charlty Information
Trustees, report
Independent audilorf8 report
Staternent of financlal acllvities
10-11
Balanc8 sheet
12
Slalement of cash flows
13
Notes to the flnanclal statements
14-28

ENTERPRISE CAUSEWAY LTD
LEGAL AND ADMINISTRATIVE INFORMATION
Chalrperson
Mrs F Lundy
Trustees
Mr J Armstrong
Mr P Ha5$0n
Dr K Hutchinson
Mr W Kennedy
Mrs F Lundy
Dr M McKinnoy
Mr E Montgomery
Mr P M¢Laughlin
Ms Clare Sugden
(Appoinled 24 March 2023)
Secretary
Mrs J Taggart
Charlty number
NIC102034
Company number
N1017565
Reglstsred office
17 Sandel Village
Knocklynn Road
Colgraine
BT52 1
Auditor
Moore (N.1.) LLP
30-32 Lodge Road
Coleralne
8TS2 1 N8
Bank8r8
Ulster Bank Limited
30 The Dlamond
Coleraine
Co. Londonderry
8TS2 1 DP
Danske Bank
Donegall Square West
Belfast
BT1 6JS
Sollcltors
Macaulay Wray LLP
35 New Row
Colerainè
Co Londonderry
BT52 1AH

ENTERPRISE CAUSEWAY LTD
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2023
The Trustees present their report and tlnancial slalernenls for Ihe year ended 31 March 2023.
The financial statements have been prepared in accordanco wlth Ihe accounting policies set out In note 1 to the
financial statements and comply with the charity's Memorandum and ArtIGles and Association, the Cornpanies Act
2006 and "Accounting and Reporting by Charllles., Statement of Recommended Practice applicable to charitles
preparing their accounts in accordance wlth the Financial Reporting Standard applicable in the UK and RepubliG
of Ireland {FRS 1021 (effecllve 1 January 2019)"
Objoctlvas and a¢tivities
Vlslon statement
'A safe place where you can explore, launch and grow your buslness and that's not changing, We are passionate
about provldlng the best support for our clients through collaborating with others. Our vision of success is your
suc¢6ss- we succeed when you succeed.,
Mlsslon ststement
To enable individuals and busin8sses lo achiev8 their enterprSse potentlal.
strat&glc prlorltles
Encouraging Enterprlsing People.
Creallng Innovative workspace solutions
Bullding Business Capacity.
Princlpal actlvltles
The principal activity of the company continued to be that of promollng the eslabllshment of small businesges
which will give employment In the area. There were no slgnlficanl changes to these actlvlties during tho year.11 is
proposed that the relalned surplus of £280,152 Is transferred to reserves.
Aim8 and obJe¢tlves
Th8 aim of the company is to enable individuals and businesses to achi8ve Ihelr potentlal by providing a gUPPOrt
structure where enterprise is inspired and nurtured by 811 or any of the following means..
The provision of financial a5S13tan¢e, technlc81 asslstance or buslness advice and consultancy In order to
provide training and employment opportuni118s for th8 8conomirAlly Inactlve In cases of financial or other
charitable need through help in setting up their own business or supporting the groW(h and developrnent of
8xisling businesses;
The creation of training and self-8mploymenl opportunllles by the provlslon of workspace and the provlslon of
bulldlngs or land or both for use on favourablè grounds.,
The advancement of educatlon, training ar retraining particularly among unemployed and the economically
Inactive, youth and women:
Th8 reli8f of unemployment In such ways as may be thought fit including assistance In setting up in buslness.,
and
- The rellef of povety In such a way as may be thought flt.
How our charlty benaflts the publi¢
Our activities provide beneflt to the publie by.
Providing opportunity for entrepreneurship;
Providing opportunity for education.,
Providing opportunity for employment-
Providing opportunity for conllnued personal development via our training. seminars and conferences.,
Co-operating and ne￿orkIng with other public benefit groups.,
Bringing wealth into the local economy to relieve poverty, both personal and common- and
Improving wellbeing and citizenship by dealing with the dlsadvantaged.

ENTERPRISE CAUSEWAY LTD
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
A¢hlevements and perforniance
Charitable activities delivered and achieved by Enterprise Causeway Ltd for this perlod include:
137 indlviduals supported to start up new businesses
4 Exploring Enterprise training courses delivered targeting the economically inactive population
1,400 young people supported in enterprise aclivitles through Causeway Business Education Partnership
269 female enlrepreneurs supported vla International Woman's Day celebrations
101 microbusinesses engaged In Funding for Growth masterclasses
121 f8male entrepreneurs attended th8 new Coffee & Connect neI￿orkIng instiative
27 delegates attending the North Coast Digital Collective, an initiative to engage and support buslnesse$
working In the digital creative geclor
103 businesses provided with low Cost, easy-ln, easy-oul workspace accommodation
90* designer makers supported through our social enterprlse project, 'The Designerl&'
2,500 engaged in CommunityArts Outreach Programme
Awarded Best Social Enlerprlse of Year and Leader af the Year al Social Ent8rprise Northern Ireland awards
Flnancial revlew
The key funding Sources for thls reportlng perlod that enabled the dellvery of the organisation's strategic prioritie¥
In¢lud8'.
Enterprise Nl
R8nt81 income from the organisation's propety base
The Arts Council
Causeway Coast & Glens Council
- SEUPB
.DFE
-DFC
The Honourable The Irish Society
The results for the year are set out on pages 10 and 11, The company return8d net income for the year of
£280,15212022 - £130,606). At 31 March 2023 the total funds of the charity amounted to £2.025,S22 {2022
£1,745,370} comprising unrestricted income funds of £912,62812022 - £880,103), unreslrlcted designated funds
of £419,389 (2022- £449,903) and regliicted funds of £693,50512022- £415,364).
Reserves pollcy
The Trustees recommend that the net incom8 of £280,152 (2022 - £130,606) be added to the total Income fund
brought forward, The relevant fund now has a balance of £2,025,522 {2022 - £1,745,370}.
The Trustees consider that the yaar-end cash balance of £208,458 wlll ba m¢r8 than sufficient to meet the
ongoing operating costs and capilal requirements of the company.
Plan$ for the future
The future plans of thè company are as follows..
To continue to provide help In the way of advice, training and mentorfng to start-up businesses and exlsllng
buslnesses.,
To continue to make premises available for businesses ta operate from;
To continu8 lo promote enterprise to the education sector creating awareness of self-employment as a potentEal
career option.,
To Continue to benefit from being part of a larger collective called Enterprise Nl;
- To continue 5UPPOrting female entrepreneurship across Causeway Coasl & Glen5 region.,
- To continue 5UPPOrting the Dlgital Creative sector across Causeway Coast & Glens;
To provide a route lo market for local designer makers through The Designerie.
- To launch the Bushmills Courthouse in Q2 2024-
To contlnue delivery on a Communily Arts Education Programme for the benefit of Causeway Coa51 and Glens
region.
To launch joint venture with Ralhmullln Development Trust to support social innovatian

ENTERPRISE CAUSEWAY LTD
TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Taxatlon
The company is a charity (Charity No NIC102034) and is recognised as such by HM Revenue and Customs for
taxation purposes, As a result there is no liability lo taxation on any of ils income.
Structurei governance and management
Enterprise Causeway Ltd continues to operate as a nol-for-profil charitable organisalion with Company Llmited
by Guarantee slalus. The organisalion is govemed by a Board of Trustees, comprising of 10 in total, The Board
adminlsters the charity and normally meels bi-monthly. The Chief Executive, Jayne Taggart. is appointed by the
Trustees to manage the day-to.day operation5 of Ihg charity. To facililale effective operalions, the Chlef
Executive has d8legaled authority, wilhin terms of delegatlon approved by the Trustees, for operational matters
including finance, ernploymenl and performance related aclivily.
Pay and remuneration for key management personnel are reviewed annually in June and remuneration Is
based on scope of responsibllilies and market value. Comparisons sought wllhln the wider LEA network, SENI
{Soclal Enterprlse for Nl} and C03 - a membership organisation for Chief Officers of the 3rd Sector.
Naw dir&ctOfS ara briefed on their legal obligations under charlly and company law, Ihe content of the
Memorandum and Articles of ASSO￿81[0n, the commtttee and decislon maklng process, the strategic prlorllles
and recent financial parfomiance ol th8 charity. They are free to discuss any Issue wlth other current dlreclors
or key employees. Directors are encouraged to attend any appropriate external tralnlng events where these wlll
facllltale the undertaking of thelr role. This provid8s an und8rstandlng of what Charity Trust8eship entails and
the responsibilities and duties that go wllh that posilion.11 is planned lo lacllilale Ir8lning on Good Governance,
The Charilies Act 2008 and the rèsponsibilities of DlreClors￿rUStees In relatlon to Ihls leglslatlon In 2023.
The registeied office of the company Is 17 Sandel Vlllage, Knocklynn Road, Coleralne, Northern Ireland, 8T52
1￿. The company reglslralion number Is N1017585.
The Truslees, who are also the dlreclors for the purpose ofcompany law, and who served during the year and up
lo the date of signature of the financlal statements were:
Mr J Armstrong
Mr P Hasson
Dr K Hutchinson
Mr W Kennedy
Mrs F Lundy
Dr M McKinney
Mr E Montgomery
Mr P McLaughlln
Ms Clara Sugden
{Appo5nled 24 March 20231
Appolntlng of trustees
At every General Meeting of Enterprise Causeway Ltd, one thlrd of the Trustees shall retlre from offic8,
representlng those who have been in longest offlce slnce thelr last electlon. A retiring Twslee shall b& eligible for
re.election, The Trustees have the power at any time and from tim&tO¥time to appoinl any person to be a Iruslee.
Related partles and Cowoperatlon with other organisatlong
None of our trustees receive remuneration or other benefit from their work with the charity. Any connection
be￿een a trustee or senior manager of the charity with any related parties must b8 disclosed to the full board of
trustees in the same way as any other contractual relationship with a related party. In the current year any such
related party transactions are reported In note 24 to the accounts.

ENTERPRISE CAUSEWAY LTD
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
statement of Trustees. responslbllities
The Trustees, who are also the directors of Enterprlse Causeway Ltd for the purpose of company law, are
responslble for preparlng the Trustees, Report and the financlal statements in accordance wilh appllcable law
and Unlled Klngdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requlres the Trustees to prepare financial statements for each financial year which glve a true and
fair view of the stale of affairs of the ¢harily and of the Incoming resources and application of resources. Includlng
the Income and expenditure, of the charitable company for that year.
In preparlng these financial statements. the Trustees are required to:
select suitable accounllng pollcies and then apply them consislently;
observ& the methods and prlnclples In the Charities SORP;
make ludgemenls and esllmates that are reasonable and pnjdent;
state whether appllcable UK Accounllng Slandaids have been followed, subject to any material departures
dlsclosed and explained In the financial statemenl8', and
prepare th8 financlal slalements on the golng concern basls unless It Is Inapproprlate to presume that the
charlty wlll continue in operallon.
The Trustees are responslble for keeplng adequate accountlng records that dlsclose wlth reasonable accuracy at
any lime the financlal position of the charity and enable them to ensure that the flnancial slalements comply wlth
the Companles Act 2006. They are also responsible for safeguarding the assets of the charlty and hence for
laklng reasonable steps for the preventlon and detection of fraud and Other irregularities.
Audltor
In accordance wllh the company's artlcles, a resolution proposlng that Moore {N.I.I LLP be reappolnted as
audltor of th8 company will be put at a General Meeting.
D16closure of Informatlon to audltor
Each of the Trustees has confimed that there Is no infomiation of whlch they are aware whlch Is relevant to tha
audit, bul of whlch the 8udllor Is unaware. They have fvrther ujnfirmed that they have taken approprlale Steps to
identify such relevant Information and lo establish that the audltorls aware of such informallon.
The Trustees, report was approved by the Board of Trustees.
Mrs F Lundy
Trustee
Dated: 18 December 2023
VLLL-S

ENTERPRISE CAUSEWAY LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ENTERPRISE CAUSEWAY LTD
Oplnlon
We have audll@d the financial statements of Enterprise Causeway Ltd (the 'charity') for the year ended 31 March
2023 which comprise the statement of financial activities. the balance sheet, the slalement of cash llows and the
notes to the financial statements, includlng a summary of significant accounting pollcies. The financial reporting
framework that has been applied in thelr preparation is applicable law and United Kingdom Accounting Standards.
Including Financial Reporting Standard 102 The Flnancial Reporting Standard applicable in th8 UK and Republic of
Ireland (Unlted Klngdom Generally Accopted Accounllng Practice).
In our opinlon, the financial statements..
givo a true and fair view of the slate of the charltable company's affalrs as al 31 March 2023 and of Its
Incoming resources and application of resources, Including ils income and expendlture, for the year then
ended.,
have been properly prePa￿d In accordance with United Klngdom Generally Accepted Accounting PraclirA',
and
have been prepared in 8ccordance wrth the requirements of the Companies Act 2006.
Bag19 for opinion
We conducted our audit in accordance wllh International Standards on Audlling (UK) (ISAS (UK)) and appllcable
law. Our re$ponslbllllles under thos8 standards are further des¢rlb8d in the Auditorfs responslbllitles for the audit of
the financlal statements seclion of our report. We are Indep&ndent of the charity In accordance with the ethical
requlrements that are relevant to our audit of the financial statements In the UK, Including the FRC'S Ethical
Standard, and we have fulfilled our other elhlcal responsibilities In accordance with these requiremenls. We believe
that the audit evldence we have oblaSned Is sufficient and appropriate lo provid& a basis for our opinlon.
Conclusions relatlng to golng ¢oncern
In auditlng the financial stat8menls, we hav8 concluded that the Trustees, use of th8 going concern basis of
accounting in the preparallon of the financial statements Is appropriate.
Based on the work we have p&rformed, w8 have not idenllfled any m8lerlal uncertalnli8s relating to events or
conditions that, Indlvldually or collectively. may casl slgnlficant doubt on the Charity's ability to contlnue as a g0Sng
concem for a p8ri0d of at least tsvelve months from when the financial slatem8nts ar8 aulhorised for Issue.
Our responsibilities and thè responsibllitles of the Trustaes with respect to going concern are d83cribed In the
relevant sections of this report.
Other Infomiation
The other informatlon comprlses the Informallon included In the annual report, other than the financlal statements
and our auditor's report Ihereon. The Trustees are responsible for the other information contained within Ihe annual
port. Our opinion on the financial statements does not cover the other information and, except to the extent
otherwlse explicitly slated In our report, we do not eXp￿$S any form of assurance concluslon thereon.
Our responsibllity Is to read the other information and, In dolng so, consider whether the other infofmation is
materially Inconsistent with the financial statements or our knowledge obtaingd in the audit or otherwise appears to
be materially misslaled. If we idenlify such material inconsistencies or apparent material mlsstalements, we ara
required to determine whether the￿ is a material misstatement in the financial statem&nts or a material
mis51alemenl of the other Information. If. based on Ihe work we have performed, we ¢on¢lude that Ih8ra is
material misstatement of Ihis other infomiation, we are requlred to report that fact.
We have nothing to report in Ihls regard.

ENTERPRISE CAUSEWAY LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ENTERPRISE CAUSEWAY LTD
Oplnions on other matters prescrlbed by the Companies Act 2006
In our oplnion, based on the work undertaken in the course of our audit..
the information given in the Trustee5' report, which includes the dlrectors. report prepared for the purposes of
company law, for the financial year for which the financlal statements are prepared is consistent with th8
financial statements., and
the directors, report included withln Ihe Trustees. report has been prepared in accordance wllh applicable legal
requirements.
Matters on which we are requlrad to report by exceptlon
In the Ilght of the knowledge and understanding of th@ charity and Its environment obtained in Ihe course of the
audlt, we have not identifiéd materlal mlsslatements in the dlreclors, report included wllhin the Trustees, report.
We have nothing lo report in r8spect of the followlng matt8rs in relallon to which the Companies Act 2006 requires
us to report lo you If, in our opinion:
adequate accounting records hav8 not been kept. or returns adequate for our audll have not been received
from branches not visited by us; or
the financial statèments are not in agreement with the accounting records and returns., or
certain disclosurès of truslee5' remuneration specified by law are not made; or
we have not received all the information and explanations we requlre for cur audit., or
th8 Tiustees were not entitled to prepare the finan¢lal statements in accordance with the small companies
regime and take advantage of the Small companles, exemptions in preparlng the Trustees, report and from Ihe
requlrement to prepare a strategic report.
Responslbllltles of Trustees
As explalned more fully in the statement of Trustees, responsibilities, the Trustees, who are also the dlrectors of the
charlty for the purpose of company law, are responsible for the preparallon of the financial slalemenls and for being
8alisf18d that they give a true and fair view, and for such internal control as the Trusl88s determlne Is necessary to
enable the preparation of financial statements Ihal are free from matarial misstatement, whether due to fraud or
error. In preparing the financlal statements, the Trusle8s are responsible for assesslng the charity's ability to
continue as a going concern, disclosing, as applicable, matters related to golng concern and uslng the going
concern basis of accounting unless the Trustees either intend lo liquidate the charitable company or Io c8ase
OP8ration$, or have no reallsll¢ alternatlve but to do so.
Auditorf8 respon8lbllltle$ for the audlt of the flnanclal statem•nt8
Our objectives are to obtain reasonable assurance aboul whether the financial statements as a whole are free from
material mlsstalemenl, whether due to fraud or error, and to issue an auditorfs report that Includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted In a¢¢ordance
with ISA5 (UK) will always detect a mat8rial misstatement when il exists. Misstatements can ari59 from fraud or
error and 8re considered malerial if, Individually or in the aggregate, they could reasonably be expected to Influence
the 8conomlc declslons of users taken on Ihe basls of these financial statements,
Irregularities, inGluding fraud, are instances of non-compliance with laws and regulations. W8 design procedures in
Ilne wlth our respon5ibililies. outlined above, to detect material misstatements in respect of irr8gularilies, Includlng
fraud. The extent to which our procedures are capable of delecling irregularltles, Including fraud is detailed below.

ENTERPRISE CAUSEWAY LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ENTERPRISE CAUSEWAY LTD
Explanation as to what extent the audit was considered capable of detectlng Irregularlties, includlng fraud
The objectives of our audit in respect of fraud, are., lo identify and assess the risks of material misstatement of the
financial slalements due to fraud- lo obtain sufficient appropriate audit evidence regarding the assessed risks of
material misslalement due to fraud, through designing and implementing appropriate responses to those assessed
risks- and lo respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the
primary responsibillty for the prevention and detection of fraud rests with both management and those charged with
governance ofthg company.
Our approach was as follows..
We oblalned an undBrstanding of the legal and regulatory requirements applicabl8 to the company and
considered that the most signiflcant are the Companies Act 2006, Charities Act (Northern Ireland) 2008, th8
Charity SORP. and UK financial reporting Standards as issued by the Financial Reporting Council.
We obtained an understanding of how the company compli8S Wlth these requlrements by discussions with
management and those charged wllh governance.
We assessed the rlsk of materlal misslalement of the financial statements, including the risk of material
misstatement due to fraud and how It might occur, by holdlng discussions with management and those
charged with governance.
We Inquired of management and those charged wllh governance as to any known Inslances of non-
compllance or suspected non-compliance wilhlgws and regulations.
Based on this understanding, we designed specific appropriate audit pracedures to Identify instances of
non-compliance with laws and regulations. Thls included making enquiries of management and those
charged wllh gcvernance and obtalnlng additional corroborative evldence as required.
As part of an audit in accordance wlth ISAS (UK) we exerGise professional judgement and malntain professional
scepticlsm throughout the audll. We also:
Identify and assess the risks of material misstatement of the flnanclal slatement8, whether due to fraud or
error, deslgn and perform audit procedures responslve to those risks, and oblain audit evldence that 55
sufflclent and approprlale to provlde a basls for our opinion. The risk of not detecting a material
misstalement resulting from fraud is hlgher than for one resulting from arror, 89 fraud may Involve collusion,
forgery, intentional omissiong, misrepresentations, or the override of internal control.
Oblaln an understandlng of Internal control relevant to the audll In order to deslgn audil proc8dures that are
appropriate In the ¢lrcumstan¢es, but not for the purposes of expressing an opinion on the effecliveness of
the company's internal control.
Evaluate the appropriateness of accounting policias used and the reasonabl8ness of accounling eslimales
and related dlsclosures made by thè Trusleeg.
Conclud8 on the appropriateness of the Trustees, use of the going concern basis of accounting and, based
on the audit evidence obtained, whelher a material uncertainly exists related to events or conditions that
may cast Significant doubt on the charity's ability to continue as a going ¢onGgrn. If we conclude that a
malerlal uncertainty exists, we are required to draw attention in our auditor's report lo the related
dlsclosures In the financial statements or, if such disclosures are inadaquat8, to modify our opinion. Our
conclusions are based on the audit 8videnc8 obtained up to the dale of our auditor's report. However,
future events or ¢ondilion5 may Cause the charity to Cease to continue as a going Concern.
Evaluate the overall presentallon, structure and contenl of the financlal statements, Including the
disclosures. and whether Ihe financial statements represent Iho underlylng transactlon5 and events in
manner that achieves fair presentation.
A further descriptlon of our responsibilities Is avallable on the Financial Reportlng Councll's website al., httPS',11
.frc.org.ukJauditorsresponsibililies. Thi5 de5crlption forms part of our auditorfs report.
We communlcale with Ihose Charged with gDvemance regarding, among other matters, the planned scope and
timing of the audit and significant audit findingg, including any significant deficiencies in internal control thal we
identify during our audit.

ENTERPRISE CAUSEWAY LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ENTERPRISE CAUSEWAY LTD
Use of our report
This report is made solely lo the charlty's members, as a body, In accordance wlth Chapter 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we might stale to the charity's members those
matters we are required to slate to them in an auditors. report and for no other purpose. To the fullest extent
permitted by law, we do not accept or assume responslbility to anyone other than the charlty and the charitys
members as a body, for our audit work, for thls report. or for Ihe oplnlons we have formed.
Dr R I Peters Gallagher OBE FCA {Senlor Statutory Audltor)
for and on behalf of Moore (N.I.I LLP
18 December 2023
Chartered Accountsnts
ststutoryAudltor
30-32 Lodge Road
Coleralne
BT52 1 NB

ENTERPRISE CAUSEWAY LTD
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
Unrestricted Unrestricted Restrictsd
funds
funds
funds
general designated
2023
2023
Total Unrestricted Unrestricted Restricted
funds
funds
funds
genernl deslgnated
2022
2022
Total
2023
2023
2022
2022
Notes
Income and endowments from:
Charitable activities
other trading activities
Investmenls
Other income
634.721
221.498
563
39.495
418.131
1.052.852
221A98
563
39A95
676.484
214,627
25
9.791
232,626
909.110
214,627
25
9.791
Total income
896.277
418.131
1.314408
900,927
232.626
1.133.553
Ex
endlture on:
Charitable activities
867.954
30.515
135.787
1.034,256
904,325
30,515
68,107
1,002.947
Net incoming resources before trdnsfers
28.323
{30,515)
282.344
280.152
{3.398)
(30,515)
164,519
130,606
10-

ENTERPRISE CAUSEWAY LTD
STATEMENT OF FINANCIALACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
Net incoming resources before trdnsfers
28.323
(30.515)
282.344
280,152
(3.398)
(30.515)
164.519
130.606
Gross transfers between funds
4.203
(4.203)
(245)
245
Net income for the yearl
Net movement in funds
32.526
130.515)
278.141
280.152
(3.643)
(30,515)
164.764
130,606
Fund balan￿5 at 1 April 2022
880.102
449,904
415,364 1,745,370
883.746
480,418
250,600
1,614.764
Fund balances at 31 March 2023
912.628
419.389
693.505
2.025.522
880.103
449,903
415.364
1,745,370
The statement Df financial actrvities includes all gains and losses recognised in Ihe year.
All income and expenditure dertve from continuing activibes.
The statement of financial activities also complies with the requirements for an income and expendilure account under Ihe Companies Act 2006.
11

ENTERPRISE CAUSEWAY LTD
BALANCE SHEET
AS AT31 MARCH 2023
2023
2022
Notes
Flxed assets
Tanglble assels
12
2,232,099
1,940,311
Current assets
Stocks
Debtors
Cash al bank and In hand
13
14
43,840
200,036
208,456
39,020
137,385
231,792
452,331
408,197
Credltors: amounts lalllng due wlthln
one year
17
(318,418)
(198,134)
Nel current assets
133,913
210,063
Total assets less current Ilabllltles
2,366,012
2,150,374
Credltors: amount8 falllng due after
more than one year
18
1340,490)
1405,004)
Net assets
2,025,522
1.745,370
Income fund8
Restricted funds
Unrestricted funds - designated
Unreslricted funds - general
20
693,506
419,389
912,628
415,384
449,903
880,103
2,026,622
1,745,370
The flnanclal statements were approved by the Trustees on 18 December 2023
Mrs F Lundy
Trustee
Cornpany Reglstratlon No. N1017665
12

ENTERPRISE CAUSEWAY LTD
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2023
2023
2022
Notes
Cash flows from operating aGtlvltle$
Cash gen8rated from operations
25
435,348
143.559
Investing activities
Purchase of tangibl& flxed assets
Investment income received
(397,092)
663
(249.906)
25
Net ca8h used In Invo8tlng actlvltle8
1396,5291
(249,881)
Flnan¢lng actlvltles
Proceeds from new bank loans
Repaym8nl of bank loans
Payment of obligations under finance leases
110,000
(94,271)
(46,203)
149,9121
118,2121
Net ¢ash usad In flnancing actlvltie8
(68,124)
(30,474)
Net deGrease In cash and cash equlvalents
(29,3051
(138,796)
Cash and cash equlvalenty al beginning of year
231,792
368,588
Cash and cash equlvalent8 at end of year
202,487
231.792
R•lating to:
Cash al bank and in hand
Bank overdrafts Included In credllors payabla
wlthln one year
208,456
231.792
(5,9691
13

ENTERPRISE CAUSEWAY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Accountlng pollcles
Charity informatlon
Enterprise Causeway Ltd is a private company limited by guarantee incorporated in Northern Ireland. The
registered office is 17 Sandel Villagè. Knocklynn Road. Coleraine, BT52 1WW.
1.1 Accountlng convention
The finanGial statements have begn prepared in accordance wilh the charlty's Memorandum and Articles of
Association, the Companles Act 2006 and "Accounting and Reporting by Charllies.. Statement of
Recommended PraGIic8 applicable lo charllles preparing iheir a¢¢ounts in accordance with tho Financial
Reporting Standard applicable In the UK and Republlc of Ireland (FRS 102) {effeclive 1 January 2019)" The
charity is a Public Benefit Entity as defined by FRS 102.
The fSnan¢lal stat8m8nts are prepared in sterllng, which 1$ the functional currency of th8 charity. Mon8tary
amounts in these fin8nclaS statements are rounded to the nearest £.
The prlnclpal accounting policies adoptad are set out b810w.
1.2 Golng concem
At the lime of approving the financial statements, th8 Trustees have a reasonab18 expectation that the charlty
has adequate resources to contlnue In operational existence for th8 foreseeable fulura. Thus the Trustees
conllnuè to adopt the going concern basis of accounllng in preparing the financlal slat8menls.
1.3 Charltable funds
Unrestrict8d funds are available for use al the dlscretion cf th8 Trustees In furtherance of thelr charitable
obj8clives.
Deslgnated funds are unrestricted fund8 set aside at the discretion of the directors for specific purposes. Th8
designated funds for fixed assets are that part of unreslrlcted funds that r8pr8s8nts fixed assets held.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and
uses of the reslricled funds are set out in the notes to the flnanclal slatemenls.
1.4 Incomlng resources
All incoming resource8 8re Included in the statement of financial actlvitles when the Gharity is entllled to the
income and the amount can be quanlified with reasonable accuracy and there is sufficient certainty Ihat
ceipt of the Income Is considered probable. The followlng specific policies are applied to partlcular
calegorles of Income,
Investment Income Is Included when receivable.
Incorne from charitable a¢livilie5 includes Income recognised as earned (as the related goods or services are
provided) und9r GonlraGt or where entitlement to grant funding is subject to specific performance condlllons.
Grant income included in ihis category provides funding to support programme activitle5 and 15 recogni5ed
where the entitlement. certainly of receipl and amount can be measured with sutTicienl rellablllly.
1.5 Resources expended
Expenditure 15 recognlsed on an accruals basis as a liabllity Is incurred. Fundlng provlded through contractual
agreement5 and performance related grants are recognised as goods and services are supplied. Other grant
payments are recognised when a constructive obllgalion arises Ihat results in the payment being unavoidable.
14-

ENTERPRISE CAUSEWAY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Accountlng pollcies
IContlnued}
1.6 Tanglble fixed assets
Tangible fixed assets are initially measured al cost and subsequently measured al c051 or valuation. net of
depreciallon and any Impalrment losses,
Depreclatlon Is recognised so as to wrlte off Ihe cost or valuallon of ass&ls le5S their residual values ovgr their
useful Ilves on the following bases:
Land and building5
Fixturas and fittings
Motor vehicles
20/0 Straight lin&
50A . 200A straight line
250h straight line
The gain or loss arising on the disposal of an asset is delermined as the dlfference be￿een th8 sale
pro￿$d$ and the carrylng value of the asset, and Is recognlsed In the statement of financial aclivilies.
1.7 Impalrmant of flxed assets
At each reporting end dale, the charlty revlews the carrylng amounts of Ils tangible assets to determlne
whether there 15 any indication that thos8 assets hav8 suffered an impaim18nt1055. If any such Indlcallon
exists, the recoverable amounl of the asset is estimated in order to d8termine the extent of the Impalrmenl
loss {if any).
1.8 Stocks
Stocks are slated al th8 lower of cost and estimated selling price less costs to complete and sell, Cost
comprises direct materials 8nd, where applicable, direct labour costs and those overheads that have been
incurred in bringing the stocks to Ihelr present location and condition.
Net realisable value is the estlmaled selllng price less all estimated costs of completion and costs to be
incurred in marketing, selling and dislributlon.
1.9 Cash and cash equlvalents
Cash and cash equivalents includ8 cash in hand, deposits held 81 Call with banks, other short-term Ilquld
investments wllh origlnal maturities of three monlhs or18ss, and bank overdrafts, Bank overdrafts ar8 shown
within borrowings in current liabilllles,
1.10 Financial instruments
The charlty has elected to apply the provlslons of Sectlon 11 'Basic Financial Instruments, and Section 12
'Other Financlal Instruments Issues, of FRS 102 to all of Ils financlal Instruments.
Financial inslrumenls are recogniséd in Ihe charity's balance sheet when Ihe charity becomes paty to the
contractual provisions of the instrument.
Financial assets and Ilabilltles are offset. with the net amounts presented in lh& financial statements, when
there is a legally enforceable right to set off the recognised amounts and there Is an intenllon 10 Settle on a
net basis or to realisè th8 asset and settle the Ilabilily simultaneously.
Basic financial assets
Basic financial assets, which Include debtors and cash and bank balances, are initially measured al
transaction price including transaclion costs and are subsequently carried at amortised cost using the
effective interest method unlèss Ihe arrangement constitutes a financing transaction, where the transaction is
measured al the present value of the future receipts discounted al a market rate of interesl. Financial assets
classified as reGeivable within one year are not amortised.

ENTERPRISE CAUSEWAY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Accountlng pollGies
{Contlnuedl
Baslc flnancial liabilitles
Basic financial liabilllles, Including creditors and bank loans are initially recognlsed at transactlon price unless
the arrangement constitutes a financing transaction, where the debt Instrument 15 measured at the present
value of the future payments discounted at a market rate of interest. Financial liabilitles classified a5 payable
within one year are not amortised.
Debt Instruments are subsequently carrled at amortised cost, using the effective interest rate method.
Trade creditors are obllgallons to pay for goods or servlGes that have been acqulred in the ordlnary course of
operations from suppllers. Amounts payable are Classified a5 current liabllitles If payment Is due within one
year or less. If not, they are presented as non-Gurrenl liabililles. Trade Creditors are recognised inillally at
transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognltlon of flnanclal Ilablllties
Financial liabllities are derecognised wh8n the charlty's contractual obligations explre or are dlscharg8d or
cancelled.
1.11 Employaa benefits
The cost of any unusad hollday enllllemenl Is recognised in the period In which the employee's services are
received.
Termlnatlon beneflts are reccgnis8d immadiately as an expense when the charity is demonstrably committed
lo terminate the employment of an employee or lo provid8 t8rminalion benefits.
1.12 Retirement beneflts
Payments to d8fin8d contribution retiremanl benefit schemes are charged as an expense as they fall due.
1.13 Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the rlsks and
rewards of ownershlp to the lessees. All other leases are classified as operating leasas.
Assets held under finance leases are recognised as assets al the Iow8r of the assets fair value at the date of
incèption and the pre88nl valu8 of th8 minimum lease payments. The related liabillly Is Included in th8
balance sheet as a finance lease obligation. Lease payments are treated as conslstlng of capital and interest
elements. The interest is Charged to net Incomel(expenditure) for Ihe year.
Crltlcal aGGountlng estlmates and Judgements
In the appllcallon of the charlty's accounllng pollcles, the Trustees are requlred to make judgements,
estimates and a5sumpiion5 about the carrying amount of assets and Ilablllties that are not readily apparent
from other sources. The estlmates and assoclaled assumptions are based on hislorlcal experiencé and other
factors that are considered to be relevant. Actual results may dlffer from these esllmates.
The estimates and underlying 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 future periods wherè the revision affects both current and future
perlods.
16-

ENTERPRISE CAUSEWAY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Charltable actlvltles
2023
2022
Tralnlng courses
Rents
Services
Room hira income
Mlscellaneou5 income
Grant income
64,317
S09,350
18,147
9,658
507
450,873
140,824
484.475
15.108
7.163
80
261,480
1,052,852
909,110
Analygi$ by fund
Unreslrlcled funds - g8ner81
Unreslricl8d funds - designated
Restricted funds
634,721
418,131
1,052,852
For the year ended 31 March 2022
Unrestricted funds - general
Restricted fvnds
676,484
232.626
909,110
Other tradlng actlvltle8
Unra$trlct8d UnrestriGted
funds
funds
general
general
2022
2023
Shop sales
Shop commissi¢n
179,436
42,062
188.001
48,626
Other tradlng acllvltles
221,498
214,627
17-

ENTERPRISE CAUSEWAY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Investments
Unrestricted Unrestricted
funds
funds
general
general
2023
2022
Bank interest
S63
25
Other Incoma
Unrestrfcted Unrestricted
funds
fvnds
general
general
2023
2022
Solar ROC income
Solar export incoma
30,325
9,170
2,162
7,629
39,495
9,791
18-

ENTERPRISE CAUSEWAY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Charitable activitles
2023
2G22
Staff costs
Depreciation and Impalrment
Purchases
Staff training
Openlng Stock
Closlng stock
Tralnlng costs
Repairs and maintenance
Advertising and promotlons
Motor and travel expenses
Sub8Cflpllons
Miscellaneous expenses
Bank charg8S
Interest on finance lease
Loan interest paid
Computer expenses
57,185
105,304
96,835
5.850
39,020
{43,840)
77,894
75,892
8,869
18,177
7,743
9,814
6,496
1,111
20,58S
20,110
34.517
101.128
99,336
72
33.668
(39.020)
136.722
80,940
16,056
15,063
6,172
5.906
6.237
2,293
13.223
17.752
607,04S
530.065
Share of support cosls (see note 81
Shar8 of governance costs (see note 8)
510,447
16,764
4S5,977
18,905
1,034,2S8 1,002,947
Analysis by fund
Unrestricted funds - general
Unreslricied funds - designated
Restri¢t8d funds
867,954
30,515
135,787
904,325
30,515
68.107
1,034,256 1.002,947
19-

ENTERPRISE CAUSEWAY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Support costs
Support Governance
costs
costs
2023
2022 Basls of
allocation
staff costs
Rent and rates
Light and heat
Cleaning
statlonery, printing and postage
Telephone
Insuranc8
Legal and professional
S8rvirAs hired
34S.778
69,081
33,177
9.492
6.S65
21,049
21,717
3,050
538
345.778
69,081
33,177
9,492
6,565
21,049
21,717
3,050
538
298,949 Support
67,068 Support
32,255 Support
9,305 Support
7,744 Support
15,514 Support
19,646 Support
3,450 Support
2,046 Support
Audit fees
Legal and professlonal
5,000
11,764
5,000
11,764
4.000 Governance
12,905 Governance
510,447
16,764
527,211
472,882
Analysed be￿een
Charitable activities
510,447
18,764
527,211
472,882
Governance costs Includes payments to the auditors of £5,000 (2022- £4,000) for audit fees.
Trustses
None of the Trustees (or any persons connected with them) received any remuneration or benefits from Ihe
charity during the year and nailhar w8r8 Ihey reimbursed expenses durlng the year.
-20-

ENTERPRISE CAUSEWAY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
10 Employees
Number of employees
The average monthly number of employees during the year was:
2023
Number
2022
Number
Offica and management
12
12
Employment costs
2023
2022
Wages and salarfes
Social security costs
Other pension costs
362,604
32,787
17,572
278,820
31,273
23,373
402,963
333.486
The number ofemployees whose annual remunerallon was £80,000 or more wore:
2023
Number
2022
Number
Over £100,000
11 Taxatlon
The charlty Is exempt from tax on incorne and gains falling within saction SOS of the Taxes Act 1988 or seollon
252 of the Taxatlon of Chargeable Gains Act 1992 to the extent that th850 are applled to Its charitable objects.
21

ENTERPRISE CAUSEWAY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
12 Tangible fixed assets
Land and F5xtures and Motor vghlcles
bulldings
f]ttlng5
Total
Cost
At 1 Aprll 2022
Additions
2,487.080
341.766
687,584
55,326
34,950
3,209,614
397,092
At 31 March 2023
2,828,846
742,910
34,960
3,606,706
Depreciation and impairment
At 1 April 2022
Depracialion charged in the year
855,200
66,693
396,627
39,873
17,476
8,738
1,269,303
105,304
At 31 March 2023
911,893
436,500
26,214
1,374,607
Carrylng amount
At 31 March 2023
1,916,963
306,410
8,736
2,232,099
At 31 March 2022
1,631,880
290,967
17,474
1,940,311
The net carrylng value of the tangible fixed assets includes the following In respect of assets held under
finance 18as8 or hlre purchase contracts. The depreclallon charge In r8specl of such assets amounted to
£8,738 (2022- £20,421) for the year.
2023
2022
Fixtures and fittings
Motor vehlcles
163,562
17,474
8,738
8,736
181,036
13 Stocks
2023
2022
Finished goods and goods for resale
43,840
39,020
14 D8btors
2023
2022
Amounts falljng due withln one year.
Trade debtors
Other debtors
Prepayments and accrued income
14,470
180,159
5,406
11,090
121,124
5,171
200,035
137,385
-22-

ENTERPRISE CAUSEWAY LTD
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
15 Loans and overdrafts
2023
2022
Bank overdrafts
Bank loans
5.969
411,771
461,683
417,740
461,683
Payable withln one year
Payable after one year
82,OS1
335,689
66.718
394.965
Amounts included above whlch fall due after five years..
Payable by Inslalments
137,232
166,588
The company's bank facilities ar8 secur8d by a fixed charg& over the leasehold property being the premises
situated at and known as Killeague Housé, 17 Sandel Village, Knocklynn Road, Coleraine., leasehold 1st
Legal Charge ov8r Causeway Enterprise Agency. Loughanhlll Industrlal Eslale, Coleraine, Co Londonderry
8T52 2NR,' and an all monies d8b8nlure conferrlng on the Bank, fixed and floatlng security over the property
ass81s undertaklng rights and revenues (both pres8nt and fulur8J of the Borrower. There are also securities
over debanlur8 charging land.. a first and only legal rnortgage over the property sltuated at Loughanhill
Industrial Eslale. Coleraine and al Killeague House, 17 Sandel Vlllage, Knocklynn Road, Coleraine; and
asslgnment over the Rental Income in respect of Moyle Enterprlse Agency. Kllleague House and Loughanhill
Induslrlal Eslale.
Th& Company has 3 current bank loans, the terms of which are as follows:
1. repayable monthly, schedulad repayment date Jan 2034, with a rate of interest of the Danske Bank Ba$e
Rate plus a variable interest margln of 2.750
2. repayable monthly. sch8du18d repayment date Jan 2024. with a rate of interest of the Danske Bank Base
Rate plus a variable interest margin of 2.750/0
3. repayabl& monthly, scheduled repayment dat8 July 2027, with a rale of interest of the Danske Bank
Reference Rale (UK) plus a variable Interest margin of 2,475%
16 Flnance lease commltments
Future rninimuffl lease payfflents due underfinance leases..
2023
2022
Within ona year
Within two and five years
6,094
5,586
19,287
11,680
11,680
11,641)
30.967
{2.716)
Le55- future finance charge5
10,039
28,251
Finance lease payments represent rentals payable by the company to acquire a BMW. The average hire
purchase term Is 4 years.
-23-

ENTERPRISE CAUSEWAY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
17 Creditors.. amounts falling due withln one year
2023
2022
Notes
Bank loans and overdrafts
Obligations under finance leases
other laxation and soci81 security
Trade creditors
Accruals 8nd deferred income
15
16
82,051
5,238
9,402
154,449
67,278
66,718
18,212
773
57,519
54,912
318,418
198.134
18 Credltors: amounts falllng due after more than one year
2023
2022
Notes
Bank loans
Obllgatlons under finance leases
15
16
335,689
4,801
394,965
10,039
340,490
40S,004
19 Retlrement beneflt sch8m&$
Deflnod Contrlbutlon schemes
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of th8
scheme are held separately from those of the charity in an independently administerad fund.
Tha charga lo statement of financlal actlvllles In regpect of defined contribution sch8mes was £17,572 (2022 -
£23,373).
20 Re$trl¢ted fund
The r8strict8d fund relates to the PEACE IV Enterprise Causeway Shared Space Creatlve Hub Prolecl.
21 Analysls of net assets bel￿e0n funds
Unrestricted Unrestricted Restrlcted
funds designated
fund8
funds
2023
Total
Total
2023
2023
2023
2022
Fund balances at 31 March
2023 are represented by..
Tangible asset5
Current assets
Long larm liabilities
1,119,20S
133,913
{340,4901
419,389
693,506 2,232,099
1,940,311
133,913
210,063
(340,490) {405.004)
912,628
419.389
693,505
2,025,522
1,745,370
-24-

ENTERPRISE CAUSEWAY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
22 Flnanclal commitments, guarantees and contingent liabilities
Certain grants received and re￿1vable may become repayable lo the funder if the Charity Is no longer able lo
meet the conditions under which they were awarded. Due to the nature of these contingencies. it is not
posslble to quantify the potential effect or give an indiGation of timing as to the liabilities Ihat may arise.
23 Capltal commltments
At 31 March 2023 the charlty had capital commitments totalling £3,558,569, relallng to The Courthouse
Bushrnills.
24 Related party transaotlons
Remuneratlon of key managemont parsonn61
The key man8gemenl personnel ofthe company comprise the Truste8s and senior management team.
2023
2022
Aggregate compensallon
104,267
116,595
Transactlons wlth related partle8
During the year the charity entered Into the following transactions with related partles:
Included within rents recelved Is an amount of £20,099 <2022 - £19,49n and wlthln servlces16 an amount of
£1,225 (2022 - £725) paid by ATG, of which Mr Mark McKinn8y, director, Is the ownerldlreclor. for use of
unlt. The balanca due in respect ofthls at 31 March 2023 was £NIL {2022- £NIL).
Included within legal and professional f8es is an amount totalllng £4812022 - £96) paid to Rlada Resourcing
which is owned by Mrs Frances Lundy, director. The balance du8 In respect of thls at 31 March 2023 was
£NIL (2022 _ £NIL).
Included within rent and rates is an amount totalling £39,000 (2022 - £39.0001 paid to Acorn The Business
Centre, a company under common control, The balance in respect of this at 31 March 2023 and included In
Ir8de creditors was £3,900 (2022- £3,900).
25-

ENTERPRISE CAUSEWAY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
26 Cash generated frorn operations
2023
2022
Surplus for the year
280,152
130.606
Adlustmenls for:
Investment income recognised in statement of financlal activilles
Oepreciation and impairment of tangible fixed assets
{5631
105,304
(25)
101.128
Movements In working capllal..
Ilncrease) In stocks
{Increase} in debtors
Increasel{decr6ase) In creditors
{4,820)
(62.6501
117,925
(5.352)
(36,790)
{46.008)
Cash generatsd from operations
435,348
143,S59
26 Analysls of Ghang&$ In net Idebtllfunds
At 1 Aprll 2022
Cash flow8At 31 March 2023
Cash al bank and in hand
Bank overdrafts
231,792
(23,336)
(5,969)
208,456
15,9891
231,792
(29,3051
202,487
Loans falling du8 wllhln one year
Loans falling due after more than one year
Obllgations und&r finance leases
(66,718)
{394,965)
128,251)
(9,364)
59,276
18,212
176,0821
{335,6891
(10,0391
(258,142)
38,819
1219,3231
-26-