KILREA ENTERPRISE GROUP LIMITED TRUSTEES REPORT {INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 The tmstees present their annual report and financial stalements for the year ended 31 March 2023. The financial stalements have been prepared in accordan wilh the accounting policies set out in note 1 to the financial statements and comply with th8 charity's Memorandum and Artides of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republi¢ of Ireland (FRS 102} (effedlve 1 January 2019}". Ob]ectlves and actlvltles The charity's objects are to promote the ben8flt of the inhabitants of Kilr6a and its envlrons (the "area of ben6fit') Wtthout distinction of sex, race or political, rellgious or other opinions by associating with the statutory authortiie5, voluntary organisations and Inhabitants In a comtllon effort to: (l) advance education (ill provide facilities in the Intere51s of social welfare for recreation and olher lelsur8 tlme occupattons wilh the object of improving th8 condllions of life for the said inhabstanls.. and (iii) provlde such amenlti8s and lacililies for the benefit of th8 publlc in particular bLrt not excluslvely rfver walks, wild flower meadows and tree planting. The trustees have paid due regard to guidance issued by Ihe Charity Commission in deciding what activlties the chadty should undertake. Providin facilltles in lh8 Interests of social welfare for recreation and l&lsur8 OCCU We provlde funding to local groups and initiatives and we have also made land available to our local councll to create a river walkway. The public benefil is improved health and well-being for all who us8 it. It also creates opportunities for employment as access lo the rivor increases the opportunity for sport and leisure activities. which in tum will create employment for local people who are at risk of unemployment and d8prFvation through nJral18olation and distance from services. aOn8 Providin amenities and facilities for the benefti of the The public benefit is improved heallh and w811-being and the promotion of positive and physical health Ihrough the development and support of walking Irail and access to the countryside to those of our beneficiaries who are in poor health or disability. Th8re is a public benefit which flows from our charitablo objec& as we increase employ ability and ensure that our area is an attractive and well managed place to live and that local people can acquire the education and skills Ihey need to fulfil their true potential and enjoy positive health and well-bein9 as a re5uIt. ublic We are an open organisalion welcoming people of all ages and from all b8ckgrounds who are interested in volunteering with us. Our beneficiaries are the members of Ihe public who are rural dwellers of all ages from the local atea. They are also our volunteers who can gain skills and confidence while providing of their time and expertise. How we prove our benefit is through record keeping of feedback from those who atiend our inili81ives a5 well as those who volunteer in our variou5 activities and attend our events. We provide new5Ietters and tlyers, ulilise the local press for publicity and take photographs and also collect monitoring information when we access public funds for Dur activities. There is no private benefit accrued to any of oui trustees a5 everyone is treated the same and has equal access to all of our support and services.
KILREA ENTERPRISE GROUP LIMITED TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 Financial review The results for the year are set out on page 5. The company retumed net expenditure for the year of £32.973 {2022 - net inwme of £26,527}. At 31st March 2023 the totsl funds of the charsty amounted to £766,13812022 - £799,111) comprised solely of general unrestrlcted fvnds. Risk Management The Twslees regularly assess the major risks to whlch th8 Charlty is exposed, and are satisfied that systeTns are in place to rnitigate exposure to any major risks. Plans for future periods The Kilrea Enterprise Group will help to fvnd suitable local start up businesses that fulfil relevant cliteria for sustainability and employment. using the interest generated by capital, wtth a view to keeping the capital intsct. Structure, govemanrR and rnanagement The charity is a company limited by guarantee. The principal activity of the company is to promote the establishment of small business activities which would provide employment in the area. The trustees, who are also Ihe directots forthe purpose of company law. and tho served during the year and up to the dale of signature of the financial staternents we. MrThomas Collins MBE Ms Mary Gibson Mr David Laughlin None of the trustees has any beneficial interest in the company. All of the trusiees are members of the company and guarantee to contribute £1 in the event of a winding up. Kilrea Enterprfse Group Limited is govemed by its Memorandum and Articles of Association dated 5 Febwary 1991. It registered wtth the Charity Commission for Northem Ireland on 30 June 2015. The trustees report was approved by the Board of Trustees. Mr David Laughlin Trustee Dated: 13 March 2024