Private and Confidential ## **Newry & Mourne Cooperative Limited** # **Annual Report and Statement of Accounts to the Charity Commission Northern Ireland** ## **Year ended 31[st] March 2024** Newry & Mourne Cooperative Limited Page 1 Private and Confidential |**Contents**|**Pages**| |---|---| |**Directors Report and Statement of Accounts**|| |1. Reference and administration details|3| |2. Objectives and activity of the charity|4 – 5| |3. Structure, Governance and management of the Charity|7| |4. Financial Review|7 – 8| |5. Future objectives and Vision|8| |6. Independent Examiner’s Report|9| |7. Statement of Accounts for the year ended 31stMarch 2021|10 – 12| |8. Trustees Approval|13| Newry & Mourne Cooperative Limited Page 2 Private and Confidential ## **Newry & Mourne Cooperative Limited** ## **Registered Company number: NI020058** ## **Director’s Annual Report for the year ended 31[st] March 2024** The directors present their Reports and Accounts for the year ended 31[st] March 2024 which also comprise the Directors Report ## **Reference and Administrative details** ## _**The Charity Name**_ The legal number of the charity is – Newry and Mourne Cooperative Limited _**The charity’s area of operation and UK Charitable registration**_ The charity operates in Northern Ireland only is registered with the Charity Commission NI, registration number 102246 ## _**Legal Structure of the charity**_ Newry and Mourne Cooperative Limited is a company limited by guarantee ## _**The principal operating address, telephone number and email for the charity**_ Enterprise House WIN Business Park Canal Quay Newry Co Down BT35 6PH ## _**The directors in office on the date the report was approved**_ John MacMahon Kevin Starrs Ronan Dennedy Michael Hughes Davy Hyland Brendan Jackson Kevin Magill Peter McEvoy Claire McCullough Gordon Coulter Frank O’Connor Newry & Mourne Cooperative Limited Page 3 Private and Confidential ## **Newry and Mourne Cooperative Limited** ## **Registered Company number: NI020058** ## **Director’s Annual Report for the year ended 31[st] March 2024** The directors who served as Directors in the reporting period were shown as above. ## **Objectives and Activities of the Charity** ## _**The purpose of the charity as set out in its governing document**_ Newry & Mourne Co-operative offers a variety of industrial and office units for rent on favourable terms at the main WIN Business Park and in Business Parks located in Warrenpoint, Flurrybridge, Kilkeel and Forkhill. A range of Office Services can be provided to both businesses and community and voluntary organisations and number of conference, meeting and training rooms are available for hire. Advisory support for the unemployed, young prospective entrepreneurs and SMEs is also available. The Co-operative offers a range of business start-up, business growth and innovation programmes, including Business Start-up, Exploring Enterprise, Business Growth, the Social Entrepreneurship Programme and the EU Leonardo and Erasmus Plus transnational SME and Higher Education Innovation and Employability Alliance Programmes. These programmes are supplemented by business clinics, advice and mentoring, assistance with work placements and opportunities to network with other business owners. The Co-operative also manages two programmes – Work4Uplus and Education to Employment – for young people who endure adversity in their lives and are considered ‘at risk’ of becoming disengaged from education, employment and training. The Co-operative contributes to policy development at both central and local government level and sponsors activities organised by partner community associations and other NGOs. ## _**The main activities undertaken in relation to those purposes during the year**_ The overriding objective of Newry and Mourne Cooperative Limited is to work for the benefit of the local community. The company provides both programmes and quality facilities for the use of all sections of society from Pre-school, school age, young adults, pensioners, the business community, Social economy sector and those involved in the arts sector. Current Programmes and users of the facility include:- 1. Social Economy Programme – This programme works with a diverse range of groups within the social economy sector. It provides a range of business support and assistance to enable community groups to become more self-sustaining and commercial aware. Many of the groups on the programme are themselves working with children, pensioners, those suffering from depression or mental health issues. Some of the groups will also use the rooms such as Centred Soul, TinyLife and the Recovery College. 2. Education to Employment programme – This progamme works with local Primary and secondary schools in the Neighbourhood Renewal area. It provides computer programme skills, careers fairs and work placements for pupils to held inform their decisions on a future career. 3. Work4U Plus programme – This programme works with school aged children who are experiencing difficulties in mainstream education or have been excluded from school. The programme works in conjunction with the schools to offer the participants opportunities to Newry & Mourne Cooperative Limited Page 4 Private and Confidential explore different jobs, self-employment and volunteering through a range of events and sessions. External Groups using the facilities at WIN Business Park 4. The Ark Project – This is a project that works with people with special needs and they meet at WIN Business Park on a weekly based to provide activities and offer some respite to parents. 5. Newry Feis Committee – The voluntary Feis committee plan and delivery one of the most successful festivals in Ireland and they use the facilities for their regular planning events and committee meetings. The feis involves people of all ages and abilities involved in speech & drama, music and dance. 6. Newry & District Anglers Association – The voluntary association meet on a regular basis as a committee to oversee the management of local lakes and the issuing of licences. 7. Neighbourhood Renewal Groups – The community associations in the Newry Neighbourhood area make use of the rooms for a varied of purposes to support their communities. These activities are aimed at young people, women and pensioners and three groups, namely Barcroft Community Association, Ballybot Community Association and the Greater Linenhall Community Association are regular users of the facilities. Newry & Mourne Cooperative Limited Page 5 Private and Confidential ## **Newry and Mourne Cooperative Limited** ## **Registered Company number: NI020058** ## **Director’s Annual Report for the year ended 31[st] March 2024** _**The main activities undertaken during the year to further the charity’s purpose for the public benefit**_ (i) The creation of employment, training and work experience opportunities for residents living in economically and socially deprived areas and consequently a reduction in unemployment and financial hardship, leading to a better quality of life for the beneficiaries and consequent improvements in health and well-being. (ii) Enhanced knowledge about setting up and running small businesses and social enterprises resulting in increased levels of self-employment and better prospects of sustainable development. (iii) Increased levels of knowledge and transferable vocational skills among employees / work experience trainees, assisting in the creation of a more educated, skilled and qualified community. (iv) A greater sense among the beneficiaries of more fulfilled and purposeful lives, resulting in a safer, more stable and cohesive community. (v) Increased potential for innovation and progress, creating a more dynamic and prosperous society. (vi) Improved social and environmental conditions as a result of community renewal and regeneration activities leading to a better quality of life for the inhabitants. The beneficiaries are the general public. These benefits can be evidenced in records kept internally and by public sector agencies of the number of jobs and work experience opportunities created and the numbers of those who have successfully completed training courses. Evidence can also be found in internal and independent evaluations of the activities and impact of the work of the Co-operative, community surveys of living standards and attitudes and feedback from the beneficiaries and from the community and voluntary organisations that have been assisted. Some private benefit is obtained by the owners of small businesses who rent units on favourable terms, but this is ancillary to the main purpose and is greatly outweighed by the gains in public benefit. No harm arises from these purposes. ## _**Resources used in the activities undertaken during the year**_ All the programmes undertaken during the year were delivered from WIN Business Park in Newry ## _**The main achievements and performance of the charity during the year.**_ - Increased participation on all programmes - Increased links with local schools - New user groups using WIN Business Park - High level of satisfaction with the facilities available ## _**Breakdown of those the charity has helped**_ - Social Economy Programme 36 organisations and 125 individuals - • Education to Employment 6 local schools and 800+ pupils • Work4UPlus 57 participants • Neighbourhood Renewal groups 14 community groups • New Start-up businesses 151 individuals becoming self employed • Voluntary organisations 27 voluntary organisations using the facilities Newry & Mourne Cooperative Limited Page 6 Private and Confidential **Newry and Mourne Cooperative Limited** ## **Registered Company number: NI020058** **Director’s Annual Report for the year ended 31[st] March 2024** ## _**The degree to which the achievements and performances during the year have benefited wider society**_ Newry and Mourne Cooperative Limited has actively engaged with over 1,000 participants over the last year. The company has also promoted a collaborative approach and have worked with the following bodies - Newry, Mourne and Down Council - Enterprise Northern Ireland - Invest NI - Down Business Centre - Department of the Communities - Local schools - Newry Chamber of Commence - PSNI Newry ## **Structure, Governance and management of the Charity** The charity is managed by a Board of voluntary Directors who are invited onto the Board due to their unique range of skills and expertise. Annually an audit is carried out of the skills mix and gaps are identified. Newry & Mourne Cooperative is managed by a full-time Executive team who report to the Board on a bi-monthly basis via the Board meeting both in person and via written reports as required. A full financial report is submitted at each meeting. _**The charity’s relationship with related parties**_ Bankers Ulster Bank Limited Hill Street Newry Solicitor DND Law Solicitors Newry ## **Financial Review** _**The charity’s financial position at the year ended 31[st] March 2024**_ |_Net Income_
_Unrestricted Income available_
_For general purposes of the charity_
_Restricted Income_
_Total Income_|**_2024 £_**
_£1,370_
_£960,471_
_£59,249_
_£1019,720_|**_2023 £_**
_£31,742_
_£994,829_
_£58,871_
_£1,033,700_| |---|---|---| Newry & Mourne Cooperative Limited Page 7 Private and Confidential ## **Newry and Mourne Cooperative Limited** ## **Registered Company number: NI020058** **Director’s Annual Report for the year ended 31[st] March 2024** ## _**Financial review of the position at the reporting date, 31[st] March 2024**_ The directors consider the financial performance by the charity during the year to have been satisfactory and note the challenges ahead in the coming year which will require careful management and consideration. ## _**Policies on reserves**_ The directors consider it is important to retain strong reserves to allow the charity to operate in a consistently changing and difficult environment. As present the company is content with the level of reserves held. The company will endeavour to retain the equivalent of 6 months of its total income as available reserves. This allows for the late receipt of monies from funders and also the loss of current users of the facilities. The reserves policy is regularly reviewed by the directors to assess the factors which are likely to have an effect on reserves ## _**Availability and adequacy of Assets**_ The Board of directors are satisfied that the charity’s assets are adequate to fulfil its obligations ## **Future Objectives and Vision** ## _**Short term objectives 2024/25**_ - Secure addition programme activity to retain the current staffing levels - Meet the expectations of the Funders in relation to outputs and budgetary spend - • Continue to promote the facilities at WIN Business Park to the local community - Review the current threats and opportunities which exist for the company ## _**Company Vision**_ The vision is to create local employment and help those interested to become self-employed to develop their entrepreneurial talent which will in turn reduce poverty, promote better health and well being and encourage all ages to value the local community and area. ## _**Company Values**_ The values that underpin the work of Newry & Mourne Cooperative Limited are: - Making a difference and having an impact within the local community - Delivering a high standard professional service for all participants on our programmes or using our facilities. - Strong commitment to customers, employee and the entire local community - Seeking better and more innovative ways to serve the local community Newry & Mourne Cooperative Limited Page 8 Private and Confidential **----- Start of picture text -----**
This report was approved by the Trustees on
Date: 31 [st] January 2025
Signature of Trustees.
Trustee 1: ________________________________________
Date:__31 [st] January 2025 ___________________________
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