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2025-03-30-accounts

FINANCIAL STATCMCNTS NEWRY AKD MOURNE CO-OPEIL4TtVE LIMITED REGISTERED NUMBER . N120058 The Directors present their report aT]d accounts for the year ended 31 st March 2025. The Company had a turnover of £1,033,753 during the year and produced a loss of £14,268. The members, loan ¢apital within the company is £35,179. Principal Activities The company's principal activity during the year continued to be the letting of business units at WIN Business Park and W￿TenpOInt Enterprise Centr¢, togeth¢r with the development of new business and employment in the local area. The company obtalned charitable sta￿S from HM Revenue & Customs to reflect the activities and mission oethe ¢ompany. This was approved on 19th April 2010. The company Iw also obtained succe5sfvI registration with the newly fornied Charity Commission for Northem. Ireland. This became effective I st April 2016, registrdtion number 102246. Directors The following persons served as dire¢tors during th¢ year: John Macmahon Da￿Y Hyland Peier McEvoy Kevin Magill Kevin Starrs Konan Denmedy Michael Hughes Brendan Jackson Disclosure of information to auditors Each person who was a director at the time this report was approv¢d confjmis that: - so far as they are aware, there is no relevant audit infomation of which the company's auditor is unaware" and - they have taken all the steps that they ought to have taken as a director in ordeT to make themselve5 aware of any relevant audit inforn]ation and to estsblish that the company's auditor is aware of that Infom￿tIOrt. Sm211 company provisions This report has been prepared in accordance with the provisions in Part 15 of the Compantes Act 2006 applicable to companie5 subject to the small companies regime. This report was approved by the board on 15th December 2025 and sign¢d on its behalf.. /fv,J/ 41 Michael Hughes Director AEHP3Y8H 18112f2025 . COMPANIES HOUSE A08

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EWRY & MOIIRIYE CO.OPERATIVE LJTrttTED STATETrtENf OF DIRECTORS, RESPONSIBILITLES The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations. Company law requires the directors to prepare accounts for each fmancial year. Under that law the directors have elected to prepare the accounts in accordance with United Kingdorn Generally Acoepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to . select suitable accounting poli¢ies and then apply them consistently" make judgements and estimates that are reasonable and prudent. prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will ￿ntinue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable.steps for the prevention and detection of fraud and other irregularities.

NEWRY & MOURNE CO-OPERAT￿￿ LIIWllTED PROF￿ & LOSS ACCOUNT for the year ended 31st March 2025 Notes 2025 2024 Turnover 1.033,753 1.019,720 Gross Profit Administrative Expenses Other Profit before Exceptional Items 1,033,753 (1,062,353) (28,600) 1,019,720 (1,043,330) (23,610) Exceptional Items: Charitabl¢ Donations Received 30,000 40,000 Operating Profit after Exceptional Items Interest Payable 1,400 (12,623) 16,390 (15.020) Profit on Ord Activities before Tax T&xation (11,223) 1.370 Retained Profit for Year (11,223) 1,370 The company had no recognised gains or losses for th¢ year other than the profit stated above.

NEWRY & MOURNE CINOPERATtVE LIMITED BALANCE SHEET As at3lstma￿h 2025 Notes 2025 2(124 FIXED ASSETS Tangible Assets Inv¢stsnenTS 3,082,204 37.820 3,120,024 3.186.864 37.820 3,224,684 CUBJENT ASSETS DebtOTS Big Lottery Work4U Bank Account C￿h at Bank and in Hand 357,482 25,463 237.598 620.543 393,884 16,136 236,740 646,760 CURRENT LIABfLITIES. CREDITORS Du¢ Within One Year CurrentAssetsl(Liabilitic5) TO￿ Assets Legs Current Liabilitie5 CREDITORS Du¢ aft¢r One Yèar 13 (294,677) 325,866 3.445.890 1180.975) (282,158) 364.602 3.589.286 (244.173) 14 NrfASSETS 3,264,915 3.345.113 CAPITAL AND B£SERVES MemEtrLoan Capitsl Capital Reseryc Profit & Loss Aeeount 35.179 1319.448 910,288 3.264.915 35,143 2J88,459 921,511 3.345.113 15 15 The accounts have been prepared and delivered in a¢cordance with the special provisions applicable to companies subject to the srnall companies regim¢. John M4cMahon. Dir¢ctor Approved by the Board on 15th Deeernber 2025

NEWRY & MOURNE CO-OPERATIVE LIMITED CONSOLIDATED PROFIT & LOSS ACCOUNT for the year ended 31st March 2025 Notes 2025 2024 Turnover 1,033,753 1,019,720 Gross Profit Administrative Expenses Other Profit before Exceptional Items 1,033,753 (1,065.398) (31,645) 1,019,720 (1,046.375) (26,655) Exceptional Items: Charitable Donations Received 30,000 40,000 Operating Profit after Exceptional Items In*rest Payable (1,645) (12,623) 13,345 (15,020) Loss on Ord Activities before Tax Taxation (14,268) (1.675) Loss on Ord Activities after Taxation Minority Interest (14,268) (1,675) Retained Lossattributable to Members (14,268) (1,675) The group had no recognised gains or losses for the year other than the loss stated above.

NEWRY & MOURNE CO-OPEIL4TIVE LIMITED CONSOLIDATED BALANCE SHEET As at 31st March 2025 Nfjtes 2025 2024 FIXED ASSETS Tangible Assets Inv¢stsnents 3,096.439 2,100 3,098,539 3,203,868 2.100 3.205,968 CURJiENT ASSETS Debtors Big Lottery Work4U Bank Account Cash at Bth and 17) Hand li 12 285,028 25,463 237,936 548,427 321,705 16,136 237,079 574,920 CURRENT LL4BILITIES- CREDITORS Due Within One Year 13 (294.716) 1282,197) Net Current Assetsl(Liabilili¢s) 253.711 292.723 Total Asscts Less Current Liabilities 3,352250 3.498.691 CREDITORS Due after One Year 14 (180.975) (244,173) NET ASSETS 3.171.275 3,254,518 CAPITAL AND RESERVES MemE¢r LA)an Capital Capiial Rcserv Profit & Loss A¢¢ount 35.179 2,329,448 806,648 3.171,275 35,143 2,398.459 820.916 3.254,518 15 15 Minority Intertst 3,.l71,275 3254,518 Th¢ a¢¢ounts have been PreP￿ed and d¢livered in accordance with th¢ specia] provisions applicable to omponie5 subject to the small companies rcgime. Jokn Macmahon, Director Approved by the Board on 15th Deccmber 2025

NEWRY & MOURNE CO-OPERATtVE LIMITED Y40TES ON AND FORMING PART OF THE FINANCIAL STATEMENTS for the year ended 31st March 202S I. ACCOUNTING POLICIES Basis of Preparation The accounts have been prepared under the historical Gost ¢onvention and in accordance with FRS102, The Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (as applied to small entities by section IA of the Standard). Turnover Consolidated turnover represents external sale5, rents and revenue grants for government schemes operated by the group. Depreciation Depreciation has been provided on all fixed assets at rates calculated to write them off evenly over the expected useful and working lives. Capitsl Grants Grants in respect of capita] expenditure have been credited to a Capital Reserve and an amount equivalent to the annual depreciation on the relevant assets has been released to the Profit and Loss Account. Debtors Short term debtors are measured at transaction price (which 15 Usually the invoice price). les5 any impaiment losses for bad and doubrful debts. Creditors Short teTm creditors are measured at transaction price (which is usually the invoice price). Loans and other financlal liabilities are initially recognized at transaction price net of any transaction costs and subsequently measured at amortised cost detemined using the effective interest method. 2. BASIS OF CONSOLIDATION The consolidated Profit and Loss Account and Balance Sheet include the Assets, Liabilities and Trading results of the Company and its subsidiary as defined in the Companies Act 2006. The Subsidiary company at 31 st March 2025 is as follows:. Newry and Mourne Developments Ltd

  1. INTEREST PAYABLE GROLrp 2025 2024 CO￿[PANy 2025 2024 On Bank Loans, Overdrafts and other loans
  2. Repayable within 5 years by installments
  3. Repayable wholly or partly in more than 5 years 4,418 8205 12,623 5.257 9,763 15,020 4,418 8205 12.623 5257 9,763 15,020

  4. PROFITI(LOSS) ON ORDINARY ACTIvrrtES GROUP 2025 2024 coThtPANY 2025 2024 Profitl(loss) on ordinary activities before tsxation is ststed after charginpJreceiving= Charitsble Donations Depreciation Auditor5 Remuneration (30,000) (40,000) 119.579 120,173 5,500 S,500 (30,000) 116,809 5225 (40,000) 117,403 5225 S. DIRECTORS AND EMPLOYEES GROUP 2025 2024 COTrTrANY 2025 2024 STAFF COSTS Wages & Salaries Social Security Costs Other Pension Costs 436,684 39.698 71,821 548203 426,041 38,731 71,261 536.033 436,684 39.698 71,821 548,203 426,041 38,731 71,261 536,033 The average number of persons employed by the cornpany 12 12 & TAXATION 2025 2024 The tsx charge on the profitl(loss) for the year was as follows: Corporation tsx payable on th¢ adjusted results for the year Adjustment to previous year The company obtained charitable status on 19th April 2010 and is exempt from Corporation Tax from that date.

  5. TANGIBLE FIXED ASSETS Land & Buildings Fixtures & Equipment Total GROUP SCHEDULE COST SCHEDULE At l April 2024 Additions Disposals At 31 March 2025 6,112,611 12,l50 5.794,820 ,790 317.791 3.360 6,124,761 5,803,610 321,151 DEPRECIATION SCHEDULE At l April 2024 ch￿ge for Year Disposals At 31 March 2025 2.908,743 119,579 2,640,185 113,265 268,558 6.314 3,028,322 2,753,450 274,872 NET BOOK VALUE 31 st March 2025 3,096,439 3,050,160 46,279 3 1st March 2024 3203,868 3,154,635 49,233 The Net Book Value at 31 st March 2025 of the holding Company's fixed assets included are above are as follows: 46,280 3,082204 3,035,924

  6. INVESTMENfs IN SUBS￿lARy & ASSOCIATED COMPANY The following amounts are included in the holding Company Balance Sheet Par Value Share of Ownership Cost Newry & Mourne D¢velopments Ltd Oriel Developments Ltd Binnian Developments Ltd 35,720 100 2,000 45,720 NIA NIA 78 50 50 Oriel Dcvelopments Ltd is a company limited by guarantee in whi¢h Newry and Mourn¢ Co-operative Limited shares equal ownership with Co. Annagh Development TrusL The net assets of the Company at the last balance sheet date were stated at £l.152,955. Binnian Developments Ltd is a company Itmited by guarantee in which Newry and Moume Co-operative Limited shares equal ovmership with Kilkeel Development Association Ltd. The net assets of the company at the last balance 5h¢et date were stated at £150.087.

  7. CAPITAL Comm￿MENTs The company did not have any ¢apitsl commitments as at 31 st March 2025 not already provided for in the accounts.

  8. CONTINGENT LIABILITIES A Contingent liability exists to repay gTants to Invest NI and IFI in the event of the company ceasing to operate as an Enterprise Agency or failing to honour undertakings specified in the relevant a8re¢ments. I I. DEBTORS- (Due within one year) GROUP 2025 2024 coTrtPANY 2025 2024 Trade Debtors Amount due from Subsidiary Due from Associated Company Other Debtors 28i,933 320,626 283,932 72,507 320,625 72232 1,095 285,028 1,079 321,705 1,043 357,482 1,027 393,884
  9. CASH AT BANK The Work 4U Plus Bank Account is a separate designated bank account for the Work 4U Plus Programme funded by the Big Lottery Fund. These monies are held as restri¢ted fijnds and only used for the purposes oe delivering the Work4U Plus programme. During the financial year there were transfers re¢eived into this account from the Big Lottery Fund totslling £106,476. The balance on hand on this deSi￿at¢d account at 3 1st March 2025 was £25,463.
  10. CREDITORS- IDue withiD one yeor) GROUP 2025 2024 COIViPANY 202S 2024 Bank Loan & Overdraft Creditors & Accruals T&xation & Social Security 74,452 176,695 43,569 74,452 l54.370 53,375 74,452 176,656 43.569 74,452 154,331 53,375 294,716 282,197 294,677 282,158
  11. CREDTTORS- (Due #fter more thaD one year) GROUP 2025 COMPANY 2025 2024 2024 Bank LK)8ns & Overdrafts 180,975 244,173 180,975 244,173 10

A102n of £300,000 was taken out with Nevry Credit Union Ltd in July 2018 with a repayment period of ten years. A further loan of £150,000 was taken out with Newry Credit Union Ltd in August 2022. The security held by Ne￿Y Credit Union Ltd ¢onsists of a first legal charge over the company's leasehold business units at Warrenpoint Enterprise Centre, Newry Road. Warrenpoinl Co. DoMTr. This loan repla¢ed all previous business loans with U15ter Bank Ltd who relinquished all forms of security held by that bank previously. 15. RESERVES GROUP CAPITAL PROFIT & RESERVE LOSS AIC COMPANY CAPITAL PROFIT RESERVE LOSS AIC At 1st April 2024 Retsined ProfiU(Loss) for the Year Minority Interest Repaid Amortisation of Grant Grant Receivable 2,398,459 820,9I6 (14,268) 2,388,459 921,511 (11,223) (69,011) (69.011) At 31 st March 2025 2,329,448 806,648 2,319.448 910,288 The Capital Reserve in the Company Balance SheeL consists of Government Grants received as explained in note l{iii). An additional capitsl reserve arises on consolidation of the purchase by the ¢ompany of 25,000 £1 'B' Share5 in Newry and Mourne Developments Ltd at a price of £15,000, in 1986. 16. DEFERRED TAX Deferred tsx is not applicable as the company obtsined Gharitable status with effect from 19 April 2010.