COMPANY REGISTRATION NUMBER: N1605197
CHARif( REGISTRATION NUMBER: NIC102489
Development Trusts (Nl) Limited
Company Limited by Guarantee
Financial Statements
31 March 2023

Development Trusts (Nl) Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2023
Page
Truslees, annual report (incorporating the directo¢s report)
Independent auditorfs report to the members
Staternent of financial activities (including income and
expenditure account)
Statemenl of financial position
10
14
15
Notes to the financial statements
16

Page 1
Development Trusts (Nl) Limited
Company Limited by Guarantee
Trustees, Annual Report {Incorporating the Directorfs Report)
Year ended 31 March 2023
The twstees. who are also the diredors for the purposes of company law. present Iheir report and the
financial slatements of the charity for the year ended 31 March 2023.
Reference and adminislrative detslls
Registered charty name
Development Trusts (Nl) Limiled
Charity registration number
NIC102489
Company registration number N1605197
Princlpal office and registered Cathedral Quarter Managed Work Space
offJGe
109-113 Royal Avenue
Belfast
BT1 1FF
The trustees
Mr S Mcclelland
Ms E Murphy
Ms M Patterson
Mr J Meehan
Mr B O'Neill
Mr L O'Hagan
Mr F mcA1￿keY
Mr S Vvhelehan
Mrs J McDonald
Mr N Kinnaird
Mr A Tough
Mr E MGGoldrick
{Retired 19 October 2022}
(Appointed 19 October 2022)
(Retired 19 October 2022)
(Appornted 27 October 2022)
(Appointed 19 October 2022)
(Appotnted 19 October 2022)
Auditor
Johnston G￿harn Limited
Chartered accountants & statutory auditor
2161218 Holywood Road
Belfast
BT4 1PD

Page 2
Development Trusts (Nl) Limited
Company Llmited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (¢ontlnue
Year ended 31 March 2023
Structure. 9overnanGe and management
DTNI is in¢orporaled urKler the Companies Act 2006 as a private company lirrited by guarantee. The
Board of Directors are Andy Tough (Chair). Margaret Patterson Mcmahon ITreasurer). Brian O'Neill
(Secretary), John Meehan. Nigel Kinnaird. Stephen McCleNand. Liam O'Hagan, Janice MGDonakl,
Eddie McGoldriGk and Fintan McAliskey.
The Board meets frmally quarterly fulfilling its governance responsibilities with a particular f¢XUS on
FiTrance and HR and with oversighl of the operational ser¥ices of the organisation. The board has a
policy of continual review of objectives to ensure Compliance with governance and proper operation of
the organisation.
The Chief Executive off￿er oversees the organisations strategic priorities and operaiional otieclives.
DTNI ￿MPlIeS wtth ils legal and governance obligations and assess operational risks and mitigates
for these lo the extent reasonably possible.

Page 3
Development Trusts (Nl) Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (coftllnueo)
Year ended 31 March 2023
Objectlves and activlti¢s
Misslon
DTNI is a membership or9anisation cornmitted to supporting the development of suslainable
assel-owning communities creating shared public benefit.
Vision
Our vision is of a participalive democracy rnade up of vibrant self-reliant communities across Northern
Ireland making a positive difference lo people's lives through owning and developing sustainable
assets and resources.
Values
Muiuality
Society, communities, and Ihe organisation a￿ stronger when we share knowledge and skills and
work together in solidarity with each other rather than compete.
Accountability
The organisation should be fully accountable and transparent to its members and lunders for vAiat it
. does.
Participative democracy
Demccracy is stronger where ordinary people organise together in communty-based organisations.
build their assels and resources. and actively and regularly contribute to decisions that affecl Iheir
live5.
Social and economic justice
A fair and equitable society is a healthier and happier one.
Integrity
It is important to build trust between people by 8Cting lo the highest standards ot professionalism and
integrity.
Independence
The organisation should provide an independent voice in promoting its mission and values,
Priorities
DTNI represents the interests of community developmenl trusts, associations and social enterprise
agencies that make up the Development Trust Ne￿ork in Northern Ireland (Nl). It provides
development support, advice, expertise and experience to comrnunities and the public sector to
promote the sustainable community development and to advance the socially productive use of land
and property assets, focussing on.
Cornmunity Asset Transfer
Support communities to identify opportunities. unlock strengths and resources through the ownership
of communty assets.
Comrnunity Wealth Building and Wellbeing Economy
Support communities to be inclusive, enterprising. promote wellbeing economy and have a
meaningful Voice.
Influencing Decision-making
To influence public policy and praclice. in partnership with members. in support of unlocking the
strengths and resources in communities. to build wealth, well-being and shape decisions that affect
them.

Page 4
Development Trusts (Nl) Limited
Company Llmited by Guarantee
Trustees, Annual Report (Incorporating the Directorfs Report) (¢ontinuedJ
Year ended 31 March 2023
Knowledge leadership
To be a leading learning organisation. which is a valued source of expertise that uses research and
evaluation lo expand knowledge in the sector and contifiuousty improves its work.
Membership
To develop the rnembership of DTNI and provide effectNe support to members.
Communications
To effectively promote the organisalion and comrnunicate with all its stakeholders.
Programme5
Prioritie5 are upheld through the defivery of programme activities including:
Community Asset Transfer (CAT) - Awareness raising. advocacy for voluntary. community and
social enterprise acquisition management and ownership of surplus public land and property
assets.
Community Weatth Building (CWB) - Awareness raising and promotion of CiNB wth a focus on
stren9lhening local economic development practice. sttalegically enga9in9. and working With
development trusts lo deliver the priorities for a wealth generating economy ihat addresses
poverty, deprivation & marginalisation.
Comrnunity Right5 - Awarene55 raising, facilitation of community dialogue and political advocacy
for the inlroduction of a community rights act in Northern Ireland that considers the legislative
changes needed within planning law.
Civic Participation - Working in partnership with social and public stakeholders to enhance civic
participation and decision making across local government to strengthen ¢ommunity VOiGe in
local economic development and participative democracy.

Page 5
Development Trusts (Nl) Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report> (con￿nued)
Year ended 31 March 2023
Achievements and perfomiance
Established in 2010 DTNI has a modest membership of approximately 100 communty development
trusts, associations, and social enterprise agencies. During the current period. we have:
Maintained a board of high reputation and skill.
Represenled our members interests through networf<ing learntng and sharing events,
conferences. and information webinats.
Represented our members interests on the acquisition. managemenl. and ownership of assels to
the Nl Executive, central and local government.
Advocated for an Nl capital development revenue investment fund.
Supported Ihe Department for Communities lo advance its policy interest and programme
objective5 for Ctjnmunity Asset Transfer and Community Weafth Building.
Supported the inlerest of VCSE organisations to pursue opportunities to aGquiTe public 5ecior
assels under the Nl Executive Communty Asset Transfer policy framework.
Promoted and facilitated VCSE application to the Department for Levelling Up. Housing and
Levelling Up programme funds.
Promoted the interest of VCSE organisations to draw frorn a UK Communty Ownership Fund.
Represented the interests of members through participation on the Nl Joint Forum.
Represented the interests of members across the UK through joint work with the Development
Trust Association networks in England. Scotland. and Wales.
Represented the interests of members globally through our membership of the International
Federation of Societies and in Europe through our work with the European Federation of
Societies.
Developed the policy agenda in support of conynunty ownership. community rights and local
econorny.
Worked continuously to improve our reputation and to grow our membership.
For the reporting period 12022-23) DTNI employed a Chief Executive Officer, hvo Senior Programme
Coordinators, an Administration and Communications Officer and a Di9ilal Innovation Offi￿r. DTNI
employees oversee the delivery of contracl objectives in support of Community Asset Transfer (CAT)
and Communty Wealth Building (CWB) for the Departmenl for Communities {DfC) and Community
Rights and CWB (local Government) supported by Joseph Rownlree Clraritable Trust and the Rank
Foundation programme 'Start Here,.
We concluded work on local ewnomy earty in the financial year for Friends Provident and on Civic
Participation supported by the Community Foundation for Northem Ireland.
We tendered for and succes5fulty delNered the Support Network for Social Entrepreneurs (SUNSE
Interreg NW Europe) for Lisbum & Castlereagh Cty Council.
We Continued to provide development support lo voluntary. community organisations from across Nl
with an interest in acquiring and managing and developing an asset base including promotion of ils

Pagt 6
Development Trusts (Nl) Limited
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directorfs Report) (¢onllnueo)
Year ended 31 March 2023
position within the internal 'public sectorf rnark￿ and advanced its inlefest in Ihe ownership and
management of surplus public assets.
We engaged extensively with our sister nelw<Yks in the UK to prepare a tender proposal to the
Community Ownership Fund. We learned late in the financial year Ihat our tender was successful and
DTNI would be the lead development support provKfer in N( from 2023125.
For several years we have been the lead'advocate for the econornic development functions of our
members and their collective contribution to the ewn¢)mic affairs of Nl. In the year 2022123 we
concluded our contract with the Departmenl for Communities {DfC) on Cornmunty Weallh Building.
We had engaged extensively with the VCSE sector and working with Queens Cornrnunities & Place
programme at Queens University Bewast we prepared five key publications on ¢¢mmunity weamh
building (see below) and an executive summary "Next Ste
s in Communi
Weafth Buildi
We also worf(ed as the secretariat for the Dfc independent Mintsterial Advisory Panel on Cornmunty
Wealth Buildin9. The panel presented its report, 'Recommendations to advance communi
wealth
buildin
in Northern Ire12nd' to the Minister at Dfc.
1. Asset Based Development and Community Wealth Building
2. Making Financial Power Ilvork for Local Places
3. Just Labour Markets & Incl(L8ive Work
4. The Plural Economy. Social Economics and Building Comrnunities
5. Progressive Pro¢uremenl of Goods & SeNices
The ￿POrtS on CW8 represent a si9n5f￿8nt development inteNention on behalf of the family of
communty development trusts. This WO￿ aligns purposefully wtlh the Departrnenl for Communities,
strategic plan 2020-25. 'Building Inclusive Communities.. Referenced within the cross<utting theme
'sustainability & inclusive growth. is the departments comrnitment to: 'Graw and scale communty
wealth building to support econcmic recovery..
We picked up <)n the new opportunities presented through the Depwtrnent for Levelling Up. Housing &
Communities and provided support for members applying to Ihe Levelling Up and Communty
Ownership Funds through Westminster.
We continued to make representation to central government foi a dedicated capital fund for the VCSE
sector in Nl. That campargn remains ongoing. DNTI have led Ihe public debate on the need for reforrn
of local economic development pra¢ti¢e in Nl. We continued to work with our partne[5 in the family of
UK development twsts and the Centre for Local Economic Strategies. The organisation continued
(and diversified) its work in support of a Communty Rights Act in Nl supported ty investment from
Joseph Rowntree Charitable Trust. In addition, we have continued lo deliver on the investment from
the Rank Foundation through the 'Start Here. programme with which we have been able to larget and
re¢rubt new enlrants to the work of the voluntary. communty and social enterprise sector.
We have continued to explore and avail of opporttjnities to trade on the professional expertise held by
the staff team at DTNI includin9 tendering to test the Community Transfer policy frameworf< of Belfast
City Council.
We conlirnued to represent the interests of mernbers through our participats'on on the Joint Forurn
shaping the new ag￿ement for joint working between Ihe voluntary and communty sector ard the
public sector.
We are thankful for the reGognition from our independent InVest￿S and the faith they have shown in
the work of Ihe Qrganisation.
Heading into 2023, we committed to delivery of following work piiorities.

Pago 7
Development Trusts {Nl) Limited
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directorfs Reportl (contlnu
Year ended 31 March 2023
FiTrancial review
The company re￿Ied a surplus for the financial year to 31 March 2023 of £60.781 (2022 - £91,603)
resulting in a totsl reserve balance of £324.986 (2022 - £264,205).
The company has a reserves policy in place which seeks to eslablish free reserves equivalent to a
minimum of 6 months of ￿CUrrent overhead expendilure.
Plans for future periods
Heading into 2023. we committed to delivery of folloviing vffjrk priorities.
Working with Central Governrnenl:
Ensure that DTNI has an enhar￿d role as a regional infrastructure organisation delivering on
community ownership, on community rights and on Ihe 5 pillar5 of community weakh building
(Assets. Plural Econorny. Financial Power. Fair Empbyment and Progressive Procuremenl).
PrTrJress our developrnent support to alwn with the emerging policy & programme priorities of
Ihe Regional Infrastruciure Support Programme and People & Place.
Ensure the work of DTNI is recognised as central to the delivery of Dfc's strategic plan
2020125. 'Building Inclusive Cornmunities..
Working with UK Partners
Engage wilh Lo¢ality, DTAS & DTAW and UK support partners to ensure that VCSE
organisations are actively supported to advan￿ their Inte￿St in the Department for
Levelling-up. Housing & Communilie5. Community Ownership Fund.
Provide development support to assist organisath)ns in the preparation of business case for
submission to the Community Ownership Fund.
Lobby fc* an Nl c￿mUnIty Ownership Fund (capiial and revenue) for VCSE rxganisations.
Working with Independent Trusts & Foundations
Engage with local government to explore common interests around wealth buikling, locaj
economy, and communty rights.
Engage rnembers to ensure their development issues and support needs are accurately
captured and presented to local and central government and other relevant stakeholders.
Oevetop a new digital civic participation engagement platfonn for members of DTNI.
Additionally. we agreed to:
Devdop new support programme5 With the UK Development Tw5t Netwofks." Buikrf the
Developrnent Trust Ne￿Ork in Nl.
Share our Llevelopment model with Civic organisations in the Republic of Ireland." Lobby for an
Nl Communty Rights and Empowerment Act.
Represent member interests on the Joint Forum.
Advocate for policy & programme support on ￿Mmunity led hwsing.

Page 8
Development Trusts (Nl) Limited
Company Limited by Guarantee
Trustees, Annual Report {Incorporating the Directorfs Report) (contlnuad)
Year ended 31 March 2023
Trnstees. responsibilitles statement
The trustees, who are also directors for the purposes of company law, are responsible for preparing
the trustees. report and the financial ststemenls in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdorn Generally Accepted Accounting Practice).
Company law requi￿5 the charity trusiee5 to prepare financial statements for each year which give a
true and fair view of the state of affairs of the charitable cornpany and the incoming resources and
application of ￿sourCes. including the income and expenditure, for Ihat period.
In preparing these financial statements. the trustees are required to:
select suitable accounting policies and then apply them conststently:
obsepie the methods and principles in the applicable Charities SORP:
make judgments and accounting estimates that are reasonable and pwdent.,
prepare Ihe financial statements on the going concern basis unless rt is inappropriate to presume
that the charity will continue in business.

Page 9
Development Trusts (Nl) Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directoes Report) (c*)ftdrtu8d)
Year ended 31 March 2023
The Irustees are responsible for keeping adequate acwunting records that are sufficient to sht)w and
explain the charity's transactions and disclose with reasonable accuracy at any tirne the financial
position of the charity and enable them lo ensure that the financial statements comply with the
Cornpanies Act 2006. They are also responsible for safeguarding ihe assets of the charity and hence
for iaking reasonable steps for the prevention and detection of fraud and other irregularities.
Auditor
Each of Ihe persons who is a trustee at the date of approval of this report confimis that..
so far as Ihey are aware, there is no relevant audit information of whlch the charity's auditor is
unaware; and
they have taken all steps that Ihey ought lo have laken as a trustee to make themselves aware of
any relevant audit infomiatton and to establish thal the charity's auditor is aware of thal
information.
The auditor is deemed to have been re-appointed in accordance with secfion 487 of the Companies
Act 2006.
Small company provisions
Thi5 report has been prepared in accordance with the provisions applicable to companies entitled to
the small companies exemption.
The trustees, annual report was approved on 9 October 2023 and signed on behalf of the board of
trustees by:
Mr B O'Neill
Trustee

Page 10
Development Trusts (Nl) Limited
Company Limited by Guarantee
Independent Auditorfs Report to the Members of Development Trusts (Nl)
Limited
Year ended 31 March 2023
Opinion
We have audited Ihe financial statements of Development Trusts (Nl) Limited {the 'charty') for the
year ended 31 March 2023 vthich comprise the slaternenl of financial activities (including income and
expenditure account). statement of financial position and the ￿lated notes. including a summary of
significant accounting policies. The financial reporting framework thal has been applied in Iheir
preparation 15 appltcable law and United Kingdom Accounting Standards. including FRS 102 The
Financial Reporting Slandard applicable in the UK and Republic of Ireland {Untled Kingdom Generalty
Accepted Accounting Practice).
In our cyinion the financial stalernents:
give a true and fair view of the state of the charivs affairs as at 31 March 2023 and of its
incoming resources and application of ￿SoUrces, including its income and expenditure, for Ihe
year then ended:
have b&n properfy prepared in accordance with Unrled Kingdom Generally Accepted
Accounts'ng Practice:
have been prepared in accordance wilh the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audtt in accordance with International Standards on Audiiing (UK) (ISAS (UK)) and
applicable law. Our responsibilities under those standards are further descJibed in the auditors
responsibilities for the audit of the financial statements section of our report. We are independent of
the charty in accordance with the ethical requirements that are relevant to our audit of the financial
stalements in the UK. including the FRC'S Ethical Standard. and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe ihat the audit evidence we have
oblained is sufficient and appropriate to provide a basts for our opinion.
Concluslons relating to golng concem
In auditing the financial statements. we have concluded thal Ihe trustees, use of Ihe going cortern
basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfonned, we have not identified any material uncertainties relaling lo
events or conditions thal. irtdividually or wllectively. may cast srgnrficant doubt on the chaiity's abilty
to continue as a going ccncem for a period of at least tsvelve rnonths from when Ihe financial
statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concem are descnbed
in the relevant sedions of this report.

Page 11
Development Trusts (Nl) Limited
Company Limited by Guarantee
Independent Auditorfs Report to the Members of Development Trusts (Nl)
Lim ited (conrlnu8dJ
Year ended 31 March 2023
Other information
The other infomption comprises the infomation included in the annual report. other than the financial
statements and our auditorfs report thereon. The trustees are resp0Tr5ble for the other information.
Our opinion on the financial statements does not cover Ihe other infomiation and. except to the extent
otherwise explKitly stated in our report. we do not express any fonn of assurance conclusion thereon.
In connection wilh our audit of the fsnancial statements. our ￿pOnSIbl[ty is to read the other
information and. in doing so. consider whether the other infumation is materially inconsistent with the
financial statemenls or our knowledge obtained in the audit or othepwise appears to be materialty
misstated. If we identify such malerial inconsistencies or apparent material misstatements, we are
required to determine whether there is a material misstatement in the financial statements or a
malerial misstatement of the other infomation. If, based on the work we have performed. we conclude
thal there is a material misslaternent of this other iDfcKmation, we are required to report that fact.
We have nothing to report in this regard.
Oplnlons on other matters pyescrfbed by the Companies Act 21X)6
In our opinion. based on the th undertaken in the course of the audit:
the infomation given in the tfUStees' report for the financial year for which the financial
statements are prepared is wnsistent with the financial staternents; and
the trustees, report has been prepared in accordance with applicable legal requirement5.
Matters on whiGh we are required to report by exception
In Ihe light of the knowledge and undet51anding of the charity and ts environment obtained in Ihe
course of the audit. we have not identifred material rnisstatements in Ihe trustees, report.
We have nothing to report in respect of the following matters in relalion to which the Companies Acl
2006 requires us to report to you rf, in our opinion:
adequate accounting records have not been kept. or returns adequate for our audit have not
been received from braThches not visited by us: or
the financial statements are not in agreement with the accounting records and returns: or
certain disclosures of tnjstees. remuneralion specified by law are not made: or
we have noi r￿1Ved all the infomiation and explanatkons we require for our audit: or
the trustees were not enlitled to prepare the flnancial statements in accordance with the small
companies regwne and take advantage of ihe small companies, exemptions in preparing the
directors. report and from the tequirement to prepare a strategic repo

Page 12
Development Trusts (Nl) Limited
Company Limited by Guarantee
Independent Auditorfs Report to the Members of Development Trusts (Nl)
Limited (conllnueo)
Year ended 31 March 2023
Responsibilities of trustees
As explained more fulty in the trustees. responsibilities statement. the trustees {who are also the
dwectors for the purposes of company law) are responsible for the preparation of the financial
statements and for being satisfied that they gNe a true and fair view, and for such intemal ¢￿trol as
the trustees detemiine is necessary to enable the preparation of financial stalernents thal are free
from mateftal misstatement, whether due to fraud or error.
In p￿parIng Ihe financial statements. the Irustees a￿ responsible for assessing the charily's ability to
continue as a going concern. disclosing, as applicable. matters related to going concern and using the
going concern basis of accountiry unless the trustees either intend to liquidate the charity or to cease
operations. or have no fealistic altemative but to do so.
Auditorfs responsibilities for Ihe audit of the financial statements
Our objectives a￿ to obtain ￿aSonable assuran￿ aboui whether the financial statements as a whole
are free from material misstatement. whether due to fraud or error. and to issue an audilorfs report that
includes our opini¢Jn. Reasonable assurance is a high level of assuran￿. bui is not a guarantee that
an audit conducted in accordance with ISAS (UK) will always detect a material misstaternent when it
exists. IAisstalements can arise from fraud or error and are considered material if. individually or in the
aggregate. they could reasonably be expected to influence the economi decisions of users taken on
the basi5 of these financial statements.
Irregularities. including Iraud, are instances of non-ccrfnpliance with kws and regulations. We design
procedures in line with our responsibililies, outlined above, to detect material misstatements in respect
of irregularities. including fraud. The extent to which our procedures are Gapable of detecting
irregularities. including fraud is detailed below:
As part of the audit process we obtained an understanding of the legal and regulatory framewoTk
applicable to the entity. being FR102. Ccrtnpanies Act 2006 the UK taxation regime and compliance
with regulations in relation to the Coronavinjs Jobs Retention Scheme and the Coronavirns Business
Interruption Scheme. In addition, we assessed the risks of material fraud through enquires with
management and those charged with corporate governance and anatytical prO￿dureS were used to
assess any unusual or unexpected relationships. As wilh all Organisat￿n of this srze. there remains an
inherent diffufty in the detection of irregularitie5.
A further description of our responsibilities for the audit of financial stslements is located on Ihe FRC'S
website at wNvw.fr¢.org.uklaudiiorsresponsibilities
As part of an audit in aGcordanGe with ISAS (UK}. we exercise professional judgment and maintain
professional scepticism throughout the audit. We also:
Identify and assess the risk5 of material misstatement of the financial sL*ements. whether due to
fr8ud or error. design and perfonn audit procedures responsive lo those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not
detecting a rnaterial misstatement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion. forgery. intentional omissions. misrepresentations, or the override
of intemal Control.
Obtain an understanding of internal control relevant to the audit in order to desb3n audit
procedures that are appropriate in the circumstances. but not for the purpose of expressing an
opinvjn on the effectiveness of the internal contiol.

Page 13
Development Trusts (Nl) Limited
Company Limited by Guarantee
Independent Auditorfs Report to the Members of Developrnent Trusts (Nl)
Limited (conunuerfj
Year ended 31 March 2023
Evaluate the appropriateness of accounting polt¢ies used and the reasonableness of accounting
estimates and related disclosures made by the trustees.
Conclude on the appropriateness of the Irustees, use of the going eon¢em basis of accwnling
and. based on the audit eviden￿ obtained, whether a rnalerial uncertainty exists related lo
events or conditions that may cast signif￿ant doubt on the charily's ability to continue as a going
concern. 11 we wnclude that a material uncertainty exisis. we are required lo draw attention in
our auditorfs report to the related disclosures in the financial slaternents oi. rf such disdosures
are inadequate. to modify our opinion. Our conclusions a￿ based on the audit evidence obtained
up to the date of our aud[1￿$ report. However. future events or condition5 rnay cause the charity
to tta5e to continue as a going ¢oncern.
Evaluate Ihe overall presentation. structure and con18nt of the financial statements. induding ihe
disclosures. and whether the finan¢5al statements represent the underlying transactions and
events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters. the planned
scope and liming of the audit and significant audit findings, including any significant deficiencies in
intemal control that we identify during our audil.
Use of our report
This report is made Sokly to the charitrfs rnembers, as a body. in accordance with Chapter 3 of Part
16 of the Companies Ad 200S. Our audit work has been undertaken so that we Might stste lo the
charity's members those matters we are required to stale lo them in an audiiorfs report and for no
other purpose. To the fullest exlent pennitted by law. we do not accept or assume responsibilty to
anyone other than the charty and the tharity's members as a body. for our audit work. for thi5 report.
or for the opinions have fomed.
Elaine Mulholland (Senior Statutory Auditor)
For and on behalf of
Johnst¢)n Graham Limited
Chartered accountants & statutory auditor
2161218 Holywood Road
Bellast
BT4 1PD
9 Oclober 2023

Page 14
Development Trusts (Nl) Limited
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure accounti
Year ended 31 March 2023
2023
Restricted
funds Total funds Total funds
2022
Unrestricted
funds
Nots
Income and endowments
Charitable activities
Other trading activities
Olher income
25,000
7.200
29.414
61.674
340,665
365,665
7,200
29,414
402,279
443.334
22.569
49,964
Total income
340.665
515.867
Expenditure
Expenditu￿ on charitable activities
Total expenditure
32.089
309.409
341.498
424,264
32,089
309,409
341,498
424.264
Net income
29.525
31.256
60,781
91.603
Transfers between funds
52.777
(52.777)
Net movement In funds
82,302
(21.521)
60,781
91,603
Reconciliation of funds
Total funds brought fop¥vard
Tolal fvnds carried fOr￿ard
183.318
80.887
264.205
324.986
172.602
264.205
265,620
59.366
The statement of financial activities includes all gains and losses recognised in the year.
All incorne and expenditure derive from conlinuing activities.
The not98 on pages 16 to 23 fom) part ¢1 IhoB& flnanclal ststements.

Page 15
Development Trusts (Nl) Limited
Company Limited by Guarantee
Statement of Financial Position
31 March 2023
2023
2022
Note
Fixed assets
Tangible fixed assets
13
5.024
7.173
Current assets
Debtors
Cash. at bank attd in hand
14
62.325
294.791
129,703
213,464
343.167
357,116
Creditors: amounts falling due within one year
Net current assets
15
37.154
86,135
257,032
264.205
319,962
Total assets less current liabilities
324.986
Net assets
324.986
264.205
Funds of the charlty
Restricted funds
Unrestricted funds
59.366
265,620
324.986
80,887
183,318
Totsl charity funds
16
264,205
These financial siatemenls have been prepared in aC￿rdan￿ with the provision5 applicable to
companies subject to the small companies, regime.
These financial statements were approved by the board of trustees and authorised for issue on 9
October 2023. and are signed on behaw of the board by:
Mr B O'Neill
Trustee
Tha notos on pages 16 to 23 fonn part of theso flnanctsl 8tstomonts.

Page 16
Development Trusts (Nl) Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2023
General information
The charity is a public benefrt entty and a private company limited by guarantee, registered in
Northern Ireland and a registered charity in Northem Ireland. The address of the registered office
is Cathedral Quarter Managed Work Space, 109-113 Royal Avenue, Belfast. BT11FF.
Statement of Compliance
These financial staiements have been prepared in compliance with FRS 102, The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Stand8rd applicable in the UK and Republic of Ireland (FRS 102) {Charitie8
SORP (FRS 102)) and the Companies Act 2006.
Accountlng policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. as modified by the
revaluation of certain financial assets and liabilities and inve5trnent propertie5 measured at fair
value through Tncome or expenditure.
The financial statements are prepared in sterling. which ts Ihe functional currency of the entity.
Golng concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements,
estimates and assumptions that affect the arnounts reported. These estimates and judgements
are continually reviewed and are based on experience and other factors, includin9 expectations
of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds a￿ available for use at the discretion of the trustees to further any of Ihè
charity's purposes.
Designated funds a￿ unrestricted funds earniarked by the tru5tee5 for particular future project oi
commilment.
Reslricted funds are subjected to restrictions on their expendilure dedared by the donor or
through the terms of an appeal, and fall into one of Iwo sub<lasses'. reslricted incorne funds or
endowrnent fund5.

Page 17
Development Trusts (Nl) Limited
Company Limited by Guarantee
Notes to the Financial Statements (¢ondnued)
Year ended 31 March 2023
Accounting policies fcontlnuedj
Incoming resources
All incoming resources are included in the Statement of financial activities when entttlement has
passed to the charity.. it is probable that the economic benefrts associaled with the transaction
will flow to the charity and the amount can be reliably measured. The following specific policies
are applied to particular categories of income-
incorne frorn donations or grants is recognised when there is evidence of entitlement to the
gift. receipt is probable and its amount can be rneasured reliab￿.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is
impraclical to measure reliably, in which case the value is derived from the ¢ost to the donor
or Ihe estimated resale value. Donated facilities and services are iecognised in the
accounls when received rf Ihe value can be reliably measured. No amounts are included for
the contribulion of general volunteers.
income from contracts for the supply of services is recognised wtth the delivery of the
contracted service. This is classffjied as unrestricted funds unless there is a contractual
requirement for it to be spent on a particular purpose and returned if unspent. in which case
rt may be regarded as festricted.
Resources expended
Expenditure is recognised on an acctuals basis as a liabilty is incurred. Expenditure includes any
VAT which cannot be fully recovered. and is dassified under headings of the statement of
financial activities to which it relates..
expenditure on raising funds includes the costs of all fundraising activities. events,
rK)n-charitable trading activities. and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charty in undertaking
activities that further its charitable aims for the ber¢efil of its benefriaries, including those
support costs and costs relating to the govemance of the charity apportioned to charitable
activilies.
olher expenditure includes all expenditure Ihat 15 neither related lo raising funds for the
charity nor part of its expenditure on charltable aclivities.
All costs are allocated to expenditure categories reflecling the use of Ihe resource. Direct costs
attributable to a single activity are allocated directly to thal activity. Shared costs are apportioned
belween the aclivtties they contribute to on a reasonable. juslifiable and consistent basis.
Tangible assets
All fixed assets are initially recorded at cost.

Page 18
Development Trusts (Nl) Limited
Company Limited by Guarantee
Notes to the Financial Statements (￿ntInu*d)
Year ended 31 March 2023
Actounting policies (conilnued)
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset. less tls residual
value. over the useful economic lrfe of that asset as follows-
Fixtures, fittings and equipment
25èA. straight line
Impalrment of fixed assets
A review for indicators of impainnent is carried oul at each reporting date. with the recoverable
arnount being estimated where such indicators exist. Where the caryillg value exceeds the
recoverable 8mount. the asset is impaired arxordingly. Prior impaimients are also reviewed for
possible reversal at eaGh reporting date.
For the purposes of irnpairment testing, when it is not P055ible to estimate the recoverable
arnount of an individual asset, an estirnate is made of the recoverable amounl of the
cash-generating unit lo which the asset belongs. The cash4Jeneraling unit is the smallest
idenlifiable group of assets that indudes the asset and generates cash Inflows that largely
independent of the cash inflows from other assets or groups of assets.
For impaimient testing of goo¢)￿111. the gt)odwill acquired in a business combinalion is, from the
acquisition date, allocated to each of the cash-generating units Ihat are expected to benefit from
the synergies of the combination. irrespective of whether other assets or liabilities of the charity
are assigned to those units.
Flnancial Instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the
contractual provisions of the iftstNment.
Basi¢ financial instruments are initially recognised at the amount receivable or payable induding
any related transaction costs.
Current assets and current liabilitie5 are subsequenlly measured at the cash or other
consideration expected to be paid or re￿)Ved and not dtscounted.
Debt instnjments are subsequently measured at amortised cost.
Where invesiments in shares are publicly traded or their fair value can otherwise be measured
reliably. the investment is subsequently measured at fair value with changes in fair value
recognised in income and expenditure. All olher such investments are subsequently measured at
cost less impaimienL
Other financial instruments, including derivatives. are initially recognised at fair value. vnless
payment for an asset is deferred beyond nomial business terms or financed at a rate of interest
that is not a market rate, in which case the asset 15 measured at the present value of the future
payrnenls discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes
recognised in the statement of financial activities. with the exception of hedging instruments in a
designaied hedging relalionship.

Page 19
Development Trusts (Nl) Limited
Company Limited by Guarantee
Notes to the Financial Ststements (¢ontlnuedJ
Year ended 31 March 2023
Accountlng pollcles (¢ontlnueo)
Flnanclal Instruments (¢ontlnued)
Financial asset5 that are measured at cost or amortised Cost are rwrfiewed for objective evidence
of impaiment at Ihe end of each reporting date. If Ihere is objeGtive evidence of impairmenl. an
impairment loss is recognised under the appropriate heading in the statement of financial
activities in which the inilial gain was reGognised.
For all equity instruments regardless of sigftlf￿anCe, and other financial assets that are
individually significant. Ihese are assessed individually for impairment. Other financial assets are
either assessed individually or grouped on the basis ol similar credbt risk characleristics.
Any reversals of impaim)ent are recognised irnmedialely, lo the extent that the ieversal does not
result in a ¢arrying amount of the financial asset thal exceeds what the ¢arying amount would
have been had the impainnent not p￿vIOuslY been re￿gnIsed.
Llmited by guarantee
The company is limited by guarantee and has no authorised or issued share capital. The
company has charitable status accepted by the Charity Commission for Northern Ireland under
reference NIC102489.
Charitable activities
Unrestricted
Funds
Restricted Totsl Funds
Funds
2023
Grants- DFC
Friends Providenl
Joseph Rowntree
Community Wealth
Community Foundation
SUNSE
Rank
Other
25.000
152.663
177,663
49.582
102,995
12.425
49.582
102.995
12,425
20,000
3,000
340.665
20,000
3,000
365,665
25.000
Unrestricted
Funds
Restricted Total Funds
Funds
2022
Grants - DFC
Friends Providenl
Joseph Rowntree
Community Wealth
Communty Foundation
SUNSE
Rank
9,721
147.941
14,608
16,250
79.499
49.701
125.614
157.662
14.608
16,250
79,499
49,701
125,614
9.721
433,613
443.334

Pagè 20
Development Trusts (Nl) Limited
Company Limited by Guarantee
Notes to the Financial Statements (eontlnued)
Year ended 31 March 2023
Other trading activities
Unrestricted Total Funds Unrestricted Total Funds
Funds
2023
Funds
2022
Fees
Membership
22,494
75
22.494
75
7,200
7,200
7,200
7,200
22.569
22.569
Othew income
Unrestricted
Funds
Re5lricted Total Funds
Funds
2023
Other income
29.414
29,414
UnrestriGted
Funds
Restricted Total Funds
Funds
2022
Other income
44,964
5,000
49,964
Expenditure on charltable activitles by fund type
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Wages and salaries
Project costs
Support Costs
3,583
25,992
2.514
32.089
188,750
102,787
17,872
309,409
192,333
128,779
20,386
341,498
Unrestricted
Funds
Restricted Total Funds
Funds
2022
Wages and salaries
Project costs
Supp¢rt costs
156.383
246.082
15,312
156.383
252,326
15,555
424.264
6,244
243
6,487
417,777
Expenditure on charitable activlties by actlvlty type
Acttvities
undertaken Total funds
dwectly
2023
Total fund
2022
Wages and salaries
Projed costs
Support CDSIS
192.333
128,779
20,386
341.498
192,333
128,779
20,386
341,498
156,383
252,326
15.555
424.264

Page 21
Development Trusts (Nl) Limited
Company Limited by Guarantee
Notes to the Financial Statements (contlnued)
Year ended 31 March 2023
10. Net in¢ome
Net income is stated after chargiW(crediiing):
2023
2022
Depreciation of tangible fixed assets
3.099
2.488
11. staff costs
The total staff costs and ernployee benefits for the reporting period are ana￿sed as follows:
2023
2022
Wages and salaries
192,333
156.383
The average head count of employees during the year was 3 (2022: 3). The average nurnber of
full-lime equivalent employees during ihe year is analysed as follows:
2023
2022
No.
Number of administrative staff
No employee receNed employee benefits of more than £60.000 during the year (2022: Nil).
12. Trustee remuneration and expenses
No Irustees receÈved remuneration or other benefrts through employment with Ihe charity.
13. Tangible fixed assets
Equipment
Totsl
Cost
Al 1 April 2022
A￿d￿lOnS
13.058
950
13.058
950
At 31 March 2023
14.008
14.008
Depreciation
At 1 Aprd 2022
Charge for the year
At 31 March 2023
5,885
3.099
5.885
3,099
8.984
11.984
Carrying amount
At 31 March 2023
5.024
5.024
At 31 March 2022
7.173
7.173
14. Debtors
2023
2022
Grdnt debtor
62.325
129.703

Pag8 22
Development Trusts (Nl) Limited
Company Limited by Guarantee
Notes to the Financial Statements {conllnu•d)
Year ended 31 March 2023
15. Creditors: amounts falling due within one year
2023
2022
Trade eredrf(ors
Accruals and deferred income
Social security and other taxes
30,442
258
6,454
37.154
86.135
86,135
16. Analys55 ol charilable funds
Unrestricted funds
At
31 March 202
At
1 April 2022
Income Expenditure
Transfers
General funds
183.318
61,614
(32,089)
52.777
265.620
At
31 March 202
At
1 April 2021
Income Expenditure
Transfers
General funds
112,551
77.254
(6,487)
183.318
Restricted funds
At
31 March 202
At
1 April 2022
Income Expenditure
Transfers
Restricted Funds
80.887
340.665
(309.409)
{S2,777)
S9,366
At
31 March 202
At
1 April 2021
Income Expenditure
Transfers
Restricted Funds
60.051
438.613
(417.777)
80,887

Page 23
Development Trusts (Nl) Limited
Company Limited by Guarantee
Notes to the Financial Statements (￿￿￿1￿9￿)
Year ended 31 March 2023
17. Analysis of net assets between funds
Unrestricted
Funds
Restrthd Total Funds
Funds
2023
Tangib￿ f￿ed assets
Current assets
Creditors less than 1 year
Net assets
310
302.464
(37,154)
265.620
4.714
54.652
5.024
357.116
(37.154)
324,986
59.3e6
Unrestricted
Funds
Restricted Total Fund$
Funds
2022
Tangible r￿ed assets
Current assets
Creditors less than 1 year
Net assets
1.977
267.476
{86,133)
183.320
5,196
75,691
7,173
343.167
(86,133)
264.207
80.887