OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

← Development Trusts NI Ltd

2025-03-31-accounts

Company registration number: NI605197 Charity registration number: 102489

Development Trusts (NI) Limited

(A company limited by guarantee) Financial Statements Financial Statements 31 March 2025

==> picture [166 x 73] intentionally omitted <==

----- Start of picture text -----
vy)
-O.
Zza l| ||l | ll| | |
a “AEHM40SA
> BN 17/12/2025 #100
COMPANIES HOUSE
----- End of picture text -----

Development Trusts (NI) Limited

Contents

|||||| |---|---|---|---| |Reference and Administrative Details|||1| |Trustees’ Report|.||2 to 9| |Independent Auditors’ Report||.|11 to 14| |Statement of Financial Activities|||15| |Balance Sheet|||. 16| |NotestotheFinancialStatements|||17to24|

Development Trusts (NI) Limited

Reference and Administrative Details

.

Trustees Brian O'Neil
Nigel John Kinnarid
John Colm Meehan
Andrew Garden Tough
Liam Bernard O'Hagan
Edward Francis McGoldrick
Fintan Michael McAliskey
Margaret Jean Patterson-McMahon
Emma Bohill, (Joined 04 November 2024)
Dreenan McBride, (Joined 04 November 2024)
Charity Registration Number 102489
Company Registration Number NI605197
Registered Office Cathedral Quarter Managed Workspace
109-113 Royal Avenue
Belfast
BT1 1FF
Auditor RBCA Limited
Linenhall Exchange
26 Linenhall Street
Belfast
BT28BG

.

Page 1

Development Trusts (NI) Limited

Trustees’ Report

Structure, governance and management

Development Trusts NI (DTNI) is incorporated under the Companies Act 2006 as a private company limited by guarantee (NI605197) and is a register charity (NI102489). The current Board of Directors are Andy TouDevelopment Trusts NI (DTNI) is incorporated under the Companies Act 2006 as a private company limited by guarantee (NI605197) and is a register charity (NI102489). The current Board of Directors are Andy Tough (Chair), Margaret Patterson McMahon (Treasurer), Brian O'Neill (Secretary), John Meehan, Nigel Kinnaird, Liam O'Hagan, Eddie McGoldrick, Fintan McAliskey, Drennan McBride and Emma Bohill. Within the reporting period Drennan McBride and Emma Bohill were appointed as Directors.

The Board meets quarterly fulfilling its governance responsibilities with a particular focus on Finance and HR and with oversight of the strategic focus of the work of DTNI. The board is regularly appraised of the operational services 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 Officer oversees the organisations strategic priorities and operational objectives. DTNI complies with its legal and governance obligations and assess operational risks and mitigates for these to the extent reasonably possible.

Risk Register

The organisation, in line with best practice, seeks to identify and mitigate for risks that may impact the continuance of its work. Key to this is to maintain a board of high repute and sustaining the highest standards of good governance.

The company’s’ CEO is charged with identifying and bringing to the attention of the board of directors matters with a potential to have a detrimental impact on the work of the organisation. A regular risk assessment is presented at the board’s quarterly meetings.

For the year ahead, 2024/25, risk factors are deemed low. Though there is no clarity on future funding arrangements from the Department for Communities (DfC), it is expected that DfC will continue to invest in the work of DTNI as a regional infrastructure support provider. Programme funding from Joseph Rowntree Charitable Trust and the Rank Foundation are due to close at the end of the current financial year (2024/25). Though this will impact the organisations overall level of funding, the organisation has secured new programme funding and is able to draw from its reserve to sustain its activities through 2025/26. Several additional programme investment opportunities are being developed and the organisation will continue to tender for new business.

Financial Reserves

In line with best practice in the financial governance of charitable companies, the organisation retains a six month reserve to enable it to manage its obligations to staff and creditors should the company enter a phase of closure. The audited accounts for the financial period show that the organisation finances are sufficient in this regard.

On wider matters of financial prudence, the organisation maintains a policy register directing the management of its finances and the maintenance of a reserve. The organisation outsources and tenders for financial support services in support of the day to day management of its finances and financial auditors for auditing and presentation of annual accounts.

Page 2

.

‘

Development Trusts (NI) Limited

Trustees’ Report

Objectives and activities

Mission

A Development Trust in every community that wants one: Promoting community ownership of assets and supporting community wealth & well-being.

Vision

For communities to be financially and politically empowered to control and shape their future.

Values

. ,

Page 3

Development Trusts (NI) Limited

Trustees’ Report

Priorities

DTNI represents the interests of community development trusts, associations and social enterprises that make up the Development Trust Network in Northern Ireland (Ni). It provides development support, advice, expertise and experience to communities and the public sector to promote sustainable community development, community led business and to advance the socially productive use of land and property assets, focusing on:

1. Membership Development, Networking & Leadership:

Delivering against our values of participation and partnership.

2. Community Ownership:

Upholding our mission to promote ownership of assets.

3. Community Wealth Building:

Supporting our vision of financially empowered communities working within a local social and econimic development setting.

4. Political Lobbying & Policy Advocacy:

.

Delivering our mission: A Development Trust in every community that wants one.

5. Good Governance:

Ensures transparency and excellence in our operations.

To support delivery of our strategic priorities we focus on.

* Enhancing Organisational Capacity

Investing in our people and technology to ensure we have the resources needed to achieve our mission.

* Increasing Member and Stakeholder Engagement

Working closely with our members and stakeholders to ensure their voices are heard and their needs are met.

* Expanding Programme Offerings

Developing new programmes and initiatives based on the needs of our communities, ensuring we provide relevant and impactful services.

;

Page 4

Development Trusts (NI) Limited

Trustees’ Report

Programmes

Our strategic priorities are met through the delivery of our programmes: In 2024/25 this has included.

‘4.Community Asset Transfer (CAT)

Awareness raising, advocacy for voluntary, community and social enterprise organisations acquisition management and ownership of surplus public land and property assets.

2.Community Ownership Fund (COF) Providing development support, advice and access to professional expertise to bring capital investment to save community assets.

3.Community Wealth Building (CWB) Awareness raising around CWB & facilitating 2 CWB Partnerships one in Larne and the other in the North-West with a focus on strengthening local economic development practice that addresses poverty, deprivation & marginalisation.

Working with Mid-Ulster District Council to advance a ‘test and learn’ intervention in support of CWB.

4.Shared Island Civic Society:

Engaging in cross-border networking, sharing and learning, bringing the experiences of civic society organisations on both sides of the border in Ireland together. Engaging academic from Dublin City University and Queens University Belfast to identity assymentry and symmetry of policy and practice across the island to identify opportunities to advance a Social Economy on a Shared Island.

5.Community Rights

Awareness raising, facilitation of community dialogue and political advocacy for the introduction of a , community rights act in NI, supported by Joseph Rowntree Charitable Trust.

6.DTNI Connect

Working to support our members to enhance civic participation and place shaping in their local communities.

7.Research

Commissioning of policy papers on A Social Economy for a Shared Island.

8.Community Connectors (UK)

Working to support networking amongst our members in NI and between the family of community development trusts and associations from across the UK. Facilitating individual group exchange in NI and across the UK and participation at the annual Conference and Convention hosted by the Development Trust Association Scotland and Locality in England.

9.Miscellaneous: . Provising technical support for challenging development issues including mergers and cooperation through the support of the Halifax Foundation.

Representation on the board of the Euro/Med Federation of Settlements providing NI Community Development Trusts and Assoociation with a voice in Europe.

Page 5

Development Trusts (NI) Limited

Trustees’ Report

Established in 2010 DTNI has a modest membership of approximately 110 community development trusts, associations, and social enterprises. During the current period, we have:

« Supported VCSEs to apply to the UK Community Ownership.

« Represented the interests of members across the UK through joint work with the Development Trust Association networks in England, Scotland, and Wales.

For the reporting period (2024-25) DTN! employed a Chief Executive Officer, a Senior Programme Coordinator, a Corporate Support Officer, a Digital Innovation Officer and a Communication and Administrative Officer. DTNI employees oversaw the delivery of contract objectives in support of Community Asset Transfer (CAT) and Community Wealth Building (CWB) for the Department for Communities (DFC) and local government; Community Rights and support for 2 CWB pilot projects supported by Joseph Rowntree Charitable Trust and the Rank Foundation programme ‘Start Here, supporting the development of DTNI Connect.

Both JRCT and Rank Foundation funded programmes concluded at March 2025.

We continued to provide development support to VCSE organisations from across NI with an interest in acquiring and managing and developing an asset base including promotion of its position within the internal ‘public sector’ market and advanced its interest in the ownership and management of surplus public assets.

We continued to engage extensively with our sister networks in the UK and delivered the Community Ownership Fund (COF) progrmanme in NI acting as lead development support partner in NI.

Page 6

Development Trusts (NI) Limited

Trustees’ Report

in the reporting period we promoted the opportunity that COF presented and engaged with the interest of communities who were interested in applying for capital investment. The demand from VCSEs expressing interest in the fund (200 in year 1) was sustained into year 2 and we continued to work to meet increasing demand across civic society. Responding to that demand we engaged our political representatives and outlined the case for a NI Community Ownership Fund, to meet ongoing capital need, revenue requests and the development supports required. That work is ongoing.

DTNI also submitted an application for investment to support its business proposal to acquire the former physiotherapy centre and Synagogue at 4 Annesley Street Belfast. This listed asset is scheduled for disposal by the Belfast Health and Social Care Trust. DTNI’s proposal in acquiring this listed heritage asset was to establish a permanent base for the organisation and a resource centre for its members. Though we were successful in securing both COF investment and separate investment from the National Lottery Heritage Fund, circumstance regarding the terms of disposal from the Belfast Health & Social Care Trust worked against furthering the project. This work is ongoing.

In the reporting period we continued to advocate for the economic development functions of our members and their collective contribution to the social and economic affairs of NI. In the year 2024/25 we supported the setting up of 2 Community Wealth Building partnerships, principally in the North-West (Derry City and Strabane District Council) as well as in the North-East (Larne). DTNI's work on CWB represent a significant development intervention on behalf its members and the wider VCSE sector in NI. This work aligns with the Department for Communities’ strategic plan 2020-25, ‘Building Inclusive Communities’ and its commitment to: ‘Grow and scale community wealth building to support economic recovery’ and the Department for Economy ‘Sub-Regional Strategy Economic Plan’ . In support of this policy enmphias DTNI conferenced on the theme of ‘A New Localism’ in June 2024.

This work has has notable success in the current financial year 2025/26.

Late in the reporting period we re-established our work in support of community ownership of Lough Neagh. This coincided with our all-ireland work supported by the Shared Island Civic Society fund and the emphasis therein on renewable energy and community ownership. To this end we connected members with the work of Sams@ Energy Academy, world renowed for its work on net zero, through our engagement with its CEO at our Dublin conference and latterly his engagement with key NI community stakeholders on renewable energy.

Though the investment of JRCT and Rank concluded in March 2025 we utilised these .programme resources to maintain and promote a policy interest in a Community Rights Act and promote our community engagement tool DTNI Connect for member use. The latter proved a valuable resource for communities making the case for capital investment through COF.

We continued to represent the interests of members through our participation on the Joint Forum shaping the new agreement for joint working between the voluntary and community sector and the public sector.

Our participation with the European Federation (Euro/Med) of Settlements enabled DTNI to support a delegation of members to attend the EFS Rome Youth Exchange in Italy. In this we had representation from IncredAble, Fermanagh Trust and Oh Yeah Centre, supported by DTNI. The DTNI facilitator notes.

Page 7

Development Trusts (NI) Limited Trustees’ Report

The October 2024 Youth Exchange in Rome, facilitated by ARCS , was an invaluable opportunity for young people from Northern Ireland’s VCSE sector to engage in dialogue and learning on active citizenship, migration, and solidarity alongside peers from across Europe. Over nine days of workshops, discussions, and participation in the Sabir Festival, the group explored inclusion, social justice, and intercultural cooperation in an international context, working alongside young people involved in VCSE organisations across Italy, Sweden & Finland. The experience deepened participants’ understanding of global migration issues, gender equality, and civic participation, while encouraging leadership skills and collaboration. The exchange strengthened cross-border relationships and equipped young representatives with new perspectives and skills to apply within their communities - demonstrating the benefits of international cooperation and youth engagement for local civic renewal. Finally, we continued to utilise our Facilities Management training resource and we established a new . training plarform on Financial Management and Management Accounts delivered by our financial services provider Clarke & Co.

We are thankful for the recognition from our independent investors and the faith they have shown in the work of the organisation.

Heading into 2025/26, we have committed to delivery of following work priorities.

Working with Government:

« Present the case for an NI Community Ownership Fund that will meet communities access to Capital & Revenue requirements.

¢ Engage with local government to explore common interests around wealth building, regeneration, local economy, and community rights.

Working with Partners.

« Engage and work with Locality, DTAS & DTAW to ensure that VCSE organisations from NI and DTNI members are actively supported to advance their interest in the Community Ownership Fund, and to represent on the needs of communities in NI for continued support from a COF successor fund and other UK programme opportunities.

Page 8

;

Development Trusts (NI) Limited

Trustees’ Report

Working with Members.

« Explore new support programmes for members with the UK and NI National Lottery Community Fund.

Page 9

,

:

Development Trusts (NI) Limited

Statement of Trustees’ Responsibilities

The trustees (who are also the directors of Development Trusts (NI) Limited for the purposes of company law) are responsible for preparing the trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland”. Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

,

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

Each of the persons who is a trustee at the date of approval of this report confirms that:

« they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information.

The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

Small company provisions

This 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 ...................10 Dec 2025 and signed on behalf of the board of trustees by:

Brian O'Neil Trustee

Page 10

,

;

Development Trusts (NI) Limited

Independent Auditor's Report to the Members of Development Trusts (NI) Limited

Opinion

We have audited the financial statements of Development Trusts (NI) Limited (the 'charity') for the year ended 31 March 2025, which comprise the Statement of Financial Activities, Balance Sheet, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting ; Standards, comprising Charities SORP - FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice). ,

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements 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 ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Page 11

,

Development Trusts (NI) Limited

Independent Auditor's Report to the Members of Development Trusts (NI) Limited

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we. identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: ;

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Page 12

:

Development Trusts (NI) Limited

Independent Auditor's Report to the Members of Development Trusts (NI) Limited

Auditor responsibilities for the audit of the financial statements

.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

A further description of our responsibilities is available on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Page 13

:

.

Development Trusts (NI) Limited

Independent Auditor's Report to the Members of Development Trusts (NI) Limited

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Brian Stewart

Brian Stewart (Senior Statutory Auditor) ; For and on behalf of RBCA Limited, Statutory Auditor

,

Linenhall Exchange

26 Linenhall Street Belfast BT2 8BG 10 Dec 2025 Date? oo... eeeseeeeeeeeneeees

Page 14

,

)

Development Trusts (NI) Limited

Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account)

Unrestricted Restricted Total Total
funds funds 2025 2024
Note £ £ £ £
Income and Endowments from:
Charitable activities 4 - 439,987 439,987 434,160
Other trading activities 5 7,150 - 7,150 8,925
Other income 6 6,100 13,200 19,300 53,996
Total income 13,250 453,187 466,437 497,081
Expenditure on:
Expenditure on charitable
activities 7 (26,860) (397,797) (424,657) (389,701)
Total expenditure (26,860) (397,797) (424,657) (389,701)
Net (expenditure)/income (13,610) 55,390 41,780 107,380
Transfers between funds (6,027) 6,027 - -
Reconciliation offunds
Total funds brought forward _ 293,839 138,527 432,366 324,986
Totalfundscarriedforward 13 274,202 199,944 474,146 432,366

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The funds breakdown for 2024 is shown in note 13.

The notes on pages 17 to 24 form an integral part of these financial statements. Page 15

;

Development Trusts (NI) Limited

(Registration number: NI605197) Balance Sheet as at 31 March 2025

;

2025 2024
Note £ £
Fixed assets
Tangible assets 10 2,410 6,673
,
Current assets
Debtors 11 114,823 126,478
Cash at bank and in hand 386,606 347,952
501,429 474,430
Creditors: Amounts falling due within oneyear 12 (29,693) (48,737)
Net current assets 471,736 425,693
Net assets 474,146 432,366
Funds ofthe charity:
Restricted funds 199,944 138,527
Unrestricted funds 274,202 293,839
Totalfunds 13 474,146 432,366

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The financial statements on pages 15 to 24 were approved by the trustees, and authorised for issue On .49 Bec: 2024Nd signed on their behalf by:

BrianO'Neil Trustee

The notes on pages 17 to 24 form an integral part of these financial statements. Page 16

Development Trusts (NI) Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1 General information

The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Jreland and a registered charity in Northern lreland. The address of the registered office is Cathedral Quarter Managed Work Space, 109-113 Royal Avenue, Belfast, BT1 1FF.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

Development Trusts (NI) Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going 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 amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting ‘ Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Page 17

Development Trusts (NI) Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated 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: * income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Page 18

Development Trusts (NI) Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Tangible fixed assets

All fixed assets are initially recorded at cost.

Depreciation and amortisation , Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual over the useful economic life of that asset as follows: Asset class Depreciation method and rate Fixtures, fittings and equipment 25% straight line method

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired: in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Page 19

Development Trusts (NI) Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Financial instruments

_ A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

3 Limited 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 NIC 102489.

4 Income from charitable activities

Restricted Total Total
funds 2025 2024
£ £ £
Grant - DFC 159,094 159,094 164,045
Joseph Rowntree 32,335 32,335 50,000
Community Wealth 112,054 112,054 176,500
Rank 26,385 26,385 43,615
Connectors UK 68,375 68,375 -
Shared Island 41,743 41,743 -
439,986 439,986 ' 434,160
5 Income from other trading activities
Unrestricted
funds Total Total
General funds 2024
£ £ £
Trading income
Membership 7,150 7,150 8,925
7,150 7,150 8,925

;

Page 20

Development Trusts (NI) Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

6 Other income

Unrestricted Restricted Total Total
Funds Funds Funds Funds
. 2025 2024
£ £ £ £
Other income 6,100 13,200 19,300 53,996

7 Expenditure on raising funds

Unrestricted
funds
General		 Restricted
funds		 Total
2025		 Total
2024
Note £ £ £ £
Trading costs
Project costs 24,963 173,259 198,222 168,737
Wages and salaries 1,897 199,029 200,926 199,014
Support costs - 25,509 25,509 21,950
26,860 397,797 424,657 389,701

8 Staff costs

Staff costs .

The total staff costs and employee benefits for the reporting period are analysed as follows

2025 2024
£ £
;
Wages and salaries 200,926 199,014

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:

2025 2024
No. No.
Number of administrative staff 5 5

No employee received employee benefits of more than £60,000 during the year.

Page 21

.

Development Trusts (NI) Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

9 Taxation

The charity is a registered charity and is therefore exempt from taxation.
10 Tangible fixed assets
Furniture and
equipment Total
£ £
Cost
At 1 April 2024 18,211 18,211
At 31 March 2025 18,211 18,211
Depreciation
At 1 April 2024 11,538 11,538
Charge for the year 4,263 4,263
At 31 March 2025 15,801 15,801
Net book value
At 31 March 2025 2,410 2,410
At 31 March 2024 6,673 6,673
11 Debtors
. 2025 2024
£ £
Debtors 114,823 126,478
Debtors includes receivable after more than one year.
12 Creditors: amounts falling due within one year
2025 2024
£ £
Trade creditors 23,690 37,705
Other taxation and social security 1,497 9,805
Accruals 4,506 1,227
29,693 48,737

Page 22

—

.

,

Development Trusts (NI) Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

13 Analysis of charitable Funds

Balance at Balance at
1 April Incoming Resources 31 March
2024 resources expended Transfers 2025
£ £ £ £ £
Unrestricted funds
General 293,839 13,250 (26,860) (6,027) 274,202
Restricted funds 138,527 453,187 (397,797) 6,027 199,944
Total funds 432,366 466 437 (424,657) - 474,146
Balance at . Balance at:
1 April Incoming Resources 31 March
2024 resources expended Transfers 2025
£ £ £ £ £
Unrestricted funds
General
General 293,839 13,251 (28,210) (6,027) 272,853
Restricted funds
DFC 342 159,094 (159,435) - 1
Joseph Rowntree 26,987 32,335 (51,951) - 7,371
Rank Foundation 21,294 26,385 (35,110) - 12,569
Community Wealth 89,904 112,054 (84,568) - 117,390
Connectors UK - 68,375 (20,719) 6,027 53,683
Other charitable - 13,200 (6,178) - 7,022
Shared Island - 41,743 (39,225) - 2,018
Total restricted funds 138,527 453,186 (397,186) 6,027 200,554
Total funds 432,366 466,437 (425,396) - 473,407
Balance at 1
Incoming
Resources		 Balance at 31
April 2023 resources
expended		 March 2024
£ £ £ £
Unrestricted funds
General 265,620 62,921 (34,702) 293,839
Restricted funds 59,366 434,160 (354,998) 138,527
Totalfunds 324,986 497,081 (389,701) 432,366

Page 23

.

Development Trusts (NI) Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 ~

14 Analysis of net assets between funds

14 Analysis of net assets between funds
Unrestricted Total funds
funds Restricted at 31 March
General funds 2025
£ £ £
.
Tangible fixed assets - 2,410 2,410
Current assets 303,895 197 534 501,429
Current liabilities (29,693) - (29,693)
Total net assets 274,202 199,944 474,146
Unrestricted Total funds
funds Restricted at 31 March
General funds 2024
£ £ £
Tangible fixed assets - 6,673 6,673
Current assets 342,576 131,854 474,430
Current liabilities (48,737) - (48,737)
Totalnetassets 293,839 138,527 432,366

==> picture [2 x 2] intentionally omitted <==

----- Start of picture text -----
)
----- End of picture text -----

Page 24

Development Trusts (NI) Limited

Detailed Statement of Financial Activities for the Year Ended 31 March 2025

Total Total
2025 2024
£ £
Income and Endowments from:
Charitable activities (analysed below) 439,987 434,160
Other trading activities (analysed below) 7,150 8,925
Other income (analysed below) 19,300 53,996
Total income 466,437 497,081
Expenditure on:
Raising funds (analysed below) (424,657) (389,701)
Total expenditure (424,657) (389,701)
Net income 41,780 107,380
Net movement in funds 41,780 107,380
Reconciliation offunds
Total funds brought forward , 432,366 324,986
Totalfundscarriedforward 474,146 432,366

This page does not form part of the statutory financial statements. Page 25