2025-04-01-accounts

Charity registration number NIC102524 (Northern Ireland)

Company registration number NI030558

GASYARD DEVELOPMENT TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

GASYARD DEVELOPMENT TRUST

CONTENTS

	Page
Legal and administrative information	1
Trustees’ report	2-9
Independent auditor's report	10-13
Statement of financial activities	44-15
Balance sheet	16
Notestothefinancialstatements	17-28

GASYARD DEVELOPMENT TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees	MrSean Collins (Chairperson)
	Mr Martin Connelly
	Mr David Latimer
	Mrs Sarah Harkin
	MrEmmet McCloskey	{Appointed4 May2024)
	Ms Jayne Quigg	(Appointed 20 May 2024)
Secretary	MrMartin Connelly
Centre Manager	Mrs Linda McKinney
Charity number(Northern Ireland)	NIC102524
Companynumber	NI030558
Registered office	128 LeckyRoad
	Brandywell
	Derry
	BT48 6NP
Auditor	Moore (NI} LLP
	21-23 Clarendon Street
	Derry-Londonderry
	BT48 7EP
Bankers	AIB (Nf)
	Meadowbank
	Strand Road
	Derry~Londonderry
	BT48 7TN
Solicitors	McDermott&McGurk
	12 Clarendon Street
	Derry~Londonderry
	BT487ET

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GASYARD DEVELOPMENT TRUST TRUSTEES' REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 MARCH 2025

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The trustees present their annual report and financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

Our Vision, Mission and Approach The Gasyard Development Trust's mission is to do whatever it takes to increase the capacity of residents in the Triax area in order to enhance their social, economic and educational wellbeing including developing the built environment.

Company Objectives

• The objects of the company as stated in the Memorandum of Association are: + Advancing community development by providing practical support to community and voluntary organisations in the area of benefit so as to increase their efficiency and effectiveness and to encourage such organisations to co-operate to achieve their aims;

• Advancing the arts, culture and heritage by assisting in the development of festivals, tours, exhibitions and other events and programmes and by encouraging community participation in arts and cultural activities;

• • Promoting the protection, enhancement and improvement of the built environment and the provision of public amenities;

• Advancing education and training and promoting the physical, intellectual and social development of young children;

• • Advancing health and promoting physical and mental wellbeing and participation in healthy recreation; » Developing the capacity and skills of residents of communities in the area of benefit that suffer social and economic disadvantage, in such a way that they are better able to identify, and help meet, their needs and participate more fully in society;

• « Providing facilities in the interests of social welfare for recreation and other leisure time occupations with the object of improving the conditions of life for the said inhabitants;

• • Promoting equality and diversity and religious and racial harmony by encouraging participation in a range of inclusive and accessible programmes, which strive to bring together all sections of the community;

• « Promoting social enterprise and such other charitable purposes as may from time to time be determined; + Promoting co-operation and partnership working between community and voluntary groups, public and statutory agencies and bodies and private sector organisations to help achieve these Objects.

Core Values and Beliefs

In addition to our company objectives, the following highlights the work of the Gasyard Development Trust (GDT):

• • Advancing arts, culture and heritage GDT is committed to advancing arts, culture and heritage by making it easily assessable to the residents of the Triax area whilst respecting all cultural beliefs and heritage.

• » Social justice, equality and diversity

• GDT is committed to equality, justice and promoting diversity in order to address poverty and exclusion.

• » Community infrastructure Improvement GDT is committed to promoting the enhancement and improvement of the built environment and the provision of public amenities.

• • Partnership and collaboration GDT is committed to partnership working and through a community development approach to enhance the capacity and skills of residents.

• e Community investment and regeneration

• GDT is committed to promoting social enterprise and economic sustainability in the Triax communities.

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GASYARD DEVELOPMENT TRUST TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Qur Purpose The Gasyard Development Trust was set up in 1996 to construct a Neighbourhood Cultural Centre. Completion in 2001 enabled the Trust to provide a wide range of services both directly and indirectly for the community in the Bogside, Brandywell and surrounding areas. In-house projects, Bluebell Arts Project and the Children’s Centre deliver much-needed programmes and services to the local community. GDT as a project has a mix of roles — project deliverer, landiord, and facilities provider. The organisation helps to promote, in a strategic way, community and economic regeneration in partnership with other local groups, local schools and the private and statutory sectors.

Public benefit

The Organisation is working exclusively for the local community, developing bespoke and creative programmes and activities for those suffering multiple levels of deprivation to reverse decline and create sustainable communities is at the forefront of our work as we meet our objectives. Our mission is to do whatever it takes to increase the capacity of residents in the Triax area in order to enhance their social, economic and educational wellbeing including developing the built environment.

It is further evidenced by noble indicators informing us that we have moved from 8th te 44th place for the areas with the highest level of multiple deprivations. While we still remain within the top 10 deprived areas in NI for having the highest levels of multiple deprivation, we are beginning to see the positive outcomes of how our partnership approach to developing the area is being achieved.

Private benefit

We do not provide any individual with a private benefit. Our directors may attend our programme but access these in the same way as others do, and, during our annual arts exhibition some of the artists attending may have sold some artwork and increased their profile. Any private benefit is incidental to providing members of the community with ihe opportunity to increase their skills base and knowledge, increase their appreciation and understanding of tocal arts projects or to enhance their quality of life.

Beneficiaries

While a number of our activities and programmes are targeted for the benefit of Derry City residents’ beneficiaries are mainly from the Bogside, Brandywell, Bishop Street, Fountain and Creggan communities. Programmes targeting city wide residents are focused on those most vulnerable including children with disabilities, older people with disabilities or those who have alcoho! or drug addictions.

Restrictions on who can benefit

There are no restrictions that prevent beneficiaries from accessing our programme. Our centre has full disabled access with onsite car parking available, has had a disability audit with recommendations being carried out as per feedback, is an every customer counts advocator, ASD friendly and has received the Covid-19 Reassurance Mark. All targeted programmes designed to upskill or remove community isolation have no associated fees with nominal donations applicable for some activities. All staff have received additional training in ASD Awareness, Safe Talk, Listening Ear, Sign Language Training and Health and Safety training.

Trustees Statement of Compliance

In setting our objectives and planning our activities for the year the trustees have given careful consideration to the Charity Commission for Northem Ireland's guidance on public benefit to ensure that the activities have helped to achieve the charity's purposes and provide a benefit to the beneficiaries.

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GASYARD DEVELOPMENT TRUST TRUSTEES' REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 A Achievements and performance Significant activities and achievements against objectives The was a landmark year for Gasyard Development Trust, with the successful completion of our £2.8 million capital redevelopment. This investment delivered a newly refurbished community hub, including the opening of the Peacemakers Museum and the creation of key new facilities that included a Family Room, Sensory Room, Podcast Room, and dedicated Arts Rooms within the Centre.

Over the course of the year, GDT also launched a new £150,000 Reconnect Programme, funded by TEO through the Urban Villages Programme. This sits alongside the continued growth of Wildflower Studios and the Bluebell Arts programme, helping position GDT as a arts and cultural anchor in the city.

Private-sector conferencing and bookings increased significantly as local businesses began to view the Gasyard as a top-tier event and training venue.

Key new facilities created in this period included the Family Room, Sensory Room, Podcast Room, and Arts Room, all of which have been fully integrated into community programming.

The Peacemakers Museum launched in 2024, drawing significant local and cross-border interest, and forming the cornerstone of GDT’s long-term cultural tourism and education strategy.

Arts delivery expanded significantly through the Bluebell Arts Programme and the Wildflower Studios brand, delivering programmes in drama, dance, pottery, creative writing, spoken word and neurodiverse inclusion.

A major development this year was the strategic closure of the Afterschools Club. This decision was informed by several factors, including the opportunity to repurpose the space to better meet the needs of local families through a new partnership with SureStari Edenballymore.

The Afterschools Club, while successful, had evolved into a citywide service with a limited proportion of participants coming from the immediate Bogside, Brandywell, and Fountain areas — the communities the Gasyard Centre was originally established to serve. By contrast, the new SureStart Family Centre model offers direct, early years and parental support to local families, ensuring stronger alignment with GDT’s community development objectives and the priorities of the Triax Neighbourhood Renewal Action Plan.

All existing staff were successfully redeployed within GDT’s wider programme delivery, ensuring no loss of employment. The reduced Afterschool's revenue has been replaced by increased rental income from SureStart, ensuring the long-term financial sustainability of the Centre while maintaining its focus on community benefit and local engagement.

In total, GDT delivered over 1,300 programme sessions engaging more than 43,000 beneficiaries across arts, heritage, health and wellbeing, community safety, and good relations outcomes.

Gasyard Landlord and Parinership Role GDT provides support to its tenants within the building that include the Bogside & Brandywell Initiative, Success Northwest Project, Surestart Edenballymore and Hive Cancer Support Group to deliver much needed services to the local people. They are an integral part of our strong and vibrant community infrastructure here at the Gasyard Centre. Another tenant is Gaelscoil Eadain Mhoir who have been very successful in delivering very high-quality primary education through the medium of the Irish language to local children. We have continued to work in partnership with other community organisations to support the personal and social development of local residents, community workers and project volunteers. This support comes in different forms including management and HR support, governance training or access to first class facilities.

Through our social media platforms, we reached 269,952 people. We are making a real difference, even with our limited resources and during the post pandemic times in one of the most deprived districts in Northern freland. The difference GDT makes to the communities of the Triax area are further substantiated by the levels of multiple deprivation increasing from 8 out of 890 wards to 44 out of a of 890 wards. Whilst this increase should be viewed as a success, the area is still within the top 10% in NI suffering multiple deprivations and a lot more work is required to develop the economic and social regeneration of this area, with the ultimate aim of improving the tives of the local community. ii CT

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GASYARD DEVELOPMENT TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

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Table of Activities for the Year

essions	beneficiaries eedback
Children’s services including After484sessions Schools Club and Surestart Edenballymore including, homewor club, Sign Language Classes, music,	[178 children
drama, cooking w/s, creative art activitiesetc	‘each child was heard and listened to.’
Training, Volunteering & Educationi68 sessions including, event management, H&S, Business & Admin Diploma, Community Development Diploma, First Aid, ASD Awareness, Mental Health & Well-being, Defib Training, Manual Handling, Social Media, Italian] Classes, Mentoring Minds OCN,	04 peoplel'the way my mentor supported ipenefiting perme was the reason
Health& Social Care OCN Dance programme including Hip Hop,j700 Street Dance, Contemporary Dance,sessions Irish Dancing and Salsa.	398 people] love coming to the Gasyard benefiting fromjand meeting my friends before inhouse dancelwe gotothedance studio’ activities
	't can’t dance very well bu
	coming here is making me so
	nappy’
Bluebell’ Flip It! Arts programme420 including creative writing, equine herapy, music therapy, book clubs, holistic therapies, music lessons craft making, quilting, soft furnishing, crochet, sculpture, painting, storytelling, arts and crafts, drama, music,	1,363 people
eodcarving, carnival, circus skills, silver sculpting, printing, pottery, drama land productions. MentoringandSupportProgramme	street inerformances and online activities 8 people
	and work
	placements

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GASYARD DEVELOPMENT TRUST

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Programme ofActivity		Number	ofNumber	ofNumber	ofiDetail differences made as pe
		essions		beneficiaries	‘eedback
Community Support & Social Inclusion	27				12,500
Programme to include	conferences,				thatwe love coming to’.
fundays (Roaring Meg	Bike	Show,
Christmas showcase, Halloween		famil
fun day, St Patricks Family Fun day
and crisis interventions
		otal Sessions		[Total
		1,799		Beneficiaries
				4,751

Financial review

Total income for the year was £497,793, of which £327,940 was generated from grant funding of programmes and capital build costs, £113,578 from rental income and £56,275 from class fees income.

Total expenditure by the charity was £621,197, which was incurred undertaking activities that further our charitable aims for the benefit of our beneficiaries. This includes one off costs in respect of events and activities to mark the opening of the Peacemakers Museum on completion of refurbishment works.

The Trustees have released £30,000 from the Building Fund within designated funds to unrestricted funds, set aside for maintenance costs for the Gasyard Heritage and Exhibition Centre, in respect of costs incurred during 2024/25.

The balance on total funds at the year-end was £2,867,073, of which £57,385 were unrestricted, £40,000 were designated and £2,769,688 were restricted.

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been mainiained throughout the year.

The Board of Directors has examined the charity's requirements for reserves in light of the main risks to the organisation. it has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be at least 6 to 12 months of unrestricted expenditure. The board consider the unrestricted reserves target at the reporting date should be set between £38,075 and £76,151. The reserves are needed to meet the working capital requirements of the charity and the directors are confident that at this level they would be able to continue the current activities of the charity in the event of a significant drop in funding.

The board continue to monitor and review the funds held to ensure that the existing and future charitable activities of the organisation can be funded from its resources.

Major risks

The Directors are aware of the major risks to which the group is exposed. Systems and procedures have been established to mitigate the risks the group faces. Internal control risks are minimised through the procedures for authorisation of all transactions and projects, Procedures are periodically reviewed to ensure that they continue to meet the needs of the group. Procedures are also in place to ensure compliance with health and safety of staff, volunteers and users to our centre.

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GASYARD DEVELOPMENT TRUST

TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

How the charity has mitigated potential harm

We follow best practice in ensuring our facility meets all the legal requirements necessary to offset any potential hazards. We have policies and procedure that are strictly adhered to and updated annually. Cleaning equipment is chemical free and stored in a locked room. Protective clothing is provided as needed. Child Protection training and procedures are ongoing with qualified and designated staff ratios maintained, restricted access to the Children’s Centre and relevant training provided. Our Centre has full disabled access with staff adequately trained to support and signpost if necessary. Our Maintenance Officer carries out a daily risk assessment in the building, fire alarm checks, firefighting equipment checks, and individual risk assessmenis are carried out prior to programme implementation with identified risks removed.

The following heaith and safety inspections tests and drills were carries out this year.

1. PAT testing of all electrical equipment.

2. Fire Fighting Equipment annual inspection

3. Annual Gas Inspection

4. Event Management and Risk Assessment Plan

Plans for future periods

Looking forward, our Strategic Plan (2025-2030) sets a clear course for the development of a Youth Arts Centre in partnership with the Education Authority, enhanced cultural tourism offerings, and new employability and enterprise pathways for our community. Gasyard Development Trust will continue to build on its strong foundation of capital investment, cultural infrastructure and community leadership. Key priorities for the coming period include:

1. Development of a dedicated Youth Arts Centre in partnership with the Education Authority.

2. Expansion of employability and creative enterprise pathways through Wildflower Studios.

3. Increased cultural tourism and outreach through the Peacemakers Museum and city-wide heritage programmes,

4. Scaling up of women’s leadership and skills development through continued delivery of the DfC Women’s Programme.

5. Deepening trauma-informed practice and community resilience across alf delivery areas.

6. Enhancing the environmental sustainability of the Gasyard Centre through future retrofit planning.

GDT remains committed to its core mission: to support the regeneration of the Bogside, Brandyweil and Fountain communities by creating opportunities in arts, culture, education and economic development.

Structure, governance and management Governing Document

The organisation is a charitable company limited by guarantee, incorporated in Northern Ireland on 4th March 1996 and is recognised as a charity by the NI Charities Commission. The governing document is a Memorandum and Aniicles of Association.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr Sean Collins (Chairperson)

Mrs Joyce Logue (Resigned 19 September 2025) Mr Martin Connelly Mr David Latimer Mrs Sarah Harkin Mr Emmet McCloskey (Appointed 4 May 2024) Ms Jayne Quigg (Appointed 20 May 2024}

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GASYARD DEVELOPMENT TRUST TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 env

Recruitment and appointment of trustees

The present board of directors was approved by the membership at their Annual General Meeting. They meet bimonthly in the Gasyard Centre and evaluate the operations and finances of the organisation.

The Board of Trustees manages the process of recruitment and appointment of Trustees, and may admit to membership any person interested in promoting the objects (primary purpose) of the charity. A member may withdraw from the company by giving notice to the Charity.

Organisational structure

The Board of Trustees has overall legal responsibility for the charity. The day-to-day operations and decisionmaking continue to be delegated to a Senior Management Team, led by Centre Manager Linda McKinney, who report directly to the Board. There are robust reporting structures in place throughout the organisation. The Senior Management Team is made up as follows:

Linda McKinney - Centre Manager

Dearbhia Wilson - Finance & Admin Co-ordinator Michael Cooper- History Project Co-ordinator Elaine Cusack - Afterschool's Club Co-ordinator Frank Rafferty - Gasyard Bluebell Arts Project Co-ordinator

Other maiters

Employee involvement and employment of the disabled Employees have been consulted on issues of concern to them and have been kept informed on specific matters directly by the board. In accordance with the charity’s equal opportunity, the charity has established fair employment practices in the recruitment, selection, retention and training of staff.

Statement of trustees’ responsibilities

The trustees, who are also the directors of Gasyard Development Trust for the purpose 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).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

In accordance with the company's articles, a resolution proposing that Moore (NI) LLP be reappointed as auditor of the company will be put at a General Meeting.

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GASYARD DEVELOPMENT TRUST

TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Disclosure of information fo auditar

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware, They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees’ report was approved by the Board of Trustees.

Mr Sean Collins (Chairperson) Trustee

18 December 2025

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GASYARD DEVELOPMENT TRUST

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF GASYARD DEVELOPMENT TRUST eeieA

Opinion

We have audited the financial statements of Gasyard Development Trust (the ‘charity’) for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of treland (United Kingdom Generally Accepted Accounting Practice). in our opinion, the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Aci 2006.

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's 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 financial statements are 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. Other information The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Opinions on other matters prescribed by the Companies Act 2006

• In our opinion, based on the work undertaken in the course of our audit: - the information given in the trustees’ report for the financial year for which the financial statements are prepared, which includes the directors’ report prepared for the purposes of company law, is consistent with the financial statements; and

• • the directors’ report included within the trustees' report has been prepared in accordance with applicable legal requirements.

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GASYARD DEVELOPMENT TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF GASYARD DEVELOPMENT TRUST annnOnSUIIETTTT

Matters on which we are required to report by exception In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

• We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ~ adequate accounting records have not been kept, ar retums adequate for our audit have not been received from branches not visited by us; or

• • the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees’ remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report.

Responsibilities of trustees As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, 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 trusiees 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 charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 aggregaie, they could reasonably be expected to influence ihe economic decisions of users taken on the basis of these financial statements.

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

Extent to which the audit was considered capable of detecting irregularities, including fraud The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company.

Based on our understanding of the charitable company and its operating environment, we determined that the most significant frameworks which have a direct impact on the preparation of the financial statements are those related fo the reporting framework, (FRS 102, the Charities Act (Northern ireland) 2008, The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015, the Charity SORP and the Companies Act 2006) of which non-compliance may have a material effect on the financial statements. Compliance with these laws and regulations was assessed as part of our procedures.

Other laws and regulations of which non-compliance may have a material effect on the financial statements, e.g. through fines or litigation, were identified such as regulations in relation to employment law. Our required procedures in these areas are limited to inquiry of trustees and other management and inspection of any regulatory or legal correspondence. These limited procedures did not identify any actual or suspected non-compliance.

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GASYARD DEVELOPMENT TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF GASYARD DEVELOPMENT TRUST

We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including how fraud might occur, including evaluating management's incentives and opportunities to manage earnings or influence the reported results. From the results of our assessment, we determined that the principal risks of fraud relate to posting inappropriate journal entries and use of charity funds for purposes outside of restrictions imposed by the donor, In common with all audits under JSAs (UK), we are required to perform specific procedures to respond to the risk of management override.

Audit response to risks identified

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. Audit procedures performed by the engagement team included:

• • We obtained an understanding of the charitable company's internal control systems in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the charitable company's internal control.

• » We obtained an understanding of how the charitable company complies with relevant laws and regulations, including those as a result of its registration with the Charity Commission for Northern Ireland and charitable status with HM Revenue & Customs , by making enquiries of management and those charged with governance.

• • Enquiry of management, those charged with govemance and the entity's solicitors around actual and potential litigation and claims.
• • Enquiry of entity staff to identify any instances of non-compliance with laws and regulations.
• • Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
• • Reviewing minutes of meetings of those charged with governance.
• • Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

• « We test the completeness of income to address the risk of fraud in revenue recognition. + Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions that are unusual or outside the normal course of business.

• • Auditing the risk of use of charity funds outside of restrictions imposed by the donor by review of funding letters of offer to identify restrictions, and review of funding claims prepared by management to check compliance with restrictions.

We communicated relevant laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the evenis and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the sisk of not detecting one resulting from error, as fraud may involve deliberate concealment through collusion, forgery, intentional omissions, misrepresentations or the override of internal control.

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

Use of our report

This report is made solely to the charitable company's members, 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 charitable company's members 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 the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

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GASYARD DEVELOPMENT TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF GASYARD DEVELOPMENT TRUST ee BsOY ne

Far and on behalf of Moore (NI) LLP, Statutory Auditor Chartered Accountants 21-23 Clarendon Street Derry-Londonderry BT48 7EP 418 December 2025

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GASYARD DEVELOPMENT TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 20252025	FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 20252025	FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 20252025	FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 20252025	FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 20252025	FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 20252025	FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 20252025
tlt
Currentfinancialyear		Unrestricted	Unrestricted	Restricted	Total	Total
		funds	funds	funds
		general	designated
		2025	2025	2025	2025	2024
	Notes	£	£	z	£	£
Income from:
Donationsand legacies	3	-	-	-	-	2,310
Charitable activities	4	169,853	-	327,940	497,793	1,563,874
Total income		169,853	-	327,940	497,793	1,566,184
Expenditure on:
Charitable activities	5	261,878	-	359,319	621,197	489,157
Total expenditure		261,878	-	359,319	621,197	489,157
Netincome/(expenditure)		(92,625)	-	(31,379)	(123,404)	4,077,027
Transfers between funds		30,000	(30,000)	-	-	-
Netmovement infunds	6	(62,025)	(30,000)	(314,379)	(123,404)	4,077,027
Reconciliation offunds:
Fund balances at 4 April 2024		119,410	70,000	2,801 ,067	2,990,477	1,913,450
Fundbalancesat31March2025		57,385	40,000	2,768,688	2,867,073	2,990,477

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

entt ht A -14-

GASYARD DEVELOPMENT TRUST

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

en	en	en	en	en	en
Priorfinancial year		Unrestricted	Unrestricted	Restricted	Total
		funds	funds	funds
		general	designated
		2024	2024	2024	2024
	Notes	£	£	£	£
Income from:
Donations and legacies	3	2,310	-	-	2,310
Charitable activities	4	164,662	-	1,399,212	1,563,874
Tota! income		166,972	-	1,399,212	4,566,184
Expenditure on:
Charitable activities	§	173,239	-	315,918	489,157
Total expenditure		173,239	-	315,918	489,157
Netincome/(expenditure)		(6,267)	-	1,083,294	1,077,027
Transfers between funds		(15,000)	15,000	-	-
Netmovement in funds	6	(21,267)	15,000	41,083,294	4,077,027
Reconciliation offunds:
Fund balances at 1 April 2023		140,677	55,000	1,717,773	1,913,450
Fundbalancesat34March2024		419,410	70,000	2,801,067	2,990,477

~15-

GASYARD DEVELOPMENT TRUST

BALANCE SHEET

AS AT 31 MARCH 2025

AS AT 31AT 3131 MARCH 2025	AS AT 31AT 3131 MARCH 2025	AS AT 31AT 3131 MARCH 2025	AS AT 31AT 3131 MARCH 2025	AS AT 31AT 3131 MARCH 2025	AS AT 31AT 3131 MARCH 2025
i i tt tg
		2025			2024
	Notes	£	£	£	£
Fixed assets
Tangible assets	10		2,731,190		2,824,209
Current assets
Debtors	4	29,378		151,761
Cash atbankand in hand		168,190		418,304
		197,568		270,065
Creditors: amounts falling duewithin oneyear	13	(61,685)		{103,797}
Netcurrentassets			135,883		166,268
Total assets less current liabilities			2,867,073		2,990,477
Thefunds ofthe charity
Restricted incomefunds	15		2,769,688		2,801,067
Unrestricted funds -general	17		57,385		119,410
Unrestricted funds -designated	16		40,000		76,000
			2,867,073		2,990,477

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

The financlal statements were approved by the trustees on 18 December 2025

MrSean Collins (Chairperson)	Mr Martin Connelly
Trustee	Trustee

Company registration number NI030558 (Northern ireland)

a -16-

GASYARD DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

itt

1 Accounting policies

Charity information Gasyard Development Trust is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 128 Lecky Road, Brandywell, Derry, BT48 6NP.

4.1 Basis of preparation The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP “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 402)". The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

• The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

• 4.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

• 4.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose which would otherwise form part of the general reserve of the charity. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

• 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

a -~i7-

GASYARD DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 37 MARCH 2025

• 1 Accounting policies

(Continued)

4.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the arnount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings 4% reducing balance Fixtures and fittings 15% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

Expenditure on minor items of equipment, fixtures, fittings and furnishings is written off in the year in which itis incurred.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

• 4.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financia! instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financiat assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

~18-

GASYARD DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 peA I 4 Accounting policies (Continued)

Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

• 1.141 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods,

ItI -19-

GASYARD DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025 ttA AS

3 Income from donations and legacies

				Unrestricted Unrestricted	Unrestricted Unrestricted	Unrestricted Unrestricted
					funds	funds
					2025	2024
					z£	£
Donationsandgifts					-	2,310
Incomefrom charitable	activities
	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	funds	funds		funds	funds
	2025	2025	2025	2024	2024	2024
	£	£	£	£E	£	£
Charitable activities
Grant funding for programmes Rental income Classfees income	- 113,578 56,275	327,940 - -	327,940 113,578 56,275	- 95,864 68,798	1,399,212 - -	1,399,212 95,864 68,798
	169,853	327,940	497,793	464,662	1,399,212	1,563,874

• 4 Income from charitable activities

Performance related grants analysis

	Charitable activities	Charitable activities
	2025	2024
	£	£
The Executive Office Heritage LotteryFund DepartmentforCommunities Arts Council ofNorthern Ireland DerryCity&Strabane DistrictCouncil BBCChildren inNeed Future Screens Ni Success NorthWest AwardsforAll Halifax Other	37,423 - 78,736 36,595 17,100 24,928 21,038 61,135 49,395 - 31,590	892,527 249,959 79,054 36,595 41,970 38,904 21,273 - 9,995 4,000 24,935
	327,940	4,399,212

iat -20-

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

GASYARD DEVELOPMENT TRUST

4 Income from charitable activities

(Continued)

Grant funding received from The Executive Office (TEO) in 2024 represents capital funding that is managed by Derry City & Strabane District Council (DCSDC) to construct a new front of house café, meeting rooms and enhanced entrance to the Gasyard Centre, alongside refurbishment works to the existing premises. All capital funding from TEO has been paid directly to DCSDC who are administering the capital build project on behalf of the Gasyard Development Trust.

5 Expenditure on charitable activities

==> picture [437 x 378] intentionally omitted <==

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Charitable|Charitable| |activities|activities| |2025|2024| |£|£| |Direct|costs| |Staff costs|311,106|274,353| |Depreciation|and|impairment|93,019|31,741| |Programme|costs|40,924|34,184| |Facilitator fees|39,904|43,684| |Insurance|8,443|7,450| |Property|rates|and|utilities|47,026|22,642| |Repairs|and|maintenance|36,509|23,056| |Office and|administration|costs|21,474|30,755| |Transport|expenses|2,516|2,382| |Accountancy|300|5,600| |Legal|and|professional|fees|§,527|3,400| |Bank|interest and|charges|4,043|4,014| |General|expenses|13,406|41,899| |621,197|489,157| |Analysis|by fund| |Unrestricted|funds|- general|261,878|173,239| |Restricted|funds|359,319|315,918| |621,197|489,157| |6|Net movement|in|funds|2025|2024| |£|£| |The|net movement|in funds|is|stated|after charging/(crediting):| |Fees|payable|for the|audit of the|charity's|financial|statements|4,500|4,250| |Depreciation|of owned|tangible|fixed|assets|93,019|31,741|

----- End of picture text -----

~24-

ettt

GASYARD DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

8 Employees

Theaveragemonthlynumberofemployeesduringtheyear was:	2025	2024
	Number	Number
	17	13
Employmentcosts	2025 £	2024 £
Wagesandsalaries Social securitycosts Otherpension costs	291,019 14,924 5,163	256,604 13,594 4,158
	311,106	274,353

There were no employees whose annual remuneration was more than £60,000.

9 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

10 Tangible fixed assets

Tangiblefixedassets
Tangible fixed assets	Leasehold	Fixtures and	Total
	land and	fittings
	buildings
	£	£	£
Cost
At 1 April2024	5,089,897	272,518	5,362,415
At31 March 2025	5,089,897	272,518	5,362,415
Depreciation and impairment At 1 April 2024 Depreciation charged intheyear	2,373,131 79,446	165,075 13,573	2,538,206 93,019
At 31 March2025	2,452,577	178,648	2,631,225
Carrying amount At31 March 2025	2,637,320	93,870	2,731,190
At31March2024	2,716,766	407,443	2,824,209

iet -29 »

GASYARD DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

iA A AT 10 Tangible fixed assets (Continued)

The Gasyard centre is situated on land owned by Derry City Council and Gasyard Development Trust Limited have a long term lease for use of the land. The lease commenced on 31st December 2002 and runs for a period of 99 years.

The Executive Office has provided financial assistance for the refurbishment works at the Gasyard Heritage & Exhibition Centre and has taken a legal charge over the specified land and building as security for a 25 year period effective from 9th March 2023.

Refurbishment works at the Gasyard Heritage & Exhibition Centre were completed during the year and the Centre reopened to the public on 22 July 2024. Depreciation has been charged on the associated capital expenditure from this date.

==> picture [444 x 410] intentionally omitted <==

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |11.|Debtors|2025|2024| |Amounts falling due within one year:|£|£| |Trade debtors|18,936|149,044| |Other debtors|16,442|2,717| |23,378|151,761| |12|Loans and overdrafts|2025|2024| |£|£| |Other loans|45,000|50,000| |Payable within one year|45,000|50,000| |13|Creditors: amounts falling due within one year|2025|2024| |£|£| |Borrowings|45,000|50,600| |Other taxation and social|security|4,977|479| |Trade|creditors|§,417|47,409| |Accruals and|deferred|income|6,291|5,909| |61,685|103,797| |14|Retirement|benefit schemes|2025|2024| |Defined|contribution|schemes|£|£| |Charge|to|profit or loss|in respect of defined contribution schemes|5,163|4,158|

----- End of picture text -----

i -~-23-

GASYARD DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

nt

14 Retirement benefit schemes

(Continued)

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

15 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

	At 1 April	Incoming	Resources	At 31 March
	2024	resources	expended	2025
	£	£	g	£
DepartmentforCommunities - capital funding	535,349	-	(20,998)	574,351
The Executive Office - capitalfunding	1,918,117	-	(51,150)	1,866,967
Heritage Lottery Fund - capital funding DCSDC- capitalfunding Department forCommunities	239,501 41,385 -	- - 78,736	(6,330) (1,939) (73,436)	233,171 39,446 §,300
DCSDC	-	17,106	(17,100)	-
Future Screens NI	5,178	21,038	(26,216)	-
Arts Council NI	16,272	36,595	(41,797}	11,070
BBC Children in Need	5,665	24,928	(30,593)	-
Community Fund Awards forAll	9,624	49,395	(9,624)	19,395
Success NorthWest	-	61,135	(42,367)	18,768
Depariment for Communities - Heritage Café - capital funding The Executive Office -Urban Villages	29,976 -	“ 37,423	(2,997) (3,182)	26,979 34,241
NI Housing Executive -Social Enterprise	-	16,000	(10,000)	-
Art Fund	-	10,000	(10,000)	.
Grants forprogrammes	-	711,590	(11,590)	-
	2,801,067	327,940	(359,319)	2,769,688

~24-

GASYARD DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 20252025	FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 20252025	FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 20252025	FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 20252025	FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 20252025	FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 20252025
i
15	Restricted funds				(Continued)
	Previousyear:	At 1 April 2023	Incoming resources	Resources expended	At 37 March 2024
		£	£	£	£
	Depariment forCommunities -capitalfunding The Executive Office - capital funding Heritage Lottery Fund -capitalfunding DCSDC- capitalfunding DepartmentforCommunities DCSDC	557,221 1,025,590 67,411 30,000 - -	- 892,527 472,090 11,385 49,078 30,585	(21,872) - - - (49,078) (30,585)	535,349 1,918,117 239,501 41,385 - :
	FutureScreens NI	4,777	21,273	(20,872)	5,178
	Arts CouncilNi	15,992	36,595	(36,315)	16,272
	BBC Children in Need	5,667	38,904	(38,906)	5,665
	Halifax The Community Foundation Community Fund AwardsforAlt Heritage LotteryFund SuccessNW	- 5,615 - §,500 -	4,000 - 9,995 77,868 8,520	(4,000) (5,615) (371} (83,369) (8,520)	- - 9,624 - -
	Department forCommunities -HeritageCafe Grantsforprogrammes	- -	29,976 16,415	- (16,415)	29,976 -
		1,717,773	1,399,212	(315,918)	2,804067

aeee -25-

GASYARD DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 371 MARCH 2025

NES

15 Restricted funds

(Continued)

Nature of material restricted funds

Department for Communities - capital funding Capital funding received in 2015. The balance is equivalent to the depreciated historical cost of the assets funded. A sum equivalent to the depreciation charge on the assets will be allocated each year to the fund, in accordance with the depreciation policy until it is fully amortised.

The Executive Office - capital funding

Capital funding received from The Executive Office (TEO) that is managed by Derry City & Strabane District Council (DCSDC) to construct a new front of house café, meeting rooms and enhanced entrance to the Gasyard Centre, alongside refurbishment works to the existing premises. All capital funding from TEO has been paid directly to DCSDC who are administering the capital buifd project on behalf of the Gasyard Development Trust.

Heritage Lottery Fund - capital funding Funding in the amount of £250k for "The Bogside - the Crucible of the Peace Process" project from January 2020 - January 2023 towards History Co-ordinator staff costs and related programme costs. Funding amount also includes £87,911 capital funding towards the Peace Museum refurbishment works.

Derry City & Strabane District Council - capital funding

Capital funding of £15,000 towards the Peace Museum refurbishment works and £11,385 towards cost of an intercom system for the museum.

Department for Communities - Heritage Café

Capital funding of £29,976 towards the cost of a café at the Gasyard Centre.

Arts Council for Northern Ireland

Funding towards the costs of providing the Bluebell Arts Derry Community Aris programme.

Derry City & Strabane District Council

Funding towards the costs of providing the Cultural Organisations programme.

BBC Children in Need Three year grant towards salary costs for a part time project co-ordinator, part time support worker and associated organisational costs.

Euture Screens Ni Funding towards salary costs associated with the Art Work Employment and Skills Initiative for the Arts Sector in Northern Ireland.

Department for Communities

Current year funding represents core salaries funding for the Centre Manager and Finance & Administration Officer positions and running costs of the Gasyard.

Community Fund - Awards for All Arts programme to include salary and management accounts.

Success North West Contribution towards salary costs for Finance Office.

The Executive Office - Urban Villages

Funding secured to deliver a post construction Reconnect Arts and Wellbeing Programme alongside management costs.

~ 26 -

GASYARD DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

16 Unrestricted funds - designated

These are unrestricted funds which are material 10 the charity's activities.

	At 1 April	Transfers	At 31 March
	2024		2025
	£	£	£
EmploymentObligations Fund	46,000	-	40,000
Building Fund	36,000	(30,000)	-
	70,000	(30,000)	40,000
Previous year:	At 1 April 2023	Transfers	At31 March 2024
	£	£	£
EmploymentObligations Fund	40,000	-	40,000
Building Fund	45,000	15,000	30,000
	55,000	45,000	70,000

The income funds of the charity include the following designated funds which have been set aside out of the unrestricted funds by the directors for specific purposes:

Employment Obligations Designated Fund

The Trustees have set aside £40,000 within this fund for potential redundancy liabilities and other employment costs. This was deemed to be sufficient provision as at 31 March 2025 and will continue to be reviewed annually.

Building Fund

A new building fund was established during 2021 with an initial transfer of £15,000 from unrestricted funds. A further £15,000 provision was made in the year ended 31 March 2024 in respect of maintenance costs for the upkeep of the Gasyard Heritage and Exhibition Centre. This fund was released in full to unrestricted reserves during the year in respect of repairs and maintenance costs incurred.

17 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

		At 1 April	Incoming	Resources	Transfers	At 37 March
		2024	resources	expended		2025
		£	£	“£	£	£
General	funds	119,410	169,853	{261,878}	30,000	57,385

~27-

GASYARD DEVELOPMENT TRUST

NOTESTOTHE FINANCIALSTATEMENTS (CONTINUED)	NOTESTOTHE FINANCIALSTATEMENTS (CONTINUED)	NOTESTOTHE FINANCIALSTATEMENTS (CONTINUED)	NOTESTOTHE FINANCIALSTATEMENTS (CONTINUED)	NOTESTOTHE FINANCIALSTATEMENTS (CONTINUED)
FOR	THEYEARENDED 37	MARCH 2025
ee			Errno
17	Unrestrictedfunds					(Continued)
	Previousyear:	At 1 April 2023	Incoming resources	Resources expended	Transfers	At31 March 2024
		£	£	£	£	£
	General funds	140,677	166,972	(173,239)	(15,000)	149,410
18	Analysis ofnetassets between funds
			Unrestricted	Unrestricted	Restricted	Total
			funds	funds	funds
			general	designated
			2025	2025	2025	2025
			g	£	£	£
	At 31 March 2025:
	Tangible assets Current assets/(liabilities)		50,276 7,109	- 40,000	2,680,914 88,774	2,731,190 135,883
			57,385	40,000	2,769,688	2,867,073
			Unrestricted	Unrestricted	Restricted	Total
			funds	funds	funds
			general	designated
			2024	2024	2024	2024
			£	£	£	£
	At 31 March 2024:
	Tangibleassets Currentassets/(liabilities)		59,881 59,529	- 70,000	2,764,328 36,739	2,824,209 166,268
			419,410	70,000	2,801,087	2,990,477

49 Financial commitments, guarantees and contingent liabilities

Gasyard Development Trust has received grant assistance from government, public and other bodies, The payment of these grants is made subject to certain conditions being fulfilled by the company. The directors consider these conditions will be satisfactorily fulfilled and the likelihood of the company having to repay any grant is remote.

20 Events after the reporting date

There have been no significant events affecting the charity since the year end.

21 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

Iet ~28-