Company Registration Number: N1025913
Charity Reglstratlon Number: 102966
Techno Tyrone Limited
(Charitable Company Limited by Guarantee)
Annual Report and Unaudited Financial Statements
For the year ended 31 December 2023
CavanaghKelly
Chartered Accountants
36- 38 Northland Row
Dungannon
BT71 6AP

Techno T
ri
rone Limited
om
an
Limit d
Guarantee
CONTENTS
For the
ear ended 31 Dec
Page
General Information
Directors, Report
Independent Examiner's Report
statement of Financial Activities
Statement of Financial Position
9-10
Notes to the Financial Statements
11-21
CavanaghKelly. Chartered Accountants & Statutory Auditors
Page I

Techno Tyrone Limited
Charitable Com
an
Limited b Guarantee
GENERAL INFORMATION
Board of Dlrectors
James Maguire
Gerard Keyes
Shauna Rooney
Company Secretary
James Maguire
Registered Office
The Milestone Centre
Termon Business Park
Carrickmore
Co Tyrone
BT79 9AL
Company Registration Number N1025913
Charity Registration Number
102966
Independent Examiners
Cavanagh Kelly
36-38 Northland Row
Dungannon
Co Tyrone
BT71 6AP
Bankers
First Trust Bank
8 High Street
Omagh
Co Tyrone
BT78 IBH
Solicitors
Rafferty & Donaghy Limited
2 Donaghmore Road
Dungannon
Co Tyrone
BT70 IEZ
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 2

Techno Tyrone Limited
Charitable Com
Limited b Guarantee
DIRECTORS, REPORT for the
ear ended 31 Decemb
The Directors, who are the trustees for the purpose of charity law, have pleasure in presenting
their report and the unaudited financial statements of the charitable company for the year
ended 31 December 2023.
The financial statements have been prepared in accordance with the Statement of
Recommended Practice "Accounting and Reporting by Charities" (FRS 102) and the Companies
Act 2006.
Reference and Administration Details
The reference and administration details of the charitable company are as shown on page 2.
Objectives and Activities
Objectives
The principal activity of the charitable company is that of a community based social economy
enterprise, whose objectives are the economic, social and human resource development of the
Carrickmore and wider Mid-Tyrone catchments.
Activities
The charitable company's activities include the management and operation of Termon
Business Park and the Milestone Centre, the provision of high calibre workspace for small and
medium enterprises and the delivery of training and support services ￿levant to businesses,
community organisations and individuals.
Public Benefit Statement
The Directors of Techno Tyrone Limited confirm that they have complied with their duty under
section 4(6) of the Charities Act (Northern Ireland) 2008 to have regard to the Charity
Commission for Northern Ireland's guidance on public benefit and that the public benefit
requirement has informed the activities of the charitable company in the year ended 31
December 2022.
Achievements and Performance
The Directors have established the charitable company as a progressive rural enterprise that
supports business development, job creation, skills enhancement and inward investment to
the area, all of which it is committed to continue.
Financial Review
Financial Performance
The financial performance was in Ilne with the Directors, expectations. The charitable company
remains in a sound financial position at the year-end. The results for the year are set out in
detail on pages 8 to 17. The charltable company returned net incoming resources for the year
of £(1,624) (2022: Net incoming resources £21,045).
At 31 December 2023, the total funds of the charitable company amounted to £1,945,736
(2022: £1,947,360) comprising of unrestricted funds of £1,918,941 (2022.. £1,918,761) and
restricted funds of £26,795 (2022: £28,599). Principal sources of funding and how this has
supported the key objectives of the charitable company are disclosed in the notes to the
financial statements.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 3

Techno Tyrone Limited
Charitable Com
an
Limited b Guarantee
DIRECTORS, REPORT for the
ear ended
02
Flnanclal Review (Contlnued)
Reserves Policy
The charitable company does not maintain a formal reserves policy however the Board of
Directors continue to monitor the level of reserves held by the charitable company and are
satisfied that these are adequate to meet any unforeseen expenditure incurred.
Structure, Governance and Management
Organisational Structure
The charitable company is a company limited by guarantee, not having a share capital.
The charitable company was established under a Memorandum of Association which
established the objects and powers of the charitable company and is governed under its
Articles of Association.
In accordance with the Articles of Association, the members to retire by rotation shall be those
who have been longest in office since their last election, and the relevant motion will be put at
the Annual General Meeting. A retiring member shall be eligible for re-election.
Directors
The Directors during the year are the same as the Directors as listed on page 2.
Taxation Status
The charitable company is recognised as a charity by HM Revenue & CuSto￿s. Accordingly,
the charitable company has availed of the exemptions contained in Chapter 3 Part li
Corporation Taxes Act 2010 and Section 256 Taxation of Chargeable Gains Act 1992.
Directors. Responsibilities
The Directors are responsible for preparing the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice).
Company law requires the Directors to prepare financial statements for each financial year
which give a true and fair view of the state of the affairs of the charitable company 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 Directors are
required to:
select suitable accounting policies and apply them consistently;
observe the methods and principles in the Charities SORP (FRS 102).
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 charitable company will continue in operation.
The Directors are responsible for keeping adequate accounting records that 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.
CavanaghKelly, Chartered Accountants & Statutory Auditors
Page 4

Techno Tyrone Limited
Small Companies Exemption
The above report has been prepared in accordance with the special provisions relating to small
companies within Part 15 of the Companies Act 2006.
This report was approved by the Board of Directors on 7 May 2024 and signed on its behair
by:
Registered office:
The Milestone Centre
Termon Business Park
Carrickmore
Co Tyrone
BT79 9AL
417,ia 4nk4
Mr James Maguire
Director
CavanaghKellyi Chartered Accountants & Statutory Auditors

Techno Tyrone Limited
ri
Com
an
Limi
INDEPENDENT EXAMINER'S REPORT to the members on the unaudited financial
statements of Techno T
rone Limited for the
ear ended 31 December 2023
We report on the financial statements of the company for the year ended 31 December 2023
which are set out on pages 8 to 21.
Respective Responsibilities of Directors and Independent Examiner
As the charitable company's Directors, who are the trustees for the purpose of charity law,
you are responsible for the preparation of the financial statements in accordance with the
requirements of the Companies Act 2006. Having satisfied ourselves that the charitable
company is not subject to audit under company law, and is eligible for independent
examination, it is our responsibility to:
exarnine the accounts under section 65 of the Charities Act (Northern Ireland) 2008;
follow the procedures laid down in the general Directions given by the Charity
Commission for Northern Ireland under section 65(9)(b) of the Charities Act (Northern
Ireland} 2008; and
state whether particular matters have come to our attention.
Basis of Independent Examiner's Report
We have examined your charitable company's financial statements as required under section
65 of the Charities Act (Northern Ireland) 2008 and our examination was carried out in
accordance with the general Directions given by the Charity Commission for Northern Ireland
under section 65(9)(b) of the Charities Act (Northern Ireland) 2008. The examination Included
a review of the accounting records kept by the charitable company and a comparison of the
accounts presented with those records. It also includes consideration of any unusual items or
disclosures in the accounts, and seeking explanations from you as charitable company
Directors concerning any such matters.
Our role is to state whether any material matters have come to our attention giving us cause
to believe:
That accounting records were not kept in accordance with section 386 of the
Companies Act 2006; or
That the accounts do not accord with those accounting records. or
That the accounts do not comply with the accounting requirements of section 396 of
the Companies Act 2006 and with the methods and principles of the 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; or
That there is further information needed for a proper understanding of the accounts to
be reached.
CavanaghKelly, Chartered Accountants & Statutory Auditors
Page 6

Techno Tyrone Limited
Charitable Com
an
Limited b Guarantee
INDEPENDENT EXAMINE
sta
men
Techno T
2023
Continued
REPORT to the members on
udited flnancial
rone Limited for th
ear ended 31 December
Independent Examiner's Statement
We have completed our examination and have no concerns in respect of the matters listed
above and, in connection with following the Directions of the Charity Commission for Northern
Ireland, we have found no matters that require drawing to your attention.
CAVANAG
Chartered Accountants & Statutory Auditors
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP
Date: 7 May 2024
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 7

lJ PJ
iii-
a) lj
7J

Techno Tyrone Limited
haritable
imited b Guarantee
STATEMENT OF FINANCIAL POSITION as at 31 December 2023
Note
2023
2022
Fixed Assets
Property, plant and equipment
1 848 026
1 850 883
Current Assets
Receivables
Cash and cash equivalents
29,863
101 909
131,772
37,634
127,823
Payables: Amounts falling due within in one
year
io
Net current assets
109 812
110 658
Total assets less current liabilities
1,957,838
1,961,541
Payables: amounts falling due after more than
one year
li
(12,102)
(14,181)
Net Assets
13
1 945 736
1 947 360
REPRESENTED BY:
Unrestricted funds
Restricted funds
Total Funds
14
14
14
1,918,941
1,918,761
1 945 736
1 947 360
The Directors, statements shown on the following page form part of this Statement of Financial
Position.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 9

Techno Tyrone Limited
AL POSI
asa
AL
be
These financial statements have been prepared in accordance with the provisions applicable to
small companies, regime within Part 15 of the Companies Act 2006.
For the financial year ended 31 December 2023 the company was entitled to exemption from
audit under Section 477 of the Companles Act 2006.
The Directors confirm that the members have not required the company to obtaln an audit of its
financial statements for the year in question in accordance with section 476 of the Companies
Act 2006.
The Directors acknowledge their responsibilities for ensuring that the charitable company keeps
accounting records which comply with Section 386. and for preparing financial statements
which give a true and fair view of the state of affairs of the charitable company as at the end or
the financial year and of its incoming or outgoing resources for the financial year in accordance
with the requirements of sections 394 and 395 and which otherwise comply with the
requirements of the Companies Act 2006 relating to financial statements, so far as applicable to
the charitable company.
The notes on pages 11 to 21 form an integral part of the financial statements.
The financial statements were approved and authorised for iSSLte by the Board of Directors on
7 May 2024 and signed on their behalf by..
Gerard Keyes
Director
Jam
s Maguire
Director
Ch
ri
istration Number: 102966
CavanaghKelly, Chartered Accountants & Statutory Audltors
Page 10

Techno Tyrone Limited
Charitable Com
an
Limited b Guarantee
NOTES TO THE FINANCIAL STATEMENTS
For the
ear ended 31 December 2023
GENERAL INFORMATION
Techno Tyrone Limited is a charitable company limited by guarantee incorporated in Northern
Ireland. In the event of the charitable company being wound up, the liability in respect of the
guarantee is limited to £1 per member of the charitable company. The address of the registered
office is as shown on page 2.
The charitable company constitutes a public benefit entity as defined by FRS 102.
ACCOUNTING POLICIES
The following accounting policies have been applied consistently in dealing with items which are
considered material in relation to the charitable company's financial statements.
2.1 Statement of Compliance
The financial statements of the charitable company, which is a public benefit entity under
FRS102, have been prepared in accordance with the Charities SORP (FRS 102)
'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 I lanuary 2019),,
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK
and Republic of Ireland, and the Companies Act 2006.
2.2 Basis of Preparation
The financial statements are prepared on a going concern basis under the historical cost
convention unless otherwise stated in the relevant accounting policy. Historical cost is
generally based on the fair value of the consideration given in exchange for assets. The
following accounting policies have been applied consistently in dealing with items which
are considered material in relation to the charitable company's financial statements.
2.3 Cash Flow Statement
The charitable company has applied Update Bulletin l as published on 2 February 2016
and does not include a cash flow statement on the grounds that it is applying FRS 102
SORP.
2.4 Income and Endowments
(i) Charitable Activities
Income from charitable activities includes income received under contract or where
entitlement to grant funding is subject to specific performance conditions. It is
recognised as earned as the related services or goods are provided. Grant income
included in this category provides funding to support projects and is recognised where
there is entitlement, certainty of receipt and the amount can be measured with
sufficient reliability.
CavanaghKelly, Chartered Accountants & Statutory Auditors
Page 11

Techno Tyrone Limited
ri
Li
d b Guarantee
NOTES TO THE FINANCIAL STATEMENTS
For
ar end
023
Continued
ACCOUNTING POLICIES (Continued)
2.5 Resources Expended
Expenditure is recognised when a liability is incurred. Contractual arrangements and
performance related grants are recognised as goods and services are supplied. Where
costs cannot be directly attributed to a particular heading, they have been allocated to
activities on a basis consistent with use of resources. Staff costs and overhead expenses
are allocated to activities on the basis of staff time spent on those activities.
(i) Charitable Actlvities
This comprises all the resources applied by the charitable company in undertaking its
work to meet its charitable objectives. Charitable artivities will include the costs of
governance arrangements which relate to the general running of the charitable
company.
2.6 Fund Accounting
The charitable company has two types of funds for which it is responsible at the year end:
Unrestricted funds
Funds which are expendable at the discretion of the Directors
in furtherance of the objectives of the charitable company. In addition, funds may be
held in order to finance capital investment and working capital.
Restricted funds
Income received for specific purposes. Such purposes are within
the overall aims of the charitable company.
Reserves
Reserves are needed to bridge the timing gap between spending and receiving of
income and to cover unplanned temporary shortfalls in income should they arise.
Holding adequate reserves safeguards the provision of our services in the event of
unexpected significant financial pressures. The trustees consider that the ideal level of
reserves would be three months expenditure plus total liabilities at year end.
Property, Plant and Equipment and Depreciation
Property, plant and equipment are initially recorded at cost.
Depreciation is provided at rates calculated to write off the cost less residual value of each
asset over its expected useful life, as follows:
Plant & Machinery
Fixtures, Fittings & Equipment
200/0 Straight Line
12.50/0 Straight Line
2.9 Trade and Other Receivables
Trade and other receivables are initially recorded at fair value and thereafter stated at
cost less impairment losses for bad and doubtful debts.
CavanaghKelly, Chartered Accountants & Statutory Auditors
Page 12

Techno Tyrone Limited
Charitable Com
Limited b Guarantee
NOTES TO THE FINANCIAL STATEMENTS
For the
r ended 31 December 2023
Continued
ACCOUNTING POLICIES (Continued)
2.10
Trade and Other Payables
Trade and other payables are initially recognised at fair value and thereafter stated at
cost.
2.11
Taxation
As a charity, the charitable company is not liable to Corporation Tax
2.12. Critlcal accountlng 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 value 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 were
the revision affects only that period, or in the period of the revision and future periods
were the revision affects both current and future periods.
Criticaljudgen7ents in applying the entity s accounting policies
There are no critical judgements in applying the company's accounting policies.
Critical accounting estimates and assumptions
There are no accounting estimates in applying the company's accounting policies.
2.13 Financial Instruments
(i) Financial assets
Basic financial assets, including trade and other receivables, cash and bank balances and
amounts owed by related parties and are initially recognised at transaction price, 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. Such
assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are
assessed for objective evidence of impairment. If an asset is impaired the impairment loss
is the difference between the carrying amount and the present value of the estimated
cash flows discounted at the asset's original effective interest rate. The impairment loss is
recognised in profit or loss.
If there is decrease in the impairment loss arising from an event occurring after the
impairment was recognised, the impairment is reversed. The reversal is such that the
current carrying amount does not exceed what the carrying amount would have been had
the impairment not previously been recognised. The impairment reversal is recognised in
profit or loss.
CavanaghKellyA Chartered Accountants & Statutory Auditors
Page 13

Techno Tyrone Limited
Charitable Com
an
Limited b Guarantee
NOTES TO THE FINANCIAL STATEMENTS
For the
ear ended 31 December 2023
Continued
ACCOUNTING POLICIES (Continued)
2.13 Financial Instruments (Cont'd)
{ i) Financial assets (Cont'd )
Financial assets are derecognised when (a) the contractual rights to the cash flows from
the asset expire or are settled, or (b) substantially all the risks and rewards of the
ownership of the asset are transferred to another party or (c) despite having retained
some significant risks and rewards of ownership, control of the asset has been transferred
to another party who has the practical ability to unilaterally sell the asset to an unrelated
third party without imposing additional restrictions.
(li) Financial liabilities
Basic financial liabilities, including trade and other payables, bank loans and overdrafts
and amounts owed to related parties 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 receipts discounted at a market rate of
interest. Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Fees paid on the establishment of loan facilities are recognised as transaction costs of the
loan to the extent that it is probable that some or all of the facility will be drawn down. In
this case, the fee is deferred until the draw-down occurs.
To the extent there is no evidence that it Is probable that some or all of the facility will be
drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised
over the period of the facility to which it relates.
Trade payables 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 payment is due within one year or less. If not, they are presented as non-
current Ilabilities.
Trade payables are recognised initially at transaction price and subsequently measured at
amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the
contractual obligation is discharged, cancelled or expires.
(iii) Offsetting
Financial assets and liabilities are offset, and 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.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 14

Techno Tyrone Limited
Charitable Com
Limited b Guarantee
NOTES TO THE FINANCIAL STATEMENTS
For the
ear ended 31 December 2023
Continued
2. ACCOUNTING POLICIES (Continued)
2.14 Pension and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan
under which fixed contributions are paid into a pension fund and the charity has no legal
or constructive obligation to pay further contributions even if the fund does not hold
sufficient assets to pay all employees the benefits relating to employee service in the
current or prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial
Activities when they are due. If contribution payments exceed the contribution due for
the service, the excess is recognised as a prepayment.
CavanaghKelly. Chartered Accountants & Statutory Auditors
Page 15

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Techno Tyrone Limited
itable
NOTES TO THE FINANCIAL STATEMENTS
For the
ear ended 31 December 2023
Continued
NET INCOME/(EXPENDITURE) FOR THE YEAR
Net income/ (expenditure) is stated after charging / (crediting):
2023
2022
Depreciation of fixtures, fittings and equipment
8,524
6,926
INDEPENDENT EXAMINER'S REMUNERATION
The independent examiner's remuneration amounts to an independent examination fee of
£3,254 (2022.. £3,782).
7. STAFF COSTS AND EMPLOYEE BENEFITS
The average number of persons employed by the charitable company during the year was I
(2022.. 1).
The total staff costs and employees, benefits was as follows:
2023
2022
Wages and salaries
Social Security Costs
Pension
13,463
617
220
14,300
13,345
617
211
No employee of the charitable company received total employee benefits of more than
£60,000.
7.1 DIRECTORS, REMUNERATION
The Directors received nor waived any remuneration or any other benefits during the year and
no reimbursements of expenses incurred.
CavanaghKelly, Chartered Accountants & Statutory Auditors
Page 18

Techno Tyrone Limited
Charitable Com
an
Limited b Guarante
TE
For the
EFI
NCI
L STATEMENTS
ear ended 31 December 2023
Continued
8. PROPERTY, PLANT AND EQUIPMENT
Investment
Plant &
Properties Machinery
Fixtures,
Fittings &
Equipment
Total
Cost
At 31 December 2022
1,819,313
45,363
226,295
5,667
231,962
2,090,971
5,667
2,096,638
Additions
At 31 December 2023
1,819,313
45,363
Depreciation
At 31 December 2022
Charge for year
At 31 December 2023
36,248
203,840
240,088
210 425
248 612
Net Book Values
At 31 December 2023
1 819 313
1 848 026
At 31 December 2022
1 819 313
1,850,883
9. RECEIVABLES
2023
2022
Trade receivables
io.
PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2022
Bank loans and overdrafts
Trade payables
Taxation and social security
Accruals and deferred income
4,000
12,857
2,084
4,000
5,742
1,877
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 19

Techno Tyrone Limited
Charitable Com
an
Limited b Guarantee
NOTES TO THE FINANCIAL STATEMENT
mbe
2023
ntinued
ii.
PAYABLES: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023
2022
Bank loans and overdrafts
12,102
12.
LOANS
An analysis of the maturity of loans is given below:
2023
2022
Amounts falling due within one year or on demand:
Bank loans
4,000
4,000
Amounts falling due between one and two years:
Bank loans
4,000
4,000
Amounts falling due between two and five years:
Bank loans
8,102
10,181
Amounts falling due after more than five years:
Bank loans
A Bounce Back Loan of £12,102 {2022: £18,181) is guaranteed by the UK Government under
the Bounce Back Loan Scheme. The loan is repayable over 5 years with a rate of interest of
2.50/0.
13.
ANALYSIS OF NET ASSETS
Unrestricted
Funds
2023
Restricted
Funds
2023
Total
Funds
2023
Total
Funds
2022
Property, Plant and Equipment
Current Assets
Current Liabilities
Non-cu rrent Liabilities
1,821,231
131,772
(21,960)
26,795
1,848,026
131,772
(21,960)
1,850,883
127,823
(17,165)
1,918,941
26,795
1,945,736
1,947,360
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 20

Techno Tyrone Limited
aritable Com
an
Limited b
arantee
NOTES TO THE
INANCIAL STATEMEN
he
ear ended 31 December 2023
Continued
14.
ANALYSIS OF FUNDS
Opening
Balance
Income
Expenditure
Closing
Balance
Groundwork NI Grant
DAERA Grant
FODC Capital Grant
Co-operation Ireland Grant
ESB Grant
2,545
1,137
20,316
843
3,758
(396)
(186)
(312)
(136)
(774)
2,149
951
20,004
707
2,984
Restricted Funds
28,599
(1,804)
26,795
Unrestricted Funds
1,918,761
93,909
(93,729)
1,918,941
Closing balance
1 947 360
1 945 736
15.
CONTINGENT LIABILITIES
A contingent liabil ity exists to repay gra nts received shou Id certain cond itions not be fulfilled
by the charitable company.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 21