East Belfast Enterprise Ltd Trustees. report for the year ended 31 December 2022 Soclal Good Re-engage in charitable activity and encourage tenant engagement through events. Contlnue to engage local suppliers in facllities malntenance. Deliver the Eastside Awards to promote local endeavour in East Belfrdst. • RE-engage with schools and colleges as part of the stakeholder engagement to be carried out durlng the strategic plannlng process. As well as achievlng the delivery objettives, the plan for 2022 also Included development of the strategy for 2023 - 2025. which involved a survey of all tenants and progrdmme servlce users, consultatlons wlth koy stakeholders Includlng the Board and Staff and a number of Board and staff workshops. By the end of 2022 all key objecttves had been realised with occupanq levels at City East startlng the year at c91% and finlshing the year at c91010, wlth small fluctuation5 during the year where occupancy hit a peak of just over 92% and reduced during the summer months tv ¢88¢h. The Albertbridge Road site stsrted the year at c94% and Increased to IOOOh by Aprll, where it remalned at 100% to the of the year. A new programme named Renewal was secured and delivered during the year, whlch assisted those in the criminal justice 5y5tem to explore self-employment a5 an opportunity to re-engaye in economrc activity. This project was dellvered in partnership wlth NIACRO and contrlbuted to the successful flnanclal pmgramme performance. ex￿edIng the budget that had been set at the start of the year. Work continued during the year with Enterprise Northern Ireland to dellver services to cllents through the Go For It, Klckstart and Pathways to Enterprise programmes and development work contlnued with Enterprise Northern Ireland to develop plans post Brexit. The final European Eramsus+ project completed thls year with all targets met. March 2023 will see the end of most of the European funding as a result of the UK exit from the EU and hence there will be no further opportunlty to secure Eramus+ contracts in forthcoming years. A process of stakeholder consultstion was completed durÈng the year a5 part of the development of the new strategy for 2023 - 2025. Thls next perlod wlll be extremely challenging a5 the economy faces the challenges of the cosi of Ilvlng and cost of dolng buslness crlses. the contlnued political vacuum with no fvnctloning Exeojtive in Northern Ireland, the loss of funding as a result of Brexit, the ongoing economlc and political difficulties associated with lrnplementation of the Windsor Framework and the ongolng war in Ukralne. All of this will bring more pressure on household incomes. This, in tum. could Increase the demand for those seeklng help to Investlgate self-employment as 6 way In whlch to bring In revenue to meet these intreaslng hoLFsehold costs. The loss of EU funding and rlsks to tenancy (partlcularly those charitable organlsatlons whlch are tenants at Clty East and rely on EU fundlng) Is Ilkely to bring downward pressure on revenue for EBE. but at a time that demand for support services from the market that EBE Is set up to serve Is increasing. Loss In revenue for EBE may necessitate cost reductions, which could result In a reductlon In the staff team. However. this would result in a 105s of expertise and ¢apacity to dellver servites, whlch are Ilkely to be in Increased demand. The loss of EU fundlng brlngs about an opportunlty to look at new ways of dellvering Serv1￿$, such as developing Servi￿ that could attract partner5 willing to support through sponsorshlp and for clients wllllng to pay for Serv1￿5, if value can be demonstrated. e6E has a strong network and experience in partnership working. It has developed some sponsorship relationshlps with private sertor partners, but has never really pro-actively sought these sort of commercial partner5hlps. The organisatlon has expertise in the stsrt-up market, but has been unable to dellver cllent centred setvlces. due to the restrlctlve nature of the"programme East Belfast enterprise Ltd TTUStees' report for the year ended 31 December 2022 dellvery. where the programme criterra are deslgned by the fundlng body. The propejtr asset Is the engine that drives unrestricted revenue for the oryanlsation. This has subsidised much of the progrdmrne artivity in recent years. Further expansion of the propertv asset would enable the organlsation to achieve a greater level of freedom to design and deliver dient centred business advisory services. To do this wlll require capital funding and suitable property development opportunities with property development expertlse that is not a strength of the tU￿ent Staff team and has not been a priority for the Board. There is an opportunity to address thls through strategic partnershlps and by brlnging new members with thls speciflc expertise into the Board. Membership of ENI is a strength. but there is a threat to ENI from the future loss of EU funded programmes. New opportunities may develop with new fundlng stream5 ond it would seem sensible for EBE to remaln Involved In the ENI led development work to secure new programme actlvlty. In addition, or In parallel to the work led by ENI, there is an opportunity for EBE to commlt some resource to investigate the market for a market led business servlces offering. through a buslne55 dub initiative. Dudng 2022 and in response to thls anaWsls a three-year strategy has been agreed for 2023 2025 with the followlng guidlng 5tstements: Our Vision- "To e5tabli5h East Belfast as a vibrar¢t 50clal and economlc hub. Our Purpose: "To insplre and 5LlPPOrt ent￿preneUr5 to e5tsblish and grow buslnesses in East Belfast and to have a positive 500al impact In the local community.. Our Mission.. "To grovide entrepreneurs with facilitie5 and valued services, to rneet their changlng economlc and soclal needs. To advan￿ the strategy. focus will be on three strategic aims: To be recognlsed as a centre for business start-up SUPPOrt To ensure organ15ational sustainability and to become financially independent from Government To enhance Corporate Govemance Key projects to be advanced during the strategy have been agreed and are set out as follows: Alm I: To Be Recognlsed as a Centre for Buslness Start-up Support a. Projects: Buslness Club b. SMART Objectives for 2023: I. to complete costed feaslblllty studylappra15al by end of 2023; to launch Buslness Club in 2024 Alm 2: To ensure organlsatlonal sustainablllty and become flnan¢lally Independent from Government funding Projects: Business Club, Property Development, Net Zero, PR & Marketing b. SMART Objertives for 2023: I. by end of 2023 to identify services that can be sold to the market. through a fullv researched feaslbillty study into the business club concept 11. By end 012023 to have identified a short list of property development sltes and funding optlons Ill. By end of 2023 to complete grlcrng and benchmarklng of property sites and develop sale5 and marketing plan IV. Install PV panels across all property sltes by end of 2023 Alm 3: To Enhance Corporate Govemance a. Projects: Board Membershlp and Roles, Board Committees, Documentation {Artlcle5, Dirertor Handbook, Pollcies) East Belfast Enterprise Ltd Trustees. report for the year ended 31 December 2022 b. SMART Objettives for 2023: I. to restructure. renew and refrestt the 8oard and sub-committees by end of 2023; 11. Update relevant documentation, pollcies. procedures by end of 2023 There were some changes In staff durlnq 2022. a new business advisor was recrulted to deliver the Renewal project and the receptionist at City East left to take on a new role and was replaced by a new full-tlme receptlonist. The advisor recrulted for the Renewal progrdmrne left the organlsatlon once thls project completed. Overall, the charity has performed well throughout 2022 and I must give credlt to the stsff team for thelr dlllgent work and creativity shown In dellvering valued Se￿iceS for the community of East Belfast In very challenging circumstances. The flnanclal perforn)ance wa5 Strong J provldlng a solld platform to commence delivery of the new strategy in 2023 and face the challenges as the economy deals with the consequences of the UK exlt from the EU. I would Ilke to condude my report by acknowledging the support that I have re￿iVed as Chair from my colleagues on the Board, all of whom are volunteers and bring consldernble expertise nd experfence to thelr governance of the charity. I was saddened to accept the reslgnatlon of Graham Thompson and Joanne jennings from the Boèrd thls year. Graham and Joanne have been a great support whlle servlng on the Board, but. due to other work commltments. they rEo longer felt oble to commlt the time required to continue as members of the Board. On behalf of the Board I would Ilke to record my thanks to Graham and loanne and wish them every success in their future careers. On a happier note, I was delighted to welcome Jason Hempton to the Board this year. Jason comes wlth a great deal of experlence and exper￿Se and I have no doubt wlll prove to be a great addition to the Board. As we look fon¥ard to 2023, we face a very uncertsin time, with many economlc, political and Social challenges to face, most significant of which wlll be that resultlng from the loss of European fvndlng as a result of the UK exit from the EU. However, in the fate of these challenges I remain optimistic that we have got a strategy and a team, incorpoRting both the Board and Staff, that wlll guide us through these turbulent times and ensure we contlnue to be a positive economic force in East Belfast. Duncan Graham Chalr Our Purposes and Actlvltles The Charlty's objects I"Objetts") are speclflcally restritted to the followlng: The promotion for the public benefit of urban regeneratlon within East Belfast and its environs (the 'area of benefit.) being an area of social and economic deprivatlon, by all or any of the followlng mean5: (a) the relief of poverty In such ways as may be thought fit; (b) the relief of unemployment in such ways as may be thought f(t, Sndudlng asslstance to flnd employment. (c) the advancement of education. trnlnlng or retralning. portlcularfy among unemployed people, and provldlng unemployed people with work experieno; (d) the provision of flnandal asslstance. technical asslstance or business advice or consultsncy In order to provlde tralning and employment opportunities for unemployed people in cases of financial or Dther charitable need through help: (l) In setting up their own business, or (li) to exlstlng buslnes5es" (e) the creation of training and employment opportunltie5 by the provision of workspace, buildlngs, andlor land for use on favourable terms. East Belfast Enterprise Ltd Trustees. report (contlnued) lor the year ended 31 December 2022 Public Benefit The public benefits that flow from the advancement of communlty development and the promotlon of urban and rural development are: (l) the creatlon of employment, tralnlng and work experien￿ opportunities for resldents Ilvlng in economically and socially deproved areas and consequently a reduttbon In poverty. unemployment and hardshipi leading to a better quallty of life for the beneficlarles and consequent improvements lft health and well-being* (11) enhanced knowledge about setting up and rnnnlng small businesses and 50clal enterprlses resultlng in Increased levels of self-employment and better prospects of sustainable development; (111) Inc￿ased leve15 of knowledge and trdnsferable vocatlonal skills among employees I work experlence trainees, assisting in the creatlon of a more educated. skilled and quallfled community. (Iv) a greater sense among the benefiaaries of more fvlfilled and purposeful lives, resulting In a safer, more stable and cohesive communlty. These benefits can be evidenced in record5 kept by various agencles of the number of jobs and work experien￿ opportunitles created and the number5 of those who have successfully completed tralnlng courses. Evidence can also be found in independent evaluations of the aLtivities of enterprfse agendes carried out by fundlng bodles and In communlty surveys of living standard5 and attitudes. Sorne private benefit15 obtalned by the owners of small businesses who rent units on favourable temis. but this Is anclllary to the main purpose and is greatly outweighed by the gains in public benefit. No harm artses from any of these purposes. Activitles East Belfast Enterprise offers on favourable tenns a vartety of workshop unit5 at our site on Albertbridge Road and office accommodation at the City East Busine55 Centre. A variety of meeting faciltties, training rooms and a copworking space are avallable for hire to both businesses and community and voluntary organisation5. A café, Urban Skullery, contlnues to operate on site* providing an important catering facility on-site for tenants and visitors attending Clty East and has also provlded trdining to those keen to learn cullnary skllls and take the flrst steps Into the employment opportunitie5 offered by the catering and hospitallty sector. Following the COVID pandemic, as the charlty returning to more normal operatlons, the buslness support programmes re-focused on pre-start and start-up Interventlons and less on business sutvival, whlch had been an Important element of operatlon5 during COVID. Durlng 2022 there were a number of programmes whlch completed: street Culture for Regions - This EU Erasmus+ funded programme got underway In January 2021 and completed In Decernber 2022. Thls was the last Erasmus+ funded programme that East Belfast Enterprise will work on as thls fundlng sourcels no longer available due to the UK exit from the EU. The prograrnme created resources to support those Involved In "street culture", Indudlng mural artlsts, performers. street vendors, muslclans and other artisan activltles to explore opportunltie5 for self-employment and involved a transnational partner5hlp. led by EBE, East Belfast Enterprise Ltd Trustees. report (continued) for the year ended 31 December 2022 with partners from Denmark. Portugal, France, Poland, Greece and the Republic of Ireland. Renewal - This programme was funded by the UK Communlty Renewal Fund, a fund whlch was established and funded by the UK Exchequer as a pre-cursor to the UK Sha￿d Prosperity Fund. whlch Is the UK response to the European Social Fund, which will be lost once the UK exits the EU. This project was developed in partnership with NIACRO. a voluntary organisation that works wlth those at rlsk of offendlng and those In the criminal Justice system. Thls projett wa5 developed to provide training and guldance to participants Interested in exploring self-employment as a option to re-engage in economic activity. The project was a 6 month project, which started and finished durlng 2022. East Belfast AIR Story / Urban Villages - Fundlng for thls project conduded In March 2022 and an agreement was reached with Eastside Partnership through thelr subsidiary Eastside Tourisrn. to take ownership of the proJert to make use of its assets, videos and platform moving forward. Thls ensures the work completed on the projert wlll benefit and promote tourlsm wlthln East Belfast for many years to come. The only new programme that was added during 2022 was the Renewol progrdmme. which started and completed during 2022. Funding cuts and, In partIc￿lar the end of EU funding. whlch will complete in March 2023, has resulted In a very difficult fijnding environment and this Is expetted trj contlnue Into 2023. As well as those programmes that completed and others that started during the ye?r, a nurnber of programmes contlnued during 2022. which were carried on from 2021. These were: Go for It Programme l LCCC Icouncll) - a programrne that provides assistance to entrepreneurs wlth assistance to develop a business plan for thelr enterprise. Kick Start Programme / Invest Nl & Belfast City Council - A programme 5UPPOrted by Belfast Clty Councll as the 'follow-on' to Go For It for businesses anticipating to recruit an(f employ within the next 18 months. Each buslness appmved onto the programrne is allocated a bank of mentoring hours in specific subjects, bespoke to thelr bu51nes5, on toplcs such a5 marketingi finance, legal, business development, IP and a bursary of up to £1,500 for the buslness. Pathway to Enterprise Programme (PEP) Belfast Clty Counal - Partlclpants on this programme are supported with acce5S to business trainlngi mentoring and a start-up grant wlth the target demographlc belng those currently unemployed. Feel Gotrd With Food l Urban Villages - Thls programme supports local residents In the area to attend taster sesslons on how to Improve their diet to enhance nutrition, combat allments and on an affordable budget. Achievements in 2022 At the start of the year It was recognlsed that 2022 and for the Immedlate years followlng wlll be very challenging due to the outworking of the pandemic, global economic pressures and the loss of EU funding. Thls focused attention on the importance of the property asset and to maintaln accupancy levels. This wa5 SUC￿$SfUllY achieved throughout 2022 with occupancy targets achleved at Clty East and exceeded at the Albertbrldge Road site. Greater attentlon to promotlon of facilitles through the Foundry co-worklng pace a150 resulted in an increase in revenue from hot-desklng and the Sale of PO boxes and virtual office products. Programmes are under severe fundlng pressure, but a notable success was securtng fundlng from the UK Community Renewal Fund to dellver the Renewal programme. Thls programme helped clients who have been involved with the criminal Justlce system and who are one of the most disadvantaged groups when trying to re-enter the labour market. The projett provided training and guldance to explore the optlon of self-employment as an opportunlty to re-engage In the East Belfast Enterprlse Ltd Trustees. report (continued) for the year ended 31 December 2022 economy. The success of thls project and achlevement of delivery targets acros5 the other programmes has resulted in a strong financial perforniance agaln In 2022, exceeding budget targets for the year. The delivery of these programmes has enabled the charlty to contlnue to asslst individuals to explore enterprise and entrep￿neUrShlp. wlth the aim of entering self-employment, thereby reduclng dependency on state benefits and consequently addressin9 financial hardship and the relief of poverty and unemployment. Thi5 year has been another busy year, but one In whlch fvndlng for new progr7mmes has been increaslngly difficult. Plans for 2023 recognise that thos wlll continue to be the case, but the demand for the services of those seeklng assistance to look t self-employment as an option to re-engage in economic artivity remains strong. A summary of some of the pmgramme att*vity that was delivered under contracts wlth a range of publlc fundets includlng Belfast city Council, UK Commijnity Renewal Fund, EU Erasmus*, The Executlve Office and Urban Vill?ges Is as follows: Go For It.. 112 business plans produced durfng 2022 AR Story: This project completed in the first quarter of 2022. after whlch the intellertual property developed was passed to Eastside Tourism, a social enterprtse whlch operates as part of the Eastside Partnership. to develop the tourisrn product for East Belfast. Work on the projertls now dlsplayed on a dedlcated website at http:Ilart)elfaststory.corn Kl¢k Start- 35 Cllents recelved support during 2022. with 817 hours of mentoring provided, 4 financial incentives paid to clients and 4 jobs created. Pathways to Enterprlse Programme: 3 Clients received support during 2022, with 100 hours of mentorin9 provided. street Culture for Reqlons: Thls proSert was a pan-European partnershlp. led by East Belfast Enterprise, with partners in Greece, Poland, Portugal, France, Denmark and the Republic of Ereland. The project completed in Decernber 2022 and created resource5 to as515t those involved in street culture to Inve5tlgate entrepreneurshlp/self-employment as a vlable economic opportunity. Feel Good wlth Food.. The programme supported by The Executlve Offlce through the Vrban Willage Initiative continued throughout 2022, providing on-line training and advlce about how to Improve health through nutrltion to people from Inner East Belfast. During the year the pmject worked with 4 local community oryanlsation5, Orchardvllle. East Belfast Mlsslon, Sure start and Flourish Nl to make the sessions available to thelr ellents, wlth an "in person" event held In East Belfast Mlsslon at the end of the year. Renewal: Three clients completed the programme, havlng re￿IVed 70 hours of mentorlng. The ongoing challenges wlth operating during the pandemlc delayed work with the Board to progress the review of Board and Committee strurture. membership and terms of referenc8. but this has now been prioritised In the new strategyi whlch wlll Commen￿ In Jarsuary 2023. Work on the development of a thlrd site has continued wlth exploratory dlscvssions with the Board of Inspire Buslness Centre, to investlgate options for a joint approach to property development. This work wlll contlnue as a core part of the strategy in 2023. Plans were also comoleted during 2022 to set out a programme of refurblshment and improvement works at the Albertbridge Road and fjty East sites. to be progressed durlno the 2023 to 2025 strategy. In relatlon to pmgramme acttvlty, work ha5 been ongolng wlth ENI, led by the CEO of East Belfast Enterprise in hls role es Chalr of Enterprfse Northern Ireland. This work Is seeklng optlons to replace the Go For It, Kickstart and PEP programmes, once European funding finishes in March 2023. It is experted that work wlll be ongolng durlng 2023 to find replacement funding for these programmes and hence the charlty has PLtt in place addotlonal research plan5 to Investlgate opportunities to develop a buslness club and other potsntlally stand alone programmes. Foundry Event$ As COVID restrfrtlons eased, there was a gradual return durlng 2022 to"In person" events. An Important part of the charlty's strategy 15 to Increase opportunltles for tenant engagement and East Belfast Enterprise Ltd Trustees. report (continued) lor the year ended 31 December 2022 networklng and so a number of events were hosted In the autumn 012022. The events included networking breakfast, attended by 29 tenants in September, a soaal event based around the World Cup attended by 16 tenants In December and a tenant Chrfstmas event attended by 41 tenants. It Is planned to increase the number of networking events during 2023. Communlty Partnershlps and Community Engagement EBE continued eo engage with local community organlsations durlng Its tralning delivery Includlng the Orchardville Society, East Belfast Mission, Sure Start and Flourish Nl. The CEO also continued to art a5 a Dlrertor on the Eastside Partnershlp and Landmark East companies. whlch are involved In community led regeneration In Ea518elfast, These Board role5 are Important strateglc posltions to ensure EBE remains connected to and Informed about local community plans and acuvltles In East Belfast. The tharfty Is also a member of the Northern Ireland Council for Voluntary Action, Soclal Enterprise NI, C03 and Enterprise Northern Ireland, whlch enables strateglc link5 to be made to other simllar organi5ations operating across Northern Ereland. In 2021, the CEO took on the role of Chair with Enterprise Northem Ireland and wlll remain in this position for three years, until February 2024. The CEO served on the Board C03 during the year. giving further prominence to EBE'S role withtn tf*e broader third sector. EBE contlnues to take the lead in organislng the Eastside Awards to recognise enrteavour fmm all walks of life across East Belfast. With the easing of COVID restrlrtlons, it wa5 possible to return to the pre-COVID format wlth a gala black-tie event held in Aprll 2022 at the Hastings Storrnont hotel. It was encournging to again see a sell out event at the hotel, with over 300 in attendance. celebrating all that 15 good about East Belfast and shinlng a spotlight in particular on those that work tireles51y and without recognition for the community of East Belfast. A new project CoMmen￿d in 2022 to engage with multlple community organlsatlons, schools, sports dubs and businesses to work on a community art project. The project will result in the nstallation of two larye murdl artworks on the walls of the Clty East building and will actively involve those from across the communlty, Ilvlng In close proximlty to City East. Thls project wlll bring prominence to the work of the charity and will fijrther embed the charity within the community fabric of East Belfast. Completlon of thls proje¢i1s experted in the autumn of 2023. Flnanelal Review In accordance wlth required accountlng pollcyi grants are recognised In the statement of ffnancial actlvlt(es when approved by the Trustees and communicated to the recipients. irrespettive of the future period over whith payrnents are to be made, and the obllgations outstanding at the year end are recogntsed as creditors. In the year ended 2022 the Trustees a￿ happy to report that the company ex￿eded Its budgeted plans and returned a surplu5 after depreaation for the year, despite budgeting for an antlcipated loss, which had been forecast due to expected negative pressures on rental revenue a5 a result of antlclpated reduced occupancy following the COVID pandemic. Thls surplus has built on the surpluses generated In 2018, 2019, 2020 and 2021. This 15 in line with the plans that were set at the outset In the current strategy and establlshes a solld platform for the chartty to face another challenging perlod, having set out its new strdtegy for 2023 - 2025 to navlgate the turbulence expected as the UK economy navSgates its exlt from the EU. At the end of 2022 the occupancy levels were retained at both sites at pre-pandemic levels, wlth the Albertbridge Road site reaching 100% occupancy. In the new strategy for 2023 - 2025 retaining occupancy at these levels will be essential to ensure the charity is sustsinable and able to take the opportunltles that wlll present in the next perlod. 10 East Belfast Enterprise Ltd Trustees. report (contlnued) for the year ended 3 1 December 2022 Reserves Pollcy and Golng Concern A standing Item on the Agenda for each Finance Commlttee meeting ensures that there 15 a review of the cash posltion each month and that the Reserves policy is applied. This has contlnued throughout 2022 and there has been no con￿rn raised by the committee. Cash reserves remaln at a level that the Board is comfortable with in relation to the ongoing needs of the charlty. The Board of Trustees has appmved a budget for 2023 and is of the vlew that the charity has no concems regarding its continued status as a going concern. Plans for Future Perlods The Trustees will continue to aim to preserve as far as posslble the capital base of their investments and to increase annual income levels. Work will commence on the new strategy whith will focLa5 on three key strateglc aims: l. To Be Recognised as a Centre for Bu51ness Start-up Support 2. To ensure organisational sustainability and to Become Financlally Independent from Government Funding 3. To Enhance Corporate Governance Underplnnlng thls strategy wlll be the need to maxlmlse revenue from the Charlty'5 asset base and hence there are plans in the first year of the strategy to fund capital projects to renew and revltalise the property assets and invest in new branding and promotlonal actlvity. The strategy also pays attention to the charity's environmental responsibllltlas and plans are In place to reduce the carbon emissions associated with the charity'5 actlvities. with a plan to move towards a carbon net zero posltlon. Plans in the year ahead will also see further work on Board Governance to darify Board committee structures and membershlp, as well as ensurfng the skills and expertise across the Board team are rnatched to the needs of the strategy. Reference and Administratlve Detalls Charity Number: NIC103061 Company Number: N1023055 Reglstered Offlce". City East, 68 - 72 Newtownanls Road, Belfast, BT4 IGW OurAdvlsors.' Auditor5: FPM Accountants Limlted {Re-appointed followlng a tendertn9 process In 2018 for 3 year period with an option for a fvrther 2 year5) Sollcltors: Mccartan Turkington Breen Bank.. Danske Bank Dlrectors and Tru$t•e$ The Directors of the Charitable Company (the Charity) are its Trustees for the purpose of Charity Law. The Ttustees and officers se￿Ing during the year and since the year end were as follows: Key Management Personnel East Belfast Enterprls¢: 7Yustees and Dlrectors Duncan Graharn {Chair) William Mi5klmmln (Co. Secretary) Mervyn Hempton Joanne Jennings (reslgned 12 Aprll 2023) Nlcola Bothwell Gerry Gllpin Jacqueline Locke Graham Thompson (resigned 21 January 2022) Jason Hempton (appointed 12 April 2023) 11 East Belfast Enterprlse Ltd Trustees. report {contlnued) for the year ended 31 December 2022 Key Management Personnel East Belfast Enterprise: Chlef Executlve Jonathan McAlpln Structure, Governance and Management Governlng Document East Belfast Enterprlse Is a Company Llmlted by Guarantee. governed by a voluntsry Board of Directors. The company is also a registered Charlty wlth the Charities Commission for Northern Ireland and submitted its fitst return to the Charities Commisslon NI dur(ng 2017. Appointment of frustees As set out In the Artides, Directors of the Company (who serve as Trustees of the Charity for the purposes of Charlty Law) are elerted by the member5 of the company• or can be c¢Fopted by the Dlrectors. The maximum number of Dlrectors will be 12, with a minimum of 3. Trustee Inductlon and Tralnlng Incoming Members of the Board of Dirertors are aware of the aims and objectives of the Charlty and the manner In which the Trustee5 carry out thelr responsibilltles. The Chalr, supported by the Chlef Executive, oversees an InduLtlon process for new Directors. who are provided with key documents, including the Strategic Plan and Articles of Associatton of the company. An overview of the operation5 of the company Is provided by the Chlef Executive and new Dlrertors are afforded the opportunity to meet with key staff and view the key elements of the company's operations. Oryanisation The Board of Trustees, which ean have up to 12 members. admlnister5 the Charity. The Board meets minlmum of 5 tlmes per annum on a bl-monthly schedule. Standing sub-committee5 of the Boar(J include a Finance committee, which oversees the organisations finance, reviewlng management accounts and overseelng the company's risk policy* a Property Sub-committee, whith meets as required to oversee capital projects and an HR Sub-committee, which meets a minimum of once annually and as required to set remuneratlon and to review HR matters. The operations of the charlty are managed on a day-to-day basis by a Chief Executive, appointed by the Board of Tnjstees. The Chief Executtve has delegated authority, wlthin the terms of delegatlon approved by the Trustees. for operatlonal matters Includlngi finance, employment and HR. A management team has been appointed by the CEO to provide management overslght for key company functions including Programmes, Property & Tenancy and Flnance & Admlnistratlon. These management posts report directly to the CEO. Related Partles and Co-operatlon wlth Other Oryanisatlons During 2022, the Chief Executlve continued In hés paid role wlth Enterprlse Northern Ireland as the Chalr of the Board of Directors of Enterprlse Northern Ireland. This appointment was approved at a Board meeting of the Trustees of East Belfast Enterprise in January 2021 and the appolntment wlll be for a period of three year5. All of the Trustees serve In a voluntary capaaty and do not recelve any remuneratlon for their role as a Director (or Tru5tee>. Any related Interests are declared at meetings where the Interest may arise and if any Twstee may benefft personally or in thelr busine55 Interests fmm a declslon to be taken by the Board. the Trustee In question wlll be absented frorn the discussion and subsequent declsion maklng process. 12 East Belfast Enterprlse Ltd Trustees. report (contlnued) for the year ended 31 December 2022 The Company Is a member of Enterprise Northern freland, which is now under the Chalrmanship of the CEO of East Belfast Ente￿rISe and benefits from thls membershlp by accesslng contracts as sub