WEI ST BELFAST ENTII RPRISE BOARD LIMITED Report of tlie Trustees FOR THE YEAR ENDED 31 DECEIVIBER 2022 The tn2slees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial slal¢men15 of the charity for the year euded 31 December 2022. The trustees have adopted the provisions of A¢¢oullting and Reporting by Charities.. Statement of Recommended Practic¢ appli¢2ble to charities preparing their accounts in accordance with the Financial Reporting Standard appli¢abl¢ in the UK ahd Republic of Ireland (FRS 102) (effective l Janvary 2019). OBJECTIVES AJ4D ACTIVITICI S Objectives and ilms The objectives of the eharil&ble company ar¢ the promotion for the benefit of the public of urban or n)ral regeneratiort in oreas of social and economic deprivation and ID particular in West Belfast. but not exclusiv¢lyJ by all or any of the following means: (a) the relief of povety in such ways as may b¢ thoughi fit. Ib) the relief of ullemploymellt in sucb ways as may be thought fit. including assistance to fmd employmcnt. (c) Ihe advancement of education, training or retraining} particularly among unemployed peopl¢, providittg un¢mployed people with work experience. (d) th¢ provision of financiRI assist8n¢e, technical a8SlStanc¢ or busin&ss advice or consultancy in order lo provide training 8nd employment opporhinities for unemployed peopl¢ in cases of fjnancial or other charitable n¢¢d through help.. (i) in setting up their own business, or (li) to ¢xisting business¢s' (e) the creation of training and employment opportuttilies by the provision of workspace, buildings. anor land for us¢ oll favoui'able l¢rm5,' To further such other purposes which ar¢ exclusively charitable under the law of Northern Ir¢lattd from time lo time by providing grants (or other sneans deemed siiilable) lo Charities or other organi5ations or individuals as ihe dir¢¢tors in Ih¢ir absolute discretion detemiine. Our strategic vision is driven by our founding prin¢iples with a clear intent to deliver our commitTn¢nl of providing quality solutions within a quality framework with our Gustomers and tenants. Publie beneflt The tnJ5tees have read and had r¢gard to th¢ Northern Ir¢lortd Cbaiity Con)mission's statutory guidance on Publi beneftt.
WEST BELFAST ENTEI RPRISlt BOARD LIMITII D Report of tlic Trustees FOR THE YEAR ENDED 31 DECETh(BER 2022 STRATEGIC REPORT Achieven]ent and performance Charitable xctisryties The f]nancial year of 2022 was one of Conlillued challenge due to the easing of Covid Pandemic restri¢tions and downturn in the eeonotny bul was also coupled with some growth and success in th¢ company. The ¢otnpany experienced considerable Ghallenges during the covid pandemic with a downtULD in customer spettding and the general ¢¢onon)ic environment. However, this was mitigated well, and the company assisted m8tLy t¢nants and companies Ibroughoul the year lo ensure colltinued support. In the year, we have fvrther d¢veloped our new social ellterprise, Roar and Explore, a children's indoor play facility based in the Dairy Farni cenlre. We have added some new faciliti¢s and have expanded the range of services of the Lost Level party and garning room. Roar 8nd Explor¢ provide free educational activities ¢very Monday to Thursday, whi¢h al'e available to all children on the premises, Th¢s¢ activiti¢s are learning through arts and crafts (Colin's crafts), learning through cooking and baking (Ellie's ERIS), learnillg through stories. singing and dancing (Rami's Rhymes) and learning through sensory play (Tilly's Twists). Th¢se sessions rn115 days per w¢ek, 5 sessions per day, wiib an averag¢ of 10 kids per session. This equates to E4ppi0xinl¢1Y 12,000 children benefiting from thege educatiottal act&vities from January to December 2022. Every morning we provide a dis¢ounted toddler morning entry rate and free loasl and juice for all the children. This ensures the children are provided with something to eat and drink plus il encourag¢s their parents to bring them out of the house to so¢ialize and play witli other ¢hildren of a similar age. Approximately 5500 childr¢n benefit¢d from this. We offer a h¢avily discounted child minder enty ratc, as we know that being a childminder Can be quite a lonely fomi of work. W¢ ¢urrently have 142 chilthninders regisleTed on this scheme. of which many are extremely regular users. It gives them an opportuJ)ity 10 get out of the hous¢, in a safe environment for th¢ kids in their care to play, whilst they 8ocialise aDd meet up with likeminded people. 4700 ¢hildren benefited from thi8. We also offer discount 2 for I discount for Perks card holders (primarily for Blue light Services) which w&8 availed of approximately I300 times. free birthday passes to birthday children from which 541 children benefited and free entry for slaff children which was used 175 times. We provide discounted entry rates for nurserAes, schools, and Clubs. The ¢hildren that eome with Illese nurseries, schools and clubs are also provided with free toast and juice, from which over 1500 children benefited. We also provide free parties (play, juice, hot meal and de5s¢rt) Ibromgh various competitions and in support of lo¢al community groups and clubs. 250 benefited from this. in addition to over 300 fite passes wliich were also pmvided to local ¢ommunity groups, clubs and fundraisers. We continued to grow and expand Pure Class Fitness, our social enterprÈse gym (purchased in 2020) lo create additional jobs and lo also provide OpponItieS for personal ¢rgin¢r8 Ill th¢ area. The gym has also offered fr¢e classes, free sessions and space to the local Community. It has also dollated many free gym memberships to local eottllnunlty organisalions in th¢ area of social need. We have enhall¢¢d programmes to include yoga and mindfu]ness to ty to help with the increasing mental h¢alth and rehabilitation issues in our immediate local community. W¢ have fomied several partnerships with local mental health care providers to offer free and discounted fftemb¢r8hips rates. The properties at Twin Spires: Boucher Business Studios and Dairy Farn have received upgtades with the attraction of some n¢w busill¢sses to the site evert during the pand¢mic. These have included new groulld works. internal upgrades. additional facilities such as el¢ctri¢ charging stations elc. W¢ have been working Closely with tenants throughout th¢ year to help support, sustain. develop and grow their businesses. The training attd dev¢loprnent programmes foT the Company delivered on E23 initial business assessm¢nts' 64 business plans for people startillg up in business, assistance lo 41 businesses who start¢d trading in the y¢ar' business advice alld guidance to over 200 Glients.
WEST BEI LFAST ENTERPRISE BOARD LIMITED Report of th¢ Trustees FOR THE YEAR ENDED 31 DECEMBER 2022 We assisted 3 clients lo receive mentoring and 8UPPOrt in applying for an ENI loan fuiid. One of these clients has received ongoing mentoring and support ftom us for a year. We assisted 35 existing business owners within the connUnIty with guidance and support with their business queries. We assisted 156 clients in beginning the proGess of becoming self-employed and 59 clients in the process of choosing the appropriate legal stn]cture and registering their business. We have been involved in developing new progratnme with Nl Bxplor¢ Enterprise Support. This progratLme will be airyled at members of the community who are currently economically snaclivc and will provide otte to one mentoring and guidance in achieviag their goals of being ¢mployed or startillg up tbeir own business. Thts will begin in 2023. W¢ a8sist¢d 22 Clients from past programmes with support to access additlollal progranLmes'. additional training and dev¢lopment opportunitL¢5 and access to fAnan¢e, We donated ov¢r 384 hours of free advice and rn¢nloring to tenants and individuals that could not be supported through our programmes. This has rang¢d from mentoring. marketing sUPPOrt- business support and guidan¢e' and assistance with access to finance and grant support. Wesilink EnteriseS Lid has performed well financially attd has been on targct in lernis of financial r¢tum 8lld occupancy levels. We have made some substantial improvements on tbe sile and the adjacent site including resurfacing woiks and ¢onlinue lo re-invest back into the area. We also Yegularly liaise with community partners in the 8rea. Flex Language S¢rvi¢es Ltd fa¢e-to-fa¢e job numbers have steadied itt 2022 due to the out working5 of ongoing COVID-19 procedures within the public services that are demanding a differ¢nt way of illterpreling. This has resulted in the number of telephone Intereting assignthenls increasing. We hope that fa¢e to face job numbers will rise again in 2023 as the restrictions lift and public s¢rvices retsjm to office and with FLEX being awarded the colllract for face-to- face Interpreting in the Public Sector for the Thext four years. In 2022 FLEX concentrated on inte&Treter training having 9 training programmes for interyrel¢rs, amounting to Enor¢ thaTh 100 newky truin¢d interpreters in 17 different languages. This Interpreter training was upgraded from att endorsed course to a qualification though the European Framework. FLEX hav¢ also concentt'at¢d on further CPD development and investmet in tbeir inletpretcrs through all int¢ry)¥etels pei'ks programme. Flex also initiated & mental h¢alih programme for intery)relers in partnersliip with Inspire. OrtU8 Property Services has performed well in the year against projections and has solidified its manageinent contracts across the board. W¢ have expanded the propety managemen¢ servi¢es in the year with a contra¢t to support Sl Comgalls Social enterprise project. This managem¢nt contract has now been fully implemented in 2022 We have also returned lo servi¢¢ witb Fire Pisk NI as we were able to access premises on¢¢ Covid Restrictions were eased. We hav¢ added to the portfolio of properties with the purchase of tlLe site adjac¢nt to Westlink and 8r¢ planning further dev¢lopment on that site. W¢ purchased Whiterock Business Park and have invested congiderably lo have th¢ llew park (Cityview Business PaTk} opened. This has b¢en a vacant SAte for almost 20 years and we hav¢ ¢ompl¢l¢ly regen¢rated the site, facilttaling the ¢realion of many new jobs ill all area of social and economic deprivation, Both tELese projects became llY operational ill 2022 and ar¢ providing a great servi¢e in those comtnunities. We hav¢ also supported many Schools and charities in our community over 2022. These have ill¢luded a number of Aisling bursaries lo people re-¢nlering or returning to education and leamuig) SUPPOrting local schools with sports equipment. and supporliE]g local festivals and aclivitkes for children.
WEI ST BELFAST ENTERPRiSE BOARD LIMITED Report of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2022 STRATEI GIC REPORT Finaneial revleiv Financial posRtion The Consolidated Statement of Financial Activities for the year ended 31 December 2022 and Consolidated and company Balance Shcets as at that date are shown itt the atta¢hed financial stat¢menls. Total income for the y¢ar to 31 Dec¢mber 2022 is £3,075,588 (2021 £2,908,939 whicb is up £166,649 ott the prevLOU8 year. Total expendire for Ibe year is £2,712,953 (2021: £2,362,910) which is up £350,043 on the previous year. Net surplus for the year before faiT value movement was £362,635 compared to nel surplus of £546,029 before fair value movement, for the previous y¢ar, Th¢ Ststement of Financial Position remains h¢althy with Net Assets in excess of £10 million, of which all but £7,406 relates to unrestricted funds. Significant capital ¢xp¢nditure of approximately £240,000 was illcurred in completion of the Whilerock property. Reserves pollcy The Board of Trustees has established a policy whereby Ibe Unrestricted Funds not committed or invested in tangible fixed assets for charity use cihe free reserves,) held by the Company should be between 3 and 6 months of the resources expended. At this level, the Trust¢e5 feel that Ih¢y would be abl¢ to continue the current activities of Ihe company. In tlie event of a significant drop in fijnding, it would obvÈously be necessary to consider how the flding would be r¢plac¢d or activities changed.
WEI ST BELFAST ENTERPIUSf BOAIiD LIMITED Report of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2022 STRATEGIC REPORT Princlpal rlsks and uncertRintles The tru8l¢es have a risk management strategy in place which Comprises: An annual review of the Tisks the company and its subsidiaries face by the Finan¢e audit and risk committee and the board of tTUStees' Th¢ quarterly moniloTing of risks by the Finance, audit and risk committee, The anllu?l exlemal rcview of risk alld risk proc¢dures as part of the ISO Quality management audit. The establishment of syste)ns and procedures to nJitigate those risks identified in the plan, alld. The implementation of PTo¢edures designed to minimis¢ any potential impact on the company should tlLose risks materialise. This strategy has helped identify the Diajor risks to which th¢ oompany is polentially cxposed, assessed those risks and put in plaee systems to mitigate Ihe risks.The trustees arc committed to adopting best practice in the identification, evaluation and ¢osl effective control of risks, to ensure that the chaTili¢s exposure is minimised or eliminated where possible. Principal areas of risk identified Os a result of the proc¢sse$ ill place include; Financial risk The highest risk identified is the impact of the curyent ecorLomi¢ climate on revenue streams and th¢ effect of external influen¢es and legislation on ils ability to manage costs. To manage this ris1( a stringent budgeting procedure has been established to idetLtify and maximise all income strgams and to tightly mange cost control. In addition an ongoing programme of reviewing artd updating the entire organisations opeYatioTh procedures and policies has commen¢¢d, Operntional risk Ensuring the provision of it5 services to the groups mat)y tennels and ¢ustomers, S¢rvice provision & quality of same is given the highest priority witbin the charity. Health and Safety A detailed plan of nssessments, training atid reviews has been developed and implemented to ensure the physical risk of injury or liabÉlity lo any service user, staff membet or member of the public when assessing the charities facilities or servi¢es is mitsimised. In addition to the above a detailed risk register is kept and r¢viewed by the trustees and they are satisfled that the systems in place roanage exposure to the major risks identified. Busin¢$s contittuity plans exist for every rnajor scrvic¢ area and these are reviewed regularly.
WEI ST BELfAST ENTERPIUSE BOARD LIMITED Report of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2022 STRtriTEGIC REPORT Future plans The trustees are fully Commilled to a robiisl progromme of reinvestment of surpluses into the company throiigh a detailed capital investment plan across the five siles. W¢ acquired the site adjacent to the West11t site and will invest in an area of hÉgh social and economic deprivation with the hope to attract neiv businesses and jobs to that area. We have o1$0 acquired th¢ Whiterock s&le and compleled a Substantial investment plan in 2022 to allow us to attra¢l new business and jobs into another area of high socio-economic deprivation. This project is not phase I complete and has made a substdntial impact in the area. We also hope to continue lo develop plans for s¢veral new siles and are working closely with Governrnent Departments lo develop sustainable development plans for these 51tes. However, th¢ capital works planned for 2023 will focus ort the development of th¢ physical infrastructhre of the site adjaccnl Westlink Entelprise Pgrk. the Dairy Fam) Complex and the Whiterock site, It is our irtlelltion to Complete relatively major groundworks across t)ie sites in 2023. develop a sit - in i¢e cream pai'lour and safe space at Dairy Fam] to COTnpliment the new local Colill Park initiative. and dev¢lop a solar energy policy and implementatioll. Ther¢ will be all expansion of training and development 8ervices which will target th¢ h8rdest lo reach in our commwiities with reSOue allocat¢d specifically to assist unemploy¢d people to gel back to work and self-employment. The Tnlstees are regularly reviewing the current impacts crisisleconomic downtttrn; spirally costs and 118 Potential effects on Ihe business. tenallts alld the local community. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The tharity is ¢ontrolled by ils governing docurnent, a deed of lrnst, and ¢onslitules a limil¢d cornparty, limited by guarantee, as d¢fuked by the Cornpanies Act 2006. The company is governed by a Board of Trustees which operates as detailed in the company's gov¢rtsing document, the Memorandwn and Articles of Association. The Board meets between six and eight times per year. The 8ub¢ommittee, the audit cornmittee, tueet on a quarterly basis and the other comtnittees meet as necessary. A ¢hi¢f executive is appointed by the board to administer th¢ day to d&y operaliolls of the company and its subsidiaries. In the 2022 year, these meetings took place over Zoon]rreams and in person as p¢r govemmertt guidance during the Covid pandemic. The Board of trustees also mct to review Ib¢ year and worked to assist op¢rational stsff with the slrat¢gic plan for the y¢ar ahead. To facilitate ¢ffeetiv¢ operations the chi¢f executiye, Mr S¢amus O'Prey has delegated authority approved by th¢ trtl¢es for op¢rational matters su¢h as finauce, Cp10Yrnent and the dcliv¢ry of its training objectives. Reerultment and appointment of new trustees Due to the naMre of the charity's work the trusl¢e8 seek to ellsure that these n¢eds are approprial¢ly reflected Ibrough the diversity of the trustee body. To etthanee the potential pool, trustees are requested to provide a list of their skills (and updat¢ 1¢ each year) and in the eveTht of particular skills lacking or being lost due to retirement. individuals are approached to offer themselves for election. Induction and tr&lnlng ofneiv trustees The board conduot skills The chief executive ¢nsures that appropriate induction and training is Biven to all new and existing trustees. Each new twstee is provided with a pack of informat¢on about the group and their responsibiliti¢s and is given an opportunity to me¢t all staff. Key management remuneration The s¢tting of the pay artd remuneralion of the k¢y mBnAgement personel is del¢gated lo the Remun¢ration Committ¢¢, made up of sev¢ral ttustees.
WEST BELFAST JQNTERPRISE BOAIiD LIMITEI D Report of the Trustees riOR THE YLI AR ENDED 31 DECETfrlBER 2022 STRUCTURE, GOVERNANCE AND MANAGENffi NT Related partie5 Wesl Belfast Enterprise Board Limited is the parent company of the following wholly owned subsidiary ¢ompanie5'. Nt019927 N1608161 Weslklink EnterISeS Limited Flex Language Servi¢es Limited Roar & Explore Dairy Farni Limited Pure Class Dairy Falln Limited Fire Risk Nl Litnited Ortus Property Services Limited REFERENCE AND ADMINISTRATIVE DETAILS Reglster¢d Company number N1021888 (Northern IT¢land) Registered Charity llumber 103129 N1652507 (Charity no. 107683) N1671387 N1617908 N1616142 Reglstered office Ortus 155 Northumberland Street Belfast BT13 2JF Trustees Mr James Joseph Collins Prof Robert Wallace Ewort Mrs Liz Groves Mr Gerard Mccann Mrs Jacqueline Mccoy Mr Terry Mc¢rudd¢ Mr Noel FratLCiS Rooney Mr Gerry Ward Community Ms Emer Hinphey (appointed 221612022) Mrs ATl¢n¢ O'connor (appointed 221612022) Company Secretary Mrs Jacquelirye M¢¢oy Auditors M.B.Mc Grady & Co ChaTtered Accountants Statutory Auditors Raihn)ore House 52 Si Patricks Avenue Downpatrick Co. Down BT30 6DS STATEMENT OF TRUSTEESI RESPONSIBILITIES The trustees (who are also the direetors of W¢st Belfast Bnletpris¢ Board Limited for the putpose5 of company law) are responsible for preparing the Report of the TteeS and the fiNancial statements ill e¢cordarLce with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) itscluding Flliaucial R¢porting Standard 102 The FiJan¢ial R¢porting Standard applicable in the UK and Republic of Ireland"
WEST BELFAST ENTEI IiPRISE BOARD LIMITED Report of the Trustee5 FOR TKE Yfi AR ENDED 31 DECETrtBER 2022 STATEMENT OF TRUSTEES, RESPONSIBfLITIES- eontinued Company law requires Il)e trustees to prepare financial statements for each fillancial year which give a true and fair view of the slate of affairs of tbe charitable company aThd of the incoming resouk'ces and application of resources, illcludirng the income and cxpendire, of the charitable company for that period. In preparing those financial slalements, the trustees are required to select suitable accounting poli¢ies and then apply thenJ consistently. observe Itle methods and principles in the Charity SORP, make judgements and estimates tbat are reasonabl¢ and prndenl. state whether applicable ac¢ounting standards have been followed, subjeot to any material departt¢S dis¢losed explained in the financial statements. prepare the financial statements on th¢ going concem basis unless it is inappropriats to presume that the charitable company will continue in business. The trnstees are responsible for keeping proper 8¢COUllting re¢ords which disclose with reasonable acCr8¢Y at any time the fmancial positioll of the ch8rilable company and to ettabl¢ tbem to ensure that th¢ fmancial ststements comply with Ibe Companies Act 2006. They are also responsible for safeguarding th¢ 8sscls of the Charitable cornpatty and hence for taking reasonable steps for the prevention and detection of fraud and other iffegu18rities. In so far as the trustees are aware.. there is no relevant audit information of which the charitable companys auditor8 are unaware. and the trustees have taken all steps that they ougl)t to hav¢ taken to make thems¢lve5 aware of any relevant audit Ènfonnalion and to establk8h that the auditors ar¢ aware of that infornation. AUDITORS The auditors, M.B.Mc Grady & Co, will be proposed for re-appointTn¢nt at the fortkcoming Annual Gencral Meeting. Report of the Irugtees, ittcorpor&ling a strategic report, approved by order of the board of ttustees, as tbe company directors, on 26 ApIil 2023 and sigthed on the board's b¢half by: James Joseph Collins- Trustee