WEST BELFAST ENTERPRISE BOARD LIMITED
Report of the Trustees
FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees who are also directors of the charity for the purpose5 of tbe Companies Act 2006, present theiT report with
the f￿ancIal statements of the charity foT the year ended 31 December 2023. The trustees have adopted the piovisions
of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing thesr
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of freland (FRS 102)
(eff¢¢tive l January 2019).
OBJECTIVES AND ACTIifiTIES
Objectives 2nd aims
The objectives of the charitable company are the promotion for the benefit of the public of urban or Djral regeneTation
in areas of social and economic deprivation and in particular in West BelfasL but not exclusively, by all 01 any of the
following means..
(a) the relief of povety in such ways as may be thought fIt"
(b) the relief of unemployment in such ways as may be thought fil including assistance to find employment.
(c) the advancement of education, training or retralning, particularly among unemployed people. and providing
unemployed people with work experience;
(d) the provision of financial assistance, technical assRStance or bus2ness advice or consultancy in order to provide
trajning and employtnent opporNnities for unernploy¢d people in cases of f￿ancial or other charitable need through
help..
(i) in setting up their own business, or
(li) to existing businesses;
(c) the creation of training and employment opportunities by the provision of workspace, buildings, andlor land for use
on favourable terms.
To fi]rther such other purposes whtch are exclusively Charitable under the law of Northern Ireland from time to time by
providing grants (or other means deemed suitable) to charities or other organisations or individuals as tbe dixectors in
their absolute discretion det¢Tmine.
Our strategic vision is driven by our founding principles with a cl&qr intent to deliver our commillnent of providing
quality solutions wtthill a quality fralljework with our Customers and tenants.
Public benefit
The trustees have read and had regard to the Northem Jreland Charity Commission's statutory guidance on Public
benefiL

WEST BELFAST ENTERPRISE BOAJiD LIMITED
Report of the Trustees
FOR THE YEAR ENDED 31 DECEMBER 2023
STRATEGIC REPORT
Achievement 2nd performance
Charitable activities
The financial year of 2023 was one of continued challenge due to the downtyrn in the economy but was also coupled
with some growtE] and success in the company. The company experienced ¢onsiderable challenges duT3ng the economic
downturn with a downturn in customer spending and the general ecoDomi¢ environment. However, this was mitigated
well, aDd the company assisted many tenants and companies throughout the year to ensure continued support.
In the year, we have furtber developed OUT social enterprise, RoaT and Explore, a children's indoor play facility based in
the Dairy Fam centre. We have added some new facilities within the business and have expanded tbe range of services
of the Last Level paty and gaming room. We also added to the range and scope of the MoTellis ice cream parlour
including a sit-down area offering hot drinks and food. This now compliments tbe new Colin Park (part of the Urban
villages project).
RoaT and Explore provide free educational activities every Monday to Thursday. which are available to all children on
the pren]ises. These activities are learning through arts and crafts (Colin's crafts), 1&8rning ttrough cooking and baking
(Ellie's Eats), learning through stones, singing and dancing (Rami's Rhymes) and learning througb sensory play (Tilly's
Twists). These sessions rl￿ 5 days per week, 5 sessiolls per day, with an average of 10 kids per session. This equates to
approximately 12,000 cbildren benefiting from these educatiollal activities from January to December 2023.
Every morning, we provide a discounted toddler morning ellty rate and free toast and juice for all the ¢bildren. This
ensures the children are provided with something to eat and drijik plus it encourages their parents to bring them out of
the house to socialize and play with other children of a sirnilar age. Approximately 6000 children benefited from this.
We offer a heavily discounted child rninder enty rate, as we know that being a childmindcT can be quite a lonely fonn
of work. We have 125 childn]inders registered on this scheme, of which many are extretnely regular users. It gives them
an opportunity to get out of the house, in a safe ¢nviroDJDent for the kids ia their care to play, whilst they socialise and
meet up with likeminded people. The were approxkmately 5000 Children visits from this scheme, giving them the
opportunity to mix and develop social skills with other children wbilst learning tbrougb play. plus gettints valuable
exercise.
We also offer discount 2 for I discount for Perks card holdeTS (primarily for Blue light services) wFLi¢h was availed of
approximately 1400 times, free birtbday passes to birtbday children from which 712 children benefited and free enty
for staff cbildren whicb was used 300 times.
We provide a heavily discounted enty rate for nuTseTies, schools, and ¢lubs. This was availed of 115 tirnes. The
children that come with these nurseries, schools and elubs are also prov2ded with free toast and juice, from which over
2300 children benefited.
We also provide free parties (play, juice, hot meal and dessert) througb various competitions and in support of local
community groups and clubs. 250 benefited from this; in addition to oveT 500 free passes which were also provided to
local Community groups, clubs and fimdraiser5.

WEST BELFAST ENTERPRISE BOARD LIMITED
Report of the Trustees
FOR THE YEAR ENDED 31 DECEMJER 2023
We continued to grow and expand Pure Class Fithess, our s0¢2al entery)rise gym (purchas¢d in 2020) to create additional
jobs and to also provide OPpOTm￿1tieS for personal trainers in the area. The gym has also offered free classes, free
sessions and spa¢e to the local community. It has also donated many free gym memberships to local community
organisations in the area of social need. We have etthanced programmes to include yoga and mindfulness to ty to help
with the increasing mental health and rehabilitation issues in our in]mediate local conLmull7ty. We have formed several
partnerships with local mental health care providers to offer free and discounted rnemberthips rates.
The propertÈes at Twin Spires: Boucher Business Studios and Dairy Farm have received upgrades with tbe attraction of
some new businesses to the site even during the downturn. These have included new ground works. internal upgTades;
additional facilities such as electric charging stations etc. We have also invested heavily in solar panels across the sites
in an attempt to reduce costs and reduce our ellviroDtnental impact.
We have been working closely with tenants throughout the year to help support, sustain" develop and grow their
businesses. Due to the economic crisis, we have worked to assist our tenant businesses to ensure they suryive the
down￿rn. We have had great success in helping some of OUT tenants sustain, expaud and grow their business.
The training and development PTogra]nmes for the company delivered on 64 initial business assessments. 42 business
plans for people starting up in business" assistance to businesses who started trading in tb¢ year. business advice and
guidance to over 200 clients.
We assisted Clients to Teceive mentoring and support in applying for an ENI loan ￿lld. We assisted existing business
owners within tbe community with guidance and support wÈth their business queries.
We assisted clients in begirffting the Process of becoming self-employed and in the process of choosing the appropriate
legal strn¢ture aDd registering their business.
We have been involved in developing new progrdmme with NI Explore Enterprise Support. This programme will be
aimed at members of the community who are Cu￿entlY economically inactiv¢ alld will provide one to one mentoring
and guidance in achieving their goals of b¢iug employed or starting up their own business. This will begin in 2024.
We assisted clients fro]n past progrdtnmes with support to access additional programmes: additional training and
developn]ent opportunities and access to fjnartce.
We donated over 300 hours of free advice and melltoring to tenants and individuals that could not be supported through
our pro￿arnMe$. This has ranged from mentoring. marketing support" business support and guidaDce' and assistance
with access to f￿allC¢ and grant support.
Westlira( Enterprises Ltd ha5 perfornied well financially and ha5 been on target ill tern]s of flljallcial return and
occupancy leveEs. We have made some substantial impTovetaents on the site arÈd the adjacent Stte including Tesurfacing
works and continue to re-invest back into the area. We also regularly liaise with community paTthers in the area.
Flex Language SeTvices Ltd face-to-face job numbers have steadily increased in 2023 with the addition of new
contracts and clients from both the public and the private sector as well as interpreting requirements from newcon]eT
¢ommunities to access services. Written translations were also steady in both public and private enviroDm¢nts as the
requiTement for new and varied languages has grown. FLEX have concentrated on reC￿lt[nellt throughout the year to
ensure sufficient interpreter availability.
In 2023 FLEX concentrated on the OCN Level 4 Conmiunity Inte￿[¢ting Qualification. Over 100 multilingual
individuals became fully qualified interpreters giving them access to employment and the opportunity to assist theix
communities. FLEX continued to give back to the interpreters in lin¢ with our social enterprise ethos and values
through the interpreter's perks programme as well as a melltsl health PTogramme for interyreters in patsership with
Inspire.

WEST BELFAST ENTERPRISE BOARD LIMITED
Report of the Trustees
FOR THE YEAR ENDED 31 DECEMBER 2023
Ortus Property Services has perforn]ed well in tbe year against projections and has solidified its management contracts
across the board. We have expanded the propety management services in the year with a contract to support St
Comgalls Social enterprise project. This management contract has been ￿]RY implemented in 2023. We have also
returned fully to service with Fire Risk Nl and the business is peTfoTming well.
We have added to the portfolio of Properties with the purchase of the site adjacent to Westiink and are plawking fillther
development on that sits. We purchased Whiterock Business Park and have invested considerably to have the new park
(Cityview Business Park) opened. This has been a vacant site for almost 20 years and we have completely regenerated
the site, facilitatillg the creation of n]any new jobs in an area of social alld economic deprivation. Both these projects are
fulty operational in 2023 and are providing a great service in those communities.
We have also supported many schools and charities in our community over 2023. These have included a nun]beT of
Aisling bursaTies to people re-enteritig or returning to education and learning. supporting local schools with sports
equipment. and supporting local festivals and activities for Children.
Financial review
Financial positio
The Consolidated Statement of Financial Activities for the year ended 31 December 2023 alld Consolidated and
company Balance Sheets as at that date are shown in the attached f]naDcial statements.
Total income for the year to 31 Decejnber 2023 is £3,239,346 (2023.. £3,075,588) wbich is up £163,758 on the PTevious
Total expenditure for the year is £2,949,856 (2023: £2,712,953) which is up £236,903 on the previous ye￿.
Net surplus for the year before fair value movement was £289,490 compared to net surplus of £362,635 before f&iT
value n]ovemenL for the previous year.
The Statetnent of Financial Position remains healthy with Net Assets in excess of £1 I million, of whicb all but £7,406
relates to Unrestricted funds.
Reserves policy
The Board of Trustees has established a policy whereby the UDTestiicted Funds not couunitted or invested in tangible
f￿ed assets for charity use (Ibe free reserves) held by the Company should be between 3 and 6 months of the resources
expended. At tbis level, the Trustees feel tbat they would be able to continue the current activities of the COEnpany. In
the event of a significant drop in funding, it would obviously be necessary to consider how the funding would be
replaced or activities change

WEST BELFAST ENTERPIUSE BOARD LIMITED
Report of the Trustees
FOR THE YEAR ENDED 31 DECEMBER 2023
STRATEGIC REPORT
Principal risks and ullcertainties
The trnstees have a risk management strdtegy in place which comprises:
An annual review of the risks the cornpany and its subsidiaries face by the Finance audit and risk cotnmittee and the
b0￿d of trnstees.
The quarterly monitoring of risks by the Finance, audit and risk con]mittee'
The annual external review of risk and risk proceduTes as part of the ISO Quality mallagement audit.
The establis]llnent of systems and PTo¢edures to mitigate those risks identified in the plan, and;
The implementation of procedures designed to n]inirnise any potential impact on the company should those Tisks
materialise.
This strategy has belped identify tbe major risks to which the company is potentially exposed, assessed those risks and
put ill place systems to mitigate the risks.The 1n￿tee$ are committed to adopting best practice in the identificatioll,
evaluation and cost effective control of risks, to ensure that the charities exposuTe is minimised or eliminated where
possible.
Principal areas of risk identified as a result of the processes in place include.
Finaucial risk
The highest Tisk identified is the impact of the current economic climate on revenue strea]ns and the effect of external
infiuences and legislation on its ability to manage costs. To manage this risk a stringent budgeting procedure bas been
established to identify and maximise all income streatns and to tightly mange cost control. Ln addition an ongoing
progrdmme of reviewing and updating the entire organisations operation PTo¢edures and policies has comrn¢n¢ed.
Operational risk
Ensuring the provision of its services to the groups many tennets and ¢ustomer5. SeTvice provision & quality of same
is given tbe higbest priority within the cbarity.
Health and Safety
A detailed plan of assessments, training and reviews has been developed aDd implejnented to ensure the physical risk of
injury or liability to any service user, staff tnember or member of the public when assessing the charities facilities or
servi¢es is n]inimised.
In addition to the above a detailed risk register is kept and reviewed by the trustees and they are satisfied that the
systems in place manage exposure to the major risks identified.
Business continuity plans exist for every major service area and these are reviewed regularly.

WEST BELFAST ENTERPRISE BOARD LIMITED
Report of the Trustees
FOR THE YEAR ENDED 31 DECETrtBER 2023
STRATEGIC REPORT
Future plans
The trustees are fijlly committed to a robust programme of reinvestr(Lent of SU￿luseS into the company through a
detailed capital investment plan across the five sites. We acqu2red the site adjacent to the Westlink site and have
invested heavily in an area of high social and economic deprivation with the hope to attract new businesses and jobs to
tbat area. We have secured new tenants onto that site in 2023.
We have also acquired the Whiterock site and COEnpl¢ted a substantial investment plan in 2023 to allow us to attract
new business and jobs into another area of high socio-economic deprivation. Phase l of the project is now Complete and
has made a substantial in]pact in the are4 creating a supporting over 50 jobs. We will endeavour to complete phase 2 in
the coming Ye￿$,
We also hope to Continue to develop plans for several new sites and ale working closely with Government Departrnents
to develop sustainable development plans for these sites, through the government policy of Community Asset Transfer
opportunities.
However, the ¢apital works planned for 2024 will focus on the development of the physical infrastruclmre of the site
adjacent Westlink Enterprise Park. the Dairy Farn] complex and the Whiterock site. We have developed ]najoT new
plans foT the Dairy Fam complex.
It is our iutention to complete relatively rnajor groundworks across the 5Ltes in 2024 including the redevelopn]ent of the
frontage of Twin Spires.; develop a solar eneTgy policy and implementation across the sttes,. and drive forward our
ambitious plans to develop a social enterprise hotel.
There will be an expansion of training and development services which will target the haTdest to reach in our
Ottllnunities with resource allocated specifically to assist unemployed people to get back to work and self-¢niployment.
The Trustees are regularly reviewing the euryent impacts crisislecononkic downturn. spiralling costs and its potentiaI
effects on the business. tenants and the local community.
STRUCTURE, GOVERNANCE Af4D MANAGETh￿NT
Governing document
The ch￿lty is controlled by its govemiug document a deed of ttwt, and constiwtes a limited compatky, limited by
guarantee, as der￿ed by the Companies Act 2006.
The company is governed by a Board of Trustees which operates as detailed in the company's governing document, the
Memorandum and Articles of Association.
The Board meets between six and eigbt t2mes peT year.
subcortllllittee, the audit committee, meet on a quarterly basis and the other committees meet as necessary. A chief
executive is appointed by the board to admillister the day to day operations of the company and its subsidiaries. In the
2022 year, these meetings took place over Zoomifeams and in person as per government guidance during the Covtd
paDderni¢. The Board of ts￿Stees also met to review the year and worked to assist operational stsff with tbe strategic
plan for tbe yeaT abead.
To facilitate effective operations the chief executive, Mr Seamus OTrey has delegated autbority approved by the
trustees for operational matters such as finance, e]nployment and the delivery of its training objectives.
Recruitment and appointment of Dew trustees
Due to the natt]re of the cbarity's work the trustees seek to ensure that these needs are appropriately reflected tlkrougb
the diversity of the trustee body. To enhance the potential pool, trustees aTe requested to provide a list of theiT skills
(and update it each year) and in the event of particular skills lacking or being lost due to retiremenL individuals are
approached to offer thernselves for election.
Induction and trailling of new trustees
The board conduct skllls The chief executive ensures that appropriate induction and training is given to all new and
existing trnstees. Each new trustee is provided with a pack of information about the ￿0￿p and theiT responsibilities and
is given an opportunity to Eneet all staff.

WEST BELFAST ENTERPRISE BOARD LIMITED
Report of the Trustees
FOR THE YEAR ENDED 31 DECETr(BER 2023
STRUCTURE, GOVERNANCE ADfD MANAGEMENT
Key management remuneration
The setting of the pay and remuneration of the key management peTsonel is delegated to tbe Remuneration Committee,
n]ade up of several trustees.
Related parties
West Belfast Enterprise Board Limited is the parent company of the following wholly owned subsidiary companies:
N1019927
N1608161
Westklj￿k Enterprlses Limited
Flex Language Services Limited
RoaT & Explore Dairy Fanll
Lin]ited
Pure Class Dary Farn] Limited
FiTe Risk NI Limited
Ortus Property Services Limited
N1652507 (Charity no. 107683)
N1671387
N1617908
N1616142
' REFERINCE Af•tD ADMtNISTRATIVE DETAILS
Registered Company number
N1021888 (Northetn Ireland)
Registered Charity number
103129
Registered offiee
Ortlls
155 Nortbun)berland Street
Belfast
BT13 2JF
Trustees
Mr JatDes Joseph Collins Plant Manager (Retired)
Prof Robert Wallace Ewart University Dean
Mrs Liz Groves Welfare Support Officer
Mr Gerard Mccann
Mrs Jacqueline Mccoy Senior Lecturer
Mr Teny M¢¢rndden DiTector
Mr Noel Francis Rcponey DiTe¢tor
Mr Gery Ward Community Ente￿rise Manager
Ms Emer Hinphey HK Consultant
Mrs Arlene O'connor PR Consultant
Company Secretary
Mys Jacqueline Mccoy
Auditors
M.B.Mc Grady & Co
Chartered Accountants
Statutory Auditors
Rathmore House
52 St Patricks AveThue
Downpatrick
Co. Down
BT30 6DS

WEST BELFAST ENTERPRISE BOARJ) LIMITED
Report of the Trustees
FOR THE YEAR ENDED 31 DECEMBER 2023
STATEMEPU OF TRUSTEES, RESPONSIBILrrIES
The ttustees (who are also tbe directors of West Belfast Ente￿rISe Board Limited for the purposes of company law) are
responsible for preparing the Report of the Trustees and th¢ finaThcial statements in accordance with applicable law and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pra¢tice) including Financial
Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland"
Company law requires the t￿Ste¢S to prepare finarkcial statements for each financial year which give a tme and fair
view of the state of affatrs of the charitable company and of the in¢oTDing resources and application of resources,
including the income and expenditure. of the cFLaritable company for that period. Ill preparing those fin8Th¢ial
statements, tbe trustees are required to
select suitable accounting policies and then apply them consistently.
observe the methods and prlnciples in the Charity SORP.
make judgements aThd estimates that are reasonable and prudent.
state wbether appli¢able accounting standards have been followel subje¢l to any material departu￿$ disclosed and
explained in the fmallcial statemeuts.
pffpare the fmancial statements on the going con¢¢rn basis unless it is inappropriate to presume that the charitable
company will continue in business.
The trustees are responsible for keeping proper accounting records wbich disclose with reasonable accura¢y at any time
the f￿ancial position of tbe charitable company and to enable them to ellsure that the fmancial statements ¢omply with
the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable compauy and hence for
tskiDg reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
there is no relevant audit infomiation of which the charitsble company's auditors are uttaware. and
the trustees have taken all steps that they ougbt to have taken to make themselves aware of any relevant audit
information and to ¢stabEish that the auditors are aware of that information.
AifDITORS
The tduditors, M.B.M¢ Grady & Co, will be proposed for Te-appointment at the forthcoming Annual General Meeting.
Report of the trustees, incorporating a strategic report, Approved by order of Ébe board of trustees, as the company
director
on 20 June 2024 and signed on the board's beh81f by..
Mr James Joseph Collins - Trustee