Company ragistration number N1053673 (Northern Ireland)
Charity registration number NIC103204 (Northarn lrnlandl
SKAINOS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025

SKAINOS LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Tru5tses
Rev B B Anderson
Mr N A Blair
Mr B Maxwell
Ms B Mcconnell
DrT D Dobbin CBE
Mr M Mullan
Mr PT McEvoy
Ms F K KiTkpatri¢k
Mr M J Doherty
MrRWJBell
MrAR Haley
Ms N Connery
Mr J Ireland
(Appointed 17 February 20261
{Appoinled 11 November 20251
{Appointed 9 September 20251
{Appointed 11 November 20251
{Appointed 17 June 20251
(Appointed 17 June 20251
Country of incorporatlon
United Kingdom
(Northern Ireland)
N1053673
Charity r¢gi$tration
Northern Ireland
NIC103204
Reglstered office
239 Newto¥Nnards Road
Belfast
BT4 1AF
Auditor
Miscarnpbell & C¢
6 Annadale Avenue
Belfast
BT7 3JH
Bankers
Ulster Bank
Ar¢hes Retail Park
Bellasl
BTS 4AF
Solicitors
Maccorkell Legal & Commercial
Gajvey Studios
8-10 Lon9slone Street
LisbuTn
BT28 1TP

SKAINOS LIMITED
CONTENTS
Page
Trustees report
statement of trustees responsibilities
Independent audilorfs report
Statement of financlal activllles
10
Balance sheet
Statement of cash flows
12
Notes to the financial statements

SKAINOS LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2025
The trustees present their annual report and financial stslements for the year ended 31 December 2025.
The financial stalernenls have been prepared in accordance wi(h Ihe accounting policies sel out in note 1 to the
financial slalements and comply with the company's governing document, the Companies Act 2006. FRS 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP A£counllng
and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021"
Objectives and activities
The objects of the company include..
Skainos provides facilities, resources and shared space lo charities. agencies, social enterprises and communty
groups for social, economic and physical regeneration and community renewal for the people of East Belfastl. being
an area of severe so¢ial and economic deprivation. The benefits provided to the local community include..
lil the the relief of poverty in such ways as may be thought fit.,
111) the piovlslon of accommodation for the homeless and those seeking affordable social housing..
lili} the relief of unemployment in such way$ as may be thought fit, including as51Stance lo find employment.,
livl the advancement of education, training or retraining. particularly among unemployed people, and providing
unemployed people with work experience and help.. lil in setting up their own business, or lill obtaning employment
in existing businesses..
Iv) the provision of affordable chlldcare and nursery services.,
Ivil the provision of counselling services relating lo mental health, housing, managing household and personal debt.
alcohol and substance abuseladdiction..
Iviil providing a meeting place and a calalysl for communty activity including hosting those involved in peace
building and cross community activities and seeking to come up with local initi'atives lo cement peace in Inner East
Belfast.
Public benefif
The trustees have paid due regard to guldance issued by the Charity Commission in deciding what aclivilles the
ompany should undertake.

SKAINOS LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Achiovgm•nts and performanc8
Signilicant aclivities and achievements against objectives
Occupancy level and activities taking place in the Skainos Centre continued to grow during 2025 and together with
actlons belng taken lo manage Costs helped deliver a small surplus before depreciation despite the impact of
inflation and higher costs.
Frazer Kidd have continued in their role as Managing Agents to the Skainos Centre on behalf of Skainos and its
lenanls. During the year with their support, the Trustees have continued to maintain and improve the infraslruclure
and fa¢ililies in the Skainos Centre for the benefit of existing and future tenants and lo encourage its use resulting in
increased occupancy and room hire activity for community events.
A¢tions tsken during the year included refurbishing the heating system, commencing a programme of roof repairs
and setbng up an Outreach and Engagement Committee to grow activity levels in the Centre and the services
provided lo the local community. We have also started to investigate how lo restorelreplace the 'Ll￿7n9 wall which
died due to lack of specialist support as a result of the restriction5 during the Covid pandemic.
We continue to work closely in support of those charities. enterprises and agencies who have chosen te operate in
Skainos Square. Thanks. are therefore due to East Belfast Mission Including Hosford Homeless Hostd and the
Turas Irish Language s¢htsol, Cairde Turas, Choice Housing, BHSCT, Book Trust, Age Nl, Tear Fund, Clear Day
Nursery, Specialisterne, Volunteer Now, Housing Rights, Alcoholics Anonymous, and lo new tenants Corrymeela.
CD Fairfield Capital, The Painl Shop @ Skainos and Threshold. Two further new tenants have taken up units in the
first quarter of 2026 House and Aelheria Tech.
Financial review
The defi¢it for the year ended 31 December 2025 was £256.904 after depreciation of £314.272 12024 - deficit of
£284,498 after depreciation of £315,400).
Despite the impact of inflation. Skainos continued lo generate a cash surplus In 2025 before Inte￿st and
depreciation IEBITDAI of circa £35k helped by better management of costs, improved oc¢upan¢y and inueased
room hire income. Loan repayments of circa £15k were made in the year with the outstanding debt at the year-end
of £44.6k. The board has continued with ils transformation programme aimed al improving the Charity's outcomes
and its short and long-temi financial strength. Nel reseNe$ after allowing for outstandin9 debt at the end ol
December 2025 were £53.3k.
Going concem
The Company made a small surplus at EBITDA level in 2025 and increased its cash reserves wlh futher improved
financial performance being delivered in the first quarter of 2026. After reviewing ils performance and forward
financial projections, the directors have a reasonable expectalien that the company has adequate resources lo
continue In operational existence for the foreseeable future. For this reason, they continue lo adopt the going
Concern basis in preparing the financial statements.
After reviewing its performance and forward financial proje¢tlons. the directors have a reasonable expectation that
the company has adequate resources to continue in operational existence for the foreseeable future. For this
reason, they continue to adopt the going Concern basis in preparing the financial statement$. Further details
regarding the adoption of the going concem basis can be found in note 1.
Resewes polKy
11 is the policy of the company that unreslri¢led funds which have not been designated for a specffic use should be
maintsined al a level equivalent to bets￿een three and six month's expenditure. The trustees consider that reserves
al this level will ensure that, in the event ol a significant drop in funding, they will be able to continue the company's
Current activities while consideration is given lo ways in which additional funds may be raised. This level of reserves
has been mainlalned throughout the year.

SKAINOS LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Unrostrl¢tgd reserves
Unrestricted reserves I'free reserves'l are those ￿SerVeS ￿1¢h Skaino$ can expend at the discretion of the
directors to promote the objects of the charity.
Thè company needs to maintain a level of unrestricted reserves in order to..
Ensure that il continues lo operate on a going concern basis and remains viable to be able to adapt its activities
from tirne lo time to cope ¢hanging circumstances, which cannot always be reliably foreseen and anticipated.,
Provide for working capilal or regular fluctuations in income and expenditu￿. Given the nature of the company's
multiple funding streams, incomings and oulgoings do not always coincide exactly resulting in peaks and troughs
which need lo be provided for to ensure continuity of Service provisiori,. and
Provide fvnding lo implement a improvements for the benefit of tenants and the local community using the
services provided at the Skainos Centre.
The directors do not believe that the company needs excessive amounts of unrestricted reserves. However, the
directors have est8blished a policy whlch is reviewed annually, whereby the unreslricled funds held by the charity
should be a target of at least three months of average expenditure which currently is around £80k v current net
reserves of £54k.
Unrestrictsd designatod r&$or¥0$
Unrestricted designated reserves comprise unrestri¢ted funds designated for a patticular purpose by the director5.
These are typically reserves sel aside for maintenance projects.
R•strictsd resorves
Re$lri¢ted reserves a￿ those reserves which have specific conditions attached lo them as to how they are spent.
This has arisen due to the receipt of ¢apilal funding from East Belfast Mission, the Department for Social
Development, the International Fund for Ireland and the Special EU Programmes Body which under the terms of the
fijnding agreement. there is a requirement for Skainos to facilitate the perfom)8nce of certain community related
activities for a number of years.
The board has continued with its transformation programme airned at improving the Charity's outcomes and ils
short and long-term financial strength. Net reserves after allowing for oulslanding debt al the end of December 2025
were £53.3k. The continued financial perfomiance in 2025 and in the first quarter of 2026 in sustsining a cash
surplus and building reserves together with financial projections provides the Board ¥￿th necessary assurance that
the Company can continue to be considered a going concern.
Major risks
The board assesses the major risks to which the charity is exposed on an ongoing basis. The Risk regisleT IS
monitored during the year highlighting current risks related lo the operations and finances of the company and the
board is satisfied that actions are being taken to mitigate our exposure to the major risks.

SKAINOS LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Plans for future perfods
The board has carried out a strategic review process designed to refresh ils operatlng model for Skainos lo ensure
ils long-term sustainability and that its facilities and activities continue to be relevant for the emerging local social
need. Having implemented the recommendations of an expert review of its healing system during 2025. a condition
survey has now been carried out on the Cenlre's variou5 roots and a rernedial programme of work being prepared
lo ad[1￿$$ the identified work programmes which will be largely delivered during 2026 and 2027.
The board's focus continues lo be on maintaining an excellent facility and developing our activities so a5 to meet the
evolving needs of the local community and improve their well-being. Particular emphasis is on providing more
activities for young people and promoting the arts and we plan to host several events in the 2026 Eastside Arts
Festival.
Skain05 has also continued lo evolve in response to the new ways of working and living that have evolved post the
pandemic and with the changing make up of those living in East Belfast. We will continue lo work in partnership wth
East Belfast Mission, Choice Housing and other tenants and local partners to optimise overall outcomes for the
community we support.
Structure. governance and manag•m8nt
The company is incorporated as Skainos Limited and registered in Northern Ireland as a company limited by
guarantee and not having a share capital. Ils ￿MpanY number is N1053673.
The company is governed by ils Memorandum and Articles of Association. The company has been granted
charitable status by the Inland Revenue and accordingly is exempt from income lax. corporation lax and ¢apilal
gains tax. Ils charity reference number is NIC103204.
The trustees. who are also the directors for the purpose of company law, and who served during the year and up lo
the date of signature of the financial statements were..
Rev B B Ander50n
Mr J D Anderson
Mr N A Blair
Mr G C Capper
Mrs C Ervine
Mr B Maxwell
Ms B Mcconnell
Ms A O'Kane
DrT D Dobbin CBE
Mr M Mullan
Mr P T McEvoy
MrMwG￿Y
Ms F K Kirkpatrick
Mr M J Doherty
MrRWJBell
MrA R Haley
Ms N Connery
Mr J Ireland
(Reslgned 18 February 20261
(Resigned 18 February 20251
(Resigned 18 February 2026)
(Resigned 18 February 2026}
IResigned 25 April 20251
IAppointed 17 February 20261
IAppointed 11 November 20251
IAppoinled 9 September 20251
(Appointed 11 November 20251
(Appointed 17 June 2025)
(Appointed 17 June 2025)

SKAINOS LIMITED
TRUSTEES REPORT {INCLUDING DIRECTORS, REPORT> (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Recruilment and appointment ofiwstees
The management of the cornpany is the responsibility of Ihe Trustees who 8re elected and co-OPted under the terms
of thè Memorandum of Association. Serving directors havg the power to appoint any person as an additional
director. The number of directors Serving at any tim8 should not exceed fourteen. At each yearfy AGM. a ￿1rd ol
the d1￿CtorS aro requlred to retire of a rotational basis, and the can be re-appointed.
Charity trustees musl comply vAth the rule5 set out in their charily'5 goveming document, including rule5 regarding
who can ba a charity trustee. when and how charity trust6ès ar& appointed and how long appointments Can lasl.
None of the tFUStees has any beneficlal Inte￿$t In the company. All ol the trustees are members of the company and
guarantee to contribute £1 in the event ol a winding up.
The company's current policy concerning the payment ol trade cieditors is to..
settle the terms of payment with suppliets when agreeing the terms of each Iransaction.,
ensure that suppliers are made aware ol the terms of paymenl by inclusion of the relevant terms in contracis-
and
pay in accordance with the company's conlraclual and other legal obligations.
lftduction and Iraining of tmstees
New board members receive all induction pro￿$5. and the training needs ol the board are assessed brther on a
regular basis. A corficts of interest pdicy has been irn￿eMented.
Funds held as custodian trustee
No funds are held as custodian on behalf of others.
Auditor
In accordance with the wrnpanls artides, a resolution proposing that Miscampbell & Co be reappoinlgd as auditor
ol the company will be put at 8 General Meeting.
Disclosure of infomiation to auditor
Each of the truslees has confirmed that there is no inlomalion ol which they are aware which is relevant to the
audit, but of which the auditor is unawa￿. They have further confimed that they have taken appropriate steps to
identlfy such relèvant infomiallon and to establlsh that the audltor is aware of such inforrnation.
Thtr tr
report was approved by the Board of Trustees.
Dr T D Dobbin CBE
Trustee
18 June 2026

SKAINOS LIMITED
STATEMENT OF TRUSTEES RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2025
The Iruslees. who are also the dlreclors of Skalnos Limtted for the purpose of company law. are ￿ponSIble for
preparing the Trustees Report and the financial slalements in accordance with applicable law and United Kingdtrm
Accounting Standards {Uniled Kingdom Generally Accepted Accounting Practi￿).
Company law requlres the Iruslees lo prepare financial ststements for each financial year which give a true and fair
view of the stale of affaits of the 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 Iruslees are required lo..
select suitsble accounting policies and then apply them consislenlly..
observe the methods and principles in the Charities SORP.,
make judgements and estimates that are reasonable and prudent., and
prepare the financial slalemen15 on the going con¢em basis unless it is inappropriate to presume that the
company continue In operation.
The Iruslees are responsible for keeping adequate accounting records that disclose wth reasonable accuracy at
any time the financial position of the company and enable them to ensure that the financial statements comply wlh
the Companies Act 2006. They are a150 responsible for safeguardin9 the assets of the company and hence for
tak¢'ng reasonable steps for the prevention and detection of fraud and other irregularities.

SKAINOS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF SKAINOS LIMITED
Opinion
We have audlled the financial statements of Skainos Limited (the 'company'l for the year ènded 31 December 2025
whi¢h Comprise the slalemenl of financial activities, the balance sheet. the slalemenl of cash flows and notes lo the
finan¢ial statements, including significant accounting policies. The financial reporting framework that ha5 been
applied in their preparation is applicable law and United Kingdom Accounting Standard5. including Financial
Reporting Standard 102 The Financial Reporting Standard applicable in the UK and RepublK of Ireland (United
Kingdom Generally Accepted Accounting Practice).
In our opinion. the financial slatemenls:
give a true and fair view of the stste of the charitable companls affairs as at 31 December 2025 and of its
incoming resources and appli￿110n of resources, including ils income and expenditure, for the year then
ended.,
have been properfy prepared in accordance with United Kingdom Generally Accepted Accounting Practi￿..
and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basi5 for opinion
We conducted our audit in accordance with Intemational Standards on Auditing IUKI {ISA8 IUK}l and applicable
law. Our responsibilities under those standards are further described in the Audilorfs r8spoftsibilit￿s for th& audil ol
the financial statements section of our report. We are independent of the company in accordance with the ethical
requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical
Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audit evidence we have obtsined is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial slalements, we have concluded that the trustees use of the going concem basis of
accounting in the preparation of the fina￿la1 $lalemenls is appropriate.
Based on the work we have performed. we have not identified any malerbal uncertainties relating to events or
condillons that, individually or collectively. may cast significant doubl on the company's ability to continue as a going
¢oncem for a period of at least ￿1ve months from when the financial stslements are authorised for issue.
Our responsibilrties and the responsibilities of the trustees with respect lo going concem are des¢ribed in the
relevant sections of this report.
Oth¢r information
The other Informa￿on comprises the infomation included in the annual report other than the financial statements
and our auditor's report Ihereon. The truslees are responsible for the other information contained within the annual
Teport. Our opinion the financial statements does not cover the other information and, except to the extent
otherwise explicitly slated in oijr report, we do not express any form of assurance conclusion Ihereon. Our
responsibility is lo read the other information and. in doing so, consider whether the other information is materially
inconsistent with the financial ststements or our knO¥￿edge obtained in the course of the audit, or tslhetwise appears
lo be materially misstated. If we identify such material inconsistencie5 or apparent material misstatements, we are
required lo determine wholher this gives rise to a material misslalement in the financial stslemenls themselves. If,
based on the work we have performed. we conclude that there 13 a malerbal misstslement of this other information,
we are required lo report that fact.
We have nothing lo report in this regard.
Opinions on other matters pr&$¢rlb¢d by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit=
the information given in the Iruslees report for the financial year for which the financial statements are
prepared, which includes the directors, report prepared for the purposes of company law, is consistent with the
finan¢ial slalements.. and
the direclors, ieport included within the trustees report has been prepared in accordance with applicable legal
requirements.

SKAINOS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF SKAINOS LIMITED
Matters on which are required to report by exception
In the light of the knowledge and understanding of the company and ils environment obtained in the course of the
audit, we have not identified malerfal mlsslatemenls in the directors, report included wthin the trustees report.
We have nothing lo report in respect of the following matters in relation to which the Companies A¢1 2006 ￿qUireS
us lo report lo you if, in our opinion..
adequate accounting records have not been kept, or relums adoquatg for our audit have not been received
from branches not visited by us., or
the financlal statements are not in agreement wth the accounting records and returns., oi
certain disclosures of trustees. remuneration specified by law are not made., or
we have not received all the infomation and explanations we require for our audit.. or
the IrLJStees were not entitled lo prepare the financial statements in accordance with the small companies
regime and take advantage of the small companies. exemptions in preparing the trustees report and from the
requirement to prepare a strategic report.
Responslbilltles of trustso$
As explained more fully in the slalemenl of trustees responsibilities, the Iruslees. whe are also the dire¢lors of the
company for the purpose of company law. are responsSble for the preparation of the financial slalemenls and for
being satisfied that they give a true and fair view. and for such intemal control as the trustees determine is
necessary lo enable the preparation of financial statements that are f￿e from material misstatement, whether due
to fraud or error. In preparing the financial stsl@ments, the trustees are responsible for assessing the company's
ability tts ¢onlinue as a going ¢oncern, disclosing, as applicable, matters related to going concern and using the
going ¢oncein basis of accounting ijnless the trustees either intend to liquidate the charitable company or lo cease
operations, or have no realisti¢ alternative bul lo do so.
Auditorfs responsibilities for tho audit of the financial statsmonts
Our objectives are to obtsin reasonable assurance about whether the financial statements as a Who￿ are free from
material misstatement, whether due lo fraud or error, and lo issue an auditor's report that includes tsUT opinion.
Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance
with ISAS IUKI will always detect a material misslalement when it exists. Misslalemenls ¢an arise from fraud or
error and are considered material if. individually or in the aggregate, they could reasonably be expeded to influence
the economic decisions of users taken Csn the basis of these financial slal&ments.
Irregularities, including fraud. are instan￿5 of non-compliance with laws and regulations. We design procedures in
line with our responsibilities. outlined above, lo delecl material misstslements in respect of irregularities, including
fraud. However. the primary responsibility for the prevention and detection of fraud rests with both those charged
with governance of the Company and management. The extent to which our procedures are capable of detectir19
i￿egUlar1ties, including fraud ig detsiled below".
obtained an understanding of the legal and regulatory frameworks that are applicable lo the Company and
determined that the most significant are those that relate lo the reporting framework {FRS 102 and the
Companies Act 20061 and the relevant tax compliance regulation in the United Kingdom."
• understood how the Company is comptying with those frameworks by making enquiries of management lo
understand how the Company maintains and communicates ils policies and procedures in these area5,'
assessed the vulnerabilty of the Company's financjal staternen15 to material misstatement, in¢lurling how
fraud might occur by considering the risk of management override and by assuming revenue recognition lo
be a fraud risk; and
based on this understanding our audit procedures were designed to identify n0￿cOmpliance with such laws
and regulations.

SKAINOS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF SKAINOS LIMITED
We assessed thè susceptibility of the company's financ*al statements lo rn81grial misstatèmgnt. including obtsining
an understanding of how fraud might occur, by",
Identification of related parties..
Making enquiries of rn8nagement regarding where they conside￿d there was susceptibility to frdud, thdr
knowledge gf 8clu81. su5peded and alleged fraud..
Considering the inlemal control8 in ￿aCe within the company lo mitigate the risk of fraud and non-
compliance with laws and regulations..
To 8¢Ydrtr$s the risk of fraud, override of controls and non-compliance with laws and regulations. we performed
analytical procedures to identify any unusual or unexpected related party relationships, tested journal entries to
identity Ljnusual Iransactions, investigated any significant or unusu81 transactions and assessed whether
ludg8m8nts and assumptKJns made in d8t8rmining the accounting e5timate5 were suggestive of potential bias.
A furthèr dèscription of our Tesponsibilitle5 is available on the Financial Reporting Council's websiie al.. hllps.'Il
www.frc.org.uklauditor5responsibilitie5. This description fomis part of our auditorfs report.
Use of our report
This report is made solely lo the cornpany's members, as a body, in accordanc8 with Chapter 3 01 Part 16 of the
Comp3nies Act 2006. Our audit work ha5 been undertaken so that we mvJht stale to the company's members those
matters we ale required to state to them in an auditorfs report and for no other purpose. To the fullest extent
pemiited by law. w8 do not 8CC8Pt or assume ￿sPOnsIbl11ty to anyone other than the company and the company's
members as a body, for our audit work, for this report. or for th8 opinions we have fomed.
ZMP
Jonathan R Bethel Isanior Ststutory Auditor)
For and on behalf ol Miscampbell & Co, SiatutoryAuditor
Chartered Accountsnts
6 Annadalè Avenue
Belfast
BT7 3JH
18 June 2026

SKAINOS LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING INCOME AND EXPENDITUREACCOUNTI
FOR THE YEAR ENDED 31 DECEMBER 2025
Unrestrlcted R￿trIcted
funds
funds
2025
2025
Total Unrestricted Restricted
funds
fund$
2024
2024
Total
2025
2024
Notey
Income from:
Donations and legacies
Charitable activities
Investmen15
29,709
598.179
514
29.709
598.179
514
27,838
551.496
1.252
27,638
551,496
1,252
Total incoma
628,402
628,402
580,386
580,386
Expèndlture on:
Charitable activities
885,306
885,306
844,884
844,884
Totsl axpandlture
885,306
885,306
844,884
844,884
Net expenditure and
movement In funds
{256,904)
{256,9041
{264,4981
1264.4981
Reconciliation of funds:
Fund balances al 1 January
2025
{6,342.996} 14.927,494 8,584,498
{6,078,4981 14,927,494 8,848,996
Fund balan¢es at 31
De¢Èmbèr 2025
16.599,9001 14.927.494 8.327.594
{6,342.9961 14,927,494 8,584.498
The ststement of financial activities include5 all gains and losses recognised in the year. Atl income and expenditure
derive from continuing aelivities.
10-

SKAINOS LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2025
2025
2024
Notes
Fixed a5set5
Tangible assets
11
8,283.664
8,597.320
Current assets
Debtors
Cash al bank and in h8nd
12
103.988
136.924
144,103
69,178
240.912
213,281
Creditors: amounts falling due within
one year
14
1167.7671
1184,0951
Net current assets
73,145
29.186
Total assets less cUr￿nt liabilities
8.356,809
8,626.506
Creditors= amounts falling due after
more than one year
15
129,2151
I42.￿8)
Net assets
8,327,594
8.584,498
The funds of th• Company
Restricted income funds
Unrestricted funds
16
17
14,927,494
16,599,900)
14.927,494
16,342,996}
8,327.594
8,584,498
he financial statements were approved by the trustees on 18 June 2026
Or T D Dobbin CBE
Trusteè

SKAINOS LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
2025
2024
Notes
Cash from operating activltlos
Cash generated from operations
20
80,841
1.748
Investing a¢tlvltle5
Purchase ol tangible fixed assets
Investment income re￿iVed
{6161
514
1791
1,252
Net cash {used Inygenerated from investing
activities
11021
1.173
Financing actlvities
Repayment ol bank loans
112,793)
{11.995}
Net cash used in financing activities
112,7931
111,9951
Net Increasel{decrease) in ca$h and cash
&qulvalgnts
67,746
19,0741
Cash and cash equivalents at beginning of year
69,178
78,252
Cash and cash equlvalents at end of year
136,924
69.178
12-

SKAINOS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Accounting polieie$
Charity infomiation
Skainos Limited is 8 private company limited by guarantee incorporated in Northern Ireland. The registered
office is 239 Newtownards Road, Belfast, BT4 1AF.
1.1 8a$lg of preparation
The financial 51alements have been prepared in accordance wth the Companies Act 2006. FRS 102 °The
Financial Reporting Standard applicable in the UK and Republic of Ireland. I'FRS 102,1 and the Charities
SORP "Accounting and Reporting by Gharities". Stslemenl of Recommended Practice applicable lo charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021" leffective 1 January 20191- Thfr company is a Public Benefit Enlily as defined
by FRS 102.
The financial statement3 are prepared In sterfing, which is the ftjnctional currency of the company. Monetary
amounts in these financial 5tstemenls are rounded to the nearest £.
The financial statements have been prepared under the historical Cost convention. The principal accounting
policies adopted are set out below.
1.2 Golng concern
At the time of approving the financial slalements, the trustees have a reasonable expectation that the
company has adequate resources to continue in operational existence for the foreseeable future. Thus the
Iruslees continue lo adopt the going ¢on¢ern basis of accounb'ng in preparing the financial slalemenls.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable
objectives.
Restricted fund$ a￿ subject lo $pecific conditions by donors or grantors as lo how they may be used. The
purposes and uses of the reslricled fiJnds are set out in the notes to the fin8n¢i81 ststements.
1.4 Income
Income is recognised when the company is legally entitled lo il after any performance condS1ions have been
met. the amounts can be measured reliably, and il is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recogni$ed once the company has been
notified of the donation. unless performance condrtions require deferral of the amount. Income tax recoverable
in relation lo donations received under Gift Aid or deedg of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the company has been notified of an impending
distribution, the amount is known, and ￿CeIpt is expected. If the amount is not known, the legacy is treated as
a contsngenl asset.
13-

SKAINOS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Accounting polici0S
{Continued)
1.5 Expènditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit lo
third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of
the obligation can be measured reliably.
Expenditure is classified by aclivlly. The costs of each activty are made up of the total of dir&1 costs and
shared costs, includlng support costs Involved in undertaking each activity. Direct costs attribu18ble to a single
activity are allocated directly lo that activity- Shared costs which contribute to more than one activity and
support costs whi¢h a￿ not attributsble lo a single activity are apportioned between those activit￿$ on a basis
consistent with the use of resources. Central staff costs are allocated on the basis of lime spent, and
depreciation charges are allocated on the portion of the asset's use.
1.6 Tanglble flxed assets
Tangible fixed assets are initially rneasu￿d al cost and subsequently measured al cost or valu8tlon, net of
depre¢iation and any impairment losses.
Depreciation is re¢ognised so as lo write off the cost or valuation of assets less their residual values over their
useful lives on the following bases..
Freehold land and buildings
Office equipment
2% Slraighl line method
25% Straight line method
The gain or loss arising on the disposal of an asset is deleTmined as the difference between the sale proceeds
and the carrying value of the a$set, and is recognised in the stslemenl of financial aclivilies.
1.7 Impalrmgnt of fixed assets
At each reporting end date, the company reviews the carrying amounts of its tsngible assets lo detemiine
whether there is any indication that those assets have suffered an impairment loss. If any such indication
exis15, the re¢ovorablo amount of the asset is estimated in order lo determine the exlenl of the impairment
loss lif any).
1.8 Cash and Cash equivalents
Cash and cash equivalents include cash in hand, deposits held al call with banks, other short-temi liquid
investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in Current liabilities.
1.9 Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Inslrumenls. and Sedion 12
'other Financial Instruments Issues. of FRS 102 to all of ils financial instruments.
Financlal instruments are recognised in the company's balance sheet when Ihe company bewmes party to
the contractual provisions of the instrument.
Financia5 assets and liabilities are offset. with the net amounts prosgnt¢d in the financial slatemenls. when
there is a legally enforceable ri9hl lo set off the rectsgnised amounts and there is an intention lo settle on a net
basis or to realise the asset and settle the liability simultsneously.
Basic financial assets
B891¢ financial assets. which include debtors and cash and bank balances, are initially measured at
ITans8¢tion price including transaction c051s and ale subsequently carried at amortised cost using the effective
interest method unless the arrangement constitutes a financing transaction. where the Iransaclitsn is
measured at the present value of the future receipts discounted at a market rale of interest. Financial assets
¢18s9ified as receivable wthin one year are ntst amortised.
14-

SKAINOS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Accounting policies
{Continuedl
Basic financial liabilities
Basic financial liabilities. including creditors and bank loans are initially recognised at transaction price unless
the arrangement eonstilules a financing transaction, where the debt instrument is measured al the present
value of the future payments discounted at a market rale of interest. Financial liabilities classified as payable
within one year are not arnoth"sed.
Debt instruments are subsequently carrled al amortised cost. using the effective interest Tate method.
Trade creditors are obligations to pay for goods or setvices that have been acquired in the Ordin￿ Course ol
operations from suppliers. Amoijnls payable are classified as current liabilitie5 rf payment is due within one
year or less. If not, they are presented as non-currenl liabilities. Trade creditors are re¢ognised initially at
transa¢lion price and subsequently measured al amortised cost using the effective interest method.
Derecognition of fiTnan¢ial IITabilitiés
Financial liabilities are dere¢ognised when the company's eontractual obligations expire or are discharged or
cancelled.
1.10 Employee benefits
The cost of any unused holiday enlillement is recognised in the period in which the employee'5 services are
received.
Termination benefits are recognised immediately as an expense when the company is demonstrably
committed lo terminate the employment of an employee or lo provide termination benefits.
Critical accountlng estlmates and ludgomgnts
In the application of the Company's 8¢counling policies, the trustees are required lo make judgements,
estimates and assumptions about the Carrying amount of assets and liabilities that are not readily apparent
from other sources. The estimates and associated assumptions are based on historical experience and other
factors that are ¢onsidered lo be ￿leVant. Actual results may differ from these esllmales.
The estimates and underfying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period. or in the period of the revision and future periods where the revision affects both current and future
periods.
Donations and legacies
Unrestrlcted Unrg$tricted
funds
funds
202$
2024
Donations
Gran15
19,244
10,465
23,138
4,500
29.709
27,638
15-

SKAINOS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Charltsblo actlvltlgs
Unresticted Unresticted
funds
nds
2025
2024
Charity Incoming Resources
598,179
551.496
Income from investments
Unrèstricted Unrestricted
funds
fund$
2025
2024
Interest recewable
514
1.252
Charitable activities
Unrestrictod Unrestricted
funds
funds
2025
2024
Dep￿ciatiOn and impaimienl
Establishment Costs
Facility Management
Govemance Co$ls
314.272
492.762
72,722
5,550
315.400
480.214
44,020
5.250
885,306
844.884
885,306
844.884
Net movement in funds
2025
2024
The net movement in fijnds is stsled after chargingl(¢redilingl.'
Fees payable for the audit of the charity's finan¢ial ststements
Depreciation of owned tangible fixed assets
5,550
314,272
5,250
315,400
16-

SKAINOS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Auditorfs ramuneration
Fees payable to the charity's auditor and associates..
2025
2024
For audit servlces
Audit of the financial statements of the charity
5,550
5.250
Trustee$
None of the Irustees lor any persons connecte(I with them) received any remuneration or benefits from the
company during the year.
10 Taxation
The charity Is exempl from taxation on its acllvilleg because all Ils Sncome Is applied for charitable purposes.
11 Tanglblo flxed assets
Freehold land
and buildings
IYfj¢e
equiprnent
Totsl
Cost
At 1 January 2025
Additions
15.569.966
30,436 15.600,402
616
616
At 31 December 2025
15,569.966
31.052 15.601,018
Dgprgclatlon and impairmant
Al 1 January 2025
Dep￿ciall0n charged in the year
6,987,944
311,403
15,138 7,003,082
2,869
314,272
At 31 December 2025
7.299,347
18,007 7,317,354
Carrying amount
At 31 December2025
8.270,619
13.045 8,283.664
At 31 December 2024
8,582.022
15,298 8,597,320
12 Dabtors
2025
2024
Amounts falling due within one year.
Trade debtors
Other debtors
Prepayments and accrued income
45.408
35.192
23,388
95,136
21,923
27,044
103,988
144,103
17-

SKAINOS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
13 Loans and overdrafts
2025
2024
Bank loans
44,345
57,138
Payable within one year
Payable after one year
15,130
29,215
15,130
42,008
On 1 March 2017. the company entered into a ten year loan agreement wth Ulster Comrnunily Investment
Trust Limited for £70,000 wilhdrawable within three months. The amount was drawn on 15 August 2017.
Interest is variable, calculated as the greater of the underlying Bank of England base rale plus 2%, or 5%.
Interest a¢¢rues and is payable along with a portion of the principal am¢unt on a monthly basis within a ten
year lemi. UCIT holds first mortgage over one of the company's assets - Apartment 102, Skainos Square. 241
Newtownards Road, Belfast, B T2 1AF.
On 27 May 2020, £50,000 was drawn from Ulster Bank in relation to the Bounce Back Loan Scheme IBBLSI.
The BBLS scheme was created by the UK Government in ￿sponse to COVID-19. During the year. repayment
of £6,214 was made 12024.. £6,214), leaving a closing balance of £25,851 al the yearend 12024.. £31.3191.
The loan is repayable within 6 years of being received and the interest per yeaT is 2.5%.
14 Creditors: amounts falling due wtthin one year
2025
2024
Nots$
Bank loans
other taxation and social security
Trade creditors
Amounts owed lo associate undertakings
Other creditors
Accru818 and deferred income
13
15,130
15,130
9,484
88,166
23.783
15,143
32.389
67,734
23,783
27,016
34,104
167.767
184,095
15 Croditors: amounts falllng due aftgr morg than on8 yaar
2025
2024
Nots$
Bank loans
13
29,215
42,008
18-

SKAINOS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2025
16 Restrict8d funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust
subject to specific conditions by donors as lo how they may be used.
At 1 January
2025
At31
D¢cemb•r
2025
14,927,494
14,927,494
Prevlous year..
At 1 January
2024
At31
Decembèr
2024
Restricted funds
14.927.494
14.927,494
17 Unrestrictad funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are
not subject lo speelfic conditions by donors and grantors as lo how they may be used. These include
designated funds whlch have been set aside out of unrestricted funds by the trustees for speelfic purposes.
At 1 January
2025
Incorning
resources
Resources
expended
At31
De¢embèr
2025
General funds
16,342,996)
628.402
1885,306} 18.599,900)
Prnvlous year:
At 1 January
2024
Incoming
resources
Rosources
oxpendgd
At31
Decembor
2024
General fvnfjs
{6.078.498}
580,386
1844,8841 16,342,996)
19-

SKAINOS LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
18 Analysis of nat assgts between funds
Unrestrict8d
funds
2025
Rèstricted
funds
2025
Total
2025
At 31 Decembgr 2025:
Tangible assets
Current assetsllliabilrtiesl
Long term liabilities
{6.675.1491 14,958,813
84,827
111,682}
19.5781
119,637)
8,283.664
73,145
129.2151
16,599,900) 14,927,494
8,327,594
Unrestricted
funds
2024
Restricted
funds
2024
Totsl
2024
At 31 Decembor 2024..
Tangible assets
Current asselsllliabilities)
Long lemi liabilities
{6,361.493) 14,958,813
35,400
{6,2141
116,903}
125,1051
8.597,320
29,186
142,0081
16,342,996) 14,927,494
8,584,498
19 Related party transactions
East Belfast Mission C'EBM") is regarded as a related party by vilue of common directors on both bjards.
During the year the company contracted East Belfast Mission for the provision of facilitie5 management and
also to proivde catering services for room hire and conferences. Skainos has leased the units lo East Belfast
Mission under leases in return for rental income and a contribution towards service charges. Al 31 December
2025, £23,78312024= £23.783} was owed to East Belfast Misslon.
The company is in receipt of service charge income during the year from Choice Housing Association and
Maple and May in respect of apartments and Hosford House. Both Choice and Maple and May are regarded
as a related party by virtue of the fact there are common directors together with Skainos board members who
are members of the senior management team of Choice Housing Association and Maple and May. At 31
December 2025, Choice HoLJsing Association owed £610 12024.. £9,170) and Maple and May owed £5,708
12024.. £5,708>.

SKAINOS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
20 Cash gonarated from operations
2025
2024
Deficit for the year
1256,9041
1264.4981
Adjustments for..
Investment income recognised in slalement of ffinancial activities
Depreciation and Smpairmenl of langlble fixed assets
1514)
314.272
{1,2521
315,400
Movgmgnts in working capital:
Decrease/lin¢reasel in debtors
{Decrease) in Creditors
40.115
116,328}
17,1201
140,7821
Cash generated from operations
80.641
1,748
21 Analysis of changeg In net funds
At l January
2025
ash ffi*)￿ Al 31 December
2025
Cash at bank and in hand
69.178
87,748
136,924
Loans falling due within one year
Loans falling due after more than one year
115,1301
142.0081
115,1301
129,2151
12,793
12,040
80,539
92,579
21