REGISTERED COMPANY NUMBER: N1018888 (Northern Ireland)
REGISTERED CHARITY NUMBER: NIC103294
GROUP REPORT OF THE TRUSTEES AND
CONSOLIDATED FINANCIAL
STATEMENTS FOR THE YEAR
ENDED 31 DEI CIMBER 2024 FOR
NORTHERN IRELAND TRADE UNION
EDUCATIONAL & SOCIAL CENTRE LIMITED
McAleer Jackson Ltd
Chartered Accountants & Statutoiy Auditoi's
Ai'thui. House
41 Aithui. Street
BELFAST
BTI 4GB

NORTHERN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
CONTEI NTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page
Group Report of the Trustees
I to6
Report of the Independent Auditors
7tolO
Consolidated Statement of Financial Activities
(including income and expenditui'e account)
Consolidated Statement of Financial Position
12to 13
Company Statement of Financial Position
14to 15
Consolidated Statement of Cash Flows and
notes to Cashflows
16to 17
Notes to the Financial Statements
18to33

NORTHERN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
GROUP REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
NIOI 8888 (Northern Ireland)
Registered Charity number
NIC103294
Registered office
45147 Donegall Street
Belfast
Co Antrim
BTI 2FG
Trustees
J Bowers
B Mackin
K Doherty
M Gray
A Molloy
A McKeown
K Fleck
Company Secretary
B Mackin
Auditors
McAleer Jackson Ltd
Chaitcred Accountants & Statutory Auditors
Aithur House
41 Arthur Sti'eet
BELFAST BTI 4GB
Page I

NORTHERN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
GROUP REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
cont'd
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present
their repoit with the financial statements of the charity and the group for the year ended
31 December2024. The ti'ustees have adopted the provisions of Accounting and Reporting by
Charities: Statement of Recommended Practice applicable to charities prepai'ing their accounts in
accordance with the Financial Reporting Stand￿d applicable in the UK and Republic of Ireland (FRS
102).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the charity aiE to:
pi'omote equality through supporting the participation and inclusion of all individuals, groups and
communities.
provide support, education and training, and facilities to the unemployed and other groups
suffering from social and economic disadvantage. and
be an innovative providei. in effccting change towards a fair and inclusive society.
STRATEGIC REPORT
Achievement and performance
Review of activities
The Charity continued to focus on the delivery of programmes to support local communÈties in
disadvantaged areas, The Ch￿'ltY works closely with its partners and funders, namely the Big Lottery
Fund, Belfast City Council, IFI, Depaitment of Foreign Affairs, The Dormant Access Fund,
Department for Communities and others.
The Charity also continued to oversee the activities of affiliated social enterprises, pi'oviding guidance
and support in respect of thcii. activities.
The John Hewitt Bai. continiies to lease its pi'emises in Belfast's Cathedi'al Quartei. to a Brewery
opei'ated by a local co-opei'ative hospitality business.
Access Skills Ireland Ltd continues to opeiate as an approved training providei., working throughout
Ireland with State bodies and employers to re-skill and up-skill woikers.
BDA (Pi'opei'ty Piojects) Limited continues to provide woi'kspace and suppoit facilities to small
businesses at the Poitview Trade Centi'e premises, maintaining the high rates of occupancy that have
prevailed ovei recent years. During the year the business invested significantly in education and
upskilling capacity for the benefit of the local business community.
Page 2

NORTHERN IRELAND TRADI UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
GROUP REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
cont'd
Investmentpolicy andperfoi"n7ance
The group's policy is to maximise total investment return from all of its assets whilst utilising these
assets to deliver the company's pi'incipal chai'itable activities. The group has continued to invest in its
related undertakings to reduce long tei'm dcpendence upon gi'ant fundiiig and increase commercial
ti'ading i'evenue.
Financial review
Financialposilion
The financial results foi. the year are set out on pages I1- 12 following with the accompanying notes to
the financial statements.
Reserves policy
The reserves policy of the charity is set by the Management Committee and take the following into
consideration:
Holding sufficient reseives to support the designated funds which reflect the objects of NITU.
Balancing the vai'iable nature of the income received, and the longer-term commitments of
the charity to its various stakeholders.
Meeting those responsibilities of the Management Committee to the prudent management of
NITU.
The i'eseLV¢S will be held primai'ily as investments or in the form of tangible assets.
The level of reserves will be i'eviewed annually as part of the budget and planning process.
This actual policy papei. and levels of resei've will be revisited as pait of the planning cycle.
Withdrawal of funds from tlie reserves whethei. on an occasional oi. on a L'egulai, basis will
only be made as a i'esult of a decision taken at a Management Cominittee Meeting.
The Trustees aim to maintain to sufficient free i'eserves in unrestricted, undesignated funds to bi'idge
any funding gaps experienced by the chai'ity, and to mitigate the i'isks and costs of unplanned closure
of the organisation. The target level of funding to be held is £200,000, At the balance sheet date
£238,518 of the chai'ity's unrestricted funds after transfers wei'e undesignated, which is at the
targeted amount and an inci'ease on prior year. The Tiustees and the Management Committee ale
considering all options to secuie and retain additional unresti'ictcd funding for the forthcoming yeai..
Page 3

NORTHERN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
GROUP REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
cont'd
Reserves policy (continued..)
The Trustees aim to hold sufficient designated funds to support social enteiyrise activity and to enable
those enteryrises to operate with autonomy. In addition, reserves are maintained within the Social
Enterprise to provide a hedge against the loss of traditional project funding foi. the delivery of NITUS
objectives, and to fund the Chai'ity's capital and property maintenance plans. The Ti'ustces are satisfied
the designated funds I'cmain adequate for the time being.
Future plans
The group plans to continue to develop innovative programmcs foi. unemployed and disadvantaged
individuals and groups. In addition, the Board actively seeks opportunitics to develop social enterprise
activities that suppoit its objectives.
A key project undei. consideration by the Charity at present is the regeneration of parts of the Portview
Trade Centi'e.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Charity Constitution
The company is registered as a company limited by guarantee.
The company is constituted under a Memorandum of Association dated 21 October 1985 and is
registered as a charity with both the Charity Commission foi. Noithern Ireland and HM Revenue &
Customs.
Method of appointment or election of Directors
The oversight of the company and group is the responsibility of the management committee who al'e
elected and co-opted under the terms of the Articlcs of Association. The management committee al'e
Dii'ectoi's foi. the puryoses of Company Law.
Organisational structure and decision maliing
The management committee is appointed by the company's members in accoi'dance with the company's
Memoi'andum and Ai'ticles of Association. The management are responsible foi. the govemance of the
company and gioup. Responsibility for the day to day opei'ations of the company És delegated to the
Directors and management team and pei'foi'mance is reviewed on a monthly basis.
Page 4

NORTHERN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
GROUP REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
cont'd
STATEMENT OF TRUSTEES REI SPONSIBILITIES
The trustees (who are also the directors of Northei'n Ireland Trade Union Educational & Social Centre
Limited for the puryoses of company law) are responsible for preparing the Group Repoit of the
Tiustees and the financial statements in accordance with applicable law and United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a
true and fail. view of the state of affairs of the charitable company and group and of the incoming
resoui'ces and application of resources, including the income and expenditure, of the charitable
company and gi'oup for that period. In prep￿.Ing those financial statements, the trustees are requii'ed to
sclect suitable accounting policies and then apply them consistently.
observe the methods and principles in the Charity SORP.
make judgements and estimates that ￿'e reasonable and prudent.
state whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements.
prepare the financial statements on the going concern basis unless it is inappi'opriate to pi'esume
that the charitable company will continue in business.
The trustees al'e i'esponsible for keeping propel. accounting records which disclose with i'easonable
accuracy at any time the financial position of the chai'itable company and to enable them to ensuie that
the financial statements comply with the Compaiiies Act 2006. They al'e also responsible for
safeguarding the assets of the charitable company and hence foi taking reasonable steps for the
pl'evention and detection of fiaud and other ii'regulai'ities.
In so far as the trustees are aware:
thei'e is no i'elevant audit information of which the charitable gioup's auditors al'e unaware. and
the trustces have taken all steps tliat they ought to have taken to make themselves aware of any
relevant audit infoi'mation and to establish that the auditoi's are awai'e of that infoi'mation.
Page 5

NORTHERN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
GROUP REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
cont'd
AUDITORS
The auditors, McAleer Jackson Ltd, will be proposed for re-appointment at the forthcoming Annual
Genei'al Meeting.
Repoit of the tiustees, incorporating a strategic i'epoi't, approved by ordei. of the board of trustees, as
the company directors, on 26 Scptember 2025 and signed on the board's behalf by:
J BOWERS
Ti'ustee
Page 6

REPORT OF THE INDII PENDENT AUDITORS TO THE TRUSTEES OF
NORTHERN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
Opinion
We have audited the consolidated financial statements of Northern Ireland Trade Union Educational &
Social Centi'e Limited (the 'parent charity,) and its subsidiaries (the 'group') for the yeai. ended
31 December 2024 which compi'ise the consolidated Statement of Financial Activities, consolidated
Balance Sheet, company balance sheet, consolidated Cash Flow Statement and notes to the financial
statements, including a summary of significant accounting policies. The financial reporting framework
that has been applied in their pi'eparation is applicable law and United Kingdom Accounting Standards,
including FÈnancial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK
and Republic of Ireland, (United Kingdom Genei'ally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the group's and the parent charity's affaiis as at
31 December 2024 and of the gi'oup's incoming resources and application of resources,
including its income and exp¢nditure, for the year then ended.
have been properly prepared Én accordance with United Kingdom Generally Accepted
Accounting Practice. and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and
applicable law. Our responsibilities under those standards are further described in the Auditors
responsibilities for the audit of the financial statements section of oui. report. We al'e independent of the
charitable company in accoi'dance with the ethical requirements that arc relevant to oui audit of the
financial statements in the UK, including the FRC'S Ethical Standard, and the pi'ovisions available for
smallei. eiitities in the cii'cumstances set out in Note 27 to the financial statements, and we have
fiilfilled oui other ethical i'esponsibilities in accoi'dance with these i'equii'ements. We belicve that the
audit evidence we have obtained is sufficient and appi'opi'iate to provide a basis for our opinion.
Conclusions i"elating to going concern
In auditing the financial statements, we have concluded that the tt'ustees, use of the going concern basis
of accounting in the pi'eparation of the financial statements is appi'opi'iate.
Based on the work we have perfomied, we have not identified any matei'ial unceitainties relating to
events oi. conditions that, individually or collectively, may cast significant doubt on the company's
ability to continue as a going concern for a period of at least twelve months from when the financial
statements are authorised for issue.
Our i'esponsibilities and tlie responsibilities of the trustee with respect to going concern are desci'ibed in
the ielevant sections of this repoit.
Page 7

REPORT OF THI INDE4 PENDENT AUDITORS TO THE TRUSTEES OF
NORTHERN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
cont'd
Other information
The trustees are responsible for the other infomation. The other infomation comprises the infonnation
included in the annual report, othei. than the financial statements and oui. Repoit of the Independent
Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent
otherwise explicitly stated in our repoit, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
infoi'mation and, in doing so, consider whether the othei. information is matei'ially inconsistent with the
financial statements or our knowledge obtained in the audit or otherwise appears to be matei'ially
misstated. If we identify such mateiial inconsistencies or apparent matei'ial misstatements, we are
required to determine whether there is a material misstatement in the financial statements or a matei'ial
misstatement of the other infoi'mation. If, based on the work we have pei'foi'med, we conclude that
there is a material misstatement of this other information, we are requircd to report that fact. We have
nothing to i'epoi't in this regaid.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the Trustees, Report for the financial year for which the financial
statements al'e prepared is consistent with the financial statements. and
the Trustees, Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and undci'standing of the company and its environment obtained in the
coui'se of the audit, we have not idcntified material misstatements in the Tiustees, Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires
us to i'eport to you if, in our opinion:
adequate accounting records have not becn kept, or retui'ns adequate for oui. audit have not been
received from branches not visited by us; or
the financial statements are not in agi'eement with the accounting recoi'ds and i'etums. or
cei'tain disclosures of dii'ectoi s remunei'ation specified by law ￿'e not made. oi.
we have not i'eceived all the infoi'mation and explanations we iequiie for oui. audit.
Responsibilities of trustees
As explained mol'e fully in die Statcment of Ti'ustees Responsibilities set out on Page 5, the tt'ustees
(who al'e also the directors of the chai'itable company for the pui'poses of company law) are respoiisible
foi. the preparation of the financial statements and for being satisfied that they give a ti'ue and fair vicw,
and for such internal control as the tiiistees determine is necessaiy to enable th¢ pi'epai'ation of financial
statements that are free fi'om matei'ial misstatement, whethei due to fraud or ei'ror.
Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
NORTHERN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
cont'd
Responsibilities of trustees (cont'd)
In preparing the financial statements, the trustees are responsible for assessing the group's and the
paient Ch￿lty,S ability to continue as a going concern, disclosing, as applicable, matters related to
going concern and using the going concem basis of accounting unless the trustees either intcnd to
liquidate the gi'oup or the parent chaiity or to cease operations, or have no realistic alternative but to do
so.
Auditors, responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assui'ance about whethei. the financial statements as a whole are
free from matei'ial misstatement, whethei due to fraud oi. erior, and to issue a Report of the Auditors
that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that
an audit conducted in accoi'dance with ISAS (UK) will always detect a mateiial misstatement when it
exists. Misstatements can arise from fraud or error and are considered material if, individually oi in the
aggi'egate, they could reasonably be expected to influence thc economic decisions of uscrs taken on the
basis of these financial statemcnts.
Because of the inherent limitations of an audit, theie is a risk that we will not detect all l￿egUlarlties,
including those leading to a material misstatement in the financial statements or non-compliance with
regulation. This risk inci'eases the more that compliance with a law or regulation is i'emoved from the
events and transactions i'eflected in the financial statements, as we will be less likely to become aware
of instances of non-compliance. The risk is also greatei. regarding irregularities occuri'ing duc to fraud
lather than error, as fraud involves intentional conccalment, foi'geiy, collusion, omission or
misiepi'esentation.
Irregulai'ities, including fi'aud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect matei'ial misstatements in iespect
of il'legul￿1ties, including fraud.
The extent to which our procedures are capable of detecting ii'regularities, including fraud is detailed
below:
We obtained an understanding of the legal and regulatory framewoi'k that the P￿.ent Charity and Gioup
operates in, focusing on provisions of those laws aiid regulations that had a direct effect on matei'ial
amounts and disclosui'es in the financial statements. The key laws and i'egulations we considei'ed in this
context included the UK Companies Act, Charities Act (Nl) 2022, pensions and tax legislation, charity
legislation togethei. with provisions of othei. laws and i'egulations that do not have a dii'ect effect on the
financial statements, but compliance with which may be fundamental to the Parent Charity and Gi'oup's
ability to operate or to avoid a material penalty. This included conditions of funding from various
bodies.
Page 9

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
NORTHERN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
cont'd
Auditors, responsibilities for the audit of the financial statements (eont'd)
We tailored our response to those identified risks to include enquiring of management concci'ning
actual and potential litigation and claims, pei'forming analytical procedures to identify any unusual or
unexpected relationships that may indicate i'isks of material misstatement due to fraud, and reviewing
correspondence with HMRC and other regulatory bodies.
In addressing the i'isk of fraud through management override of controls, we tested the appropriatcncss
of journal entries and other adjustments; assessed whether the judgements made in making accounting
estimates al'e indicative of a potential bias. and evaluated the business rationale of any significant
transactions that are unusual or outside the normal course of business, of which there were none.
In identifying and assessing i'isks of matei'ial misstatement in respect of irregularities, including fraud
and non-compliance with laws and regulations, we considei'ed the following:
the nature of the industry and sector, control environment and business perfoi'mance including the
Parent Chai'ity & Group's remuneration policies, and its intei'nal and external perfoi'mance targets.
results of our enquiries of management and other key peisons about the Parent Chaiity & Group's
own identification and assessment of the risks of irregulai"ities, including those that may occur eithei. as
a result of fraud or error, and matters we identified from our review of th¢ Parent Chai'ity & Group's
policies, procedui'es and internal controls. and
the matters discussed among the audit engagement team regarding potential indicators of fraud and
where it might occui. Én the financial statements.
A further description of oui. responsibilities for the audit of the financial statements is located on the
Financial Repoi'ting Council's website at www.frc.org.uldauditorsresponsibilities. This desci'iption
forms pait of oiir Report of the Auditors.
Use of our report
This i'eport is made solely to the ch￿'Itable company's members, as a body, in accordance with Chapter
3 of Pait 16 of the Companies Act 2006 and regulations made under that Act. Our audit work has been
undertaken so that we might state to the chai'itable company's membei's those matters we are required
to state to them in an auditors, report and foi. no othei. pui'pose. To thc fullest extent permitted by law,
we do not accept or assume responsibility to anyone othei. than the pai'ent charitable company and the
charity's ti'ustees as a body, foi. oui. audit work, for this i'epoi't, oi. for the opinions we have formed.
d,lJ,ty,..,., ,.,
McAleei' Jackson Ltd
Chaiteied Accountants & Statutoiy Auditors
Aithui. House
41 Ai'thui. Street
BELFAST BTI 4GB
Date: 26 September 2025
Page 10

NORTHERN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
Total
funds
2023
Total
funds
Unrestricted Restricted
funds
funds
Notes
INCOME AND ENDOWMENTS
FROM
Donations and legacies
Charitable activities
Oth¢r ti'ading activities
Investment income
Other gi'ant income
126,010
126,010
236,413
34,825
519,997
7,896
71,681
172,483
44,439
593,953
7,896
236,413
34,825
519,997
7,896
Total
688,728
236,413
925,141
890,452
EXPENDITURE ON
Othei. ti'ading activities
Charitabl¢ activities
Governance
Investment activities
Foreign exchange on consolidation
Taxation
63,302
191,740
10,685
427,941
(135)
63,302
389,885
12,539
427,941
(135)
121,819
306,992
27,372
453,541
(17)
14,970
10
10
198,145
1,854
Total
693,533
199,999
893,532
924,677
NET INCOME/(EXPEINDITURE)
(4,805)
36,414
31,609
(34,225)
Net gainl(Ioss) on Investments
Transfers between funds
Revaluation of property
(3,955)
39,220
(3,955)
14,434
25
(39,220)
130,498
Net movement in funds
30,460
(2,806)
27,654
110,707
RECONCILIATION OF FUNDS
Total funds brought forivard
2,956,052
46,645
3,002,697
2,891,990
TOTAL FUNDS CARRIED
FORWARD
25
2,986,512
43,839
3,030,351
3,002,697
The notes fonn part of these financial statements
Page 11

NORTHIRN IRfi LAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
CONSOLIDATED BALANCE SHEET
AT 31 DECEMBER 2024
2024
Total
funds
2023
Total
funds
Notes
FIXED ASSETS
Intangible assets
Tangible assets
Investments
Investment property
15
16
17
18
283,826
617,895
2,464,830
290,665
445,017
2,534,830
3,366,551
3,270,512
CURRENT ASSETS
Stocks
Debtoi's
Cash at bank and in hand
19
20
277,670
264,116
304,349
325,571
541,786
629,920
CREDITORS
Amounts falling due within one year
21
324,094
305,236
INET CURRENT ASSETS
217,692
324,684
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,584,243
3,595,196
CREDITORS
Amounts falling due aftei. more than
one year
22
519,677
34,215
3,030,351
558,284
34,215
3,002,697
PROVISION FOR LIABILITIES
24
NET ASSETS
FUNDS
Unrestricted funds
Restricted funds
25
2,986,512
43,839
2,956,052
46,645
TOTAL FUNDS
3,030,351
3,002,697
The notes form part of these financial statements
Page 12
continued.

NORTHERN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CEINTRE LIMITED
CONSOLIDATED BALANCE SHEET
AT 31 DECEMBER 2024
cont'd
The trustees acknowledge their responsibilities for:_
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386
and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a ti'ue and fair view of the state of affairs of the
charitable company as at the end of each financial yeai. and of its surylus or deficit for each
financial year in accordance with the requirements of Sections 394 and 395 and which othenvise
comply with the i'equÉrements of the Compaiiies Act 2006 relating to financial statements, so far
as applicable to the chai'itable company.
The financial statements have been prep￿ed in accordance with the provisions of Pait 15 of the
Companies Act 2006 regaiding small companies and s398 of the Companies Act 2006 regai'ding group
accounts.
These financial statements have been audited under the requirements of Section 65 of the Ch￿itIeS Act
(Northern Ireland) 2008.
The financial statements weie approved by the Board of Trustees on 26 September 2025 and wei'e
signed on its behalf by:
J BOWERS
Trustee
B MACKIN
Trustee
The notes form pait of these financial statements
Page 13
continued,..

NORTHERN IRELAISD TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
COMPANY BALANCE SHEET
AT 31 DECEMBER 2024
2024
Total
funds
2023
Total
funds
Notes
Investments
Investments
Investment pi'operty
17
18
250,002
603,948
250,002
603,948
853,950
853,950
CURRENT ASSETS
Debtors
Cash at bank and in hand
20
204,790
94,461
186,493
60,784
299,251
247,277
CREDITORS
Ainounts falling due within onc year
21
370,843
326,902
NET CURRENT LIABILITIES
71,592
79,625
NET ASSETS
782,358
774,325
FUNDS
25
Uni"esti'icted funds
Resti'icted funds
738,517
43,841
727,680
46,645
TOTAL FUNDS
782,358
774,325
The notes foi'm part of these financial statements
Page 14
continued...

NORTHERN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
COMPANY BALANCE SHEET
AT 31 DECEMBER 2024
cont'd
The financial statements have been prepared in accordance with Part 15 of the Companies Act 2006
regarding small companies.
The financial statements were approved and authorised by the Board of Trustees on 26 September 2025
and were slgned on its behalf by:
J BOWERS
Trustee
B MACKTN
Tiustee
The notes foi'm pait of these financial statem¢nts
Page 15

NORTHERN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Notes
Cash floivs from operating activities:
Cash used in operations
Intei'est paid
Fair value loss
100,821
(15,773)
3,955)
(101,583)
(15,919)
Net cash provided by (used in) operating
activities
81,093
117,502)
Cash flows from investing activlties:
Purchase of listed investments
Pi'oceeds fi'om sale of listed investments
Loans gianted in year
Purchase of tangible fixed assets
Pui'chase of investment property
Sale of investment property
Interest i'eceived
(58,250)
272,526
(391,109)
(1,628)
(39,384)
185,606
(52,512)
(292,626)
70,000
189
186
Net cash provided by (used in) investing
activities
108,272)
198,730)
Cash flows from financing activities:
Loan repayments in year
Capital grants received
(28,093)
(25,722)
228,858
Net cash provided by (used in) financing
activities
28,093)
203,136
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
(55,272)
(113,096)
248,200
361,296
Cash and cash equivalents at the end of
the reporting period
192,928
248,200
The notes form pait of these financial statements
Page 16

NORTHERN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DEI CEMBER 2024
RECONCILIATION OF NET INCOMEI(EXPENDITURE) TO NET CASH FLOW
FROM OPERATING ACTIVITIES
2024
2023
Net incomel(expenditure) for the reporting period (as per the
statement of financial activities)
31,609
(19,791)
Adjustments for:
Depi'eciation chai'ges
Finance costs
Interest received
Revaluation loss l (gain)
Tax charge
(Increase)/decrease in debtors
Inci'ease/(dccr¢ase) in ci-¢ditoi's
8,467
15,773
(189)
3,955
8,688
15,919
(186)
(14,434)
14,970
(146,676)
39,927
26,679
14,527
Net cash provided by (used in) operating activities
100,821
(101,583)
ANALYSIS OF CASH AND CASH EQUIVALENTS
2024
2023
Cash at bank and in hand
Oveidi'afts included in bank loans and overdiafts falling due
within one year
264,116
325,571
71,188)
77,371)
Total eash and cash equivalents
192,928
248,200
Page 17

NORTHERIN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
GENERAL INFORMATION
The charity is a private company limited by guarantee, registered in Northern Ireland and a
i'egistered charity in Northei'n Ireland. The address of the i'egistei'ed office is 45147 Donegall
Strect, Bclfast, Co Antrim, BTI 2FG.
STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of
Recommended Practice applicable to Charities pi'eparing theii accounts in accordance with the
Financial Repoiting Standard applicable in the UK and Republic of Iieland (FRS 102) (Charities
SORP (FRS 102)) and thc Charitics Act (Noithern Ii'eland) 2008.
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis, as modified by the
ievaluation of certain financial assets and liabilities and investment properties measured at fair
value through income oi. expenditure.
The flnancial statements al'e pi'epared in sterling, which is the functional cunency of the entity.
Critical accounting estimates and areas of judgement
Estimates and judgements al'e requii'ed when applying accounting policies. These are continually
evaluated and al'e based on historical expei'ience and othei. factors, including expectations of
futui'e events that are believed to be reasonable undei the circumstances.
The company makes estimates and assumptions concerning the future, which can involve a high
degree of jlidgement or complexity. The resulting accounting estimates will, by definition,
seldoin equal the i'elated actual results. The estimates and assuniptions that have a significant i'isk
of causing a material adjustment to tlie cariying amounts of assets and liabilities within the next
financial year are addi'essed below:
a) Marliet value of investment properties
Estimates are made in respect of the mal'ket value of investment piopcrties. When assessing the
market value of these assets, factors including cun'ent rent receivable and available data on
CUITent mai'ket yields and activity arc considered.
b) Useful economic lives of tangible assets
The annual depi'eciation charge foi. tangible assets is sensitive to changes in the estimated useful
economic lives and i'esidiial values of the assets. The useful economic lives and L'esidual value
are reassessed annually. They are amendcd when necessary to i'eflect cui'ient estimates, based on
future investments, economic utilisation and the physical condition of the assets.
Page 18

NORTHERN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
cont'd
ACCOUNTING POLICIES- continued
Going concern
The trustees have assessed, based on the anticipated activities of the charity and the group, that
thei'e ￿'e adequate resoui'ces in place to meet the on-going costs of the gi'oup foi. a minimum of
12 months from the date of signing of the financial statements. In coming to this conclusion,
the trustees have assessed the entity's current financial an'angements and i'esources of the group
as a whole and have obtained confirmation that financial support will be made available
between fellow group companies, if iequired. For this ieason the financial statements have been
prepai'ed on a going concei'n basis which piesumes the realisation of assets and liabilities in the
noi'mal course of business.
Company status
The company is a company limited by guarantee. The members of the company are the
Trustees named on page l. In the event of the company being wound up, the liability in respect
of the guaiantee is limited to £1 per member of thc company.
The registered office is 45-47 Donegall Street, Belfast, BTI 2FG. The pi'incipal activity of the
company is other social work activities without accommodation not elsewhere classified.
Basis of Consolidation
Northein Ireland Trade Union Educational and Social Centie Limited considers that where the
organisation is the sole member of a company limited by guarantee. these entities should be
'eated as wholly owned subsidiaries by viitue of common control.
The parent charity has applied the exemption contained in section 408 of the Companies Act
2006 and has not pi'csented its individual Statement of Financial Activity.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement
to the funds, it is pi'obable that the income will be received, and the amoiint can be measui'ed
reliably.
Expenditure
Liabilities ale recognised as expenditure as soon as thei'e is a legal oi. constLllCtive obligation
committing the charity to that expenditure, it is probable that a tiansfei. of economic benefits will
be required in settlement and thc amount of the obligation can be measuied i'eliably. Expendituie
is accounted for on an acciuals basis and has been classified linder headings that aggregate all
cost i'elated to the catcgoiy. Whei'e costs cannot be dii'ectly atti'ibuted to pai'ticulai headings, they
have been allocated to activities on a basis consistent with th¢ use of i'esourccs.
Page 19

NORTHERN IRti LAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
cont'd
ACCOUNTING POLICIES- continued
Investments
Fixed asset investments are a fom] of fEnancial insti'ument and are initially i'ecognised at their
tl'ansaction cost and subsequently measured at fail value at the Balance Sheet date, unless fail.
value cannot be mcasured reliably in which case it is measui'ed at cost less impairment.
Investment gains and losscs, whether realised or unrealised, are combined and shown in the
heading 'Gains/(losses) on investments, in the Statcmcnt of Financial Activities incoryorating
Income and Expenditure Account.
Tangible fixed assets
Depreciation is provided at the following annual rates in older to write off each asset over its
estimated useful life.
Freehold property
Plant & machinery
Fixtures, fittings & equipment
2 % straight line
20 % sti'aight line
20 % sti'aight line
Tangible fixed assets are stated at cost or valuation, net of depreciation and any pi'ovisions for
impaii'ment.
Investment property
Investment pi'opei'ty is shown at most recent valuation. Any aggregate surplus or deficit arising
from changes in market value is transfe￿ed to a i'evaluation i'eserve.
It has not been depreciated.
Impairment
Assets not measured at fail. value are reviewed for any indication that the asset may be impaired
at each balance sheet date. If such indication exists, the recovei'able amount of the asset, oi. the
asset's cash genei'ating unit, is estimated and compai'ed to the cai'rying amount. Where the
cariying ainount exceeds its i'ecoveiable amount, an impairment loss is r¢cognised in profit and
loss iinless the asset is can'ied at a revalued ￿lloUnt whei'e the impaii'ment loss is a revaluation
d¢ci'casc.
Taxation
The charity is exempt fi'om tax on income and gains falling within S505 of the Taxes Act 1988
or S252 of TCGA 1992 to the extent that these al'e applied to its charitable activities.
The taxation expense repiesents tlie aggregate amount of current and deferi'ed tax recognised in
the i'eporting period, as arising on its ti'ading subsidiaries.
Page 20

NORTHERN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
cont'd
ACCOUNTING POLICIES- continued
Taxation (continued..)
Current tax is recognised on taxable income oi expenditure for the current and past periods.
Cu￿ent tax is measurcd at the amounts of tax expected to pay or i'ecover using the tax rates and
laws that have been enacted oi. substantively enacted at the repoiting date.
Defe￿ed tax recognised in respect of all timing differences at the reporting date. Unrelieved tax
losses and other defei'red tax assets are recognised to the extent that it is probable that they will
be recovered against the reversal of deferred tax liabilities or othei. futuie taxable profits.
Defei'i'ed tax is measured using the tax l'ates and laws that have been enacted or substantively
cnacted by the reporting dat¢ that al'e expected to apply to the reversal of the timing differences.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of
the trustees.
Restricted funds can only be used for particular restricted puiyoses within the objects of the
charity. Restrictions arise when specified by the donor or when funds are raised for particular
restricted purposes,
Designated funds comprise unrestricted funds that have been set aside by the Trustees for
particulai. purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the
financial statements.
Provisions
Provisions ale recognised when the entity has an obligation at the i'epoiting date as a iesult of a
past event, it is probable that the entity will be i'equiied to transfer economic benefkts in
settlement and the amount of the obligation can be estimated reliably. Piovisions are recognised
as a liability in the statement of financial position and the amount of the provision as an expcnse.
Piovisions are initially measuied at the best estimate of the amount requiied to settle the
obligation at the i'epoi'tiiig date and subsequently i'eviewed at.
Debtors and creditors receivablelpayable within one year
Debtoi's and ci'editors with no stated interest rate and receivable or payable within one yeai al'e
recorded at ti'ansactional pi'ice. Any losses arising from impaiiment are recognised in the
Consolidated Statement of Financial activities in other ts'ading activities.
Other income
Other income is accounted foi. as it is received and credited to the piofit and loss account.
Page 21

NORTHERN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
cont'd
DONATIONS AND LEGACIES
2024
2023
Other income
126,010
71,681
INCOME FROM CHARITABLE ACTIVITIES
2024
2023
Activity
Ch￿'[table activities
Chai'itable activities
Charitable activities
Charitable activities
Charitable activities
Big Lottery Fund
Belfast City Council
CBPES
Belfast Met
Antrim & Newtownabbey
Council
The Doi'mant Accounts Fund
IFI Funding
ESOL
IFI- PYDP
49,163
70,889
25,510
5,824
3,930
83,581
26,024
3,930
Charitable activities
Charitable activities
Chai'itable activities
Chai'itable activitkes
12,938
102,936
1,800
5,204
17,167
236,413
172,483
INCOME FROM OTHER TRADING ACTIVITIES
2024
2023
Subsid[￿Y tiading activities
34,825
44,439
INVESTMENT INCOME
2024
2023
Rents and service charges received
Income fi'om fixcd assets investments
508,632
578,598
519,997
593,953
Page 22

NORTHERN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMEINTS
FOR THE YEAR ENDED 31 DECEMBER 2024
cont'd
OTHER GRANT INCOME
2024
2023
Grant income
7,896
7,896
7,896
7,896
COSTS OF OTHER TRADING ACTIVITIES
2024
2023
Trading costs
Finance costs
49,342
13,960
105,900
15,919
63,302
121,819
10. CHARITABLE ACTIVITIES COSTS
2024
2023
Chai'itable activities
Govei'nance
389,885
12,539
306,992
27,372
402,424
334,364
GOVERNANCE COSTS
Unrestricted Restricted
funds
funds
Total
funds
Total
funds
2024
2024
2024
2023
Dii'ect costs - Governance
12,539
12,539
27,372
Page 23

NORTHERN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
cont'd
11. COSTS OF INVESTMENT ACTIVITIEI S
2024
2023
Pi'operty management costs
427,941
453,541
12. NET INCOMEI(EXPENDITURE)
Net income/(expenditure) is stated after chargingl(crediting):
2024
2023
Depreciation - owned assets
Audit fee
8,467
9,610
8,688
8,900
18,077
17,588
13. TRUSTEES, REMUNERATION AND BENEFITS
Theie wei'e no trustees, remuneration or othei. benefits foi. tlie year ended 31 Deccmb¢r 2024 nor
foi. the year ended 31 Decembei 2023.
Trustees, expenses
Trustees, expenses for the Ye￿ amounted to £8,000 (2023.. £9,600).
Page 24

NORTHERN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
cont'd
14. STAFF COSTS
2024
2023
Wages and salaries
234,597
243,108
The average monthly number of employees during the year was as follows:
2024
2023
Support staff
13
13
No employees received emoluments in excess of £60,000.
15. INTANGIBLEI FIXED ASSETS
Group
Lieence
COST
At l Januaiy 2024
and 31 December 2024
58,195
AMORTISATION
At l January 2024
At 31 Decembei. 2024
58,195
58,195
NET BOOK VALUE
At 31 December 2024
At 31 December 2023
Page 25

NORTHERN IREI LAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
cont'd
16. TANGIBLE FIXED ASSETS
Group
Fixtures,
Freehold Plant &
fittings &
property machinery equipment
Totals
COST
At l January 2024
Additions
Reclassificationlti'ansfer
270,000
89,569
119,265
1,628
478,834
1,628
At 31 December 2024
270,000
89,569
120,893
480,462
DEPRECIATION
At l January 2024
Chai'ge foi year
Reclassificatior)/ti'ansfer
87,368
2,201
100,801
6,266
188,169
8,467
At 31 December 2024
89,569
107,067
196,636
NET BOOK VALUE
At 31 December 2024
270,000
13,826
283,826
At 31 December 2023
270,000
2,201
18,464
290,665
Fixtures,
fittings &
equipment
Company
COST
At l January 2024 and 31 December 2024
61,213
DEPRECIATION
At l January 2024 and 31 Decembei. 2024
61,213
NET BOOK VALU
At 31 December 2024
At 31 December 2023
Page 26

NORTHERN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
cont'd
17. FIXED ASSET INVESTMENTS
Group
2024
2023
Other investments
Other loans
174,274
443,621
392,505
52,512
617,895
445,017
Additional inforn]ation is as follows:
Listed
investments
COST OR VALUATION
At l JanU￿Y 2024
Additions
Valuation changes
Disposals
392,505
58,250
(3,955)
272 526
NET BOOK VALUE
At 31 Deccmber 2024
174,274
At 31 December 2023
392,505
Other
Loans
At l January 2024
New in yeai.
52,512
391,109
At 31 December 2024
443,621
Company
2024
2023
Sh￿'es
Capital contribution
250,000
250,000
250,002
250,002
Page 27

NORTHERN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMEI NTS
FOR THE YEAR ENDED 31 DECEMBER 2024
cont'd
17. FIXED ASSET INVESTMENTS- continued
There were no investment assets outside the UK.
The company's investments at the balance sheet date in the shal'e capital of companies include
the following..
B.D.A. (Property Projects) Limited
Registered office: Portview Ti'ade Centre, 31 O Newtownards Road, Belfast, B Tl I HE
Nature of business: Business support service activities
Class of share:
Oidinary shares
holding
100
The following companies al'e limited by guai'antee. Noithern Ii'eland Trade Union Educational &
Social Centre Limited is the sole member of each of the companies, and therefore exercises
conti'ol.
Company name
Commuiiity Training & Reseai'ch Sci'vices Limited
Access Skills Ireland Limited
Access Skills Ireland CLG
Radius (N.I.) Limited
Radius Training Limited
Registered
Northei'ii Ireland
Northern lieland
Republic of Ii'eland
Noi'thern Ii'eland
Republic of Ireland
18. INVESTMENT PROPERTY
Group
MARKET VALUE
At l January 2024
Additions
Disposals
At 31 December 2024
2,534,830
70,000
2,464,830
NET BOOK VALUE
At 31 December 2024
2,464,830
At 31 Decembei. 2023
2,534,830
Page 28

NORTHERN IRELAND TRADE UINION EDUCATIONAL
& SOCIAL CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
cont'd
18. INVESTMENT PROPERTY- continued
Company
MARKET VALUE
At l January 2024 and 31 December 2024
603,948
NET BOOK VALUE
At 31 December 2024
603,948
At 31 December 2023
603,948
2024 valuations were made by the directors of B.D.A. (Propeity Projects) Limited on an open market
valuation for existing use basis.
19. STOCKS
Group
2024
2023
Stock
20. DEBTORS
Group
2024
2023
Trade debtors
Othei. debtors
Prepayments
82,509
186,375
8,786
114,100
181,744
8,505
277,670
304,349
Company
2024
2023
Other debtoi's
Intercompany debtors
Prepayments
95,888
100,116
8,786
61,703
116,285
8,505
204,790
186,493
Page 29

NORTHERN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
cont'd
21. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group
2024
2023
Bank loans and ovei'drafts (see note 23)
Trade creditors
Taxation and social security
Other creditors
Accruals and deferred Éncome
97,656
70,094
4,555
51,835
99,954
105,021
53,978
3,476
73,801
68,960
324,094
305,236
Company
2024
2023
Bank loans and overdrafts (see note 23)
Othei. creditors
Intercompany creditors
Accruals and deferred income
71,188
2,421
207,591
89,643
77,371
230
183,600
65,701
370,843
326,902
22. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN OINE YEAR
Group
2024
2023
Bank loans (see note 23)
Other ci'editors
139,006 165,917
380,671 392,367
519,677 558,284
23. SECURED DEBTS
The following secured debts al'e included within creditors:
2024
2023
Batd( overdi'afts
Bank loans
71,188
165,474
77,371
193,567
236,662
270,938
The bank ovei'drafts are secui'ed by an all monies dcbentuie held giving a fixed and floating
charge over the company assets. The bank loans al'e secuied against assets of a subsidiaiy
company.
Page 30

NORTHERN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
cont'd
24. PROVISIONS
Group
Deferred
tax
Balance at l January 2024
Movement during year
34,215
Balance at 31 December 2024
34,215
25. MOVEMENT IN FUNDS
Group
Loss on
invest-
ments
At
Net
1.1.2024 Movement Transfers
At
31.12.2024
Unrestrieted funds
Unrestricted fLmds
Designated Social Enterprise
funds
Other Designated funds
227,681
(28,383)
39,220
238,518
2,228,371
500,000
2,956,052
23,578
(3,955)
2,247,994
500,000
2,986,512
(4,805)
39,220
(3,995)
Restricted funds
Belfast City
Council
CBPES
IFI
Antrim & Newtownabbey
Council
IFI Pei'sonal Youth
Development Pi'ogramme
46,645
23,960
(41,472)
29,133
16,552
(5,442)
3,272
16,552
5,442
(3,272)
(82)
82
ESOL
1,846
1,846
46,645
36,414
39,220
43,839
TOTAL FUNDS
3,002,697
31,609
3,955
3,030,351
Page31

NORTHERN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
cont'd
25. MOVEMENT IN FUNDS- continued
Net movement in funds, included in the above ale as follows:
Group
Incoming Resources
resources
expended
Movement
in funds
Unrestricted funds
Urn'estricted fund
688,728
(693,533)
(4,805)
Restricted funds
Belfast City Council
CBPES
IFI
Antrim & Newtownabbey Council
IFI - Personal Youth Development Progi'amme
The Dom]ant Accounts Fund
83,581
26,025
102,935
3,930
5,204
12,938
1,800
(59,621)
(9,473)
(108,377)
(658)
(5,286)
(12,938)
3,646)
23,960
16,552
5,442
3,272
(82)
ESOL
1,846)
236,413
(199,999)
(36,414)
TOTAL FUNDS
925,141
893,532)
31,609
26. LEGAL STATUS
The Charity is a company limited by guarantee and has no share capital. The liability of each
membei. in the event of winding up is limited to £1.
27. FRC ETHICAL STANDARD- PROVISIONS AVAILABLE FOR SMALLER ENTITIES
In common with many other oi'ganisations of our size and nature we use our auditors to pi'cpai'c
and submit i'cturns to the tax authorities and assist with the pi'eparation of the financial
statements.
Page 32

NORTHIRN IRELAND TRADE UNION EDUCATIONAL
& SOCIAL CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
cont'd
28. RELATED PARTY DISCLOSURES
The company has taken advantage of the exemption under FRS102 Section 33 'Related Party
Disclosures, not to disclose transactions with its group undertakings.
29. CONTINGENT LIABILITIES
The group has received government grants relating to fixed assets which are being defe￿ed over
the life of the assets. Thc receipt of these monies is subject to conditions which if al'e not met
may result in the grants being repayable by thc gioup. The group expects to meet the conditions
of the gi'ants.
Page 33