COMPANY REGISTRATION NUMBER: N1026146
CHARITh REGISTRATION NUMBER: NIC103436
Colin Glen Trust
Company Limited by Guarantee
Financial Statements
31 March 2024
Finegan Gibson Ltd
Chartered accountants & statutory auditor
Causeway Tower
9 James Street South
Belfast
BT2 8DN

Colin Glen Trust
Company Limited by Guarantee
Flnancial Statements
Year ended 31 March 2024
Page
Trustees, annual report (incorporating the directorfs report)
Independent auditorfs report to the members
Statement of financial activities (including income and
expenditure account)
12
Statement of financial position
13
Statement of cash flows
14
Notes to the financial statements
15

Colin Glen Trust
Company Limited by Guarantee
Tru5tees' Annual Report (Incorporatlng the Directorfs Report)
Year ended 31 March 2024
The trustees, who are also the directors for the purposes of company law, present their report and the
financial statements of the charity for the year ended 31 March 2024.
Reference and administrative detalls
Registered charty name
CcAin Glen Trust
Charlty registralion number
NIC103436
Company registration number N1026146
Prlnclpal office and registered 163 Stewartstown Road
office
Belfast
Co. Antrim
BT17 OHW
The trustees
Ms S Cavanagh
Dr J Bradley
Mr P Cunningham
Mr M McDemiott
Mr P Raymond
Mr P Walls
Mr M Magil
Mr T O'Hara
Mr K Swall
(Appointed 27 April 2023)
(Appointed 27 April 2023)
(Appointed 4 June 2024)
Audltor
Finegan Gibson Ltd
Chartered a¢c¢)untsnts & statutory auditr
Causeway Tower
9 James Street South
Belfast
BT2 8DN
Structure. govemance and management
Governing document
Colin Glen Trust is a company limited by Guarantee aThY not hawng share capital, governed by tts
Memorandum and Articles of Association dated October 1989. It is a registered Charty with the Charity
Cornmission. Colin Glen have committed to reviewing their corporate govemance. Having recently
engaged Carson McDowell as the Trusvs solicitors. one of the priortty tasks will be for their team of
experienced charity lawyers to review the governan￿ structures for the Trust, providing advice and
assistance to the Trust in its aim of improving the Charity's g0veman￿.

Colin Glen Trust
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (wn￿n￿l
Year ended 31 March 2024
Structure, governance and management {rnnlinu•d)
Appointment of tmstees
Colin Glen cornpleted a skills analysis for tha board of Colin Glen Trust and Colin Glen Lersure and
following a recruitment campaign we appointed an additional seven Directors.
This recruitment drive followed a review of the Memorandum and Articles of Association which were
presenled at the 33rd AGM. Carson McDowell. who undertook this work have now begun a review of
the trading subsidiary. Colin Glen Leisure, focussing on tts constitution and in particular its relationship
with the charity.
Trustee inducuon and training
Having now strengthened the board and with the assistance of Carson McDowell. we will be
implementing a programme of induction and trairung for the board members.
Organisation
The Board of Trustees administers the charty and aim to meet quarterly. A Chief Executive is apwinted
by the trustees to rnanage the day-tothday operation of the charity.
Colin Glen Trust operates two subsidiary companies. namely Colin Glen Landscapes and Colin Glen
Leisure Ltd. It is a rec¢)Jnised, award winning social enterprise and is dedicated to improving the local
area by improving the social capital. Cdin Glen Trust works dosely with neighbouring community &
statutory organisations such as Belfast City cou￿11. Colin Neighbouthood Partnership, Lenadoon
Neighbourhood Partnership as well as govemment departments such as DAERA and Dept of
Comrnunities and their arms-length agencies such as Sport Nl and NIEA Trustees for the charity also
operate as directors for the subsidiary companies.
Related parties and co-operation with ofher organisations
Trustees do nol receive remuneration or other benefit from their work with Ihe Gharity. connedion
between trustees of the charity With a supplier must be disclosed. In the current year no such related
party transaclions were reported.
Pay pollcy for senior staff
I directors give of Iheir time freety and no directcw received remuneration in the year. Details of
directors, expenses and related party transactions are disdosed as a note to the accounls.

Colin Glen Trust
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) {GontinuedJ
Year ended 31 March 2024
Objectives and activities
To prornote the Conse￿ation. protection and improvement of the natural environment and to develop
and provide practical projects, facilitiès and amenities for recreation and leisure pursuits and to develop
environmental educati¢￿.
We aim to improve the use of the forest park by people of all ages and abilities. We utilise volunteers
to assist with the maintenance of the park and Ihe delivery of the leisure and educational activities. We
work with the local comrnunty, Folice and statutory bodies to ensure the safety of the park.
Provision of recreational activities usirrfJ natural and buin resources. Provision of educational courses
covering nature,. envsronment- flora & fauna-. local history: culture & folklore.
Achievements and perforniance
Trust
We had previously talked about a more level market followin9 the post lockdown boom. Unfortunately
we failed signif￿antlY to sustsin our 2022-23 income levels and in¢ome dropped from £532k to £420K
in Trust.
Black Bull Run- reduced £5.OCKI
Total zipline income - reduced £33,000
Mounlain Adventure Package - reduced £13.000
SK￿rek- reduced by £15,0
Events - reduced £23.OChJ
With no revenue grant available this was a significant htt which in tum lead an expenditure cutting
exercise. We managed to reduce the overall expenditure by £180.000. A significant part of this was
the reduction of wages and salaries by £50K. Despite the significant drop in income. the savings which
we made meant an overall improvement on the 2022-23 Ioss.
Leisure
Sales for Leisure increased by £120.000 on the previous year and a￿hoUgh cost of sales increased, the
overall expenditure compared to the previous year was down by £50K. In 2022-23 Leisure finished
with a Ioss of £19K but this was transformed into a surplus of £119.673. It would be our intention to gift
this amount from Leisure to the Trust.
Publi¢ Benefit
We have referred to the guidan￿ contained in the Charty Commission's general guidance on public
benefft when reviewing our aim and objectives and in planning our future activities. In particular. the
trustees consider how planned aGtivities will contribute to the aims and objectives they have set.
Financial review
The net fund balances at the year ended 31st March 2024 totslled £1,130,395 which cornprised
Restricted funds of £995.817 and unrestricled funds of £134,578. Incoming resources for the period of
£572,972 were less, than the outgoing resources of £793.164 leaving a deficit of £220.192.

Colin Glen Trust
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (¢ontffnu
Year ended 31 March 2024
Financial review (conrfnvod)
Reseryes policy and going concem
Due to decreasing sales and rising costs we do not have any cash reserves. We will implernent a new
strategy to ensure that by March 2025, we are in a better Frf)Sition. We wll also require a larger overdraft
facility to make larger payments such as insurance
Plans for future periods
During the year we developed a very strong relationship with a resort building organisalion called
Greenspan. It would be our intention to build an Adventure Golf facility at the golf course by Summer
2025 and also to develop a master plan for the forest park. including looking at a number of attractions
which could be phased in over a 5-10 year peric*J.
Trustees. responsibilities statement
The trustees. who are also directors for the wrposes of company law. are responsible for preparing the
Iruslees, report and the financial statements in accordance with applicable law and United Kingdom
Accounting Standards (United Kingd¢yn Generally Accepted Accounting Practice).
Company law requires the charity trustees to prepare finar￿la1 statements for each year which give a
true and fair view of the state of affairs of the charilable company and the incoming resources and
application of resour￿$, including the income and expenditure. for that period.
In preparing thes8 financial statements. the trustees ar8 required to:
select suitsble aCC￿nting pM)liues a￿j then apply them (x)nsistenly.
observe the methods and principles in the applicable Chartties SORP:
make judgments arbj accounting estimates that are reasonable and prudent:
prepare the financial statements on the going concem basis unless it is inappropriate to wesume
that the charity will continue in business.
The trustees are responsible for keeping adequate accour)ting records Ihat are sufficient to show and
explain the charty's transactions and disclose with reasonable accuracy at any time the financ#al
position of the charity and enabte them to ensure that the financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence
for taking reasonable steps for the prevention and deteclion of fraud and other irregularities.
Auditor
Each of the persons who Is a trustee at the date of approval of this repcrt confimis that:
so far as they are aware, there is no relevant audit infomiation of which the charity's auditor is
unaware. and
Ihey have taken all Steps that they ought to have taken as a trustee to make themselves aware of
any relevant audit informatim and to establish that the charitys auditor is aware of that infomiation.

Colin Glen Trust
Company Limited by Guarantee
Trustees. Annual Report {Incorporating the Dlrectorfs Report) (conlinu8dJ
Year ended 31 March 2024
Small company provisions
This reFQrt has been prepar&J in accordanGe wilh the prowsions applicable to companies entitled to the
small companies exemption.
The trustees, annual report was approved on 3 December 2024 and signed on behalf of the board of
trustees by=
Ms S Cavanagh
Trustee