Local Economic Development Company (LEDCOM) Limited
Company Limited By Guarantee
Consolidated Statement of Financial Actlvitie5
For the year ended 30th September 2022
Unrestrlcted Restricted
Funds
Funds
Total
2022
Total
2021
Notes
Income from:
Donations and legacies
Charitable Activities
Other Trading Activities - rental income
Investment Income
30,000
31,892
557,997
178
30,000
170,690
557,997
178
138,798
245,847
474,684
255
Total Income
620,067
138,798
758,865
720,786
Expenditure on.,
Charitable Activities
Total Expendlture
819
499,796
499,796
138,798
138.798
638,594
638,594
577,598
577,598
Net Income/{Expendlture)
120,271
120,271
143,188
Transfers Between Funds
Unrealised galn on revaluation
of fixed assets
11
263,000
263,000
795,896
Net Movement In Funds
383,271
383,271
939,084
Reconclllatlon of Funds
Total Funds
Brought Forward
16117
4,249,313
4,249,313 3,310,229
Total Funds Carried Forward
4,632,584
4,632,584 4.249.313
The notes on pages 27- 44 form part of these financial statements. The result5 relates to continuing
activities.
The company has no recognised gains and losses other than those included above and therefore no
separate statement of total recognised gains and losses has been presented.
22

Local Economlc Development Company (LEDCOM) Limited
Company Llmlted By Guarantee
Statement of Flnanclal Activities
For the year ended 30th September 2022
Unrestricted
Funds
Restricted
Funds
Total
2022
Total
2021
Notes
Income from:
Donations and Le8acie5
Charitable Activitie5
Other Trading Activities - rental income
Investment income
30,000
31,892
557,997
178
30,000
170,690
557,997
178
138,798
245,847
472,184
255
Total Income
620,067
138,798
758,865
718.Z86
Expenditure on:
Charitable Activities
Total Expenditure
819
499,228
499,228
138,798
138,798
638,026
638,026
573,612
573,612
Net In¢ome/{expendlturel
120,839
120,839
144,674
Transfers 8etween Funds
Unrealised gain on revaluatlon
of fixed assets
li
263,000
263,000
795,896
Net Movement in Funds
383,839
383,839
940,570
Reconciliation of Funds
Total Funds Brought Forward
4,286,094
4,286,094 3.345,524
16117
Total Funds Carried Forward
4,669,933
4,669,933 4,286,094
The notes on pages 27 - 44 form part of these financial statements. The results relates to continuing
activities.
The company has no recogni5ed gains and losses other than those included above and therefore no
separate statement of total recognised gains and losses has been presented.
23

Local Economic Development Company (LEDCOM) Limited
Company Limited By Guarantee
Consolidated Statement of Financial Position
For the year ended 30th September 2022
2022
2021
Notes
Fixed assets
Tangible Assets
li
4,132,378 3,845,982
Current assets
Debtors
Cash at Bank and in Hand
Total Current Assets
13
110,106
96,311
1,082,674 1,045,336
1,192,780 1.141,647
Liabilltles
Creditors: Falling due within one year
14
1233,954) (157,547)
Total Assets less Current Llabilities
5,091,204 4,830,082
Creditors.. Falling due more than one year
14
1458,620) (580,7691
Net assets
4,632,584 4.249,313
Funds employed
Restricted Funds
Unrestricted Funds- General
Unrestricted Designated Funds- Economic Assets
17
16
16
589,012
500,813
4,043,572 3,748,500
4,632,584 4,249,313
The financial statements were appro
behalf by:
and authorised for issue by the Board and were signed on its
Director
Date:
qli?IIL
J E Somerville
Director
Date:
qlITII
Company Registration.. N1018438
The notes on pages 27 - 44 form part of these financial statements. The results relate5 to continuing
activities.
24

Local Economic Development Company {LEDCOM) Limited
Company Limited By Guarantee
Statement of Financial Position
For the year ended 30th September 2022
2022
2021
Fixed assets
Tangible Assets
li
4,132,378 3,845,982
Current assets
Debtors
Cash at Bank and in Hand
Total Current Assets
13
143,561
129,666
1,082,177 1.044,371
1,225,738 1,174,037
Llabllltles
Creditors: Falling due within one year
14
1229,563) (153,156)
Total Assets less Current Liabilitles
5,128,553 4,866,863
Creditors: Falling due more than one year
14
1458,620) (580,7691
Net assets
4.669,933 4,286,094
Funds employed
Restricted funds
Unrestricted Funds- General
Unrestricted Designated Funds - Economic Assets
17
16
16
626,361
537,594
4,043,572 3,748,500
4.669,933 4,286,094
25

Local Economic Development Company (LEDCOM) Limlted
Limited By Guarantee
Consolidated statement of cash flows
For the year ended 30th September 2022
2022
2021
Notes
Cash used in Operating Artivities
22
156,089 161,027
Cash flows from Investln8 Artivities
Interest Income
Interest Paid
Purchase of Tangible Fixed Assets
Cash provlded by {used inl Investing Activities
178
255
16,875) {1,0731
146,9221 166,5771
{53,619) (67,395)
Cash flow5 from Flnanclng Activities:
Cash used In Financing Activities
Increase/(decrease) In Cash and Cash Equivalents in the year
102,470
93.632
Cash and Cash Equivalents at the beginning of the year
395,336 301,704
Cash and Cash Equivalents
at the end of the reporting perlod
23
497.806 395.336
26

Local Economic Development Company ILEDCOM) Limited
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2022
l) Accounting Pollcies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in
the preparation of the financial statements are as follows:
a) Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by
Charities: Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS
102) (effective l January 20191- Icharities SORP (FRS 1021, the Financial Reporting Standard applicable
in the UK and Republic of Ireland IFRS 102) and the Companles Act 2006.
Local Economic Development Company {LEDCOM) Limited meets the definition of a public benefit
entity under FRS 102.
bl Preparation of the accounts on a going concern basis
The trustees are of the opinion that the charity is a going concern due to the level of free reserves
in the consolidated group in place and the funding secured moving forward.
cl Income
Activitiesfor generating funds - rental and sundry income
Rental income is received from tenants of the enterprise park. This is included in the Statement of
Financial Activities when receivable.
rraining, service level agreements & community support programmes income
Income is received from various bodies in relation to furtherance of their objectives on an accruals
basis.
Grants
Revenue grants are credited to incoming resources on the earlier date of when they are recelved or
when they are receivable, unless they relate to a speclfied future period, in which case they are
deferred.
Investment income
Income from investments is included, together with the related tax credits, In the Statement of
Financial Activities on an accruals basis.
d) Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the charity; this 15 normally upon notification of the interest paid or payable by the Bank.
27

Local Economic Development Company (LEDCOM) Limited
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2022
l) Accounting Pollcies- (continued)
e) Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third
party, it is probable that settlement will be required and the amount of the obligation can be measured
reliably. All expenditure is accounted for on an accruals basis and has been classified under headings
that aggregate all costs related to the category. Where costs cannot be directly attributed to particular
headings they have been allocated to activities on a ba515 con51stent with use of the resources.
Charitable activities
These costs include dlrect expenditure relatin8 to economic development and expenditure in
admlnlstratlon of the group.
Irrecoverable VA T
Any irrecoverable VAT is charged to the Statement of Financial Activities, or capitali5ed a5 part of the
cost of the related asset, where appropriate.
Pension costs
The group contributes to a defined contribution scheme on behalf of certain employees. The assets of
the scheme are held separately from those of the group in an independently administered fund and
contributions are charged to the Statement of Financial Activities in the period to which they relate to.
Governance costs
Governance costs include those incurred in the governance of its assets and are associated with
constitutional statutory and strategic requirements.
fl Fund accounting
The group has various types of funds for which it is responsible and which require separate disclosure.
Definitions of the various types of funds are as follows:
Restrictedfunds
Restricted fund5 are to be used for specified purposes as laid down by the donor. Expenditure which
meets these criteria is identified to the fund, together with a fair allocation of overhead and support
costs.
Generalfund5
General funds are donations and other incoming resources received or generated which are expendable
at the discretion of the cha rity i n the furtherance of its objectives.
Designatedfunds
Designated funds comprise capital grants that have been expended for their restricted purpose.
28

Local Economic Development Company ILEDCOM) Limited
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2022
l) Accounting Policies- (continued)
g} Operating leases
Where assets are acquired under finance leases, the capital element of the asset is included in fixed
assets and amortised over the life of the asset. The outstanding capital element of the leasing obligation
is included in cred itors falling due. The interest element is written of over the prima ry period.
All other leases are accounted for a5 operating leases and the rental charges are charged to the
statement of financlal activities on a straight line basis over the life of the lease.
h) Investments
Investments in subsidiary undertakings are stated at cost, but are written down to their realisable
value if it is considered that there has been an impairment.
il Tangible fixed assets
Depreciation is calculated to write off the original c05t less the expected residual va lue of the assets
over their estimated useful lives at the following annual rates:_
Plant and equipment
Office equipment
Motor Vehicles
10 - 20% straight line
15% straight line
25% straight line
Revalued investment propertles are not depreciated.
The carrying values of tangible fixed assets are reviewed for impairment when events or changes in
circumstances indlcate the carrying value may not be recoverable.
j) Debtors
Trade and other debtor5 are recognised at the settlement amount due after any trade dlscount offered.
Prepayments are valued at the amount prepaid net of any trade discount5 due.
kl Cash at bank and In hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short
maturity of three month5 or less from the date of acquisition or opening of the deposit or similar
account.
11 Creditors and provi5ion5
Creditor5 and provisions are recognised where the charity has a present obligation resulting from
past event that will probably result in the transfer of funds to a third party and the amount due to
settle the obligation can be measured or estimated reliably. Creditors and provisions are normally
recognised at their settlement amount after allowing for any trade discounts due.
29

Local Economic Development Company ILEDCOM) Limited
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2022
l) Accounting Pollcies- (continued)
ml Financial instruments
The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section
12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial
instruments are recognised in the Charity's balance sheet when the Charity becomes party to the
contractual provisions of the instrument,
Financial assets and liabilities are offset, the net amounts are presented in the financial statements,
when there is a legally enforceable right to set off the recognised amounts and there is an intention
to settle on a net basis of to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financlal assets, which include debtors, cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amort15ed cost using the
effective interest method unless the arrangement constitutes a financing transaction, where the
transaction is measured at the present value of the future receipts discounted at a market rate of
interest. Financlal assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction
price unless the arrangement constitutes a financing transaction, where the debt instruments is
measured at the present value of the future payments discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate
method. Trade creditors are obligations to pay for goods or services that have been acquired in the
ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if
payment is due within one year or less. If not, they are presented a5 non current liabillties. Trade
creditors are recognised Inltlally at transaction price and subsequently measured at amortised cost
using the effective Interestmethod.
Derecognition of financlal liabilities
Flnancial liabilities are derecognised when the Charity's contractual obligations expire or are
discharged or cancelled.
o) Critical accounting estimates and judgements
In the application of the Charity'5 accounting policie5, the Trustees are required to make judgements,
estimates and a55umptions about the carrying amount of assets and liabilities that are not readily
apparent from other sources. The estimates and associated assumption5 are based on historical
experience and other factors that are considered to be relevant. Actual results may differ from these
estimates.
30

Local Economic Development Company {LEDCOM} Limlted
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2022
l) Accountlng Policies- (continued}
o) Critical accounting estimates and judgements ctd...
The estimates and underlying 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.
p} Basis of consolidation
In the parent company financial statements, the cost of a business combination is the fair value at
the acquisition date of the assets glven, equity instruments issued and liabilities incurred or
assumed, plus costs directly attributable to the business combination. The excess of the cost of
business combination over the fair value of the identifiable assets, liabil ities a nd contingent
liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated
amount of contingent conslderation that is probable and can be measured reliably, and is adjusted
for changes in conti ngent consideration after the acquisition date. Provisional fa ir va lues recognised
for business com binations in previous periods are adjusted retrospectively for final fair values
determined in the 12 months following the acquisition date. I nvestments in subsidiaries, joint
ventures and associates are accounted for at cost less impairment.
The consolidated financial statements incorporate the financial statements of the subsidiary
companies listed in note 11 as at 30 September 2022.li.e. entities that the group controls through its
power to govern the financial and operating policies so as to obtain economic benefits).
Subsidiaries acquired during the year are consolidated using the purchase method. Their results are
incorporated from the date that control passes.
Where necessary, adjustments are made to the financial statements of subsldlarles to bring their
accounting pollcles In line with the group's accounting pollcles.
All intra-group transactions, balances and unrealised gains on transactlons between group companles
are eliminated on con501idation, Unrealised losses are also eliminated unless the transactions unless
the transaction provides evidence of an impairment of the asset transferred.
31

Local Economic Development Company (LEDCOM) Limited
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2022
2. Results for the year
Group
2022
Company
2022
2021
2021
This is stated after charging:
Staff costs (note 31
Audit fees
Depreciation
322,527 308,837 322,527 308,837
7,540
7,250
7,540
7,250
23,526
27,011
23,526
27,011
Indemnity insurance for the Trustees was purchased by the charity during the year amounting
to £917 (2020: £675)
3. Employee Information
Group
2022
Company
2022
2021
2021
Wages and salaries
Social security costs
Other pension costs
247,899 241,460 247,899 241,460
21,242
20,439
21,242
20,439
53,386
46,938
53,386
46,938
322,527 308,837 322,527 308,837
The average number of persons employed by the company (excluding Directors) during the
year was as follows:
Group
2022
Company
2022
2021
2021
Charitable 3Ctivltles
10
io
No employee falls in emoluments in the band £60,000-£69,999 excludlng employer pension
contributions {2021.. 0).
One employee falls In emolument5 in the band £70,000-£79,999 excluding employer pension
contributions (2021,, 11.
The total employee benefits of the key management personnel of the Group was £191,047
(2021: £183,968}.
Three charity trustees received payment for professional or other Services supplied to the
charity totalling £704.2212021'. two totalling £498.59).
32

Local Economic Development Company (LEDCOM) Limited
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2022
4. Donatlons and Legacies
Group
Company
2022
2021
2022
2021
Unrestritted
Donations
30,000
30.000
30,000
30.000
5. Income from other tradln8 actlvltles
Group
Company
2022
2021
2022
2021
Unrestricted
Rental income
Services Income
Buslness Consultancy & Sales
537.146
20,851
457,060 537,146 457,060
15,124
20,851
15,124
2,500
474,684 557,997 472,184
557,997
33

Local Economic Development Company (LEDCOM) Limited
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2022
6. Income from Charitable Activities
2022
Total
Unrestricted Restrlcted
2021
Grou
Exploring Enterprise
Go for it
Co-lnnovate
ASK/Amplify
Klck Start
Fresh Frontiers
Wise
Optimal Programme
The Seed Formula
Spark
Department for Communlties
Other
Sundry income
33,503
37,296
14,183
17,118
33,503
37,296
14,183
17,118
33,918
35,271
16,590
12,265
10,957
18,771
11,222)
2,220
7,500
694
15,130
7,500
5,397
7,977
694
15,130
7,500
5,397
7,977
21.850
11,006
10,042
98,571
138,798 170,690 245,847
21,850
10,042
31,892
The 2021 total of £245.847 was split as £136,270 restricted and £109,577 unrestricted.
2022
Total
Unrestricted Restricted
2021
Com
an
Exploring Enterprise
Go for it
Co-lnnovate
ASK/Amplify
Kick Start
Fresh Frontiers
Wise
Optimal Programme
The Seed Formula
Spark
Department for Communities
Other
Sundry income
33,503
37,296
14,183
17,118
33,503
37.296
14,183
17.118
33,918
35,271
16,590
12,265
10,957
18,771
(1,222)
2,220
7,500
694
15,130
7,500
5,397
7,977
694
15,130
7,500
5,397
7,977
21,850
11,006
10.042
98,571
170,690 245,847
21,850
10,042
31,892
138,798
The 2021 total of £245,847 was split as £136,270 restricted and £109,577 unrestricted.
34

Local Economic Development Company (LEDCOM) Limited
Company Llmlted By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2022
7. Interest receivable
Group
Companv
2022
2021
2022
2021
Interest receivable
178
255
178
255
8. Charitable Activities
Charltable
Actlvltles
2022
Rental
Servlces
2022
Charitable
Activities
2021
Rental
Services
2021
Total
2022
Total
2021
Grou
Staff costs
Programme Direct costs
Advertising and marketing
Bank and loan interest
Establishment costs
Depreciation
Other costs
Governance c05t5.'
Professional and legal fees
Audit & accountancy fees
64,701
59,086
10,071
257,826
322,527
59.086
10,071
6,875
161,935
23,526
34,426
71,223
51,033
11,209
237,614
308,837
51,033
11,209
1,467
111,991
27,011
35,713
6,875
161,935
23,526
29,486
1,467
111,991
27,011
32,908
4,940
2,805
7,539
12,609
499,796
7,539
12,609
638,594
16,148
14,189
441,328
16,148
14,189
577,598
138,798
136,270
Charltable
Activltles
2022
Rental
Services
2022
Charitable
Activities
2021
Rental
Services
2021
Total
2022
Total
2021
an
Staff costs
Programme Direct costs
Advertising and marketing
Bank and loan interest
Establishment costs
Depreciation
Other costs
Governance costs..
Professional and legal fees
Audit & accountancy fees
64,701
59,086
10,071
257,826
322.527
59,086
10,071
6,708
161,572
23,526
34.401
71,223
51,033
11,209
237,614
308,837
51,033
11,209
1,322
111,663
27,011
32,213
6,708
161,572
23,526
29,461
1,322
111,663
27,011
29,408
4,940
2,805
7,539
12,596
499,228
7,539
12.596
638,026
16,148
14,176
437,342
16,148
14,176
573,612
138,798
136,270
35

Local Economic Development Company ILEDCOM) Limited
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2022
9. Analysis of charitable actlvltles expenses
Unrestrirted Restrirted
2022
2022
Total
2022
Unrestricted Restricted
2021
2021
Total
2021
Grou
Staff costs
Programme Direct costs
Advertising and marketing
Bank and loan interest
Insurance
Heat and Ilght
Repairs
Cleaning
Rates
Telephone
Computer5
Depreciation
Bad debt provision
General
Motor expenses
Donations
Governonce c05t5.'
Professional and legal fees
Audit & accountancy fees
257,826
64,701
59,086
10,071
322.527
59,086
10,071
6.875
11.865
48.466
56,715
3.574
9,717
17,208
3.752
23,526
10,638
29.486
4,940
237,614
71,223
51,033
11,209
308,837
51,033
11,209
1,467
10,561
24,263
31,945
3,697
4,091
16,559
3,031
27,011
17,844
29.408
2,805
3,500
6,875
11,865
48,466
56,715
3,574
9,717
17,208
3,752
23,526
10,638
29,486
1,467
10,561
24,263
31,945
3,697
4,091
16,559
3,031
27,011
17,844
29,408
4,940
2,805
3,500
7,539
12,609
499,796
7,539
12,609
638,594
16,148
14,189
441,328
16,148
14,189
577,S98
138,798
136,270
36

Local Economic Development Company ILEDCOM) Limited
Company Llmlted By Guarantee
Notes to the Financlal Statements
For the year ended 30th September 2022
10. Analysis of charitable actlvltles expenses
Unrestrlcted Restricted
2022
2022
Total
2022
Unrestricted
2021
Restricted
2021
Total
2021
Com
an
Staff costs
Programme Direct costs
Advertising and marketing
Bank and loan interest
Insurance
Heat and Ilght
Repairs
Cleaning
Rates
Telephone
Computers
Depreciation
Bad debt provision
General
Motor expenses
Governonce c05t5."
Professional and legal fees
Audit & accountancy fees
257,826
64,701
59,086
10,071
322,527
59,086
10.071
6.708
11,502
48,466
56.715
3,574
9.717
17,208
3,752
23,526
10,638
29.461
4,940
237,614
71,223
51,033
11,209
308,837
51,033
11.209
1,322
10,233
24,263
31,945
3,697
4,091
16,559
3,031
27,011
17,844
29,408
2.805
6,708
11,502
48,466
56,715
3,574
9,717
17,208
3,752
23,526
10,638
29,461
1,322
10,233
24,263
31,945
3,697
4,091
16,559
3,031
27,011
17,844
29,408
4,940
2,805
7,539
12,596
499,228
7,539
12,596
638,026
16,148
14,176
437,342
16,148
14,176
573,612
138,798
136,270
37

Local Economic Development Company (LEDCOMI Limited
Company Llmited By Guarantee
Notes to the Flnanclal Statements
For the year ended 30th September 2022
11. Tangible Fixed Assets
Grou
Freehold
Property
Plant and
Office
equipment equipment
Motor Fixtures &
vehicles
Fittings
Total
Cost
At l Ortober 2021
Additions
Disposals
Revaluation
At 30 September 2021
5,391,687
32,072
352,903
12,292
141,566
2,558
27,350
600 5,914,106
46,922
263,000
5.686.759
263,000
600 6,224,028
365,195
144,124
27,350
Accumulated depreclatlon
At l October 2021
Charge of the year
Depreciation on disposa I
At 30 September 2022
1,643,187
259,408
21,529
137,885
1,728
27,044
269
600 2,068,124
23,526
1,643,187
280,937
139,613
27,313
600 2,091,650
Net book amount
At 30 September 2022
At 30 September 2021
4,043,572
3,748,500
84,258
93,495
4,511
3,681
37
4,132,378
3,845,982
306
Com
an
Freehold
Property
Plant and
Office
equipment equlpment
Motor
vehicles
Total
Cost
At l October 2021
Additions
Disposals
Revaluation
At 30 September 2022
5,391,687
32,072
352,903
12,292
141,566
2,558
27,350 5,913,506
46,922
263.000
5,686.759
263.000
27,350 6,223,428
365,195
144,124
Accumulated depreclatlon
At l October 2021
Charge of the year
Depreciation on disposal
At 30 September 2022
1,643,187
259,408
21,529
137,885
1,728
27,044 2,067,524
269
23,526
1,643,187
280,937
139,613
27,313 2,091,050
Net book amount
At 30 September 2022
At 30 September 2021
4,043.572
3,748,500
84,258
93,495
4,511
3,681
37 4,132,378
306 3,845,982
The Freehold Property at Doagh Road, with a carrying value of £50,000, were revalued prior to
acquisition, in June 2021 by Osborne King, independent valuers not connected with the cha rity
on the basis of market value. The va luation conforms to International Val uation Standards
and was based on recent market transactions at arm's length for similar properties.
38

Local Economic Development Company (LEDCOMI Limited
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2022
12. Investments
The company's principal trading subsidiaries are:
Country of
Name
incorporatlon
Business-Led (Northern Northern Ireland
Ireland) Limited
Heritage Experience
Limlted
Principal
activity
Project Management
Company limited by
guarantee
Company limited by
guarantee
Northern Ireland
Video distribution
13. Debtors
Group
2022
Company
2022
2021
2021
Trade debtors
Amounts owed by subsidiary undertaking
Prepayment5 and accrued income
58,709
23,628
58,709
33,455
51,397
143,561
23,628
33,355
72,683
129,666
51,397
110,106
72,683
96,311
Amount5 owed by subsidiary undertaking are unsecured, interest free, have no fixed date of
repayment and are repayable on demand.
14. Credltors: falling due wlthin one year
Group
2022
Company
2022
2021
2021
Trade creditors
Other taxation and social security
Accruals and deferred Income
Bank loans
Other creditors
35,129
33,517
36,958
126,248
2,102
233,954
30,740
33,963
20,414
69,231
3,199
157,547
34,781
33,517
32,915
126,248
2,102
229,563
30,393
33,963
16,370
69,231
3,199
153,156
Amounts owed by subsidiary undertaking are unsecured, interest free, have no fixed date of
repayment and are repayable on demand.
Creditors: falling due more than one year
Group
2022
Company
2022
2021
2021
Bank loans
458,620
458,620
580,769
580,769
458,620
458,620
580,769
580,769
39

Local Economic Development Company (LEDCOM) Limited
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2022
15. Analysi5 of net assets between funds
Deslgnated
funds
Restricted Economlc
funds
Assets
General
funds
Total
funds
2022
Grou
Tangible fixed assets
Net current assets
Creditors: Falling due more than one year
Total
4,043,572
88,806 4,132,378
958,826 958,826
(458,6201 (458,620)
589,012 4,632.584
4,043,572
Designated
funds
Restrlcted Economlc
funds
Assets
General
funds
Total
funds
2022
Com
an
Tangible fixed assets
Net current assets
Creditor5: Falling due more than one year
Total
4,043,572
88,806 4,132,378
996,175 996,175
{458.6201 (458,620)
626,361 4,669,933
4,043,572
Designated
funds
Restrlrted Economlc
funds
Assets
General
funds
Total
funds
2021
Grou
Tangible fixed assets
Net current assets
Creditors: Falling due more than one year
Total
3,748,500
97,482 3,845,982
984,100 984,100
(580,769) {580.769)
500,813 4,249.313
3,748,500
Designated
funds
Restrirted Economic
funds
Assets
General
funds
Total
funds
2021
Com
an
Tangible fixed assets
Net current assets
Creditors: Falling due more than one year
Total
3,748,500
97,482 3.845.982
1,020.881 1.020.881
1580,7691 (580.769)
537.594 4.286.094
3.748.500
Designated fund5- Economic Assets, represent properties held by LEDCOM for the purposes of
economic activity and to serve the small businesses and tenant5 of the organisation.
40

Local Economic Development Company (LEDCOMI Limited
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2022
16. Unrestrlcted funds
Designated
funds
Economlc
Assets
General
funds
Total
funds
2022
Grou
At l October 2021
Net incoming/loutgoingl resources
Transfers Between Funds
Total
3,748,500
500,813 4,249,313
383,271
383,271
1295,0721
589,012 4,632,584
295,072
4,043,572
Designated
funds
Economlc
Assets
General
funds
Total
funds
Com
an
At l October 2021
Net incoming/{outgoingl resources
Transfers Between Fund5
Total
3,748,500
537,594 4,286,094
383,839
383,839
1295,0721
626,361 4.669,933
295,072
4,043,572
Deslgnated
funds
Economlc
Assets
General
funds
Total
funds
2021
Grou
At l October 2020
Net incoming/loutgoingl resources
Transfers Between Funds
Total
1,526,251 1,783,978 3,310,229
939,084
939,084
2,222,249 12,222,249)
3,748,500
500,813 4.249,313
Designated
funds
Economic
Assets
General
funds
Total
funds
Com
an
At l October 2020
Net incoming/loutgoing) resources
Transfers Between Funds
Total
1,526,251 1,819,273 3,345,524
940,570
940,570
2,222,249 12,222,249)
3,748,500
537,594 4.286.094
Designated funds- Economic Asset5, represent propertie5 held by LEDCOM for the purposes of
economic activity and to serve the Small businesses and tenants of the or8ani5ation.
41

Local Economic Development Company (LEDCOM) Limited
Company Llmlted By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2022
17. Restrlcted funds
Balance at
l Ottober
2021
Transfer
between
funds
Balance at
30 September
2022
Incoming
resources
Outgoing
resources
Grou
and com
an
Exploring Enterprise
Go for it
Co-lnnovate
ASK/Amplify
Wise
Optimal Programme
The Seed Formula
Spark
Department for Communitles
33,503
37,296
14, 183
17,118
694
15,130
7,500
5,397
7,977
133,5031
{37,2961
{14,1831
(17,118)
(694)
115,130)
{7,500)
(5,3971
(7,9771
138,798
1138,7981
Balance at
l October
2020
Transfer
between
funds
Balance at
30 September
2021
Incoming
resources
Outgolng
resources
Grou
and com
an
Exploring Enterprise
Go for it
Co-lnnovate
ASK/Amplify
Kick Start
33,918
35,271
16,590
12,265
(33,9181
135,271)
116,590)
112,265)
E 11
10,957
18,771
11,2221
2,220
7,500
110,957)
(18,771)
1,222
(2,2201
17,5001
Fresh Frontiers
Wise
Optimal Programme
The Seed Formula
136,270
1136,270)
Each of these funds is described in detail in the Trustee's report.
42

Local Economic Development Company ILEDCOM) Limlted
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2022
18. Taxatlon
The charitable company is a registered charity and as such is entitled to certai n tax exem ptions on
income and profits from i nvestments. and 5urpluse5 on any trading activitie5 carried on in furtherance
of the charity's pri mary objectives, if these profits and 5urplu5es are applied solely for charitable
purposes.
19. Contingent liablllty
There is a contingent liability to repay certain government grants if the charitable com pany fails to
honour certain undertakings and commitments. In the opinion of the Trustee5 the terms of letters
of offer have complied with and no loss is anticipated.
20. Llablllty of members
Local Economic Development Company ILEDCOM) Limited is a company limited by guarantee and
does not have a share capital. The liability of each member is limited to an amount not exceeding £1.
21. Related party transactlons and ultimate controlling partv.
There is no ultlmate controlling party, The company has taken advantage5 of the exemptions contained
in FRS102 Section 33 not to disclose transactions between group entities as all of the voting rights of
the company are controlled wlthln the group.
Financlal Instruments
Group
Company
2022
2021
2022
2021
Financial assets that are measured at amortised cost
Cash and cash equivalents
Trade debtors
Amounts owed by subsidiary undertakings
Total
1.082,674 1,045,336 1,082,177 1,044,371
58,709
23,628
58,709
23,628
33,455
33,355
1,141,383 1,068,964 1,174,341 1,101,354
Group
Company
2022
2021
2022
2021
Financlal Ilabillties that are measured at amortised cost
Bank loans
Trade creditors
Accrued expenses
Amounts owed to subsidiary undertakin85
Total
584,868
35.129
36.958
650.000
30,740
20,414
584,868
34.781
32,915
650,000
30,393
16,370
656,955
701,154
652,564
696,763
43

Local Economic Development Company ILEDCOM) Limited
Company Llmited By Guarantee
Notes to the Flnancial Ststements
For the year ended 30th September 2022
22. Net cash generated from operating activities
2022
2021
Net incoming/loutgoing) resources
Depreciation
Interest payable and similar expenses
Interest receivable and similar income
(Gain)/Loss on revaluation of fixed assets
Movement in debtors
Movement in creditors {excluding loans)
383,271 939,084
23,526
27,011
6,875
1,073
1178)
(255)
(263,000) 1795,8961
113,795)
6,359
19,390 (16,349)
Net cash inflow from operating activities
156,089 161,027
23. Analysls of cash and cash equlvalents
2022
2021
Bank
Bank Loans
1,082,674 1,045,336
1584,868) {650,000)
497,806 395,336
44