Local Economic Development Company (LEDCOM) Limited
Report of the Trustees
Year Ended 30 September 2022
The Trustees, who are also the Board of Directors of the charitable company. present their annual report and
audited consolidated financial statements of the group for the year ended 30 September 2022. The Trustees have
adopted the provisions of the Companies Act 2006 and Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparing their financial statements in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 effective 1 January 2019-
(Charities SORP (FRS 102)), in preparing the annual report and financial statements of the charity.
OBJECTIVES AND ACTIVITIESIPUBLIC BENEFIT
LEDCOM is a social enterprise and company limited by guarantee with charitable objects focused on economic
development.
In this report LEDCOM has sought to reflect and have due regard for the Nl Charities Commission's guidance on
public benefit.
LEDCOM charitable objects are..
(1 } The promotion for the publlc benefil of urban and rural regeneration In areas and sectors of social and
economic deprivation in Northern Ireland, the Republic of Ireland andlor Great Britain (the "areas of benefit.),
by all of any of the following means-
(i) the relief of poverty in such ways as May be thought fit:
(li) the relief of unemployment in such ways as may be thought fit, including assistance to find
employment.,
(iiil the advancement of education, training or retraining, particularly among unemployed people,
and providing unemployed people with work experience;
(iv) the provision of technical 8SSlStance or business advice or consultancy In order to provide
training and employment opportunities for unemployed or underemployed people in cases of
financial or other charltable need through help.. (i) in setting up their own business, or
(li) to existing businesses or to those considering establishing a business;
(vl the promotion and support of social enterprise, social economic development and sustainable
means of achieving economic growth and regeneration.,
(vi) the creation of training and employment opportunities by the provision of workspace, buildings
andlor land for use on favourable terms.
(2) Advance education for the public benefit by raising awareness and increasing knowledge of the importance
of economic enterprise, entrepreneurship and enterprise sustainability.
Evidence of delivery against the charity's obj8Cts
In 2021122 services, facilities, programmes and initiatives LEDCOM was involved with delivering resulted in
public benefit through:
(i) c. 250 businesslsocial enterprise start-ups and existing businesses supported and
signposted
{ii) c. 750 individuals helped with LEDCOM services and support activities including programme
participants, tenant businesses with individuals supported from disadvantaged areaslgroups
such as the long term unemployed, unemployed young people and those with disabilities

Local Economic Development Company (LEDCOM) Limited
Report of the Trustees
Year Ended 30 September 2022
(iiil Business start-up support delivered by LEDCOM in Mid and East Antrim & Antrim and
Newtownabbey facilitated the provision of c. 410 jobs with a potential economic impact of
c. £12.2M and Gross Value Added IGVA) of c. £1.1 M
(iv) c. £101k of pro bonolvoluntary services and time provided to the local community by
LEDCOM directors and staff
(v) 85 tenant businesseslorganisations with over 400 employment and training places
(vi) LEDCOM recirculated c. £350k into the wider social economy
SOCIAL OUTPUTS AND IMPACT
Social Impact Report
As a social enterprise LEDCOM records its social impact but also tracks how as an organisation it helps
businesses and individuals for public benefit,
LEDCOM records its outputs in terms of quantitative and qualitative impact.
The social outputs are measured over four key areas of outputs.
1 Staff time on non-income generated projects Icommunity projects 8nd on varlous social
economylcommunity & voluntary boardslcornmittees Including sessions of staff time ulilised
to help develop local community organisations, extra voluntary development support for new
start-up businesses for public benefit
2 Non charged or discounted use of conferencelmeeting rooms
3 Discounted or non-charged rental of units due to incubation support to support economic regeneration
and investment
4 Board of directors. and staff voluntary time supporting the local economy and communily with a focus
on community based economic regeneration, including voluntary boardlcommittee meetings
attended by LEDCOM board members across Nl
BREAKDOWN OF SOCIAL OUTPUTS
Staff Tlme
This involves support provided for communlty dèvelopment and economic development in Larn8 and across
Northern Ireland.
The equivalent of 617.9 staff hours were given lo the community in social outputs this year. The value of this time has
been multiplied by a cost recovery rate.
It is also worth noting that additional staff time over contracted hours were given as voluntary contribution from the staff
to LEDCOM'S charily objects and for public benefit.
As an organisation LEDCOM believes in sharing advice and expertise with others and hosted best practise visits from
local and international organisations sharing knowledge of social enterprise and economic development.
The rate of the social output calculation is £40 per hour for staff members,. hence the monetary value of this output is
calculated at £24.716.
Pro Bono Provision of Conferencè Facilities
This supports local community development and business growth for public benefit. During the year a value of £34.522
was provided in pro bono use of the conference facilities for community developmenueconomic regeneration.
The provision of facilities was provided at the management's discretion for different purposes and groups including.,
local community groups, counselling organisations community education, new start-up businesses. tenants and public
sector organisations.

Local Economic Development Company (LEDCOM) Limited
Report of the Trustees
Year Ended 30 September 2022
Innovation and Incubation Support
Discounted rentals and rental ramp up periods are used by LEDCOM to support economic development in the
region through bespoke incubation support. This support is provided through initiatives such as the Larne Business
Innovation & Incubation Programme (LBIIP). The LBIIP provides support on favourable terms for eligible
businesseslsocial enterprise for public benefit in terms of economic opportLJniti85 such as employment.
During the year a value of £15,815 of incubation support was invested in new start-up busine5seslsocial
enterprises and business growth projects.
Board voluntary tlme
As a social enterprise, the LEDCOM Board is made up of skilled, motivated and experienced local people serving
on a voluntary basis. In 202112022 they gave at least 518 hours of voluntary time.
This time is monitored and captured through board meetings, sub-committee meetings and project meetings. It
does not include any time spent by the board completing any additional voluntary work for Ihe charity. The rate
of the social output calculation is £50 per hour hence the monetary value of this output is calculated at £25.900.
Analysls of Social Output Valu•
Table 1 Social Out ut
Social Output Areas
Staff time
Output
uivalent Value
617.9 hours
£24,716.00
Pro bono use of
conferencelmeetin
facilities
214 session51uses
£34,522.00
Incubation Support
12 eligible businesse5 received
su
£15.815.00
Board voluntary time
Total
518 hours
£25,900.00
£100,953.00
ANALYSIS OF SOCIAL OUTPUT VALUE
Economlc Outcomes
Table 2 shows LEDCOM'S economic outcomes for the year.
Table 2 Economic Outcomes
Headlngs
Outcomes
Measured and verlfled by Queens
Universlt Belfast
QUB
research
ANBC
117jobs
MEABC
93 jobs
Tenancy
c. 200 jobs
Comblned total 410 "obs
£3,498,300.00
£2,750,800.00
£5,980.000.00
Job Creation
Using the Go for ItIINI measurement of
1.5 jobs per business plan
ANBC
MEABC
Tenancy
Using the median between the part-time
and full-time average salary Northem
Ireland figure of £29,900 produced by
NISRA (2022) to multiply this figure by
the number of jobs created in LEDCOM
Financial impact of the jobs created
Combined lotal £12.229,100

Local Economic Development Company {LEDCOM) Limited
Report of the Trustees
Year Ended 30 September 2022
Measured and verified by Queens
University Belfast (QUB> research
techniques
Headings
Outcomes
Antrim and Newtownabbey BC
£211,826 in year one and
£584,931 in year two
Total of £796,757
Sample of 10 businesses plans. A
standard calculation GVA on average
taken and multiplied by the number of
business plans completed
Gross value added
Mid & East Antrim BC
£142,198 in year one and
£204,034 in year Iwo
Totsi of £346,233
Comblned total £1,142,990
LEDCOM recirculated £348,160 into the wider
social economy
R8circulation of money
into the wider social
economy
Based on QU812017) research
findings the rate identified by QUB of
53p per £ spend in LEDCOM Is
recirculated into local economies
ANBC
£146,228.00
MEABC
£321.590.00
Other Areas
£189,090.00
Combined total £656,907
Total of 71 % of all LEDCOM expenditure
occurred within these two council areas
LEDCOM spend in ANBC
and MEABC areas
Based on QUB research findings within
LEDCOM
Suppliers re-spent 61 %
within the MEABC and
ANBC areas by a
multiplier effect
ANBC
£89,199.00
MEABC
Other Areas
(estimate)
£196.170.00
Based on QUB research findings within
LEDCOM
£115,345.00
Combined total £184,525
AN8C (1:1.35) £166,802
MEABC
1'.1.87
£366.838
LM£ ratios for MEABC &
ANBC

Local Economic Development Company (LEDCOM) Limited
Report of the Trustees
Year Ended 30 September 2022
KEY BUSINESS ACTIVITY AREAS
2.1 Buslness Start Up and Growth (ended March 2021. through ENI)
Enterprise Nl secured the tender for the Northern Ireland Business Start Programme (NIBSUP) IGO For It operating
until March 2023, with LEDCOM delivering across two council areas~ Mid and East Antrim (Larne) and Antrim and
Newtownabbey (Ballyclare and Antrim).
The outcomes for the programme during the year are as follows..
Initial assessments
158 (70 in Mid and East Antrim and 88 in Antrim and Newtownabbey)
This has decreased slightly from 167 the previous year.
Business Plans:
140162 in Mid and East Antrim and 78 in Antrim and Newtownabb6y)
This was down from 135 the previous year.
Workshops:
LEDCOM also facilitates advice and counselling sessions with other 5UPPOrt organisations. Clients are also referred
where appropriate to bodies such as Invest Nl, HMRC, Intertradelreland, and local government economic
development support programmes. In addition, tenants and other local businesses receive advice on a regular basis
as required, or through an incubation support programme, and business advice and information is circulated to
businesses as relevant.
Loan Funds (The ENI admlnlstered Nl Start-up Loan Fund)
LEDCOM receives enquiries in relation to the Enterprise Nl Start-up Loan Funds. Start Up loans offer public benefit
through helping all eligible small business owners access the funding they need to start or grow- and then back up
the funding with support and mentoring to give each of those businesses the opportunity to succeed. During the year
four new clients were mentored {up from one in the previous year) and there were several other enquiries
LEDCOM also works closely with clients in helping them access other loan funding and sources of funding and
support such as Banks, the Michelin Development Fund, the rural small grants scheme and Innovation Vouchers.
Co4nnovate
Enterprise Nl, in partnership with Intertradelreland, secured support to deliver a Co-lnnovate programme up to June
2022. It is funded through the INTERREG VA Programme and aims to provide public benefit through promotion of
the benefits of innovation. It encourages research and development among businesses in the manufacturing and
tradeable services Sectors through workshops, expert mentoring support, detailed innovation audits and business
health checks, project management placements and sectoral networks. LEDCOM'S target over the 4-year lifetime of
the programme on behalf of Enterprise Nl was to take 18 clients through Strand 2 (A). completing Business Status
reviews with each. By th8 end of the programme in June 2022, 46 clients had already received Business StatUS
review support including 5 in the current year. Seven clients were targeted to receive Strand 2(B) support for the
duration of the programme, completing Innovation Audits. By June 2022, 30 clients had completed Innovation Audits
including seven the current year. LEDCOM had the distinction of recruiting more clients for direct progression to
Strand 2 during the programme lif8time than any other agency in Northern Ireland.

Local Economic Development Company (LEDCOM) Limited
Report of the Trustees
Year Ended 30 September 2022
Escalator and Optimal
On behalf of Mid and East Antrim Borough Council (MEABC) LEDCOM staff were selected in 2021 to deliver
mentoring for established small businesses under the Escalator programme in order to boost their sustainabilily and
economic impact. During the year LEDCOM supported 26 clients through the Business Escalator programme, an
increase from 23 the previous year.
During the year LEDCOM delivered 16 mentoring projects to 14 clients through the Optimal Programme run by ANBC
and covering a range of subjects including business planning, marketing, sales, financial planning innovation and
export. In addition, LEDCOM delivered five workshops to Optimal clients on subjects such as social media and
exporting.
KlckstartlSPARK
During the year LEDCOM delivered mentoring to early-stage entrepreneurs through the MEABC funded Spark
programme on a wide range of business-related topics. By the year end LEDCOM had mentored 15 Glients.
Business Start-up Coaching and Pre Go For It
Funded by ANBC, the business start-up coaching programme and Pre Go For it Programrne were delivered by the
three enterprise centres with a presence in the Council area, i.e. LEDCOM, Mallusk Enterprise Park {MEP) and Antrlm
Enterprise. These programmes finished in May 2022 but with a prospect of further similar programmes in the following
year. The programme included 5 hours of coaching and a potential £200 bursary to businesses who had cornpleted
Go For It Snd who were starting up and registering their business in the ANN8 Council area. LEDCOM and Mallusk
undertook the recruitment of clients and delivery of coaching, while Antrim EA covered the administration. By the end
of Ihe programme, LEDCOM had coached 23 clients and iaken a further 21 clients through Pre Go For it mentoring
support in the current year.
2.2 Social Entrepreneurship
Support for Soclal Enterprises
During the year LEDCOM secured a contract from MEABC to deliver a series of four explore social workshops to
potential new social enterprises. By the year end, two of the workshops had been delivered with a total of 12
participants.
In July 2022 LEDCOM also received notffication that it had been successful, along wlth Mallusk Enterprise Park, in Its
bid to deliver the AN8C Social Enterprise Programme offering 26 hours mentoring to 12 potential new social
enterprises over the period September 2022- March 2023. By the year end. LEDCOM had already been allocated
three clients to mentor.
2.3 Community Engagament and Employablllty
Explorlng Enterprise, Programme (EEP4)
The Exploring Ent8rprise4 Programme (EEP4) was delivered on behalf of Enterprise Nl by LEDCOM in the Larne and
Ballymena areas, with four courses fully delivered in this period and one course partially delivered. Match funding was
secured from Mid & East Antrim Borough Council (MEABC) for each of the courses. LEDCOM also fully delivered one
course from Antrim & Newtownabbey Council (ANBC) and partially delivered one course. In addition, we partially
delivered one course on behalf of Antrim Enterprise Agency. We secured match funding from Antrim &
Newlownabbey Borough Council and Enkalon for each of the ANBC courses. In total we have supported 76 people
from two council areas.
With respect to participant outcomes, 940/0 of individuals that completed the training received support sourcing
employment. self-employment, gained a recognised qualification in "Understanding Business Enterprise" or
progressed to further training.

Local Economic Development Company (LEDCOM) Limited
Report of the Trustees
Year Ended 30 September 2022
The 50+ Programme
The 50+ Fresh Start Programme was a programme for residents in the MEABC area aimed at raising awareness of self-
employment to those aged over 50. The programme was funded by MEABC to the value of £7,500. Nine participants
engaged Ihroughout the programme. All targets were mel or exceeded. Mentoring support was provided to eight
participants totalling 74.5 hours. Eighl participants were signposted to other support programmes including Spark, EEP
and Invest Nl. Six participants progressed to start-up.
2.4 Economic Development Services
LEDCOM manages a Service Level Agreement {SLA) annually on behalf of MEABC to deliver specific economic
development projects and during the year delivered an enterprise initiative for older clients called Fresh Start 50 Plus.
The programme consisted of five workshops, with guest outside speakers as well as the internal LEDCOM team.
In total eight participants received at least nine hours mentoring each and all receivad an action plan. All nine clients
received appropriate signposting to other support and six clients progressed to business plan,
2.5 Property and Conferenclng
In total LEDCOM has c. 100,000 sq.ft. of lettable space comprising 106 units across its four locations, the occupancy
levels of which are detailed below.
Bank Road (BR)
In total, Bank Road Business Park has c. 60.000 sq.ft. of lettable space comprising 62 units.
Tenancy levels remained hlgh this year, with the following net movement over the year,.
Metrlc
At 3010912021
47162
At 3010912022
59162
Net Movement
+12
LeVTotal Unit Count
95.20 %
53,934158,722
91,80%
+19,4%
45,820158,722
78.00 /0
+8.114
Letrrotal Area
ft.
+13.80/0
A total of 12 new tenants leased units on site this year.
Wlllowbank Business Park (WB)
In total, Willowbank Business Park has c. 35,000 sq.ft. of lettable space comprising 26 units. A particular emphasis is
placed on knowledge based and export-oriented businesses with growth potential.
Metric
At 3010912021
20126
At 3010912022
20126
Net Movemenl
NIA
LeUTotal Unit Count
76.90 /
26,869134946
76.90°/.
26,869134946
NIA
LeVTotal Area
There were no new tenants this year, desprta numerous enquiries.

Local Economic Development Company (LEDCOM) Limited
Report of the Trustees
Year Ended 30 September 2022
Foundry House (Ballyclare)
In total, Foundry House has c. 5,500 sq.ft. of lettable space comprising 17 units and licence oplions.
Tenancy levels grew well this year, with the following net movement over the year-
Metric
At 3010912021
2117
At 3010912022
5117
Net Movemenl
Letrrotal Unit Count
11.80%
101415235
19.40°/0
+17.6%
150415235
28.70°/
+490
LeUTotal Area
sq. ft.
+9.3 %
Two new tenants leased units and two new licensees operated on site this year.
The Work Cube (WC)
In total, The Work Cube has 204 sq.ft. of lettable space comprising two units and four shared work spaces for
licensees, all with access to a shared kitchenette.
Tenanc
levels remalned hi
Metric
h this ear, with the followln
nel movement over the ear:
At 3010912021
At 3010912022
Net Movement
012
212
Letrrotal Unit Count
0.00 %
+1000/0
01204
2041204
100.00°/o
+204
Let￿otal Area (sq. ft.
+1000/0
One new tenant leased a unit and one new licensee op8rated on site this year.
Conferenclng
The conference and meetlng facilities were increasingly used by both tenants and non-tenants with strong post Covid
recovery.
2.6 Business DevelopmentlR&D
During the year LEDCOM focused on the development of its subsldlary soclal enterprises and supporting them to scale
up.
LEDCOM continued to work on a significant social enterprise project in Ballyclare by improving and growing the
operation of the Foundry House facility in line with its charitable objects.
During the year a Ballyclare co-workinglhot-d8sking facility (The Work Cube) was developed in partnership with Choice
Housing, and supported by ANBC. The facility was opened and by year end usage rates were on target.
3. SUBSIDIARY ACTIVITIES
3.1 Buslness Led Nl Ltd
Business Led Nl Ltd. is a wholly owned LEDCOM subsidiary social enterprise with the aim of supporting
economic development through specialist services.
During the year the organisation identified new work streams which were progressed by year end.
io

Local Economic Development Company (LEDCOM) Limited
Report of the Trustees
Year Ended 30 September 2022
3.2 Hefltage Experience (HE)
Heritage Experience aims to develop and market cultural heritsge Itourism related products and services to
support tourism focussed economic development.
Sales of the DVD series "An Independent People ° have continued through retailers and individuals.
HE is a wholly owned subsidiary within LEDCOM.
STRUCTURE, CORPORATE GOVERNANCE, RISK MANAGEMENT & RELATED PARTIES
The Directors are committed to the highest standards of corporate governance and strive to develop a corporate
culture in line with the organisation's purpose and strategy while endeavouring to achieve the balance be￿een
strategy, governance and performance management.
At each board meeting there is a corporate governancel conflict of Interest review.
Board Development
Board members training and development in relation to LEDCOM'S work is undertaken in a range of ways relevant to
the strategic direction and corporate governance requirements of the organisatlon including..
Regular briefings at board meetings on related topics-,
Participation in seminars and information events organised by LEDCOM and other bodies such as
local councils, Enterprise Nl, etc.
Regular circulation of relevant reports and information by email to all directors.
An annual directors and staff research and strategy review event was held at Catalyst North-west
Risk management and risk appetite is regularly discussed at board meetings - as well as staff 1.'1s and team
meetings.
A corporate risk register and business continuity plan is kept updsted and reviewed regularly at quarterly board
meetings.
Directors and staff are involved in a number of other extemal organisations- such as Enterprise Nl, InterTradelr8land,
Northem Regional College, and Stranmillis University College- where good practice in corporate governance and risk
management is identified and applied as appropriate within LEDCOM.
Financial Review and Control
The Finance and General Purposes Committee met six times to review financial performance, capital
expenditure and staffing, with recommendations made to full board meetings for approval.
A detailed budget and cash flow forecast (related to delivering the organisation's charitable objectives) is
produced at the start of each financial year and performancelvariances reviewed in detail throughout the
financial year.
Management accounts, account balances, cash flow forecasts and budget reports are reviewed and analysed
in detail each quarter by the Finance and General Purposes Committee with reports and recommendations
made to full board meetings for approval.
By year end. it was noted that performance against budget and cash flow forecasts W8re in line with projections tsking
into account the residual impact of Covid-19 and inflationary pressures. enabling the organisation to fulfil its charitable
objects.
li

Local Economlc Development Company (LEDCOM) Limited
Report of the Trustees
Year Ended 30 September 2022
Reserves Policy
As a member of NICVA, LEDCOM trusteesldirectors operate a reserves policylpractice aligned to guidance
drawn up by the (formerl Department of Finance and Personnel following consultation with the voluntary and
commLJnily sector and relevant to voluntary and community organisations, statutory bodies and funders
generally.
The trusteesldirectors of LEDCOM recognise that the Charity Commission does not prescribe a 'correct' level
of reserves and an understanding that a reserves policylpractice has to be seen In the wider financial position
of an organisation.
In line with the above guidance and good practlce, LEDCOM'S policylpractice allows for:
(1)
(2)
Sufficient free reserves to provide cover for be￿een 3-6 months in relation to known liabilities.
A smaller additional provision for free reserves for unforeseen liabilities.
This pollcylpractlce was adhered to throughout the reporling period.
Staff remuneration
Staff performance and development is regularly appraised at 1.1 meetings wlth detslled annual appraisals
reviewed by the Remuneration Committee.
Board members who serve on the Remuneration Committee have extensive knowledge and experience of
employee remuneration and rewards across the public, private and social economy Sectors.
When making recommendations on staff remuneration and rewards the committee member5 take into account '.
Performance against individual work plans and targets in the context of the organisation's
chsritable objects, performance and financial sustainability
Regular review and benchmarking with Enterprise Nl members and related research, social
economy, voluntsry and communily organisations, public and private sectors
Recommendations are made by the committee to LEDCOM'S Flnance & General Purposes Committee which
in turn makes recommendations to the full board of directorsltrustees.
Strateglc Planning
The Board of Directors held seven full meetings during the year to review company performance, polScles and
strategy.
By year end, the 'Reboot Strategl for 2017 to 2022 was further implemented with regular review by the board
of directors at quarterly meetings. Reboot. was translated into an annual business plan and budget for the
financial year.
A significant sponsorship agreement continued during the year with Kilwaughter Minerals Ltd during the year
which was used to support the company's economic development activities and community based inits'atives to
provide public benefit.
LEDCOM maintained Customer Service Excellence (CSE) accreditation. As part of CSE being embedded across
company activities. a mystery shopping exercise was undertaken ￿lce with company customers to test levels of
service. The results were feedback to staff and directors with learning adjustments made.
12

Local Economic Development Company (LEDCOM) Limlted
Report of the Trustees
Year Ended 30 September 2022
Strategic Planning (continued)
The company's key activities were monitored within 2 departmentallcost centre approach under the key headings
of" business slart-up & growth, social entrepreneurship, community engagement & employability, economic
developrnent, property & conferencing and business developmenUR&D.
LEDCOM'S voluntary directors have given over 37 years of comrnitment as a board of directors to the
establishment and growth of LEDCOM and its range of services, in order to support local economic development
and provide self-employment and employment opportunities for local people. The aggregate commitment of the
directors who have served within LEDCOM equates to over 420 years of voluntary service.
Their voluntary commitment to economic development goes beyond the essential corporate governance
requirements of running a social enterprise with charitable status and includes..
The implementation of economic development initiatives such as the Larne Business Innovation &
Incubation Prcgramme ( LBIIP)
Working to provide support for local people, businesses and organisatlons by serving as voluntary
dlrectors with LEDCOM'S subsidiary companies such as Business Led- Nl Ltd,
Serving on a range of company sub-committees and project groups includlng., the Flnance &
General Purposes Committee, Building Committee, Marketing Committee and Remuneration
Committee
Representing the company on local social enterprises and community groups such as: Millbrook
Community Association
Representing the company and regularly participating in a wide range of LEDCOM related events
including,. business breakfasts. networking events, conferences, awards & celebration events
Providing a variety of informal types of voluntary support such as mentoring and signposting for
local individuals, groups and businesses when engaging with them at LEDCOM events, although
these were largely curtailed during the year due to Covid-19.
During the year two founding directors. namely Arthur Henderson MBE and Roy Beggs MBE, stood down as
members of the Board but remalning as members of the company. Both have given 36 years of faithful and
committed service as board members. Arthur served as LEDCOM Chaimian for over 20 years. Everyone Is deeply
appreciative of th8ir support and wishes them well in their retirement from LEDCOM after an extensive period of
commitment.
During the year. Hugh Giffen, a founding director and member of the company sadly passed away. Hugh made a
significant contribution to the board of directors during the early years of LEDCOM'S establishment. Following his
retirement as a director, Hugh continued to show great interest in LEDCOM and regularly attended the AGM.
13

Local Economic Development Company (LEDCOM) Limlted
Report of the Trustees
Year Ended 30 September 2022
Strategic Planning Icontinuedl
The LEDCOM Board of Directors￿ rustees served in the following capacities over the last year..
DirectorlTru8te0
of LEDCOM Ltd
David Mcclean
Eleanor Mccann
Hazel Bell OBE
Hen
Fletcher
Jim Mcllro
John Shannon
John Sommervi11g
ice Chairman
Maureen Stewart
Metv
n Wat18
Building
Committee
Marketlng
Committee
Romuneratlon
Committee
Chairman
Flnanco &
General
Buslnes8.Led
Nl
Ltd
Hèritago
ence
U Chai
erson
Chairman
J Chair
erson
Dr Norman Apsley
OBE (Chairman
Chairman
Chairman
Dr Norman Ap51ey OBE also répresents LEDCOM on the external advisory group lo the Northem Regional College.
John Shannon also continues to represent LEDCOM on the Millbrook Community Association. Mervyn Walley
continued to mak8 a significant contribution to the implementation of the Bank Road Refurbishment Project and the
development plans for Foundry House. acting as the Board's project lead. Hazel Bell OBE also continues to act as
Chair of AEL Ltd.
Staff participated during the year in regular Team Meetings, Strategy sessions, 1..1 reviews and
personal development plans.
At year end, LEDCOM successfully passed its recertrfication audit from NQA wllh annu81 accreditation being
maintained under the standards ISO 14001-2015 and 9001-2015 with no non-conformances or previously
unidentified areas for improvement noted by the auditors.
LEDCOM 18 a member of Enterprise Nl (ENI) and attended various ENI events.
LEDCOM has developed a business continuity plan which identifies the key risks in the business alongside an action
plan to tackle these risks and a list of key contact organisalions.
14

Local Economic Development Company (LEDCOM) Limited
Report of the Trustees
Year Ended 30 September 2022
Staffing & Related Parties
Staff include:
Ken Nelson MBE continues to serve the company as Chief Executive Officer and Company Secretary with
responsibility for strategy implementation. continuous improvement and corporale governance. He is the
company's Finance Officer and responsible for company marketing. HR management and development
within LEDCOM as well as the development of key capital projects. He is also on the Chair of NRC
governing body and represents LEDCOM on the Labour Market Partnerships ILMPS) for both ANBC and
MEABC, and ANBC Peace IV and Peace Plus partnerships. During the year he finished his term as Chair of
David Gillespie continues to serve as Senior Business Adviser with particular responsibility for Start-up and
Growth programme5 and economic developmenl. David is also a board member of Enterprise Nl and
MEABC Peace IV Partnership and acts as a business mentor on various start up and growih programmes
including Escalator, Start Up Coaching and Optimal.
Dr Michael van der Merwe is Business Operations Manager, with responsibility for property management
(including lead responsibility for the LEDCOM Business Innovation & Incubation Programme (LBIIP), within
which he is also a mentor), project managemenl, quality management {ISO & CSE), tenderinglcontract
management, GDPR compliance, IT management and support provision. and programme delivery (e.g. Go
For It, EEP, BSUCP, Spark, Optimal).
Catherine Henderson is Business and Marketing Executive. Catherine manages the Go For It Programme.
She also works in other programmes such as Exploring Enterprise, SPARK, OPTIMAL and the
Entrepreneurship Programme. Catherine leads digital marketing and conference management for the
company.
June Scullion works as Finance Officer within the cornpany's financial administration and book-keeping
functions. June has responsibility for accounts administration, credit control and procurement providing
support to the companls key activilies.
Anne Ta￿or is Community Engagement Officer for LEDCOM and is involved as a co-ordinatorlmentor for
the 50+ and EEP programmès along alongside other community engagement initiatlV8S.
Nigel Taylor as Facilities Officer provides site malntenance services for the sites at 8ank Road and
Willowbank Business Park. He has responsibility for grounds maintenance, minor repair works and
preparation for conferances and meetings, along with various health and safety responsibilities.
Associates who worked with the company during the year included Alan Doole, Graeme Ritchie, Lawrence
Greer, and Deborah Fitzsimmons.
15

Local Economic Development Company (LEDCOM) Limited
Report of the Trustees
Year Ended 30 September 2022
MARKETING AND PROMOTIONAL ACTIVITIES
Brand Recognition and Client engagement were achieved through the year by:
A range of netsorking events
Regular issue of press releases and advertising in digital and print media locally and regionally
Digital signage at both sites
New and contemporary website and promotional video
Sponsorship with Larne Football Club of an advertising board which has featured prominently on
TV coverage of games
Publishing and circulation of annual report summsries
Working with companies such as NAKEDPR (PRI and Mint Design (Branding)
LEDCOM staff attended various business breakfasts organised by several of the political parties.
Advertisements and features highlightlng LEDCOM and its related seNlces We￿ carried in various local and
regional print and digital publications during the year. reflecting the range of activities in which LEDCOM is involved.
LEDCOM increasingly communicates with its customers and stakeholders through social media channels and
mobile
hone texts with the followin
act:
Channel
Followers
Facebook
Pa
e LikeslFollows 1169_ 120A increase from Previous
Twitter
1,873 followers
Insta
ram
232 followers - 80Q/o increase from the
Linkedln
145 followers - 65 % increase from the
ar
revious
revious
ear
ear
Acknowledgements
The Directors greally appreciate and acknowledge the support and assistance of many individuals and organisations
during 2021122 as we have sought to serve the Larne community as their Local Enterprise and Business Centre.
In particular we would mention..
Ballyclare Community Conc8rnslBallyclare Community Enterprises
Catalyst
Danske Bank
Department for Communities
Department for Economy
East Antrirn MP & MLAS
Fed8ration of Small Businesses
Husky Networks
INBIA
Int8rTradelreland
Invest Northern Ireland (North East Local Office and Headquartars)
Kelly PR
Kilwaughter Minerals Ltd
Larng FC
LEDCOM associates and suppliers
LEDCOM tenant businesses and organisations
Michelin Development
Moore Nl
NICVA
Northern Ireland Chamber of Commerce and Industry
Northern Regional College
16

Local Economic Development Company (LEDCOM) Limited
Report of the Trustees
Year Ended 30 September 2022
FPM
Soci81 Enterprise N I
The Chairman, Chief Executive, directors, staff and members of Enterprise Northern Ireland IENI)
The Mayor, Aldermen, Councillors and Council Officers of Antrim & Newtownabbey Borough Council (ANBC)
The Mayor, Alderm8n, Councillors and Council Officers of Mid & East Antrim Borough Council IMEABC)
Ulster Cornmunity Investment Trust
Young Enterpris8
RESPONSIBILITIES OF THE TRUSTEES
The Board of Dir6clors (who are also the Truslees of Local Economic Developrn8nt Company ILEDCOM} Limit8d
for the purposes of company lawl are responsible for preparing th8 Annual R8POrt and the flnancial statements
In accordance with applicable law and r8gulations.
Company18w requir8S the Board of Directors to prepar8 financi81 statements for each financial year, Under
that law the Board of Directors have 818cled to prepar8 the financial 5tatement¥ in accordance with United
Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicab18 law).
Under company law the Board of Dir&ctors must not approve the financial statements unless they are
satisfied that they give a true and falr view of Ihe slate of affairs of th8 chantable comp8ny and the income and
8xpendlture of the charitable company for Ihal period.
In preparlng thes8 financial statements. the truste8s are requlred to:
select suitable accounting policies and then apply them consistently.,
observe th8 methods and principles in the Charities SORP;
make judgements and accounting estimates that are reasonable and prud8nt',
stale ￿ether applicable UK Accounting Standards have been followed. subject lo any material
departur8s disclosed and explained in the financial statements.,
prepar8 the financial statements on th8 going concern basis unl8ss il is inappropriate to presume
that the charitable company will continue in operation.
The Board of Directors arè responsible for keeping adequat8 accounting records that are sufficient lo show
and explain the charitable company's transactions and disclose with reasonable accuracy at any time the
financial position of the charitable company and enab18 them to ensure that the financlal statements comply
with the Companies Act 2006. They are also responsible for safeguarding the assets of tha charitable company
and h8nc8 for taking r8asonable steps for the prevention and detection of fraud and othér irregularities.
The trustees are responsiblè for the maintenance and Integrlty of th8 corporate and financial information
induded on the charitable company's w8bsit8. Legislation In thè United Kingdom governing th8 pr8paration
and diss8mination of financial statements may differ from legislation in other jurlsdiclions.
Statement as to dls¢lo$ure to our audltors:
In so far as the Board of Directors are aware at the lime of approving our trustees, annual report.,
there is no ￿levant audit information of which the charitable company's auditor is unaware; and
the trustees, having made enquiries of fellow directors and the group's auditor Ihal they ought lo
have individually taken, hav8 each laken all steps that helshe is obliged to take as a director in
order to make themselves aware of any relevant audit information and to establish that the auditor
is aware of the information.
By order
he Board of
tees
Ken
elson (H
Company Secr
MBE
Date..
ql Ill 11
17