Local Economic Development Company (LEDCOMI Limited
Company Limited By Guarantee
Consolidated Statement of Financial Activities
Forthe year ended 30th September 2023
Unrestricted Restricted
Funds
Funds
Total
2023
Total
2022
Notes
Income from".
Donations and legacies
Charitable Activities
Other Trading Activities - rental income
Investment Income
30,000
21,281
618,166
5.951
30,000
91,586
618,166
5,951
30,000
170,690
557,997
178
70,305
Total Income
675,398
70,305
745,703
758,865
Expenditure on..
Charitable Activities
Total Expenditure
819
525,205
525,205
70,305
70,305
595,510
595,510
638,594
638,594
Net Income/(Expenditure}
150,192
150,192
120,271
Transfers Between Funds
Unrealised gain on revaluation
of fixed assets
li
263,000
Net Movement in Funds
150,192
150,192
383,271
Reconciliation of Funds
Total Funds
Brought Forward
16117
4,632,584
4,632.584 4,249,313
Total Funds Carried Forward
4,782,776
4.782.776 4,632,584
The notes on pages 29 - 46 form part of these financial statements. The results relates to continuing
activities.
The company has no recognised gains and1055es other than those included above and therefore no
separate Statement of total recognised gains and losses h35 been presented.
24

Local Economic Development Company ILEDCOM) Limited
Company Limited By Guarantee
Statement of Financial Activities
For the year ended 30th September 2023
Unrestricted
Funds
Restricted
Funds
Total
2023
Total
2022
Notes
Income from:
Donation5 and Legacies
Charitable Activitie5
Other Trading Activities - rental income
Investment income
30,000
21,081
612,733
5,951
30,000
91,386
612,733
5.951
30,000
170,690
557,997
178
70,305
Total Income
669,765
70,305
740,070
758,865
Expenditure on:
Charitable Activities
Total Expenditure
819
521,278
521,278
70,305
70,305
591,583
591,583
638.026
638,026
Net income/{expenditurel
148,487
148,487
120.839
Transfers Between Funds
Unrealised gain on revaluation
of fixed a55ets
li
263,000
Net Movement in Funds
148,487
148,487
383,839
Reconciliation of Funds
Total Funds Brought Forward
4,669.933
4,669,933 4,286.094
16117
Total Funds Carried Fonward
4,818,420
4,818,420 4,669.933
The note5 on pages 29 - 46 form part of these financial statements. The results relates to continuing
activities.
The company ha5 no recognised gains and losses other than those included above and therefore no
separate statement of total recognised gains and losses has been presented.
25

Local Economic Development Company ILEDCOM) Limited
Company Limited By Guarantee
Consolidated Statement of Financial Position
For the year ended 30th September 2023
2023
2022
Notes
Fixed assets
Tangible Assets
li
4,777,691 4,132.378
Current assets
Debtors
Cash at Bank and in Hand
Total Current Assets
13
134,372
110,106
619,420 1,082,674
753,792 1,192,780
Liabilities
Creditors.. Falling due within one year
14
1391,1131 1233,9541
Total Assets le55 Current Liabilities
5,140,370 5,091.204
Creditors.. Falling due more than one year
14
1357,5941 1458,6201
Net assets
4,782,776 4,632.584
Funds employed
Restricted Funds
Unrestricted Funds- General
Unrestricted Designated Funds - Economic Assets
17
16
16
739.204
589,012
4,043,572 4,043.572
4,782,776 4,632.584
The financial statements were approv
behalf bv:
and authorised for issue by the Board and were signed on its
DrNAps
Dirertor
Date:
J E Somerville
Director
Date:
Company Registration.. N1018438
The notes on pages 29 - 46 form part of these financial statements. The results relates to continuing
activities.
26

Local Economic Development Company (LEDCOMI Limited
Company Limited By Guarantee
Statement of Financial Position
For the year ended 30th September 2023
2023
2022
Flxed assets
Tangible Assets
li
4,777,691 4,132,378
Current assets
Debtors
Cash at Bank and in Hand
Total Current Assets
13
168,077
143,561
617,166 1,082,177
785,243 1,225,738
Liabilities
Creditors.. Falling due within one year
14
1386,9201 1229,5631
Total Assets less Current Liabilities
5,176,014 5,128,553
Creditors.. Falling due more than one year
14
1357,5941 1458,6201
Net assets
4,818,420 4,669.933
Funds employed
Restricted funds
Unrestricted Funds- General
Unrestricted Designated Funds- Economic Assets
17
16
16
774,848
626,361
4,043,572 4,043.572
4.818.420 4,669,933
27

Local Economic Development Company {LEDCOM) Limited
Limited By Guarantee
Consolidated statement of cash flows
For the year ended 30th September 2023
2023
2022
Notes
Cash used in Operating Activities
22
313,480
156,089
Cash flows from Investing Activities
Interest Income
Interest Paid
Purchase of Tangible Fixed Assets
Cash provided by (used inl Investing Activities
5,951
178
137.6681 16,8751
1671,6431 146,922}
1703,360) (53,6191
Cash flows from Financing Activities:
Cash used in Financing Activities
Increase/(decrease} In Cash and Cash Equivalents in the year
{389,880) 102,470
Cash and Cash Equivalents at the beginning of the year
497,806 395,336
Cash and Cash Equivalents
at the end of the reporting period
23
107,926
497,806
28

Local Economic Development Company {LEDCOM) Limited
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2023
l) Accounting Policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in
the preparation of the financial statements are as follows-.
31 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
1021 (effective l January 20191- (Charities SORP IFRS 1021, the Financial Reporting Standard applicable
in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
Local Economic Development Company {LEDCOMI 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 generatingfunds - rental Gnd sundry income
Rental income is received from tenants of the enterprise park. This is included in the Statement of
Financial Activities when receivable.
Training, seryice level agreements & community sUPPOrt programmes income
Income is received from various bodies in relation to furtherance of their objectives on an accru315
basis.
Gront5
Revenue grants are credited to incoming resources on the earlier date of when they are received or
when they are receivable, unles5 they relate to a specified 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 Attivities on an accru315 basis.
dl Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the charity,. this is normally upon notification of the interest paid or payable by the Bank.
29

Local Economic Development Company (LEDCOM) Limited
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2023
l) Accounting Policies- {continued)
el 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 basis consistent with use of the resources.
Charitable activities
These costs include direct expenditure relating to economic development and expenditure in
administration of the group,
Irrecoverable VA T
Any irrecoverable VAT is charged to the Statement of Financial Activities, or capitalised as 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 separatelyfrom 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.
f) Fund accounting
The group has various types of fund5 for which it is responsible and which require separate disclosure.
Definitions of the various types of funds are as follows:
Restrictedfunds
Restricted funds 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 5UPPOrt
cost5.
Generalfunds
General funds are donations and other incoming resources received or generated which are expendable
at the discretion of the cha rity in the furtherance of its objectives.
Designatedfunds
Designated funds comprise capital grants that have been expended for their restricted purpose.
30

Local Economic Development Company {LEDCOM) Limited
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2023
l) Accounting Policies- {continued)
gl 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
15 included in creditors falling due. The interest element 15 written of over the primary period.
All other leases are accounted for as operating leases and the rental charges are charged to the
statement of financial 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 cost less the expected residual value of the assets
over their estimated useful lives at the following annual rates:_
Plant and equipment
Office equipment
Motor Vehicles
10 - 20°A straight line
150A straight line
25% straight line
Revalued investment properties are not depreciated.
The carrying values of tangible fixed assets are reviewed for impairment when events or change5 in
circumstances indicate the carrying value may not be recoverable.
jl Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts 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 months or less from the date of acquisition or opening of the deposlt or similar
account.
11 Creditors and provisions
Creditors and provisions are recogni5ed 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.
31

Local Economic Development Company {LEDCOM) Limited
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2023
11 Accounting Policies- (continued)
ml Financial instruments
The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section
12 '0ther Financial Instruments155ue5' 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 financial assets, which include debtors. cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised 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. Financial 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 amortlsed.
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 as non current liabilities. Trade
creditors are recognised initially at transaction price and subsequently measured at amortised cost
using the effective interestmethod.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Charity's contractual obligations expire or are
discharged or cancelled.
ol Critical accounting estimate5 and judgements
In the application of the Charity's accounting policies, the Trustee5 are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily
apparent from other sources. The estimates and associated assumptions are based on historical
experience and other factors that are corbsidered to be relevant. Actual results may differ from these
estimate5.
32

Local Economic Development Company {LEDCOMI Limited
Company Limlted By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2023
l) Accounting Policies- (continued)
ol 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 affect5 both
current and future period5.
pl 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 given, equity instruments issued and liabilities incurred or
assumed, plus costs directly attributable to the business combination. The excess of the cost of a
business combination over the fair value of the identifiable assets, liabilities and contingent
liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated
amount of contingent consideration that is probable and can be measured reliably, and is adjusted
for changes in contingent consideration after the acquisition date. Provisional fair values recognised
for busines5 combinations in previous periods are adjusted retrospectively for final fair values
determined in the 12 months following the acquisition date. Investments in subsidiaries, joint
ventures and associate5 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 2023.li.e. entities that the group controls through it5
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 subsidiaries to bring their
accounting policies in line with the group's accounting policies.
All intra-group transactions, balances and unrealised gains on transactions between group companies
are eliminated on consolidation. Unrealised losses are also eliminated unle55 the transactions unless
the transaction provides evidence of an impairment of the asset transferred.
33

Local Economic Development Company {LEDCOM) Limited
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2023
2. Results for the year
Group
2022
Company
2022
2022
2022
This is stated after charging:
Staff costs Inote 31
Audit fees
Depreciation
312,772 322,527 310,101 322,527
7,540
7,540
7,540
7,540
26,330
23,526
26,330
23,526
Indemnity insurance for the Trustees was purchased by the charity during the year amounting
to £91712022: £9171
3. Employee information
Group
2023
Company
2023
2022
2022
Wages and salaries
Social security costs
Other pension costs
240,542 247,899 238,043 247.899
19,818
21,242
19,646
21,242
52,412
53,386
52,412
53,386
312.772 322.527 310,101 322,527
The average number of persons employed by the company (excluding Director51 during the
year was as follows..
Group
2023
Company
2023
2022
2022
Charitable activities
io
io
io
io
No employee falls in emoluments in the band £60,000-£69,999 excluding employer pension
contributions12022= 01.
One employee falls in emoluments in the band £70.000-£79,999 excluding employer pension
contributions12022.. 11.
The total employee benefits of the key management personnel of the Group was £168,024
12022: £191.0471.
Four charity trustees received payment for professional or other services supplied to the
charity totalling £2.938.7912022: three totalling £704.22).
34

Local Economic Development Company ILEDCOM} Limited
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2023
4. Donations and Legacies
Group
Company
2023
2022
2023
2022
Unrestricted
Donations
30,000
30,000
30,000
30,000
30,000
30,000
30,000
30,000
S. Income from other trading activities
Group
Company
2023
2022
2023
2022
Unrestricted
Rental income
Services Income
Business Consultancy & Sales
Sale of Assets
581,940
18,793
5,433
12,000
618,166
537,146 $81,940 537,146
20,851
18,793
20,851
12,000
612,733 557,997
557,997
35

Local Economic Development Company {LEDCOM} Limited
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2023
6. Income from Charitable Activities
2023
Total
Unrestricted Restricted
2022
Grou
Exploring Enterprise
Go for it
Co-lnnovate
ASK/Amplify
Kick Start
Fresh Frontiers
Wise
Optimal Programme
The Seed Formula
Spark
Department for Communities
Nl Explore Enterprise Support Service
Other
Sundry income
21,771
35,011
21,771
35,011
33,503
37,296
14.183
17,118
6,819
6,819
16,1351 16,135)
694
15,130
7,500
5,397
7,977
3,053
3,053
7,998
7,998
1,788
1,788
9,229
21,850
12,052
10,042
91,586 170,690
9,229
12.052
21,281
70.305
The 2022 total of £170,690 was split a5 £138,798 restricted and £31,892 unrestricted.
2023
Total
Unrestricted Restrirted
2022
Com
Exploring Enterprise
Go for it
Co-lnnovate
ASKIAmplify
Kick Start
Fresh Frontiers
Wise
Optimal Programme
The Seed Formula
Spark
Department for Communities
Nl Explore Enterprise Support Service
Other
Sundry income
21.771
35.011
21,771
35.011
33,503
37,296
14,183
17,118
6,819
6,819
(6,1351 {6,135)
694
15,130
7,500
5,397
7,977
3,053
3,053
7,998
7,998
1,788
1,788
9.029
21,850
12,052
10,042
91,386 170,690
9,029
12,052
21,081
70,305
The 2022 total of £170.690 was split as £138,798 restricted and £31,892 unre5trirted.
36

Local Economic Development Company (LEDCOMI Limited
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2023
7. Interest receivable
Group
Company
2023
2022
2023
2022
Interest receivable
5,951
178
5,951
178
Charitable Activities
Charitable
Activities
2023
Rental
Services
2023
Charitable
Activities
2022
Rental
Services
Total
2023
Total
2022
Grou
2022
Staff costs
Programme Direct costs
Advert15ing and marketing
Bank and103n interest
Establishment Costs
Depreciation
Other costs
Governance costs.-
Professional and legal fees
Audit & accountancy fees
30.224
31,780
3,526
282,548
312,772
31,780
3.526
37,668
106,880
26,330
45,408
64,701
59,086
10,071
257,826
322,527
59,086
10,071
6,875
161.935
23,526
34,426
37.668
106,880
26,330
40.633
6.875
161,935
23,526
29.486
4,775
4,940
20,236
10.910
525,205
20.236
10,910
595,510
7.539
12,609
499,796
7,539
12,609
638,594
70,305
138,798
Charitable
Activities
2023
Rental
Services
Charitable
Activities
2022
Rental
Services
2022
Total
2023
Total
2022
Com
2023
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
30.224
31,780
3,526
279,877
310,101
31.780
3,526
37,584
106,295
26,330
45,181
64,701
59,086
10,071
257,826
322,527
59.086
10,071
6,708
161,572
23,526
34.401
37.584
106,295
26,330
40.406
6.708
161,572
23,526
29,461
4,775
4,940
19,876
10,910
521,278
19,876
10,910
591,583
7,539
12,596
499.228
7,539
12,596
638,026
70,305
138,798
37

Local Economic Development Company ILEDCOM) Limited
Company Limited By Guarantee
Notes to the Financial Statements
Forthe year ended 30th September 2023
9. Analysis of charitable activities expenses
Unrestrirted Restricted
2023
2023
Total
2023
Unrestricted Restricted Total
2022
2022
2022
Grou
Staff cost5
Programme Direct costs
Advertising and marketing
Bank and loan interest
Insurance
Heat and light
Repairs
Cleaning
Rates
Telephone
Computer5
Depreciation
Bad debt provision/write off
General
Motor expenses
Donations
Governance costs..
Professional and legal fees
Audit & accountancy fees
282,548
30,224
31,780
3,526
312,772
31,780
3,526
37,668
14,147
38,735
58,087
5,932
11,782
16,399
2,592
26,330
140,794)
40,633
4,775
257,826
64,701 322,527
59,086
59,086
10.071
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
37,668
14,147
38,735
58,087
5,932
11,782
16,399
2,592
26.330
140,7941
40,633
6,875
11,865
48,466
56,715
3,574
9,717
17,208
3,752
23,526
10,638
29,486
4,775
4,940
20,236
10,910
525,205
20,236
10,910
595,510
7.539
12,609
499,796
7,539
12,609
138,798 638,594
70,305
38

Local Economic Development Company ILEDCOMI Limited
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2023
10. Analysis of charitable activities expense5
Unrestrirted Restricted
2023
2023
Total
2023
Unrestricted Restricted Total
2022
2022
2022
Com
Staff costs
Programme Direct costs
Advertising and marketing
Bank and loan interest
Insurance
Heat and light
Repairs
Cleaning
Rates
Telephone
Computers
Depreciation
Bad debt provisionlwrite off
General
Motor expenses
Governance costs..
Professional and legal fees
Audit & accountancy fees
279,877
30,224 310,101
31,780
31,780
3,526
3,526
37,584
13,607
38,735
58,087
5,932
11,782
16,399
2,547
26,330
{40,794)
40,406
4,775
257,826
64,701 322,527
59,086 59,086
10.071
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
37,584
13,607
38,735
58.087
5,932
11,782
16,399
2,547
26,330
140,7941
40,406
6,708
11,502
48,466
56,715
3.574
9,717
17,208
3,752
23.526
10,638
29,461
4,775
4,940
19,876
10,910
521,278
19.876
10,910
591,583
7.539
12,596
499,228
7.539
12,596
138,798 638,026
70.305
39

Local Economic Development Company ILEDCOM) Limited
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2023
11. Tangible Fixed Assets
Grou
Freehold
Property
Plant and
Office
equipment equipment
Motor Fixtures &
vehicles
Fittings
Total
Cost
At l October 2022
Additions
Disposals
Revaluation
At 30 September 2023
5.686,759
631.024
365,195
144,124
27,350
3,619
37,000
116,2221 1100,1011 125.7551
600 6,224.028
671,643
1142.0781
6,317,783
348,973
47.642
38,595
600 6,753,593
Accumulated depreciation
At l October 2022
Charge of the year
Depreciation on disposal
At 30 September 2023
1,643,187
280,937
139,613
27.313
20,377
2,528
3,425
116,2221 1100,1011 125.7551
285.092
42,040
4.983
600 2,091.650
26,330
1142,0781
600 1,975,902
1,643,187
Net book amount
At 30 September 2023
At 30 September 2022
4,674,596
4,043,572
63,881
84,258
5,602
4,511
33,612
37
4,777,691
4,132,378
Com
an
Freehold
Property
Plant and
Office
equipment equipment
Motor
vehicles
Total
Cost
At l October 2022
Additions
Disposals
Revaluation
At 30 September 2023
5.686.759
631,024
365,195
144,124
27,350 6,223,428
3.619
37,000 671,643
116,2221 1100,1011 125,755) 1142,0781
6,317.783
348,973
47,642
38,595 6,752.993
Accumulated depreciation
At l October 2022
Charge of the year
Depreciation on disposal
At 30 September 2023
1,643,187
280,937
139,613
27.313 2,091,050
20,377
2,528
3.425
26,330
116,2221 {100,1011 125,755) 1142,0781
285,092
42,040
4,983 1,975,302
1,643,187
Net book amount
At 30 September 2023
At 30 September 2022
4.674,596
4,043.572
63,881
84,258
5,602
4,511
33,612 4,777,691
37 4,132,378
The Freehold Properties were revalued in June 2021 by Osborne King. independent valuers not
connected with the charity on the basis of market value. The valuation conforms to International
Valuation Standards and was based on recent market transactions at arm's length for similar
properties.
40

Local Economic Development Company {LEDCOM) Limited
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2023
12. Investments
The company's principal trading subsidiaries are:
Country of
Name
incorporation
Business-Led INorthern Northern Ireland
Ireland) Limited
Heritage Experience
Limited
Principal
activity
Project Management
Company limited by
guarantee
Company limited by
guarantee
Northern Ireland
Video distribution
13. Debtors
Group
2023
Company
2023
2022
2022
Trade debtors
Amounts owed by subsidiary undertaking
Prepayments and accrued income
Other Debtors
40,608
58,709
40,608
33,705
33,553
60,211
168,077
58.709
33,455
51,397
33,553
60,211
134,372
51,397
110,106
143,561
Amounts owed by subsidiary undertaking are unsecured, interest free, have no fixed date of
repayment and are repayable on demand.
14. Creditors: falling due within one year
Group
2023
Company
2023
2022
2022
Trade creditors
Other taxation and social security
Accruals and deferred income
Bank loans
Other creditors
36,892
5,080
193,682
153,900
1,559
391,113
35,129
33,517
36,958
126,248
2,102
233.954
36,744
5,080
189,637
153,900
1,559
386,920
34.781
33,517
32,915
126,248
2,102
229,563
Amounts owed by subsidiary undertaking are unsecured, interest free, have no fixed date of
repayment and are repayable on demand.
Credltors: falling due more than one year
Group
2023
Company
2023
2022
2022
Bank loans
357.594
357,594
458.620
458,620
357,594
357,594
458,620
458,620
41

Local Economic Development Company ILEDCOM) Limited
Company Limited By Guarantee
Note5 to the Financial Statements
For the year ended 30th September 2023
15. Analysis of net assets between funds
Designated
funds
Restricted Economic
funds
Assets
General
fund5
Total
funds
2023
Grou
Tangible fixed assets
Net current assets
Creditors.. Falling due more than one year
Total
4,674,596
1273,4301
1357,S941
4,043,572
103,095 4,777,691
636,109
362,679
(357,5941
739,204 4,782,776
Designated
funds
Restricted Economic
funds
Assets
General
funds
Total
funds
2023
Com
an
Tangible fixed assets
Net current assets
Creditor5: Falling due more than one year
Total
4,674,596
1273,4301
1357,5941
4,043,572
103,095 4,777,691
671,753
398,323
{357,5941
774,848 4,818.420
Designated
funds
Restricted Economic
funds
Assets
General
funds
Total
funds
2022
Grou
Tangible fixed as5et5
Net current a55ets
Creditors.. Falling due more than one ye3r
Total
4,043,572
88.806 4,132,378
958,826
958,826
1458,6201 (458.620)
589,012 4,632,584
4.043,572
Designated
funds
Restricted Economic
funds
A55ets
General
funds
Total
funds
2022
Com
Tangible fixed assets
Net current assets
Creditors: Falling due more than one year
Total
4,043,572
88.806 4,132,378
996.175
996,175
1458,6201 (458,620)
626,361 4,669.933
4,043,572
Designated fund5- Economic A55et5, represent properties held by LEDCOM forthe purposes of
economic activity and to serve the small businesses and tenants of the organisation.
42

Local Economic Development Company (LEDCOMI Lirnited
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2023
16. Unrestricted funds
Designated
funds
Economic
Assets
General
funds
Total
funds
2023
Grou
At l October 2022
Net incoming/loutgoingl resources
Transfers Between Funds
Total
4,043,572
589,012 4,632,584
150,192
150,192
4,043,572
739,204 4,782,776
Designated
funds
Economic
A55ets
General
funds
Total
funds
Com
an
At l October 2022
Net incominglloutgoingl resources
Transfers Between Funds
Total
4,043,572
626.361 4,669,933
148,487
148,487
4,043,572
774.848 4,818,420
Designated
funds
Economic
Assets
General
funds
Total
funds
2022
Grou
At l October 2021
Net incoming/loutgoing} resources
Transfers Between Funds
Total
3,748,500
500,813 4,249,313
383,271
383,271
295,072 1295,0721
4,043,572
589,012 4,632,584
Designated
funds
Economic
Assets
General
funds
Total
funds
Com
an
At l October 2021
Net incominglloutgoingl resources
Transfers Between Funds
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
Designated funds- Economic Assets. represent propertie5 held by LEDCOM for the purposes of
economic activity and to serve the small businesses and tenants of the organisation.
43

Local Economic Development Company ILEDCOM) Limited
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2023
17. Restricted funds
Balance at
l October
2022
Transfer
between
funds
Balance at
30 September
2023
Incoming
resources
Outgoing
resources
Grou
and com
an
Exploring Enterprise
Go for it
ASK/Amplify
Fresh Frontiers
Optimal Programme
Spark
Nl Explore Enterprise Support Ser
21,771
35,011
6,819
16.1351
3,053
7,998
1,788
121,771}
135.0111
16,8191
6.135
{3,053)
17,9981
11,7881
70,304
170,3041
Balance at
l October
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 Communities
33,503
37.296
14,183
17,118
694
133.5031
137,2961
114,1831
117.1181
16941
115,1301
{7,5001
15,3971
17,9771
15,130
7,500
5,397
7,977
138.798
1138,7981
Each of these funds is described in detail in the Trustee's report.
44

Local Economic Development Company {LEDCOMI Limited
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2023
18. Taxation
The charitable company is a registered charity and as such is entitled to certain tax exemptions on
income and profits from investments, and surpluses on any trading activities carried on in furtherance
of the charity's primary objectives. if these prof its and surpluses are applied solely for charitable
purposes.
19. Contingent liability
There is a contingent liability to repay certain government grants if the charitable company fails to
honour certain undertakings and commitments. In the opinion of the Trustees the terms of letters
of offer have complied with and no loss is anticipated.
20. Liability of members
Local Economic Development Company ILEDCOMI 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 partytransactions and ultimate controlling party.
There is no ultimate controlling party. The company has taken advantages 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 within the group.
Financlal instruments
Group
Company
2023
2022
2023
2022
Financial assets that are measured at amortised cost
Cash and cash equivalents
Trade debtors
Amounts owed by subsidiary undertakings
Total
619,420 1.082,674
40,608
58,709
617,166 1.082,177
40,608
58,709
33,705
33,455
691,479 1,174,341
660,028 1,141.383
Group
Company
2023
2022
2023
2022
Financial liabilities that are measured at amortised cost
Bank loans
Trade creditors
Accrued expenses
Amounts owed to subsidiary undertakings
Total
511.494
36,892
193,682
584,868
35,129
36,958
511.494
36,744
189,637
584,868
34,781
32,915
742.068
656,955
737,875
652,564
45

Local Economic Development Company (LEDCOMI Limited
Company Limited By Guarantee
Notes to the Financial Statements
For the year ended 30th September 2023
22. Net cash generated from operating activities
2023
2022
Net incoming/loutgoingl resources
Depreciation
Interest payable and similar expenses
Interest receivable and similar income
IGainllLoss on revaluation of fixed assets
Movement in debtors
Movement in creditors lexcluding loans)
150,192 383.271
26,330
23,526
37,668
6,875
(5,951)
11781
1263,0001
(24,266} 113,7951
129,507
19,390
Net cash inflow from operating activities
313,480 156,089
23. Analysis of cash and cash equivalents
2023
2022
Bank
Bank Loans
619,420 1,082,674
1511.494) 1584,8681
107.926 497,806
46