GLENSHANE COMMUNITY DEVELOPMENT LIMITED
COMPANY LIMITED BY GUARANTEE
TRUSTEES. ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT)
(¢onUnued)
YEAR ENDED 310ECEMBER 2022
Slructurn, governance and management
The charty is a charitable company limiled by guarantee.
The cornpany is govemed and managed by the board of directors. The directors who served the
company throughout the year are shown on page 1, together w¢ih details of the registered office and
other professional advisors.
The board of directors earry oth their govemance role throughout the year by way of meetings on
monthly basis to review the performance of the company and to make d￿lS1on$ regarding ihe
company's financial and operational matters. The directors govern the &tivities of the company in line
with the objeclives set out in the goveming documents of the charity. namely the Mernrandum and
Articles of Association and the charty's constiiutFOn.
Objectives and activitie5
The principal objectives and activities of the charity during the year continued to be the Creation of
additional employment opportunities in Oungiven ar¥a the surrounding areas through the 5Y¢)vision of
workspace units to local enterprises al commercialty competitive rates and provlding opportunities for
further education to the local community. They also delivered various social and cuttural based
programmes with the assistance of partial govemmenl funding.
During the year. the charity cariied out a number of xtivities and projects in the furtherance of its
objectives-
l. Rentsl of ccmnmercial propety to local entery)rises and srnall businesses
2. Advice services
3. Heallh and wellbeing project
4. Age friendly projects
S. Cultural awareness projects
6. Good ielations projects
7. Education. training and courses
Achievements and perforniance
The main achievements of the charity during the year weré as follo*s:
1. Continued lo manage 48,C(10 square feet of workspace in an economically disadvantaged area
providing local employment opportunities and achieving 90Yo occupancy and 7,000 square feet of
heritage building for commerci81 purposes
2. Offering a wide variety of educational courses.
3. Provision of an adviGe seNKe during the financial year.
4. The directors are satisfied thal the performance of the company during the year. in terms of both
financial and operalional results. is in line with the ¢harity's constitution and key objedive5.
Financial review
The Trustees consider the financial results to be satisfactory. The net incoming resources for the year
amounted to £89,574 of which {E85) was restricted and E89.659 was un￿strIcted. {2021-net incorning
resources £542.751 of which {£3.935) was restricted and £546,686 was unrestricled).
The total reserves al Ihe year-end amounted at £3.566.444 (2021- £3,476.870}. The trustees have a
target of 1 years outgoings together with a propety repair fund of £100,000.

GLENSHANE COMMUNITY DEVELOPMENT LIMITED
COMPANY LIMITED BY GUARANTEE
TRUSTEES. ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT)
(continuedj
YEAR ENDED 31 DECEMBER 2022
Plans for future periods
The management and toard have ring fenced £200,000 for the following projects-
Preparatory work on an innovative Digital Hub at 72 Main Streel. Dungiven.
Exlension of the &gfé al 74 Main Streel. Dungiven.
Renovation Works at Glenshane Enterprise Centre and Glenshane Business Park.
The trustees will continue to govern the company in line with Ihe constitution in ¢Nder to achieve the
objeclives noted above.
Trustees, r•sponsibilities statement
The trustees. who are also diredors for the purposes of company law. are responsible for preparing
the trustees. report and th8 financial ststements in accordance with applicable law and United
Kingdom Accounting StarKlards (United Kingdom Generally Accepted Accounting Practice).
Company law requires Ihe charity trustees lo prepa￿ financial stalements for each year which give
true and fair view of the state of affairs of the charitable company and the incoming resources and
application of resources. including the income and eXpe￿IllUre. for thal peri¢Jd.
In preparing these financial slatements. the trustees are required lo:
select suitable accountin9 policies and then apply Ihem ￿nSIstenuy.
observe the methods and principles in Ihe applicable Charities SORP;
make judgments and accounting estimales Ihat are reasonab￿ and prudent:
prepare the financial staiemènts on the going c0￿M basis unless li is inappropriate lo presume
thal Ihe charity will continue in business.
The tnjstees are respmsible for keeping adequate accounting records that are sufficient to show and
explain the charivs transactions and disclose with reasc*iable accuracy at any time the financial
position of the charity and enable Ihem to ensure that the financial slatements comply with the
Companies Act 2006. They are also responsible for safeguarding ihe assets of the charity and hence
for takin9 reasonable steps for the prevention and detection of fraud and othef Ifregularilies.
Auditor
Each of the persons who is a Irustee at Ihe date of approval of this rep)rt confirnis that:
so far as Ihey are aware, there is no relevant audit infonnation of which the charilys auditor is
unaware.. and
they have taken all sleps that they ought to have taken as a trustee to make themsefves aware of
any relevant audit information and to esiablish that the chariws auditor is aware of that
infomiation.
Small company provisions
This report has been prepared in accordance the provisions applicable lo companies entilled to
the small companles exemption.
The Irustees. annual reM was approved on 27 September 2023 and signed on behalf of the board of
trustees by:
Mr C M¢Nicholl
Truslee
Mr A Farren
Trustee

GLENSHANE COMMUNITY DEVELOPMENT LIMITED
COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GLENSHANE
COMMUNITY DEVELOPMENT LIMITED
YEAR ENDED 31 DECEMBER 2022
Oplnlon
We have audited the financial statemènts of Glenshane C(xrtmunty Development Limrted (the
'charity'l for the year ended 31 December 2022 which comprise the statement of f1nancial activlties
(including income and expenditu￿ account). statement of financial position, statemenl of cash flows
and Ihe related notes, including a summary of significant accounting policies. The financial reporting
frarnework that has been applied in their preparation is applicable law and United Kingdorn Accounling
Standards. including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of
lfylard {United Kingdom Generalty Accepted Accounting Praclice).
This report is made solety to the charty's members, as a body, in accordance with Chapier 3 of Part
16 of the Companies Act 20CE. Our audii work has been undertaken so that we rnight state lo the
harity's members those matter5 are required to Stale to them in an auditorfs report and for no
other purpose. To the fullest ex1enl perniitted by law. we do not accept or assume responsibility to
anyone other than the charity and the charity's members as a body, for our audit work. for this report.
or fix the opinions we have fNmed.
In our opinion the financial statements:
give a true and fair view of the state of the charity's affairs as at 31 December 2022 and of its
incorning resources and application of resources, including its income and expendrture, for the
year then ended..
have been property p￿pared in accordance with United Kingdom Generally Accepted
Accounting Practice:
have been p￿Pared in a¢cordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in acc(Ydance with Intemational Stsndards on Auditing (UK) {ISAs {UK)) and
applicable law. Our responsibilities under Ihose standards are further described in the auditofs
responsibilities for the audit of the financial statements section of our report. We are independent of
the charity in accordance with the ethical requirements that are relevant to Our audit of the financial
staternen15 in the UK. including Ihe FRC'S Ethical Standard. and we have fulfilled our other ethi￿1
sponsibilities in accordance with these wuirements. We believe that the audit evidence we have
obtained is sufficienl and appropriate to provide a basis for our opinion.
Conclusions relating to going Concern
In auditing the financial statements. we have concluded that the trustees. use of the going concem
basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfo￿. we have not identified any material uncertainties relating to
events or conditions that, individually or Collectively, may cast sgnificanl doubl on the charity's ability
to continue as a going concern for a period of at least twelve months from when the financial
siatements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with resFeCt to going concern are deSCr￿ed
in the ￿leVant sections Of this rerM)rt.

GLENSHANE COMMUNITY DEVELOPMENT LIMITED
COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GLENSHANE
COMMUNITY DEVELOPMENT UMITED (contln(
YEAR ENDEO 31 DECEMBER 2022
Other infomiation
The other infomialion comprises the informatK>n included in the annual report, other than the financial
staternenls and wr audilor's report thereon. The trustees are responsible for other infomiation.
Our opinion on Ihe financial stalements does not cover the other infoTmalTron and. except to the extent
othephiise expltcilty stated in our rewrt. we do not express any ftym of assurance wnclusion thereon.
In connection with our audrt of the firk2ncial stalements. wr responsibility is to read the olher
infomiation and. in doing so, consider vthether ItrE other in1ormal￿n ts materially Ir￿￿$1StenI w￿h the
financial slatements or our knowled3e obtained in the audit or othep+4ise appears to be malerialty
rntsslaled. If we identfy such material inconsistencies or apparent material misstalements. we are
required to detemine whether there bs a material misstatement in the financial stslements or a
rnaterial misstatement of the other inftxmation. If. based on Ihe work we have perfonTÉd. we conclude
that there is a material misststernent of this other information. we are required to report that fact.
We have nothing to rep)rt in Ihis regard.
Opinions on olher matters prescrlbed by Ihe Companles Act 2006
In our opinion. based on Ihe work undertaken in the course of the audil:
the infomiats.on given in the trustees. report for the financial year ft)r which the fina￿la1
statemenls are prepared is consislent wrth the financial statements.. and
the truslees. rep)rt has been prepared in accordance wrth applic4ble legal requirement5.
Matters on which we are required to report by exc•ption
In the light of the knowledge and understsnding ol the charty arKI its environmenl oblained in the
course of the audit. we have rK)t ￿entIr￿d malerial misstaten*nts in Ihe IfUStees' report.
We have I￿hing to reF•)rt in respect of Ihe folknving matters in relation lo which the Companies Act
20Cb requires us to ￿port to you rf. in oui opinion:
adequate accounb'ng records have not been kepi. or retums adequate for our audit have not
been received from branches not visited by us; c
the financial statements are not in agreemenl with the accounting reccyds arrfl retums; or
certain disclosures of Irustees. remuneration specrfied by law are not made.. or
we have not received all the information and explanations we require lor our audrt: or
the trustees were not entitled to prepare the financial slatements in accordan￿ with Ihe small
companES regime and take advantage of the small companes, exemptions in preparing the
diredors. repNI and from the requirement to prepare a slrategic report.
Responsibllltles of trustees
As explained rn0￿ fulty in Ihe trustees. ￿spOnsIbl1]t1es staternenl, Ihe trustees (who are also the
directors for the purposes of company law) are responsible for the preparation of the financial
staternenls and for teing satiSf￿d Ihat they give a true and fair view. and for such intemal control as
the trustees delermine is necessary io enable the preparation of financial statements that are free
from material misstatement, whether due lo fraud or err¢x.
In preparing the financial statements, the trustees are responsible for assessing the charity's ats'lity to
cC￿tinue as a going concern, disclosing. as applicable. matters related to 90ing concem and usin9 the
going concern basis of aCC￿n11n9 unless Ihe twstees eithef intend to liquidate the charity or to cease
operations. or have no realistic allemative but to do so.