REGISTERED COMPANY NUMBER: N1019910 (Northern Ireland)
REGISTERED CHARITY NUMBER: 103568
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 March 2023
for
SOUTHERN GROUP ENTERPRISES LIMITED
M.B.McGrady & Co
Chartered Accountants
Rathmore House
52 St Patricks Avenue
Downpatrick
Co. Down
BT30 6DS

SOUTHERN GROUP ENTERPRISES LIMITED
Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2023
Page
Report of the Trustees
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
8 to 14

SOUTHERN GROUP ENTERPRISES LIMITED (REGISTERED NUMBER: N1019910)
Report of the Trustees
FOR THE YEAR ENDED 31 MARCH 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with
the f￿anCIal statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of
Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their
accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
(effective l January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the charity are:
To enhance education, in particular for young people, by provlding training facilities for the acquisition and
development of occupational skills and work experience for periods in each case not nomially exceeding two years.
The main objectives for the year continue to be focused on the provision of community based training.
Public benefit
The trustees are confident that the charitable aims of Southern Group Enterprises Limited satisfy the principles of public
benefit as deftned in the Charities Act. They have referred to the guidance contained in the Charity Commission's
general 8uidanc¢ on public benefit when reviewing the aims and objectives and in planning its future activities.
The public purpose of Southern Group Enterprises Limited 15 to provide an educational programme, based on
occupational and essential sktlls, to those pupils at school who wish to opt out of the fornial academic route. The target
group are those pupils who at the age of fourteen to sixteen are seeking an alternative educational system that challenges
them to develop and demonstrate their individual capabilities and creative skills. The provision of the
vocationavoccupational programmes provided by Southern Group Enterprises Limited i5 an extension to the secondary
level of the mainstream educational system. The benefit of this is two fold in that it enhances and supports the career
departments within the local schools by providing the opportunity for work related training for pupils during school time
and secondly the beneficiaries, the pupils, gain through maximising their potential through obtaRning a vocational Career
and the feeling of self esteem and respect from this achievement, attaining relevant academic and vocational
qualifications but also developing life skills both at a personal and social level. The age at which pupils enter the
vocationavoccupational programmes is one that Southern Group Enterprises Limited see as a deftntng time of a young
person's life during which time their personalitylexpeclations are detern]ined and defmed for later life. The public
purpose therefore ts the starting point under which education can provide a stable environment and base for each young
person going forward. As for the community the benefit derived is that upon entering society at large the pupils have
become young adults displaying responsibility and self belief within thentselves that originates through the acquisition of
skills attained within the educational programme.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The end of the year saw a result in which there was a dernand upon the charity's fmancial resources and the results for
the year are set out in detail on pages 5 to 14. The company returned a surplus for the year of £40,015.
FINANCIAL REVIEW
Principal funding sources
The main source of funding is derived from the provision of training under the STEPS and VEP programmes. The
charity provides these services directly to the local schools, ultimately the funding is provided by the Southern Education
& Library Board.
Investment policy and objectives
Under the Memorandum and Article of Association, the charity has the power to invest in any way the trustees wish.
However in fonnulating an investment policy, the charity has recognised that whilst it may have surplus funds to invest,
these ale likely to be called upon in the short tenn. The policy is to maintain high levels of capital security by
minimising interest rate risk, maximising returns and liquidity and maintainlng low transaction costs.

SOUTHERN GROUP ENTERPRISES LIMITED {REGISTERED NUMBER: N1019910)
Report of the Trustees
FOR THE YEAR ENDED 31 MARCH 2023
FINANCIAL REVIEW
Reserves policy
The Management Committee have examined the charity's requirements for reserves in light of the main risks to the
organisation. A policy has been established whereby unrestricted funds not committed or invested in tangible assets held
by the charity should be between 6 and 9 months of the armual budgeted expenditure. Budgeted expenditsJr¢ for
2022123 is approximately £255,000 and therefore the target is between £127,500 and £191,250 of general unrestricted
funds. The reserves are required to meet the working capital requirements of the charity. The charity recognised the
continued need of a ￿lld to both refurbish and make improvements to their land and buildings. As such a designated
fund of £550,000 was set aside for the redevelopment and improvement of the charity's property. To date an amount of
£291,870 of this fund has been used leaving designated funds for the redevelopment and improvement of the charity's
land and buildings of £258,130.
Free reserves at 31 March 2023 amount to £145,835, which falls short of the lower target figure of £159,375 for
unrestricted funds. In calculating reserves the designated fund (£258,130) and the net book value of fixed assets held
(£320,177) have been excluded. Although the strategy is to continue to build reserves, the Management Committee is
aware that it is unlikely that the target can be reached for a number of years.
The charity plans to continue the objectives and activities outlined above, subject to satisfactory funding arrangement5.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The company was incorporated on 22 October 1986 as a charitable company limited by guarantee. and also received
charitable status from HM Revenue & Customs. The company was registered with the Charities Con]mission in Northern
Ireland on 16 December 2015. The company was established under a Memorandum of Association which established
the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the
company being wound up member5 are required to contribute an amount not exceeding £1.
Recruitment and appointment of new trustees
The directors of the company are also charity trustees for the purposed of charity law and under the company's Articles
are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of
Association the members of the Management Committee are elected to serve for a period of three years after which they
must be re-elected at the next Annual General Meeting.
Due to the nature of the charity's work the trustees seek to ensure that these needs are appropriately reflected through the
diversity of the trustee body. To enhance the potential pool, trustees are requested to provide a list of their skills (and
update it each year) and in the event of particular skills being lost due to retirement, individuals are approached to offer
themselves for election.
Induction and training of new trustee5
New trustees are briefed on their legal obligations under charity and company law, the content of the Memorandum and
Articles of Association, th¢ committee and decision making processes, the business plan and recent fmancial
performance of the charity. They also meet other trustees and are encouraged to attend appropi'iate external training
events where these will facilitate the undertaking of their role.
All trustees are already familiar with practical work of the charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
N1O19910 (Northern Ireland)
Registered Charity number
103568

SOUTHERN GROUP ENTERPRISES LIMITED (REGISTERED NUMBER: N1019910)
Report of the Trustees
FOR THE YEAR ENDED 31 MARCH 2023
Registered office
Unit 22 Rampart Way
Greenbank Ind Estate
Warrenpoint Road
Newry
Co. Down
BT34 2QU
Trustees
C P Ba￿all Mobile Engineer
Ms M D M Coulter Solicitor
R G Coult¢r MBE Building Contractor
P G Duffji Retired Accountant (resi￿ed 251712022)
K McGivern Chartered Accountant
C O'Hare Administrative otficer
Company Secretary
Mrs B Rocks
Independent Examiner
Mr Conaill McGrady FCA
M.B.McGrady & Co
Chartered Accountants
Rathmore House
52 St Patricks Avenue
Downpatrick
Co. Down
BT30 6DS
Solicitors
MDM Coulter
125 Harbour Road
Kilkeel
Co.Down
BT34 4AT
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating
to small companies.
Approved by order of the board of trustees on 26 June 2023 and signed on its behalf by:
Mrs B Rocks - Secretary

Independent Examiner's Report to the Trustees of
Southern Group Enterprises Limited (Registered number: N1019910)
I report on the accounts of the company for the year ended 31 March 2023, which are set out on pages five to fourteen.
Respective responsibilities of charity trustees and examiner
As the charity's trustees (and also the directors foi. the purposes of company law) you are responsible for the preparation
of the accounts in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent
examination, it is my responsibility to:
examine the accounts under Section 65 of the Charities Act
follow the pi'ocedures laid down in the general Directions given by the Charity Commission for Northern Ireland
under Section 65(9)(b) of the Chariti¢s Act
state whether particular matters have come lo my attention.
Basis of the independent examiner's report
have examined youi. charity accounts as required under Section 65 of the Charities Act and my examination was carried
out in accordance with the genei'al Directions given by the Charity Commission for Northern Ireland under Section
65(9)(b) of the Cl)arities Act. The examination included a review of the accounting records kept by the charity and a
comparisoii of the accounts presented with those recoi'ds. It a150 included consideration of any unusual items or
disclosures in the accounts, and seeking explanations from you as charity Irustees concerning any such mattel's.
My role is to state whether any material matteiB have come to my attention giving me cause to believe..
That accounting records were not kept in accordance with Section 386 of the Companies Act 2006
That the accounts do not accord with those accounting records
That th¢ accounts do not comply with the accounting r¢quir¢ments of Section 396 of the Companies Act 2006
and witl) the inethods and principles of the Charities Statement of Recommended Practice applicable to charities
prepai-ing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic
of Ireland
That tliere is further information needed for a proper understanding of the accounts to be reached.
Independent examiiier's statement
I have completed my examination and have no concerns in respect of the matters (l) to (4) listed above and. in
connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that
require drawing to your attention.
Mr Conaill Mc
M.B.McGrady &
Chartered Accountants
Rathmore House
52 St Patricks Avenue
Downpatrick
Co. Down
BT30 6DS
26 June 2023

SOUTHERN GROUP ENTERPRISES LIMITED
Statement of Financial Activitie5
(Ineorporaling an Ineome and Expenditure Account)
FOR THE YEAR ENDED 31 MARCH 2023
3113123
Unrestrieted
funds
3113122
Total
funds
Notes
INCOME AND ENDOWMENTS FROM
Charitable activities
Charitable activities
179,595
189,217
Investment income
Other income
4,146
19,903
357
22,690
Total
203,644
212,264
XPEIYDITURE ON
Charitable activities
Charitable activities
163,629
263,025
NET INCOMEI(EXPENDITURE)
40,015
(50,761)
RECONCILIATION OF FUNDS
Total funds brought forward
684,127
734,888
TOTAL FUNDS CARRIED FORWARD
724,142
684.127
The notes form part of these fmancial statements

SOUTHERN GROUP ENTERPRISES LIMITED (REGISTERED NUMBER: N1019910)
Balanee Sheet
31 MARCH 2023
3113123
Total
funds
3113122
Total
funds
Notes
FIXED ASSETS
Tangible assets
Investments
320,177
120
384,781
120
io
320,297
384,901
CURRENT ASSETS
Debtors
Cash at bank and in hand
29,728
381,265
23,462
287,351
410,993
310,813
CREDITORS
Amounts falling due within one year
12
(7,148)
(11,587)
NET CURRENT ASSETS
403,845
299,226
TOTAL ASSETS LESS CURRENT
LIABILITIES
724,142
684,127
NET ASSETS
724,142
684,127
FUTr4DS
Unrestricted funds:
General fund
Revaluation Reserve
13
634,419
89,723
594.404
89,723
724,142
684,127
TOTAL FUNDS
724,142
684,127
The Charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year
ended 31 March 2023.
The members have not required the company to obtain an audit of its fmancial statements for the year ended
31 March 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a)
ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the
Companies Act 2006 and
preparing fmancial statements which give a true and fair view of the state of affairs of the charitable company as
at ihe end of each fmancial year and of its surplus or deficit for each fmancial year in accordance with the
requirements of Sections 394 and 395 and which othenvise comply with the requirements of the Companies Act
2006 relating to fmancial statements, so far as applicable to the charitable company.
(b)
The notes fonn part of these fmancial statements
continued...

SOUTHERN GROUP ENTERPRISES LIMITED (REGISTERED NUMBER: N1019910)
Balance Sheet- eontinued
31 MARCH 2023
These fmancial statements have been prepared in accordance with the provisions applicable to charitable companies
subject to the small companies regime.
The fmancial stateinents were approved and authorised for issue by the Board of Trustees and authorised for issue on
26 June 2023 ati
were signed on ils beh
f by:
The notes form part of these f￿anCial statements

SOUTHERN GROUP ENTERPRISES LIMITED
Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2023
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entlty under FRS 102, have been
prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement
of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),,
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland, and the Companies Act 2006. The fmancial statements have been prepared under the historical cost
convention, with the exception of investments which are included at market value.
The date of transition to FRS 102 was l April 2016. The reported fmancial position and fmancial perfonnance
for the previous period are not affected by the transition to FRS 102.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it
is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the
charity to that expenditure, it is probable ihat a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has
been classified under headings that aggregate all cost related to the category. Where costs cannot be directly
attributed to particular headings they have been allocated to activities on a basis consistent with the use of
resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.
Freehold property
Plant and machinery
Fixtures and fittings
Computer equipment
2.50/0 on ¢ost
250/0 on cost
12.50/0 on cost
250/0 on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objecls of the charity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.
Designated funds are unrestricted funds eamiarked by the trustees for particular purpose's.
Further explanation of the nature and purpose of each fund is included in the notes to the fmancial statements.
Pension eosts and other post-retirem¢nt benefits
The Charitable company operates a defmed contribution pension scheme. Contributions payable to the charitable
company's pension scheme are Charged to the Statement of Financial Activities in the period to which they relate.
continued...

SOUTHERN GROUP ENTERPRISES LIMITED
Notes to the Financial Statements- eontinued
FOR THE YEAR ENDED 31 MARCH 2023
INVESTMENT INCOME
3113123
Unrestricted
funds
3113122
Total
fund5
Deposit account interest
4,146
357
OTHER INCOME
3113123
Unrestrieted
funds
3113122
Total
funds
Other income
Canteen income
19,903
22,591
99
19,903
22,690
NET INCOME/(EXPENDITURE)
Net Resources are stated after charginW{crediling):
2022
2021
Depreciation - owned assels
Independent examination fee5
Auditor's remuneration
19,436
2,700
21,931
2,880
TRUSTEES, REMUNERATION AND BENEFITS
There were no truslees, remuneration or other benefits for the year ended 31 March 2023 nor for the year ended
31 Mai'ch 2022.
Trustees, expenses
There were no trustees, expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
continued...

SOUTHERN GROUP ENTERPRISES LIMITED
Notes to the Finaneial Statements- continued
FOR THE YEAR ENDED 31 MARCH 2023
STAFF COSTS
The average monthly number of employees during the year was as follows:
3113123
3113122
Administrative staff
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
INCOME AND ENDOWMENTS FROM
Charitable activities
Charitable activities
189,217
Investment income
Other income
357
22,690
Total
212,264
EXPENDITURE ON
Charitable activities
Charitable activities
263,025
NET INCOME/(EXPENDITURE)
(50,761)
RECONCILIATION OF FUNDS
Total funds brought fonvard
734,888
TOTAL FUNDS CARIUED FORWARD
684,127
GOING CONCERN
The fmancial statements have been prepared on the assumption that the company is able to carry on its business
as a going concern which the directors consider appropriate whilst having regard to the trading results of the
fmancial year.
Although the company's core activity has increased in line with expectations all costs have been minimalised and
due to its reserves it is able to meet ils commitments for tyvelve months from the date of signing these financial
statements.
On this basis the directors consider it appropriate to prepare the fmancial statements on a going concern basis.
However should the company not be able to meet its commitments long term the going concern basis used in
preparing the company's financial statements may be invalid and adjustments would have to be made to adjust
the value of its assets to their realiable amount and to provide for any further liabilities which may arise.
The fmancial statements do not include any adjustment to the company's assets or liabilities that might be
necessary should this basis not continue to be appropriate.
io
continued...

SOUTHERN GROUP ENTERPRISES LIMITED
Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023
TANGIBLE FIXED ASSETS
Fixtures
and
rittings
Freehold
property
Plant and
machinery
Computer
equiptnent
Totals
COST
At l April 2022
Disposals
669,966
(111,226)
53,234
289,331
51,572
1,064,103
(111,226)
At 31 March 2023
558,740
53,234
289,331
51,572
952,877
DEPRECIATION
At l April 2022
Charge for year
Eliminated on disposal
289,001
16,960
(66,058)
53,234
288,966
187
48,121
2,289
679,322
19,436
(66,058)
At 31 March 2023
239,903
53,234
289,153
50,410
632,700
NET BOOK VALUE
At 31 March 2023
318,837
178
1,162
320,177
At 31 March 2022
380,965
365
3,451
384,781
io.
FIXED ASSET INVESTMENTS
Unlisted
investments
MARKET VALUE
At l April 2022 and 31 March 2023
120
NET BOOK VALUE
At 31 March 2023
120
At 31 March 2022
120
There were no investment assets outside the UK.
ii.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
3113123
3113122
Trade debtors
Prepayments and accrued income
28,392
1,336
23,462
29,728
23,462
continued...

SOUTHERN GROUP ENTERPRISES LIMITED
Notes to the Finaneial Statements - eontiy)u¢d
FOR THE YEAR ENDED 31 MARCH 2023
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
3113123
3113122
Trade creditors
Accruals and deferred income
2,812
8,775
7,148
7,148
11,587
13.
MOVEMENT IN FUNDS
Net
movement
in funds
At
3113n3
At 114122
Unrestrieted funds
General thnd
Revaluation Reserve
594,404
89,723
40,015
634,419
89,723
684,127
40,015
724,142
TOTAL FUNDS
684,127
40,015
724,142
Net movement in funds, included in the above are as follows:
Incoming
resource5
Resources
expended
Movement
in funds
Unrestricted funds
General fund
203,644
(163,629)
40,015
TOTAL FUNDS
203,644
(163,629)
40,015
Comparatives for movement in funds
Net
movement
in funds
At
3113122
At 114lll
Unrestricted funds
General fund
Revaluation Reserve
645,165
89,723
(50,761)
594,404
89,723
734,888
(50,761)
684,127
TOTAL FUNDS
734,888
(50,761)
684,127
12
continued...

SOUTHERN CROUP ENTERPRISES LIMITED
Notes to the Financial Statement5- continued
FOR THE YEAR ENDED 31 MARCH 2023
13.
MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
Incoming
resource5
Resources
expended
Movement
in funds
Unrestrieted lunds
General fund
212,264
(263,025)
(50,761)
TOTAL FUNDS
212,264
(263,025)
(50,761)
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
in funds
At
3113123
At 114121
Unrestricted funds
General fund
Revaluation Reserve
645,165
89,723
(10,746)
634,419
89,723
734,888
(10,746)
724,142
TOTAL FUNDS
734,888
(10,746}
724,142
A current year 12 months and prior year 12 months combined net movement in ￿nds, included in the above are
as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General ￿Thd
415,908
(426,654)
(10,746)
TOTAL FUNDS
415,908
(426,654)
(10.746)
13
continued...

SOUTHERN GROUP ENTERPRISES LIMITED
Notes to th¢ Financial Statements- continued
FOR THE YEAR ENDED 31 MARCH 2023
14.
RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
15.
COMPANY LIMITED B Y GUARANTEE
The Company is limited by guarantee and therefore ha5 no share capilal.
14