REGISTERED COMPANY NUMBER: N1019910 (Northern Ireland)
REGISTERED CHARITY NUMBER: 103568
Report of the Trustee5 and
Unaudited Financial Statements
for the Year Ended 31 March 2024
for
SOUTHERN GROUP ENTERPIUSES 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 2024
Page
Report of the Trustees
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Notes to the Flnancial Statement5
9 to 15

SOUTHERN GROUP ENTERPRISES LIMITED (REGISTERED NUMBER: N1019910)
Report of the Trustees
FOR THE YEAR ENDED 31 MARCH 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with
the financial statements of the charity for the year ended 31 March 2024. The t￿Slee$ have adopted the provisions of
Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard appltcable in the UK and Republic of Ireland (FRS 102)
(effective l January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the chaTity are:
To enhance education, in particular for young people, by providing training faciltties for the acquisition and
development of occupational skills and work experience for periods in each case not nornially 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 defmed in the Charities Act. They have referred to the guidance contained in the Charity Commission's
general guidance on public benefit when reviewing the aims and objectives and in planning its activities.
The public putpose of Southern Group Enterprises Limited is to provide an educational programme, based on
occupational and essential skills, to those pupils at school who wish to opt out of the fonnal 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 is 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 lo¢al 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 obtaining a vocatÈonal 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
vocationauoccupational programmes is one that Southern Group Enterprises Limited see as a defming time of a young
person's life during which time their personalityiexpectations are deterniined and defined for later life. The public
purpose therefore is 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
becorne young adults displaying responsibility and self belief within themselves that originates through the acquisition of
skills attained within the educational programme.

SOUTHERN GROUP ENTERPRISES LIMITED {REGISTERED NUMBER: N1019910)
Report of the Trustees
FOR THE YEAR ENDED 31 MARCH 2024
ACHIEVEMENT AND PERFORMANCE
Charitable aetivities
The charity, in conjunction with schools within the Newry and Mourne education catchment area, provided vocational
training during the academic year to those pupils seeking an alternative option to the traditional education route of
learning.
The educational programmes, provided by the charity within a supported environment, gives students the opportunity to..
develop life long skills for independence
enable prO￿Ssion to other educational courses, training and employment
help to raise levels of achievement. and
develop transferable skills needed in an ever evolving work environment.
The academic year Saw over 80 S￿dellts from local schools engage in achieving vocational qualifications provided by
educational providers such as the City & Guilds and delivered at source by the charity. The success of the charity can be
Seen, not only in the tangible evidence of academic qualifications but also, in the transfonnation of the young students
belief in their own abRlity to set and achieve personal goals.The charity affords young students, on the basis of their
academic success, the opportunity to seek and develop careers in their chosen vocation and provide employers with a
workforce capable of meeting the demands of todays economy. Th¢ achievements of the charity's students reflects the
delivery of the aims of the charity in each and every subsequent academic year.
FINANCIAL REVIEW
Financial positio
The end of the year saw a result in which there was a demand upon the charity's fmancial resources and the results for
the year are set out in detail on pages 6 to 15. The company returned a deficit for the year of £4,389.
Principal funding sourees
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 objeetives
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 sutplus funds to invest,
these are 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 maintaining low transaction costs.
Reserves poliey
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 rnonths of the annual budgeted expenditure. Budgeted expenditure for
2023124 is approximately £265,000 and therefore the target is between £132,500 and £198,750 of general unrestri¢led
funds. The reserves are required to meet the worktng capital requirements of the chaTity. The charity recognised the
continued need of a fund 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 irnprovemeTht 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 improvernent of the charity's
land and buildings of £258,130.
Flee reserves at 31 March 2024 amount to £141,245, which fa115 short of the lower target figure of £165,625 for
unrestricted funds. In calculating reserves the designated fund (£258,130) and the net book value of fixed assets held
(£320,378) 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 arrangements.

SOUTHERN GROUP ENTERPRISES LIMITED (REGISTERED NUMBER: N1019910)
Report of the Trustees
FOR THE YEAR ENDED 31 MARCH 2024
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 Comrnission 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
ompany being wound up members are required to contribute an amount not exceeding £1.
Recruitment and appointment of new trustees
The directors of the company are also charity tn￿teeS 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 member5 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, tnjstees 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 foi election.
Induction and training of neiv trustees
New trustees ate briefed on their legal obligations under charity and company law, the content of the Memorandum and
Articles of Association, the committee and decision making processes, the business plan and recent financial
perforniance of the charity. They also meet other trustees and are encouraged to attend appropriate 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 ITeland)
Registered Charity number
103568
Registered office
Unit 22 Rampart Way
Greenbank Ind Estate
Warrenpoint Road
Newry
Co. Dow
BT34 2QU
Trustees
C P Bagnall Mobile Engineer
Ms M D M Coulter Solicitor
R G Coulter MBE Building Contractor
K McGivern Chartered Accountant
C O'Hare Administrative Officer
Company Secretary
Mrs B Rocks

SOUTHERN GROUP ENTERPRISES LIMITED (Rfi GISTERED NUMBER: N1019910)
Report of the Trustees
FOR THE YEI AR ENDED 31 MARCH 2024
REFERENCE AND ADMINISTRA TIVE DETAILS
Independent Examiner
Mr Conaill McGI'ady FCA
M.B.McGrady & Co
Charlei'ed Accountants
Rathmore House
52 St Patricks Avenue
Downpatrick
Co. Down
BT30 6DS
Solicitors
MDM Coulter
125 Harbour Road
Kilke¢l
Co.Down
BT34 4AT
This i-eporl has been prepared in accordance witli the special provisions of Part 15 of the Companies Act 2006 relatin8
to small companies.
Approved by order of the board of trustees on 25 June 2024 and signed on its behalf by:
Mi"5 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 2024, which are Set out on pages six to fifteen.
Respective responsibilities of charity trustees and examiner
As the charity's trustees (and also the directors for 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 unaer 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 procedures laid down in the general Directions given by the Charity Commission for Northern Ireland
under Section 65(9)(b) of the Charities Act
state whether particular matters have come to my attention.
Basis of the independent examiner's report
I have examined your charity accounts as required under Section 65 of the Charities Act and my examination was carried
out in accordance with the general Directions given by the ChaTity Cornmission for Northern Ireland under Section
65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a
comparison of the accounts presented with those records. It also included consideration of any unusual items or
disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters.
My role 15 to state whether any material matters 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 account5 do not accord with those accounting records
That the accounts do not comply with the accounting requirements of Section 396 of the Companies Act 2006
and with the methods and principles of the 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
That there is further infomlation needed for a proper understanding of the accounts to be reached.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can conf
that l am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in
Ireland which is one of the listed bodies.
I have completed my examination and have no Concerns in respect of the matters (l) to {4) listed above and,
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 McGr
FCA
The Institute of Chartered Accountants in Ireland
M.B.McGrady & Co
Chartered Accountants
Rathmore House
52 St Patricks Avenue
Downpatrick
Co. Down
BT30 6DS
25 June 2024

SOUTHERN GROUP ENTERPRISES LIMITED
Statement of Financial Activities
(Incorporating an Income and Expenditure Account)
FOR THE YEAR ENDED 31 MARCH 2024
3113124
Unrestricted
funds
3113123
Total
funds
Notes
INCOME AND ENDOWMENTS FROM
Charitable activities
Charitable activities
214,130
179,595
Investment income
Other income
10,530
33,153
4,146
19,903
Total
257,813
203,644
EXPEIYDITURE ON
Charitable activities
Charilable activities
262,202
163,629
NET INCOME/(EXPENDITURE)
(4,389)
40,015
RECONCILIATION OF FUNDS
Total funds brought forward
724,142
684,127
TOTAL FUNDS CARRIED FORWARD
719,753
724,142
The notes forni part of these fmancial statements

SOUTHERN GROUP ENTERPRISES LIMITED (REGISTERED NUMBER: N1019910)
Balance Sheet
31 MARCH 2024
3113124
Total
funds
3113123
Total
funds
Notes
FIXED ASSETS
Tangible assets
Investments
320,378
120
320,177
120
io
320,498
320,297
CURRENT ASSETS
Debtors
Cash at bank and in hand
35,599
372,163
29,728
381,266
407,762
410,994
CREDITORS
Amounts falling due within one year
12
(8,507)
(7,149)
NET CURRENT ASSETS
399,255
403,845
TOTAL ASSETS LESS CURRENT
LIABILITIES
719,753
724,142
NET ASSETS
719,753
724,142
FUNDS
Unrestricted ￿ThdS..
General fund
Revaluation Reserve
13
630,030
89,723
634,419
89,723
719,753
724,142
TOTAL FUNDS
719,753
724,142
The charitable company is entitled to exernption from audit under Section 477 of the Companies Act 2006 for the year
ended 31 March 2024.
The members have not required the company to obtain an audit of its fmancial statements for the year ended
31 March 2024 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 financial statements which give a true and fair view of the state of affairs of the charitable company as
at the end of each financial year and of its surplus or deficit for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act
2006 relating to financial statements, so far as applicable to the charitable company.
(b)
The notes form part of these fmancial 5tatenients
continued...

SOUTHERN GROUP ENTERPRISES LIMITED (REGISTERED NUMBER: N1019910)
Balance Sheet- eontinued
31 MARCH 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies
subject to the small ¢oinpanies regime.
The financial stateinents were approved and authorised for issue by the Board of Trustees and authorised for issue on
25 June 2024 and were signed on its behalf by:
us
ee
The notes form part of these financial statements

SOUTHERN GROUP ENTERPRISES LIMITED
Notes to the Finaneial Statements
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES
Basis of preparing the finaneial sta¢ements
The fmancial statements of the charitable company, which is a public benefit entity 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 Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),,
Financial Reporting Standard 102 'The Fknancial Reporting Standard applicable in the UK and Republic of
Ireland, and the Companies Act 2006. The fmancial staternents 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 financial perforniance
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 fvnds, it
is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expendityre as soon as there is a legal or constructive obligation committing the
charity to that expenditure, it is probable that 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 ThTite off each asset over its estimated use￿1
life.
Freehold property
Plant and machinery
Fixtures and fittings
Computer equipment
2.50/0 on cost
250/0 on cost
12.50/0 on cost
250/0 on cost
Taxation
The charity is exempt fr.om coryjoration tax Dn its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted thnds can only be used for particular restricted pU￿oseS Wkthin the objects of the charity. Restrictions
arise when specified by the donor or when ￿Thds are raised for particular restricted purposes.
Designated funds are unrestricted funds earnlarked by the tThstees for particular purpose's.
Further explanation of the natyre and pury)ose of each fund is included in the notes to the fmancial statements.
Pension costs and other post-retirement 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 - continued
FOR THE YEAR ENDED 31 MARCH 2024
INVESTMENT INCOME
3113124
Unrestricted
funds
3113123
Total
funds
Deposit account interest
10,530
4,146
OTHER INCOME
3113124
Unrestricted
funds
3113123
Total
funds
Other income
Canteen income
32,291
862
19,903
33,153
19,903
NET INCOME/(EXPENDITURE)
Net Resources are stated after chargingl(crediting)'.
2024
2023
Depreciation - owned assets
Independent examination fees
18,476
2,443
19,436
2,700
TRUSTEES, REMUNERA TION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended
31 March 2023.
Trustees, expenses
There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 M￿ch 2023.
io
continued...

SOUTHERN GROUP ENTERPRISES LIMITED
Notes to the Financial Statements- continued
FOR THE YEAR ENDED 31 MARCH 2024
STAFF COSTS
The average monthly number of employees during the year was as follows:
3113124
3113123
Administrative staff
No employees received ernoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
INCOME AND ENDOWMENTS FROM
Charitable activities
Charitable activities
179,595
Investment income
Other income
4,146
19,903
Total
203,644
EXPENDITURE ON
Charitable activities
Charitable activities
163,629
NET INCOME
40,015
RECONCILIATION OF FUNDS
Total fimds brought fO￿ard
684,127
TOTAL FUNDS CARRIED FORWARD
724,142
GOING CONCERN
The fmancial statements have been prepared on the assumption that the company is able to carry on tts business
as a going concern which the directors consider appropriate whilst having regard to the trading results of the
financial 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 its commitments for twelve months from the date of signing these fmancial
statements.
On this basis the directors consider it appropriate to prepare the financial statements on a going concem basis.
However should the company not be able to meet its commitments long terni 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 financial 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.
continued...

SOUTHERN GROUP ENTERPRISES LIMITED
Notes to the Financial Statements- Continued
FOR THE YEAR ENDED 31 MARCH 2024
TANGIBLE FIXED ASSETS
Fixtures
and
rittings
Freehold
property
Plant and
machinery
Computer
equipment
Totals
COST
At l April 2023
Additions
558,740
53,234
289,331
11,999
51,572
6,678
952,877
18,677
At 31 March 2024
558,740
53,234
301,330
58,250
971,554
DEPRECIATION
At l April 2023
Charge for year
239,903
13,968
53,234
289,153
1,676
50,410
2,832
632,700
18,476
At 31 March 2024
253,871
53,234
290,829
53,242
651,176
NET BOOK VALUE
At 31 March 2024
304,869
10,501
5,008
320,378
At 31 March 2023
318,837
178
1,162
320,177
io.
FIXED ASSET INVESTMENTS
Unlisted
investments
MARKET VALUE
At l April 2023 and 31 March 2024
120
NET BOOK VALUE
At 31 March 2024
120
At 31 March 2023
120
There were no investment assets outside the UK.
ii.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
3113124
3113123
Trade debtors
Prepaytnents and accrued income
34,229
1,370
28,392
1,336
35,599
29,728
12
continued...

SOUTHERN GROUP ENTERPRISES LIMITED
Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
3113124
3113n3
Accruals and deferred income
8,507
7,149
13.
MOVEMENT IN FUNDS
Net
mov¢n)ent
in funds
At
3113124
At 114n3
Unrestricted funds
General ￿nd
Revaluation Reserve
634,419
89,723
(4,389)
630,030
89,723
724,142
(4,389)
719,753
TOTAL FUNDS
724,142
(4,389)
719,753
Net movement in fimds, included in the above are as follows..
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
257,813
(262,202)
(4a89)
TOTAL FUIYDS
257,813
(262,202)
(4,389)
Comparatives for movement in funds
Net
movement
in funds
At
3113123
At 114122
Unrestrieted funds
General fund
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
13
continued...

SOUTHERN GROUP ENTERPRISES LIMITED
Notes to the Financial Statements- Continued
FOR THE YEAR ENDED 31 MARCH 2024
13.
MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows..
Ineoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General ￿lld
203,644
(163,629)
40,015
TOTAL FUNDS
203,644
(163,629)
40,015
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
in funds
At
3113124
At 114n2
Unrestricted funds
General fund
Revaluation Reserve
594,404
89,723
35,626
630,030
89,723
684,127
35,626
719,753
TOTAL FUNDS
684,127
35,626
719,753
A current year 12 months and prior year 12 months combined net movement in funds, included in the above ale
as follows..
Incoming
resources
Resources
expended
Movement
in funds
Unrestrieted funds
Generdl fund
461,457
(425,831)
35,626
TOTAL FUNDS
461,457
(425,831)
35,626
14
continued...

SOUTHERN GROUP ENTERPIUSES LIMITED
Notes to the Financigl Statements- continued
FOR THE YEAR ENDED 31 MARCH 2024
14.
RELATED PARTY DISCLOSURES
There were no related paty transactions for the year ended 31 March 2024.
15.
COMPANY LIMITED BY GUARAINTEE
The Company is limited by guarantee and therefore has no share capital.
15