Ballymcna North Partnership Ltd Trustees, Report The trustees, who are directors for the purposes of company law, present the annual report together with the financial 5tatemcnts and auditors, report of the charitable company for the year ¢nd¢d 31 March 2024. Objectives and activities Objecfs and aims The principal activity of the company is. in the year under review, the inanagement and rental of workspacc units, meeting roorns, income undci. the Service Level Agreement for the management of the sports hall and the provision of rooin hire at Ballymena North Partnei-ship. Public benejlt Ballymena North Partnership Ltd operates as a Social Enterprise with a remit of pi'omoting an enterprise ciiltui-e and their rnission statement is to conti'ibute to thc Economic Development and Regeiieralion within the Noith Ballymena area and rejuvenate the areas in thc Dunclug & Doury Road estatcs. The Centre wa5 designed to respond to their needs by bringing businesses and employTnent into the arca along with fii'sl class recreational and community facilities. The Cenlre also provides facilities lor a full range of advisory services on sile. In particular to stimulat¢ the ci'cation of enterprise and promote self-cmployment as a viable cai-eer option through providing practical support for new and existing bu5incss including pi'oviding affordable recreational facilities and business units to local businessLS and community groups in Ihc area of North Ballymena. Ballyinena North Business & Recreation Centre facility incorporates a spoi'ls hall and changing facilities, i'ctail & bu5incss units, and community meeting rooins along with a kitchen. Ballyinena North pi'ovides facililics for numerous community activities, Charitable Statu5 Discounts The company operates a new pi'icing policy offering discounts lo community groups with charitable status who meet the criteria set by thc Board of Directors The trustee5 confirm that they have complicd with the requirements of the Charities Act (Northern Ireland) 2008 to have due regard to the public benefit guidancc published by the Chai'ity Coirnnission foi. Norihci'n li'cland Financial review Pollcy oil reserves Unrestricted fijnds are consldered to be essential to provide sufficient funds to cover any unforeseen costs which may arise and lfIl the legal obligations of Ihc charity. The Charity's policy is to maintain a Icvcl of free reserves sufficient to covcr such cosls.The calculation of the required level of reseives is an integral parl or Ballymena North Partncrship Limited's planning, budget and forecast cycle to enable them to cover expenditurc to allow the company to conlinu¢ at its cui'rent level of activity. Page 2
Ballymena North Partnership Ltd Trustees, Report Going concern The liustees assess whcther the use of going concern is appropriate i.e. whether there ar¢ any material uncci'tainties related to events or conditions Ihal may cast significant doubt on the ability of the charity to Continue as a going concern. The truslecs make this assessment in rcspect of a period of one year from the date of approval of the financial statements, Ai the tiinc of approving the accounts the trustees have a reasonablc expectation that the charity has adequate resources to continuc in operational existence for the foreseeable fijture. Thus, th¢ trustees continue to adopt the going concern basis of accounting in preparing these financial statements, Trustees and offiecr5 Thc trustees and officers serving during the year and since the year end were as follows.. Trustees.. Mr Maurice Mills- Chairman Mr Neil Arnistrong - Vice Chairnian Mrs Karen Magill -Trcasurer Robcrt Jamc5 Mccahon Mi. Pati'ick M¢Avoy Mr Barry Gordon Mr Jaincs Hcnry Mr Andrew Kennedy Mr Aidan Donnelly Mr Eugcne Martin Reid (appointcd 4 October 2023) Secretary: Robert James Mccahon Structurei governance and management Niilure ofgoveriiliig Ilociinieiit Ballymena Noith Partnership Ltd is a company limited by guarantcc and is also a registered charity, Charity Cominission for Northern Ireland rcgisti-ation nuinber NIC103952, HMRC charity number XR909. For the purposes of Charity Law, the dii-ectors are a150 trustees of the company. Statement of Trustees, Responsibilities The trustecs (who are also the directors of Ballymena North Partnership Ltd for the purposcs of company law) are responsible for preparing the ti'ustees, report and the financial statements in accordance with applicablc law and United Kingdom Accounting Siandai'ds (United Kingdom Generally Accepted Accounting Practice), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland" Coinpany law requii'es the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unles5 they are satisfied that they give a true and fair view of the state of affairs of the charitable cornpany and of the incoming resources and application of resources. including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and apply them consistently; observe the methods and principles in the Charitie5 SORP. Page 3
Ballymena North Partnership Ltd Trustees, Report make judgements and estimates that are reasonable and prudent. state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business, The trustees are responsible for keeping proper accounting Tecords that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable thern to ensure that the financial statemen15 comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fi'aud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitablc company's website. Legislation governing the preparation and disseinination of financial statements may differ from legislation in other jurisdictions. Small companies provision statcment This repoii has been prepared in accordance with the small companies regime under the Companies Act 2006. The annual report was approved by the trustees of the charity on 24 September 2024 and signed on ils bchalf by.. Robert James Mccahon Company Secretary and Trustee Page 4