Company Number: N1043863
Charity Number. N1104760
Destined Ltd
(A Company Ilmlted by guarantee)
Aeeounts
for the year onded 31 March 2024

Destined Ltd
(A company limited by guarantee)
Contents
Page
Inforniation
Dircctors Report
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Not¢s to th¢ accounts
9-16

Destined Ltd
(A company limited by guarantee)
Information
Company No:
N1043863
Charity No:
NICI04760
Directors
Kevin Burke
Tony McGuiness
Maeve McLaughlin
Adele Darby
George Harkin
Thomas McGlinchy
Deirdre McGuiness
Mark Baldrick
Michael Cole
Fiona Byrne
Robbie l-lazelott
Accountants
McGroarty Mccafferty & Company Ltd
Accountants & Tax Consultants
2 Carlislc Terrace
De
BT48 6JX
Reglstered Office
Foyle Valley Railway Museurn
l Foyle Road
Derry
BT48 6SQ
Bankers
Bank of Ireland
27 Culmore Road
Derry
BT48 8JB
Solicitors
Walter Hegarty Solicitors
4 Queen Street
Derry
BT48 7EF
Page I

Destined Ltd
(A company limited by guarantee)
Report to the Directors for the year ended 31 March 2024
The directors present their report and the financial statements for th¢ year ended 31 March 2024. The directors of
Destined Ltd for the purposes of company law and who serv¢d during th¢ y¢ar and up to th¢ date of this r¢port are
set out on page l.
Our Aims and Objectlves
Pu
oses and Aim
The main area of charitable activity is to promote the benefit of the inhabitants of Northern Ireland and
surrounding area and to provide innovative, pragmatic, daytime, evening time and drop in services for people
with learning disabilities. The mission statement is 'Empowering People witli Learning Disabilities and
Promoting Social Inclusion,.
It lias two distinct strands of activity;
to give its members ilie skills and self-confidence to play a fuller role in society.
and to support the coinmunity to be pro-active in the process of social inclusion.
In support of these aims Destined constructed a North West Learning Disability centre at its Foyle Road site. The
centre provide5 tlie base for a Council wide social inclusion programme that supports people with learning
disabilities to become involved in every aspect of community life. The organisation has established an out-reach
centre in Feeny, County Derry to complement the work of the new centre in rural areas.
The Focus of our Work
The organisation is based in tlie North West Learning Disability Centre and delivers programmes morning,
afternoon and evenings tliroughout the week and has programmes running at weekends, and also a similar one in
Feeny tliat services the rural area. Destined Ltd operates a person centred planning process to inforni the type and
content of its programmes, but the group operates on the simple assumption that its members have tlie same rights
as everyone else to participate in thc community and the only difference is that they may need a bit of extra
support to do so.
The programme of work for the organisation in the next financial year will include the full refurbishment of the
Foyle Valley Railway Museum, the refurbisl)ment of the Tank-house on site that is the last remaining piece of
infrastructure of tlie Great Northern Railway? the development of the Destined carwa5h a5 a social enterprise, the
devclopment of an urban social farm, th¢ establishment of a learning disability service provider consortium and
tlie establishinent of a social housing initiative.
Destined Ltd will continue to develop and deliver appropriate services to its membership that is currently at 250
people aiid will seek to offer additional places to another 50 people over the year.
Financial Review
Princi
al Fundin
Sources
Tlie key funders of the Destined programme include the National Lottery Dorniant Accounts, Rank Foundation,
Tudor Trust, Community Foundation NI, Nl Housing Executive, Deny City & Strabane District Council as well
as a range of other small funders.
Page 2

Structure, Governance and Management
Govemin
Document
The organisation is a company with charitable status. The entity was fonned on 19th August 2002. The company
was established under Memorandum & Articles of Association which outlined tlie area of benefit and the objects
of tlie charitabl¢ organisation.
Recruitment and A
ointment of th¢ Board of Directors
The directors of the company are also charity trustees for the purposes of charity law and under the company's
Articles are known as members of the Board. Under the requirements of the Memorandum and Articles of
Association, one third of the members of the Board must stand for re-election at the Annual General Meeting.
All members of Board give their time voluntarily and receive no benefits from the charity.
Mem
Inducti
n and Trainin
Board members are already fainiliar with the work of Destined Ltd. Board members are encouraged to participate
in relevant activities. Training has been delivered by CENI to the members of the Board over the past years on
the roles and rcsponsibilities of a Director. This followed govemance training over the past few years that
resulted in Destined being awarded the All-lreland Aontas Award for innovation and good practice.
The Inain obligation of tlie Board are to develop and oversee the implementation of policy and to ensure that
structures and management complies with legal requirements and good governance practice. The Board meets
every sccond month and reports on past developments and future plans are presented.
anisational Stru¢tu
The organisation structure consists of I I directors with a number having leaming disabilities. A general manager
heading up a management team of 8. They oversee a range of project committee5 delivering programmes.
Risk Mana
ement
As part of the risk Inanagement policy Destined Ltd lias initiated a fundraising strategy that lias seen the group
being pro-active in allracting funds throughout the city. It recently launched a weekly lotto to increase levels of
sustainability aiid has an active fundraising committee.
Responsibilities of the Board of Dlrectors
In addition to the responsibilities outlined above the Board will prepare financial statements for eacli financial
year which give a fair and true view of the state of affairs of the charitable company as at the balance sheet date
and of its incoming resources and application of resources, including income and expenditure for the financial
year. In preparing thosc financial statements, the Board should follow best practice and:
Select 5Ultable accounting policies and apply them consistently.
observe the methods and principles in the Charities SORP 2019 (FRS102).
make judgements and estimates that are reasonable and prudent. and prepare financial statements on the going
concem basis unless it is iiot appropriate to assume that the company will continue on that basis.
Page 3

slate whether applÈcabR¢ UK Accountiiig Standards have been followed, subjcct to wiy makridl departures
disclosed and explained in the f￿anCIal statetnents.
prepare the financial statemcnts on thc going conccm basis unless it is inapproriate to assume thc company will
contiiiu¢ in busines%..
The dircctors arc r¢sponsibl¢ for maintaining proper accounting rccords which disclosc with r¢asonable accuracy
at any tim¢ the financial positian of the charity and cnablcs them to cnsure that the financial stateincnts coiiiply
with th¢ Companies A¢t 2006. The dircctors arc ulsu rcsponsiblc for saf¢guarding th¢ assets of tlIL Lhurity and
hence for taking reasoiiuble slepti for ihe prevenlion and detection of fraud and other irregularities.
This report is prepared in accordailce with the special provisioiis of part 15 of the Companies Act 2006 relating to
small companie.8 and in accordance with SORP 2019 (FRS102).
This r
and autliorised for i.￿sue by tlie Board on 14 October 2024 aiid signed on it8 behalf by:
Oldf,G
Dlrector
Maeve M¢Laughlln
Dfirector
Murk Baldrlck
Page 4

Destined Ltd
(A company limited by guarantee)
Independent Examiner's Report on the unaudited financial statements to the directors of
Destined Ltd
We report on the accounts of the charity for the year ended 31 March 2024.
Respective responsibilitics of ¢harlty commlttee members and examiner
As the charity's directors you are responsible for the preparation of the accounts in accordance with the
requiremenls of tlie Companies Act 2006. Having satisfied ourselves that the charity is not subject to audit
under company law, and is eligible for independent examination, it is our responsibility to:
examine the accounts under Section 65 of the Charities Act;
follow the procedurcs laid down in the general Directions given by the Commission under Section 65(9) (b)
of tlie Charities Act.
state whetlier particular matters have come to our attention.
Basls of Independent examincr's report
We Iiave examincd your charity accounts as required under Section 65 of the Charities Act and our
examination was carried out in accordance with the general directions given by th¢ Charity Commission for
Northern Ireland under Section 65 (9)(b) of the Cliarities Act.
The exainination 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. aiid seeking explanation from you &s charity directors concerning any such matters.
Our rol¢ is to state wlietlier any mat¢rial matters have come to our attention giving us cause to believe:
l.Tliat accounling records wcrc not kept in accordan¢¢ with Se¢tion 386 of the Companies Act 2006.
2.That the accounts do not accord witl) those accounting records.
3.That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006
and with the methods and principlcs of the Charities Statement of Recommonded Practice applicable to
liarities preparing their accouiits in accordance witli the Financial Reporting Standard applicable in the UK
and Republic of Irelaiid.
4.That there is further information needed for a proper understanding of the accounts to be reached.
Independent Examiner's Statement
We can confirm we are qualified to undertake the examination and are regulated and a member of Chartered
Accountants Ireland, wliich is one of the listed bodies.
We have completed our examination and have no concerns in respect of the matters 1 4 listed above and, in
conncction with tlie following Directions of the Charity Commission Northem Ireland. we have found no
matters that require drawing to your attention.
McGroarty Mccafferty
Company Li
Accountants & Tax Consultants
2 Carlisle Terrace
Derry
B T48 6.JX
Date: 14 October 2024
ited
Page 5

Destined Ltd
(A company limited by guarantee)
Statement of Financial Activities
for the year ended 31 March 2024
Unrestricted
Funds
Restricted
Funds
2024
2023
Income and Expondituro
Incoming Resources
Graiits & Sundry Iiicome
155,735
259,854
415,589
496,364
Total Incoming Resources
155,735
259,854
415,589
496,364
Resources Expended
Charitable activities
118,967
297,432
416,399
522,827
Total Resources Expended
118.967
297,432
416,399
522,827
Net Incoming l (Outgoing) Resources 12.
36.768
(37,578)
(810)
(26,463)
Balances brouglit forward l April 2023
(47,154)
1,340,652
1,293,498
1,319,961
Balances Carried forward 31 March 2024
(10,386)
1,303,074
1,292,688
1,293,498
The above amount5 relate to continuing operations of the company.
The company has no recognised gains and losses other than those included in the results above and therefore
no separate stateinent of total recognised gains and losses has been presented. There is no difference between
tlie n¢t incoming resources for the year stated above and their historical ¢ost equivalents.
Page 6

Destined Ltd
(A company limited by guarantee)
Balance sheet
as at 31 March 2024
2024
2023
Notes
Fixed assets
Tangible assets
1,448,120
1,482,025
Current asset5
Debtors
Cash at bank and in hand
7,413
5,424
22,041
7,991
12,837
30,032
Current IIAbllltles
Bank loans and overdrafts
Other creditors
Accruals
27,385
21,287
15,896
53,978
41,091
16,514
64.568
111,583
Net current liabilities
(51,731)
(81,551)
Tolal assets less currcnt
liabfilltlcs
1,396,389
1,400,474
Long-t¢rm liabilities
10
(103,701)
(106,976)
Net assets
1,292,688
1,293,498
Rcserves (noto )
Unreslricted
Restricted
(10,386)
1,303,074
(47,154)
1,340,652
1,292,688
1,293,498
Page 7

Destined Ltd
(A company limited by guarantcc)
{continucd)
In approving thcsc financial statcmcnts as dircctors of thc company wo hcrcby confirni:
Thc compuny wus entitlcd to cxcmption from audit und¢r $477 of the Companies Act 2006 rclutinbr to bmall
comapnies.
The m¢mber4 have not required the company to obtsin an audit in accordance with section 476 of the
Companies Act 2006.
The directors ackiiowledge their responsibilities for complying with the requirenients of the Compai1ie.8 Act
2006 with respect to accounting records and preparation ot'accounts.
Tlicsc accounts liavc bc¢n prcparcd in accordancc with dic provisions applicablc to siiiall Lonipanics subjcct to
the sniall companics rcgime in accordance WAth Charitics SORP (FRS102).
Thc financial statcmcnts wcrc approvcd and authoriscd for issue by the Board on 14 Octob¢r 2024 and signcd
on its bcliulf by;
yLbi140L
Director
Macvc McLaughlin
Dlrector
Mark Baldrfick
Date . 14 October 2024
Date . 14 October 2024
Reg15tration numberll &N1043863
Page 8

Destined Ltd
(A company limited by guarantee)
Notes to the accounts
for the year ended 31 March 2024
Accounting p(bllcles
The charity is a private limited company by guarantee, registered in Northem Ireland and a registered
charity in Nortliem Ireland. The address of the registered office is Foyle Valley Railway Museum, I
royle Road, Derry¥ BT48 6SQ.
1.1. Accounting convention
The significant accounting policies applied in the preparation of these financial statements are set out
below. These policies have been consistently applied to all years prcscnted unless otherwise stated.
The charity constitutes a public benefit entity as defined by FRS102. 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 Charities SORP 2019 (FRS102) and the
Companies Act 2006.
Tlie financial statements are prepared on a going concern basis under the historical cost convention,
modified to included certain items at fair value. The financial stateinents are presented in sterling
whicli is the functional currency of the charity.
Incoming resources
All incoming resources are included in the statement of fInancilll activities when the charity is entitled to
the incomc and the amount can b¢ quantified with reasonable accuracy. The following sp¢¢ific policies
are applied to particular categories of in¢ome:
Voluntary income is received by way of grants, donations and gifts and is included in full in tlie
stalement of financial activities when receivable. Grants where entitlement is not conditional on the
delivery of a specific perfonnance by the charity, are recognised when the charity becomes
unconditionally entitled to the grant.
Donated services and facilities are included at the value to Ilie Charity where this can be quantified. The
value ofservices provided by volunteers has not been included.
Gifts donated for resale are included as incoming resources within activities for generating funds wlien
they are sold.
1.3. Rcsourccs expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT
which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Charitable expenditure comprises those costs incurred by the ¢harity in the delivery of its activiti¢5 and
services for its beneficiaries. It includes both costs that can be allocated directly to sucli activities and
those costs of an indirect nature necessary to support them.
Page 9

Destined Ltd
(A company limited by guarantee)
Notes to the accounts
for the year ended 31 March 2024
1.4. Tangible fixed #ssets and deprociatlon
Tangible fixed assets are stated at cost less depreciation.
Depreciation is provided at rates calculated to write off the cost or valuation less residual value of each
asset over its expected useful life, as follows:
Land and buildings
Fixtures & Fittings
Motor vehicles
2Yo Straight Line
150/0 Straiglit Line
150/0 Straight Line
1.5. Debtors & ereditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are
recorded at transaction price. Any losses arising from impairn]ent are recognised in expenditure.
1.6. Ca¥h at bank and in hand
Cash and ca51i equivalents iiiclude casli at bank and in hand.
1.7. Golng Concern
The financial statements have been prepared on a going Concern basis as the directors believe tliat no
malerial uncertainties exist. The directors have considered the level of funds held and the expected level
of income and expeiiditure for 12 months from authorising these financial statements. The budgeted
incoine aiid expenditure is su￿1Clent with the level of rcserves for the charity to be able to continue as a
going concern.
1.8. Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease
tcmi.
Page 10

Destined Ltd
(A company limited by guarantee)
Notes to the accounts
for the year ended 31 March 2024
Incomo
2024
2023
Restricted Ineome
Arts Couiicil
Derry Ciiy & Strabane District Council
Children in Need
National Lottery Heritage Fund
The Screwfix foundation
Dormant Accounts
Education Authority - Restricted
Community Foundation Nl
Halifax
Nl Housing Executive
Tudor Trust
Irisli Youtli Foundation
LFT
Big Lottery fund - Five Circles
Big Lottery - People & Communities
Rank foundation
Clear Project
Ulster Garden Villages
9,970
15,030
4,864
15,000
120,756
3,000
54,120
2,981
36,639
5,000
31,942
40.000
3,772
4,620
3,000
36,639
276
7,500
50,000
19,600
48,000
3,060
20,000
53,916
4,000
259,854
333,831
Unrestrictod Ineome
Ulster University
Locality and The Guardian
Fundraising & Donations
WHSCT
Other income unrestricted
3,500
10,000
48,731
74,322
19,182
55,615
56,521
50,397
155,735
162,533
Total Income
415,589
496,364
(i)
Restricted Funds
Funds received which are earmarked by the Funder for specific purposes. Such purposes are within the
overall aims of the organisation.
(li) Unrestricted Funds
Funds which are expendable at the discretion of the company in furtherance of the aims of the charity.
In addition funds may be held in order to finance capital investment and working capital.
Page 11

Dcslined Ltd
(A company limited by guarantee)
Notes to the accounts
for the year ended 31 March 2024
Resources Expendcd
Unrestricted
Funds
Restricted
Funds
Total
2024
Total
2023
Management & AdministratloD
Wagcs & Salaries
Penslon Costs
Big Lottery Fund - Connecting Older Peop12,567
Big Lottery Fund - Five Circles
Big Lottery- People and Communities
Cafe expenses
Tutor Trust expenses
National Lottery Heritage expenses
Cleaning
Programine expenses
Insurance
Liglit and Heat
Printing, Postage & Stationcry
Computcr Equipment
Repairs & Maintenance
Telephone
Sundry expenses
Accountancy
Transport costs
Bank charges
UCIT Loan interest
Preinium Credit interest
Depreciation
16,708
150,870
7,300
167,578
7,300
2,567
6,646
73,613
35,255
63,383
21,696
46,846
1,093
127,345
28,792
39,327
11,120
8,202
34,998
100,341
111,461
8,202
34,998
868
5,092
6,030
5,074
5,215
1,570
1,123
2,078
9,385
868
5,092
6,030
5,074
5,215
6,593
6,218
5,053
6,701
3,073
5,616
2,490
1,638
279
41,159
1,570
11,123
2,078
9,385
,375
36,483
37,858
118,967
297,432
416,399
522,827
Net (outgoing)l incoming resources for the year
2024
2023
Net (outgoing)l incoming resources is stated after charging:
Depreciation and other ainounts written off tangible fixed assets
Accountancy fees
37,858
1,570
41,159
3,073
Page 12

Destined Ltd
(A company limited by guarantee)
Notes to the accounts
for the year ended 31 March 2024
Stuff Costs
Employment Costs
2024
2023
Wages and Salaries
Social security costs
224,096
21,317
250,673
17,648
245,413
268,321
No employee received emoluments of more tlian £60,000 (2022: None)
Number of employees
The average monthly numbers of employees during the year, calculated on the basis of full time
equivalents, was as follows:
2024
Number
2023
Number
Average nuinber of einployee5
Taxation
As a charily, Destined Ltd is exempt from t&x on income and gains falling within section 505 of tl)e
T&xes Act 1988 or s256 of the T&xation of Chargeable Gains Act 1992 to the extent that th¢s¢ are
applied to its cliargeable objects. Accordingly, no tax charges liave arisen in the charity.
Page 13

Destined Ltd
(A company limited by guarantee)
Notes to the accounts
for the year ended 31 March 2024
Tangible assets
Land and
building&
freehold Equipment
Motor
vehlcles
Total
Cost
At l April 2023
Additions
1,461,602
3.953
I 16,322
5,200 1,583,124
3,953
At 31 March 2024
1,465,555
116,322
5,200 1,587,077
Depreciation
At l April 2023
Cliarge for the year
At 31 March 2024
51,748
29,310
45,121
7,878
4,230
670
101,099
37,858
81,058
52,999
4,900
138,957
Net bookvalucs
At 31 Marcli 2024
1,384,497
63,323
300 1,448,120
At 31 Marcli 2023
1,409,854
71,201
970 1,482,025
Debtors
2024
2023
Grants receivable
Other debtors
981
6,432
15,609
6,432
7,413
22,041
Creditors: amounts falllng due
within one year
2024
2023
Taxes and social security creditor
Bank loans and overdraft
Deferred income & other Creditors
A¢¢ruals
6,297
42,375
12,841
53,978
28.250
16,514
15,896
64,568
111.583
Page 14

Destined Ltd
(A company limited by guarantee)
Notes to the accounts
for the year ended 31 March 2024
10.
Long-term liabilities
2024
2023
Loans
103,701
106,976
11. Security
Destined Ltd is subject to the following charges;
The Executive Office dated 9th June 2020 on supplemental financial assistance based on the
harge of14tli May 2019 that is not registered in the Land Registry against tlie company's land.
The Executive Office dated 14th May 2019 that is not registered in Land Registry against the
company's land.
The Community Foundation for Northern Ireland dated 16th May 2017 that is not registered in
Land Registry against the company's land.
12.
Movements in Funds
At
l April Incoming Outgoing
2023 resources resources
At
31 MArch
2024
Restricted funds:
Total restricted funds
Unrestricted funds:
Total unrestricted funds
1,340,652 259,854 (297,432)
1,303,074
(47,154) 155,735 (118,967)
(10,386)
Total funds
1,293,498 415,589 (416,399)
1,292,688
Purposes of Restricted Funds
Restricted grants awarded to the charity is provided to cover the core objects as explained
in directors report.
13.
Related Party Transactions
Destined Ltd is owed £6,432 from a company that has similar directors.
During the financial year Destined Ltd made payments totalling £20,547 for rent of a respite and
activity ¢entr¢ to a relative of a key management personnel.
14.
Limited by Guarantee
The company is limited by guarantee and does not have a share capital.
Page 15

Destined Ltd
(A company limited by guarantee)
Notes to Ihe accounts
for the year ended 31 March 2024
15. Post Balanee Sheet events
No significant events have taken place since the year end that would result in adjustments to 2024
financial information or inclusion of a note thereto.
Page 16