Company Number: N1043863 Charity Number: N1104760 Destined Ltd (A company limitsd by guarantee) Aeeounts, for the year ended 31 Ilqarch 2025
Destined Ltd (A company limited by guarantee) Contents Page Information Dii'ectors Report Ii)dependent Exaininels Report Statement of FInl¢La1 Activities Ba.lance Slieet Notes to the Accounts 9-16
Destined Ltd (A company limited by guarantee) Information Company No: N1043863 Charity No: NTC104760 Secretary Caolan Friel Resigned 07 January 2026) Directors Kevin Burke Clare Mcmonagle Toiiy McGuiness Maeve McLauglilin Adele Darby George Harkin Thoinas McGlinchy Deirdre McGuiiiess Mark Baldrick Michael Cole Fiona Byrne Robbie Hazelott Anna Quigley Resigned 07 January 2026) (Appointed 13 January 2026) (Resigned 15 May 2025) (Resigned 15 May 2025) (Appointsd 14 J]Uary 2026) (Resigned 15 May 2025) (Resigned 07 January 2026) (Resigned 15 May 2025) (Resigned 15 May 2025) (Resigned 15 May 2025) (Appointed 16 January 2026) Accountants McGro&rty Mccaffety & Coinpany Ltd AccoUntlt8 & Tax Consultants 2 Carlisle Terrace Derry BT48 6JX Registered Office The North West Learning Disability Centre l Foyle Road Derry BT48 6SQ Ballkers Baiik of Ireland 27 Cuhnore Road Derry BT48 8JB SoRAeitors Mark Reid 2A Woodburn Park Derry BT47 5PS Page I
Destined Ltd (A company limited by guarantee) Report to the Directors for the year ended 31 March 2025 The directors present tlieir report and the financial stateinellts for the year ended 31 March 2025. The directors of Destined Ltd for the purposes of company law alld who served during the year ]d up to the date of this repoi* are set out on page l. Our Aims and Objectiv Pur oses aiid Aims Tlie inain area of cliaritsble activity is to promote the benefit of the inhabitants of Northern Ireland and surrouiidiiig area and to provide innovative, pragmatic, daytiine, evening time and drop in services for people wil.li leariiing disabilities. The illission stateineiit is 'Empoweriiig People witli Learning Disabilities and Pi'oinotiiig Social Inclusioii,. It has two distinct strands of activity. to give its meinbers tlie skills and self-confidence to play a fuller role in society. - and to suppoit the conimunity to be pro-active in the process of social inclusion. In support of tliese aims Destined consts'ucted a North West Learning Disabilily Centr¢ at its Foyle Road site. Tlie centre provides tlie base for a Cowicil wide social inclusion programme that supports people with leariiiiig disabilities to become iiivolved in every aspect of coinmuiiity life. The orgaiiisatioii has established an out-reacli ¢eiitre in Feeny? Couiity Derry to coinplemeiit the work of tlie new Gentre in rural areas. The Focus of our Work The organisation is based in tlie North West Learning Disability Centre and delivers programmes morning, afteriioon and eveiiings througliout the week ]d has programmes runniiig al weekends, and also a similar one iii Feeny tliat services the rural area, Destined Ltd operates a person Geiitred pl]ning process to inform the type aiid coiiteiit of its programmes, but the group operatss on the siinple assumption that its members Ive tlie same riglits as everyone else to participate in the GomAnunity and the only difference is that they may need a bit of extra siipport to do so. The progi'ainme of work for the organisation in the next fiiiancial year will include the full refurbishment of the Foyle Valley Railway Museum, the refurbisl)Inent of the Tank-house on site that is the 1&8t remaiiiing piece of iiifrasts'ucture of d)e Great Noitliern Railway. Destined Ltd will continue to develop and deliver appropriate services to its members and will seek to offer additional places to more people going forward. Financial Review Priiici al Fundin Sources The key funders of the Destiiied programme include tlie National Lottery Dormant Accolllits, Rank Fouiidation, Tudor Trust, BBC Children in Need, NI Housing Executive, Derry City & Strabane District Council as well as a range of otliey small fuiiders. Page 2
Stl'ucture, Governance and Management Goveriiin Docuinent The organisation is a coinpwiy with charitable status. The entity was formed on 19th August 2002. The company was establislied uiider Memorandum & Articles of Association which outlined the area of beiiefit and tlie objects of the chai'itable organisation. Recruitment and A ointment of the Board of Directors The directors of the compaiiy are also charity trustees for tlie purposes of charity law and uiider the oompany's Articles are knowii &s inembers of tlie Board. Under die requireinents of the MemorandLim and AJti¢les of Association, oiie third of the members of die Board must stsiid for re-election at tlie Aiiiiual General Meetiiig. All iiienibers of Board give their tiTne voluntarily aiid receive no benefits from the charity. Meinbers Induction ]d Trainin Board inembers are already familiar with the work of DestAned Ltd. Board members are encouraged to participate iii relevant activities. Traiiiing has been delivered by CENI to the members of the Board over the past years on die roles and responsibililies of a Director. This followed governance traiiiiiig over the past few yvars that resulted in Destined belug awarded the All-Ireland Aontas Award for innovation aud good practice. Obli ations of ihe Board The main obligation of the Board are to develop and oversee the implementation of policy and to eiisure that structures aiid manageinent coinplies with l¢gal requireineiits and good governance practice. The Board nieets every second montli ajid reports oil past developmeiits and future plS are presented. Risk Maiia ement As parl of tlie rislc manageinent policy Destiiied Ltd Ii&s iiiitiated a fundraising sts?tegy that has seen tlie group beiiig pro-active in attracting funds tliroughout the city. It recently launched a weekly lotto to iiicrease levels of sustainability and has an active fundraising cominittee. Responsfibllities of the Board of Dlrectors Iii addition to tlie responsibilities outlined above the Board will prepare fAnancial statsments for each finaiicial year wliich give a fair and true view of the state of affairs of the charitable company as at the balance slieet date and of its incomiiig resources and application of resources, includllig income aiid expenditure for the financial yeai.. lil preparing those fanCIal ststements, the Board should follow best practice and: select suitable accounting policies and apply diem consisteiitly. - observe the methods and principles in the Charities SORP 2019 (FRS102). malce judgements ]d estllnates that are reasoithle ]d pi'udent. and prepare fjnancial statements oli tlie going coiicei'Ai basis unless it is iiot appropiiate to assuine that the ComplY will continue on that b&sis. state whether applicable UK AccountÉng Standards liave been followed, subject to any nwterial deptureS disclosed and explaiiied ill the fu11¢la1 stateillents. Page 3
- prepare the financial statements on tlie going concern basis unless it is inapproriate to assume tlie company will coi)tinue in business.. The directoiE are responsible for maintalliiiig proper accoullting records which disclose with reasonable accuracy at. ]Y time the financial position of the charity and enables them to ensure that the F]c1a1 statements cornply with tlie complieS Act 2006. The directors are also responsible for safeguarding the assets of the cliarity aiid lieiice for takiiig reasoiwbl¢ steps for the prevention and detection of fi'aud and other irregularities. This report is prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to sniall compaiiies and lli accordance with SORP 2019 (FRSI 02). This report w approved d authorised for issue b e Board on 13 February 2026 alld signed oil its behalf by. Director Maeve McLaughlin Thomas McGlinchey Page 4
Destined Ltd (A company limited by guarantee) Independent Kxaminer's Report on the unaudited financial statements to the directors of Destined Ltd We repoit on the accounts of the charity for the year ended 31 March 2025. Respectlve responsib91ities of charity committee members and examiner As tlie charity's directors you are responslble for the prepatIOn of the accounts in accordaiice with the requireinei)Is of the Companies Act 2006. Haviiig satisfied ourselves that the charity is iiot subject to audit under company law. and is eligible for independent ewnirAatÉon, it is our respoiisibility to: examine the accouiits under Section 65 of the Charities Act. follow the procedures laid down in the general Directions given by the Commission under Section 65(9) (b) of the Charities Act. - state whether particular matters have coine to our attention. Basis of Independent examiner's report We have examined your charity accounts as required under Section 65 of the Charities Act aiid our examiiiation was carried out in accordance with the gei)eral directions given by the Charity Commission for Northern Ireland under Section 65 (9)(b) of the Charities Act. The examinalioli included a revtew of the cOul1t11]g records kept by the charity and a coinparison of the accoLlllts presented with those records. It also iiicluded consideration of any unusual items or disclosures iii the accounts, ]d seeking expIlatIOn from you as clwity directors Goncerning any such matters. Our role is to state whetlier any material matters have Coine to our attention giving us cause to believe: l .Tliat accounting records were not Icept in accordance witli Sectioii 3 86 of the Companies Act 2006. 2.That the accounts do not accord with ihose accounting records. 3.Tliat the accouiits do i)ot comply with the accountiiig requireinents of section 396 of the Coinpanies Act 2006 aiid with the methods and principles of the Charities Statement of Recommended Practice applicable to cliarities prepai'ing tlieir accouiits in accordance with the Finallcial Reporting Standard applicable in the UK and Republic of Ireland. 4.That tliere is further infoi'ination needed for a proper understanding of the accounts to be reached. Independent Examiner's StAtement We cwi confirm we are qualified to uiidertake the examination ]d are regulatsd and a member of Chartered Acoountaiits Ireland, wliich is oiie of the listed bodies. We have completed our examinatioii and have no concerns in respect of the matters 1- 4 listed above and, in coniiectlOLi Witli the following Directions of the Charity Commission Northern Ireland; we have found no Inatters that I'equire drawiiig to your attex]tion. McGroarty Mecafferty & Compan Accountants & Tax Consultants 2 Carlisle Terrace Derry BT48 6JX Date.. 13 February 2026 Limited Page 5
Destined Ltd (A eompany limited by guarantee) Statement of Financial ActlVAties for the year ended 31 March 2025 Unrestricted Funds Restricted Funds 2025 2024 Income and Expenditure Incoming Resources Grants & Sundry Income Total Incoming Resourees 152,294 238,208 390,502 415,589 152,294 238,208 390,502 415,589 Resources Expended Cl1,1tab]e activities 134,042 279,551 413,593 416,399 Total Resources Expended 134,042 279,551 413,593 416,399 Net Incoming / (Outgolng) Resources 12. 18,252 (41,343) (23,091) (810) Bal)CeS brouglit forward l April 2024 (10,386) 1,303,074 1,292,688 1,293,498 Balat)ces carried forward 31 March 2025 7,866 1,261,731 1,269,597 1,292,688 The above OUntS relate to contiiiuing operations of the COAnpany. The company has no recognised gaiiis and losses other than tliose included in the results above and therefore no separate statement of total recognised gains and losses has been presented. There is no difference betweeii the net incomiiig resources foi. the year stated above and tlieir historical cost equivalents. Page 6
Destined Ltd (A company limited by guarantee) Balance sheet as at 31 Ivlarch 2025 2025 2024 Notes Fixed assets TaAigÈble assets 1,452,088 1,448,120 Current assets Debtors Casli at bank wid iii hand 38,032 23 7,413 5,424 38,055 12,837 Current liabilities Banlc loaiis and overdrafts Otlier creditors Accruals 54,909 54,515 10,581 27,385 21,287 15,896 120,005 64,568 Net current liabfillties (81,950) (51,731) Total assets less eurrent liabilities 1,370,138 1,396,389 Loiig-terrn liabilities 10 (100,541) 1,269,597 (103,701) Net assets 1,292,688 Reserves (note 12) Unrestricted Resti'icted 7,866 1,261,731 (10,386) 1,303,074 1,269,597 1,292,688 Page 7
Destined Ltd (A company limited by guarantee) (continued) In approving these fiiiancial statements as directors of the company we hereby confirnl: Tlie company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small comapiiies. The meinbers have not required the company to obtain an audit in accordance with section 476 of the ColnpIleS Act 2006. Tlie directoys aclaiowledge their i'esponsibilities for coinplying with the requirements of the complIeS Act 2006 with respect to accounting ircoi'ds ]d preparatioii of accounts. These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small compaiiies regime in accordallce with Charities SORP (FRS102). Tlie fiiiancial statements. were approved and authorised for issue by the Board on 13 February 2026 and signed 011 Lts belialf by: Director Maeve McLAughlin Director Thomas M¢Glinehey Date . 13 February 2026 Date . 13 February 2026 Registration number: N1043863 Page 8
Destined Ltd (A company limited by guarantee) Notes to the accounts for the year ended 31 March 2025 AccoUntig policies Tlie charity is a private liinited company by guarantee, registered in Nortlieni Ireknid and a registered charity in Northern Irelaiid. The address of the registered office is The North West Learntng Disability Centre, l Foyle Road, Derry, B T48 6SQ. 1.1. Accounting convention The significlt accounting policies applied in the preparation of these financial statemeiits are set out below. Tliese policies have beell consist¢ntly applied to all years presented unless otlierwise stated. The chaTity Constitutes a public beiiefit entity as defined by FRS102. The financial statemeiits Iiave been prepared in accordance with Accounting and Reporting by ch'itics'. Stateineiit of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK ]d Republic of Ireland Charities SORP 2019 {FRS102) and the Companies Act 2006. The fiiialicial statemeiits are pi'epared oil a going concen] basis under the historical cost conveiition, Inodified to included certain items at fair value. Tlie financial statsments are presented in sterliiig wl)ich is the fuiictional currency of the charity. 1.2. Incoming resources All incoining resoiirces are included iii the statement of fmancial activities when the charity is entitled to tlie iiicoinc and the amowit can be quantified with re&sonable accuracy. The followiiig specific policies are applied to particul. categories of income: Voluntary iiicoine is received by way of grants, donations and gifts arAd is iiicluded iii full in the statement of finaiicial activities when receivable. Grants where entillement is not conditioiial on the delivery of a specific perforin&)ce by the charAty, are recognised when the charity becomes unconditionally eiititled to tlie allt. Doiiated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included. Gills donated for resale are included as incoming resources withiii activities for generating funds when tliey are sold. 1.3. Resources expended Expeiiditui'e is recognised on an accrual basis as a liability is incurred. Expenditure iiicludes ]Y VAT whicli cannot be fully recovered, ]d is reported as part of the expenditure to which it relates. Cliaritable expenditure comprises those costs iiicui'red by tlie charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature iiecessary to support them. Page 9
Destined Ltd (A company limited by guarantee) Notes to the accounts for the year ended 31 March 2025 1.4. Tangllble fued assets And depreciy4tion Tangible fixed assets are stated at cost less depreciation. Depreciatioii is provided at rates calculated to write off Ihe cost or valuation less residual value of each asset over its expected useful life, as foljows: Land and buildings Fixtiires & Fittings Motor vehicles 20/0 Straiglit Line 150/0 Straiglit Line 15 % Straight Line 1.5. Debtors & creditors Debtors ]d creditors with no stated interest rate wid re1Vable or payable witliin one year are i'ecorded at tr]sactIon price. Any losses arising from iinpairment are TeGo8nised in expenditure. 1.6. Cash at ballk and in hand Casli and cash equivalents include cash at bank and in hand. 1.7. Going concer The finaiicial stat'einents have been prepared on a going concern basis as the directors believe that no Inai¢rial uncertainlies exist.. The directors have coiisidered tl)e level of funds held and the expected level of income and expeiiditure for 12 months from authoi'isiiig these financial statemeiits. The budgeted income and expenditure is sufficient with the level of reserves foi. the charity to be able to continue as a going concern. Page 10
Dtilled Ltd (A company limited by guarantee) Notes to the aecounts for the year ended 31 March 2025 Income 2025 2024 Restricted Income Derry City & Strable District Council Causeway Coast & Glens Council Cliildren in Need The Screwfix Fouiidation Dorinant Accouiits Education Authority Community Foundation NI Halifax NI Housing Executive Tudor Trust Irisli Youth Foundation LFT Triax CDHN Ilank Foundation Otlier incoine Clear Projeot Frned to Perfection 2,900 980 15,000 4,864 15,000 3,000 54,120 2,981 36,639 5,000 31,942 40,000 3,772 4,620 45.780 2,882 2,000 36,074 33,500 407 5,000 9,600 41,424 2,331 5,740 34,590 53,916 4,000 238,208 259,854 Unrestrlcted Income Ulster University Locality and The Guardian Fundraising & Doiiations WI4SCT Other incoine unirstt'LCted 3,500 10,000 48,731 74,322 19,182 24,668 56,829 70,797 152,294 155,735 Total Income 390,502 415.589 (i) Restricted Funds Funds received which are earmarked by the Funder for specific pury)oses. Such purposes are witliin the overall aims of the OrgliSatIOn. (li) Unrestrieted Funds Funds which are expendable at tlie discretlon of the company in furtherance of the aims of the charity. In additioii fwids may be held in order to finwice capital investment and workiiig capital. Page 11
Dtined Ltd (A company limited by guarantee) Not&g to the aecounts for the year ended 31 March 2025 Resources Expended Unrestricted Funds Restrictsd Funds Total 2025 Total 2024 Management & Admlnistration Wages & Salaries Peiision Costs Big Lottery Fuiid - Coiinectiiig Older People Progranime expeiises 29,111 Insurance 7,738 Light and Heat 34,165 Priiitingy Postage & Sl'ationery 234 Coinputer Equipment 3.771 Repairs & Maintenl¢e 11,967 Teleplione 3,260 Sundry expenses 4,180 Rates 7,185 Accou1]t}CY Transport costs Baiik charges UCIT Loan interest PL'ofits/losses on disp of tangibles Depreciatioii 6,077 144,092 7,537 150,169 7,537 167,578 7,300 2,567 111,461 8,202 34,998 868 5,092 6,030 5,074 5,215 83,104 112,215 7,738 34,165 382 3,771 11,967 3,260 4,180 7,185 3,354 9,586 3,780 9,500 300 44,504 148 3,354 1,570 11,123 2,078 9,385 9,586 3,780 9,500 300 41,016 3,488 37,858 134,042 279,551 413,593 416,399 Net (outgoing)/ incoming resources for the year 2025 2024 Net (outsoiiig)l incoming resources is stated after cliarging: Depreciation and other amounts written off tangible fixed assets Accountancy fees 44,504 3,354 37,858 1,570 Page 12
Destined Ltd (A company limited by guarantee) Notes to the accounts for the year ended 31 March 2025 Staff costs Employment costs 2025 2024 Wages and salaries Social security costs 138,184 11,985 154,588 12,990 150,169 167,578 No employee received einoluineiits of more than £60,000 (2024: None) Number of employees Tlie average inoiithly iiumbers of employees during the year, calculated on the basis of full time equivalents, was as follows.. 2025 Number 2024 Number Average number of employees TaxAaion As a cliarity, Destined Ltd is exempt from tax Oll income and gains falling within section 505 of the Taxes Act 1988 or s256 of tlie Taxatioii of Chargeable Gains Act 1992 to the extent that these are applied to its chargeable objects. Accordiiigly, no tax cliarges Iiave arisen in the charity. Page 13
Destined Ltd (A company IRmited by guarantee) Notes to the accounts for the year ended 31 March 2025 Tangible assets Land and bulldlngs freehold Equipment Motor vehieles Total Cost At l April 2024 Additions Disposals At 31 March 2025 1,465,555 116,322 48,772 5,200 1,587,077 48,772 (5,200) (5,200) 1,465,555 165,094 1,630,649 Deprecllation At l April 2024 Depreciatioii error - 2018 Ch'ge for the year 81,058 52,999 4,900 (4,900) 138,957 (4,900) 44,504 29,311 15,193 At 31 Marcli 2025 110,369 68,192 178,561 Net book values At 31 March 2025 1,355,186 96,902 1,452,088 At 31 March 2024 1,384,497 63,323 300 1,448,120 Debtors 2025 2024 Graiits i'eceivable Other debtors 20,299 17,733 981 6,432 38,032 7,413 Credritors: amounts falling due within one year 2025 2024 Taxes ]d soclal security creditor Bank loans and overdraft Deferred income & other creditors Accruals 3,025 78,909 27,490 10,581 6,297 27,385 14,990 15,896 120,005 64,568 Page 14
Destined Ltd (A company limited by guarantee) Not&s to the accounts for the year ended 31 March 2025 10. Long-Éerm liabilities 2025 2024 Loaiis 100,541 103,701 11. Security Destined Ltd is subject to the following charges; Tlie Executive Office dated 9th Julie 2020 011 supplemental financial assis]ce based on the charge of14th May 2019 that is not registered in the Land Registry against the company's land; The Executive Office dated 14th May 2019 that is not registei'ed in Land Registry against the coinpany's ]id. Tlie Community Foundation for Northern Ireland datsd 16th May 2017 that is not registered in Lid Registry agaiiist tlie company's land. 12. ovements in Funds At l Aprll Incomlng Outgoing 2024 resources resources At 31 March 2025 Restricted funds: Total reskn'icted funds Unrestricted funds: Total unrestricted fuiids 1,303,074 238,208 (279,551) 1,261,731 (10,386) 152,294 (134,042) 7,866 Total funds 1,292,688 390,502 (413,593) 1,269,597 Purposes of R&stricted Funds Restricted grlts awarded to the cliarity is provided to cover die core objects as explained li) directors report. 13. Related Party Transaetions Destined Ltd is owed £6,432 from a comp&iy that has similar directors. Durllig the fjiiancial year Destined Ltd rnade payments totslling £6,649 for programine costs to a relative of a key maiiagement personnel. 14. Limited by Guarantee The company is limited by gUarltee and does not have a share capital. Page 15
Destilled Ltd (A eompany limited by guarantee) Not&8 to the aceollnts for the year ended 31 March 2025 15. Post Balanee She¢t events No significant events liave takeii place siiice the year eiid that would result in adjustsnents to 2025 fIn1claI infomiation or inclusioii of a note thereto. Page 16