Company registration number.. N1029941
Greysteel Communlty Enterpri8e•
Company lirnlted by guarantee
Fln4nclal 8tatement8
30 Septembor 2018

Greysteel Community Entgrprise8
Company Ilmlted by guaranteg
Contentg
Pag•
Legal and administrative informallon
Trustees, Report
Auditors, Report
Stslemenl of Flnancial Activities for the year ended 30 September 2018
Bal•nce Sheet as a130 September 2018
io
Note$ lo the Accounts

Greysteel Community Entgrpr15e$
Company Ilmlted by guaranteo
Legal and Admlnlstratlve Informatlon
Status
The organbsatlon is a charitable company limlled by guarantee, incorporated on 12th September 1995
and is recognised as a charity by the HMRC. The governing document is a Memorandum and Articles
of Association, updated as of 13th April 2015.
DlrnctorB .
Al8n Hunter
Mary McNicholl
William Bradley lappoinled 121031181
Brendan Dowdall (appointed 12103118}
Hugh Nicholl
Jo8nn8 Mcconway
Fran¢i$ Cassl¢Yy lappoinled 121031181
Bridget Mullin (appointed 121031181
Company SoGrgtary .
Mary McNlcholl
Audltor• & AGcountant• .
Fergus McAleer & Co
Chartered Accountants
Registered Auditors
31133 Clarèndon Streot
Derry
BT48 7ER
Maln 8onker8 .
First Trust Bank
Meadow 88nk
Strand Road
Derry
BT48 7TN
Sollcltorn
Paul D Thompson Solicitors
7 Locsge Road
Colgraine
BT52 1LU
Reg18tered Offlc• .
The Vale Centre
Clooney Road
Greysleel
BT47 3GE
HM Rgvenue & Customs Charity Reference No .
XR33827
Company Number..
N1029941
Charity Comrnission for Northern Ireland
NIC105809
Page 1

Greysteel Community Enterprlses
Company limited by guarantee
Trustee8' Annual Rèport Ilncludlng Dlrectors, Reporti
Year ended 30 September 2018
The Directors are pleased lo present their annual report together with the financial statements of the
Charity for the year ending 30 Septèmber 2018 which are also prepared lo meet the requirements for a
Directors, report and accounts for Companies Act purposes.
The financial statements comply with the Charities Act INI) 2008, the Ch8rilie$ (Accounts and Reportsl
Regulations INI) 2015, Companies Act 2006. the Memorgndum and Articles of Associallon, and
Accounting and Reporting by Charities.. Stslemenl of Recommended Praetise applicable lo charities
preparing their accounts in accordance with the Financial Reporting Slanosard applieable in the UK and
Republic of Ireland IFRS102118ff8clive 1 January 20151.
Dlr8ctor8 and tru8teo8
The directors of the charitable company Ilhe charilyl are the Iruslee$ for the purpose of charity law.
The truste85 during the year and al the 30 September 2018 were as follows..
Rosemary O'Donng11 (Resigned 051031181
Mary McNicholl
8rendan OowdalS (Appolnted 121031181
Alan Hunter
Patrick MGGinnis (Resigned 121031181
Joanna Mcconway
Hugh Nicholl
Sharon Proctor IRe81gned 121101181
William Bradley (Appointed 121031181
Franci5 Cassidy (Appointed 121031181
Bridget Mullln (Appointed 121031181
Objects and ActlvltS0•
The ¢harity'$ objects are specifically restricted lo the following..
11 To promote the benefit of the inhabitants of Greysleel and the surrounding environs wilhoul distinction
of age. gender, disability, sexual orienlalion, nationality, elhnlc identity, political or religious opinion, by
association the Slalulory aulhorilies, community and voluntary organisalions and the inhabitants in
common effort lo advance education, relieve povety and for the preservation and promotion of good
health, and in particular, bul not exclusively..
lo proviole recreational and leisure lime activities in the interests of social welfare for recreation or other
18isure-lim8 occupation, with the object of improving the conditions of life for the said inhabilanls.,
lo provide childcare facilities. meeting rooms. training, ¢onference and other facilities for the benefit of
Ihg comrnunity.,
to provide programmes of education and sport to develop the e8P8city. capability and $kill$ of young
people lo enable them to parti¢lpale In society as independent, Matu￿ and responsible individuals.
21 The promotion for the benefit of the public of urban or rural regener81ion in the socially and
economically deprived are8 of Greysleel and its surroUnd￿n9 environ5 by any of the following means..
the creation of employment opportunities by the provision of workspace, building5, andlor land for use on
favourable terms.,
the provision of re¢realional facilities for the public al large or those who by reason of their youth, age,
infirmity or disablement, financial hardship or so¢ial and e¢onomi¢ circumstances. have need of such
facilities-,
the promotion of public safety and prevention of crime.
Page 2

Greysteel Community Enterprls88
Company Ilmited by guarantee
Trustee$, Annual Report Ilncludlng DlreGtors' Report)
Year ended 30 September 2018
Roviow of actlvltlos In thg past ygar and plan• for the futur8
During the current year the Charity continued to work lo pursue its charitable objects in dlfferent ways and
has carried out the following aclivilie$ in the past year. All of our purposes are for the benefit of the public
in the Greysleel and Surrounding district, wilhoul distinction ol age, gender, dis8bility, sexual orientation,
nationality. ethnic identity, political or religious opinion,
Health and social well-belng are sllll very ￿ntral to the work of our charity and we Qonlinue lo offer
opportunities for physical activity through our community gym and outdoor playing fields. The charity uses
sport as a tool lo promote good relations and tackle sectarianism within our community. The charity runs
community-based inilialives to larg81 the marginalised young people within our local areas and use a
range of sports lo en9age them in conslruclive a¢livilies which they hav8 a passion for especially during
limes of heightened anli-8OCI81 behaviour or increased Gommunity tensions in the summer months. This
includes summer schemes, outreach work, after-5chool's club$, football lournamenls, extended school'¥
programmes and offerlng coaching qualifications and training opportunities for the unemployed loca
people. The charity also works with stslulory bodi85 suGh as the local council and PSNI lo engage young
people in particular in programmes aimed al reducing anti-social behaviour in the loeal area. The charity
also runs an off the slreot imilalive which provides personal development and physical activities for youth
during anti-social hours al the weekends.
Tho Charity runs a bèspoke limelable of classes which alms at reducing SOCIBI isolation within our
community. Examples of these are fitness classes for women who are unemployed, craft classe5 ft)r the
elderly. Zumba etc. Wilhoul these Se￿1¢e5 people have lo travel outside of their own area, which lead5 10
a disconnected community. These seNi¢e$ are a lifeline lo those who use them as often this is the only
lime they gel lo engage with others in the community. The direct benefit which flows from the preseNalion
and promotion of good health is that Ioc81 people will be taking part in aclivilles which improve5 their
general phy51cal health as well as mental health. The long-lerm benefit is that people's health will be
improved and therefore live a longer happier life. These benefits are evidenced through attendance ai our
variou5 filne5s, ￿CreatIOnal and soclal aetivitiès In our large indoor hall and also our filn8SS Sulte.
The dlrecl benefit which flows from th¢ advancement of educallon is that new skills are learned from
various prograrnmes lor all ages. The beneficiaries are more informed on clifferenl 9ubjecls and will be
able to apply these new skills. We provide meeting rooms and training and conference facilities 81so for
the use of olh6r communlty and voluntary organisalions to hold their various training programmes and
workshops. While all the community will have the opportunity lo benefit we also aim lo have specific
courses aimed al young people to help develop their capacity. capability and skills lo enable them to
participate in society as independent, mature and responsible individuals.
The direct benefit which flow5 from the relief of povety 15 that we are able lo provide classes and aclivi11gS
either free or at a reduced rate to those who would not otherwise attend through lack of means. Our
priority Is the benefit of all the community, and those that are least able to afford to attend our activities
are quite often those that would benefit the most.
The direct benefits which flow from the promotion of urban or rural regeneration in this socially and
economically deprived area include the relief of unemployment by providing retail units and workspa¢e on
favourable terms so that new businesses will be attracted to the a￿a, leading to better job and
employment prospects in the local area. We aim to do our best lo encourage new businesses lo locale al
one of our parks.
Page 3

Greystg01 Community Enterprises
Company Ilmtted by 9uarant•e
Trustees. Annual Report Ilncludlng Dlrectors, Roportl
Year ended 30 September 2018
In order to achieve ils targets of assisting those in need the Charity must continue lo maintsin and
strengthen its financia1 position. To this end the Charity can report that this year it has produced adequate
resources and has reported a gmall surplus lafter removing rSeprecialion charges) on 11$ ongoing
charitsble aclivilies.
Reserv•• pollcy
The directorsltruslees have reviewed the reserves of the company. This review encompassed the nature
of the income and expenditure streams, the need lo match variable income with fixed commitments and
the balanc8 and nature of the reserves themselves.
The direclorsrtru$lees have forecast the level of free reserves Ithal is those funds not tled up in fixed
assets and designated and reslri¢led funds) that the charity will require to sustain ils operations and meet
ils linan¢ial obligations over future periodg. They are satisfied that the reserves held are more than
adequate for these purposes and will contlnue lo monitor and review the funcls held to ensure that tha
existing and future charitable activities of the organisalion be funded from its re$ource8,
Rlsk managem•nt
The dlreclor8 have oxamineé the major slraleglc. business and operational risks which the eharlty faces
and Confirm that systems have been e$tablished lo enable regular reports to be produced so that Ihe
necessary steps oan be taken lo lessen these risks. Committees, where appropriat8. have been
851ablished to cover all risk areas and these committees report regularly lo the Board of Directors.
Ernployee Involv•m•nt and 9rnploym•nt of the dl•abl•d
Employees have been consulted on issu85 of ¢oncem lo them and have been kept inft)rmod on specific
matter$ directly by the Board.
In aG¢or4ance with the charity's equal opportunitiès poll¢y, the charity has established falr employment
practices in the recruilmenl, selection, retention and training of dlsabled staff.
Statom•nt of DlrectorB Ro8pon•lbllltl•s
The charity Iruslees (who are also the ¢Jire¢lors of the Greysteel Community Enl8rprises for the purposes
of company lawl are responsible for preparing a Iruslees, annusl réport and financial statements in
aGGordance with applicable law and regulation5.
Company law requires the directors lo prepare financial slalements for each financial year. Under that law
the directors have elected lo prepare the financial statements accordance with United Kingdom
Generally Aceepted Accounting Practice (United Kingdom Accounting Standards and applicable lawl.
Under company law the trustees musl not approve the finanoial slalements unless Ih&y are satisfied that
they give a true and fair view of the slate of affairs of the company and of the profil or loss of the company
for that year. In preparing these Ihe directors are required lo..
select suitable accounting policies and apply them consistently.,
make judgements and eslimales that are reasonable and prudent.,
observe the methods and principles in the Ch8rities SORP..
slate whether applicable UK accounting standards hgve been followed, subject to any material
departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless it is in8ppropriale lo presume that
the company will continue in business.
Page 4

Greysteel Communlty Enterpri8•8
Company Ilmited by guarantee
Trustees. Annual Report (including Diroctor8' Report)
Year ended 30 Sgptembor 2018
Thg directors are responsible for keeping adequate accounting records that are sufficient lo show and
explain the oompany's transactions and disclose with reasonable accuracy al any time the financial
position of the company and enable them lo ensure that the financial slalemenls comply with the
Companies Act 1985. They are also responsible for safeguarding the as5els of the company and hence
for taking reasonable steps for the prevention and dele¢tion of fraud and other Irfegularities.
In so far as the directors are aware..
there is no relevant audit information linformation needed by the company's auditors in connection with
preparing their report) of which the company's auditors are unawar8. and
the directors have taken all th8 slops that they ought to have taken lo m8ke themselves aware of any
relevant audit information and to 8slablish that the company's auditors are aware of that Information.
Audltorn
Fergus McAt8er & Co a￿ deemed lo be reappointed in accordance wlth Section 487121 of the Companies
Act 2006.
Small company provl8lon8
This report has been prepargd in aGGtsrdance with the provisSons applicable to companies entitled lo the
small companies exemption.
These financial slalemenls were approved by the board of dir6¢tors and aulhorised for Issue on 18
December 2018 and are slgned on behalf of the board by..
rendan Oowdall
Director
18 December 2018
Page 5

Greysteel Communlty Enterprises
Company Ilmited by guarantee
Independènt auditorfs report to the members of
Greysteel Community Entgrprise$
Year ended 30 September 2018
Opinion
We have audited the financial stslements of Greysteel Community Enterprises Ithe 'company'l for the year
ended 30 September 2018 wh￿ch comprise the Statement of Financial Activitie5. Balance Sheet and notes 10
the financial statements. including a summary of significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable low and United Kingdom Aceounting
Standards, including FRS 102 The Financial Reporting Standard 4pplicable in the UK and Republic of Ireland
(United Kingdom Generally Accepted Accounting Pra¢litsl.
In our opinion, the financial statements..
give a true and fair view of the slate of the Company's affairs as at 30 September 2018 and of ils loss for
the year then ended..
have been properly PTep8red in accordance with United Kingdom Generally Accepted Accounting Practice.,
and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for oplnlon
We conducted our audit in aecordance with International Standards on Auditing IUKI IISAS IUKII and
applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities
for the audit of the financial statements section of our report. We are indeper.dent of the company in
accordance with the ethical requirements that are relevant lo our audit of the financial slalements in the UK,
inclucling the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with
these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo
provide a basis for our opinion.
Conclusions relating to golng concern
We have nothing lo report in respect of the following matters in relation to which the ISAS IUKI require us lo
report to you where".
the directors, use of the going concern basis of accounting in the preparation of the financial statements is
not appropriate,. or
the directors have not disclosed in the financial statements any identified material uncertainties that may
cast significant doubt about the company's ability lo continue to adopt the going concern basis of
accounting for a period of at least ￿e1ve months from the date when the financial ststemenls are
aulhorised for issue.
Other Informatlon
The other information comprises the information included in the annual report. other than the financial
stslemenls and our au(Jilor's report thereon. The directors are responsible for the other information. Our
opinion on the financial statements does not cover the other information and, except to the extent otherwise
explicily staled in our report, we do not express any forrn of assurance conclusion Ihereon.
In connection with our audit of the financial statements, our responsibility is lo read the other information and.
in doing so, consider whether the other infomialion is materially inconsistent with the financial ststements or
our knowledge obtained in the audit or otherwise appears to be materially misstsled If we identify such
material inconsistencies or apparent maler121 misslatemenls. we are fftquired lo determine whether there is a
materi81 misslatemenl in the financial statements or a material misststemenl of the other information. If.
based on the work we have performed, we conclude that there is a material misstalemenl of this other
information, we are ￿QuIred to report that fact.
We have nothing to report in this regard.
Page 6

Greysteel Communlty Enterprlses
Company limited by guarantee
Independent auditor's report to the members of
Greysteel Community Enterprlses Icontinuedl
Year ended 30 September 2018
Oplnlons on other matters pre8eribed by the Companles Act 2006
In our opinion. based on the work underteken in the course of the audit."
the information given in the directors, report for the financial year for which the financial sl?temenls are
prepared is consistent with the financial statements,. and
the directors, report has been prepared in accordance with applicable legal requirements.
Matters on which wè are required to report by exception
In the light of the knowledge and understanding of the company and ils environment obtained in the course of
the audit, we have not identified material misslalements in the directors, report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to
report lo you if, in our opinion".
adequate accounting records h8ve not been kept, or relums adequate for our audit have not been received
from branches not visited by us.. Of
the financi81 statements are not in agreement with the accounting records and the returns", or
certain disclosures of directors. remuneration specified by law are not made.. or
we have not receivecl all the Inforrnalion and exp5analions we require for our audit., or
the directors were not entitled to prepare the financial statements in accordance with the small Companies
regime and lake advantage of the small companies, exemptions in preparing the directors, report and from
the requirement to prepare 8 strategic report.
Responsibllltles of directors
As explained more fully in the directors, responsibilities statement, the directors are responsible for the
preparation of the financial stslemenls and for being satisfied that they give 8 true and fair view, and for such
internal control as the directors determine is necess?ry lo enable the preparation of financial statements that
are free from material misslalemenl, whether due to fraud or error.
In preparing the financial stalemenls. the directors are responsible for assessing the company's ability to
continue as 3 going concern. disclosing, as applicable, matters related lo going concern and using the going
¢on¢ern basis of accounting unless the directors either intend to liquidate the company or to cease operations,
or have no realistic allernatr've bul to do so.
Auditor's responsiblllUe8 for the audit of the financial statements
Our objectives are lo obtsin reasonable assurance about whether the fin8ncial statements as a whole are free
from material misslalemenl, whether due to fraud or error. and to issue an sudilor's report that inclLJdes our
opinion. Reasonable assur8nee Is a high level of 8ssurance, bul is not a guarantee that an audit conducted in
accordance with ISAS IUKI will always (Select a material misstslement when il exists. Misslalements can arise
from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be
expected lo influence the economic decisions of users taken on the basis of these financial slatemenls.
As part of an audit in accordance with ISAS IUKI, we exercise professional judgment and maintain
professional scepticism throughout the audit. we also..
Identify and assess the risks of material misslatemenl of the financial statements, whether due lo fraud or
error. design and perform audit procedures responsive lo those risks, and obtain audit evidence that is
sufficient and appropriate lo provide a basis for our opinion. The risk of not detecting a material
misstslemenl resulting from fraud is higher than for one resulting from èrrtsr, as fraud may involve collusion,
forgery, intentional omissions, misrepresenlal'ons, or the override of internal control.
Page 7

Greysteel Community Enterprises
Company limlted by guarantee
Independent auditorfs report to the members of
Greysteel Community Enterprises Icontlnuedl
Year ended 30 September 2018
Obtain an understanding of internal control relevant lo the audit in order to design audit procedures that are
appropriate in the circumstances. but not for the purpose of expressing an opinion on the effectiveness of
the internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting eslimales
and related disclosures made by the directors.
Conclude on the appropriateness of the directors use of the going concern basis of accounting and. based
on the audit evidence obtsined. whether a material uncertainty exists related lo events or conditions that
may cast signifi￿Nt doubt on the company's ability lo continue as a going concem. If we conclLJde that a
material uncertainty exists. we are required lo draw attention in our 8uditor's report to the related
disclosures in the financial statements or, if such disclosures are inadequate, lo modify our opinion. Our
onclusions are based on the audit evidence obtained up lo the dale of our auttilor's ￿pOrt. However.
future events or condib'ons may cause the company lo cease lo continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the
disclosurès, and whether the financial ststemenls represent the underlying transactions and events in a
manner that achieves fair presentation
We communicate with those charged with governance ￿garding, among other matters, the planned scope
and liming of the audit and significant audit findings, including any significant deficiencies in internal control
that we identify during our audit.
Use of our report
This report is made solely to the company's members, as a body, in accordan￿ with Chapter 3 of Part 16 of
the Companies Act 2006 Our audit work has been undertaken so that we might st81e lo the company's
members those matters we are required to slate lo them in an auditor's report and for no other purpose. To
the fullest extent permitted by law. we do not accept or assume responsibility lo anyone other than the
company and the company's members as a body, for OUT audit work. for this report, or for the opinions we
have formed.
-Pfy-
Conor McAteer (Senior Stslutory Auditor)
For and on behalf of
Fergus McAleer & Co
Chartered Accountants and Registered Auditors
31133 Clarendon Street
Derry
BT48 7ER
CHARTERED
18 DEC 2018
ACCOiN-,ANTS
18 December 2018
Pago 8

Greysteel Community Enterprise8
Company Ilmited by guarantee
Statement of Financial Activities
{in¢luding Income and expenditure account)
for the Year Ended 30 September 2018
Unrèstricted Restricted
Funds
Funds
Tota15
2018
Totals
2017
Notes
Incoming:
Donations and legacies
50
50
1,395
Income from charitable activities
29,086
29,086
43.496
Income from other trading acts"vilies
176,658
176,658
175.754
Other income
Total
11,618
188,326
2.541
31,627
14,159
219.953
11.272
231,917
Expenditure:
Charitable activities
112,456
95,316
207,772
210,980
Costs of raising funds
Total
69.391
181,847
2.466
71,857
279,629
73.222
284,202
Net income
6.479
166,1551
159.6761
152,2851
Transfgr b•tween funds
13,2051
3,205
Net movement in fund8
3,274
162,950)
159.6761
152,2851
Total funds brought forward al 1 October 2017
25,810
2,970,581
2,996,391
3,048,676
Total funds carried forward al 30 September 2018
29.084
2.907,631
2,936,715
2.996,391
The Statement of Financial Acti'vits'es includes all gains and losses re¢ognised in the year.
All income and expenditure derive from conlinuiftg activities
Page 9

Groyst6el Community Enterprises
Cornpany Ilmlted by guarantee
Balance She•t a$ at 30 SepteM￿r 2018
Unrostrlcted Restrict•d
Funds
Fund8
Total8
2018
Totals
2017
Note8
Flxed Assets
Tangible Asset$
Total flxèd assets
67.962
67.962
2,898.942
2,898,942
2,966,904
2,966,904
3,034,835
3,034,835
Currgnt A88•t8
Debtors
Cash al bank and in hand
Total curr•nt •$set•
10
5,981
9,035
15,016
4,368
4,321
8,689
10,349
13,356
23,705
9,988
6,444
16,432
Credltorn.. amount• falllng due
wlthln on• year
11
50,381
50,381
49,488
Not ¢urr•nt as8ets
135,3651
8,689
126,8761
133.0581
Total assets I￿9 ¢urr•nt Ilabllltl•8
32,S97
2,907,631
2.940,228
3,001,779
Credltorn: •mount8 falllng du•
aft•r on• year
12
13,S131
13,5131
15.3881
Net a81•ts
29.084
2,907,631
2,936,715
2,996,391
Tho funds of tho charlty
Fund•
15
29,084
2,907,631
2,936,715
2,996,391
These financial statements have been prepar8d accordance with tho provisions applicable lo
companies subject lo the small companies, regime anos in accordznce with FRS 102 'The Financial
Reporting Slandord applicable in the UK and Republic of Ireland,,
These financial statements were approved by the board of direGlors and authorised for issue on 18
December 2018. and are signed on behalf of Ihg board by..
rendan Dowdall
Director
Mary Mc
Director
Page 10

Greysteel Community Enterprlses
Company Ilmlted by guarantee
Notes to the flnancial staternents
Year ended 30 September 2018
General Informatlon
The company 1$ a private company limited by guarantee. registered in Northern Ireland. The address of
the registered offioe is The Vale Cenlre, Clooney Road, Greysleel, BT47 3GE.
A¢¢ountlng poll¢lo8
Ba818 of prep#ratlon
The financial slalem8nts have been prèpared in accordance with Accounting and Reporting by
Charitie$.' Sialemenl of Recommended Poctice applicable to charities preparing their accoun15 in
accordance with the Financial Reporting Standard applicable in th8 UK and Republic of Ireland IFRS
1021 leffectlve 1 January 20151 (Charities SORP IFRS 10211. the Financial Reportino Standard
applicable in th8 UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
Greysleel Community Enterprises rneels the definition of a public benefit entity under FRS 102. Assets
and liabilities are initially recognised al historical ¢ost or transaction value unless otherwise stsled in the
relevant accounting policy nolelsl.
The financial statements are prepared in steding, which is th• functional currency of the entity.
Turnov•r
Turnover repre88nts the total value of grants reGgivgd and receivable a5 well as other income arising
from other operating and fundraiS￿n9 activities during the year. Grants are recognised in the Profil and
Lo55 account when the conditions for their receipt have been complied with and there is ￿asOnable
assurance that the grant will be received.
Income from government and other grants, whether 'capilal' grants or 'revenue' grants, is recognised
when the charity has enlitlemenl lo the funds. any porformance conditions alla¢hed lo the grants have
been mel, il is probable that the income wlll be raceived and the amount can be
m98sured reliably and is not deferred.
Taxatlon
During the current year the company has only been involved in charitsble activities in furtherance of ils
oharilable objects and is not liable lo Income Tax or Corporation Tax.
Tangibl* a888ts
Tangible assets are initially recorded at cost. and are subsequently slated at cost less any accumulated
depreclation and imp8irment losses.
Depreclatlon
Depreciation is calculated so as to write off the cost or valuation of an asset. less its residual value,
over the useful economic life of that asset as follows.,
Land
Buildings
Short le8sehold property
Plant and machinery
Fittings fixtures and &quipmenl
No depreciation
2%
slraighl line
slraighl line
straight line
straight line
25%
100
If there is an indication that there has been a significant change in depreciation rate, useful life or
Sidual value of tangible assets, the depreci8tion is revised prospectively lo reflect the new estimates.
Page 11

Greysteel Community Enterprises
Company Ilmited by guarantee
Note¥ to the flnancial statements Icontinuedl
Year ended 30 September 2018
Hlre purchase and flnance leases
Assets held under finance leases are recognised In the statement of financial position as assets and
liabilities at the lower of the fair value of the assets and the present value of the minimum lease
payments, which is determined at the inception of the lease térm. Any initial direct costs of the lease are
added lo the amount recognised as an asset.
Lease payments are apportionèd be￿een the financg charge$ and reduction of the outstandin9 lèasè
liability using the effective interest mèthod. Finance charges are allocated to each period so as lo
produce a constant rale of interest on the remaining balance of the liability.
Flnanclal Instruments
A financial asset or a financial Ilability is recogni58d only when the company become$ a paty lo the
conlraelual provisions of the instrument.
BasiG financial instruments are initially recognised al the transaction price, unless the arrangement
conslitules a financing transaction. where it is recognised at the present value of the future payments
dlscounled al a market rate of interest for a similar clebl inslrumenl.
Doflnod contrlbutlon plans
Contributions lo defined conlributlon plans are recognlsed as an expense in the period in which the
rèlated service Is provided. Prepaid eonlribulions are recognised as an asset lo the exlenl that the
prepayment will lead to a reduction in future payments or a cash refund.
Llmlted by guarant8•
Greysleel Cornrnunity Enlerprlses18 a rggi5tored charity limilgd by guarantee,
HMRC Charity Reference Number., XR33827
Northern Ireland Charity Commission Number., NIC105809
Fund8
Uftr8strlcled Revenue Fund$-
comprise those revenue funds which the management ¢ommittee
are free to use in accordance with the company objeGlive$.
Restricted Revenue Fund5 -
¢omprise those revenue funds which have been given for particular
purposes and projects.
Unrestricted Capitsl Funds-
comprise those nel assets which the trust is able to apply freely in
pursuit of ils own charitable objectives and related purposes.
Reslricled Capital Funds
comprise thos8 net assets which al the end of the a¢counting
period have specific grant and other conditions reslricling either
their use or their disposability for defined periods.
Page 12

Greysteel Community Enterpr5se8
Company Ilmlted by guarantee
Notes to tho flnanclal statem•nt8 Icontlnugdl
Year 8nded 30 Septembor 2018
3. Income
Unrn$trl¢tsd Restrlctod
Fund6
Funds
Total
2018
Total
2017
Donatlon8 & legacles
Donations received
50
50
50
50
1,395
1,395
InGom8 from charltable actlvlt1•6
Causeway Coast and Glens 8orough Council
Communlty Foundation Nl - Happy mums
Community Foundallon Nl - Social Connected Project
Causeway Coast and Glens Borough Council-PCSP
USEL
The Honour3bl8 Irish Society
Foyle Community Work Programme
Halifax
The Education Authorlty - T..BUC
Garfield Weston Grant
Total
3.900
3,900
3,500
2,500
5,000
4,003
1,300
500
11,929
4,000
10,764
7,030
825
7,030
825
1.641
4,000
1.690
10,000
1,641
4,000
1,890
10,000
29,086
Income from other tradlng a¢tlvltl•s
Fitness Suite
Centre Fundraising Activities
Rentsl of Units
Total
21,137
84,753
70.768
178,658
21.137
84.753
70,768
176,658
21,353
90,388
64,013
175.754
Other Income
Other Income
11,618
11,618
2.541
2,541
14,159
14.159
11,272
11,272
Operatlng Io¥B
Operating loss is staled after ¢hargingllcredilingl'.
2018
2017
Depreciation of tangible as9ets
(Gainllloss on disposal of tangible a8sel$
Impairment of trade csebtors
Fees payable for the audit of the financial ststements
71.047
68,643
1991
45
3,300
3.465
Page 13

Grey8teel Community Enterprises
Company limited by guarantee
Notes to the financlal statements l¢ontlnuedl
Year ended 30 September 2018
Expenditurè
Un-rnstrlcted
Funds
Re8trlctod
Fund8
Total
2018
Total
2017
Expendlture on ¢harltable actlvltl•8
Wages and salaries
Employer's social security contributions
Staff pension costs - defined ¢onlribulion
Staff training
Rates
Cleaning
Repairs and maintenance
Small equipment
Printing, postage, advertising and
Telephone
Hire of equlpmenl
Motor & travel oxpenses
Bank charges
Bad debts
Dlscounls recoived
Subscriptions
Othèr interest payable and simi18r
Insuranc8
Light and heal
Fundraising & ovenls expenditure
Programmo costs
Depreciation of tangible asse15
Gainlloss on di5POsal of tangible assets
Total
46,910
4,982
1,597
1,427
1,176
1,971
10,383
463
1,809
2,341
1S0
1,297
2,085
14,000
60.910
4,982
1.597
1.427
1,176
1,971
10,383
463
1,809
2.341
150
1,297
2,085
56,268
4,399
335
688
3,526
1,798
13,607
377
1,992
2,841
271
703
1,714
45
202
309
179
9,804
24,426
2.560
16.591
68.643
1991
210,979
46
267
267
9,713
20,105
1,035
9,713
24,005
3,235
8,868
71,047
3,900
2,200
8,868
66.348
4.699
112,456
95,316
207.772
Expenditur• on ralslng lunds
Wages and $8laries
Employer's social security Contributions
Staff pension costs- defined conlTrbulion
Rent payable
Clothing Costs
Vending machine expen¢Jilure
Computer costs
Legal and professional
Consullan¢y fees
Auditors remuneration
General expenses
Hire purchase interest
Interest on overdue taxation
Total
55,086
1.053
890
1,000
2,468
57,552
1,053
890
1.000
60,017
1,008
18
1.000
323
2,706
2,449
80
500
3,300
1,506
313
2,846
2,615
40
2,846
2,615
40
3,465
2,091
300
3,465
2,091
300
69,391
2,468
71,857
73,222
Page 14

Greysteel Community Enterprises
Company Ilmlted by guarantee
Notes to the flnanclal 8tatem•nts Icontlnu8dl
Yoar ended 30 Septembgr 2018
Staff costs
The average number of persons employed by the company during the year, in¢luding the directors,
amounted lo..
2017
2018
Management
Admin and Cleaning
Car bool
11
16
17
The aggregsle payroll costs incurred during the year were..
2018
2017
Wages and salarie$
Social security eosls
Other pension costs
118.461
6,035
2,487
116,286
5,407
353
128,983
122,046
None of th8 Iruslees have been pald any remuneration or received any other payment from an
employment with the charity.
None of the Irusloes have had expenses reimbursed in the year.
The key management personnel of the eharity compdse the trusteès. Manager and the Finance
Officer. The lolal benefits of th8 key management personnel of the charity was £47,671130 September
2017 - £46.2741. No employees re¢eived lolal benefit5 amounb'ng lo more than £60,000 in the yeaf
ended 30 September 2018130 September 2017 - none).
Pago 15

Greysteel Community Enterprlses
Company Ilmltod by guarantee
Notes to the financial $tatements Icontlnuedl
Year ended 30 Sopt•mber 2018
Tanglble assets
Freehold
propety
Long
leasehold
property
Short
leasehold
propety
Plant and
Fixtures,
machinery fittings and
equipment
Total
Cost
Al 1 October 2017
Additions
2,831,532
971,065
40,594
11.200
350
151,985 4,006,376
2,765
3,115
At 30 S8ptembor 20182,831,532
971,065
40.594
11,550
154,750 4,009,491
Depreci4tlon
Al 1 October 2017
Charge for the year
At 30 Soptember 2018 894,009
Carrylng amount
At 30 September 20181,937,S23
AI 30 September 2017 1,994.154
837.378
58.631
8.244
812
629
2,807
125.291
10,797
971,542
71,047
9,056
3,438
136,088
1,042,589
971,065
31,538
8,114
18,662 2,966,902
971,065
32,350
10,571
26,694 3,034,834
Obllgatlons undèr flnance lea•oS
Included within the Carrying value of 13nglble assets are the ft>llowing amounts relating lo assets held
under finance leases or hire purchase a9reemenl$'.
Plant and
machinery
At 30 Sept8mber 2018
AI 30 Septembèr
2017
7,771
10,571
10.
Debtorn
2018
2017
Trade debtors
Other debtors
3,407
6,942
6.614
3,374
10.349
9,988
Page 16

Greysteel Community Enterprises
Company limlted by guarantee
Notes to the flnanclal statements Icontlnuedl
Year ended 30 September 2018
11.
Credltors: amounts falllng due withln ong year
2018
2017
Bank loans and overdrafts
Tr3de creditors
Social security and other taxes
Other creditors
3,264
9,122
6,742
31,2S3
6,601
6,670
3.707
32,510
50,381
49,488
12.
CredStors: amounts fallln9 due after more than one year
2018
2017
Other creditors
3,513
5,388
13.
Obllgations under flnan¢g leases
Company lessee
The total future minimum lease payments under finance lease agreements are 85 follows..
2018
2017
Not later than 1 year
Later than 1 year and not la18r than 5 years
2,100
3,725
2,100
5,825
5.825
14371
7.925
17371
Less.. future finance charges
Present value of minimum lease payments
5,388
7,188
14.
Employee benefits
The amount recognised in profil or loss in relation lo defined contribution plans was £2,487 12017..
£3531
The defined contribution liability is allocated lo unrestricted funds.
Page 17

Greysteel Community Enterprise8
Company limited by guarantee
Notes to the flnan¢ial 8tataments Icontlnuedl
Year ond¢d 30 Septembor 2018
15.
Analysls of ¢harltable fund$
Analysls of movements In unrestrlcted fund8
8alancg at In¢omlngRe8our¢g8
Funds at
1 O¢t'17 Rgsour¢•• Expended Transfern 30 Sep '18
General Fund
25,810
188,326 1181.8471
13,2051
29.084
25,810
188,326 1181.8471
13,2051
29,084
N•m• ol restrlctgd fund
General Funds
De8crlptlon ol tho Fund
Funds which the trust is ablo lo apply freely in pursull of its own
charitsble objectives and related purp05es.
Analysls of mov•ment• In re•trl¢tod fund•
8alanco 4t IncomlngR6sourco8
1 O¢t'17 Resour¢o5 Expondod Tr4n$f•r8
Fund8 Ilt
30 Sep'18
Reslricled Fund
2,970,581
31,627
197.7821
3,205
2,907,631
2,970,581
31,627
197.7821
3,205
2,907,631
Name of re8trlcted fund
Reslricled Fund
De•crlptlon of the Fund
Funds which the Trust applies for particular purposes and projects
in pursuit of its charitsble objectives.
An•ly81• of not aB8•t8 b•tw•on fund•
Gfjneral Restrlcted
Fund
Fund
Total
67,962 2,898,942 2.966,904
9,035
4,321
13,356
5,981
4.368
10,349
150,3811
150,3811
3,5131
13,5131
Fixed Asset$
Ca$h at bank and in hand
Other current assets
Current liabilities
Long term liabilities
Total
29,084 2,907,631 2,936,715
Pago 18

Grey8teo1 Communlty Enterprises
Company Ilmltèd by guarantee
Notes to the financial statements l¢ontinuedl
Yoar ended 30 Septembgr 2018
16.
Related party tran$actlon8
During the year the company entered into the ft)Ilowing tran$a¢tions with related parties.,
Transaction value
2018
2017
8alance owed byllowed lol
2018
2017
Directors loans
3,500
7,000
15.5001
19,0001
During the year ended 30 September 2018 the ¢ompany purchased goods lolalling £Nil from
company connected to one of the directors on commercial terms al arms length130 September 2017
£7,003).
Page 19