Company Number: Nt026020 Cbsrity Number: IYIC106926 Creggan Enterprises Limlted (A compftny Ilmlted by guarantee) Flnan¢ial slatements ror Ihe year eDded 31 December 2023
CreggaD EDterpri5es Limited (A Company limited by gu2rantt¢) Cont¢nt5 Page Cliarity Infomiation Directors R¢port 2-11 Lndependent Auditors Report 12-16 Statement of Financial Activlties 17-18 Balance Sheet 19 Statcment of Cgsh flow 20 Note5 to tli¢ Financial Statements 21-33
Cregg2n Ei nterprises Limited (A company limited by guarantee) Information Dlreclors Joseph McFeety Anne Molloy Sean Canavan Garbhan Downey James Nash Shauna Nixon Jolin Bradley Garvan O'Doh¢rty Brendan M¢Keever Appointed 24 February 2024 Appolnled 23 February 2024 Appointed 31 O¢iober 2023 Appointed 22 June 2024 Reslgned 19 October 2023 Resigned 23 February 2024 Resigned 15 Decembcr 2023 Secretary Joseph McFeely Company No: N1026020 ChArlty No: NIC106926 Registered 01¢¢ Rath Mor Centre Bllghs L4n¢ Derry BT48 OLZ Audltors McGroarty Mccafferty & Company A¢¢ountants & Registered Auditors 2 Corlisle Terrac¢ Dery BT48 6JX Banker3 AEB (NI) Meadowbank Strand Road Derry BT48 T]74 SDlicitors Brendan Keamey & Company 4 Clarendon Sireet Derry BT48 7ES Page I
Cregg2n Enterprise5 Limited (A company limited by guarantee) R¢port to the Directors for the yeAr ondcd 31 December 2023 The directors present tlieir r¢port and the financial statements for the year ended 31 December 2023. The directors of Creall Ent¢rpri5e5 Limited for tli¢ purposes of company law and who scrvgd during th¢ year and up to the date of this report are as follows: Joseph McFeely Shauna Nixon. Appointed 22 Jun¢ 2024 AnnB Molloy John Bradley - Resigned 19 October 2023 Sean Canavan - Appointed 24 February 2024 Garvan O'Dohety- Resigned 23 February 2024 Garbhan Down¢y- AppoAnted 23 February 2024 Brendan McKeever- Resigned 15 Derxmber 2023 James Nash - Appoint¢d 31 O¢iober 2023 Our Alms and Obj¢ctivcs Creggan Enterprises Limited runs the Rath Mor Complex in Derry, which offers a variety of multi-purpose workspace units for rent on very favourable terms. They provide support packages for ncw businesses and ¢ncourdgo the development of social partnerships and sustainable businesses, promoling equal opportunities for oll. Creggan Enterprises Limited delivers a number of dedicated social programmes catering for a range of community needs. Creggan Enlerprlse Limited key focus Is the physic81, eeonomic and social regeneration of deprived communities through the provision of a wide variety of programines I services whlch support economic and social inclusion. Crcggan EF]t¢Tprise Limitcd focus on: Strateglc Prlorfty l - Pljyslcal rcgenerAtlon: Tlirough il)e creation of employmenL upskllling and training opportunitio5 by the provision of workspa¢¢, buildings. andlor land for use on favorable temis. Slrategic Priority 2 - Economi¢ regenerntion: - Through the r¢li¢f of financial hardship and unemployment: Through the provision of financial assistance. technical assistance or business advice or consultancy in order lo provide training and ¢mployrnent opportunities for un¢mployed peopl¢: Strategic Priority 3- Social rogeneratlon: through the advanceinent of educfttion, training or retraining; the provision of trauma support services. coun5¢1ing and wellbeing program5: the provision of intemiediation. pea¢e-buildin8 and re¢on¢iliation support service and programs; the provision of personal development programs and dedlcated support a¢tivltles for young people. the provision of a neutral community venue? providing ae¢¢ss to a range of free educational, wellbeing, cultural. heritage and digital support programs, activities and ¢vents for all ages and b8¢kgrounds. Specific programmcs Includo: The Lifehack project ivhich works creatively to support at risk young people; The Community Coliesion & Reconcilialion Programm¢ which helps rebuild community relations on a cross-community and cross-border outreach basis" Revival Shared Space Project wliich delivers free community-ori¢nted cultural events and provides a range of cross-community engagement opportunities; Page 2
Creggan Enterprises Limited (A company Jimitcd by guarantee) Focus Project which supports disadvantaged and hard-lo-reach families (and young ivom¢n in particular) willi e&8ential needs and to build their CApacity to engago in community d¢vclopment' Th¢ Cominunity Dialogu¢, Momentum & Community Inclusion Programs which support marglnalis¢d ¢onstituenci¢s, builds community Gaparity, promot¢S SOGial justice, supports trans5llon and works in a mediation capacity la build Inclusive peaceful communities: Crcggan Enterprises Limited also host ond supports ihe Hive Studios, (a Community dlgiial hub and OCN training rxntre), Ili¢ Rath Mor Ovcr 50's club and Creggan Old¢r Mens, club at Ratl) Mor providin8 a wide ronge of educational, social. divcrsionary. inter-generational and Capacity building opportuniti¢$ for the community. Creggan Enterprises Limited Key A¢tivili¢s & A¢hlevements - during 2023 Strateglc Prfority l & 2 - Phy51¢al & Ei conomle regenerallon: Creggan Enterprises Limited continued io provide opportunitie5 and support for physical and economic development of tli¢ Creggan area. Cresgan Enterprises Limited focused on in¢re851ng employment and engagement with those exeluded soclally and economically through the provision of Rath Mor as a niultl-purpose community facility (offerlng a range of critical 2nd essentldl community services l opportunitles) and via the promotion of local ownetship and sooial Inve5tm¢nt and our diregt support for social ¢ntcrpris¢s and indlgenous businesses. Rath Mor remains open (seven days per week) to provide critical community Infrastructure and cssential services. including: BaJvieNv Medical Practice; Oaktree Centre (daycare centre for adults with complcx nccds): Small World Nursery: Eurospar Sup¢rmarket. Creggan Post Office. Medicar¢ Pharmacy: Foyle Foot & Ankle Clinlc. NI Cliildrnn's Hospice: and M¢Clafferty's funeral dirtorS to name a few. This support included a broad range of operational 5UPPOrts in r¢lation to: busincss tnodel support (structurin8 and govcrnance support); tlie researclvdes1VdeVe1OpMent of speclfic products and s¢rvl¢es; operational support 4¢tivities; markclin8lproinotin8: Sourcin[¢50urc1ns> grant ald etc. Over the period wc continu¢d to 5UPPOrt the resourcing? Sustainability, scaling and development of a number of small businesses, charities and social ¢nterpris¢s on the site severely impacted by austerlty and the Cost of Living crlsls, Creggan Enterprises Limited enable and support some 50+ projects, buslnessos and charities on the site. 4 brand new projects w¢re given significant start-up I development SUPPOrt during this period. Over 250+ peoplB are employed on the siie 8cross all the projCclsuslnCsse5. Some 40+ volunt¢er5 were developed and supported throughout the same period (Across all the programmeslprojecls). Some 15.000 people (customers. clients r¢5idents, patients. tenants, worker4 pupil families) us¢ Ilie fa¢iliti¢s on th¢ Rath Mor site on a weekly basis. The benefits accruing from these activities lo the wider Community - in addition to contributing to tlie general physical and ¢conomi¢ renewal of a deprived area include the generation of new social capital, and the SU51ain4bility of employment aiid locali5¢d services (during a time of Breut uncertainty and need). Creggan Enterprises Limited continued work in this area increases the likelihood of Incred t&rgeted servicing (mecting those most in need - Ivliere they are at) and attracting increased economic and social investment in the community and a greater Uptske in economic opportunities by local residents - leading to an overall increase in ¢omn)unity prosperity and linked benefits in relation to the development ofgenerational wealth and equity. Page 3
Creggan EDterpri5e5 Limited (A company limited by guarantce) The centre also provides free spa¢c in the mall (in in our conference rooms upstairs) for other coinmunity groups, residenls groups, statutory s¢rviC¢S and housing agenciesl&ssociations to raise funds or aivareness about their 5ervic¢s. dcliv¢r services, promote Community campaigns or carry out community engagementlsutveys (some 40+ throughout thc p¢ri(xl). Groups ¢nabl¢d over this period include.. Housin8 Ex¢Gutiv¢. Apex Housing Association, Foyl¢ Hospice, POCA, OLT, Desllned, BBI. Triax, Nl Hospi¢¢, BSMQ Sean Dolan's GAC, Ballymoor rc, Trojans FC, CNP, NW Counsellin& FODCC. Alliance for Clioice, NWRC. Derry Credit Union. Foyle food Bv4nk, Nl Antl-Poverty Network, Repair Café Foyle, CCP, Derry Trade Union Council, Women's Centre D¢rry. Success Nortli West, Surestart, Soclal Supem]arket. St Joseph's Boys, School, QUB, NW fioster Car¢ A550¢ialion, Bryson House, DUG. Foyle Deaf A&sociation, Red Cross. Foyl¢ Search & Res¢ue, Dlabetss UK, Bligh's Lane Nursery School. Stratcglc Priority 3 . Social regeneratlon.. Throughout 2023 Creggan Enteryrises Limited continued to fulfil lis anti-povety (relief of financial hardship) remit via our local susl2ln&ble food bank pipeline and Rath Mor voucher scheme (ac¢e5sing additional rundIndOnatiOnS to provide cost of living supports). Our individual prOarnmeS also provided a rdng¢ of sarvices and (in-person, onlinc and rcfcrral) supports for th¢ community at tliis time, including: food/fuel poverty supports. Creggan Enterprises Limiled Focus project: also worked towards relieving finkncial hardship and contributing to communlty wellbeing over ihe period. Working witli 20+ families Focus addressed mony family-oriented needs and crisis over the period (and focused particularly on supporting panIS during the COL crisis). Focus addressed key issues such as developing womens participation, community development. challengin8 relationsliips, womens, heolth, domestlc abuse. fvel, food and perlod poverty. Focus reached out and worked with a number of partners (and complementary servlces) over the period, including; Easi Eme Empowered Women, Ealu Women'5 Group, Spark lKland, Notional Wom¢ns Couiicil of Ireland, ICCL, CAJ. NEIC. Migranl Centre Nl, Unison, DTUC. NIHRC. ICRC, Alliance for Choice, Ratlicoole Crelv Womens Group, EmpowerHer, Neivpin Family Support, Family Support Hub, Anti-Poverty N¢twork. Bryson Group. The Womens Cenlre (Deny), Nexus Nl, Womens Advocacy Project. K¢y aetivitios and succosses over thc pcrlod lllcluded: The sustained and intense engagement of a group of som¢ 30+ women (and families) over the perlod. The wid¢r engagement and support of 500+ women and families over the period. - The delivery of 40+ workshops. day-trip5 and events. The delivery of I participation in aLredted andlor structured training on: ACES ( Ir2rrrr), Substance Misuse {Ascert]. Human Righls and R¢silicnce Training [Helen H¢nd¢rson]. Development and involvement in the Noihing About Us Without Us, Women's Health Strategy in a530¢iation with CFNI. The delivery of a series of l)igli profile publlc events (held in tha mall) covering: Cost of Living. Period Poverty. Violence Against Women, International Women's Day. Women's perspectives of the Good Friday Agreement, Women's Rights and Women's Health. H05ting of a Hustings Event (focusing on Women's issues). The development and showcasing of a video project highlighting thc cxperlenees of marginalised families. Page 4
Creggan EDterprise5 Limited (A company limited by guarantce) The significant development of a nuinber of project volunteers (supporting one to s¢¢ure a bursary ivliicli pays for her to complete a Degree in Cominunity Development - through Apex Housing AOCiatIOn. one to deliver facili12tion training (craftivork). and one to s¢¢ure fa¢ilitation iyork and lier own grassroots leadership programme fundin8 to deliver a number of small community programmes alon8side Foous). Coordinator ac¢eptanc¢ onto ihe AMBIT (Washington Ireland Programme) - a two-week study visit to the USA funded by IFI. The developinenl of a very successful Free Unifonn recyc11nreUse scheme (supporting 200+ fomili¢5 over ihe period). Also dcvelopcd a Winter Coat & Free Siationery (return to school) Scliemes (supportin8 1 S0+ farnllics). In rcgard to our aim to provide couns¢lling I wellbelng support: Creggan Enterprises Limited continue to support th¢ work of Northwest Counselling (who avail of one day per week free fa¢iliiation at Rath Mor), and support for tlie work of Bayview Medical Practice and the Condition Management Programme (%vho both offer Counselling servlces). We also provide a krviced space free of charge to the WHSCT Mobile Breast CliniG at the rear of the Centre for 3 months per year io provide this critical service to local patients. In regord to our peace-building¥ medlatlon and reconclllatlon remit over the period our 'Communlty Dialogue Programme, Momenium and Community Inclusion Programme, (fundcd by JRCT, DFA and Iri) worked on very specific community issues to de-escalate tensions and mediate solutions: caTry Out spocifio interventions in specific seasonal evenLq (i.e. during Bonfirelmarching season); promote dialogue and transition; and r¢-image communities affected by socl(xconomic disadvantage and the legacy of the conflict. These prognMe5 seek to support the advancement of peace, communlty relatlons. confllct resolution and reconciliation ivithin ihe commuiilty we serve and go somo WAY to rclioving thc sulTering, povcrty and distrcss arising through conflict whilst also seeking to dcvclop and inspire civic values and encourage voluntary and Community activity. Working with young people and otlier cominunity slak-cholders throughout the period - to develop harni dUCtion interventions Ihat focus¢d on protcccing 'P¢rson, Place & Property, and stimulating Gommunity pridg. The programmes also support¢d 'transition' as a means of effective post.confll¢t community transformalion. This benefit of this work is evidcTrced by individual participant progress and on a wider basis by a reduction In ommunity unrestlhann. Cre8gan Cnterprises Limited worked with key statutory and community stakeholders IA th¢ d¢liv¢ry of this work, u well as NGO'S and humanitsrik]n organisatlons (such as ICRC). Cregg8n Enterprlses Limited dedicated Coinmunity Cohesion & Recon¢lllatlon Programme focused on repalrlng and bullding new relatlonshlps with communities on a cross-community and cross-bordor basis . developing a number of diver5¢ usergroups and undertaking a wide range of cngagoment worK including: cross-communityl good relations I re¢on¢iliation I herita8e / cultural I legacy workshops, site vlsits, immigrationlemigration progr8mming> creative %vriting work and Inulti-Gultural engagemenL Koy 4ctAvitio$ and sueeesses over the period IDeludod: Some 350+ people avttiled of services and interventions in respect of this work over the period (CIP). Some 60+ people attained accredited training I quallficatlons through these programmes (CIPIMomentum). Soine 60+ people availed of employinentltransition supports (CIPIMomentum). - A number of importantlstrategic policy papers and reports were dcveloped during the period (CDPIMomentum). - A number of new cr05s-wminunity linkagcs and parlicipant groups liav¢ been developed (CCRP). 250+ people have engaged in cr055-community reconciliation work (CCRP)- Page S
Creggan Enterprises Limited (A conipany Iimiled by guarantee) Our Youth Programme Lifehack, funded by IFI, worked intensively to support the development and wellbeing of a cohort of 30 young p¢ople over the period, many of ivhom are marginalised and vulnerable. The progrdmme provided a nuniber of individual supports. social opportunities and a rang¢ of accredited training and good Telalions opportuniti¢s - in pursuance of its core personal dev¢lopm¢ni obJtIVeS. Lifehack also delIv¢d a range of educational programming in an effort to advance positive inter and intra-community relations. ULtimakly Lifehack's support for young people s¢eks to bring about a meaningful and positive Intervention in th¢ lives of young people with a varicty of differing and complex needs and within a cross-community good relations framework. The project reports its work on a quartcrly basis to the funder and the benefit of this work is clearly evidenced by the reduction in antiasocial activity in and around the area, and the number of young people in Ilie area who have built positive relationships within their community, found work and made positive life choices. This in turn ben¢filS not only ihose Indlviduals bein8 SUPPOrted, but their wider family units and the communities in wlii¢li they r¢slde. Lifehack also delivered a dedicated summer diversionary programme for young people across tlie City and a rnnge of reimaging and Oneff ndayS and charity fundraising events. Key activitie5 and successes over tho perlod Included: 29 young people completed personal and Social development workshops including mental health workshops. l O young people completed a GR cross community trip to Culd&tT. 9 young people completed an accredited Course on first aid. 10 young people cornpleted a bespoke 3D printing course to learn about opportunities in this innovative technology field. l O people completed a course on SFX mkkeup. 20 young peopl¢ completed a range of good relations PTogramming, including engaging in cross community events. 15 Ilfehack participants successfully organised a street art festival to coincide with Good Relatlons Week. - 22 young people engaged in charitabl¢ work iviih ihe Foyle Food bank. 60 young people engaged in bonfire safety worksliops In Creg8an and Galliagh in ¢onjunction with th¢ NIFRS. - 20 young peopl¢ oompleted a health aiid wellbeln8 course with a local fitness provider, 10 young people plannedldelivered a very successful cullural I social event in St Columb's Hajl. The young people brouglit ihe old clnema back to life in 8 ¢foss•community event. 8 young people also work¢d along5id¢ Peaball on a project called INSIDB OUT which brought the hlstory of Sl Columb's Hall from tli¢ inside to the outside. 8 Young people completed an OCN in peer mentoring. l O young people ¢ompleied a range ofgraphic design workshops wilh a local designer. - 6 young people successfully compleied CSR course, which resulied in these young men galnlng employment. 8 young peopl¢ attended localjob fairs tlirousliout the year. - 29 young people attend team building events throughout the year. l O young 0p1¢ were successful in securing employment in 2023. 4 young people completed a theory-based workshop on learning to drive (3 of thes¢ young people have subsequently passed tlieir driving tests). - 3 young people moved from b¢ing regIsted homel¢ss to having ¥lable accommod&tion. 880/0 of young people recorded incre&sed confIdence. 810/0 developed new or existing skills. 840/0 indicated a more positive attitude io others. Page 6
Crtggan Entcrpriscs Limited (A company limited by guarantee) In relation to thc provision of a neutral community venue, providing access to a range of free culturnl. heritag¢ and digital activities and events for all ages and backgrounds - Creggan Enterprises Limited delivered its Rath Mor Sliar¢d Space Programmc. funded by TEO (undcr the Central Good R¢lations Fund / T:BUC), whiah delivered a comprehensive programme (over 30+ free aotivities/¢v¢nts) of culturaucdutlonal, good relations and cross-community programming throughout tlie poriod in question. These events included a range ofactivities for a diverse mlx of partlclpants from specific user groups> Includlng Section 75 (equality groups) the elderlyi ¢hlldr¢n/young people (and local school groups), crosskn¢ommunity (CN RJPUL representatives). reprntatiV¢S of BAME and LGBTQI communities. adults witli learning difficulties and complex ng¢ds as well as tlie genernl publi¢. Some lar8eted activities were developed and delivered in conjunction witli different user groups to Ine¢t individual needs (as well &g events designed for the g¢neral public) - with a range of activities and one-off ¢v¢nts- including: good r¢lation5 workshops. multi-¢ultural eveiits (supporting local talent . musicldancperforrnance etc), ndays, craft workshops, days celebratlng and exploring Ioc81 heritage, advancem¢nt of the orts and respect for 50Gial justice and human riglits. K¢y ouleom¢s ofthEs sharnd spaeo programmo in¢lud¢d: - Incr¢a5ed use of sharcd space . in particular from the PUL Community Repair of intru & inter*community relationships, opportunities to voice community con¢¢rns. reduclng tensions & combat the pereeption of the Creggan area In Ilgl)t of ongoing events and negative inedij attention Incr¢ased confidenee of sliared space, sense of ownerslilp by participants - Increased confidence iii those frequenting- especially from PUL community Incrcascd confidence by all to use other services at Rath Mor Key activities and successes over the perlod Included: - The dclivery of3 highly su¢¢¢ssful larse scale fun days (Summer. HalloNv¢¢D. Christma5) attracting 1500+ people to th¢ centre. The delivery of 12 Inclusive good relations l ¢ro5s4ommunlty workshops [focuslng heavily on multi-cultural diversity). The delivery of a highly su¢cessful high profile citywide school po¢ty competition (d¢liverlng 30+ workshops to 500+ young people across 25 schools in all kaystages). Over l 000 entries w¢re submitted and over 150 winning entries published in an annual compendium. Over tlie period soine 2360 people engaged in these fre¢ actLVities. Creggan Enterprise5 Limited gamered feedback and direct responses from approx. 15Q/o of all Revival participants - whioh clearly illustrat¢d the benefit of this pro8ramme in promoting the Rath Mor Centre Ls a shared space (which in turn benefits not only user groups but the businesses located here) with a hlgh degree of consensus that this work was improving the level or socio-econoinic and cultural inclusion within the community (from both an intra- and inter-community perspe¢tiv¢). Other specific charitable endeavors over ihe perlod included supporting the work of our Raiii Mor 5(FP Club; the Creggan Mens, Older People's Club and also the work of Hiv¢ Studlos, which delivers a range of accredited community-based traininB and Greativ¢ opportunities for people of all ages. Creggan Enterprises Limited support tho Rath Mot 50+ Club (some 100 or so participants) by providing a ivami. saf¢, fr¢¢ space every week for tlieir a¢tivitiey. Creggan Enterprises Limited also frequently offer them additional Supports such a5 training and social opportunitie5. This ultimately alleviates the level of isolation these older people face and creates other opportunities for community integration and inter-generational opportunities with Creggan Enterprises Limited youth programmes. Over thc COL crisis - these very vulnerable user-groups iver¢ supported by way of Creggan Enterprises Limit¢d voucher scheme. Page 7
Cregg2n Enterprises Limited (A company limiled by guarantee) Fotus of Work Tli¢ main focus of Creggart Enierprises Llmited Rath Mor Centre, located at Bligh's Lane, Creggan is to provide a sliared space lo promote economic, social, educatlonal, cultural. artisliG, good-relations, peacebuilding and other activities across ilie soclal divlde to improve the conditions of life for the residents of Crewn, surrounding environs and the North-west. Flnanclal Review Princi 81 Fundln Source The key funders of Cr¢g8an Ent¢rprises Limiled include: tlje International Fund for Ireland; D¢rry City & strabane District Council; Joseph Rowntree Charitable Trustr, St Stephen's Green Trust; The Executive Office (CGRF T:buc); Dept of Foroi8n Affeirs (ROI); Community Foundation Cfrll): Housing Executive and rental incom¢ generdted from th¢ Ratli Mor Cenir¢ uniis. Reserves Polic Crcggan Entctprises Limited aims to set asidc reserves to provide improved financial stability and to aid the development of its principal activitiC5. It intends to build up it5 reseNes to and maintain them at thc following levels (to cover CO salary and fixed costs), an amount equivalent to a mlnimum of 12 weeks and a maximum of 24 weeks of annual expenditure. thls is currenily a total £145.000 required for such reserves. The total amount of uiirestricted reserves at 31 December 2023 is £400,723. Structure. GoverDanco nd Management overnin Docu The Company was formed on 23 Oetober 1991. The company wag granted charitable stqtus on 16 January 2019. The oliaritable Company was tablIshed under M¢morandum & Articles of Asso¢iolion which outlined the area of ben¢fit and the objects of Ihe chan'table organisation. cr an e Board of Di The directors of the company are also charity trustees for th¢ purposes of charity law and under the company's Artlcles are known as membets of the Board. Under the requirements of the Memorandum and Articles of Assoclatlon, one third of the members of the Board must stand for re-election at th¢ Annual General Meeting. ers Inductio The board members are already familiar wlth ihe work of Cr¢ggan Enterprises Limited and board members are cncouragcd to partlcipate In relevant activities. The Board memb¢rs underivent dedicated Govemance Training (d¢liv¢r¢d by NLCVA) in 2019 to reflect tlie additional requir¢ments of tlie organisation lls A registcred charity. Obli ations of the Board The main obligation of the Board are to develop and oversee the implementation of policy and to ensure that slructures and management complies with legal requirements and good Eovernance practite. Page 8
CreEgan En¢erpri5e5 Limited (A ¢ompany limited by guarantee) nisational Stru¢lure The organizational structure for th¢ reporting period covered consisted of 3 Directorsrrrust¢es (on average accounting for movemcnt) and 9 full time employees which in¢lud¢d a Devclopment Exccutivc, G¢neral Mana8¢r, Admin and Project staff (and 2 part time employees for Ihe first quarier of 2023). There were significant changes in tenns of governance personnel in Ihe last period. There are now 6 Directorsrrrustces (a5 of June 2024). ana The directots regularly assess ihe ldior risks to whlch ihe company is exposed, In particular those related io the opcrations and finances of ilie company and are satisfied that systems are In place to mitigate the exposure 10 the rnajor risks. A risk register is e5tablislied and updated annually. Individual pro8rammes carry out re8iilar risk reviews (asscssments). Tlie pliysical compliance and facilitieslsite management is covered by strict polioies and procedures. Intrrnal Coiilrols are minimized by tl)¢ implementation of procedures for authorization of all transactions and proje¢t$. Procedures are in place to ensure compliènce with Bll health and safety r¢quirments for stafy, volunteers. center-users llnd Visitors. Policies are reviewed perlodically to ¢nsur¢ they me¢t Current organizational needs and associated legislations. Hoiv Creggan Enlerprlses Limtied has mitigated any harni flowing from its purposès Crcggan Enlcrprises Llmiled operate under strict governancg oversighL process and procedure. Our pro£ramme$ adhere to clear and comprehensive internal policles I guldonce and oxtemal parameters determined by funders, management agcnts and govemment deparlments. Employees and the Bollrd are supported and encouraged to take wliatever training is necc55ary to prepllre them for their iole and support their day-to-day a¢tivities (e.g. Governanee Training or Safeguarding Training ctc). Regular reporting is provTded to each and overy thnder and cach programme undergoes initial and ongoing risk analysis to deternilne what if any risks are p05ed by Ilie pro8raJnm¢ (in regard to hami to users. participants. Ivorkcrs, th¢ community. lh¢ fundcr or thc organisation). fn thls ivay - any potential Iiami is Identified and specific m¢asur¢s ¢stablished to mitigate risk from th¢ Outset and as clrcumstances cliange or new activities ar¢ planned. Creggan En¢¢rpri%s Limited also lake care io survey the needs of the communlty- before any new prograinme I seNice is planned. and we also endeavour to captu and lake on board us much feodbllek os Ivell in ord¢r to ¢valuat¢ ihe offeGtiveness of our ¢haritoble work. This allows Creggan Enterprises Limlted lo monltor any potential areas of harni - and mitigate wh¢r¢ possibl¢. How CroggAn Entorprlses Limited ho5 ellsured that any private beneflt has been Inclrlontal to the publle benefit All our a¢tivities are directed towards solely providing a public benefit - any private beneftt generated is purely in¢id¢nial. Tru5t¢es or eMploe5 of the Charity are ineligible and prohlbited from ac¢essing any of tlie services or supports whlcli our progrnmmes offer. Tlie only privat¢ b¢nofits accrued are purely in relation to ihe roles and responsibiltties of workers. for example our Lifeliack project ivorkers may atteftd a residential (thus ben¢fittinE from the charitable work) in thcir o55ential supervisory eapacity only. Additionally, ¢mployees may b¢n¢fit, for example, from training (Ivhich they attend in supervisory rolc alongsidc partlcipants or via direct training vhere it Is deemed essential for iheir role, i,e. safeguarding training) but again any benefit is purely incidental. Eacli programme works within strÉct guidelines. witli strTCt Controls on pcrsonal expenses, and with all expenditure s¢rutinised at multiple levels to ensure appropriateness. fair value and necessity. Pag¢ 9
Creggan Enterprises Limited (A company limiled by guargntee) Statement of compliance in regard to the Com]llission's guidan¢e In sctting our objectives and planning our activities for lh¢ y¢ar th¢ trust¢¢s have given careful consideration to th¢ Charity Commisslon for Northern Ireland's 8uidancc on public benefit to ensure that the activities have helped to acliiev¢ the charity's purposes and provid¢ a ben¢fit to tlie beneficiaries. Plans for tbc futuro Looking forward iiito 2024125 - Cr¢ggan Enterprises Llmited continue to face significant challeng¢s In regard to a rising fixed cost bas¢, Changing Community dynarni and footfall. tenancy perforniance, an increasingly competitive and slirinking funding landape and ongoing succession planning issues. Tlie community served by the organisailon contlnues to sutTer from the imp8Ct of the Cost-of-Living Crisis and lasting Tnequalilies brought on by underinvestmeni and stru¢iural barriers to economlc incluslon. The resulting knock-on impact on small businesses and projecls means that Creggan Enterprises Limiled will need to look 8t dcveloplng nelv and innovative measures and projecls to ensure sustainability and resiliencc over th¢ mid-io-long tenn. Responsibllities of the Board of Directors The Irustees, Ivho are &lso the directors of Creggan Enterprises Limited for tli¢ purposes of company law. are rcsponsible for preparing the Directols Report and tht financial statements in a¢cordan¢e with appllcAble law and United Kingdom Accounting Standards (United Kingdom Generally Accept Accounting Prd¢ti¢e). Company Law required the directors to prepare fmancial statements for each financial year which give a true and fair viciv of the stale of the affairs of the charity and of th¢ incoming r¢sour¢cs Rnd application of resourws, including the income and expenditure, of th¢ ¢haritable company for that year. In preparing th¢sc financial stalement4 the dlreciors are requlred to: select suilablo accounling policies and apply them consistently. observ¢ th¢ methods and principle5 in the Charities SORP 2019 (FRSI 02). IrAak¢ judgements and estimates that are reasonable and prudeni: state wheilier applicable UK Accounting Standards hav¢ been followed, subject to any material departures disclosed and explained in the financial statements. prepare financial statements oli the goiiig concem basis unless it IS inappropriate to assume tliat the charity will oiitinue in operation. The directors are responsible for maintaining proper accounting records which disclose with reL40nable accuracy at any lime th¢ financial position of the charity and enables th¢m to ensure that thc financial statements comply with the Companie5 Act 2006. The directors ar¢ a150 responsible for safeguarding the assets of the charity and hence for laking reasonable steps for the prevention and detection of fraud and other irr¢gularities. Auditor8 Each of th¢ persons who is a director al the date of approval of this report confinn5 that: So fur as we are aivare. tliere is no relevant audit information of which the company's auditors are unaivare. and Ihey have taken all steps that they Ought to have taken a director to inakc thcmselvos aware of any relevant audit information and to establish tliat the charity's auditors arc aivaK of that inforniation. Page 10
Creggall Enterprises Limited (A company limited by guarantee) The auditor is deemed to have been re-appointed in accordance with 5tion 487 ofilie Companies A¢t 2006. Smnll Company provlslons This report is prepared in accordanc¢ with th¢ 5p¢cial provisions of part 15 of the Companie5 Act 2006 relating to small companies. Tlie and iianei igne I state nits nts were approved and authorised for issu¢ by tlie Board of Directors on 24 September 2024 If by; tor Fay Dlrector Page 11
Creggan Enterprtses Limited (A company IAmited by guarantee) Indcpendent auditor's report to the directorn of Creggan EnterpriSCS Limit¢d Oplnlon We have audited ili¢ financial slal¢menis of CregEan Enierprlses Llmlted for the year ended 31 December 2023 whi¢li comprise the stotemenl of financial activities, the balance she¢L the statement of cash flows and the relalcd notcs to the financial statcmcnts, including a summary of si8nific8nt accounting policies. The financial reportlng framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Ac¢epted A¢unting Practi¢e) including FRS 102 "The Financial Reporting Standard applicable in tlie UK and Republic of Ireland" This report is made solely to thc charitable company's d1CtorS, a body. in accordanrx with Chapter 3 of Part 16 of th¢ Companies Act 2006. Our audit work has been undertaken so that we Inight State to the charilable company's diff¢tors those matteTS we are required to state to them in an auditoVs report and for no other purpose. To the fullest extent pennitted by law. we do not ac¢ept or assume responsibility to anyone other than Ilie charltAble Company and tlie charitable coinpany's directors L8 a body. for our audit work, for this repo¢ or for the opirtlons we hav¢ formed. In our opinion the fin&ncial ststements: give a true und fair view of the state of the charitable company'5 affulrs lls ot 31 Dccernber 2023, ld of its incoming resources and expenditure of resource8 including its income and expenditurn, for the year tlien cnd¢d: hAve been properly prepared In accordance ivilh Uni¢ed Kingdom Generally Accept¢d A¢covntlng Practice. and have been prepared in accordance with ilie requlr¢monlS of th¢ Companies A¢t 2006. Basls for oplnion We condu¢ted our audit in accordancc wilh International Standards on Auditing (UK) asA5 (UK)) and applicftble laiv. Our responsibilities under thos¢ Standards are furth¢r des¢ribed in the auditoFs responsibllities for the audit of the financial statements section of our reporL We are independent of tlie charitable company in 8ecordan&e witli the ethical requirement5 that are relevant to our audit of ihe financial statements in the UK including ili¢ FRC'S Ethical Stand8rd, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidenc¢ we have obtained is sufficient and appropriate to provid¢ a basis for our opinion. Concluslons relating to going con¢ern n audltlng tlie flnanclal stalement4 we hav¢ concluded that the directors, use of ilie goin8 concern b&gls of accounttng in the pr¢paTation of the finanoilll statements is appropriate. B&sed on the ivork lye have perfornied. Ive have not identified any material uncertainties relating to evenls or conditions thal individually or collectively. may cast significani doubt on the charitabje company's ability to continue as a going concern for a period of at least twelve months from when thc financial statements are authorised for issue. Page 12
Creggan Enterprises Limited (A company limited by guarnnlee) Our responsibilities and th¢ responsibilities of th¢ directors with respect io going concern are described in the r¢l¢vant s¢Gtions of this report. Other Informatlon The directors are responsible for ihe other inforniation. The other Infonnation comprises the infonnation included in the directors, aiinual report, other Ilian th¢ finan¢ial statements and our auditor's report thereon. Our opinion on Ihe financial statements does not cover oiher infonnation and. except to the extent oiherwise explicltly slated in our report, we do not express any forni of assuran¢e conclusion thereon. In connectEon willi our audlt of the Ilnancial Statemen our responsibility is to read the oiher infomiation and, in doing so, nSider wli¢lher the other infonnation is mat¢rially inconsistent with Ihe financial slatements or our knowledg¢ obtained in ihe audit or otherwise appears to be mat¢rially misstated. If we identify such material inconsistencies or apparent material misstatements, we are requlred to determine wh¢th¢r ihere is a material misstatement in tli¢ financial statemeiits or a materlal mlsstatement of the other inforination. If. bd on the work we Iiave performed, we conclude thal iliere Is a materlal misstatement of this otli¢r infonnation, we are required to report il)at fact. We have nothing to report In thls regard. Opinion on other matters prescribed by thc Companies Act 2006 In our opinioii bosed on the work undertaken in the course of the audit: the infomiation given in the directors, aiinual report for th¢ financial year for whicli Iho financial statements are prepared is consi5tcnt witli the finanGial statcment$' and the dire¢tors' annual report lias been prepared in accordance with applicable le8al requirements. Matters on whl¢h we 8r¢ roqulred to roport by oxeoptEon In the light of our knowledg¢ and understanding of the charitable company and its environment obtained in ihe course of the audit, we have not identified matcrial misstatements in the directors, annual report. Wc have nothing lo report in respect of the following matters where the Companies Act 2006 rcquircs us to report to you if, in our opinion: adequate accounting rOrdS have not been kept. the financial statements are not in agreement with th¢ accounting records and returns: or - certaln disclosures of directors, remuneratlon specified by law are not made: or we have not received all tlie informatioii and cxplanations we rcquire for our audit. the directors wcrc nol entitled to prepare the financiol statements in accordance wilh the small companies regime and take advantage of the small companies exemption from the requirement to pr¢pare a strategic report. Page 13
Creggan Enterprises Limited (A company Itmitcd by guarnntee) R¢sponsibllilics of ihe dircctors As explained mor¢ fully in tlie Directors, Responsibllltles Stotement, Ihe directors (who are also tl)e directors of tlie charitsble company for the purposes ofcompany l&iv) Are responsible for the preparation of the financial statements and for being satisfied thai they glve a true and fair view, and for such internal ¢ontrol as the directors detennlne Is necessary lo enable the preparation of financial statcments that arc free from material missiatemenL whether due to fraud or error. In preparlng the financlal statements, tho directors are responsible for assessing th¢ charltable company's ability to continue as a going ¢on¢ern, dlsclosin8, as applicable, matters relakd to going concern and using the going concern basis of accounting unless tlio trustees eillier intend to liquidate the cliaritable company or to cease operations, or have no reali5tiG alternative but to do so. Auditorfs rtsponsibilitios for the audit of tho Ilnanelal stAt¢ments Our objeclives ar¢ to obtain reasonable Lssurance about whether ilie finArt¢ittl statements &$ R whole are free from material misstatement, whetlier due to frdud or error. and to issuc an auditols reporl that includes our opinion. Reasonable £i5suranco is a hlgh level of assuranc¢. but is not a guarantee that an audit conducted in accordance willi ISAS (UK) will always d¢tect a material mi55tatement when it exists. Misstatements can aris¢ froiTJ fraud or ¢rror and are Considered material if. Individually or in Ihe &ggregat4 they could reasonobly be oxpccted to influence the economiG decisions of users taken on tlie basis of thcse financial statcm¢nls. Explonntfion as to Ivhot extent the Alldfit was considered capable of delecting irregularltlcs, including frnud: Irregularities, including fraud, are instances of noii-compliart¢e witli laws and regulations. We design procedures in line with our responsibiliti¢s, outlin¢d abovc. to dett mat¢rial misstatements in rcspeot of irregularities, including fraud. However, the primary responsibility for the prevention and det¢¢tion of fraud lies with managemenl and tlie board ofdirectors of the ¢haritable company. Id¢ntifylng and assossing potential rig ro12ted to irregularitlcs In identifying and ass¢55ing risks of material Inisslatement in respect of irregularities, Including fraud and non-compliance with laivs and regulation5, w¢ considered the following: the nature of the industy, sector and the specific control environment which it operates in. the charitles own assessment of the risks that irregularities may occur, elther as a result of fraud or error" representations and SU1t$ from our enqulries willi management and tlie board of directors regarding their own identlflcatlon and ass¢ssm¢nt of the rlsks of irregularities. enquiri¢5 of maiiaEein¢nt rglating to accounting ¢5tiin&t¢5 measurem¢nty recognition criteria and justification of such amounts; any matters ive lyave identified having obtained and reviewed the rharities policies and procedures relating to" * identifying and assessing if laws and regulations ar¢ compliant and whether they arc aivare of any instances of non-compliancc. * detection and response to the risk of fraud and whether they are aware of any actual. suspected or alleged fraud insiances. Page 14
Creggan Enterprises Limited (A company limited by guarantee) * the intemal controls designed lo mitigate risks or fraud or non-complianc¢ ivith laivs and gUlatiOns, and to minimise risk of management overrides of such ¢ontrols. all matters discussed among tlie audit engagement team regarding how and where fraud could occur and ihe potential indicators of fraud. As a result of tliese procedures, we considered the opportunities and incentives that may exist within the charity for frAud. The audit in¢luded assessing tlie procedures and evaluating the measurement of e5timatioi]s. In Coinnion with all audits under ISAS (UK), we are also required to perfomi specific procedures lo respond to the risk of Inanagement overrido. B&sed on our understanding of the ¢haritable company ihe most slgnificant legal and regulatory fram¢works that l?&ve a dircct impact on ilie financlal statements those r¢lating to th¢ Hppli¢able reporting framework, (FRS 102, Th¢ Charities Act (Northern Ireland) 2008, The Charities (Accounts and Report) Regulations (Northern Ireland) 2015, the Charity SORP and the Componies Act 2006) non-compllanc¢ may have a maicrial effect on the finanoial statements. Compliance with tl)ese laws and regulations was assessed Ls part of our pro¢¢dures. Audlt responses to rlsks Idtntified Our procedures to respond to risks identified included the following: r¢vi¢wing thc financlal statement disclosures. testing the relevant documentstion to assess compliance with Ihc significanl laws and regulations - tliose d¢s¢rib¢d as having a direct effect on the financial stalcmcnts: enquirlng with management and obtaining third party confjmiation from the charitable compllnys sollcltors regarding any actuol or potenliol litigation and claims" pcrforniing an&lytical procedures lo identify any unusual or UnexCted rclationships that may Indlcato risks of material misstatement due to fraud. rcading minutes of board and management meeting4 cxamine for¢Gasting material in line with actual p¢rfornian¢¢, idcntifyins any potentlal fraud indicators or instances. reviewing Companies House and Cliarity Commission Northem Treland correspondence. identify any late submissions or omission5 of mandatory infomiation; review ¢orr¢spoiiden¢e with HMRC, identifying non ¢ompliance of speclfIc inforn?ation to be disclosed. in addressing tlie risk of fraud through management override of controls, testing the appropriateness of data entries and adjustments: assessing whether tlie Judgements made In maklng accounling estimates are indlcative of a potential bias; and evalullting tlic ratlonale of any significant transa¢tions that are unusual or outside tlie normal course of the charities objcctlves. We also MmunIcated relcvant identified laivs and regulatlons and potentlal fraud risks to all engagement team members and remRin¢d alert to any indicatlons of fraud or non¢omplian¢¢ with laws and regulations throughout tlie audit. As part of an audit in aceordaftce with ISAS (UK), we exercise professional judgmvnt and muintain profcssional scepticism throughout the audit. We also: Idenlify and SesS the risks of material misstatement of the financial statements. whether due to fraud 01 eOr. design and perform audit procedures responsive to those risks. and obtain audit evidcnce that is sufficient and appropriate to provide a b&sis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion. forgery. intentional omissions, misTcpresentations, or the override of internal control. Page IS
Creggan Enterprises Limited (A company limKted by guarante¢) Obtain an understanding of internal control relevant to the audit In order to deslgn audlt procedures that are appropriat¢ in the C[umstances, but not for Ihe purpose of expressing an opinion on the effectiveness of the charitable companys Internal Control. Evaluate tlie approprialeness of accountlng polieles used and tlie reasonableness of accounting ¢stimales and related dis¢losures m&d¢ by th¢ dire¢lors. Concliide on the appropriatenes5 of the directors, use of the going concern basis of accountlllg and, based on Ilie audit evidence obiained, whether o material uncertainty exists related to events or condition5 that may c&st significant doubt on the charitable company's ability to continue &$ a going concern. If w¢ conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such dilosUreS are inadequale, to modify our opinion. Our conclusions are based on the audit ¢viden¢e obtained up to the date of tlie auditor's report. However, future events or conditions MAY cause the cliarliable company to ¢eas¢ to Continue as a going concem. -Evaluat¢ tli¢ overall pr¢sentatiDn, slructuro and content of tlie financtal stAlements. including the disclosurcs, and whether the financial ateMentS represent the u11derlying transactlons and events In a martner that achieves ralr presentation. We commuiiicate witli those char8ed with 8ov¢rnanco re8ardin& among other matters. tlie planned scope and timing of thc audit and slgniflcant audit fjndings. including any significant dcfi¢ien¢i¢s in internal control tliat ive identify durin8 our audit. Patritk Me tatutory Audltor for and on behnlf of M¢Groarty Mccarrerty & Company Statutory Auditor 2 Carllslc Terraco Dcrry IIT48 6JX Dat¢: 24 September 2024 Pagc 16
Creggan Enterprises Limited (A company limited by guaranlce) Statcm¢nt of Financial A¢tivities for the year ondcd 31 Dt¢embor 2023 Unrestrletod Funds Rastrieted Designated Funds Funds 2022 2023 As Restated Ciirreiilfliiaiiclalycar Incoming Resour¢es InLomefronr rollY¢e$ andgeneralingfiinds.. Income resources from ¢harltabl¢ aelivitles Inve$th)ent in¢oin¢ 405,300 45 390,195 795,495 45 755,164 59 Total Incoming Resources 405,345 390,195 795,540 755,223 Rtsources Expended Man8Bement & administrntion Governan¢¢ ¢osls 318.040 10,950 383,807 137,856 839,703 10,950 782.589 10,950 Total Resourees Expended 328.990 383,807 137,856 850,653 793,539 Net lll¢omlng l (Outgoing) Rosourees 76,355 6,388 (137,856) (55,113) (3 8,316) Balances brouglit forward l January 2023 324,368 121,801 3.098.720 3,544.889 1,395,237 400,723 128,189 2,960.864 3.489.776 1,356,921 Transfer of funds 14. 2,187.968 Balances ¢arried forward 31 Dooember 202315. 400,723 128,189 2,960,864 3,489.776 3,544,889 Tlie Stai¢ment of Financial ActlvAtles Includes all gains and105s¢s ronId in th¢ year. All Income and ¢xpenditure derive from continulng activities. The stateillent of financial activities a150 coinplies with the requirements for an in¢ome and expenditure a¢¢ounl under tho Companies Act 2006. P2ge 17
Creggan Enterprises Limited (A company limited by guarantee) Statement of Financial Activities for the year ended 31 Doccmbor 2023 UDr¢strletcd Funds Restrietod Funds Designated 2022 Funds As Restatcd Prloryearfliiciiclftl No*es Incoming Resources Encome from resources and generating funds: Income resour¢es from charitable activities Investment income 401,195 59 353.969 755,164 59 Total Incomfng Rtsourtoj 401.254 353.969 755223 Resources Expended Manageinent & administration Governonce cosls 321.449 10,950 330,394 130,746 782.589 10,950 Total Resources li xponded 332.399 330.394 130,746 793,539 Net Inconiing l (Outgoing) Rcsources 68,855 23,575 (130,746) (38,316) Balances brought forward l Januury 2022 1,297,011 98226 1,395,237 l J65.866 121,801 (130,746) 1,356,921 Trai)sfer of unrcstricted funds 14, {1.041.498) 1,041,498 Transftr of oapital grnnt 14. 2,187.968 2,187,968 Balances brought forward l January 2022 as restated 324,368 121,801 3,098.720 3,544.889 Balances carried forward 31 December 2022 324,368 121,801 3,098.720 3,544.889 Tlie Statement of Flnancial AGtivities includes all gaiiis und losses reco£nised IA the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies witli 11)e requiremcnts for an income and expenditure account under the Companies Act 2006. Page 18
Creggan Enterprises Limited (A eompany limited by guarantee) Balance Sheet as at 31 December 2023 2022 As Restated 2023 Notes Flxcd gsscts Tangible assets 3258.370 3,473,383 Current assets Debtors Investments Casli at bank llnd in liand 77,894 250 500,724 86,212 250 471.997 578,868 558,459 Currenl Ilabllltles Trade credilors Bank loans and overdrafts Otlier creditors Accruals and deferred income 12,457 59.785 33,389 128.626 12,167 87,470 30,375 135.853 io. 234,257 265,865 Net ¢urrent a55¢ts 344.611 292,594 Total ussots less ourrent lillbilities 3,702,981 3,765,977 Loiig-term liabiliti¢s Net assets 12. (213,205) 3,489,776 (221,088) 3.544,889 Res¢rve5 Unrostricted fund Restricted fund Deslgnated fund 400,723 128,189 2.960,864 324,368 121.801 3,098,720 16. 3,489.776 3,544,889 The ffftancial statements are prepared in accordance wilh the special provisions of Part 15 of the Companies Act 2006 an the Charili¢s SORP 2019 (FRS 102). The financi signed on il emen were approved and authorlsed for issue by ihe Board on 24 September 2024 2nd If b Director Date: 24th Diretto Date: 24th Sep 24 AwiES NJA514 024 eR[/ er Company mber: NIO 6020 Page 19
Creggan Enterprises Limited (A company limited by guarantee) Statement of C2sh Flows As at 31 Docembgr 2023 2022 2023 As Resl*ted Cash flow from operating aetlvltles Note Net resources for the year Depreciation 17. (31,026) 116,270 (21,357) 116,694 Changes In.. Trade and other debtors Trade and other creditors 8,318 29.786 7.238 (4.094) Not Cash flow from operAting activitlcs 123,348 98.48E Cash flow from investlng aerfvlites Capital oxpendilure IntetCSt rcccived (1,257) 45 59 N¢t Cash Ilow from invosting activiti 122,136 98.540 Cash flow from financin¥ actlvltles Proceeds from borroiving Ini¢rest paid (34,639) (24.132) (42,089) (17.018) Not ea¥h flow from finnncing actlvltles 63.365 39,433 RccoDclllatlon ofnot egsh flow to movement In net thnds Net IDeroaso in Cash and ¢ash equlvalents Cash and eagh equivAlcnts at l January 2023 Cash and cash oquival¢nts 8t 31 December 2023 63,365 165,374 39.433 125,941 18. 228,739 165,374 Page 20
Creggan Enterprises Limited (A company limited by guarantee) Notcs to tbc accounts for th¢ year ¢nded 31 December 2023 Golleral informgtion The charity is a private company limited company by guarantee, incorporated in Northem Iroland. The registered office is Rath Mor Centre, Blighs Lanrf Creggan, Derry, BT48 OLZ. It is regislercd &s a charlty with ihe Cl)ariiy Coinmission Northern Ireland wltli effect from 16 January 2019. 1.1. A¢¢ountlng ¢onvontion The financial stat¢m¢nts hav¢ be¢n pr¢pared under the hi$tori¢al cosi convention, modified lo inGlude tlie revaluation of freehold properties and certain finaftclLI Instruments at fair valu¢. The prin¢ipal accounting policies adopted ore set out bolow.. The charity Constitules a public benefit entity as defined by FRS102. The financial statemenis hav¢ been prepared in accordance with the accounting policies sei out in notes to the accounts and comply Ivith tlie churity's govcrning document, tho Charllids Act (Northern Ireland) 2008. FRS 102 'Financial Reporting Standord 8pplic2]ble in the UK and R¢publlc of l¢elaThd', the Charities SORP 'Accounting and Reporting by Charities: Statement of Recommended Practice appli¢able to ¢haritles preparing their accounting in a¢¢ordan¢¢ with thc Finan¢ial Reporting Standard applicabl¢ in tli¢ UK and Republic of Ireland (FRS102) (¢lTecliv¢ January 2019) and the Companies Act 2006. The fInancial stYAtements are presented in sterling wliich is the functional currency of Éhe cliarity. 1.2. Going ¢oneern The financial SiDtemen¢s hov¢ been prepared oil a going ¢on¢ern basis &$ the directors believe that no material uncertainties exist. Tlie directors liave considered the level of ndS held and the expected level of incom¢ and expenditure for 12 monlhs from outhorising th&se financlal statements. The budgeted in¢om¢ and cxpcnditure arc sufficicnt with tlic Icvcl of rcscrvcs for thc churity to b¢ able to continue as a going coneern. 1.3. Fund accounting Unrestricted ndS are available for use at the discretion of the directors in furtherance of the general objectives of the chariiy and which have not been designated for olher purposes. Restri¢ted funds are funds wl)icli are io be used in accordance with specific restrictions imposed by donors or which have b¢cn raised by the charity for purposes. The cost of raising and administering such ndS are charged against the speclflc nd. Page 21
Creggan Ellterprises Limited (A company limited by gu2raDtee) Noles to the U¢COUDtS for the year ended 31 DccembEr 2023 1.4. Incomlng rcsourcos All incoming resources is iecognised when the charity is legally entltl¢d to It aft¢r any conditions have been met, th¢ ainounts can be me&sured reliably? and It is probable that incom¢ will b¢ received. The following specific policies are applied to particular categorles of Income.. Voluntary income is r¢¢eived by way of grants, donatlons and glfts and Is Included in full in the statement of financial activities when receivable. Grants wliere entiilemcnt is not conditlonal on the delivery of a specific p¢rfomianc¢ by th¢ ¢harity, aro r¢eognlsed wheft the charity becomes unconditionally entitled to the grant. Donated services and facilities are included at the value lo the charity where this can be quantified. The value of servlces provided by volunteers lias not be¢n inGluded. Gifts donated for resal¢ ar¢ included a5 incoming resources within aclivilies for gefteraling funds ivhen they are sold, 1.5. Resovrecs oxpondod Expenditure is recognised on an accru81 basls as a liabillty is In¢urred, Expendlture includ¢s any VAT Ivhich cannot bc llY reeovered, and is reported as part of the expcnditurc to ivhirh it relat¢s. CliarilabIe expenditure comprises those costs incurred by ihe chorlty In ilie delivery of its activities and servlces for its beneficiaries. It includes both costs thHt can be allocated dlrectly to such activities and thosc costs of an indirect nature necessary to support Ihem. 1.6. Tanglblc fixcd assets and depreclatlon T8n8ible fixed assels are stated at wst less d¢preciation, Depreciation is provided at rates elllculated to write off the Cs)5t or valualion l¢ss residual value of eacli ass¢t over its expected useful lif4 as follows: Land and buildings Plant and ma¢l)inery Fixtures, fittings & equipment 2Vo Strai8ht Line 200/0 Straisht Line 25OA Reduclng Balance 1.7. Cash at bank Cash at bank and casli equivalents are stated at eost at the finaneial year end. 1.8. Investments Current asset investinents are at tlie loivor of cost and nei realisable value. 1.9. Debtors & credltors D¢btors and creditors with no stated interest rate and receivable or payable within one year ore recorded at transaction price. Any losses arising from iixpairni¢nt ar¢ recognised in expcndittire. 1.10. Penslon eosts Tlie pcnsion costs charged in the financial stalements represent the conlTibutions payable by the charity during the year. Page 22
Creggan Enterprises Limited (A eompany limittd by 8u2rantee} Notes to the accounts for tho year ended 31 Dceombcr2023 1.11. Loans And borrowlngs Loans and borrowin ar¢ initially recogfjised at the transa¢tlon price including transaclion costs. Subsequently. Iliey are measured at amortised cost using tlie ¢ff¢Gtiv¢ interest rat¢ Incthod. less impalnnent. 1.12. Cash and eash equlvalents C8sli and casli equivalcnts include casli in hand. bank overdrdfts and bank loans. Bank overdrafts and loans are sljown within Gurrent and long term liabiliti¢s. 1.13. TAxAtion Th¢ company is a ¢harity and is recognised as su¢h by HM Revenue & Customs. As a result, there is no liability io taxation on any of its income. 1.14. Critlral accounting estimp4tes and judgements In application of tlie charity's a¢countins poli¢i¢s, th¢ directors are required to make judgements, CStimates and assumptions about the carrying amount of assels and Ilabilltles that are not readily apparent ffom other sources. The estimates and associated aumpi10nS are based on historical experi¢n¢¢ and oiher factors that aro considored to be relevant. Actual results may differ from tli¢se estimates. The estimates aiid underlying assumptions are rcviewed on an ongoing basis. R¢visions to accounllng estimates are rccognlsed In the perlod In wlilch the estimate is revised where the ievision affect on Ihat pcriod, or in the period of the revision and future periods ivhere ihe revision AtTe¢ts both current and Iblure periods. l.l% Deslgnated Funds Designat¢d fund5 Include Income recelved for ihe constructlon of the premises at Rath Mor C¢nire. Desi8natcd thnds are deprcclated in Ilne witli tlie eost of land and buildings at 2¥0 Straight lino annually. Pago 23
Creggan Enterprisos Limitcd (A eompany limited by guarantee) Notes to the accounts for the year ended 31 December 2023 In¢ome 2023 2022 Restricted Income DCSDC - Grass Rools Funding Intornational fund for Ireland- PYDP Int¢rnational Fund for Ireland- PIPI CIP JRCT: Cominunity Dialogue Programme JRCT: Going Beyond the Silence JRCT: Focus Funding Depi of Foreign AffAirs - CCRP Dfc- Jobstart funding Portieus Leadershlp & Acilon Grantl CFNI The Executive OITicc - Rcvival Project CFNI- CIM Funding CFNI Community Awnreness fund Live Here Love Here Dept of Foroign Affairs - Momentum fund Ultach Fundl CFNI DCSDC - CC Venue Fund St Stephens Grecn Social Change Inilative Fund Rodius funding CFNI - Social Justice Fund 2,000 70.806 119,464 25.534 41,312 103,344 98.908 7,687 42,997 32,266 17.011 5,919 2,245 21,902 706 24.362 4,229 3,216 ,657 45,278 17,027 2,000 6,000 20,349 5,250 11,255 6,285 2,755 2,400 390.195 353,969 Unrostrietod Tneom Rental Income Other Income Contribution5 to Overhead5 Contribution io Insuran¢e Bank Interest 380.024 3.356 13.982 7,938 45 372,934 11,861 9,196 7.204 59 405,345 401,254 Total Ineomo 795,540 755,223 (i) Rc5trictod Funds Funds received ivhich are earniarked by the Funder for specific purposes. Su¢h purposes are within the ovcrall aim5 of th¢ organisation. Unrestricted Funds Funds Nvhi¢h are expendable at the discretion of the company in furth¢rance of Ilie aims of the charity. In addition funds may be held in order to finance capital inveslment and working capital. Page 24
Creggan nterprises Limlted (A company Aimited by guarantee) Not¢5 lo Ihe ae¢ounts for the year ended 31 Decemb£r 2023 Resollrc Exponded Total Total 2022 2023 As Reslated Unr¢stricted Funds R¢striet¢d Designatod Funds Funds M2nag¢mont & Administration Wages & salarios Pension cosis Staff iraining JRCT-.Focus ¢xp¢nses JRCT- CDP expenses JRCT - GBTS expenses IFI - PYDP Lifehack expenses IFI - PIP expenses 30111 Anniversary expenses TEO Shared Space expcnsos Live Here Love Here expenses DFC - Job Start expcnses DCSDC Grass Rools expenses Social Clionge Initiutive expenses NW Columbian Initiative expense5 St Stephens Green expenses Community Foundation Nl expenses Dept of Forcign Affairs ¢xpenses DCSDC - Venue Fund expenses Radius expenses Oil)or Prograinme expenses Rates & watcr ratos Insurance Light and heat Cleaning and consumables Repairs & mv4intenAnce Printing. postage & stationery Adv¢rtlsing & donations Computer costs Telephone & Intemet Unifornis Travel & subsistence Professional f¢¢s Bank & interest charges General & subscription ¢xpcnscs Bad debis Depreciation 128,273 21,682 207,307 12.705 335,580 34,387 330,888 28.623 1,079 8,074 2,526 E4 32,167 36,090 8.074 2,526 14 32,167 36,090 846 13.575 1,541 2,198 10.679 18.384 20.663 26,825 13,314 1,800 4,393 2.000 846 13.575 1,541 5,960 5.960 11,881 5,803 40,362 3.Q38 2,755 11,881 5,803 40J62 3,038 2,755 11,536 9,865 27,911 24,654 16.907 35,630 1.824 702 1,081 5,959 500 2,093 2,199 25,011 6,501 16.452 116,270 2,762 6.781 23231 11,536 9,865 27,911 24.654 16.907 35,630 1,824 702 1,081 5,959 500 2,093 2,199 879 6,501 16,452 2,546 4,964 6,638 26.548 35.170 14.031 46.396 2.188 745 1,161 4,539 58 3.122 24,132 17.894 1,851 6,970 116,694 113,724 318,040 383,807 137,856 839,703 782,589 Page 25
Creggan Enterprises Limited (A company Iimited by guarantec) Notes to Ihe gccounts for Ihe year ended 31 December 2023 3. 1 Resources Expended Total 2Q22 As R¢$tgted Unrestricted Fund5 Restricted Funds Designated Funds Managerrttnt & Administration Wages & salarles Pension costs Staff training JRCT- CDP expenses JRCT- GBTS expenses IFI - PYDP Lifeha¢k expenses IFI - PIP oxpenses 30th Anniversllry expenses TEO Shared Space expcnses Live Here Love Hero expenses DFC - Job Start expenses DCSDC - GrtLSS Root expcnscs St Stcphens Green expenses Community Fouftdalion Nl expenses CFNI Ultacli expenses Dept Foreign Affairs expenses Other Progrninme ekpenses R8te5 & water rates Insurance Light and heat Cle8ning and ¢onsumabl¢s Repairs & maintenance Printing, poslage & stationery Advertising & donations Computer Costs Telephone & internet Unifornis Travel & subsistence Bank & ittterest charges General & subscriplion expenses Bad debts Depreciation 128,019 18,896 202.869 9,727 1,079 2,198 10,679 18.384 20,663 s,000 13,314 1,800 4,393 2,000 2.762 4,781 2,000 23.232 4.964 330,888 28,623 1.079 2,198 10.679 18.384 20,663 26,825 13,314 1.800 4,393 2,000 2.762 4,781 2,000 23,232 4,964 0.638 26,548 35,170 14,031 46,396 2,188 745 L,161 4,539 58 3.121 17.894 1.851 6,970 116,694 21,825 6,638 26,548 35,170 14.031 46,396 2,188 745 4,539 58 2,S72 876 1,851 6,970 2.966 549 17,018 113,728 321.449 330,394 130,746 782,589 Pggo 26
Creggan Entorprisos Llmitcd (A company limited by guarantee) Notes to th¢ accounts for the year ended 31 December2023 Governance Costs Ullrestricted Funds Restrlcted Funds To*al 2023 Total 2022 Auditors remunerdtion Ac¢ountancy fees 3.750 7,200 3,750 7,200 3.500 7.450 10,950 10,950 10,950 Net (outgolngy Incojning resourees for the year 2023 2022 Net (oulgoingy incoming resources is staled after charging: Dcpreclatlon fmd oll)er 2mounts written off tan8ibl¢ fixed asscts Accounlancy fees AuditOTS' reiniin¢ration 116,270 7.200 3,750 116,694 7.450 3.500 Pagt 27
Creggan Ei llterprises Limited (A company limited by guarantee) Notes to the accounts for the year ended 31 Deeembor 2023 SlarrcostS The aggregate payroll sIS incurred during the year were: 2023 2022 Wages and salarles P¢nsion ¢0sts 335,580 34,387 330.888 28.623 369.967 359,511 The number of employees who earned more than £60,000 during th¢ year was as follows: 2023 NuD]ber 2022 Numb¢r £60,00110 £70,000 No employee received emoluments of more ilian £60.000 (2022: I ) Number of employees The average monthly numbers of p¢isons employed by tha Coillpany during Ihe year, Includlng the directors. amounted to: 2023 Number 2022 Number Administrative slaff 13 Page 28
Creggan Enlerprisos Limitcd (A company limited by guarantee) Notes to tho accounts for the ycar ended 31 De¢ember 2023 TaDglbl¢ Asscls Land and buildlllgs Plant & Flxtures, fitlin85 freebold maehlnery & equipment Total Cost At l January 2023 Additions 5,686.491 173.116 455,039 6,314,646 1257 1,257 At 3 t December 2023 5,686,491 173.116 456,296 6,315.903 Depreciation At l January 2023 ChDrge for the year At 31 December 2023 2.222,041 113,724 173.116 446.106 2,841,263 2,546 116,270 448.652 2,957,533 2,335,765 173,116 Net book value5 At 31 Decembcr 2023 3,350,726 7.644 3.358.370 At 31 Decetnber 2022 3,464.450 8,933 3,473.383 D¢blor5 2023 2022 Trade debtors Other debtors Prepayments 51,658 23,801 2,435 60,698 23,302 2,212 77,894 86.212 Current asset Investments 2023 2022 NICE Shares 250 250 Page 29
CroggaD Enterpri5os Limiled (A company limited by guarantee) Note5 to the accounts for the year ollded 31 Deccmber2023 io. Creditors: amounts falling duo within on¢ yoar 2023 2022 Trade ¢reditors Business credit card Bank loans and overdraft TeS and social security croditor Other creditors Deferrcd income (Note I l) Accruals 12,457 1,007 58,778 21.034 12,355 113,386 15,240 12,167 1,935 85,535 18,020 12,355 120,056 15,797 234,257 265,865 11. Dcferr¢d In¢ome 2023 2022 Balance at l January 2023 Additions during the year Amount5 rel¢ased lo incomc 120,056 139.792 383,525 334.233 (390.195) (353.969) Balance at 31 December 2023 113,386 120,056 12. Long.term liabilllles 2023 2022 Baiik loans 213,205 221,088 13. Security Creggan EnterprisEs Limited is subject to tho following charges: - IAgal charge over 20,000 sq ft units at Blis1 Lane, Derry. -Third legal Charge over property at Bligh5 Lanè, known as Rath Mor Centre - ejo Creggan Entorprisos Limiled. - L£gal mortgage over l 0.000 sq ft unit at Blighs Lane. Dery - ¢10 Creggan Enterprises Limited. Page 30
Creggan Enterprises Limited (A company limited by guarantcc) Notes to the accounts ror th¢ y¢ar cnded 31 December 2023 14. Prior pcriod 8dJuslmont In line with SORP (FRS 102) requirements the capital grant has been rel¢&8ed to income. The comparative amounts for tlie prior period for long ierni liabilities brought forward have been reslated to adjust for the capilal grnnt b8lance to be treated as designatcd fund$. The impact of thi5 adjustinent on the prior period results in a d¢Grwe irt long tenn liabilities of £2,187,968 and in an increas¢ of t¢tal funds brought forward of £2,187.968. Unrestricted funds have been restated and included as designaled funds. Tliis amount includes the not book valu¢ of land and buildlngs less bank loans. The impact of this adjustment on tlie prior period rgsults in a decre&se in unrestricted funds brouglit forward of £1.041,498 and an Increase in dtsignaied lid9 brought forward of £1,041,498. 15. Movoments In Funds At I JAnuary Incoming Outgolng 2023 resources resoureos At 31 December 2023 TrADsfers Restrlcted funds: Joseph Roivntree Charitable Tst International Fund for Ircland - PYDP Jntcmational Fund for Ireland- CIP Dcpartment of Foreign Affairs Tho Executive Office Restricted funds 50.684 (50.670) 103,344 (101.752) 95.908 (98,553) 77.544 (77,478) 24,362 (24.362) 35.353 (30.992) 14 1,592 355 66 121,801 126.162 Tatal rcstricted funds Unrostri¢t¢d funds: Total unrestrlctcd funds 121,801 390,195 (383.807) 128,189 324,368 405,345 (328.990) 400,723 Dosignated funds TotAI funds 3,098,720 (13 7,856) 3,544.889 795.540 (850,653) 2,960,864 3,489,776 Purposes of Restrleted Funds Re5tri¢ted grants awarded to the ¢harity is provided to cover the core objects as explained in directors report. Pagc 31
Creggan Enterprises Limitcd (A company limited by guarantee) Notes to the accounts for tho year ended 31 Dcccmber2023 16. Analysis of not a55ets behveen fullds Unre$trlctcd Restricted Designated Funds Fllnds Funds Total runds Fund balnnces at 31 December 2023 Js represented by: Tanglble fixed &ssets Current assets Current liabilities and deferred inwme Liabilities > l year 184.301 337,291 241,577 (120,869) (113,388) 3,174,069 3,358,370 578.868 (234,257) (213,205) (213,205) 128,189 2,960,864 3.489.776 400,723 16. 1 Analysi5 of net ossets between funds Unrestrlcted RtrIcted Designated Total Funds Funds Funds funds As Restated Ay Restated As Restated As Rcslatcd Fund balances at 31 December 2022 represented by: Tangible fvxed 8ssels Current assets Curr¢nt liabilities Liabiliti¢s > l year 25.951 367.264 191.195 (68.847) (69,394) {127,624) (221.088) 121,801 3,098,720 3,447.432 3,473,383 558,459 (265,865) (221,088) 3.544,889 324,368 17. ReconclllAtlon of Det In¢omol (¢xpcnditure) to net cash tlow from operatlng 2022 2023 As Rr51ated Net in¢ome/ (¢xpendilure) for year (55.113) (38,316) Interest receivable Interest paid (45) 24,132 (59) 17,018 Net resources for year (31.026) (21,357) Page 32
Creggan Enterprises Limited (A ¢ompany limited by guarantee) Notes to Ihe accoullts for the year ended 31 December 2023 18. Analy515 of challges in net eashflow CAsh flows 2022 2023 Long & sliort temi loans (306,623) 34,639 (271.984) (306,623) 34,639 (271,984) C&sh & casli equivalent Total net funds 471,997 28,727 500,724 165,374 63,365 228,739 19. R¢lnt¢d Party Transattlons There were no related party transactions in the period under reviOW. 20. Llmittd by Guurnntee The cojllpany is Ilmiled by guarante¢ and do not have a share capital. Every member of the company undertak¢s to contribute such amount as may be required not cxcccding £1 to tlie assets of tlie charitable company in tlie eveT)t of its being wound up whil¢ he or she is u member, or within on¢ y¢ar after he or shc ¢e£Lses to be a memb¢r. 21. Controlllng party The ultimate control of the company rests with Ihe board of directors. 22. Post Balance Sbeot events No signlficant events have taken place since the year end that would result in adjustments to 2023 financial infomiation or inclusion of a note tliereto. Page 33