E-sign ID.. 91a21107-482043¢3-b2b4-d7b52b&186a2 Company registration number.. N1019220 Charity registration number.. 107516 Down Business Centre Limited IA compary limited by guarantee) Annual Rewrt and Finanaal Statements for the Year Ended 31 March 2025 KPS Accountants Limited Chartered Tax Advisers Registered Auditors 35 Irish Street Downpatrick Co. Down BT30 68W E-sign ID.. 91a21107-482043¢3-b2b4-d7b52b&186a2 Down Business Centre Limited Contents Reference and Administrab"ve Details Trustees, Report 2to6 Independenl Auditors. Report 7t010 stalement of Finanaal Activities Balan￿ Sheet 12 Noles to the Financial Slatements 131016 E-sign ID.. 91a21107-482043¢3-b2b4-d7b52b&186a2 Down Business Centre Limited Reference and Administrative Details Chairnian Mr Patrick Michael Morrissey Trustees Ms Linda Beers Mr Joe Mccoubrey Mr Patrid( Michael Morrissey Mr Patrick Brown - resigned 116124 Mr Mark John Mumin- resigned 14112124 Miss Mary- Louise Press Mr Brendan Lowry Ms Alison Matthews Philip Campbell Elaine Flynn Damian Campbell Mr Gareth Sharvin Secretary Ms Linda Beers Charity Registration Number 107516 Company Registration Number N1019220 The charity is incorporated in Northern Ireland. Down Business Park 46 Belfast Road Downpatrick Co Down BT30 9UP Registered Office Auditor KPS Accountants Limited Chartered Tax Advisers Registered Auditors 35 Irish Street Downpatrick Co. Down BT30 6BW Page 1 E-sign ID.. 91a21107-482043¢3-b2b4-d7b52b&186a2 Down Business Centre Limited Trustees, Report Public Benefit Statement The Directors {Trusteesl of Down Business cent￿ confimi that they have complied wth their duty under section 4{b} of the Charities Act (Northem Ireland) 2008 to have regard to the Charity Commission for Northern Ireland's guidance on public benefit and that the public benefft requirement has infomied the activities of the charitable company in the year ended 31 March 2025. Structure, Governance, and Management Down Business Centre Limited is a Company Limited by Guarantee and is a registered Charity with The Charities Commission Nl. It is a not-for-profit organisa*"on. Down Business Centre Limited is currenly governed by a Board of membersldirectors. The Board can c(FopI new membersldirectors as and when required. All Down Business Centre staff are responsible to the Board through the Chief Executive Officer. New directors are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and deasion-making process, the business plan, and the recent financial performance of the charity. This and other infomiation is contained within a Board Handbook, which is revised and updated at least On￿ per year. Board members are free to discuss any issue wth our directors or key employees. Directors are encouraged to attend any appropriate exiernal training events where these will facilitate the undertaking of their role. The board ensures the good governan￿ of the organisation by setting its trategic objectives and policy direction through a Corporate Plan and monitors progress on a monthly basis. Down Business Centre is a member of Enterprise Northem Ireland, an umbrella organisation for all local enterprise agencies within Northem Ireland. Down Business Centre acts as a sutkcontrador for Enterprise Northem Ireland programmes and pays an annual membership fee. Objectives and activilies Charitable Objectives The objectives of Ihe Cenlre are the promotion for the public benefit of urban and rural regeneration in Ihe Newry Moume and Dovm area by all or any of the following means 1. The relief of unemployment in such ways as may be thougm fit. induding assistance to find employment, or to explore self*mployment opportunilies- 2. The advancement of education, training, or retraining. particulaty among unemployed people, and providing unemployed people wlh work experience", 3. The provision of financial asSistsn￿. technical assistan￿, business advice or consultancy in order lo provide training and employment opportunibes for unemployed people in cases of finanaa or charitable need through help in setting up their own business., 4. The creation of training and employment opportunities by the provision of workspace units and office space for use on favourable lerms., 5. The disseminab'on and circulation of infomiation to enable small business to take advantage of funding andlor support opportunib"es', 6. Assessing and signposting business ovlners to support provided by other thir(kpaity organisations. Page 2 E-sign ID.. 91a21107-482043¢3-b2b4-d7b52b&186a2 Down Business Centre Limited Trustees, Report To meet these objectives the Centre carries oul the following activities.. 1. Providing workspace accomm(xlation to small businesses at tsvourable temis induding renl and letting arrangements., 2. Delivering programmes and providing advice for the support of the main areas of enterprise, enterprise awareness, business start, and exisb.ng businesses. 3. Organising and delivering informaty'on seminars on a range of business-related topics., 4. Offering ad hoc advi￿ and support to individuals seeking to stsrt Iheir own business., 5. Providing ad hoc advice and support to existing businesses. Strategic report The followng sections outlining achievements and Performan￿ and financial review form the strategic report of the charity- Achievements and Perforniance The business performance has improved over the last 12 months. Occupancy levels at our site in Downpatrick have averaged 98 /0 occupancy. Pre-stsrt and Start-up programmes have been delivered for Newry, Mourne and Down District Council, Enterprise Nl and the Department for the Economy. Delivery of Go Succeed Programrne in the Newry Moume and Down District Durir)g the year ended 31 March 2025. We dealt with 482 enquiries and provided 135 Business Plans and 84 Enterprise Acb'on Plans for businesses. Delivery of the Exploring Enterprise Programme in the Newry Moume and Down District A total of 10 dient5. Partnering with Newry & Moume Ccpoperative and Full arde Management Solutions in delivery of the Newry Moume and Down Growth Prograrnme. Our input consisted of providing mentoting sUPPOrt to 83 established businesses. In partnership with Newry and Moume c￿opera11ve and Newry Moume and Down District Council we delivered 399 hours of mentoring with 19 clients through the Labour Market Partnership. 17 of which are now in self-employment. . We delivered 31 workshops, networking events and business events. Other Activities We have made an investment and upgrades to the site completing works of tannaang and mainlenance of our sleel canopies. We have also focused our marketing strategy wilh the aim of increasing our profile and engagemenL Financial Review The financial statements cover the year ended 31st March 2025 and are prepared on an accruals basis ￿lch is in keeping with the accounts of previous years. Total income for Ihe year was £407.268 12024., £323,764), total expenditure for the year was £380,822 12024,. £286,846), resulting in a surplus of £26,446 (2024.. £36.918). At 31 March 2025. totsl fvnds were £800,49812024,' £774,0521- Page 3 E-sign ID.. 91a21107-482043¢3-b2b4-d7b52b&186a2 Down Business Centre Limited Trustees, Report External Relationships A Memorandum of Understsnding is in pla￿ wth Newry & Moume Cooperative for joint delivery of funded programmes in our Council area suth as Labour Market Partnership and Innovate Accelerate. In partnership with Newry & Mourne Cooperative, the charity has also been accorded Preferred Supplier status for the delivery of various small economic development inib'atives on behalf of Newry Mourne and Down District Council. Our Manager has continues to work dosely with other economic development organisalions within our region. These included.. . The County Down Rural Community Neknrk Newry Moume & Down Strategic Stakeholder Forum Downpatrick Irish Street Regeneralion Committee Local Economic Partnership Newry Moume and Down District Council South Eastern Regional College Invest Nl stralegic Outcomes The followng outcomes were achieved throughout the year in response to our objectives.. 1. Financial targets were exceeded for the year. 2. Key external partner relationships have been enhanced and are being developed. 3. We continue to support new employment through the delivery of the Go Succeed Programme,. and 4. We delivered our allocated budget Labour Market Partnership- Enterprise Pathway Programme. Plans for future period It is anticipated that the core objectives of the new plan wll remain in line wilh our current objectives, which include". 1. Position Down Business Centre as a hub for business start-up and growth support and advice in the East & Mid Down Region. 2. Develop a sustainable financial model which optimises revenue opportunities and manages costs effectively for Down Business Centre lo support the growth plans of the ￿ntre. 3. Develop an organisational structure to support the operational delivery of the DBC strategy for 202>26. 4. Provide a range of business start-up and g￿)￿ programmes and advisory support services lo businesses and enterprises in Ihe region. 5. Provide and expend the propety and accommodation portfolio to support start-up and growth orientaled businesses and enterprises in the region-, and 6. Become a ￿ntre leading on sustainability and social responsibiltty in the region as an example of best practi￿. Post yearwend cornrnitments There were no post-year commilments or contracts or payments entered into at the dose of the year ended 31 March 2025. Page 4 E-sign ID.. 91a21107-482043¢3-b2b4-d7b52b&186a2 Down Business Centre Limited Trustees, Report Trustees, responsibilities statement The Trustees, who are also directors for the purposes of company law, are responsible for preparing the Trustees, report and the financial statements in accordan￿ wth applicable law and United Kingdom Accounting Slandards (United Kingdom Generally Accepted Accounling PractI￿)- Company law requires the charity trustees to prepare finanaal statements for each year which give a true and fair view of the state of affairs of the charitatrAe company and the incoming resour￿$ and application of resources, including income and expenditure, for that period. In preparing these financial statements, the trustees are required to.. select suitable accounb.ng policies and then apply them consistenlly., observe the methods and principles in the applicable Charities SORP., make judgments and accounting esb'mates that are reasonable and prudent,. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going con￿rn basis unless it is inappropriate to presume that the charity wll continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disdose wth reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial Statements comply with the Companies Act 20(E. They are also responsible for safeguarding the assets of the charity and hen￿ for taking reasonable steps for the prevention and detection of fraud and other irregularities. Statement of Disclosure of Infomiation to Auditor In so far as the directors, who held Offi￿ at the date of the approval of these financial statements, are aware.. there is no relevant audit information of which the company s auditor is unaware.. and the directors have taken all sleps that they oughl lo have taken to make themselves aware of any relevant audit information and to eslablish thal Ihe auditor is aware of that infomation. Small company exemption This report has been prepared in accordance with the speaal prowsions relating to small companies wthin Part 15 of the Companies Act 2006. Directors. Emoluments The direclors re￿iVed no remuneration during the year and no reimbursement of expenses. Auditor Each of the persons who is a trustee at the date of approval of this report conffim)s that.. so far as they are aware, there is no relevant audit informalion of which the charity's auditor is unaware,. and they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The auditor is deemed to have been r&appointed in accordan￿ section 487 of the Companies Act 2006. Small cornpanies provision statement This report has been prepared in accordance wth the small companies regime under the Companies Act 2006. Page 5 E-sign ID.. 91a21107-482043¢3-b2b4-d7b52b&186a2 Down Business Centre Limited Trustees, Report The annual report was approved by the trustees of the charity on 1 October 2025 and signed on its behalf by.. J McCouL>rey P M Morrissey Mr Joe Mccoubrey Trustee Mr Patrid( Michael Morrissey Chairnian and Trustee Page 6 E-sign ID.. 91a21107-482043¢3-b2b4-d7b52b&186a2 Down Business Centre Limited Independent Auditorfs Report to the Members of Down Business Centre Limited Opinion We have audited the finanaal statemenls of Down Business Centre Limited (the 'charity') for the year ended 31 March 2025, which comprise the Statement of Finanaal Activities, Balan￿ Sheet, and Notes to the Finanaal statements, including a summary of significant accounting poliues. The financial reporting framework thal has been applied in their preparation is United Kingdom Accounting Stsndards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Irdand, and applicable law {United Kingdom Generally AC￿pIed Accounb"ng Practi￿). In our opinion Ihe financial statements- give a true and fair view of the stste of the charivs affairs as at 31 March 2025 and of its incoming resources and application of resources, induding its income and expenditure. for the year then ended,. have been propedy prepared in accordan￿ with United Kingdom Generally Accepted Accounting Practi￿, and have been prepared in accordance wth the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordan￿ Intemational Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibililies under those slandards are further described in the auditor responsibilities for the audit of the financial statements seclion of our report. We are independent of the chanty in accordance with the ethical requirements Ihat are relevant to our audil of Ihe financial statements in the UK, induding the FRC'S Ethical Standard, and we have fvlfilled our other elhical responsibilities in accordance wth these requirements. We believe that the audit eviden￿ we have obtained is suffiaent and appropriate to provide a basis for our opinion. Conclusions relating to going con¢em In auditing the financial statements, we have conduded that the trustees use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any material Un￿rtaIntieS relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going con￿rn for a period of at least ￿1ve months from when the original financial statements were authorised for issue. Our responsibilities and the responsibilities of the trustees wth respect to going concern are described in the relevant sections of this reporL Other information The trustees are responsible for the other information. The other infomiation comprises the information induded in the annual report, other than the financial statements and our auditorfs report thereon. Our opinion on the financial statements does not cover the other infomation and, eX￿pt to the extent otherwse explicidy stated in our report, we do not express any form of assuran￿ condusion thereon. In connection with our audit of the financial statements, our responsibility is to read the otrer infomiation and, in doing so, consider whether the other information is materialty inconsistent with the financial statements or our kno￿edge obtained in the audit or otherwse appears to be materialty misststed. If we identify such material inconsistenaes or apparent material misstatements, we are required to deterniine ￿ether there is a material misstatement in the financial statements or a material misstatement of the other infomiation. If, based on the work we have performed, we condude that there is a material misstatement of this other infomiation, we are required to report that fact. We have nothing to report in this regard. Page 7 E-sign ID.. 91a21107-482043¢3-b2b4-d7b52b&186a2 Down Business Centre Limited Independent Auditorfs Report to the Members of Down Business Centre Limited Opinion on other matter prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Slrategic Report and Trustees, Report for the finanaal year for which the financial statements are prepared is consistent wth the financial slalements,. and the Strategic Report and Trustees, Report have been prepared in accordan￿ wth applicable legal requirements. Matters on which we are required to report by exception We have nothing to report in respect of the followng matters vthere the Companies Act 2006 requires us to report to you if, in our opinion". adequate accounting records have not been kept. or retums adequate for our audit have not been received from branches not visited by us", or the financial statements are not in agreement wth the accounting records and retums.. or certain disclosures of trustees remuneration specified by law are not made,. or we have not re￿iVed all the infomiatr.on and explanats.ons we require for our audit Responsibilities of trustees As explained more fully in the trustee's responsibilrties statement (set out on page 5}, the truslees are responsible for the preparation of the finanual statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the finanaal statements, the trustees are responsible for assessing the charitys ability to continue as a going concern, disdosing, as applicable, matters related to going con￿rn and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operats'ons, or have no realisb'c alternative but to do so. Page 8 E-sign ID.. 91a21107-482043¢3-b2b4-d7b52b&186a2 Down Business Centre Limited Independent Auditorfs Report to the Members of Down Business Centre Limited Auditorfs responsibilities for the audit of the financial statements We have been appointed as auditor under section 65{2) of the Charities Act (Northem Ireland) 2008 and report in accordance wilh regulations made under sectson 66 of that ACL Our objectives are to obtain reasonable assuran￿ about ￿ether the financial statements as a whole are free from material misslatement, whether due to fraud or error. and to issue an auditoffs report that indudes our opinion. Reasonable assurance is a high level of assuran￿, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when il exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic deusions of users taken on the basis of these finanaal ststements. Irregularit"es, induding fraud, are InStan￿S of non-complian￿ laws and regulations. We design procedures in line with our responsibilib'es, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of deted.ng irregularits"es, induding fraud is detailed below.. Risk of management override of controls was addressed by providing management wth details of any adjustments to the accounts which they then sign to agree any changes occurring", Revenue recognition was audited using analyb.cal review wth further substantive testing where ne￿ssary., Discussions with management, induding consideration of known or suspected InStan￿S of non-complian￿ wth laws and regulations and fraud., Identification and testing of significant manual journal entries-, and Evaluating and, where appropriate, challenging assumpkn'ons and judgement made by management in making significant accounting estimates. Because of Ihe inherent limitations of an audit, there is a risk that we will nol detect all irregularities, including ihose leading to a material misstatement in the financial statements or non-complian￿ wth regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial slatements, as we wll be less likely lo become aware of InStan￿S of non-compliance. The risk is also greater regarding irregularilies occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresenlats'on. As part of an audil in accordance wth ISAS (UK). we exeruse professional judgement and mainlain professional scepticism throughout the audiL We also.. Idenlify and assess the risks of material misstatement of the financial statements, ￿ether due to fraud or error, design and perform audil procedures responsive to those risks. and obtain audit ewdence that is sufficienl and appropriale lo provide a basis for our opinion. The risk of nol detecting a material misstatemenl resulting trom fraud is higher Ihan for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of intemal control relevant to the audit in order to design audil procedures that are appropriale in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charitable company's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting est"mates and related disclosures made by the trustees. Condude on the appropriateness of the trustees. use of the going con￿rn basis of accounting and, based on the audit eviden￿ obtained, whether a material uncertainty exists related to events or conditions that may cast Signifi￿nt doubt on the charitable company's ability to conts.nue as a going concern. If we condude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disdosures in the financial statements or, if such disdosures are inadequate, to modify our opinion. Our condusions are based on the audit eviden obtained up to the date of our auditorfs reporL However, future events or condib.ons may cause the charitable company to ￿ase to continue as a going COn￿rn. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation {i.e. gives a true and fair view). Page 9 E-sign ID.. 91a21107-482043¢3-b2b4-d7b52b&186a2 Down Business Centre Limited Independent Auditorfs Report to the Members of Down Business Centre Limited We communicate with those charged wth governan￿ regarding. among other matters, the planned scope and timing of the audit and significant audit findings, induding any significant deficiencies in intemal control that we identify during our audit. Use of our report This report is made solely to the chaTTtable companws trustees, as a body, in accordan￿ with Part 4 of the Charities (Accounts and Reports) Regulations (Northem Ireland) 2015. Our audit work has been undertaken so thal we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fijllest extent permitted by law, we do not ac￿p1 or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed. K Smyth ¥JrySyt Kyran Smyth {Senior Slatutory Auditor) For and on behalf of KPS Accountanls Limited. Statulory Auditor Chartered Tax Advisers Registered Auditors 35 Irish Street Downpatrick Co. Down BT30 6BW 1 October 2025 Page 10 E-sign ID.. 91a21107-482043¢3-b2b4-d7b52b&186a2 Down Business Centre Limited Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Total 2025 Note Income and Endowments from: Charitable activities Other income 117,051 290,217 117,051 290,217 Total income 407,268 407,268 Expenditure on: Expenditure Charitable activities {320,0691 60,753 (320,[￿9) 60,753 Total expenditure 1380,8221 (380,8221 Net income 26.446 26,446 Net movement in funds 26,446 26,446 Reconciliation of funds Total funds brought forward 774,052 774,052 Total funds carried fowdrd 800.498 Unrestricted funds 800,498 Total 2024 Note Income and Endowments from: Charitable activities Other income 73,328 250,436 73,328 250,436 Total income 323,764 323,764 Expenditure on: Expenditure Charitsble activities {255,2231 31,623 (255,2231 31,623 Total expenditure 286,846 286.846 Nel income 36,918 36,918 Net movement in funds 36,918 36,918 Reconciliation of funds Total funds brought forward 737,134 737,134 Total funds carried forward 774,052 774,052 All of the charivs activities derive from continuing operations during the above Iwo periods. The notes on pages 13 to 16 form an integral part of these finanaal statements. Page 11 E-sign ID.. 91a21107-482043¢3-b2b4-d7b52b&186a2 Down Business Centre Limited (Registration number: N1019220) Balance Sheet as at 31 March 2025 2025 2024 Note Fixed assets Tangible assets 1,694,929 1,721,160 Current assets Deblors Cash at bank and in hand 53,491 118,013 72,664 147,344 171,504 220,008 Creditors: Amounts falling due within one year 79,619 88,%8 Net current assets 91,885 131,040 Tolal assets less current liabilities 1,786,814 1,852,200 Creditors: Amounts falling due after more than one year 986,316 1,078,148 Nel assets 800,498 774,052 Funds of the charity: Unrestricted incorne funds Unrestricled funds 800,498 774,052 ToLIl funds 800,498 774,052 The financial statements on pages 11 to 16 were approved by the trustees. and authorised for issue on 1 October 2025 and signed on their behalf by.. J Mccoubrey P M Morrissey Mr Joe Mccoubrey Trustee Mr Patrid( Michael Morrissey Chaimian and Trustee The notes on pages 13 to 16 form an integral part of these finanaal statements. Page 12 E-sign ID.. 91a21107-482043¢3-b2b4-d7b52b&186a2 Down Business Centre Limited Notes to the Financial Statements for the Year Ended 31 March 2025 1 Accounting policies Statement of compliance The financial ststements have been prepared in accordance with Accounting and Reporting by Charities.. Slalemenl of Recommended practi￿ {applicable to charities preparing their accounts in accordan￿ wilh the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 102}} (issued in October 20191- (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Basis of preparation Down Business Centre Limited meets the definition of a public benefit entr'ty under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othetwse stated in the relevant accounting policy notes. Income and endowments All incoming resour￿$ are included on the Slatement of Finanaal Acbvities when Ihe charity is legally entitled to the income and Ihe amount can be quantified with reasonable accuracy. Expenditure Expenditure is accounted for on an accruals basis and has been dassified under headings that aggregate 811 cost related to Ihe category. Where costs cannot be diredy attnbuted to particular headings they have been allocated to aclivities on a basis consistent wth the use of resou￿$. Government grants Government grants are recognised based on the accrual model and are measured al the tsir value of the asset received or receivable. Grants are dassified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over Ihe expected useful life of the asseL Where part of a grant relating to an asset is deferred, it is recognised as deferred income. Taxation The charity is exempt from corporation tax on ils charitable activities. Tangible fixed assets Individual fixed assets are recorded al cost, less any subsequent accumulated depreaation and subsequent accumulated depreciation and subsequent impaimient losses. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to wite off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows". Asset class Land and buildings Depreciation method and rate 2Yty on cost 20.10 on reducing balan￿ and 10 /0 on reducing balan Plant and machinery, etc Page 13 E-sign ID.. 91a21107-482043¢3-b2b4-d7b52b&186a2 Down Business Centre Limited Notes to the Financial Statements for the Year Ended 31 March 2025 Fund structure Unrestricted income funds are general funds that are available for use at the trustees disCre￿.0n in furtherance of the objectives of Ihe charity. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is induded in the notes lo the ffinanaal slatements. 2 Staff numbers The average number of persons employed by the company during the year. was 612024- 4). 3 Income frorn charitable activities Un￿striCted funds General Total 2025 Programming Income 117,051 117,051 Unrestricted funds General Total 2024 Programming Income 73,328 73,328 4 Other incorne Unrestricted funds General Total funds Events income Job Start grant Rental income 11.538 10.291 268.388 11,538 10,291 268,388 Totsl for 2025 290,217 290,217 Total for 2024 250,436 250,436 Page 14 E-sign ID.. 91a21107-482043¢3-b2b4-d7b52b&186a2 Down Business Centre Limited Notes to the Financial Statements for the Year Ended 31 March 2025 S Tangible fixed assets Land and buildings Fumiture and equipment Total Cost At 1 April 2024 Additions Disposals 2,818,439 31,391 230,208 3,639 13471 3,048,647 35,030 {347) At 31 March 2025 2,849.830 233,500 3,083,330 Depreciation At 1 April 2024 Charge for the year Eliminated on disposals 1.125,959 56,995 201,528 3,989 70 1,327,487 60,984 70 At 31 March 2025 1,182,954 205.447 1,388,401 Nel book value At 31 March 2025 1,666,876 28,053 1,694,929 At 31 March 2024 1,692.480 28,680 1,721,160 Included within the net book value of land and buildings above is £1,666,934 12024 - £1,692,480} in respect of freehold land and buildings. 6 Debtors 2025 2024 Trade debtors Other debtors 14,599 38,892 64,466 8,198 53,491 72,664 7 Cash and cash equivalents 2025 2024 Cash on hand Cash at bank 14 147,330 118,013 118.013 147,344 Page 15 E-sign ID.. 91a21107-482043¢3-b2b4-d7b52b&186a2 Down Business Centre Limited Notes to the Financial Statements for the Year Ended 31 March 2025 8 Creditors: amounts falling due within one year 2025 2024 Bank loans 43,112 9,927 4,230 14,786 1,201 6,363 44,336 21,569 3,006 17,012 624 2,421 Trade creditors other taxation and soual security VAT Other creditors Accruals 79,619 88,968 9 Creditors: amounts falling due after one year 2025 2024 Bank loans Deferred income 319,688 666,628 364,864 713,284 986,316 1,078,148 10 Pension and other schemes Defined contribution pension scheme The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account 11 Related paty transactions During the year the charity made the following related party transactions: Directors (Trustees) (During Ihe year an amount of £24,178 {2024.' £42,843) was paid to three d1￿CtorS for consultanGy services provided in relation to the delivery of external business support services under various funded programmes.} At the balan￿ sheet date the amount due tolfrom Directors (Trustees) was £Nil {2024- £Nil). Page 16 E-sign ID.. 91a21107-482043¢3-b2b4-d7b52b&186a2 Down Business Centre Limited Statement of Financial Activities by fund for the Year Ended 31 March 2025 Unrestricted Funds Total Total Unrestricted Unrestricted Funds Funds 2025 2024 Income and Endowments from: Charitable activities Other income 117,051 290,217 73,328 250,436 Total income 407,268 323,764 Expenditure on: Expenditure Charitable activities {320.069) 60,753 (255,2231 31,623 Total expenditure 380,822 286,846 Net income 26,446 36,918 Net movement in funds 26,446 36,918 Reconciliation of funds Total funds brought forward 774,052 737,134 Total funds carried fowdrd 800,498 774,052 This page does not fomi part of the ststutory financial ststements. Page 17 E-sign ID.. 91a21107-482043¢3-b2b4-d7b52b&186a2 Down Business Centre Limited Detailed Ststement of Financial Activities for the Year Ended 31 March 2025 Total 2025 Total 2024 Income and Endowments from: Charitable activities lanalysed below) Other income {analysed below) 117.051 290.217 73,328 250,436 Total income 407,268 323,764 Expenditure on: Expenditure {analysed below) Charitable ath"vities (analysed below) 1320,069) 60,753 (255,2231 31,623 Total expenditure 1380,822) (286,8461 Net income 26,446 36,918 Net movement in funds 26,446 36,918 Reconciliation of funds Total funds brought forward 774.052 737,134 Total funds carried fowdrd 800,498 774,052 This page does not fomi part of the ststutory financial ststements. Page 18 E-sign ID.. 91a21107-482043¢3-b2b4-d7b52b&186a2 Down Business Centre Limited Detailed Ststement of Financial Activities for the Year Ended 31 March 2025 Total 2025 Total 2024 Charitable activities Training re￿iptS 117,051 73,328 117,051 73,328 Other income Rental income Job start grant Events income 268.388 10,291 11,538 243,956 6,480 290,217 250,436 Expenditure Wages and salaries Staff NIC (Employers) Staff pensions Travelling Rent and rates Light, heat and power Licenses and insuran Repairs and renewals Telephone and fax Sile costs Operating leases Marketing Auditor's fees Legal and professional fees Bad debts written off Bank charges Loan interest Amortisalion of govemment grants Deprecialion of freehold property Depreciation of fixtures and fittings Depreciakn"on of office equipment IProfit}Iloss on sale of tangible fixed assets held for charity's own use 1179,2421 112,764} 16,837) 11,490) (2,686) 113,085} (5,419) (5,068) (2,053) 116,744) (121,7321 {6,2381 {6,5171 {1,0301 20.636 {14,0801 {5,2631 {2,4601 {1,7991 {18,3291 {6,8381 {8,3311 {3,3601 {30,7161 {1,8371 {2,0951 {31,5511 46,656 {56,3671 {2,5581 {1,4141 {7271 (3,360) 119,454} (3,459) {55) I￿,369> 46,656 156,995) 12,420) 11,568) 70 320,069 1255,223 Charitable activities Enterprise fees Events cosls 157,045} 3,708 {31,6231 60,753 31,623 This page does not fomi part of the ststutory financial ststements. Page 19 •E.Sy This Documenl has been ￿gn￿ with a Se¢U￿ ele¢trMi¢ Signaty￿￿a E-&grL Envelope Details Down BUSI￿SS Centr8 ￿MIled Author KPS linfo@kpstafxxukl Envelope Crtated on Thu. 09 (kl 2025 16..10..12 Erwelope10 91a211074820-43c3-b2b4-dnfj21E186a2 Document Details Title Down Business Centre Lirnited Annual Rew)rt arKI UnauLlited Finanu& Staternenls YE 31.03.2025 for signing.wll.p¥Jf Dlgltal Nngarprlnt 1l4e76a4-7￿7-43ff-a￿￿daloalaa4SC2 Documenl Signers starJClick the QR C7oJ399fcc249 Name ran Sm Email k5tnyth66@IdoL￿.{X)M Statu5 SIGNED at Fri. 10 2025 18".25..37 BSTI401￿) &gnature Fingerptint 77e87acts.ale2432&b89W05l808d￿9 Documenl Hisiory Fri, 10 Oct 2025 18.'25'.38 Kyran Smyth Signed the thjcument lip.. 5.70.185.248) Thu, 09 Oct 2025 21:22:20 Mlchad Morrlssey Signed Ihe D￿￿nI lip". 149.￿.170.1O8l Thu, 09 Oct 2025 16:11:14 Joe McCoubr8y sVjn￿ th8 Ocajmenl IIP.. 86.184.193.247> KAS ISO 27(K)I