Company Reglstrallon Number. N1026031 Charfty Number. 107652 Glenelly Development Trust Llmited (A ￿Th￿ny 11ml1￿ ty guarniim not hwlny a 8hJr• GapIknII Annual Roport and Unaudited Flnanclal Statements for tha financial year endod 31 March 2025 Glenelly Development Trust Limited (A compjry Ilmtt¢d trj guarnntee, nat kning • $h•rp cttpitsll CONTENTS Page 'redors' and Other Infomiation Directors, Annual Report ststement of Directors, Responsibilities Statement of Financial Activitie8 Balance Sheet Note8 to the Financi81 Statements 9-13 Supplementary Informatton relating to the Financial Statements 15 Glenelly Development Trust Llmlted IA company Ilmitod by g￿ran￿O. not h•Ying a sharo4xpitrIJ DIRECTORS, AND OTHER INFORMATION Directols Ivan McKelvey L80 Mccullagh W￿1118M McKelvey ne Bradley Peter McCullwJh Teren￿ Mccauley John Pinkerton Patrrcia Mi*lulty John McGlinchey Mart( m￿Ul489h Brenda Motris Nio)la Pinkerton Rob8rta Wau(*Job Robèrt McFarland John Gormley &'obhan Mccullagh Oliwa McGillion {Appointed 3 Marth 2025) Colette Ktldunne (Appoint8d 3 March 2025) Company Secr8tsry Brenda Morrfs Ch*rJty Numbor In Northern Iroland 107852 Compony Roglotratlon Numbgr N1026031 Reg18tgrod Offlce and Prfnclp•l Addre•s 11B Main Street Plumbridgo Omagh Co Tyrona Bf19 8A Northem Ireland Accountants Abbey Hous8 12 Abbey Street Omagh Co Tyrone BT78 1 BZ Northem Ireland prtnclpal Bankers Ulster Bank 14 High Street Omagh Co Tyrone BT18 1P Northem Ir818nd Scllclto Fox La Glenelly Development Trust Llmlted IA ¢omp4ny liThltgd lry guarn* not Iwlng a shafe upllal) DIRECTORS. ANNUAL REPORT for the financial year ended 31 March 2025 The directors present their DirecloF5' Annual Report. (XHnbf￿ng Ihe DiTrdnTg Report and Tntss. ReFhyL and the unauditoj finanaal sktements forthe firwiri81 year eni*d 31 March 21725. finanaal slatements are Prep￿ in 8(xx)rdW￿ 7héth the Companles A(* 21Th. FRS 102 'The Financial Rewting Stsndard applicable in the UK and Republic of Irelan(r and Aco)unting and Repcrting by Chanlies: Statement of Recommended Practi￿ ap￿Icable to thariti'es prepanrwJ tsir financtal 8tatements in attordan¢e with the Finanaal Rewting s￿dard app]Kable in the UK and R8public of ItelarKI (FRS 102). The Dir￿tOrI Rep¢)rt contains the infomiation requroJ to be provifjed in the Direclorg Annual Report urKler the Statement of Re(x)mmended Pradiix (SORP) guidek'ne& The dirertors of the company are also tharity trustees for the purpose of (l￿rty law and under ts fxJmp•rfs constÉiubon aré kn(Y*¥n as rnembers of the board of trustees. In this report the direcaors of Glenelty Development TrL45t Limited present a summary of its purwse. govem8nce, a(*vities. achiev8mènts and financas for the finanaal year 31 March 2025. Thg company is a reJ'stered charity and hen￿ the report and resutt8 are rrf8S8ntsd in a fom vthich campli8S With the requirements of the Companies A¢t 2(￿ and. although not obliged to comply the Statsment of Recommended P￿ctiCe appliGqtA8 in the UK Rewbllc ol Ireland FRS 102. th8 organisation ha8 implemented re(x)mmendations wtr￿re relevant in thtte financ4al staternents. PrlnclpAI Aedvlty The prmapal aclivity of the company In ts year ￿der review was that ￿ promottng tho relief of poverty and the Iv8n(*ment of edu￿tiOn by pr(Nlding training faalFtre8 for the ar4ulsillon and devek)pment of ocGYp8b'onal skllls d work exeri8n¢z. Flnanclal Rovlow The r￿U￿$ for the finand81 yèar are set out on page 7 and additional nitss are provlded Showing Income and o￿ndIt￿re in greater detail. Flnanclal R8suIts At the end ofthe finandal year the ￿mParbY has assets of£431,833 (2(Y24- £429,393) and lfrabilltie8 Of £8,560 (2024 - £1S,175). The net assets ofthe company h8ve increased by £9.055. Dlroctors The dlrectors wtJO 8erwJ thrwghLwt the finanual year, axcept as noted, ￿T4r0 95 foll Ivan McKelvey Leo Mccullagh William McKelvey Anne Bradley Peter Mccullagh Terenc8 Mccauley John Pinkerton P8tricia MCNU John McGlinthey Mark Mccullagh Brenda MorTiS NIc￿a Pinkerton Roberta WaUd￿b Rot*rt McFadand John Gormley Siobhan Mccullagh Olivia McGfllion (Appointed 3 Marth 2025) Colette Kildunne IAppointed 3 Marth 21r2¥ Th6 seuetary who served during the financial yearvA& Brenda Morris Compliance v41th S•ctor.Md8 Legknlatlon and Stsndardg The ojmpany engages prw*vely TAqlh legislation, slandards and ts)de5 ￿thIch af8 dèveloped for the 8ector. Glenelty Development Trust Limiled sUb￿"beS to and is compliant wilh the folloY4ryry: The Compantes Act 20 The Ch*iti8s SORP (FRS 1tr2) Glenelly Development Trust Llmlted (A company Ilmltod by not IN¥lng a ohare caplta DIRECTORS. ANNUAL REPORT for the fin￿rial yearended 31 Marth 21Y25 Approved by the Board of Director• on 10 March 2026 and $Fgned on Its behalf by: Brenda Morrf8 Dlrector Glenelly Development Trust Llmited IA ctynpJny Ilmltpd by gu&ranM not l*¥lng a $harg ¢apitsl STATEMENT OF DIRECTORS. RESPONSIBIUTIES for￿ finanaal year end8d 31 Marth 2025 The Ifirectss are respO￿lbIe for preparing the finar¥i81 statemenls a￿￿ble law and regulatIc￿$. Company law requffes the direc*ws to wepare finanual staternents 8ach finanual year. Under that law the diyerlors have elected to prepare the finan(ial StateM￿ts in aCc0Tdan￿ United Kingith Generalty Accepted Aoxjunting Pr8t*ce (United Kingdom ALxounllng &antsrds and applicable lthv) indurfing FRS 102 'The Financial Reporting Standard wl1(ab￿ in the UK and Repu￿￿ of Ireland" Sectlon 1A (Sfflall Enlilies). Under company law the direc*ors must not approve the finanrial statements ￿l&s$ are salisfied that they gile a true and fair vlew of the state of affairs of the company and of the surplus or defi(xt of the o)mpany for that peri(¥J. In prep8TSng these finanoa statsme@ the directors are requlred to: seled suitable xowntiryJ rx)licaes and appty them consrstentty: rnake judgements and estimates that are reasonab￿ and PTud stste whether the finandal statwnents have been prepared in a¢xOnlan￿ %Mth the relevant financ481 reporbng framawijrk. idenbfy those standard& and note the eff&t •nd the for any materlal departure from those 4t8ndards' and prepar& the financial statemerts ￿ the golng o)ncem trAsl8 unle$8 It Is inappropiiate to preswne that the (yjmpany will (yjntinue in operation. The dlrectors o)nfim that they have complied ￿1th the above requremènts In wepaTlTrJ the finana818tatements. The dire(#¢Jr8 are respor*ible for keepwo ad8quats all￿ntIng recuds that are 8uffiiient to sh¢)w and explain the (x)mpanVs tranSaCtic￿S and dlsdose wEth reasonable 8rxurdCy at any timè thè finandal position of the company aTr enable th8m to ensure that the financial statemwrts compEy with the c¢￿PanieS ALrt 20LB. They are ￿80 responsible for safèguardlng the assets ofthe ccKnpany and ￿n¢& hr taking rea$￿able steps for the prevention and detection of and other irregufarities. Approved by tho Board of Dlr•ctors on 10 March 2026 and slgned on Its bohlf by: Bvenda Morrf• Dlrnctor Glenelly Development Trust Limited (A ¢ompany Ilmltod ty guarnnlee, not hI￿ng a sharo ￿p1￿) STATEMENT OF FINANCIAL ACTIVITIES Onerrfpornting an In¢omo and ExpgndltsrnAccourt) for the financtal year ended 31 March 2025 Total Unr&strirted Restricted Fund¥ Funds Funds 2024 2024 Funds 2025 Funds 2025 Furnls 2024 Notss Incom Charilable activities . Grants from govemments and other cTrfund8rs S&967 61928 121895 59,621 68,860 127.281 Expendltura Chaiitable activities 49,963 63m 111840 63,588 88,504 132,072 Not Incom•l{oxpendlturn) 51 (4.947) {4,791) Tran818rs betsyeen funds NBt movement In fund• lorthe Ilnanclal year 51 9.055 (4.94n (4.791) Reconclltstlon of lunds: Totsl fijnds *inning ofthe year 12 387,765 26,453 414218 392.712 26,297 419,lJ)9 Tolal fvnd• at th• end ¢)f tho y•ar 396,769 423.273 387.785 414,218 The Slatemant of Flnancial Aclivtbes indudes dl galns and losses rw*ognlsed in th8 finanL?al year. All Snwme and expenditure r91ate to continuing e(1[￿ti The notes<￿ p• 9 to 13 form partofthe finanLiaJ statements Glenelly Development Trust Llmited (A compjny IITnitod by guaAnl• not Iwvlng 8 shar• c•pl¥l) Company Number. N1026031 BALANCE SHEET as at 31 March 2025 2025 2024 Flxed Assets Tangibl8 assets 338.032 350,697 Cuffent A¥¥ets Debtors Cash at bank and in hand 16.960 77.841 13.578 65,120 93,801 78,696 Credltorn: Amounts falllng dua *lthln ono y￿r 10 (8 (15.1751 Net Currnnt Awts 85.241 63,521 Totsl A880ts108s Currnnt Uabllltl•8 414,218 Fund8 Restricted trust fvnd5 General fund (unrestri 26.453 387,765 396,769 Totsl fund8 12 423.273 414.218 These financ4al statements have been prepar￿1 in with the special provisions relating to Small ￿)Mpanies wiEhln Part 15 ofthe Companiès Pd 20(￿. For the financial year ended 31 2025 the (xmnpany WBS entrtl￿j to exemption from audit under section 477 of the Companles Ad 2006.. and no notice has bgen deposited under sec#ion 476. The direGtorB cornlmi the members have not requlred the company to obtsin an audit of its financral statements fortho financial year In we￿10n in ary￿rdan￿ with *aion 476 ofthe Companles Art 21J)6. The dlreciors acknomedge thelr re6ponsiblllttes for ensurfng that tha comp8ny keeps a(tsJunting record$ ¥thi¢h (x)mply w7th sectlon 386 and for prepaing fin8n¢ial ststements which give a twe and fair view of the state of affairs of Ihe company as at the end of the fin8ncial year and of its profit loss for the fina￿￿al year in aG¢ordance the requirements of Sections 394 and 395 and vthic* Othe￿7&e comply the requwements ofthe Companies Act 2LIJ6 relaling to finanaal statwnents, so far a6 applioble to the (￿pany. Th8 financial statements have been prepared in aCr£Irdar￿ ￿ the pmlislons app￿cable to companies 6ubjeGt to Ihe sm811 wmpanles. regim8 and in ac(3)rdance with FRS 1rr2 "Th8 Finanoal Reporting Standard applicable in the UK and Republic of Ireland", applying Seclion 1A ofthat Standard. Approved by the Board of Dlre¢torn and authorfqed lor h•ue on 10 March 2ty28 and tlgnèd on Its bèhalf by Bronda Morrf• Dlrector The nofes ￿ py 9 to 13 fomi part ofts state[r￿ts Glenelly Development Trust Limited (A ¢ompary Ilmltod ty guarankn. not havlngashar• capjtyll NOTES TO THE FINANCIAL STATEMENTS forthe finanoal year ended 31 March 2025 GENERAL INFORMATION Glenelly Development Twst Limited 15 a company limited by gLwar]tee Itv))rporated in Northem Ireland. The registered offi￿ of the company is 11B Main Street Plumbridge. Omagh, Co Tyrone. BT79 8WI Northem Ireland wthich is also the principal pla￿ of business of the company. The financtat ststements have be esenbj In P￿nd (£) whtch is also the funrtionai ￿rrencY oflhe company. SUMMARY OF SIGNIFICAKf ACCOUNTING POUCIES Th8 following xcxjunting poficles havg been applied consistently in dealing with items vhlich are a￿sIdered material in relation lo the chaiity's financtal statements. Ba818 of preparallon The finan(ial statements havè been prepared on the goiry (x)ncem basis under th& histor1￿￿ cosi convention. mTrJified to indude ￿rtaIn items at fair value. The finanaal ststements have been prepared in COrdan￿ with thè Statement of Recommended Practice (SORP) "Accountlng and Reporting by Charities 8paring thwr accounts In accordance vdth Financyal R8portrThJ Stsndard app￿cable in th8 UK and Republic of Irèland FRS 1(r2". awying SeL*on 1A ofthat Standard. AS pemiitted by the Comp8nies Ad 2c￿. the ccthpany has vaned the Stsnd￿d fomiats In that act for th8 Statement of Flnanoal ALaIvrt￿S and the Balanct Sheet. Departures from the standard fofmats are lo wnply Y*th the requirements of Charities SORP and are In corn￿13n￿ wlth secbon 4.7. 10.6 and 15.2 of that SORP. statomont olc¢xnpllan¢e The finanoal stalements of the company forthe ilnancial year eTrYed 31 Dec8mber 2017 have been prepared on the going con*m basis and in aC￿rdanCe with th8 of Recommended Practice {SORP} "Accounting and Reportlng by Charities preparing their ac(x)unts In X¢Ordan￿ with Ihe Flnancial R8POrting Standard applI￿ble in the UK and Republic ol Ireland FRS 102" applying Sectton 1A ofthat Standard. Fund accountlng The following are the *ories of fund8 melntslned: Regtrl¢ted fun Restric￿ funds represent incx>me receiv￿1 whth can only be used lor p8rti￿1ar p(Mposes. as spedfiad by the don0￿. purposes wilhin the mrall obi8clN66 Ot oynpany. Unr•strfcted fund• UnrestrhXad fvrKJs c4)nsist of General and Designated fijnds. . General funds represent amounts whith aro expendable at the disLTetion of Ihe board. in furtheran￿ of the oty'e(a6ves of th8 ojmpany. • Deslgnated fijnds comprise unresblcted funds that the board has. at its discretton, sel aside for Part1￿18r purposes. These designgtions have an admI￿atIve pjrpose only, and do not legally r8strr¢t the toards (IsL¥8tFon to apply the fund. Income Ino)me 18 reix)gnlsed by indusion in the Statement of Finandal Activilies onty when th8 cornpany is legally entilled to the in￿rne, perfomance conditiorbs attathed to the rtem(s) of income have b￿n met. the amounts involved can be measured with sufficient reliabilFty and it is probabl8 that the income VAII be ￿1Ved by the u)mpany. Income Irom tharitsble aclfvhlés IrKome from charitable adivrltes indude ino)m8 &wned from the supply of servios under ¢x)ntra(*u81 arrangements and frorn perfom?ants related gMts which have conditions that specify the P￿YEs1on of parti(xJlar ser￿￿ to be provtded by Ihe (J)mpany. In￿rne from govemfflent and other cTrfvnders is r8coJnised when the company is legatly enlitled to the Incxjme be￿use it is fulfflliw the conditM￿S (x)ntsined in the related fundtng agreements. Where a grant Fs recesved in advan￿, Its remgnition is deferred arKI induded in creditors. ￿ere enliUem8nt occurs before income is received. Èt is acuuea in debtor5. Grants from govemments and dher CO•funders typicalty Include of the foll(wing typ8s of ￿ndItI￿* . PerfO￿nan￿ based (xy￿1￿. whereby company És o)rtracknlty entilled to funrfing only to the extent that the core objectives of ts grant agreematt are athieved. Wthere the company is meekng the core continual Glenelty Development Trust Limitsd IA ¢oThpany Ilmltod by guaTr4nts•, not a sharn capitsl) NOTES TO THE FINANCIAL STATEMENTS forth8 ￿anCial year eThled 31 Marth 21Y25 objedives of a grant agreemenL it T￿nISeS Ihe related exp￿thire, to the extent that it is reimbursable by the donor. as inrjjme. .rime based en1￿11101￿. wlwEby th& (ryny is D)rrtr8thally ￿tilled to fvndiry on th8 that it Is Lrtilised in a Parti￿lar perifxl. In these L>ses th8 0)mpary recognises tho incomè to the extent it is ub'lised within th8 P8ri0d sperjfied in the agree￿￿nt In the absence of corKlikn'ons, assuming that receipt Is probable and the arn¢)unt can b8 reliajly mea8ur8d. grant Income is recognised on¢* the ￿rnpany Is notifwj of ￿lI￿lent. Grants received towards Ca￿ta exp8nditure are u8(rrt8d to th& Statwn8nt of Financ4al Activities when recetved or ￿1Vable. whichever Is earlier. Expendttur• Expertditure 15 analysed betrAEen o)sts of ch8ritsble 8(*lvliies and raislrrfJ funds. The LY)sts of each activity are separately attumulated and disdosed. and ￿alysed aL£orthg to their major cornp￿ents. Expenditure 18 recrynised wh&n a lagal or c¥nstru¢th obligatton exists as a res￿1 of a past èvent, a transfaf of economlc benefrts is Tequired in Settlement and the 8moLmt of obligation (xn be reliably measured. Support costs e those functbns that assist the woth of the comp8ry but (8nnot bg attfsbuted to one adivity. Such costs are allocated trJ athvities in prOport￿n to *aff bmg spent or other 8Uitablg me8SUTe for ea¢h Tanglble fixed a88ets and d•prKtatlon Tangible fixed assets are stated at or at V8lu8tton, less ac￿mUlated depreciation. The charge to depreciatlon Is ¢3lcu18te(I to write off the orignal cost or valuation of tangible fixed assets, less ￿1r estimated residual value. over tsir expect&d useful lives as ft)IkyK'. Land and buildirvJs freehold Fixtures, fittings and equipmoni Motor vehide5 2% Straight Ilne 25% Rwjucing balance 25% Straigm line Debtors are recogntsed at the 8ettfement amount due after any olst knlng a shaT• ¢aplW) NOTES TO THE FINANCIAL STATEMENTS forthe fin￿￿al year end&1 31 March 2ry25 DEBTORS 2025 2024 Trade debtors Taxalion and swial se￿Ilty cx)sts 15,960 12,146 15.960 13,576 10. CREDITORS Amounts falllng due wlthln one year 2026 2024 Trad8 cre(Ators Taxatron and sctial Se(￿11ty (xlsts Other ¢Thlitors A(>￿al5 ar¥J delerred ino>m Pension a(rwal 0th8r accruals 4.042 121 6,110 447 1.613 47 4350 1,655 15,175 11. RESERVES 2026 2024 At the Lwinning ¢*the year surplu￿10erKal) for the financial y88r 414318 9.056 419,CQ9 (4,791) Atthe end of the year 423,273 414,218 12. FUNDS 111 RECONCIUATION OF MOVEMENT IN FUNDS Total Funds Funds Funds At 1 Awil 2Q23 Mov￿ent during the fir￿￿41 year 392.712 {4.94n 28,297 156 419,C#)9 (4.7911 At 31 March 2024 Movement durSng the financial year 387,765 26.453 51 414,218 9,055 At 31 March 2025 396,769 26.504 423,273 112 ANALY818 OF MOVEIAETrW& ON FUNDS Balance 1 Aprfl 2024 Inconw Eyndlturn Trdnsfern between fund• Balance 31 March 2025 Restrict& Unrestrfcted lund8 umesir1(￿ General 28.453 83.928 $3.8 26,504 387.765 58,967 49.963 398.769 Total fund• 414218 121895 114840 423,273 12 Glenelly Development Trnst Limited (A company limlt•d ty gu8rants*. not Imvlrya sharn ¢apilal) NOTES TO THE FINANCIAL STATEMENTS for the finanoal year ended 31 March 2￿ 12.3 ANALYSIS OF ASSETS BY FUND Cumt Current Ilabllltla8 . charity Unrestricted general funds 3W032 93.801 (8,5601 423.273 338.032 93N1 (8.560) 424273 13. STATUS The company 16 limibs by guarantee not having a shBre capilaL The liability of the member818 fimit&l. Every member of the (xjmpany undertak8S to (x)ntthrt8 to ts es80ts of the company in th8 8V8nt of b8ing vffjund up while thgy are members, or wthin one f￿ancIal year thereafter. ft)r the payment of the debts and liabilit185 gf the company Gontra¢Xed tth)re they ￿Sed to l* Members. and the o%ts, th8ryes and exp8nse8 of y￿nding up, and for the adjusbngnt of the rights of the contributors among themselves. such amount as may be required. not exceeding £ 1. RELATEO PARTY TRANSAGfioNS Durfng the year, one of the diredors carrfed Ixrt V*t)rk on behatf of Glenelly Development Tnjst Ltd. Thi8 transaction was at amis length and the follthyin9 amounts afè induded in the financial statements; 8asslonal Costs £7.767 Community activity £550 15. POST.BALANCE 8HEEf EVEKrs There have baen no Signi￿nt events affectlng the Charity since the finaniaal ye8r-end. 13 GLENELLY DEVELOPMENT TRUST LIMITED (A compary Ilmlted IYJ I￿t havlng a *h•r• eapNal) PPLE ANC RT REN 14 Glenelly Development Trust Limited (A compary Ilmltod by not tovlnga share Gaptil) SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS Owdbng Statement forthe financial year ended 31 Marth 21Y25 2025 2024 46.513 Wages salarie6 Stsff dèfined contributton pension (xists 18.170 124 6.979 4.280 1,768 14.070 Light and hèat Cleaning and maintenanc Repairs and maintenarK* Telephone Computer costs 1,882 1,760 Expendliure re AcbVttie￿ea13 Legal and profession81 4xxiuntan¢y Bank charges General expenses Surplusesldefic4ts on dlspJBal oftsngibles Dep￿A8110n 61.080 424 191 122 (1.330 171 229 10. 114840 131.915 IAknl1aneo￿ Incom• Revenue grants received 88nk interest 76,928 378 76A06 ,811 Nèt Surpl￿defi¢lt) 9.055 (4.791) The supplemen* 1nftvmat1￿ d(w p8rt of the finarrial statem 15