Company R•glstratlon No: N1681109 Company Charlty No: 107875 THE BRAID DEVELOPMENT GROUP LTD Company limited by guarantee Dlr8ctor8' report and flnanclal statements For theyear ended 31 March 2024 Th• Brald Deveiopmont Group Ltd Company Limlt•d by guarante• Forthe year ended 31 March 2024 Contents Page Directors. Report Independent Examiners Report to the Directors of The Braid Development group Ltd on the Unaudited Financial Statements Statement of Financial Activities Balance Sheet Notes to the Financial Statements 10-11 The foliowlng do not form part of the flnanclal st8tem8nt5 Detailed income and expenditure account 13 The Brald Development Group Ltd Company Llmlted by guaranteo Forthe year ended 31 MarGh 2024 DSreGtors Stephen Marks Gr•gory Barr Gllllan Forrest Davld Hagan Company Number N1681109 Charlty Number 107875 Régistered offl¢8 7 WoodcFoft Brae Gtsgorm Ballymena BT42 1FY Independent Examlner Brlan Boyd Bankers Ulster Bank Page 1 Th• Brald D•velopment Group Ltd Company Llmlt8d by guarantee Forthe year endad 31 March 2024 The Dlrectorsl Report The directors ofthe company presenttheir report andthe fln8nctalstatementsforthey8arend8d 31 March 2024. Prlnclpal Actlvltles The Company's objects are specifically restricted to the folLowing: (i)The advancement of urban and rural regeneration, redevelopment and revitalization. and the advancement of heritage and community development in the Northern Ireland CounciLAreas of Mid and East Antrim and Causeway Coast and Glens by: a} Promoting economic development for the benefit of the general public; b) Supporting and developingthe work of community-based and voluntary groups in charitable activity by providing support services. accommodation, facilities and othervenues. The Directors are satisfsedthatthe company has achieved its objectives in theysar under review. Dlroctors The company is governed by its Memorandum and Articles of Association. The Directors who served duringthe year are as stated below: Stephen Marks Gregory Barr Gillian Forrest David Hag8n In 8ccordance with the Articles of Associaiion Directors shall be elected by the members 8t 8n Annu81 General Meeting. Directors have assessed major riskstowhich the companyi8 exposed, in particul8rtho3e rel8ted to the operatlons and finances, 8nd are satisfied that systems are in place to mitigate exposure. Page 2 The Brald Devetopm•nt Group Ltd Company Llmlted by guarantee For the year onded 31 March 2024 The Dlrectors, Report Flnanclal Revlew Total incoming resources arnounted to £0 and totsl expended resources amounted to £1,075, leaving a bank balance at the year ended totalling£2.181. Attheyear-end unrestricted funds amounted to£63. and restricted funds amounted to £2.118. Statemfjnt of Dlrector8' Re8pon81bllltl•s The Directors are responsible for preparing the Directors. Annual Report and the financial statements in accordance with applicable law and United Kingdom AcGounting Standards (United Kingdom GenerallyAccepted Accounting Practice). Company law requires the Directors to prepare financial statements for each financial year which give a true and fair view of the charitable company and the incoming resources and application of the resources. includingthe net income or expenditure, of the charitable company for the year. In preparingthese financial statements. the Directors are required to: select suitable accounting policies and then applythem consistently. observe the methods and principles in the Charities SORP makejudgements and estimates that are reasonable and prudent; statewhether applic8ble UKAccountingstandards have been followed. subjectto any material departures disclosed and explained in the fvnancial statements; preparethe financial statements on a going concern basis unless it is inappropriate to presume that the charltable comp8nywill continue in operation. The Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure thatthe financial statements complywith the Companies Act 2006. They are also responsible for Safeguardingthe assets of the charitable company and hence for t8king reasonable steps for the prevention and detection of fraud and other irregularities. Smallcompany Provlslons This report has been prepared in accordance with the special provisions for small companies under Part 15 ofthe CompaniesAct 2006. Page 3 The Brald Development Group Ltd Company Llmlt•d by guarantee Forthe year ended 31 MarGh 2024 The Dlro¢torg1 Report This report Was approved by the Directors at the meeting on 16 January 2025 and signed on its behalf by Stephen Marks Dlrector Page 4 The Brald Dovelopment Group Ltd Company Limited by guarant8e Forthe year ended 31 Mareh 2024 Indapand•nt Examln•rs Report to th8 Dlrector8 of The Brald Devolopment Group Ltd I report on the accounts of the companyfor the year ended 31 March 2024 set out on pages 7 to 13. Respective responslblllties of trustees and examlner As the charity trustees (and also the directors of the companyfor the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myseLf that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibilityto: (1) Examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008: (2} Follow the proGedures laid down in the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act; and (3) State whether particuLar matters have come to tny attention. Basis of Independent examiner's report I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general directions given by the Charities Commission for Northern Ireland under section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept bythe charityand a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as charity trustees concerning any such matters. My role Is to state whether any materi8L matters have come to my attention giving me cause to beLieve: (1} The accounting records were not kept in 8ccordance with section 386 of the Companies Act 2006 (2) That the account5 do not accord with those accounting records (3) That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicabLe to in the UK and R8public of Ireland. (4) That there is further information needed for a proper understanding of the accounts to be reached. Page 5 Independent examiners statement I have completed my examlnation and have no concerns in respect of the matters (1) to (4) listed above and in connection with following the Directors of the Charity Commission for Northern Ireland, I have found no matters that require your attention. Independent Examiner's Report to theTrustees of The Braid Development Group Ltd Brian Boyd 10" January 2025 Page 6 The Brald Development Group Ltd Company Limited by Guarantee for the year ended 31 March 2024 Statement of Flnanclal Activltles Note Unrestrfcted Funds Restrlcted Funds Total Funds 2024 Grants received Bank Interest Donations Total lTreomlng resources RRsouLoesE¥Jonde Charitable activities Administration expenses 750 750 325 325 Total Resources Expended 325 1,075 Net (outgolng)Ilncomlng resources for the year belng net movement In fund5 Funds brought forward 388 2,868 {750) 3.256 11,0751 {325) Funds carrbed fotward 2,118 2,181 All amounts relate to contlnued actlvltles Pag• 7 The Brald Development Group Ltd Company Llmlted by Guarantee Balanc• Sheet fortheyearended 31 March 2024 Notes 2024 CURRENT ASSErs Cash at bank 2,181 CREDITORS Amountsfalllng duewithin one year NET CURRENT ASSETS 2,181 TOTAL ASSEfs LESS CURRENT LIABILITIES 2,181 NEf ASSErs 2.181 FUNDS Unrestricted Funds Restricted Funds 63 2.118 TOTAL FUNDS 2,181 Page 8 Th• Brald Development Group Ltd Company Llmlted by guarantee Forthe year ended 31 March 2024 Balance Sh88t Contlnued: The charitable company 18 entitled to exemptlon from audit under Section 257A of th Companies (Northern Ireland} order 1986 for the year ended 31 March 2024. The members have not required the charitable company to obtain an audit of its financi statements for the year ended 31 March 2024 in accordance with Article 257B(2) of t Companies (Northern Ireland) order 1986. The trustees acknowledge their responsibilities for (a) Ensuring that the charitable company keeps accounting records that comply w. Section 386 and 387 of the Companies Act 2006 and (b) PreparingfinanciaL statementswhich give a true and fair view of the state of aff airs thecharitable companyasatthe end of eachfinancialyear and of its surplusordefi for each financiaL year in accordance with the requirements of Section 394 and and which othenvise compLy with the requirements of the Companies Act 2 relatingto financial st8tements. so far as applicable to the charitable company. it Thesefinancialstatements have been prepared in accordance with the special provisions of 15 of the Companies Act 2006 relating to smaLL charitable companies and with the Finan Reporting standard for Smaller Entities (effective January 2015). The financial statements were 8PPToved bythe Board of Trustees on 16 January 2025 and w signed on its behalf by: ial en Mark3 Trustee/Diractor The notesform part of the financlal statements Page 9 The Brald Development Group Ltd Company Llmlted by guarantee For the year ended 31 March 2024 Notes to the Flnanclal Statements 1. ACCOUNTING POLICIES a) Basls of preparlngthe financlal statements The financial statements are prepared on the going concern basis. b) Accountlng convantlon The financial statements have been prepared under the historical co convention and in accordance with the Financial Reporting standard for Small Entities (effective April 2008), the Companies Act 2006 and following t recommendations in Accounting and Reporting by Charities: Statement Recommended Practice (SORP 2005) issued in March 2005. c) Incoming Resources Incoming resources are included in the Statement of Financial Activities in t period in which they 8re receivable. Grant income is included in the period of receipt. d) Expendlture Expenditure is recognised in the period in which it is incurred and is alloGated expense headings on a direct basis. e) Funds The charitabLe company has two types of funds forwhich it is responsible. A definition of the two types of funds is as follows: Restrlctèd Funds Funds received which are earmarked bythe donor for specific purposes. Suc purposes are within the overall aims of the company. (11) Unrestrlcted Funds Funds which are expendable at the discretion of the directors and have been designated for specific purposes to furtherthe objects of the charity. Page 10 Notes to tha Financlal Statements- Continued 2. INGOMING RESOURCES ALL incoming resources are included on the Statement of Financial Activities when the charity is legalLy entitLed to the income. Grants Revenue grants are credited to incoming resources on the earlier of the da of when they are received orwhen they are receivable. Donatlons Donations are credited to incoming resources in the period to which they relate. 3. DEBTORS 2024 Trade Debtors 4. CREDITORS 2024 Trade creditors 5. FUNDS Restrlcted Unrestricted To Fund Fund At 1 AprlL 2023 Net (outgoing)lincoming resources for the year At 31 March 2024 388 (325} 2.868 (750) 2.118 3.256 (1,075 2,181 6. TRANSACTIONSWITH DIRECTORS None of the Directors, or any person associated with them has received or is du receive any renumeration for the year, either directly or indirectLy from the com funds. to ny 7. COMPANY LIMITED BY GUARANTEE The comp8ny is registered under the Companies Act 2006 and is a company lim by guarantee. The members of the company are the directors named on page 1. company is 8lso an exempt charity. Page 11 ted he The Brald Development Group Ltd Company Llmlted by guarantae For theyear ended 31 March 2024 Th8 followlng pages do not form part of the statutory accounts Pagg 12 The Brald Development Group Ltd Company Llmlted by Guarantee for the yèar ended 31 March 2024 Detailed Income & Expendlture Aeeount 2024 Grants Bank Interest Donatlons TOTAL INCOMIP4G RESOURCES Administration Fees 50 Professional Fees 275 Progratnme Costs 750 TOTAL RESOURCES EXPENDED 1.075 NEf EXPENDITURE 075 Pa8e 13