Company Registration No: NI681109 Company Charity No: 107875
THE BRAID DEVELOPMENT GROUP LTD Company limited by guarantee
Directors’ report and financial statements For the year ended 31 March 2025
The Braid Development Group Ltd
Company Limited by guarantee
For the year ended 31 March 2025
Contents
| Page | |
|---|---|
| Directors’ Report | 2-4 |
| Independent Examiners Reportto the Directors of | |
| The Braid Developmentgroup Ltd | |
| on the Unaudited FinancialStatements | 5-6 |
| Statement of Financial Activities | 7 |
| BalanceSheet | 8-9 |
| Notes tothe FinancialStatements | 10-11 |
| Thefollowingdo notform part ofthefinancialstatements | |
| Detailedincomeandexpenditureaccount | 13 |
The Braid Development Group Ltd
Company Limited by guarantee
For the year ended 31 March 2025
Directors
| Directors | Stephen Marks |
|---|---|
| Gregory Barr | |
| Gillian Forrest | |
| David Hagan | |
| CompanyNumber | NI681109 |
| CharityNumber | 107875 |
| Registered Office | 7Woodcroft Brae |
| Glagorm | |
| Ballymena | |
| BT42 1FY | |
| independentExaminer | Brian Boyd |
| Bankers | UlsterBank |
Page 1
The Braid Development Group Ltd
Company Limited by guarantee For the year ended 31 March 2025
The Directors’ Report
The directors of the company present their report and the financial statements for the year ended 31 March 2025. Principal Activities 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 Council Areas 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 developing the work of community-based and voluntary groups in charitable activity by providing support services, accommodation, facilities and other venues.
The Directors are satisfied that the company has achieved its objectives in the year under review. Directors The company is governed by its Memorandum and Articles of Association.
The Directors who served during the year are as stated below:
Stephen Marks Gregory Barr Gillian Forrest David Hagan
In accordance with the Articles of Association Directors shall be elected by the members at an Annual General Meeting.
Directors ag assessed major risks to which the company is exposed, in particular those related to the operations and finances, and are satisfied that systems are in place to mitigate exposure.
Page 2
The Braid Development Group Ltd
Company Limited by guarantee
For the year ended 31 March 2025
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Financial Review
Total incoming resources amounted to £0 and total expended resources amounted to £1,234, leaving a bank balance at the year ended totalling £946.42.
At the year-end unrestricted funds amounted to £0.
and restricted funds amounted to £947.
Statement of Directors’ Responsibilities
The Directors are responsible for preparing the Directors’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted 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, including the net income or expenditure, of the charitable company for the year. In preparing these financial statements, the Directors are required to:
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e select. suitable accaunting policies and then apply them consistently;
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e observe the methods and principles in the Charities SORP
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e make judgements and estimates that are reasonable and prudent;
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e state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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- prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charitable company will 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 that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small Company Provisions
This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.
Page 3
The Braid Development Group Ltd
Company Limited by guarantee
For the year ended 31 March 2025
The Directors’ Report
This report was approved by the Directors at the meeting on 20" January 2026 and signed on its behalf by
Stephen Marks Director
Page 4
The Braid Development Group Ltd
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Company Limited by guarantee
For the year ended 31 March 2025
Independent Examiners Report to the Directors of The Braid Development Group Ltd
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| report on the accounts of the company for the year ended 31 March 2025 set out on pages7 to 13.
Respective responsibilities of trustees and examiner
As the charity trustees (and also the directors of the company for 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 responsibility to:
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(1) Examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008; (2) Follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act; and
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(3) State whether particular matters have come to my attention.
Basis of Independent examiner’s report
| 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 by the charity anda 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 material matters have come to my attention giving me cause to believe:
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(1) The accounting records were not kept in accordance with section 386 of the Companies Act 2006
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(2) That the accounts 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 Republic of Ireland.
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(4) That there is further information needed for a proper understanding of the accounts to be reached. Page 5
Independent examiners statement
| have completed my examination 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, | have found no matters that require your attention.
Independent Examiner’s Report to the Trustees of The Braid Development Group Ltd
Brian Boyd
19" January 2026
Page 6
The Braid Development Group Ltd Company Limited by Guarantee for the year ended 31 March 2025
Statement of Financial Activities
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||||||
|---|---|---|---|---|
|Note|Unrestricted|Restricted|Total|
|Funds|Funds|Funds|
|2025|
|Incoming|Resources|
|Grants|received|0|0|0|
|Bank|Interest|0|0|0|
|Donations|2|0|0|0|
|Total incoming resources|0|0|0|
|Resources Expended|
|Charitable|activities|0|500|500|
|Administration expenses|63|671|734|
|Total Resources Expended|63|1,171|1,234|
|Net (outgoing)/incoming|resources for the|
|year being net movement|in funds|63|2,118|2,181|
|Funds brought forward|(63)|(1,171)|(1,234)|
|Funds carried forward|0|947|947|
|All amounts|relate to continued|activities|
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Page 7
The Braid Development Group Ltd Company Limited by Guarantee Balance Sheet
for the year ended 31 March 2025
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|---|---|---|---|
|Notes|2025|
|£|
|CURRENT ASSETS|
|Cash|at bank|947|
|CREDITORS|
|Amounts|falling due within one year|4|0|
|NET CURRENT ASSETS|947|
|TOTAL ASSETS|LESS CURRENT|LIABILITIES|9A7|
|NET ASSETS|947|
|FUNDS|5|
|Unrestricted|Funds|0|
|Restricted|Funds|947|
|TOTAL FUNDS|947|
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Page 8
Company Limited by guarantee
The Braid Development Group Ltd
For the year ended 31 March 2025
Balance Sheet Continued:
The charitable company is entitled to exemption from audit under Section 257A of the Companies (Northern Ireland) order 1986 for the year ended 31 March 2025.
The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Article 257B(2) of the Companies (Northern Ireland) order 1986.
The trustees acknowledge their responsibilities for
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(a) Ensuring that the charitable company keeps accounting records that comply with Section 386 and 387 of the Companies Act 2006 and
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(b) Preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of eachfinancial year and of its surplus or deficit for each financial year in accordance with the requirements of Section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The financial statements were approved by the Board of Trustees on 20" January 2026 and were signed on its behalf by:
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fe Marks
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Trustee/Director
The notes form part of the financial statements
Page 9
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The Braid Development Group Ltd
Company Limited by guarantee For the year ended 31 March 2025 Notes to the Financial Statements ase pasado es manele ile sgt denen nce tacsbeliaiebcinehennsiaaesnalsichassieaomuansansiaiat
- ACCOUNTING POLICIES
a) Basis of preparing the financial statements The financial statements are prepared on the going concern basis.
b) Accounting convention The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and following the recommendations in Accounting and Reporting by Charities: Statement of Recommended Practice (SORP 2005) issued in March 2005.
c) Incoming Resources
Incoming resources are included in the Statement of Financial Activities in the period in which they are receivable.
Grant income is included in the period of receipt.
d) Expenditure
Expenditure is recognised in the period in which it is incurred and is allocated to expense headings on a direct basis.
e) Funds
The charitable company has two types of funds for which it is responsible. A definition of the two types of funds is as follows:
- (i) Restricted Funds
Funds received which are earmarked by the donor for specific purposes. Such purposes are within the overall aims of the company. (ii) Unrestricted Funds — which are expendable at the discretion of the directors and have been designated for specific purposes to further the objects of the charity.
Page 10
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2. INCOMING RESOURCES
Allincoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income.
e Grants
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Revenue grants are credited to incoming resources on the earlier of the date of when they are received or when they are receivable.
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e Donations
Donations are credited to incoming resources in the period to which they relate.
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3. DEBTORS 2025
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Trade Debtors me
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4. CREDITORS
CREDITORS 2025 z Trade creditors =79)
| 5. | FUNDS | Restricted | Unrestricted | Total |
|---|---|---|---|---|
| Fund | Fund | |||
| = | £ | £ | ||
| At 1 April2024 | 63 | 2,118 | 2,181 | |
| Net (outgoing)/incoming resources forthe year | (63) | (1,171), | .(1,234) | |
| At31March2025 | 0 | 947 | 947 |
6. TRANSACTIONS WITH DIRECTORS
None of the Directors, or any person associated with them has received or is due to receive any renumeration for the year, either directly or indirectly from the company funds.
7. COMPANY LIMITED BY GUARANTEE
The company is registered under the Companies Act 2006 and is a company limited by guarantee. The members of the company are the directors named on page 1. The company is also an exempt charity.
Page 11
The Braid Development Group Ltd
Company Limited by guarantee
For the year ended 31 March 2025 aee
The following pages do not form part of the statutory accounts
Page 12
ee
The Braid Development Group Ltd Company Limited by Guarantee Detailed Income & Expenditure Account for the year ended 31 March 2025
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|---|---|---|
|2025|
|=|
|INCOMING RESOURCES|
|Grants|0|
|Bank|Interest|0|
|Donations|0|
|TOTAL INCOMING RESOURCES|0|
|RESOURCES EXPENDED|
|Administration|Fees|234|
|Professional Fees|500|
|Programme|Costs|500|
|TOTAL RESOURCES EXPENDED|1,234|
|NET EXPENDITURE|(1,234)|
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