Company Number:N1637859
Charity Number:NIC107940
Triax Social Economy Projects Ltd
(A ¢ompony Ilmlted by guarant¢¢)
Accounts
for the year ended 31 March 2023

Triax Social Economy Projects Ltd
(A company limited by guarantee)
Contents
Page
Information
Directors Report
Independeiit Examiner's Report
Stateinent of Financial Activities
Balancc Slieet
Notes to tlie accounts
8-12

Triax Social Economy Projects Ltd
(A company limited by guarantee)
Information
Company No:
N1637859
Charity Iyo:
NIC107940
Directors
Raymond Brown
Sean Mc Monagle
Oonagh Quigg
Eddie Breslin
Karen Cunningham
LouiseAnn Kilkie
Appointed 30111122
Appointed 30111122
Appointed 23111122
AccountAnt$
McGroaty Mccafferty & Company Ltd
Accountants & Tax Consultants
2 Carlisle Terrace
Derry
BT48 6JX
Registered Office
128 Lecky Road
Derry
BT48 6NP
Pagc I

Triax Social Economy Projects Ltd
(A company limited by guarnntee)
Report to the Directors for the year ended 31 March 2023
The dircctors present their report and the financial statements for the year ended 31 March 2023.
Our Alms and Objectivcs
The Charity is established to promote the benefit of the inhabitants of the Triax Area (which in¢ludes Creggan,
Bishop Street, Fountain, Bogside and Brandywell) and the immediate environs (the "area of benefit") without
distinction of sex, sexual orientation, age, race, ethnicity, disability or political or religious opinions by
associating the statutory authorities, voluntary organisations and inhabitants in a common effort to combat social
isolation and engage the beneficiaries in social, recreational, health, support and educational pursuits in order to
enhance their quality of life and promote a vibrant and healthy community spirit.
We will achieve tl)is by:
l. Advancing arts, culture and heritage by co-ordination and development of festivals, tours, exliibitions and
otlier eveiits and programmes and by encouraging community participation in arts and cultural activities.
2. Advancing community development by providing practical support to Community and voluntary organisations
in Ilie area of benefit so as to increase their efficiency and eff¢ctiv¢ness and to encourag¢ such organisations to
co-operate to achieve tlieir aims.
3. Promoting the protection, enhancement and improvement of tlie built environment and the provision of public
amenities.
4. To advance education and training and promoting tlie physical, intellectual and social d¢velopment of young
cliildren.
5. Advancing health and promotiiig physical and mental well-being and participation in healthy recreation.
6. Developing the capacity and skills of residents of communities in the area of b¢n¢fit that suffer social and
ecoiioini¢ disadvantage, in sucl) a way that they are better able to id¢ntify, and help m¢¢t, their n¢¢ds and
participate Inore fully in society.
7. Providing fa¢1 Iities in tlie interests of social welfare for recreation and other leisure time occupations with the
object of improving the Conditions of life for tlie said inhabitants.
8. Promoting equality aiid diversity and rellgious and racial harmony by encouraging participation in a range of
inclusive and a¢¢es5ible programmes wliicli strive to bring together all sections of the community.
9. Promoting social enterprise and such other charitable purposes as may from time to time be detennined.
10.Proinoting co-operation and partnership working between community and voluntary groups, public and
statutory agencies and bodies and private sector organisations to help achieve these Objects.
I l.Promoting and carry out, or assTSt in promoting and carrying out research, surveys and investigation and
publish the useful results thereof.
12.Orgaiiising or assist in organising meetings, lectures, classes and exhibitions, and publish or assist in
publishing reports, periodicals, recordings, books or other documents or infonnation.
Fillancial Review
The financial perforiiiance is summarised in the enclosed accounts
Structure, Governance and Management
Governin
Document
Tlic organisation is a company with charitable status. The entity was formed on 15th April 2016. The company
was eslablislied under Memorandum & Articles of Association which outlined the area of benefit and the objects
of the charitable organisation.
Page 2

Re.cruilment and A
ointment of the Board of Directors
Tlie directors of the company are also charity trustees for the purposes of charity law and under the company's
Articles are known as meinbers of the Board. Under the requirements of the Memorandum and Articles of
Association, one third of the members of the Board must stand for re-election at the Annual General Meeting.
All In¢mbers of Board give their time voluntarily and receive no benefits from the Charity.
Obli
atioii
of the Boar
The main obligation of the Board are to develop and oversee the implementation of policy and to ensure that
structures and Inanagement Complies with legal requirements and good governance practice. The Board meets
every second Inonth aiid reports on past developments and future plans are presented.
Risk Mana
ement
The Project Manager provides a monthly report to tlie Board which includes a financial report and an update on
project developinent.
Responslbilities of thc Board of Dlrcetors
In addition to the responsibilities outlined above the Board will prepare financial statements for each financial
year ivliicli give a fair and true view of the state of affairs of the charitable company as at the balance sheet date
and of its iiicoming resources and application of resources, including income and expenditure for thc financial
year. In preparing Iliose financial slatements. the Board should follow best practice and;
selecl suitable accounting policies and apply them consistently.
observe the melliods and principles in the Charities SORP 2019 (FRS102).
make judgements and estimates that are reasonable and prudent; and prepare financial statements on the going
Concern basis unless it is not appropriate to assume tliat the company will continue on that basis.
state whether applicable UK Accounting Standards have been followed, subject to any material departures
disclosed and explained in the financial statements.
prepare tlie financial statements on tlie going concern basis unless it is inapproriate to assume the company will
continue in business..
Tlie directors are responsible for maintaining proper accounting records which disclose with reasonable accuracy
at any time tlie financial position of tlie charity and enables them to ensure that the financial statements comply
with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the charity and
lience for taking reasoiiable steps for the preventlon and detection of fraud and other irregularities.
This report is prepared in accordance ivith the special provisions of part 15 of the Companies Act 2006 relating to
small companies and in accordance with SORP 2019 (FRS102).
This report was approved and autliorised for issue by
he Boar
on and signed on its behalf by.
Dire
tor
Director
Louise IL&Lfi £
IGlql23
Page 3
2blq 123

Triax Social Economy Projects Ltd
(A company limited by guarantee)
Independent Examiner's Report on the unaudited financial statements to the directors of
Destined Ltd
We report on the accounts of the charity for the year ended 31 March 2023.
Rcspcctive responslbilities of charlty committee members and examiner
As the charity's directors you are responsible for the preparation of the accounts in accordance with the
requirements of the Companies Act 2006. Flaving satisfied ourselves that the charity is not subject to audit
uiider compaiiy law, and is eligible for independent examination, it is our responsibility to:
examine tlie accounts under Section 65 of the Charities Act;
follow tlie procedures laid dowii in the general Directions given by the Commission under Section 65(9) (b)
of the Cliarities Act.
state whether particular matters have come to our attention.
Basis of Independent examiner's report
We have examined your charity accounts as required under Section 65 of the Charities Act and our
examination was carried out in accordance with the general directions given by the Chkrity Commission for
Northern Ireland under Section 65 (9)(b) of the Charities Act.
The e.xamination included a review of the accounting records kept by the charity and a comparison of the
accounts preseiited with those record5. It also included consideration of any unusual items or disclosures in the
accouiits, and seeking explanation from you as charity directors concerning any such matters.
Our role is to state whether any mat¢rial matters liave come to our attention giving us cause to believe:
l.That accounting records were not kept In accordance with S¢ction 386 of th¢ Companies Act 2006.
2.Tliat tlie accounts do not accord witli those accounting records.
3.That ihe accounts do not coinply with the accounting requirements of section 396 of the Companies Act 2006
and witli the metliods and principles of the Cliarities Statement of Recommended Practice applicable to
cliarities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Repliblic of Ireland.
4.Tliat there is further informaiion needed for a proper understanding of the accounts to be reached.
Indepcndent Examlner'$ Statement
We can confirm we are qualified to undertake the examination and ar¢ regulated and a member of Chartered
Accounlaiits Ir¢laiid, which is on¢ of the listed bodi¢5.
We have completed our examination and liave no concerns in respect of the matters 1 4 listed above and, in
connection witli the following Directions of the Charity Commission Northern Ireland; we have found no
matters that require drawing to your attention.
Mccroarty Mccaffe
& Company Limited
Accountants & Tax Consultants
2 Carli51e Terracc
Derry
B T48 6JX
Page 4

Triax Soclal Economy Projects Ltd
(A company limited by guarantee)
Statement of Financial Activities
for the year ended 31 March 2023
Unrestricted
Funds
Restrlcted
Funds
2023
2022
Income and Expenditure
Incoming Resources
Grants & Sundry Income
41,134
61,048
102,182
101,729
Total Incomlng Rosources
41,134
61,048
102,182
101,729
Resources Exponded
Cliaritable activities
Goveriiaiice costs
14,184
1,068
61,121
75,305
1,068
71,377
1,167
Total Resources Expended
15,252
61,121
76,373
72,544
Net Incoming / (Outgoing) Resources 10.
25,882
(73)
25,809
29,185
Balances brougllt forward l April 2022
46,157
46,174
16,989
Balanccs carried forward 31 March 2023
72,039
(56)
71,983
46,174
Tlie above amounts relate to continuing operations of the company.
Tlie Company has no recognised gains and losses other than those included in tlie results above and therefore
no separate statement of total recognised gains and105ses has been presented. There is no difference between
tlie net inroming rcsources for the year stated above and tlieir historical Cost equivalents.
Page 5

Triax Social Economy Projects Ltd
(A company limited by guarantee)
Balance sheet
as at 31 March 2023
2023
2022
Notes
Fixed assets
Tangible assets
2,097
656
Current assets
Debtors
Cash at bank aiid in hand
15,000
58,994
39,546
33,006
73,994
72,552
Current IIAbllities
Otlicr creditors
Aceruals
1,804
2,304
8,058
18,976
4,108
27,034
Net current assets
69,886
45,518
Total assets Icss current
liabilities
71,983
46,174
Reserves (note )
Unrestricted
Restricted
72,039
(56)
46,157
17
71,983
46,174
Page 6

Triax Social Economy Projects Ltd
(A company limited by guarantee)
(continued)
In approving tliese financial statements as directors of the company we hereby confinn:
The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small
comapnies.
Tlie members have not required the company to obtain an audit in accordance witli section 476 of the
Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act
2006 witli respect to accounting records and preparation of ac¢ount5.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to
the small coinpanies regiine in accordance with Charities SORP (FRSI 02).
Tlie financial statemcnts were approved and authorised for issue by the Board on and signed on its behalf by;
Dlrector
k2oL401
Director
Date .
2bloq12023
Date .
Registratlon number: N1043863
Page 7

Triax Social Economy Projects Ltd
(A company limited by guarantee)
Notes to the accounts
for the year ended 31 March 2023
Accounting pollclos
The charity is a private limited company by guarantee, registered in Northern Ireland and a registered
cliarity in Nortliern Ireland. The address of the registered office is Foyle Valley Railway Museum, I
royle Road, Derry, BT48 6SQ.
Accounting convontion
Tlie significant accounting policies applied in the preparation of these financial statements are set out
below. These policies have been consistently applied to all years presented unless otherwise stated.
Tlie charity constitutes a public benefit entity as defined by FRS102. The financial statements have
been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended
Practice applicable to charities preparing their accounts in ac¢ordan¢e with the Financial Reporting
Stllndard applicable iii the UK and Republic of Ireland Charities SORP 2019 (FRS102) and the
Companies Act 2006.
The financial statements are prepared on a going concern basis under the historical cost convention,
Inodified to included certain items at fair valuc. The financial statements arc presented in sterling
wlii¢h is the functioiial currency of the charity.
1.2. Incoming resources
All incoming resourc¢s are included in tlie stateinent of financial activities when the charity is ¢ntitled to
the income and the ainouiit can be quantified with reasonable accuracy. Tlie following specific policies
are applied to parlicular categories of income:
Voluntary income is received by way of grants, donations and gifts and is included in full in the
statement of financial activities when receivable. Grants where entitlement is not conditional on the
delivery of a specific perforinance by the charity, are recogni5ed when the charity becomes
uncondilionally entitled to the grant.
Donated services and facilities are included at tlie value to the charity where this can be quantified. The
value of scrvices provided by volunteers has not been included.
Gifts donated for resale are included as incoming resources within activities for generating funds when
tliey are sold.
1.3. Resourcos expended
E,xpeiiditure is recognised on an accrual basis as a liability is incUr￿d. Expenditure includes any VAT
which cannot be fully recovered, and is report¢d as part of the expenditure to which it relates.
Charitable expenditure comprises tliose costs incurred by the cl)arity in the delivery of its activities and
services for its beneficiaries. It includes both costs that can be allocated directly to such activities and
those costs of an indir¢ct nature necessary to support them.
Page 8

Triax Social Economy Projects Ltd
(A company limited by guarantee)
Notes to the accounts
for the year ended 31 March 2023
1.4. Tangible fixed ass¢ts and depreclation
Tangible fi.xed assets are stated at cost less depreciation.
Depreciation is provided at rates calculated to write off the cost or valuation less residual value of each
asset over it5 ¢,xpected useful life, a5 follows:
Fixtures & Fittings
150/0 Straight Line
Income
2023
2022
Restrlcted Income
NIHE
DCSDC Grassroots
DCSDC Good Relations
Apex Housing
Frog Pond-Big Lottery
Planet Together
Coinmunity foundatioii-ULTACH
5,054
1,760
1,500
49,740
49,740
3,058
3,196
1,330
61,048
54,330
Unrestrieted Income
Otlier Inconie
Feile Iiicome
4l,134
44,349
3,050
41,134
47,399
Total In¢ome
102,182
101,729
(i)
Restricted Funds
Funds reccived whicli are earmarked by the Funder for specific purposes. Such purposes are within the
overall aims of the organisation.
(11) Unrestricted Funds
Funds which are expendable at the discretion of the company in furtherance of the aims of the charity.
Iii addition funds may be held in order to finance Capital investment and working capital.
Page 9

Triax Social Economy Projects Ltd
(A company limited by guarantee)
Notes to the accounts
for the year ended 31 March 2023
Rcsources Expcnd¢d
Unr¢$tri¢ted
Funds
Restricted
Funds
Total
2023
Total
2022
Management & Admlnlstratlon
DCSDC Grassroots
Planet Together
Ballymagowan project
Projcct cxpenses
DCSDC good relations
Donations
Sundry expenses
ULTACH Project
Accountancy
Frog pond-Big Lottery
Bank charges
Dcpreciation
1,760
3,196
3,196
887
65,049
887
10,257
12,658
52,662
1,483
54,792
1,300
901
1,300
901
922
1,330
1,167
1,068
1,068
3,133
295
544
3,133
295
544
316
246
15,252
61,121
76,373
72,544
Governance Costs
Unrestrlctcd
Funds
Rcstrictcd
Funds
Total
2023
Total
2022
Accountancy Fees
1,068
1,068
1,167
Not (outgoing)/ in¢oming resour¢es for the year
2023
2022
Net (outgoing)/ incoming resources is stated after charging:
Deprecialion and otlier amounts written off tangible fixed assets
Accountaiicy fees
544
1,068
246
1,167
Taxatlon
As a charity, Triax Social Economy Projects Ltd is exempt from tax oli income and gains falling within
sectioii 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent
that these are applied to its chargeable objects. Accordingly, no tax charges have arisen in the cliarity.
Page 10

Triax Social Economy Projects Ltd
(A company limited by guarantee)
Notes to the accounts
for the year ended 31 March 2023
Tangible assets
Equipment
Total
Cost
Al l April 2022
Additions
1,640
1,985
1,640
1,985
At 31 March 2023
3,625
3,625
Depreciation
At l April 2022
Cliarge for the year
984
544
984
544
At 31 March 2023
1,528
1,528
Net book values
At 31 March 2023
2,097
2,097
At 31 March 2022
656
656
Debtors
2023
2022
Grants receivable
15,000
39,546
Credltors: amounts falling due
within one year
2023
2022
Bank loans aiid overdraft
Deferred income & ollier creditors
Accruals
1,804
2,304
8,058
18,976
4,108
27,034
Page 11

Triax Social Economy Projects Ltd
(A company limited by guarantee)
Notes to the accounts
for the year ended 31 March 2023
10.
Movements In Funds
At
At
l April Incoming Outgolng 31 March
2022 resources resources
2023
Restricted funds:
Total restricted funds
Unrnstricted funds:
Total unrestricted funds
17
61,048
(61,121)
(56)
46,157
41,134
(15,252)
72,039
Total funds
46,174
102,182
76,373
71,983
Purposes of Restrlcted Funds
Restricted grants awarded to the charity is provided to cover the core objects as explained in directors
report.
11.
Related Party TrAnsACtlons
There were no related party transactions during the year.
12.
Limited by GuarAntcc
The company 15 limited by guarantee and does not have a share capital.
13. P05t Balance Sheet evcnts
No significant events have taken place since the year end that would result in adjustments to 2023
financial infomiation or inclusion of a note thereto.
Page 12