Company Number:N1637859
Charity Number:NIC107940
Triax Social Economy Proje¢ts Ltd
(A company limited by guarantco)
A¢¢ounts
for thc year ended 31 March 2024

Triax Social Economy Projects Ltd
(A company limited by guarantee)
Contonts
Page
Information
Directors Report
Independent Examiner's Report
Statement of Financial Activities
Balaiice Slieet
Not¢s to tlie accounts
8-12

Triax Social Economy Projects Ltd
(A company limited by guarantee)
Information
Company No:
N1637859
Charity No:
NICI 07940
Directors
Raymond Brown
Sean Mc Monagle
Oonagh Quigg
Eddie Breslin
KarerA Cunningham
LouiseAnn Kilkie
AccountAnts
McGroaty Mccaffety & Company Ltd
Accountants & Tax Consultants
2 Carlisle Terrace
Dery
BT48 6JX
Registered Office
128 Lecky Road
Derry
BT48 6NP
Page I

Triax Social Economy Projects Ltd
(A company limited by guarantee)
Report to the Directors for the year ended 31 March 2024
The directors present tlieir report and the financial statements for the year ended 31 March 2024.
Our Alms and Objeetivos
The Charity is established to promote the benefit of the inhabitants of the Triax Area (which includes 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
a550ciating tlie statutory autliorities, voluntary organisations and inhabitants in a common effort to Combat social
isolation and engage tlie beneficiaries in social, recreational, health, support and educational pursuits in order to
enhance their quality of life and promote a vibrant and liealthy community spirit.
We will achieve tliis by:
l. Advancing arts, culture aiid Iieritage by co-ordination and development of festivals, tours, exliibitions and
otlier evenls and programines and by encouraging community participation in arts and cultural activities.
2. Advancing community development by providing practical support to community and voluntary organisations
in tlie area of benefit so as to increase their efficiency and effectiveness and to encourage such organisations to
co-operate to achieve their aims.
3. Proinoting the protection, enhancement and improveinent of the built environment and tlie provision of public
ainenities.
4. To advance cducatioii and training aiid promotijig the physical, intellectual and social development of young
¢liildren.
5. Advancing health and promoting physical and mental well-being and participation in healthy recreation.
6. Developing the capacity and skills of residents of communities in the area of benefit that suffer social and
economic disadvantage, in such a way that tliey are better able to id¢ntify, and h¢lp m¢et, th¢ir needs and
participat¢ mor¢ fully in society.
7. Providing facilities in the interests of social welfare for r¢¢r¢ation and other leisure time occupations with tlie
object of improving tlie coiiditions of life for tlie said inhabitants.
8. Promoting equality and diversity and religious and racial harmony by encouraging participation in a ran8¢ of
in¢lLlSiVe and accessible 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.
l O.Proinoting co-operation and partnership working between cominunity and voluntary groups, public and
statiitory agencies and bodies and private seclor organisations to help achieve these Objects.
I l.Proinoting and carry out, or assist in promoting and Carrying out research, surveys and investigation and
publish the useful results thereof.
12.Organising or assist in organising meetings, lectures, classes and exhibitions, and publish or assist in
publishing reports¥ periodicals, recordings, books or other documents or information.
Financial Review
The financial perfomiance is summarised in the enclosed accounts
Structure, Governanee and Management
Governin
Document
The organisation is a company with charitable status. The entity was forn]ed on [5th April 2016. Tlie company
was established under Memorandum & Articles of Association which outlined the area of benefit and the objects
of the charitable organisation.
Page 2

Recrliitmeiit and A
ointment of the Board of Directors
The directors of the company are also charity trustees for the purposes of charity law and under the company's
Articles are known as members of tlie Board. Under the requirements of the Memorandum and Articles of
Association, one third of the members ofthe Board must stand for re-election at the Annual General Meeting.
All members of Board give their time voluntarily and r¢ceive no benefits from the charity.
Obli
ations of tlie Board
The main obligation of the Board are to develop and oversee the implementation of policy and to ensure that
structures and management complies with legal requirements and good governance practice. The Board meets
every second Inonth and reports on past developments and future plans are presented.
Risk Mana
ement
Tlie Project Manager provides a monthly report to the Board whicli includes a financial report and an update on
project development.
Responslbllltlcs of tlie Board of Directors
Iii addition to tlie responsibilities outlined above the Board will prepare financial statements for each financial
year which give a fair and true view of the state of affairs of the charitable company as at the balance sheet date
and of its incoming resources and application of resources, including income and expenditure for the financial
year. In preparing those financial stateInents, the Board should follow best practice and:
select suitable accounting policies and apply tliem consistently.
observe tlie metliods and principle5 in the Charities SORP 2019 (FRSI 02).
make judgeinents and estimates that are reasonable and prudent; and prepare financial statements on the going
coiicerii basis unless it is not appropriate to assume that the company will continue on that basis.
state wliether applicable UK Accounting Standards have been followed, subject to any material departures
disclosed and explained in the finaiicial statements.
prepare the financial statemeiits on tlie going concern basis unless it is inapproriate to assume the company will
continue in business..
The directors are responsible for maintaining proper accounting records which disclose with reasonable accuracy
at any time the financial position of the charity and enables tliem 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
hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report is prepared in accordance Nvith the special provisions of part 15 of the Companies Act 2006 relating to
small companies and in accordance ivith SORP 2019 (FRS102).
This report was approved and authorised for issue by the Board on 6 June 2024 and signed on its behalf by.
Director
Dire
Page 3

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 tlie charity for the year ended 3 l March 2024.
Respective responsibilltles of charity committee members and examiner
As the charity's directors you are responsible for the preparation of the accounts in accordance with the
requireinents of the Companies Act 2006. Having satisfied ourselves that the cliarity is not subject to audit
under company 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 down in tlie general Directions given by the Commission under Section 65(9) (b)
of the Charities Act;
state wlietlier particular matters have come to our attention.
Basis of Independent examlner's rnport
We have e,xamined your charity accounts as required under Section 65 of the Charities Act and our
exaInination was carried out in accordance with tlie general directions given by the Charity Commission for
Nortliern Ireland under Section 65 (9)(b) of the Charities Act.
The exainination included a revieiv of the accounting records kept by tlie charity and a comparison of the
accounts presentcd with those records. It also included consideration of any unusual items or disclosures in tlie
accouiits. and seck-iiig explanation from you as cliarity directors conceming any such matters.
Our role is to stat¢ wlietlier any Inaterial matters have com¢ to our attention giving us cause to beli¢ve:
l.Tliat accounting records were not k¢pt in ac¢ordanc¢ with S¢¢tion 386 of the Companies Act 2006.
2.That the accounts do not accord witli those accounting records.
3.That tlie accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006
and witli the metliods and principles of the Charities Statement of Recommended Practice applicable to
cliarities preparing their accouiits in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland.
4.Tliat there is further infomiation needed for a proper understanding of the accounts to be reached.
Independent Examlnerls Statement
We can confimi we are qualified to undertake the examination and are regulated and a member of Chartered
Accountants Ireland, which is one of the listed bodies.
We have completed our examination and have no concerns in respect of the matters 1 4 listed above and, in
coniiection with tlie following Directions of the Charity Commission Northern Ireland; we have found no
Inatters tliat r¢quir¢ drawing to your attention.
McGrourty Mccafferty & Compatty
Accountants & Tax Consultants
2 Carlisle Terrace
Derry
BT48 6JX
Date: 6 June 2024
imited
Page 4

Triax Social Economy Projects Ltd
(A company limited by guarantee)
Statement of Financial Activities
for the year ended 31 iVlarLh 20?4
Unrestricted
Funds
Restrlcted
Funds
2024
2023
Inconie and F.xpendlture
Incoming Resource5
GrÉints & Sundry Income
165 ?84
6.689
171,973
102,18?
Total Incoming Resources
165,284
6,689
171,973
102,18?
Resoureos Expended
CharitablL activities
Governance costs
13? 139
1.310
138,679
1,310
75,305
1.068
Total Resources E.¥pended
133,449
6.540
139.989
76,373
Net Inconiing l (Outgolngl Resources
31,835
149
31,984
25,809
BalLince8 brought torward l April 2023
72,039
(56)
71,983
46,174
Balances carried torward 31 March ?0?4 10.
103,874
93
103,967
71,983
The ubove amounts relatc to cnntiiiuing operations of the compuny.
The company hèis no recosnised gains and losses other thon th08e included in the resulib abovL and therefore
no sepurule slaiemenl of toial recognised suins and losses has been presented. There is no difference between
the net incoming resources for the year staled above and their hi.%torical cost equivalents.
Page 5

Triax Social Economy Projects Ltd
(A company limited by guarantee)
Balance sheet
as at 31 March 2024
2024
2023
Notes
Ffxed assets
Tangible asbets
1,553
2,097
Current assets
Debtors
Cash at bank and in hand
36,412
90,604
15.000
58,994
127.016
73,994
Current Ilabllltles
Otlier creditors
Accruals
?3,498
1.104
I,804
?,304
24.60?
4,108
Net current Assets
102.414
69,886
Total assets less current
103.967
71.983
Reserves
Unreslricled
Restricted
103,874
93
72,039
(56)
iu
103,967
71.983
Pdgye 6

Triax Social Economy Projects Ltd
(A company limited by guarante¢)
(continued)
In approving tliese financial stateinents as directors of the coinpany we hereby confirni:
The coinpany was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small
comapnies.
Tlie members have not required tlie coinpany to obtain an audit in accordance witli section 476 of the
Companies Act 2006.
The direciors ackiiowledge tlieir responsibilities for complying with the requirements of the Companies Act
2006 with respect to accounting records and preparation of accounts.
Tliese accounts have been prepared in accordance with the provisions applicable to small companies subject to
tlie small coinpanies regime in accordance with Charities SORP (FRSI 02).
The financial statements were approved and authorised for issue by the Board on 6 June 2024 and signed on
its bchalf by;
O,Thq
Dlrector
Dlrector
Date . 6 June 2024
Date . 6 June 2024
Registration number: N1043863
Page 7

Triax Social Economy Projects Ltd
(A company limited by guarantee)
Notes to the accounts
for the year ended 31 March 2024
Accounting policies
The charity is a private limited company by guarantee, registered in Nortliern Ireland and a registered
charity in Nortliern Ireland. The address of the registered office is 128 Lecky Road, Dery> BT48 6NP.
Accounting ¢onY¢ntion
The significaiit 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 cliarity constitutes a public benefit entity as defined by FRSI 02. The financial statements have
beeii prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended
Practice applicable to charities preparing their accounts in accordance with tlie Financial Reporting
Standard applicable in 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 value. The financial statement5 are presented in sterling
which is the functional currency of the charity.
Incoming rcsources
All incoiniiig resources are included in the statement of financial activities when tlie charity is entitled to
tlie income and tlie amount can be quantified ivith re&Lsonable accuracy. The following specific policies
are appli¢d to parti¢ular ¢ategori¢s of in¢oine:
Voluntary income is received by way of grants, donations and gifts and is included in full in the
stateinei)t of fiiiancial activities when receivable. Grants where entitlement is not conditional on tlie
delivery of a specific perfonnance by the charity, are recognised when the charity becomes
uncoiiditioiially entitled to the grant.
Donated services and facilities are included at tlie value to the cliarity wliere this can be quantified. The
value of services provlded by volunteers has not been included.
Gifts donated for resale are included as incoming resources witliin activities for generating funds when
tliey are sold.
1.3. Re¥ourees expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT
which cannot be fully recovered, and is reported as part of the expenditure to whicli it relates.
Cliaritable expenditure coinprises those costs incurred by the charity 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 indirect nature necessary to support them.
1.4. Tangible fixed assets and depreciation
Tangible fixed asset5 are stated at cost less depreciation.
Depreciation is provided at rates calculated to write off tlie cost or valuation less residual value of each
asset over its expected useful life, as follows:
Equipment
150/0 Straight Line
Page 8

Triax Social Economy Projects Ltd
(A company limited by guarantee)
Notes to the accounts
for th¢ year ended 31 March 2024
Income
2024
2023
Rcstrieted Income
Big Lottery - Awards for All
NIHE
Frog Pond-Big Lottery
Planet Together
Halif&x
385
5,249
5,054
3,058
3,196
1,055
6,689
11,308
Unrestrlcted Income
Oilier Iiicome
Social Economy Income
Apex Housing
76,332
26,212
71,740
41,134
49,740
174,284
90,874
Total Income
180,973
102,182
(i)
Restricted Funds
Funds rec¢iv¢d which are earniarked by the Fuiider for specific purposes. Such purposes are within the
overall aims of the orgaiiisation.
(li) Unrestricted Funds
Funds whicli are expendable at the discretion of the company in furtherance of the aims of the charity.
In addition funds may be lield in order to finance capital investment ai)d working capital.
Page 9

Triax Social Economy Projects Ltd
(A company limited by guarantee)
Notes to the accounts
for the year ended 31 March 2024
Resources Exponded
Unrestricted
Funds
Restrlctod
Funds
Total
2024
Total
2023
Management & Administration
Halifax project
Big Lottery-Awards for All
Social ecoiiomy expenses
Ballyinagowan project
Project expenses
Planet Togetlier
Donations
Suiidry expeiises
NIHC Project
Accountaiicy
Frog pond-Big Lottery
Bank charges
Project expenses unrestricted
Depreciation
1,055
385
1,055
385
19,615
19,615
887
54,792
3,196
1,300
901
110,893
110,893
400
400
5,100
5,100
1,310
1,310
1,068
3,133
295
10,257
544
687
687
544
544
133,449
6,540
139,989
76,373
Governance Costs
Unrestrlctcd
Funds
Restricted
Funds
Total
2024
Total
2023
Accountancy Fees
1,310
1,310
1,068
Net (outgoing)l incomlng resourcos for the year
2024
2023
Net (outgoing)l incoining resources is stated after charging:
DepreciRtion and other amounts written off tangible fixed assets
Accountancy fees
544
1,310
544
1,068
Taxation
As a cliarity, Triax Social Economy Projects Ltd is exempt from tax on income and gains falling within
section 505 of tlie Taxes Act 1988 or s256 of the T￿atIOn of Chargeable Gains Act 1992 to the extent
that these are applied to its chargeable objects. Accordingly, no tax charges have arisen in the charity.
Page 10

Triax Social Economy Projects Ltd
(A company limited by guarantee)
Notes to the accounts
for th¢ year ended 31 March 2024
Tangible assets
Equlpment
Total
Cost
At l April 2023
3,625
3,625
At 31 March 2024
3,625
3,625
Depreclatlon
At l April 2023
Charge for the year
1,528
544
1,528
544
At 31 March 2024
2,072
2,072
Net book valucs
At 31 Marcli 2024
1,553
,553
At 31 March 2023
2,097
2,097
Debtors
2024
2023
Grants receivable
45,412
15,000
Creditors: amounts falling due
within one year
2024
2023
Bank loans and overdraft
Deferred iiicome & other creditors
Accruals
11,838
11,660
1,104
1,804
2,304
24,602
4,108
Page 11

Triax Social Economy Projects Ltd
(A company limited by guarantee)
Notes to the accounts
for the year ended 31 March 2024
10.
Movements in Funds
At
At
l April Incomlng Outgolng 31 March
2023 resources resourccs
2024
Restricted funds:
Total restricted funds
Unrestrlcted funds:
Total uiirestricted funds
(56)
6,689
(6,540)
93
72,039
174,284 (133,449)
112,874
Total funds
71,983
180,973 (139,989)
I 12,967
Purposes of Restricted Funds
Restricted grants awarded to the charity is provided to cover the Core objects as explained in directors
report.
11.
Related Party TransACtions
There were no related party transactions during the year.
12.
Limited by Guaranteo
Tlie company is limited by guarantee and does not have a share capital.
13. Post Balance Sheet events
No significant events have taken place since the year end that would result in adjustments to 2024
financial infonnation or inclusion of a note tliereto.
Page 12