Company Number:N1637859 Charity Number:NIC107940 Triax Social Economy Projects Ltd (A company Ilmited by guarantee) Accounts for the year ended 31 March 2025
Triax Social Economy Projects Ltd (A company limited by guarantee) Contents Poge Infonnation Directors Report Independent Examiner's Report Staiement of Financial Activities Balance Sheet No¢es lo che accounts 8-12
Triax Social Economy Projects Ltd (A company limited by guarantee) Inforniation Company No: N1637859 Charity No: NIC107940 Directors Raymond Brown Sean Mc Monagle Oonagh Quig. Eddie Breslin Karen Cunningham LouiseAnn Kilk'ie Anthony Brown Ann Marie Gallagher John Lynch James McIvor Catherine Pollock Appointed 22108124 Appointed 22108124 Appointed 30109124 Appointed 22108124 Appointed 22108124 Secrethry Oonagh Quigg Appointed 30109124 Accountants McGroarty Mccafferty & Compony Ltd Accountants & Tax Consultants ? Carlisle Terrace Derry BT48 6JX Reglstered Oftlce 128 Lecky Road Derry BT48 6NP Page I
Triax Social Economy Projects Ltd (A company limited by guarantee) Report to ¢h¢ Directors for the year ended 31 March 2025 The directors present Iheir report and the financial stat¢m¢nts for the year end¢d 31 March 2025. Our Alms and Objectives The Charity is e5tabli&hed to promote the benefLt of the inhabitants of the Tri Area (which includes Creggan, Bishop Street, Fountain, Bogside and Brandell) and the immediate environs (rhe "area of benefil") without distinction of sex, sexual orientation, ase, race, ethnicity, disability or political or relxgious opinions by associating the statutory authorities, voluntary organisations and inhabilanis in a common effort to combot social isolation und engage the beneficiarie5 in social, recreational. health, 5UPPOrt and educational pursuits in order to enhance their quality of life and promote a vibrant and healthy community spirit. We will achieve this by: l. Advancing art5, culture and heritage by co-ordination and dev¢loprnent of festivals, tours, exhibitions and other events and programmes and by encouraging community participution in arts and cultural activities. 2. Advancing community development by providing practical 8UPPOrt to community and voluntary orgunisations in the area of benefit so as to increase their efficiency und effectiveness and to encourage such organisations to co-operate to achicve their aims. 3. Promoting the protection, enhancement and improvement of the built environmeni ond the provision of public amenities. 4. To advance education and training and promoting the physical, intellectual and sociul development of young children. 5. Advancing healih and promoting physical and mental well-being and participacion in healthy recreation. 6. Developing the capacity and skills of sidents of ¢ommunities in the orea of benefit that suffer social and economic disadvantage. in such a way that they are better able to identify, ond help meet, cheir needs and participat¢ mor¢ fully in society. 7. Providing facilities in th¢ intere&ts of social welfare for recreation and other leisure time occupations with the object of improving the conditions of life for the said inhabitants, 8. Promoting equatity and diversity and religious and racial hmony by encournging participation in a range of inclusive and accessible progrnmmes which strive to bring together all section5 of the community. 9. Promoting social enterprise and such other charitable purposes as may from time lo time be determined, 10.Promoting co-operation and partnership working between community and voluntary groups, public and statutory agencies and bodies and private Sector organisutions to help achieve these Objects. I l.PromoUng and carry out, or a8SlSt in promoting and carrying out research, surveys and inve.8tigation and publish the useful results thereof. 12.Organising or assist in organising rneeting5. lectures, classes and exhibitions, and publish or assist in publishing reports. periodicals, recordings, books or oiher documents or infonnation. Financial Revlew The financial perforniance is summarised in the enclosed accounts Structure, Covernancc und Management Governin(T Document The organisation is a company with charitable status. The entity was forn]ed on 15th April 2016. The company was established under Memorandum & Articles of Association which outlined the area of benefit and the objects of the chariiable orLYanisation. Page 2
Recruitment and A ointment of the Board of Directors The directors of the company are also charity trustees for the purposes of ChltY law and under the company's Articles are known as members of the Board. Under the requirements of the Men]orandum and Articles of Association, one third of the members of the Board must stand for re-election at the Annual General Meeiing. All members of Board give their time voluntarily and receive no benefits from the charity. Obli atio 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 prnctice. The Board meets every second month and reports on past developments and future plans are presented. Mana The Project Manager provides a monthly report to the Board which includes a financial report and an update on project development. Responsibilitles of the Board of Directors In addition lo the responsibilities outlined above Lhe Board will prepure financiul siatements for each financial year which give a fair and true view of the State of affairs of the charitable cotnpany as at the bELlance sheet date and of its incoming resources and application of resource5. including tncome and expenditure for the tinancial year. In preparing those financial statements, the Board should follow besi practice and. select buitable accounting policies and apply them consistently. observ¢ the methods and principles in the Charities SORP ?019 (FRS102). make judgements and estimates that are reasonable and prudent; and prepare financial slatcments on the going concern basis unlebs It is not appropriate to assume Ihut rhe company will continue on thai basis. state whether applicable UK Accounting Standards have been followed, subjeci lo any material departures dis¢lo8ed and explained in the financial 8tatements. prepare the tinancial statements on the going concern busis unless it is inapproriate to ussume the company will continue in business.. The directory are responsible for maintaining proper accounting record5 which disclose with reasonable uccuracy at any time the financial position of the charity and enables them to ensure thac the financial Statements comply with the Companies Act ?006. The directors are also responsible for safeguarding the assets of the charity and hence for taking reasonable bteps for the prevention and detection of fraud and other irregularities. This report 15 prepared in accordance with the special provisions of part 15 of the Companies Act ?006 relating to small companies and in accordance with SORP 2019 (FRS102). This rep by; rt wa£ approved d auihorised for issue ytheBoardon 11 S tember 2025 and sioned on its behalf Director Director Page 3
Triax Social Economy Projects Ltd (A company limited by guarantee) Independent Examiner's Report on the unaudited financial statem¢nts to the directors of Destined Ltd We report on the accounts of the charity for the year ended 31 March 2025. Respectlve responsibilities of charfity committee members and examiner As the chariiy's directors you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied ourselves that the charity 15 not subject to audit under company low, and is eligible for independent examination, it is our responsibility to: examine the accounts under Section 65 of the Charities Act. tollow the procedures laid down in the general Directions given by the Commission under Section 65(9) (b) of the Churities Act. slate whether particular matter5 have come to our attention. Basis of Independent examiner's report We have examined your chariiy accounts as required under Section 65 of the Charities Act and our examination was carricd out in accordance wilh the general directions given by the Charity 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 and a comptirison of the accounts presented with those records. It a150 included consideration of Jny unusual items or dibclosures in the occounts, and seeking explanation from you as charity director5 concerning ony such m(itters. Our role is Lo state whether uny material matters hiive come lo our attention giving us cause to beli$v¢: l.That accounting records were not kept in uc¢ordance wilh Scction 386 of the Companies Act 2006. 2.That the accounts do not accord with those accounting records. 3.That the accounts do not comply with the accounting requirements of se¢tion 396 of the Companies Act 2006 and with che methods and principles of the chlties Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of treland. 4.That there is further infonnation needed for a proper understanding OF the accounts to be reached. Independent Examiner's Statement We can ¢onfirn] we are qualified to undertake the examination and ure regulated and a member of Chartered Accounlunts Treland, 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 und, in connection with the following Directions of the Charity Commission Northern Ireland; we have found no matters that require drawing to your attention. L ccroarty Mc afferty Company Ltd Accountants & Tax Consultants 2 Carlisle Terrace Derry BT48 6JX Date: 11 September 2025 Page 4
Triax Social Economy Projects Ltd (A company limited by guarantee) Statement of Flnancial Actlvities for the year ended 31 March 2025 Unrestricted Funds Restrlcted Funds 2025 2024 Income and Expenditure Incoming Resources Grants & Sundry Income 138,187 35,408 173,595 171.973 Total Incomlng Resourc 138,187 35,408 173,595 l7l.973 Resource5 Expended Charitable activities Governance costs 132.168 1,272 25,308 157,476 1,272 138,679 1,310 Total Resources Expended 133,440 25,308 158,748 139,989 Net Incoming l (Outgoing) Resources 4,747 10,100 14.847 31,984 Balances brought forward l April ?024 103,874 93 103,967 71.983 Balances carried forward 3 l March 2025 10. 108,621 LO,193 118.814 103,967 The above amounts relate to continuing operations of the company. The company has no recognised guins and losses other than those included in the results above und therefore no separate statement of total recognised gains and losses has been presented. There is no difference between the net incoming resources for the year stated above and their historical cost equivalents. Page i
Triax Social Economy Projects Ltd (A company limited by guarantee) Balance sheet as at 31 March 2025 2025 2024 Notes Flxed assets Tangible assets 43,009 1,553 Current assets Deblors Cash at bank and in hond 51,261 54,033 36,412 90,604 105,294 127,016 Current IiAbilities Other creditors Accruals 23,498 1.104 29,489 29,489 24.602 Net current ossets 75.805 I02,414 Total assets less current liabilities 118.814 103,967 Reserves Unrestricted Restricted 108.621 10.193 L03,874 93 10 118,814 103.967 Page 6
Triax Social Economy Projects Ltd (A company limited by guarantee) (continued) In approving these financial statements as directors of th¢ company we hereby confirn): The company was eniitled lo exemption from audit under s477 of the Companies Act 2006 relacing co small comapnies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilitie.s for complying with the requirements of the Companies Act 2006 with respect to accounting records and preparation of accounts. These accounts have been prepared in uccordance with the provisions applicable to small companies subject 10 the small companies regime in accordance with Charities SORP (FRS102). The financi signed o statements were approved and authorised for issue by the Board on I I September 2025 and s behalf by; Dlrector Dlrector Date . 11 September 2025 Date . 11 September 2025 Registratlon number: N1043863 Page 7
Triax Social Economy Projects Ltd (A company limited by guarantee) Not£s to the accounts ror the year ended 31 March 2025 Accounting policies The charity is a private limited company by guarantee. resi5tered in Northern treland and a registered charity in Northern Irelund. The address of the registered office is 128 Lecky Road, Derry, B T48 6NP. 1.1. Accounting convention The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to aLI years presented unless otherwise stated. The charity constitutes a public benefit entity as defined by FRS1O2. The financial statements have been prepared in accordance with Accounting and Reporting by Churities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland Charities SORP 20I9 (FRS102) and the Companies Act 2006. The financial statements are prtpgwed on u going concern basis under the historical cost convention. modifjed to included certain item5 ac fair value. The financial slutements are presented in sterling which is the functionul currency of the charity. 1.2. Incoming resources All incoming resources are included in the stotement of financial activities when the chari(y is entitled to the income and the amount can be quantified with reasonable uccuracy. The following specific policies are applicd ¢0 particular categories of income: Voluntary income is received by way of .tyrants, donations and &Tifts and is included in full in the %tatement of financiul activities when receivable. Grants where entitlement is not condilional on che delivery of a specific perfomian¢¢ by the charity, ure r¢cognised when the charity becomes unconditionally entitled to the grant. Donated services and tacilities are included ui ch¢ volue to the charity where this can be quantified. The value of service5 provided by volunteers has not been included. Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold. 1.3. Resources expended Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and i.q reported (15 part ot the expenditure to wlLich it relates. Choritable expendiLure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocaied directly to such activities and those costs of an indirect nature necessary to support them. Page 8
Triax Social Economy Projects Ltd {A company limited by guarantee) Notes to the accounts for the y¢ar ended 31 March 2025 1.4. Tanglble fixed assets and depreclation Tangible fixed assets are stated at cost less depreciation. Depreciation 15 provided ai rates calculated to write off the cost or valuation less residual value of each asset over its expected useful life, as follows: Equipment Motor vehicles 1510 Straight Line 15% Strnight Line Income 2025 2024 Restricted Inc Big Lotiery - Awards for All NIHE Triax Con5en5ual Halifax me 9,315 18,748 5.000 2.345 385 5,249 1,055 35,408 6.689 nrestrlcted Income Other Income So¢ial Economy Income Apex Housing 32,042 48,226 57,919 67,332 26,21? 71.740 138,187 165.284 Total Income 173,595 171,973 Restricted Funds Fund8 received which are eannorked by the Funder for specitic purpose.s. 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 off the aims of the charity. In addttxon 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 ror the year ended 31 March 2025 Resources Expended Unrestrlcted Funds Restricted Funds Totsl 2025 Total 2024 Monagement & Administratlon Halif project Big Lottery-Awards for ALL Social economy expenses Project expenses Donations Triax Consensual NIHE Project Bunk charges Depreciation 2,333 9,830 1,055 385 19,615 110,893 400 9.830 38,086 91,599 1,000 4,993 8.152 939 544 38,086 91,599 1,000 4,993 8,152 5,100 687 544 939 544 132,168 ?5,308 157.476 138.679 Governance Costs Unrestrlcted Funds Restricted Funds Tothl 2025 Tothl 2024 Accountancy Fees 1,272 1,272 1,310 Net (outgoin&)l incoming resources for tlie year 2025 2024 Net (outgoins)l incoming resources is stated after charging: Depreciation and other amounts written off tangible fixed assetb Accountancy fees 544 1,272 544 L,3lO Taxntion As a Charity, TriLx Social Economy Projects Lid is exempt from lax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Tuxaiion ot Chargeable Gains Act 1992 to the extent that these are upplied to its chargeable objects. AccordAngly, no tax charges have arisen in the charity. Page 10
Triax Social Economy Projects Ltd (A company limited by guarantee) Notes to the accounts ror the year ended 31 March 2025 Tanglble assets Motor vehicles Equlpment TotAI Cost At l April 2024 Additions 3,625 17,000 3,625 42.000 25,000 At 3 L March 2025 20,625 25,000 45.625 Dopreciation At l April 2024 Charge for the year 2,072 544 2,072 544 At 31 March 2025 2,616 2,616 Net book values At 31 March 2025 18,009 25,000 43.009 At 31 March 2024 ,553 1.553 Debtors 2025 2024 Grants receivable Other debtors 41,261 10,000 36.41? 36,412 Creditors: amounts falllng due wlthln one year 2025 2024 Bank loans and overdraft Deferred income & other creditors Accruals 23,498 1,104 ?9,489 29,489 24,602 Page 11
Triax Social Economy Projects Ltd (A company limited by guarantee) Notes to the accounts ror the year ended 31 March 2025 10. Movements in Funds At At l April Incoming Outgolng 31 March 2024 resources resources 2025 Restricted funds: Total restricted funds Unrutricted funds: Total unrestricted funds 93 35,408 (25,308) 10,193 103,874 138,187 {L33,440) 108,621 Total fund5 103,967 173.595 (158,748) 118,814 Purposes of Restricted Funds Restricted 8rdnts awarded to the charity is provided to cover the core objects a5 explained in director5 report. ii. Related Party Transactlons There were no related party transactions during the yeur, 12. Limited by Guarantee The company is limited by guarantee and does not have a share capital. 13. Post Balance Sheet events No significant events huve taken place since the year end that would result in adjustments to 2025 financial information or inclusion of a note thereto. Page 12