Company registration number" N1648631 Charity registration number.. N11082e2 MADE IN MOURNE LTD TRUSTEES. REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2025
Madg in Mourno Ltd Contents Page Tru$leÈs' Report Independent Examinerfs Report statement of Financial Actwities (including Income and Expenditure Account) Bal8nce Sheet Notes to the Financial Slaternents 12 The following pages do not form part of the slatulory account8.. Detsiled Statement of Financial Activities linduding Income and Expenditure Account)
Madg in Mourne Ltd Company No. N1648631 Trustees. Report For The Year Ended 30 March 2025 The Iruslees present their report and the fin8naal statements for the year ended 30 March 2025. Objectives and Activities Alms and Obl8CtIv08 2025 marked a period of releclion, consolidation, and renewed purpose for Made in Mourne IMIMI. Following the dosure of our retail and co- working space in September 2024. the organisation entered a necessary strategic transition. While the absen of a physical base presented challenges, It also prompted us lo revisit our ¢or8 mission, reconnect more deeply with community stakeholders, and r8defin8 the unique value Mim brings to the Moume region. Our focus this year has centred on re-èstablishing Mad& in Mourne as a connector- linking business with community, Creativity wth opportunity. and people with the support neorkS they need to flourish. Significant Activities Reaffirniing Our Mi$5ion Through &xten8iv8 engag8m&ntwilh local organisalions, community groups, busin&ss8s, and past p8rticipant8, It b8cam& clear that MIM continues to be valued for its ability to bring people together. Key themes consistently emerged.. There is 8 strong need for g neutral. trusted org8nisation that bridges the gap between business communty. Lotsl makers and ÈntpneUrS continue to seek Support, especially p05t-pandemic, in areas such as digital skills, busin dÈvelopment, and market access. Young people in the region benefrt from spaces and programme5 that build confidence. crealivily. and enterprise mindsets. These insights have rea1[Med our tnission "To Inspire, enable. and elevste individusls and businesses in the Mourne community by connecting them lo ski118, OPPOrtunitie8, and each othev,. Programm8 Development In 2025 Although without a physical space, we have invested significant effort into designing and planning a new suite of progr8rllmes that can be delivered flexibly across the Mourne region. Our Intention is to create a 8UStainable model that delivers social and economic value for all ages and stages. mm Thi Community Enterprise Workshops- A series (Jesigned lo build wnfidence. business skills. an(J creative abilities among local entrepreneurs and young people. Youth Innovation & Skills Initiative- A pilot concept focused on developing leadership, creativity, and entrepreneurial thinking in young people within the Mournes. Business-communily Connector Ev&nls- Small-scale. high-lmpact events Intended to bring busin&sses, community leaders, and local resident5 together lo share ide8s, challenges. and opportunities. These proyramm&s wer8 shaped through direct consultation with community partners, demonstrating our commitment to building iniliatniès wlh the community. notjusl for them. Funding and Support Throughout 2025. we actively sought funding to launch and deliver the above programmes. While we have not yet secured the required support. we have". Submitted n7ultiple funding epplications. Developed new partnerships with comtnunily organisations, schools. and regional netWOTks. Slrenglhened our governance, delivery planning, and long-term strategic darity. Refined a sustainable business model designed lo maximise comrnunily benefit while reduang financiql risk. The work undertaken this year positions Made in Mourne strongly for future funding success and long-term resilience. Our Evolving Role in the Moume Community Without a physicsl building, Mim has evolved into a more sgile, outward-faang organisation. Our unique value now lies in.. Connecting businesses lo cornmunity needs. Supporting local tnakers and aspiring entrepreneurs. Facilitating collsboralions that generate social and economic growLh. Providing a voice for local enleTpfi5e 11 community-focused conversations. This connector role is not only n88ded4t is increasingly &8s8ntial for an aa balancing economic challenges. youth out-migration, and post- pandemic shrfts in the local economy. Conclusion .CONTINUED Page 1
Madg in Mourne Ltd Trustees. Report Icontinuedl For The Year Ended 30 March 2025 Significant Activities- continu8d Though 2025 was 8 year of rebuilding and strategi¢ rec81ibralion. it has laid the foundations for a renewed Made in moUrne that is more Cotnmunity-centred, collaborative. and resilient. Our dedication to the people and businesses of the Mourne region remains Steadfast. and we are confident that the work undertaken this year will pave the way for a strengthened and suslsinable future. We extend our sincere thanks lo everyone who continues to support and believe in our vision. Publlc 8enoTht Made in Moume IMIMI exists to support entrepreneurship. creativity, 8nd economic resilience within the rural coastal Mourne region. Our charitable PUTpose is to advance cornmunty development by providing knowledge, support, and opportunities for local entrepreneur5. creatives. and community group8-particularly In an area affected by limited economic prospects, rural Isolation, and h18torically low levels of enterprise actiwty. Although MIM'S physical prÈmise8 clo$ed on 1 September 2024 due to rising operational costs and Insufficient funding, the organisation continues to deliver public benefit through programmes. partnerships. community initiatives. and tsrgeled support activities that strengthen the local ecosystem for small businesses, creatives, and the wider comrnunity. Publlc Benofit D811¥8r8d 1 Supporhng Local Entrepreneurs and Small Bu5inesse5 Mim provides guidance. training, and mentoring lo Individuals and &arly-8tag8 businesses across th8 Mourne region. This includes helping entrepreneurs build confidence. acquire new skills. and improve their capaaly lo start and sustsin vi8ble enterprises. These activities promote econotnic developtnent. resilience, and job creation ¥vilhin an economically disadvantaged rural COTnmunily. 2. Enhancing Creative and Cultural Pariicipalion Mim continue5 to charnpion local rnakers. artists, and creative practitioner5 by promoting their work through collaboration5. community engag&ment inili8tiv8$, and regional showcasing opportunili&s. This supports profe8810nal d8velopm&nl, èncourages creativ& expression, and enhances public access lo the arts. 3. Strengthening Comtnunily Cohesion Mim plays an important role In fostering positive community engagement by offering neutral, inclusive environmenls-bolh physical Ipreviouslyl and nowthrough outreach programrnes and partnerships-where indiwduals and group5 from across the community can partiapate. This conlribule8 to improvéd w&ll-b&ing, social inclu810n, and 8har8d community Idanlty within a historically divided ar&a. 4 Providing Opportunities for Learning and Skills Development Through workshops, mentoring, enterprise support. and creative activities delivered In various community venues and online, Mim enables the public to access training and le8ming opportunities that may otherwise be unavailable locally. These activities build confidence, c8pabilty. and employability- Evidence of Public Benefit Over recent ye8rs, MIM has SUPPOrted more than 100 entrepreneurs and earty-slage businesses through training, mentoring. and nelworking . Approximately 7(80 local makers hav& ben8fitt8d finically from MIM'S plattorm, r&tsil support, and promotional activiti&s. MibA has delwered numerous workshops. nelworking events, and creatwe programmes that engaged members of the public. community groups. and young people. Coll8boralive projects such as the Kilkeel Walking Food Tour hsve promoted local businesses and showcased the Mourne area to both re5ident5 and wsitors. MIM has provided an Important space-bolh historically through the Hub and now through community partn&rship8- for youth 8ngag8m8nt, cross-comrnunily participation. and social cohesion. Beneficiaries The direct bènÈficiariÈ8 Include. Lwal entrepreneurs, start-ups. and small busine owners. Creative practitioners. makers, and artists. Community members seekin9 le8ming, d&velopment, and engagement opportunities. Young people and cross-community gTOUPS in the Moume area. Indirect ben8fiuari&s include the wid&r public, local famili8$, and the Mourne region as a whole, through strength&ned communty Identity, increased economic aclivily. and enhance(I cultural participation. Private Benefit Any private benefits arising from Mim's activities are inadentsl and necessary lo achieving the organisalion's charitable purposes. The Trustees believe there 15 no un(lue private benefit and no harm arising from Mim's work. The Iruslees confirrn that they have complied with the requirements of Section 17 Of the Charities Act 201110 have due regard lo the Charity Commission's guidance on public benefit. Page 2
Madg in Mourno Ltd Trustees. Report (continued} For The Year Ended 30 March 2025 Ref8r8nc8 and Administrative D8tails Trust985 Mi$5 Naotni Sosa Miss Susan Reains Miss Jenna Stevenson Chat1ty Number N1108262 Company Number N1648631 Prfnclpal Addre88 25 Mission Road Ballymattin Newry Down BT34 4PR Independent Exarniner Peter Bond FCA Page 3
Madg in Mourno Ltd Trustees. Report (continued} For The Year Ended 30 March 2025 Small Company Rules This report has been prepared in accordance with the special provisions relating to companies subject to the small cornpanie8 regime within Part 15 of thè CotnpaniÈ8 Act 2006. The Iruslees. report was approved by the board of trustees and sgned on its behalf by.. Mi88 Jenna Stev8n$on Truste& 1211212025 Page 4
Madg in Mourno Ltd Independent Examiner's Report to the Trustees of Made In Mourne Ltd For The Year Ended 30 March 2025 I r&port to the charty tru8te&8 on my examination of the account8 ofthe Company for the year &nded 30 Mard) 2Q25. Responsibilities and Basis of R8POrt AS the charity trustees of the Company land also its directors for the purposes of company lawl. you are responsble forthe preparation of the accounts in accord8nce with the requirements of the Companies Act 20061"Ihe 2006 Acl'l. Having Satisfied rnyself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report In respect of tny examination of your charity s accounts as carried out under section 145 of the Charities Act 2011 I'lhe 2011 Act'l. In carrying out my examination I have followed the Dir6ction8 9iven by th8 Charity Commission under section 145151 Ibl of the 2011 Act Independent ExamIn08 Statement- matter ot concern Identthed I have completed my examination. We draw attention to Note 13 of the financial Statements. which disc105es outstanding loans and borrowings of £33.456 due for repayrnent within the next 12 month8, and lo Note 14, which furth&r dètails additional borrowings of £25,934. The charity's ability lo meet these repayment obligations is dependent upon continued financial 8UPPOrt from lenders, locsl Council and other stakeholder, the outcome of whith is uncertain. Th8se conditions indieale the &xistence of a material uncertainly which may cast signrficanl doubt on the charity's ability to continue 88 a going concem. The finanual stslements have been prepared on a going concern basis and do not indude any adjustments that would resutt if the charity were unable to continue in operational existence. I confirrn that no other matters have come to my attention in connection with the examination gDiing me reasonable cause to believe that in any material resp8cL' 1. accounting records were not kept In respect of the Company as required by section 38e of the 2006 Act., or 2. the accounts do not accord with those records, or the a¢¢ounl$ do not comply with the accounting rÈquir&ments of section 396 of the 2006 Act other than any requirement that th& accounts give a'lrue and fair view, which is not 8 matter considered as part of an independent examination., or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recotnmended Practice for accounting and reporiing by ch8ri1ies applic8ble lo charities preparing their accounts in 8ttordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I confirtn that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts lo be reached. Peter Bond FCA 2510212026 Page 5
Madg in Mourno Ltd Statement of Flnanclal Activities (including Income and Expendlture Account) For The Year Ended 30 March 2025 202S 2024 Unrestricted Unrestricted funds funds Notes INCOME AND ENDOWMENTS FROM.. other tr8ding activities 519 EXPENDITURE ON.. Charil8bl8 8Ctiviti8s'. Charitable Exp8nditure Support Cost8 Finance Cost 11261 15361 12,0691 12501 13.9051 Governan Charitable Asset 16,8861 NET EXPENDITURE 16,3671 NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS.. 16,3e7I 143,0231 Total funds brought forward 143,0231 TOTAL FUNDS CARRIED FORWARD 18 149,3901 143,0231 The note5 on pages 8 to 12 form part of these financial statements. Page 6
Madg in Mourno Ltd Balance Sheet As At 30 March 2025 2025 2024 Unrestricted RestActÈd Total funds Totsi funds funds funds Note5 FIXED ASSETS Tangibl& A888ts 10 3,5 3,5 CURRENT ASSETS stock8 11 10,000 10,000 10,000 536 Debtors 12 10,000 3,200 10,000 10,536 Creditor5'. Amounts Falling Du8 Within Ono Year 13 133.4561 13,2001 133.4561 131.5301 NET CURRENT ASSETS ILIABILITIESI 123,4561 123,4581 120,9941 TOTAL ASSETS LESS CURRENT LIABILITIES 123.4561 123.4561 117.0891 Creditor5.' Amounts Falling Du8 After More Than One Year 14 125.9341 125.9341 125,9341 NET LIABILITIES 149.3901 149,3901 143,0231 FUNDS OF THE CHARITY Unreslricled Funds 149.3901 143.0231 TOTAL FUNDS 16 149.3901 143.0231 For the year ending 30 March 2D25 the charitable cornpany was entitled to exemption from audit under Section 477 of the Companies Act 2008 relating to small compani88. The rnembers h8ve not required Ihe charitsble company to obtain 8n audit in accordance with sectiw 476 of the Companies Act 2006. The trustees acknOedge their responsibilitie5 for Cornying with the requirements of the Act wilh respect lo accounting record5 and the pr¶lion of accounts. Th88e account8 have b8en prepar8d in accordance with the prov1810ns applicable lo companies subi8Ct lo the small companies regim8. On behalf of the board Miss Jenna Stevenson Trustee 251021202e The nol&s on pag&s 8 to 12 form part of these financial stal&ments. Page 7
Madg in Mourne Ltd Notes to the Financial Statements For The Year Ended 30 March 2025 1. G•noral Infomiatlon Made in Moume Ltd 15 a company lirllited by guarantee. incorporated in Northem Ireland, registered number Nl648631 and registered charity nutnber N1108282. The regISted office is. 2. Accountlng Pollcles 2.1. Basls of Preparatlon of Flnancl81 Statement8 The finanoal statements have been prepared in accordance with the Charities SORP IFRS 1021"Acwunting and Reporbng by Charities. SlatemÈnt of Recommended Practice applicable lo charities preparing their account8 In accordance with the Financial Reporting Stsndard applicable In the UK and Republic of Irel8nd IFRS 1021 leffeclive 1 January 20191" Financial Reporting Stsndard 102'The Financial Reporting Standaid applicable in the UK and Republic of Ireland and the Companies Act 2006. The charitable cotnpany is a Public Benefit Entity as defined by FRS 102. 2.2. Incoming Ro$ource8 Incoming resources are recognised when the charty has enlillement lo the income, receipt is probable. and the amount can be measured reliably. Grants Grant income Is wcogni88d wh8n the charity has an unconditional 8nlill&ment to the funds, It is probable that the incom& Mll be received. and the amount can be rneasured reliably. Where a grant is subiecl to specific performan(E-related conditions, income Is recognised only when Ihi>se conditions are tneL Until Such time, amounts received are recorded as deferred income or a8 a credrtor due to the funder. Where grant income received during the year is subsequently identified as not meeting the conditions for entitlement and musl be repaid, the amount is not recognised as income. Instead. it is recognised as a liability at the balance sheet dale and will be refunded to the funder in the following fin8naal year. Restricted grants are credited lo restricted fund8', un$t¢ted grants are credited to unrestricted funds. Income frotn the sale of bought-in goods is recognised at the point of sale. The cost of goDds purchased for resale is recognised as expenditure in the same period as the related income. 2.3. Tangibl8 Fixed Ass8ts and Depreciation Tangible fixed assets are measured al cost less accumulated depreatIOn and any accumulated impairment1055es Depreciation 15 provided al rates calculated lo writè oft the cost of the fixed assets, less their eslimaled re8idu81 value, over thèir expected u8&ful live8 on the following bases". Freehold Plant & Machinery Fixture5 & Fittings 20% 25° 20 2.4. Stocks and Work in Progross Stocks and wotk in progres5 are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow- moving stocks. Cost is d8lemin8d using the first-in, first-out method. Cost Indud88 all direct costs and an appropriate proportion of fixed and variable overheads. Work In progress is refiect8d in th& accounts on a contract by contrad basis by recording turnover and r&l8ted costs as contract activity progresses. At the end of each reporting perio(l stocks are assessed for impairment. If an item of stock is impaired. the identified stock is reduced to its selling price less costs to cotnplete and sell and an impairtnent charge is recognised in the statetnent of financial activities. Where a reversal of the impairment is required the impairment Charge is reversed, up to the original impaimenl1088, and is recognised as a credit in the statement of financial actiwties. 2.5. Ca$h and Ca$h Equivalents Cash and cash equiv8lenls are basic financial assets and Include cash in hand and deposits held 8t call with banks, Other short-lerm highly liquid investments that mature in no more than three month5 from the date of acquisition and are rea(lily convertible to a known amount of cash with Insignrficanl risk of than9e in value. and bank ov&rdr8fts. 3. Incomo from Donatfjon8 and L8g8cIos Page 8
Madg in Mourno Ltd Notes to the Financial Statements (continued) For The Year Ended 30 March 2025 Th8 following grant8 are included within the total incom&-. Newry Council This had to refunded after thÈ period end date a$ it was not usèd for the $tsted purposes. 4. Incomè from OthèrTradlng Attlvltl86 2025 2024 Unrestricted fuThds Unrestricted funds Sale of donated and bought in goods 519 5. Net IncomellExp8nditurel The net expenditure 15 ststed after chargingllcre(lilingl' 2025 2024 Depreciation of tangibl& fixed asset8- owned 3,905 6. Analysis of ExpendIrg 2025 Actlvltle8 undertaken dlrectly Support ¢t5 (see note 71 Total Charitable Exp&nditure Support Costs Finan Cost 128 126 538 536 2.C69 2.069 250 Governance 25D Charitable Asset 3.905 3.905 2.C69 4.817 6.886 7 Support Costs 2025 Charitable Expènditure Charitsble Asset Support Costs Gov8rnance Total General administration 126 538 250 912 Depreciation 3.905 3,905 126 538 250 3.905 4,817 Page 9
Madg in Mourno Ltd Notes to the Financial Statements (continued) For The Year Ended 30 March 2025 8. Ind•pond8nt ExamIn68 Remuneratlon 2025 2024 Independent ex8rninalion of the fin8ncial statements Other assurance setvices Tax advisory $ervice$ Other financial services 250 250 g. Average Number of Employees Average number of &mployees during th8 yearwa8". NIL12024.' 1 10. Tanglblo A880ts Land & Propety Freehold Plant & Machinery Fixturos & Fitting$ Total Cost As at 31 March 2024 8.395 5.146 23.913 37.454 As at 30 March 2025 8.395 5,146 23.913 37,454 Depreciation As at 31 March 2024 8.395 25,154 502 33,549 3,905 Provided during the period 3,403 As st 30 March 2025 8.395 25,656 3,403 37,454 Net Book Value As at 30 March 2025 120,5101 20.510 As at 31 March 2024 120,0081 23,913 3,905 11. Stocks 2026 2024 Stock 10,000 10,000 12. Debtors 2025 2024 Due wlthln ont year other debtor8 536 Page10
Madg in Mourno Ltd Notes to the Financial Statements (continued) For The Year Ended 30 March 2025 13. Credltors.. Amount8 Falllng Du8 Wthln One Year 2025 2024 Bank loans and overdrafts Other creditor5 Taxation and social security Accruals and deferred income 18.815 4.401 5.830 4.410 19.399 701 5.830 5,800 33.456 31,530 14. Credltors.. Amounts Falllng Due After More Than One Yèar 2025 2024 Bank loan5 25.934 25.934 15. Loan5 An analysis of the maturity of loans is gDien below 2025 2024 Amounts falling due within one year or on dem8nd.. Bank loans 4,485 19,399 2025 2024 Amounts falling due between one and five years". Bank loans 25.934 25.934 16. Movement in Funds AS at 31 March 2024 As at 30 March 2025 Incomo Expenditure Unr8sttlctsd funds General.. GÈn&ral unw8tricl&d fund 143,0231 519 18,8881 149,3901 Totsl funds 143.0231 519 16.8861 149,3901 As at 31 March 2023 As at 30 March 2024 Transfers Unro8ttlctsd funds G8neral'. General unre8triclÈd fund 143,0231 143,0231 Total fund8 143.0231 143,0231 17. Transactions Trustee5 Page11
Madg in Mourno Ltd Notes to the Financial Statements (continued) For The Year Ended 30 March 2025 During the year the expense5 reimbursed to the trustees or paid (lireclly to third parties were as follows.. 202S 2024 18. R8latsd Party Dlsclosures 19. Company Ilmlted by guarant08 The company is limited by guarantee and has no share Capital. Every member of the company undertake5 to conlribLrte to the a55els of the company. in the event of a winding up. such an amount a5 may be required not exc68ding £1. Page12
Madg in Mourno Ltd Detslled Statement of Financial Activities (including Income and Expendlture Account) For The Year Ended 30 March 2025 2025 2024 Total fuThds Ttstal funds INCOMEAND ENDOWMENTS FROM: Other trading activit188 Sale of donated and bought in goods 519 519 519 EXPENDITURE ON.. Charitsble Activitlès.. Charitable Expendlture Cotnputer software costs Website costs 1251 1591 Bookkeeping fees 11261 Support Costs other office cost8 15381 15381 Finance Cost Bank charges 12.0691 12.0691 Governanc8 Independent exarninevs fees 125DI 125DI Charitsble Asset DÈprÈciation of plant and machinery Depreciation of fixture8 and fittings 15021 13.4031 13,9051 16,8881 NET EXPENDITURE 16,3671 Page13