COMPANY REGISTRATION NUMBER: N1685755
CHARITY REGISTRATION NUMBER: 109163
Northern Ireland Resources Network
Company Limited by Guarantee
Unaudited Financial Statements
31 March 2024

Northern Ireland Resources Network
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2024
Page
Trustees, annual report (incorporating the director's report)
Independent examiner's report to the trustees
Statement of financial activities {including income and
expenditure account)
11
Statement of financial position
12
Statement of cash flows
13
Notes to the financial statements
14

Northern Ireland Resources Network
Company Limited by Guarantea
Trustses. Annual Report (Incorporating the Director's Report)
Year ended 31 March 2024
The trustees, who are also the directors for the purposes of company law, present their report and the
unaudited financial statements of the charity for the year ended 31 March 2024.
Reference and administrative details
Registered charity namo
Northern Ireland Resources Network
Charity reglstration number
Company reglstratlon number N1685755
Prlnclpal office and registored The Milestone Centre
office
Quary Road
Carrickmore
Co Tyrone
BT79 9AL
109163
The trustees
Ms N Griffiths
Mr M Campbell
Ms H Clarke
Mr D L Glendinning
Mr L McNally
Mr M Sloan
(Resigned 8 January 2024)
Company secretary
NIA
Independent examiner
Mr Paul Leathem
Muir Building
427 Holywood Road
Belfast
BT4 2LT

Northern Ireland Resources Network
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (contlnu
Year ended 31 March 2024
Structure, governance and management
Dlrectorsrrrustees
The Board of DirectOrs￿rUsteeS is responsible for the overall governan￿ of the Company. The total
number of Directorsrrrustees may not be less than three. Any Directorrrrustee is appointed for Iwo
years but if willing to act shall be eligible for reappointment for a further hvo years. The Board elects
one of its members to act as Chairperson for the term at their first meeting.
The Board meets at least four times each year where the board reviews strategy and operational
performance and set annual operating plans and budgets. The Board approves all applications for
membership to the organisation. Directorsrrrustees are encouraged to attend appropriate extemal
training events where these will help their role.
The Board delegates the exercise of ￿rtain tasks in connection with the management and
administration of the Company to staff employed by the Company. This is controlled by requiring regular
reporting back to the Board so that all decisions can be ratified in due course.
Statement of Dlrectorsrrrustees's Re8ponslbllities and Corporats Governance
The Company is registered with the Charity Commission for Northern Ireland. The DirectOrs￿ruSteeS
are responsible for their annual report and for the preparation of financial statements for each financial
year which gives a true and fair view of the state of affairs of the Company and of the net movement in
funds of the Company for that period. In preparing those financial statements, the DirectOrs￿rUsteeS
are required to:
Select suitable accounting policies and then apply them consistently
Make Judgements and estimates that are reasonable and prudent
Observe the methods and principles in the Charities SORP
stste whether applicable accounting standards have been followed subject to any material
departures disclosed and explained in the financial statements
Prepare the financial statements on the going concern basis unless is if inappropriate to presume
that the company will continue in business
The Directorsrrrustees are responsible for ensuring that the Company keeps proper accounting record5
which disclose with reasonable accuracy at any time the financial position ofthe Company and to enable
them to ensure that the financial statements comply with the Companies Act 2006. They are also
responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities and to provide reasonable assurance that..
The Company is operating efficiently and effectively
Proper records are maintained and financial infomiation used with the Company, or for publication
is reliable
The Company complies with the relevant laws and regulations

Northern Ireland Resources Network
Company Limited by Guarantee
Trustses. Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Structure, governance and management (continued)
Internal Controls
Internal controls over all form5 of commitfflents and expenditure are in place to ensure that performance
is monitored and the appropriate management information is prepared and reviewed monthly by
executive management and quarterly by Ihe Board. The systems of internal control are deslgned to
provide reasonable but not absolute assurance against material misstatement or loss. They include..
A Strategic Plan, Annual Business Plan and Annual Budget approved by the Board
Regular consideration by the Board of financial results, VarIan￿S from budget and non-financial
performance indicators
Delegation of day to day management authority and appropriate segregation of duties: and
Identification and management of risks
Risk Statement
An internal risk assessment has been undertaken in order to identify major risks to which the
organisation is exposed. These have been identified as-.
Financial
need to develop further income stream5 and mitigate against risk of relian￿ on one funder.
agree and implement a reserves policy
The Board recognises its responsibillties for the managementof risk and has in place a RiskAssessment
which categorises risk in terms of severity, likelihood and consequences. The Assessment is reviewed
annually and risk is monitored regularly

Northern Ireland Resources Network
Company Limited by Guarantse
Trustees, Annual Report (Incorporating the Director's Report) {condnued)
Year ended 31 March 2024
Structure. governance and management (contlnuod)
Rlsk Management
The organisation has in place 8 System of internal controls which governs its operations. These controls
have been designed to provide a reasonable assuran￿ against risk and include:
A Governance Framework
Financial processes and pro￿dureS
A Strategic Plan, an Annual Business Plan and an Annual Budget which have all been approved
by the Board
Monthly review of the financi81 perfomance by the Executive Director including variance from
budget and variance from cash flow and quarterly review by the Board of these performance
indicators
Objectives set annually for the organisation's activities. Progress against these objectives is
morbitored monthly the Executive Director and quarterly by the Board against agreed targets and
benchmarks
Continual identification and management of risk
Reserves Pollcy
The DirectOrs￿ruSteeS believe that the Company should hold financial reserves because..
It has no endowment funding and 15 currently dependent for income on Government grants
It requires protection against and the ability to continue operats'ng despite unforeseen setbacks
It requires the abiltty to tske advantage of change and opportunities to further its objectives
The Directorstfrustees believe that the level of unrestricted reserves should be the equivalent of three
months operaling costs calculated and reviewed annually. Reserves should be built up to the desired
level and this will be an ongoing focus of the Board.

Northern Ireland Resources Network
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) fconllnued)
Year ended 31 March 2024
Objectlves and activitios
Our mission is to promote sustainable reuse and repair as a practical and effective way of tackling
Northern Ireland's waste generation and develop opportunities in the Circular Economy.
Our Charity's objectives are:
advancement of environmental protection or improvement of the natural environment by the
promotion of community based reuse and repair of products and activities and by the promotion,
advancement support and implementation of an effective and coordinated national ne￿Ork in
Northern Ireland for the development and implementation of sustainable policies and practices to
promote the recovery, redistribution and reuse of all products, to promote social inclusion and the
engagement of communities in accessing local environmental services and maintain a ne￿Ork
public presence to encourage waste prevention on a national level through events, conferences,
newsletters, internet marketing, best practice guidance and support, policy development and
representation and to liaise on a strategic level with similar network organisations across UK,
Ireland, Europe and elsewhere
advancement of community development and the promotion of social inclusion to support
members in the delivery of employment and training programmes or research related to the reuse
and repair of products which target disadvantage and provides opportunities for those furthest from
the workplace
advancement of education about environmental matters related to the reuse and repair or products
and to promote training programmes or research related to the reuse and repair or products, social
inclusion and community development
the prevention or relief of poverty by supporting members through the supply of reused and
paired items and goods for the benefit of the public

Northern Ireland Resources Network
Company Limitad by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) {continufjd)
Year ended 31 March 2024
Achievements and performance
Achlevements & Performance
Two years have passed since the Northern Ireland Resources Network (NIRNI transitioned from a pilot
project to becoming an independent organisation. During this time, NIRN secured a three-year business
case agreement with the Department of Agriculture, Environment and Rural Affairs (DAERA), which
now provides funding through revenue generated from the carrier b8g levy.
During the 2023124 financial year, the Department of Agriculture, Environment and Rural Affairs
(DAERA) increased its funding allocation to the Northern Ireland Resources Ne￿Ork {NIRN). This
enhanced support allowed NIRN to expand its team by employing two part-time staff members: a
Community Network Manager and a Network Coordinator. These new roles significantly strengthened
the ne￿ork'S capacity, enabling a greater focus on key initiatives and deeper engagement with its
members. As a result, NIRN was better positioned to enhance collaboration, and advan￿ its
overarching goals of promoting reuse and repair within the community.
NIRN has grown to encompass a diverse ne￿Ork of over 40 full members, reflecting a wide range of
organisations and initiatives committed to reuse, repair, and sustainability. This membership includes
representats'on frorn all 11 Local Authorities in Northem Ireland. demonstrating strong collaboration with
regional government. Additionally, it includes 6 Repair Cafés that provide spaces for communities to
mend and restore items, 7 food-sharing organisations working to reduce food waste and promote
redistribution, 9 charity shops contributing to circular economy practices through second-hand retsil,
and 5 Supporter Members who advocate for and assist in advancing the goals of the reuse and repair
sector.
This year, NIRN introduced several initiatives to support its members and raise awareness about the
reuse and repair sector. Among these was the launch of a monthly e-newsletter, designed to inform the
public and spotlight the activities of NIRN'S members. To support the growth of members NIRN piloted
Circular Resources Library, a platform that allows members to share skills, knowledge, and resources
with one another and the wider community. The initiative aims to increase sector visibility and encourage
broader engagement with clrcular economy Practi￿$.
NIRN also benefits from funding under the National Lottery Climate Action Fund through a partnership
with The Playhouse in Derry. This collaborative project, Artitude, seeks to inspire communities to engage
in climate action and circularity through the arts. As part of this initiative, NIRN has adopted storytelling
as a powerful tool to highlight the impact and activities of its members. One outcome has been the
launch of a monthly podcast series.
During European Week for Waste Reduction {EIIvwR), NIRN produced a special podcast series
focusing on the theme of packaging waste. The series featured interviews with a diverse range of
stakeholders, including representatives from the Department for the Economy and DAERA, local
authorities, and the Dean of Sustsinability at Ulster University- This series was recognized for its impact,
earning a nomination in the NGO category at the ElIlAIVR awards, Whe￿ it secured a spot among the
top three finalists.
NIRN successfully applied for and obtained membership to RREUSE, a prominent ne￿ork representing
reuse and repair organisations across Europe. Membership provides NIRN with valuable Opportunities
to connect with a broader network of organizations in this field, enabling knowledge exchange and
collaboration. Through thi5 membership, NIRN can share insights with its members while also learning
from best practice5 across Europe. Additionally, membership enhance5 the visibility of NIRN. its
members, and their activities on a European stage.

Northern Ireland Resources Network
Company Limited by Guarantee
Trustses, Annual Report (Incorporating the Director's Report) fcontinued)
Year ended 31 March 2024
Our members continue to lead the way with creative and innovative efforts to advance reuse and repair
initiatives. A key part of NIRN'S role is to document the extensive environmental, social, and economic
benefits these activities generate. Data collected for 2023 highlights the remarkable impact of their
efforts.. collectively, our members diverted over 8,000 tonnes of materials through reuse, repair, and
lending activities, resulting in an estimated reduction of more than 40,000 tonnes of C02 emissions.
Additionally, training and education remain central to their mission, with over 10,000 individuals
receiving education or upskilling opportunities to further support sustainability practices. Through our
members over 300,000 people were supported through reuse and repair, helping to alleviate the cost of
living challenges.
With an expanded team, NIRN is intensifying efforts to promote reuse and repair, recognizing that much
work remains in raising awareness, suppjrting members, and advancing education. Significant
challenges and opportunities lie ahead as NIRN continues to expand its initiatives, striving to establish
reuse and repair as essential pillars of environmental sustainability.
Financlal revlew
A detailed overview of the financial perforrnance of NIRN is included in the Financial Statements. The
income generated and expenditure incurred was for the purpose of delivering the Department of
Agriculture, Environment & Rural Affairs grant project for Reuse & Repair ne￿ork.
Trustees, responsibllities Statement
The trustees, who are also directors for the purposes ofcompany law, are responsible for preparing the
trustees, 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 charity trustees to prepare financial statements for each year which give a
true and fair view of the state of affairs of the charitable company and the incoming resources and
application of resources, including the income and expenditure, for that period.
In preparing these financial statements, the trustees are required to..
select suitable accounting policies and then apply them consistently.,
observe the methods and principles in the applicable Charities SORP.,
make judgments and accounting estimates that are reasonable and prudent.,
prepare the financial ststements on the going concern basis unless it is inappropriate to presume
that the charity will continue in business.
The trustees are responsible for keeping adequ8te accounting records that are sufficient to show and
explain the charity's transactions and disclose with reasonable accuracy at any tirne the financial
position of the charity and enable them to ensure that the financial statements comply with the
Companies Act 2006. They 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.

Northern Ireland Resources Network
Company Limited by Guarantee
Trustses, Annual Report (Incorporating the DirectO￿S Report) (contlnued)
Year ended 31 March 2024
The trustees, annual report was approved on g De￿mber 2024 8nd signed on behalf of the board of
trustees by..
Mr M Sloan
Trustee

Northern Ireland Resources Network
Company Limlted by Guarantee
Independent Examiner's Report to the Trustees of Northern Ireland Resources
Network
Year ended 31 March 2024
I report to the trustees on my examination of the financial statements of Northem Ireland Resources
Network ('the charity,) for the year ended 31 March 2024.
Responsibilitles and basis of report
As the trustees of the company (and also its dlrectors for the purposes of company law) you are
responsibl8 for the preparation of the financial statements in accordance with the requirements of
Charities Act (North8rn Ireland) 2008 (the '2008 Act,) and th8 Companies Act 2006 {'the 2006 Act,). You
are satisfied that the accounts of the company are not r8quir8d by charity or company law to be audited
and have chosen instead to have an independent examination.
Having satisfied myself 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 my examination of
the charity's financial statements as carried out under Section 65 of tha 2008 Act. In carrying out my
examination I have followed the genaral Directions giv8n by the Charity Commission for Northem Ireland
under section 65{9)(b) of the 2008 Act.
Indapendent oxamlnorfs statement
I have completed my examination. I confirm that no matters have come to my attention in connection
with my examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the
2006 Act; or
the financial statements do not accord with ihose records; or
the financial statements do not comply with the accountlng r8quirem8nis of section 396 of th8
2006 Act other than any requirement that the accounts give a 'true and fairf view which is not
a maiter consldered as part of an independent examination,. or
the financial statements hav8 not been prepared in accordance with the methods and
principles of the Stalem8nt of Recommended Practic8 for accounling and r8POrting by
charities applicable to Charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021.

Northern Ireland Resources Network
Company Llmited by Guarantee
Independent Examinerfs Report to the Trustees of Northern Ireland Resources
Network (conlinuod)
Year ended 31 March 2024
I confirm that there are no other matters to which your attention should be drawn to enable a prop8r
understanding of the accounts to be reached.
Mr Paul Leathem
Ind8pendent Examiner
Mulr & Addy Chartered Accountants
Muir Building
427 Holywood Road
Belfast
BT4 2LT
9Dec24
10

Northern Ireland Resources Network
Company Limited by Guarantee
Statsment of Financial Activities
(including income and expenditure account)
Year ended 31 March 2024
Period from
11 Feb22to
31 Mar 23
Year to 31 Mar 24
Unrestricted
Restricted
funds
funds Total funds Total funds
Note
Income and endowments
Donations and legacies
Charitable activities
2,550
12,932
15,482
125,000
127,550
12,932
97,000
Totsl Income
125,000
140,482
97.000
Expenditure
Expenditure on charitable 8Ctivities
Total expenditure
8,219
8,219
105,740
113,959
90,588
90,588
105,740
113,959
Not Income
7,263
19,260
26,523
6,412
Transfers bet￿een funds
(4,713)
4,713
Net movement in fund8
2,550
23,973
26,523
6,412
Reconcillatlon of funds
Total funds brought forward
Total funds carried forward
6,412
6,412
32,935
2,550
30,385
6,412
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Tho notss on pages 14 to 22 forrn part of these financial statsments.
11

Northern Ireland Resources Network
Company Limited by Guarantee
ststament of Financial Position
31 March 2024
2024
2023
Nots
Current assets
Debtors
Cash at bank and in hand
12
32,150
18,042
50,192
28,728
4,439
33,167
Credltors: amounts falling due within one year
Net current assets
13
17,257
26,755
32,935
6,412
6,412
Total assets less current Ilabllities
32,935
Net assets
32,935
6,412
Fund8 of the charlty
Restricted funds
Unrestricted funds
30,385
2,550
6,412
Total charlty funds
15
32,935
6,412
For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477
of the Companies Act 2006 relating to small companies.
Directors, responsibilities..
The members have not required the company to obtain an audit of its financial statements for the
year in questlon in accordance with section 476.,
The directors acknowledge their responsibilities for complying with the requirements of the Actwith
respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to
companies subject to the small companies, regime.
These financial statements were approved by the board of trustees and authorised for issue on 9 Dec
24, and are signed on behalf of the board by:
Ms N Griffiths
Trustee
Mr M Sloan
Trustee
The notss on pages 14 to 22 form part of these financial statements.
12

Northern Ireland Resources Network
Company Limitsd by Guarantee
Statement of Cash Flows
Year ended 31 March 2024
2024
2023
Cash flows from operating activltles
Net income
26,523
6,412
Adjustments for
Interest payable and similar charges
Accrued expenses
40
2,377
5,675
Ch8nges in..
Trade and other debtors
Trade and other creditors
(3,422)
(15,173)
13,603
(28,728)
24,378
Cash generated from operations
4,479
Interest paid
Net cash from operating activities
{40>
4,439
13,603
Not Increase In cash and cash equlvalents
Cash and cash equlvalents at beginning of yaar
Cash and cash equivalents at end of year
13,603
4,439
18,042
4,439
4,439
The notes on pages 14 to 22 forni part of these financial staternènt8.
13

Northern Ireland Resources Network
Company Limited by Guarantee
Notss to the Financial Statsments
Year ended 31 March 2024
General information
The charity is a public benefit entity and a private company limited by guarantee, registered in
Northern Ireland and a registered charity in Northern Ireland. The address of the registered office
is The Milestone Centre, Quarry Road, Carrickmore, Co Tyrone, BT79 9AL.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the 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 IFRS 102) (Charities
SORP {FRS 102)) and the Companies Act 2006.
Accounting pollci08
Bas18 of preparatlon
The fi'nancial statements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities and investment properties measured at fair
value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Golng concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estlmatlon uncertainty
The preparation of the financial ststements requires management to make judgements, estimates
and assumptions that affect the amounts reported. These estimates and judgements are
continually reviewed and are based on experience and other factors, including expectations of
future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the
charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or
commitment.
Restricted fLJnds are subjected to restrictions on theirexpenditure declared by the donor or through
ihe terms of an appeal, and fall into one of sub-classes.. restricted income funds or endowment
funds.
14

Northern Ireland Resources Network
Company Limited by Guarantee
Notes to the Financial Statements {continued)
Year ended 31 March 2024
Accounting policies (contlnuedj
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has
passed to the charity; it is probable that the economic benefits associated with the transaction will
flow to the charity and the amount can be reliably measured. The following specific policies are
applied to particular categories of income=
income from donations or grants is recognised when there is evidence of entitlement to the
gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is
impractical to measure reliably, in which case the value is derived from the cost to the donor
or the estimated resale value. Donated facilities and services are recognised in the accounts
when received if the value can be reliably measured. No amounts are included for the
contribution of general volunteers.
income from contracts for the supply of seNices is recognised with the delivery of the
contracted service. This is classified as unrestricted funds unless there is a contractual
requirement for it to be spent on a particular purpose and returned if unspent, in which case
it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered, and is classified under headings of the statement of financial
activities to which it relates..
expenditure on raising funds includes the costs of all fundraising actlvities, events, non-
charitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking
activities that further its charitable aims for the benefit of its beneficiaries, including those
support costs and costs relating to the governance of the charity apportioned to charitable
activities.
other expenditure includes all expenditure that is neither related to raising funds for the charity
nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs
attributable to a single activity are allocated directly to that activity. Shared costs are apportioned
be￿een the activities they contribute to on a reasonable, justifiable and consistent basis.
15

Northern Ireland Resources Network
Company Limited by Guarantse
Notas to the Financial Ststements (conllnued)
Year ended 31 March 2024
Accounting policies fcontinued)
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a paty to the
contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including
any related transaction costs, unless the arrangement constitutes a financing transaction, where it
is recognised at the present value of the future payments discounted at a market rate of interest
for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or otherconsideration
expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
VNhere investments in shares or preference shares are publicly traded or their fair value can
otherwlse be measured reliably, the investment Is subsequently measured at fair value with
changes in fair value recognised in income and expenditure. All other such investments are
subsequently measured at cost less impairment.
other financial instruments, including derivatives, are initially recognised at fair value, unless
payment for an asset is deferred beyond normal business terms or financed at a rate of interest
that is not a market rate, in which case the asset is measured at the present value of the future
payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised
in profit or loss, with the exception of hedging instruments in a designated hedging relationship
(see hedge accounting policy).
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence
of irnpairment at the end of each reporting date. If there is objects've evidence of impairment, an
impairment loss is recognised under the appropriate heading in the ststement of financial activities
in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually
significant, these are assessed individually for impairment. Other financial assets are either
assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not
result in a carrying amount of the financial asset that exceeds what the carrying amount would
have been had the impaiment not previously been recognised.
Deflned contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which
the related service is provided. Prepaid contributions are recognised as an asset to the extent that
the prepayment will lead to a reduction in future payments or a cash refund.
16

Northern Ireland Resources Network
Company Limited by Guarantee
Notes to the Financial Statements Icontlnuedj
Year ended 31 March 2024
Accounting pollcles (continued)
Deflned contribution plans (conlinued)
When contributions are not expected to be settled wholly within 12 months of the end of the
reporting date in which the employees render the related service, the liability is measured on a
discounted present value basis. The unwinding of the discount is recognised as an expense in the
period in which it arises.
Llmited by guarantee
The company is an incorporated company limited by guarantee. The company was established
under a Memorandum of Association which established the objects and powers of the company
and is governed under its Articles of Association. In the event the charity is dissolved, every
member promises, whi15t serving as a member or within one year after it ceases to be a member,
to pay up to £1 towards..
payments of those debts and liabilities of the Charity incurred before helshe ceased to be a
member.,
payment of the costs, charges and expenses of winding up,. and
the adjustment of rights of contributors among themselves
Donatlons and legacles
Unrestricted
Fund5
Restricted Total Funds
Funds
2024
Donatlons
Donations
1,000
1,000
Grants
Grants receivable - DAERA
125,000
125,000
Subscriptions
Subscriptions
1,550
2,550
1,550
127,550
125,000
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Donatlons
Donations
Grants
Grants receivable - DAERA
97,000
97,000
Subscriptions
Subscriptions
97,000
97,000
17

Northern Ireland Resources Network
Company Limited by Guarantee
Notss to the Financial Statsmants (contlnuedj
Year ended 31 March 2024
Charltable activities
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Artitude Project
12,932
12,932
Expendlture on charitable activltles by fund type
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Sustainable reuse & repair
Support costs
8,219
103,940
1,800
105,740
112,159
1,800
113,959
8,219
Unrestricted
Funds
Restricted Totsl Funds
Funds
2023
Sustainable reuse & repair
Support costs
88,788
1,800
88,788
1,800
90,588
90,588
Expenditure on charitable actlvities by actlvity typè
Activities
undertaken
directly
Support Total fund8
costs
2024
Total fund
2023
Sustainable reuse & repair
Governance costs
112,159
112,159
1,800
88,788
1,800
1,800
1,800
112,159
113,959
90,588
Independent examlnatlon foes
Period from
Year to 11 Feb 22 to
31 Mar 24
31 Mar 23
Fees payable to the independent examiner for..
Independent examinats'on of the financial statements
1,800
1,800
18

Northern Ireland Resources Network
Company Limited by Guarantee
Notes to the Financial Statements (contlnued)
Year ended 31 March 2024
10. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
Period from
Year to 11 Feb 22 to
31 Mar 24
31 Mar 23
Wages and salarie5
Social security costs
Employer contributions to pension plans
51,402
30,600
1,839
721
53,252
31,321
The average head Count of employees during the year was 3 (2023.. 1). The average number of
full-time equivalent employees during the year Is analysed as follows:
2024
2023
No.
No.
Number of staff
No employee received employee benefits of more than £60,000 during the year (2023.. Nil).
Key Managemant Personnel
Key management personnel include all persons that have authority and responsibility for planning,
directing and controlling the activities of tlie charity. The total compensation paid to key
management personnel for services provided to the charity was £32,466 (2023.'£31,321).
11. Trustee remuneration and expenses
Remuneration
no remuneration or other benefits from employment with the charity or a related entity were
received by the trustees.
Expen8é8
During the year ended 2024 no trustees have claimed for reimbursement of expenses for travel
(2023- 1 trustee claimed £20)
During the year ended 2024 5 trustees have claimed expenses paid directly to third parties for
hotel accommodation amounting to £572 (2023- 2 trustees claimed a total of £318.
12. Debtors
2024
2023
Trade debtors
Prepayments and accrued income
Other debtors
32,150
21,750
6,280
698
32,150
28,728
19

Northern Ireland Resources Network
Company Limited by Guarantse
Notes to the Financial Statements f¢on¢inued)
Year ended 31 March 2024
13. Credltors: amounts falling due within one year
2024
2023
Trade creditors
Accruals and deferred income
Social security and other taxes
Other creditors
7,248
8,052
1,258
699
21,335
2,377
3,043
17,257
26,755
14. Pen8ion8 and other post retlremont beneflts
Deflned contrlbutlon plan8
The amount recognised in income or expenditure as an expense in relation to defined contribution
plans was £1,839 (2023.. £721).
For the period ended 31 March 2024 £69912023: £1,357) wa5 Outstanding.
15. Analysls of charltable funds
Unrestricted funds
At
31 March 20
24
At
1 April 2023
Income Expenditure
Transfers
General funds
15,482
(8,219)
(4,713)
2,550
At
11 February
2022
At
31 March 20
23
Income Expenditure
Transfers
General funds
20

Northern Ireland Resources Network
Company Limit8d by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
15. Analysls of charitable funds fcontinuedj
Restricted funds
At
31 March
2024
At
1 April 2023
Income Expenditure
Transfers
DAERA - Reuse &
repair network
6,412
125,000
(105,7401
4,713
30,385
At
11 February
2022
At
31 March
2023
Income Expenditure
Transfers
DAERA- Reuse &
repair ne￿Ork
97,000
(90,5881
6,412
DAERA - reuse & repair network
Northern Ireland needs to establish and maintain a reuse and repair network to meet the statutory
recycling targets, combat climate change and to deliver a circular economy.
Transfers between funds
During the year an amount of £4,713 was transferred from unrestricted general fund to the
restricted DAERA- reuse & repair network. A new funding source was established that has allowed
for the re-allocation of costs previously claimed against the DAERA restricted fund.
16. Analysls of net assets botween funds
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Current assets
Creditors less than 1 year
Net assets
2.550
47,642
(17,257)
30,385
50,192
(17,257)
32,935
2,550
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Current assets
Creditors less than 1 year
33,167
(26,755)
6,412
33,167
(26,755)
6,412
Net assets
21

Northern Ireland Resources Network
Company Limitsd by Guarantse
Notes to th8 Financial Statements (conllnuedj
Year ended 31 March 2024
17. Analysls of changes in net debt
At
31 March
2024
At
1 April 2023 Cash flows
Cash at bank and in hand
4,439
13,603
18,042
18. Golng concern
The company has limited accumulated unrestricted funds as at 31st of March 2024 and the primary
focus is in the successful delivery of the DAERA grant project. The Trustees of NIRN are working
on a 3-year strategy that will support additional unrestricted income streams with a view to
accumulating future unrestricted funds. The Trustees are confident that it is appropriate to
prepare the financial statements on a going concem basis.
22