for the Period Ended 31 January 2024
Directors report | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 January 2024
Principal activities of the company
Directors
The directors shown below have held office during the whole of the period from
1 February 2023
to
31 January 2024
The directors shown below have held office during the period of
1 July 2023
to
31 January 2024
Secretary
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Director
As at
Notes | 2024 | 2023 | |
---|---|---|---|
|
£ |
£ |
|
Fixed assets | |||
Intangible assets: | 3 |
|
|
Tangible assets: | 4 |
|
|
Total fixed assets: |
|
|
|
Current assets | |||
Debtors: | 5 |
|
|
Cash at bank and in hand: |
|
|
|
Total current assets: |
|
|
|
Creditors: amounts falling due within one year: | 6 |
(
|
(
|
Net current assets (liabilities): |
|
( |
|
Total assets less current liabilities: |
|
|
|
Creditors: amounts falling due after more than one year: | 7 |
(
|
(
|
Accruals and deferred income: |
(
|
(
|
|
Total net assets (liabilities): |
|
( |
|
Members' funds | |||
Profit and loss account: |
|
( |
|
Total members' funds: |
|
( |
The notes form part of these financial statements
The directors have chosen not to file a copy of the company's profit and loss account.
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 January 2024
Basis of measurement and preparation
Tangible fixed assets depreciation policy
Intangible fixed assets amortisation policy
Other accounting policies
for the Period Ended 31 January 2024
2024 | 2023 | |
---|---|---|
Average number of employees during the period |
|
|
for the Period Ended 31 January 2024
Goodwill | Other | Total | |
---|---|---|---|
Cost | £ | £ | £ |
At 1 February 2023 |
|
|
|
Additions |
|
|
|
Disposals | |||
Revaluations | |||
Transfers | |||
At 31 January 2024 |
|
|
|
Amortisation | |||
At 1 February 2023 |
|
|
|
Charge for year |
|
|
|
On disposals | |||
Other adjustments | |||
At 31 January 2024 |
|
|
|
Net book value | |||
At 31 January 2024 |
|
|
|
At 31 January 2023 |
|
|
for the Period Ended 31 January 2024
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
---|---|---|---|---|---|---|
Cost | £ | £ | £ | £ | £ | £ |
At 1 February 2023 |
|
|
|
|||
Additions |
|
|
|
|||
Disposals | ||||||
Revaluations | ||||||
Transfers | ||||||
At 31 January 2024 |
|
|
|
|||
Depreciation | ||||||
At 1 February 2023 |
|
|
|
|||
Charge for year |
|
|
|
|||
On disposals | ||||||
Other adjustments | ||||||
At 31 January 2024 |
|
|
|
|||
Net book value | ||||||
At 31 January 2024 |
|
|
|
|||
At 31 January 2023 |
|
|
|
for the Period Ended 31 January 2024
2024 | 2023 | |
---|---|---|
£ | £ | |
Other debtors |
|
|
Total |
|
|
for the Period Ended 31 January 2024
2024 | 2023 | |
---|---|---|
£ | £ | |
Other creditors |
|
|
Total |
|
|
for the Period Ended 31 January 2024
2024 | 2023 | |
---|---|---|
£ | £ | |
Other creditors |
|
|
Total |
|
|
Summary Overview of Glens Digital Hub Grow the Glens (GtG) was formed in February 2016 to focus specifically on the development of employability and employment initiatives in the Glens of Antrim in Northern Ireland. Its aim is to make the Glens of Antrim a better place to live in, to visit and to do business in. In January 2020, the group was formally constituted as a Community Interest Company (CIC) Limited. GtG members are experienced individuals (Former school inspector, Director of a major M+E company, Director of a Catering Company, Director of an Energy supply company, an accountant, former EU funds manager and a project manager) GtG aims to drive economic initiatives in the Glens of Antrim. The group is locally based with a strong community focus. Grow the Glens (GtG) identified the need for this specific project in 2018. The decision to abandon the Police Station in 2016 meant that the site was now derelict and offered the potential to be used as a community asset. The initial challenge, which turned out to be probably the most difficult, was to acquire the site. This took over 2 years and was achieved after numerous meetings, garnering of political support and help from the Community Ownership Fund (COF). Funding was sought and awarded from COF (£300k), the NI Department for Communities (£300k), the Derelict Buildings programme supported by Causeway Coast and Glens Borough Council (£50k), a loan from Community Finance Ireland (£60k) as well as other private and local sources. Work commenced February 2023 and was complete end of August 2023. The building came in on budget and we maximised and used the full extent of our grant aid. There was further ongoing interior work and whilst we had some activities and clients up to December 2023, the centre was fully operational at the start of 2024. We have clients using the centre for a range of other activities such as: - Interview venue - Board meetings - Workshops-especially from private sector clients - PR events - Community events - Training venue We are actively putting together a programme of business-based events/workshops and mentoring to reach out to our local community as well as benefiting the internal clients. We are already ahead of our year 1 occupancy target of 35%. Q4 2023 saw us in full possession of a complete Centre - the task now was to build the systems, establish the volunteer support network that would staff the centre and, test our capability and effectiveness with a small, but diverse, number of users. This soft launch approach allowed us to refine our practices and amend our offering. In January 2024 we started promoting our facilities more fully to the local community through signage, online media, social engagement and walk-in open days each Thursday/Friday. In the first quarter of this year, we have quadrupled our social reach and trebled our online users. We have developed a network of support with Invest NI, Catalyst, Women in Business and Northern Regional College - all of whom have committed to a series of events and training in 2024/25. Our research and community engagement have led us to initially focus on encouraging female participation in skills development, empowering a return to the workplace, and developing female entrepreneurship. We have facilitated women-only courses, training and mentorship to create a safe and vibrant space for peer-led learning and development. The Cushendall Innovation Centre is much more than a place to base your business. It has become a focal point for skills development, for learning, for networking and for facilitating collaborative growth - of both people and businesses. All of our major local employers have utilised the space in the building for workshops, teleconferencing, interviewing and training. Local community groups have used our meeting and training rooms - as some of the only fully accessible meeting/ working space on the coastline - to enhance community engagement and participation. We have people from a diverse range of businesses and organisations using the building regularly as a place to work - the majority of them women. Currently, workers from financial services, tourism, fintech, medical tech, marketing, charitable, environmental and banking sectors are using the Centre. Our facility includes 4 own door offices, 1 seven-seat hotdesking/ training room and 2 meeting rooms - one of which can be repurposed as a consultation/treatment room. Our hot desking facility has a run rate of 30%, which we hope to improve by introducing an online booking and direct entry service. Also, our meeting facilities have growing usage with a weekly average occupancy of 2 days per week. Since we have rededicated one of our meeting rooms as a consultation space we now have weekly usage from a psychiatrist and a speech and language therapist. We hope to further develop our health and wellbeing portfolio in the coming months.
Our Directors have participated in three community surveys, four community consultations, and multiple Council interactions since January 2024. We have also had three open day/evening sessions for the general public supported by Northern Regional College, Go Succeed, local council and Catalyst Belfast.
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
15 October 2024
And signed on behalf of the board by:
Name: Liam O'Hagan
Status: Director