REGISTERED NUMBER: NI726812 (Northern Ireland)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

26 FEBRUARY 2025 TO 31 AUGUST 2025

FOR

THE NORTH BELFAST DIGITAL HUB

FOUNDATION LTD

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

to

6

DIRECTORS:

C G Jenkins

Sir G F Loughran

Ms P M Reynolds

Mrs C McCann

Ms D L Farquhar

SECRETARY:

P McBride

REGISTERED OFFICE:

c/o St Malachy's College

36 Antrim Road

Belfast

Antrim

BT15 2AE

REGISTERED NUMBER:

NI726812 (Northern Ireland)

ACCOUNTANTS:

Baker Tilly Mooney Moore

17 Clarendon Road

Belfast

BT1 3BG

The directors present their report with the financial statements of the company for the period 26 February 2025 to 31 August 2025.

INCORPORATION

The company was incorporated on 26 February 2025 .

PRINCIPAL ACTIVITY

The principal activity of the company in the period under review was that of other education.

DIRECTORS

The directors who have held office during the period from 26 February 2025 to the date of this report are as follows:

Ms M Horwood - appointed 26 February 2025 - resigned 27 August 2025

C G Jenkins - appointed 26 August 2025

Sir G F Loughran - appointed 26 August 2025

Ms P M Reynolds - appointed 26 August 2025

M W Wilson - appointed 26 February 2025 - resigned 27 August 2025

Mrs C McCann - appointed 26 February 2025

Ms D L Farquhar was appointed as a director after 31 August 2025 but prior to the date of this report.

All the directors who are eligible offer themselves for election at the forthcoming first Annual General Meeting.

GRANTS RECEIVED

During the period the Foundation received a grant of £160,956 from the Diocese of Down & Connor. £34,063 of this was recorded as income in the current period with the balance included in other creditors for capital projects in the next period.

The Foundation was awarded a grant of £120,000 by Mary Ann McCracken Foundation for the period April 2025 to March 2027 on 29th Aug 2025. The first tranche of funding amounting to £30,000 was received in September 2025 and allocated for the period April 2025 to September 2025. £17,500 of this was recorded as income and spent in the current period. The remaining £7,500 of this funding relates to the next accounting period.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Sir G F Loughran - Director

18 August 2026

TURNOVER

-

Administrative expenses

51,563

(51,563

)

Other operating income

51,563

OPERATING SURPLUS and

SURPLUS BEFORE TAXATION

-

Tax on surplus

-

SURPLUS FOR THE FINANCIAL PERIOD

-

CURRENT ASSETS

Debtors

4

144,393

CREDITORS

Amounts falling due within one year

5

144,393

TOTAL ASSETS LESS CURRENT LIABILITIES

-

RESERVES

-

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 18 August 2026 and were signed on its behalf by:

Sir G F Loughran - Director

1.	STATUTORY INFORMATION

The North Belfast Digital Hub Foundation Ltd is a private company, limited by guarantee , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

The directors do not believe there be be any critical judgements or estimations included in the financial statements.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Debtors

Other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Creditors

Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

144,393

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other creditors

144,393

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

No director emoluments were paid during the period.

There were no transactions during the period in which any director or related party had an interest requiring disclosure.

7.	ULTIMATE CONTROLLING PARTY

The company is limited by guarantee, not having a share capital.