The trustees present their annual report and financial statements for the year ended 31 March 2026.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: 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 (FRS 102)" (effective 1 January 2019).
Public Benefit Reporting
Statement of Compliance - 'in setting our objectives and planning our activities for the year trustees have given careful consideration to the Charity Commission for Northern Ireland's guidance on public benefit to ensure that the activities have helped to achieve the Charity's purposes and provide a benefit to the beneficiaries'.
Roe Valley Enterprises' purpose includes the promotion for the public benefit of urban and rural regeneration in the Limavady and Dungiven areas and their environs (the "area of benefit"), being an area of social and economic deprivation, by all or any of the following means:
(i) the relief of poverty in such ways as may be thought fit;
(ii) the relief of unemployment in such ways as may be thought fit, including assistance to find employment;
(iii) the advancement of education, training or retraining, particularly among unemployed people and providing unemployed people with work experience;
(iv) the provision of financial assistance, technical assistance or business advice or consultancy in order to provide training and employment opportunities for unemployed people in cases of financial or other charitable need through help:
(a) in setting up their own business, or
(b) to existing businesses;
(v) to develop the capacity and skills of the members of the socially and economically disadvantaged communities within the area of benefit in such a way that they are better able to identify, and help meet, their needs and to participate more fully in society.
Public Benefit
The public benefits that flow from the charitable purpose of urban and rural regeneration are:-
(a) the creation of employment, training and work experience opportunities for residents living in economically and socially deprived areas and consequently a reduction in poverty, hardship and unemployment, leading to a better quality of life for the beneficiaries.
(b) enhanced knowledge about setting up and running small businesses.
(c) increased levels of knowledge and transferable vocational skills of those employees/work experience trainees that are taken on.
These benefits are evidenced in a number of ways, both in the collection of primary data and the review of independently produced statistics.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Promotion of Enterprise Culture and Support for Entrepreneurship
Roe Valley Enterprises Ltd remains dedicated to fostering an entrepreneurial culture and encouraging self-employment as a realistic and rewarding route into economic participation. Through a range of charitable programmes and advisory services, the organisation supports individuals in developing business ideas, improving employability and achieving greater financial independence.
A particular focus is placed on supporting people who face barriers to employment, including the long-term unemployed, economically inactive individuals, women returning to the workforce, older people and those with previous involvement in the criminal justice system. Through personalised guidance and encouragement, participants are supported to develop skills, confidence and aspirations that can lead to employment, self-employment and wider social inclusion.
Through our enterprise awareness programmes, Roe Valley Enterprises helps participants to overcome these challenges, build confidence, and take meaningful steps towards re-entering the labour market, either through employment or self-employment.
Causeway Coast and Glens Borough Council Activate Programme
During the reporting period, Roe Valley Enterprises Ltd supported the delivery of Causeway Coast and Glens Borough Council's Activate Programme, an initiative designed to encourage entrepreneurship, stimulate business creation and support economic participation across the borough. The programme provided practical assistance to aspiring entrepreneurs and early-stage businesses, helping participants explore self-employment as a sustainable route to employment and financial independence.
Through one-to-one mentoring, business advice and enterprise development support, participants were assisted in developing business ideas, improving commercial skills and increasing their confidence to start and grow viable enterprises. The programme contributed to the charity's objective of reducing economic inactivity by providing accessible support to individuals who may otherwise face barriers to entering employment or business ownership.
The social and economic benefits arising from the Activate Programme extend beyond the individual participants. By encouraging business start-up activity and supporting local enterprise development, the programme contributes to job creation, increased local spending and the development of a more resilient local economy. It also helps foster a culture of innovation and entrepreneurship within communities, creating opportunities for long-term economic growth and social inclusion throughout the Causeway Coast and Glens area.
This activity complements Roe Valley Enterprises Ltd's wider charitable mission of promoting economic regeneration, supporting disadvantaged individuals and creating opportunities that improve both individual prospects and community wellbeing.
Northern Ireland Enterprise Support Service – Go Succeed
Roe Valley Enterprises also played a key role in delivering the Go Succeed Enterprise Support Service, a region-wide initiative designed to support entrepreneurs, start-up businesses and established enterprises. Working alongside Northern Ireland's local councils, the programme provides practical and accessible assistance to people at every stage of their business journey.
Through mentoring, advice and development support, the service helps create stronger businesses, generate employment opportunities and contribute to long-term economic growth throughout Northern Ireland. The programme supports the charity's objective of promoting enterprise while encouraging inclusive economic participation across local communities.
Workspace Provision and Local Impact
The provision of affordable business accommodation remains one of the cornerstones of the charity's most significant contributions to local economic regeneration. By offering accessible workspace to new and developing enterprises, Roe Valley Enterprises helps remove financial barriers that would otherwise prevent many businesses from becoming established.
At the year end, the organisation provided accommodation for 39 tenant businesses employing a combined workforce of 1,149 people. Flexible tenancy arrangements, together with access to reception facilities, CCTV, mail handling, secretarial assistance and business advice, provide an environment in which businesses can grow and prosper.
The wider charitable benefit extends far beyond the individual tenants. The businesses supported through these facilities create employment opportunities, generate local spending, strengthen the local economy and contribute to the vitality of communities that have historically experienced economic disadvantages.
Access to Finance
Access to finance remains a critical challenge for many entrepreneurs and small businesses. Roe Valley Enterprises continues to address this need through its role as a delivery partner for the Start-Up Loans Company and the Northern Ireland Small Business Loan Fund.
Throughout the year, advisers worked directly with clients to prepare loan applications, develop business plans and access grant support. By helping individuals secure investment and funding, the charity enables businesses to start, expand and create employment opportunities that benefit the wider community. This support is particularly valuable for those who may experience difficulties accessing mainstream sources of finance.
The Trustees consider these activities to make an important contribution towards social inclusion, economic development and the advancement of entrepreneurship within the local area.
The financial position of Roe Valley Enterprises Ltd as at 31st March 2026 reflects continued stability and prudent management of resources in support of the charity’s objectives.
For the year ended 31st March 2026, total income amounted to £279,619 (2025: £326,445), while total expenditure was £246,122 (2025: £271,996), resulting in a positive financial outcome for the year.
The charity’s total fixed assets stood at £2,614,418 (2025: £2,318,988), with total net assets amounting to £2,416,680 (2025: £2,090,796). Current assets as at year-end were £35,136 (2025: £31,246).
The Trustees consider the level of unrestricted funds to be essential in ensuring the charity can meet unforeseen costs and fulfil its legal obligations, particularly in the event of fluctuations in income. In line with the charity’s Reserves Policy, it is the aim of the Trustees to build and maintain free reserves equivalent to three months’ expenditure, providing a financial buffer to support operational continuity.
The primary objective of the Reserves Policy is to ensure that the level of free reserves remains appropriate to the current and anticipated needs of the organisation. The Trustees regularly monitor the reserves position to ensure alignment with strategic priorities and financial sustainability.
In the event of the winding-up or dissolution of the charity, any remaining assets—after the settlement of all liabilities—will be transferred to another charitable organisation with similar objectives, in accordance with the governing documents.
Surplus income, including capital grants released, continues to be reinvested in the development of workshop space and business units. This investment directly supports the charity’s mission to stimulate self-employment and entrepreneurship by providing affordable workspace, conference facilities, and related services.
Risk Management
The Board of Trustees has undertaken a comprehensive review of the major risks facing Roe Valley Enterprises Ltd and has adopted a formal Risk Management Policy to identify, monitor, and mitigate these risks.
Key external risks, particularly those related to funding, are being actively addressed through the implementation of the charity’s strategic plan. These risks are reviewed on an ongoing basis to ensure that appropriate controls and contingency measures are in place.
The Trustees remain committed to maintaining robust governance and oversight to safeguard the charity’s assets, reputation, and ability to deliver its charitable objectives effectively.
Roe Valley Enterprises Ltd intends to continue delivering its core activities under the strategic headings of enterprise awareness, business start-up, business development, and business support in the coming years. These activities remain central to the charity’s mission of promoting entrepreneurship and economic inclusion within the local community.
The continuation and expansion of these services will be subject to the availability of satisfactory funding arrangements. The Trustees will actively seek opportunities to secure sustainable funding to ensure the long-term viability of programmes and to enhance the organisation’s capacity to respond to emerging needs.
In alignment with its charitable objectives, Roe Valley Enterprises Ltd will also explore new partnerships, strengthen existing collaborations, and invest in infrastructure and service delivery to maximise impact and reach.
Roe Valley Enterprises Ltd is a company limited by guarantee and is also a registered charity. In accordance with charity law, the Directors of the company act as Trustees of the charity.
The organisation is governed by an Executive Board, which meets on a bi-monthly basis to oversee strategic direction, monitor performance, and ensure compliance with statutory and regulatory obligations. The Board is responsible for ensuring that the charity operates in line with its charitable objectives and maintains high standards of governance and accountability.
The Trustees bring a diverse range of skills and experience to the organisation and play a key role in shaping its development, managing risk, and safeguarding its assets for public benefit.
The Trustees of Roe Valley Enterprises Ltd, who also serve as Directors for the purposes of company law, held office during the financial year and up to the date of approval of the financial statements. Their governance and oversight have been instrumental in ensuring the charity continues to fulfil its objectives effectively and responsibly.
The individuals who served as Trustees during the year are as follows:
None of the Trustees has any beneficial interest in the company. All Trustees are members of the company and, in accordance with the Articles of Association, each has undertaken to contribute £1 in the event of the company being wound up.
The Trustees, who also serve as Directors for the purposes of company law, are responsible for preparing both the Trustees’ Report and the financial statements in accordance with applicable legislation and United Kingdom Accounting Standards, specifically UK Generally Accepted Accounting Practice (UK GAAP).
This responsibility includes ensuring that the financial statements provide a true and fair view of the charity’s financial activities and position, and that the Trustees’ Report accurately reflects the charity’s governance, operations, and compliance with its charitable objectives.
The trustees' report was approved by the Board of Trustees.
I report on the financial statements of the charity for the year ended 31 March 2026, which are set out on pages 7 to 18.
Having satisfied myself that the financial statements of the charity 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 carried out under section 65 of the Charities Act (Northern Ireland) 2008 (the 2008 Act). In carrying out my examination I have followed all the applicable Directions given by the The Charity Commission for Northern Ireland under section 65(9)(b) of the 2008 Act.
I have examined your charity financial statements as required under section 65 of the Charities Act (Northern Ireland) 2008 and my examination was carried out in accordance with 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 comparison of the financial statements presented with those records. It also included consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as charity trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me cause to believe that:
Accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
The financial statements do not accord with those accounting records; or
The financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102); or
There is further information needed for a proper understanding of the financial statements to be reached.
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 65(9)(b) of the 2008 Act. I confirm that I am qualified to undertake the examination because I am a member of ACCA, which is one of the listed bodies.
I have completed my examination and I have no concerns in respect of the 4 matters listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Roe Valley Enterprises Limited is a private company limited by guarantee incorporated in Northern Ireland. The registered office is Aghanloo Industrial Estate, Aghanloo Road, Limavady, BT49 0HE.
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: 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 (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The average monthly number of employees during the year was:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The fair value of the investment property has been arrived at on the basis of a valuation carried out in August 2026 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The directors believe the current valuation to be an accurate representation of the net realisable value of the investment properties.
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
There were no disclosable related party transactions during the year (2025 - none).