| East Border Region Limited |
| Notes to the Accounts |
| for the year ended 31 December 2025 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the company.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
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Turnover |
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Grants are receivable from the following bodies in accordance with the conditions set out within the strategy document issued by the Board: |
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Armagh City, Banbridge and Craigavon Borough Council |
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Newry, Mourne and Down District Council |
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Ards and North Down Borough Council |
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Monaghan County Council |
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Meath County Council |
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Louth County Council |
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S.E.U.P.B. |
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Department of Foreign Affairs and Trade – Reconciliation Fund |
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Briefly, the company is entitled to draw down on funds granted to them, to cover administration costs, when the relevant expenditure has been committed. |
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Grants drawn down in respect of administration and project costs, have been shown as turnover within the profit and loss account. Grants drawn down in respect of capital expenditure, have been capitalised within the balance sheet and are then amortised through the income and expenditure account to match the related depreciation. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Fixtures and fittings |
25% straight line |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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Impairment |
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Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and loss account unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
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| 2 |
Audit information |
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The audit report is unqualified. |
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Name of the statutory auditor: |
Thomas Beggs ACA |
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Firm: |
Fitzpatrick & Kearney Ltd |
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Chartered Accountants & Registered Auditors |
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Date of Audit Report |
28 August 2026 |
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| 3 |
Employees |
2025 |
|
2024 |
| Number |
Number |
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Average number of persons employed by the company |
6 |
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6 |
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| 4 |
Tangible fixed assets |
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Fixtures & Fittings |
| £ |
|
Cost |
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At 1 January 2025 |
150,607 |
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Additions |
9,047 |
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At 31 December 2025 |
159,654 |
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Depreciation |
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At 1 January 2025 |
149,891 |
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Charge for the year |
2,661 |
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At 31 December 2025 |
152,552 |
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Net book value |
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At 31 December 2025 |
7,102 |
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At 31 December 2024 |
716 |
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| 5 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
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Project Debtors |
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|
184,000 |
|
60,544 |
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Other debtors |
1,470 |
|
52,115 |
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|
185,470 |
|
112,659 |
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| 6 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
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Bank loans and overdrafts |
27 |
|
25 |
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Grants in advance |
520,718 |
|
387,243 |
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Annual funding in advance |
30,000 |
|
30,000 |
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Project Monies due to Other Partners |
83,522 |
|
- |
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Accruals |
59,484 |
|
49,037 |
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Other creditors |
1,499 |
|
541 |
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|
695,250 |
|
466,846 |
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| 7 |
Financial instruments |
2025 |
|
2024 |
| £ |
£ |
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Debt instruments measured at amortised cost: |
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- Trade debtors (note 5) |
184,000 |
|
60,544 |
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- Other debtors (note 5) |
1,470 |
|
52,115 |
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|
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|
185,470 |
|
112,659 |
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Financial liabilities |
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Measured at amortised cost |
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- Bank loans and overdraft (note 6) |
27 |
|
25 |
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- Grants in advance (note 6) |
520,718 |
|
387,243 |
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- Annual funding in advance (note 6) |
30,000 |
|
30,000 |
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- Project Monies due to Other Partners (note 6) |
83,522 |
|
- |
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- Other creditors (notes 6) |
1,499 |
|
541 |
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|
635,766 |
|
417,809 |
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| 8 |
Amortisation of Grants |
2025 |
|
2024 |
| £ |
£ |
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At 1 January |
716 |
|
11,854 |
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Grants received for FA Additions |
9,047 |
|
- |
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Charged to profit and loss account |
(2,661) |
|
(11,138) |
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At 31 December |
7,102 |
|
716 |
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Grants that are received and utilised to acquire fixtures and fittings are initially amortised and then released against the resultant depreciation. This recognises that the initial expenditure will have benefits over the useful lifetime of the acquired asset. This is in line with the depreciation policy of fixture and fittings. |
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| 9 |
Events after the reporting date |
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There were no events since the balance sheet date which would necessitate a change in the above figures. |
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| 10 |
Capital commitments |
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There were no capital commitments at the year end. |
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| 11 |
Pension commitments |
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The company has a money purchase scheme in operation for some of its employees. The funds are managed externally from the company by Royal London Pension. In the year ended 31 December 2025, the company made contributions of behalf of employees totalling £66,501 (2024: £70,942). |
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| 12 |
Contingent liabilities |
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There were no contingent liabilities at the year end. |
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| 13 |
Related party transactions |
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All related party transactions in the year ended 31 December 2025, were conducted on normal business terms. |
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| 14 |
Controlling party |
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The grouping of bodies identified in the turnover accounting policy note above have been identified as the controlling parties of the company. Control is exercised through Board representation. |
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| 15 |
Projects |
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During the year ended 31 December 2025, East Border Region Ltd was in receipt of monies in relation to financial and non-financial management services provided for projects undertaken under the Interreg SEUPB programme. |
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| 16 |
Other information |
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East Border Region Limited is a company limited by guarantee and incorporated in Northern Ireland. Its registered office is: |
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2 Monaghan Court |
|
Newry |
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Co. Down |
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BT35 6BH |
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The company has no share capital. In the event of the company being wound up with debts outstanding, each member has guaranteed to pay into the company a sum of money not exceeding £1. |