REGISTERED NUMBER: NI020441 (Northern Ireland)

CIDO (Management) Limited

Financial Statements

for the Year Ended 31 March 2026

Page

Company information

1

Statement of financial position

2

Notes to the financial statements

3

to

6

Directors:

Mr M F Bell

Mr J Blane

Mrs A E Mawhinney

Mr J P Hagan

Mrs E Mcclurg

Registered office:

I2 CIDO Innovation Centre

73 Charlestown Road

Portadown

Co Armagh

BT63 5PP

Registered number:

NI020441 (Northern Ireland)

Auditors:

Wylie Ruddell

Statutory Auditor

Chartered Accountants

Armagh Business Centre

2 Loughgall Road

Armagh

BT61 7NH

Solicitors:

Thompson Mitchell

12-14 Mandeville Street

Portadown

Co Armagh

BT62 3NZ

Current assets

Receivables

4

2

1,183

Cash at bank

76,521

531

76,523

1,714

Payables

Amounts falling due within one year

5

(867

)

-

Net current assets

75,656

1,714

Total assets less current liabilities

75,656

1,714

Capital and reserves

Called up share capital

6

2

2

Retained earnings

75,654

1,712

Shareholders' funds

75,656

1,714

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

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 August 2026 and were signed on its behalf by:

Mr M F Bell - Director

1.	Statutory information

CIDO (Management) Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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

Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. There have been no critical accounting judgements or estimates in applying the company's accounting policies.

Taxation

Taxation for the year comprises current and deferred tax. The company applies paragraphs 29.14A and 29.22A of FRS 102 and, where it is probable that the taxable profits will not be subject to corporation tax as they will be paid over to the parent charity within nine months of the year end, the tax effects of the gift aid payment are recognised in the Statement of Income and Retained Earnings in the reporting period in which the profits arise.

Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

In line with FRS 102 paragraph 29.14A a deferred tax liability shall not be recognised in relation to a gift aid payment where it is probable that the payment will be made to a member of the charitable group within nine months of the reporting date.

Revenue

Revenue comprises the invoiced valued of goods and services supplied by the company, exclusive of trade discounts and value added tax. Revenue is recognised monthly over the period of occupancy by tenants.

Receivables

Short term receivables are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments:

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances and amounts owed by related parties are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and amounts owed to related parties 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 receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

(iii) Offsetting

Financial assets and liabilities are offset and 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.

Payables

Short term payables are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Gift aid payment to parent charity

The company pays all its taxable profits for the reporting period to its parent charity under the gift aid scheme however at the reporting date there was no legal obligation in place for the company to make this gift aid payment. The Board have indicated its intention to pay the taxable profits to the parent charity in respect of the reporting period and this payment will be made within 9 months of the reporting date.

These gift aid payments are recognised as distributions to owners in equity within retained earnings.

3.	Employees and directors

The average number of employees during the year was 5 (2025 - 4 ) .

4.	Receivables less than one year

2026

2025

£

£

Trade receivables

2

1,183

5.	Payables less than one year

2026

2025

£

£

Payments received on account

867

-

6.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

2

Ordinary

2

2

2

7.	Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the auditors was unqualified.

David Ruddell (Senior Statutory Auditor)

for and on behalf of Wylie Ruddell

8.	Contingent liabilities

The company is party to a cross guarantee arrangement with its parent company and a fellow subsidiary in respect of bank borrowings of the three companies. In the opinion of the directors no loss is expected to arise as a result of this guarantee.

9.	Capital commitments

The company had no material capital commitments at the year ended 31 March 2026 (2025: £nil).

10.	Related party transactions

The company has availed of the exemption under FRS 102 in relation to the disclosure of transactions with group companies.

11.	Parent and ultimate parent company

The directors regard Craigavon Industrial Development Organisation, a company registered in Northern Ireland, as the ultimate parent company and the controlling party. The address of Craigavon Industrial Development Organisation is i2 CIDO Innovation Centre, 73 Charlestown Road, Portadown, BT63 5PP. The parent of the largest group in which the results are consolidated is Craigavon Industrial Development Organisation.