Workspace (Draperstown) Limited
Latest income
£9.4m
Latest spending
—
Accounts read
FY2025
Financial health, per FY2025 accounts
The accounts state that the Group generated a surplus of £502,216 for the year ended 31 March 2025, with total income of £9,371,084. The Trustees report that unrestricted funds currently hold approximately four months of reserves, which is below their stated policy target of six months of annual running costs. The auditors confirmed that the use of the going concern basis of accounting is appropriate with no material uncertainties identified.
What the accounts disclose
Reserves position: below the charity's own stated policy
“At the moment the charity has approximately 4 months reserves and the Trustees recognise that this will require the building up of reserves over the next few years.” — page 8
Per FY2025 accounts as filed with CCNI.
Related-party transaction: The Group and the Company has taken advantage of the exemption under FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' not to disclose transactions with entities that are part of the group.
“The Group and the Company has taken advantage of the exemption under FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” not to disclose transactions with entities that are part of the group.” — page 31
Per FY2025 accounts as filed with CCNI.
Employees paid over £60,000: 0
Per FY2025 accounts as filed with CCNI.
Largest income source: none
“The Trustees did not receive or waive any right to, emoluments in the year ended 31 March 2025 or the year ended 31 March 2024.” — page 24
Per FY2025 accounts as filed with CCNI.
Independent examiner: ASM (M) Ltd
Per FY2025 accounts as filed with CCNI.