Charity Registration No. NIC 100006
Company Registration No. N1054558 (Northern I￿land)
LAGAN VALLEY RURAL TRANSPORT
ANNUAL REPORT AND FINANCIAL STATEMENTS
(CHARITABLE COMPANY LIMITED BY GUARANTEEI
FOR THE YEAR ENDED 31 MARCH 2023

LAGAN VALLEY RURAL TRANSPORT
CONTENTS
Page
Charity reference and administrative information
Trustees, report
Independent auditors report
Statement of financial activities
Balance sheet
10
Notes to the financial statements
11-24

LAGAN VALLEY RURAL TRANSPORT
CHARITY REFERENCE AND ADMINISTRATIVE INFORMATION
Trustees
Mr J E McQuillan
Mr M O'Neill
Mrs J Irvine
Mrs C Preston
Mr R Harvey
(Appointed 10 November 2022)
(Appointed 31 October 2022)
(Appointed 31 October 2022)
Senior Management Team
Mrs T Mcmillan
Charity number
NIC 100006
Company number
N1054558
Registered with The Charity
Commission for Northern Ireland
NIC100006
Registered office
Units 1-6 PRM Complex
Rathdown Road
Moira Road
Lisburn
BT28 2RE
Auditor
Johnston Kennedy DFK
Chartered Accountants
Ground Floor
Block A. The Sidings
Antrim Road
Lisbum
BT28 3AJ
Bankers
AIB (NI)
34 - 36 Market Square
Lisbum
Co. Antrim
BT28 1AG
Solicitors
Mildred Breakey
52 Bachelors Idvalk
Lisbum
Co. Antrim
BT28 1XN

LAGAN VALLEY RURAL TRANSPORT
TRUSTEES. REPORT (INCORPORATING THE DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2023
The trustees, who are also the directors for the purposes of company law, present their annual report and
financial statements for the year ended 31 March 2023.
The financial statements have been prepared in aC￿rdance with the accounting policies set out in note 1 to the
financial statements and comply with the charity's Memorandum and Articles of Association, 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 Stsndard applicable in the UK and Republic
of Ireland (FRS 102} (effective 1 January 2019)"
Objectives and activities
The charity exists to provide rural transportation Se￿ices.
The charity aims to provide transport facilities in Lisbum and its environs, for the people who have special need
of such facilities, because they are elderly. poor or disabled. people vrfith small children of those living in isolated
areas where there are no adequate transport facilities.
The trustees have paid due regard to guidan￿ issued by the Charity Commission in deciding what activities the
charity should undertake.
Public benefit
In line with its ststed aims and objectives. as noted above. the trustees are confident that the charity is
undertaking activities which provide public benefit to those vtho avail of its setvices.
Achievements and perfomiance
Funding has been received from various bodies throughout the period to facilitate the provision of services.
The charity's principal funders are..
1. Department for Infrastructure
2. Disability Action
3. Lisburn & Castlereagh City Council
The financial statements reflect a successful year, generating a small surplus, which has been credited to
reserves. The trustees are satisfied Y￿th the charity's results and will continue to capitalise on their current
activities for the foreseeable future.
The trustees are satisfied that all grants, including the grants provided by the Department for Infrastructure
through the Rural Transport Fund and Assisted Rural Transport Scheme, have been used solely for the purposes
intended and in accordan￿ with each of the temis and conditions of the grants.
During the financial year, the charity made 2,240 individual passenger trips under the Dfl Rural Dial a Lift
Scheme, covering a total of 27.009 miles. Of these trips. 65 % were made by passengers going shopping or
social visiting, therefore having a major impact on their wellbeing. while also reducing social isolation. 13 % of the
journeys were used for Health, 1 OA of the joumeys were used for Social Welfare, 20/D of the journeys were used
for Training and Employment, while 70￿ were used for Day Opportunities. The operational area for the scheme is
the entire Rural Lagan Valley area, stretching Dundrod, Stoneyford. Moira, Dromore, Hillsborough, Annahilt,
Carryduff and into Moneyreagh. Our Group Hire completed 886 passenger trips, 85010 of which were for
Recreational and social activities. Furthemore, the charity made just over 2,450 trips under the Disability Action
Transport Scheme (DATS). Of these trips. 280A were for Shopping or Social visits, 130h for Training and
Employment, 100/0 for Health and 350/0 for Day Opportunities. The operational area for DATS covers Lisburn and
Dunmurry, along with Dundonald. Comber and Downpatrick.
Use of volunteers
The charity utilises Ihe services of volunteers. The trustees acknowledge that all volunteers contribute to the
success of the charity's activities.

LAGAN VALLEY RURAL TRANSPORT
TRUSTEES. REPORT (INCORPORATING THE DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Financial review
The results for the year are set out on pages 9 to 24. The charity generated a net unrestricted surplus for the
year of £5,338 {2022.' net unrestricted surplus of £2.022). The level of free reserves at 31 March 2023 amounted
to £215,281 (2022. £209,943).
The trustees have developed a reserves policy in order to protect the company against unforeseen
circumstances. This policy states that the company wll seek to build sufficient financial reserves to provide for six
months activities in order that the charity's ability to deliver se￿I￿S and develop the charity in the manner
planned can be achieved without a negative impact. The financial results for the year are encouraging and the
level of retained reserves ensure that this objedive has been achieved.
Structure, governance and management
The charity is a company limited by guarantee. govemed by its Memorandum and Articles of Association. It has
been granted charitable status by The Charity Commission for Northem Ireland under registration number
NICIOOOO6.
The charity is governed by its trustees who meet between eight and ten times annually to discuss financial and
strategic issues, policy and pro￿dure decisions, and to ratify significant legally binding decisions.
Mrs Tina Mcmillan, company manager. is responsible for the day to day running of the charity.
The trustees, who are also the directors for the purpose of company law, and who seNed during the year and up
to the date of signature of the financial statements were-.
Mr J E McQuillan
Mr M Busch
Mr J Scott
Mrs N Atshar
Mr M O'Neill
Mrs K Weekes
Mrs J Irvine
Mrs C Preston
Mr R Harvey
(Resigned 2 May 2023)
(Resigned 31 October 20221
(Resigned 25 January 20231
(Resigned 31 October 2022)
(Appointed 10 November 2022)
(Appointed 31 October 2022)
(Appointed 31 October 2022)
If appropriate, new trustees are invited onto the Board when the need arises. There are no specific requirements
regarding skills or experience. However. the current trustees recognise the importance of a diverse and
competent Board and Ihis will impact upon any nomination. Those who are invited will be involved with Lagan
Valley Rural Transport and will be held in high regard for their work.
New trustees receive appropriate induction prO￿dureS and training upon appointment.
No trustees receive any remuneration for their services.
Going con¢em
The financial statements have been prepared under the assumption that the charity will continue to operate as a
going concem. As a result of the surplus retumed this year, the charity's rese￿eS have increased. The trustees
are confident that the charity retains sufficient reserves to enable its continued operation for the forseeable
future. Additionally, the trustees are constantly reviewng the operations in order to ensure it retains sufficient
reseNes to maintain its operations. On this basis, the trustees believe it is appropriate to prepare the financial
statements on a going concern basis.

LAGAN VALLEY RURAL TRANSPORT
TRUSTEES. REPORT (INCORPORATING THE DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Statement of trustees. responsibilities
The trustees, who are also the directors of Lagan Valley Rural Transport for the purpose of company law, are
responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law
and United Kingdom Accounting Standards (United Kingdom Generally AC￿pted Accounting Practice}.
Company Law requires the trustees to prepare financial statements for each financial year which give a true and
fair view of the state of affairs of the charity and of the incoming reSoUr￿S and application of resources, including
the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the twstees are required to:
select suitable accounting policies and then appty them consistently-
observe the methods and principles in the Charits"es SORP;
make judgements and estimates that are reasonable and prudent.,
state whether applicable accounting standards have been followed. subject to any material departures
disclosed and explained in the financial statements-
state whether applicable UK Accounting Standards have been followed. subject to any material departures
disclosed and explained in the financial statements., and
prepare the financial statements on the going con￿rn basis unless it is inappropriate to presume that the
charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose wth reasonable accuracy at
any time the financial F)OSition of the charity and enable them to ensure that the financial statements comply with
the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for
taking reasonable steps for the prevention and detection of fraud and other irregularities.
Auditor
In accordance with section 485 of the Companies Act 2006, a resolution proposing that Johnston Kennedy DFK
be reappointed as auditors of the charity will be put to the forthcoming Annual General Meeting.
Disclosure of infomiation to Auditor
Each of the trustees has confimied that there is no infomiation of which they are aware which is relevant to the
audit, bul of which the auditor is unaware. They have further confimied that they have taken appropriate steps to
identify such relevant information and to establish that the auditor is aware of such information.
Special Provisions Relating to Small Companies
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006
relating to small Companies.
The twstees. report was approved by the Board of Trustees.
Mr M O'Neill
Trustee
Date:.........................

LAGAN VALLEY RURAL TRANSPORT
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF LAGAN VALLEY RURAL TRANSPORT
Opinion
We have audited the financial statements of Lagan Valley Rural Transport (the 'charity') for the year ended 31
March 2023 which comprise the statement of financial activities. the balance sheet and notes to the financial
statements, including significant accounting policies. The financial reporting framework that has been applied in
their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting
Standard 102 The Financial Reporting Standanl applicable in the UK and Republic of irpland (United Kingdom
Generally Accepted Accounting Practi￿).
In our opinion, the financial statements-
give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its
incoming resources and application of resources. for the year then ended..
have been properfy prepared in accordance with United Kingdom Generally Accepted Accounting Practice:
and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS IUK)} and applicable
law. Our responsibilities under those standards are further described in the Auditors responsibilities ft)r the audit of
the financial statements section of our report. We are independent of the charity in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audit evidence we have obtained is suffiaent and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have conduded that the trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfomied, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively. may cast significant doubt on the charity's ability to continue as a going
concem for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees wth respect to going concern are described in the
relevant sections of this report.
Other information
The other information comprises the infomiation included in the annual report other than the financial statements
and our auditor's report thereon. The trustees are responsible for the other infomiation contained within the annual
report. Our opinion on the financial statements does not cover the other infomiation and we do not express any form
of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider
whether the other information is materially inconsistent wth the financial statements or our knowledge obtained in
the course of the audit, or otherwise appears to be materially misststed. If we identify such material inconsistencies
or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement
in the financial statements themselves. If, based on the work we have performed. we conclude that there is a
material misststement of this other infomiation, we are required to report that fact.
We have nothing to report in this regard.

LAGAN VALLEY RURAL TRANSPORT
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF LAGAN VALLEY RURAL TRANSPORT
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit..
the information given in the trustees, report for the financial year for which the financial statements are
prepared, which includes the directors. report prepared for the purposes of company law, is consistent with the
financial statements., and
the directors, report included within the trustees, report has been prepared in accordance with applicable legal
requirements.
Matters on which we are required to report by exception
In the light of the kno￿edge and understsnding of the charity and its environment obtained in the course of the
audit, we have not identified material misstatements in the directors, report induded within the trustees, report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to
you if, in our opinion..
sufficient accounting records have not been kept: or
the financial statements are not in agreement v4ith the accounting records., or
certain disclosures of trustees. remuneration specified by law are not made; or
we have not received all the infomation and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the statement of trustees, responsibilities, the trustees, who are also the directors of the
charity for the purpose of company law. are responsible for the preparation of the financial statements and for being
satisfied that they give a true and fair view, and for such intemal control as the trustees determine is necessary to
enable the preparation of financial statements that are free from material misstatement, whether due to fraud or
error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a
going concern, disclosing, as applicable, matters related to going concem and using the going concem basis of
accounting unless the Irustees either intend to liquidate the d)aritsble company or to cease operations, or have no
realistic alternative but to do so.
Auditorfs responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whelher due to fraud or error, and to issue an auditorfs report that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance
th ISAS (UK} will always detect a material misstatement vthen it exists. Misstatements can arise from fraud or
error and are considered material if, individually or in the aggregate, they ￿vId reasonably be expected to influence
the economic decisions of users taken on the basis of these financial statements.

LAGAN VALLEY RURAL TRANSPORT
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF LAGAN VALLEY RURAL TRANSPORT
Irregularities, including fraud, are InStan￿S of non-compliance with laws and regulations. We design procedures in
line with our responsibilities. outlined above. to detect material misstatements in respect of l￿egUlarl11es, including
fraud. The extent to which our prO￿dureS are capable of detecting irregularities, including fraud, is detailed below.
the nature of the activities and sector. control environment and performan￿.
results of our enquiries of management about their own identification and assessment of the risks of
irregularities.,
any matters we identified having obtained and reviewed the charitable company's documentation of their
policies and procedures relating to..
identifying, evaluating and complying with laws and regulations and whether they were aware of
any instances of non-compliance.,
detecting and responding to the risks of fraud and vh)ether they have knowledge of any actual,
suspected or alleged fraud.,
the internal controls established to mitigate risks of fraud or non-compliance with laws and
regulalions-
the matters discussed among the audit engagement team and relevant internal specialists where
necessary regarding how and where fraud might occur in the financial statements and any potential
indicators of fraud.
As a result of these procedures. we considered the opportunities and incentives that may exist within the
organisation for fraud. In common with all audits under ISAS (UK), we are also required to perform specific
procedures to respond to the risk of management override.
We also obtained an understanding of the legal and regulatory frameworks that the charitable company operates in,
focusing on provisions of those laws and regulations that had a direct effect on the determination of material
amounts and disclosures in the financial statements. The key laws and regulations we considered in this context
included the Companies Act 2006, the Charities Act (Northem Ireland) 2008 and Taxation Legislation.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial
statements but compliance with which may be fundamentsl to the charitable company's ability to operate or to avoid
a material penalty.
As a result of performing the above our prO￿dureS to respond to risks identified included the following..
reviewing the financial statement disdosures and testing to supporting documentation to assess
compliance with provisions of temis of funding. relevant laws and regulations described as having a direct
effect on the financial statements-
enquiring of management concerning actual and potential litigation and claims
perfomiing analytical procedures to identify any unusual or unexpected relationships that may indicate risks
of material misstatement due to fraud.,
reading minutes of meetings of those charged with governan￿ and reviewing correspondence with
HMRC;and
in addressing the risk of fraud through management override of controls, testing the appropriateness of
journal entries and other adjustments- assessing whether the judgements made in making accounting
estimates are indicative of a potential bias., and evaluating the business rationale of any significant
transactions that are unusual or outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team
members, including internal specialists, and remained alert to any indications of fraud or non-compliance with laws
and regulations throughout the audit.
A further description of our responsibilities is available on the Financial Reporting Council's website at.. https=Il
www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report.

LAGAN VALLEY RURAL TRANSPORT
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF LAGAN VALLEY RURAL TRANSPORT
Use of our report
This report is made solely to the charity members. as a body. in accordance with Chapter 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we might state to the charity members those
matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent
permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity
members as a body, for our audit work. forthis report. or for the opinions we have formed.
James Gage (Senior Statutory Auditor
for and on behalf of:
Johnston Kennedy DFK
Chartered Accountants
Statutory Auditor
Ground Floor
Block A, The Sidings
Antrim Road
Lisburn
BT28 3AJ
Date:.........................

LAGAN VALLEY RURAL TRANSPORT
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
Unrestricted Dfi Restricted
Other
Restricted
funds
2023
Total
Total
funds
2023
funds
2023
2023
2022
Notes
Income and endowments from:
Donations and legacies
Charitable activities
Investments
Other income
143.119
721
18,720
107,740
161,839
113,001
798
5,940
221,468
117.643
28
4.540
798
5,940
Total income
5,338
143,840
132,400
281,578
339,139
enditure on:
Charitsble activities
147,455
132,400
279,855
243,899
Net incoming resources before
transfers
5.338
(3,615)
1,723
95,240
Net income for the yearl
Net movement in funds
5.338
(3,615)
1,723
95.240
Fund balances at 1 April 2022
209,943
22,540
70,678
303,161
207,921
Fund balances at 31 March 2023
215,281
18,925
70,678
304,884
303,161
Statement of comprehensive income
There is no other comprehensive income to report for the finanaal year.
Continuing operations
The Statement of Financial Activities has been prepared on the basis that all operations are continuing operations.
Historical Cost
The results as disclosed in the statement of financial activities and the net incoming resources for the year have
been presented on an historical cost basis.
Comparatives
The comparative amounts by fund have been disdosed in notes 3 , 4 and 7.
The notes on pages 11 to 24 fomi part of these financial statements

LAGAN VALLEY RURAL TRANSPORT
BALANCE SHEET
AS AT 31 MARCH 2023
(As re-stated)
2022
2023
Notes
Fixed assets
Tangible assets
12
43.336
57.657
Current assets
Debtors
Cash at bank and in hand
13
45,635
269,689
59,165
252,108
315,324
311,273
Creditors: amounts falling due within
one year
14
(53.776)
(65.769)
Net current assets
261.548
245.504
Total assets less cur￿nt liabilities
304,884
303,161
Income funds
Other Restricted funds
Dfl Restricted funds
Unrestricted funds
16
16
17
70,678
18,925
215,281
70,678
22,540
209,943
Total funds
304,884
303,161
These 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 Trustees and authorised for issue on ......................... and signed on
its behalf by..
Mr M O'Neill
Trustee
Mrs C Preston
Trustee
Company Registration No. N1054558
Charity Registration No. NIC 100006
The notes on pages 11 to 24 fomi part of these financial statements
10-

LAGAN VALLEY RURAL TRANSPORT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Accounting policies
Charity information
Lagan Valley Rural Transport is a private company limited by guarantee incorporated in Northem Ireland. The
registered office is Units 1-6 PRM Complex, Rathdown Road, Moira Road, Lisburn, BT28 2RE.
1.1 Basis of preparation
The financial statements have been prepared in accordan￿ with the charity's Memorandum and Articles of
Association, 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)" The
charity is a Public Benefit Entity as defined by FRS 102.
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. The principal accounting
policies adopted are set out below.
1.2 Going ¢on¢em
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 concem basis of accounting in preparing the financial statements.
1.3 Fund Accounting
The charity has different types of funds for which it is responsible, and which require separate disclosure.
These are as follows..
(a) Restricted funds - Funding received which can only be used for a specific purpose as determined by the
funder. Such purposes are within the overall aims of the organisation and are set out in the notes to the
financial statements.
(b) Unrestricted funds - Funds which are expendable at the discretion of the directors in the futherance of the
objectives of the charity. In addition the funds may be held in order to finance capital investment and working
capital.
1.4 Income and expenditure
Income is recognised when the charity is legally entitled to il after any performance conditions have been met,
the amounts can be measured reliably, and it is probable that income will be received. All income arose wholly
in the United Kingdom.
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate
all costs related to the category. The majority of costs are directly attributable to charitable activities. Where
costs cannot be directly attributed to particular headings they have been allocated to charitable activities on a
basis consistent with use of the reSoUr￿s. Staff costs and overhead expenses are allocated to activities on
the basis of staff time spent on those ath'vities.
1.5 Support costs
Support costs are those functions that assist the work of the charity but do not directly represent charitable
activities. Support costs include back office costs, finance. human reSoUr￿s, payroll and governance costs
which support the charity's activities. These costs have been allocated against the expenditure on charitable
activities.
11

LAGAN VALLEY RURAL TRANSPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Accounting policies
{Continued)
1.6 Tangible fixed assets
Tangible fixed assels costing £500 or more are initially measured at cost and subsequently measured at cost
or valuation, net of depreciation and any impaimient 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=
IT Equipment
Motor vehicles
33.33% Straight Line
25% Straight Line
The gain or loss arising on the disposal of an asset is determined as the difference be￿een the sale
proceeds and the carying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
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 impaiment loss. If any such indication
exists, the recoverable amount of the asset is estimated in order to determine the extent of the impaimient
loss {if any).
1.8 Cash and cash equivalents
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.
1.9 Financial instruments
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
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.
12-

LAGAN VALLEY RURAL TRANSPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Accounting policies
{Continued)
Basic financial liabilities
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. Finanaal 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 Se￿iceS 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-￿rrent liabilities. Trade creditors are re￿gnised initially at
transaction pri￿ and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised vthen the charity's contractual obligations expire or are discharged or
cancelled.
1.10 Taxation
The company is a registered charity and is not liable to tax on funds generated from activities within the scope
of the charitable exemptions.
1.11 Employee benefits
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 temiination benefits.
1.12 Retirement benefits
The charity operates a defined contribution pension scheme which is a pension plan under which fixed
contributions are paid into a pension fvnd and the charity has no legal or constructive obligation to pay further
contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to
employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they
are due. If contribution payments exceed the contribution due for service, the excess is recognised as a
prepayment.
1.13 Hire purchase and finance leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and
rewards of ownership to the lessees. All other leases are dassified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of
inception and the present value of the minimum lease payments. The related liability is included in the
balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest
elements. The interest is charged to net incomel{expenditure) for the year so as to produce a constant
periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, induding any lease incentives re￿ived. are charged as an expense
on a straight line basis over the temi of the relevant lease.
13-

LAGAN VALLEY RURAL TRANSPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Accounting policies
{Continued)
1.14 Government grants
Government grants are recognised based on the accruals model and are measured at the fair value received
or receivable. Grants are classified as relating either to revenue or assets. Grants relating to revenue are
recognised in income over the period in which the related expenditure is incurred. Grants towards capital
expenditure are credited to deferred income and released as income over the expected useful life of the
assets.
Critical accounting estimates and judgements
In the application of the charitys accounting policies, the trustee5 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
perrod, or in the period of the revision and future periods where the revision affects both current and future
periods.
14-

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4 V

LAGAN VALLEY RURAL TRANSPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Investments
Unrestricted Unrestricted
funds
funds
2023
2022
Interest receivable
798
28
Other income
Restricted
funds
Restricted
funds
2023
2022
Net gain on disposal of tangible fixed assets
5,940
17-

LAGAN VALLEY RURAL TRANSPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Expenditure on charitable activities
Dll Restricted
Funds
Other Unrestricted
Restricted
Funds
Funds
Total
Total
2023
2023
2023
2023
2022
Transport Costs
Employment costs
Staff Training
Postage & Stationery
ICT Costs
Travel Expenses
Clothing Costs
General Expenses
Telephone
Professional Fees
Premises Costs
Insurance
Heat & Light
Repairs & Renewals
Membership Fees
Bank Fees
Depreciation
23,103
80,531
512
1,756
2,800
45.625
55.339
68,728
135,870
512
1,756
6,241
7,264
187
3,769
2,975
6,374
13,218
1,103
5,676
1,519
535
636
20,630
64.552
111.948
166
2,159
4,244
4,549
547
2,980
3,244
2,371
14,315
1,077
3,121
3,441
7,264
186
3,769
2,975
1,215
7,218
5,159
6,000
1,103
1,256
4.420
1.519
535
571
536
22.775
636
19,108
1.522
145,919
131,074
276,993
241,199
Analysed between:
Charitable activities
Support costs
257,693
19,300
224,208
16,991
276,993
241,199
Share of governance costs (see note 8)
1,536
1.326
2,862
2.700
147,455
132.400
279,855
243.899
18-

LAGAN VALLEY RURAL TRANSPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Governance costs
Governance
costs
2023
2022
Audit fees
2,862
2,862
2,700
Analysed be￿een
Charitable activities
2,862
2,862
2,700
Governan￿ costs includes payments to the auditors of £2.862 (2022- £2.700) for audit fees.
Net movement in funds
2023
2022
Net movement in funds is stated after chargingl(crediting)
Fees payable to the company's auditor for the audit of the company's financial
statements
Depreciation of owned tangible fixed assets
Profit on disposal of tangible fixed assets
2,862
20,630
(5,940)
2.700
22.775
10 Trustees
None of the trustees (or any persons connected viith them) received any remuneration from the charity during
the year.
None of the trustees re￿iVed any reimbursed expenses or any other benefits from the charity during the year.
11 Employees
The average monthly number of employees (including senior management team) during the year was..
2023
Number
2022
Number
Charitable activies
Employment costs
2023
2022
Wages and salaries
Social security Costs
Pension costs
127,245
6,604
2,021
105.548
4,756
135,870
111,948
No employees re￿iVed emoluments of £60.000 or more during the current or previous year.
19-

LAGAN VALLEY RURAL TRANSPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
12 Tangible fixed assets
rr Equipment Motor vehicles
Total
Cost
At 1 April 2022
Additions
Disposals
201,627
201,627
6.309
{45.200)
6.309
(45.200)
At 31 March 2023
6,309
156,427
162,736
Depreciation and impaimient
At 1 April 2022
Depreciation charged in the year
Eliminated in respect of disposals
143,970
19,108
(45,200)
143,970
20,630
{45,200)
1,522
At 31 March 2023
1,522
117,878
119,400
Carrying amount
At 31 March 2023
4,787
38,549
43,336
At 31 March 2022
57.657
57.657
13 Debtors
2023
2022
Amounts falling due within one year:
Charitable activity debtors
Prepayments and accrued income
Other debtors
10,128
14,508
20,999
9,845
26,440
22,880
45,635
59,165
14 Creditors: amounts falling due within one year
2023
2022
Notes
Deferred income
Operating creditor
Other taxation and social security
Accruals and other creditors
15
38,216
5,869
5,876
3,815
57,324
3,577
2,165
2,703
53,776
65,769
-20-

LAGAN VALLEY RURAL TRANSPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
15 Deferred income
2023
2022
Deferred funding
38,216
57,324
During the year ended 31 March 2022, a restricted grant was received under the Dfl BluelGreen
Infrastructure Funding Programme for the purchase of an electric vehicle, charging point and associated civil
works. This grant has been credited to deferred income and is being released to the Statement of Financial
Activities over the expected useful life of the related asset.
16 Restricted funds
Balance at
1 April 2022
Incoming
resources
Resources
expended
Transfers
Balance at
31 March 2023
other Restricted funds
Dfl Restricted funds
70,678
22,540
132,400
143,840
(132,400)
(147,455)
70,678
18,925
Total restricted funds
93,218
276,240
(279,855)
108,528
17 Unrestricted income funds
Balan￿ at
1 April 2022
Incoming
resources
Resour
expended
Transfers
Balance at
31 March 2023
Unrestricted funds
209,943
5,338
215,281
21

LAGAN VALLEY RURAL TRANSPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
19 Analysis of net funds
At 1 April
2022
Financing At 31 March
cash flows
2023
Cash at bank and in hand
252,108
17,581
269,689
20 Capital commitments
The company had no capital commitments as at 31 March 2023.
21 Non-audit service provision
In common with many other charities of our size and nature we use our auditors to assist with the preparation
of the financial statements.
22 Related party transactions
During the year the charity made the followng related party transactions..
Lagan Regional Transport CIC
(The charity shares some common directors with Lagan Regional Transport CIC (LRT)).
In 2012, the Board decided to obtain a Private Bus Operators Licence. As a result of the funding restrictions
within the charity, this had to be achieved via another company. Accordingly Lagan Regional Transport CIC
(LRT) was created, a company which shares some common directors with the charity. An initial loan of
£15,000 was made to LRT, to ensure that it complied with the required financial resources necessary to
launch the company. Additional sums have been paid, in the intervening years, on the company's behalf. The
loan is made on an interest free basis and is unsecured. At the balance sheet date the amount due from
Lagan Regional Transport CIC was £20.999(2022: £20.321). This amount is included y￿thin other debtors due
within one year.
23 Trustees, liability
Lagan Valley Rural Transport is a private company limited by guarantee and consequently does not have
share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of
the charity in the event of liquidation.
24 Control
The charity is controlled by the trustees who are all directors of the company.
-23-

LAGAN VALLEY RURAL TRANSPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
25 Previous year comparative
The previous year comparatives (31 March 2022) have been re-stated in line with fvnder requests.
Fund balances Fund balances
before
after
Other Restricted funds
Dfi Restricted funds
Unrestricted funds
17,616
10,476
275,069
70.678
22,540
209,943
303,161
303,161
The total fund balances at 31 March 2022 remain unchanged.
-24-