Charity Registration No. NIC 100006
Company Registration No. N1054558 {Northern Ireland}
LAGAN VALLEY RURAL TRANSPORT
ANNUAL REPORT AND FINANCIAL STATEMENTS
(CHARITABLE COMPANY LIMITED BY GUARANTEEI
FOR THE YEAR ENDED 31 MARCH 2025

LAGAN VALLEY RURAL TRANSPORT
CONTENTS
Page
Charity reference and adminislralive infomiation
Trustees, report
Independent auditorfs report
Statement of financial activities
Balance sheet
10
Notes to the financial statements

LAGAN VALLEY RURAL TRANSPORT
CHARITY REFERENCE AND ADMINISTRATIVE INFORMATION
Trustees
Mr M O'Neill
Mrs C Preston
Mr R Harvey
Mr G Hendrie
Mr N Kelly
MrA J Corscadden
Mrs E Finney
MSKR Ward
(Appointed 23 October 20241
(Appointed 23 October 20241
(Appoinled 23 October 2024)
Charity number
NIC 100006
Company numbor
N1054558
Registered with The Charity
Commission for Northern Ireland
NIC100006
Senior Management Team
Richard Doughety
Reglstsred office
Units 1-6 PRM Complex
Ralhdown 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)
33 - 35 University Road
Belfast
8T7 1ND
Solicltors
Mildred Breakey
52 Bachelors Walk
Lisburn
Co. Antrim
BT28 1XN

LAGAN VALLEY RURAL TRANSPORT
TRUSTEES, REPORT (INCORPORATING THE DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 MARCH 2025
The trustee5, who are also the directors for the purposes of company law, present their annual report and
financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policie5 set out in nole 1 to the
financial slatemenls 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 Standard applicable in the UK and Republic
of Ireland {FRS 102) (effeciive 1 January 2019)"
Objectives and activities
The charity exists to provide rural transportation services.
The charity aims lo provide transport facilities in Lisburn and its environs, for the people who have special need
of such facilities, because they are elderly, poor or disabled. people with small children or those living in isolated
areas where there are no adequate transport facilities.
The Iruslees have paid due regard to guidance issued by the Charity Commission in deciding what activities the
charity should undertake.
Public benefit
In line with its stated aims and objectives, as noled above, the Iru5tees are confident that the charity is
undertaking aclivities which provide public benefit to those who avail of its services.
Achievements and performance
Funding has been received from various bodies throughout the period lo facilitate the provision of services.
The charity's principal funders are..
1. Department for Infrastructure
2. Disability Action
3. Lisburn & Castlereagh City Council
During the financial year, the charity made 3,262 individual passenger Irips under the Dfl Rural Dial a Lift
Scheme. coveting a total of 35,129 miles. Of these trips, 63°/v were made by passengers going shopping or
social visiting. therefore having a major impact on their wellbeing, while also reducing social isolalion. 150/0 of Ihe
journeys were used for Health, 1°/D of the journeys were used for Social Welfare, 11/*• of the journeys were used
for Training and Employment, while 100/0 were used for Day Opportunities. The operational area for the scheme
is the entire Rura5 Lagan Valley area. stretching to Dundrod, Stoneyford, Moira, Dromore. Hillsborough, Annahilt,
Carryduff and into Moneyreagh. Our Group Hire completed 1,059 passenger Irips, 660/0 of which were for
Recreational and social activities. Furthermore, the charity made just over 3,550 trips under the Disability Action
Transport Scheme (DATS). Of these trips, 26% were for Shopping or Social visits, 10/0 for Training and
Employmenl, 130/0 for Health and 49Q/. for Day Opportunities. The operational area for DATS covers Lisburn and
Dunmurry, along with Dundonald, Comber and Downpatrick.
The Iru51ees 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 accordance with each of the terms and conditions of the grants.
Use of volunteers
The charity utilises the services of volunteers. The trustees acknowledge that all volunteers contribute to Ihe
success of the charity's activities.

LAGAN VALLEY RURAL TRANSPORT
TRUSTEES, REPORT (INCORPORATING THE DIRECTORS, REPORT) {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Financial review
The results for the year are set out on pages 9 to 23. The charity generated a nel unrestricted surplus for the
year of £6,132 12024.. net unrestrided surplus of £12,083}- The level of free reserves at 31 March 2025
amounted to £233.496 (2024.. £227.364). Reslricted funds reflected a nel oufflow for the year of £8,26512024.'
net outflow £27,125).
The trustees havè dèveloped a reserves policy in order to protect the company against unforeseen
circumstances. This policy states that the company will seek to build sufficient financial reserves to provide for six
months activities in order that the charily's ability lo deliver services and develop the charity in the manner
planned can be achieved withoul a negative impacl. The financial results for the year are encouraging and the
level of retained reserves ensure that this objective has been achieved.
Structure, governance and management
The charity is a company limited by guarantee, governed by its Memorandum and Articles of Association. It has
been granted charitable status by The Charity Commis5i0n for Northern Ireland under registration number
NIC100006.
The charity is governed by its trustees who meel be￿een eight and ten limes annually to discuss financial and
strategic issues, policy and procedure decisions, and to ratify signifirAnt legally binding decisions.
Mr Richard Doughety. company manager, is responsible for the day to day running of the charity.
The trustees, who are also the dIre￿or$ for the purpose of company law, and who served during the year and up
to the date of signature of the financial statements were..
Mr J E McQuillan
Mr M O'Neill
Mrs C Preston
Mr R Harvey
Mr G Hendrie
Mr N Kelly
Mr A J Corscadden
Mrs E Finney
MSKR Ward
(Resigned 22 October 2024)
{Appointed 23 October 2024)
{Appointed 23 October 2024)
(Appointed 23 October 2024)
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
ompetenl Board and this 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 Iheir work.
New trustees receive appropriate induction procedures and training upon appointment.
No Irustees receive any remuneration for their services.
Going Goncern
The financial statements have been prepared under the assumption that the charity will continue to operate as a
going concern. As a result of the deficit relumed this year, the charily's reseNes have decreased slightly.
However. the trustees are confident that the charity retains sufficient reseNes to enable its continued operation
for the forseeable future. Additionally, the trustees are constantly reviewing the operations in order to ensure it
retains sufficienl reserves to mainlain its operations. On this basis, the trustees believe it is appropriate to
prepare the financial statements on a going concem basi5.

LAGAN VALLEY RURAL TRANSPORT
TRUSTEES, REPORT (INCORPORATING THE DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
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 slalements in accordance with applicable law
and Uniled Kingdom Accounting Standards (United Kingdom Generally Accepled Accounting Practice).
Company Law requires the trustees lo prepare financial statements for each financial year which give a true and
fair view of the stale of affairs of the charity and of the incoming resources and applicalion of resources, including
the income and expendilure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to..
select suitable accounting policies and Ihen apply them consistently;
observe the methods and principles in the Charities 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-
stale 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 concern 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 with reasonable accuracy at
any time the financial position of the charity and enable them to ensure that the financial slalemenls 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 irregulartlies.
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 pul to the forthcorning Annual General Meeting.
Disclosure of infomiation to Auditor
Each of the trustees has confirmed that there is no informalion of which they are aware which is relevant to the
audit, but of which the auditor is unaware. They have further confirmed 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 lo small companies.
The trustees, report was approved by the Board of Trustees.
Mr M O'Neill
Trustee
Date...2&P￿S..............

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 Tran5POrt (the 'charity') for the year ended 31
March 2025 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 preparalion is applicable law and United Kingdom Accounling Standards, including Financial Reporting
Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom
Generally Accepted Accounting Practice).
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 2025 and of ils
incoming resources and application of resources, for the year then ended.,
have been properly 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 International Standards on Auditing {UK) (ISAS {UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditorfs r&sponsibilitios for th& audit of
the financial statements sedion 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 sufficient and appropriate lo provide a basis for our opinion.
Conclusions relating to going con¢em
In auditing the financial statements, we have concluded 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 performed, 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 trustèes with respect to going concern are described in the
relevant sections of this report.
Other Infomiation
The other information comprises the information included in the annual report other than the financial statements
and our audilorfs report thereon. The trustees are responsible for Ihe other information contained wilhin the annual
report. Our opinion on the financial statemen15 does not cover the other information and we do not express any form
of assurance wnclusion thereon. Our responsibility is to read the other information and, in doing so, consider
whether the other information is materially inconsistent with the financial statements or our knowledge obtained in
the course of the audit, or otherwise appears lo be materially misstated. If we identify such material inconslstencies
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 misstatement of this other information. 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 Ihe Irustees, 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 slalements.. 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 knowledge and underslanding of Ihe charity and its environment obtained in the course of the
audit, we have nol identified material misstatements in the directors, report included within Ihe trustees, report.
We have nothing lo 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 wilh the accounting records.. or
certain disdosures of trustees, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained mole fully in the slalement of trustees, responsibilities, the trustees, who are also the directors of the
¢haTity 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 internal control a5 the trustees determine is necessary to
enable the preparation of financial statements thal are tree from material misstatement. whether due to fraud or
error.
In prepaiing the financial stalemenls, the trustees are responsible for assessing the charity's ability lo continue as a
going concern, disclosing, as applicable, mallers related lo going concern and using the going concern basis of
accounting unless the trustees either inlend to liquidate the charitable company or to cease operations. or have no
realistic alternative but lo do so.
Auditorfs responsibilities for the audit of the financial ststements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
mateiial misstatement, whether 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 nol a guarantee that an audit conducted in accordance
with ISAS (UK) will always delect a material misstatement when it exists. Misstatements can arise from fraud or
error and are considered material if. individually or in the aggregate. they could reasonably be expected lo 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 instances of non-compliance with laws and regulations. We design procedures in
line with our responsibilities, outlinèd above, to detect material misstalemenls in respect of irregularities, including
fraud. The extent to which our procedures are capable of detecting irregularities. including fraud, is detailed below.
the nature of the activities and sector, conlrol environmenl and performance-,
result5 of our enquiries of management about their own identification and assessment of the risks of
irregular(ties',
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 whelher they were aware of
any instsnces of non-compliance.,
delecting and responding to the risks of fraud and whelher they have knowledge of any actual,
suspected or alleged fraud.,
the inlemal controls eslablished to mitl9ate risks of fraud or non-GomplianGe with laws and
regulations.,
the matters discussed among the audit engagement tèam 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 wilhin the
organisation for fraud. In common with all audits under ISAS (UK). we are also required to perform specific
procedures lo respond to the risk of management override.
We a150 obtained an understanding of the legal and regulatory frameworks that the chanlable company operales 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 (Northern 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 fundamental to the charitable company's abilily to operate or lo avoid
a material penalty.
As a result of performing the above our procedures to respond to risks identified included the following..
reviewing the financial statement disclosures and testing lo supporting documentation to assess
compliance with provisions of terms of funding, relevant laws and regulations described as having a direcl
effect on the financial statements.,
enquiring of management concerning aclual and potential litigation and claims;
performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks
of material misstatement due to fraud.,
reading minute5 of meetings of those charged with governance 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 adiustmenls,. assessing whether the judgemen15 made in making accounting
estimates are indicative of a potential bias,. and evaluating the business rationale of any Signifi￿nt
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 inlerna5 specialists, and remained alert to any indications of fraud or non-compliance with laws
and regulalions Ihroughout the audit.
A further description of our responsibilities is available on the Financial Reporting Council's website at.. httPS:11
www.fr¢.org.ukJaudilorsresponsibilities. 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 lo Ihe charity members, as a body, in accordance wilh Chapter 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken 50 that we might stale 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 lo anyone other than the charity and the charily
members as a body. for our audit work, for this report. or for the opinions we have formed.
James Gage {Sonior 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
161<12S

LAGAN VALLEY RURAL TRANSPORT
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
Unrg$trlctedDfl Ro$trlctod
Other
Restrlcted
funds
202S
Totsl
Total
funds
202S
funds
202S
2025
2024
Notss
Income and endowments from:
Donations and legacies
Charitable activities
Investments
Other income
200
4,977
1,600
149,520
1,258
18,720
97,588
168.440
103.823
1.600
100,299
113,936
1,663
8.758
Total income
6,777
150,778
116.308
273,863
224,656
enditure on:
Charitable activtties
645
154,127
121,224
275,996
239,698
Net incomingl{outgoing) resources
before transfers
6,132
(3.349)
{4.916}
(2.133)
(15.042)
Net Incomellexpenditure} for the yearl
Not movement in funds
6.132
(3,349)
14.916)
(2,133)
(15.042)
Fund balances at 1 April 2024
227,364
12,802
49,676
289,842
304,884
Fund balances at 31 March 2025
233,496
9,453
44.760
287,709
289,842
Statement of ¢omprehensive Income
There is no other comprehensive income to report for the financial year.
Continuing operations
The Statement of Financial Activities has been prepared on the basis that all operations are continuing operations.
Hlstorical Cost
The resulls as disclosed in Ihe slatemenl of financial activities and the net outgoing resources for the year have
been presented on an historical cost basis.
Comparatives
The Gomparative amounts by fund have been disclosed in notes 3 4 and 7.
The notes on pages 11 to 23 fonn part of these financial statements

LAGAN VALLEY RURAL TRANSPORT
BALANCE SHEET
AS AT31 MARCH 2025
2025
2024
Notes
Fixed assets
Tangible assets
12
914
22.125
Current assets
Debtors
Cash at bank and in hand
13
38,146
277,223
59,016
243.162
315,369
302,178
Creditors: amounts falling due within
one year
14
128,574}
134,461 }
Net current assets
286,795
267.717
Total assets less Current liabilities
287.709
289.842
Income funds
Other Restricted funds
Dfl Restricted funds
Unrestricted funds
16
16
17
44,760
9,453
233.496
49,676
12,802
227.364
Total funds
287,709
289.842
These financial statements have been prepared in accordance with the provision5 applicable to companies subject
to the small companies regime.
The financial slatemenls were approved by the Trustees and authorised for issue on
its behalf by..
2 61.1.12& . and signed on
Mr M O'Neill
Trustee
Mr G Hendrie
Trustee
Company Registration No. N1054558
Charity Registration No. NIC 100006
The notss on pages 11 to 23 fomi part of these financial statements
10-

LAGAN VALLEY RURAL TRANSPORT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
Charity inforniation
Lagan Valley Rural Transport is a private company limited by guarantee incorporated in Northern 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 accordance with the charity's Memorandum and Articles of
Association, the Companies Act 2006 and 'Accounting and Reporting by Charities.. Statement of
Recommended Practicè applicable to charities preparing their accounts in accordance wilh 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. Th& principal a¢counling
policies adopted are set out below.
1.2 Going con¢em
At the time of approving the financial stalements, the trustees have a reasonable expectation that the charily
has adequate resources lo 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.
1.3 Fund Accounting
The charily ha5 different types of funds for which it is responsible, and which require separate disclosure.
These are as follows..
(a) Reslricled 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 Ihe organisalion and are set out in the notes to the
financial slatemenls.
{b) Unrestricted funds - Funds which are expendable al the discretion of the directors in the fulherance 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
InGome is recognised when the charity is le9ally entitled lo it after any performanGe condition5 have been met.
the amounts can be measured reliably, and it is probable thal income will be received. All income arose wholly
in Ihe 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 heading5 they have been allocated to charitable adivilies on a
basis consistenl with use of the resources. Staff costs and overhead expenses are allocated lo activitie5 on
the basis of staff time spenl on those activities.
1.5 Support costs
Support costs are those functions that assist the work of the charity but do not directly represent tharilable
activities. Support costs include back office costs. finance. human resources, 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 2025
Accounting policies
(Continued}
1.6 Tangible fixed assets
Tangible fixed assets costing £500 or more are initially measured at cost and subsequently measured al cost
or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as lo wrile off the Gost 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°/0 Slraighl Line
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.
1.7 Impaimient of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets lo determine
whether there is any indication that those assets have suffered an impairment loss. If any such indication
exists. Ihe recoveiable amount of the asset is estimated in order to determine the extent of the impairment
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
wilhin borrowing5 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 inslruments.
Financial instruments are recognised in the charity's balance sheet when Ihe charity becomes party lo 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 lo settie on a
net basis or to reali5e 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 tnethod unless the arrangement constitutes a financing transaction. where the transaction is
measured at the present value of the fulure receipts discounted at a market rale 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 2025
Accounting pollcies
(Continued)
Basic financial liabilities
Basic financial liabilities. induding creditors and bank loans are initially recognised at transaction price unless
the arrangement conslitules a financing transaction, where the debt instrument is measured at the present
value of the future payments discounted al 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 currenl liabilities if payment is due within one
year or less. If nol. they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effe¢tive interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or
cancelled.
1.10 Taxation
The company is a registered charity and is nol liable to tax on funds generatèd from activities within the scope
of the charitable exemptions.
1.11 Employee beneflts
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are
received.
Terminalion benefits are recognised immediately as an expense when the charity is demonstrably committed
lo terminate the employment of an employee or to provide lerminalion benefils.
1.12 Retirement benefits
The charity operates a defined contribution pension scheme which is a pension plan under which fixed
ontribulions are paid into a pension fund and the charity has no legal or constructive obligation to pay further
contributions even if the fund does not hold sufficient assets lo pay all employees the benefits relating to
employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in Ihe 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
reward5 of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assels at Ihe lower of the assets fair value al Ihe date of
inception and the present value of the minimum lease payment5. 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 ¢5 charged lo net incomel(expenditurel for the year so as lo produce a constanl
periodic rale of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged as an expense
on a straight line basis over the term of the relevant lease.
13-

LAGAN VALLEY RURAL TRANSPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
{Continued)
1.14 Government grants
Government grants ale recognised based on the accruals model and are measured at the fair value received
or receivable. Grants are classified as relating either lo revenue or assets. Grants relating to revenue are
fecognised 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 judgemonts
In the application of the charity's accounting policies. the trustees are required to make judgements, estimates
and assumptions about the carrying amounl 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 lo 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.
14-

LAGAN VALLEY RURAL TRANSPORT
NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2025
Donafjon$ Nnd l•gllcl•s
Dfi R•strlcted
Fund$
2025
R•strlct•d Unrestrlcl•d
Fund
Fundi
2025
2025
Tolal
Dfl R•$trl¢t•d R•strlct•d Unr•¥irfctod
Funds
Funds
Fund*
2024
2024
1024
Total
202S
2024
Dfl RTF Schome
on ARTS
Dri Blue l Green Infr&8truclure funding
Lisbum & Caslkreagh City Counol
Li$bum School Unrfom Bank
116,168
14.244
19,108
116.168
14.244
19.108
18.720
2LM)
57.227
5.244
19.108
57.227
5,244
19.108
1B,720
18.720
18.720
149.520
18.720
200
168.440
81.579
18,720
100,299
?s.

LAGAN VALLEY RURAL TRANSPORT
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2025
Charftablo a¢￿¥611•$
Dn
Otherunrestricted
R•$trf¢tod R•8trlct•d
Funds
Fun¢Js
Funds
2025
Total
Ofl R•strtct•dUnrèstrt¢tod
2Q25 Restrfcted
Funds
Funds
Fund5
2024
Total
2024
2025
2025
2024
2024
Dial a lift
Dfi DArs
Hire & Otlier Charges
DAL Meml>ership Fees
1,258
1.258
97.588
3.462
1.495
735
735
107.167
4,824
1,270
97.588
107,167
3,482
1.4
4,824
1,210
1,258
97,588
4.9n
103.823
735
107.167
6.034
113.936
16-

LAGAN VALLEY RURAL TRANSPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Invèstments
Unrestrictsd Unrestricted
funds
funds
202S
2024
Interest receivable
1.600
1,663
Other income
Unrestricted
funds
Unrestricted
funds
2025
2024
Misapproprialion of expenses reimbursed
Rental of Vehicle
590
4.200
4,790
Dri
Restricted
funds
Restricted
funds
2025
2024
Misappropriation of expenses reimbursed
3,968
17-

LAGAN VALLEY RURAL TRANSPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Expenditure on charitable activities
Dfl Ro$trlct8d
Funds
Othèr UnTestrlctgd
Rpstricted
Funds
Funds
Total
Total
2025
2025
2025
2025
2024
Transport Costs
Employment costs
Staff Training
Poslage & Stationery
ICT Costs
Travel Expenses
Clolhing Costs
General Expenses
Telephone
Professional Fees
Premises Costs
Insurance
Heat & Light
RepaiTS & Renewals
Membership Fees
Bank Fees
Depreciation
Accountancy services
9,010
98,911
329
673
3,865
4,533
367
701
1.844
1,924
7,109
531
2,197
171
18,720
77.637
276
565
3.247
3.808
308
589
1.549
1.616
5,972
446
1.846
144
27.730
176.548
605
1.238
7,112
8,341
675
1,290
3.393
3.540
13.081
977
4.043
315
645
692
21,211
1,312
36.053
104.441
1.038
520
6,078
5.720
675
2.920
38,048
13,031
1,151
3,918
491
404
535
21.211
430
645
376
19,108
713
316
2.103
599
152,362
119,741
645
272.748
236,664
Analysed between:
Charitable activities
Support costs
254,706
18,042
214,523
22,141
272,748
236.664
Share of governance costs (see note 8)
1,765
1,483
3,248
3,034
154,127
121,224
645
275.996
239.698
18-

LAGAN VALLEY RURAL TRANSPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Governance costs
Governance
costs
2025
2024
Audit fees
3,248
3,248
3,034
Analysed be￿een
Charitable activities
3,248
3,248
3,034
Governance costs includes payments lo the auditors of £3,248 (2024- £3.034) for audit fees.
Net movement in funds
2025
2024
Nel movement in funds is stated after chargingllcrediting)
Fees payable to the company's auditor for the audit of the company's financial
statements
Depreciation of owned tangible fixed assets
3.248
21,211
3.034
21.211
10 Trustses
None of the trustees lor any persons connected with them) received any remuneration from the charity during
Ihe year.
None of the Irustees received 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) durin9 the year was:
202S
Number
2024
Number
Charitable activies
Employment costs
2025
2024
Wages and salaries
Social securily costs
Pension costs
165,498
7,974
3,076
99,690
2,725
2,026
176,548
104,441
No employees received 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 2025
12 Tangible fixed assets
IT Equlpment Motor v8hlcl•$
Totsl
Cost
At 1 April 2024
6,309
156,427
162,736
At 31 March 2025
6,309
156,427
162,736
Depreciation and impaimient
At 1 April 2024
Depreciation charged in the year
3,625
2,103
136,986
19,108
140,611
21,211
At 31 March 2025
5,728
156,094
161.822
Carrying amount
At 31 March 2025
581
333
914
At 31 March 2024
2,684
19,441
22,125
13 Debtors
2025
2024
Amounts falling due within one year:
Charitable activity debtors
Prepayments and accrued income
other debtors
1,047
15.401
21,698
18,062
13,593
27,361
38.146
59,016
14 Creditors: amounts falling due within one year
2025
2024
Notes
Deferred income
Operating creditors
Other taxation and social security
Accruals and other creditors
15
500
7.883
10,902
9,289
19.108
5.387
618
9,348
28.574
34,461
15 Deferred income
2025
2024
Deferred funding
500
19,108
20-

LAGAN VALLEY RURAL TRANSPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
15 Deferred income
(Continued)
During the current year a reslricted grant was received from Co-op Local Community Fund and as this is due
to be spent towards PR costs in the year ended 31 March 2026, the grant has been deferred in full at the
year-end and will be released in line with the related expenditure.
16 Restricted funds
Balance at
l Aprll 2024
Incoming
rèsourcas
Rosourcos
xpondad
Tran$fers
Balanc& at
31 March 2025
Other Restricted funds
Dfl Restricted funds
49,676
12,802
116,308
150,778
{121,224)
(154,127)
44,760
9.453
Total restricted funds
62,478
267,086
1275.351)
54.213
17 Unrestricted income funds
8alance at
1 Aprtl 2024
In¢omlng
resources
R•$ourco$
oxpgndgd
Transfors
Balart¢• at
31 March 202S
Unrestricted funds
227,364
6,777
{645)
233,496
21

LAGAN VALLEY RURAL TRANSPORT
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2025
18 Analy$ls of n&ta$sels bfytw••n funds
Unr•strtci•d Rè•trfÈt•
Oth•r
R#$th¢t•
Totsl Unr•strict•d Dll R•stri¢t•d
rundi
funds
othor
R•strfct•d
Z025
2020
2025
202S
2024
2ty24
20Z4
2024
Fund baL4nces al 31 Marth 2025 are rerKesenled
by..
T￿gIble assets
914
43.846
914
286.795
22.125
27.551
22.125
267.717
233,496
9.453
227.364
12,802
233,496
9.453
44,760
287.709
227,364
12.802
d9 676
289,642
-22-

LAGAN VALLEY RURAL TRANSPORT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
19 Analysis of net funds
At 1 April
2024
Financing At 31 March
cash flows
202S
Cash al bank and in hand
243,162
34,061
277.223
20 Capital commitments
The company had no capital commitments as at 31 March 2025.
21 Non-audit service provision
In common with many other charities of our size and nature we use our auditors lo assist with the preparation
of the financial statements.
22 Relatsd party transactions
During Ihe year the charity made the following 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 Privale 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
ILRTI was created. a company which shares some common direclors 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 £21.698 (2024.. £21,664). This amount is induded within 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-