Draft Flnanclal Ststsments at 27 March 2023 at 15:56:26 LAKELAND COMMUNITY CARE LIMITED STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 NOVEMBER 2022 Current financial year Unrestricted unStrICted Restricted funds funds funds general designated 2022 2022 Total Total 2022 2022 2021 Income from: Donations and legacies Charitable actiwties Investments 3,492 4.782.944 869 92,247 95,739 247,026 4,782,944 4,032,406 869 2,031 Total income 4.787,305 92,247 4,879,552 4,281,4b3 nditure on: Charitable activities 5,018.304 54,269 107.237 5,179,810 4,517.174 Net expenditure for the yearl Net movement In funds 1230.999) (54,269) 114,990) 1300,2S8) (235,711) Fund balanGes at 1 December 2021 620.858 986,887 21,015 1,628.760 1,864.471 Fund balances at 30 November 2022 389.859 932.618 6,025 1,328.502 1,628,760 All income and expenditure derive from continuing activities. The statement of financial activities also complie5 With the requirements for an income and expenditure account under the Companies Act 2006. 12-
Draft Financial Ststements at 27 Mah 2023 at 1S:56:26 LAKELAND COMMUNITY CARE LIMITED STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 30 NOVEMBER 2022 Prfor financial year Unrestricted Unrestricted Restri¢tsd funds funds funds general designated 2021 2021 Total 2021 2021 Note¥ Income from: Donations and legacies Charitable activities Investments 1,834 4,032.406 2,031 245,192 247,026 4.032,406 2,031 Total income 4,036.271 245.192 4,281,463 ndlture on: Charitable activities 4,147,728 54,269 315,177 4,517,174 Net expenditure for the yéarf Net movement in funds {111A57) 154,2691 169,985) (235.711) Fund balances at 1 December 2020 732.315 1,041,156 91,000 1.864.471 Fund balances at 30 November 2021 620.858 986,887 21,015 1.628.760 13-
Draft Financial Statements at 27 March 2023 at 15:56:26 LAKELAND COMMUNITY CARE LIMITED BALANCE SHEET AS AT 30 NOVEMBER 2022 2022 2021 Notes Flxed assets Tangible assets 10 967.230 1,031,066 Current assets Debtors Cash at bank and in hand 11 104,145 742,435 110.529 1,053,972 846,580 1.164,501 Creditors: amounts falling due within one year 12 1485,308) (568,807) Net Current assets 361,272 597,694 Total assets les8 ¢urrnnt liabilities 1,328.502 1,628,760 Income funds Restricted funds Unrestricted funds Designated funds General unreslTiGted funds 14 6.025 21,015 15 932,618 389,859 986.887 620.858 ,1,322,477 1,607,745 1.528,502. 1.628,760 These financial statements have been prepared in accordance with the provisions applicable to companies subjecl to the small companies regime. The financial statements were approved by the Trustees on ....................-...: Mr Emmet M¢Nulty (Chair) Trustee Dr Lu(aa A Maguire MB MRCGP Trustee Company registration number N1028932 14-
Draft Financial Statsments at 27 March 2023 at 15:56:26 LAKELAND COMMUNITY CARE LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 NOVEMBER 2022 2022 2021 Notes Cash flows from operating activities Cash (absorbed byllgenerated from operations {310,808) 4.192 Investing activities Purchase of tangible fixed assels Investh)ent income received (1.598 869 (11.231) 2,031 Net cash used In investing a¢tivltlos 17291 (9,200} Net cash used in financlng activities Net decrease in Casli and cash equivalents {311,537} (5.008) f4qh and c,3ob. priiiiij?,lénls ei hegip.ryin.g of year 1,057 97? 1.II4R:Q80 Cash and cash equivalents at end of year 742,436 1.053,972 15-
Draft Flnanclal Statements at 27 March 2023 at 15:56:26 LAKELAND COMMUNITY CARE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022 Accounting policies Charity information Lakeland Community Care Limited is a private company limiled by guaranlee incorporated in Northem Ireland. The registered office is 1 Lattone Road, Belcoo, Fermanagh, BT93 5AQ. 1.1 Accounting Convention The financial statemenls have been prepared in accordan with the charity's Igoverning documentl, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" fFRS 102.) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Gharities preparing *heir accoLJnls 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 Enlily as defined by FRS 102. The financial statements are prepared in sterling, which is the functional Gurrency of the charty. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have be¥n prepared under the historical cost ¢onvenTion, Imodified to include the . rtiiai•Jation. of f.,--b.old pr"y4its•. a+ 49 ina.ude investment propert4ies and certain fintsllcial jnS4X'Tr.?nts f2ir value]. The principal accounting poliGie$ adopted are set out below. 1.2 Going Concern At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to conlinue in operational existence for the foreseeable future. Thus the trustees nlinue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charftable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of Iheir charitable 'obi&Giiveb.' Reslricted fur,ds are subject lo specific conditions by donors as to how they rnay be used. Tle pu.'PceS and uses of Ihe restricted funds are sel out in the noles to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the 1A Income Income from charitable aGtivities includes income reiVed under contract or where entitlement to grant funding is subject to specific performance conditions. Income is recognised as earned as Ihe related services or good are provided. Grant income included in this category provides funding to support projects and is recognised when the charity is legally entitled to it afier any performance conditions have been met, the amounts can be measured reliably, and il is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been nolified of the donation, unless performance conditions require deferral of the amount. Income lax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of Ihe donatton. Lega¢ies are reco9nised on re¢eipt or otherwise if the charity has been notified of an impending distribution. the amount 15 known, and receipt is eXpeed. If the amount is not known, the legacy is treated as a contingent asset. 16-
Draft Financial Ststements at 27 March 2023 at 15:56:26 LAKELAND COMMUNITY CARE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022 Accountlng policies (Continued) 1.$ Expenditure Expenditure on charitable activities compromises all the resources applied by the charitable company in undertaking it5 work to meet its charitable objective5. Charitable activities will include the Gosts of governance ariangements to the general running of the charity. Expenditure is recognised when a liabilily is incurred. Contractual arrangements and performance related grants are recognised as goods and services are supplied. Where costs cannot be directly attributed to a particular heading they have been allocated to activities on a basis consistenl with the use of resources. Staff osts and overhead expenses are allocated to activrties on the basis of slaff time spent on those adivilies. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at ¢0St an(1 subsequently measured at cost or valuation, net of depreciation and any impairment 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.. Freehold land and buildings Fixtures and fittings Computers Motor vehicles 40h Straight Line 20•/0 Redu¢ing Balan 20010 Reducing Balance 200h Reducing Balance The gain or loss arising on the disposal of an asset is detemin8d as the difference between the sale proceeds and the ¢arying value of the asset, and is recognised in the statement of financial activities. 1.7 Impairment of fixed as¥et• -At each reporting. end date, the charity rev,iews the carrying amounts of its tangible assets to deterrpine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount.of.the asset is estimated in order to determinè the exlent of the impaiment loss (rf any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held al ¢all with banks, other short-temi liquid. investments wilh 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 Instrumenls, and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are reGognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the inslrument. Financial assets and liabilities are offset, with th8 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 basi5 or to realise the assel and settle the liability simultaneously. Basic financial assets Basic financial assels, which include debtors and cash and bank balances, are initially measured at transaction price including transaction ¢osts and are subsequently carri8d 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 reiptS discounted al a market rale of interest. Financial assets classified as receivable within one year are not amortised. 17-
Draft Finan¢lal Statsments at 27 March 2023 at 15:56:26 LAKELAND COMMUNITY CARE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022 AG¢ountlng policies (Continued) Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement nstItuteS a financing transaction, where the debt instrument is measured at the present value of the fvture payments discounted at 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 sep11S that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classrfied as Cuent liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured al amortised cost using the effective interest method. Derecognition of financial liabilities Finanaal liabilities are derecognised when the charity's contractual obligations expire or are distharged or cancelled. 1.10 Taxatlon The company is iecognised as a charity by HM Revenue and Customs. Accordingly, the company is not onsidered to be liable to pay Corporation Tax. 1.11 Employee benefits The cost of any unused holiday entiuement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the haritY is demonstrably committed to te.rminate. the emplovment of an ¢*m.p!oye.e nr_to proiiide term.ination benefits:. 1.12 Retirement benefits Payments to defined contribution retirement benefrt schemes are charged as an expense as they fall due. Critical accounting e$timates and judgeThnts Ip. the application of the charily's accounting policies. the truslees are required to make judgements. estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other SoUs. The estimates and assoGialed assumptions are based on historical experience and other faclors that are considered to be relevanl. 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. 18-
Draft Flnancial Ststements at 27 March 2023 at 15:56:26 LAKELAND COMMUNITY CARE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022 Donatlons and legacies Unrestricted Restrlcted funds funds general 2022 Totsl Unrestricted funds general 2021 Restricted funds Total 2022 2022 2021 2021 Donations and gifts 3,492 92.247 95.739 1,834 245,192 247,026 -19-
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Draft Financial Ststements at 27 March 2023 at 15:56:26 LAKELAND COMMUNITY CARE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022 Investments Unrestrlcted Unrestricted funds funds general general 2022 2021 Interest receivable 869 2,031 21
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Draft Flnanclal Statements at 27 March 2023 at 1 S:56:26 LAKELAND COMMUNITY CARE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022 Support Costs Support Governance costs osts 2022 Support Govemance costs costs 2021 Staff costs Depreciation Central Premises Costs Central Office Costs Consultancy Support Costs Other Staff Costs other Administrative Costs 508.382 65,434 60,650 98,107 508,382 65,434 60,650 98,107 453,638 65,316 74,156 90,149 453,638 65,316 74,156 90,149 57.050 40,070 57,050 40,070 47,050 33,888 47,050 33.888 10,690 10.690 11,364 11.364 Audit fees 7.200 7.200 7,850 7,850 840.383 7,200 847.583 775,581 7,SiO 783.411 Analysed beeen Charitable aclivities 840,383 7,200 847.583 775.561 7,850 783.411 Trustees None of the. trustees lor any persons connected with them) received any remuneration or benefits from. the charity during the year. Employeés The average monthly number of employees during the year was.. 2022 Number 2021 Number 228 215 Employment costs 2022 2021 Wages and salaries Other pension costs 4,413,899 83,488 3,732,079 71,511 4,497,387 3,803,590 There were no employees whose annual remuneration was more than £60,01)0. -23-
Draft Financial Ststements at 27 March 2023 at 15:56:26 LAKELAND COMMUNITY CARE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022 10 Tangible fixed assets Frèehold land Flxtures and and bulldlng8 ffttlngs Computsrs Motor vehicltr$ Total Cost Al 1 December 2021 Additions 1,356,727 82,020 856 113,449 742 37.000 1.589.196 1.598 At 30 November 2022 1,356.727 82.876 114.191 37,000 1.590,794 Depreciation and impairment At 1 December 2021 Depreciation charged in the year 369.840 54.269 69.630 4.659 81,660 6,506 37,000 558,130 65,434 At 30 November 2022 424,109 74.289 88,166 37,000 623,564 Carying amount Ai 3n November 9022 932,618 8,587 26,025 967,2811 At 30 November 2021 986,887 12,390 31,789 1,031,066 Freehold land and buildings with a carrying amount of £932,618 (2021 £986,887) have been pledged to secure botrowings of Ihe charity. The charity is not allowed to pledge these assets as security for other borrowings or to sell tham to another entity- 11 Debtors Amounts falling due wlthln one year: Trade debtors Other debtors 93.100 11.04S 103,733 6,796 104.145 110,529 12 Creditors: amounts falling due within one year 2022 2021 Other taxation and social security Trade credilors Accruals and deferred income 61,962 37,793 385,553 54,546 76,567 435,694 485,308 566,807 -24-
Draft Flnan¢ial Statements at 27 March 2023 at 15:56:26 LAKELAND COMMUNITY CARE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022 13 Retlrement benefit $chemes Defined contribution $¢hemeg The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held Separately from those of thè charity in an independently administered fund. The charge to profit or loss in respecl of defined contribution $¢hemes was £83,488 (2021- £71,511). -25-
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Draft Financlal Statements at 27 March 2023 at 15:56:26 LAKELAND COMMUNITY CARE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022 17 Financial commilmonts. guarantees and contingent liabilities The freehold premises were part funded by the European Agricultural Fund for Ruial Development and the Department of Agriculture and Rural Development (DARD). Under the letter of offer. a debenture was taken out beiween Lakeland Community Care Limited and DARD, granting a charge of £250,000 to the latter over the property. The charge is intended to Secure DARD'S fLJnding of the project. In the event thal the company should dispose of the propety within ten years from the date when the grant was released in 2014, DARD has the right to claw back the grant paid to the company. 18 Related party transactions There were no disclosable related party transactions during the year (2021- none). 19 Cash generated from operauons 2022 2021 Deficit for the year 1300,2581 (235,711) Adjustments for: Investment income re¢ognised in statement of financial activities Depreciation and impairment of tangible fixed assets 1869 65,434 (2,031) 65,316 Movements in working capital.. Decreasel(increase) in debtors (Decrease)lincrease in creditors 6,384 181,499 (21.630) 198,248 Cash. (absorbed byvgenerated from operations (310,808) 4.192 20 Anatysis of cliange¥ In net ivnils The ¢harity had no debt during lh8 year. 21 Auditors. Ethical Standard$ In ¢ommon wilh many businesses of our size and nature, we use our auditors to assist with the compilalion of the statutory finan¢ial statements. -29-