Company Registration Number: N1030528 {Northern Ireland) Charlty Number: 101051 Lough Neagh Rescue Limited Trustees, Report and Flnancial Statements for the Year Ended 31 March 2023 CHARTERED ACCOUNTANTS wmm *ACXIVGSQ 1710212024 COMPANIES HOUSE A13 #218 Lou Contents h Rescue Llmlt d Page Company Informatlon Trustees, report Independent auditor's report Statement of financial activities Balance sheet Notes to the financial statements 9-15 Lou Com hNe an h Rescue Limited Inforniation Trustees Mr D Mallon Dr A Mccann Mr C Hughes Mrj P Martin Mr M Crozier Mr P Hughes Msj Kidd MrCHMCorr (reslgned 02105120231 (resigned 07106120231 (resigned 02105120231 (resigned 02105120231 (resigned 02105120231 (resigned 02105120231 (resigned 07106120231 Mr S Brown {resigned 23106120221 Mr M McGuckln {appointed 0210512023) Mr S Kyles {appointed 0710612023 Mr S Rocks (appointed 0710612023 Mr L Teague (appointed 07/0612023 Mr D Lundy (appointed 07106120231 Mr M Moffett (appointed 07106120231 Audltors SCC Chartered Accountant5 17 College Street Armagh BT619BT Bankers 47 William Street Cookstown Co. Tyrone 8T80 8AX Reglstered office Kinnego Lifeboat Station, Klnnego Bav. Oxford Island, Lurgan, County Armagh, 8T66 6NJ Northern Ireland Company reglstration number N1067640 Charlty number 101051 Lou hNe h Rescue Llmlt d Trustees, Re ort The trustees who are also direttors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charltles: Statement of Recommended Practlce applicable to charities preparin8 thelr accounts in accordance wlth the Flnancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 leffective I January 2019). Objectfves and alms The primary aim of the company is to provide a first class rescue service available at all times to respond to any emer8ency which may occur on Lou8h Nea8h and its tributaries. Appolntment of new trustees New trustees are recruited by open recruitment by existing director5 to fulfil specific roles and skills on the board, The potential trustee Is then Interviewed regarding their willingness to become a trustee and thelr potentlal contributlon to the alms and objectives of the charlty is considered. Publlc beneflt Our focus has been on continuing to provide services in a safe and effective way. Lough Neagh Rescue Limlted continues to meet the definition of a publlc benefit entity under FRS 102 and in line wlth It, charltable objectives as detailed throughout the report. Financial review Durln8 the year ended 31 March 2023 the charitv 8enerated a surplus of £483,93912022: £3,712 surplus). Structurep governance and management The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Statements of trustees, responslbllltles The trustees are responsible for preparln8 the annual report and the financlal statements in accordance with applicable law and United Kln8dom Generally Accepted Accountin8 Practice. Company law requires the trustees to prepare financial statements for each financial year. Under the law the trustees have elected to prepare the financial Statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a give a true and fair view of affalrs of the charity and of the surplus or deficit of the charity for that period. In preparin8 these flnanclal statements, the tru5tee5 are required to: select suitable accountlng policles and then apply them conslstentlv; observe the methods and principles in the Charities SORP,. make judgements and estimates that are reasonable and prudent; State whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statement5; and Lou hNe Trustees, Re Llmited continued ststements of trustees, responsibilities- continued prepare the financial statements on the going concern basis unless it is inapproprlate to presume that the charitable company will continue in business. The trustees are responsible for keepin8 proper accounting records that are sufflcient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the charity and which 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. Statement •$ to dlsclosure of Informatlon to auditors Each person who was a trustee at the time this report was approved confirm5 that: so far as he/she is aware. there is no relevant audit information of which the company's auditor is unaware, ar>d he/she has taken all the steps that he ought to have taken as a trustee in order to make himselflherself aware of any relevant audit information and to establish that the company's audltor is aware of that Information. Statutory audltor5 SCC Chartered Accountants were appointed auditors to the charity and a resolution proposing thelr reappointment will be put to the Annual General Meeting. This report was approved by the board on 9 January 2024, and signed on is behalf bv.. Mr D Mallon Trustee Lou hNe h Rescue Limited Inde endent Auditors, Re To the Members of Lou hNea h Rescue Llmlted Oplnlon We have audited the financial statements of Lough Neagh Rescue Limlted (the 'chartt3ble company'l for the year ended 31 March 2023 which comprise the Statement of Financlal Actlvities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financlal reporting framework that has been applled In their preparatlon Is applicable law and United Kingdom Accountlng Standards Iunlted Kingdom Generally Accepted Accounting Prattice). In our opinlon the financial statements.. give a true and fair view of the state of the charity's affalrs as at 31 March 2023 and of its incomin8 resources and application of resources, includin8 Its income and expenditure, for the period 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. Bagls for oplnlon We conducted our audit in accordance with International Standards on Auditing {UKI {ISAs IUK}l and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the flnancial statements In the UK, Includin8 the FRC'S Ethical Standard. and we have fulfllled our other ethlcal responsibilities In accordance with these requirements, We belleve that the audit evldence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclu$lons relatlng to golng concern We have nothing to report in respect of the followlng matters In relatlon to which the ISAS (UK} requlre us to report to you where: the trustees use of the goin8 concern basis of accountin8 in the preparatlon of the financial statements is not appropriate,. or the trustees has not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company's ability to continue to adopt the golng concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. Other inforniation The trustees are responsible for the other information, The other information comprises the information included in the annual report, other than the financial statements and our auditorfs report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Lou hNea h Rescue Llmlted Inde endent Audltors, Re To the Members of Lou hNea Contlnued h Rescue Llmlted Other Informatlon In connection with our audit of the financial statements, our responsibllity 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 audit or othenvise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are requlred to determlne whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material m155tatement of thls other informatlon, we are required to report that fact. We have nothin8 to report in this regard. Oplnlons on other matters prescrfbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of our audit: the information 8iven in the director's report for the financial year for which the financial statements are prepared is consistent with the financial statements: and - the director's report has been prepared in accordance with applicable legal requlrements. Matters on whlch we are required to report by exception In the light of the knowledge and understanding of the company and its environment obtained in the course of the audlt, we have not identified material misstatements in the trustees, report. We have nothin8 to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, In our opinion.. adequate accountin8 records have not been kept, or returns adequate for our audlt have not been received from branches not vislted by us; or the financial statement5 are not in agreement with the accountin8 records and returns; or certain dlsclosures of dirertor's remuneration specified by law are not made; or we have not received all the Information and explanations we requlre for our audit. Responslbllltles of trustees As explained more fully in the trustees responsibilities statement, the trustees is responsible for the preparation of the financial statements and for bein8 satisfied that they give a true and fair view, and for such Internal 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, disclosin& as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intends to liquidate the charity or to cease operations, or has no realistic alternative but to do so. Lo hNea hRe e Llmlt d Inde endent Auditors, Re ort To the Members of Lou hNea continued h Rescue Limited Auditor's responslbllltles for the audit of the flnanclal statements Our objectives are to obtaln reasonable assurance about whether the flnancial statements as a whole are free from material mi55tatement, 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 not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect 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 to influence the economic decisions of users taken on the basis of these flnanclal statements. A further description of our responsibilities for the audit of the financial statements Is located on the Financial Reporting Council's website at: http://www.frc.org.uk/auditorsre5ponsibllities. Thls description forms part of our auditorfs report. The purpose ol our audit work and to whom we owe our responsibilltles This report is made solely to the charity's 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's members those matters we are required to State to hlm 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's members, as a body, for our audit work, for this report, or for the opinions we have formed. Sean G. Cavana8h (Statutory Audltor) for and on behalf of SCC Chartered A