Comp•ny Reiistr•tl¢)n Number. N1030528 INorthern Ireland)
Charlty Number: IOIOSI
Lough Neagh Rescue Limited
Trustees, Report and Flnan¢lal Statements
for the Year Ended 31 March 2024
CHARTERED
ACCOUNTANTS
Mlll
*ADUBJVOI*
1510112025
COMPANIES HOUSE
#123

Lou
hNea
Contents
h Rescue Limited
Pase
Company information
Trustees, report
Independent examiner's report
Ststement of financial activities
Balance sheet
Notes to the flnancial statements
7-13

Lo
Com
hNea
Rescue Limited
Information
an
Trustee$
Mr D Mallon
Mr M McGuckin
Mr S Rock5
Mr L Teague
Mr M Moffett
Mr R Ruddock
Mr C Clarke
Mr L O'Hara
(Resigned 06104120241
(Resigned 06104120241
(Resigned 06104120241
(Resigned 06104120241
(Resigned 10101120241
(Resigned 05110120241
(Resigned 05112120241
IResl8ned 05112120241
Mr P Smyth
(Appolnted 10101120231
Mr R Armstrong (Appointed 06104120241
Mr C Wylie
(Appointed 06104120241
Mr J Devlin
(Appointed 06104120241
Mr J Mcmahon
(Appointed 06104120241
Mr G Hamilton
(Appointed 10104120241
Mr S Kyles
(Appointed 05112120241
Mr D Lundy
(Appolnted 05112120241
Audltors
SCC Chartered Accountants
17 College Street
Armagh
BT619BT
Bankers
Danske 8ank
Donegal Square West
Belfast
BTI 6JS
Reglstered offl¢e
Klnnego Lifeboat Station,
Klnnego Bay.
Oxford Island,
Lurgan,
County Arma8h.
BT66 6NJ
Northern Ireland
Company re115tratlon nurnber
N1030528
Charily number
101051

Lo
hNea
Trustees. Re
Rescue Llmlted
ort
The trustees who are also directors 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 2024.
The trustees have adopted the provisions of 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 IFRS 1021 leffective I
January 20191.
Oblertlves and alms
The primary aim of the company is to provide a first class rescue service available at all times to
respond to any emergency which may occur on Lough Neagh and its tributaries.
Appointment ol new trustees
New trustee5 are recruited by open recruitment by existing directors to fulfil specific roles and skills
on the board.
The potential trustee is then interviewed regarding their willingness to become a trustee and thelr
potential contribution to the aims and objectives of the charity Is considered.
Publlc beneflt
Our focus has been on continuing to provide services in a safe and effective way. Lough Neagh
Rescue Limited continue5 to meet the definition of a public benefit entity under FRS 102 and in line
with it's charitable objectives as detalled throughout the report.
Flnanelal revlew
Durin8 the year ended 31 March 2024 the charity 8enerated a deficit of £73,17912023', £483,939
surplus).
Strurturel governance and rnana8ement
The charity Is Controlled by its governing document, a deed of trust, and constltutes a limited
companyi limited by 8uarantee, as defined by ihe Companles Act 2006.
Ststements of trustees, responslbllltles
The trustees are responsible for preparing the annual report and the financial statements in
accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Company law requires the trustees to prepore financial statement5 for each financial year. Under
the law the trustees have elected to prepare the flnanclal statements In accordance wlth appll¢able
law and United Kingdom Generally Accepted Accountin8 Practice. Under company law the trustees
must not approve the financial 5tatement5 unless they are Satisfied that they give a give a true and
fair view of affairs of the charity and of the surplus or deficit of the charity for that period. In
preparing these flnanclal statements, the trustees are requlred to:
select Sultable accounting policies and then apply them consistently;
observe the methods and principles in the Charitie5 SORP;
make judgements and estimates that are reasonable and prudent:
State whether applicable UK accounting standards have been followed, subjert to any material
departures disclosed and explained in the financial statements. and

hNea
h Rexue Limited
Trustees. Re
ort
continued
Ststements of trustees, responsibilities- continued
prepare the financial statements on the going concern basis unless it is inappropriate to presume that
the charitable company will continue in business.
The trustees are responslble for keeplng proper accountln8 records that are sufficlent 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
Companie5 Act 2006. They are also responsible for safeguarding the assets of the charity and hence for
taking reasonable steps for the preventlon and detectlon of fraud and other irre8ularltles.
Statement as to dlsclosure of lfifofmatioTr to auditors
Each person who was a trustee at the time this report was approved confirms that:
$0 far as he/she is aware, there is no relevant audit information of which the company's auditor Is
unaware; and
helshe has taken all the steps that he ou8ht to have taken as a trustee in order to make
himself/herself aware of any relevant audit information and to establish that the company's auditor is
aware of that inforrnation,
Statutory aud5tors
SCC Chartered Accountants were appointed auditors to the charity and a resolution proposing thelr
reappolntment will be put to the Annual General Meeting.
This report was approved by the board on 13 January 2025, and $58ned on Its behalf bv-.
8*JW
Mr S Kyles
Trustee

Lou
hNea
Rescue Llmlted
Inde
endent Examiner's Re ort
o the Memb
rs of Lou
hNea
h Rescu
Umlt
I report to the chartty's committee on my examination of the accounts of Lough Neagh Rescue Limited for
the yearended 31 Mafch 2024 which are set out.
Respertlve responslbllltles of ¢h•rfty trustees and examlner
As the charity trustees land also the directors of the company for the purposes of company lawl you are
responsible for the preparatlon of the accounts in accordance with the requirements of the Companies
Att 2006. Having satisfied myself that the charity is not subject to audit under company law, and is
eligible for independent examination. it is my responsibility to-
• examine the accounts under section 65 of the Charities Act
follow the procedures lald down In the general Olre¢tlon$ 8lven by the Charlty Commlssion for Northern
Ireland under section 6519llbl of the Charities Act
state whether particular matters have come to my attention.
B•sls ol independent examlner's Statement
I have examlned your charlty accounts as requlred under sectlon 65 of the Charltles Act and my
examination was carried out in accordance with the general Directlons given by the Charity Commlsslon
for Northern Ireland under section 65{9llbl of the Charities Act. The examination included a review of the
accounting records kept by the charity and a comparison of the accounts
presented with those records. It also included Consideration of any unusual items or disclosures in the
accounts. and seeking explanations from you as charity trustees concerning any such matters. My role
IS to state whether any materlal matters have come to my attentlon 8lvin8 me cause to believe..
That accountin8 records were not kept in accordance with section 386 of
the Companies Act 2006
That the account5 do not accord with those accounting records
That the accounts do not comply with the accounting requirements of section 396 of the
Companies Act 2006 and wlth the methods and principles of the Charities Statement of Recommended
Practice applicable to charities preparin8 thelr accounts in accordance with the Flnanclal Reportin8
standard applicable in the UK and Republic of Irèland
That there is further information needed for a proper understanding of
the accounts to be reached.
Independent examlner's statement
I have completed my examination and have no concerns in respect of the matters111 to141 listed above
and, in connection with following the Direction5 of the Charity Commission for Northern Ireland, I have
found no matter5 thal requlre drawin8 to your attention.
Sean Gerard Cavanagh
SCC Chartered Acctwntants Ltd
17 College Stieet
Co. Aima8h
BT619Br
Date.. 1310112025

hNea
h Rescue Llmlted
tstement of Financial Activitles
forthe
ear ended 31 March 2024
2024
Totsl
unds
2023
Total
fund5
nrestrirted
funds
Restrlcted
Notes
Income and Endowments from
Donations
Grants
Other income
Total
61.727
44.959
4.800
111,485
61.727
44,959
4,8CKI
111,485
68.397
522,613
24.800
615.810
Expendlture on
Other
Net Income / (Expendlture)
184,664
173.1791
184,664
173,1791
131,871
483,939
Transfers between funds
Net movement in funds
173,1791
173,179)
483,939
Reconclllatlon ol Fund$
Total funds brought forward
816,764
816,764
332,825
Total funds carrled lorward
743,585
743,585
816,764
The statement of financial activities includes all 8ains and losses reco6nised in the year.
All income and expenditure derive from continuing activities.
The notes form an integral part of these financial ststements.

hNea
h Rescue Urnlted
lance Sheet
l March 2024
2024
Total
nds
2023
Total
lufftds
Unrestricled Restr5¢ted
funds
funds
Notes
Fixed assets
Tangible assets
1.015.424
1,015,424
1,131,557
Current assets
Debtors
Cash at bank and in hand
5,836
93,302
99.138
5,836
93,302
99,138
110.409
62,311
172,720
Credltors: amount falllng duè
wlthln one year
131,293)
131,2931 1128,4081
Net current a$5et$
67.846
67,846
44.312
TOTAL ASSETS LESS CURRENT LIABILITIES
1.083.270
1.083.270
1,175.870
Credltors: amount falllng due
after one year
1339,6861
1339,6861
13S9.1061
NET ASSETS
743,585
743,584
816,764
Funds
Restrirted funds
Unrestricted funds
io
743,585
816,764
Total funds
743,585
816,764
For the flnancial year in questlon the company was entitled to exemptlon under sectlon 477 of the
Companies Act 2006 relating to small companies. No members have required the company to obtain an
audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2CKIS.
The dlrectors acknowledge thelr responslbility for complying wlth the requirements of the Act with respett
to accountin8 records and for the preparation of accounts.
The financlal statements have been prepared In accordance wlth the provlslons appllcable to charltable
companies subject to the small companies re8ime.
The financial statements were approved by the Board of Trustees and authorised for issue on 13 January
2025. and are signed on behalf of the board bv:
Mr S Kyles
Trustee
The notes form an integral part of these financial statements.

Nea
h Rescue Limlted
N tes to the Fin
ncial Statem
the
earended 31 M h 2024
Accountln
licies
Company Informallon
Lou8h Nea8h Rescue is a Limited Company and a re8lStered Charity ID Northern Ireland. The address
of the registered office is Kinnego Lifeboat Station. Kinnego Bay, Lurgan. Co, Armagh. BT66 6NJ.
1.1 Basls of preparlfi8 the financial ststements
The financial statements of the charitable company. which is a public benefit entity under FRS 102,
have been prepared In accordance wlth the Charities SORP IFRS 1021 'Accountlng and Reportln8 by
Charities.. Statement of Recommended Practice applicable to charities preparin8 their accounts in
accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS
1021 (effective l January 20191,, Financial Reporting StsndaTd 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements
have been prepared under the historlcal cost convention.
1.2 Golng ¢on¢ern
At the time of approving the financial 5tatement5, the tru5tee5 have a rea50nable expertation that
the charlty has adequate resources to contlnue in operational existence for the foreseeable future.
Thus the trustee5 contlnue to adopt the 8oln8 concern basls of accountln8 In preparln8 the flnanclal
statements.
1.3 Incomln8 resources
All incoming resources are included in the statement of financial artivities when the charity is
entitled to the income and the amount can be quantified with reasonable accuracy. The following
speciflc policles are applled to particular categories of Income..
Voluntary income is received by way of grants, donations and gifts and Is Included in full In the
statement of financial activities when the charity is legally entitled to the income and the amount
can be quantified with reasonable accuracy,.
Grants for the purpose of capltal expenditure are credited to deferred income when recelvable and
amortised in line with depreciation,.
Investment income is included when receivable; and
Incomln8 resources from charitable tradin8 activities are accounted for when earned.
1.4 Expendlture
Liabilities are recognised as expenditure as soon as there Is a legal or constructlve obligation
commlttlng the charity to that expenditure, It 5$ probable that a transfer of economic beneflts wlll be
required In settlement and the amount of the obligation can be measured reliably. Expenditure is
accounted for on an accrua15 basis and ha5 been classified under heading5 that aggregate all c05t
related to the citegory. Where costs cannot be dirertly attributed to particular headings they have
been allocated to activities on a basis consistent wilh the use of resource5.

Lou
hNea
Rescue Llmlted
Notes to the Financlal Statements
l March 2024
1.5 Fund accountln8
The Charity has two types of funds for which it is responsible:
l. Unrestricted funds - the unrestrirted fund is under the control of the Board of Trustees. to be
used In the furtherance of the objectives of the charity.
2. Restricted funds - the restritted fund can only be used for particular restricted purposes within
the objects of the charity. Restrictions arise when specified by the donor or when funds are raised
for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial
statements.
1.6 Tan8lbl• flxed ass•ts
Tan8ible fixed assets are initially measured at cost and subsequently measured at cost or valuatlon,
net of depreciation and any impairment1055es.
Depreciation is recognised so as to write off the cost or valuation of assets less their resldual values
over their useful lives on the following ba515-
Freehold property
5% Reducing Balance
Fixtures and fittings
15% Reducing Balance
Motor Vehicles
25% Reducing Balance
The 8aln or loss arisin8 on the disposal of an asset Is determined as the difference between the sale
proceeds and the carrying value of the asset, and Is credited or charged to profit or loss.
1.7 Impalrment of flxed a55ets
At each reportin8 period end date. the charlty reviews the carrying amounts of its tan8ible assets to
determSne whether there is any indication that those assets have suffered an impairment loss. If any
such Indlcatlon exlsts, the recoverable amount of the asset Is estimated in order to determine the
extent of the Impalrment loss lif any). Where it is not possible to estimate the recoverable amount
of an individual asset. the charity estlm3te5 tlie recoverable amount of the cash.generatlng unit to
which the asset belon8s.
If the recoverable amount of an asset lor cash-generating unit) Is estimated to be less than its
carrying amount, the carrying amount of the asset lor cash-generatin8 unit) is reduced to its
recoverable amount. An impairment loss is recogni5ed immediately in surplus or deficit, unless the
relevant asset 15 carried at a revalued amount, in which case the impairment loss is treated as a
revaluation decrease.
Recognlsed Impalrment losses are reversed If, and only If, the reasons for the impalrment loss have
ceased to apply. Where an impairment10ss subsequently reverses. the carryin8 amount of the asset
lor cash generating unit) 15 increased to the revised estimate of its recoverable amount, but so that
the increased carrying amount does not exceed the carrying amount that would have been
determined had no impairment loss been recognised for the asset {or cash-generating unit) in prior
years. A reversal of an impairment loss is recognised immediately in surplus or deficit. unless the
relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is
treated as a revaluation increase.

Lou
hNea
h Rescue Limited
Notes to the Financial Statements
ear ended 31 Marth 2024
1.8 Cash and cash equlvalents
Cash and cash equivalents are basic financial assets and 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 Fln•n¢ial Instruments
The charlty has elected to apply the provlslons of Section 11 '8aslc Flnanclal Instruments, and
Section 12 '0ther Financlal Instruments Issues, of FRS 102 to all of its flnancSal instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party
to the contractual provlsions of the instfument.
Financial a55ets ènd 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 rea115e the asset and settle the liability slmultaneously.
8osl¢llnan¢lal ossets
Basic financial assets, whlch include debtors and cash and bank balances, afe initially measured at
transactlon prlce Including transactlon costs and are subsequently carrled at amortlsed cost usin&
the effectlve Interest method unless the arrangement constitutes a flnancin8 transaction, where ihe
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.
C14551fl¢atlon oAJlnan¢ialllabllltles
Flnanclal Ilablllt5es and equlty Instruments are classifled accordln8 to the substance of the
contrartual arrangements entered into. An equity instrument is any contract that evidences
residual interest in the assets of the charity after deducting all of its liabilities.
Bosicfinanclol Ilobllitles
Basic financial liabilities, including creditors, bank loans and preference shares that are classified as
debt, are initially recognised at transaction price unless the arran8ement constitutes a financin8
transaction. where the debt instrument is measured at the present value of the luture 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 effertive interest rate
method.
Trade Creditors are obli8ations to pay for goods or services that have been acquired in the ordinary
course of business from suppliers. Amounts payable are classified as current liabilities if payment is
due within one year or le55. If not. they are presented a5 non-current liabilitie5. Trade creditors are
recognlsed Initially at transaction price and subsequentty measured at amortised cost using the
effective Interest method.

Lou
hNea
h Rescue Umlted
Notes to thè Financial Statements
ar ended 31 Mar
h 2024
1.10 Tamatlon
The charity is exempt from corporation tax on its charitable activities.
1.11 Forelgn currencles
Transactions in forei8n currencies are recorded at the rate ruling at the date of the tr3nsaction.
Monetary assets and labilities denominated in foreign currencies are translated at the rate of
exchange ruling at the balante sheet date.
Judgements and key sources of estimatlon uncertainty
In the application of the charlly's accountlng policie5, the trustees are required to make judgements,
estimates and assumptlons about the carrying amount of assets and liabllities that are not readilv
apparent from other sources. The estimates and associated assumptions are based on historical
experlence and other factors that are consldered to be relevant. Actual results may differ from these
estlmates.
The estlmates and underlyin8 assumptions are reviewed on an ongoln8 basis. Revlslons to
accounting estimates are recogni5ed In the period in which the estimate is revised where the
revislon afferts only that period. or in the period ol the revision and future periods where the
revision afferts both current and future periods.
Umlted by 8uarant••
The charlty 55 a company Ilmlted by 8uarantee and has no share capital.
Net Incomlnz resources for the year
2014
2023
Thls Is stated aftef char8ln8'.
Depreclation of owned fixed assets
130,245
130,245
109,589
109,589
Trustees, remuneratlon and beneflts
No remuneration or other expenses were pald to the trustees durin8 the year.
io

Lou
hNea
h Rescue Llmlted
Notes to the Financial Statements
for the
ear
nded 31 March 2024
Tangible fixed assets
Freehold
Pro
Fixtures &
Fittin
Motor
Vehicles
Total
Cost
At l April 2023
Addltlons
Disposals
At 31 March 2024
516,708
1,290,453
14,112
116.115
1,923.276
14,112
516.708
1,304,564
116,115
1,937,387
Depredation
At l April 2023
Charge for the year
Disposal
At 31 March 2024
97.004
20.985
596.330
104,827
98.385
4.433
791,718
130,245
117.989
701,157
102.818
921,963
N•t book valu•
At 31 March 2024
398,719
603,408
13.297
1,015,424
At l Aprll 2023
419,704
694,123
17,730
1,131,557
Debtors
2024
2023
Other debtors
VAT
107,000
3,409
110,409
3,830
5,836
Credltors: amounts fallln8 due wlthln one year
20Z4
2023
Trade creditors
Other creditors
Accrued expenses
Government grants
3,650
5,118
100,250
3,620
19,420
128,408
8.223
19,420
31,293
li

Rescue Limited
Notes to the Flnanclal Statements
for the
nded 31 March 2024
Credltors: amounts falling after one year
2024
20Z3
Government grants
339.686
339,686
359,106
359,106
10 Movement In funds
Net
Transfer
At
01.04.2023
movement
in funds
between
funds
At
31.03.2024
Unrestrlrted funds
General fund
816,764
173,179)
743.585
Restrlcted funds
General fund
Total funds
816,764
173,1791
743,585
Net movement in funds, Included in the above are as follows..
Incomlni
resources
Resources
expended
Movement
In lunds
Unrestrlrted funds
General fund
111,485
1184,6641
173,1791
Restrlcted funds
General fund
Total funds
111,485
1184,6641
73,179
12

Lou
hNea
Rescue Llmlted
Notes tolhe Financial Statements
ded
2024
10 Movement In funds- continued
Comparatives tor movement In funds
Net
Transfers
between
funds
At
01.04.2022
movement
In funds
1.03.2023
Unrestricted funds
General fund
332,825
133.1751
517.114
816.764
RestTlcted funds
General fund
517,114
1517,1141
Total funds
332,825
483,939
816,764
Comparatlve net movement In funds, included In the above are as follows-
Incornlng
resources
Resoui¢e$
expended
Movement
In funds
Vnrestrlrted funds
General fund
98.696
1131.8711
133,1751
Restflcted fund5
General fund
517,114
517.114
Totsl funds
615,810
1131,8711
483,939
11 Desl8nated funds
Included withln unrestirted funds at the year end is a de518nated funds balance of £25,00012023-
£25,000). This balance has been designated by the trustees as funds needed for emergency
replacement of life supporting equipment in the event of a breakdown.
12 Related party transactlons
There are no related party transactlons.
13 Ultimate con¢rollln8 party
The company is limited by guarantee. There is no controlling party.
13

Lou
hNea
h Rescue Llmlted
Detalled Statement of Flnanclal Actlvltles
Forihe
earended 31 M h 2
24
Income and Endowments
2024
2023
Don•tlons •nd leiacles
Donations
Grants
61.727
44,959
106,685
68,397
522,613
591.010
Other tradln8 artlvltles
Other Income
Total incomln8 resources
4.800
111,485
24,800
615.810
Expendlture
Other
Trainin8
Legal and professional fees
Accourttancv
Equipment repair5
7,124
371
3.000
9,596
20.091
4,588
2,663
8,591
15,842
Support costs
M¥n•8em•nt
Rètes
Insurances Inot premisesl
Power, li8ht and heat
Telecommunicatlons
Posta8e, courier and delivery charges
Sundry expenses
Motor runnin8 expenses
Charitable Donation
Rental Expenses
162
17.991
1,179
1.868
13
15,043
13,248
3,320
720
53,542
176
10,628
1,336
3,078
25
2,405
3,094
3,089
2,160
25,992
Flnance
Bank charges
Amort15ation of 8ront
Depreclation
206
119,4201
130,245
111.030
11331
119,4201
109,589
90,037
Total resources expended
184,664
131,871
Net incomellexpendlture)
173,1791
483,939
This pa8e does not form part of the ststutory flnancial statements
14