REGISTERED CHARITY NUMBER: NIC101140
THE LO-DEBAR TRUST
ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
FALCONER STEWART CHARTERED ACCOUNTANTS 248 UPPER NEWTOWNARDS ROAD BELFAST BT4 3EU
LO-DEBAR TRUST YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATIVE DETAILS
| Registered Charity name | THE LO-DEBAR TRUST |
|---|---|
| Charity registration number | NIC 101140 |
| Principal Address | 47 Upper Road |
| Greenisland | |
| Carrickfergus | |
| County Antrim | |
| BT35 5RH | |
| Bank | Ulster Bank |
| 11-16 Donegal Square East | |
| Belfast | |
| County Antrim | |
| BT1 5UB | |
| Independent Examiners | Falconer Stewart Chartered Accountants |
| 248 Upper Newtownards Road | |
| Belfast | |
| County Antrim | |
| BT4 3EU |
THE LO-DEBAR TRUST
YEAR ENDED 31 MARCH 2024 CONTENTS
| PAGE | |
|---|---|
| Report of the Trustees | 1 |
| Report of the Independent Examiners | 2 |
| Statement of Financial Activities and Balance Sheet | 3 |
| Notes to the Financial Statements | 4 |
TRUSTEE'S REPORT FOR THE LO-DEBAR TRUST FOR THE YEAR ENDED 31 MARCH 2024
PAGE 1
Objectives and Activities
This current 2023 to 2024 year for the trust has been one, were we have been able to meet most of our objectives in providing support to our co-workers in Russian. Banking sanctions have had a detrimental effect in us not being able to get funds into Russia through the normal channels. But being able to use some other online providers, we were able to send most of the necessary funding out to our co -workers. But early January 2024 saw us having difficulty with our banking provider who we had been with since 1999. This resulted in our business account being closed down. This has caused us serious concerns, as we are having great difficulty in opening a new Trust account.
Structure, Governance and Management
Alan Kernoghan Billy Annette Richard Clingen
Achievements and Performance
We have been able to met our financial needs this year again, through the generosity of our faithful supporters, who over many years have not only provided the funding but were commented to seeking God’s through prayer to see His work being blessed in Russia.
Financial Review
During the year, donations received amounted to £10,170 and Gift Aid received of £1,549. Funds remaining at the year end amounted to £20,753.
Plans For Future Periods
The Trustees first priority is to be to source a new bank account so that outstanding donations can be lodged. We are intending to look at other ways of providing funds to our co-workers by visiting neighboring countries to hand over the funds to our co-workers. This will allow us to continue our work.
Approved by the Board of Trustees and signed on its behalf by:
Trustee Date: 31/01/2025
Trustee Date: 31/01/2025 Trustee Date: 31/01/2025
PAGE 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES ON THE UNAUDITED ACCOUNTS OF THE LO-DEBAR TRUST FOR THE YEAR ENDED 31 MARCH 2024
We report on the accounts of the Trust for the year ended 31 March 2024 which are set out on pages 3 to 4.
Respective Responsibilities of Trustees and Examiner
The Trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 65(2) of the Charities Act (Northern Ireland) 2008 (the Charities Act) and that an independent examination is needed.
It is our responsibility to:
• examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008. • to follow the procedures laid down in the general Directions given by the Charity Commission under section 65(9)(b) of the Charities Act
Our examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Trust and a comparison of the accounts presented with those records. It also includes consideration of any unusual items of disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent Examiners' Statement
In connection with our examination, no matter has come to our attention:
(1) which gives us unreasonable cause to believe that in any material respect the requirements:
• to keep accounting records in accordance with section 63 of the Companies Act; and • to prepare accounts which accord with the accounting records, comply with the accounting requirements of the Charities Act 2008 and the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities.
haven not been met; or
(2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Falconer Stewart Independent Examiner
248 Upper Newtownards Road Belfast BT4 3EU
Dated: 31/01/2025
PAGE 3
STATEMENT OF FINANCIAL ACTIVITIES FOR THE LO-DEBAR TRUST FOR THE YEAR ENDED 31 MARCH 2024
| Receipts Note Donations 2 Gift Aid Total Income Payments Payments to co-workers Calander and Newsletter Postage and Stationary Accountancy Fees Legal Expenses Sundry Total resources expended Net Movement in Funds Reconciliation of Funds Balance at start of year Balance at end of year Current Assets Cash at bank and in hand Funds Unrestricted income funds Total Charity Funds |
Total Funds Total Funds 2024 2023 £ £ 10,170 52,334 1,549 10,467 |
|---|---|
| 11,719 62,801 |
|
| 9,189 48,879 280 530 213 164 1,805 0 0 300 0 0 |
|
| 11,487 49,873 |
|
| 232 12,928 20,521 7,593 20,753 20,521 |
|
| 232 12,928 |
|
| 2024 2023 £ £ 20,753 20,521 |
|
| 20,753 20,521 20,753 20,521 |
|
| 20,753 20,521 |
These financial statements were approved and authorised for issue by the Board of Trustees on and signed on its behalf by:
31/01/2025
……………………………. Trustee Mr Alan Kernoghan ……………………………. Trustee Mr Richard Clingen ……………………………. Trustee Mr Billy Annette
NOTES TO THE FINANCIAL STATEMENTS FOR LO-DEBAR FOR THE YEAR ENDED 31 MARCH 2024
PAGE 4
1 ACCOUNTING POLICIES
Basis of preparation of the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The accounts have been prepared on a receipts and payments basis.
- 2 Receipts & Payments
Recognition of incoming resources
These are included in the statement of Financial Activities when they have been received by the the Trust.
Liability Recognition
A liability is recognised as soon as the committee agrees to make the donation or payment.
3 Unrestricted Funds
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
4 Taxation
The Lo-Debar Trust is a registered charity and the charitable tax exemptions are therefore being claimed to the extent that income and / or gains are applicable and applied to charitable purposes only. There exemptions will remain in place as long as income and expenditure is applied to charitable purposes only.
5 Related Party Transactions
There were no related party transactions for the year ended 31 March 2024.
6 Trustees' Remuneration And Benefits
There were no trustee's remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.