LISBURN ENTERPRISE ORGANISATION LIMITED STATEMENT OF FINANCIAL ACTMTIES INCLUDING INCOMEAND EXPENDrruREACCOUNT FOR THE YEAR ENDED 31 DECEhqBER 2022 Unrnstrlctfjd Unrnstrl¢l•d fvnds funds 2022 2021 Nolo8 Chadtable actlvltle$ Investsnants 643,234 907 635,501 1.689 Total Incom• 644,141 637,190 Charltsble a¢tlvllles 544,167 501.509 Net Incomg for tho yeavl Net movernont In funds 99.974 135,681 Fund balances at 1 January 2022 3,874,828 3.539.147 Fund balanc•s at 31 D•c•mbor 2022 3,774,802 3,674.828 The slatem8nt of financljl acllvllleB Includes all galns and Iossas recognlsed ITr Ihe year. All Income and expendlture derlve from contlnulng actlvltses. The stalemenl of flnanclal acllvllles also camplles wlth the requlr8m8nts an Incofflo and expenditure accaunl under the Companles Act 2006. 16-
LISBURN ENTERPRISE ORGANISATION LIMITED BALANCE SHEEr AS AT 31 DECEMBER 2022 2022 2021 Notes Flxod awts Tangible as5els Currnnl as$•t• Debt5 Cash at bank and In hand io 2,944.893 3.073,001 11 21,954 920,034 27.289 719.355 941,988 746.644 Cradltors: amounts falllng du• wlthln on• year 12 (112.079) 1144.8171 Net current assets 829,909 601,827 3,774.802 3.674,828 kncom• fund• Unrostrlcted fundi 3,774,802 3,874,828 3,774.802 3,674,828 These financlal statomenls have tKen prepared In acCOrf8n whh the prnvblons appltcabJ• 1¢ cornpanles subl•cl to tha small companles regime. Tha Itnandal statements wern appmvod by the Trusle•¥ and author1d kn Issua //./ slgned on its behall by: MrA H RO.non (Chalrman) Tntsl Mr N E Eiliott {Flnandal Dlr•cior) Trust•• Company R•glstratlon No. N1024735 -17.
LISBURN ENTERPRISE ORGANISATION LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 2022 2021 Notes ash flows from op•ratlng actlvltlas Cash genernted from operalions 15 207,850 288.330 Inv•sllng actlvltles Purchase of tanglble fixed a15 Investment InLx*me received 17,878) 907 (3.970) 1,689 N•t cash usod In Inv•&tlng actlvltl•s (6,971) (2.281) FlnanGlng actlvltlos Repaymenl of bank l¢ian$ 1155,718) Not cash u•od In flnanclng actlvltl•J (155.718) N•t Inueam In cash and eash •qulval•nts 200,679 130.333 Cash and cash equlvalents at b8glnnlng of year 719,355 589,022 Ca•h and cash •qulvalant8 •t •nd of yoar 920,034 719.355 18-
LISBURN ENTERPRISE ORGANISATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng poll¢los Charlty Inlonnallon Llsbum Enlerprlsè Organtsatlon Llrnltsd 18 a prfvats company timlted ty guardniee IncOrted kn North Ireland. The ragbtored offke18 6 Enterf8o Crexon( Ballhdery Road, Lkbum. CoAntrtm. BT28 28P. 1.1 AcGountlng convantlon Tl Itnanclal statéménts hava been prepared in acctbrdance wllh the charfty's Memt)rnndum and Arttdes of As8oclallon. the Companies Act 2006 arKI 'A¢¢ounting and Reportlng by Charftles: Statement of Recommendod Practlce appllcable to chariles pr9parng thelr accounts In accordance tho Flnanclal Reportkng Standard appllcab18 In th8 UK and Republlc ol Ireland {FRS 102)" (as arnerad for accountlng porfods conNnondng from 1 January 2016}. Th• ¢harty Is a Public Benefi1 Enllty a5 defined by FRS 102. Tha Ilnan¢lal stahm•nts aro prepared kn Btgrflng. ¥thlth Is Ihe fimclbnal cuThenw of Ihe chartty. Mono10ry arnounts In these 1lnanclo1918tements are roun(18d to the noarnst L The Ilnandal stalemgnts hav• been proparad under the hlstoTlcal cost convanuon. Tho prlndpal accounllng pollcl85 qdopled ar8 below. 1.2 Golng ¢onc•rn Al the tlme ol approvlno th• financlal stalements, the trustees have a reasonable •xpectatlM that the charfty has adequate resources to contlnue In operatlonal exl$igneA for the foreseeable luture. Thul the tru8t8e5 contlnuo to adopt the golng concem basls of accounung In Pre9 the financlal statements. 1.3 Charttablo funds Unrestrktod funds are avalleble lor uso al th? d18crallon of th• trustees In (urthernnce ol the* tharltsb objactlves. D•$lgnated funds comprlse urnstrlcled funds that have bean sat 8sld8 by tho tru8t¢es for PBrtthlar puwes. Tho 8kn and use of each deslgnaled fund Is sel out In tho fK>te8 to tho thanci81 slalomgnlB. Grants reIved to fund capllal expendlture aro transleffed to deJlgn8ted funds frorn restrided fund$ ¥4th•n expended and thon r•l•a$•d to general furKl& over th• rglatod a858t¥' useful economlc Iff•. 1.4 Incomlng r•Bou•S Income Is recognlsed when the charity ts legally enliued toll aftarany performa0 condttions have ts0 mol, the amounts can bo measured rellabty. and M Is prDbabk that income VAII be recelved, Inccffilng resourcej from tharflatle aciNltles (xThprlses Il¢e8 fe8 Income, pmgramme Incorne, admlnEstrativ8 servlces Income and consultancy. Income 1$ defeThed when tt d08s not meat the crllerfa for recognttkjn Incomlng resources kn the Slatement ol Flnanclal Actfvitkns, as entllloment lo the IrKom4ng resour¢¢ does not exlst at the balance sheet date. Intorest on fvnds held on deposll Is Induded when rncelvable and the amount can be measured rellabty by the charity: thls Is normalty upon notlfication of Ihe Interest paKI or payable by lh8 bank. 19-
LISBURN ENTERPRISE ORGANISATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng pollc105 (Contlnu8d) 1.5 Rasourcès èxpondad All expendltura Is accounted on an accruals basls and has been Glassllled under headlngs that aggregate all COBts relaled to Ihe calegfjy. Exp6ndlture Is recognls811 where Ih8r8 l¥ a leg81 or constructiv8 obllgation to make payments to Ihlrd partles, it Is probabla Ihat the sewoment wlll be requlred and the amounl of the obllgatlon can b8 measured rollably. It Is categorlsad under ono of the followlng headlngs: Costs ol ralslng funds. Expendlture on ¢haritable acllvltles and Olher expendltur8. Support costs ar• t180 that as$lsl thè work of the chaty but do not dlrectty reprnsent tharllable actlvhles and include office costs. governan costs, depreclatlon COBts and admSni5trative payroll costs. They are Incurred dlrectly In support of expendllure on the objects of the charlty and Includ8 project rnanagement carried out at the office. Offlce costs. depreclation ujsts, govemance costs and payroll costs aro allocated lo charitablo acdvltlaE baséd on percantago of tumovef. The allocatlon ol xupport ¢osts Is analysad In no¢e 7. 1.6 Tanglble flxed •ss•ts Tanglble fixed assats ar• InIallY m8asur8d at cost and subsequently measured at Cost or valuali¢Jn, net of deprBclatlon w*d any Impalmient10g$09. D8proclallon Is recognl$ed so 85 to wrttg off the cost or valuatlon ol a8s9ts1o9S thelr iesldual values over thalr useful Ilves on the follovAng base5". Frèehold buSldlngs Plant ond equlpm•nt Flxtures and frtungg 3% Stralghl Ilne 10% Reduclng balan¢0 25% Reduclng balance The gaSn gr loss arfslng on tho dlspojal of an a5sel Is detemlned as the drfference between the Bala proceeds and the carylng value of the asset, and Is recognlsed In the stalement of financlal activllles. 1.7 Impalrnient of flx•d ass•ts At each r8POrtlng end dale, Ihe ¢harftab18 company rovlews the carrylng amounb of Its tanglble assets to detemilne whether th?re 1$ any Indicatlon tr>al Ihose assets havo suffered an Smpalrnient loss. If any such IndItIOn exists. the r•cov•rable amount of the asset Is estlmaled In order lo detemilne the 8Xtenl of the Impalment toss (If any). 1.8 Cash and cash •qulval•nls Cash and cash equlval&nts Include cash In harml. deposits held at call wlth bank5. other short-lerm Ilquld Inveslrnenls wllh orlginal malurltles of Ihree mnths Dr less, and bank ovardrafts. Bank overdtalts are shown wllhln bOrrOng$ kn cuffenl 1labll18S. 1.9 Flnanclal Instrumonts The charlty has electgd to apply the provlslon5 of Sectlon 11 'Baglc Flnanclal Instruments. and Secllon 12 'Oth8r Flnandal Instruments Issues, of FRS 102 to all of Its flnanclal Instruments. Flnanclal instnjments are racognised In the charitys balance sh88t when the charity becomes party to the contractual provlsbons of the In$tNment. Flnanclal a5S8ts and Ilabllttle5 are off501, wllh tho n81 amounts pr8sented in the financlal statements. when there Is a legally enforceable right to sel off Ihe rBcognlsed amounts and there15 an Inlentlon to settle on net basls or io reallse the a53et and settle thg liability slmultaneously.
USBURN ENTERPRISE ORGANISATION LIMrrED NOTES TO THE FINANCFAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 AceountlTrg pollclos (Conllnu•d) 8•sk flnanclalassots 8a3lc financlal assets. whlch Indude debtors and cash and bank balanc8$. are 1n1t1al measured at transa¢llon prfce Includlng transactson costs and are stsbs8quenUy caThled at 8morllsed cost uslng the effective Inler85t method unless the aTrangement conslltuies a flnanclng transac1k, vthere U)e transadon Is measured al the present value of the future reeIpts discounted at a market rale of knteresl. Flnanclal asBets classified as recelvable wlthln on? year are not amortl8ad. 8ulc flnaftclalllablllues Basic fanCl Ilabllltses. Indudlng (x8dltor5 and bank108ns ar8 Inttlally rec¢)gnlsed at transactlon prlco unle the affangemenl c(JnsUtutes a finanang tran5actlan. where th8 debt Instrument is measured at th8 present value of the luturo payments dls¢ounled at a market rate of InteresL FknancLql11obilitles classlfl8d as payabl8 wllhln one year aro nol 8mortlsed. Oebt knstrumanls are subsequanty led JI amorllsed cos( uslng the affect Interest rate method. Trade credltors ore obllgailons to pay for goods or seNIces that have acqulred In the ardlnary Cou9 of operatlons frt)m suppllews. Ajnounts payable are cl8sslfi8d as current Ilablllllos If payment Is due wlthln on• year or l&rys. U not, Ihay aro presented a8 non•curr8nt Ilabllltles, Trnde credllors are recognlsed Inltlally at transathn prtce and 8ubgequonty ffleasuled at amothed cost uslfVJ the effectlv• Inlerest m•thod. D•r•¢oqnldon olflnanclal IlabHltles Financlal Ilabllltles ara dergcognlsod when the tharlty$ cuntractual obllgations explr• of arn dlscharged or ¢anceNed. 1.10 Employ•e bqneflts Tho cost of •ny unused hollday tI1•montI5 recognlsed In Ihe perbd In whlch the employg8'$ 8oMces are recelved. TalTratIon ben81]ts are recognlsèd Immedlatttly 89 an expense when the charlty ig d•monstrabty ¢ommltted to temiinate the employment of an •mployee ¢x lo provlde temilnallon benefits. 1.11 R•tlrnment ben¥fits Payrnonts lo defined conlrtsutlon r•llr•m•nt ben8fft 8cheme8 are charged as an expense as th•y lall due. Grltlcal accountlng •Stlm•t•8 and Judg•m•nl• In Ihe appltcatlrm ol tha charity's accountlng polldes. the trustees are requlred to make Judgemenis. esllrnates and assumptlons about the eaffylng amounl of assets and Ilabllltkns Ihat aTO not readlEy apparent from other sources. The eslimales and assodaled assumptlons are based on hislorfcal experlence and olh¢r factorn that are constd8r8d to bo rol•vanL Pdual resulls may dlffer Irom Ihe8e eslimate8. estlmates and underlylrvJ assump5 are reNiewed on an ongoing basls. Revislons to accountkng estimates are recognlsed in the period In whlch the astnate k8 rnvlsed 4there the revlslon affeds only Ihat P8rlod, or tn lh8 P8rfod of tha rnvision and fulvre perlods where the revtslon affects both ¢urrenl and future pedods. 21
LISBURN ENTERPRISE ORGANISATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Crlllcal accountlng ostlnMt•$ and Judgenwnts Icontlnued) K•y sourcès of estlmatlon uncartalnty Flxed As** The annual depr8dallon charge on fixed assets depends marilY on Ihe estimaled lives of each type ol asset and esllmat85 of resldual values, The trustees r8gularfy review theso assets Ilves and change them as necessary lo refloct current Ihlnkkng on rernainlng Ilves In Ilght of prospeclivg 8corMJmlc ullllsation and physlcal condition of the assets concemod. Changes In asset5 livgs can have a signifleant impact on deprecialfjon charges for lh8 perfod. Delall of the u59tul lives 1$ Included In the accoun16ng pDltles. Re3trlct•d and unrnstrlct•d funds Judgement are made In relatsn to allocallon of income and exp8ndllur8 lo rgstrfcted and unrostrictod fvnds. The tnjslees consider It appropréate lo allocate th888 funds based on donations r8celved. Charltabh actlvltles Unrostrlct•d funds Unrestrfctad fund$ 2021 2022 Progrnmme and consultancy Income Llcenca fee Incom8 SacretarSal and other serylcog 46,006 542,285 54,943 61.077 534,486 39,938 643,234 635,501 Inv••tments Unrestrfctod Unreslrbcted fund¢ fund$ 2022 2021 llllerest receNable 1.6B9
LISBURN ENTERPRISE ORGANISATION LIMITED NOTES TO THE HNANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Charftabl• aGttvltl•s 2021 Stsff cosls Depreclatlon and Impairmant Prnornmmo oxpendlturo Rates Insurnnc• H•al and Ilght Repalro and ronawals Equlprnenl maintenance Prinllng. postsga and 8tallonory Waste dlsposal Secvvty ser¥k• Genernl expensos Bad debts Tfalnlng & dOl0nent CleanSng Adv8rt1slng Telephone Computer costs Hlrn of eqUlprn Motor & travel 8ank tharges 8ank internst InatIOnS Subs(xlptlons Profil or loss on sth of langlblo ofjjets 149.158 135.984 13,153 15a,657 136,901 27,019 4,800 17.505 46,307 35,498 9.325 1.711 17,357 2,563 7,902 18,497 74,183 57,375 12,397 6,502 14.951 2.495 10.646 113 1,024 14,406 425 3.241 9,437 1,391 5,917 2,860 7.757 435 3,748 8,287 1.388 7,312 .121 238 100 370 15 138 637.082 495,174 Sharn of govemanco costs {sae note 7) 6235 $44,167 501.509 Anatysls ty fund Unrestricted funds $44,167 $44,167 For tho yoar endéd 31 Doumb•r 2021 Unreslrfcted funds So109 501,50g -23-
LISBURN ENTERPRISE ORGANISATION UMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Descrfptlon of charltable acllvlllos Urban and conomlc Al charltable adlvltie5 focus on the promollon ol urban and econo¢ regeneratton In Ihg Greater Ll$bum area. Support costs Support Gov•manc• costs 2022 2021 Audlt f809 Legal and profosslonal 3.685 3,400 3.685 3.400 3,160 3,175 7,085 6,335 Analysed babNeen Chadlablo acil%fjtlo5 7,085 7,085 6,335 Govemanco costs In¢lud•s payments to tho audft*3rn of£3.685 {2021- £3.160) for 8udlt f883. Tru¥tO•S None of the trustees (or any perBons connected wtth th8rn) recelved any remunerallon or b•nefits from lh• charfty during the year. Employe•8 The averagg monthly number of employees drIng th• year was.. 2022 Numb 2021 Numb•r AflrnlStrauon Employmgnt cogls 2022 2021 Wages and salades Soclal s8curlty costs Othar penslon costs 135,463 9,758 3,937 136.688 9.761 4,208 149,158 150.657 -24-
LISBURN ENTERPRISE ORGANISATION LIMITED NOTES TO THE FINANCIAL STATEMENTS {coKnNUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Employ•es {Contlnu•dl The numbar of emthee3 those annual remunerath?n was £60.000 or morn were: 2022 Numb•r 2021 Nurnbor £60.000- £70.000 10 Tanglbl• IlxDd w•1• Fwhold buMdkng• Pl•nt and PIXtu •qulpm•nt Cost At 1 January 2022 Addttlon8 6,248.923 3,748 116,283 175,231 4,130 6,$40,437 7,878 At 31 De(mbor 2022 6.252.671 116,283 179,381 6,548.315 D•prnelatlDn and Impalrm•nt At l January 2022 Depre¢SJllon chargad In the yoar 3,208.796 130,828 98,108 1,837 162.534 3.319 3,467,438 135,984 Al 31 Dacefflber 2022 3.337.624 99.945 185053 3.603.422 Carylng amount At 31 D¢cemb•r 2022 2,915,047 16.338 13,508 2,944,893 At 31 Do¢onth•r 2021 3.042,128 18,175 12.898 3,073.001 11 O•blorn 2022 2021 Amounts falllng du• wlthln on• y•ar. Trade debtors Other deblorn Prepayrnents aThJ accrued Incomè 17,140 286 13,027 7.098 7,164 21.954 27,289 -25.
LISBURN ENTERPRISE ORGANISATION UMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 12 Crndllors: amounts falllng due wlthln one ar 2022 2021 Other taxatlon and soclal securfty Trade credltors Other cradllors A¢cTuals and deferred In¢om8 25,205 9.n2 59,185 17,977 22.029 32,347 56,253 34,188 112,079 144,817 13 Op•rnUng lea¥• MMItments At the reportlng end date the charfty had oulslandlng commltments for future mlnlmuffl lea68 payments under nonvcancellablo operdllng leases, whkh fam as follows; 2022 2021 Wlthln one year Balwggn hvo and fve yearn 5,495 713 5,495 6,207 6,208 11,702 14 Rolat•d party lrnn•actlons R•rnunoratlon of kéy managomeiit por50nn•l The remuneratlon ol key management peOnnel Is as follows, 2022 2021 Aggrngats compensatlon 90,335 79,101 The charity conslders Its kay managam8nl personnel to comprise of Ihe chlof oxfjcutfve officer and senlor bu51ness advlsor.
LISBURN ENTERPRISE ORGANISATION UMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 15 Cash g•n•ratsd from op•raUtsns 2022 2021 Surp$ for the y8ar 99.974 135.681 Adfvslments for Investmenl In(x)me recolsed In glatThnt of finandal ocllvltie8 (GalnyIo89 1)n dl8pogal of tanglble fixed awts D•pTeclakn and ImpalMnt of tanglble fflxed assets (907) {1,6891 15 136.901 135.984 Movements In worklng opttd". Drna80 In debt (Demg•Yin(xeaB• h credltors 5,335 (32,736) 278 17,144 Ca8h 9•n•rat•d from op•ratloThs 207,650 288,330 16 Analys1$ of changas In net funds Tho chty had no debt the year.