USBURN ENTERPRISE ORGANISATION LIMITED TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 The TTusaes prosent thelr annual report and fmanclal statoments for the year ded 310ecember 2022. The financlal Statements have been prepared In accordance wllh the accountlng pollctos set out In note 1 to th• financlal stalements and compty wtlh the charitys Memorandum and Arttcles of Assoclat1¢, the Componles Act 2006 and "AcentIng and Reportlng by Charltfes: Slalement of Recommended Pra¢llce appllcab18 lo charltl88 preparlng ihelr ac(x)unts In accordanco wlth the FInanc[ Reportlng Standard appIlblO In the UK arKI Republc of IralarKI (FRS 102}- {effecllvé 1 January 2019) Chalrnian's For•word Welcorne lo the 2022 Annual Rgvlew of the actMll81 of Usbum Enterts0 Organlsatlt)n, presented on boham of the LEO Boanl ol Dlrectorn. Thls yaar ha5 been an extremgly busy year for the organlsation whlth has Included Ihe ¢onllnLwd Supp to buslnasses through the provlsknn of advlce. buslnas$ 8UPPOrt Inbtlatlve6 and workspace. Provkllng buslno$9 support Inltiattves to 8splflng, startp and exlstlng 8ntrepreneurs wlthln the groater Llsbu arna remalns a key objective for the organlsatton. Thls year our BusSness Advisory team have continugd lo dellvw a rang8 of buslness 9UPPOrt Inlllatlve5 such as Explorfng Enterprtse, Go For It and r)ur own fundad Inlttlv•. MY knr. LEO has contlrnigd to develop partnershlps olhor organlsallon$ Ihroughout Ihe year. Durtng the year w8 also hlghHghted the Issues faGkno our local entrepreneurn and as we faced uncertalnty around fundlng wllh the endlng ol European lundlng In 2023, we met with MLts lo ral8e concems. As Ihe provlslon of work$pace unlts and Grade A offlce faclllttes at favourable economlc rotes contlnugs to und8Tpln many of the charltablt acttvflies of LEO. l am dellghled to report U1 by Dgcember 2022 o¢¢upancy l•vfjlg at lh• sRe wern 100%. Thè excellent success, perfoThance and achlevem8nls ol LEO Is dug to the dethcollon of ow slaff team lad by our Chlel Executlve, Martlna Crawford. On behall of the 8Dard. I wlsh to our thank8 lo them. l al80 would Ilka to tako Ihls opportunlty to thank our 8oarf of Olrectorn for th•lr conlknued suppart. LEO'8 ¥UCCgB5 Is a resum of tholr Indlvldual and coHective ci)ntbull0nS whlch have enabled LEO lo malntakn hlgh ¥tandard$ ol seNlce arKI p8rfomiancg. A8 wa leam lo nevlgate th• many Challenges we arn faced Wbth In buslness. from uncertalnty of progrdmmo lunding to tslng costs. LEO wlll conunue ta Invest in the future ol thè organlsalion and lo fulfrf (r tharitsble obJactlva8 for Ll¥bum and the greater local area.
LISBURN ENTERPRISE ORGANISATION LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORV REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 ObJKtlves and actlvltJ•$ LEO'S maln act¢vltles and beneficiarie5 are detailed in Ihls report. All of our charitable actlvities focu5 on the omollon of urban econornic regeneration In the Greater Lisbum area and are Intended to further our charitable purpose for th8 public b8nefil. Evary actlvlty Is assessed In respect of Its knpacl on beneficlarfes and its contrlbullon to thaTttabl8 actNrUes so that Trustees may delemiine the best allocatlon af resources. The oblectlves of tho cfiarfty kndude the promotion of an entrepronoudal cultuT•. support for buslness slart-ups and m8chan15ms to encourage exlsllng business development. In the course of promollng an entr8preneurfal culturg and oflerfng support 58rylces to n8w and exlstlng buslne558s, the Charity make5 a contrrbutson lo the following charllablo purposes: The rellef of povety; b. The rell8f of unemploymgnl, Indudlng asslstanco lo the unemployed lo Ilnd employment; The advancèment of 8ducalk>n. tralnlng or r8tsalnlng, partlcularty among uTromployod people, and provldlny unemployed people wlth work experfence; d. The PS5on of financlal asslstance. technlcal asslstance or buslness advlce or Consultancy Sn ord8f to provlde tralnlng and employment opportunltles for unemployed people in cases of financlal or othgr charltable need Ihrough help.. (l) In sotting up thglr own buslness. or 111) to 8xlsllng buslnesses: and The ¢reatlon of tralnlng and empk)ym8nl opportunltles by the provlslon of workspace, bulldlngs andl or IAnd for uso on favourable l&m¥. Publ1¢ 8on•fft Th• Tru8tee$ h•v• had ragard lo the Charlty CLYnmlGslon Guldanca an publlc benellt In th• Charltl88 Act 2011. The PL5bllc borneflt of our ¢haritabl6 purpose5 Qf advanclno d11zensh and communlty dgvelopmenl through th• promollon of urban rng8n•rntlon In Usbum are a5 follows.. Th8 rell8f of poverty Ihrough Increased opportunllles to learn, traln and be succesBful In ottalnlng pald employment locally., A reductlon In un8mploymL because of enhanced opportunttle8 to skIll, galn work experlence and attoln pald-for lob po8ltlons', An Increase In the numb8r of Indlgenou5 buslnesse5 eslabllshed: An Increase In th8 suNival Tates ol buslness Start-ups as a restsll of Ihe attvlce, tralnlng & mentorlng recelved; An Improvement In ihe skllls and experlence of the local resld8nt population 80 that Llsburn becornes an attractlv8 dgslinatlon for bu5ine5ses lo locale. thus providlng more opportunltles for pald Jobs. skllls and expeNen¢e: An enlargement of the local economy by provfdlng support to bu51n8sses lo bpwme su5taSnable and prosper thu5 employlng more people locally who's wages when spent localty, sustaln many more buslnesses: The enhanced access to support slruclures maklng It 8asier for people to access advlce, tsalnlng & mentoring in entr&prengur5hlp & buslness sklll8: and The a(fvancem8nt In awareness of enlerprfs8 as a vlable career optlon. Those benefits are evldenced tn a number ol ways. both In the collectlon of prfmary data and th8 revlew of iftd8pondenUy produced statlstks. Li5bum Ent8ry)rise Organlsatlon wa5 formally r8glstered with Ihe Charity Commlsslon Nl on 13 February 2015 havlng bèen confirnied by the Commlsslon lo exlst for charitable purposes and the public benefft. The tmsle85 have pald due ward to guldance issued by the Charlty Commlsslon In d8clding what act[lieS the ¢h8rity shoukl undertake.
LISBURN ENTERPRISE ORGANISATION LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Achlevements and p•rfomianc• Ent•ryrfs•Awareness A kay fealure of the work at Llsbum Entprprlse Organlsallon 15 thè Promotknn ol an enterpdse culture and the undertaking ol awar8n055 ra15ing aclivitles to hlghlwl tho OPPOrtunlty o15ell•employment and Ixtstn89¥ Start-up. The latest Gk)bal Entrepreneutshl) Monltor (20211 provlde$ on rnsbhl Into entreprfjneur actF¥ity at natlonal an Intematwal levels. Tolal Earfy-slage Enlrepren¢uTlal Acttvlty (fEA> rate¥ In 2021 wer8 not 8lgnlfi¢antty dlfferent across the UK wlth 11.8% In England, 10.3% In Wales, 9.5% In Scotland afKI 9.1% In Northem Ireland. There appearn lo bo slgniftsnt gn7wth kn 2021 TEA rates whlch may be albul8d to 8 Postponement of startThUP decisiL$ from 2020. The rnte of total eaty4tage ontrepreneurshlp actIty (TEA) In Morth¢m Iroland In 2020 was 5.4% and 6.8% In 2019. The TEA rdte In Northem Ireland of 9.1% reported In 2021 is therefore a consldwable Incrtrase on pie pandemlc levelg. During the ygor the 8uslness Advlsory tearn contlnued lo provld8 guldanco ond support to 1nd1vid[S consldering seV-employmenL Busln8ss advise also engaged with the Jobs and Baneflts offlca and Communlty Ofpanlsatlons to promote the opporlunltles afftKded by entrepreneurshlp. Other acllvllles Induded the ho8n9 of buslnesB slart-up cllnlcs and PICIpatIng In ¢ag0 Studles to hIgh1h1 entrepreneurship a$ a carner optlon. Th)lhoUt the year LEO al *YJrkod Thè Sclence Shop h Qu•.3 Unlvorsty Bell88t to spoftr a post gradualo sludent undertaklng rnsearch Into 8nlroprnn8ur5hlp. The findlngs of tlts researth wlll asslst the oryanlsadon In the development of 8pproprlaie eDtrepreneur¥hlp support ond ant8se awar•nes8 ralslng acties. Busln•ss St•rt Up Explorlng Ent•rprl•• Deslgned for indSvlduals who wlsh to explore the optlans of self.empbyment, educatlon, tralnlng and employThent, Explodng Enterprfse brldges 8 gap In the provlslon ol entarpse support. The pmgrnmmo asslsts Indwlduals are unemployed or worklng less than 16 hour5 p•r week and hav• an knlernst ITh self-employment INt aro not ready to start up. A range ol othar optlon8 are a180 expI(Yqd wllh Indfvlduah as further tralnlng, •ducaikJn or ffindlng employment. Partldponts recelve trnlnlng and mentorfng on a rnnge cf areas to help them Increase thelr knowledge ol seff- employTn8nt and build thelr confldence. Delivered by a dedkated Business Advlser. partl¢lpants are equlpped wllh th• skllls and Conf9nce ID Start tholr own buslness or tsko lh• firJl oleps to flndlng employment. The ogramm• also wovldes parlklpants wlth Itkg OPPOrtunlty lo work towards an OCN qualifallOn In Underntandlng Buslness Ente1188. Durfng tho ar 5 Indlvldual8 partlclpated on the programme. FollowlThJ COVID Ihe team wern dellghted to gat back to dellverlng In person W4yk$hops and mentorfng sesslcTh. Dolfvered localty ty LEO BuneSS Ad¥lsers, the Explorlng Enterprlse Inltlallve 1$ part-lunded Ihrough the Northem Ireland European Sodal Fund PrOgrnme 2014-20, the Department ¢1 the Economy and Local Enlwprtse Agenck3.
LISBURN ENTERPRISE ORGANISATION UMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 8usln•ss start up (contlnugdj Go For It start a Buslnoss Progrnmme The Go For It Programme provlde5 the opportunlty for budding entrepreneurs to avall of professlonal buslnoss advice and tailored buslne55 Start-up menlorfng and support from a Business Adviser to help progress thelr buslness Idea. Indivlduals can tak8 th9 steps along thelr entrepreneurfal loumay by clarifying thelr Idga wlth an axpert Business Advlser. devetopkng a comprehenslve buslne55 plan and partlclpaling n business sklllB workshopg. The programme Is doltvered frae of chaTga to partlclpants through Northem Ireland's wlde n8lwork ol Enlarprfse Agencles hlghly 8xperienced Busln8ss Advisers. Lisbum Enterprfse Ovsanlsatlon dellv8r the progrdmm? ltrAIIy In PartnehIp wtth Llsbum and Casuereagh Clty Council, Go lor It Is part-fund8d by Invest Northam Irolond and the Europe8n Reglonal Development Fund under the Invaslmenl fur Growlh & Jobs Norlhem Ireland {2014 - 20201 Progrdmm8. LEO Buslness Advisers offered buslnoss advlce throughout Ihe year lo over 160 Indlvlduals who wlshed to explorg a buslness Idea. The team also worked wlth asplrlng ¢ntrepren8ur5 to dellver buslne5s start-up menlorfng and developed 104 buslness plans vibth entrnpraneur8 to help them get a bu61n8ss Idea off the 9und. Local entrepreneuTr, Tony Murphy and Joe Murphy avallad of the Go For11 programme when they decldad to laun¢h thelr custom w00dvrkIng furnltura buslness. Aldenvood Studlos, In Llslwrn. Havlng spotted a gap In the market for custom rnada epoxy resln tables comblned wlth a passicn for woodWolg and njnnlng thalr own buslness together. Ihe bmlhers appToach•d the Go lor It programm• ft>r a33lstance. Commenllng on th8 SUPPOrt recelved. Jog notes that, Tr Go For It Programme held us In varlouts way5. Flrsl of all,11 gave us confidence that there Ivas a market for what We W8re dolng.. Tony also adds, Yh8 buslness plan really helped start us off In the rlght directlon and we stlll refer back toll today. It also has set U5 up for luture fundlnp N wo need It. 80 ts really Invaslmont Mendv. St#rt H•r Up The Start Her Up pwramrne encoLraged women aged 1840 years old to launch thelr bu$ln•sg Idea and wal dallvered by Enterprlse Northern Ireland memb8r5 In partnorshlp wlth Ulster 8ank. F8m81e entrepren8urs Partlclpatlng on the prograrnme h8d th8 opportunty to avall of a bespoke personal d8velopment actlon plan, a serfes of workshops and ffl8ntorlng to help bulld awaTeDess ol self.employmertl and bulld the confidence to start up and grow thelr venlurè. The programme completed wlth partl¢Spants havlw Ihe opportunty lo wln up to a £1.¢JOO Inconlve to take tholr buslnes8 to the next level. LEO wer8 dellghted to host a roadshow and provld8 mentorlng as part of th15 Inltlatbve. support Network for Soclal Entropren8urs ISUNSE) The Support N8hYork for Soclal Entrepreneurs ISUNSE) delsvwed tralnlng, workshops and networklng events to new and exlsung soclal enlerprfses throughout th8 Llsbum and Ca$li8reagh Clty Councll area. Jolnuy funded by Llsbum and Castlereagh City Councll and th8 EU Interreg North Wast Europe programme. Ihe progranirne was delivered by Developmenl TNsts Nl. Durlng the year LEO worf(ed In paTtner5hlp wlth Developmpnt Trusts Nl to asslst In the dellvery ol thls Initlatlve through the provlslon of busine55 menloring to iwo exlstlng social gnterprises In the Llsbum and Castigreagh Clty Council Jreo.
LISBURN ENTERPRISE ORGANISATION LIMITED TrUSTEES' REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 8u$ln•ss start up (Mntlnuedj MY Advlsgr The MY Advlser programme Is an knltlative that Is fijly funded by LEO and provldes start-up enlrepreneurn In Iho Llsbum area are tradlng less than 18 monlh$, Ihe opportunlty io avam of an&t0ne buslness mentoring support and MY Neiwork ¢al¢h up events. SuGh support has beon beneficial to entrewen9u to asstst them In getttng th8lr btssin8s3 up and running. Tho programme pmvkles tallored busit)oss mentorfng support to each partlcipant over th8 fAJUTre ol a 124nonlh perkMI along6lde the oppthjnty to nelwork wth olhor start-up buslness each partkwnt asslgned thelr (Ayn dedlcated Buslne8s AdNiser ¥¥ho WHI devel a bespokè menlorlng actlon plan and dellver mentorfng to Ihe cllent Ovgr the 12wmonlh pèriod. Th8 programme focus8s on th8 buildlng of entrepreneurfal sk1115 and SIn ¢onfidenc• through the combFnatlon of montrylng and monthly MY Notwork workshops, Monthty MY Nafyvork av8llt5 provlde partlclpants wlth th• opportunlty to develop buslne¥¥ sklls whllo bulldlng thelr neI*Tk of Support wlth other local entreprenwr¥. Throughout the year 8 MY Network Vrt(ShopS took pl3ce. Those events focused on a ranga of topi from Vl content creatlon. Custtxnor loumey, HMRC compllan¢e, Qulcklx+Q, Cfv SeuJTity. Reslllgnco for buslne¥8, Bbggln9 and Goal Settlng. By th• end ol D9Mber, 14 partldpants warn •nrolled th• programmo and avamlng ol talored ono to onè buslnau montorfng and n¢lworklng rkShOps. SIr8 2018 a total 01 71 kndlvklvals have avalled of support Ihrough tho pmgramme. ThIB Indud8$ 6 entsBpreneurn 4th0 recelyad Support In tho lorm of subsldl3ed workBpaco and vlrlual officv accommOdan. Busln•ss D•v•lopn7•nl Cfrlnnoval• Support•d by the Eu's INTERREG VA Pmgrnmme and manag9d by Ihe Speclal EU Programmo$ Body {SEUP8). the Co.Innovate Inltlallve was deslgned to support SMES In Northem IrpIar, the Border Reglon of Ireland and We3t8m Scouand. The prfmary alm of th8 Inlttadve was to gtve SMES and MICrbuSInesSes 4CCO89 to innovatlon cgpablllty dovolopment and help to Implement enhanced rasearch and Innovatkm actlvty o Focuslng on helplng Iw$ln•sses dlseavar how Innovatlon can b• Impl8menlad rfght across a buslness. C Innoval• Fwvldvd parCIPanIS wlth lh• opportunlty to avall ol work•hops. busSngs8 Bs8eBThnt•, Inn<>veOn 4udlts, expert mentorfng and collaborallons wlth academla and buslness to buslnoss projects. Oudng 2022 the Ctrlnnovate programme cornpleted. Usbum EnteTprfse Organlsallon wer8 dellghled to be delivery partner ol th15 very success1 Inltlalive bthlch recognlsed that nUrfD9 innovatlve Ideas could lead to bUs1r$S growth arKI suxesg. From Its Inceptton, 32 buslness•s In the Llsljum and Caslloreagh Clty Coundl area partklp8ted cm th8 progrnmme to assess thelr Innovalkn readlD9s5. Rewgnlsing that busln8sses have differènt Innovation needs. the3e buslness95 wer8 able to avall ol workshop5, InncvatSon assessments apply to Trceive further expert mentoring io h8lp hèmess hnovatlon In thelr buslness.
LISBURN ENTERPRISE ORGANISATION LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YeAR ENDED 31 DECEMBER 2022 8usln•ss Dov•lopment (eontlnuod) R¢sourc• Matchlng Workshop Resourco malchlng provides an opportunity lo transfar buslness waste, unwanted materlals and bFproducls from one buslness or organi5ation to be reused. recycled. reprocessed and repackaged by anolher. Thls year LEO worn d81ighlod to partngr with Intem8tional Synergies Nl to host a rosource matchkng Infornallon 585slon lor IoG81 businesse5. At Iha sesslon dolegales were Introduced to the Invest Northem Ireland Rgsource Malchlng Serylce and teamed how th15 frge seTh6Ge can help companles b8nefil from our gfDwlng clrcular economy. Followlng on from the sesslon. buslngsses had the opportunity to recefve a free consullalion vlslt from a 5uslalnable buslness consultanl lo help Identify praGtlcal cost saving In day to day operabons as wall as reduclng carbon footprfnl. 8u¥lness Support Workspaeo At the centre we have 85,000 sq. ft of nexiblo workspace aCC(modatIOft whlch compTlse5 of Ilght Irxlustrfal untt5 and hlgh-lech offlces. Entrepreneur5 are provlded wlth a cholce oi naxlbl8 workspace to meet thelr bu51n88S negds. Tem15 In¢lude a tlèxlble lIcen agreamenl Ihat can be lemilnaled wlth a mlnlmum of 30 day5, notice, slng19 all In¢lu$lve Ilcencg fee that Includ4s slte securfty, wasle dlsposal and grounds rnalntenance and access to on-slle admlnlstrailon and buslness support fundons. Durfng the year occupancy figuros Ihroughout the 9119 rem81ned hlgh wllh 100% occupancy recorded In Docgmbor 2022, brfnglng th• l¢lal number of bu8lne$sgs tradlng from th• slt8 lo one hundrnd and ftfty and provldlng employment fly almost 550 p8opIe. As part of LEO'S oommltment lo tha envlronmenl, the Organlsallon Is Pleased to report that wasle reductlon and recydlng 1nlll81fv95 durlng the ygar conlrfbuted to 70 lonnes of wa5t• belng diverted from kndfill. Vlrtual Offlc• Facllltl•s By the end of the year H bufjlnesses wern taklng advantage ol the vlrtual offica facllttles offered by LEO, These servlces allow tha busln855 owner lo present a professlonal Imag8 wh115t keeplng overhead8 low. Buslnesses wer8 offered a commerdal rnalllng addr885 and rather than Incur the cosl of a full.lime raceptlonlst, th8 LEO admlDlslratlv8 team provkled personallsed call handllng sepiices to these cllents. Conforon¢o Facllllles Th1$ year we seen a move back to In person meetlngs lollowlng the pandemlc and a3 a result demand for our meellng rooms and con(erenc8 facllllles incread wlth a total of 132 roorn hlre meellng5 facllilaled dudng the ygaf. Accesslng Flnanc• LEO Is an officlal and pn)wactive Delivery P8rtn8r of th8 Start Up Loan5 Company and the Nl Small Buslne5S Loan Fund. In 2022 these two loan funds wrnmitted £70,000 In bans lo 4 Llsbum based busln85585 and entrepreneurs. During ihe year LEO were also delighted lo dellvgr buslnass menlorfng to clients reGelved a loan through the S¢art Up loans Cornpany.
USBURN ENTERPRISE ORGANISATION LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORn (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Buslnes$ support (con(InuedJ Co.opgrallon & Partnershlp An IntrlnGl¢ part of LEO'S charttable aclMtle5 Is the snIfiCant ¢(tributIOn made by TTUSt8es and staff to a rnnge of other Inkn wlthin the clty of Llsbum and furlher afiald. The partnershlp wlh Fu51on Theatre Company conllnued throughovt the y•or. Fuslon provkl86 an opportunty for youth aged 8-21 frorn all backgrourKls to engage In the colle1Ve and Induslv8 woduetlon of hlghquallty musl¢al Iheatre, thus butldlng personal and employabHIty $kllls. Followlng COVID theatre pr0CtionS wern halted. 11 was gmat that once agaln Fuslon broughl an outstandlng perfonnanc8 this year to dellghtgd audiences wlth thelr pruductlon of The Mdwms Famlly. The Board of Dlrectors welcomes tho relthnshb that exl8ts whh ow prlmary ente88 and ecnnoml¢ doveloprnent paithers Llst>um & Casttereagh Clty Coundl. Enl8fpTIs8 Northern Ireland and Invest Nl. Thls year LEO promoted severnl buslness growth Inrtlatlves and netWong events on bohalf of tho Couwl. LEO rèmalns a dynamlc and anthuslastic memb9r of EnterpTl88 Northem Ireland and Is represented on the organisetlon's Board. LEO d814ver many ENI Inlllallves io local entrepreneurs and engura that Ihe Issugs faclng mlcro and SMES am rn15ed at a gownrnt level. Tha organlsatlon rnakntaln8 strong Ilnks wlth Llsbum Chamber ol C>nm•rc• and the Boord of Dlractorn r• dollghtod lo ottend the Llsbum Chamber Dfjnnor Ihls year 8t La Mon House Hotol. LEO conUnue8 to wwk alowsSd8 tho Bank ol England. •nsurlng tha expwlence of LSsbum bu8ln8sseg 19 f8pr8sented In Ihe a¢(OrnIC 8nd finandal Intelllgence gatherod by Bank of England Agents. Thls In turn help8 Infomi declslons made by the Monetary PcY clMittee. the Flnanclal Policy Commltteè and th• Prud•nU•l Regvlallon Auth. Flnanclal r•vlow The charlty relurned net tncomlng resourcos 01 £99,974 (2021- £135.8811. of whlch all were unrnstrlet. At 31 09¢gmber 2022. the level of unrestrfcled resepie$ held was E3,774.802 (2021- £3.674.828). The prfmory o¥ectNa ofthe LEO Reserv88 Pollcyls lo rolaln a level of free res•rve8 whlch matdws the needs of the charitable company both al Ihe current tlma and tn the for8seeabla futurn. The most recent rnvSaw of Ihlu pollcy encompamed the nalure of thg Incomo and oxpendlturn 8tra8ms. the ne•d to malch varfable Ineoma th fixed cornmltmgnt$ and the nalurn of the serves. The revl8w concluded that to ollow the charty lo be managed efficlently and to provlde a buffer for uninterrupted s•rvlce5, an adequata general rgseThe should be malntalnfrd at a level equlvalent to 6 rnonth's exp8ndltsxa. The LEO Both bèli8v8s In retalnlng an appiopriate level of reser4es for the follong reasons: To ensLwe sufficlent funds arè avallabl8 lo meet Currenl c¢)mmrtments when Income streams ar• orrallc. . To en3ure senAces can malntalned In Ihe event of an unexpected loss of Income or ex¢eplional expgnditure. To pvIde sufficlent funds for an wlndlng up In th• event thal organlsatlon shoukl co operallons. The trustee8 malntakn a pollcy of actEvely managlng th• rtsorves In order to Increas• th• eporatbn p05slbllleS of the charitable oynpIY In lulure years. The Reserves Pollcy Is foffnally r8vlewed annually. Thè trustees have assessed tho major Jlsks to whlth tho (*Mrlt8blo company Is exposed and arn Satisfied that systems are Sn place to mlugatg exposure to the majty rlsks. Futur• Plans LEO plans on contlnulng Its acbvitles UTKler tho headings of enteTprise awareness. business startryup, buElness development and twsln•ss support in forthcomlng years.
LISBURN ENTERPRISE ORGANISATION LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (coKnNUED) FOR THE YEAR ENDED 31 DECEMBER 2022 StructUf•i govomanca and management The charity Is a company Ilmited by guarantee and does not have share capltal. It ts govemed by Memorandum and Artlc18s Assoclalion. The charttab* company w8s Incorporated on 13 Aug1 1990 and reglslered as a charity on 16 February 2004. The company has charitablo $t3tus for taxallon pUose5. The truslees. who are also the dir8clor5 for the purpose of company law. and vtho served durfng Ihe year and up to the date of signalure ot Ihe financlal statements were." MrA H Roblnson {Chalman) Mr J R Cab)ey (Company Secretsry Mr N E Elllott IFtnandal Dlrector) Mr R S Briggs Mr N S Fenton Mr G A Green Mr D T Maglll Mr I S S McBrien Mrs J E M¢Qulty Mr C Mltchell Mr 8 Sofifty (Reslgned 12 Aprll 2022) The tharltable company Is managad by the 8oard vthlch usually meets eath month. The day lo day management of Ihe charllabla company Is carrlad out by the Chlef Execullve 0ffi¢8r. The trustees of the company are elected by the memb8rs ol the charltable company. Tru$te88 are recrulted and appolnted In accordance Artldos ofAssoclatkn. Upon 81ectlon each Iruslea Is glvan a copy ol the MemoTandum and Artlcfes ofAssoclotlon and tre latest Annual Report and also Introduced lo Ihe lagal and operatlorBI aspects of the charlty to gnsure they have an understandlng of the nature of charfty tnJslee5hlp and re8ponsibilitles and duties that go wlth thls poslllon. Nona of the tru5tee8 has any beneficlal Interesl in th• Company. Al ol Ihe trustees are member¥ ol Ihe company and guaranlae to contrlbute £1 In tho event of o wlndwig up. Kay Managomont P•rsonn•l The Boarf Gon51der the board of trusla05. th• chlef 8xacutlvè officer and the senlor buslness advlsor as compdslng Iho key management peT50nnel of the charity In charye of dlrectlng and conlrolllng the charlty and runnlng and operatlng the Charity on a day to day basls. All bJaTd members glve thelr tlme fr8ely and M board remunaralion was pald In the year. Board members are requlffjd to dIsclo all relevant conflkl of Interests and reglster them al 88¢h monthly boaril mg91ing arKI In accordance wllh the Trusfs pollcy withdraw Irom dec6sions where a conlllct of Interest ar15es. The Board of Dlreclors wlsh8S to record Its appreciatlon of the dedi¢allon durfng the year of M8rtlna Crnwlord. Chlef Ex8CUtlv8 and all th• team. Throughout the year demand for our programmes remalned hlgh, room hlre levels Inueased and an occupanwlovel of 100% was reathed whlch a tremendous achl8¥8ment. The Charity15 commltted to developlng armi tralnlng Its staff and Board, thus contrlbuting to the provlslon of tha hlghest quallty G8rvlc8 to ¢llents. Throughout tho year tralnlng was provKled in a vange ol areas indudlng Safeguar(1Sng. During the year. Ihe organisallon successfully malntalned both ISO 9001 and ISO 14001 accreditatlons. TNsle8s and staff are also heavlly Involved wlh voluntary actN)n In the local ¢ommunlty, in prison5, local communlty groups and voluntary organisations. In 2022, these actfvllles included staff and licensees rakslng over £715 for Macmillan Cancer. The Tnjslees of the Charity give thelT time to support LEO voluntarfly and are rKJt In reIpl of any payment from the Charity.
LISBURN ENTERPRISE ORGANISATION LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Statem•nt ol truste•s' r•$pon8lbllltles Th• trustees, are also the dlrector3 of Llsbum Entarwlso Organlsallors Llmited the pUoSe of ¢ornpany law, are resFhMslble for preparlng Ihe Trustaes, Report and the financlal slatements in accordafico wilh appllcable law and Unlted Kingdom AccoJntlng Slandwds (Unitod lfjngd¢wn Generalty Accepted Aecountlng Prnctlce). Cornpany Law requlres the trustees to Prepa financlal statements for each financl81 year vthlth glve a true and falrv*w of th8 state of affalrs 01 kne charity and of the Incomlng r08rrc8S and appllcation of re8our¢es. Indudlrwa the Income and expendlture, ol the charftable company for that year. In pToparlrKJ these finandal ststements, the tru8100$ are rèqulred to: - select SU110 accountlng poll¢leB and than ap thom (¥•nslstsnlly, - observe Ihe methods and prfnaples kn Iho Charlties SORP 2019 {FRS 102); - mak•Judg•rnonts and esltmates thal ar• Masonable and prudent; - statè whether appiicablt UK Accountlng Slandards havo been loilowed, Bthjoct to ary malèrlal departuras dlsdosed and explalned In the finandal statements; affld propare th8 flnanclal statemen18 on the golng concAm ba81$ unless It IJ Inapproprtate kn prMim• thal the thadty wlll contlnue h operatl¢n. Tho tswstees arn respon51ble for keeplng adoqual• accountlng records that dlsclose wlth reasonable accura¢y at any Ilme Ihe ffinanclal posrll¢)n of th8 tharity and enable Ih8m to 8nsur8 that the Ilnan¢lal statements comply vAth the CrJTrp8nS Acl 2006. They are algo regponsth for safeguardlng th• assats of Ihe charity and hence taklng reasonable steps for th• prnvenllon and detectKn ol fraud and cther Irrggularltles. Dlsclosurn of Infomiatlon to •udllor Each of the tru91ees h83 confirmed that there L8 no Infomwllon ol whlch Ihay ar• awaro lch 1$ relevant to the aud but of whlch the audltor 58 unaware. They hav8 fvrthér confimled that they hHve taken approprlal8 8l•p8 to klentlfy such relovant Inlormalk)n and to astab115h that Ihe audllar Is aware ol such InlonnalS0n. Th15 report has been prepared In ac¢tydarKe wilh the provl6lonB appll¢able to companles enthled to lh8 9mall companles. exampuons The tru¥tM•' rnport waj approved by th• Boa ol Tru3¢eeJ. MrA H R¢)bln•on Ichalmmn) Truslee