LISBURN ENTERPRISE ORGANISATION LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestrlcted Unrestricted
funds
funds
2023
2022
Notes
Charitable activities
Investments
655,094
11,063
643,234
907
Total Incom8
666,157
644,141
Charitable activities
516,692
544,167
Net Income for the yearl
Nat movement In funds
149,465
99,974
Fund balan￿8 at 1 January 2023
3,774,802 3,674,828
Fund balances at 31 December 2023
3,924,267 3,774,802
The statement of Itnancial actwities includes all gains and10sses recognised in the year.
All income and expenditure derive from continuing activit188.
The ststement of financial activtties also compllas with the requlrements for an income and expenditure account
under the Companies Act 2006.
16-

LISBURN ENTERPRISE ORGANISATION LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Notes
Fixed assets
Tangible assets
10
2,807,123
2,944,893
Current assets
Debtors
Cash at bank and in hand
11
26,134
1,210,468
21,954
920,034
1,236,602
Creditors: amounts falling due withln
one year
941,988
12
{119,458)
(112,079)
Net current assets
1,177,144
829,909
Total assets less Current Ilabiliti8S
3,924,267
3,774,802
Income funds
Unrestricted funds
3,924,267
3,774,802
3,924,287
3,774,802
These financial statements have been prepared in accordance with the provisions applicable to companies subject
to the small companies regime.
signed on their behalf by..
MrA H Robinson (Chairman)
Trustee
Mr N E EllS0tt (Flnanclal Dlrector}
Trusteè
Company registration number N1024735
17-

LISBURN ENTERPRISE ORGANISATION LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
Notes
Cash flows from operating actlvtties
Cash generated from operatlons
15
279,371
207,650
Investlng activlties
Purchase of tsngible fixed assets
Investment income received
(7,878)
907
11,063
Net cash generated fromJ(used In)
investlng activltles
11,063
(6,971)
Net cash used In tlnanclng actlvltles
Net Increase in cash and cash 8qulvalents
290,434
200,679
Cash and cash equivalents at beginning of y88r
920,034
719,355
Cash and cash equlvalents at end of year
1,210,468
920,034
18-

LISBURN ENTERPRISE ORGANISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policles
Charlty information
Lisbum Enterprise Organisation Limited is a private company limtted by guarantee incorporated in Northem
Ireland. The registered office 1$ 6 Enterprise Crescent, Ballindery Road, Lisbum, Co Antrim, BT28 2BP.
1.1 Accountlng convention
The financial statements have been prePa￿d in accordance wtth the charty's Memorandum and Articles of
Association,
the Companies Act 2006 and 'Accounting and Reporting by Charities.. Statem&nt of
Recommended Practice applicable to Charities preparing their accounts in accordance with the Financlal
Reporting Standard applicable in th8 UK and Republic of Ireland {FRS 102). {as amended for accounting
periods commencing from 1 January 2016). The charity is a Public Benefit Entity as d6fined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
The flnancial statements have been prepared under the historical cost convention. The principal accounting
policies adopted are set out below.
1.2 Golng concern
At the time of approving the financial ststements, the trustees have a reasonable expectation that the charity
has adequate resources to continue in operational exislence for the ft)resee2ble future. Thus th8 tnBte@s
continue to adopt the going concèm basis of accounting in preparing the financial statements.
1.3 Charltable fund3
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable
objeGtives.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular
purposes. Th8 aim and use of each designat8d fvnd is set out in Ihe notes to the financlal statements.
Grants received to fund capital expenditure are transferred to designated funds from restrlcted fvnds when
expended and then released to general funds over the related assets, useful economlc life.
1.4 Income
Income is recognlsed when the charty is legally entitled to it after any performance conditlons have been met,
the amounts can be measured reliably, and it is probable that Incom8 wlll be recelved.
Incoming resources from charitable activities comprises licence fee income, progrdmm8 income,
administrative services income and consultancy.
Income Is deferred when it does not meet the criteria for recognition as incoming reSoUr￿S in the Statement
of Financial Activities, as entitlement to the incoming resource does not 8￿st at the balance sheet date.
Interest on funds held on deposit is included when re￿[Vable and the amount can be measured reliably by the
¢harity', this is norrnslly upon notification of the interest paid or payable by the bank.
19-

LISBURN ENTERPRISE ORGANISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
AcGountlng poli¢ies (Continued)
1.5 Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate
all costs related to the category. Expenditure is recognised where there is a legal or constructtve obligation to
make payments to third parties, it is probable that the settlement W711 be required and the amount of th8
obligation can be measured reliably. It is categorlsed under one of the following headings.. Costs of raising
funds, Expenditure on charitable activities and Other expenditure.
Support costs are those that assist th6 work of the charlty but do not directly represent charitable activities
and include office costs, governance Costs, depr&ciation costs and administrative payroll costs. They are
incurred dlrectly in support of 8xpenditure on the objects of the charity and include project managèment
carried out at the office. Office costs, depreciation Costs, governan￿ costs and payroll costs are allocated to
charitable activities based on perGentage of turnover. The allocation of support costs is analysed in note 7.
1.6 Tanglble fixed assets
Tangible fixed assets are initially measured at ¢ost and subsequ8ntly measured at cost or valuation, net of
depreciation and any impairrnent losses.
Depreciation is recognised so as to wrlte off the cost or valuation of assets less their residual values over thelr
useftjl lives on the following bases:
Freehold buildings
Plant and equipment
Fixtures and fittings
3% Straight line
1 Ooh Reducing balance
250h Reducing balance
The gain or loss arising on the disposal of an asset Is determined as Ihe dlfference be￿een the sale proceeds
and the carrylng value of th8 ass&t, and is recognised in the statement of financial activities.
1.7 Impalrmont of fixed assets
At each reporting end date, the charitable company revlews the carrylng amounts of its tangible assets to
determine whether ther8 is any indication that those assets have suffered an impaiment loss. If any such
indication exists, the recoverable amount of the asset is estimated in order to detemiinè the extent of the
imp£irment loss (If any).
1.8 Cash and cash equlvalents
Cash and cash equivalents include cash in hand, deposits held at call wth 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 liabllities.
1.9 Financial instruments
The charity has elected to apply the provisions of Sectton 11 'Basic Financial Instruments, and Sectlon 12
'Other Financlal Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes paty to th8
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the finanaal 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 realise the asset and settle the liability simultaneously.
-20-

LISBURN ENTERPRISE ORGANISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies (Continued)
Baslc flnancial assets
Basic financial assets. which Indude debtors and cash and bank balances, are initially rneasured at
transaction price including transaction costs and are subs8quentty carried at amortised cost using the effective
interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured at the pr8sent value of the future recelpts discounted at a market rate of interest. Financial assèts
classifled as receivable within one year are not amoits8d.
Basie ffnanclal Ilabllltles
Basic financial liabilit18s, Including credltors and bank loans are initially recognised at transaction price unless
the arrangement constitules a financing transaction, where the debt instrument is measured at the present
value of the future payments discounted at a market rate of interest. Financial liabilitles classified as payable
within one year are not amortised.
Debt Instruments are subsequently carried at amortised Cost, using the 8ffective inter8St rate method.
Trade creditors are obllgations to pay for goods or services that have b88n acquired in the ordinary course of
operations from suppliers. Amounts payable are Glassified as Gurrent liabilities if payment is due wlthin one
year or les5. If not, they are presented as non-current liabilities. Trade creditors are recognised inltlally at
transaction prits and subsequently measured at amortised cost using the 8ffective interest method.
Derecognition of flnancial liabilities
Flnancial liabilities are derecognised when the charity's contractual obligatlons expire or are discharged or
cancelled.
1.10 Employee b8neffts
The cost of any unused hollday entitlement Is recognised In the period In which the employee's services are
received.
Termination benefits are recognlsed Immediately as an expense when the charrty is demonstrably committed
to terminate the employment of an employee orto provide temilnation benefits.
1.11 Retlrement benefits
Payments to defined contribution retirament ben8fit 8cheme8 are ¢harged as an expense as they fall due.
Crltical accounting estlmates and Judgements
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates
and assumptions about the carying amount of assets and liabilities that are not readily apparent from other
sources. The estimates and associated assumptions are based on historical experience and other factors that
are considered to be relevant. Actual results may differ from these estimates.
The estimates and underfying assumptions ara reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period. or in the period of the revision and future periods where the revision affects both cuffent and future
periods.
-21

LISBURN ENTERPRISE ORGANISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
critical accountlng estimates and judgements (Continued)
Key sources of 8stimatlon uncertainty
Flxed Assets
The annual depreciation charge on fixed assets depends primarily on the estimated lives of each type of asset
and estlmates of residual values. The trustees regulady review thes8 assets lives and change them as
necessary to reflect current thinking on remaining lives in light of prospective economic utilisaticn and physical
Condition of the assets concerned. Changes in assets lives can have a signffjcant impact on depreciation
charges for th8 period. Detail of th8 useful lives is included in the a¢¢ounting policies.
R88triGted and unr8stricted funds
Judgement are made in relation to allocation of income and expenditure to restricted and unrestricted funds.
The trustees consider it appropriata to allocate these funds based on donations received.
Charitable activities
Unrestricted Unrestricted.
funds
funds
2023
2022
Programme and consultancy income
Llcence fee income
Secretarial and oth8r s8rylces
32,074
568,400
54,620
46,006
542,285
54,943
655,094
643,234
Investments
Unrestricted Unrestricted
funds
funds
2023
2022
Interest receivable
11,063
907

LISBURN ENTERPRISE ORGANISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Charitable activlties
2023
2022
Staff costs
Depreciation and impainnent
Programme expenditur8
Rates
Insurance
Heat and light
Repairs and renewals
Equipment maintenance
Printing, postage and stationèry
Waste disposal
Security service
General expenses
Bad debts
Training & developm8nt
Cleaning
Advertising
Telephone
Computer Costs
Hire of Equipment
Motor & Travel
Bank Charges
Donations
Subscrlptlons
135,759
137.770
24,140
4.000
22,054
56,381
45,248
10,222
2,438
13,227
2,594
10,726
149,158
135,984
13.153
4,800
18.497
74,183
57,375
12,397
6,502
14,951
2,495
10,646
113
1,024
14,4Q6
425
3,241
9,437
1,391
5,917
649
200
138
2,000
14,508
2,361
2,867
10,029
1,385
5,855
528
200
150
504,440
537,082
Share of govemance wsts (see note 71
12,252
7,085
516,692
544,167
Analysis by fund
Unrestricted funds
516,692
516,692
Forthe year ended 31 December 2022
Unrestricted funds
544,167
544,167
Descrlption of charitable activities
anan
onomi
eneration
All charitable activitiès focus on the promotion of urban and economic regeneration in the Greater Lisbum
area.
-23-

LISBURN ENTERPRISE ORGANISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Support costs
Support Governance
Gosts
costs
2023
2022
Audit fees
Legal and professional
5,075
7,177
5,075
7.177
3,685
3,400
12,252
12,252
7,085
Analysed be￿een
Charitable activities
12,252
12,252
7,085
Govemance Costs includes payments to th8 auditors of £5,07512022- £3,685) for audit fees.
Trustees
None of the trustees (or any persons connected with them) r8c8lved any remuneration or b8nefits from the
chadty during the year.
Employees
Th& average monthly number of employ888 during th8 year was:
2023
Number
2022
Number
Adrninlstration
Employment costs
2023
2022
Wages and salaries
Social security costs
Other pension costs
123,653
8,176
3,930
135,463
9.758
3,937
135,759
149,158
The number of employees whose annual remuneration was more than £60.000
is as follows-
2023
Number
2022
Number
£60,000- £70,000
-24-

LISBURN ENTERPRISE ORGANISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
10 Tanglble fixed assets
Freehold
bulldlngs
Plant and Flxtures and
equlpment
fittlngs
Totsl
Cost
At 1 January 2023
6,252,671
116,283
179,361
6.548,315
At 31 December 2023
8,252,671
116,283
179,361
6,548,315
Dopreciation and impairment
At 1 January 2023
Depreciation Charged In the year
3,337,624
131,768
99,945
1,817
165,853
4,185
3,603,422
137,770
At 31 December 2023
3,469,392
101,762
170,038
3,741,192
Carylng amount
At 31 December 2023
2,783,279
14,521
9,323
2,807,123
At 31 December 2022
2,915.047
18,338
13,508
2,944,893
11 Debtors
2023
2022
Amounts falllng due wlthln one yoar:
Trade debtors
Other debtors
P￿payMentS and 8ccru8d income
21,673
835
3,626
17,140
266
4,548
26,134
21,954
12 CredltorJ: amounts falllng due wlthln one year
2023
2022
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
27,189
9,068
58,525
24,876
25,205
9,732
59,165
17,977
119,458
112,079
-25-

LISBURN ENTERPRISE ORGANISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
13 Operating lease commilments
At the ￿porting end date the charity had outstanding commltments for future minimum lease payments under
non-cancellable operating lèases, which fall due as follows..
2023
2022
Within one year
Between and five years
1,730
238
5,495
713
1,968
6,208
14 Related party transactlons
Remuneratton of kèy management personnel
The remuneration of key management personn81 is as follows.
2023
2022
Aggr8gate compensation
70,060
90,335
The charity conslders Its key management personnel to comprise of the chief executive officer and senior
business advisor.
16 Cash generated from operations
2023
2022
Surplus for the y8ar
149,465
99,974
Adjustments for.
Investment income recognised In statement of financial actlvtties
Depreciation and impairment of tangible fixed assets
(11,063)
137,770
1907)
135,984
Movements in working capital..
Ilncrease)Idecrease in debtors
Increaselldecreasel In creditors
(4,180)
7,379
5,335
(32,736>
Cash generated from operatlons
279,371
207,650
16 Analysls of changos In net funds
The chartty had no debt during the year.
-26-