Charity registration number NIC101192
Company registration number N1024735 (Northern Ireland)
LISBURN ENTERPRISE ORGANISATION LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

LISBURN ENTERPRISE ORGANISATION LIMITED
LEGALAND ADMINISTRATIVE INFORMATION
Trustees
MrA H Robinson (Chairman)
Mr N E Elliott (Financial Director)
Mr R S Briggs
Mr N S Fenton
Mr G A Green
Mr D T Magill
Mr I S S McBrien
Mrs J E McQuitly
Mr B Sofley (Company Secretary)
Secretary
Mr B Sofley
Charity number
NIC101192
Company number
N1024735
Prlncipal address
6 Enterprise Crescent
Ballinderry Road
Lisburn
Co Antrim
BT28 2BP
Registered office
6 Enterprise Crescent
Ballinderry Road
Lisburn
Co Anlrim
BT28 2BP
Auditor
GMCG LISBURN
Century House
40 Crescent BLrsiness Park
Lisburn
BT28 2GN
Bankers
Danske Bank
62-66 Bow Street
Lisburn
BT28 1 YS
Solicitors
Maccorkell Legal & Commercial
Garvey Sludios
8-10 Longstone Street
Lisburn
Co Antrim
BT28 1TP

LISBURN ENTERPRISE ORGANISATION LIMITED
CONTENTS
Page
Trustees, report
Independent auditor's report
10-15
Statement of financial aclivities
16
Balance sheet
17
statement of cash flows
18
Notes to the finanGial statements
19-28

LISBURN ENTERPRISE ORGANISATION LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report and financial statements for Ihe year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies sel out in note 1 to the
financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act
2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to Gharilies
preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and RepubliG of
Ireland (FRS 102). (effective 1 January 20191
Chairman's Foreword
Welcome to the 2024 Annual Review of the activities of Lisburn Enterprise Organisation, presented on behalf of the
LEO Board of Directors.
This year has been exceptionally busy for the organisation. LEO has sustained its support for local businesses by
providing expert advice, implementing new business support initiatives, and offering essential workspace solutions.
One outstanding example is the successful year-long delivery of the Go Succeed Programme to Lisburn-based
entrepreneurs, in partnership with Enterprise Northern Ireland and Lisburn and Castlereagh City Council. This
initiative, funded by the UK government, provides timely and tailored support to entrepreneurs al every stage of their
journey, greatly boosting their chances of success and growth.
Moreover, our Business Advisory team continued to deliver the Nl Explore Enterprise and our own fLrnded initiative,
My Adviser. The successful implementation of these initiatives has enabled LEO to support more local businesses
than ever before. These programmes have empowered Gountless entrepreneurs, equipping them with the essential
resources and guidance to excel in a competitive market.
LEO has successfully cultivated strong partnerships with various organisations throughout the year. Thanks to these
Gollaborations, we are now a proud delivery partner of the Go Succeed Growth programme in the Lisburn and
Castlereagh City Council area, in partnership with Full Circle Management consultants and have also delivered Ihe
Vision to Venture self-employment programme in partnership with Tangible Consulting. These partnerships have
significanlly amplified our impact, allowing us to reach and support a wider number of businesses.
The provision of workspace units and Grade A office facilities is a fundamental activity of our organisalion,
supporting many of LEO'S charitable endeavours. l am proud lo report that by the end of December 2024, we
achieved 99.7 % occupanGy al our site. This accomplishment underscores the essential role our faGilities play in
promoling business growih and fostering community development. LEO is continuing ils mission of empowering
entrepreneurs and driving economic growth in the Lisburn area.
The remarkable success, outstanding performance, and impressive achievements of LEO are all thanks to the
incredible dedication of our Chief Executive, Martina Crawford, and her support staff. On behalf of the Board, I wish
lo record our thanks to them.
I would also like to take the opportunity to extend my heartfelt Ihanks to our Board of Directors for their unwavering
commitment and support. LEO'S success is truly a testament to their individual and collective contributions. Their
voluntary dedication is immensely appreciated and has made a significant impact on our achievements.
Objectives and activities
The objectives of the charity include the promotion of an entrepreneurial culture, support for business start-ups and
mechanisms lo encourage existing business development.
This report highlights the organisalion's main activities and beneficiaries. The organisation's charitable activities
focus on the promotion of urban and economic regeneralion in the Greater Lisburn area and are intended to further
charitable purpose for the public benefit.
Every activity is assessed in respect of its impact on beneficiaries and its contribution to charitable activities so that
Trustees may determine the best allocation of resources.

LISBURN ENTERPRISE ORGANISATION LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Through the promotion of an entrepreneurial culture and offering support seNices to new and existing businesses,
the charily contributes to the following charitable purposes=
The relief of poverty.,
b. The relief of unemployment, including assistance to the unemployed to find employment-,
The advancement of education, training or retraining, particularly among unemployed people, and
providing unemployed people with work experience-
d. The provision of financial assistance, technical assistance or business advice or consultancy in order
to provide training and employment opportunities for unemployed people in cases of financial or other
charitable need through help.. (i) in selting up their own business, or lill to existing businesses- and
e. The creation of training and employment opportunities by Ihe provision of workspace, buildings andlor
land for use on favourable terms.
Public Benefit
The Trustees have had regard to the Charity Commission Guidance on public benefit in the Charities Act 2011.
The public benefit of our charitable purposes of advancing citizenship and community development through the
promotion of urban regeneration in Lisburn are as follows..
The relief of poverty through increased opportunities to learn, train and be successful in attaining paid
employment locally.,
A reduction in unemployment because of enhanced opportunities to upskill, gain work experience and
attain paid-for job positions.,
An increase in the number of indigenous businesses established.,
An increase in the survival rates of business start-ups as a result of the advice, training & mentoring
received-
An improvement in the skills and experience of the local resident population so that Lisburn becomes
an attractive destinalion for businesses to locate, thus providing more opportunities for paid jobs, skills
and experience.,
An enlargement of Ihe local economy by providing support to businesses to become sustainable and
prosper thus employing more people locally who's wages when spent locally, sustain many more
businesses.
The enhanced access to support structures making it easier for people to access advice, training &
mentoring in entrepreneurship & business skills., and
The advancement in awareness of enterprise as a viable career option.
These benefits are evidenced in a number of ways, both in the collection of primary data and the review of
independently produced statistics.
Lisburn Enterprise Organisation was formally registered with the Charity Commission Nl on 13 February 2015
having been confirmed by the Commission to exist for charitable purposes and the public benefit.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the
charity should undertake.

LISBURN ENTERPRISE ORGANISATION LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Achievements and performance
Ente￿rISe Awareness
A key feature of the work at Lisburn Enterprise Organisalion is the promotion of an entrepreneurial Gullure and the
undertaking of awareness raising activities to highlight the opportunity of self-employment and business start-up in
the Lisburn area.
Entrepreneurial activity levels are a key indicator of an economy's health, with research demonstrating a positive
link between new venture creation and the factors that drive economic growth and productivity.
The Global Entrepreneurship Monitor (GEMI provides an insight into enlrepreneurial activity at national and
international levels. The latest GEM Northern Ireland 202312024 National Report highlights Ihal the rate of Total
early-slage Entrepreneurial Activity (TEA) in Northern Ireland in 2023 was 9.7°/o, up from 8.7°/0 in 2022. This figure
is just slightly lower than a figure of 10.7 /0 in the UK overall and 10.8°/0 in England in 2023.
Throughout the year, LEO Business Advisers continued to champion entrepreneurship, offering guidance and
support to individuals exploring the path lo self-employment. The team actively connected with local community
groups and Jobs and Benefits staff and took part in an event hosted by the local Jobs and Benefits office, promoting
self-employment as a realistic and rewarding career choice.
Business start up
Northern Ireland Explore Enterprise Support Service
The Northern Ireland Explore Enterprise Support Service is available to economically inactive individuals and aims
lo provide them with the opportunity to develop their entrepreneurial and employability skills.
Lisburn Enterprise Organisation partnered with Enterprise Northern Ireland to deliver this er)terprise support
initiative in the Lisburn and Casllereagh Cily Council area throughout the year.
Supported by the UK Government through the UK Shared Prosperity Fund, this programme provides personalised
one-to-one mentoring with an experienced Business Adviser, along with training tailored to each individual's pace
and needs. Participants can also work towards gaining a Level 2 qualification in Business Enterprise.
The initiative is designed to help those currently out of work grow both personally and professionally, with the goal of
strengthening the economy by supporting participants in becoming economically active.
During the year LEO Business Advisers engaged with 10 individuals to assist them in exploring the setting up of a
new venture or develop their employability skills.
Corinne Price participated on the programme to gain business skills and confidence to help her sel up her new
venture, Corinne Price Ceramics. Corinne produces colourful sculptural vessels and found the programme very
beneficial in helping her to research her business idea and develop the confidence lo launch her business.

LISBURN ENTERPRISE ORGANISATION LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Business start up (continued)
Vision to Venture Self Employment Programme
In Spring 2024 the Vision to Venture Self-Employment Programme supported aspiring entrepreneurs in the initial
stages of setting up a business through the provision of workshops, one to one bespoke mentoring and a small
bursary.
Lisburn Enterprise Organisation assisted Tangible Consulting to deliver this initiative, funded by the Department of
Communities, in the Lisburn and Castlereagh City Council area as part of the Lisburn and Castlereagh Labour
Market Partnership.
Participants who were unemployed or underemployed were supported through the programme to start up their own
venture. LEO Business Advisers provided mentoring to 12 aspiring entrepreneurs, helping them in areas such as
marketing, planning and finance.
The team also assisted these entrepreneurs to apply for a £750 bursary through Ihe programme to spend on
business start-up costs which included capital equipment, Gomputer hardware, websites and marketing materials.
Daniel Greenan, of Daniel Greenan Photography and Videography, took part in Ihe programme and received one-
to-one mentoring from a LEO Business Adviser. He Shared that the programme equipped him with valuable skills,
personalised mentoring and a clear action plan to successfully launch his business. "The workshops and individual
support from my mentor gave me a solid roadmap to transition my business into a full-time operation. The grant
funding also enabled me to invest in essential equipment. Since completing the programme, my business has
continued to grow from strength to strength..
Go Succeed Start
Go Succeed is a Northern Ireland wide business support service for entrepreneurs and is delivered on behalf of the
eleven councils by local enterprise agencies and Enterprise Northern Ireland.
Funded by the UK Government, Lisburn Enterprise Organisalion deliver the Go Succeed Start initiative to Socal
entrepreneurs in partnership with Enterprise Northern Ireland and Lisburn and Castlereagh City Council.
Go Succeed offers customized assistance to individuals at various stages of their entrepreneurial journey whether
they're starting out, looking to grow or aiming to scale their business.
Over the Gourse of the year, LEO'S expert Business Advisory learn supported entrepreneurs al various stages of
their start-up journey. They provided lailored one-to-one mentoring to help individuals refine their business ideas or
successfully launch their ventures. The team also worked with entrepreneurs who had already begun trading,
helping them reach key business milestones. In total, 1,257 individual mentoring sessions were delivered to 314
entrepreneurs.
Alongside offering expert business advice and mentoring, LEO hosted a variety of Go Succeed workshops and
Enterprise Clinics at the centre, aimed at helping aspiring entrepreneurs develop their business ideas. Key topics
included Exploring Your Business Idea. Presenting with Confidence, and Finance Fundamentals.
Throughout the year, the team also actively promoted the wide range of online Go Succeed workshops and
masterclasses available to local entrepreneurs, supporting them in starting and growing their businesses.

LISBURN ENTERPRISE ORGANISATION LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Business start up (continued)
MY Adviser
Lisburn Enterprise Organisation conlinued ils full funding of the MY Adviser programme throughout the year.
This initiative offers start-up entrepreneurs in Ihe Lisburn area who are trading for less than 18 month access to
personalised one-to-one business mentoring and regular MY Network catch-up events.
Funded by LEO since 2018, the programme has proven highly valuable in helping local entrepreneurs build
confidence and create actionable plans to move from concept lo launch. Each participant is matched wilh a
dedicated LEO Business Adviser for a 12-month period, receiving bespoke mentoring alongside opportunities to
Gonnect and learn from fellow start-up business owners.
The programme blends mentoring with monthly MY Network evenls designed to strengthen business skills and
foster peer support. Over the year, LEO hosted 8 such events, covering a wide range of topics including..
Photography for Social Media, Accountancy for Start-ups, Videography with Smartphones, Sales Slrategy.
QuiGkBooks Demonstration, Building an Effective Website, Natural Resilience for Business, and Aulomation and Al
Technology.
By December 2024, 8 participants had benefited from tailored mentoring and networking sessions. Since its launch,
the prograrnme has supported a total of 91 entrepreneurs.
Business Development
Go Succeed Grow
Throughoul the year, Lisburn Enterprise Organisation continued to partner with Full Circle Management Consultants
to assist in the delivery of growth business mentoring to established businesses in the Lisburn and Casllereagh City
Council area.
Go Succeed Grow provides tailored business mentoring to established business owners who require assistance on
the best ways to expand and innovate and take their business to the next stage.

LISBURN ENTERPRISE ORGANISATION LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Business Support
Workspace
At Lisburn Enterprise Organisation, we offer a variety of flexible workspace options tailored lo meet the needs of
entrepreneurs, from light industrial units to modern office spaces. Our property portfolio now spans more than
85,000 square feet.
To support and encourage enlrepreneurship, we provide favourable terms, including a flexible licence agreement
with just 30 days, notice required for termination. Our all-inclusive licence fee covers site securily, waste disposal,
grounds maintenance, and access to on-site administrative and business support services.
Over the course of the year occupancy levels remained exceptionally strong, reaching 99.7 % in December 2024. As
a result, 150 businesses are now operating from the site, collectively employing over 500 people.
As part of our ongoing commitment to environmental sustainability, LEO is proud to report that this year's waste
reduction and recycling initiatives successfully diverted 68 tonnes of waste from landfill.
Virtual Office Facilities
Lisburn Enterprise Organisalion virtual office facilities enable business owners to maintain a professional image
while minimising overhead costs. Clients can benefit from a commercial mailing address and if desired, add a
professional call handling service. Instead of the expense of hiring a fulplime receptionist, businesses can rely on
the LEO administrative team to provide a personalised call handling solution. By Ihe end of the year, 43 businesses
were actively using the Virtual Office services available at the centre.
Conference Facilities
This year, the combination of outstanding room hire facilities, exceptional service quality and a prime central
location significantly boosted demand for our meeting rooms and conference services. The LEO team successfully
hosted a total of 209 room hire meetings and events throughout the year.
Accessing Finance
During the year LEO were delighted to deliver business mentoring to clients who received a loan through the Start
Up Loans Company.
LEO is an official and pro-active Delivery Partner of the Start Up Loans Company and the Nl Small Business Loan
Fund. In 2024 Ihese two loan funds committed £268,300 in loans to 12 Lisburn based businesses and
entrepreneurs.
Co-operatlon & Partnership
A key aspect of LEO'S charitable work lies in the valuable contributions made by its Trustees and staff to various
initiatives both within the city of Lisburn and beyond.
Our partnership with Fusion Theatre Company remained strong this year. Fusion, an award-winning youth theatre
based in Lisburn, offers young people aged 8 to 21 from all backgrounds the chance to participate in high-quality
musical theatre productions. Their performances of Anastasia and Amélie at the Island Arts Centre once again
highlighted the outstanding talent of local youth.
The Board of Directors greatly values the strong relationship shared with our core enterprise and economic
development partners Lisburn & Castlereagh City Council and Enterprise Northern Ireland. Throughout Ihe year,
LEO supported a number of business growth initialives and networking events on behalf of the Council. In addition,
the Chief Executive actively participated in the Council's networking events, engaging with local entrepreneurs.
LEO remains an active and committed member of Enterprise Northern Ireland {ENII, with representation on the
organisation's Board. LEO also plays a key role in delivering a range of ENI initiatives to support local
entrepreneurs. Each year, LEO encourages local business owners to take part in the ENI Barometer sutvey, which
offers valuable insights into the performance of our SMES and highlights the main challenges they face. In addition
to tracking performance, the survey identifies the types of support needed to help these businesses succeed.
Throughout the year, Ihe organisation maintained a strong and collaborative relationship with Lisburn Chamber of
Commerce. In 2024, LEO participated in key Chamber events, including the President's Lunch and the Lisburn
Chamber Dinner at The Ballymac Hotel.
LEO also continues to engage with the Bank of England and the British Business Bank, ensuring that the
perspectives and experiences of Lisburn businesses are reflected in the economic and financial insights gathered
by Bank agents.

LISBURN ENTERPRISE ORGANISATION LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Flnancial review
The charity returned net incoming resources of £176,633 (2023 - £149,465), of which all were unrestricted. At 31
December 2024, the level of unreslricted reserves held was £4,100,900 (2023 - £3,924,267).
The primary objective of the LEO ReseNes Policy is to retain a level of free resetves which matches the needs of
the charitable company both at the current lime and in Ihe foreseeable fulure.
The most recent review of this policy encompassed the nature of the income and expenditure streams, Ihe need to
match variable income wilh fixed commitments and the nature of the reserves. The review concluded that to allow
the charity to be managed efficiently and to provide a buffer for uninterrupted services, an adequate general reserve
should be maintained at a level equivalent to 6 month's expenditure.
The LEO Board believes in retaining an appropriate level of reserves for the following reasons=
To ensure sufficient funds are available to meet current commitments when income streams are erratic.
To ensure services can be maintained in the event of an unexpected loss of income or exceptional
expenditure.
To provide sufficient funds for an orderly winding up in the event that the organisation should cease
operations.
The trustees maintain a policy of actively managing the reserves in order to increase the operational possibilities of
the charitable company in future years. The Reserves Policy is formally reviewed annually.
The trustees have assessed the major risks to which the charitable company is exposed and are satisfied that
systems are in place to mitigate exposure to the major risks.
Plans for future perlods
LEO plans on continuing its aGlivities under the headings of enterprise awareness, business start-up, business
development and business support in forthcoming years.
structure, governance and management
The charity is a company limited by guarantee and does not have share capital. It is governed by a Memorandum
and Articles Association. The charitable company was incorporated on 13 August 1990 and registered as a charity
on 16 February 2004. The company has charitable status for taxation purposes.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up lo
the date of signature of the financial statements were..
MrA H Robinson (Chairman)
Mr J R Catney (Company Secretary)
Mr N E Elliott (Financial Director)
Mr R S Briggs
Mr N S Fenton
Mr GAGreen
Mr D T Magill
Mr I S S McBrien
Mrs J E McQuitty
Mr B Sofley (Company Secretary)
(Resigned 14 May 20241

LISBURN ENTERPRISE ORGANISATION LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The charitable company is managed by the Board which usually meets each month. The day to day management
of the Gharitable company is carried out by the Chief Executive Officer.
The trustees of the company are elected by the members of the charitable company. Trustees are recruited and
appointed in accordance with the Articles of Association. Upon election each trustee is given a copy of Ihe
Memorandum and Articles of Associalion and the latest Annual Report and also introduced to the legal and
operational aspects of the charity to ensure they have an understanding of the nature of charity Irusleeship and
responsibilities and duties that go wilh this position.
None of the trustees has any beneficial interest in the company. All of the trustees are members oflhe company and
guarantee to contribute £1 in Ihe event of a winding up.
Key Management Personnel
The Board Gonsider the board of trustees, the chief execulive officer and the senior business advisor as comprising
the key management personnel of the Gharity in charge of directing and controlling the charity and running and
operating the charity on a day to day basis. All board members give their lime freely and no board remuneration
was paid in the year. Board members are required to disclose all relevant conflict of interests and register them at
each monthly board meeting and in accordance with the Trust's policy withdraw from decisions where a conflict of
interest arises.
The Board of Directors would like to formally acknowledge and thank Martina Crawford, Chief ExeGulive, along with
the entire team for their dedication and hard work throughout the year. Demand for our programmes remained
consistently strong, room hire increased significantly and we achieved an impressive occupancy rate of 99.70A.
The Charity remains committed to Ihe ongoing development and training of both staff and Board members, ensuring
the delivery of the highest quality seNices lo our clients. Over the course of the year, staff received training in
various areas, including new programme initiatives.
We are proud lo report that the organisation successfully maintained its ISO 9001 and ISO 14001 accreditations
during the year.
Trustees and staff are also actively engaged in voluntary work within the local community and in prisons. In 2024,
this included fundraising efforts by staff and licensees, who raised £407 in support of Macmillan Cancer.
The Trustees of the Charity give their time to support LEO voluntarily and are not in receipt of any payment from the
Charity.

LISBURN ENTERPRISE ORGANISATION LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Statement of trustees, responsibilities
The trustees, who are also the directors of Lisburn Enterprise Organisation Limited for the purpose of company law,
are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law
and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the Iruslees to prepare financial slatemenls for each financial year which give a true and fair
view of the state of affairs of the charity and of the incoming resources and application of resources, including the
income and expenditure, of the Gharitable company for that year.
In preparing these financial staternents, the trustees are required to:
select suitable accounting policies and then apply them consistently.,
observe the methods and principles in the Charities SORP 2019 (FRS 1021.
make judgements and estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards have been followed, subject to any material departures
disclosed and explained in the financial statements., and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity
will conlinue in operation.
The trustees are responsible for keeping adequate accounting records thal disGlose with reasonable accuracy at
any lime the financial position of the Gharily and enable them to ensure that the financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
Audltor
In accordance with the company's articles, a resolution proposing that GMCG LISBURN be reappointed as auditor
of the company will be pul al a General Meeting.
Dlsclosure of information to auditor
Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the
audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to
identify SUGh relevant information and to establish that the auditor is aware of such information.
This report has been prepared in accordance with the provisions applicable to companies entitled to the small
companies, exemptions.
The trustees, report was approved by the Board of Trustees.
IiA
MrA H Robinson {Chairmanl
Trustee
Dale..

LISBURN ENTERPRISE ORGANISATION LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF LISBURN ENTERPRISE ORGANISATION LIMITED
Opinion
We have audited the financial statements of Lisburn Enterprise Organisation Limited (the 'charity') for the year
ended 31 December 2024 which comprise Ihe statement of financial activities, the balance sheet, the statement of
cash flows and the notes to the financial statements, including a summary of significant accounting policies. The
financial reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in
the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial slatements..
give a true and fair view of the state of the charitable company's affairs as at 31 December 2024 and of ils
incoming resources and application of resources, including its income and expenditure, for the year then
ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinlon
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK}) and applicable
law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audil of
the financial statements section of our report. We are independent of the charity in accordance with the elhical
requiremenls that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
ConclusTons relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of Ihe financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating lo events or
conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going
concern for a period of al leasl twelve rnonths from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees wilh respect lo going concern are described in the
relevant sections of this report.
10-

LISBURN ENTERPRISE ORGANISATION LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF LISBURN ENTERPRISE ORGANISATION LIMITED
Other Information
The other information comprises the information included in the annual report other than the financial statements
and our auditor's report thereon. The trustees are responsible for the other information contained within the annual
report. Our opinion on the financial statements does not cover the other information and, except to the extent
otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our
responsibility is to read the other information and, in doing so, consider whether the other information is materially
inconsistent with the financial statements or our knowledge obtained in the course of the audit, or olherwise appears
to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are
required lo determine whether this gives rise to a material misstatement in the financial stalements themselves. If,
based on Ihe work we have performed, we conclude that there is a material misstatement of this other information,
we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescrlbed by the Companies Act 2006
In our opinion, based on the work undertaken in the Gourse of our audit..
the information given in the truslees, report, which includes the directors, report prepared for the purposes of
company law, for the financial year for which the financial stalemenls are prepared is con8lStent with the
financial statements-, and
the directors, report included within the trustees, report has been prepared in accordance with applicable legal
requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the
audit, we have not identified material misstatements in the trustees, report.
We have nothing to report in respect of the following malters in relation to which the Companies Act 2006 requires
us lo report to you if, in our opinion..
adequate accounting records have not been kept, or returns adequate for our audit have not been received
from branches not visited by us- or
the financial statements are not in agreement with the accounting records and returns; or
Gertain disclosures oftrustees, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit., or
the trustees were not enlilled to prepare the financial statements in accordance with the small companies
regime and take advantage of the small companies, exemptions in preparing the trustees, report and from the
requirement to prepare a strategic report.
11

LISBURN ENTERPRISE ORGANISATION LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF LISBURN ENTERPRISE ORGANISATION LIMITED
Responsibllities of trustees
As explained more fully in Ihe statement of trustees, responsibilities, the truslees, who are also the directors of the
charity for the purpose of company law, are responsible for the preparation of the financial statements and for being
satisfied thal they give a true and fair view, and for SUGh internal control as the trustees determine is necessary to
enable the preparation of financial statements that are free from material misstatement, whether due to fraud or
erior. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to
Gontinue as a going concern, disclosing, as applicable, matters related to going concern and using the going
concern basis of accounting unless Ihe trustees either intend to liquidate the charitable Gompany or to cease
operations, or have no realistic alternative but to do so.
Audltor's responslbilities for the audit of the flnancial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material rnisstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audil conducted in accordance
with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or
error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence
the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
12-

LISBURN ENTERPRISE ORGANISATION LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF LISBURN ENTERPRISE ORGANISATION LIMITED
Extent to which the audit was considered capable of detecting irregularlties, includlng fraud
We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error,
and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is
sufficient and appropriate lo provide a basis for our opinion.
In identifying and assessing polenlial risks of material misstatement in respect of irregularities, including fraud and
non-compliances with laws and regulations, we considered the following..
The nature of the industry and sector, control environment and business performance, including the
ch8rity's remuneralion policies for directors, bonus levels and performance targets, if any.,
Results of our enquiries of management about their own identification and assessment of the risks of
irregularities;
Any matters we identified having obtained and reviewed the charity's documentation of their policies and
procedures relating to..
Identifying, evaluating and complying with laws and regulations and whether they were aware of
any instance of non-compliance.,
Detecting and responding to the risks of fraud and whether they have knowledge of any actual,
suspected or alleged fraud., and
The internal controls established to mitigate risks of fraud or non-compliance with laws and
regulations.,
The matters discussed among the audit engagement team regarding how and where fraud might occur in
the financial statements and potential indicators of fraud.
As a result of these procedures, we considered the opportunities and incentives that may exist within the charity for
fraud and identified the greatest polential for fraud in revenue recognition. In common with all audits under ISAS
(UK), we are also required to perform specific procedures lo respond to the risk of management override.
We also obtained an understanding of the legal and regulatory frameworks that the charity operates in, focusing on
provisions of those laws and regulations that had a direct effect on the determination of material amounts and
disclosures in the financial statements. The key laws and regulations we considered in this context included the
Companies Act 2006 and Charities Act 2011.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial
statements bul compliance with which may be fLfndamental to the charity's ability to operate or to avoid a material
penalty.
13-

LISBURN ENTERPRISE ORGANISATION LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF LISBURN ENTERPRISE ORGANISATION LIMITED
Audlt response to risks identified
Our procedures to respond to the risks identified included the following..
Reviewing the financial statement disclosures and testing to supporting documentation to assess
compliance with provisions of relevant laws and regulations described as having a direct effect on the
financial stalements.,
Enquiring of managemenl Goncerning actual and potential litigation and claims.,
Performing analytical procedures lo identify any unusual or unexpected relationships that may indicate
risks of material misstalemenl due to fraud.,
Reading minutes of meetings of those charged with governance and reviewing correspondence with tax
authorities- and
In addressing the risk of fraud through management override of controls, testing the appropriateness of
journal entries and other adjustments; assessing whether the judgemenls made in making accounting
estimates are indicative of a potential bias,. and evaluating the business rationale of any significant
transactions that are unusual or outside the normal Gourse of business.
We also ¢ommuniGated relevant identified laws and regulations and potential fraud risks to all engagement team
members and remained alert to any indiGations of fraud or non-compliance with laws and regulations throughout the
audit.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some
material misstatements in the financial statements, even though we have properly planned and performed our audit
in accordance with auditing standards. In addition, as with any audit, there remains a higher risk of non-deteclion of
irregularities, as they may involve collusion, forgery, intentional omissions, misrepresentations, or the override of
internal conlrols. We are not responsible for preventing non-compliance and cannot be expected to detect non-
compliance with all laws and regulations.
A further description of our responsibilities is available on the Financial Reporting Council's website at.. https'.11
.frc.org.uklaudilorsresponsibilities. This description forms part of our auditor's report.
14-

LISBURN ENTERPRISE ORGANISATION LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF LISBURN ENTERPRISE ORGANISATION LIMITED
Use of our report
This report is made solely lo the company's members, as a body. in accordance with Chapter 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we might state lo the company's members those
matters we are required to stale to them in an auditorfs report and for no other purpose. To Ihe fullest extent
permilled by law, we do not accept or assume responsibility to anyone other than the company and the company's
members as a body, for our audit work, for this report, or for the opinions we have formed.
Mr Stephen Houston FCA {Senior Statutory Auditor)
for and on behalf of GMCG LISBURN
Chartered Accountants
statutory Auditor
Century House
40 Crescent Business Park
Lisburn
BT28 2GN
15-

LISBURN ENTERPRISE ORGANISATION LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITUREACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestricted
funds
2024
Unrestricted
funds
2023
Notes
Income from..
Charitable activities
Investments
708,057
52,151
655,094
11,063
Total income
760,208
666,157
Expenditure on:
Charitable activities
583,575
516,692
Total expenditure
583,575
516,692
Net Income and movement in funds
176,633
149,465
Reconclliation of funds:
Fund balances at 1 January 2024
3,924,267
3,774,802
Fund balances at 31 December 2024
4,100,900
3,924,267
The statement of financial activities includes all gains and losses recognised in Ihe year. All income and expenditure
derive from Gontinuing activities.
16-

LISBURN ENTERPRISE ORGANISATION LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Notes
Fixed assets
Tangible assets
12
2,670,576
2,807,123
Current assets
Debtors
Cash at bank and in hand
13
27,996
1,526,084
26,134
1,210,468
1,554,080
1,236,602
Creditors: amounts falling due within
one year
14
1123,756)
{119,458)
Net current assets
1,430,324
1,117,144
Total assets less current liabilities
4,100,900
3,924,267
Income funds
Unrestricted funds
4,100,900
3,924,267
4,100,900
3,924,267
These financial statements have been prepared in accordance with the provisions applicable lo companies subject
to the small companies regime.
The financial statements were approved by the Trustees on
and signed on their behalf by..
O(,cL Qck)
MrA H Robinson (Chairman)
Trustee
Mr N E Elliott (Financial Director)
Trustee
Company registration number N1024735
17-

LISBURN ENTERPRISE ORGANISATION LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Notes
Cash flows from operating activities
Cash generated from operations
18
263,821
279,371
Investing activities
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
assets
Investment income received
(6241
268
52,151
11,063
Net cash generated from investing
activities
51,795
11,063
Net cash used in financlng activities
Net increase in cash and cash equivalents
315,616
290,434
Cash and cash equivalents at beginning of year
1,210,468
920,034
Cash and cash equlvalents at end of year
1,526,084
1,210,468
18

LISBURN ENTERPRISE ORGANISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEIVIBER 2024
Accounting policles
Charity Tnformation
Lisburn Enterprise Organisalion Limited is a private company limited by guarantee incorporated in Northern
Ireland. The registered office is 6 Enterprise Crescent, Ballinderry Road, Lisburn, Co Antrim, BT28 2BP.
1.1 Accounting conventlon
The financial stalemenls have been prepared in accordance with Ihe charity's Memorandum and Articles of
Association,
the Companies Act 2006 and "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)" las amended for accounting
periods commencing from 1 January 2016}. The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional Gurrency of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the hislorical cost convention. The principal accounting
policies adopted are sel out below.
1.2 Going concern
At the time of approving the financial statemenls, the trustees have a reasonable expectation thal the charity
has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees
continue lo adopt the going concern basis of accounting in prepartng the financial statements.
1.3 Charltable funds
UnrestriGted funds are available for use at the discretion of the trustees in furtherance of their charitable
objectives.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular
purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Grants received to fund capital expenditure are transferred to designated funds from restricted funds when
expended and then released to general funds over the related assets, useful economic life.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met,
the amounts can be measured reliably, and it is probable that income will be received.
Incoming resources from charitable activities comprises licence fee income, programme income,
adminislralive seNices income and consultancy.
Income is deferred when it does not meet the criteria for recognition as incoming resources in the Statement
of Financial Activities, as entitlement to the incoming resource does not exist at the balance sheet date.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the
charity., this is normally 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 2024
Accounting policies (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 constructive obligation to
make payments to third parties, it is probable that the settlement will be required and the amount of the
obligation can be measured reliably. It is categorised under one of the following headings.. Costs of raising
funds, Expenditure on charitable activities and Other expenditure.
Support costs are those Ihal assist the work of the charity bul do not directly represent charitable activities
and include office costs, governance costs, depreciation costs and administralive payroll costs. They are
inGurred directly in support of expenditure on the objects of the charity and include project management
carried out at the office. Office costs, depreciation costs, governance costs and payroll costs are allocated to
charitable activities based on percentage of turnover. The allocation of support costs is analysed in note 7.
1.6 Tangible flxed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their
useful lives on Ihe following bases..
Freehold buildings
Plant and equipment
Fixtures and fittings
30/0 Straight line
100/0 Reducing balance
250/0 Reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds
and the carrying value of the asset, and is recognised in Ihe statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charitable company reviews the carrying amounts of its tangible assets to
determine whether there is any indication Ihat those assets have suffered an impairment loss. If any such
indication exists, Ihe recoverable amount of Ihe asset is estimated in order to determine the extent of the
impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents 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 Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are reGognised in the charity's balance sheet when the charity beGomes party to the
contractual provisions of the instrument.
Financial assets and 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 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 2024
Accounting policles (Continued)
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried al amortised Gost using the effective
interest method unless the arrangement constitutes a financing transaction, where the 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.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless
the arrangement constitutes 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 liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using ihe effective interest rale method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-currenl liabilities. Trade Creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or
cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are
received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed
to terminate the employment of an employee or lo provide lerrnination benefits.
1.11 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Crltlcal accountlng estimates and judgements
In the application of the charity's accounting policies, the Iruslees are required to make judgements, estimates
and assumptions about the carrying 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 Ihese estimates.
The estimates and underlying assumptions are 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 currenl and fulure
periods.
21

LISBURN ENTERPRISE ORGANISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Critical accounting estimates and judgements (Continued)
Key sources of estimation uncertainty
Flxed Assets
The annual depreciation charge on fixed assets depends primarily on the estimated lives of each type of asset
and estimates of residual values. The Irustees regularly review these assets lives and change them as
necessary to reflect current thinking on remaining lives in light of prospective economic utilisation and physical
condition of the assels concerned. Changes in assets lives can have a significant impaGI on depreciation
charges for the period. Detail of the usefu5 lives is included in the accounting policies.
Restricted and unrestrlcted funds
Judgement are made in relation to allocation of income and expenditure to restricted and unrestricted funds.
The trustees consider it appropriate to allocate these funds based on donations received.
Income from charitable activities
Unrestricted
funds
2024
Unrestricted
funds
2023
Programme and consultancy income
Licence fee income
Secretarial and other services
68,630
586,075
53,352
32,074
568,400
54,620
708,057
655,094
Income from investments
Unrestricted Unrestrlcted
funds
funds
2024
2023
Interest receivable
52,151
11,063
-22-

LISBURN ENTERPRISE ORGANISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Charltable activities
2024
2023
staff costs
Temporary staff costs
Depreciation and impairment
Programme expenditure
Rates
Insurance
Heal and light
Repairs and renewals
Equipment maintenance
Printing, postage and stationery
Waste disposal
Security service
General expenses
Training & development
Cleaning
Advertising
Telephone
Computer Costs
Hire of Equipment
Motor & Travel
Bank Charges
Donations
Subscriptions
ProfiVILossl disposal of tangible assets
152,862
17,057
153,960
56,865
3,400
24,269
48,772
42,838
10,203
2,112
10,302
2,586
9,716
1,600
22,537
135,759
137,770
24,140
4,000
22,054
56,381
45,248
10,222
2,438
13,227
2,594
10,726
2,000
14.508
2,361
2,867
10,029
1,385
5,855
526
200
150
3,206
9,981
1,388
7,030
480
300
141
268
564,816
504,440
Share of governance costs {see note 7)
18,759
12,252
583,575
516,692
Analysis by fund
Unrestricted funds
583,575
583,575
For the year ended 31 December 2023
Unrestricted funds
516,692
516.692
23-

LISBURN ENTERPRISE ORGANISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Description of charitable activities
Urban and Economic Re
eneralion
All charitable activities focus on the promolion of urban and economic regeneration in the Greater Lisburn
area.
Support costs allocated to activities
2024
2023
Governance costs
18,759
12,252
Analysed between..
Urban and Economic Regeneration
18,759
12,252
2024
2023
Governance costs comprise,.
Audit fees
Legal and professional
4,475
14,284
5,075
7,177
18,759
12,252
Governance costs includes payments to the auditors of £4,475 (2023 - £5,075) for audit fees and £1,075
(2023 - £nil) for payroll services.
Net movement in funds
2024
2023
The nel movement in funds is slated after chargingl{crediling}'.
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets
4,475
136,903
5,075
137,770
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the
charity during the year.
24-

LISBURN ENTERPRISE ORGANISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
10 Employees
The average monthly number of employees during the year was..
2024
Number
2023
Number
Administration
Employment costs
2024
2023
Wages and salaries
Social security costs
Other pension costs
138,637
10,146
4,079
123,653
8,176
3,930
152,862
135,759
The number of employees whose annual remuneration was more than £60,000
is as follows..
2024
Number
2023
Number
£70,000 - £80,000
Remuneratlon of key management personnel
The remuneration of key managernent personnel was as follows..
2024
2023
Aggregate compensation
73,404
70,060
The charity considers its key management personnel to comprise of the chief executive officer and senior
business advisor.
11 Taxation
The charity is exempt from taxation on its activities because all ils income is applied for charitable purposes.
-25-

LISBURN ENTERPRISE ORGANISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
12 Tangible flxed assets
Freehold
buildings
Plant and Fixtures and
equlpment
fittings
Total
Cost
At 1 January 2024
Additions
Disposals
6,252,671
116,283
179,361 6,548,315
624
624
(1,3551
(1,3551
At 31 December 2024
6,252,671
116,283
178,630 6,547,584
Depreciation and Impalrment
At 1 January 2024
Depreciation charged in the year
Eliminated in respect of disposals
3,469,392
131,768
101,762
1,666
170,038 3,741,192
3,469
136,903
{1,087)
11,0871
At 31 December 2024
3,601,160
103,428
172,420 3,877,008
Carrying amount
At 31 December 2024
2,651,511
12,855
6,210 2,670,576
At 31 December 2023
2,783,279
14,521
9,323 2,807,123
13 Debtors
2024
2023
Amounts falllng due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
25,675
646
1,675
21,673
835
3,626
27,996
26,134
14 Credltors: amounts falling due wlthln one year
2024
2023
Other taxation and social security
Trade creditors
other creditors
Accruals and deferred income
33,700
15,140
60,530
14.386
27,189
9,068
58,525
24,676
123,756
119,458
-26-

LISBURN ENTERPRISE ORGANISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
15 Retirement benefit schemes
2024
2023
Defined contributlon schemes
Charge to profil or loss in respect of defined contribution schemes
4,079
3,930
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the
scheme are held separately from those of the charity in an independenlly administered fund.
16 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are
not subjecl to specific conditions by donors and grantors as lo how they may be used. These include
designated funds which have been sel aside out of unrestricted funds by the trustees for specific purposes.
At 1 January
2024
Incoming
resources
Resources
expended
At31
December
2024
General funds
3,924,267
760,208
1583,575)
4,100,900
Prevlous year:
At 1 January
2023
Incoming
resources
Resources
expended
At31
December
2023
General funds
3,774,802
666,157
{516,6921
3,924,267
17 Operatlng lease commitments
At the reporting end dale the charity had outstanding commitments for future minimum lease payments under
non-cancellable operaling leases, which fall due as follows..
2024
2023
Within one year
Between two and five years
1,611
10,697
1,730
238
12,308
1,968
-27-

LISBURN ENTERPRISE ORGANISATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
18 Cash generated from operations
2024
2023
Surplus for the year
176,633
149,465
Adjustments for..
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
(52,1511
136.903
(11,063)
137,770
Movements in working capilal..
{Increase} in debtors
Increase in creditors
(1,8621
4,298
(4,180)
7,379
Cash generated from operations
263,821
279,371
19 Analysis of changes in net funds
The charity had no material debt during the year.
28-