Charity Number: NIC101394 Loughshore Care Partnership Annual Report and Unaudited Financial Statements for the financial year ended 31 March 2024 Daly Park & Company Ltd Chartered Accountants 4 Carnegie Street Lurgan Co. Amiagh BT66 6AS Northern Ireland
Loughshore Care Partnership CONTENTS Page Reference and Administrative Information Trustees, Annual Report Statement of Trustees, Responsibilities Independent Examiner's Report Statement of Financial Activities 10 Balance Sheet Notes to the Financial Statements 12-16
Loughshore Care Partnership REFERENCE AND ADMINISTRATIVE INFORMATION Trustees Kevin Fox Edith Stevenson- resigned lan Abraham- deceased Mary Smyth- resigned Mary Statford Mary Yarr Mary McAlinden Maria McGrath Sylvia Fegan Emma Doyle Harriet Millsopp Anne Turkinglon Anne Fox Charity Nurnber in Northem Ireland NIC101394 Registered Office and Principal Address 1$1 Floor 2 North Street Luigan Co Armagh BT67 9AQ Independent Examiner Daly Park & Company Ltd Chartered Accountants 4 Garnegie Street Lurgan Co. Armagh BT66 6AS Northern Ireland Principal Bankers Danske Bank P.O.Box 183 Donegall Square West Belfast Co. Antrim BT16JS Northem Ireland
Loughshore Care Partnership TRUSTEES, ANNUAL REPORT for the financial year ended 31 March 2024 The Iruslees present thelr Trustees, Annual Report, combining the Directors. Report and Tru5tees' Report. and the unaudited financial statements for the financial year ended 31 March 2024. The financi81 statements are prepared in accordance with the Companies Act 2006. FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charili6s'. Stalement ol Recommended Practice applicable to charities pparIng their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Trustees, Report contains the inftjrmalion required to be provided in the Trustees, Annual Report under the Slalement of Recommended Practice (SORPI guidelines. The trustees of the company are also charity Iruslees for the purpose of charity law and under the company's constitution are known as members of the board of Iruslees. In this report the trustees of Loughshore Care Partnership present a summary of its purpose, governance, aclivilies. achievements and finances for the financial year 31 Mar¢h 2024. The company is a registered charity and hence the report and results are presented in a fomi which complies with the quirements of the Companies Act 2006 and, although not obliged to comply wilh the Slalement of Recommended Practice (Charities SORP effective January 2015). the organisation has implemented ils recommendations where relevant in these financial statements. structure, Governance and Management StruGture The charity is an unincorporated organisation and is governed by ils constitution. The Trustees have ultimate legal and financial responsibility for Ihe affairs of Loughshore Care Partnership and rnanage the day to day affairs Df the charity themselves. Board meetings are held on a monthly or bi-monlhly basis. All trustees undertake an induction process which covers their roles, responsibilities and main duties, etc. Financial Review The resvlts for the financial year are set out In the Sialement of Flnancial Activity, the Balance Sheet and related notes contained within these financial accounts. Results and Dividends At the end of the financial year the company has assets of £106,144 (2023 - £114,295) and liabilities of £1,130 (2023 - £720). The nel assets of the company have decreased by £(8.5611. Reserves Positton and Policy In recent years, the voluntary I charity sector has faced significant financial difficulties as a whole and the Trustees acknowledge that LCP operates in an environment where Ihere will always be LFn¢ertainty over future income slr8arns and expenditure requirements given the possibility Ihal unforeseen expenses and liabilities that will emerge. Against this background it is considered good practice to seek lo build some finanaal resee$ which vill allow us lo meet future commitments or unforeseen expenses without a negative impact on our ability to deliver our services or develop our business in the manner planned. By holding reserves we are able to.. 1. Absorb setbacks and take advanlage ofchange and opportunity., 2. Demonstrate that we have thought through how we might secure our viability beyond the immediate fulure and provide reliable ServIS over the longer term- 3. Demonstrate to potential funders that we are effectively managing our resources, and have given consideration to our long-term plans and viability. There is no absolute level of free reserves that we as an organisalion should hold but when looking at the level of free reserves consideration should include.. 1. How secure is our present funding? 2. How long would it take to find alternative sources of funding. 3. If the organisation had lo close. how long would il take to wind up in an orderly manne 4. What costs could be involved in winding up? - consider.. Redundancy costs b. Other staffing liabilities including maternity I paternity pay c. Legal and accountancy costs As a general guide an acceptable level of free reserve might be considered to be..
Loughshore Care Partnership TRUSTEES, ANNUAL REPORT for the financial year ended 31 March 2024 1. Sufficient fe resetves lo provide cover for up to six months in relation to know liabilities., and 2. An additional provisicn of unrestrictèd reserves for unforeseen liabilities. LCP continues to review and updale its reserves policy on an annual basis to take account of any change in circumstance. Trustees The trustees who served throughout the financial year, except as noted, were as follows: Kevin Fox Maria McGrath Edith Stevenson - resigned Sylvia Fegan lan Abraham - deceased Emma Doyle Mary Smyth- resigned Harriet Millsopp Mary Slatford Anne Turkington Mary Yarr Anne Fox Mary McAlinden In accordance with the Articles of Association, the directors retire by rotation and, being eligible, offer themselves for re-election. Compliance wlth Se¢tor-Wide Legislation and Standards The company engages pro-actively with legislation. standards and codes which are developed for the sector. Loughshore Care Partnership subscribes to and is compliant with the following.. The Companies Act 2006 The Charities SORP {FRS 102) Structure, governance & management. Public Benefit Lough5hore Care Partnership was established in August 2003 as a new and innovative programme of care for older persons in isolated rural areas. The partnership ig made up of associates frorn the local stalulory. voluntary and community sector. Its aim is lo provide locally based health and Social care Services to those living in rural areas ol the southern shores of Lough Neagh. Public Benefit Slatement In setting our objectives and planning our activities for the year the Iruslees have given careful consideration to the Charity Commission for Northern Ireland's guidance on public benefit lo ensure that the activities have helped lo achieve the charity's purposes and provide a benefit lo Ihe beneficiaries. The benefits of Loughshore Care Partnership are both clear and directly related lo the charity's aims and objectives. These benefits are and will be demonslraled through surveys of satisfaction at the end of any course. increased attendance at relevant meetings and advice and guidance soughl by members. The Charity beneficiaries are people living in the Lough Neagh area and the Surrounding areas. Loughshore Care Partnership Chaimian's Report The senior citizens, groups, under Loughshore Care Partnership, continue lo support the elderly people of the rural Loughshore catchment area and are delighted that new members and new volunteers have joined these groups. They are very wel¢om¢. Our group volunteers have shown loyalty and dedication lo Ihe senior citizens, ensuring that they have a safe and friendly place to chat. build friendships and engage in varied activities. They deserye greal credit for their commitment to their community. The volunteers continue to encourage new members and support those still hesitant lo return to the dubs through regular phone calls. Without our funders we would not be able to bring such a Sel¢e and such a varied programme of activities to Ihe senior citizens. Our funders include Southern Health and Social Care Trust. Department of Communities. ABC Council, Garfield Westem. Arts Council Nl, and Ih05e who businesses that have made donation to us during the year such as Hysler, Tesco and GroundforceNI. We are particularly indebted to Ihe SHSCT with whom we have a Service Level Agreement. This is extremely valuable, allowing us to meet insurance, rental, administration, and general running costs. We also value their advice and general support and our meetings with the Trust representalives are positive and beneficial. We wish to thank DART Partnership for their Signifint assi$lanGe, ensuring Ihal senior citizens have transport to the lubs each week. Many drivers are volunteers, and they carry out their tasks with due Care and consideraon lo the elderly. NewAction Plan In the latter part of 2023. we engaged consultant Patrick McKenna to work closely with the groups we work with and the Loughshore Care Partnership (LCPI committee members. His extensive efforts enabled us lo develop a new
Loughshore Care Partnership TRUSTEES. ANNUAL REPORT for the financial year ended 31 March 2024 Ihree-year action plan for 2024-2026. This plan has been unanimously endorsed by LCP as our strategic direction. and we have already begun its implementation. Loughshore Minds Matter ProJecL The Loughshore Minds Matter project aims to provide vital support lo the rural community living along Ihe southem shores of Lough Neagh. Its goal is to offer a variety of intervenlions and activities suitable for people of all ages. addressing the adverse effects of isolation experienced, particularly during the COVID-19 pandemic on their mental well-being. The project coordinator. Hazel Boland, has actively engaged with local groups and collaborated wilh staff from the ABC Council and Ihe Trust to secure additional support. Notably. we've facililaled the presence of the Cancer Focus Bus al various venues in recent months. This project is funded Ihrough the Department of Health and the Community Foundation. The Loughshore Minds Matter project has made a significant diffenCe lo the engagement and entertainment of the senior citizens. This projecl brings so much energy and creativity, bringing new experiences lo the senior citizens. It has enriched their lives and has assisted volunteers in planning and provision of activities. The project acknowledges and appreciates the dedication ar7d hard work of the staff members involved in delivering its servIs. Verve Healthy Living Network LCP recently became part of the Verve Healthy Living Network and will cover the rural south Lough Neagh area. As a member of the Verve Healthy Living NetWOTk will bring significant benefits to the rural south Lough Neagh area. As part of this network, LCP will gain access to a wide range of health and wellbeing programmes tailored lo local needs. including inilialives focused on healthy lifestyles. mental and emolional wellbeing, and socral inclusion. The partnership will strengthen community engagement. increase the availability of health resources. and provide opportunities for shad learning with other nelwork members. A big Thank You to our voluntsers Loughshore Care Partnership extends ils gratitude in recognition of the diligent efforts and the commitment shown by Ihe volunteers with whom it collaborates on a weekly basis. They certainly are a prime example of motivation which will hopefully inspire others to become involved in helping in their community in the fvture. New volunteers are always encouraged to participate and dedicate a few hours each week to any of the groups we work with. Remember the act of giving and connecting with others through volunteering is one of the most meaningful ways of making a valuable contribution to your community. Acknowledging Our Team and Offering Support Despite the current challenges in the fvnding arena, we have continued to secure significant financial support from varrous sources. This success is largely due to Ihe dynamism and dedication of Mary McAlinden. Her meticulous management of LCP'S financial matters, coupled with her deep understanding of community development, has been Instrumental in our ongoing success. To those who have faced health challenges this year. we send our wamiest wishes for a swift recovery and a return lo fijll health. Vve extend our heartfelt condolences to those who have eXperIend loss within the LCP and our senior cilizen8' groups. especially lo the family of lan Abraham from Derryadd, a valued LCP committee member who recently passed away. To the future Challenges remain for LCP. We need new volunteers who share our commitment for the people in this area. We need to reach out to isolated people who may be unaware of our groups, aclivilies. To promote this. we are working on the development of a social media presence and have also produced posters and flyers for the 2024125 Senior Citizens programme of adivilies. We remain hopeful and optimisti¢ as we contsnue to maintain and improve our support for the rural comrnunity that we serve around the Loughshore.
Loughshore Care Partnership TRUSTEES, ANNUAL REPORT for the financial year ended 31 March 2024 Approved by the Board of Trustees on /' .5¢f and Signed on its behalf by: Mary Trustee Alinden Mary Trus rr
Loughshore Care Partnership STATEMENT OF TRUSTEES, RESPONSIBILITIES for the finanoal year ended 31 March 2024 The Iruslees. who are also directors of Loughshore Care Partnership for the purposes of company law. are spOnSible for preparing the financial slalemenls In accordance with applicable law and regulations. Company18w requires the trustees as the directors to prepare financial statements for each financial year. Under Ihal law the Iruslees have elected to prepare the financial slalemenls in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law} including FRS102 'The Fin8n¢ial Reporting Standard applicable in the UK and Republic of Ireland" Under Company law the Iruslees musl not approve the financial slalemenls unless they are satisfied that they give a true and fair view of the slate ol affairs of the company and of the nel income or expenditure of the company for Ihal period. In preparing these financial slatemenls, the twslees are required to.. select suitable accounting policies and apply them consistently.. make judgements and eslimales that are reasonable and prudent.. slate whether the financial s12lements have been prepaied in accordance wllh the relevant financial reporting framework, identify those stsndards. and note the effect 2nd the ieasons for any material departure from those standards.. and prepare the financial statements on the going concem basis unless it is inappropriate lo presume that the company will continue in operation. The trustees confirm that they have complied with the above requirements in preparing the financial slalements. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy al any lime the financial position of the company and enable them lo ensure that the financial Statements comply with. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other iiregularilies. Approved by the Board of Trustees on Jo ,& Fr and signed on its behalf by: Marym Trustee linden Maryy Truste
Loughshore Care Partnership INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF LOUGHSHORE CARE PARTNERSHIP We have examined the financial ststemenls ofthe company for the financial year ended 31 March 2024, which comprise the Statement of Financial Activities (Incorporating an Income and Expenditure Account), the Balance Sheet and the related notes. This report is made solely to the company's members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our work has been undertaken so that we might compile the financial slalements that we have been engaged to compile, report to the Board of Trustees that we have done so, and slate those matters that we have agreed to stale to them in this report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume SpOnsIbl11ty lo anyone other than the company and Ihe cornpany's members. as a body, for our work. or for this report. Respective rèsponsibilities of trustees and examiner The company's trustees (who are also the directors of Ihe company for the Purposes of company law) are responsible for the preparalion of the financial statemenls in accordance with the requirements of the Companies Act 2006. The company's trustees consider that an audit is not reqUId for this financial year under Chapter 3 of Patt 16 of the Companies Act 2006 and that an independent examination is required. It is our responsibility to.. examine the financial statements under section 65 of Ihe Charities Act,. follow the procedures laid down by the general Directions given by the Charity Commission for Northern Ireland under section 65(91{b) of the Charities Act,- and state whether particular matters have come to our attention. Basis of independent examiner's report We have examined your company financial statements as required under section 65 of the Charities Act and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9llb) of the Charitie$ Act. An examination includes a review of the accounting records kept by the company and a comparison of the financial slatefflenls presented with those records. 11 also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from the Iruslees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounls present a 'true and fairf view and the report is limited to those matters set out in Ihe sfatement below. In connection with our examination. no matter has come to our attention which gives us cause to believe that in, any material respect.. accounting records were not kepl in accordance with section 386 of the Companies Act 2006 the financial statements do not accord with those accounting records the financial slalement5 have not been prepared in accor¢Jance with the accounting requirernenls of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice applicable to charities preparin9 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS1021 there is fijrther infomiatlon needed for a proper underslanding of the accounts lo be reached. Independent examlner's statement We have no concerns and have come across no other matters in cannection with the examination to which attention should be drawn in this port in order to enable a proper understanding of the financial statements lo be reached. & COMPANY LTD Ch ered Accounlanls 4 Carnegie Street Lurgan Co. Armagh BT66 6AS Northern Ireland
Loughshore Care Partnership STATEMENT OF FINANCIAL ACTIVITIES Ilncorporating an Incomè and Expendituie Account) for the financial year ended 31 March 2024 Unrestricted Restricted Funds Funds 2024 2024 Total Unrestricted Restricted Funds Funds Funds 2024 2023 2023 Total Funds 2023 Notes Incoming Resources Voluntary Income Investments Other income 67,042 296 40,259 107.301 296 27.420 378 8,440 132.846 160,266 378 8.440 Total incoming resources 67,338 40,259 107,597 36,238 132,846 169,084 Resources Expended Charitable activities 20,353 95.805 116,158 31,694 117.907 149.501 Net incomingloutgoing resources before transfers 46,985 155,546) {8,5611 4.644 14,939 19,583 Gross transfers between funds (1.881) 1,881 Prlof financial year adjustment Net movement in funds for the financial year 4.951 {4,9511 51,936 (60,497) 18,561) 2,763 16,820 19.583 Reconciliation of funds: Total funds beginning of the year 13 33,466 80,109 113.575 30.703 63,289 93,992 Total funds at the end of the year 85,402 19,612 105,014 33,466 80.109 113,575 The Statement of Financial Activities includes all gains and losses recognised in the financial year. All income and expenditure relate to continuing activities. The notes on pages 12 to 1 S form part of the frnancial slalemgnts 10
Loughshore Care Partnership Company Numbei.. BALANCE SHEET as al 31 March 2024 2024 2023 Notes Current Assets Deblors Cash al bank and in hand 10 1,044 105.100 1,493 112,802 106,144 114,295 Credltors: Amounts falling due wlthin one year 11 11.1301 17201 Net Current Assets 105,014 113,575 Total Assets less Current Liabilitie9 105,014 113.575 Funds Restricted trust funds Designated funds (Unrestricted) General fund lunrestricled) 19,612 48,000 37,402 80,109 33.466 Total funds 13 105.014 113.575 These financial slalemenls have been prepared in accordance with the special provisions relating lo small companies within Part 15 of the Companies Act 2006. For the financial year ended 31 March 2024 Ihe company was enlilled lo exemption from audit under section 477 of the Companies Act 2006., and no notice has been deposited under section 476. The trustees confirm that the members have not required the company lo ob18in an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for ensuring that the company keeps aceounling records which comply with section 386 and for preparing financial statements which give a true and fair view of the slate of affairs of the company as al the end of the financial year and of ils profit and 1055 for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Cornpanies Act 2006 relating lo financial statements. so far as applicable to the Company. Approved by the Board of Trustees and authorised for issue on /() e&r a LJ behalf by and signgd on its Marym Trustee Alindèn Mary Ya Trv$te The ncles on pages 12 to 16 fomi part of the financial statements 11
Loughshore Care Partnership NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 GENERAL INFORMATION Loughshore Care Partnership is a company limiled by shares incorporated in Northern Ireland. The registered office ofthe company is 1 Maghery Business Cenlre, Maghery. County Tyrone, Bucks, BT716PAwhich is also the principal place of business of the company The financial statements have been presented in Pound (£) whlch is also the functional currency of the company. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounting poliaes have been applied consislently in dealing with items which are considered material in relation to ihe charity's financial statements. Basls of preparation The financial statements have been ppared on the going concern basis under the historical cost convention, modified to include certain ilerns at fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing Iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" As permitted by Ihe Companies Act 2006, the company has varied the standard forrnats in Ihal act for the Slalement of Financial Activities and the Balance Sheet. Departures from the standard formals are lo comply with the reguiremenls of the Charities SORP and are in compliance with section 4.7, 10.6 and 15.2 of that SORP. Staternont of compllan¢e The financial statements of the company for the financial year ended 31 December 2017 have been prepared on the going concern basis and in accordance with the Stalemenl of Recommended Practice {SORP) "Accounling and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" Cash flow statement The company has availed of the exemption in FRS 102 from the requirement to produce a cash flow statement because it is ¢lassified as a small company. InGoming Resources Voluntary income or capital is included in the Slalement of Financial Activities when the company is legally entitled to it, ils financial value can be quantified with reasonable rtaInty and there is reasonable certainty of Its ultimate receipt. Entitlement to legacies is considered established when the company has been notified of a dislribulion to be made by Ihe executors. Income received in advance of due performance under a contract is accounted for as deferred income until eamed. Grants for activities are recognised as income when the related conditions for legal entitlement have been met. All other income is accounted for on an accruals basis. Resources Expended All resources expended are accounted for on an accruals basis. Charitable activities include costs of services and grants, support costs and depreciation on related assets. costs of generating fvnds sirnilarly include fundraising aclivities. Non-staff costs not attributed to one category of activity are allocated or apportioned pro- rata to the staffing of the relevant service. Finance, HR, IT and administrative staff costs are directly attributable lo individual activities by objective. Governance costs are those associaled with constitub'onal and slalutory requirements. Tanglble fixed assets and depre¢lation Tangible fixed assets are stated al cost or at valuation. less accumulated depreciation. The charge to depreciation is calculated to wiite off the original cost or valuation of tangible fixed assets. less their estimated sidual value, over their expected usefijl lives as follows.. Fixtures, fittlngs and equipment 20Yts Straight line 12
continued Loughshore Care Partnership NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 Debtors Debtors are recognised al the settlement amount due after any discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. Income recognised by the company from government agencies and other co-funders. bul not yet received at year end, is included in debtors. Cash at bank and in hand Cash at bank and in hand comprises cash on deposit at banks requiring le5S than three months, notice ol withdrawal. Taxatlon No current or deferied tsxalion arises as the company has been granled charitable exemption. Irrecoverable valued added tax is expensed as incurred. INCOME DONATIONS AND LEGACIES Unrestricted Restri¢ted Funds Funds 2024 2023 GRANTS RECEIVED 67.042 40,259 107.301 160.266 INVESTMENTS Unrestricted Restrlcted Funds Funds 2024 2023 Investments 296 296 378 OTHER INCOME Unrestricted Restricted Funds Funds 2024 2023 Other income 8,440 EXPENDITURE CHARITABLE ACTIVITIES Direct Costs 2024 2023 Grant funded expenditure Other expenditure 95.805 20.353 95,805 20,353 133,272 16.229 116,158 116,158 149,501 SUPPORT COSTS Charltable Activities 2024 2023 Project Costs Accountancy & Other Professional Fees General offi¢e costs Advertlslng & Markeling Wages and Salaries Sundry Costs Travel & Subsistence Bank Charges Staff Training Premise5 Costs 42,975 5,050 11,434 42.975 5,050 11,434 26,905 2,050 12,658 6.200 92,549 4,347 832 203 2.757 1,000 53.299 1,990 75 148 53.299 1,990 75 148 1,187 1,187 116,158 116,158 149,501 13
continued Loughshore Care Partnership NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 NET INCOMING RESOURCES 2024 2023 Net Incoming Resources are ststed after chargingllcreditingl: Depreciation of tangible assels 777 INVESTMENT AND OTHER INCOME 2024 2023 Bank interest 296 378 EMPLOYEES AND REMUNERATION The staff costs comprise: 2024 2023 Wages and salaries Pension costs 51,163 2,136 99.100 1,575 53,299 100,675 TANGIBLE FIXED ASSETS Fixtures, fittings and equipment Total Cost At 31 March 2024 11,507 11,507 Depreciation At 31 March 2024 11,507 11,507 Net book value At 31 March 2024 10. DEBTORS 2024 2023 Prepayments and accrued income 1,044 1.493 CREDITORS Amounts falling due within one year 2024 2023 Taxation and social security costs Accruals and deferred income 176 954 720 1.130 720 12. RESERVES 2024 2023 At the beginning of the year (Deficitllsurplus for the financial year 113,575 {8,5611 93.992 19.583 At the end of the year 105,014 113,575 14
continued Loughshore Care Partnership NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 13. FUNDS 13.1 RECONCILIATION OF MOVEMENT IN FUNDS UnrE$triGted Restricted Funds Funds Totsl Funds Al 1 April 2022 Movement during the financial year 30,703 2,763 63.289 16,820 93.992 19,583 At 31 March 2023 as previously slated Prior financial year adjustment 33,466 4.951 80,109 (4,9511 113,S75 At 31 March 2023 Movement during the financial year 38,417 46,985 75.158 (55,5461 113,575 (8,561) At 31 March 2024 85,402 19.612 105,014 13.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance Income Expenditure 1 April 2023 Transfers Prior between year funds adjustments Balance 31 March 2024 Restricted funds The National Lottery Community Fund 24.820 21,224 41.093 14,9511 Amiagh City Banbridge & Craigavon Borough Counol 4,971 4,971 Garfield Weston 12,651 11.897 754 The Community Foundation 33.173 13,394 27.709 18,858 LFT Charitable Trust 4,185 4.185 Arts Council of Northem Ireland 4.280 670 4,950 Sir Jules Thom Charitablè Trusl 1.000 1,000 80,109 40.259 95.805 (4.951) 19,612 Unrestricted funds Designated Projects 23,000 23,000 25.000 25.000 Designated Contingency Unreslrided General 33,466 67.338 20.353 {48.0001 4.951 37,402 33,466 67,338 (20.353} 4.951 85,402 Total funds 113,575 107,597 116,158 105,014 15
continued Loughshore Care Partnership NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 The Trustees updated their reserve policy during the 2024 financial year and have separately designated two additional unrestricted reseNes. An arnount of £23,000 has been set aside for specific training and project work that has been planned along with an additional £25,000 which has been set aside as a separate contingency reserve. In line with the Reserves policy, the Trustees will continue to review and monitor reserves on an annual basis. 13.3 ANALYSIS OF NET ASSETS BY FUND Fixed assets - charity use Current assets Current liabilities Total Restricted trust funds 19.612 19,612 Unrestricted general funds 85,488 (1,130) 85,402 1,044 105.100 {1.130) 105,014 14. TRUSTEE REMUNERATION None of the Trustees received nor waived any remuneration for their services as Trustees in eilherthe current or previous financial year. INDEPENDENT EXAMINERS FEE Daly Park & Company Ltd. charged an independent examiners fee of £720 for the CLrrrenl financial year (2023 £720). They also invoiced for payroll setvices provided to LCP amounting to £576 for the 2024 financial year (2023 - £504). 16