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← Belfast Lough Sailability

2025-12-31-annual-report

BELFAST LOUGH SAILABILITY

Trustees Annual Report and Unaudited Financial Statements for the year ended 31 December 2025

Registered Charity in Northern Ireland (NIC101461)

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BELFAST LOUGH SAILABILITY Financial Statements Year ended 31 December 2025

Contents

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||||||| |---|---|---|---|---|---| |CHARITY|REFERENCE AND ADMINISTRATIVE|DETAILS...............ccccescesscescesnseessanesersenssesernaseseeeeseeesesrenseease|O| |STRUCTURE AND|MANAGEMENT..........::c:ccsccscessescecetesosecereccserenssensaneasastessucseesecsseesecssaseeresasssssessesseses| |DESCRIPTION|AND|PURPOSE|....0........ccccccccscesccssenecsesecensecrsncessenersusssarsusensessasecnsssnesereecsneecseenacessnesserstettces|D| |RESPONSIBILITIES|IN|RESPECT OF THE|FINANCIAL STATEMENTS|..........c.cccceccessesessecenessteeeesensersetnssenenes|D| |STATEMENT OF|FINANCIAL ACTIVITY|(INCLUDING|INCOME AND EXPENDITURE|ACCOUNT).................|13| |NOTES TO THE|ACCOUNTS|.........ccccscccccsecseseessessensnevsceseneaessesanenansasouecedecneassssseessestersasseecssesecsseenessensarenseees|LO|

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BELFAST LOUGH SAILABILITY Year ended 31 December 2025

CHARITY REFERENCE AND ADMINISTRATIVE DETAILS

Registered charity name Belfast Lough Sailability Charity registration number NIC101461 Principal office Marina Building, 3 Quayside, Carrickfergus, BT38 8BE

The trustees Mr A Bisp Chairperson Mr D Goodfield Vice Chairperson Ms A Blair Honorary Secretary Mr J Kinner Honorary Treasurer Bankers Danske Bank The Co-operative Bank - Business Donegal Sq West Business Customer Services Belfast PO Box 4931 Co Antrim Swindon BT1 6JS SN4 4PL

independent examiner Simon Hopper F.C.A. Hopper & Co 6 Doagh Road Ballyclare BT39 9BG

BELFAST LOUGH SAILABILITY TRUSTEES REPORT Year ended 31 December 2025

TRUSTEES' ANNUAL REPORT

The Trustees present their report and the unaudited financial statements of the charity for the year ended 31°* December 2025. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities " (FRS | 02 Section 1A) in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the financial statements and applicable accounting standards, 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of ireland (FRS 102 Section 1A), the charity's governing document, the Charities Act (Northern Ireland) 2008, Charities Act (Northern treland) 2013, The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 and UK Generally Accepted Practice.

TRUSTEES OF THE CHARITY

The trustees who have served during the year were as follows:

Mr A Bisp Chairperson Mr D Goodfield Vice Chairperson MsA Blair Honorary Secretary MrJ Kinner Honorary Treasurer

REFERENCE AND ADMINISTRATIVE DETAILS

The registered name of the charity is Belfast Lough Sailability, charity registration number: NIC101461

Principal office

Marina Building, 3 Quayside, Carrickfergus, BT38 8BE

The trustees

Mr A Bisp Chairperson Mr D Goodfield Vice Chairperson Ms A Blair Honorary Secretary MrJ Kinner Honorary Treasurer

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BELFAST LOUGH SAILABILITY TRUSTEES REPORT Year ended 31 December 2025

Bankers Danske Bank The Co-operative Bank - Business Donegal Sq West Business Customer Services Belfast PO Box 4931 Co Antrim Swindon BT1 63S SN4 4PL Independent examiner Simon Hopper F.C.A. Hopper & Co 6 Doagh Road Ballyclare BT39 9BG

STRUCTURE AND MANAGEMENT

Governing Document

Belfast Lough Sailability (BLS) is a charity registered with the Charity Commission for Northern Ireland. Its operations are governed by a Trust Deed. The Trustees named above oversee the charity’s activities and finances and decide how it will achieve its objectives.

DESCRIPTION AND PURPOSE

BLS recognises sailing and power boating as therapeutic exercises benefiting those with physical, mental and learning difficulties. its activities include training, recreation and competition; and the protection and preservation of health and safety. As a RYA Recognised Training Centre (RTC), BLS provides instruction in sailing, powerboating and other skills. BLS supports the focal community by providing safety boats & trained crews at open sea water events.

ACTIVITIES AND OBJECTIVES

BLS has a fleet of9 sail boats and 4 power boats. Working from Carrickfergus Marina and Harbour, BLS provides sailing & boating opportunities to people with disabilities and from disadvantaged backgrounds (participants). Participants can choose to enjoy recreational or leisure boating, undertake training & education or compete in competitions. BLS has a team of qualified instructors to provide RYA internationally recognised qualifications in sailing/powerboating, first aid, VHF radio, navigation & disability awareness. BLS also proactively promotes volunteering opportunities to enhance a sense of

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BELFAST LOUGH SAILABILITY TRUSTEES REPORT (cont'd) Year ended 31 December 2025

inclusion and self-worth in its members. Our activities promote social inclusion, increase confidence and self-esteem and promote community values along with many added health benefits. Our RYA RTC provides education and training to people of all abilities and backgrounds through the delivery of an annual training programme of activity to develop members’ skills.

ACHIEVEMENTS AND PERFORMANCE

BLS delivers its activities in the following five key areas:-

  1. Members’ & Open Sessions

  2. Weekly Saturday morning sessions (all year round)

    • Weekly Wednesday evening sessions (May-September)}

  4. Group Visits from Special Needs Schools and Adult Centres (May-September)

  5. 3, Training and Development

  6. Hosting Events

  7. Community Support

These experiences raise awareness of accessible boating, breaking down barriers between people with disabilities and able-bodied, and promotes boating as an active healthy sport.

During 2025, BLS’ achievements included but was not limited to:-

increase In Membership

Group Visits

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BELFAST LOUGH SAILABILITY TRUSTEES REPORT (cont’d) Year ended 31 December 2025

Training & Development Programme

RYA Accredited Awards

Through BLS’ bespoke training programme, and external training, participants and volunteers were able to develop their skills to attain RYA accredited awards and certificates.

They include the following:-

Maintenance of Fleet

Events

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BELFAST LOUGH SAILABILITY TRUSTEES REPORT (cont'd) Year ended 31 December 2025

Community Support

BLS provided safety cover and volunteer support at a number of events across Belfast Lough to support the local community and in particular for events hosted by Carrickfergus Sailing Club.

PUBLIC BENEFIT STATEMENT

The Trustees and Management Committee of BLS confirm that they have had due regard for the guidance produced on public benefit by the Charity Commission for Northern Ireland and are pleased to report that during the year the charity has continued to provide public benefits through the programmes, activities and services offered. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set out.

FINANCIAL REVIEW

The charity returned a surplus of £23,955 (2024: surplus £11,955) for the year. As at 31 December 2025, the charity has funds carried forward of £204,578 (2024: £180,623).

GOING CONCERN

The activities of the charity is dependent on ongoing fundraising activities. The Trustees are of the opinion that the charity has sufficient resources at the date of approval of these financial statements to meet commitments which will arise in the year from the date of signing this report.

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BELFAST LOUGH SAILABILITY TRUSTEES REPORT (cont’d) Year ended 31 December 2025

RESERVES POLICY

The Charity aims to retain ‘free’ reserves i.e. those unrestricted reserves not designated for capital purposes, for a minimum one year’s expenditure. The trustees consider that this ensures that in the event of a significant drop in funding they will be able to continue activities while working to source alternative funding. The charity ‘free’ reserves as at 31 December amounted to £39,467 and are slightly above the trustees target of £35,015.

RESPONSIBILITIES IN RESPECT OF THE FINANCIAL STATEMENTS

The trustees 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).

Charity law requires the trustees to prepare financial statements 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 charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act (Northern Ireland) 2008 and Charities Act (No1thern Ireland) 2013 and Charities (Accounts and Reports) Regulations (Northern Ireland) 2015. 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.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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BELFAST LOUGH SAILABILITY TRUSTEES REPORT (cont’d) Year ended 31 December 2025

RISK REVIEW

A review of major risks has been undertaken by the Trustees and systems and procedures implemented to manage identified risks. The principal risks are in relation to the likelihood of reputational damage and financial risks associated with the expectation of ongoing financial support from funders. These risks are mitigated by the Trustees regularly monitoring the various activities of the charity at stated meetings and by reviewing available funding streams.

FUTURE PLANS

It is the Trustees' intention to develop the present activities of the charity with a focus on:-

Disclosure of Information to Independent Examiner

So far as each of the Trustees in office at the date of approval of[these][financial][statements][is][aware:]

Independent Examiner

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Hopper & Co., have indicated their willingness to remain in office and a resolution for their re-election will be proposed at the forthcoming Annual General Meeting.

Approved by the trustees at a meeting on 25 March 2026 and signed on its behalf by:

Ms A Blair Trustee

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BELFAST LOUGH SAILABILITY INDEPENDENT EXAMINERS REPORT Year ended 31 December 2025

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INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF BELFAST LOUGH SAILABILITY

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| report on the financial statements of Belfast Lough Sailability for the year ended 31°* December 2025 which are contained within the 2025 Annual Report.

Respective responsibilities of trustees and independent examiner

Belfast Lough Sailability’s trustees are responsible for the preparation of the financial statements in accordance with the terms of the Charities Act (Northern Ireland) 2008.

Belfast Lough Sailability’s trustees consider that an audit is not required under section 65(2) (audit) of the Charities Act (Northern Ireland) 2008 for the year and that an independent examination under section 64(1) of the Charities Act (Northern Ireland} 2008 is required.

It is my responsibility to:

Basis of independent examiner's report

My examination was carried out under Section 65 of the Charities Act (Northern Ireland) 2008. An examination includes a review of the accounting records kept by the Charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from the trustees concerning any such matters. The procedures do not provide all the evidence that would be required in an audit, and consequently | do not express an audit opinion on the view given by the financial statements.

independent examiner's statement

In the course of my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that in any material respect the requirements:

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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

S Hopper FCA Partner Hopper & Co

25 March 2026

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BELFAST LOUGH SAILABILITY

STATEMENT OF FINANCIAL ACTIVITY (INCLUDING INCOME AND EXPENDITURE ACCOUNT) for the year ended 31 December 2025

Note Unrestricted Restricted Total Total
Funds Funds 2025 2024
£ £ £ £
income from:
Donations and legacies 2 5,736 47,960 53,696 39,551
Charitable Activities 3 5,386 - 5,386 3,366
Investment Income 4 10 - 10 162
Other Income 5 499 - 499 -
Total income 11,631 47,960 59,591 43,079
Expenditure on:
Charitable activities 7 35,015 621 35,636 31,124
Total Expenditure 35,015 621 35,636 31,124
NetIncome (23,384) 47,339 23,955 11,955
Transfer in funds 43,116 {43,116} - -
Net movement in funds 19,732 4,223 23,955 11,955
Funds broughtforward 174,043 6,580 180,623 168,668
Fundscarriedforward 15 193,775 10,803 204,578 180,623

All income and expenditure derive from continuing activities.

The statement of financial activities includes all gains and losses recognised during the year.

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BELFAST LOUGH SAILABILITY BALANCE SHEET

As at 31 December 2025

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||||||| |---|---|---|---|---|---| |Note|2025|2024| |Fixed|Assets|£|£| |Tangible|Fixed|Assets|13|154,308|123,297| |Total|fixed|assets|154,308|123,297| |Current|Assets| |Cash|and|cash|equivalents|51,110|58,166| |Total|current|assets|51,110|58,166| |Creditors: amounts|falling due|within one year|14|840|840| |Total|Creditors|840|840| |Net Current Assets|50,270|57,326| |Total|Net Assets|204,578|180,623| |Funds|of the|charity| |Unrestricted|funds|15| |General|funds|193,775|174,043| |Restricted|funds|10,803|6,580| |Total|charity funds|204,578|180,623|

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These financial statements were approved by the board of trustees and authorised for issue on 26 March 2025 and are signed on behalf of the board by:

“doSQ Ms A Blair Trustee

Mr A Bisp Trustee

The notes on pages 13 to 24 form part of these financial statements.

BELFAST LOUGH SAILABILITY NOTES TO THE ACCOUNTS for the year ended 31 December 2025

1. ACCOUNTING POLICIES

General information

The charity constitutes a public benefit entity as defined by FRS 102. The address of the principal office is Marina Building, 3 Quayside, Carrickfergus, Co Antrim, BT38 8BE.

Statement of compliance

The financial statements have been prepared in accordance with the accounting policies set outin notes to the financial statements and applicable accounting standards, 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of ireland (FRS ! 02 Section 1A), the charity's governing document, the Charities Act (Northern Ireland) 2008, Charities Act (Northern Ireland) 2013 , The Charities (Accounts and Reports) Regulations (Northern ireland) 2015, and UK Generally Accepted Practice.

The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are prepared in sterling which is the functional currency of the charity rounded to the nearest £1.

The significant accounting policies applied in the preparation of these financial statements are set out below. The trustees consider that these policies are suitable, have been consistently applied and are supported by reasonable and prudent judgements and estimates.

FUND ACCOUNTING

The charity has various types of funds for which it is responsible, and which require separate disclosure. A definition of the various types of funds is as follows:

Restricted funds comprise (a) income from endowments which is to be expended only on the restricted purposes intended by the donor and (b) revenue donations or grants for a specific charitable activity intended by the donor. Where these funds have unspent balances, interest on their pooled investment is apportioned to the individual funds on an average balance basis.

BELFAST LOUGH SAILABILITY NOTES TO THE ACCOUNTS (cont’d)

31 December 2025

Unrestricted funds are funds which are expendable at the discretion of the Charity in furtherance of its objectives. In addition to expenditure on activities such funds may be held in order to finance capital investment and working capital.

Designated funds are general funds set aside by the trustees for use in the future.

INCOMING RESOURCES

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity, and it is probable that they will be fulfilled.

Voluntary income received by way of donations and gift is credited to revenue on a receivable basis.

The charity receives grants in respect of support services. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received, and the amount can be measured reliably.

if entitlement is not met, then these amounts are deferred. Revenue grants are credited to incoming resources on the earlier date of when they are received or when they are receivable unless they relate to a specified future period.

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Other income represents income that cannot be reported under the other analysis headings provided within the SoFA.

{i) incoming resources with related expenditure

Where incoming resources have related expenditure (as with insurance proceeds) the incoming resources and related expenditure are reported gross in the SoFA.

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BELFAST LOUGH SAILABILITY NOTES TO THE ACCOUNTS (cont’d)

31 December 2025

{ii} Grants and donations Grants and donations are only included in the SoFA when the charity has unconditional entitlement to the resources.

(iii) | Tax reclaims on donations and gifts. incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which they relate.

{iv) | Contractual income and performance related grants This is only included in the SoFA once the related goods or services have been delivered.

{v) Gifts in kind

Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SoFA as incoming resources when receivable.

(vi) | Donated services and facilities

These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value place on these resources is the estimated value to the charity of the service or facility received.

{vii} Investment income This is included in the accounts in the period to which it relates.

(viii) Investment gains and losses This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

EXPENDITURE AND LIABILITIES

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. It is categorised under the following headings:

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BELFAST LOUGH SAILABILITY NOTES TO THE ACCOUNTS (cont’d)

31 December 2025

{i) Liability recognition

Liabilities are 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.

(ii) Governance costs

These are shown within charitable activities and include the costs of preparation and examination of accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters.

(iii) | Grants with performance conditions Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output.

{iv) | Grants payable without performance conditions These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity.

{v) Support costs

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs and administrative payroll costs.

They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings, they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Premises overheads have been allocated on a basis consistent with the use of the resources. Staff costs and other overheads have been allocated based on time spent, per capita and activity.

Employee benefits

When employees have rendered service to the charity, sholt-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Value Added Tax

The charity is not registered for VAT purposes, therefore expenditure is shown gross of VAT.

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BELFAST LOUGH SAILABILITY

NOTES TO THE ACCOUNTS (cont’d)

31 December 2025

ASSETS

(i) Tangible Fixed Assets

The cost of tangible fixed assets is their purchase cost, together with any incidental costs of acquisition. Depreciation is calculated so as to write off the cost of tangible fixed assets, less their estimated residual values, on a straight-line basis over the expected useful economic lives of the assets concerned. The principal annual rates used are as follows:

Equipment

10% Reducing balance

in accordance with FRS102, assets under construction are not depreciated until such times as they are available for use. Where the recoverable amount of a fixed asset is found to be below its net book value, the asset is written down to the recoverable figure and the loss on impairment is recognised in the SoFA.

{ii} Investments investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees’ best estimate of market value.

Leases

Rentals payable under operating leases are charged to the SoFA on a straight-line basis over the period of the lease.

Tax

The charity benefits from various exemptions afforded by tax legislation. It is therefore not liable to corporation tax on income or gains falling due within those exemptions. Recovery is made of tax deducted from receipts under gift aid.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure are sufficient with the level of reserves for the charity to be able to continue as a going concern.

Judgements and key sources of estimation uncertainty

The following judgements including those involving estimates have been made in the process of appiying the above accounting policies that have had the most significant effect on the amounts recognised in the financial statements and that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year:

BELFAST LOUGH SAILABILITY NOTES TO THE ACCOUNTS (cont’d}

31 December 2025

® depreciation method and asset useful lives

The estimates and assumptions are reviewed on an ongoing basis considering the current and future market conditions.

2.
DONATIONSAND LEGACIES
Unrestricted Restricted Total Total
Funds Funds 2025 2024
£ £ £ £
Donations
Other Donations 1,814 - 1,814 16,361
Black Santa Donation - 2,000 2,000 1,500
Grants
Funding 3,922 45,960 49,882 21,690
5,736 47,960 53,696 39,551
3.
CHARITABLE ACTIVITIES
Unrestricted Restricted Total Total
Funds Funds 2025 2024
£ £ £ £
Membership 1,623 - 1,623 1,210
Group Visit 1,380 - 1,380 1,040
RTC Course Fees 520 . - 520 40
Events 1,863 - 1,863 1,031
T-Shirts - - - 45
5,386 - 5,386 3,366

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BELFAST LOUGH SAILABILITY NOTES TO THE ACCOUNTS (cont'd) 31 December 2025

4. INVESTMENT INCOME

Unrestricted Restricted Total Total
Funds Funds 2025 2024
£ £ £ £
Bank Interest Receivable 10 - 10 162
10 - 10 162

5. OTHER INCOME

Unrestricted Restricted Total Total
Funds Funds 2025 2024
£ £ £ £
Gain on disposal oftangible fixed 499 - 499 -
assets held for charity’sown use
499 - 499 .

6. STAFF COSTS

Staff costs for the current and preceding financial years were £Nil.

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BELFAST LOUGH SAILABILITY NOTES TO THE ACCOUNTS (cont’d} 31 December 2025

7. EXPENDITURE ON CHARITABLE ACTIVITIES

Unrestricted Restricted Total Total
Funds Funds 2025 2024
£ £ £ £
Charitable Activities 3,835 40 3,875 3,556
Support Costs 31,180 581 31,761 27,574
35,015 621 35,636 31,124
8.
ANALYSIS OF SUPPORTCOSTS
Unrestricted Restricted Total Total
Funds Funds 2025 2024
£ £ £ £
General Office 648 - 648 605
Training 749 - 749 16
CSC Costs 854 - 854 1,651
Insurance 6,419 - 6,419 6,160
Repairs&Maintenance 2,641 - 2,641 3,550
Accountancy fees 840 - 840 840
Fuel Costs 732 - 732 806
Travel & Subsistence - 581 581
Bank Charges 8 - 8 52
Subscriptions 750 - 750 195
Deprecation 17,539 - 17,539 13,699
31,180 581 31,761 27,574

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BELFAST LOUGH SAILABILITY NOTES TO THE ACCOUNTS (cont’d)

31 December 2025

9. NET EXPENDITURE

Net Expenditure is stated after charging/(crediting): Total Totai 2025 2024 £ £ Depreciation of tangible fixed assets 17,539 13,699 Gains on Disposal of tangible fixed assets (499) - 17,040 13,699

10. INDEPENDENT EXAMINATION FEES

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Total Total
2025 2024
£ £
Fees payable to independent examiner for:
Independent examination of the financial statements 840 840
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11. TRUSTEES REMUNERATION AND EXPENSES

The Trustees received no remuneration from the charity during the current or preceding financial years.

12. TAXATION

The charity is entitled to certain tax exemptions on income and profits from investments, and surpluses on any trading activities carried out in the furtherance of the charity's primary objectives, if these profits and surpluses are applied solely for charitable purposes. The charity is not registered for VAT and, accordingly, all their expenditure is inclusive of any VAT incurred.

BELFAST LOUGH SAILABILITY NOTES TO THE ACCOUNTS {cont’d} 31 December 2025

13. TANGIBLE FIXED ASSETS

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||||||| |---|---|---|---|---|---| |Fixtures| |&|Fittings| |Cost|£| |At|beginning|of the year|264,206| |Additions|52,093| |Disposals|(6,000)| |At end|of the|year|310,299| |Depreciation| |At|beginning|of the year|140,910| |Depreciation|17,539| |Disposals|(2,458)| |At|end|of the year|155,991| |Net book value|at|beginning of the year|123,297| |Net|book value|at|end|of the year|154,308|

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||||||| |---|---|---|---|---|---| |14.|CREDITORS: AMOUNTS|FALLING|DUE|WITHIN|ONE YEAR| |Total|Total| |2025|2024| |£|£| |Accruals|&|Deferred|income|840|840|

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BELFAST LOUGH SAILABILITY NOTES TO THE ACCOUNTS (cont’d)

31 December 2025

15. FUND BALANCES

Funds2025 Balance at Income Expenditu Surplus/ Transfer Balance
start re (Deficit) atend
£ £ £ £ £ £
Unrestricted Funds
Generalfund 69,475 11,132 (17,476) (6,344) (23,664) 39,467
Designated Funds 104,568 499 (17,539) (17,040) 66,780 154,308
Total 174,043 11,631 (35,015) (23,384) 43,116 193,775
Restricted Funds
DSNi Funding 80 500 - 500 - 580
Belfast Harbour—Sea Rover 5,000 - - - {5,000} -
Belfast Harbour—Scouts 4,957 - 4,957 - 4,957
Belfast CityCouncil - 3,690 (581) 3,109 - 3,109
BlackSanta 1,500 2,000 (40) 1,960 (1,500) 1,960
Nasuni UK Ltd - 1,000 - 1,000 (803) 197
Lough Ree Access Fund - 35,813 - 35,813 (35,813) -
Total 6,580 47,960 (621) 47,339 (43,116) 10,803
Funds2024 Balanceat Income Expendit Surplus/ Transfer Balance
start ure (Deficit) atend
£ £ £ £ £ £
Unrestricted Funds
Generalfund 69,025 16,555 (16,105) 450 - 69,475
Designated Funds 99,643 - (13,699) (13,699) 18,624 104,568
Total 168,668 16,555 (29,804) 13,249 18,624 174,043
Restricted Funds
DSNI Funding - 800 (720) 80 - 80
Halifax Grant - 3,624 - 3,624 (3,624) -
Belfast Harbour - 10,000 - 10,000 (5,000) 5,000
BlackSanta - 1,500 - 1,500 - 1,500
UisterGarden Villages - 10,000 - 10,000 (10,000) -
Carrick Literary - 600 (600) - - -
Total - 26,524 (1,320) 25,204 (18,624) 6,580

BELFAST LOUGH SAILABILITY NOTES TO THE ACCOUNTS (cont’d)

31 December 2025

Restricted funds include money raised to buy equipment, the receipt of this income is treated as restricted until the asset is purchased and the funds then transferred to designated once the asset is in use for general charitable purposes.

16. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted Restricted Funds Total
Funds 2025
£ £ £
Fixed Assets 154,308 - 154,308
Net Current Assets 39,467 10,803 50,270
193,775 10,803 204,578
Unrestricted Restricted Funds Total
Funds 2024
£ £ £
Fixed Assets 123,297 - 123.297
Net Current Assets 50,746 6,580 57,326
174,043 6,580 180,623

17. FINANCIAL COMMITMENT

No contracts had been placed for future capital expenditure at the balance sheet date

18. ETHICAL STANDARDS

in common with many other organisations of our size and nature, we use our independent examiner to prepare and assist in the preparation of the financial statements.

19. RELATED PARTIES

There were no related party transactions during the year (2024: £Nil).