2024-03-31-annual-return - Lagan Navigation Trust Ltd

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`ReferenceandAdministrativeInformation`
`Trustees’AnnualReport`
`StatementofTrustees’Responsibilities`
`IndependentExaminer'sReport`
`StatementofFinancialActivities`
`BalanceSheet`
`NotestotheFinancialStatements`	`10-15`

		`Unrestricted`	`Total`	`Unrestricted`	`Total`
		`Funds`	`Funds`	`Funds`	`Funds`
		`2024`	`2024`	`2023`	`2023`
	`Notes`	`£`	`£`	`£`	`£`
`income`
`Charitableactivities`
`aGrantsfromgovernmentsandotherco-funders`	`5.1`	`“`	`-`	`60,000`	`60,000`
`Otherincome`	`5.2`	`(416)`	`{416}`	`-`	`-`
`Totalincome`		`(416)`	`{416}`	`60,000`	`60,000`
`Expenditure`
`Otherexpenditure`	`6.1`	`2,039`	`2,039`	`58,028`	`58,028`
`Netincome/(expenditure)`		`(2,455)`	`(2,455)`	`1,972`	`1,972`
`Transfersbetweenfunds`		`-`	`“`	`-`	`-`
`Netmovementinfundsforthefinancialyear`		`(2,455)`	`(2,455)`	`1,972`	`1,972`
`Reconciliationoffunds:`
`Totalfundsbeginningoftheyear`	`15`	`99,212`	`99,212`	`97,240`	`97,240`
`Totalfundsattheendoftheyear`		`96,757`	`96,757`	`99,212`	`99,212`

		`2024`
	`Notes`	`E`
	`FixedAssets`
	`Tangibleassets` `11`	`1,657`
	`CurrentAssets` `Debtors` `12` `Cashatbankandinhand`	`98,033` `(183)`		`99,072` `(183)`
		`97,850`		`98,889`
	`Creditors:Amountsfallingduewithinoneyear` `13`	`(2,750)`		`(1,750)`
	`NetCurrentAssets`	`95,100`		`97,139`
	`TotalAssetslessCurrentLiabilities`	`96,757`		`99,212`
	`Funds`
	`Generalfund(unrestricted)`	`96,757`		`99,212`
	`Totalfunds` `15`	`96,757`		`99,212`
	`Thesefinancialstatementshavebeenpreparedinaccordancewiththespecialprovisionsrelatingto`			`smailcompanies`
	`withinPart15oftheCompaniesAct2006.`
	`Forthefinancialyearended31March2024thecharitywasentitledtoexemptionfromaudit`		`under`	`section477ofthe`
	`CompaniesAct2006; andnonoticehasbeendepositedundersection476.`
	`Thetrusteesconfirmthatthemembershavenotrequiredthecompanytoobtainanauditofitsfinance`			`ialstatementsfor`
	`thefinancialyearinquestioninaccordancewithsection476oftheCompaniesAct2006.`
	`Thetrusteesacknowledgetheirresponsibilitiesforensuringthatthecharitykeepsaccountingreco`			`rdswhichcomply`
	`withsection386 andforpreparingfinancialstatementswhichgivea true`	`andfairviewofthestat`		`eofaffairsofthe`
	`charityasattheendofthefinancialyearandofitsprofitandlossforthefinancialyear`		`inacq`	`erdancewiththe`
	`requirementsofsections394 and 395 andwhichotherwisecomplywiththe`	`requirementsof`	`theCor`	`npaniesAct2006`
	`relatingtofinancialstatements,sofarasapplicabletothecharity.`
	`Thefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicable`		`tocom`	`paniessubjectto`
	`thesmallcompanies’regimeandinaccordancewithFRS102"TheFinancialReportingStandardap`			`plicabieintheUK`
	`andRepublicofIreland”,applyingSection1AofthatStandard.`
	`ApprovedbytheBoardofTrusteesandauthorisedforissueon` `2` `behalfby`	`Waywb` `.`	`ands`	`ignedonits`
`_`	`ihn` `Todwn`
	`Trustee`

		`continued`	`continued`
`TheLaganNavigationTrust`
`{Acompanylimitedbyquarantee,nothavinga sharecapital)`
`NOTESTOTHEFINANCIALSTATEMENTS`
`forthefinancialyearended31March2024`
`thecoreobjectivesofthegrantagreementareachieved.Wherethecharityismeetingtheco`		`reobjectivesofa`
`grantagreement,` `itrecognisestherelatedexpenditure,totheextentthatitisreimbursable`		`bythedonor,`	`as`
`income.`
`mlimebasedconditions:wherebythecharityiscontractuallyentitled` `tofundingonthe`	`ci`	`onditionthat`	`it` `is`
`utilisedina particularperiod.Inthesecasesthecharityrecognisestheincometotheextent`		`tisutilisedwithin`
`theperiodspecifiedintheagreement.`
`Intheabsence` `ofsuchconditions,assuming` `thatreceipt` `isprobableand` `theamount`		`can` `bereliably`
`measured,grantincomeisrecognisedoncethecharityisnotifiedofentitlement.`
`Grantsreceivedtowardscapitalexpenditurearecredited` `totheStatement` `ofFinancia`		`Activitieswhen`
`receivedorreceivable,whicheverisearlier.`
`Expenditure`
`Expenditureisanalysedbetweencostsofcharitableactivitiesandraisingfunds.Thecostso`		`eachactivity`	`are`
`separatelyaccumulatedanddisclosed,andanalysedaccording` `totheirmajorcomponent`		`s.Expenditure`	`is`
`recognisedwhena legalorconstructiveobligationexistsasa resultofa pastevent,a trar`		`sferofeconamic`
`benefitsisrequiredinsettlementandtheamountoftheobligationcanbereliablymeasure`		`d.Supportcosts`
`arethosefunctionsthatassisttheworkofthecharitybutcannotbeattributedtooneactivit`		`.Suchcosts`	`are`
`allocatedtoactivitiesinproportiontostafftimespentorothersuitablemeasureforeachactiv`		`ty.`
`Tangiblefixedassetsanddepreciation`
`Tangiblefixedassets` `arestated` `atcostor` `atvaluation,` `lessaccumulateddepreciatior`		`.Thecharge`	`to-`
`depreciationiscalculatedtowriteofftheoriginalcastorvaluationoftangiblefixedassets,le`		`sstheirestimated`
`residualvalue,overtheirexpectedusefullivesasfollows:`
`Plantandmachinery` `20%ReducingBalance`
`Debtors`
`Debtorsarerecognisedatthesettlementamountdueafteranydiscountoffered.Prepaymentsarevalued`			`at`
`theamountprepaidnetofanytradediscountsdue.Incomerecognisedbythecharity`		`tomgovernment`
`agenciesandotherco-funders,butnotyetreceivedatfinancialyearend,isincludedindebta`		`rs.`
`Cashatbankandinhand`
`Cashatbankandinhandcomprisescashondepositatbanksrequiringlessthanthree`		`monthsnotice`	`of`
`withdrawal,`
`Taxationanddeferredtaxation`
`Nocurrentordeferredtaxationarisesas thecharityhasbeengrantedcharitableexempt`		`on.irrecoverable`
`valuedaddedtaxisexpensedasincurred.`
`Deferredtaxisrecognisedinrespectofalltimingdifferencesthathaveoriginatedbutno`		`treversedat`	`the`
`balancesheetdatewheretransactionsoreventshaveoccurredatthatdatethatwillresult`	`i`	`nanobligationto`
`paymoretaxinthe future,ora righttopaylesstaxinthefuture.Timingdifferencesaretemporarydifferences`
`betweenthecharity'staxableincomeanditsresultsasstatedinthefinancialstatements.`
`Deferredtaxismeasuredonanundiscountedbasisatthe taxratesthatareanticipatedtoap`		`plyintheperiods`
`inwhichthetimingdifferencesareexpectedtoreverse,basedon taxratesandlawsthathe`		`vebeenenacted`
`orsubstantivelyenactedbythebalancesheetdate.`
`GOINGCONCERN`
`Allcompaniesarerequiredtoadoptthegoingconcernbasisofaccounting,exceptincirct`		`imstanceswhere`
`thedirectorsdetermineatthedateofapprovalofthefinancialstatementssitherthatthey`	`i`	`ntendtoliquidate`
`theentityortoceasetrading.`
`TheTrustwillceasetradingata datepostyearend andthefinancialstatementshavepes`		`npreparedona`
`basis otherthanthatofthegoingconcernbasis.Thisbasisincludes,whereapplicable,writi`		`gthecompany’s`
`assetsdowntonetrealisablevalue.Noprovisionhasbeenmadeforthefuturecosts`	`a`	`fterminating`	`the`
`businessunlesssuchcostswerecommittedatthereportingdate.`
			`1`

`4.`	`CRITICALACCOUNTINGJUDGEMENT`	`CRITICALACCOUNTINGJUDGEMENT`	`ANDESTIMATES`	`ANDESTIMATES`
	`Thepreparation`	`ofthefinancialstatementsrequiresmanagement`			`tomakejudgements,`		`estimatesand`
	`assumptionsthat`	`affecttheamountsreported.These`		`estimatesandjudgementsare`		`continually`		`reviewedand`
	`arebasedonexperienceandotherfactors,includingexpectation`				`offutureeventsthat`		`arebelievedto`
	`reasonableunder`	`circumstances.`
	`INCOME`
`5.1`	`CHARITABLEACTIVITIES`			`Unrestricted`	`Restricted`	`2024`		`2023`
				`Funds`	`Funds`
				`£`	`£`	`E`		`£`
	`Grantsfromgovernmentsandotherco-funders:`
	`Incomefromcharitableactivities`			`-`	`-`	`-`		`60,600`
`5.2`	`OTHERINCOME`			`Unrestricted`	`Restricted`	`2024`		`2023`
				`Funds`	`Funds`
				`£`	`E`	`£`		`£`
	`Otherincome`			`(416)`	`-`	`(416}`		`-`
	`EXPENDITURE`
	`CHARITABLEACTIVITIES`		`Direct`	`Other`	`Support`	`2024`		`2023`
			`Costs`	`Costs`	`Costs`
			`E`	`£`	`£`	`£`		`£`
`6.2`	`OTHEREXPENDITURE`		`Direct`	`Other`	`Support`	`2024`		`2023`
			`Costs`	`Costs`	`Casts`
			`£`	`£`	`£`	`E`		`E`
	`Otherexpenditure`		`-`	`-`	`2,039`	`2,039`		`58,028`
`6.3`	`SUPPORTCOSTS`				`Other`	`2024`		`2023`
				`Expenditure`
					`£`	`£`		`£`
	`Accountancy`				`1,000`	`1,600`		`4,500`
	`GeneralOffice`				`-`		`-`	`§,254`
	`GovernanceCosts`				`-`		`-`	`1,377`
	`PremisesCosts`				`1,039`	`4,039`		`1,814`
	`StaffCosts`				`.`		`“`	`44,475`
					`2,039`	`2,039`		`54,417`
	`ANALYSISOFSUPPORTCOSTS`
						`2024`		`2023`
						`£`		`£`
	`Accountancy`					`1,000`		`4,500`
	`GeneralOffice`					`-`		`5,251`
	`GovernanceCosis`					`-`		`4,377`
	`Depreciation`					`416`		`-`
	`PremisesCosts`					`1,639`		`4,814`
	`StaffCosts`					`-`		`44,475`
						`2,455`		`§4,417`

			`continued`	`continued`
`The`	`LaganNavigationTrust`
`{Acompanylimitedbyguarantee,nothavinga sharecapital}`
`NOTESTOTHEFINANCIALSTATEMENTS`
`forthe`	`financialyearended31March2024`
`8.`	`NETINCOME`	`2024` `F`		`2023` `£`
	`NetIncometsstatedaftercharging/(crediting):`
	`Depreciationoftangibleassets`	`416`		`520`
	`EMPLOYEESANDREMUNERATION`
	`Numberofemployees`
	`Theaveragenumberofpersonsemployed{includingexecutivetrustees}duringthefinan` `cial`		`year`	`wasas`
	`follows:`
		`2024`		`2023`
		`Number`	`Number`
	`AdminStaff`	`“`		`1`
	`Thestaffcostscomprise:`	`2024`		`2023`
		`£`		`£`
	`Wagesandsalaries`	`-`		`44,475`
`10.`	`Therearenoemployeeswhoreceivedemployeebenefitsofmorethan£60,000forthereporting`		`period.`
`11.`	`TANGIBLEFIXEDASSETS`
		`Plantand`		`Total`
		`machinery`
		`£`		`£`
	`Cost`
	`At31March2024`	`6,342`		`6,342`
	`Depreciation`
	`At1 April2023`	`4,269`		`4,269`
	`Chargeforthefinancialyear`	`416`		`416`
	`At31March2024`	`4,685`		`4,685`
	`Netbookvalue`
	`At31March2024`	`4,657`		`1,657`
	`At31March2023`	`2,078`		`2,073`
`12.`	`DEBTORS`	`2024` `F`		`2023` `£`
	`Tradedebtors`	`98,033`		`99,072`
`13.`	`CREDITORS`	`2024`		`2023`
	`Amountsfailingduewithinoneyear`	`E`		`£`
	`Accrualsanddeferredincome`	`2,750`		`4,750`
				`43`

`14.`	`RESERVES`
				`2024`	`2023`
				`£`	`£`
	`Atthebeginningoftheyear`			`99,212`	`97,240`
	`(Deficit)/Surplusforthefinancialyear`			`(2,455)`	`1,972`
	`Attheendoftheyear`			`96,757`	`99,212`
`15.`	`FUNDS`
`15.1.`	`RECONCILIATIONOFMOVEMENTINFUNDS`			`Unrestricted`	`Total`
				`Funds`	`Funds`
				`£`	`£`
	`At7 April2022`			`97,240`	`97,240`
	`Movementduringthefinancialyear`			`1,972`	`1,972`
	`At31March2023`			`99,212`	`99,212`
	`Movementduringthefinancialyear`			`(2,455)`	`(2,455)`
	`At31March2024`			`96,757`	`96,757`
`45.2`	`ANALYSISOFMOVEMENTSONFUNDS`	`Balance`	`Expenditure`	`Transfers`	`Balance`
		`1April`		`between`	`31March`
		`2023`		`funds`	`2024`
		`£`	`£`	`£`	`£`
	`Unrestrictedfunds`
	`UnrestrictedGeneral`	`99,212`	`2,465`	`-`	`96,757`
	`Totalfunds`	`99,212`	`2,455`	`“`	`96,757`
`15.3.`	`ANALYSISOFNETASSETSBYFUND`
		`Fixed`	`Current`	`Current`	`Total`
		`assets`	`assets`	`liabilities`
		`-charityuse`
		`£`	`£`	`£`	`£`
	`Unrestrictedgeneralfunds`	`1,657`	`97,850`	`(2,750)`	`96,757`
		`1,657`	`97,850`	`(2,750)`	`96,757`