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





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|||`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`|<br>`99,212`|`99,212`|`97,240`|`97,240`|
|`Totalfundsattheendoftheyear`||`96,757`|`96,757`|`99,212`|`99,212`|





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





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|||`continued`|`continued`|
|---|---|---|---|
|`TheLaganNavigationTrust`||||
|`{Acompanylimitedbyquarantee,nothavinga sharecapital)`||||
|`NOTESTOTHEFINANCIALSTATEMENTS`||||
|`forthefinancialyearended31March2024`||||
|`thecoreobjectivesofthegrantagreementareachieved.Wherethecharityismeetingtheco`||`reobjectivesofa `||
|`grantagreement,`<br>`itrecognisestherelatedexpenditure,totheextentthatitisreimbursable`||`bythedonor,`|`as`|
|`income.`||||
|`mlimebasedconditions:wherebythecharityiscontractuallyentitled`<br>`tofundingonthe`|`ci`|`onditionthat`|`it`<br>`is`|
|`utilisedina particularperiod.Inthesecasesthecharityrecognisestheincometotheextent`||`tisutilisedwithin`||
|`theperiodspecifiedintheagreement.`||||
|`Intheabsence`<br>`ofsuchconditions,assuming`<br>`thatreceipt`<br>`isprobableand`<br>`theamount`||`can`<br>`bereliably`||
|`measured,grantincomeisrecognisedoncethecharityisnotifiedofentitlement.`||||
|`Grantsreceivedtowardscapitalexpenditurearecredited`<br>`totheStatement`<br>`ofFinancia`||`Activitieswhen`||
|`receivedorreceivable,whicheverisearlier.`||||
|`Expenditure`||||
|`Expenditureisanalysedbetweencostsofcharitableactivitiesandraisingfunds.Thecostso `||`eachactivity`|`are`|
|`separatelyaccumulatedanddisclosed,andanalysedaccording`<br>`totheirmajorcomponent`||<br>`s.Expenditure`|<br>`is`|
|`recognisedwhena legalorconstructiveobligationexistsasa resultofa pastevent,a trar`||<br>`sferofeconamic`||
|`benefitsisrequiredinsettlementandtheamountoftheobligationcanbereliablymeasure`||`d.Supportcosts`||
|`arethosefunctionsthatassisttheworkofthecharitybutcannotbeattributedtooneactivit`||`.Suchcosts`|`are`|
|`allocatedtoactivitiesinproportiontostafftimespentorothersuitablemeasureforeachactiv`||`ty.`||
|`Tangiblefixedassetsanddepreciation`||||
|`Tangiblefixedassets`<br>`arestated`<br>`atcostor`<br>`atvaluation,`<br>`lessaccumulateddepreciatior`||`.Thecharge`|<br>`to-`|
|`depreciationiscalculatedtowriteofftheoriginalcastorvaluationoftangiblefixedassets,le`||`sstheirestimated`||
|`residualvalue,overtheirexpectedusefullivesasfollows:`||||
|`Plantandmachinery`<br>`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`||<br>`npreparedona`||
|`basis otherthanthatofthegoingconcernbasis.Thisbasisincludes,whereapplicable,writi`||`gthecompany’s`||
|`assetsdowntonetrealisablevalue.Noprovisionhasbeenmadeforthefuturecosts`|`a`|`fterminating`|`the`|
|`businessunlesssuchcostswerecommittedatthereportingdate.`||||
||||`1`|





## 

|`4.`|`CRITICALACCOUNTINGJUDGEMENT`|`CRITICALACCOUNTINGJUDGEMENT`|`ANDESTIMATES`|`ANDESTIMATES`|||||
|---|---|---|---|---|---|---|---|---|
||`Thepreparation`|`ofthefinancialstatementsrequiresmanagement`|||<br>`tomakejudgements,`||`estimatesand`||
||`assumptionsthat`|`affecttheamountsreported.These`||`estimatesandjudgementsare`||`continually`||`reviewedand`|
||`arebasedonexperienceandotherfactors,includingexpectation`||||<br>`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`<br>`F`||`2023`<br>`£`|
||`NetIncometsstatedaftercharging/(crediting):`||||
||`Depreciationoftangibleassets`|`416`||`520`|
||`EMPLOYEESANDREMUNERATION`||||
||`Numberofemployees`||||
||`Theaveragenumberofpersonsemployed{includingexecutivetrustees}duringthefinan`<br>`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`<br>`F`||`2023`<br>`£`|
||`Tradedebtors`|`98,033`||`99,072`|
|`13.`|`CREDITORS`|`2024`||`2023`|
||`Amountsfailingduewithinoneyear`|`E`||`£`|
||`Accrualsanddeferredincome`|`2,750`||`4,750`|
|||||`43`|





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|`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`|





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