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2025-12-31-accounts

Lissan House Trust

(A company limited by guarantee not having a share capital)

Report and Unaudited Financial Statements For the year ended 31 December 2025

Registration No: NI032848 Charity No: NIC102559

Lissan House Trust Accounts for the year ended 31 December 2025

Contents
Page(s)
Trustees and advisers 1
Trustees annual report 2 – 3
Statement of Trustees Responsibilities and Declaration on Unaudited Financial Statements 4
Independent Examiners report 5 – 6
Statement of Financial Activities
7
Balance Sheet
8
Notes to the accounts
9 -14

Lissan House Trust Accounts for the year ended 31 December 2025

Page 1

Trustees and advisers

Trustees

S Loughrin – Chair M I McCrystal R Stewart R T Colvin D J Lennox C J Deacon E D Hopper J Greer (Appointed on 6 October 2025)

S J Ringland (Appointed on 6 October 2025)

Registered office and Principal Address

Drumgrass Road Cookstown Co Tyrone BT80 9SW

Company Registration number

NI032848

Charity Number in Northern Ireland

NIC102559

HM Revenue & Customs Charity reference

XR 18252

Accountants

Corr & Corr Accountants 2[nd] Floor The Cornmill, Lineside, Coalisland Co Tyrone BT71 4LP

Bankers

Bank of Ireland 32 James Street Cookstown Co Tyrone BT80 8LT

Lissan House Trust Accounts for the year ended 31 December 2025

Page 2

Trustees’ Annual report

The trustees present their Trustees Annual report in accordance with Charities SORP (effective January 2015) and the unaudited financial statements of the Trust for the year ended 31 December 2025, also prepared in accordance with the aforementioned Statement of Recommend Practice and FRS 102.

The trustees, who are also directors of the Charity, at the date of this report and those who served during the financial year together with the dates of any changes are set out on Page 1.

Principal Activities

The Trust is established for charitable purposes only, specifically the preserving and developing of Lissan House and its Demesne for the benefit of the local community and beyond. Such purposes must be carried out exclusively in a manner that is beneficial to the public and is recognised by the law of Northern Ireland as being charitable.

It is anticipated that the redevelopment of Lissan House and the surrounding estate will result in a number of benefits including:

Company Limited by Guarantee

Each director undertakes to contribute to the assets of the Trust, in the event of the same being wound up while he is a member, or within one year after he ceases to be a member, for payment of debts and liabilities of the Trust contracted before he ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors among themselves, such amount as may be required not exceeding £1.00.

Trustees

The Trustees who were also directors of the Charity and who served during the year are listed on page 1.

Lissan House Trust Accounts for the year ended 31 December 2025

Page 3

Trustees’ report (cont’d)

Achievements and Performance

Financial Review

The company returned a Net Profit of £21,465 (2024 Loss: £294). At 31st December 2025 the total funds of the charity amounted to £331,062 (2024: £309,597), comprising restricted funds of £ NIL (2024: £ NIL), designated funds of £NIL (2024: £ NIL) and general unrestricted funds of £331,062 (2024: £309,597). Of the total funds reported above, £76,878 is made-up of cash at bank and in hand, with bank debt of £NIL.

The trustees endeavour to maintain sufficient funds to ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure Governance and Management

The charity is a company limited by guarantee and is governed by its Memorandum and Articles of Association. Lissan House Trust registered with the Charity Commission for Northern Ireland on 23[rd] December 2015.

Public Benefit

In setting our objectives and planning our activities for the year, the trustees have given careful consideration to the Charity Commission for Northern Ireland statutory guidance on public benefit to ensure that the activities have helped achieve the charity purposes and provide a benefit to the beneficiaries.

Special provisions relating to small companies

The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

By order of the board

Sharon Loughrin Trustee 10[th] March 2026

Robert Colvin Trustee

10[th] March 2026

Lissan House Trust Accounts for the year ended 31 December 2025

Page 4

Statement of Trustees Responsibilities and Declaration on Unaudited Financial Statements

General Responsibilities

The Trustees are responsible for preparing the financial statements in accordance with applicable law and regulations.

Company law requires the trustees as the directors to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charitable company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the net income or expenditure of the charity for the period. In preparing these financial statements, the trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the acts, and all Regulations to be construed as one with that Act. 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.

Trustees’ declaration on the Unaudited Financial Statements

In relation to the financial statements comprising the Statement of Financial Activities (incorporating an Income and Expenditure Account), the Balance Sheet, the Accounting Policies and the related notes:

The trustees approve these financial statements and confirm that they are responsible for them, including selecting the appropriate accounting policies, applying them consistently and making, on a reasonable and prudent basis the judgements underlying them. They have been prepared on the going concern basis that the charity will continue in operation.

The trustees confirm that they have made available to Corr & Corr, Chartered Accountants, all the charity’s accounting records and provided all the information, books and documents necessary for the compilation of the financial statements. The trustees confirm that to the best of their knowledge and belief, the accounting records reflect all the transactions of the charity for the year ended 31 December 2025.

On behalf of the board

Sharon Loughrin Robert Colvin Trustee Trustee 10[th] March 2026 10[th] March 2026

Lissan House Trust

Page 5

Accounts for the year ended 31 December 2025

Independent Examiners Report to the Board of Trustees of Lissan House

I have examined the financial statements of the Trust for the year ended 31 December 2025, which comprise the Statement of Financial Activities (incorporating an income and Expenditure Account), the Balance Sheet, the Accounting Policies and the related notes. These financial statements have been prepared under the accounting policies set out therein. The financial statements were not required to be audited in accordance with Part 16 of the Companies Act 2006.

This report is made solely to the charitable company trustees, 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 statements that we have been engaged to compile, report to the charitable company's Board of Trustees that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable Company and the charitable company's Board of Trustees, as a body, for our work, or for this report.

Respective responsibilities of trustees and examiner

As explained more fully in the Statement of Trustees' Responsibilities, the trustees, who are also the directors of the charitable company, are responsible for the preparation of the Trustees' Annual report and the financial statements in accordance with applicable law and Accounting Standards (UK and Ireland). The charitable company trustees consider an audit is not required for this year under Chapter 3 of Part 16 of the Companies Act 2006 but that an independent examination is required under that Act.

It is my responsibility to:

(iii) information contained in the financial statements is materially inconsistent with the Trustees' Annual report for the year.

Basis of independent examiner's report

My examination work was undertaken in accordance with the general directions given by the regulatory authorities. Such an examination includes a review of the accounting records kept by the charitable Company 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 yourselves as the charitable company trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the financial statements.

Page 6

Lissan House Trust Accounts for the year ended 31 December 2025

Independent examiner's statement

In connection with my examination work, no matter has come to my attention:

Corr & Corr

Chartered Accountants

10[th] March 2026

Lissan House Trust Accounts for the year ended 31 December 2025

Page 7

Statement of Financial Activities

Income statement
Incoming Resources
Incoming Resources
Activities for Generating funds
Investment Income
Total Incoming Resources
Resources Expended
Net Incoming Resources
available for Charitable
Application
Resources Expended on
Charitable Activities
Cost of Charitable Activities
Total Resources Expended
Gross Transfer between funds
Surplus/(Deficit) for the year
Net movement in funds for the
year
Reconciliation of funds
Balance brought forward
Balance carried forward
Unrestricted
Funds
Restricted
Funds
Total
Total
2025
2025
2025
2024
£
£
£
£
69,585
-
69,585
38,713
-
-
-
-
69,585
-
69,585
38,713
69,585
-
69,585
38,713
48,120
-
48,120
39,007
48,120
-
48,120
39,007
-
-
-
-
21,465
-
21,465
(294)
21,465
-
21,465
(294)
309,597
-
309,597
309,891
331,062
-
331,062
309,597

Lissan House Trust Accounts for the year ended 31 December 2025

Page 8

Balance sheet

Notes 2025 2024
£ £
Fixed assets
Tangible fixed assets 7 252,879 245,939
Current assets
Debtors 4,108 2,192
Cash and cash equivalents 76,877 65,173
Creditors: amounts falling due within one year 8 (2,802) (3,707)
Net current assets/(liabilities) 78,183 63,658
Total assets less current liabilities 331,062 309,597
Creditors: amounts falling due after more than one year 9 (NIL) (NIL)
Net assets 331,062 309,597
Funds
Restricted Trust Funds - -
Unrestricted designated Funds - -
General Fund (unrestricted) 13 **331,062 ** 309,597

These financial statements have been prepared in accordance with the special provisions relating to small Companies within Part 15 of the Companies Act 2006.

For the financial year, ended 31 December 2025 the charitable company was entitled to exemption from audit under Section 477 of the Companies Act 2006; and no notice has been deposited under Section 476.

The trustees acknowledge their responsibility for ensuring that the charitable company keeps accounting records which Comply with Section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

Approved by the board and authorised for issue on the 10[th] March 2026 and signed on its behalf by:

Sharon Loughrix RobertColvin
Sharon Loughrin Robert Colvin
Trustee Trustee
10th March 2026 10th March 2026

The notes on pages 9 to 14 form part of these accounts.

Page 9

Lissan House Trust Accounts for the year ended 31 December 2025

Notes to the accounts

1. Principal accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with the Companies Act 2006 and Part 8 of the Charities Act (Northern Ireland) 2008. They also comply with the 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 (FRS102) (effective 1 January 2015) - (Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015.

General information and basis of preparation

Lissan House Trust is a company limited by guarantee incorporated in Northern Ireland under the United Kingdom Companies Act. The address of the registered office is given on page 1. The principal activity of the company is the preserving and developing of Lissan House and its Demesne for the benefit of the local community and beyond.

The accounts have been prepared in accordance with applicable accounting standards. A summary of the more important policies, which have been applied consistently, is set out below. The accounts are prepared in sterling which is the functional currency of the company.

Cash flow statement

The charitable company has availed of the exemption in FRS 102 from the requirement to produce a cash flow statement because it is classified as a small charitable company.

Incoming Resources

Voluntary income or capital is included in the Statement of Financial Activities when the charitable company is legally entitled to it, its financial value can be quantified with reasonable certainty and there is reasonable certainty of its ultimate receipt. Entitlement to legacies is considered established when the charitable company has been notified of a distribution to be made by the executors. Income received in advance of due performance under a contract is accounted for as deferred income until earned. 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 funds similarly include fundraising activities. 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 to individual activities by objective. Governance costs are those associated with constitutional and statutory requirements.

Lissan House Trust Accounts for the year ended 31 December 2025

Page 10

Notes to the accounts (cont’d)

1. Principal accounting policies (cont’d)

Tangible fixed assets

Fixed assets are stated at their purchase cost, together with any incidental costs of acquisition, less accumulated depreciation.

Depreciation is calculated so as to write off the costs of tangible fixed assets, less their estimated residual values, over the expected useful economic lives of the assets concerned.

Impairment of non-financial assets

The company assesses at each reporting date whether an asset may be impaired. If any such indication exists the company estimates the recoverable amount of the asset. If it is not possible to estimate the recoverable amount of the individual asset, the company estimates, the recoverable amount of the cash generating unit to which the asset belongs. The recoverable amount of an asset or cash generating unit is the higher of its fair value less costs to sell and its value in use. If the recoverable amount is less than its carrying amount, the carrying amount of the asset is impaired and it is reduced to its recoverable amount through an impairment in the profit and loss account.

An impairment loss recognised for all assets is reversed in a subsequent period if and only if the reasons for the impairment loss have ceased to apply.

Government grants

Grants that relate to specific capital expenditure are treated as deferred income which is then credited to the profit and loss account over the related asset’s useful life. Revenue grants are credited to the profit and loss account in the same year as the related expenditure is incurred.

Income

Income represents donations, grants and other income received by the Trust during the year.

Bank interest receivable

Bank interest is recognised in the revenue account on a receipts basis.

Repairs and renewals

These are charged to revenue in the year in which the expenditure is incurred.

Short term employee benefits

Short term employee benefits are recognised as an expense in the period in which they are incurred.

Lissan House Trust Accounts for the year ended 31 December 2025

Page 11

Notes to the accounts (cont’d)

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, which are described in note 1, the directors are required to make judgements, estimates and assumptions about the carrying amounts 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 these 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Critical judgements in applying the company’s accounting policies

During the current and preceding financial years the directors believe they have not made any critical judgements in the process of applying the company’s accounting policies that have a significant effect on the amounts recognised in the accounts.

Key sources of estimation uncertainty

During the current and preceding financial years the directors believe there are not any key sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

2. Deferred Tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable income and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3. Going concern

The company made a profit of £21,465 during the year ended 31 December 2025, and at that date, the company’s assets exceeded its liabilities by £331,062.

The trustees, after making enquiries, have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in the preparation of the accounts.

Lissan House Trust Accounts for the year ended 31 December 2025

Page 12

Notes to the accounts (cont’d)

5. Employees and remuneration
Total Staff costs comprise:
4. Interest payable and similar charges
Other interest payable
2024
£
NIL
NIL
NIL
2024
£
5
2025
£
NIL
2025
£
Wages and salaries NIL
NIL
Pension costs
NIL

The Trustees did not receive any remuneration during the year. The average number of employees during the year was NIL - (2024: NIL).

6. Taxation

Lissan House Trust is registered as a charity for taxation purposes under reference NIC102559. As a charitable company, Lissan House Trust is exempt from tax on income and gains falling within Section 5050 of the Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have therefore arisen for the charitable company for the year ended 31 December 2025.

7. Tangible fixed assets

Cost
As at 1 January 2025
Additions
As at 31 December 2025
Grants received: Freehold property
As at 1 January 2025 and at 31 December 2025
Cost after capital grant
Depreciation
As at 1 January 2025 and at 31 December 2025
Net book value
As at December 2025
As at December 2024
Fixtures and
fittings
£
34,494
34,494
-
34.494
-
34.494
34,494
Freehold
land and
buildings
£
211,445
6,940
218,385
-
218,385
-
218,385
211,445
Total
£
245,939
6,940
252,879
-
252,879
-
252,879
245,939

Lissan House Trust Accounts for the year ended 31 December 2025

Page 13

Notes to the accounts (cont’d)

8. Creditors: Amounts falling due within one year

2025
£
Other taxes and social security
402
Trade Creditors
NIL
Accruals
2,400
2,802
Creditors: Amounts falling due after more than one year
2025
£
Other Creditors
NIL
Bank Loans
NIL
NIL
2024
£
242
1,065
2,400
3,707
2024
£
NIL
NIL
NIL

9. Creditors: Amounts falling due after more than one year

10. Analysis of Net Assets by Fund

The Total Net Assets in the current and prior period related to the general fund (unrestricted).

11. Analysis of Movements on Funds

Restricted Income
Restricted
Unrestricted Income
Unrestricted
Total Funds
Bal
01 Jan
2025
Incoming
Resource
Resource
Expended
Inter-
fund
Transfers
Bal
31 Dec
2025
£
£
£
£
£
-
-
-
-
-
309,597
69,585
48,120
-
331,062
309,597
69,585
48,120
-
331,062

Lissan House Trust Accounts for the year ended 31 December 2025

Page 14

Notes to the accounts (cont’d)

12. Status

The charitable company is limited by guarantee not having a share capital.

Each member undertakes to contribute to the assets of the Trust, in the event of the same being wound up while they are a member, or within one year after they cease to be a member, for payment of debts and liabilities of the Trust contracted before he ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors among themselves such amount as may be required not exceeding £1.00.

13. Funds

The retained earnings reserve represents cumulative surplus or deficit on the revenue account.

14. Capital commitments

At the balance sheet date, the company had entered into contracts for future capital expenditure amounting to:

o:
2025 2024
£ £
Contracted for but not provided in the accounts - -

15. Contingent liabilities

There is a contingent liability to repay certain grants received under the terms of letters of offer from various agencies, if the company fails to comply with certain terms and conditions. In the opinion of the directors, the terms of the letters of offer have been complied with and no loss is expected.

The company has no other contingent liabilities at the current or prior year ends.

16. Post Balance Sheet Events

There have been no significant events affecting the Charity since the year-end.

17. Related Party Transactions

There were no related party transactions in the current or prior period.

Lissan House Trust

(A company limited by guarantee not having a share capital)

Supplementary Information Relating to the Financial Statements For the year ended 31 December 2025

Lissan House Trust Supplementary Information for the year ended 31 December 2025

Operating Statement

Operating statement

Notes
Income
Donations
Entrance and tour fees
Land income
Grant income
Venue hire
Event income
Group Tours
Rent (Walled Garden)
Log & book sales
Expenses
Insurance
Light and heat
Maintenance and upkeep
Printing and stationery
Advertising
Event costs
Telephone
Legal and professional fees
Historical VAT Difference Write Off
Accountancy
Bank charges and interest
4
Training
General Expenses
Hire of Equipment
Subscriptions
Computer Costs
Interest Payable
Commissions Payable
Surplus / (Deficit) on ordinary activities before
taxation
Taxation
6
Surplus / (Deficit) for year
2025
£
27,255
500
15,760
7,500
5,006
12,020
1,510
-
34
69,585
9,862
2,015
28,129
40
342
705
1,871
-
-
3,519
275
125
17
140
208
84
-
788
48,120
21,465
-
21,465
2024
£
5,573
150
14,814
-
5,175
9,256
3,146
174
425
38,713
11,627
1,099
7,396
170
1,157
1,917
1,709
8,645
1,173
3,300
244
-
190
126
111
138
5
-
39,007
(294)
-
(294)
REF. NUMBER
MUIXV-O38NP-RMMHN-HW2X6
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REF. NUMBER
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DOCUMENT COMPLETED BY ALL PARTIES ON
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