Charity Registration Number: NIC103048
Lisnaskea Fairs and Markets
(Charitable Trust for the benefit of the inhabitants
of the town of Lisnaskea)
Annual Report and Financial Statements
For the year ended 31 December 2023
CcMinaghKelly

Lisnaskea Fairs and Markets
Contents
Page
General Informatlon
Trustees. Report
Independent Examinerfs Report
Statement of Financial Artivitles
Statement of Financial Position
Notes to the Financial Statements
9-13
CavanaghKelly'

Lisnaskea Fairs and Markets
Notes to the Financial Statements - continued
For the year ended 31 December 2023
Accounting Pollcles - contlnued
Charitable activities
This comprises all the resources applied by the charity in undertaking its work to meet
its charitable objectives. Charitable activities will include the costs of governance
arrangements which relate to the general running of the charity.
E. Fund Accountlng
The charity only has one type of fund for which it is responsible at the year-end:
Unrestrlcted Funds
Funds which are expendable at the discretion of the trustees In
furtherance of the objectives of the charity. In addition, funds may be held in order to
finance capital investment and working capital.
F. Tanglble Flxed Assets and Depreciation
All fixed assets are initially recorded at cost.
Depreciation is provided at rates calculated to write off the cost less residual value of each
asset over its expected useful life, as follows:
Flxtures, Fittings and Equipment
Land & Buildings
25% Reducing Balance
3Wo Reducing Balance
G. Taxation
As a charity, the trust is not liable to Income Tax; HM Revenue & Customs charity
reference N100551.
CavanaghKelly'

Lisnaskea Fairs and Markets
Notes to the Financial Statements - continued
For the year ended 31 December 2023
2. Income and endowments
Charitable actlvltles
2023
2022
Rental income ￿CeiVable
Insurance compensation
Investment income
Bank and building society interest
Profit on disposal of fixed assets
29,755
31,535
4,269
6,350
2,644
All Income the years ended 31 December 2023 and 2022 was from unrestricted funds.
3. Expenditure
Charitable Activities
2023
2022
Donations
Property repairs and maintenance
Depreciation on property
Depreclatlon on equipment
42,800
8,864
1,329
203
32,950
9,564
1,554
271
53,196
44,339
Management and Administratlon
Of the charity
Secretary's fees and expenses
Rates
Insurance
Light. heat and power
Accountancy
General expenses
2,200
4,166
4,066
949
1,560
2,450
139
3,807
790
1,560
146
Total Expenditure
Expenditure on charitable activlties in the years 2023 and 2022 was all from unrestrlcted
funds.
CavanaghKelly'

Lisnaskea Fairs and Markets
Notes to the Financial Statements - continued
For the year ended 31 December 2023
4. Tangible Fixed Assets
Land and
buildings
Fixtures.
fittings and
equipment
Total
Cost
At l January 2023
Additions
182,145
6,155
188,300
Disposals
At 31 December 2023
(21.561)
160,584
(21,561)
166,739
6,155
Depreclatlon
At l January 2023
131,888
5,341
137,229
Charge for the year
1,329
203
1,532
Disposals
At 31 December 2023
(15,612)
117,605
(15,612)
123,149
5,544
Net Book Values
At 31 December 2023
42,979
611
43,590
At 31 December 2022
50,257
814
51,071
5. Investments
2023
2022
NFU Mutual investment at cost
loo 000
loo 000
Valuation at l January
Investment made during year
Gains / ( losses) on revaluation
99,103
109,716
Valuatlon at 31 December
106,348
99,103
6. Debtors
2023
2022
Trade debtors
Prepaid expense5
7,180
7,955
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Lisnaskea Fairs and Markets
Notes to the Financial Statements - continued
For the year ended 31 December 2023
7. Credltors: amounts falling due wlthln one year
2023
2022
Accruals and deferred income
CavanaghKelly'

Lisnaskea Fairs and Markets
Statement of Financial Activities
(including an Income & Expenditure Account)
For the year ended 31 December 2023
Vnrestrirted
Funds
Restricted
Funds
Total
Funds
Total
Funds
2023
2023
2023
2022
Income and endowments
from: (Note 2)
Charitable artivities
Investment Income
Profit on disposal of fixed assets
Insurance compensation
Total
29,755
6.350
31,039
29,755
6,350
31,039
31,535
2,644
4,269
38,448
67.144
67,144
Expendlture on: (Note 3)
Charitable activities
Management and administration
Total
53,196
12,941
66,137
53,196
12,941
66,137
44,339
8.892
53,231
Net income / (expenditure)
1,007
1,007
(14.783)
Gains / (losses) on the
revaluation of investments
(Note S)
7,245
7.245
(10.613)
Net movement In funds
8,252
8,252
{25,396)
Reconciliation of funds."
Transfer between funds
Balance brought forward
528 120
528 120
553 516
Balance carried forward
536 372
536 372
528 120
The notes on pages 9 to 13 forni part of these financial statements.
All of the activities of the charity are classed as continuing.
There is no difference between the net Incoming resources for the year stated above and
their historical cost equivalents.
CavanaghKelly'

Lisnaskea Fairs and Markets
Statement of Financial Position (Balance Sheet)
As at 31 December 2023
Note
2023
2022
Fixed Assets
Tangible Assets
Investments
43,590
106,348
51,071
99,103
149 938
150 174
Current Assets
Debtors and prepayments
Cash at bank and in hand
9,075
378 439
387,514
9,850
369 176
379,026
Creditors: amounts lalllng
Due within one year
(1,080)
(1,080)
Net Current assets
386,434
377,946
Net Assets
536 372
528 120
REPRESENTED BY:
Unrestrlcted Funds
Total Funds
536 372
536 372
528 120
528 120
The notes on pages 9 to 13 fomi part of these financial statements.
These financial statements were approved and authorised for issue by the Trustees and
signed on
heir behalf by
Mr R Farrell
Chair for 2023
Mr G Reihill
Treasurer
Date
Charlty Registration Number NIC103048
CavanaghKelly'

Lisnaskea Fairs and Markets
Notes to the Financial Statements
For the year ended 31 December 2023
l. General Informatlon
Llsnaskea Fairs Markets is a charitable trust formed in Northern Ireland on 17th January
1924.
The address of the trust office Is as shown on page 2.
The charitable trust constitute5 a public benefit entity as defined by FRS 102.
2. Accountlng Pollcies
The followlng accounting policies have been applied conslstently In dealing with items
which are considered material in relation to the trust's financial statements.
A. Basis of accountlng
The financial statements of Llsnaskea Fairs and Markets, which is a public benefit entity
under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102)
'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 (FRS 102) {effective l January 2019),, 'The
Financial Reporting Standard applicable in the UK and Republlc of Ireland, and UK
Generally Accepted Practice.
The financial statements are prepared on a golng concern basis under the historical cost
convention unless otherwise stated in the relevant accounting policy. Historical cost 15
generally based on the fair value of the consideration given in exchange for assets. The
following accounting policies have been applied consistently in dealing with items which
are considered material in relation to the charity's financial statements.
Cash Flow Statement
The financial statements do not include a Cash Flow Statement because the trust. as a
small reporting entity, is exempt from the requirement to prepare such a statement under
SORP.
C. Income from charitable artivities
Income from charitable activities includes income received under contract or where
entitlement to grant funding is subject to specific performance conditions. It is recognised
as earned as the related services or goods are provided. Grant income included in this
category provides funding to support projects and 15 recogni5ed where there is
entitlement, certainty of receipt and the amount can be measured with Sufficient
reliability.
D. Expenditure
Expenditure Is recognised when a liability is incurred. Contrartual arrangements and
performance related grants are recognised as goods and services are supplied. Where
costs cannot be directly attributed to a particular headlng, they have been allocated to
activities on a basis consistent with use of resources. Staff costs and overhead expenses
are allocated to activities on the basis of staff time spent on those activities.
CavanaghKelly"

Lisnaskea Fairs and Markets
General Information
Trustees
Mr H Crawford
Mr R Farrell
Mr K Kelly
Mr P Leeman
Mr J McBrien
Mr E Mccaffrey
Mr J McElwalne
Mr G Reihill (Treasurer)
Secretary
Mrs A Curran
Trust Offlce
23 Droles Road
Lisbellaw
Co. Fermanagh
BT94 5JG
Charity Registratlon Number
NIC103048
Accepted as a Charity by HM
Revenue & Customs under Reference
N100551
Independent Examlner
Ryan Falls FCA
CavanaghKelly
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP
Sollcltors
JC Brady & Son
10 Belmore Street
Enniskillen
Co. Fermanagh
BT74 6AA
Bankers
Ulster Bank Limited
186 Main Street
Llsnaskea
Co. Fermanagh
BT92 OJF
CavanaghKelly'

Lisnaskea Fairs and Markets
Independent Examiner's report to the Trustees of Lisnaskea Fairs
and Markets for the year ended 31 December 2023
report on the accounts of the Trust for the year ended 31 December 2023, which are set
out on pages 7 to 13.
Respective responslbllltles of charity trustees and examiner
As the charity's trustees you are responsible for the preparation of the account5 In
accordance with the Charities Act (Northem Ireland) 2008.
It is my responsibility to:
examine the accounts under section 65 of the Charities Act
follow the procedures laid down in the general Direttions given by the
Commission under sertion 6519){b) of the Charities Art
State whether particular matters have come to my attention.
Basls of independent examlner's report
I have examined your charity accounts as required under sertion 65 of the Charities Art
and my examination was carried out in accordance with the general Directions given by
the Charity Commission for Northern Ireland under section 65{9)(bl of the Charities Act.
My examination included a review of the accounting records kept by the charity and a
comparison of the accounts presented with those records. It also included consideration of
any unusual items or disclosures in the accounts and seeking explanations from you as
charity trustees concerning any such matters.
My role Is to state whether any material matters have come to my attentlon giving me
cause to believe:
l. That accounting records were not kept in accordan￿ with section 63 of the Charities
2. That the accounts do not accord with those accounting ￿e0rds.
3. That the accounts do not comply with the accounting requirements of the Charities Act;
and
4. That there is further infomiation needed for a proper understanding of the accounts to
be reached.
Independent examiner's statement
I have completed my examination and have no concerns in respect of the matters (l) to
(4) listed above and, in connection with following the Directions of the Charity
Commission for Northern Ireland, I have found no matters that require drawing to your
ttention.
17.12.2024
Date
Ryan Falls, FCA
CavanaghKelly
Chartered Accountants Ireland
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP
CavanaghKe1￿.

Lisnaskea Fairs and Markets
Trustees. report for the year ended 31 December 2023
The trustees present their report and the financial statements for the year ended 31
December 2023.
Reference and Administration Detalls
The reference and administration details of the charlty are as shown on page 2.
structure, Governance and Management
Organisational Strurture
The trust, formed on 17tl January 1924, Is a charitable trust and a registered charity for
taxatlon purposes.
The trust is govemed by the Trustees. None of the Trustees have any beneficlal Interest In
the trust. Subject to the provisions contained in the Trust Deed, in the case of the death
or resignation of a trustee, the trustees have the power to elect a new trustee. The
Secretary was responsible for the supervislon of the day-to-day operations of the trust
throughout the period of the accounts.
Trustees
The trustees who served during the year are as follows:
Mr H Crawford
Mr R Farrell
Mr K Kelly
Mr P Leeman
Mr J McBrien
Mr E Mccaffrey
Mr J McElwaine
Mr G Reihill
Risk Management
The Trustees have reviewed the key risks facing the charity and have established
procedures to manage those risks. Investment risks have led the trustees to develop a
strategic plan which alk)ws for the diversification of investment of the trust's cash
resources.
Activitles, Aims & Objertives
The public benefits are-
the increased efficiency and effectiveness of community and voluntary sector
organisations. resulting in enhanced outcomes and service delivery and,
consequently, an improved quality of life for those who benefit from their work;
enhanced activity, engagement and participation in social activities by residents of
the area of benefit, leading to an improvement in their well- being and quality of
life and greater social cohesion.
increased access to public amenities and the enjoyment derived from the displays
of flowers and shrubs, which all helps to improve people's quality of life and
well-being; and
the preservatlon of the unique character of the Llsnaskea area, leading to an
enhanced appreciatlon by residents and visitors of its history, heritage and culture
and the enjoyment arising from its pleasing visual appearance.
CavanaghKelly'

Lisnaskea Fairs and Markets
Trustees. report for the year ended 31 December 2023 - continued
The direct beneficiaries are the residents of, and visitors to, the area of benefit and local
community and voluntary sector organisations. These benefits can be evidenced through
the findings of community surveys, feedback from the beneficiaries and evaSuations of the
work and impact of community and voluntary sector organisations and feedback from
those they have assisted.
No private benefit or harm arises from this purpose.
The trustees of The Lisnaskea Fairs and Markets endeèvour through the income generated
from the lands, rnarkets, hereditaments and premises they hold in trust to:
provide donations for community projects and groups when required"
pay for the planting and maintenance of flowers and shrubs within the town's
central yard and in other areas within the town;
maintaln and preserve some of the most historical buildings In the town of
Lisnaskea and provide them for use by the community as both business premises
and places to gather for social and community events; and
to approach those who may hold property or lands which have become derelict and
purchase them so that they may be put to better use.
Achievements and Performance
The Trustees are confident that the charity is meeting its objectives. During the year
ended 31 December 2023, as well as maintaining the trust property in good condition, the
trust contrlbuted £42,800 to charities and worthy causes (2022: £32.950).
Flnancial Review
The trust is a charitable organisation. The results for the year are set out in detail on
Pages 7 to 13. The trust returned net increase in funds for the year of £8,252 (2022:
dec￿ase £25,396}.
At 31 December 2023. the total funds of the charity amounted to £536,372 (2022:
£528, 120) comprising unrestrirted funds of £536.372 and restricted £nil. Principal sources
of funding and how this has supported the key objectives of the charity are disclosed in
the notes to the financial ststements.
Reserves pollcy
During 2021 the trustees adopted a formal reserves policy to enable them to be better
able to plan and agree on the level of reserves required and how best those reserves may
be used to fulfil the charity's purposes. The trustees consider that the charity's reserves
are unrestricted and are generally intended for future unexpected need or to pursue an
opportunity in line with the charity's purposes.
Plans for future periods
The Trustees continue to look for opportunities Whe￿ input from the trust will benefit the
inhabitants of the town of Lisnaskea.
CavanaghKelly'

Lisnaskea Fairs and Markets
Trustees. report for the year ended 31 December 2023 - continued
This report was approved by the Trustees and signed on its behalf by:
Mr R Farrell, Chalr for 2023
Date
Trust Office
Lisnaskea Fairs and Markets
23 Droles Road
Llsnaskea
Co. Fermanagh
BT94 51G
Charlty Registratlon Number NIC103048
CavanaghKelly'