Laughter Land Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 March 2024 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024. Reference and administrative detsils Registered charity name Laughter Land Charity registratlon number NIC104520 Company reglstration number N1054445 Principal office and registered The Unit office Black Park Road Toomebridge Co Antrim BT413SL Tho trustees Ms Shania Marie McNally Ms Amy Diamond Ms Niamh Neeson Ms Maria Mccloskey Ms Amy-Beth Gervin Ms Roisin Higgins Mrs Aisling Murphy Mrs Orla Diamond Mrs Victoria Young Mrs Emma Nugent Miss Aisling Diamor)d Mrs Jessica McGeeh8n Mrs Fiona Mccann (Appointed 22 January 2025) (Appointed 22 January 2025) {Appointed 22 January 20251 (Resigned 24 October 2023) (Resigned 24 October 2023) (Resigned 22 January 2025} (Resigned 22 January 2025) (Resigned 24 October 2023) (Resigned 1 April 2023) (Resigned 24 October 2023) {Resigned 24 October 2023} (Resigned 22 January 2025) Independent examiner S O'Neill & Company 14 Main Street Toomebridge Co. Antrim Northern Ireland BT41 3TQ Laughter Land Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnuedj Year ended 31 March 2024 structure, governance and management Organisational Structure Laughter Land was established under a Memorandum of Association which established the objects and powers of the Company and is governed under its Articles of Association. It is a charitable company limited by guarantee and was incorporated on 24 March 2005. Laughter Land's charity registration under The Charity Commission for Nl was approved on 11 March 2016. The charitable company is governed by the Board of Directors, and directors are required to attend at each AGM. There is a minimum of five directors on every Board. One third of the directors shall retire from office at the AGM. The directors to retire in every year shall be those who have been longest in office since their last election, but between persons who became Directors on the same day as those to retire shall be determined by lot. A retiring Director shall be eligible for re-election. Directors may meet together for dispatch of business, adjourn and otherwise regulate meetings as they think fit and questions arising at any meeting shall be decided by a majority of votes. In the case of an equality of votes, the Chairperson shall have a second or casting vote. The quorum necessary for the transaction of business of the directors may be fixed by directors and unless so fixed at any other number shall be five directors. New directors are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making process, key internal controls and procedures regarding funding applications, child registers, cash collection, review of wages and staffing, cheque signatories and recent performance of the Trust. They are free to discuss any issue with other directors. There is no remuneration paid to any of the Directors by the Trust in relation to this role. RISK MANAGEMENT The Directors have reviewed the key risks facing the charity and have established procedures to manage those risks. Mrs Geraldine Mccoy is appointed to superwise the day to day operations of the Company. Laughter Land Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2024 Objectives and activities The principal activity of the Company is to enhance the development and education of children aged 3-11 in Toomebridge and its environs without distinction of gender, disability, ethnic identity, nationality, religion or political affiliation by: providing the necessary facilities for the daily care, recreation and education of children aged from 3-11., advancing the education and training of persons involved in the provision of such care., and encouraging the study of the needs of such children and their families and promoting public interest in and recognition of the needs of such children and their families in the area of benefit. The focus of our work The main focus of our work continued to be the provision of pre-school to children in the local community. How our activities deliver public benefit is to enable parents of pre-school children to access affordable, safe and secure childcare which provides high quality care and education and contributes to the development and well-being of children in the local community., Those who use and benefited from our services 2024 26 14 2023 20 14 Pre-school funded Pre-school non-funded The charitable company is registered and inspected by the Department of Education for Northern Ireland and are required to follow and implement the Curriculum Guidance for Pre-school Education. Laughter Land Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 March 2024 Achievements and performance As can be seen from the numbers above, the number of children attending Laughter Land has increased during the year. At the same time, management have maintained their DENI funding allocation of 26 children and DENI have made a provisional allocation of 26 funded places for 2024125. Staff have completed all relevant training to help the Company to continue to support the children throughout the year. Recent changes in staff has seen the departure of Ms Naomi McFall who has provided many years of support and help to children in the community, all staff and the committee wish Mr McFall all the best in her future endeavours. We have been delighted to welcome Emma Nugent into the Laughter Land team as an invaluable help and support to our pre-school children. We are very pleased to welcome new volunteer member Ms Clara Martin which helps support the pre-school in its day to day operations and will be a great benefit for staff to support of cover as needed. Financlal review The surplus for the year was £3,062 (surplus 2023.. £600) which has increased (2023.. increased) the total fund balance carried foNard to £17,708 (2023. £14,646). The Statement of Financial Activities for the year is detailed on page 8. Reserves policy The management committee has examined the charity's requirements for reserves in light of the main risks of the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be be￿een 2 and 3 months of expenditure. Expenditure for 2023-24 was £68,731 (2022-23 £106,130) therefore the target is £11,455 to £17,182 (2022-23 £17,688 to £26,532) in general funds. At the year end the unrestricted funds not committed or invested in tangible fixed assets are not within the target amount range. The management committee are aware of this and have received a number of grants in the 2025 financial year from different granting bodies. Laughter Land Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 March 2024 Plans for future periods The Charity planned to continue the activities outlined above in the forthcoming years, subject to satisfactory funding arrangements. The pre-school is in need for maintenance and repair and to this end the board of directors and staff are working hard to promote fundraising and seek additional funding to support, repairs to flooring, increase outdoor covered play area as well as continue to develop and maintain our garden areas. We hope to continue to track in a positive financial direction in order that the pre-school can continue to thrive. Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustees, annual report was approved on 14 April 2025 and signed on behalf of the board of trustees by.. Mrs Roisin Higgins (Chairperson) Director