Charlty reglstratlon number NIC105265
THE LYNAS CHARITABLE TRUST FUND
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THEYEAR ENDED 31 OCTOBER 2023

THE LYNAS CHARITABLE TRUST FUND
CONTENTS
Page
Gharlly Informallon
Trustees. report
Independent examiner's report
statement of financlal acllvitles
Balance sheet
Notes lo the financlal slatemenls
7-11

THE LYNAS CHARITABLE TRUST FUND
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mrs H E Lynas
Ms R Cregan
Ms E Slazeng8r
Charity number
NIC105265
Prlnclpal address
Loughanhlll Industri81 Eslate
Galeslde Road
Col8raine
Co Londonderry
BT52 2NR
Indepgnd¢nt examlner
Moore {N.I.I LLP
30-32 Lodge Road
Coleralne
BT52 1NB
Bankers
Bank of Ireland
2 The Dlamond
Coleralne
Co Londonderry
BT52 IDE

THE LYNAS CHARITABLE TRUST FUND
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 OCTOBER 2023
The Truslees presents their report and financial statements for the year ended 31 October 2023.
The flnancial statements have been prepared In accordance wilh (he accounllng policies sel out In note 110 the
flnancial slal8menls and comply wllh the Charlly's Trust Deed, the Charities Act {Norlhern Ireland) 2008 and
'Accounllng and Reporllng by Charllies: Statement of Recomrnended Practice applicablg lo charllles preparing
Ihelr accounts In accordance wllh the FlnanGial Reporting Standard appllc8ble In the UK and Republic of Ireland
(FRS 1021" (as amended for accounting periods commenclng from l January 20191.
Objectlves and actlvltl85
During the lif8 of thé selllor upon trust lo apply the Income of the trust fund for such charllabl8 purposes as the
selllor shall Irom Ilme lo lime sn wrillng dlrect. In the event of the death of the selllor or of the total failure of the
Irusls, the Trustees shall have absolute discrellon as lo the charltable purposes for whlch the Trust fund Income
Is applled.
Publ1¢ beneflts
The Advancement of Rellglon the dlrecl benefits which flow fiom Ihls purpose Include raisin9 awaroness and
understanding of Christlanily and that (he personal b8neflls assoclaled wlth the Chrl8llan falth provlde an
inherent benefit to soclely. Through the acc&ptance of and Ilvlng a Ilfestyle In lin9 wllh the teachings of th&
Chrisllan fallh, many have been freed of bad habits such as 8lcoholl8m, crSmlnal aclivllies and famlly Ilves
improved. These bonefils are demonslraled Ihrough asking for regular feedback and evaluallon of the charllles
supported using a varlely of methods verbal conversations and anecdotal obseNallons. Poople are invlled to
embrace the Christian faith and any response is entirely volunlary. We try to ensure no improper pressure is
applled. However as we do not have full corslrol over the grant reciplenls there Is always thls risk, though il Is rare
and the benefits ouiweigh the harm.
Most large grants are paid direct lo recognised Charitles and organisalions and as such there should be no
private benefit. Payments to smaller local charities are much lower In value and would be considered Sncidenlal.
The maln benefiolaries gre p8opI8 world-wide and channelled through UK Charities. The rellef of those In need by
reason of youth, age, ill-h9alth, disabilily, financial hardship or other dlsadvanlage. The dirgGI benefits whlch flow
from th15 purpose Includ8 reduclng social excluslon on aGCOUnt of poverty, improved health outcomes, reduced
levels of stress and financial support through varlous programmeslcharllias and organlsalions.
Benefit also accrues to members of the public by reason of the Increased ¢apaclty of the once needy person.
These beneflls ar8 demonslraled through regular fe8dback and evaluallon of th8 charlties supported as well as
in th8 anecdotal observallons (where we see a chang8 In peopla's Ilves). No polenllal causes of harm have
been Idenllfled.
Achlovements and porformance
Flnan¢lal revlew
Th8 Charity returned nel outgoing resources for the year of £60.354 (2022 nel oulgoSng resources of £80,535).
At 31st October 2023 the total lunds of the charlly amounted to £767,070 {2022 £827,424), Gomprlsed solely of
general unreslrlcled funds.
The Trustee3 endeavour to malntaln sufflclent funds lo ensure that the Charlty wlll be able lo continue wllh ils
aclivities and, in Ihg gv8nl of a drop in incom8, give consideration to ways In whlch addillonal funds may be
raised.
The Charlly wlll conllnue lo ralse awareness and understandlng of Chrlslianlly

THE LYNAS CHARITABLE TRUST FUND
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
structure, governance and management
The Charily is governed by ils Trust Deed dated 8th November 1978.
The Truslees who served during the year and up lo the dale of slgnalure of the financlal statements were:
Mrs H E Lynas
Ms R Cregan
Ms E Slazenger
The Trustees, repoTt was approved by the Board.
Mrs H E Lyna
Trustee
Dated: 31 July 2024

THE LYNAS CHARITABLE TRUST FUND
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE LYNAS CHARITABLE TRUST FUND
I report on the account8 of th8 Charity for the year ended 31 October 2023, whlch are set out on pages 510 11.
Respectlvè r8sponslbllltles of Trustees and examlner
As the Charity's Iruslees you are responsible for Ihe preparatlon of the accounts In ac¢ordance wilh the Charities
Act {Northern Ireland} 2008.
11 Is my responsibilily to:
(l) examine the accounts under section 65 of the CharllSes Act
(111 follow Ihe procedures laid down In the general directions glven by the Charlty Commlsslon for Norlhern
Ireland under secllon 65(gllb) of the Charilles Act
(111) slate whelher partlcular mallers have come lo my allenllon.
Basls of Independent examlnar's report
We have examin8d your Charlly accounts as requlred under secllon 65 of tho Ch8rllies Act 8nd our examlnation
was carrled out in accordance with the general Oirectlons given by the Charity Commisslon for Northern Ir81and
under section 6519)(b} of the Charities Act. The exarnlnalion Includ8d a review of the accounting records kept by
thg Charity and a comparison of the accounts presented with Ihose records. It also included conslderalion of any
unusual items or disclosures in the accounts, and seeking explanallons from you as charity Iruslees Concerning
any such matters.
Our role is to Stale whether any materlal matters have com8 to our attention giving us cause to b8lleve'.
1. That accounllng records were not kepl in accordance with Sectlon 63 of the Charllles Aot
2. That the accounts do not accord with thos8 accounting records
3. That the accounts do not comply wllh the accounllng raquiremenls of the Chari119s Act
4, Thal there is further Information n6eded for a proper understanding of the accounts lo be reached,
Independent oxamlner's statement
We have completed our examlnallon and have no conGerns In respecl of th8 matters {1) to141 Ilsted above and.
In connection with followlng the Dlre¢llons of the Charlly Commlsslon for Northern Ireland, we have found no
matters that requlre drawing lo your atlentlon.
Hilary Farrell FCA
for and on bghalf of Moore (N.1) LLP
30-32 Lodge Road
Coleraine
BT52 1NB
Dated.. 31 July 2024

THE LYNAS CHARITABLE TRUST FUND
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITUREACCOUNT
FOR THE YEAR ENDED 31 OCTOBER 2023
Unrgstrlcted Unrostrlcted
funds
funds
2023
2022
Notes
Income and endowmgnts from:
Donations and legacie8
other Income
458,797
14,268
201,452
7,164
Total Income
473,065
208,616
endlturo on:
Charitable activities
533,419
289,151
Net expendlture for the yearl
Net movement In funds
{60,3541
180,535}
Fund balances al 1 November 2022
827,424
907,959
Fund balances at 31 O¢tober 2023
767,070
827,424
The slalement of financial aclivltles includes all galns and losses r6cognised In the y8ar.
All income and expendllufft derlve from conllnulng aclivi118S.

THE LYNAS CHARITABLE TRUST FUND
BALANCE SHEET
ASAT31 OCTOBER 2023
2023
2022
Notos
Current asset5
Debtors
Cash at bank and in hand
10
116,899
652,571
118,323
712,701
769,470
831.024
Credltor$: amounts falllng due wlthln
one year
11
(2,400)
13,600>
Net current assets
767,070
827,424
The funds of the Charlty
UnreslrlGled funds
767,070
827,424
767,070
827,424
The financlal slalement8 wgre approved by the Trusle8s on 31 July 2024
Mrs H E Lynas
Trustee

THE LYNAS CHARITABLE TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
Accountlng poll¢les
Charity Informatlon
The Lynas Charitable Trust Fund is an unincorporated charlty r8gist8r8d in Northern Ireland.
1.1 Accountlng ¢onventlon
The flnanclal slalemenls have been propared In accordance wilh the Charlty's Trust Deed, the Charilles Act
2006 and "Accounllng and Reportlng by Charflies., Statement of Reoommended Practic& appllcable to
charities preparing their accounts in a¢cordan¢e with the Financlal Reportlng Standard applicable in the UK
and Republic of Ireland (FRS 102)" las amended for accounting periods cornmenclng from 1 January 2019).
The Charily is a Public Benefit Entity as defined by FRS 102,
Th8 Charity has laken advantage of Ihe provisions in the SORP for charllies applylng FRS 102 Update
Bulletin 1 not to prepare 8 Slal8ment of Cash Flows.
The financial statements are prepargd In sleillng, whlch Is Ihe functional currency of the Charlty. Monetary
amounts in th859 flnanclal slalements are rounded to th8 nearast £.
Tho princ5pal accounllng pollcl8s adopted are set out below.
1.2 Golng concern
Al the time of approving the financlal slalemenls, the Trustees has a reasonab18 expeclallon that the Charity
has adequate resources lo conlinue In operational exlslence for the foreseeable future. Thus the Trustees
continue lo adopt Ihe going concern basis of accounllng in preparlng the financlal statements.
1.3 Charltable funds
Unreslricled funds are available for use at Iha dlscretlon of the Trustees in furlherance of their charitable
oblectlves.
1.4 Income
Income is recognlsed when the Charlly 15 legally enlllled lo It after any performance condlllons have been
mel, the amounls can be measur8d rellably, and It Is probable that Income will bo received.
C85h donallons are recognlsed on recelpt. Other donallons are recognlsed once the Chariiy has been notlfied
of the donation, unless performance condillons require deferral of the amount. Income tax racoverable In
relallon to don8tlons rgcelved under Glft Ald or deeds of covenanl Is recognised al Ihe tlme of the donallon.
L8gacles are recognlsed on recelpt or otherwlse if the Charity has been nollfled of an impendlng dlslrlbution,
Ihg amount Is known, and receipt Is expec18d. If the amount Is not known, the legacy 1$ treated as a
conlingenl asset,
1.5 Resources expended
Expendllure Is recognlsed once there Is a legal or constructlve obllgallon lo make a payment lo a third party,11
Is probable that a selllemenl will be required and the amount of the obligallon can be measured reliably.
1.6 Cash and cash equlvalgnts
Cash and cash equivalents include Gash in hand, deposits held at call wllh banks, other shorl-lerm liquld
investments with original malurllles of thr88 months or less, and bank overdrafts. Bank ov8rdrafts are shown
wllhin borrowings in curient liabilili6s.

THE LYNAS CHARITABLE TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
A¢counting pollcles
Icontlnued)
1.7 Flnancial Instruments
The Charlty has elected lo apply the provislon5 of Section 11 'Basl¢ Financlal Inslrumenls, and Secllon 12
'Other FinanGlal Inslrumenls1s5ues' of FRS 10210 all of Its flnancial Instruments.
Flnanclal instruments are r8cognl8ed In the Charlly's balance sheet when the Charity become8 Party lo the
conlraclual provlslons of the Instrument.
Flnancl81 assets and Ilabllities are offset, wllh the nel amounts presented in the financlal slatgmenls, when
there is a legally enforceable rlght lo sel off the recognised amounts and there Is an Inlentlon lo settle on a net
basls or to realise the asset and settl8 the liability slmullaneously.
Baslc flnanclal assgts
Baslc flnancial assels, whlch Include debtors and cash and bank balances, are inllially measured al
transaction prlce Includlng transaction costs and are subsequently carrled al amortised cost vsing tho effective
interest method unless the arrangement conslllu185 a financlng Iransacllon, where th8 ITan$aclion Is
measurgd al the present value of the future receipts dlscountod at a market rale of Interesl. Flnanclal assets
classifled as receivable wilhin one y6ar are not amorlls8d.
Baslc flnan¢lal Ilabllltles
Baslc financlal liabllllles, including creditors and bank loans are Inlllally recognlsed al transaction prSce unless
the arrangem8nt con8lllutes a financlng Iransaclion, where the debt Instrument Is measured al the present
value of the future payments discounted at a markgl rate of interest. Financlal Ilabllltles Classlfled as payable
wllhln one year are not amortised.
Debt instruments are subsequently oarried al amortlsed cost, using the effective interest rato method.
Trade CT8ditors are obligatlons to pay for goods or sorvicgs Ihat have been a¢quir8d In Ihg ordlnary ¢ours8 of
operations from suppliers. Amounls payable aT8 classified as curr8nl liabllities if payment is due wllhin one
year or less. If not. they are presenled as non-current Ilabililies. Trade Gredilors are recognlsed initially al
Iransacllon prlce and subsequently measured al amortised c05t using the effecllve Interest method,
Derecognltlon of flnanGlal Ilabllltles
Flnancial Ilabilllies are derecognised wh8n the Charlty's ¢onlractual obligations expire or are dlscharged or
cancelled.
Crltlcal a¢¢ountlng estlmates and judgements
In the appllcalion of the Charlly's accounting pollcles, the TruslBes are requlred to make ludg6manls,
esllmales and assumptlons about the carrylng amount of assets and liabililles Ihal ar8 not readily apparent
from other Soufces. The eslimates and associated assumpllons are based on historical experience and other
factors that are considered lo be relevant. Aclual resulls may dlffer from these eslimales.
The eslimales and underlylng assumpllons are reviewed on an ongolng basls. Revisions lo accounling
8slSmales are racognised in the period in whlch the estimate Is revised where the revision affects only Ihal
perlod, or in the period of the rgvlslon and futur8 periods where the revlsion affects both Gurrenl and future
perlods.

THE LYNAS CHARITABLE TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
Donations and lega¢ie$
Unrestrlcted UnrestYl¢ted
funds
funds
2023
2022
Donallons and glfts
458,797
201,452
Other Income
2023
2022
Bank Interest re¢eSved
Olh8r interest r8ceived
1,085
13,183
362
6.802
14,268
7.164
Charlt8ble actlvltles
2023
2022
Sundry
Bank fees
Donations
1,200
236
531,983
1.200
218
287,733
533,419
289,151
Trustees
The Trustees lor any persons conn8Cted wllh them} dld not receive any remunerallon or ben8fils from the
Charity durlng the year.
Employees
Th6 average mor)thly number of employees durlng the year wa8:
2023
Numbèr
2022
Number
Total
There were no employees whose annual remunerallon was rnore than £60,000.

THE LYNAS CHARITABLE TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
Taxatlon
The charity Is ex8mpt from 18xallon on Its aclivilles because all Its Incom6 Is applled for charllable purpos85.
Flnan¢lal Instruments
2023
2022
Carryln9 amount of flnanclal assets
Debt Instruments measured at amortisad cost
116,899
118,323
Carrylng amount of flnanclal Ilabilltles
Measured al amortlsed cost
2,400
3,600
10 Debtor5
2023
2022
Amounts falllng due wlthln one year:
Other debtors
116,899
118,323
11 Crgdltors; amounts falllng due wlthln one year
2023
2022
Accruals and deferred Income
2,400
3,600
12 Unrestrlctèd funds
The unreslrlcted funds of the charlty comprls8 Ihe unexpended balances of donatlons and grants whlch are
not sublecl lo speclftc condllions by donors and grantors as lo how they may be used. Thes8 Include
d88ignaled funds which have been sol aside out of unreslricled lunds by the trustees for speGific purposes,
At1
Novomber
2022
Incomlng
resour¢o$
Resources At 31 October
expendèd
2023
General funds
827,424
473,065
1533,4191
767,070
Prevlou5 year:
At1
November
2021
Incomlng
resourGes
Resources At 31 October
expended
2022
General funds
907,959
208,616
(289,1511
827,424
10

THE LYNAS CHARITABLE TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
13 Relatèd party transactions
Included withln income are amounts lolalllng £458,797 12022: £201,452) representing donalions made by
Lynas Foodservice, a company In whlch one of Ihe Trustee's husband Is a dlreclor.
Durlllg the year, The Lynas Charltable Trust Fund were repaid £514,60812022.' £NILI and gave an addllional
loan of £500,000 lo Lynas Foodservlce lowards Ihelr loan balance. Other Inleresl received tolalled £13,183
(2022.. £6.802). The balance oulstandlng al the year end was £116,899 (2022,. £118,324) and is Included
wlthln other debtors.
11