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2023-03-31-accounts

Charity registration number 105492

Company registration number NI632897 (Northern Ireland)

LCC COMMUNITY TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

LCC COMMUNITY TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs M Agnew Mr B C Agnew MBE Mr S J Agnew Mr R Browne Mr R E Jennings Ms S S O Smyth Secretary Mrs M Agnew Charity number 105492 Company number NI632897 Principal address 1-3 Graham Gardens Lisburn Antrim BT28 1XE Registered office 1-3 Graham Gardens Lisburn Antrim BT28 1XE Auditor GMcG Lisburn Century House 40 Crescent Business Park Lisburn BT28 2GN Bankers Santander Bridle Road Bootle Merseyside L30 4GB

LCC COMMUNITY TRUST

CONTENTS

Page
Trustees' report 1 - 4
Independent auditor's report 5 - 10
Statement of financial activities 11
Statement of financial position 12
Statement of cash flows 13
Notes to the financial statements 14 - 25

LCC COMMUNITY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2023

The trustees present their annual report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "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 1 January 2019).

Objectives and activities

The mission and purpose of our organisation is to add value to people of all ages and backgrounds, through meeting peoples' needs in a practical and holistic way and by creating opportunities for encouragement, mentoring, personal growth and skills development.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance LISBURN FOODBANK

Lisburn Foodbank continues to run 4 mornings per week offering crisis intervention for those in food poverty and has successfully partnered with 89 agencies who refer clients in for food support.

We have seen 47 churches, 8 schools, 4 local supermarkets and countless local businesses and private donations come in to support the work. Throughout the pandemic we were able to continue support going for the Foodbank through our online giving platform which now hosts a variety of both monthly donations and one off gifts. Since February 2023 we have seen a rising uptake in demand due o the cost of living crisis.

LISBURN CITY CHURCH

Church has been going well with attendance up by 20% since 2021-22. We have an array of members from all backgrounds, nationalities and demographics.

Events have been extremely well attended, with people of all ages and demographics finding a place to belong, ask questions, volunteer, share their gifts and talents with others and find Pastoral care if needed.

LCC COMMUNITY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

KICKSTART SOCIAL SUPERMARKET

Kickstart SSM has been officially open to the public since January 2018 and has now supported a total of 416 households in its first 5 years (79 in 22/23).

The project has grown massively coming out of the pandemic and is now funded through a cocktail of funders including; DfC, LCCC, NIHE & some smaller funders who contribute towards food costs. We partner with Carnbrooke meats, Evan's Farmshop and Fareshare to purchase additional food stocks to give variety to clients. The project then partners in with our More Than Food initiative to offer workshops to clients matched with them in their personal development plan. This project supports those in long term food poverty to move into a place of stability. Coming out of lockdown we had a change of staff who are now all in post and settled. This allowed us an opportunity to look at how we operate and ensure our service remains user led and we are meeting the needs of our members.

We still have a weekly membership of 60 households with the average member attending the weekly shop for 6 months. We are consistently assessing need and are flexible in our approach to support to ensure we are not signing people off who have to return for help within a few weeks. This has led to us offering the option of 'magic bags' through the To Good To Go app for members signing off or for those who only need a little support but not the full wraparound.

CHILDREN & YOUTH

Holiday Meals Club runs each summer creating an opportunity for kids to make friends, play games and receive a hot meal. We were able to recruit a new family worker through our Engage All Age funding with TNL. She started in time for the Summer Scheme in 2022 which had a total of 86 kids attend 6 sessions of summer scheme. We had 20 volunteers supporting this project.

In September 2022, we were able to start a mixture of additional projects for families including Tiny Tots, Afterschools & Youngins which allowed us to focus on each of those ages groups and then we had our monthly family night where we bring all ages together.

MORE THAN FOOD

More Than Food oversees our workshop delivery including Craft, Budgeting, Cookery, ESOL and Tiny Tots. MtF also oversees our volunteer opportunities which has seen volunteers help in a range of ways from one off collection days, regular Foodbank support, workshop delivery and hospitality. During 2022/23, we were able to get a lot of our groups back up and running. ESOL & craft were ran every Thursday and our Wellbeing projects were up and running again.

We also had a new and diverse range of volunteers supporting the various projects as many previous volunteers had to shield and many more new volunteers were on furlough. In 2022/23 we had 135 volunteers who gave 6,212 hours of work to support the organization.

WELLBEING @ LCCCT

Our Wellbeing work has continued to grow with 7 WRAP courses being run up to March 2023 which included our first outreach at a partner charity. On top of this we have developed a suite of wellbeing work which includes our 'Taste & Be' workshops, Assertiveness workshops and Goal Setting Class where 512 sessions of support where held.

In November 2022 we were able to bring on an additional wellbeing worker to help with the delivery & development of this work in particular to offer it to more foodbank clients.

NOTABLE ACHIEVEMENTS IN 2022-2023

LCC COMMUNITY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Financial review

The results are set out in detail on pages 11 to 25. The charity returned net incoming resources for the year of £320,349 (2022 - £172,764) leaving unrestricted funds of £247,533 (2022 - £189,326) of which £116,712 (2022 - £83,034) has been designated by the Board at the year end and restricted funds of £565,989 (2022 - £303,847).

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will 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. This level of reserves has been maintained throughout the year.

Structure, governance and management

The charity is a company limited by guarantee registered with the Charity Commission for Northern Ireland and a registered charity for taxation purposes.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mrs M Agnew

Mr B C Agnew MBE Mr S J Agnew Mr R Browne Mr R E Jennings Ms S S O Smyth

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Statement of trustees' responsibilities

The trustees, who are also the directors of LCC Community Trust for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. 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.

LCC COMMUNITY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Auditor

In accordance with the company's articles, a resolution proposing that GMcG Lisburn be reappointed as auditor of the company will be put at a General Meeting.

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies’ exemption.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Board of Trustees.

Mrs M Agnew Trustee

20 October 2023

LCC COMMUNITY TRUST

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LCC COMMUNITY TRUST

Opinion

We have audited the financial statements of LCC Community Trust (the ‘charity’) for the year ended 31 March 2023 which comprise the statement of financial activities, the statement of financial position, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

LCC COMMUNITY TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF LCC COMMUNITY TRUST

Other information

The other information comprises the information included in the trustees annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

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LCC COMMUNITY TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF LCC COMMUNITY TRUST

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

LCC COMMUNITY TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF LCC COMMUNITY TRUST

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

In identifying and assessing potential risks of material misstatement in respect of irregularities, including fraud and non-compliances with laws and regulations, we considered the following:

As a result of these procedures, we considered the opportunities and incentives that may exist within the charitable company for fraud and identified the greatest potential for fraud in income recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Companies Act 2006, and local tax legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty.

LCC COMMUNITY TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF LCC COMMUNITY TRUST

Audit response to risks identified

Our procedures to respond to the risks identified included the following:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. In addition, as with any audit, there remains a higher risk of non-detection of irregularities, as they may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect noncompliance with all laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

LCC COMMUNITY TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF LCC COMMUNITY TRUST

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's 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 members as a body, for our audit work, for this report, or for the opinions we have formed.

Mr Stephen Houston FCA (Senior Statutory Auditor) for and on behalf of GMcG Lisburn

20 October 2023

Chartered Accountants Statutory Auditor

Century House 40 Crescent Business Park Lisburn BT28 2GN

LCC COMMUNITY TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and
legacies
3
251,420
-
Charitable activities
4
7,163
571,881
Total income
258,583
571,881
Expenditure on:
Charitable activities
5
199,859
310,256
Net incoming resources
before transfers
58,724
261,625
Net incoming resources
before transfers
58,724
261,625
Gross transfers
between funds
11
(517)
517
Net income for the year/
Net movement in funds
58,207
262,142
Fund balances at 1 April
2022
189,326
303,847
Fund balances at 31
March 2023
247,533
565,989		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
251,420
116,315
86,502
579,044
26,660
341,380
830,464
142,975
427,882
510,115
79,346
318,747
320,349
63,629
109,135
320,349
63,629
109,135
-
(11,055)
11,055
320,349
52,574
120,190
493,173
136,752
183,657
813,522
189,326
303,847		 Total
2022
£
202,817
368,040
570,857
398,093
172,764
172,764
-
172,764
320,409
493,173

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

LCC COMMUNITY TRUST

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2023

Notes
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
16
Unrestricted funds
Designated funds
17
General unrestricted funds		 2023
£
58,137
714,228
772,365
(31,696)
116,712
130,822		 £
72,853
740,669
813,522
565,989
247,533
813,522		 2022
£
16,250
455,505
471,755
(20,506)
83,034
106,292		 £
41,924
451,249
493,173
303,847
189,326
493,173

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were authorised and approved by the trustees and authorised for issue on 20 October 2023 and signed on its behalf by:

Mr S J Agnew Mr R E Jennings Trustee Trustee

Company registration number NI632897

LCC COMMUNITY TRUST

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2023

Notes
Cash flows from operating activities
Cash generated from operations
21
Investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Financing activities
Payment of obligations under finance leases
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
(56,510)
(1,715)		 £
316,948
(56,510)
(1,715)
258,723
455,505
714,228		 2022
£
(8,739)
(2,940)		 £
187,929
(8,739)
(2,940)
176,250
279,255
455,505

LCC COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Charity information

LCC Community Trust is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 1-3 Graham Gardens, Lisburn, Antrim, BT28 1XE.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

The charity receives grants in respect of the provision of specified services, projects and activities. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

LCC COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies (Continued)

1.5 Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under one of the following headings: Costs of raising funds, Expenditure on charitable activities and Other expenditure.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, depreciation costs and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at the office. Office costs, depreciation costs, governance costs and payroll costs are allocated to charitable activities based on usage. The allocation of the support costs is analysed in note 8.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 20% straight line Motor vehicles 20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

LCC COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies (Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.9 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11 Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to net income/(expenditure) for the year so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

LCC COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

2 Critical accounting estimates and judgements (Continued)

Key sources of estimation uncertainty

Fixed assets

The annual depreciation charge on fixed assets depends primarily on the estimated lives of each type of asset and estimates of residual values. The directors regularly review these assets lives and change them as necessary to reflect current thinking on remaining lives in light of prospective economic utilisation and physical condition of the assets concerned. Changes in assets lives can have a significant impact on depreciation charges for the period. Detail of the useful lives is included in the accounting policies.

Restricted and unrestricted funds

Judgements are made in relation to allocation of income and expenditure to restricted and unrestricted funds. The directors consider it appropriate to allocate these funds based on interpretation of donations received.

Support costs

Judgements are made in relation to the allocation of support costs of the charity to its charitable activities. The directors consider it appropriate to allocate these costs based on the allocation of grant funding to the charitable activities in the year.

Deferred and accrued income

Income is deferred or accrued based on when the directors believe the company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

3 Donations and legacies

Unrestricted
Unrestricted
Restricted
funds
funds
funds
2023
2022
2022
£
£
£
Donations and gifts
249,420
116,315
86,502
Legacies receivable
2,000
-
-
251,420
116,315
86,502		 Total
2022
£
202,817
-
202,817

LCC COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

4 Charitable activities

Performance related grants
KickStart Social Supermarket income
Analysis by fund
Unrestricted funds
Restricted funds
Performance related grants
Department for Communities
Lisburn & Castreagh City Council
Trussel Trust
Housing Executive
The National Lottery
The Clear Project
PBNI
Communities Foundation NI
Education Authority
Church Revitalisation
Developing Healthy Communities
The Rank Foundation
South Eastern Recovery College
Marks & Spencers
J H Rausing Trust
Nationwide
Benefact Trust
Public Health Agency
Other		 2023
£
563,724
15,320
579,044
7,163
571,881
579,044
68,625
99,046
130,539
38,377
94,602
3,320
-
-
-
4,050
200
30,000
775
1,000
24,000
50,000
15,000
4,190
-
563,724		 2022
£
349,883
18,157
368,040
26,660
341,380
368,040
62,945
134,382
17,403
34,425
61,443
1,000
2,400
9,652
8,700
15,250
-
-
-
-
-
-
-
-
2,283
349,883

LCC COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

5 Charitable activities

Staff costs
Depreciation and impairment
Stipends
Missions
Project costs
Fundraising costs
Share of support costs (see note 7)
Share of governance costs (see note 7)
Analysis by fund
Unrestricted funds
Restricted funds		 2023
£
198,858
25,583
49,725
12,768
80,063
4,255
371,252
130,200
8,663
510,115
199,859
310,256
510,115		 2022
£
131,955
17,970
35,600
11,403
69,444
3,573
269,945
118,993
9,155
398,093
79,346
318,747
398,093

6 Description of charitable activities

Lisburn Community Trust

LCC Community Trust aims to serve the local community through Projects which help people physically, mentally, emotionally, financially, spiritually and relationally especially in areas of need and short-term crisis.

Lisburn Foodbank

The charity has partnered with the Trussell Trust network to bring a foodbank to the Lisburn community. Lisburn Foodbank offers crisis intervention for those on food poverty.

Kickstart Social Supermarket

This project supports those in long term food poverty to move to a place of stability.

Lisburn City Church

The charity aims to serve anyone who has an interest in or commitment to the Christian faith, through means of public worship, prayer meetings, bible teaching & pastoral care.

Ministry

The charity aims to serve anyone who has an interest in or commitment to the Christian faith, through means of public worship, prayer meetings, bible teaching & pastoral care.

LCC COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

7
Support costs
Rent, Rates and
Insurance
Light, heat and power
Repairs and
maintenance
Motor and travel
expenses
Administration expenses
Other expenses
Audit fees
Legal and professional
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
51,276
-
32,698
-
6,783
-
19,756
-
12,806
-
6,881
-
-
4,200
-
4,463
130,200
8,663
130,200
8,663		 2023
£
51,276
32,698
6,783
19,756
12,806
6,881
4,200
4,463
138,863
138,863		 Support
costs
Governance
costs
£
£
49,609
-
25,840
-
3,524
-
15,445
-
17,839
-
6,736
-
-
2,700
-
6,455
118,993
9,155
118,993
9,155		 2022
£
49,609
25,840
3,524
15,445
17,839
6,736
2,700
6,455
128,148
128,148

Governance costs includes payments to the auditors of £4,200 (2022- £2,700) for audit fees.

8 Trustees

During the year remuneration and other benefits were paid to Pastor M Agnew of £24,000 (2022 - £24,000) and Pastor B Agnew of £18,000 (2022 - £3,000) for the facilitation of classes and workshops and for services to the Church.

During the year the trustees individually made total donations without condition to the charity totalling £13,534 (2022 - £12,476).

During the year donations totalling £6,576 (2022 - £5,396) were made to the charity via businesses associated with trustees.

9 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
9 8

LCC COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

9
Employees (Continued)
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2023
£
185,504
8,975
4,379
198,858		 2022
£
125,938
3,823
2,194
131,955

The charity considers its key management personnel to be the Chief Executive Officer. The total employment benefits including employer pension contributions of the key management personnel was £38,326 (2022 - £33,020)

There were no employees whose annual remuneration was more than £60,000.

10 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

11 Transfers

During the year the charity made a decision to reanalyse the funded salaries fund in line with the grants received in relation to the various charitable activities.

There was also a small transfer from unrestricted to Lisburn City Church to cover overspend of funds.

12 Tangible fixed assets

Fixtures and
fittings
Motor vehicles
£
£
Cost
At 1 April 2022
46,701
54,811
Additions
4,910
51,600
At 31 March 2023
51,611
106,411
Depreciation and impairment
At 1 April 2022
26,591
32,995
Depreciation charged in the year
7,991
17,592
At 31 March 2023
34,582
50,587
Carrying amount
At 31 March 2023
17,029
55,824
At 31 March 2022
20,108
21,816		 Total
£
101,512
56,510
158,022
59,586
25,583
85,169
72,853
41,924

LCC COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

13
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
14
Creditors: amounts falling due within one year
Notes
Obligations under finance leases
15
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
15
Finance lease commitments
Future minimum lease payments due under finance leases:
Within one year		 2023
£
2,100
56,037
58,137
2023
£
-
3,940
12,597
1,077
14,082
31,696
2023
£
-		 2022
£
-
16,250
16,250
2022
£
1,715
-
10,763
603
7,425
20,506
2022
£
1,715

LCC COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

16 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Balance at
1 April 2021
r
£
LCC Community Trust
16,953
Food Bank
48,329
Funded Salaries
100,957
Kick Start
17,418
Lisburn City Church
-
WRAP mental health & wellbeing
-
183,657		 Movement in funds
Incoming
esources
Resources
expended
£
£
56,424
(11,715)
99,588
(93,223)
186,743
(157,002)
85,127
(56,807)
-
-
-
-
427,882
(318,747)		 Transfers
Balance at
1 April 2022
r
£
£
-
61,662
11,055
65,749
-
130,698
-
45,738
-
-
-
-
11,055
303,847		 Movement in funds
Incoming
esources
Resources
expended
Transfers
Balance at
31 March 2023
£
£
£
£
144,671
(103,217)
31,792
134,908
198,804
(76,979)
54,896
242,470
-
-
(130,698)
-
201,186
(108,970)
37,255
175,209
4,510
(11,782)
7,272
-
22,710
(9,308)
-
13,402
571,881
(310,256)
517
565,989		 Movement in funds
Incoming
esources
Resources
expended
Transfers
Balance at
31 March 2023
£
£
£
£
144,671
(103,217)
31,792
134,908
198,804
(76,979)
54,896
242,470
-
-
(130,698)
-
201,186
(108,970)
37,255
175,209
4,510
(11,782)
7,272
-
22,710
(9,308)
-
13,402
571,881
(310,256)
517
565,989
565,989

LCC Community Trust

Funding to cover the range of projects and activities carried out within the charity.

Foodbank

Funding and donations received to cover costs of running the foodbank.

KickStart

Funding and donations received to cover the costs of running the social supermarket

Lisburn City Church

Funding and donations received towards running and upkeep of Lisburn City Church

WRAP mental health & wellbeing

Funding received to run mental health and well being sessions for those in need in the local community.

LCC COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

17 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Movement in funds
Balance at Transfers Balance at Incoming Resources Balance at
1 April 2021 1 April 2022 resources expended 31 March 2023
£ £ £ £ £ £
Building fund - 83,034 83,034 33,873 (195) 116,712
- 83,034 83,034 33,873 (195) 116,712
The Board of Trustees has agreed to designate funds at the year end for future building development.
Analysis of net assets between funds
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
Fund balances at 31
March 2023 are
represented by:
Tangible assets 7,302 65,551 72,853 7,622 34,302 41,924
Current assets/(liabilities) 240,231 500,438 740,669 181,704 269,545 451,249
247,533 565,989 813,522 189,326 303,847 493,173

18 Analysis of net assets between funds

19 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2023
£
4,500
18,000
22,500		 2022
£
26,583
22,500
49,083

20 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

LCC COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

21 Cash generated from operations 2023 2022
£ £
Surplus for the year 320,349 172,764
Adjustments for:
Depreciation and impairment of tangible fixed assets 25,583 17,970
Movements in working capital:
(Increase) in debtors (41,887) (16,250)
Increase in creditors 12,903 13,445
Cash generated from operations 316,948 187,929
22 Analysis of changes in net funds
At 1 April 2022 Cash flowsAt 31 March 2023
£ £ £
Cash at bank and in hand 455,505 258,723 714,228
Obligations under finance leases (1,715) 1,715 -
453,790 260,438 714,228