Charity registration number 105492 (Northern Iland} Company registration number N1632897 LCC COMMUNiff TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
LCC COMMUNITY TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs M Agnew Mr B CAgnew MBE Mr S J Agnew Mr R Browne Mr R E Jennings MsSSOSmyth Secretary Mrs M Agnew Charity number (Northern Ireland) 105492 Company number N1632897 Prlncipal address 1-3 Graham Gardens Lisbum Co Antrim BT28 1XE Registered office 1-3 Graham Gardens Lisburn CoAntrim BT28 1XE Auditor GMCG Lisburn Century House 40 Crescent Business Park Lisbum BT28 2GN Bankers Santander Bridle Road Bootle Merseyside L30 4GB
LCC COMMUNITY TRUST CONTENTS Page Trustees, report Independent auditorfs report 5-10 statement of financial activities 11 statement of financial position 12 Statement of cash flows Notes to the financial statements 14-26
LCC COMMUNITY TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance llth 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 IFRS 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, Ihrough meeting peoples, needs in a practical and holistic way and by creating opportunities for encouragement, mentoring, personal growih and skills development. The truslees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achievements and performance This year has been one of bolh challenge and incredible community impact for LCC Community Trust. As the cost- of-living crisis continues to affect families across Lisbum and surrounding areas, the demand for our services has remained high. Despite significant decreases in donations and stock levels, thanks to the dedication of our volunteers, staff, and supporters, we have continued to deliver vital support to those who need it most. Our Mission LCC Community Trust exists to support people facing povety, financial hardship, and social isolation. Through our Lisburn Foodbank, Social Supennarkel, Community Money Advice {CMA) services, and a range of community activities, we aim to meet immediate needs while equipping individuals and families for a brighter, more stable future. LISBURN FOODBANK In 2024-25, we were able to support through the following: 52,317.5 kg of food distributed, equating to 124,565 meals Supported 2,630 people, including 1,004 children and 1,626 adults 560/0 of households using the foodbank were first-time referrals Despite a 15.6°fi decrease in donations and a 23.fi drop in stock levels. we met ongoing demand 250 family and 150 adult-only Christmas food bags distributed, providing over 6,500 meals during the festive period. Reasons for referral were rising cost of essentials1560A), and prioritylnon priority debts (13.76 /0). Household circumstance5 was also a reason for referrals due to the following; 21.30/0. In employment 70 /o.' Not in work 7.7 %. Families with no income.
LCC COMMUNITY TRUST TRUSTEES, REPORT {INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 SOCIAL SUPERMARKET & COMMUNifi MONEY ADVICE During the year we were able to engage in the following; Supported 207 households, wth 187 accessing the Social Supermarket and 20 going directly onto CMA support Achieved £65,444 in financial gains for clients Managed £571,255 of debt on behalf of individuals and families Provided 561 one-to-one appointments, covering budgeting, debt, utilities, and employment support Signposted approximately 432 households to other organisations for further assistance Distributed additional Christmas SUPPOrt, including 88 Christmas bags and gifts to 19 families from Cash for Kids UK Provided £14,800 in Bryson Fuel support to 74 households. along with essential household appliances for families in crisis. COMMUNITY ACTIVITIES Delivered 153 sessions through acttvities such as Air Fryer cookery courses, Brew & Bowls, Summer Scheme, Walking Groups, and more Engaged 1.712 people through these initiatives. tackling isolation and promoting wellbeing Prevented 2.13 tonnes of food waste through our partnership with Too Good To Go VOLUNTEER IMPACT 5,480.5 volunteer hours contributed, valued at £62,696.92 based on minimum wage Our volunteers continue to be the heartbeat of our work, providing essential support across all areas of the Trust.
LCC COMMUNITY TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Financial review The results are set out in detail on pages 11 to 26. The charity returned net incoming resources for the year of £67,224 (2024 - £262.9261 leaving unrestricted funds of £394,999 (2024 £359.832) of which £206,935 {2024 £153,413) has been designated by the Board al the year end and restricted funds of £748,673 (2024 - £716,616). 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 Irustees 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 reseNes has been maintained throughout the year. Plans for future periods This year, we undertook a significant review of our Strategic Plan to ensure our services remain focused, effective, and responsive to community needs. Following extensive reflection and feedback from staff, volunteers, and service users, we streamlined our activities to concentrate on core areas.. Food and Finance. By prioritising ¢rtsis food support and financial resilience, we are better positioned to address the root causes of poverty and hardship. This refined approach allows us to maximise impact, reduce duplication. and ensure our limited resources are direcled where they are needed most - helping families put food on the table and build greater financial stability. Looking Ahead WlIe the year brought challenges such as reduced stock and donations. the need for our SeNiS ojntinues to grow. The Trustees remain Committed to strengthening partnerships, seeking sustainable funding, and developing innovative ways to support vulnerable individuals and families. We extend our heartfelt thanks to our volunteers, staff, funders, donors, and community partners whose contributions have made this yeaff s impact possible. LCC Community Trust remains a vital lifeline for many in our community. With continued support, we will build on this year's achievements. ensuring that no one in Lisbum faces crisis alone. 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 slatements were.. Mrs M Agnew Mr B CAgnew MBE Mr S J Agnew Mr R Browne Mr R E Jennings MsSSOSmyth None of the trustees has any beneficial interest in the company. All of the twstees are members of the company and guarantee lo contribute £1 in the event of a winding up.
LCC COMMUNITY TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 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 thal year. In preparing these financial statements. the trustees are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP 2019 (FRS 102). make judgements and estimates that are reasonable and prudent-, state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the f5nancial 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 reasonab5e steps for the prevention and detection of fraud and other irregularities. 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. Small companies exemptions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies. exemption. Dlsclosure of information to auditor Each of the trustees has confirmed that there is no infomiation of which they are aware which is relevant to the audit, but of which the auditor is unaware They have further confirmed that Ihey have taken appropriate steps to identify such relevant infomiation and to establish that the auditor is aware of such infonnation. The trustees, report was approved by the Board of Trustees. MrsMA Trustee new Date..
LCC COMMUNITY TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LCC COMMUNITYTRUST Opinion We have audited the financial statements of LCC Community Trust (the 'charity'l for the year ended 31 March 2025 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 Uniled lQngdom 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.. give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming reSoUrS and application of resources, including its income and expenditure, for the year then ended., have been properly prepared in accordan with Untted Kingdom Generally Accepted Accounting Practi. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit ol the financial statemenls 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 cOnM basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomed, we have not identrfied 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 concem are described in the relevant sections of this report.
LCC COMMUNITY TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF LCC COMMUNITYTRUST other infomiatlon The other information comprises the information included in the trustees annual report other than the financial statements and our auditorfs report Ihereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other infomiation and, except to the extent othetwise explicitly stated in our report. we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the other information and, in doing so, consider whether the other infomiation 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.. the infomiation given in the trustees, report for the financial year for which the financial statements are prepared, which includes the directors, report prepared for the purposes of company law, is consistent with the financial statements-, and the directors, report included within the trustees, report has been prepared in accordance with applicable legal requirements. 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= adequale accounting records have not been kept. or retums adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees, remuneration specified by law are not made. or we have not received all the information and explanations we require for our audit., or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the trustees, report and from the requirement to prepare a strategic report.
LCC COMMUNITY TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF LCC COMMUNITYTRUST 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 Ihat 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 Irustees are responsible for assessing the charity's ability to continue as a going concem, 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 altemative 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 lo fraud or error, and lo issue an auditoffs 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 Ihe 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, lo detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of delecling irregularities, including fraud, is detailed below.
LCC COMMUNITY TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF LCC COMMUNITYTRUST 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: The nature of the industry and sector, control environment and business performance, including the charitable company's remuneration policies for directors, bonus levels and performance targets, if any., Results of our enquiries of management about their own identification and assessment of the risks of irregularities., Any matters we identified having obtained and reviewed the charitable company's documentation of their policies and procedures relating to- Identifying, evaluating and complying with laws and regulations and whether they were aware of any instance of non-compliance., Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud.. and The internal controls established to mitigate risks of fraud or non-compliance with laws and regulations- The matters discussed among the audit engagement team regarding how and where fraud might occur in the financial slatements and potential indicators of fraud. 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 charitable company operates in, focusing on provisions of those laws and regulations that had a direct effect on the delemiination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the CompaniesAct 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 charitable company's ability to operate or to avoid a material penalty.
LCC COMMUNITY TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF LCC COMMUNITYTRUST Audit response to risks identified Our procedures to respond to the risks identified included the following= Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements. Enquiring of management concerning actual and potential litigation and claims- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due lo fraud. Reading minutes of meetings of those charged with govemance and reviewing correspondence with tax authorities., and In addressing the risk of fraud throLtgh management override of controls, testing the appropriateness of journal entries and other adjustments,. assessing whether the judgements made in making accounting estimates are indicative of a potential bias- and evaluating the business rationale of any significant transactions that are unusual or outside the nomial course of business. 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 thal 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 wilh any audit, there remains a higher risk of non-deteclion of irregularities, as they may involve collusion. forgery, intentional omissions, misrepresentations, or the override of internal controls. We are nol responsible for preventing non-compliance and cannot be expected to detect non- compliance with all laws and regulations. A further description of our responsibilities is available on the Financial Reporting Council's website at.. https'.11 w.frG.org.uklauditorsresponsibilities. This description forms part of our auditor's report.
LCC COMMUNITY TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF LCC COMMUNITYTRUST Use of our report This report is made solely to the charitable company's members, as a body, in accordance wth Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitatje 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 pemiitted by law, we do not accept or assume responsibility lo 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 ouston FCA {Senior Statutory Auditor) for and on behalf of GMCG Lisburn Chartered Accountants statutory Auditor Century House 40 Crescent Business Park Lisburn BT28 2GN 10-
LCC COMMUNITY TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Notes Income and endowments from: Donations and legacies Charitable activities Other income 351.085 314,685 18.680 665.770 18.680 11.000 366.367 585,842 17,480 3.900 952,209 17,480 3,900 11,000 Total income 362,085 333,365 695,450 366,367 607,222 973,589 Expenditure on: Charitable activities Other expenditure 326,918 298.948 2.360 625.866 2,360 254.068 456.595 710,663 12 Totsl expenditure 326.918 301,308 628,226 254,068 456,595 710,663 Net income and movement in funds 35,167 32,057 67,224 112,299 150,627 262,926 Reconclliation of funds: Fund balances at 1 April 2024 359,832 716.616 1,076.448 247,533 565.989 813,522 Fund balances at 31 March 2025 394.999 748.673 1,143.672 359,832 716,616 1,076,448 The statement of financial activities includes all gains and losses recognised in the year. All income and expendilure derive from continuing activities. 11
LCC COMMUNITY TRUST STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets Investments 14 15 75,591 500,QOO 63,024 575.591 63,024 Current assets Debtors Cash at bank and in hand 16 83,255 496,375 96,853 940,921 579.630 1,037,774 Creditors: amounts falling due within one year 17 (11,549) (24,350) Net current assets 568,081 1,013,424 Total assets less current Ilabilitles 1,143.672 1,076,448 The funds of the charity Restricted income funds Unrestricted funds 19 20 748,673 394,999 716,616 359,832 1,143,672 1,076,448 These financial statements have been prepared in accordance with the provisions applicable lo companies subject to the small companies regime. The financial statements were approved by the trustees on . and signed on their behalf by., Mr S JAgnew Trustee Mr R E Jennings Trustee Company registration number N1632897 (Northem Ireland) 12-
LCC COMMUNITY TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operating activities Cash generated from operations 23 92,324 244,831 Investing activities Purchase of tangible fixed assets Proceeds from disposal of tangible fixed assets Purchase of investments (63,870) {34,638) 27,000 (500.000) 16,500 Net cash used in investing activities (536,870) (18,138) Net cash generated from financing activities Net (decrease)lincrease in cash and cash equivalents (444,546) 226,693 Cash and cash equivalents at beginning of year 940,921 714,228 Cash and cash equivalents at end of year 496,375 940,921 13-
LCC COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 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, Lisbum, CoAntrim. 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 20191. 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 slatements 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 adequale resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the tnjstees 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 ofthe designated funds are set out in the notes to the financial statements. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the noles to the financial slatements. 1.4 Income Income is recognised when the charity is legally entitled to it after any perfomiance 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 GiftAid 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 activrties. 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 Ihe 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. 14-
LCC COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continuedl 1.5 Expenditure All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs reSated to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, il 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, govemance 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, nel 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 Motor vehicles 20 % straight line 20 % straight line The gain or loss arising on the disposal of an asset is detemiined 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 Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomellexpenditure) for the year. Transaction costs are expensed as incurred. 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call wth banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in currenl liabilities. 1.9 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, wlh the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and Ihere is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 15-
LCC COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) 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 inlerest method unless the arrangement constitutes a financing transaction, where the transaction is measured at Ihe present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing Iransaction, 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. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termir)ation 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. 1.11 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 16-
LCC COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 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 carying amount of assets and liabilities that are not readily apparent from other sources. The eslimates 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. 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 regulady review these assets lives and change them as necessary to reflect current thinking on remaining lives in lighl 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 fund5. The directors consider it appropriate to allocate these funds based on interpretation of donalions received. Support costs Judgements are made in relation to the allocation of support costs of the charity to its Charitab 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 il after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Income from donations and legacies Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Donations and gifts Grants Donated goods and services 351,085 4,297 310,388 355,382 310,388 331.781 33,329 1,625 584,217 333,406 617,546 1.257 1,257 351,085 314.685 665,770 366,367 585,842 952.209 17-
LCC COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from donations and legacies Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 {Continued) Grants Department for Cornmunities Lisburn & Castreagh City Council Trussel Trust Trussel Trust - OLM Housing Executive The National Lottery The Clear Project Church Revitalisatiion The Rank Foundation Church of Latter Day Saints Coop Cash for Kids 55,235 55,235 600 50,643 51,243 139,940 61,380 {46.725) 139,940 61,380 (46.725) 124,929 192,861 124,929 215,130 22,269 27,824 109,507 3,748 41,090 33,615 27,824 119,107 3,748 41,090 33,615 9.600 (254) 29,250 16,222 {2541 29,250 16,222 52.340 52,340 860 860 3,000 3.000 310,388 310,388 33,329 584,217 617,546 Government grants Funding received From Trussel Trust- OLM of £46.725 in the year ended 31 March 2024 was refunded to the funders in the current year due to the project not commencing. Donated goods and services Donated goods and services of £1.257 (2025 - £nil) in the prior year represents the value of equipment, donated by AB Refrigeration. Income from charitable activities Restricted funds 2025 Restricted funds 2024 Charitable income Kickstart Social Supermarket Income 18,680 17,480 18-
LCC COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Other income Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Net gain on disposal of tangible fixed assets 11,000 11.000 3,900 3,900 Expenditure on charitable activities Charitable Charitable expenditure expenditure 2025 2024 Direct costs Staff costs Depreciation and impaiment Stipends Missions Project costs Fundraising costs 279,226 32,942 50.100 22,290 57,403 4,749 290,619 31,867 48.900 16,270 171,730 4,139 446,710 563,525 Share of support and governance costs (see note 8) Support Governance 163,651 15,505 138,834 8,304 625,866 710,663 Analysis by fund Unrestricted funds Restricted funds 326,918 298,948 254,068 456,595 625,866 710.663 19-
LCC COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 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 povety. Kickstart Social Supermarket This project supports those in long te 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, thrgh 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, thrwgh means of public worship, prayer meetings, bible teaching & pastoral care. Support costs allocated to activities 2025 2024 Rent, rates & insurance Light, heat & power Repairs & maintenance Motor & travel expenses Adminsitration expenses other expenses Governance costs 55,604 24,388 10,332 38,714 28,324 6,289 15,505 50,406 16,918 10,590 35,249 19,662 6,009 8,304 179,156 147,138 Analysed between: Charitable expenditure 179,156 147,138 2025 2024 Governance costs comprise: Audit fees Legal and professional 4,620 10,885 4,200 4,104 15,505 8,304 -20-
LCC COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Net movement in funds 2025 2024 The net movement in funds is stated after chargingl(crediting)= Fees payable for the audit of the charity's financial statements Depreciation of owned tangible fixed assets Profit on disposal of tangible fixed assets 4,620 32,942 (8,6401 4,200 31,867 (3,900) 10 Trustees During the year remuneration and other benefits were paid to Pastor M Agnew of £24,00012024 £22,800) and Pastor B Agnew of £18,000 (2024 - £18,000) for the facilitation of classes and workshops and for services to the Church. During the year the trustees individually made total donab'ons without condition to the charity totalling £37,625 (2024- £10,168). During the year donations totalling £16,200 (2024 - £4,225) were made to the charity via businesses associated with trustees. 11 Employees The average monthly number of employees during the year was: 2025 Number 2024 Number 13 Employment costs 2025 2024 Wages and salaries Social security costs Other pension costs 258.833 15,274 5,119 269,994 15,321 5,304 279,226 290,619 The charity considers Its key management personnel to be the Chief Executive Officer and Finance Manager. The total employment benefits including employer pension contributions of the key management personnel was £69,936 (2024 - £44.803). There were no employees whose annual remuneration was more than £60,000. 21
LCC COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Other expenditure Restricted funds 2025 Restricted funds 2024 Net loss on disposal of tangible fixed assets 2,360 13 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 14 Tangible fixed assets Fixtures and fittings Motor vehicles Total Cost At 1 April 2024 Additions Disposals 47,440 575 114,161 63,295 (49,0511 161,601 63,870 (49,051) At 31 March 2025 48,015 128,405 176,420 Depreciation and impairment At 1 April 2024 Depreciation charged in the year Eliminated in respect of disposals 33,049 7,261 65,529 25,681 130,691) 98.578 32,942 {30,691) At 31 March 2025 40.310 60,519 100,829 Carrying amount At 31 March 2025 7,705 67,886 75,591 At 31 March 2024 14,392 48.632 63,024
LCC COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Fixed asset investments Listed investments Cost or valuation Al 1 April 2024 Additions 500,000 At 31 March 2025 500,000 Carrying amount At 31 March 2025 500,000 At 31 March 2024 16 Debtors 2025 2024 Amounts falling due within one year: Prepayments and accrued income 83,255 96,853 17 Creditors: amounts falling due within one year 2025 2024 Other taxation and social security Trade creditors Other creditors Accruals and deferred income 3,763 11,242 1,122 8,223 (260) 1,238 10,571 11,549 24,350 18 Retirement benefit schemes 2025 2024 Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes 5,119 5,304 The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. -23-
LCC COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At 1 April 2024 Incoming resources Resources At 31 March expended 2025 LCC Community Trust Food Bank Kick Start Lisbum City Church WRAP mental health & wellbeing 132,834 413.922 165.737 31,486 85,488 211,694 4,950 (253) (96,057} (123,399) 176,902) (4,950) 68,263 376,011 300,529 4,123 3,870 716.616 333,365 (301,308) 748,673 Previous year: At 1 April 2023 Incoming resources Resources At 31 March expended 2024 LCC Community Trust Food Bank Kick Start Lisburn City Church WFUIP mental health & wellbeing 134.908 242.470 175,209 167.829 317,774 113,031 4,840 3,748 (169,903) (146,322) (122.5031 (4,8401 (13,027) 132,834 413,922 165,737 13,402 4,123 565.989 607,222 (456,595) 716,616 LCC Communlty 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 Lisbum City Church WRAP mental health & wellbeing Funding received to run mental health and well being sessions for those in need in the local communty. -24-
LCC COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 20 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subjecl to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 April 2024 Incoming resources Resources At 31 March expended 2025 Building fund General funds 153.413 206,419 53,522 308,563 206,935 188,064 {326,918) 359,832 362,085 (326.918) 394,999 Previous year: At 1 April 2023 Incoming resources Resources At 31 March expended 2024 Building fund General funds 116,712 130,821 36,701 329,666 153,413 206,419 (254,068) 247,533 366,367 1254.0681 359,832 The Board ofTrustees has agreed to designate funds at the year end for future building development. 21 Analysis of net assets between funds Unrestricted funds 2025 Restricted funds 2025 Total 2025 At 31 March 2025: Tangible assets Investments Current asselsl{liabililies) 75,031 206,935 113.033 560 293,065 455,048 75,591 500,000 568,081 394,999 748,673 1,143,672 Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 31 March 2024: Tangible assets Current assetsl(liabilities) 31,824 328,008 31,200 685,416 63,024 1.013,424 359,832 716,616 1,076,448 -25-
LCC COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 22 Related party transactions There were no related party disclosures during the year {2024- none). 23 Cash generated from operations 2025 2024 Surplus for the year 67,224 262,926 Adjustments for: Gain on disposal of tangible fixed assets Depreciation and impairment of tangible fixed assets (8,640) 32,942 13,900) 31,867 Movements in working capital: Decreasel{increase) in debtors {Decreasel in creditors 13,599 (12,801) {38,716) 17,346) Cash generated from operations 92,324 244,831 24 Analysis of changes in net funds The charity had no material debt during the year. -26-