Loughview Training ServiLces Limited
Statement of Financial Activities for the Year Ended 31 March 2023
ncluding Income and Expenditure Account and Statement of Total Recognised Gains
and Losses)
Unrestricted
funds
Restricted
funds
Total
2023
Note
Income and Endowments from:
Gov¢rnm¢nt grants
Charitable activities
Invesiment income
218,730
795
386
27,062
245,792
795
386
Total income
219,911
27,062
246.973
Expenditure on:
Charitable activities
(311,595)
(27.062)
(338.657)
Total expenditure
(311,595)
(27.062)
(338.657)
Net expenditure
(91,684
(91,684)
Net movement in funds
(91.684)
(91,684)
Reconciliation of funds
Total funds brought fonvard
219,914
219,914
Total funds carried forward
14
128.230
128.230
Total
2022
Unrestricted
Restricted
Note
Income from:
Government grants
Investment income
292,244
40
51.750
343.994
40
Total Incorne
292.284
51,750
344,034
Expenditure on:
Charitable activities
(317,974)
(51.750)
(369,724)
Total Expenditure
(317.974)
(51.750)
(369,724)
Net expenditure
(25,690)
(25,690)
Net movement in fvnds
(25,690)
(25.690)
Reconciliation of funds
Total funds brought forward
245,604
245,604
Total funds carried forward
14
219,914
219,914
All of the charity's activities deriv¢ from continuing operations during the above two periods.
The funds breakdown is shown in note 14.
The notes on pages I I to 18 forn] an integral part of these financial statements.
Page 9

Loughvieiv Training Services Limited
(Registration number: IP000258)
Ba12nce Sheet as at 31 March 2023
2023
2022
Note
Fixed assets
Tangible assets
2,358
3,207
Current assets
Debtors
Cash at bank and in hand
io
47,185
87,183
134,368
25,971
199.795
225,766
Creditors: Amounts falling due within one year
12
(8,484)
(9,047)
Net current assets
125,884
216,719
Net assets
128.242
219,926
Fujjds of th¢ Charity:
Unrestricted income funds
Called up share capital
Unrestricted
13
12
128,230
12
219,914
Total unrestricted funds
128,242
219,926
Total funds
14
128,242
219,926
The financial statements on pages 9 to 18 were approved by the tn￿tee$, and authorised for issue on 28 June
2023 and signed on their behalf by:
Mr R Finlay
Chairnlan and Trnstee
The notes on pages I I to 18 forn] an integral part of these fmancial statements.
Page 10

Loughview Training Services Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
I Charity ststus
The charity is limited by share capital. incorporated in Northern Ireland.
The address of its registered office is:
Twin Spires Centre
Unit HF5 Howard Building
Belfast
BT13 2JF
These fmancial statements were authorised for issue by the trustees on 28 June 2023.
2 Accounting polieies
Summary of significant accounting policies and key aceounting estimates
The principal accounting policies applied in the preparation of these financial staternents are set out below.
These policies have been consistently applied to all the years presented. unless otherwise stated.
ststement of compliance
The fjnancial staternents have been prepared in accordance with Accounting and Reporting by Charities:
Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January
2015)- (Charities SORP (FRS 102)). and the Industrial & Provident Soci¢ti¢s Act (Nl) 1969 and 1976.
Basis of preparation
Loughview Training Service5 Limited meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recogDis¢d at historical cost or transaction value unless othenvise stated in the relevant
accounting policy notes.
Going concern
The fmancial statements have been prepared on a going concern basis as the trustees consider that there are no
material uncertainties about the charity's ability to continue as a going concern nor any significant areas of
uncertainty that affect the canying value of assets held by the charity. The trustees have considered both the
level of fimds held and the expected level of illcome and expenditure for 12 months from authorising these
fmancial statements. taking into consideration all relevant factors including the Covid 19 pandemic.
Income
All income is recognised once the charity has entitlement to the incom¢. it Is probable that the income will be
received and the amount of the income receivable can be measured reliably.
Grunls receivable
Grants are recogni5ed when the charity has an entitlement to the fimds and any conditions linked to the grants
have been met. Where perforniance conditions are attached to the grant and are yet to be met, the income is
recognised as a liability and included on the balance Sheet as defe￿ed incorne to be released.
Page I

Loughview TrainiDg Services Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Expenditure
All expenditure is recognised once there is a legal or constrnctive obligation to that expenditure, it is probable
settlement is required and the amount can be measured reltably. All costs are allocated to the applicable
expenditure heading that aggregate similar Costs to that category. Where Costs cannot be directly attributed to
particular headings they have been allocated on a basis consistent with the use of resources, with central staff
osts allocated on the basis of time spenL and depreciation charges allocated on the portion of the asset's use.
Other support costs are allocated based on the SPTead of staff costs.
Charilable aellvities
Charitable expenditure comprises those costs inCu￿ed by the charity in the delivery of its acttvities and services
for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an
indirect nature necessary to support theln.
Governance eosts
These include the costs atiributable to the charity's complÈance with constitutional and statutory requirements,
including audit, strategic management and trustees meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Pardgraph I Schedule 6 of the Finance Act 2010 and
therefore it meets the definition of a charitable company for UK corpoiation tax purposes. Accordingly. the
charity is potentially exempt from taxation in respect of income or capital gains received within categorie5
covered by Chapter 3 Part I l of the CO￿oration Tax Act 201 O or Section 256 of the Taxation of Chargeable
Gains Act 1992. to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible r]xed assets
Indivtdual r￿ed &ssets are initially recorded at cost, less any subsequent accumulated depreciation and
subsequent accumulated impairn]ent losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off th¢ cost or valuation. less any estimated
Tesldual value. over th¢ir expected useful economic life a5 follows..
Asset elass
Fixtures, fIttings and equipment
Depreciation method and rate
200/0 stratght line
Trade debtor5
Trade debtors are amounts due from customeTS for merchandise sold or services perfomied in the ordinary
course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at cost less
provision for impairmenl. A provision for the irnpainnent of trade debtors is established when there is objective
evidence that the charity will not be able to collect all amount5 due according to the original terms of the
receivables.
Cash and cash equlvalents
Cash and cash equivalents compris¢ cash on hand and call deposits, and other short-tenn highly liquid
investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of
change in value.
Page 12

Loughview Training Services Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Trade ereditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Accounts payable are classified as cuffent liabilities if the charity does not have an
unconditional right, at the end of the r¢porting period, to defer settlement of the creditor for at least twelve
months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months
after the reporting date, they are presented as non-cuffent liabilities.
Trade creditors ar¢ recognised initially at the transaction price and subsequently me&sured at amortised cost
using the effective interest method.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of
the objectives of the Charity.
Designated funds are unrestricted fimds earn]arked by the trustees for particular purposes.
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these
riteria is cb&rg¢d to the fund, together with a fair allocation of management and support costs.
Pensions and other post retirement obligations
The ch&rity operates a defined contribution pension scheme whÈch is a pension plan under which fixed
contributions are paid into a pension fimd and the charity has no legal or constructive obligation to pay fijrther
contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to
employee service in the cu￿ent and prior periods.
Contributions to def￿ed contribution plans are reCO￿lSed in the Statement of Financial Activities when they are
due. If contribution payments exceed the contribution due for service. the excess is recognised as a prepayment.
Income from charitsble activities
Unrestricted
funds
General
Restricted
funds
Tot21
2023
Total
2022
Government training grants
Government support grants
218,730
27.062
245.792
308,105
35,889
218,730
27.062
245.792
343,994
3 Investment income
Unrestrieted
funds
General
Total
2023
Total
2022
Interest receivable and similar income.
Interest receivable on bank deposits
386
386
40
Page 13

Loughvxew Training Services Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
4 Expenditure on charitsble activities
Unreslricted
funds
General
Restricted
funds
Totsl
2023
Total
2022
Employment costs
Industy Training bonus
Tuition costs
Examination and registration fees
Staff travel, conferences
Relocation expenses
Rent and rates
Heat light and power
Insurance
Repairs
Telephone
Postage stationery and advertising
Hospitality
Sundry expenses
Bank charges
Depreciation
233,511
233,511
27,062
26,836
7,303
11,027
233,234
51.750
29,131
8,131
8,036
2,013
9.954
2,574
2.585
5,804
4,669
1.694
274
27.062
26,836
7,303
11,027
7,693
2,916
2,761
4,076
4,785
1,493
199
3.030
546
1,129
7,693
2,916
2,761
4.076
4,785
.493
199
3,030
546
1.129
3,839
582
1,199
307,305
27,062
334.367
365.469
In addition to the expenditure analysed above, there are also governance costs of £4,290 (2022 - £4.255) which
relate directly to charitable activitics. See note 5 for further details.
5 AJ)alysis of governance and sUPPOrt costs
Governance costs
Unrestricted
Total
2023
Total
2022
General
Audit fees
Audit of the financial statements
Legal and professional fees
2,l12
2,178
2,112
2,178
2.052
2,203
4,290
4,290
4,255
Pag¢ 14

Loughview Training Services Limited
Notes to the Finaneial Statements for tbe Year Ended 31 March 2023
6 Staff costs
The aggregate payoll costs were as follows:
2023
2022
Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs
Other staff costs
209,817
10,567
11,097
2,030
206,340
12,387
12,204
2,303
233,511
233,234
The monthly average number of persons (including senior management I leadership team) employed by the
charity during the year expressed as full time equivalents was as follows:
2023
2022
AdEninistration and training
10
No employee received emoluments of more than £60,000 during the year.
7 Auditors, remuneration
2023
2022
Audit of the f￿anCIal statements
2.112
2,052
8 Taxation
The Charity is a registered charity and is th¢r¢fore exempt from taxation.
Page 15

Loughview Training Services Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
9 Tangible fixed assets
Fixtures,
rittings and
equipment
Total
Cost
At l April 2022
Additions
20,862
280
20,862
280
At 31 March 2023
21,142
21,142
Depreciation
At l April 2022
Charge for th¢ yeat
17,655
1,129
17,655
1.129
At 3 R March 2023
18,784
18,784
Net book value
At 31 March 2023
2.358
2,358
At 31 March 2022
3,207
3,207
10 Debtors
2023
2022
Trade debtors
Prepawients
Other debtOTS
44,491
1,794
900
23.226
1.745
1,000
47,185
25,971
I I Cash and eash equivalents
2023
2022
Cash on hand
Cash at bank
61
87,122
246
199,549
87.183
199,795
12 Creditors: amounts falling due within one year
2023
2022
Accrnals
8,484
9,047
Page 16

Loughview Training Services Limited
Notes to tbe Financial Statements for the Year Ended 31 March 2023
13 Share eAPltal
Allotted, Called up and fully paid shares
2023
2022
Ordinary Shares of £1 each
12
12
12
12
14 Funds
Balance at I
April 2022
IncomÉng
resources
Resourees
expended
Balance at 31
March 2023
Unrestricted funds
GeneraI
219,914
219.911
(311,595)
(27.062)
128,230
Restricted fund5
27,062
Total funds
219,914
246.973
(338,657
128,230
Balance at I
April 2021
Incoming
resources
Resources
expended
Balance at 31
March 2022
Unre5trieted funds
General
245,604
292,284
(317.974)
219,914
Restricted funds
51,750
(51,750)
Total funds
245,604
344,034
(369.724)
219.914
15 Analysis of net assets between funds
Unrestricted
funds
General
Total funds at
31 March
2023
Tangible fixed a55ets
Current assets
Cutrent liabilities
2,358
134.368
(8,484
2,358
134,368
(8,484
Total net &55ets
128,242
128,242
Page 17

Loughview Training Services LimAted
Notes to the Financial Statements for the Year Ended 31 March 2023
16 Related party transactions
Trustees
The charity is controlled by the trustees who are all directors of the company.
During the year a tn￿tee of the charity was paid £Nil (2022 £Nil) for services perfonlled on behalf of the
charity.
Page 18