Loughview Training Services Limited
Trustees, Report
The trustees, who are directors for the pury)oses of company law, present the annual report together with the
fmancial statements and auditors, report of the charitable cornpany for the year ended 31 March 2023.
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees:
Mr R Finlay
Ms J Chester
Mrs G McGlone
Mr R Mccomb
Mrs T Cll￿an
Mr P Markey
Mrs A Braden
Mr l Megaw (retirement 30 September 2022)
Chairn]an:
Mr R Finlay
Secretary:
Ms J Chester
Objectives and activities
Objects and aims
The principal activity of the charitable company is the provision of career training facilities. The charity's aim is
to deliver qualÈty training and emploJThent opportunities to improve employability and skills for those a]ready
employed through apprenticeships.
Objeclives, strategies and aclivili
The charity provides apprenticeship training to employees aged 18-25 working over 21 hours a week.
The company is a community based non-profit making charitable training provider for apprenticeship training
for employee5 in framework areas for both levels 2 and 3 in Retail, Tearn-Leading, Management, Hospitality
and Catering. Warehousing, Customer Service and Business Administration over all Northern Ireland within the
remit of the DFE apprentice progranun¢.
Training is provided to employees on employers premises by outreach assessors. Essential skills training is a150
provided.
Public benefil
In Setting our objectives and planning our activities for the year the trustees have given careful considerdtion to
the Charity Commission for Northern Ireland's guidance on public benefit to ensure that the activities hav¢
helped to achieve the charitys purpose and provide a benefit to the beneficiaries.
The direct benefits that flow from the Charity'5 activities are improved employment and progression
opportunities for 16 24 year olds through the provision of vocational training. qualifications and upskilling
provided by the Apprenticeship contract.
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Loughview Training Services Limited
Trustees, Report
Financial review
The trustees can report an overall decrease of incoming resources of the charity for the current year at £246,973
(2022 £344.034). This is mainly due to reduced training grants and the cessation of support grants. The main
source of income is £245,792 of training grants. Total resources exp¢nded were down on the previous year at
£338,657 (2022 £369,724), largely due to decreased industy training bonuses being paid out to trdinees. This
resulted in an overall net deficit in ￿ndS of £91,684, compared to £25,690 in the previous year. Total funds of
the charity are now £128,242 and are all allocated to unrestricted fvnds.
Plans for future periods
and key objecllveslorfutureperlods
The aftermath of the Covid-19 pandemic will continue to have an effect on the activities of the charity over the
next few years. Employers are currently experiencing difficulty recruiting staff and this will have a direct impact
on the number of apprentices on the ApprenticeshÈp Programme. The trustees have taken steps to ensure the
continuity of the charities operations. With the Continuation of grant income, together with the cash reserves
built up over the years, the trustees ale confident of the viability of the charity going forward
Financial Èn5truments
Objectives andpolicies
The charity's activities expose it to a nurnber of financial risks including credit risk, cash flow risk and liquÉdity
risk.
Cashflow risk
The charity's activities expose it primarily to the financial risks of changes in Govenllnent funding and support
for training contracts.
Creth"t risk
The charity's principal financial assets are bank balance5 and cash, trade and other receivable5, and investments.
The charity's credit risk is primarily attributable to it5 trade receivables. The amounts presented in the balance
sheet are net of allowances for doubtfvl receivables. An allowance for impairnient is made where there is an
identtfied loss event which, based on previous experience, is evidence of a reduction in the recoverability of the
cash flows.
Liquidity risk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operatTons and future
developments. the charity uses cash reserves.
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Loughview Training Services LiLmited
Trustees, Report
Trllstees, responsibilities
The tn￿teeS (who are also the directors of Loughview Training Services Limited for the pU￿OseS of company
law) are responsible for preparing the trustees, report and the financial statements in accordance with applicable
law and United Kingdom Accounttng Standards (United Kingdom Generally Accepted A¢¢ounting Practlce),
including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
Company law requires the trustees to prepare fmancial statements for each financial year. Under company law
the trustees must not approve the fmancial statements unless they are satisfied that they give a true and fair view
of the state of affairs of the charitable company and of the incoming resources and application of resources,
including its income and expenditure, of the charitable company for that period. In preparing these fmancial
statements, the trnste¢s are required to:
select suitsble accounting policies and apply them consistently;
observe the m¢thods and principles in the ChaTTrties SORP.
make judgements and estimates that are reasonabl¢ and pnLdent'
state wbether applicable accounting standard5, comprising FRS 102 have been followed. subject to any
material departures disclosed and explained in the f￿anCIal statements. and
prepare the fillancial statements on the going concern basis unless it is inappropriate to presume that the
charitable Company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at
any tin]e the financial position of the charitable company 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 charitable
company and hence for taktng reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of information to auditor
Each trustee h&s taken steps that they ought to have taken as a tn￿ee in order to make themselves aware of any
relevant audit inforniation and to establish that the charity's auditor is aware of that information. The tmstees
confllin that there is no relevant inforniation that they know of and of which they know the auditOT is unaware.
Reappointment of auditor
In accordance with section 485 of the Cornpanies Act 2006, a resolution for the re-appointment of D T Carson
& Co as auditors of th¢ charity is to be proposed at the forthcoming Annual General MeetÈng.
The annual report was approved by the trustees of the charity on 28 June 2023 and signed on its behalf by:
Ms J Chester
Company Secretary and Trustee
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