Lougbview Training Services Limited
Statement of Financxal Activities for the Year Ended 31 March 2024
(Including IDcome and Expenditure Account and Statement of Total Recognised Gains
and Losses)
Unrestricted
funds
Restricted
funds
Total
2024
Note
Income and Endowments from:
Government grants
Charttable activities
Investtnent income
210,843
6,508
1,183
33,690
244,533
6,508
1,183
33,690
252.224
Total income
218,534
Expenditure on:
Charitable activities
(245,829)
(245,829)
(27,295
(33.690)
(33,690)
(279,519)
(279,519)
(27,295
(27,295)
Total expenditure
Net expenditure
Net movement in fi￿aS
RecoDcili8tion of funds
Total ￿ndS brought fon¥ard
Total fimds carried fonvard
(27,295)
128,230
128,230
100,935
100,935
Totsl
2023
14
Unrestrieted
Restrieted
Note
Income from:
Governtnent grants
Charitable activities
Investsnent income
218,730
795
386
27,062
245,792
795
386
219,911
27,062
246,973
Total Income
Expenditure on:
Charitable activities
27,062)
(338,657)
(338,657)
(91,684
(311,595)
(311,595)
(91,684)
Total Expendilure
Net expenditure
Net movement in funds
Reconciliation of funds
Totsl funds brought fonvard
Total fimds CWTied forward
(27,062)
(91,684)
(91.684)
219,914
219,914
128,230
14
128,230
All of the charity's activities derive from continuing operations during the above two periods.
The fund5 breakdown is shown in note 14.
The notes on pages 8 to 15 forn an integral part of these financial statements.
Page 6

Loughview Training Services Limited
(RegistratlOD nujnber: IP000258)
Balance Sheet as at 31 March 2024
2024
2023
Note
Fixed assets
Tangible assets
1,509
2,358
Current assets
DebtOTS
Cash at bank and in hand
io
35,113
71,311
47,185
87,183
106,424
134,368
Creditors: Amounts falling dlle within one year
12
(6.986)
(8,484)
Net current assets
99.438
125,884
Net assets
100,947
128,242
Funds of the eharity:
Unre5trieted income funds
Called up share capital
Unrestricted
13
12
100,935
12
128.230
Total uurestricted funds
100,947
128,242
Total funds
14
100,947
128,242
We, as directors of Loughview Training Services Limited, state that:
(a) th¢ charitable company is availing itself of the exemption provided for by Chapter 15 of Part 6 of the
Companics Act 2014.
(b) the charitable company is availing itself of the exemptRon on the grounds that the conditions specified in
Section 359 are satisfi¢d.
(c) no notice und¢r subsection (l) of section 334 has. in accordance with subsection (2) of that section, been
5eTved on the charitable company"
(d) we acknowledge the charitable company's obligations under the Companies Act 2014 to keep adequate
accounting records and prepare financial statements which give a true and fair view of the assets, liabilRties and
fmancial position of the charitable company at the end of its financial year and of its profit or loss for such a
year, and otherwise comply with the provisions of Companies Act 2014 relating to fmancial statements so far as
they are applicable to the charitable company.
The financial statements on pages 6 to 15 were approved by the trustees, and authorised for issue on 20 August
2024 and signed on their behalf by:
Mr R Finlay
Chainnan and Trustee
Th¢ notes on pages 8 to 15 form an integral part of these fmancial statements.
Page 7

Loughview Training Services Limited
Notes to the Financial Statements for the Year Ended 31 Marcb 2024
I Charity status
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 financial statements were authorised for issue by the trustees on 20 August 2024.
2 Aecounting policies
Summary of significant accounting policies and key ac¢ounting estimat
The principal accounting policies applied in the prepardtion of these financial statements are set out below.
These policies have been consistently applied to the years presente(L unIess othenvise stated.
Statement of eompliance
The fmancial statements have been prepared in accordance with Accounting and Reporting by Charities:
Statement of Recommended Practice applicable to Ch￿ItIeS preparing their accounts in accordance with the
Financial Reporting Staudard applicable in the UK and R¢pubEic of Ireland (FRS 102) (effective l January
2015) - (Charities SORP (FRS 102)), and the Industrial & Provident Societies Act (NI) 1969 and 1976.
Basis of preparation
Loughview TraiDing Services Limited meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historicaI cost or transaction value unless otherniise stated in the relevant
accounting policy notss.
Going concern
The financial statements have been prepared on a going concern basis as the trustees consider that there are no
material uncertaintie5 about the charitys ability to continue as a going concern nor any significant areas of
uncertainty that affect the carrying value of assets held by th¢ charity. The trustees have considered both the
level of funds held and the expected lev¢1 of income and expenditure for 12 months from authorising these
financial statements, taking into CODsiderdtion all relewant factors.
Income
All income is reCo￿lS¢d once the charity has entitlement to the income. it is probable that the income will be
received and the amount of the income receivable can be measured reliably.
Grants receivable
Grants are recognised when the charity has an entitlement to the fund5 and any conditions linked to the grdnts
have been met. Where perfonnance 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 deferred income to be r¢l¢ased.
Page 8

Loughvieiv Training Services Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
Expenditure
All expenditure is recognised once there is a legal or constrnctive obligation to that expenditrjre, it is probable
settlement is required and the amount can be measured reliably. All costs are a]located to the applicable
eXpenditt￿e 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 stsff
costs 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 spread of staff costs.
Charilable activliles
Charitable expenditure comprises those costs incU￿ed by the charity in the delivery of its activities and services
for its beneficiaries. It includes both costs thaty can be allocated directly to such activities and those costs of an
Indi￿¢t nature necessary to support them.
Governance costs
These include the costs atiributable to the charity's compliance with constitutional and statutory requirements,
including audil strategic management and trustees meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and
therefore it meets the d¢finition of a charitable company for UK corpordtion tax purposes. Accordingly, the
charity is potentially exempt from taxation in respect of income or capital gains received within categories
covered by Chapter 3 Part I l of the Corpordtion Tax Act 2010 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.
TangibIe fixed asset5
Individual fixed assets are initially recorded at cosL less any subsequent accumulated depreciation and
subsequent accumulated impairnient losses.
Depreeiation and amortisation
Depreciation is provided on tangible fixed assets so as to Mryite off the cost or valuation, less any estimated
Tesidllal value, over their expected useful economic life as follows".
Asset class
Fixtures. fittings and equipment
Depreciation method and rate
200/0 straight line
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services perfornied in the ordinary
course of busine55.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at cost less
provision for impairnlent. A provision for the impairn]ent of trade debtors is established when there is objective
evidence that the charity will not b¢ able to collect all amounts due according to the origina] tenns of the
recetvables.
Cash and cash equivalents
Cash and cash equivalents compTÈse cash on hand and call deposits, and other short-term highly liquid
tnvesiments that are readily convcrtible to a known amount of cash and are subject to an insignificant risk of
change in value.
Page 9

Loughview Training Services Limited
Notes to tbe Financial Statements for the Year Ended 31 March 2024
Trade creditors
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 current liabilities if the charity does not have an
unconditional righL at the end of the reporting period, to defer settlement of the creditor for at le&st twelve
months after the reporting dat¢. If there is an unconditional right to defer settlement for at le&st twelve months
after the reporting date, they are presented as non-cll￿nt liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost
usyng the effective interest method.
Fund structure
Unrestricted income funds are general fl￿dS that are available for us¢ at the trustees discretion in firtberance of
the objectives of the charity.
Designated fimds are unrestricted fimds earniark¢d by th¢ trustees for particular pU￿oses.
Restricted fimds are to be used for specific purposes as laid down by the donor. Expenditure which meets these
criteria is ch￿ged to the fund, together with a fair allocation of management and support costs.
Pension5 and other post retirement oblig2tions
Tbe Charity operates a defmed contribution pension scheme which is a pension plan under which fixed
contributions are paid into a pension fund and the charity has legal or constructive obligation to pay fjjrther
contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to
employee service in the Current and prior periods.
Contributions to defined contributioJJ plans are reco￿lSed in tbe Statement of Financial Activities when they are
due. If colltribution pay￿entS exceed the Contribution due for service, the excess is recognised as a prepayment.
Incomc from charitable activities
Unrestricted
funds
General
Restricted
funds
Total
2024
Totsl
2023
Government training grants
Other Income
210.843
6,508
33,690
244,533
6,508
245,792
795
217.351
33,690
251,041
246,587
3 Investment income
Unrestricted
funds
General
Total
2024
Total
2023
Interest receivabl¢ arAd simÈlar income.
Interest receivable on bank deposits
1,183
1,183
386
Page 10

Lougbview Training Services Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
4 Expenditure on eh2rfitable activities
Unrestricted
funds
General
Restrieted
runds
Total
2024
Totsl
2023
Employment costs
lThdusty Training bonus
TuRtion costs
Examination and registration fees
Staff travel, conferences
Rent and rates
Heat light and power
Insurance
RepaiTS
Telephone
Postage stationery and advertising
Hospitality
Sundry expenses
Bank charge5
Depreciation
166,918
166,918
33,690
27.826
6,822
14,022
4,680
1,633
2,862
4,734
4,506
1,510
280
4.383
458
849
233,511
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
33,690
27,826
6,822
14,022
4,680
1,633
2.862
4,734
4.506
1,510
280
4.383
458
849
241.483
33.690
275,173
334.367
In addition to the expenditure analysed above, there are also governance costs of £4,346 (2023 - £4,290) which
relate directly to charitable activities. See note 5 for further detsils.
S Analysis of governance and support ¢osts
Governance costs
Unrestricted
Tot21
2024
Total
2023
General
Independent examiner fees
Examination of the financial statements
Legal and professional fees
2.238
2,108
2,238
2.108
2,112
2,178
4,346
4,346
4,290
Pagell

Lollghview Training Services Limited
Notes to tbe Financial StatemeDts for the Year Ended 31 March 2024
6 Staff eosts
The awegate payroll costs were as follows:
2024
2023
Staff costs during the year were:
Wages and salaTies
Social security costs
Pension costs
Other staff costs
149,427
6,026
9,626
1,839
166,918
209,817
10,567
11,097
2,030
233,511
The monthly averdge number of persons (including senior managernent I leadership team) employed by the
charity during the year expressed &s full time equivalents was as follows:
2024
No
2023
Administration and training
No employee received emoluments of more than £60,000 during the year.
7 Independent examiner's remuneration
2024
2023
Examination of the fllwicial statements
2,238
2,112
8 Taxatio
The charity is a registered charity and is therefore exempt from taxation.
Page 12

Lougbview Training Services Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
9 Tangible fixed assets
Fixtures,
rittings and
equipment
Totsl
Cost
At l April 2023
21,142
21,142
At 31 March 2024
21,142
21,142
Depreciation
At l April 2023
Charge for the year
At 31 March 2024
18.784
849
18,784
849
19,633
19,633
Net book value
At 31 March 2024
1,509
1.509
At 31 March 2023
2.358
2,358
IO Debtors
2024
2023
Trade debtors
Prepayments
Other debtors
32.341
1,872
900
44,491
1,794
900
35,113
47,185
JI Cash and cash equivalents
2024
2023
Cash on hand
Cash at bank
76
71,235
61
87,122
71.311
87,183
12 Creditors: amounts falling due within one year
2024
2023
A¢¢n￿lS
6,986
8,484
Page 13

Loughview Training Services Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
13 Share capital
Allotted, called up and fully paid shares
2024
2023
Ordinary Shares of £1 each
12
12
12
12
14 Funds
B21anee at I
April 2023
Incoming
resources
Resources
expended
B21aTh¢e at 31
March 2024
Unrestrscted funds
General
128,230
218,534
(245,829)
(33,690)
(- (279,519
100,935
Restricted funds
33,690
Total funds
128,230
252.224
100.935
Balallce at I
April 2022
Incoming
resources
R¢sour¢&s
expended
Balance at 31
March 2023
Unrestricted funds
General
219,914
219,911
(311,595)
(27,062)
128,230
Restricted funds
27,062
128,230
Total funds
219,914
246,973
(338,657)
15 Analysis of net assets between funds
Unrestricted
funds
General
Totsl funds at
31 M2rch
2024
Tangible fixed assets
Current assets
Current liabilities
1,509
106,424
6,986)
1,509
106,424
6,986)
Total net assets
100,947
100,947
Page 14

Loughview Training Services Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
16 Related party transactions
Trustees
The charity is controlled by the trustees who are all diTectors of the company.
Two trustees received remuneration during the year by virtue of their employment with the company.
Page 15