Loughview Training Services Limited
Trustees, Report
The trustees, who are directors for the purposes of company law, present the annual report together with the
financial statements of the charitable company for the year ended 31 March 2024.
Trustees and officers
The tswtees and officers serving during th¢ year and since the year end were as follows:
Trustees:
r R Finlay
Ms J Chest¢r
Mrs G McGlone
Mrs T Curran
Mr P Markey '
Mrs A Braden
Mr M Daly
Mrs L Mccafferty (appointed 28 June 2023)
Mr R Mccomb (resigned 28 June 2023)
Chairman:
Mr R Finlay
Secretary:
Ms J Chestsr
Objective5 and activities
Objects and aims
The principal activity of the charitable company is the provision of career trakning facilities. The ¢haritys aitn is
to deliver quality training and etnployment opportunities to improve employability and skills for those already
employed tE￿OUgh apprenticeships.
Objectiv￿, strategies and activities
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 employees in framework areas for both levels 2 and 3 in Retail, Team-Leading, ManagemenL Hospitality
and Catering, Warehousing, Customer Service and Business Administration over all Northern Ireland within the
remit of the DFE apprentice pro8Tamme.
Training is provided to employees on employers premises by outreach assessors. Essenttal skills training is also
provided.
Public benef
tn setting our objertiV¢5 and planning our activities for th¢ year the trustees have given careful consideration to
the Charity Commission for Northern Ireland's guidance on public benefit to ensure that the activities have
helped to achieve the charitys purpose and provide a benefit to the beneficiaries.
The direct benefits that flow from the Charitys activities are improved en]ployment and progression
opportunities for 16 24 year olds through the provision of vocational training, qualifications and up5killing
Provided by the Apprenticeship contract.
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Loughview Tramning Services Limited
Trustees, Report
Financial instruments
Objecthjes andpolici
The charitys activities expose it to a number of financial risks including Credit risk, cash flow risk and liquidity
risk.
Coshflow rtsk
The charity's activities expose it priuwily to the fmancial risks of changes in Government fi]nding and support
for training contracts.
Credit risk
The charity's prIncip￿ fll￿ncIal assets are bank balances and casm trade and other receivables. and investments.
The charity's credit risk is primarily attributable to its trade receivables. The amounts presented in the ba]ance
sheet are net of allowance5 for doubtful receivables. An allowancc for impainnent is made where there is an
identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the
cash flows.
Llquidity risk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operdtions and future
d¢velopments, the charity uses cash reserves.
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Loughview Training Services Limited
Trustees, Report
Trustees, responsibllities
The trustees (who are also the directors of Loughview Training Services Limited for the purposes of company
law) are responsible for preparing the trustees, report and the fmancial statements in accordance with applicable
law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Prdctice),
including FRS 102 "The Financkal Reporting Standard applicable in the UK and Republi¢ of Ireland"
Company law requires the trustees to prepare f￿anCIal statements for each fmancial year. Under company law
the tru5te¢s must not approve the f￿ancIal statements unless they are satisfied that they give a trne and fair view
of the state of affairs of the charltsble 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 f￿anCIal
statements, the trustees are required to:
select suitable accounting policies and apply them consistently.
observe the methods and principles in the Charities SOIV.
nlake judgements and estimates that are reasonable and prudent.
state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any
material departures disclosed and ¢xplained in the fmancial ststements" and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
clwitable company wtll continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at
any time the fll]ancial position of the charitable company and enable them to ensure that the financial ststements
omply with the Companies Act 2006and Charities Act (Northern treland) 2008. They are also responsible for
safeguarding the assets of tbe charitable company and hence for taking reasonable steps for the prevention and
det¢ction of fraud and other itTegularities.
The annual report was approved by the trustees of the charity on 20 August 2024 alld signed on its behalf by.
Ms J Ch¢ster
Company Secretary and Trustee
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