Loughview Ti'aiiiii)g Services Limited Statement of Financial Activities for the Year El ndeil 31 Imarch 2025 (Includino Income 2nd Expeiiditure Account and Statement (if Tot21 Recoullised Gaiijs and Losses) Unrestricted funds Resti'ieted funds TotAI 202) ote Ineoine and Endoiyments from: Government ants Charitable activities Investment income 215,601 26,?26 241,827 20 1,084 1,084 Total income 216,705 ?6.2?6 ?42.9 J I Expenditure on: Chaiilable activities {270,547) (26.226) (296,773) Total expenditure 1270,547) {26.226} (296.77)) Net expeiiditure (53,842} (5),84?) Net movenient in funds (53,842) Reconcili4?tioii of fuiids Total funds brou<rlil fonvard 100.9J5 100,93) Total funds carried fornvard 14 1.otal 2024 Unr&%tricted Restricted Note Income from: Govcmment orants Cliaritable activities Investiiient inccin)e 210,84J 6,508 1.183 244,5iJ 6,508 Total Inconie 218.iJ4 ?52,??4 Expenditllre on: Cliai-itable activities {245.8?9) {)J,690} {?79.519) Total Expenditure {?45.829) ()3,690) {279.i19) N¢t exp¢5)diture 127,2951 {27,295) Net inovement in f(Lnds (27,295) (27,295) Recoiieilixtion of fuiids Total fuiids brouulit forward 128,230 1 ?8,230 Total funds caiTied forward 14 100.935 100,935 All of die cliarity's activities derive from continuina operatioi)s during tlje above tivo periods. Tlie fund5 bi'eakdown is slioNm'in note 14. l-lic notes on patres 8 to 15 forni an iiitegral pait of tliese finaiscial staleinenls.
Lougliview Training Serviees Limited (Registration nuMber: IP000258) Balance Slieet as at 31 Mai'ch 202) 2025 2024 Note 'Fixed Assets Tangible assets 660 1.509 Current assets Debtors Casli at bank and in liand 10 16,261 38,098 i4,359 106.424 Creditors: Amounts f2llin4y due within oiie year 12 (7,914) (6,986) P4et current assets 46,445 99,438 Net assets 47,105 100,947 Funds of the c112rity: Unrestricted income fund5 Called up share capital Unrestri¢icd 13 100,935 TotELI unrestricted funds 47.105 LOO,947 Total funds 14 47,105 100,947 We, as directors of Louuhview Trainin<y Services Liinited, stale that-. (&) tlic cliai'itable comp&iy is availints itself of tlie excmption provided for by Cliapter 15 of Part 6 of tlie Coinpanies Aci 2014; {b) tlie cliaritable con)pany is availing itsclf of the exemption on thc g'ound.s that tiie conditions specified in sectioii 359 are Satisfied. {¢) no notice under subsection (I l of section 3)4 lias: in a¢¢ordan¢e willi sul)s¢¢tion {?) of tliat section, been seived on tlie cliaritable compaiiy. (d) Ive acknowled(re tlJe cliai'itable company's obljualions under tlie Conipanies Act 2014 to keep adequate accountints records and prepare financial statements which uivt a true and fair view of the asseis, liabilities and finJn¢ial position of ilic cliaritable cornpany at t17e eiid of its finaneial year and of its profit or loss foi- sueli a ye&., and otlierwise coniply with the provisiolls of Coiiipanies Aet 2014 relatintr to finaiicial statements so far lls they are applicable to the ch2ritable coinpany. Tl)¢ financial statements on paues 6 to li wei'¢ appiDved by the trustee5, and authorised foi. issue on 18 Noveiiibei. ?0?5 and sign¢d on tlieir belialf by- I r R Fiiilay Cliairiiian and Tiwstee Tl)e notes on paoes 8 to 15 fonii an inteui?I part of tliese fiiiaricial statements. Page 7
Loughview Trainints Services Limiteid Notes to the Finaneial Statements for tlie Year Ei nde,d 31 Mai'eh 2025 I Charity ststus The charity is liniited by share capital, incorpoi'ated in Nortliern Ireland. Tlie address of its i'euistered office is.. Twin Spires Centre Unit HF5 Howard Building Bclfast Tliese financial stareinents were autl)01-is¢d for issue by tlie tn]stees on I S Nove.mber 2025. 2 Accountin policies Summary of signifieant aceountinu policies aud Iiey aeeounting estim2t£s Tl)e priiicipal accountiii¢r policie5 applied in tli¢ preparation of these financial stateinents are set out below. Tliese policies liave been consistently applied to all the years presenfr(L unless otherwise ststed. St41tement of compliance Tlie finan¢ial statements have been prepared in accordance iviih Accountinu and Repoiting by Ciiarities.. Stateineni of Recom1ended Practice applicable to charities preparing tlieir accounts in accordance ivith the Financial Reportinty Siand2rd applicable in tlie LfK and Republic of Ireland (FRS 102} {effective l January ?015)- (Cliarities SORP (FRS 102)), and tIie Iiidustrial & Ptovideiit Societies ilct (Nl) 1969 and 1976. Basis of preparation Lougliview Training Services Liiiiited mecls tlie definition of a piiblic benefit -ntity under FRS 102. Assets and liabilities al'e initially i'ecotrni5ed at liistorical cost oi. transaction value unles4', ot])erwise ststed in tlie relcvant accountiniT
policy notes. The financial statenients have beeii prepared 01) & <toin<r concern basis a5 the Inistces Consider that there are iio nialerial ui)certainties about tlie ehai'ity's abiliry to continiie as a ooints coni.crii nor any 5itriiificant areas of uncertainty tliat affect tlie cariyints value of 2ssets held by the charity. Tlie trustees have coiisidercd botli tlie level of fi]nd5 licld and tlie expected level of incoliie and expenditure for 12 inonths from #utliorisints these finan¢ial statements, taking into consideration all relevant factors. Inconie All income is recognised oiice the ch21.ity has entitlement to the income, it is probable that tl)e incoine will be received and Ilie amouiit of the income receivable can be Ineasured reliably, Grunls receivable Grants are recoonised wlien the chai'ity has an entitleinent to the fLinds and aiiy conditions linked to tiie ordnts liave beeii iiiet. Ivliei-e performance coiiditions al'e attached to the urant and are yet to be Inet, t]ie iiicoiiie is recoviiised as a liability and included on the balance slieet as defei'red iiiconie t,) be iyleased. Page 8
Louoliview Traiiiiiig Servlces Limitei Notes to tbe Financial Statements foi. the Year Ended 31 Marcli 2025 EX1)edItI-e All expenditiire is reeognised once there is a legal or ¢onstruetive obli<Tation 'lo that experiditui-e, it is probable settleiiieiit is required and the amount be measured I'eliably. All eosL<', ar¢ allocated to the applicable expendituie Iieadino tliat aotyreuale 5iniilar costs to tliat catec¢oi'y. Myhere cosls cannot be directly attributed to pailicular lieadinJo tl)ey l)ave been allocated oli a basis consistent witli t]Je u.5?'e of resources, NITltli centi'al stsff costs allocated on tlie basis of tiine spent, and depreciation cliartre5 allocated oil tlie portion of die asset's use. Other support Costs are allocated based on tlie spi'ead of staff cogts. Clinriloble rtclivili Charitable expenditiire comprises those costs incurred by tlie cliarity in the deliveiy of its aetivilies aiid services foi. its beneficiaries. It includes both costs tliat can be allocated directly to su(;h activities and those costs of an indii'ect natui'e necessary zo support t]iein. Covei-liance costs These inc5iide the costs attributable to the cliariry's compliancc with coiistitulional and statutory requirements. includiiiu audit, s11-ate%YiC iiianaoement and tsuslees ii)¢etinTrs and reimbursed eypenses. Taxation The cliai.ity is considered to pass the tests set out in Pxrdgr2pli I Scliediile 6 of tli£ Finance Act 2010 and tliei'cfoFe it meets the definition of & ¢liaritable coinpan), foi- UK corporation tax purposes. A¢¢ordinTrly, the cliaiity is potcntially exenipt fro taxation in respect of income or capital (rains i'ec¢ived witliin cateaories covei'ed by Cliaptei- ) Part I l of tlie Corporation Act 2010 or Sectloii ?J6 of the Taxation of Charfteable Gaiiis Act 1992, to the extent that such inconie OF.trains are applied exelusivelj, lo eharitable purposes. Tangible fixed assets Individual fixed assets ZIE initially recorded al eost. less any subsequer..t aeciiniulated depreciation and subseqiieiit accLimul<1ted impairment losses. Depreciation aiid amortisation Depi'ecialion is provided on tangible fixed assets so as to write off tlie cost or valuatioii, less any cstimated I'esidual value. over their &xpectcd us¢ful econoinic life as follows- Asset clASS Fixtui-es, fittinTrs and equipment Depi'eciition metliod and I'Ate ?OQ/D Straiglit line Ti'ade debtors Ti?de debtors al'e amounts due from customers for mercl)andise sold or servires perfoi'tned in tlie ordiiiary course of busitiess. I'rnde debtoi3 are reco(rnised initially at the trnnsaclion price. They are sul)sequently nieasiii-ed at cost less provision for iiiipairment." A provision for the impairment of tt2de debtors is establisli¢d wlien diere is objective evidence tliat tlie cliarity will not be able ro collect all amounts due according io die orioinal tei'ins of tlie re¢eivables. Cash and ea511 equivalents Casli and casli equivalerts comprise casli on l)aiid and Call deposits, and otliei. sliort.terim liitslily liquid inveslnients IlTrat al-e Teadily convertible to a kni0 arnount of cash and are subjecc to an iiisignificant risk of cliaiige in value. Page 9
Loughview Trainiiig Seiwiees Limited Notes to the Financial Statements for the Year Ended 31 arch 2025 Trade credltors Trade creditors are obliuatioiis to pay foi. Doods oi. services tl)at have been acquired in the ordinary course of biisiness fi'oim suppliei's. Accounts payable are classified as current liabilitie5 if the charity does iiot have an uncoiiditioiial rialii at tlie end of tlie i-eportino period. to defer settlenient of tlie ¢reditor for at Icast rw¢lv¢ iiiondis after tlie reporEinu date. If tliere is an unconditioi)al I'juht to defer settleinent for at least tsvelve iiiontl)s aftei. tlie rep.oi.tiiig date. tliey al'e presented as non-curreiit liabililies. Ti'ade creditors Al-e I'ecoonised initially at the transaction piice artd subsequpntly measiii'ed at anioitised c05t usino the effective iiitei'est Inctliod. Fund structure Unresb'icted ineoiiie funds are general funds that ar¢ available for uge at the trustees discretioii iii rI1]e1.8nCe of tl)e objectives of t]ic cliarity. Designat¢d funds are unrestricted fuF)ds earmarked by tl)e tiwstees for particular puiyoses. Restricted funds al-e to bc used for specific piirposes as laid down by the donor. Expenditure i¥hi¢h meets tliese criteria is cli&r(yed to tlie fund, torretlier ivitli a fair allocatioii of manauement 2]id support Costs. Pensions and othei- post retirement obligations Tlie charity, opcrates a defined contribLltion penston sclieine whicl) is a pensioii plan und¢r ivliicli fixed contributi0115 are paid snto a pension fund #lid the cliai'ity lias no legal or constructive oblitsation to pay fui'iliei. conlributlolls exieii if tlie fund does not liold sufficicnt a55ets to pay all einplov¢¢s the benefits relating to eniployee scrvice iii tlie current and prior periods. Coiitributions to defiiied contribution plans are recorT¥Tised in tlie Statemcnt of Financial Activities wl?en tlie). are diie. If coiitribution paynients exceed tlie contribution due for service, tlie excess is reco]1$ed as a prepayiiient. Eneome froin charitable 2eÉii'ities Unrestricted fuiids Genei-al RestrÉcted funds Totsl 2025 Totsl 2024 Governnient training orants Otiier Iiicoiiie 215,601 20 26.?26 944,5J) 6.508 20 215,6?1 26,226 241.847 251,041 3 Investiiient income Uni'estricted funds General Total 2025 Total 2024 Interest receivable and siniilar income- Interest I'eceivable on baiik deposits 1.084 1,084 Paoelo
Loughview Training Services Limited Notes to tlie Finantial Statements foi" tlie Year Ended 31 March 2025 4 Expenditure on'eharitable activities Unresti-ieted fiiiids Genei'al Resti-ieted fuiids Total 202) Total 2024 Eniploynient costs Industry Trainino boiius Tuition costs E¥aininatioi) and registration fees St2ff travel, coi)f¢i'ences RcT]t and rates Heat litrht and power Insur2nce Repaiis Telephone Postaoe stationery 2nd advertisinu FTospitslity Suiidi'y expciises Baiik charges Depreciation 182.00? 182,00? 26,226 40,664 5.617 12.955 4.680 166,918 33,690 27,826 26,226 40,664 5,617 12,955 4,680 1.529 2.980 4.160 4.472 1,818 156 3,685 500 849 14,0?2 4,680 ?,980 4,160 4,472 1,818 156 3.685 500 849 2,86? 4.734 4.506 1,510 280 458 849 266,067 292,293 ?75,173 In addition to tlie expenditui"e analysed abovc, tliere are also oovernance costs of £4.480 12024 - £4,J46) which relate dirccily to cliaritxble activities. See iJote 5 foi. furtlier det2ils. 5 AiJalysT$ of uovernance 2nd support eosts Govei'iiance costs Uni'estricted Total 2025 Total 2024 Genei'xl Indepeiident exaiiiin¢L- fe¢s Exaininatioii of the finan¢ial starein¢nts Lco81 and professioiial fecs 2.372 2.108 2,108 2,108 4,480 4,480 Page 11
Lou*7hview Ti'ainin(v Services Limited Notes to the Financlal Statements for the Year Ended 31 March 2025 6 StAff costs Tlie aggreoate payroll costs were as follows: 2025 2024 Staff costs dul'ln the year wei'e: Wages and salai-ies Social security costs Peiisioi) costs Otlier staff Costs 164,604 8.214 8,729 455 149,427 6.0?6 18?,00? 166,918 Tlie nionthly average number of persons {including senioi. managenient I lettdeiship team) employed by the cl)arity dlirintr tlie yeai. expressed as full time equivalents was as follows.. 2025 2024 Administration and Irainints No employee r£¢eived emOlU7¢nts of iiiore tlian £60.000 durinu tlie year. 7 Independent examinei's i'emuThei'xtion 2025 2024 Ex-amination of tlie financial stateiiients 8 Taxation The ¢harity is a Fegist¢r¢d charity and is tlierefore exenipt from tsxation. Paoe l?
Louuhview Tr2inin(s Services Limited Notes to the Financial Statements for tlie Year Ended 31 March 2025 9 Taugible fixed assets Fixtures, rittinas And equipment Total Cost At l April 2024 At J l March 2025 21,142 21,147 ?1,142 Depreet2tion At l April 20?4 Cliar(Fe for tlie year 19,633 849 849 Ai ) l NIarcli 2095 20,48? 20,48? Net book value AtJ l Mairh 2025 660 660 At ) l Marcli ?024 1.509 1,509 10 Debtors 202) 2024 Trade debtors Prepayiiients Otlier debtois 1,956 9013 900 16,?61 I I Cxsh and CAsh £quivalents 202) 2024 Cash on hand Cash at baiik 76 71,311 12 Ci'editoiB: Amouuts fxllii)u due within one year 2025 2024 . A¢¢i'uals 7,914 6,986 Page l)
Lougliview Training Servyces Limited Notes to the Financial Statements for tlie Year E4 nded 31 Marcl) 2025 13 Share e2Pitg1 Allotted, Called up and fully paid sli2res 2025 2024 Ordinary Shares of £1 each 12 12 12 12 14 Funds B218nce.qt I April 2024 Iiiconiin resoui-ceg Resourcts e.ipeiEded Balance at JI Marclk 202) Unrestricted funds General 100,9J5 216.705 (?70,547) (26.226 47.093 Restricted funds 26,226 TotAI funds 100,935 242,9)] (296,773) Balance at I April 2023 Incomintr resoui'cts Resources eipended BAlallce at 31 March 2024 Uni-tstricted funds Generdl 128 ?JO -218.5J4 (245.8?9) 100.9J5 Restricted funds (33,690) TotAI funds ?59,224 (?79,)19) 100,9J5 15 An4ilysis of net assets between funds ['InJ'estricted funds Cenei'AI Totsl funds #t 31 Iwlarcli 2025 TanrNible fixed assets Curr¢nt assets Curi'eiit li2bilities 660 660 (7,914) (7,914) Total net assets 47,105 47,105 Patre 14
Loughview Traijiing Services Limited Notes to the FAnancial Statements for tlie Year Ended 31 March 2025 16 RelAted paity transactions Ti'ustee5 Tlie eliarity is controlled by Ihe tn]stees iyho are all directors of the comp2ny. Two trustees i-e¢eived rei)iiinei?tioA durino dle year by virtLie of theii- einployment with the company. Page 15