Company reglslrallon number: N1041855 Charlty registrallon number: 106275 Lough Neagh Partnership Limited Company limited by guarantee Flnanclal stalemenis 31 March 2024
Lough Neagh Partnershlp Llmitod Company Ilmitod by guaranlee Contents Pago Trustees/ Directors and other information Trustees report (incorporating Dlrectors Report) 2-12 Independent examiners report 13 Statemerrt of financial activity 14 Statement of financial position 15 Statement of cash flows 16 Notes to the financial statements 17-25
Lough Neagh Partnershlp Llmited Company Ilmlted by guarantee Dlrectors and other Information Trusieesl Dlrectors Mrs Mary Veronica Devlln The Honourable Shane Sebastian Clanaboy O'Neill Mr Conor Jordan Ald Arnold Hatch Cllr Derek McKinney Mr Conor Corr Cllr Henry Cushinan Ms Una Johnston Mrs Elizabeth Meharg Mr Drew Nelson Cllr lan Milne Cllr Donal McPeake Cllr Paul McLean Cllr Thomas Gordon (Appointed 3118123) Cllr Paul Dunlop Cllr Roisin Lynch Mr Joe Nelson Mr Gary McErlain Mr Leo Cassidy (Appointed 1015123) Cllr Densie Johnston (Appointed 41101231 Cllr Eimear Carney {Appointed 1916123) Ms Kathleen McBride (Appointed 4110123) Cllr Stewart Wilson (Appointed 4110123) Ald Jay Burbank (Appointed 4110123) Secretary Mary Veronica Devlin Company number N1041855 Reglstered office 135a Shore Road Ballyronan Magherafelt Business address Unit 3 The Marina Centre 135a Shore Road Ballyronan Magherafelt BT45 Ind Examiner Jonathan Ross 44 Blackisland Road Portadown BT62 1 NE Accountants JSR 44 Blackisland Road Portadown BT62 1NE Bankers Bank of Ireland Market Street Magherafelt BT45 6EE
Lough Neagh Partnershlp Limitad Company Ilmlted by guarantee Trustees Report {Incorporatlng the Directors report) Year ended 31 March 2024 The trustees, who are also directors for the purposes of company law. present their report and the financial statements of the charity for the year ended 31 March 2024. Trusteesl Dlrectors The trusteesl directors who seNed the company during the year were as follows-. Mrs Mary Veronica Devlin Mr Conor Jordan Cllr Derek McKinney Cllr Henry Cushinan Mrs Elizabeth Meharg Mr Rory O'Kane {reslgned 1015123) Cllr Donal McPeake Mr Martin Kearney {resigned 116123) Cllr Thomas Gordon (appointed 31181231 Ald JIM Montgomery (resigned 116123) Mr Paul Quinn (resigned 1419123) Mr Joe Nelson Mr Leo Cassidy (appointed 1015123) Ms Kathleen McBride {appointed 4110123) Ald Jay Burbank {appolnted 4110123) The Honourable Shane Sebastian Clanaboy O'NeS11 Ald Arnold Hatch Mr Conor Corr Ms Una Johnston Mr Drew Nelson Cllr lan Milne Cllr Paul McLean Cllr Eimear Carney (appointed 19161231 Cllr Paul Dunlop Cllr Roisin Lynch Cllr Andrew McAuley (appointed 1161221 (resigned 116123) Mr Gary McErlain Cllr Densie Johnston (appointed 4110123) Cllr Stewart Wilson {appointed 4110123) Structure, governanca and management Lough Neagh Partnership Limited, which is a registered charty wth Charity Commission for Northern Ireland under registration number 106275, was incorporated as a company limited by guarantee in Northern Ireland on 2nd November 2001 under registration number N1041855. The company is registered with Charily Commission for Northem Ireland under the name Lough Neagh Partnership Limited, it does nol operate under any other names. The charity's principal office address is also the registered office address of the company. Structure of Organlsallon: The Board of Directors meets every 2 months and is responsible for the development of Policy and Strategy and management of strategic outcomes and achievements. Four directors are also part of a Financial sub-committee which meets before the Board meetings to ensure the financial management of the body. Governance The governing document is the Articles of Association of Lough Neagh Partnership Ltd and Lough Neagh Partnership is governed by the Board and the terms of its membership are set out as per the Articles of Association Recrultment of Trusieos Trustees are proposed and elected at an annual AGM and nominations are confirmed at the first Board meeting after the AGM. The company is registered with Charily Commission for Northern Ireland under the name Lough Neagh Partnership Limited, il does not operate under any other names. The charity's principal office address is also the registered office address of the company.
Lough Neagh Partnershlp Llmitéd Company Ilmlted by guarantee TNstees Report (Incorporallng the Dlrectors report) Year ended 31 March 2024 obCtIveS and Activitles The company was formed with the objectlve of brlnging together the local communlly. businesses. schools, residents etc. to work in partnership to ensure that this area of natural beauty and important ecological environmental and social beneff( to Northem Ireland as a whole will be safeguarded, protected and managed in a sustainable way. The specrfic charitable objectives of the organisation are detailed in the LNP articles of Association are below The Charily's objects ("Objects") are: {11 The promotion of rural regeneration and communty development for the benefit of the inhabitants of the Lough Neagh Wetlands region (the "area of benefit.). users of Lough Neagh and its environs and visitors to the area in the interests of social and economic welfare by all or any of the following means.- (a) the provision or assistance in the provision of recreational facilities in the interests of sociai welfare for the public at large and those who, by reasons of their youth, age. disability. or sociai or economic circumstan$ have need of such facilities. (b) advancing sustainable development for the public benefit by the promotion of sustainable means of achievlng economic growth and regeneration, in particular by promoting tourism and opportunities for cuttural and recreational activities for all age groups. (c) fostering a sense of community by encouraging and celebrating a sense of place, civic pride and an appreciation of the scenic beauty and heritage of the area" (d) the maintenance. improvement. or provlsion of amenities for the benefit of the public and vlsitors to the area. (2) The conservation. protection, restoration and improvement of the physical and natural environment of the area of benefit by all or any of the following means: (a) managing land, the bed and soil of parts of the Lough, and facilitating the availabilty and safeguarding assets for the benefit of the community- (b) rryIng out a co-ordination and networking role with other agencies and interested parties within the community, public and private sectors that are involved in rurai regeneration, the protection of the environment, cultural and heritage activrties. tourism and scientific research; {c) promoting awareness. understanding and appreciation among the public of the natural. built and cultural heritage of the area of benefit and the ecosystem value of nature and the Wetlands region to humanity-, {d) promoting sustainable development, developing and implementing conservation management plans and advising on. applying and extending good practice. Activilies. meeting objectives public benefil Beneficiaries of the activities are: Local communities and people who live by the shores ot the Lough and enjoy its natural heritage and recreational facilities Visitors to the Lough and the surrounding area. People who work on the Lough or around its shoreline. Local businesses who provide local investment and economic development opportunities. Local Councils and government departments who work in partnership with the Lough Neagh Partnership to protect the heritage of Lough Neagh Local schools who link with the work of the Partnership and improve awareness and knowledge of local children of the issues associaled with the Lough.
Lough Neagh Partnershlp Llmlted Company Ilmlted by guarantee Tru8lees Roport (Incorporatlng the Dlrectors report) Year ended 31 March 2024 Summary of Charltable Activltles for thè purposes of Publlc Beneflt The board members have had regard to the Public Benefit requirement as stipulated by Charfty Commission for Northern Ireland. The activities entered into. and achievements attained during the year ended 31 st March 2024 have bn wide and varied and have provided huge public benefit. as can been seen in the information noted below: Projects for Further DeveloDment Charitable Objective: The promotion of rural regeneration and community development for the benefit of the inhabitants of the Louoh Neaoh Wetlands r ion Marketing and Lough Neagh Partnership regularly promotion of Lough share content across Facebook. Distribution of Lough Instagram and on their website and Neagh newsletter for email marketing tor the businesses from stakeholders and the Lough area. These include profiles consumers online, with reference to the Artisan Market social media pages and campaigns. events they are promotion and attend involved with and news stories as well and promote at trade as PR photTrJraphs used to advertise fairs and exhibitions. the markets. These members have also been supplied with digital marketing toolkits to help support their marketing efforts in relation to the markets. The market also featured boat trips with River Bann Tours and Lough Neagh's Stories from Toome to Lough Beg. Progress since last year Progress since last year LNP attended the consultation for the len-year Tourism Strategy for Nl and provided feedback. Newsletters issued in Halloween and Christmas. LNP Participated in World Travel Market and ITOA. lollowing up with a PortFolio of key experiences including River Bann Tours. Tyrone Crafted Glass, Rosehill House, Coyle's Cottage Lough Neagh's Storles, Glenshane Country Farm. Seamus Heaney Homeplace, Bakehouse Nl, Ballyscullion Park, Katies Cottage and the Lough Neagh Flsheries Exhibition. Lough Neagh Tours attended Meet the Buyer and followed up by sending a tour portfolio of key experiences from the area along with a list of hotels Further to a fam visit conducted last year, bookings have now been secured with an international tour operator. LNP has developed a bespoke bird tour itinerary to include River Bann Tours trip from Ballyronan to Lough Beg - this itinerary was developed at the request of the operator. Two bookings with forty-six guests have now been secure for MaylJune 2024 with a view to more after successful completion of Ihese trips. Newletters issued to monthly April - September. Lough Neagh Tours Facebook 9,600 followers Instagram 1.073 followers X311 Lough Neagh Artisans Facebook 2.500 followers Instagram 2.431 followers X 121 followers Lough Neagh Partnershlp Facebook 5,1 Oofollowers Twitter 1,083 followers Linkedln 399 followers
Lough Neagh Partnership Limited Company limited by guarantee Trustees Report (Incorporallng the Dlrectors report) Year ended 31 March 2024 Mailchlmp Stakeholder list 833 subscribers Artisan traders 176 subscribers Tourism list 476 subscribers Mailing list Tour operator contacts- 325 Charitable Objective . The promotion of rural regeneration and community development for the benefit of the inhabitants of the Lou hNea h Wetlands r ion Develop a Lough Held two successful Artisan Food Neagh Artisan Food Markets on 21st May & 30th July 2023 at Programme, the Lock Keepers Cottage in Toome identifying artisan including several traders from MUDC event opportunities area. and promotion of them. The markel scheduled for 10th September had to be cancelled due to the blue-green algae in the Lower Bann River. The group offers members networking and collaboralion opportunities and mentoring, as well as the regular markets at the Lock Keepers Cottage in Toome. As part of the market activities, boat trips are provided by River Bann Tours & Lough Neagh's Stories from Toome to Lough Beg. The Lough Neagh Artisans are hoping to avail of further funding to develop the group and are consulting with DAERA to shape phase two of the project, this is anticipated to be open from mid-2025. Charitable Objective . The promotion of rural regeneration and community development for the benefit of the inhabitants of the Lou hNea h Wetlands re ion Joint development of Lobbied both ABC AND MUDC to tourism and examine development of the Blackwater economic and dredging of Canal mouth of programmes with Blackwater. Councils and Partners and, assist with access and recreational plans for school lands Derrytresk, and Traad PoinUBallyronan and Lough Promotlon. Meel with Senior staff regarding the development of Tradd Point Also met with Outscape and attended consuiiaiion event regarding Tra(1 Point. Mei with ABC regarding tourism development of Blackwaier River Met with John Mc Grlllen TNI CEO to discuss wider Lough neagh promotion in light if Blue Green Algae. Prepared major proposal for School lands Charitable Objective The promotion of rural regeneration and community development for the benefit of the inhabitants of the Lou hNea h Wetlands re ion Development of Met wilh DFI on Mo occasions. Blackwater River, Met with Blackwater group providing technical advice associated with dred in and Mel with DFI staff to discuss Lough and Blackwater navigation needs. Focus for LNP is dredging the opening of Canal mouth
Lough Neagh Partnershlp Llmlted Company limlted by guarantee Truslees Roport {Incorporatlng the Directors report) Year ended 31 March 2024 development of the whole of the Lough and ownership models Lobbied all parties regarding a new interdepartmental structure and investment for Lough Neagh Followed up letter to Minister O Dowd regarding setting up of an interdepartmental body Met with all party leaders to promote new structures and investment for Lough Neagh in 2024 Applied for and gained £240,000 of grant assistance from the Nalional Lottery Heritage Fund for new resilience plan and ownership analysis, need £6,666 malch funding from three main Councils including MUDC. Charitable Objective .'The conservation. protection. restoration and improvement of the physical and natural environment of the area of benefit b all. Continue to develop Management Plan for lfjllycolpy NIEA Shoreline Plan complete and securing funding for a managemenl plan for Killycolpy and Killywoolaghan, community bird hides as per 2021122. develop wet woodland and dimate change strategy for Western Shores taking into consideration Councils and Partners's climate change and biodiversty plans. Implement recommendations for Lough Neagh islands and ASSI plan. All work in Kilykoly complete and cattle to be placed there this year to improve land Wet woodland study and Climate Change and Cartjon study now completed Approx £70,000 of funding gained from NIEA for consultation on new SPA and ASSI plan for Lough Neagh Transfer of Kilycolpy nature reserve and School lands signed for and completed SEUPB nature peatlands restoration project prepared with FISPB New major Catchment Pollution proposal being developed along with a new communications plan working in partnership with NIEA and DAERA Islands conservation work and all bird monitoring continuing via new boat. Dealt with media response to Blue Green Algae. Major PR engagement regarding blue green algae Public meetings with NIEA held including presentation at public meetings Charitable Objective :The conservation. protection, restoration and improvement of the physical and natural environment of the area of benefil b all. Continue to develop Environmental Farm Scheme Project and deliver an has been exlended from 1 April- 31 Environmental Farm December 2026. This locuses on lands Scheme on western along the western shore of lough shores of Lough Neagh. Neagh by attracting A major Nature Recovery Network has new funding and been developed at School Lands and at through engagement KillycolpylKillywoolihan. Focusing on with farmers, managing biodiversity and water quality landowners, and improvements. relevant stakeholders New pilot project pitched to DAERA to replicate outcomes approach like whal DAERAS new Farm Nature Policy 2026. DAERA still considering outcomes payments for environmental programme for farmers along the shorgs of Lough. Main beneficiary will be in Mid Ulster area Lough Neagh EFS Group Scheme Members 150+ receiving su ort and mentorin on Grou
Lough Neagh Partnershlp Llmlted Company Ilmlted by guarantee Trustees Report (Incorporating the Directors report) Year ended 31 March 2024 to improve conditions. Assist Councils and Partners in development of an Agricultural Strategy. 143 Group Scheme members continue to recelve mentoring and support. £17,500 average investment per farm over last 6 years. New policy engagement with DAERA Countryside Management helping c design for new Farming with Nature Policy. Offer open for help with the development of new agricultural biodiversity and climate change strategies in new 5-year SLA from Mar 2024- Mar 2029 Scheme management. Total Investment brought into Lough via EFS Scheme £4,800,00+ over 6 years, out of £7.6 million offered. New entrants Offer open for help with the development of new agricultural biodiversty and climate change strategies in new 5-year SLA from Mar 2024- Mar 2029 entering again in 2024 Covid underspend reaiocated to project providing Climate Resilience Plans for farmers plus a series of information leaflets covering a wide range of environmental projects approx. Extension to EFS Group Scheme awarded providing additional £255,000 from April 2023 - Dec 2026. Charitable Objective .'The conseNation, protection, restoration and improvement of the physical and natural environment of the area of benefst b all. Develop funding Discussions held with RSPB regarding applications and SEUPB peatland and Nature recovery attract investment proposals for Lough Neagh continued. from SEUPB NIEA DAERA for new environmental programmes £1.2 million submitted to RSPB and SEUPB for restoration for peatlands at School Lands Met with NIEA regarding water qualty issues and blue green algae and workable solutions for 2024 Approx £500,000 Solutions to Pollution pilot proposal submitted to NIEA to monitor pollution throughout whole catchment of Lough neagh working in partnership with Rivers Trust and Ballinderry River Enhancement Group. Approx £80,000 communications plan for dealing with Blue Green Algae fall out in 2024125 submitted to NIEA Charitable Objective . The promotion of rural regeneration and communty development for the benefit of the inhabitants of the Lou hNea h Wetlands r ion Develop an Meeting and presentation made to all Interdepartmental paty leaders and group Committee for Lough Neagh and examine funding opportunities for technical developments of Lough Neagh ownership bid. Met with HLF to sign of proposal Meeting with Shaftesbury Estates again Lobbied all groups and MLAS to set up new interdepartmental structure for Lough throughout 6-month period Did presentation to all relevant MLAS in Stormont in Dec 2023 £240.000 grant achieved for new heritage resilience plan and ownership of Lough Neagh examination Attended Stormont Lough Neagh debate and lobbied MLAS Met Minister Muir and senior NIEA staff to discuss new structures and investment for the Lou
Lough N•agh Partnershlp Llmlled Company Ilmlted by guarantee Trusiees Report {Incorporatlng the Dlrectors report) Year ended 31 March 2024 How have Ihesa activities provlded a benefit and what dlfference have they mada sinco March 2022) Strateglc Goal Achievement and strategic benefits from the LNP Plan The following section describes Ihe achievement of strategic goals of the Partnership over the last year with reference to ils specitic actlon plan and differences that were achieved Goal 1: Lough Managemenl.. To establish a new model for the navigation, managemenl and ownership of the Lough that can deliver on shared goals. Projects .Lobbied to set up new Interdepartmentallcouncil working group (Lough Neagh Management Group) and Stormont Government Lough Neagh motlon on new structures agreed. New political will of Slormont to Lackle problems .Received funding to examine new ownership models to assist government set up new structures and help buy the bed and soil of Lough Neagh. New engagement wilh oner of bed and soil Goal 2: Resilience: To become a resilient and financially sustainable organisation; well governed with skilled staff who are secure in their posts and reserves to spend on our important work. Projects Increase Council core funding to allow core stability and carry out more work Gained other Income generation opportunities via use of Dormant Account Fund Nl to provide better seNi¢e Increase linkages between conservation and economic prosperity via Sand Traders and Goal 3: Support farmlng sector to adapt to new environmental, water quality and climate requirements Projects .Extended new EFS Group Scheme to 2026 and got more land conserved .Grow Moiled Cattle Chain and encourage new types of cattle to be used .Promote new foodstuffs of Lough Neagh via Artisan Market and create local economic opportunities .Linked with new Water Quality Task force set up as a result of the Green Blue Algae Crisis in the summer of 2023 and will work more closely wilh government in future .Developed major Peatland Restoration Project worked up at School Lands to protect major curlew species Goal 4: Conservation management: Protect this special place and it's cuftural, built, and natural heritage and create new green economy business opportunities Projects .Shoreline and Island Conservation Management work programme implemented, and date gathered to set new conseNation policy. .Lough Neagh Heritage management continues via NLHF and NIEA Environment Fund. .Protecting and restoring our wetland habitats and species via Peace Plus and Environment Fund etc Goal 5: Vlsitors: To establish Lough Neagh and Navigable rivers as a common brand and work with private sector on food development and food experience branding Projects .Worked with Tourism to develop new Lough Neagh Tourism Experiences .Promoie Lough N8agh Food and food artisan events and clusters and more economic opportunities developed .Helped Councils promote and develop River Bann and Blackwater River l Ulster Canal and created new investment opportunities for rural community Goal 6: Innovative approaches to land management, climate change and carbon capiure Projects .Develop conservation opportunities for non-productive agricultural land via EFS Develop Project .Drew up Climate Change and Carbon develop new resilience planls and have dla to use for new conservation projects .Develop carkx)n capture project and examine possible trading options that will also restore new areas of damaged bog
Lough Neagh Partnershlp Llmlled Company Ilmited by guarantee Trustees Report (Incorporatlng the Direclors raport) Year ènded 31 March 2024 Mlligation of any harm There has been no economic displacement of conseNation damage as a result ol the work we carried out during the year. Have we provided informatlon on any private benefit Some individual farmers may have benefited from our encouragement to help them become More environmentally friendly. The details of the number of farmers is identified in the data above but the public beneftts in terms of species protected land managed better areas under new nature conservation have been hugely significant. Staff of LNP have not had any personal benefit from the work excepi through staff wages. Commissions Guidance The drawing up of this report statement and the activilles of the Lough Neagh Partnership have made strong reference to the charity Commissions public benefit toolkit and guidance notes. The trustees have had regard to the Public Benefit requirement as stipulated by Charity Commission for Northern Ireland. Future Vlsion and goals The Partnership should review and improve its governance, remit, and staffing structures to take on board future economic and political challenges and become more financially resilient In the long term. LNP and main Councils should request to sit on the new Water Quality Task Force to deal with green algae bloom and work to develop a long term river Catchment solution The Partnership should lake lead with other partners and govt departments and lobby and agree to set up a new management structure known as the Lough Neagh Management Body ILNMB) made up of senior director staff from the three main Councils, DFI, DAERA DFC and DFF to meet twice a year to worf( to this strategic review and plan and monitor progress, integrating common goals and funding applications associated with this document. This strategic review and plan 2023 - 2028 should be used as a working tool for the LNMB. The three main Councils should increase the core funding levels to the Lough Neagh Partnership for the next five years.12023 - 2028) to retain effective staff members, provide financial stability to the body and allow the Partnership to lever in increased value and investment. The Lough Neagh Partnership should set up a formal linkage and parlnership with cross border body wateayS Ireland and Border Council to allow it to apply for shared Island and SEUPB funding. This should be supported by the main Councils. Also recommend that LNP rep sits on ICBAN and EBR bodies to make sure more integrated approach to cross border development. The three main Councils should endorse the nominalion of political representatives to sit on the Lough Neagh Partnership Board to ensure political support and public transparency for the development of the Lough. The three main Councils should enter into a new five-year service level agreement with the Partnership from April 2023 - March 2028 based on the attraction of additional inveslment and addressing agreed strategic needs and outcomes. The SLA should be outcomes and not outpulslactions focussed, and the Partnership should provide an annual report to feed into new Lough Neagh Management Body structure.
Lough Neagh Partnershlp Llmlted Company limited by guarantoe Truste•$ Report (Incorporating the Directors report) Year ended 31 March 2024 Common Lough Neagh Marketing Destination Pot developed from three main Councils from existing City Deal, Tourlsm Nl and Levelling Up Fund. BSP, City Deal , SEUPB, Shared Island and Landfill Ta funds prioritised to Lough Neagh Area for match funding of joint conseNation projects. Three main Councils and three main Departments in the new Lough Neagh Management Body should bid, budget, and provisionally allocate revenue and matching capital funds for the next 5 years specific for Joint Lough Neagh Projects and funding applications. Speclflc Plans for the tuture The plans for the forthcoming 12-18 months have been summarised below: Contlnue lobbying for new Lough Neagh Integrated government policy and integrated management approach to Lough Develop SEUPB major landscape and ownership project Revlsit Blackwater project Reinvestigate navigation and dredging study and investigate funding for new markers. Develop Abandoned land project via Esmee Fairt)urn Develop new EF application and proposals for rangers Continue data collection and bird counts for NIEA Develop new ASSIISPA and Heritage Landscape Plan Monitor and measure success of all programmes Volunteers All Board members are volunteers and put their own time and effort into the board and financial committee activities. The Partnership also contribute to in kind contributions of expertise for some small projects also. variety of volunteer litter lift events were also held throughout the year. Envlronmental Crisls - Blue Green Algae This summer of 2023 witnessed a major Algae Bloom occurring on Lough Neagh. This was a result of four main factors including Nutrient overload from farms and sewage plants. climate change impact of temperature increase in the Lough and more wetter summers, together with the impact of an invasive called the Zebra Mussel. The Partnership has a number of short term, medium temi and long term reactions to the environmental crisis. Short Term 1. Raised awareness of the crisis and the reasons for it on major news broadcasters 2. Attended public meetings at Bellaghy, Ardboe and Craigavon 3. Met with all of the Political leaders and groups and provided potential solutions 4. Met and set up a cross party MLA Lough Neagh Group 5. Met Office of Environmental Protection and gave evidence 6. Met with Labour NIO Shadow Minlster 7. Gave evidence to Water Qualty Task Force Medium Torm Solutions Increase positive message of Lough and educate on reasons for Blue Green Algae 2. Lobby for setting up of new structures for the Lough 3. LNP to sit on Lough Neagh Scientitic group 4. Develop major programme with Woodlands Trust regarding afforestation of river catchments in Lough Neagh to create major buffer zones for Nutrient take Apply for DAERA Pilot Programme 10
Lough Neagh Partnershlp Limited Company limited by guarantee Trustees Report (Incorporatlng ihe Dlreclors report) Year ended 31 March 2024 6. Extend EFS scheme Lon Term Solutions Roll out and improve soil management to help reduce P fertillser use 2. Reduce P content of anlmal feed and examine manure P export from Nl. 3. Reprioritise and redesignate Lough Neagh and its Catchments and increase assistance to Environmental Farm Scheme for nutrient reduction 4. Reprioritise N I Water investment to catchments of Lough and reassess nutrient regulations for Sewage treatment output loads 5. Introduce Septlc Tank education officers around Lough and Catchments 6. Reassess real deterrent effect of Agriculture and Nl Water Pollution Fines 7. Increase resources to NIEA Water Catchments Basement Plans 8. Provide a new Blo Digester Plant for Lough Neagh Catchments 9. Ensure better data collection and research via AFBI Flnancial Revlew Income for the company from all sources amounted to £ 482,994 (2023 - £693,964) and Outgoing resources amounted to £ 501,092 12023 - £686,222), giving a deficit for the year of £(18,098)12023 - £7,742 Surplus). Policy on holdlng reserves The Trusteesl directors regularly review the financial standing of the company al each board meeting. During each meeting they monitor the spending of each project against budget as these are all 'restrlcted' income streams. They also monitor the income and expenditure of'unallocated, funding. The company does not have a specrfic policy on carrying a pre-defined level of reserves as this in not feasible given the nature of project funding. Dlrectors responslbllllios statement The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of aflairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: select suitable accounting pollcies and then apply them consistently; observe the methods and principles in the applicable Charities SORP make judgments and accounting estimates that are reasonable and prudenl., and prepare the linancial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position ot the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responslble for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Lough Neagh Partnershlp Llmlted Company Ilmlled by guarantee Trustees Report (IncOoratIng the Dlreclors roport) Year ended 31 March 2024 Small company provislons This report has been prepared in accordance with the provlsions applicable to companies entitled to the small companies exemption. This report was approved by the board of directors on 21st November 2024 and signed on behalf of the board by: Mrs Mary Vero Director Ica Devlin 12
Lough Neagh Partnership Limlted Company limlted by guarantee Independent Examlner3 Report Year ended 31 March 2024 Indeperent examlnorfs report lo the iNsteesl directors of Lough Noagh Partnership Limlted (Iho Company.) I report on the charity trustees on my examination of the accounts of the Company for the year ended 31 $1 March 2024. Responsibililles and basis of report As the charrty's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'l. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report In respect of my examination of your charity's accounts as carried out under the Charities ActlNorthern Ireland) 2008, s. 65. In carrying out my examination I have followed the Directions given by the Charity Commission for Nl. Independent examiner's stalemanl Slnce the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in s 65 of the 2011 Act. I confirm that l am qualified to undertake the examination because l a member of Chartere(i Accountants Ireland. which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination givlng me cause to believe: {1) accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act., or (2) the accounts do not accord with those records., or (3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examination. or (4} the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable to charitles preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS102 I have no COnrnS and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed Name: nathan Ross Qualification.. Chartered Accountant Address:44 Blackisland Road, Portadown. BT62 1 NE Date: 21 November 2024 The notes on pages 17 10 25 forni part of those flnancial statements. 13
Lough Neagh Partnershlp Limitod Company limlted by guarantee Slatemanl of Flnancial Actlvltles Year ended 31 March 2024 Current Reslrlcted Funds ear Unrestricted Funds Tolal Funds Prior year Incomlng R•sourcas Notes Voluntary income 73,000 409,994 482,994 693.964 Total Incomlng Resources 73,000 409.994 482,994 Resources Expended Charitable actlvities (58,514) 182,489 123,975 279.743 Governance Costs 10,080 10,080 7,000 Support Costs 139.565 227 472 367.037 399,479 Total Resources Expended 81,051 420,041 501.092 Net movement In funds Raconclllation of funds 10.047 Total funds brought fomard 15 170,426 101,000 Total funds carried forward 15 152,328 108,742 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notos on pages 17 to 25 forni part of these financlal statements. 14
Lough Neagh Partnershlp Llmlted Company limited by guarantee ststement of flnanclal poslllon 31 March 2024 2024 2023 Note Flxed assets Intangible assets Tanglble assets 11 10 6.310 84.094 7.886 96,350 90,404 104.236 Current assets Debtors Cash at bank and in hand 85.107 12 173,082 94,227 245.711 258.189 339,938 Creditors: amounts falllng due wlthln one year Net current assels 13 (110.333) {191.924) 147,856 148,014 Total aS$S less current Ilabllities 238,260 252.250 Credltors: amounts falllng due aft&r more than one year 14 (85,9311 181.824) 152,329 170.426 Funds of the Charlty Unrestricted Fund Restricted Fund 123,046 29,283 131,096 39,330 Total charity funds 15 152,329 170.426 These financial statements were approved by the board of trustees and authorised for issue on 21st November 2024, and are signed on behalf of the board by: Mrs Mary Director eronica Devlin Mr Conor Director or Company registration number.. N1041855 The noies on pages 17 10 25 form part of Ih&8e financlal statements. 15
Lough Neagh Partnership Llmited Company Ilmlted by guarantee Statement of cash flows Year ended 31 March 2024 2024 2023 Nole Cash flows from oporating actlvllles ILoss)/profit for the financial year 118.099> 7,744 Adjustments for.. Depreciation of tangible assets Amortisation of Intangible assets Interest payable and similar expenses Accrued expensesl(income) 21.024 24,088 1,577 1,972 22 166 {27,57n 1202,879) Changes in.. Trade and other debtors Trade and other creditors 9,120 237,427 (49,813) (106,776) (63,746) (38,258) Cash generated from operations Interest paid (22) {166) Net cash used in operating activities (63,768) (38,4241 Cash flows from Investing activitles Purchase of tangible assets Net cash used in investing activities Nel Increasel{decrease) in cash and $h equivalents Cash and cash equivalents at beglnnlng of year Cash and cash equivalents at end of year (8,768) (36,594) 18,7681 (36,594) (72,5361 245,618 (75.018) 320,636 173,082 245,618 The notes on pages 17 to 25 form part of Ihese financial stalements. 16
Lough N•agh Partnership Limitad Company limit•d by guarante• Notes to the flnanclal statements Year ended 31 March 2024 General Informalion The company is a private company limited by guarantee. registered in Northern Ireland. The address of the registered off ice is Unit 3 The Marina Centre. 135a Shore Road, Ballyronan, Magherafelt. Statemenl of compllancel Basis of preparatlon Statement of Compllance The financial statements have been prepared in accordance with the Accounting and Reportlng 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 1A) (effective January 2015) - Charities SORP (FRS 1021), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006. Basls of Preparatlon The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Golng Concern There are no material uncertainlies about the charities abilty to continue. Judgoments and key sources of estlmatlon uncertainty The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are contlnually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Forelgn currency Foreign currency transactions are initiaily recorded in the functional currency, by applying the spot rate of exchange as at the date of Ihe transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange prevaling at the balance sheet date, with any gains or losses being taken to the SOFA (Statement of Financial Activities). Accountlng pollcies Tumoverl Income recognilion The company has main sources of income- project ndIng and core funding. Project funding is awarded to the company for the completion of a specific project. Income for project funding is released in line with the level of completlon of the project or in accordance with the term of the projects. Letter of Offer. Core funding is provided to the company to cover any costs as deemed to be necessary by the directors. Taxallon The taxation expense represents the aggregate amount of Current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable protit for the current and past perlods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. 17
Lough Neagh Partnership Llmlled Company Ilmfted by guarant86 Notes to Ihe flnancial ststements (continuod) Year ended 31 March 2024 Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabllities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. Intsnglble assets Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation. as determined by reference to an active market. less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intanglble assets acquired as part of a business combination are recorded at the fair value at the acqulsltion date. Amortlsallon Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: If there is an indication that there has been a signlficant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates. Tanglble assets Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the rryIng amount of an asset as a result of a revaluation. is recognised in other comprehenslve income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reseNes in respect of that asset, the excess shall be recognised in profit or loss. 18
Lough Neagh Partnership Limiled Company Ilmlted by guarantee Notes to the flnanclal slatements (contlnued) Year ended 31 March 2024 Deprociation Depreciation is calculated so as to write off the cost or valuation of an asset. less its residual value, over the useful economic life of that asset as follows: If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates. Intsngible assets Website. straight line method of depreciation over 5 years. wlth no resldual value Tangible assets Plant & Machlnery and Fixtures. Flttlngs & Equipment; reducing balance method of depreciation, with a depreciation rate 0120%. Impalrment A review for indicators of Impairment is carried out at each reporting date, wilh the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the assel and generates cash inflows that are largely independ8nt of the cash inflows from other assets or group8 of assets. Governmenl granls Government granls are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful lrfe of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future perfonnance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to salisfying the revenue recognition criterla, they are recognised as a liabilty. 19
Lough Neagh Parlnershlp Llmlted Company limited by guaranlee Notes lo the flnanclal statements {contlnued) Year ended 31 March 2024 Financlal Instruments A financial asset or a financial liability is recognised only when the company becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the Iransaction price. unless the arrangernent constitute5 a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest lor a similar debt instrument. Debt instrljments are subsequently measured at amortised cost. For all equity instruments regardless of significan. and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related seNice is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months ol the end ol the reporting date In which the employees render the related seNice, the liability is measured on a dlscounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises. Limited by guarantee Lough Neagh Partnership Limited is a company limited by guarantee and accordingly does not have any share capital. Every member of the company undertakes to contribuie such amount as may be required not exceeding £5.00 to the assets of the company in the event of ils being wound up while he or she is a member, or within one year after he or she ceases to be a member. 20
Lough N&agh Partnershlp Llmited Company Ilmlted by guaranlee Notes to th6 financlal ststements (contlnued) Year 6nded 31 March 2024 Voluntary Income Total Funds Unrestricted Restricted Prior year Grants Rec'd - Councils (Core) Grants Rec'd - Councils (Projects) Lottery Fund 73,000 73,000 15,177 72,453 73,000 15,177 72,453 184,184 Grants Rec'd - Env Group Farm Scheme Grants Rec'd - HLF - Coallsland Project Grants Rec'd - DAERA - LN Artisan Grants Rec'd- NIEA EF Grants Rec'd - Tourism Nl Dormant Accounts Fund Challenge Fund Grants Rec'd - Community Renewal Fund LP Match Funding Grants Rec'd - River to Lough Other Income 104.638 104,638 (17,846) 29,964 130.840 125,163 125,163 50.000 50.000 37,500 143,083 104.585 42,563 409.994 42.563 482,994 8,674 693,964 73.000 Charilable Activllles Total Funds Unrestricted Restricted Prior year Promotional Activities, workshops & leaflets Project costs Mgt fee - Landscape Partnership Mgt fee- NIEA Project Mgt fee - EFS Project Mgt fee - Communlty Renewal Fund Mgt fee - LP Legacy 28,779 95,196 17.141 11,265 27,358 28.779 95,196 29,905 152,437 69,198 9,000 15,627 3,576 (17,141) {11,265) (27.358) 2,750 2,750 58,514 123,975 279,743 Governance Costs Total Funds Unrestricted Restricted Prlor year Legal & professional Accountancy & Audit 7.600 7,600 2,480 10,080 2,300 7.000 21
Lough Neagh Partnershlp Llmlted Company Ilmlled by guarantee Notes to the flnancial stal8monts (continuad) Year ended 31 March 2024 Support Costs Total Funds Unrestricted Restricled Prior year Wages and salaries Staff pension costs Staff Training Rent payable Insurance Computer Bureau Costs Light & Heat Repairs & Maintenance Printing. postage & stationery Telephone Hire of Equipment Travelling Bank Charges Loss on exchange General Expenses Subscriptions Amortisation of intangible assets Depreciation of tangible ass8ts Bank Interest paid 127,330 1.791 167,603 4,932 2,234 3,214 2.318 3,221 760 691 2,298 2,886 936 7,728 559 10 2,766 2,693 1,577 21,024 22 227.472 294,933 6,723 2,234 4,408 3,927 6.756 1,257 691 3.573 4,278 936 7,728 559 10 3,708 2,693 1,577 21,024 22 367 037 309.186 7,938 7,810 2.365 7,898 6.957 670 697 3,695 3.937 936 17,008 638 24 2.096 1,398 1,972 24,088 166 399.479 1.194 1.609 3,535 497 1,275 1,392 942 139,565 Total Funds Unrestricted Restricted Prior year Stsff Costs (breakdown) Wages & Salaries 120.352 146,390 266,743 278,515 Soclal Security Costs Employer contribution to pensions 6,978 21,212 28,190 30,671 1.791 4,932 6.723 7,938 129.121 172,535 301.656 317 124 During the year the average number of employees was 8 (2023; 8 employees) No employee durlng the year received employee benefrts of more than £60,000. 22
Lough Neagh Partnership Limited Company Ilmlled by guarantee Notes to the financlal statementg (conllnued) Year ended 31 March 2024 10. Tangible assets Long Plant & Leasehold Machinery equipment Fixtures, Fittings & Totsl Cost al 18t April 2023 Additions 140 7,781 190,488 8.766 198.409 8.766 At 31 March 2024 7,781 199,254 207,175 Depreclation At 1 April 2023 Charge for the year At 31 March 2024 140 7,781 94,138 21,024 102,060 21,024 140 7,781 115,162 123.084 Carrying amount At 31 March 2024 84,092 84,092 At 31 March 2023 96.349 96,349 11. Intanglble assets Other intangible assets Total Cost At 1 April 2023 Additions 57,379 57,379 At 31 March 2024 57,379 57.379 Amortisallon At 1 April 2023 Charge for the year At 31 March 2024 49,493 1,577 49,493 1,577 51,070 51,070 Carrylng amount At 31 March 2024 6,309 6,309 At 31 March 2023 7,886 7,886 12. Cash & cash equivalents 2024 2023 Cash at Bank Bank overdrafts & Credlt cards 175,157 2.075 245,711 93 173,082 23
Lough Neagh Partnership Llmlted Company limited by guarantee Notes to the financlal slatements (contlnued) Year ended 31 March 2024 13. Credltors less than 1 year 2024 2023 Overdraft Trade Creditors FT Credit Card PAYE Pension corrtributions Accruals 33,417 2,075 7,909 1,058 65,949 110.408 89,187 93 6,443 673 95,528 191,924 Delerred Grants and deferred income 2024 2023 At 1 April Received in year Released in year At 31 March 81.824 72.640 68,535 85,929 185,487 98,719 202,382 81,824 15. Raconciliation of Resarv8s Tolal Funds Unrestricted Restricted Prior year ReseNes Bl fwd - 1 April 2023 Surplus/ (Deficit) in year Reserves Cl fwd - 31 March 2024 131,096 8,051 123.045 39,330 10,047 29.283 170,426 162,684 152,328 170.426 16. Prejudicial Dlsclosure8 lin accordance with FRS102 para 21.171 In June 2023 LNP appears to have been a victim of extemal cyber fraud. The cyber fraud Is currently under investigation. Details of the fraud should therefore nol be disclosed until the investigation is completed so that the investigation is not compromised, for this reason the information required under Para 21.16 of FRS 102 has not been disclosed. 17. Trustees remuneratlon The Trusteesl DIreOrS all fultil their duties in a voluntary capacity, as such no Trustee/ director received any remuneration or other benefits for their duties undertaken in this capacity. 18. Trustees expenses No Trustees expenses have been incurred during the year. 24
Lough Neagh Partnershlp Llmlled Company Ilmlled by guarantee Notes lo the flnanclal statements (contlnued) Year ended 31 March 2024 19. Related Party Transactions There were no related party transactions during the year. Conlrolllng party The board of trusteesl directors is the ultimate controlling party. 21. Golng Concorn The directors consider the use of the going concern basis of accountlng Is approprSate because there are no materlal uncertainties relating to events or conditions that may cast signrficant doubt about the abillty of the company to continue as a going concern. 25