LFT CHARITABLE TRUST ST ST TRUSTEES, REPORT FOR THE PERIOD FROM I OCTOBER 2023 TO 31 MARCH 2024 The Tnjslees of LFf Charitable Trust ate pleased to present their report and financial slaiemenis for ihe period from I" OL(ober 2023 iu 31 MarLh 2024. Truslees have prepared the financial sia(emenls in accordance with the Trust Deed. applicable Accounting Standards in the United Kingdoin (FR,8 102). the Siaiemenl of Recommendtyd Practice (SORP) 'Accounting kd Reporting by Charities, issued in Oclc)ber ?019, and in accordance with the Charities Aci (Northern Ireland) 2008. Objectives and Activities LFf Charitable Trusi was established under a Trust l)eed in June 2017. LFf Charitable Trust's vision is of a just world where people have equal opportunity to transform Iheir lives, parLieipale in their communities and build successful futures. The Truqi has wide discretionary power8 io promole aiid .%upporl Lharilable purpo.se.8 and obj¢¢livLs fur publiL benefit including in particul. a) the reliel lil the suffering and disiress of those persons who (by reason of social, financial nr niher circumsiances} are in nLLd. b) the furtherance and advanLemenl of the education of Lhildren and adults; and c) the promotion of ihe hellih and wLllbLing of children and adults. LFf Charitable Trust achieves Ihese objuclivcs by 41w(dIng grants. The Trust is intended lo bc cxclusivcly grimt- making. wilh no lundraising nr operating activities. LFf aims 10 fund progratnmes of activity delivered by pariner organisalion.s which.. makL a lasling dirrerence to people's lives as well as allei'iaiing the symptoms or currL'nt problems; arc aimed ai i'Lducing isolalii)n, inLqualily and %iigma,' dnd inspire nr empDwer individuals lo realise their pnlLiilial and share in ihe life of the whole communily. LFf Chariiable Trust is primarily a proaclivc funder. Knowledge is buili by talking 10 and mccling with individuals and organisalions working within priority aroas. Ii is app%ireni Ihai this approaLh is yielding bLnLlils r()r LFT wiih 9.510 ol Graiil Partners de.qcribing LbT a8 prol'essional and knowlLdgedble, dttspiie a mudesi track reL()rd ()r IivL years, granimaking. Where opportunitlLS are idLntified arld Ihe prospect of a projeLi ihdi aligns with LFT, s grant making policies, prowsals arc invilcd for funding using an official &ppliealitTrn fi)rm. All applications are then assessed againsi established criteria and grants awarded al the discretion ot the Board of TrusleLS. During Ihc past six monihs Trustces have also undertaken a small number ol- opcn calls tor applications undLf SPLciIIc th¢mes such as addiction, mental healTh counselling and accessible fa¢ilities. All of the Trust, s purposes are achieved by aw'arding grants lo individuiils and org&ISt1tIOns on the basis that funding will have a positive impact on the beneticiaries. Those that receive a grant are rLquirLd to demonslralL ihL dirLcl and indireLI benefii IhLir wurk ha8 un PL()ple in Iieed via regular moniluring and Cvaluativii. Miiidful ol the admiiiislraiion burdL'n placcd on Grant Partncrs, LFf has worked diligcnily io keep n)onitoring and L valualiDn to a iT]inimuiii and only COIILLI daia Ihal truly nLLL%%dry. a fall endorbed hy 96% of Grani Panners indicating ihal the el'tort rcquired was appropriate lo the size of the granl. Truslees review and update grant making policy at regular intervals lo ensure il is responsive and rLlcvant 10 current needs.
LFr cEtARITABLE TRUST TRUSTEE REPOR T (continued) Achievements 2nd Performance The Trustees confirm that they havL considered the Chiwity Commissioii for NI'S general guidance on public benefit when reviewing the Trust's objectives and in planning furure aciivilies and grant making throughout the period. A copy ol. the Coniniission, 5 guidance notes on public benefit has been issued (o all TrusieL'S. LFT Charitable Trust operaies lor Ihe public benefit with ihe uliimaie benefiLiaries being the many people supported by th¢ grant partner4 that LPT funds. In providing support LFf Trustees examinL hi)w grant partner organisation.8 are govemed dnd l.Ff grants are madL wilh conditions lo ensure ihLy are Spent appropriately and for ihL LharitaFile purposes outlined by the applicanl organisalion. The benefils Ot"all purposes are demonstrated through regular feedback and evaluation of the organisalions and beneficiarics supported. Trusievs have Lonlinued to develop endurin¥ relationships wilh a numbLr of exisiing granl parlners with visils lo meel community Icader.s and ben¢ticiaries taking place. In devLloping Llo.%L rclalion.8 with gran( par(nLr8 LFf ]% ablL lo learn and better understand the environmenl in which we operate and uliimaiely Tlldke belter informed grdntmaking decisions. LFf grani partnLfs Lon%i%lenily report that they have a 'strong, positive relationship with LFf' with 96% indicaling they feel 'valued' by LFr. Twenly-six organisaiions were suppor(ed during ihe period with a new funLling IL4IILr ill ofier, uver.fjOlo of whom were nLW grant partiicrs, many ot. whom came to our attention during thL pfoLLS4 Ot. an open call. Grant partners are typically small (491. have an annual income less than £?50,000 and 6110 have le85 than 10 enipl(IyLe%) WL'II-connLclLd, rL'sponsivL and agile grassroois organisaiions as illustrated by Ihe diversity of activities dLlivLred and highlighied on ihc LFT web5ile. Direci in)pacl on Grant PartnLr% is mcasurLd wilh rel'ereo¢c to Ihcir capacity io rLaLh morL. bcncticiarics, to improve the qU¢ilily of SLrvices offered io beneficiarie% and the iniLrnal managL'mLnl capacity and rL%iliLnce of thtyir organi%diion. Nalurally nol all proJcLls supponLd will have a direcl iinpaci on all of IhLSL fiillurs, bul e{lY fLLdback suggLsts 79% of Grant Partner8 rccogni.qe the I'unding from LFf as sirongly impacting on Ihcir ability lo support morL vuln¢rablc benetiLiaries and 7.$% of Grant ParinLrs id¢niify the grant as having a s(rong imp<iCi on the quality of Ihe ,serviLes dvliverLd. 770/0 of Grant Parlner.s a¢¢rediled LbT fuiidiiig with pusilively impaLliii¥ Ihe management capacity and Lapabilily. he R¢lief of ,8uffcrin and Distress As in prLvious PLri()d.4, th¢ r¢&4()ns why individuals find themselves in need varies greatly as does the mean5 in which Ihey Lan be supported. During the period grants offered included an initiative to support parcnls grieving (he 1055 of 41 child, including pregnancy loss. Tlie Prornolion ol Healih and W¢llb¢in BttnLfiLiaries of all ages aiid slage5 0( lile were suppvned in a range of healih and wellbeing iniliaiives delivered by grant partners. A cohort of new grant partners came ihrough the promotion of the Mind .Matter5 Granlm3king Programme which has supported charilies lemporarily increase their capacity lo otfer counselling and other psychological iherapics and expedite care to adults on their wailing lisis. The successful applicants typically represent grassroots, communily-based organi8ations that addre.s.s a range uf menial healih iSSUL8'. Irauma,. Suicide,. addiLlion- victims; bereavemeiil,. anxi¥ly and depression. Funding awardcd will provide almost 91K) 8cssions to 78 people on wailing li.4t% throughout Northern Ireland.
LFf CHARITABLE TRUST TRUSTEE REPORT (conlinued) Achievements and Performance (Lon<inued) The Advancement of Educaiion This pLriod LFT grant partners delivered initiative5 that addressed barriers lo learning which ranged from econnmic background lo speLial education provision. Also supported Wds Ihe establishmeni of a flexible fund tor pupil.8 aged 16+ who tace tinancial barriers which may prevent them from coniinuing to AS / A-Level. further or higher education, employment or apprenticeship. Finaneial Review TIIL Trusl is I'unded in ils eniirely from charitable donations from AlieTlty Investmen15 1.ld whiLh has plcdged up lo 50Wo of Ihe surplus inLumL gLneraled by Alierily's invLsimenL business io LPT Chariiable Trusl. During (he period Charitable Trusi provided funding to ils grai)I pariner.s in excess uf £200.000 whicli brings the total suin disbursed since ihe esiablishTnenl of the Trusi lo over £.3..5 million. Forward coinmitInLnis ol. an additional £.3.57,000 are recognised as ai the balance sheet dale and, along witli conditional offLrs. bring IhL lolal funding pledged since (he incepiion of Ihe Trust to over £3.8 million. Trustees do not consider a Rcqcrvcs Policy 18 necessary given thL currcnl financial arrangemciits in place with AItLrily Inveslmenls. Alterily itsell. continues to mainliiin a strong financial posilion wilh a diverse range ol. incoine streains. LFT Charitable Trust does not hold any funds on behalf of others. ThL audilurs. St¢ven50n and Wilson, have indi¢ai¢d iheir willingness lo Lvnlinuc in ollice and a rLsoluiiun ¢unLernin¥ thLir rc-appoinlmcnt will bc proposed ai the Board ot Truslecs Mceiing on 131h August 2024. Plans for future periods TruslLLS will continue (i) award granis which progrLss IhL vi.qion of a jusl woi'ld whLre people have cqual opportunity lo Iraiisfumi IhLir livls, partiiipalL iii Iheir LummuniLius Jiid build suLLessful fului'LS. The development of a new grunlmaking slr(Ilegy is proposed during Ihits financial period.
LFT CHARITABLE TRUST TRUSTEE REPORT (continued) Structure, Governance 2nd Management LFT Ch<Witable Trust is governed by lis Trust Deed created on 29, June 2017. Regisirdtion with ihe Charity Commission for Northern Ireland was completed on 31 ' July 2019 (NIC 10737_3). The power of appointing new Trustees is vested in the Seiilor of the Trust and mus( be done by virtue of a deed. New Trustees are invited on the basis of their proven ability, relevant experience. and personal inleresi in ihe work of the Charitable Trust. First genera(ion Trusiees coniinue lo lead on the progTamme io develop Next GenLraiion Tru5lees which includes developing and cxpanding their knowledge of issues tacing local communities in NI, researching pro.8PL¢tive grant partners, granlmaking and eduLaiional visits to communiiy paffners. During the period two new indepcndcnt Trustccs wcrL recruifLd io Ihc Floard bringing specil'Ec cxpcrti,%c ot the local comTnunity voluntary sector. The Trust hils <111 induciion progrdmme fur ncw Trustees who are advised of their legal nbligations as Trusiees. briefed on the governance and Slruclure of the Trust and providLd with an overview of IhL Trusi, s PLrl'()rmance in meeiing ils charilablc purposes. All TruslLLS Lutnmil lo a Code of ConduLi and are r¢quirLd lo disLI()8e all relevant iniervsi8, register Iliem wilh Ihe GLneral Manager and in accordancL wilh IhL Tru%t'% policy withdraw I'rom dis¢u44ion / dccisions where a p¢'rceived or ¢iclual contlic( of inier¢st (Irises. All TrusleL5 ¥ive uf Ihcir liniL frcLly and no Trustee remiineralion wa5 paid during ihe rLporting period. There are currLntly sevcn Trustees wlio havL ovLrall responsibilily for the Trust. During Ihc period undLr Lons'ideralion, six Truslee meelings WLfL hLId. The Trusiees are responsible for the overall governiince of the Trust dnd oversee (Ill gr<inl making. The Tru.s1' 5 GLneral Manager. Aisling Johnston, is responsible for implementing the LFf Charilable Trusl slr&ilegy aiid for Ih'e managumeni ()[ Ihe day-Ii)-day upLrdlions of rhe Trusi and ils activities. Thc TrusleLs review the ILVLI of rLniunLr&Li()11 paid i() kLy managLmLiII PLrsiiniiLI io ¢nsurv il is al a ILVLI consi81eiiL wilh Ihv rulL and re8PC)i)sibilily or IhL POSItion and consislenl with thai ol'.siiiiilar Lnlilic%. Risks arL considerLd on an annual basis by Trusiees. This involve5 idlnlifyittg IhL types of risk, in particular those rLlalLd io the operations and finances of Ihc Trust, prioi'ilising Ihem in ILrmb of impaci and likelih(ii)d of occuttcnce and idLI)lifying Inean.8 of illiligaiing risk.s. R¥li4ince on a single source of income conlinucs lo pose Ihe grLalesl IhrLal, however, Truslees ar¢ saii81i¢d (hal syslLms aiid procedures are in place lo miligatL Lxposure lo Ihe major risks. The Trust is £1 meinber of Philanthropy Ireland and the Funders Forum NI. The Trust IS 11150 a member of the Asso¢iation of Charitable Foundation8 (ACF) and Ihe General Mana¥er Li)ntinues to act as convenor tor the IamilY Foundations network of over 40 independent family foundations 10 Share and ILarn besl pra¢li¢e. LFT has deployed ihe ACF Pillar8 c)r Sironger Poiindalion8 as a benchmark slandard by which to evaluale organisational pcrlomiancc and Ihc Chair and GLner&l Man(igLr &58ess and c.gl&blish yearly objcclives and target8. Trustees continue lo promote philanthropy by sharing their personal experiences wilh other families who are exploring or developing Ihe conLept uf. charilable giving as a lamily.
Lyf CHARITABLE TRUST TRUSTEE REPORT (continued) Reference and administrative details Registered chaTity name= LFT Charitable Trust Trustees who held offiLe during ihe six monihs, and in Mr. Edward Aidan Lonergan che period sinLe 11 March 2024 10 (he dale ihLse Mrs. Anne Lonergan accoun18 were approved, were as follow.8'. Mr. G&vin Lonergan Mr. Ddrren tA)nergan Mr5. Clara Lcwis Ms. Jill Downing (deed c)f appointment dated 09104124) Mr. Joe Mcvey (deed of appoinlmeni daiLd 09104124) Chairman- Mr. Gavin Lonergan Charity Commission registration numher.. NIC107.373 Registered office I Principal Office: 4 Annadale Avenue Beltasi BT7 3JH Solicitor.. C.iifson MLDowcll LLP Murray H()use Murray SirLet Belfast BT16DN Auditor: PLbler Steven.%on .SIL'vLnson and Wilson 22-.10 Brnadway Avenue Ballymena BT43 7AA Bankers: Danske Bank l)()nLgall SquarL We.81 BLll<lSt BT16JS Statement of Trustees, responsibilities The Trustees are responsible for preparing the financial sialeinen15 in accordance with applicable law and regulations. Charily law requirc% thc Trust¢e.8 to prepare finanLial 8talemenl% for each financial period. Under Ihal law the Truslees havc prcparcd thc linancial sl&itLmLn15 in accordancc with Unilcd Kingdum GL'nL'rally Acccptcd Accounting Pr(IcIicL (United Kingdom Accnunting .Siandards and appllcable law). Under Charity law (hL Trustees musl not approve the rindnLial statenienis unless they are salisfied that they give a true and fair view ()f Ihl %talL of affairs of the charity and of ihL incoming rLsourccs and application of resources, including incoine and expendilurL for Ihal PLriod. In preparing IhesL finanLial SidiLn)ent.%, Ilic Tru5tccs are required to.. seleLI suitable acLoulliing policies and apply Ihem LQ)n8i8lenily'. observe the methods and principles in the Charilics SORP-FR.S102: make judgements and accounting estimates thai are reasonable and prudent; state whether applicable accounting standards have been followed. -gubje¢l lo any malerial departures disLlused and explainLd in Ihe fiiianLial slalenienl.. and prepare the finanLial sldtenients on the going Loncern basis unless it is inappropriaie io presume Ihat the Lharily will continue in business. The Trustees are resnsible for keeping adequate accounting records that are sufficient to show and explain the Trust's transactions and disclose wilh rL'asondble accuracy al any lime the finanLial position of the Trust and enable il lo ensure that rhe financial statements comply with the Charitie% Aet (Northern Ireland) 2tX)8. 11 is also responsible for safeguarding the assets ol the Trusi and hence for taking reasonable steps for the prevention and detection of fraud and oiher irregul&ri(ies.
LFT CHARITABLE TRUST TRUSTEE REPORT Icontinued) Statement of Trustees, responsibilities (coiitiiiued) In the case of eaeh Trustee, at the dale the Trusiees, Report is approved.. so far as the Trustee is aware, IherL is no relevant audii infom]aiion of which the chariiy's auditors are unaware; they have taken all the step% that they ought lo have taken a I'ru,%lee in order (o make them.selves aware of 4Wy relevanl <iudit informdlion and to est<iblish that the Ch41ty,S audiiors are awdre of that informaiion. Approved by the Board on i 3th August 2024 and signed on its behalf by.. GLU Chiiir an and Trustee