LFT CHARITABLE TRUST
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR EIYDED 31 MARCH 2025
Charities Registrdtion NumbeT= NIC107373

LFT CHARITABLE TRUST
REPORT AND FINANCIAL STATEMENTS FOR THE
ST
YEAR ENDED 31 MARCH 2025
CONTENTS
Pages
Chairman's Foreword
Trustees, Report
Independent Auditors Report
10- 12
Statement of Financial Activities (incorporaling income and expenditure account)
13
Statement of Financial PositionlBalance Sheet
14
Cash Flow Statement
15
Notes to the financial statements

LFT CHARITABLE TRUST
CHAIRMAN'S FOREWORD
The Board of LFT Charitable Trust are happy to look back on another year that cemented the values and advanced
LFT in the world of grantmaking.
L&st year we welcomed two new Trustees onto the board and their impact has been even better than hoped, helping us
not only lo increase our capacity but push us further towards our targets.
During this financial year we adopted our new grantmaking strategy, bringing our aims and methods up to date with
the ever-changing landscape of private philanthropy. A big part of this was cementing the Open Call approach and we
are delighted with the enthusiasm with which all OUT board members have embraced ihis challenge.
The dedication of our Chief Executive helps us to continue to thrive, and we look forward to another successful year
ahead.
Mr.G
vi
Lonergan
Chairperson and Trustee

LFT CHARITABLE TRUST
TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025
The Trustees of LFf Charitable Trust are pleased to present their report and financial statements for the year eT)ded
31, March 2025.
Trustees have prepared the financial stalements in accordance with the Trnst Deed. applicable Accounting Standards
in the United Kingdom (FRS 102), the Statemenl of Recommended Practice (SORP) 'Accounting and Reporting by
Charities, issued in October 2019, and in accordance with the Charities Act (Northern Ireland) 2008.
Objectives and Aetivities
LFT Charitable Trust was established under a Trust Deed in June 2017. LFT Charitable Trust's vision is of a just world
where people have equal opportunity io tran5foTm their I1￿¢s, participate in their communili¢s and build successful
futures.
The Trust has syide discretionarv powers to proimote and support charitable purposes and objectives for public beiiefit
includino in particiilar..
a) the relief of the suffering and distress of those persons in need.
b) the furtherance and advancement of the education of children and adults. and
c) the proTnotion of the health and wellbeing of children and adults.
LFT Charitable Trust achieves these objectives by awarding grdllts. The Trust is iniended to be exclusively
Frantmaking, Ivith no fiindraisiiig or operating activities. LFT aims to fund programmes olactivity. delivered by partner
organisation5 which=
make a lasting difference to people's live5 as well as alleviating the Sylnptoms or current problems;
are aimed at reducing isolation, inequality and stigma- and
inspire or empower individuals to realise their potential and share ivj the life of the whole community.
LFT Charitable Trust is primarily a proactive funder. Knowledge is built by tslking lo and meeting with individuals
and organisations working within priority areas. It is apparent that this approach is yielding benefits for LFT with 950/0
of Grant Partners describing LFT as professional and knowledgeable. despite a modest track record of six years,
grdnlmaking.
Where opportunitie5 are identified and the prospect of a project that align5 With LFT'S grant making policies, proposa15
are invited for funding using an official application fomi. All applications are then assessed against e5tabli5hed criteria
and grants awarded at the discrelion of th¢ Board of Trustees.
During the past year proactive grantmaking has been complemented by a small number of open calls airned at
identifying and supporting orgaT]isations to deliver on specific ihemes.
Resei & Recovery - to encourage people to achieve and suslain recovery from substance dependence and
addiction.
Tackling Poverty- for projects that complement the supply of emergency assistance such as food and fuel by
provtding opportunities for people to build autonomy, develop self-reliance and independence.
Nur¢ured by Nalure
to promote and harness the well-established links between the envtronment and
wellbeing and to support organisations to iv]crease community engagement and connectivity with nature for
mutual benefit.
Reach & Reconneci - to reduce social isolation and loneliness for older people not currently being reached by
existing initiatives.

LFT CHARITABLE TRUST
TRUSTEES, REPORT (continued)
Objectives and ActÉvitie5 (continued)
Mind Mallers
to support charities teTnporarily increase their Capacity to offer counselling and other
Psychological therapies and expedite care to adults on their waiting lists.
All of the Trust's purposes are achieved by awarding grants to individuals and organisation5 on the basis that funding
will have a positive impact on the beneficiaries. Those ihat receive a grant are required to demonstrate the direct and
indirect benefii their work has on people in need via regular moniloring and evaluation. Mindful of the administrdtion
burden placed on Grant Partners, LFT has worked diligently to keep monitoring and evaluation to a minimum and only
collect data that is truly necessary, a faci endorsed by 940/9 of GraJ]t Partners indicating that the effort required was
appropriate to the size of the grant.
Trnstees review and update grant making policy at regular intervals to ensure it 15 responsive and relevant to Current
needs. During the year Trustees considered and agreed their position on a range of issues including LFT'S perforniance
as a flexible and responsible grant maker, added value grantmaking. participatory grantmaking approaches, capturing
impact & learning and the visibility of grdntmaking.
A new Grantmaking Strategy has been developed for the period 2024-2027 which embeds LFT'S ambition to be a
relational funder. LFT Trustees are encouraged to identify and promote activity in areas that they have a genuiT)e
interest in, to build supportive relationships with grant partners and take the opportunity to engage with and get direct
feedback from beneficiaries. LFT Charitable Trust is favnily led and the new strategy continues to reflect the values of
its founders'.-
Com
assion
LFT commits to listening to and understanding the needs of those who are suffering and is driven by a desire
to act responsibly.
Fairness and Inte
ri
LFT aims to operate in a clear and transparent manner and make the process of applying for funds as simple
as possible for prospective partners.
Continuous Learnin
LFT seeks to build honest relationships with partners in which IK*th success and failure offer OppOr￿nitIeS for
learning. The Trust strives to be responsive lo change, unexpected consequences and external developments
that require shifts in strategy and expectation5.
Partnershi
& Collaboration
Reco(rnising one can achieve little on its own, LFf aims to develop close relationship5 with partners in order
to best support their work and to achieve shared goals.
Trustees have also committed to trialling a participatory grani making initiative with young people and using the
learning from this pilot to develop other means of ensuring lived-experience infomis grantmaking decisions.
Third generation family Tnembers continue to have an important role in LFT and there is a strnctured learning
programme in place for their development as future Famtlv Trustees. Activities during the year have included the
presentation of Christma5 gifts for children living in family hosiels, the thoughtful selection of little luxuries for the
'Shoe Box Appeal, for those experiencing homelessness, experiential learning activities to build understanding of
homelessness and poor mental health, grant partner visits and direct charitable giving.

LFT CHARITABLE TRUST
TRUSTEES. REPORT (continued)
Achievements and Performance
The Trustees confirn) that they have considered the Charity Commission for N I's general guidance on public benefit
when reviewing the Trust's objectives and in planning future activities and grant making throughout the period. A copy
of the Commission's guidance notes on public benefit has been issued to all Trustees.
LFT Charitable Trust operates for the public benefit with the ultimate beneficiarie5 being the many people supported
by the grant partners thai LFT funds. In providing 5UPPOrt LFT Trustees examine how grant partner organisations are
govemed and LFT grants are Tnade with conditions to ensure they are spent appropriately and for the charitable
purposes outlined by the applicani organisation. The benefits of all purposes are demonstrated throutsh regular feedback
and evaluation of the organlsations and beneficiaries supported.
Trustees have continued to develop enduring relationships with a number of existing grani partners with visits to meet
community leaders and beneficiaries taking place. In developing c105e relatiOT]s with grant partners LFT is able to leam
and better understand the environment in which we operate and ultimately Tnake better informed grantmaking
decisions. LFT grant partners consistently report that they have a 'strong, positive relationship with LFT, with 960/0
indicating they feel extremel> or very 'valued' by L wr.
Seventy-five organisaiions were supported during the period with a new funding letter of offer, over 550/0 of whom
were new grant partners, many of whom calne to our attention during the process of an open call.
Grant partners are typically small (500/0 have an annual income less than £250,000 and 780/0 have les5 than 10
employees) well-connected, responsive and agile grassroots organisations as illustrated by the diversity of activities
delivered and highlighted on the LFT website.
LFT'S direct impa¢1 on Grant Partners is tneasured wilh reference to their capacity to reach Tnore beneficiaries, to
improve the quality of services offered to beneficiaries and the internal management capacity and resilience of their
organisation. Naturally not all projects supported will have a direct impaci on all of these factors but feedback suggests
790/0 of Grant Partners recognise the funding from LFT as strongly impacting on their ability to support more vulnerable
beneficiaries and 750/0 of Grani Partners ideT]tify the grdnl as having a strong impact OT) the quality of the services
delivered. 770/0 of Grant Partners accredited LFf fuT]ding with positively impacting their management capacity and
capability.
The Relief of Sufferin
& Distress
As in previous years, the reasons why individuals find themselves in need varies greatly as does the means in which
they can be supported.
Mindful of statistics depicting 180/0 of people (approx. 349.000) living in relative poverty in Nl and growing numbers
of households experiencing food and fuel iT]security, the Tackling Poverty Programme funded a range of initiatives
promoting sustainable living. growing vegetables, nutrition and cooking on a budget.
The Promotion of Health & Wellbein
Beneficiaries of all ages and sia¥es of life were supported in a range of health & wellbeing initiatives delivered by
grant partners.
The value of nature-based interventions in improving health and wellbeing outcomes for people of all ages was the
fo¢us of the Nurtured by Nature Programme. li follows, that natu￿-based interventions which lead to increased nature
connectedness, also result in increases in proryenvironmental and pro-conservation behaviours. which are vital in
addressing the climate and environmental crisis. The aim of this LFT Grant making Programme was to protnote and
support organisations io increase community engagement and connectivity with nawre for mutual benefil.

LFT CHARITABLE TRUST
TRUSTEES, REPORT (conlinued)
Achievements and Performance fconlinued)
A significant proportion of the LFf budget was distributed io address mental health i55ues - from crisi5 intervention
and prioritising individual's safety to pre-emplive activities addressing risk factors and building healthy coping
mechanisms.
The Advancement of Education
Promoting equity of access to education was a key feature of the many education projects supported this year. Grant
partners delivered projects facilitating access to those excluded andlor disengaged from education as a result of
circumstances such as disability. nationality. gender and economic status.
A150 funded were a number of projects that offer alternative approaches to education and Working with learner5 to
ensure they Tnaximise their individual potential to succeed whether in education or employment.
Internationally the building of a number of Sch(￿1$ was SUPPOrted along with literacy and numeracy programmes.
Financial Review
The Trust is funded in its entirety from charithble donations from Alterity Investments Ltd which has pledged up to
500/0 of the surplus income generated by Alterity's investment business lo LFT Charitable Trust.
During the year LFT Charitable Trust provided ￿ndIng to its grant partners in excess of £1.4 million which bring5 the
total sum disbursed since the establishment of the Trust lo over £4.7 million. Fonvard commitments of an additional
£525,000 are Tecognised as at the balance sheet date and, along with conditional offers, bring the total funding pledged
since the inception of the Trust to over £5.2 million.
Trustees do not consider a Reserves Policy is necessary given the current financial arrangements in place with Alterity
Investments. Alterity itself continues to maintain a strong financial position with a diverse range of income streams.
LFT Charitable Trust does not hold any funds on behalf of others.
The auditors, Stevenson & Wilson, have indicated their willingness to continue in office and a resolution concerning
their re-appointment will be proposed at the Board of Trustees Meeting on ioth June 2025.
Plans for future periods
Trustees will continue to award grants which progress the LFT vision of a just world where people have equal
opportunity to transforn) their lives, participate in their communities and build successful futures.
A key focus for the new year will be to continue building the capacity of LFT to distribute ￿ndIng effictently and
effectively. To that end the recruitment of a Grants Manager and the appointment of a new independent Trustee is
proposed. Also being planned is a pilot participatory grantmaking initiative.

LFT CHAIUTABLE TRUST
TRUSTEES. REPORT (conlinued)
Structure, Governance and Managemenl
LFT Charitable Trust is governed by its Trust Deed created on 29 June 2017. Registration with the Charity
Commission for Northern Ireland was completed on 31" July 2019 (NIC 107373).
The power of appointing new Trustees is vested in the Settlor of the Trust and must be done by virtue of a deed. New
Trustees are invited on the basis of their proven ability. relevant experience, and personal interest in the work of the
Charitable Trust.
The Trust has an Énduction progrdmme for new Trustees who are advised of their legal obligations as Trustees, briefed
on the governance and structure of the Trust and provided with an overview of the Trust's performance in meeting its
charitable purposes.
All Trustees commit to a Code of Conduct and are required to disclose all relevant interests, register them with the
Chief Executive and in accordance wilh the Trust's policy withdrdw from discussion I decisions where a perceived or
actual conflict of interest arises.
All Trustees give of their time freely and no Trustee remuneration was paid during the reporting period. There are
currently seven Trustees who have overall responsibility for the Trust. During the period under consideration, ten
Trustee meetings were held.
The Trustees are responsible for the overall governance of the Trust and oversee all grant making.
The Trust's Chief Execulive, Aisling Johnston, is responsible for implementing the LFT Charitable Trust strategy and
for the management of the day-to-day operations of the Trust and its activities. The Trustees review the level of
remuneration paid to key management personnel to ensure it is at a level consistent with the role and responsibility of
the position and consistent with that olsimilar entities.
Risks are considered on an annual basis by Truslees. This involves identifying the types of Tisk, in particular those
related to the operations and finances of the Trust, priorilising them in tern)s of impact and likelihood of occurrence
and identifying means of mitigating risks. Reliance on a Single source of income continues to pose the greatest threat,
however, Trustees are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
The Trust is a member of Philanihropy Ireland and the Funders Forum Nl. The Trust is also a member of the
Association of Charitable Foundations (ACF) and the Chief Executive continues to act as convenor for the UK Family
Foundations network of over 40 independent family foundations to share and l¢am best practice.
LFT Trustees continue to promote philanthropy by sharing their personal experiences with other families who are
exploring or developing the concept of charitsble giving as a family.

LFT CHARITABLE TRUST
TRUSTEES, REPORT fconlinued)
Reference and administrative details
Registered charity name..
LFf Charitable Trust
Trustees..
Mr. Edward Aidan Lonergan
Mrs. Anne Lonergan
Mr. Gavin Lonergan
Mr. Darren Lonergan
Mrs. Clara Lewis
Ms. Jill Downing (deed of appointment dated 09104124)
Mr. Joe Mcvey (deed of appointment dated 09104124)
Chairperson-.
Mr. Gavin Lonergan
Charity Commission registration number:
NIC107J73
Registered office I Principal Office:
4 Annadale Avenue
Belfast BT7 3JH
Solicitor-
Carson McDowell LLP
Murray House
Murray Street
Belfast BTI 6DN
Auditor=
Stevenson & Wilson
22-30 Broadway Avenue
Ballymena B T43 7AA
Bankers:
Danske Bank
Donegall Square West
Belfast BTI 6JS

LFT CHARITABLE TRUST
TRUSTEES, REPORT (con¢inued)
Statement of Trustees, responsibilities
The Trustee5 are responsible for preparing the financial statements in accordance with applicable law and regulations.
Charity law requires the Trustees to prepare financial slatements for each financial period. Under that law the Tru5tee5
have prepared the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice
(United Kingdom Accounting SL2ndards and applicable law). Under Charity law the Trustees must not approve the
financial statements unless they are Satisfied that they give a true and fair view of the state of affairs of the charity and
of the incoming resources and application of resources, including income and expenditure for that period.
In preparing these fmancial statements, the TTUStees are required to:
select suitable accounting policies and apply them consistently.
observe the methods and principles in the Charities SORP-FRSI 02.
make judgements and accounting estimates that are reasonable and pnjdent.
state whether applicable accounting standards have been followed. subject to any material departures
disclosed and explained in the financial statement. and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Trnst's
transactions and disclose with reasonable accuracy at any time the financial position of the Trust and enable it to ensure
that the financial statements comply with the Charities Act (Northern Ireland) 2008. It is also responsible for
safeguardtng the assets of th¢ Trusl and hence for taking reasonable steps for the prevention and detection of fraud and
other irregularities.
In the c&se of each Trustee, at the date the Trustees. Report is approved:
so far as the T￿stee is aware, there is no relevant audit information of which the charity's auditors are unaware;
they have taken all the steps that they ought to have taken as a Trustee in order to make themselves aware of
any relevant audit information and to establish that the charity's auditor5 are aware of that inforniation.
Approved by the Board on l O June 2025 and signed on its behalf by:
in Lonergan
Chairperson and Trustee

LFT CHARITABLE TRUST
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEE OF LFf CHARITABLE TRUST
Opinion
We have audited the financial statements of LFT Charitable Trust for the year ended 31" March 2025 which comprise
the Statement of Financial Activities, Statement of Financial Position, Cash Flow Statement and notes to the financial
statements, including a summarv of significant accounting policies. The financial reporting framework that has been
applied in their preparation 15 applicable law and United Kinodotn Accounting Standards. including Financial
Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United
Kingdom Generally Accepted Accounting Practice)- (Charities SORP (FRS102)}.
In our opinion, the financial slalements:
give a tnAe and fair view of the state of the charitable trust's affairs as at 31, March 2025 and of its incoming
resources and their application for the perilxl then ended-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Charities Act (Northern Ireland) 2008.
Basis for opinion
We conducted our audit in accordance with International Stsndards on Auditing (UK) (ISAS (UK)) and applicable law.
Our responsibilities under those siandard5 are further described in the Auditor's responsibilities for the audit of the
financial statements Section of our report. We are independent of ihe Trust in accordance with the ethical requirements
that are relevant to our audit of the financial statements in the UK, in¢ludino the FRC'S Ethical Standard, and we have
fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence
we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements: we have concluded thai ihe tn￿lee$, use of the going COTbcern basis of accounting
in the preparation of the ftnancial statement5 is appropriate.
Based on the work we have perfom)e(L we have not identified any material uncertainties relating to events or conditions
that, individually or collectively, may cast significant doubt on the charity's ability to cov]tinue as a going concern for
a period of at least twelve months froTn when the flnancial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant
sections of this report.
Other information
The Trustees are responsible for the other Rnfonnation. The other information COTnprises the inforniation included in
the annual report, oth¢r than the financial statements and our auditor's Teport thereon. Our opinion on the financial
Statements does not cover the other information and, except to the extent otherwise explicitly Stated IT] our report, we
do not express any fonn of assurance conclusion thereon.
In conne¢tion with our audit of the financial statements, our responsibility is to read the other information and, in doing
so, consider whether the other information is malerially inconsistent wilh the finallcial stateTnents or our knowledge
obtained in the audit or otherwise appears lo be materially misstated. If we identify such material inconsistencies or
apparent material misstatements. we are required to deterniine whether there is a material misstatement in the financial
statements or a material misstatement of the other infornialion. If. based on the work we have perforn]ed, we conclude
that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matlers
In our opinion, based on the work undertaken in the course of the audit:
the information given in the Trustees. Report for the fmancial period for which the financial statements are
prepared is consistent wtth the financial 5tatements- and
the Trustees, Report has been prepared in accordance with applicable legal requirements.
10

LFT CHARITABLE TRUST
INDEPENDEIYT AUDITORS, REPORT (continued)
Matters on which we are required to report by exception
In the light of ihe knowledge and understanding of the Trust and its environment obtained in the course of the audit,
we have not identified material misstatements in the Trustees, Report.
We have nothing to report in respect of the following matters in relation to which the Charities Act (Northern Ireland)
2008 requires us to report to you if, in our opinion-
accounting records have not been kept by the TrusL or return5 adequate for our audit have not been received
from branches not visiled by us. or
the financial stalements are not in agreement with the accounting records and returns. or
certain disclosures of truslees, remuneration specified by law are nol made. or
we have nol received all the inforTnation and explanations we require for our audit.
Responsibilities of Trustees
As explained more fully in the trustees. responsibilities statement set out on page 9. the Trustees are responsible for
the preparation of the financial statements and for being satisfied thai ihey give a true and fair view, and for such
internal control as the Trustees determine is necessar), to enable the preparation of financial statements that are free
froTn material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are reswnsible for assessing the Trust's ability to continue as a
going concern, disclosing, as applicable, matters related to going concern and using the going concern basi5 of
accounting unless the Trustee either intends to liquidate the Trust or to cease operations, or have no realistic alternative
but to do so.
Alldilor's responsibilities for the audit of the finaneial statements
Our objectives are to obtain reasonable assurdnce about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error. and to issue an audiior's report that includes our OPiT]ion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with
ISAS (UK) will always detect a material tnis5tatement when il exists. Misstaiements can arise from fraud OT error and
are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic
decisions of users taken on the basis of these financial statelnents.
As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain professional
scepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or
error, design and perform audit procedures responsive to those risks. and obtain audit evidence that is
sufficient and appropriaie io provide a basis for our opinion. The risk of not detecting a material misstatement
resulting from fraud is higher than for one resulting from error. as fraud may involve collusion, forgery,
intentional omissions, misrepresentatlons. or the override of iniernal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances. but not for the purpose of expressing an opinion on the effectiveness of the
Trust's internal control.
Irregularities, including fraud, dre instances of non-compliance wilh laws and regulations. We design procedures in
line with our responsibilities. outlined above. to detect material misslatemenls in respect of irregularities, including
fraud. The extent to which our procedures are capable of detecting irregulariiies including fraud is detailed below..
We identified the law5 and regulations applicable to the charity through discussions with trustees and key
personnel, and from our own knowledge and experience of the charitable sector. We focused on specific laws
and regulations which we considered may have a direct material effect on the financial staternents or the
operations of the charity, including the Chariiies Act (Northern Ireland) 2008 and related legislation, while
also giving consideration to data proteclion rcgulations. eTnploymetJi law and health and safety legislation.

LFT CHARITABLE TRUST
INDEPENDENT AUDITORS, REPORT (conlinued)
Auditor's responsibilities for Ihe audit of the financial statements (conlinued)
The engagement partner ensured thai ihe engagemenl leam collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable law5 and regulations and the
team remained alert to the possibility of fraud and non-compliance throughout the audit.
We assessed the susceptibility. of the charity's financial statements to material misstatement, including
obtaining an understanding of how fraud might occur. We did so through discussions with management as to
their assessment of areas where fraud or non-compliance might occur, as well as considering the internal
controls in place to miligaie risks olfraud and non-compliaT]ce.
In order to ascertain the extent of compliance with the laws and regulations, we made enquiries of
management as to whether ihere was any actual or potential litigation, we reviewed legal correspondence. we
inspected thx correspondence and we performed analytical procedures to identify any unusual or unexpected
activity.
A further description of our responsibilities is available on the Financial Reporting Council's website at
www.frc.org.uklauditorsre5ponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely lo the charity's members, as a body. Our audit work has been undertaken so that we might
state to the Charity's members those matters we are required io state 10 them in an auditor's report and for no other
purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the
charity and the charity's members as a bod),, for our audit work, for this report, OT for the opinions we have fornied.
Peter Stevenson
Senior Statutory Auditor
for and on behalf of..
Stevenson & Wilson, Statutory Auditor
22-30 Broadway Avenue
Ballyrnena
B T43 7AA
l O" June 2025
i?

LFT CHAIUTABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE
ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2025
ijnrestrieted
Funds
Year
ended
31103125
Restricted
Funds
Year
ended
31103125
Total
Year
ended
31103125
Total
6 months
ended
31103124
Note
Incoming resources
Donation income
142285
1.046,454
1,188,739
302,930
Total income
142,285
1,046,454
1,188,739
30?.930
Resour¢e5 expended:
Charitable activities
141,175
1,040,768
1,181,943
303,108
Total expenditure
141,175
,040,768
1,181,943
303,108
Net movemen¢ in funds
i.iio
5.686
6,796
(178)
Reconciliation of funds:
Total funds brought fonvard
1,624
594
2,218
2,396
Total funds carried forward
2.734
6,280
9,014
2,218
The statement of financial activities includes all gains and1055es recognised in the period.
All income and expenditure derives from continuing activities.
'rhe notes on pagcs 16 to ? I form part of these financial statements
13

LFT CHAtUTABLE TRUST
STATEMENT OF FINANCIAL POSITIOIY / BALANCE SHEET AS AT 31- MARCH 2025
2025
2024
Note
Fixed assets
Intangible fixed assets
Tangible fixed assets
140
140
421
421
Current assets
Donations receivable
Prepayments
C&sh at bank
Total currenl assets
525,701
3,467
10,098
539,266
236,615
1,964
280,782
519,361
Current liabilities
Donations payable
Deferred income
Other creditors and accruals
Tot21 current liabilities
525,701
361,615
150,000
5,949
517,564
4,691
Net current assets
8,874
1,797
Total assets less current liabililies
io
9,014
2,218
Unrestricted funds
Restricted funds
Total charity funds
2,734
6280
9,014
1,624
594
2,218
The financial
tements were approved by the Trustees as at 10 June 2025 and signed on their behalf by..
Mr. Darren L
ergan
Trnstee
The notrs OR pagc5 16 to 21 forni pan of these financial Sthlements
14

LFT CHARITABLE TRUST
ST
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025
Year
ended
31103125
6 months
ended
3 I1Oi124
Cash flows from operating actii'ilies
Net incoming/(outgoiT]g) resources
Add.. Depreciation
Net cash inflow from operating activities
6,796
281
7,077
(178)
281
103
(Decrease)/increase in donations receivable and prepayvnents
(290,589)
191,818
Increase in donations payable, deferred income, other creditors and accruals
12,828
83.398
Net (decrease)/increase in cash for the period
{270,684)
275,319
Cash and cash equivalents at the beginning of the period
280,782
5,463
Cash and cash equivalent at the end of the period
10,098
280,782
The notes on pages 16 10 21 form part of thcse financial statements

LFT CHARITABLE TRLIST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 315T MARCH 2025
l. Trust information
The Trust was established in Northem Ireland under the Trust Deed dated 29 June 2017. The address of the
registered oifice is 4 Annadale Avenue, Belfast, BT7 )JH. The financial statements were authorised for issue by
the Board on l O June 2025.
2. Accounting policies
The principal accounting policies adopted, judgements and key" sources of estimation uncertainty in the preparation
of the financial staiements are as follows..
Basis of preparation
The financial Statements have been prepared OT) a going concern basis in accordance with Accounting and Reporting
by Charities= Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance
with the Financial Reporting Sthndard applicable in ihe UK and Republic of Ireland (FRS 102)- (Charities SORP
{FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The
reporting and functional currency is sterliT]g. The Trust meets the definition of a public benefit entity under FRS
102. Assets and liabilities are initially reco4nised at historical cost and transaction value unless otherwise stated in
the relevant accounting policy note(s).
Preparation of accounts on 2 going concern basis
The Charity generally meets tts day to day working capital requirements from its annual income. The Trustees have
obtained and reviewed cash flow forecasts for the coming year and based on these are satisfied that the Charity has
resources to prow ide a reasonable expectation that il can continue to tneet its financial obligations as they fall due
for the forese¢able future. These financial statements have therefore been prepared on a going concern basis.
Incoming resources
Donations are included in the Statement of Financial Activities when the Trust is entitled to the income, it is
probable that the income will be received and the amount can be quantified with reasonable accuracy. In addition
to the above conditions, donaiions to cover the Trust's overheads are included in the Statement of Financial
Activities on a systematic basis over the periods in which the Trust recognises as expenses the related costs which
the donations are intended to cover.
Resourees expended
Expenditure is recognised on¢e there is a legal or constrn¢tive obligation to make a paymeni to a third party, it is
probable thai settlement will be required and the amount of the obligation can be measured reliably. Charitable
expenditure comprises those costs incurred by the charity in ihe delivery of its activities and services to its
beneficiaries. It includes both costs can be allocated direaly to such activities and those costs of an indirect
nature necesJai)' to support them.
Intangible assels
Expenditure on the charity's ivebsite is capilali5ed and amortised over the period the charity is expected to benefit.
An atnortisation rate of 500/0 on a straight-line b&sis has been used for this putpose.
Tangible assets
The tangible assels of the Tnlsl Comprise of oifice equipment. Office equipmenl is depreciated at a rate calculated
to reduce it to residual value at ihe end of its e_xpeLied normal life on a straight-line basis at a rate of ?OO/o per
annum. The assets, residual values and useful lives are reviewed, and adjusled, if appropriate. at the end of each
reporting period. The effect of anj change is accounted for prospectively. Tangible assets are derecognised on
disposal or when no future ttconomi￿ benefils are expected. On disposal, the difference between the new disposal
proceeds and the carrvino amount is recognised in the statement of financial aclivities and included in "other
operating gain51(losses)"
16

LFT CHARITABLE TRLTST
NOTES TO THE FINANCIAL STATEMEIITS ILonlinued)
2. Accounting policies (conlinmed)
Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-terni highly liquid
investments with original maturities of three months OT le55 and bank overdrafts.
Short-term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at
transaction price. Financial assets, including debtors. are reviewed at the reporting date to determine if there is any
evidence of potential impainnent. Any losses arising from impairment are recognised in the income statement in
operating expenses.
Financial instruments
The Trust only has financial assets and financial liabilities of a kind that qualify a5 basic financial instruments.
Basic financial instrnments are initially recognised at trdnsaction Price and subsequently measured at their
settlement value.
Funds
Funds are classified as either unrestricted funds or restricted funds. defined as follows:
Unrestricted funds are expendable at the discretion of the Trustees in furtherance of the objects of the charity. If
parts of the unrestricted funds are eamlarked at the discretion of the Trustees for a particular purpose, they are
designated as a separate fund. This designaiion has an adrninistrative PUTP05e only and does not legally restrict the
Trustees, discretion to apply the fund.
Restricted funds are funds subject to specific requirements as to their use which may be declared by the donor or
with their authority or created through legal proc¢55es, but still within the wider objects of the TrusL
Pensions
The Trust operates a defined contribution scheme for staff. Employer contributions are charged through the income
and expenditure when incurred.
3. Critical accounting judgements and estimation uncertainty
Estimates and judgments made in the process of preparing the financial statements are.continually evaluated and
are based on historical experience and other factors. including expectatioT]s of future events that are believed to be
reasonable under the circumstances. The Trustees do not Consider that there are any critical judgTnents made in
applying the Trust's accountinu
policies or that there are any crilical accounting estimates or assumptions which
may have a significant risk of causing a material adjustment to carr)'ing avnounts of assets and liabilities within the
ne,Yt financial period.
4. Donation income
Unrestricted
Funds
Year
ended
311031?5
Restricted
Funds
Year
ended
31103125
Total
Year
ended
31103125
Total
6 months
ended
31103124
Donation inconie
142.?85
1,046,454
1,188,739
302,930
142285
1,046,454
1,188,739
302,930

LFT CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (continued)
5. Charitable activities
Unre51ricted
Funds
Year
ended
31103125
Restri¢ted
Funds
Year
ended
31103125
Total
Year
ended
31103125
Total
6 months
ended
31103124
Charitable Activities
Charitable donations
Administration costs
Wages and salaries
Trust running costs
Depreciation
Other expenses
1,040,553
215
1.040,553
19,128
108,781
11,963
281
1237
238,187
7,653
50,582
5.682
281
723
18,913
108,781
11,963
281
1237
141,175
1.040,768
,181,943
303,108
All charitable expenditure and support costs are incurred in connection with the grant-making activities of the
Charity. The granis paid during the year are classified as follows:
Total
Year
ended
31103125
Total
6 nionths
ended
31103124
Grants paid to
institutions
Grants paid to
individuals
Promotion of Health and
Wellbeing
Advancement of Education
Alleviation of Suffering &
Distress
473,878
98,400
473,878
98,400
217,990
34,532
462,275
6,000
468,275
(14,335)
1,034,453
6,000
1,040,553
238,187
Grants Tnade to institutions are considered material in the context of the Charity where they exceed 50/0 of the total
charitable expenditure. Materidl grants made ic iTlSlitutions during the year were:
Queen's UiiiN'er8ity' of Selfast Foundation
Adsum Foundation
Other grants Piiid to instilution_8
211,697
348,998
473,858
1,034,553

LFT CHARIT.4BLE TRUST
NOTES TO THE FINANCIAL s'fATEMENTS (contiiiued)
6. Transfers between fund5
Unrestricted funds ar¥ spent or applied at the discretion ot the Trustees to further any of the charity's purposes.
Unrestricted funds can be used to supplement expenditurv tnade from restricted funds.
7. Analysis of staff eosts, truslee remuneration and expenses. and the Cost of key ￿anagement personnel
Tolal
Year
ended
31103125
Total
6 months
ended
31103124
Wages and salaries
Social security costs
Ernployer pension contributions
98J40
6,061
4,380
43,662
5,007
1,913
108,781
50,582
The average number of employees during the period was 2 (2024: 1), being one full-time employee and one part-
time. There wa5 one staff member (ke}, mana(v¢m¢nt personnel) who received annualised remuneration between
£80,000 and £90,000.
None of the trustees received any remuneration noi- any reimbursement of expeT]ses during the period (2024.. Nil).
8. Intangible fixed assets
Website
Total
Cost
As at I, April 20?4
4.200
4,200
As at 31" March:025
4,200
4,200
Amortisatio
As at I" April 2024
4.200
4.200
As at 31, March 20?5
4,200
4,200
Net book value at 31. .March 2025
Net book value ai )]" 14ar-h ?024

LFT CHARITABLE 'fRtiST
NOTES TO THE FINANCIAL STATEMENTS (conlinued)
9. Tangible fixed assets
Office
Equipment
Tolal
Cost
As at I" April 2024
,405
1,405
As at 31" March 2025
1,405
,405
Depreciation
As at I" April 20?4
Depreciation charge for the period
As at 31" March 2025
984
281
984
281
1,265
1,265
Net book value at 31. March 2025
140
140
Net book value at 31" March 2024
421
421
10. Analysi5 of net assets
Unrestrieted
General
Restricted
Totsl
Fixed assets
Current assets
Current liabilities
140
7,285
(4,691)
140
539,266
(530,J92)
5Jl.981
(525,701)
Net assets at 31. March 2025
2,734
6,280
9￿14
I l. Funds of the charity,
At I. April
2024
At 31,
March 2025
Income
Expenditure
UnrestriLted funds
General fund
Restricted funds
Donations fund
1.624
142,285
(141,175)
2,734
i94
1,046.454
(1,040,768)
6,280
Tolal funds
2.218
,188,139
(1,181,943)
9,014
?0

LFT CHARITABLE TRUST
INOTES TO THE FINANC.IAL STATEMENTS (eoiitinued)
12. Related party transactions
All of the Trust's income (£1,188,739) cornprises doiialions from Alterity Investments Limited, a company
controlled by trustee5, Mr Edward Aidan Lonergan and Mrs Anne Teresa Lonergan. At the peri￿l-end donations
receivable from Alterity Investments Limited amounied to £525,701.
Included in charitable donations is £348,998 donated to The Adsum Foundation, a charity with a comrnon trustee,
Mr Gavin Lonergan. At the period-end donations payable to The Adsuwn koundation amounted to £121,837.
Included in trust runninu costs expendi￿re is rent of £9,600 which was paid to the trustee, Mr Edward Aidan
Lonergan, for the premises occupied by the Trust.
Remuneration paid to key management personnel is disclosed in note 7.
13. Funding commitments
The Trust had no uncondilional charitable funding commitments at the balance sheet date, beyond those which
have been recognised in these accounts.
14. Controlling party
During the period LFT Charitable Trust was under the conlrol of the Trustees.