COMPANY REGISTRATION NUMBER: N1603999 CHARITY REGISTRATION NUMBER: NIC107433 Limavady Community Development Initiative Ltd Company Limited by Guarantee Financial Statements 30th September 2024 NALD ON Chartered Accountants & statutory auditor 3 Limavady Road Londondery BT47 6JU .QMP
Limavady Community Development Initiative Ltd Company Limited by Guarantee Financial Statements Year ended 30th September 2024 Page Trustees, annual report (incorporating the directors, report) Independent auditor's report to the members Statement of financial activities (including income and expenditure account) 12 Statement of financial position 13 Statement of cash flows 14 Notes to the financial statements 15
Limavady Community Development Initiative Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Directors, Report) Year ended 30th September 2024 The Iruslees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for th8 year ended 30th September 2024. Reference and adminlstrativo details Registered charlty name Limavady Community Developmenl Initiative Ltd Charlty reglstratlon number NIC107433 Company registration number N1603999 Principal office and registered 24D Benevenagh Drive office Llmavady Co Londonderry 8T49 OAQ The truslees Keith Leighlon John Wilson Ann McNickle Gwynelh McQuislon Deborah Mills Richard SmOh James Herron (Retired 30th April 20241 Chief Executlve Nigel McFarland to 30th Apnl 2024 Richard Smyth from 1 st May 2024 Audltor Donaldson & Thompson Chartered Accountants & statutory auditor 3 Limav8dy Road Londonderry BT47 6JU Bankers Bank of Ireland 2 The Diamond Coleraine Co Londonderry BT52 1DE Sollcltors Martin King French & Ingram LLP 52 Catherine Street Limavady Co Londonderry BT49 9DB
Limavady Comrnunlty Development Initiative Ltd Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directors. Report) (conllnued) Year ended 30th September 2024 Structurei governance and management The organisalion is a charitable company limited by guarantee. incorporated on 6th August 2010 and accepted as a charity by HM Revenue & Customs, reference number XRS2185. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. Appolnlmenl of Executive Committee.. LCDI is govemed by an Executive Commillee elected by ils mernbers on an annual basis. Committee Induction and Training-, New Executive Committee members undergo induction training to brief them on roles and responsibilities and Iheir legal obligations under charity and company law, the committee and the decision-making processes, the strategic and operational planning processes. the organisalional structure and key organisalional aclivities. Executive Committee members are provided wilh copies of the NICVA Governance Manual which Includes the Memorandum and Articles of Associallon, Role Descriptions for Office Bearers and Commltlee members and Sub Committees, Finance Procedures and the Equal Opportunities Policy. Organisalional Slruclure.. The Executive Committee ensures Ihe good governance of the organisalion by selling its strategic objectives and policy direction through LCDI'S three-year strategic plan and monitoring progress on this through the annual operational planning process. The Committee meets every two months and the Finance and Resource Sub- Commitle6s which deal with the human and financial resources of the organisalion meet on a-monlhly basis. The General Manager, appointed by the Commiltee, manages the day io day operations of the organisation. To facililale effective operations. the General Manager has delegated authority for operational matters including the application and monitoring of strategic and operational objectives. Related Parties.. LCDI is an independent organisats'on and therefore all operations are carried out in a¢¢ordance wlth this. R15k Management.. Financial risks are assessed by the organisation through the Resources Commlttee on a quarterly and annual basis. Objectives and activities Principal aclivilies: Limavady Community Development Initiative ILCDllobjectives are to advance community development by providing facilities and amenities for and support and assistance to, community and volunlary groups and organisalions. Advance heallh and well-being relieve poverty, advance education, relieve Ihose in need by reason of youth, age, ill-heallh, disability, financial hardship or other disadvantage, advance the arts, culture and heritage, provlde facilities in the interest of social welfare for reaction and other leisure time occupalions vnth Ihe objecl of improving the conditions of life for the said residents and finally to pri)mote religious and racial harmony, equality and diversity. Achlevements and pgrfomiance LCDI have commissioned Courtney ConsultsnGy lo prepare a new slralegic plan for 2024-2028
Limavady Community Development Initiative Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directors. Report) fconllnu•d) Year ended 30th September 2024 Achlevements and pertorniance {coftllnutd) Environmental Programmes Recycle @LCDI is an environmental project which divert5 waste from landflll, supports the local community and local jobs. promotes recycling and our free collection service of preloved furniture donations helps prevent Ily tipping. During the accounting period Oclober 2023 to September 2024 we have diverted 500 lonnes of waste from landfill and have completed more than 1500 collections and deliveries. A SLA with local manufacturer. Fast House has contributed greatly lo these figures. Garden Centre @ LCDI is a partnership between LCDI and the Western Health & Social Care Trust. It provides a day opportunity for 15 adults wilh various learning disabilities, allowing them to participate in a range of horticultural activities and providing respite for clienls, families and carers. The project operates Monday- Friday and during the accounting period October 2023 to September 2024 provided 16,000 hours of supported work experience for our clients. Family Support Programmes Wrap Around School Provision @ LCDI. is a cross communily-based aflerschool's project providing wrap around OLtt of school. During the accounting period October 2023 to September 2024 we provided 20,000 hours of affordable childcare, offering full day care during school holiday to up to 48 children. Playgroup@ LCDI.. is a community-based playgroup provldlng a pre-school sesslon 5 mornlngs a week from 8.30am noon (24 spaces) which follow the pre-school curriculum. The project is inspecled annually by Social Services and ETI and provide 18.000 hours of Gare per year. Lifeslarl @LCDI is a family support programme for parents of children aged between birth and five years. which focuses on child development, nurture, and prolection. Our growing child programme along with our Family Support sessions and parenl and loddler group delivered 1 OQO hours during the accounling period October 2023 to September 2024. 'The Growing Child. programme provides advice, guidance, early intervention and signpostlng servlces. Good Morning Roe Valley @ LCDI is a project delivering a daily telephone call to older people around the borough who may otherwise hear from no one on a regular basis. The project is a signposting service as well and Is a good friend to the wider family eircle of its clients as they know that someone will be in lou¢h with their loved one each day. During the accounting period of October 2023 to September 2024, the project continues lo make an average 40 calls per day which amounted to 10,000 calls to to local older people being undertaken dunng the year. Community Meals @ LCDI provides a nutritionally balanced meal along with a range support services both on and off sile the later only being possible thanks lo the volunteers helping to deliver the service. During the accounting period of October 2023 to September 2024 an average of 150 meals are delivered weekly. This would equate lo an average of 650 meals per month, lolalling 7,800 meals for the accounting period. Daycare @LCDI provides physical, mental and social support for 15 physically disabled adults in the Limavady Borough between the ages of 18-65s. This is achieved through client led projects which educate, inform, stimulate and entertain as well as providing much needed resplte. The centre also promotes Disability Awareness and helps members develop life skills. This ultimately Improves quality of life for members and provides opportunities for interaction and socialisalion which is critical for individual health and wellbeing. The project provides more than 10,500 hours and promotes integration in Ihe community though projects such as the Christmas Soiree, Summer BBQ Banquets and regular outings.
Limavady Community Development Initiative Ltd Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directors. Report) (contlnuedj Year ended 30th September 2024 Achievements and performance f¢onUnu¢d) Community Cohesion Programmes The Volunteer Centre @LCDI provides developmental supports a range of volunt8ers in Ihe Greater Limavady Area, supporting them make a difference lo their local community. During the accounting period October 2023 to September 2024, the project provided 4,000 hours of direct volunteer support, engaging 720 individuals, R.E.A.C.H.' Is a programme designed to provide a social framework for adults living with a learning disabillty. During the accounting period October 2023 - September 2024 1.000 hours of developmental support were delivered. Community Cohesion events LCDI, Th8 slalus of LCDI as a cross communily organisation located in a shared space means that the organisalion can run events throughout the year which bring communities from throughout the locality together regardless of community. social or financial background. During the accounting period October 2023 to September 2024, we ran a large scale open event which attracted 600 participants. Community Training and Education Community Works Training @LCDI provides affordable praclical training for local community organisalions to support them undertake their services. C)unng the accounting period October 2023 10 September 2024, 300 individuals availed of a range of training including first aid. child proleclion. food safety and Hygiene, governance, and volunteer management. Baby Bank Offers pre-loved clothes, nursery equipmenl and toys to families who are participating in our programmes or who have been referred through the appropriate channels. During the accounting period October 2023 lo Sepiember 2024 the programme supported 48 volunteers and 2000 hours of volunteering Fuel stamp saving Scheme @LCDI is a project delivering in partnership with the Causeway Coast and Glens Council. a service which allows residents to save towards their heating bills During the accounting period October 2023 to September 2024 140.000 individual stamps with a cumulative value of £700,000 were Saved by residents who were budgeting to avoid fuel povety. LCDI engaged with 70 outlets across the council area lo ensur8 the scheme was accessible lo all.
Limavady Community Development Initiative Ltd Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directors, Report) {¢onllnu¢dJ Year ended 30th September 2024 Achlevements and perforniance (conllnuedj Anli-Poverty Programmes The foodbank was extremely busy during the accounting period Oclober 2023 to September 2024 and has continued lo be managed by LCDI staff & Volunteers LCDI Foodbank accept referrals from any slalulory or communitylvoluntary sector agency wilh referrals also coming from GP'S. childcare providers or housing associations. During the accounting period October 2023 to September 2024 the foodbank provided 500 emergency food parcels. Social Supermarkets after identifying a need LCDI Set up a 5elf-funded Social supemiarket in November 2020 and during the accounting period October 2023 to September 2024 have helped 160 families in their journey oul of food poverly, with a an ever growing wailing list. and re-directed 12 tons of food waste from landflll. We supported 48 volunteers who gave 2340 hours of their ts'me to the programme. The social supermarket charges a nominal fee 01 £5 per family per weekThe clients will embark on a journey not only addressing the lood poverty, bul will also allend cookery classes, budgeting classes and will have an opportunity lo gain valuable work experience to encourage them to move into further training or employment. This Project has no core funding, but is funded through council in different forms, and this year the council has directly funded LCDI as the named distributor of support for the Limavady Borough. Grant applications for the project is also essential. Donations from within the community and local businesses sustain the project day to day, and so engagement within the community and PR is very important, helping us stock shelves and maintain supplies. Milk, Eggs, Cheese elc. are purchased weekly which funs to aboul £5000 per year alone. this is funded directly from LCDI. FSnanclal revlew The results for the year are contained in th8 financial statements attached. Investment Policy. The Resources Sub-committee has considered the most appropriate policy for invesling funds and decided that a mixture of bank deposil accounts is the best approach. The investment policy Is reviewed each year by the Commiltee. Reserves Policy.. Unrestricted funds are essential to provide sufficient funds to cover any unforeseen costs which may arise and fulfil the legal obligations of the Charity in the event that current levels of income are not maintained. The reserves policy has been designed to recognise LCDI'S requirements for reserves in light of the maln risks lo the organisalion. The aim is lo provide sufficient funds lo cover any unforeseen costs which may arise, recognise the volatile grant environment as well as as allowing for the payment of any liabilities which would arise should the Charity Gease to operate. Any Gall upon the use of reserves will be al the approval of the Execub've Committee which wll examine the rationale for doing so and agree an amount where appropriate. At 30th September 2024, the level of "free reserves" excluding fixed assets and designated funds was £71,181. While this is below our ideal reserve level it does allow for liquidity and we intend lo develop further reseNes in the coming years Plans for future period8 LCDI ha5 a Strategic Plan for the period 2023-2028. We hope thls wlll allow for further growth and expansion of our services to help us achieve our mission.
Limavady Community Development Initiative Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Directors, Report) (contlnuedj Year ended 30th September 2024 Trustees. re8pon8lbllltles statement The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and Uniled Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the slate of affairs of the charitable company and the incoming resources and application of resources. including the income and expenditure, for Ihal period In preparing Ihese financial statements, the trustees are required to- select suitable accounling policies and then apply them consistently., observe the methods and principles in trie applicable Charits'es SORP; make judgmen15 and accounllng estimates that are reasonable and prudent., prepare the financial stalemenls 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 charity's transactions and disclose with reasonable accuracy at any tim8 the financial position of the Gharily and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charily and henco for taking reasonable steps for the prevenlion and deleclj.on of fraud and other irregularities. The charity's tnjstees are covered by insurance indemnl'ng them when acts'ng in their oapacity as Iruslees of the charity. Audilor Each of the persons who is a trustee at the dale of approval of U)is report confimis that.. so lar as they are aware, there is no relevant audll Information of which the charitvs auditor is unaware., and they have taken all steps that they ought to have taken as a Iruslee to make themselves aware of any relevant audit information and to establish thal the charltvs auditor Is aware of that information. A resolution lo reappoint Donaldson & Thompson as auditors will be proposed at the forthcoming Annual General Meeting. Small company provlslons This report has been prepared in accordance with ihe provisions applicable to companies entitled to the small companies exemption.
Limavady Community Development Initiative Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directors. Report) (¢ontlnuod) Year ended 30th September 2024 The Iruslees, annual report lin¢orporaling Ihe directors. report) was approved on 8th July 2025 and signed on behalf of Ihe board of Irustees by- Jofift A Wilgoh Keith Leighton Trustee John Wilson Trustee
Limavady Community Development Initiative Ltd Company Limited by Guarantee Independent Auditor's Report to the Members of Limavady Communlty Development Initiative Ltd Year ended 30th September 2024 Oplnlon We have audited the financial slalements of Lim8vady Community Development Inilialive Lld Ilhe 'charily') for the year ended 30th September 2024 which comprise the statement of financial acllvitles (including income and expenditure account), statement of financial position, statement of cash flows ané the relaled notes. including a summary of significant accounling policies. The financial reporting framework Ihal has been applied in their preparation is applicable law and United Kingdom Accounting Standard5, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland {Unil&d Kingdom Generally Accepted AcGounling Practice). In our opinion the financial 5tatements.' give a true and fair view of the slate of Ihe charily's affairs as at 30th September 2024 and of its incoming resources and application of resources. including its income and expenditure, for the year then ended,, have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., have been prepared in accordance with the requirem8nls of the Companies Act 2006. Bas18 for opSnlon We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs {UK)l and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for Ihe audit of the financial slatemenls section of our report. We are independent of the charlly in accordance with the ethical requirements that are relevant to our audit of the financial slalements in the UK, including the FRC'S Ethical Standard, and the provisions available for small entities, in the circumstances sel out below, and we have fulfilled our other 8lhical responsibilities in accordance with these requirements, We believe that the audit evidence we have oblained is sufficient and appropriate to provide a ba515 for our opinion. In common with many olher businesses of our size and nature we use our auditors lo prepare and submit returns lo the tax aulhorities and assisl with Ihe preparation of the financial stalemenls. Concluslons relating to golng concern In audillng the financial slalemenls. we have concluded thal the Iruslees, use of the going concern basis of aG¢ounting in the preparation of the financial statements is appropriate. Based on Ihe work we have performed. we have not identsfied any malerial uncertainties relating to 8vents or conditions that, individually or colleclively, may cast significant doubt on the charity's abilily to continue as a going concern for a penod of at least Nvelve months from when the financial slalemenls are aulhorised for issue. Our responsibilities and the respon5ibililies of the trustees with respect to going concem are described In the relevant sections of this report.
Limavady Community Development Initiative Ltd Company Limited by Guarantee Independent Auditorfs Report to the Members of Limavady Communlty Development Initiative Ltd (eonllftu•d) Year ended 30th September 2024 oth8r Informatlon The other inforrnalion comprises Ihe information included in the annual report, other than the financial statements and our auditor's report Ihereon. The tru5tee5 are responsible for the other informalS0n. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly staled in our report. we do not express any form of assurance conclusion thereon. In connection 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 materially inconsistent with the financial statements or our knowledge obtsined in Ihe audit or otherwise appears to be materially misslaled. If we identify such material inconsistencies or apparenl material misslalements, we are required to determine whether there is a material misstatement in the flnancial slalemenls or a material misslalemenl of the other information. If, based on the work we have performed. we conclude that there is a material misstatement of this other information, we are required to report Ihal faGt. We have nothing to report in this regard. Opinions on other matters prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the Gouf5e of the audlt.. the information given in the trustees, report for Ihe financial year for vthich the financial statements are prepared is consistent with the financial statements., and the trust8es' report has been prepared in accordanc8 With applicabl8 legal requirements. Matters on which we are required lo report by exception In the light of the knowledge and understanding of the charity and Its envlronmenl obtalned In the course of the audit, we have not identified material misstalemenls in the trustees, report. We have nothing to report in respect of Ihe following malters in relation to which Ihe Companies Act 2006 requires us to report lo you if, in our opinion.. adequate accounting records have not been kepl. or retums adequate for our audit have not been received from branches not visited by us.. or the financial statements are not in agreement with the accounting records and returns,. or certain disclosures of trustees. remuneration specified by law are not made,. or we have not received all the inform81ion and explanats'ons we require for our audit- or the Iruslees were not enliued to prepare the financi81 statements in accordance with the small companies regime and take advantage of Ihe small companies. exemptions in preparing the directors, report and from the requirement lo prepare a strategic report.
Limavady Community Development Initiative Ltd Company Limited by Guarantee Independent Auditor's Report to the Members of Limavady Community Development Initiative Ltd {¢ontlnu•dJ Year ended 30th September 2024 Responsibilities of tru5teo$ As explained more fully in the trustees. responsibilities slatement, the trustees (who are also th8 directors for the purposes of company law) are responsible for the preparation of the financial slalemenls and for being satisfied that they give a true and fair view, and for such internal control as the Iruslees delermine is n6C8ssary lo enable the preparation of financial statements Ihal are free from material misstalemenl, whether due lo fraud or error. In preparing the fSnanclal slatemenls, the trustees are responsible for assessing the charitvs ability lo continue as a going concern, disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the Iruslees either Inlend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Audltorfs responslbllltles for the audlt of the flnanclal statements Our objectives are lo obtain reasonable assurance about whether the financial slatemenls as a whole are free from material misstalemenl, whether due lo Iraud or error, and to issue an auditor's report Ihal includes our opinion. Reasonable assurance Is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISA5 (UK) will always detecl a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expecled to influence Ihe economic decisions of users taken on the basis of these financial statements. Irregularities. including fraud. are instances of non-compliance wtth laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extenl lo which our procedures are capable of detecting irregularities, including fraud is detailed below: Because of the inherenl limitations of an audit, there is a risk Ihal we wtll not delect 811 irregularities, including those leading lo a material misslalement in Ihe financial statements or non-compliance with regulation. This risk Increases the more that compliance with a law or regulation is removed from the events and transactions reflecled in the financial slalements, as we will be les5 likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due lo fraud rather than error, as fraud involves intenlional concealment, forgery, GoIIu5ion, omission or m isrepresenlation. As part of an audit in accordance wilh ISAS (UK), we exercise professional judgment and maintain professional sceplicism throughout the audit. We also.. Identify and assess the risks of material misstatement of the financial slatemenls, whether due lo fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate lo provide a basis for our opinion. The risk of not delecling a material misslalemenl resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, lorgery, intentional omissions, misrepresenlations, or the override of internal control. Obtain an understanding of internal conlrol felevanl to ihe audit in order to design audit procedures that are appropriale in the circumstances. but not for the purpose of expressing an opinion on the effectiveness of the internal control, Ev8lu8le the appropriateness of accounling pollcies used and the reasonableness of accounting eslSmates and related disclosures made by the trustees, 10-
Limavady Community Development Initiative Ltd Company Limited by Guarantee Independent Auditor's Report to the Members of Limavady Community Development Initiative Ltd Iconllnu•dJ Year ended 30th September 2024 Conclude on the appropriateness of the truslees, use of the going concern basls of accounting and, based on the audit evidence obtained, whether a material uncertainty exlsts related lo events or conditions that may casl significant doubt on the charills ability to continue as a going concern. If we conclud8 that a malerial uncertainly exisls, we are required lo draw attention in our auditor's report to the related disclosures In the flnancial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up lo the dale of our auditor's report. However, future events or conditions may cause the charity lo cease to conllnue as a going concern. Evaluale the overall presentation, slruclure and content of the financial slatements, inclLJding the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentalion. We communicate with those charged with governance regarding, among other matters, the planned scope and liming of the audil and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report This report is made solely to the charitls members, as a body, in accordance with Chapler 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slal8 to the charity's members those matters we are required to slate to them in an audilor's report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other Ihan the charity and the charilvs members as a body, for our audit work. for this report. or for the opinions we have formed. Alislair Sterrilt (Senior Slatulory Audiiof I For and on behalf of Donaldson & Thompson Chartered Accounlanls & slalutory auditor 3 Limavady Road Londonderry BT47 6JU 8th July 2025 11
Limavady Community Development Initiative Ltd Company Limited by Guarantee Statement of Financial Actlvltles (Including income and expenditure account) Year ended 30th September 2024 2024 Reslncled funds Total funds 2023 Unrestricted funds Total funds Note Income and endowrnent$ Donations and legacies Charitable aclivilies Investment income 8,991 528.379 44,918 71,717 61 53,909 600,096 72 44,974 767,989 74 Total income 537.381 116,696 654,077 813,037 Expenditure Expenditure on charitable activities Total expendlture 9.10 663,206 166,492 829.698 837,049 663,206 166,492 829.698 837,049 Net expenditure and net movement In funds (125,8251 (49,796) (175,621) (24,0121 Reconclliatlon of funds Total funds brought forward Total funds carrled forward 767.777 481,855 1,249,632 1,074,011 1,273,644 641,952 432,059 1,249,632 The slalement of financial a¢livilies includes all gains and losses reGognised In the year. All incorne and expenditure derive from conb"nuing activities. Th• notes on pages 15 to 28 fom) part of these flnanclal stat•ment8. 12-
Limavady Community Development Initiative Ltd Company Limited by Guarantee Statement of Flnancial Position 30th September 2024 2024 2023 Note Fixed assets Tangible fixed assets 13 253,206 248,606 Current 455ets Deblors Cash at bank and in hand 14 189,759 1,339,777 1,529,536 144,012 1,545,693 1,689,705 Credltors: amounts falling due wlthln one year Net current asset5 16 695,231 688.679 834,305 1,001,026 Total assets less Current liabilities 1,087,511 1,249.632 Creditors: amounts falling due after more than one year 17 13,500 Nel assets 1,074,011 1,249,632 Funds of the Charity Reslricled funds Unrestricted funds 432,059 641,952 481.855 767.777 Total charity funds 21 1,074,011 1.249.632 These flnanci81 statements have been prepared in accordance with the provisions applicable lo companies subject to the small companies, regime. These financial stalemenls were approved by the board of Irustees and authorised for issue on 8th July 2025, and are signed on behalf of the board by- Kettk£• Jofih A W,, Keith L8ighlon Trustee John Wilson Trustee The notes on pagès 15 to 28 form part of theso flnanclal statements. 13-
Limavady Community Development Initiative Ltd Company Limited by Guarantee Statement of Cash Flows Year ended 30th September 2024 2024 2023 Note Cash flows from operating activities Net expenditure (175,621 > (24,012) Adjustments for.. Depreciation of tangible fixed assets Other interest receivable and similar income Interest payable and similar charges Accrued income 28,692 (721 3,583 {39,800) 26,491 {741 3,889 14,2771 Changes in.. Trade and other debtors Trade and other creditor5 (4,622) 16,879 48,197 (26,134) 24.080 Cash generated from operations (170,961) Interest paid Interest received 13,583) 72 13.8891 74 Nel cash (used in}Ifrom operating activities (174.472) 20,265 Cash flows from investing activiti85 Purchase of tangible assets Proceeds from sale of tangible assets Net cash used in investing activities (33,5921 300 (6,8251 133,292) 16.8251 Net (decrease)Ilncrease In cash and cash equivalents Cash and cash equlvalents at beginnlng of year Cash and cash 8qulvalents at end of year (207,764) 1,541,971 15 1,334,207 13,440 1.528,531 1,541,971 Tho notes on pag85 15 to 28 form part of these flnancSal stat•mènt8. 14-
Limavady Community Development Initiative Ltd Company Limited by Guarantee Notes to the Financial Statements Year ended 30th September 2024 General Inforniatlon The charity 15 a publi¢ benefit entity and a private company limiled by guarantee, r89islered in Northern Ireland and a r8gislered charity in Northem Ireland. The address of the registered office Is 24D Benevenagh Drive, Limavady, Co Londonderry, BT49 OAQ. Statement of compllance These finanGial stalemenls have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in Ihe UK and the Republic of Ireland,, the Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (Charities SORP {FRS 102)) and the Companies Act 2006. Accounting policies Basis 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 flnancial slalements are prepared in slerllng. which is the functional currency of the entity. Golng concèrn There are no material uncertainties about Ihe charills ability to continue. Judgements and key sources of eslimation uncertainty The preparatlon of the financial slalemenls requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectalions of future events Ihal are believed to be reasonable under the circumstances. Fund acGountlng Unrestricted funds are available lor use at the discrelion of the trustees to further any of the charity's purposes. Designated lunds are unrestricted funds earmarked by Ihe trustees for parlicular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes. restricted income funds or endowment fund5. 15-
Limavady Community Development Initiative Ltd Company Limited by Guarantee Notes to the Financial Statements (¢ontlnu•dJ Year ended 30th September 2024 Accounting pollcle8 fcontlnue Incoming resources Income All income is included in the statement of financial activities when the charily is enlilled lo the income. any performance relaled condilions attached have been met or are fully within the control of the charity, the income is considered probable and the amount Can be quantified with reasonable accuracy. The folloving specific policies are applied lo parlicular categories of income.. Donations and legacy income is received by way ol donations. legacies, grants and gifts and is included in full in the Stalemenl of Financial Activities when receivable. Where legacies have been notified lo the charity bul the criteria for income recognition have not been mel, the legacy 15 Irealed as a contingent asset and disclosed if material. Granls, where entitlement is not conditional on the delivery of a specific performance by the charily, are recognised when the charily become5 unconditionally enlilled lo the granl. Donated services and facilities are included al the value to the charity, being the amount the charity would have been willing to pay lo obtain services or facilities of equivalent economic benefit on the open market. Investment income is included when re¢eivable. Income from charitable trading activity is accounted for when earned. Income from grants. where related to perfomiance and specific deliverables, are acwunted for as the charity earns the right to consideration by its performance. Resources expended Expenditure Expenditure is recognised on an accruals basi5 as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as parl of the expenditure to which it relalos.. Costs of raising funds comprise the costs associated with attracting donations. grants and legacies and the costs of trading for fundraising purposes. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Other expenditure includes all expendlture that is neither relaled to raising funds for the charity nor part of ils expenditure on charitable aclivilies. All costs are allocaled between the expendilure categories of the SOFA on a basis deslgned lo reflect the use of the resource. Costs relating lo a particular activity are allocated directly, others are apportioned on an appropriate basis. as sel out in the noles to the accounts. 16-
Limavady Community Development Initiative Ltd Company Limited by Guarantee Notes to the Financial Statements fcon11huj Year ended 30th September 2024 Accounting pollcies (conllnued) Tangible assets All fixed assets are initially recorded at cost less accumulated depreciation and accumulated ImpaSrment loss. Cost includes all costs that are directly altribulable to bringing the asset into working condition for ils intended use. Depreciation Oeprecialion is calculated so as to wrile off Ihe cost or valualion of an asset. less its residual value, over the useful economic life of that asset as follows.. Freehold property Molor vehicles Equipmenl 2% straight line 250/¢b reducing balance 100/0 slraighl line Impalrmenl of flxed assets A review for indicators of impairment is carried out at each reportlng dale. wllh the recoverable amount being estimated where such indicalors exisl. Where the carrwng value exceeés the recoverable amounl. the asset is impaired accordingly. Prior impaimients are also reviewed for possible reversal at each reporting dale. For the purposes of impairmenl testing. when it is not possible lo eslimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash- generating unil lo which the asset belongs. The cash-generating unil is the smallest identifiable group of assets that includes the asset and generates cash inflows Ihal largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwll. the goodwill acquired in a business combinalion is, from the acquisition date. allocated to each of the cash-generaling units that are expected lo benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned lo Ihose units. Government grants Government granls are COgnised at the fair value of the asset recelved or receivable. Grants are not recognised until there is reasonable assurance that the charity will Comply with the conditions attaching lo them and the granls will be received. Where the grant does nol impose specified future perfomiance-relaled conditions on the recipient, il 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 mel. Where grants received are prior to satisfwng the revenue recognition criteria, they are recognised as a Ilability. Flnanclal Instrumonts A financial asset or a financial liability is recognised only when the Gharlty becomes a party to the contractual provisions ol the Instrument. 17-
Limavady Community Development Initiative Ltd Company Llmited by Guarantee Notes to the Financial Statements IconllnutJ Year ended 30th September 2024 Accountlng pollcles (contlnued) Financial Inslruments (conllnued) Basic financial instruments are initially recognised at Ihe amount receivable or payable including any related transaction costs. Current assets and current Ilabllllles are subsequently measured at the cash or other consideration expected lo be paid or received and nol discounted. Debt instrumenls are subsequenlly measured at amortised cost. Where investments in shares are publicly Iraded or their fair value can olherwlse be measured reliably. the investment is subsequently measured at fair value with changes in fair value recognised in income and expendilure. All oih8r such inveslmenls are subsequently measured al cost less impairment. Other financial instruments, including derivatives. are initially recognised al fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rale of inleresl for a similar debt instrument. Other financial instruments are subsequently measured al fair value, with any Ghanges recognised in the statement of financial aclivities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured al cost or amortis8d cost are reviewed for objective evidence of impairment at the end of each reporting dale. If there is objective evidence of Impairment, an impairrnent loss is recognised under Ihe appropriate heading in the slalemenl of financial activities in which the initial gain was recognised. For all equity instnjments regardless of significanc6. and other financial assets that are individually significant. these are assessed individually for impairment. Olher financial assets are ellher assessed individually or grouped on Ihe basis of similar credil risk characteristics. Any reversals of impairment are recognised Immediately, to Ihe 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 impaimienl not previously been recognised. Deflned contrlbullon plans Conlribulions lo defined contribution plans are recognised as an expense in Ihe period in which the related service is provided. Prepaid contributions are recognised as an asset lo the extent that the prepayment will lead to a reduction in future payments or a cash refund. Contributions to defined contribution plans and associated liabilities are allocated lo activities and between reslricled and unrestricted funds on the basis of the connected payroll expense. When onlribullons are not expected to be settled wholly within 12 months of the end of the reporting dale in which the employees render the related service, the liability is measured on a discounled present value basis. The unwlndlng of the dlscounl is recognised as an expense in the period in which it arises.
Limavady Community Development Initiative Ltd Company Limited by Guarantee Notes to the Financial Statements l¢onilnu¢(l) Year ended 30th September 2024 Llmlted by guarantee Limavady Community Development Initiative Ltd Is a company limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to Ihe assels of the charitable company in the event of its being wund up while he or she is a member, or wilhin one year after he or she ceases to be a member. Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2024 Donatlons Donations - Daycare Service5 Donations - After Schools Donations- Social Economy Donations- Community Transport Donations - Volunteer Bureau Oonalions - Volunteer Bureau No 2 Foodbank Donations - Garden Centre l Greenshed Donalions - Overheads 5,156 200 2,150 1,000 5,156 200 2,150 1,000 2,400 42,518 175 310 2.400 42,518 175 310 8,991 44,918 53,909 Unrestricted Funds Restricted Tot81 Funds Funds 2023 Donations Donations - Daycare Services Donations - After SGhools Donations - Social Economy Donations- Community Transport Donations- Volunteer Bureau Donations- Volunteer Bureau No 2 Foodbank Donations- Garden Centre l Greenshed Donations - Overheads 4,637 4,637 200 200 9,600 26.487 9,600 26,487 4,050 4,050 8,887 36,087 44,974 19-
Limavady Community Development Initiative Ltd Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 30th September 2024 Charltable actlvltles Unrestricted Funds Restricted Total Funds Funds 2024 other income from charilable activities - Lifestart Other income from charitable activities Daycare Services Other income from charitable aGlivitie5 Play Group Other income from charitable activities - After Schools Olher income from charitable activities - Social EGonomy Other income from charitable activibes - Elderly Services Other income from charitable acts'vities - Community Transport Other income from charitable activities - Refurnish Limavady Shop Other income from charitable activili'es - Glasslcard Recycling Other income frown charitable acllvltles - Garden CentrelGreen Shed Other income from charitable activities - Overheads Other income from charitable activities - N8w Deal Fuel Stamps 2 Other income from charitable activits'es - Community Works Training Other income from charitable acts'vities - Volunteer Burea Other income from charilable activities Volunteer Bureau No 2 Other income from charitable activities Family Centre Other income from Gharilable aclivllles - Equal Project Other income from charitable activlties - Reach & Hen's Shed 8,370 8,370 79.431 67,620 95,504 79,431 82,361 95,504 14,741 43,484 43,484 2,982 2,982 23,499 23,499 47,792 47,792 31.952 1,500 33,452 28,746 49,719 28,746 49,719 27,960 27,960 6,357 6,357 976 32,356 33,332 5,047 5,047 17,310 14,750 32,060 600,096 528,379 71,717 -20-
Limavady Community Development Initiative Ltd Company Limited by Guarantee Notes to the Flnanclal Statements fconllnued) Year ended 30th September 2024 Charitable activities (¢ontlnu•d) Unrestricted Funds Restricted Total Funds Funds 2023 Other income from Gharilable activitie5 Lifeslart Other income from charitable activities - Daycare Services Other income from charilable aclivilies - Play Group Other income from charitable aclivitios After Schools Other income from charilable activities Soclal Economy Olher Income from charitable activits'es Elderly Services Other income from Charitable activities - Community Transport Other income from charitable activities - Refurnish - Limavady Shop Other income from charitable activities - Glasslcard Recycling Other income from charitable activities - Gard8n CenlrelGreen Shed Other income from charitable aclivities - Overheads Other income from charitable activities New Deal Fuel Stamps 2 Other income from charitable activits'es - Community Works Training Other income from charitable 8¢1ivilies - Volunteer Bureau Other income from charitable aclivities - Volunteer Bureau No 2 Other income from charitable activities Family Centre Other income from chantable activilies - Equal Project Other Income from charitable activities - Reach & Hen's Shed 13,980 13.980 73,280 61,231 102.420 73,280 61,231 102,420 19.480 19,480 19,463 19,463 20,959 20,959 56.527 56,527 31,565 31,565 26,934 88,832 26,934 88,832 25,025 25,025 4,003 4,003 64,597 64,597 6,607 6,607 13,734 13.734 132,663 132,663 6,689 6,689 550,142 217,847 767,989 Investment Income Unrestricted Funds Reslricled Total Funds Funds 2024 Bank interest receivable - Unrestricted funds Bank interest receivable - Restricted funds 11 61 61 61 72 21
Limavady Community Development Initiative Ltd Company Limited by Guarantee Notes to the Financial Statements (rontlnued) Year ended 30th September 2024 Investment Income fcgnllftu•dl Unrestricted Funds Restricted Total Funds Funds 2023 Bank interest receivable - Unrestricted funds Bank interest receivable - Reslricled funds 13 13 61 61 13 61 74 Income by funder 2024 After School Fees- Parents Contributions Arts Council Causeway Coast & Glens Borough Council Binevenagh & Coast Lowlands Clear Project Community Development & Health Network Departm8nl for Communilies Triangle Coast Mini Bus Invoices Other Income & Donations Pathways Fund Refurnish Limavady Social Economy Feeding Britain The National Lollery Western Education & Library Board Western Health & Social Care Trust Amoun15 Deferred 94,134 330 111,508 1,800 5.000 2,400 26,582 2,651 1,200 23.500 47,701 22,911 47.792 60,317 4,000 9.750 66,653 103.504 22,344 654,077 -22-
Limavady Community Development Initiative Ltd Company Limited by Guarantee Notes to the Financial Statements (conllnu•dJ Year ended 30th September 2024 Exp8ndltur8 on charltable acllvltles by fund type Unreslricled Funds Restricted Tolal Funds Funds 2024 Lifeslart Daycare services Playgroup Afterschools Social Economy Slepchange Elderly services LCDI Community Transport Limavady Volunteer Centre LCDI- Roevalley Food bank & Social Inclusion Programmes Refurnish - Limavady shop Glass I Card recycling Garden centre l Greenshed Overheads Fuels Stamps 2 Community Works training Family C8nlre Equal Project Reach & Hen's Shed 18,331 18,331 92,995 83,506 86,688 50,249 2,468 4,160 22,645 49,870 92,995 68.765 86,688 50,249 2.468 4,160 22.645 976 14,741 48,894 69,779 69,779 68,400 18,907 4,796 213,227 7,413 1,238 7,708 68,400 18,907 4,796 213,227 7,413 1,238 7.708 12,571 14,747 27.318 663,206 166,492 829,698 Unreslri¢led Funds Restricted Total Funds Funds 2023 Lifeslart D8ycare services Playgroup Afterschools Social Economy Stepchange Elderly services LCDI Community Transport Limavady Volunteer Centre LCDI- Roevalley Food bank & Social Inclusion Programmes Refurnish - Limavady shop Glass I Card recycling Garden centre l Greenshed Overheads Fuels Stamps 2 Community Works training Family Centre Equal Project Reach & Hen's Shed 9,334 9,334 105,035 55,345 144.672 28.559 105,035 55.345 144,672 28,559 8,084 27,984 8,084 27,984 50,329 50,329 33,320 33,320 61,006 35,252 5,813 113,773 10.159 4,418 18.090 109.792 16,084 61,006 35,252 5.813 113,773 10,159 4,418 18,090 109.792 16,084 624.115 212.934 837,049 -23-
Limavady Community Development Initiative Ltd Company Limited by Guarantee Notes to the Financial Statements {¢on*nuedJ Year ended 30th September 2024 10. Expendlture on charltable actlvltles by activlty type Activits'es underlaken Total funds directly 2024 Total fund 2023 Lifeslart Daycare servlces Playgroup Afterschools Social Economy Slepchange Elderly services LCDI Community Transport Limavady Volunteer Centre LCDI- Roevalley Food bank & Social Inclusion Programmes Refurnish - Limavady shop Glass I Card recycling Garden centre l Greenshed Overheads Fuels Stamp5 2 Community Works training Family Centre Equal Project Reach & Hen's Shed 18,331 92.995 83.506 86.688 50,249 2,468 4,160 22.645 49,870 18,331 92,995 83,506 86,688 50,249 2,468 4,160 22,645 49,870 9.334 105,035 55,345 144,672 28.559 8,084 27,984 50,329 69,779 68,400 18,907 4,796 213,227 7,413 1.238 7.708 69,779 68,400 18,907 4,796 213,227 7,413 1,238 7,708 33,320 61,006 35,252 5,813 113,773 10,159 4,418 18,090 109.792 16.084 27.318 27,318 829,698 829,698 837.049 11. Net expendlture Nel expenditure Is slated after ¢hargingl{crediling)'. 2024 2023 Depreciation of tangible fixed assets 28,692 26,491 12. Staff costs The lolal staff cosls and employee benefils for the reporting period are analysed as follows.. 2024 2023 Wages and salaries Social securily costs Employer conlrityullons lo penslon plans 468,566 25,924 7,186 552,421 28.617 7,941 501,676 588,979 The average head count of employees during th8 y8ar was 31 (2023: 37). The average number of full-time equivalent employees during the year is analysed as follows.. 2024 No. 2023 No. Number of staff - 31 37 -24-
Limavady Community Development Initiative Ltd Company Llmited by Guarantee Notes to the Financial Statements (conllnuedj Year ended 30th September 2024 12. Staff cos1$ (¢ontlnued) No employee received employee benefits of more than £60.000 durin9 the year (2023., Nil}. Key Management Personnel Key managemenl personnel include all persons that have authority and responsibility for planning. directing and controlling the a¢livilies of the charity. The total compensation paid lo key management personnel for services provided lo the charily was £37,97212023'.£51.982). 13, Tangible flxed assets Land and buildings Motor vehicles Equipment Total Cost At 1 Ocl 2023 Additions Disposals At 30 Sep 2024 Depreclatlon At 1 Oct 2023 Charge for the year Disposals At 30 Sep 2024 Carrylng amount At 30 Sep 2024 At 30 Sep 2023 199,982 75,520 201,928 33,592 477,430 33,592 (3,000} 508,022 (3,000) 72.520 199.982 235,520 48.068 4,050 62,080 3,461 {2,700) 62,841 118,676 21,181 228,824 28,692 <2,700) 254,816 52.118 139,857 147,864 9.679 95,663 253,206 248,606 151,914 13,440 83,252 14. Debtors 2024 2023 Trade debtors Amounts owed by group undertakings Prepayments and accrued income Other debtors 76,453 54,870 50,649 7,787 90,774 24.100 21,076 8,062 189,759 144,012 15. Cash and cash equSvalent8 Cash and cash equivalents comprise the following-, 2024 2023 Cash at bank and in hand Bank overdrafts 1,339,777 (5,570) 1,334,207 1,545,693 13,7221 1.541,971 -25-
Limavady Community Development Initiative Ltd Company Limited by Guarantee Notes to the Financial Statements {conllnu) Year ended 30th September 2024 16. Credltors: amounts falllng due wlthln one year 2024 2023 Bank loans and overdrafts Trade creditors A¢¢ruals and deferred income Social security and other taxe5 Other creditors 5,570 37,922 582,213 6,574 62,952 3,722 33,082 580,888 7,154 63.833 695,231 688,679 17. Credltors: amounts falllng due after more than one year 2024 2023 Accruals and deferred income 13,500 18. Deferred Income 2024 2023 Amount released lo income Amount delerred In year At 30th September 2024 (1,500) 15,000 13,500 19. PensSons and other post retlrement beneflts Defined contribution plans The amoLtnt recognised in income or expenditure as an expense In relatlon to deflned contribution plans was £7,186 {2023'. £7.941). 20. Government grants The amounts recognised in th8 financial statements for govemment grants are a5 follows.. 2024 2023 Recognised in creditors.. Deferred govemment grants due after more than one year 13,500 -26-
Limavady Community Development Initiative Ltd Company Limited by Guarantee Notes to the Financial Statements l¢onflnwd) Year ended 30th September 2024 21. Analysls of charllable funds Unrestricted funds At Income Expendilure 30 Sep 2024 At 1 Oct 2023 General funds Designated Funds 422,777 345,000 537,381 (663,206} 296,952 345,000 767,777 537,381 {663.2061 641,952 Al Income Expenditure 30 Sep 2023 At 1 Ocl 2022 General funds Designated Funds 487.850 345,000 559.042 (624,1151 422,777 345,000 832.850 559,042 (624,1151 767,777 RestrlGted funds At Income Expenditure 30 Sep 2024 At 1 Oct 2023 Restricted Funds 481,855 116,696 <166,4921 432,059 Al Income Expenditure 30 Sep 2023 At 1 Oct 2022 Re51rlcled Funds - 440,794 253,995 (212,9341 481,855 22. Analysls of net assets between funds Unreslricled Funds Reslricled Total Funds Funds 2024 Tangible fixed assets Currenl assets Creditors less than 1 year Credltors greater than 1 year Net as¥¢t8 225.771 27,435 542.145 987,391 (125.9641 (569,267) {13,500} 432,059 253.206 1,529,536 (695,231) {13.500) 1,074,011 641,952 Unrestncted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 215.752 637,288 (85,263) 32.854 1,052,417 1603,4161 248,606 1,689,705 {688,679) 767,777 481,855 1,249,632 -27-
Llmavady Community Development Initiative Ltd Company Limited by Guarantee Notes to the Flnancial Statements f¢ontlnu¢d) Year ended 30th September 2024 23. Ethlcal standards In common wth many other businesses of our size and nalure we use our auditors lo assist with the prep8ration of the financial slalemenls. 24. Analy818 of changes In net debt At At 1 Oct 2023 Cash flows 30 Sep 2024 Cash al bank and in hand Bank overdrafts 1.545,693 {3.722) 1,541,971 <205,9161 1,339,777 (1,848) {5,5701 (207.764) 1,334,207 25. Related partles Limavady Community Development Initiative Limited ILCDI Ltd) is the sole member of Roe Valley Community Property Limited (RVCP Ltd), a company limited by guarantee. inGorporated in Northern Ireland. RVCP Ltd provided caterfng services to the value of £14,394 {2023'. £11,871) lo LCDI Ltd during the year ended 30 September 2024. There was a balance of £1,282 (2023.. £1,909) owed lo RVCP Ltd from LCDI Ltd al 30 September 2024. During the year ended 30 September 2024, LCDI Ltd was charged a total of £19,505 12023.. £21,162) in respect of rent, service charges and other services by RVCP Ltd. At 30 September 2024, the amounl owed lo RVCP Ltd in relation lo rent, seNice charges and other seryices was £2,107 {2023'. £2501. During the year ended 30 September 2024, LCDI Ltd received a total of £48,000 (2023.. £48,000) in respect of service charges and other serwces from RVCP Ltd. Al 30 September 2024, the amount due from RVCP Ltd in relation to service charges and other services was £58.25912023'. £26,259). 26. Deslgnated funds Designated funds, as dlsclosed within Ihe Analysi$ of Charitable Funds note. refers to that part of unrestricted funds which the dir8clors have allocated for the purpose of developing specific future projects and future expenditure on particular capital assels. -28-