Company Number: N1663825
Charity Number: NIC107639
Loafair Community Assoclation Ltd
(A ¢ompany limlted by guarantee)
Financlal statoments
for the year ended 31 March 2025

Leafair Community Association Ltd
(A company limited by guarantee)
Contents
Page
Legal and Adiniiiislrative Information
Directors Report
Iiidependeiit Examiiier's Report
Statemeiit of Fiiiancial Activities
Balance Slieet
Notes to the accouiits
9-15

Leafair Community Association Ltd
(A company limited by guarantee)
Information
Directors
Yvonne Graliam
Liam Griffin
Louis Mccleiiaghan
Julie McDonald
Gerry M¢Monagle
Edward Breslin - Appointed 30 Septeinber 2024
Company Number:
N1663825
Charity Number:
NIC107639
Registered Office
60a Leafair Park
Derry
BT48 8JT
Accountants
McGroarty Mccafferty & Company Ltd
Accountants & Tax Consultants
2 Carlisle Terrace
Derry
BT48 6JX
Audltors
McGroaty McCaff¢ty & Company
Registered Auditors
2 Carlisle Terrace
Derry
BT48 6JX
Bankers
AIB (NI)
Meadowbaiik
Strand Road
Derry
BT48 7TN
Solicitors
MacDermott, McGurk & Partners
Solicitors
12 Clarendon Street
Derry
BT48 7ET
Page I

Leafair Community Association Ltd
(A company limited by guarantee)
Report to the Directors for the year ended 31 March 2025
Tlie directors present their report and the financial stateinents for the year ended 31 March 2025. The directors of
Leafair Commuiiity Association Ltd for the purpos¢s of company law and who s¢rved during th¢ year and up to
t'lie date of this report are as follows:
Yvoiine Grahain
Liain Griffin
Louis Mcclenaglian
Julie McDonald
Gerry Mcmoiiagle
Edward Breslin - appointed 30 September 2024
Our Alms aiid Objcctivcs
Pur
oses and Aims
Leafair Coinmunity AssoGiatioii Ltd (LCA Ltd), previously known as Leafair Community Association is a
voluiilary and cliaritable orgaiiis&tion based within the Ballyarnett DEA. It was set up with the core aim of
eiiabling local people who have been excluded from life chances to live fuller lives and participate in their
coininuiiity. LCA Ltd operates fTom their coininunity ownedlmanaged cominunity centre commonly referred to as
'Skeoge House,, wliich encoinpasses a reception are4 office space, a communal/training room, an arts and Gultural
ljub and a ¢ommuiial kitclien. Core activiticslservices at Skeoge House include a Senior Citizens Luncheon Club,
traiiiiiiglcducatioii programmes for adults, trainee cmployment opportunities, a men's health programme, the
Personal Youtli Development Progratnine. youtli projects in partnership with tlie Education Authority and general
coinmunity developinent activities wliicli involve environmental improvement projects, cominunity allotments,
suminer festival, Clii'istin&s Wiiiter Wonderland and a range of social/recreational activities throughout the year.
LCA Ltd also facilitates public meetings to address coininunity issues as they arise, actively liaise. work with or
support a range of agencies on a weekly basis and these include Skeoge House Women's Group, Alcohol
Aiioiiyinous aftercare project, On tlie Streets Youtli Initiative who utilise the premises to provide youth
diversioiiary activitics for teeiiagers in tlie ai'ea and the Nortli Wcst Regional College who utilisc 'Skeoge House,
as an outreacli cenlre for local and accessible further ¢ducation programmes. LCA Ltd also manag¢s sevcral social
economy projects sucli as the Leafair 3G Pitclies, Leafair Green Gym, Skeoge Cominunity Transport and L¢afair
Men's Worksliop.
The Focus of our Work
The Inain purpose of LCA Ltd is to have a more educated and qualified population, a reduction in poverty on
people lives aiid to preveiit poverty on people living in the Outer Nortli Area resulting in improved health and
well-being.
Financial Revlew
Princi
al uiidiii
Sources
The key funders of LCA Ltd include Tlie National Lottery Community Fund, Department for Communities,
Garfield Weston, The Josepli Rowntree Charitable Trust, Nothem Ireland Housing Executive, Education
Autliority, Tudor Trust and DCSDC - Peace Plus.
Future Fundin
It is expected tliat Departinent for Coinmunities and DCSDC - Peace Plus fund will provide core funding for the
foreseeable future.
Page 2

Leafair Community Association Ltd
(A company limited by guarantee)
Continued.....
Structure, GoverDance and Management
Governin
Docuinent
Leafair Coininunity Association was established in 1994 as a community led organisation. The association was
incorporated to a limited coinpany by guarantee on 20 August 2019. The Compaiiy was granted charitable status
on 12 October 2020. Tlie charitable coinpany was established under Memorandum & Articles of Association
whicli outlined tlie area of benefit and the objects of the charitable organisation.
Reci'uitinent aiid A
oiiilment of tlie Board f Directors
The directors of tlie coinpaiiy are also charity trustees for the purposes of charity law and under the company's
Articles are known as members of the Board. Under the requirements of the Memorandum and Articles of
Association, one tliird of tlje members of tlie Board must stand for re-election at the Annual General Meeting.
All members of Board give tlieir tiine voluntarily and receive no benefits from the charity.
Meiii
ers TnduGtioii ali
Traiiiin
The Board incInbers are already familiar with the work of LCA Ltd and Board inembers are encouraged to
pai'ticipate in relevant activities.
All Board Ineinbers havG beeii requir¢d to attend govern￿]￿e training.
Obli
alioiis of the Board
Tlie maiii obligatioii of tlie Board are to develop and oversee the implementation of policy and to ensure that
structures and Inaiiagein¢nt complies witli le&7al requirements and good governance practice.
aiiisati
nal Structure
Tlie orgaiiisation structure consists of 6 directors and 14 employees, which include a general manager and
adininistation staff.
Risk Maiia
eiiient
Tlie directors have assessed Ilie major risks to which the company is exposed, in particular those related to the
operatioiis and finaiices of the company> and are satisfied that systems are in place to mitigate the exposure to the
Inajor risks.
Page 3

Leafair Community Association Ltd
(A company limited by guarantee)
Directors Responsibilities In Relation To The Financial Statements
Tlie directors are responsible for pi'eparing tlie Annual Report and the financial statements in accordance with
applicable law and United Kiiigdoin Accounting Standards (United Kingdom Generally Accepted Accounting
Pi'a¢tice). Coillpany law requircs the directors to prepare financial statcments for each financial year. Und¢r
coinpany law the directors Inust not appiyjve the financial statements unless they are satisfied that they give a true
and fair view of thc stat¢ of affairs of the charitable company and of the incoming resources and application of
resources, iii¢luding tlie incoine and expenditure, of the charitable company for that period. In preparing these
financial stateineiits, tlie directors are required to;
select suilable accouiiting policies aiid apply them consistently.
observe tlie melliods aiid priiiciples in the Charities SORP 2019 (FRS102).
Inalce judgeinents aiid estiinates that are reasonable and prudent;
state whcther applicable UK Accouiiting Standards have been followed, subject to any material departures
disclosed aiid explaiii¢d iii tli¢ fiiiaiicial stateinents.
prepare financial stateiiients on the going concern basis unless it is not appropriate to assume that tlie company
will continue on tliat basis.
Tlie directors are respoiisible for inaintaiiiing proper accounting records which disclose with reasonable accuracy
at aiiy tiine the financial positioii of the charity and ciiables them to ensure that the financial statements comply
with the Coinpanies Act 2006. The directors are also responsible for safeguarding the assets of the charity and
h¢iiG¢ for taking r¢asoiiable steps for tlie prevention and detection of fraud and oth¢r irregularities.
Tliis repoit Is pi'epared in accordan¢¢ witli tlie special provisions of part 15 of the Companies Act 2006 relating to
small coinpanies and in accordance with SOIIP 2019 (FRS 102).
Tlie fiiiaiicial stateiiieiits wei'e approved aiid authorised for issue by the Board of Directors on 16 May 2025 and
sigiied 011 its belialf by.
Director
Director
Pagc 4

Leafair Community Association Ltd
(A company limited by guarantee)
Indepcndent examiner's report on the unaudited financial statements to the of
Leafair Community Association Ltd
We report on Ilie ac¢ounts of the compaiiy for the year cnded 31 March 2025, which are set out on pages
6-15.
Respcctive responsibilities of charlty directors and examiner.
As tlie charity directors you are responsible for the preparation of the accounts iii accordance with the
Itquirements of tlie Coinpanies Act 2006. Having satisfied ourselves that the charity is not subject to audit
undcr compaiiy law, and is eligible for indepeiident examination, it is our responsibility to:
exainine tlie accouiits uiider section 65 of the Cliarities Act 2008,
follow the procedures laid down in the general directions given by the Charity Cominission for Northern
Ireland uiider sectioii 65(9)(b) of tlie Charities Act 2008.
slate whetlier particular Inatters Iiave come to our attention.
BASIS of Independent examlner's i'oport
We liave exaiiiined your charity accounts as required under sectioii 65 of the Charities Act and our
exaininalion was carried out in accordance with the geiieral directions given by tlie Charity Commission for
Nortliern Ireland uiider Sectioii 65(9)(b) of the Charities Act. The examination included a revicw of the
accounting records k¢pt by the cliarity aiid a coinparison of the accounts presented with those records. It also
iiicluded a considcration of any unusual items or disclosures in the accouiits, and seeking explanations from
you as Gharity directors Goncerning any sucli matters.
Our role is to state whether aiiy Inaterial Inatters have coine to our attention giving us caus¢ to believe:
that accouiiting records were not kept in accordance with section 386 of the Companies Act 2006.
tliat tli¢ accouiits do not accord with tliose accounting records.
tliat the accounts do not coinply with the accounting requirements of the Section 396 of the Companies Act
2006 and tlie methods and principles of the Charities Stateinent of Recommended Practice applicable to
charities preparing their accouiits in accordance with the Financial Reporting Standard applicable in the UK
aiid Republic of Irelaiid;
tliat there is fuitlier inforination needed for proper understanding.
Independcnt examiner's stutement
We cali coiifiriii we are qualified to undertake the examination aiid are regulated and a member of Chartered
Accountants IIElaiid, wliicli is one of tlie listed bodies.
We liave coinpleled our examination and have no concerns in respect of tlie matters listed above and. in
connectioii witli tlie followiiig directions of the Charity Coinmission for Northern Ireland, we have found no
Inatters tliat requii-c drawing to your altention.
McGroarty, Mcca
rty & Comp ny Ltd
Accountants & Tax Consultants
2 Carlisle Terrace
Dcrry
BT48 6JX
Date: 16 May 2025
Page 5

Leafair Comn]unity Association Ltd
(A company limited by guarantee)
Statement ofFinancial Activities
for the ye&r ended 31 March 2025
Unrestricted
Funds
Restricted
Funds
Total
2025
Total
2024
Income and Ei xpenditure
Iyotes
Incoming Resources
Incoine from resources and generating fuiids:
Incoine resources from cliarilable activities
74,054
382,952
457,006
584.120
Tolal Inconiing Resources
74,054
382,952
457,006
584,120
Resources Expendcd
Maiiageinent & adininistration
Governaiice costs
43.809
1,710
402,826
1.000
446,635
2,710
587,798
4,820
I'otal Resources [4 xpended
45,519
403,826
449,345
592.618
Net Inconiing l (Outgoing) Rcsourees
28,535
(20,874)
7,661
(8,498)
Balaiices bi'ouglit forward
75,222
77,176
152,398
160,896
Balances carried forward 31 Marcli 2025
12.
103,757
56,302
160,059
152,398
The above ainouiils relate to coiitiiiuing operatioiis of tlie coinpany.
The coinpany lias no recognised gains and losses otlier tliaii those included in the results above and therefore no
separate stateineiit of total recognised gains and losses lias been presented, There is no difference between the net
iiicoiiiing r¢soui'ces for t11e year stated above aiid tlieir historical cost equivalents.
Page 6

Leafair Community Association Ltd
(A company limited by guarantee)
Balance sheet
as at 31 March 2025
2025
2024
Notes
rl ixed asscts
Tangible assets
159,212
181,842
Curront assets
Debtors
Casli at bank and iii Iiand
1,377
159,250
2,892
135,946
160.627
138,838
Current liablllties
Bank loans aiid overdrstfts
Accruals and otl)ei' creditors
1,171
56,214
734
62,378
10.
57.385
63,112
Nct current #sscls
103.242
75,726
Total assets less currcnt
liabilitfies
262,454
257,568
Loiig-tei'in liabilities
11.
(102,395)
160,059
(105,170)
152,398
Net assets
Rc5erves
Unrestricted
Restricted
103,757
56,302
75,222
77,176
12.
160,059
152,398
Page 7

Leafair Community Association Ltd
(A company limited by guarantee)
Balance Sheet (continued)
Iii appi'oving these financial statenients as directors of tlie company we hereby confirin;
Tlicse accounts have been prepared in accordance with tlie special provisions of Part 15 of the Companies Act
2006 relating to sinall coinpanics and the Charities SORP 2019 (FRS 102).
Tlie coinpany was eiititled to exemption from audit under s477 of the Companies Act 2006 relating to small
coinpanics.
Tlie meinbers have Iiot required the compaiiy to obtain an audit in accordance witli section 476 of tlie
Coinpanies Act 2006.
Tlie directors acknowledge their responsibilities for complyiiig with tlie requirements of the Companies Act
2006 witli Irspect to accouiiting records and preparation of accounts.
Tliese accouiits have beeii prepared in accordaiice with the provisions applicable to small companies subject to
tlie small coiiipaiiies regiine in accordanc¢ witli Cliarities SORP (FRS102).
Tlie finaiicial stateinents were approved and authorised for issue by the board on 16 May 2025 and signed on
its behalf by:
DircLtor
Dlrector
Date . 16 May 2025
DAte . 16 MAY 2025
Registratlon number: N1663825
Page 8

Leafair Community Association Ltd
(A company limited by guarante¢)
Notes to the accounts
for thc year ended 31 March 2025
General information
The cliarity is a private liinited company by guarantee, registered in Northern Ireland and a registered
cliarily in Nortliern Irelaiid, The address of the registered office is 60a Leafair Park, Derry, BT48 8JT.
1.1, Accounting convention
The significaiit accounling policies applied in the preparation of tliese financial stateinents are set out
below. These policies Iiave beeii consistently applied to all years presented uiiless otherwise stated.
The cliarity constitutes a public beiiefit entity as defined by FRSI 02, The financial statements have
beeii prepared in accordance witli the accounting policies set out in notes to tlie accounts and comply
witli tli¢ cliarity's governing document, the Charities Act (Northern Ireland) 2008 and Accounting and
Reportiiig by Cliarities: Stateiiient of Recomineiided Practice applicable to charities preparing tlieir
accounts iii accordance with the Finaiicial Reporting Standard applicable in the UK and Republic of
Irelaiid publisli¢d iii October 2019 (SORP 2019) and the Companies Act 2006.
Tlie finaiicial statements are prepared on a going concerii basis under the historical cost convention,
modified to iiicluded certain iteins at fair value. Tlie financial statements are presented in sterling
whicli is tlie functional currency of the charity.
1.2. Incoming resources
All incoming resources are included in the stateinent of financial activities when the Gharity is entitled to
the incoine and Ihe amount can be quantified with r¢asonable accuracy. The following specific policies
are api)lied to particular cat¢gori¢s of income:
Voluntary incoine is received by way of grants, doiiations and gifts and is included in full in the
stateineiit of financial activities when receivable. Gr￿ltS where entitlement is not conditional on the
delivery of a specific performance by the charity, are recognised wlien the charity becomes
uncoiidilioiially eiilitled to the grant.
Donated services and facilities are iiicluded at the value to the charity wliere tliis can be quantifled. The
value of Services provided by volunteers has Iiot been included.
Gifts donated for resale are included as incoining resources within activities for generating funds when
they are sold.
1.3. Resources oxpended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT
wliicli cannot be fully recovered, aiid is reported a5 part of the expenditure to wliich it relates.
Charitable expenditure comprises tliose costs incurred by the charity in tlie delivery of its activities and
services for ils bcn¢ficiaries. It iiicludes both costs that can be allocated directly to such activities and
tliose cosls of ali iiidirect nature Iiecessary to Support thcm.
Page 9

Leafair Community Association Ltd
(A company limited by guarantee)
Notes to the accounts
for the year ended 31 March 2025
1.4. Fund accounting
Unrestricted funds are available for use at the discretion of the directors in furtherance of the general
objectives of the cliarity and which have not been designated for other purposes.
Restricted funds al'e funds which are to be used in accordance with specific restrictions imposed by
donors or whicli Iiave been raised by tlie charity for purposes. The cost of raising and administering
sucli funds are charged against the specific fund.
1.5. Tangible fixed assets aiid depreciation
Taiigible fixed assels are stated at cost less depreciation.
Depreciatioii is provided at rates calculal'ed to write off the cost or valuation less
residual value ofeach asset over its expected useful life, as follows:
Land aiid buildings
Equipineiit
MolOI' veliicles
20/0 Straight Line
I 00/0 Straight Line
25 % Straight Line
1.6. Ca511 at bank
C&sli at bank and casli equivalents are stated at cost at the financial year end.
1.7. Capltal grants
Capital graiils are received in respect of purchase of fixed assets a portion of which is released to the
stateinent of fiiiaiicial activitics in tlie y¢ar of receipt.
1,8. Dcbtors & credltors
Debtor5 and creditors with no staled interest rate and receivable or payable within one year are recorded
at traiisaction price. Any losses arising from impairinent are recognised in expenditure.
1.9. Pension costs
The pension costs cliarged iii the financial statements represent the contributions payable by the charity
duriiig tlie year.
1.10. Going Concern
Tlie finaiicial slateinents Iiave been prepared on a going concern basis as the directors believe that no
Iiiaterial uiicertainties exist. The directors have considered the level of funds held and the expected level
of incoine and expenditure for 12 Inontlis froin authoi'ising these financial statements. The budgeted
incoiiie and expendilure are sufficient with the level of reserves for tlie charity to be able to continue &s
a goiiig concern.
Page 10

Leafair Community Association Ltd
(A company limited by guarantee)
Notes to the accounts
for the year ended 31 March 2025
Income
2025
2024
Restricted Income
DCSDC: Peace Plus
Departineiit for Communities
SCRA - Youtli Programine
Big Lottery - Awards for All
WHSCT
Garfield Westoll
Tlie Josepli Rowntree Charitable Trust
Nl Housing Executive
Rukba C£Lrc Project
Tudor Trust
Derry City Strabane District Couiicil
Educatioii Aulliority
EA - Exteiided School
Tlie Natioiial Lotteiy - Coininunity Fund
Sl Stephens Green Trust
Coininunily Fiouiidation Nl
Halifax
Clothworkers
1,377
130,238
13,360
6,203
240
27,383
67,921
26,816
127,304
9,035
9.711
14,545
59,063
37,794
34,67 I
29.341
4.000
14.868
5,980
105.858
21,350
35,087
15,000
10,678
2,791
26,330
5,918
9,860
3.750
2,865
49.000
382,952
525,385
Unrestri¢tcd Income
Worksliop & bus hire iiicome
Doiiations aiid project iiicoine
7,255
66.799
14,474
44,261
74,054
58,735
Total Incoino
457,006
584,120
(i)
Resti'ictcd Funds
Funds received wliich are earinarked by tlie Funder for specific purposes. Suoh purposes are within the
overall aiins of tlie orgaiii8ation.
(li)
Ullrestricttd Funds
Funds wliich are expeiidable at tlie discretion of tlie company in furtherance of the aims of the charity.
In additioii funds IT]ay be held iii order to finance capital investment and working capital.
Page 11

Leafair Community Association Ltd
(A company limited by guarantee)
Notes to the accounts
for the year ended 31 March 2025
R¢sourccs xpended
Unrestricted
Funds
Restricted
Funds
Total
2025
Total
2024
Management & Adniinistration
Wages & Salaries
Peiisioii Costs
Staff traiiiing
Prograinme costs
Repairs, Inainteiiaiice & cleaning
Rent & water rates
Iiisuraiice
Liglit & lieat
Printing> Postage & statioiiery
Coinputer costs
I'cleplione & iiiternet
Consultancy fees
Travel & traiisport
Baiik & iiiterest cliarges
General & subscription expenses
Depreciation
Amortisation of capital grant
6,234
221,863
9,565
5,171
103,992
5,197
14,708
2,555
7,594
1,739
430
3,161
360
3.896
306
1,241
23,823
(2,775)
402,826
228,097
9,565
5,171
126,121
7.756
15,l71
4,182
8.706
3,272
3,250
3,804
360
7,336
I,328
1,311
23,980
(2.775)
446,635
261,805
,746
2,478
173,792
65,318
12.750
4.979
5.835
2,496
1,158
4,127
2,880
17,966
1,432
965
23.846
(2,775)
22,129
2,559
463
1,627
1,112
1,533
2,820
643
3,440
1.022
70
157
43.809
587,798
Govcrnance Costs
Unrestrlctcd
Funds
Restrlcted
Funds
Total
2025
Total
2024
Accountaiicy fees
Audit reinuii¢ration
1.710
1,000
2,710
500
4,320
1,710
1,000
2,710
4,820
Iyet (outgoing)l incoming resources for the year
2025
2024
Net (outgoing)/ iiicoming resources is stated after charging".
Depreciation aiid other ainounts wrillen off tangible fixed assets
Auditor's rcinuiieratioii
Accountancy fees
23.980
23,846
4.320
500
2,710
Page 12

Leafair Community Association Ltd
(A company limited by guarantee)
Notes to the accounts
for the year ended 31 March 2025
Staff costs
The aggregate payroll costs incurred during the year were:
2025
2024
Wages aiid salaries
Peiisioii costs
228,097
9,565
261,805
8.746
237,662
270,551
The Iiumber of einployees who earned more than £60,000 during tlie year was nil (2024 - nil).
Tlie directors, iieither received nor waived any emoluinents during th¢ year (2024: none).
Number of employees
Tlic average Inonthly numbers of persons employed by the compaiiy during the year, amounted to:
2025
Number
2024
Number
Adininistrative staff
14
Taxation
As a charity, Leafair Coinniunity Association Ltd is exempt froin tax on income and gains falling
williin se¢tioii 505 of tlie Taxes Act 1988 or s256 of tlie Taxation of Chargeable Gains Act 1992 to the
extent tliat tliese al'e applied to its Ghargeable objects.
Page 13

Leafair Community Association Ltd
(A company limited by guarantee)
Notes to the accounts
for the year ¢nd¢d 31 March 2025
Tangible assets
Land and
bulldlngs
fre¢hold
Motor
vehlcles
Equlpment
Total
Cost
At l April 2024
Additions
166,359
73.199
150,656
1,350
390,214
1,350
At 31 March 2025
166,359
73,199
152.006
391.564
Depreciation
At l April 2024
Chargo for the ycar
34,416
3,327
67,201
5,998
106,755
14,655
208,372
23,980
At 31 Marcli 2025
37,743
73.199
121,410
232,352
Net book valucs
At 31 March 2025
128.616
30,596
159,212
At 31 Marcli 2024
131,943
5,998
43.901
181.842
Dcbtors
2025
2024
Grants receivable
1,377
2,892
10.
Credltors: ainounts fulling duo
wlthin one year
2025
2024
Baiik loaiis aiid overdraft
Deferred income
Accruals
1,171
51,053
5.161
734
55,722
6,656
57,385
63,112
Page 14

Leafair Community Association Ltd
(A company limited by guarantee)
Notes to the accounts
for the year cndcd 31 March 2025
11.
Capital Grants
2025
2024
At l April 2024
Less: Capital Grants Amortised
At 31 March 2025
105,170
(2,775)
102,395
107.945
(2,775)
105,170
12.
Movoments In fi und5
At
l Aprll Incoming Outgoing
2024 rcsource5 resources
At
31 March
2025
Rcstricled funds:
Total reslricted fuiids
UnrestrictL'd funds:
Total uiirestrictcd fuiids
77,176 382,952 (403,826)
56,302
75,222
74,054
(45.519)
103,757
Total funds
152.398
457.006 (449,345)
160,059
Purposes of Reslrficted Funds
Restrict¢d grants awarded to tlie charity is provided to cover tli¢ core objects &s explained in directors report.
13.
Related Party Transactions
Tliere were no relal'ed party transactions in the period under review.
14.
Limited by Guarthnt¢e
The Goinpaiiy is liinited by guarantee and does not have a share capital.
Every meinber of the coinpaiiy uiidertakes to Contribute such amount as may be required not
exceediiig £1 to tlie assets of the charitable coinpany in the event of its being wound up while he or
slie is & Inember, or within one year after lie or she ceases to be a member.
15. Controlling party
Tlie ultiinate Control of tlie compaiiy rests with the board of directors.
16.
Post Balance Sheet events
No sigiiificant eveiits Iiave taken place since tlie year end that would result in adjustments to 2025
financial iiifoi'mation or inclusioii of a note thereto.
Page 15