28 false false false false false true true false false false false false true No description of principal activity 2024-10-01 Sage Accounts Production Advanced 2025 - FRS102_2025_Charity xbrli:pure xbrli:shares iso4217:GBP NI603999 2024-10-01 2025-09-30 NI603999 2025-09-30 NI603999 2024-09-30 NI603999 2023-10-01 2024-09-30 NI603999 2024-09-30 NI603999 2023-09-30 NI603999 core:LandBuildings core:OwnedOrFreeholdAssets 2024-10-01 2025-09-30 NI603999 core:MotorVehicles 2024-10-01 2025-09-30 NI603999 bus:LeadAgentIfApplicable 2024-10-01 2025-09-30 NI603999 char:Trustee1 2024-10-01 2025-09-30 NI603999 char:Trustee2 2024-10-01 2025-09-30 NI603999 char:Trustee4 2024-10-01 2025-09-30 NI603999 char:Trustee5 2024-10-01 2025-09-30 NI603999 char:Trustee6 2024-10-01 2025-09-30 NI603999 char:Trustee8 2024-10-01 2025-09-30 NI603999 char:TotalUnrestrictedFunds 2024-09-30 NI603999 char:TotalRestrictedIncomeFunds 2024-09-30 NI603999 char:TotalUnrestrictedFunds 2025-09-30 NI603999 char:TotalRestrictedIncomeFunds 2025-09-30 NI603999 char:TotalRestrictedIncomeFunds 2024-09-30 NI603999 char:TotalUnrestrictedFunds 2024-09-30 NI603999 char:TotalUnrestrictedFunds 2024-10-01 2025-09-30 NI603999 char:TotalRestrictedIncomeFunds 2024-10-01 2025-09-30 NI603999 char:TotalUnrestrictedFunds 2023-10-01 2024-09-30 NI603999 char:TotalRestrictedIncomeFunds 2023-10-01 2024-09-30 NI603999 core:WithinOneYear 2025-09-30 NI603999 core:WithinOneYear 2024-09-30 NI603999 core:AfterOneYear 2025-09-30 NI603999 core:AfterOneYear 2024-09-30 NI603999 core:LandBuildings 2024-09-30 NI603999 core:MotorVehicles 2024-09-30 NI603999 core:LandBuildings 2025-09-30 NI603999 core:MotorVehicles 2025-09-30 NI603999 core:LandBuildings 2024-10-01 2025-09-30 NI603999 core:LandBuildings 2024-09-30 NI603999 core:MotorVehicles 2024-09-30 NI603999 bus:SmallEntities 2024-10-01 2025-09-30 NI603999 bus:Audited 2024-10-01 2025-09-30 NI603999 bus:SmallCompaniesRegimeForAccounts 2024-10-01 2025-09-30 NI603999 bus:PrivateLimitedCompanyLtd 2024-10-01 2025-09-30 NI603999 bus:FullAccounts 2024-10-01 2025-09-30
COMPANY REGISTRATION NUMBER: NI603999
CHARITY REGISTRATION NUMBER: NIC107433
Limavady Community Development Initiative Ltd
Company Limited by Guarantee
Financial Statements
30 September 2025
Limavady Community Development Initiative Ltd
Company Limited by Guarantee
Financial Statements
Year ended 30th September 2025
Page
Trustees' annual report (incorporating the directors' report)
1
Independent auditor's report to the members
7
Statement of financial activities (including income and expenditure account)
11
Statement of financial position
12
Statement of cash flows
13
Notes to the financial statements
14
Limavady Community Development Initiative Ltd
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Directors' Report)
Year ended 30th September 2025
The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 30 September 2025 .
Reference and administrative details
Registered charity name
Limavady Community Development Initiative Ltd
Charity registration number
NIC107433
Company registration number
NI603999
Principal office and registered
24D Benevenagh Drive
office
Limavady
Co Londonderry
BT49 0AQ
The trustees
Keith Leighton
John Wilson
Ann McNickle
Gwyneth McQuiston
Deborah Mills
James Herron
Chief Executive Richard Smyth
Auditor
Donaldson & Thompson
Chartered Accountants & statutory auditor
3 Limavady Road
Londonderry
BT47 6JU
Bankers
Bank of Ireland
2 The Diamond
Coleraine
Co Londonderry
BT52 1DE
Solicitors
Martin King French & Ingram LLP
52 Catherine Street
Limavady
Co Londonderry
BT49 9DB
Structure, governance and management
The organisation is a charitable company limited by guarantee, incorporated on 6th August 2010 and accepted as a charity by HM Revenue & Customs, reference number XR52185. 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.
Appointment of Executive Committee: LCDI is governed by an Executive Committee elected by its members on an annual basis.
Committee Induction and Training: New Executive Committee members undergo induction training to brief them on roles and responsibilities and their legal obligations under charity and company law, the committee and the decision-making processes, the strategic and operational planning processes, the organisational structure and key organisational activities. Executive Committee members are provided with copies of the NICVA Governance Manual which includes the Memorandum and Articles of Association, Role Descriptions for Office Bearers and Committee members and Sub Committees, Finance Procedures and the Equal Opportunities Policy.
Organisational Structure: The Executive Committee ensures the good governance of the organisation by setting 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- Committees which deal with the human and financial resources of the organisation meet on a-monthly basis.
The General Manager, appointed by the Committee, manages the day to day operations of the organisation. To facilitate 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 organisation and therefore all operations are carried out in accordance with this.
Risk Management: Financial risks are assessed by the organisation through the Resources Committee on a quarterly and annual basis.
Objectives and activities
Principal activities: Limavady Community Development Initiative (LCDI)objectives are to advance community development by providing facilities and amenities for and support and assistance to, community and voluntary groups and organisations. Advance health and well-being relieve poverty, advance education, relieve those in need by reason of youth, age, ill-health, disability, financial hardship or other disadvantage, advance the arts, culture and heritage, provide facilities in the interest of social welfare for reaction and other leisure time occupations with the object of improving the conditions of life for the said residents and finally to promote religious and racial harmony, equality and diversity.
Achievements and performance
LCDI have commissioned Courtney Consultancy to prepare a new strategic plan for 2024-2028.
Environmental Programmes
Recycle @LCDI is an environmental project which diverts waste from landfill, supports the local community and local jobs, promotes recycling and our free collection service of preloved furniture donations helps prevent fly tipping. During the accounting period October 2024 to September 2025 we have diverted 400 tonnes of waste from landfill and have completed more than 1500 collections and deliveries. A SLA with local manufacturer, Fast House has contributed greatly to 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 with various learning disabilities, allowing them to participate in a range of horticultural activities and providing respite for clients' families and carers. The project operates Monday - Friday and during the accounting period October 2024 to September 2025 provided 16,000 hours of supported work experience for our clients. The Garden Centre project has recently received additional investment from the Western Trust to install a new central hub in the form of a new bespoke meeting cabin containing a new suite of offices and accessible toilets. - It is hoped that this will encourage increased participation from new clients identified by the Trust.
Family Support Programmes
Wrap Around School Provision @ LCDI: is a cross community-based afterschool's project providing wrap around out of school. During the accounting period October 2024 to September 2025 we provided 19,000 hours of affordable childcare, offering full day care during school holiday to up to 48 children.
Playgroup@ LCDI: is a community-based playgroup providing a pre-school session 5 mornings a week from 8.30am - noon (24 spaces) which follow the pre-school curriculum. The project is inspected annually by Social Services and ETI and provide 18,000 hours of care per year. Recently the project has been selected to participate in the next round of Standardisation which allows for a further 1 hour per school day as well as the provision of a hot lunch.
Lifestart @LCDI is a family support programme for parents of children aged between birth and five years, which focuses on child development, nurture, and protection. Our growing child programme along with our Family Support sessions and parent and toddler group delivered 1000 hours during the accounting period October 2024 to September 2025. 'The Growing Child' programme provides advice, guidance, early intervention and signposting services.
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 circle of its clients as they know that someone will be in touch with their loved one each day. During the accounting period of October 2024 to September 2025, the project continues to make an average 40 calls per day which amounted to 10,000 calls to to local older people being undertaken during the year.
Community Meals @ LCDI provides a nutritionally balanced meal along with a range support services both on and off site the later only being possible thanks to the volunteers helping to deliver the service. During the accounting period of October 2024 to September 2025 an average of 150 meals are delivered weekly. This would equate to an average of 650 meals per month, totalling 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 18-65yrs. This is achieved through client led projects which educate, inform, stimulate and entertain as well as providing much needed respite. 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 socialisation which is critical for individual health and wellbeing. The project provides more than 10,500 hours and promotes integration in the community though projects such as the Christmas Soiree, Summer BBQ Banquets and regular outings. The project has recently been redesignated and can now facilitate care for those over 65 years of age.
Community Cohesion Programmes
The Volunteer Centre @LCDI provides developmental supports a range of volunteers in the Greater Limavady Area, supporting them make a difference to their local community.
During the accounting period October 2024 to September 2025, the project provided 4,000 hours of direct volunteer support, engaging 720 individuals. Throughout this year the project has increased support further by brokering volunteers and actively bringing other community organisations together with suitable volunteers by matching needs.
R.E.A.C.H: Is a programme designed to provide a social framework for adults living with a learning disability. During the accounting period October 2024 - September 2025 1,000 hours of developmental support were delivered. Through the support given by the Bailey Foundation the project has been able to deliver a richer programme of activities to all the clients.
Community Cohesion events LCDI: The status of LCDI as a cross community organisation located in a shared space means that the organisation 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 2024 to September 2025, we ran a large scale open event which attracted 600 participants.
Community Training and Education
Community Works Training @LCDI provides affordable practical training for local community organisations to support them undertake their services. During the accounting period October 2024 to September 2025, 300 individuals availed of a range of training including first aid, child protection, food safety and Hygiene, governance, and volunteer management.
Baby Bank - Offers pre-loved clothes, nursery equipment and toys to families who are participating in our programmes or who have been referred through the appropriate channels. During the accounting period October 2024 to September 2025 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 2024 to September 2025 140,000 individual stamps with a cumulative value of £700,000 were saved by residents who were budgeting to avoid fuel poverty. LCDI engaged with 68 outlets across the council area to ensure the scheme was accessible to all.
Anti-Poverty Programmes - The foodbank was extremely busy during the accounting period October 2024 to September 2025 and has continued to be managed by LCDI staff & Volunteers. LCDI Foodbank accept referrals from any statutory or community/voluntary sector agency with referrals also coming from GP's, childcare providers or housing associations. During the accounting period October 2024 to September 2025 the foodbank provided 500 emergency food parcels.
Anti-Poverty Programmes
The foodbank was extremely busy during the accounting period October 2023 to September 2024 and has continued to be managed by LCDI staff & Volunteers. LCDI Foodbank accept referrals from any statutory or community/voluntary sector agency with referrals also coming from GP's, childcare providers or housing associations. During the accounting period October 2024 to September 2025 the foodbank provided 500 emergency food parcels.
Social Supermarkets - after identifying a need LCDI set up a self-funded social supermarket in November 2020 and during the accounting period October 2024 to September 2025 have helped 160 families in their journey out of food poverty, with a an ever growing waiting list, and re-directed 12 tons of food waste from landfill.
We supported 48 volunteers who gave 2340 hours of their time to the programme. The social
supermarket charges a nominal fee of £5 per family per week The clients will embark on a journey not only addressing the food poverty, but will also attend cookery classes, budgeting classes and will have an opportunity to 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 etc. are purchased weekly which runs to about £5000 per year alone, this is funded directly from LCDI.
Financial review
The results for the year are contained in the financial statements attached.
Investment Policy: The Resources Sub-Committee has considered the most appropriate policy for investing funds and decided that a mixture of bank deposit accounts is the best approach. The investment policy is reviewed each year by the Committee.
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 main risks to the organisation. The aim is to provide sufficient funds to 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 cease to operate. Any call upon the use of reserves will be at the approval of the Executive Committee which will examine the rationale for doing so and agree an amount where appropriate. At 30th September 2025, the level of "free reserves", excluding fixed assets and designated funds was £355,767. While this is below our ideal reserve level it does allow for liquidity and we intend to develop further reserves in the coming years
Plans for future periods
LCDI has a Strategic Plan for the period 2023-2028. We hope this will allow for further growth and expansion of our services to help us achieve our mission.
Trustees' responsibilities 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 United 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 state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the applicable Charities SORP; - make judgments and accounting estimates that are reasonable and prudent; - 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 charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The charity's trustees are covered by insurance indemnifying them when acting in their capacity as trustees of the charity.
Auditor
Each of the persons who is a trustee at the date of approval of this report confirms that:
- so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and - they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information.
A resolution to reappoint Donaldson & Thompson as auditors will be proposed at the forthcoming Annual General Meeting.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report (incorporating the directors' report) was approved on 24 July 2026 and signed on behalf of the board of trustees by:
Keith Leighton
John Wilson
Trustee
Trustee
Limavady Community Development Initiative Ltd
Company Limited by Guarantee
Independent Auditor's Report to the Members of Limavady Community Development Initiative Ltd
Year ended 30th September 2025
Opinion
We have audited the financial statements of Limavady Community Development Initiative Ltd (the 'charity') for the year ended 30th September 2025 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the charity's affairs as at 30th September 2025 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 requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out below, 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. In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, 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 continue as a going concern for a period of at least twelve months from when the financial 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 other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated 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 obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement 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 that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the trustees' report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charity 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 Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns 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 information and explanations we require for our audit; or - the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report.
Responsibilities of trustees
As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. 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 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 expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the 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 reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 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 appropriate to 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, misrepresentations, or the override of internal 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 internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. - Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit 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 charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to 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 body, for our audit work, for this report, or for the opinions we have formed.
Alistair Sterritt
(Senior Statutory Auditor)
For and on behalf of
Donaldson & Thompson
Chartered Accountants & statutory auditor
3 Limavady Road
Londonderry
BT47 6JU
24 July 2026
Limavady Community Development Initiative Ltd
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 30th September 2025
2025
2024
Unrestricted funds
Restricted funds
Total funds
Total funds
Note
£
£
£
£
Income and endowments
Donations and legacies
5
8,309
36,577
44,886
53,909
Charitable activities
6
516,263
110,655
626,918
600,096
Investment income
7
3
61
64
72
---------
---------
---------
---------
Total income
524,575
147,293
671,868
654,077
---------
---------
---------
---------
Expenditure
Expenditure on charitable activities
9,10
604,080
137,585
741,666
829,698
---------
---------
---------
---------
Total expenditure
604,080
137,585
741,666
829,698
---------
---------
---------
---------
---------
---------
---------
---------
Net expenditure and net movement in funds
( 79,505)
9,708
( 69,798)
( 175,621)
---------
---------
---------
---------
Reconciliation of funds
Total funds brought forward
641,952
432,059
1,074,011
1,249,632
---------
---------
------------
------------
Total funds carried forward
562,447
441,767
1,004,214
1,074,011
---------
---------
------------
------------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Limavady Community Development Initiative Ltd
Company Limited by Guarantee
Statement of Financial Position
30 September 2025
2025
2024
Note
£
£
£
Fixed assets
Tangible fixed assets
13
230,419
253,206
Current assets
Debtors
14
107,729
189,759
Cash at bank and in hand
1,254,273
1,339,777
------------
------------
1,362,002
1,529,536
Creditors: amounts falling due within one year
16
576,208
695,231
------------
------------
Net current assets
785,794
834,305
------------
------------
Total assets less current liabilities
1,016,213
1,087,511
Creditors: amounts falling due after more than one year
17
12,000
13,500
------------
------------
Net assets
1,004,213
1,074,011
------------
------------
Funds of the charity
Restricted funds
441,767
432,059
Unrestricted funds
562,447
641,952
------------
------------
Total charity funds
21
1,004,214
1,074,011
------------
------------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 24 July 2026 , and are signed on behalf of the board by:
Keith Leighton
John Wilson
Trustee
Trustee
Limavady Community Development Initiative Ltd
Company Limited by Guarantee
Statement of Cash Flows
Year ended 30th September 2025
2025
2024
Note
£
£
Cash flows from operating activities
Net expenditure
(69,798)
(175,621)
Adjustments for:
Depreciation of tangible fixed assets
27,961
28,692
Other interest receivable and similar income
( 64)
( 72)
Interest payable and similar charges
3,200
3,583
Accrued income
( 45,580)
( 39,800)
Changes in:
Trade and other debtors
46,986
( 4,622)
Trade and other creditors
( 42,132)
16,879
--------
---------
Cash generated from operations
( 79,427)
( 170,961)
Interest paid
( 3,200)
( 3,583)
Interest received
64
72
--------
---------
Net cash used in operating activities
( 82,563)
( 174,472)
--------
---------
Cash flows from investing activities
Purchase of tangible assets
( 5,174)
( 33,592)
Proceeds from sale of tangible assets
–
300
--------
---------
Net cash used in investing activities
( 5,174)
( 33,292)
--------
---------
Net decrease in cash and cash equivalents
( 87,737)
( 207,764)
Cash and cash equivalents at beginning of year
1,334,207
1,541,971
------------
------------
Cash and cash equivalents at end of year
15
1,246,470
1,334,207
------------
------------
Limavady Community Development Initiative Ltd
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30th September 2025
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is 24D Benevenagh Drive, Limavady, Co Londonderry, BT49 0AQ.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements 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 expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular 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 funds.
Incoming resources
Income All income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions 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 following specific policies are applied to particular categories of income: Donations and legacy income is received by way of donations, legacies, grants and gifts and is included in full in the Statement of Financial Activities when receivable. Where legacies have been notified to the charity but the criteria for income recognition have not been met, the legacy is treated as a contingent asset and disclosed if material. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Donated services and facilities are included at the value to the charity, being the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market. Investment income is included when receivable. Income from charitable trading activity is accounted for when earned. Income from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
Resources expended
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:
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 expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis, as set out in the notes to the accounts.
Tangible assets
All fixed assets are initially recorded at cost less accumulated depreciation and accumulated impairment loss. Cost includes all costs that are directly attributable to bringing the asset into working condition for its intended use.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% straight line
Motor vehicles
-
25% reducing balance
Equipment
-
10% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at 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 rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. Contributions to defined contribution plans and associated liabilities are allocated to activities and between restricted and unrestricted funds on the basis of the connected payroll expense. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited 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 the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.
5. Donations and legacies
Unrestricted Funds
Restricted Funds
Total Funds 2025
£
£
£
Donations
Donations - Daycare Services
6,534
–
6,534
Donations - After Schools
–
–
–
Donations - Social Economy
750
–
750
Donations - Elderly Services
180
–
180
Donations - Community Transport
–
–
–
Donations - Volunteer Bureau
–
–
–
Donations - Volunteer Bureau No 2 Foodbank
–
36,577
36,577
Donations - Garden Centre / Greenshed
100
–
100
Donations - Overheads
745
–
745
-------
--------
--------
8,309
36,577
44,886
-------
--------
--------
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Donations
Donations - Daycare Services
5,156
–
5,156
Donations - After Schools
200
–
200
Donations - Social Economy
2,150
–
2,150
Donations - Elderly Services
–
–
–
Donations - Community Transport
1,000
–
1,000
Donations - Volunteer Bureau
–
2,400
2,400
Donations - Volunteer Bureau No 2 Foodbank
–
42,518
42,518
Donations - Garden Centre / Greenshed
175
–
175
Donations - Overheads
310
–
310
-------
--------
--------
8,991
44,918
53,909
-------
--------
--------
6. Charitable activities
Unrestricted Funds
Restricted Funds
Total Funds 2025
£
£
£
Other income from charitable activities - Lifestart
–
21,013
21,013
Other income from charitable activities - Daycare Services
84,739
–
84,739
Other income from charitable activities - Play Group
72,684
12,980
85,664
Other income from charitable activities - After Schools
96,815
–
96,815
Other income from charitable activities - Social Economy
63,072
–
63,072
Other income from charitable activities - ECO Village
–
2,000
2,000
Other income from charitable activities - Elderly Services
3,894
–
3,894
Other income from charitable activities - Community Transport
21,268
–
21,268
Other income from charitable activities - Refurnish - Limavady Shop
41,703
–
41,703
Other income from charitable activities - Glass/Card Recycling
16,387
1,500
17,887
Other income from charitable activities - Garden Centre/Green Shed
31,328
–
31,328
Other income from charitable activities - Overheads
49,223
–
49,223
Other income from charitable activities - New Deal Fuel Stamps 2
27,325
–
27,325
Other income from charitable activities - Community Works Training
1,272
–
1,272
Other income from charitable activities - Volunteer Bureau
976
45,262
46,238
Other income from charitable activities - Family Centre
1,060
20,900
21,960
Other income from charitable activities - Reach & Hen's Shed
4,517
7,000
11,517
---------
---------
---------
516,263
110,655
626,918
---------
---------
---------
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Other income from charitable activities - Lifestart
–
8,370
8,370
Other income from charitable activities - Daycare Services
79,431
–
79,431
Other income from charitable activities - Play Group
67,620
14,741
82,361
Other income from charitable activities - After Schools
95,504
–
95,504
Other income from charitable activities - Social Economy
43,484
–
43,484
Other income from charitable activities - ECO Village
–
–
–
Other income from charitable activities - Elderly Services
2,982
–
2,982
Other income from charitable activities - Community Transport
23,499
–
23,499
Other income from charitable activities - Refurnish - Limavady Shop
47,792
–
47,792
Other income from charitable activities - Glass/Card Recycling
31,952
1,500
33,452
Other income from charitable activities - Garden Centre/Green Shed
28,746
–
28,746
Other income from charitable activities - Overheads
49,719
–
49,719
Other income from charitable activities - New Deal Fuel Stamps 2
27,960
–
27,960
Other income from charitable activities - Community Works Training
6,357
–
6,357
Other income from charitable activities - Volunteer Bureau
976
32,356
33,332
Other income from charitable activities - Family Centre
5,047
–
5,047
Other income from charitable activities - Reach & Hen's Shed
17,310
14,750
32,060
---------
--------
---------
528,379
71,717
600,096
---------
--------
---------
7. Investment income
Unrestricted Funds
Restricted Funds
Total Funds 2025
£
£
£
Bank interest receivable - Unrestricted funds
3
–
3
Bank interest receivable - Restricted funds
–
61
61
----
----
----
3
61
64
----
----
----
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Bank interest receivable - Unrestricted funds
11
–
11
Bank interest receivable - Restricted funds
–
61
61
----
----
----
11
61
72
----
----
----
8. Income by funder
2025
£
After School Fees – Parents Contributions
96,164
Bailey Thomas
7,000
Causeway Coast & Glens Borough Council
111,868
Binevenagh & Coast Lowlands
500
BUPA
2,000
Department for Communities
45,163
Triangle
250
Coast
200
Mini Bus Invoices
21,268
Other Income & Donations
52,160
Pathways Fund
31,654
Public Donation
1,982
Refurnish Limavady
25,703
Social Economy
63,822
Feeding Britain
900
The National Lottery
20,000
Western Education & Library Board
74,684
Western Health & Social Care Trust
108,805
Amounts Deferred
7,745
---------
671,868
---------
2024
£
After School Fees – Parents Contributions
94,134
Arts Council
330
Causeway Coast & Glens Borough Council
111,508
Binevenagh & Coast Lowlands
1,800
Clear Project
5,000
Community Development & Health Network
2,400
Department for Communities
26,582
Triangle
2,651
Coast
1,200
Mini Bus Invoices
23,500
Other Income & Donations
47,701
Pathways Fund
22,911
Refurnish Limavady
47,792
Social Economy
60,317
Feeding Britain
4,000
The National Lottery
9,750
Western Education & Library Board
66,653
Western Health & Social Care Trust
103,504
Amounts Deferred
22,344
---------
654,077
---------
9. Expenditure on charitable activities by fund type
Unrestricted Funds
Restricted Funds
Total Funds 2025
£
£
£
Lifestart
–
22,036
22,036
Daycare services
89,172
–
89,172
Playgroup
61,657
12,980
74,637
Afterschools
83,290
–
83,290
Social Economy
54,723
–
54,723
ECO Village
2,443
2,000
4,443
Elderly services
2,896
–
2,896
LCDI Community Transport
21,893
–
21,893
Limavady Volunteer Centre
976
43,853
44,829
LCDI- Roevalley Food bank & Social Inclusion Programmes
–
47,692
47,692
Refurnish - Limavady shop
42,022
–
42,022
Glass / Card recycling
20,154
–
20,154
Garden centre / Greenshed
15,586
–
15,586
Overheads
188,722
–
188,722
Fuels Stamps 2
6,976
–
6,976
Community Works training
1,116
–
1,116
Family Centre
6,356
5,523
11,879
Reach & Hen's Shed
6,098
3,501
9,600
---------
---------
---------
604,080
137,585
741,666
---------
---------
---------
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Lifestart
–
18,331
18,331
Daycare services
92,995
–
92,995
Playgroup
68,765
14,741
83,506
Afterschools
86,688
–
86,688
Social Economy
50,249
–
50,249
ECO Village
2,468
–
2,468
Elderly services
4,160
–
4,160
LCDI Community Transport
22,645
–
22,645
Limavady Volunteer Centre
976
48,894
49,870
LCDI- Roevalley Food bank & Social Inclusion Programmes
–
69,779
69,779
Refurnish - Limavady shop
68,400
–
68,400
Glass / Card recycling
18,907
–
18,907
Garden centre / Greenshed
4,796
–
4,796
Overheads
213,227
–
213,227
Fuels Stamps 2
7,413
–
7,413
Community Works training
1,238
–
1,238
Family Centre
7,708
–
7,708
Reach & Hen's Shed
12,571
14,747
27,318
---------
---------
---------
663,206
166,492
829,698
---------
---------
---------
Legal and professional costs of £22,150 relating to settlement of an employment tribunal claim are included in Overheads for the year ended 30th September 2025.
10. Expenditure on charitable activities by activity type
Activities undertaken directly
Total funds 2025
Total fund 2024
£
£
£
Lifestart
22,036
22,036
18,331
Daycare services
89,172
89,172
92,995
Playgroup
74,637
74,637
83,506
Afterschools
83,290
83,290
86,688
Social Economy
54,723
54,723
50,249
ECO Village
4,443
4,443
2,468
Elderly services
2,896
2,896
4,160
LCDI Community Transport
21,893
21,893
22,645
Limavady Volunteer Centre
44,829
44,829
49,870
LCDI- Roevalley Food bank & Social Inclusion Programmes
47,692
47,692
69,779
Refurnish - Limavady shop
42,022
42,022
68,400
Glass / Card recycling
20,154
20,154
18,907
Garden centre / Greenshed
15,586
15,586
4,796
Overheads
188,722
188,722
213,227
Fuels Stamps 2
6,976
6,976
7,413
Community Works training
1,116
1,116
1,238
Family Centre
11,879
11,879
7,708
Reach & Hen's Shed
9,600
9,600
27,318
---------
---------
---------
741,666
741,666
829,698
---------
---------
---------
11. Net expenditure
Net expenditure is stated after charging/(crediting):
2025
2024
£
£
Depreciation of tangible fixed assets
27,961
28,692
--------
--------
12. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2025
2024
£
£
Wages and salaries
413,769
468,566
Social security costs
26,604
25,924
Employer contributions to pension plans
7,193
7,186
---------
---------
447,566
501,676
---------
---------
The average head count of employees during the year was 28 (2024: 31 ). The average number of full-time equivalent employees during the year is analysed as follows:
2025
2024
No.
No.
Number of staff -
28
31
----
----
No employee received employee benefits of more than £60,000 during the year (2024: Nil).
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £11,748 (2024:£37,972).
13. Tangible fixed assets
Land and buildings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 Oct 2024
199,982
72,520
235,520
508,022
Additions
–
–
5,174
5,174
---------
--------
---------
---------
At 30 Sep 2025
199,982
72,520
240,694
513,196
---------
--------
---------
---------
Depreciation
At 1 Oct 2024
52,118
62,841
139,857
254,816
Charge for the year
4,050
2,420
21,491
27,961
---------
--------
---------
---------
At 30 Sep 2025
56,168
65,261
161,348
282,777
---------
--------
---------
---------
Carrying amount
At 30 Sep 2025
143,814
7,259
79,346
230,419
---------
--------
---------
---------
At 30 Sep 2024
147,864
9,679
95,663
253,206
---------
--------
---------
---------
14. Debtors
2025
2024
£
£
Trade debtors
55,911
76,453
Amounts owed by group undertakings
31,922
54,870
Prepayments and accrued income
12,109
50,649
Other debtors
7,787
7,787
---------
---------
107,729
189,759
---------
---------
15. Cash and cash equivalents
Cash and cash equivalents comprise the following:
2025
2024
£
£
Cash at bank and in hand
1,254,273
1,339,777
Bank overdrafts
( 7,803)
( 5,570)
------------
------------
1,246,470
1,334,207
------------
------------
16. Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
7,803
5,570
Trade creditors
3,966
37,922
Accruals and deferred income
501,589
582,213
Social security and other taxes
–
6,574
Other creditors
62,850
62,952
---------
---------
576,208
695,231
---------
---------
17. Creditors: amounts falling due after more than one year
2025
2024
£
£
Accruals and deferred income
12,000
13,500
--------
--------
18. Deferred income
2025
2024
£
£
Amount released to income
(3,000)
(1,500)
Amount deferred in year
15,000
15,000
--------
--------
At 30th September 2025
12,000
13,500
--------
--------
19. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £ 7,193 (2024: £ 7,186 ).
20. Government grants
The amounts recognised in the financial statements for government grants are as follows:
2025
2024
£
£
Recognised in creditors:
Deferred government grants due after more than one year
12,000
13,500
--------
--------
21. Analysis of charitable funds
Unrestricted funds
At 1 Oct 2024
Income
Expenditure
Transfers
At 30 Sep 2025
£
£
£
£
£
General funds
296,952
524,575
(604,080)
345,000
562,447
Designated Funds
345,000
–
–
(345,000)
–
---------
---------
---------
---------
---------
641,952
524,575
(604,080)
–
562,447
---------
---------
---------
---------
---------
At 1 Oct 2023
Income
Expenditure
Transfers
At 30 Sep 2024
£
£
£
£
£
General funds
422,777
537,381
(663,206)
–
296,952
Designated Funds
345,000
–
–
–
345,000
---------
---------
---------
----
---------
767,777
537,381
(663,206)
–
641,952
---------
---------
---------
----
---------
Restricted funds
At 1 Oct 2024
Income
Expenditure
Transfers
At 30 Sep 2025
£
£
£
£
£
Restricted Funds -
432,059
147,293
(137,585)
–
441,767
---------
---------
---------
----
---------
At 1 Oct 2023
Income
Expenditure
Transfers
At 30 Sep 2024
£
£
£
£
£
Restricted Funds -
481,855
116,696
(166,492)
–
432,059
---------
---------
---------
----
---------
22. Analysis of net assets between funds
Unrestricted Funds
Restricted Funds
Total Funds 2025
£
£
£
Tangible fixed assets
206,680
23,740
230,420
Current assets
399,597
962,402
1,361,999
Creditors less than 1 year
(43,831)
(532,375)
(576,206)
Creditors greater than 1 year
–
(12,000)
(12,000)
---------
---------
------------
Net assets
562,446
441,767
1,004,213
---------
---------
------------
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Tangible fixed assets
225,771
27,435
253,206
Current assets
542,145
987,391
1,529,536
Creditors less than 1 year
(125,964)
(569,267)
(695,231)
Creditors greater than 1 year
–
(13,500)
(13,500)
---------
---------
------------
Net assets
641,952
432,059
1,074,011
---------
---------
------------
23. Ethical standards
In common with many other businesses of our size and nature we use our auditors to assist with the preparation of the financial statements.
24. Analysis of changes in net debt
At 1 Oct 2024
Cash flows
At 30 Sep 2025
£
£
£
Cash at bank and in hand
1,339,777
(85,504)
1,254,273
Bank overdrafts
(5,570)
(2,233)
(7,803)
------------
--------
------------
1,334,207
( 87,737)
1,246,470
------------
--------
------------
25. Related parties
Limavady Community Development Initiative Limited (LCDI Ltd) is the sole member of Roe Valley Community Property Limited (RVCP Ltd), a company limited by guarantee, incorporated in Northern Ireland. RVCP Ltd provided catering services to the value of £12,487 (2024: £14,394) to LCDI Ltd during the year ended 30 September 2025. There was a balance of £2,350 (2024: £1,282) owed to RVCP Ltd from LCDI Ltd at 30 September 2025. During the year ended 30 September 2025, LCDI Ltd was charged a total of £61,716 (2024: £19,505) in respect of rent, service charges and other services by RVCP Ltd. At 30 September 2025, the amount owed to RVCP Ltd in relation to rent, service charges and other services was £4,057 (2024: £2,107). During the year ended 30 September 2025, LCDI Ltd received a total of £48,000 (2024: £48,000) in respect of service charges and other services from RVCP Ltd. At 30 September 2025, the amount due from RVCP Ltd in relation to service charges and other services was £38,329 (2024: £58,259).
26. Designated funds
Designated funds, as disclosed within the Analysis of Charitable Funds note, refers to that part of unrestricted funds which the directors have allocated for the purpose of developing specific future projects and future expenditure on particular capital assets.