OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Watford Women's Centre

2023-03-31-accounts

Charity registration number 1098323

Company registration number 04539479 (England and Wales)

WATFORD WOMEN'S CENTRE

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

WATFORD WOMEN'S CENTRE

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Catherine Tyack
Liz Hunter
Suzannah Trivedi
Shamini Grayson
Ann Beatty
Natalie Kemp
Stephanie Sykes
Caroline Brazier
Chief Executive Officer Fiona Miller
Secretary Fiona Miller
Charity number 1098323
Company number 04539479
Principal address 83 Market Street
Watford
Hertfordshire
WD18 0PT
Registered office 83 Market Street
Watford
Hertfordshire
WD18 0PT
Independent examiner Gary Howard FCA
Howard Wilson Chartered Accountants
36 Crown Rise
Watford
Hertfordshire
WD25 0NE
Bankers NatWest Bank Plc
72-74 High Street
Watford
Hertfordshire
WD17 2GZ

WATFORD WOMEN'S CENTRE

CONTENTS

Page
Trustees' report 1 - 5
Statement of Trustees' responsibilities 6
Independent examiner's report 7
Statement of financial activities 8 - 9
Balance sheet 10
Notes to the financial statements 11 - 21

WATFORD WOMEN'S CENTRE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2023

The Trustees present their annual report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: 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)" (effective 1 January 2019).

Objectives and activities

Charitable objects

In accordance with the Memorandum and Articles of Association, the charity is established to promote any charitable purpose for the benefit of women in Watford and the surrounding areas, (the beneficiaries) without distinction of race, sexual orientation, or religious or political or other opinion by the advancement of education and training, the preservation and support of physical and mental health, and the provision of facilities for recreation and leisure time activities in the interests of social welfare with the object of improving the quality of life of the beneficiaries.

Aims of the charity

To improve and increase the choices available to the service user through education. To enable and improve access to accurate information and advice. To improve the emotional wellbeing of the service user. To enable service users to access services at a reasonable cost.

To influence external organisations at a local, regional and national level in furtherance of these aims.

Objectives for the year

Provide a range of educational, recreational, and training courses. Provide a weekly Advice Session with qualified advisors. Provide support appointments during working hours. Provide weekly women’s support groups via Zoom. Provide a telephone support line My Ally, for women impacted by domestic abuse. Provide domestic abuse outreach services for BME communities. Provide free and low cost long and short term counselling service . Provide volunteering opportunities. Provide a worker to advocate for and support users to access external services. Engage in partnership working with other organisations, attend meetings and affiliate to other organisations.

Public benefit statement

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Volunteers

In 2022-2023 we recruited and trained 16 volunteers with lived experience to deliver our telephone support line MyAlly. They delivered 1,107 hours of support. We also recruited 4 new qualified counsellors to deliver our specialist therapy services for survivors of sexual abuse. 17 clients accessed this service during the year.

WATFORD WOMEN'S CENTRE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Activities during the year

Achievements and performance

The Board of Trustees worked with the management team to develop and publish our strategic plan for 20232026. The plan sets out our key priorities over the next three years:

During 2022/2023 we continued to overperform on our Hertfordshire Adult Family Learning Service contract, exceeding all targets and receiving recognition as one of the top two providers in the County.

Our Careers Service provision excelled this year, delivering over 175 group sessions and 45 Job Club workshops. In addition during our accreditation for the Matrix Standard (the standard owned by the Department for Education to ensure the delivery of high-quality information, advice and guidance), the assessor noted that ‘quality’ was a particular strength of our Advice and Guidance delivery.

We continued to extend our reach and improve our visibility through the work of our Women’s Advocate who attended over 120 community events during the year in order to promote our domestic abuse service and reach out to our many diverse local communities. We also developed co-location and co-facilitation arrangements with key partners such as Jobcentre Plus, Children’s Centres and local schools.

During the year our sexual harm specialist women's counselling service provided free access to psychological therapies for survivors of sexual abuse. Through funding from the Police and Crime Commissioner for Hertfordshire, we were able to appoint 2 additional qualified and experienced counsellors who delivered longer term support to 17 women.

WATFORD WOMEN'S CENTRE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Financial review

Income and expenditure

Total income for financial year 2022/23 was £524,543, compared with £493,641 for the previous year. Total expenditure for 2022/23 was £574,368, compared with £496,083 for the previous year.

Expenditure for this year includes £60,174 spent on refurbishment of the charity's premises. This expenditure was funded by restricted grants received in financial years 2021/22 and 2022/23. The majority of the grants received were received in 2021/22, but the majority of the expenditure was paid in 2022/23. Largely as a result of this there is a deficit on restricted funds during the 2022/23 year of £62,654.

Encouragingly, the charity made a surplus on unrestricted funds of £12,829 in 2022/23 compared to a deficit in the previous year of £48,111.

Balance sheet

The Balance Sheet is showing a healthy position with creditors covered by current assets.

Reserves policy

We review our reserves annually. Our aim is to support three months' unrestricted running costs for core activities, not including any designated balances, which we assess to be approximately £75,000 of reserves. At this level the trustees feel that they would be able to continue current activities of the charitable company in the event of any significant drop in funding.

In the current financial year unrestricted and undesignated reserves are currently £124,255 (2022: £96,426) which exceeds the targeted amount. The management team with the trustees are in the process of reviewing the financial position of the organisation and the excess in reserves will be considered as part of that.

Principal sources of income

Our principal sources of income have historically comprised of grant funding and project funding. Careful planning ensures that our income is used to best effect to deliver the charity's objects.

Investment policy

We have examined our investment practice this year and will be putting surplus funds on deposit to maximise the income we make from investments over the coming financial year.

Risk management

We have reviewed the possible risks to the charity, each of the sub-groups have assessed the risks relating to their area of work and reported back to the main board. The greatest risk to the charity is still considered to be financial sustainability; the organisation continues to expand on its income generating work in line with the business plan.

WATFORD WOMEN'S CENTRE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Plans for the future

We continue to seek opportunities to secure unrestricted funding. In 2023/24 we will focus on reviewing our counselling services with a view to developing a full cost offer that will generate additional income and allow our trainee counsellors to gain valuable experience after they qualify.

In line with the new national framework for the qualification of domestic abuse workers we will seek to train our domestic abuse staff as Independent Domestic Violence Advisors (IDVAs) This will better position WWC to access commissioning opportunities for domestic abuse services and therefore improve our services for women.

We will continue to deliver MyAlly, our telephone support line staffed by volunteers with lived experience of domestic abuse. Funding for the continuation of this valuable service will be sought via a range of grant and funding bodies including the National Lottery.

We will maximise the opportunities afforded by our building refurbishment to increase engagement with the Women’s Centre and our services. It is also our intention to source and secure an offsite training Centre for the delivery of our mixed gender Education and Training provision.

We will focus on the implementation of our strategic priorities in 2023/24 with a view to embedding a comprehensive customer relationship management system and improving our monitoring and reporting capabilities.

Structure, governance and management

Watford Women's Centre was registered as a Company Limited by Guarantee on 19 September 2002 and was registered as a charity on 2 July 2003.

The company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association. The Articles were amended by Special Resolution at the 2009 AGM to enable members to serve for 3 years before re-election.

Recruitment of Trustees is largely through public advertisement All potential Trustees go through an application process, including a visit to the Centre, completing application forms and an interview with at least two Trustees who make a recommendation to the main board. If successful, the applicant is co-opted to the board until the next AGM when they stand for election. Trustees can then stand for re-election on a three yearly cycle. During the financial year, our Treasurer, Jyoti Tailor, stepped down due to plans to moving abroad for work; we are very grateful to her for her contribution to the charity. We welcomed our new Treasurer, Caroline Brazier, a management accountant with a specialism in charity accounting.

Ruth Paterson served as Chair of Trustees during the financial year. As she stepped down due to ill-health after the end of the financial year (on 29 September 2023), this report is signed by the new Chair of Trustees, Catherine Tyack. We are very grateful to Ruth for her contribution to the charity as trustee then more recently, Chair.

Conflicts of interest are recorded. There were no registered conflicts of interest in this year.

WATFORD WOMEN'S CENTRE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

The structure of the Centre consists of a CEO, Specialist Staff, Office Staff, Tutors, Trustees and Volunteers.

In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

The following Trustees served on our board since the start of the financial year: Catherine Tyack Liz Hunter Suzannah Trivedi Jyoti Tailor (Resigned 10 December 2022) Shamini Grayson Shalina Ganatra (Resigned 10 December 2022) Ann Beatty Natalie Kemp Stephanie Sykes Ruth Paterson (Resigned 29 September 2023) Caroline Brazier (Appointed 7 July 2022)

The Trustees' Report was approved by the Board of Trustees.

Catherine Tyack Trustee Dated: 20 November 2023

WATFORD WOMEN'S CENTRE

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2023

The Trustees, who are also the directors of Watford Women's Centre for the purpose 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 Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that 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.

WATFORD WOMEN'S CENTRE

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WATFORD WOMEN'S CENTRE

I report to the Trustees on my examination of the financial statements of Watford Women's Centre (the charity) for the year ended 31 March 2023.

Responsibilities and basis of report

As the Trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Gary Howard FCA

Howard Wilson Chartered Accountants 36 Crown Rise Watford Hertfordshire WD25 0NE

Dated: 21 November 2023

WATFORD WOMEN'S CENTRE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023

Current financial year

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Voluntary income including donations and legacies
3
20,307
56
Activities and facilities for the benefit of women in
Watford
4
108,330
394,037
Fundraising activities
5
1,588
225
Total income
130,225
394,318
Expenditure on:
Community fundraising, events and sponsorship
6
197
512
Activities and facilities for the benefit of women in
Watford
7
124,786
448,873
Total resources expended
124,983
449,385
Net incoming/(outgoing) resources before
transfers
5,242
(55,067)
Gross transfers between funds
7,587
(7,587)
Net income/(expenditure) for the year/
Net movement in funds
12,829
(62,654)
Fund balances at 1 April 2022
341,426
94,619
Fund balances at 31 March 2023
354,255
31,965		 Total
2023
£
20,363
502,367
1,813
524,543
709
573,659
574,368
(49,825)
-
(49,825)
436,045
386,220		 Total
2022
£
24,248
468,838
555
493,641
-
496,083
496,083
(2,442)
-
(2,442)
438,487
436,045

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

WATFORD WOMEN'S CENTRE

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Prior financial year

Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income from:
Voluntary income including donations and legacies
3
24,248
-
Activities and facilities for the benefit of women in Watford
4
98,167
370,671
Fundraising activities
5
555
-
Total income
122,970
370,671
Expenditure on:
Activities and facilities for the benefit of women in Watford
7
171,081
325,002
Total resources expended
171,081
325,002
Net income/(expenditure) for the year/
Net movement in funds
(48,111)
45,669
Fund balances at 1 April 2021
389,537
48,950
Fund balances at 31 March 2022
341,426
94,619		 Total
2022
£
24,248
468,838
555
493,641
496,083
496,083
(2,442)
438,487
436,045

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

WATFORD WOMEN'S CENTRE

BALANCE SHEET

AS AT 31 MARCH 2023

Notes
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within
one year
13
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
14
Unrestricted funds
Designated funds
15
General unrestricted funds		 2023
£
4,415
199,539
203,954
(12,734)
230,000
124,255		 £
195,000
191,220
386,220
31,965
354,255
386,220		 2022
£
31,446
236,244
267,690
(32,974)
245,000
96,426		 £
201,329
234,716
436,045
94,619
341,426
436,045

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 20 November 2023

Catherine Tyack Caroline Brazier Trustee Trustee

Company Registration No. 04539479

WATFORD WOMEN'S CENTRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Charity information

Watford Women's Centre is a private company limited by guarantee incorporated in England and Wales. The registered office is 83 Market Street, Watford, Hertfordshire, WD18 0PT.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: 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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aims and uses of the restricted funds are set out in the notes to the accounts.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

WATFORD WOMEN'S CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

1.5 Expenditure

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular purposes they have been allocated on a basis consistent with the use of resources.

Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters.

Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings 2% straight line Office equipment 25% straight line Computer equipment 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

WATFORD WOMEN'S CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12 Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

WATFORD WOMEN'S CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

3 Voluntary income including donations and legacies

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Donations and gifts
20,307
56
Government grants receivable
-
-
20,307
56
Government grants receivable
Hertfordshire County Council
-
-
-
-		 Total
Unrestricted
funds
2023
2022
£
£
20,363
22,748
-
1,500
20,363
24,248
-
1,500
-
1,500		 Total
Unrestricted
funds
2023
2022
£
£
20,363
22,748
-
1,500
20,363
24,248
-
1,500
-
1,500
24,248
1,500
1,500
Fees received
Performance related grants
Analysis by fund
Unrestricted funds
Restricted funds
Performance related grants
Herts Adult and Family Learning Service (including DCLG Migrant fund)
Exemplas Ltd
People's Postcode Lottery
Big Lottery Fund/Awards For All
Police & Crime Commissioner for Hertfordshire
TK Maxx
The Clothworkers' Foundation
National Lottery Community Fund: Phoenix Rising
Garfield Weston Foundation
Other		 2023
£
288,693
213,674
502,367
108,330
394,037
502,367
-
10,000
-
117,394
40,000
-
-
41,753
-
4,527
213,674		 2022
£
97,446
371,392
468,838
98,167
370,671
468,838
135,026
-
13,000
91,233
30,500
15,200
20,000
34,852
20,000
11,581
371,392

WATFORD WOMEN'S CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

5 Fundraising activities

Unrestricted Restricted **Total ** Unrestricted
funds funds funds
2023 2023 2023 2022
£ £ £ £
Fundraising income 1,588 225 1,813 555

6 Community fundraising, events and sponsorship

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Community fundraising, events and sponsorship
Advertising
197
512
197
512		 Total
2023
£
709
709		 Total
2022
£
-
-

WATFORD WOMEN'S CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

7 Activities and facilities for the benefit of women in Watford

Staff costs
Depreciation and impairment
Supervision, trainers and other staff costs
Project costs
Premises costs
Insurance costs
Repairs and maintenance costs
Office costs
Refurbishment costs
Communication costs
Travel and subsistence costs
General expenses
Legal and professional costs
Bank charges and other finance costs
Governance costs
Analysis by fund
Unrestricted funds
Restricted funds		 2023
£
350,453
6,330
64,107
1,176
24,725
2,163
2,678
12,990
60,174
34,498
79
8,614
2,019
1,133
2,520
573,659
124,786
448,873
573,659		 2022
£
321,013
6,330
66,758
3,503
19,153
4,911
11,321
8,286
16,489
26,102
340
7,829
1,549
46
2,453
496,083
171,081
325,002
496,083

Governance costs comprise fees paid to the independent examiners of £2,520 (2022: £2,400), and trustees' expenses of £nil (2022: £53).

8 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

WATFORD WOMEN'S CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

9 Employees

Number of employees

The average monthly number of employees during the year was:

Charitable activities
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2023
Number
18
2023
£
321,938
22,487
6,028
350,453		 2022
Number
15
2022
£
295,672
19,825
5,516
321,013

There were no employees whose annual remuneration was £60,000 or more.

10 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

11 Tangible fixed assets

Tangible fixed assets
Cost
At 1 April 2022
At 31 March 2023
Depreciation and impairment
At 1 April 2022
Depreciation charged in the year
At 31 March 2023
Carrying amount
At 31 March 2023
At 31 March 2022		 Land and
buildings
Office
equipment
Computer
equipment
£
£
£
250,000
40,958
100,066
250,000
40,958
100,066
50,000
40,958
98,736
5,000
-
1,330
55,000
40,958
100,066
195,000
-
-
200,000
-
1,329		 Total
£
391,024
391,024
189,694
6,330
196,024
195,000
201,329

WATFORD WOMEN'S CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

12
Debtors
Amounts falling due within one year:
Trade debtors
13
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2023
£
4,415
2023
£
6,536
2,098
1,495
2,605
12,734		 2022
£
31,446
2022
£
6,363
22,765
1,749
2,097
32,974

WATFORD WOMEN'S CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

14 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds
Balance at
1 April 2021
Incoming
resources
Resources
expended
Balance at
1 April 2022
r
£
£
£
£
Heritage Lottery Grant
514
-
(514)
-
Step2Skills (formerly HAFLS)
16,303
135,026
(135,770)
15,559
Police & Crime Commissioner for Hertfordshire
-
30,500
(30,500)
-
MyAlly Project
-
91,233
(91,233)
-
What Women Want Project - Big Lottery Fund
2,322
-
(2,322)
-
Lifelines
13,133
-
(13,133)
-
John Lewis Community Fund
15,000
-
(15,000)
-
Phoenix Rising
-
34,852
(34,852)
-
Refurbishment fund
-
66,060
-
66,060
Locality Budget grants
1,300
-
(1,300)
-
Translation services fund
-
13,000
-
13,000
Other
378
-
(378)
-
48,950
370,671
(325,002)
94,619		 Movement in funds
Incoming
esources
Resources
expended
£
£
-
-
180,143
(199,246)
40,000
(44,755)
121,641
(91,476)
-
-
-
-
-
-
42,534
(41,033)
10,000
(60,174)
-
-
-
(12,701)
-
-
394,318
(449,385)		 Transfers
Balance at
31 March 2023
£
£
-
-
3,544
-
4,755
-
-
30,165
-
-
-
-
-
-
-
1,501
(15,886)
-
-
-
-
299
-
-
(7,587)
31,965		 Transfers
Balance at
31 March 2023
£
£
-
-
3,544
-
4,755
-
-
30,165
-
-
-
-
-
-
-
1,501
(15,886)
-
-
-
-
299
-
-
(7,587)
31,965
31,965

WATFORD WOMEN'S CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

14 Restricted funds

(Continued)

Heritage Lottery Grant is funding for the Oral History Research Project.

Step2Skills provides for the delivery of Community Learning in deprived neighbourhoods and Personal development programmes. The course offer includes: recreational and vocational learning of which a proportion is accredited using nationally recognised qualifications.

The grant from the Police & Crime Commissioner for Hertfordshire is funding for counselling and a women's advocate.

MyAlly is a Big Lottery funded project to provide a support telephone line, email and face-to-face service for women impacted by domestic abuse or relationship struggles.

What Women Want project, is a lottery funded programme to improve the mental health of women who were isolated by developing and supporting a variety of social groups.

Lifelines is funding from Lifelines International Fund for Education to enable continuation of domestic abuse support and counselling services to women most in need.

John Lewis Community Fund is to support people back into work.

Phoenix Rising is a programme, funded by the National Lottery Community Fund, focused on specialist domestic abuse casework advocacy and support for BAME and migrant women who face significant barriers to access and take up of support services.

The refurbishment fund includes grants from Garfield Weston Foundation, TK Maxx, The Clothworkers' Foundation, Watford & Three Rivers, Exemplas Ltd and Locality Budgets towards the refurbishment of the charity premises. A transfer has been made to recognise refurbishment costs that were incurred in the previous accounting period.

The translation services fund is a grant from the People's Postcode Lottery.

WATFORD WOMEN'S CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

15 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Movement
in funds
Balance at
1 April 2021
Incoming
resources
Balance at
1 April 2022
Resources
expended
£
£
£
£
Salary Contingency Fund
35,000
-
35,000
-
Property Fund
210,000
-
210,000
(5,000)
245,000
-
245,000
(5,000)		 Transfers
Balance at
31 March 2023
£
£
-
35,000
(10,000)
195,000
(10,000)
230,000		 Transfers
Balance at
31 March 2023
£
£
-
35,000
(10,000)
195,000
(10,000)
230,000
230,000

The salary contingency fund has been created to deal with any potential charge which may arise due to changes in legislation. This fund will be reviewed annually.

The property fund comprises the charitable company's premises which are required for day to day operations.

16 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2023
2023
£
£
Fund balances at 31 March 2023 are represented by:
Tangible assets
195,000
-
Net current assets
159,255
31,965
354,255
31,965		 Total
Unrestricted
funds
Restricted
funds
2023
2022
2022
£
£
£
195,000
201,329
-
191,220
140,097
94,619
386,220
341,426
94,619		 Total
2022
£
201,329
234,716
436,045

17 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).