Charity registration number 1100976 Company regi$tration number 04777720 {England and Wales) LANCASHIRE WOMEN ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
LANCASHIRE WOMEN LEGALAND ADMINISTRATIVE INFORMATION Tru8tee8 L B Ha00d (Chair) M A Lishman E L Plach¢iak P Geraghty MBE C Barrow L Brown D Livesey H Hamilton-smith Charlty number 1100976 Company number 04777720 Reglstered offlce 21-23 Blackbum Road Accrington BBS 1HF Chief executive officer Amanda Greenwood Auditor Smf(h & Goulding Limited 2 Soulhport Road Chorley Lancashire PR71LB Bankers Unity Trust Bank Nine Brindleyplace Birmingham B12HB Solicitors Robinson's Solicitors Beckett House 17 Sovereign Court refields POUon FY6 8JX
LANCASHIRE WOMEN CONTENTS Page Chairperson's report Chief Executive Officels report Trustees, report 3-11 Independent auditor's report 12-14 ststemenl of financial activities 15 Balance sheet 16 Stsl8ment of cash flows 17 Notes to Ihe financial statements 18-31
LANCASHIRE WOMEN CHAIRPERSON'S AND CHIEF EXECUTIVE OFFICER'S REPORTS FOR THE YEAR ENDED 31 MARCH 2024 CHAIRPERSON'S REPORT Board Devèlopment The Board of Trustees has had a productive year consolidating its Position of accountabilty and ersight of Lancashire Women,. building on the foundation blocks of last year when I reported on the relatively newness of the Board in its current format. Our foGUS has been on strengthening the govemance ProsseS for the organisation. We have developed a new governance framework - the Govemance Code that now underpins the work of the Board's three subcommittees. We have also idenlified lead trustees to offer support and oversight to identified areas i.e. SafegLrding and clinical governance. In doing so, we have reinforced the good relationships between core staff and trustees ensuring a shared understanding and close working partnership. Providing oversight and scrutiny as independent members of Ihe Board ensures that the organisation is perfomiing well in the activities it is engaging in, the services it is providing and, above all the vision of the organisation. There are four main things to get right that good governance supports us in doing.. 1. Being dear on whal we are trying to athieve as an organisation and the drfference we are making for those support 2. Making sure that everyone in the organisation understands the commitment and the direction we are travelling in to achieve su¢¢ess for our clients 3. That the organisation's resources are managed correctly and appropriately 4. That risks to the organisation are intercepted and mitigated against We have achieved some significant su¢¢es$es within our governan framework over the past year. Our safeguarding prOdureS have been strengthened and Lancashire Women are now represented on the Lancashire Safeguarding Board raising 8W8reness of the issues fad in trying to bridge Ihe divide belween statutory and third sector parties in supporting vulnerable dients. We continue to maintain financial se¢urty for the organisation and have been able to inf(iate a substantial pay award after a review of salary scales across the sector. We have held discussions and listened to our colleagues regarding the issues faced during these times of austerity and have provided support where needed. INe continue to monitor our contracts and service delivery and were Sussful in being able to open a new centre in Preslon to support vulnerable clients as part of our Ministry of Justice conlracl. As 2025 approaches we look towards our 40th Anniversary of Lancashire Women. This will be a time to reflect on and to celebrate what we have achieved but, it is also a time to look ahead. The Board will be reviewing the Strategic Plan and looking to take the organisation forward by focussing on business development, fundraising and securFng our income. We will be looking to widen our visibility as an organisation at a national and regional level and determining how we can Influen the political arena to support and improve the overall rights of women and girls. The Board itself will require further consolidation so that it is in a strong position to take the organlsation through the coming year. We will want to explore investment in trustee's personal development so that we are well*quipped to undertake our roles. We are aware that the Third Sector is struggling to recruit to and retain trustees. we at Lancashire Women have experienced high attrition rates over the years and have been unable to maintain the maximum quota of eleven trustees. There is a certain amount of work to do to improve the recruitment and retention of new trustees ensuring that we have a wide range of knowledge and expertise on the Board in order to be the best we can. My thanks. as aEways. to the Trusle8s of th8 Board, the Senior Leadership Team and all our colleaguès across Lancashire Women for their hard work and dedication throughout the year. Lynette HaThvood Chair of the Board of Trust88S
LANCASHIRE WOMEN CHAIRPERSON'S AND CHIEF EXECUTIVE OFFICER'S REPORTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 CHIEF EXECUTIVE OFFICER'S REPORT Whilst the worfd moves further into a post covid mode, th8 effecls of that period, coupled with the ongoing cost of living impacts continue to bite those individuals and communities who struggle whether financially, mentaltyl emotionally.. arKI across all aspects of life. Our work over these last Iwelve months has seen an increase in people needing our help and services as we anticipated but we have also seen an increase in the severity and depth of that ne8d. As would be expected therefore, we are also b8ginning to work wilh people who are highty traumatised and distressed with very little of the welfare safety net left lo'catch, and support them. The political and economic decision making nationally has nol helped in any way and the funding ¢lmate for third sector organisations overall is fierce and continues to be competitive with an ever-declining range of funding options. And yet... Lancashire Women continues to be resourceful in its income generation and we have begun to develop altematives to how we geneTate that financial resource as well as make careful choi¢es in what we bid for ... and that includes saying no and not chasing money for money's sake. I pay tribute as always to everyone who is involved in what we do... starting with our Trustees, my Senior Leadership team colleagues, our managers and team leads through to our frontline workers and volunteers across all four of our workstreams. Lanca$hire Women is strong and sucSsful Cause of all of the commitnEnt and work achieved at every level of the organisation. This year however, I want to also specifically highlight the work of those staff who sit one step behind the frontline. Our so called 'backroom' or infrastructure team - HR staff, marketing and ¢ommunications, administrative and reception staff, Finance team and our IT l Digital staff...All bringing vitally important skills and expertise which the organisation cannot fail to have... And yet all these roles and responsibilities are not directly recognised by funders when they support our work- or we end up having to argue for the percentage of costs associated with these roles as rf they were a luxury. This adds to the challenge for us and all charities but does not stop us in ensuring we secure those crucial skills - cutting our doth accordingly to maintain our ¢ommitment to serving women and girls as our prime ¢ortern and to the best of our ability knowing worf(ing with them helps them to change their lives and move foThiard positively and confidently. Amanda Greenwood
LANCASHIRE WOMEN TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report together with the audited financial statements for the year ended 31 March 2024. The Trustees confirn) that the Annual Report and financial ststements of th8 company comply with current ststutory requirernents, the requ1MentS of the company's goveming document and the provisions of the statement of Recommended Practi (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard appIlble in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). Since Ihe charitable company qualifies as small under section 383. the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Directo¢s Report) Regulations 2013 is not required. OBJECTIVES AND ACTIVITIES POLICIES AND OBJECTIVES In setting objectives and planning for aciivities, the Trustees have given due consideration to ger81 guidance published by the Charities Commission relating to public benefft and in particular to its supplementary public benefit guidan (Section 17(5) of the 2011 Charities Act) on the charitable company's activities. The charity's poltcies and objectives are the provlsion of information, support and courses relating to all aspects of women's lives. b. ACTIVITIES FOR ACHIEVING OBJECTIVES The charity engaged in the following activilies to meet its objectives., seICe5 to support positive mental health and emotional wellbeing and induding provision of psychological therapies., ii. The provision of advice, information, guidan and employment support. iii. Learning, skills and personal development opportunilies; iv. Specialist services for the most vulnerable and at risk women in our communities, including women in the criminal justice system.
LANCASHIRE WOMEN TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Funding was gratefully received from: Achieve NW Active Lancashire ARC Counselling Blackbum with Darwen Borough Council Blackpool Teaching Hospital British Gas Energy Redress Fishwick & St Matthews Health Education England Household Support Fund Hyndbum Leisure Keyfund Lan¢ashire County Council MOJ More Positive Together National Lottery New Look NHS Lancashire & Cumbria ICB Selnet Ltd Shetter Smallwood Twst VCSFE VOLUNTEERS Our volunteers make a vital contribution to the organisation, bringing on board skills. expertise and communty knowledge. Our volunteers undertake a range of roles inGluding administration, mentoring, seNice user support and therapy. This area of the organisation is managed by a Volunteer Lead which has resulted in more volunteers coming on board along with a new prOS being put in pla. There is currenlly a Befriending Pilot taking pla and for the future we are looking at more volunteer development along with sourcing funds to help ingrain a more comprehensive volunteer infrastructure in order to build resources and manage volunteer capaciiy. ACHIEVEMENTS AND PERFORMANCE Our vision is where all women in Lancashire are valued and treated as equals. To empower women to be able to transfomi their lives by bringing them together to: Find their voice Share experiences and understanding Develop their knowledge and skills Challenge stereotypes and misconceptions about them so that they can have choices in becoming the individuals Ihey want to be.
LANCASHIRE WOMEN TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Communltles, Mentsl Health and Emotlonal Wellbelng Programme Providing support to women and their families to help improve their emotional wellbeing and resilience providing them with the skills. knowledge and tools to better manage their mental health within communities. Service delivery includes: Talking Therapies {East Lan¢ashire) -psy¢hologi¢al treatments for mental and emotional problems like stress, anxiety and depression. This is through face to fa, telephone or onlinè depending on the needs of the individual either on a one-to-one basis or through a group. We have continued to provide support to different priority groups including those with long term conditions. peri natal and BAME Communities. We have expanded our networks and engagement work to ensure we reach those most in need of the service. We have piloted new pathways this year. which has proven su¢¢essful. NICU (Neonalal intensive care) - Burnley- providing support at the hospital bedside to families at a critical time. This is through therdpeuti¢ interventions long with signrosting into Lancashire Women wider serVIS If needed. Family Wellbeing servi (Blackburn with DaThven and BlackpoolF Through the Stsrt for Lrfe programme, one to one therapy to families a¢£essing the family hubs in Blackbum with Dafwen and Blackpool has been provided. In Blackpool hospital we provide bedside support on the ward. This builds on our track record Ihrough the Starting Well programme which previousty funded our peri natal offer. The team also deliver bespoke groups within the family hubs and ¢onne¢X families into the wider Lancashire Women sep4ices. POW (Positive Outcomes for Women)- Blackpool - Supporting women's emotional health and wellbeing using person centred approach providing them wtth access to one-lo-one counselling, group adiviiies and peer support from previous service users. The team signpost into wider Blackpool based services to build connections and improve health and wellbeing outcomes. Delivery is through a combination of employed staff and volunteers. Raising Aspirations - Blackburn with Darwen -Reducing the number of individuals who are unable to progress and reach their true potential due to specific barriers and issues. Using a person centred approach to help individuals overcome challenges that stop their abilty to improve their heafth and wellbeing, employment prospects or fijture aspirations. Delivered through a specialist team of caseworkers and counsellors.
LANCASHIRE WOMEN TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Justlco and Safety Programm• Working with women to build their resilience and skills to help reduce the number of women enteriw the criminal justice system_ The multi disciplined team provide holistic support through a whole person approach to ensure women are diverted away from the criminal justice system and have improved outcomes. Projects indude: CRS (Comrnunty Rehabilitative Servi) -Pan Lancashire -Providing communty and prison-based support to women who are involved in the criminal justice system. Delivering intensive one to one work through a team of case and resettlement workers who provide bespoke interventions that are trauma informed and female speciftc to help irnprove outcomes for women. Snap back recovery - Lancashire- Focused on women who are within the criminal justi system and who are struggling with dependency and the ability to ac$$ treatmenl. Recovery workers provide one to one support to overcome the barriers to accessing treatment whilst sunposting to the wider Lancashire Women offer. Have dedicated therapist who provides one to one support. Recalls Project - Pilot programme that provides support to women who are returning to custody on +2 occasions. Our dedicated recalls officer works intensively and innovatively with the wornan to mitigate their retum to custody and identify any gaps in provision or support to enable them to reintegrate back into the community. Money Advice (Debt and Welfare) and Energy Advice Our Money and Energy advice team has continued to grown and expanded. They provide specialist advice to families across Lancashire induding debt and welfare and energy support. The Handywoman SeiCe is part of this team and we now have a female Apprentice on the team and a third handywoman. They have Continu to provide small scale repairs as part of our energy assessment and work has begun on how to turn this work into a mmercial offer. We provide money and energy advi through ontrto-one support, group sessions, case work, dropins and outreath in community settings. We are funded by.. Energy Redress, British Gas and the household support fund which enables Lts to continue this work. We have seen the demand for this Servi grow and have provided essential goods, budgeting packs and emergency supplies alongside this offer. We work with service users to maximise their income and minimize their expenditure along with helping them apply for benefits. have debts written off and apply for grants or small pots of funding to support them. We have a specialist team who have or are working towards the Cert MAP (Level 5 Certificate in Money Advi Practice) who work on this setvice. Staff regularfy undertake CPD and training to improve their knowledge and skills and improve the overall qualty of the service. This work is regulated by the FCA (Financial Conduct Authority) to ensure we adhere to the necessary standards. Employment and Guidance Programme Our team work with women to improve their skills and knowledge and help them move closer to the la)our market. Projects include.. Employment Advisors into Talking Therapies- East Lancashire - the employment advisors work alongside the therapy team to provide tailored support to the individual in relation to their employment goals. Example support includes: helping them progress at work, improve relationships in the workplace, reasonable adjustments. retuming to work after a period of absence, career change or managing stress in the workplace. This team work cbsely with the Talking Therapies team to identify referrals. MPT Steps (More Positive Together) - Pan Lancashire project fund through Ihe European Social Fund that provides tailored one to one support to job seekers who may have renIty become unemployed or are uneconomically inactive. Support includes confidence building, help with CV writing and inteNiew preparation, job search and application along with any tailored support that is needed. All will help improve th8ir self-esteem and employability skills.
LANCASHIRE WOMEN TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 INVESTMENT POLICY AND PERFORMANCE The Trustees retain funds in an interest bearing account plalfomi and take advantsge of the Interest received. The platform enables us also to mitigate the risk of bank failure risk under the FCSC Protection. The charity also owns a small number of listed investments which again reflect the current economic dimate. FINANCIAL REVIEW GOING CONCERN After making appropriate enquirtes, th8 trustees have a reasonable expe¢tation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going ¢oncem basis in preparing the financial statements. Further details regarding the adoption of the going concem basis can be found in the Accounting Policies. b. FINANCIAL RESULTS FOR THE YEAR In the year ended 31 March 2024 the charitsble company receNed incoming resources of £2,327,350 i) unrestri¢ted funds for the adivities of the Charity. Resources expended in the year were £1.943,506. After taking account of the decrease in investment values of £5,387 the surplus for the year was £378,457 which has been added to the charity reserves. In addition to this the charity received restricted funds of £1,356.569. The expenditure from r8stricl8d funds was £1,308,344 resulting in a surplus of £48,225 which has been added to restTiCted funds carried foard. The overall surplus for the year was therefore £426,682. At 31 March 2024 the charitable company held Total Reserves of £1.550,880. This comprises restricted funds of £97,166, unrestricted general funds of £1,293,643, and a designaled fund of £160,071. ¢. RESERVES POLICY Lan¢ashire Women is required to hold resenrfes in order to achieve ils charitable objeclives. Reserves of cash enable current activities and liabilities to be met in the event of a significant drop in funding. Designated funds are held to cover potential wind-up costs which may arise in the event of sources of funds becoming unavailable. The Trustees therefore consider it both prudent and realistic to hold general funds of between &6 months running costs within which 3 months should be cash balan¢es. The Twslees through their Finance and Audit Risk Sub Committee and otherwise will keep the level of reseples under review and take steps to keep any available surplus funds to tt)e resepie range outlined above fully invested in line with the Charity's Investment Policy or utilised to achieve charitable objectives. They will also seek to ensure, through management, that no decisions of the charity allow the general fund to drop beli)w the levels described above considering the option for sustaining resee$ in good time. The following are the types of funds:_ Restricted funds are funds subject to special trusts specified by the donor. • Restricted income funds are received for spending in the short-teTm on the specified purpose. Permanent endowment funds are donations Ihal have been given to a charity to be held as capital with no power to convert the funds to income. These may be cash or other assets. • Exp8ndable endowment funds are donations that have been given to a ¢harity to be held as capital, where the trustees do have a discretionary power lo use the funds as income. Unrestricted funds are funds available for the purposes of the charbty, to be spent as the trustees see fit. Designated funds are unrestricted funds that have b8en earmarked for a parti¢ular purpose by the trustees. General fvnds are unrestricted funds which have not been earmarked and may be used for Ihe charity's objectives.
LANCASHIRE WOMEN TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 d. RISK MANAGEMENT The Trustees have assessed the major risks to which the charitable company is exposed. in particular those related to the operations and finances of the charitable company, and are satisfied that Systems and produreS are in place to mitigate our exposure to th8 major risks. Principal risks and strategies include: Govemance Board of Trustees skills gaps and abilty to fill these.. Recruitment has proven challenging with some key areas of expertise required, however a revised prsS has been implemented and will continue to be refined. Staff chum.. as funding programmeslcontrads shift and change, the challenge to minimise staff chum and the demand on HR capacity is constant. Recruitment and induction processes have been updated and revised to ènsure staff are 5UPPOrted both on entry and exit of the organisation wrth feedback obtained Consistently and fed back into a continuous improvement programme. staff management.. 8 mixed range of 'middle' management ability presents issues for dealing with staff generally to support frontline delivery but also in executing consistent and effective communications. New processes and activities have been intrOdUd alongside training and coaching where there continues to be weaknesses identified. Operational Competition from similar organisations. This risk could impact on the charity as follows= loss of contract income, redUd fundraising potenligl, reduced public profile and profitability of trading activities. To mitigate these risks the following strategies have been PLrt in place: monitor and assess perfom18nce and quality of service, rev¢ew market and methods of service delivery, agree fund-raising strategy, ensure regular contact with funders and monitor public awareness and profile of the charity Finan¢ial Dependency on income sources. The potential impact that this risk could have is the cash flow and budget impact of loss of income source. Steps in place to mitigate the risks are.. identify major dependences, implement adequate reserves policies and execute diversrfi¢ation plans. Environmentsl or External fa¢tor8 The current slate of the UK economy and the pressures exerted by global as well as domesti¢ events and deasions will play a significant part in the fortunes not only of Lancashire Women but across all $edors for the foreseeable future. There are some specific challenges- the effect of inflation increases on static, long standing grant and contract values, energy prices for us as an organisation as well as for our service users and clients, overall 'cost of living, increases that add to the demand for our support but where competition for limited resources could potentially reduce what we can achieve.
LANCASHIRE WOMEN TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 FUTURE DEVELOPMENTS As we move fijrther from the immediate 8ftermath of the pandemic and with a new government recently elected offering improved political and economic stabilty and predictability, our hope is to revert back to a strategic planning cyde of three years. This will allow us the time and 'bandwith' to develop key areas of w(xk within the organisation. However for our next 12 monlhs our priorities include- An updated EDI strategy. Exploring the potential for a 100-80.'100 model of working (our version of a 4 day working week): The further diversification of income generation and a focus on commercial funding opportunities These activities and more will ensure we will be able to maintain a strong core offer as well as bcussing on our wider sustainability which also includes reducing our ¢arl)on footprint as an organisation. The prooss of developing and supporting our Board of Trustees will continue so that our govemance infrastructure progresses and enables the organisation to 6eTve our beneficiaries and meet their needs as effectively as possible. STRUCTURE, GOVERNANCE AND MANAGEMENT a. CONSTITUTION The charitable company is a charitable company limited by guarantee and was set up by a Memorandum of Assoaation dated 27 May 2003 (last amended 17 September 2014) and amended by Special Resolution dated 21 October 2003, 1 October 2009 and 21 July 2017, as amended by a Certificate of Incorporation on change of name. The charity was formerly known as The Women's Centre for Blackbum and District Limited. The registered charity number is 1100976. The trustees. who are also the directors for the purpose of cornpany law. and who served during the year and up to the date of signature of the financial statements were: L B Harwood (Chair) M A Lishman E L Plachciak J Lunn P Geraghty MBE C Barrow L Brown D Livesey J Ewans H Hamilton-smith C Cobb (Resigned 3 October 2023) (Resigned 29 November 2023) (Resigned 19 April 2023)
LANCASHIRE WOMEN TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES The management of the charitable company is the responsibility of the Trustees who are elected and Copted under the terms of the Artides ofAsso¢iation. In order to become a trustee the individual musl have a strong Inte$t and passion for supporting women in line wilh our organisalional aims and understand the challenges faced by women in our communities. The individual must possess a skill in a specific area which are stated in our 'Trustee Recruiiment and Information Pack 2016. With a view to selecting and appointing the correct trustees we have an essential and desirable criteria which sets out personal attributes, skills and experience that have to be met in order to become trustee. This can also be found within our Trustees Recruitment and Information Pack 2016,. c. ORGANISATIONAL STRUCTURE AND DECISION MAKING The charity employed a full time equivalent of 88 members of staff to provide seNices. Day to day management of the charity is delegated by the Board of Trustees to the CEO, with the support of the Senior Management Team and Operational Management Team. The Trustees meet bi-monthly and receive financial managernent reports and senior management team reports regarding progress against our agreed strategy. d. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES Trustees are inducted in line with Charity Commission recommendations. Th8 do¢um8nts in use include a Trustee contract, induction programme and disck)sure of any conflicts. All trustees sign a confidentiality agreement. 10-
LANCASHIRE WOMEN TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Statemont of trustses, responsibilities The trustees, who are also the directors of Lancashire Women for the purpose of company law, are responsible for preparing the Truslee5' 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 ststements for each financial year which grve a true and fair view of the state of affairs of the Gharity 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 tfustees are required to: - select suitable accounting policies and then apply them ¢onsistently- - observe the methods and principles in the Charities SORP.. - make judgements and estimates that are reasonable and prudenl" state whether applicable UK Accounting Standards have been followed, subject to any material departures dis¢losed and explained in the financial statements,. and prepare the financial statements on the going concem basis unless it is inappropriate to presuw£ that the charity will continue in operation. The trustees are responsible for keeping adequate accounling records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the finanual statements ¢omply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hen¢e for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor In accordance with the company's articles. a resolution proposing that Smith & Goulding Limited be reappointed as auditor of the company will be put at a meeting of the Trustees. Disclosure of Infomiation to audltor Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confimied that they have laken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information. The trustee5' report was approved by the Board of Trustees. Harwood Ichairl Trustee 11
LANCASHIRE WOMEN INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LANCASHIRE WOMEN Opinion We have audited the financial statements of Lancashire Women (the 'tharity') for the year ended 31 Marth 2024 which comprise the statement of financial activities, the balance sheet. the statement of cash flows and notes to the financial statements, induding significant accounling policies. The financial reporting framework that has been applied in theii preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Finanual Reporting Standard applicable in the UK and Republic of Iland (United Kingdom Generalty Accepted AGGounting Pra1). In our opinion, the financial ststements.. give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming reSoUrS and application of resources. including its income and expenditure. for the year then have been properfy prepared in accordance with United Kingdom Generally Accepted Accounting Practi. and have been prepared in accordan with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standard5 on Auditing (UK) (ISAS {UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit ol the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audii of the financial statements in the UK, induding the FRC'S Ethical Slandard, and we have fulfilled our olher ethical responsibilities in accordance with these requirements. We b81ieve that Ihe audit eVIder we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financi81 statements, we have conduded that the trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomed, 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 Iwelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going cOnM are described in the relevant sections of this report. Other inforniation The other information comptises the information included in the annual report other than the fina[la1 ststements and our auditors report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, eXpt to the extent olherwise explicitly stated in our report, we do not express any fonll of assurance conclusion thereon. Our responsibility is to read the other infomiats-on and, in doing so, consider whether the other infomiaion is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit. or otheiSe appears to be materially misstated. If we identify such material inconsistencies or apparent material misststements. we are required to determine vthether this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have perfomied. we conclude that there is a material misstatement of this other information. we are required to report that fad. 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 our audii.. the infomi8tion gNen in the trustees. report for the financial year for which the financial ststements are prepared. whith includes the diredoTS' report prepared for the purposes of company law, is consistent with the financial statements; and the directors, report included within the twstees, report has been prepared in accordance wtth applicable al requirements. 12-
LANCASHIRE WOMEN INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF LANCASHIRE WOMEN Matter8 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 directors, report in¢luded within the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 20[ 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 rtain disdosures of trustees, remuneration specified by law are nol made; or we have not received all the information and explanations we require for our audil,. 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 trustees, report and from the requirement to prepare a strategic report. Responsibilities of tru8tses As explained more fully in the statement of trustees. responsibilities, the trustees, who 8re also the dire¢tors of the charity for the purpose of comp8ny law, are responsible for the preparation of the finanal slatements and for being satisfied that they give a true and fair view, and for such intemal control as the trustees detemiine is necessary to enable the pparation of financial stalements Ihat are free from material misstatement, whether due to fraud or error. In preparing the financial stalements, the trustees are responsible for assessing the charity's ability to ontinue as a going concern, disclosing, as applicable, matters related to going concern and using the going conrn basis of 8ccounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Audltor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assuran about whether the financial slat8m8nts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that sn audit conducted in a¢¢ordan with ISAS (UK) will always detect a material misstatement when it exists. Misslatements can arise from fraud or error and are considered material if, individually or in the aggregate, they Gould reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. The engagement partner ensured that the engagement team collectively had the appropriate competence. capabilities and skills to identify or recognise noTrcompliance with applicable laws and regulations; we idenlffied the laws and regulations applicable to the charitable company through discussions wrth trustees and other management, and from our commercial knowledge and experience of the charity sector; we focused on specific laws and regulations whith we considered may have a direct material effect on the financial statements or the operations of the charity, including the Companies Act 2006, taxation legislation and data protection, employment, environmental and héalth and safety legislation,. we assessed the extent of Complian with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. 13-
LANCASHIRE WOMEN INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF LANCASHIRE WOMEN We assessed the susceptibility of the company's financial statements to material misstatement, induding obtaining an understanding of how fraud might occur, by.. making enquiries of management as to where they considered there was su$pIlblIIty to fraud, their knowledge of actual. suspected and alleged frdud; and considering the internal controls in place to mitigats risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of )ntrolS, we: performed analytical procedures to identify any unusual or unexpected relationships.. tested joumal entries to identify unusual transactions; and assessed whether judgements and assumptions made in detemiining the accounting estimates were indicative or potential bias. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, bul were not limited to: agreeing financial statement disclosures to underlying supporting documentation- reading th6 minutes of meetings of those charged with governance., • enquiring of management as to actual and potential liligation and claims; and reviewing Correspondence with relevant regulators and the company's legal advisors. There are inherent limitations in our audit procedures described above. The more removed that laws and regulationsare from financial transactions, the less likely it is that we would become aware of noTr compliance. Auditing slandards also limit the audit procedures required to identify norFMplIan¢è with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and leJal correspondence, rf any. Material misstatements that arise due to fraud can be harder to detect that those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities is available on the Finanual Reporting Council's website at: https:11 WW4v.frc.org.uklauditorsresponsibilities. This description forms part of our auditors report. Use of our report This report Is made solely to the charitable company's members, as a body, in accordan with Chapter 3 of Part 16 of the Companies Act 2CrfJ6. Our audit work has been undertaken so that we might state to the charitaL4e company's members those matters we are required to stste to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law. we do not aCept or assume responsibilty to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Andrew Simm F.C.A. (Senlor Statutory Auditor for and on behalf of Smith & Goulding Limited l£).lY Chartered Accountants Statutory Audltor 2 Southport Road Chorlèy Lancashire PR7 1LB 14-
LANCASHIRE WOMEN STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted funds funds 2024 2024 Totsl Unre8tri¢ted Restrlcted funds fund8 2023 2023 Total 2024 2023 Notes Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments Other income 26,172 26,172 2,269,352 1,356,569 3,625,921 20.311 20,311 11,337 11,337 178 178 26,891 26,891 1,444,536 1.334,909 2,779,445 38,120 38,120 3,158 3,158 1,474 1,474 Totsl income 2,327,350 1,356.569 3.683,919 1,514,179 1,334,909 2,849,088 Expendlture on: Raising funds Charitable activities 46.560 46,560 1,896.946 1,308,344 3,205,290 49.997 1,287,931 49,997 1,379.567 2,667,498 Total expenditure 1,943.506 1,308,344 3,251,850 1,337,928 1,379,567 2.717,495 Net gainsl(losses) on Investments 12 {5.387) (5,387) 7,343 7,343 Net income 378,457 48.225 426,682 183,594 (44,658) 138,936 Transfers between funds 53,516 (53,516) (37,119) 37,119 Net movement In funds 10 431,973 (5,291) 426,682 146,475 (7,539) 138,936 Re¢on¢iliatlon of funds: Fund balances at 1 April 2023 1,021.741 102,457 1,124,198 875,266 109,996 985,262 Fund balance8 at 31 March 2024 1,453,714 97,166 1,550,880 1,021,741 102,457 1.124,198 The statement of financAal activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 15
LANCASHIRE WOMEN BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Nots$ Flxed a880ts Tangible assets Investments 15 16 207.587 23,068 242.848 28,455 230.655 271.303 Current assets Deblors Cash at bank and in hand 17 615,252 1,146,739 367,434 653,835 1,761,991 1,021,269 Credltors: amounts falling due within one year 19 (403.613) (168.374) Net current assets 1,358,378 852,895 Totsl assets less currerrt liabillties 1,589,033 1.124,198 Creditors: amounts falling due after more than one year 20 (38,153) Net assets 1,550,880 1,124.198 Income funds Restricted funds 25 97.166 102.457 Designated funds General unrestricted funds 23 160,071 1,293,643 81.903 939,838 1,453,714 1,021,741 1,550,880 1,124.198 The financial statements were approved by the Trustees on ... Harwood (Chair) Trustse Company Regi$tr4tion No. 04777720 16-
LANCASHIRE WOMEN STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operallng acllvltles Cash generated from operations 28 435,367 60,458 Investing activities Investment income received 11,337 3,158 Net cash generated from investing activities 11,337 3,158 FSnan¢ing a¢tivitie8 Proceeds from new bank loans 46,200 Net cash generated fromllused in financing activities 46,200 Net inGrease in Gash and cash equivalents 492.904 63,616 Cash and cash equivalents at beginning of year 653.835 590.219 Cash and cash equlvalents at end of year 1.146.739 653.835 17-
LANCASHIRE WOMEN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity inforniation Lancashire Women is a private company limited by guarantee ineorporated in England and Wales. The registeied olrice is 21-23 Blackbum Road, Accrington. BB5 1 HF. 1.1 Accounting convention The financial statements have been prePad in accordance with the charity's goveming document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practi applicable to charities preparing their accounts in acLordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) {effective 1 January 2019)" The charity is a Publi Benefit Entity as defined by FRS 102. The financial staternenls are prepared in sterling, whith 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 hlstorical cost ¢onvention, modified to include the revaluation of freehold properties and to indude investment prop8rties and certain financial instrumenls at fair value. The principal accounting policies adopted are set out below. 1.2 Golng concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to wntinue in operational existence for Ihe foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial slalements. 1.3 Charltable funds Unreslricled funds are available for use at the discretion of the trustees in furtherance of their d)aritable objectives. Restricted funds are subject to specific conditions by donors or granlors as to how they may be used. The purposes and uses of the reslriGted funds are set OLrt in the notes to the financial statements. Endowment funds are subject to specific corKlrtions by donors that the capital must be maintained by the charity. 1.4 Incoming resourc85 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 Gharity has been notified of the donation, unless performan cA)nditions require deferral of the amount. Income tax recoverable in relation to donations received undèr GiftAid or deeds of covenant is recognised at the lime of the donation. Legacies are recognised on r8ceipt or otherwise rf the charity has been rtified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as contingent asset. Tumover is measured at the fair value of Ihe consideration received or receivable and represents amounts receivable for goods and serviGe5 provided in the nonnal course of business, net of discounts, VAT other sales related laxes. 18-
LANCASHIRE WOMEN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles (Continued 1.5 Resour¢e$ expended Expenditure 15 recognised once there is a legal or ¢onslwctive obligation to transfer economi¢ benefit lo a third party, It is probable that a transfer of economic beneffils will be reqUId in settlement. and the amount of the obligation can be measured reliably. Expendilure is ¢las$tfied by activty. The costs of each adivty are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable lo a single adivity are allocated directly to Ihat activty. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apporticned befvéeen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's usè. Expenditure is recognised once the is a legal or constructive obligation lo make payment to a third party, it is probable that settlement will b8 required and the amount of the obligation can b8 measured reliably. All expenditure is accounted for on an accruals basis. All expenses including support costs and govemanc8 costs are allocated to the applicable expenditure headings. Ch8ritsble expenditure comprises those costs incurred by the charity in the delivèry of activrties and services for its beneficiaries, Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred dI¢11Y in support of expenditure on the objects of the charity and include project man8gement at the registered office. Govemance cosls are those incurred in connection with the adminislralion of the charity and Complian with constitutional and statutory requirements. Expenditure includes any VAT which cannot be fully recovered, as part of the expenditure to which it relates. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at st or valuation, net of depreciation and any impaimient losses. All assets costing more than £1,000 with an expected life of at least five years ar8 capitalised. A review for impairment of a fixed asset is carried out rf events or changes in circumstances indicate that the carying value of any fixed asset may not be recoverable. Shortfalls btheen the carrying value of fixed assets and their recoverable amounts a recognised as impairments. Impairment losses are recognised in the statement of financial activities incorporaling inwme and expenditure account. Depreciation is recognised so as to bvrite off the Cost or valuation of assets less thèir residual values over their useful lives on the following bases= Freehold land and buildings Leasehold land and buildings Fixtures and fittings Equipment Buildings 20h on cost Buildings 20/0 on cost 100/0 on cost 250/0 on cost The gain or loss arising on the disposal of an asset is determined as th8 difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Flxed 88$et investments Fixed asset investments are initially measured at transaction pri¢e excluding transaction costs, and are subsequently measured at fair valu8 al each reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Trgnsaction costs are expensed as incurred. 19-
LANCASHIRE WOMEN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles (Continued) 1.8 Impainnent of fixed assets At each reporting end date, the charity reviews the carying amounts of its tsngible assets to detemiine whether there is any indication that those assets have sufféred an impaimiènt loss. If any such indiation exists, the recoverable amount of the asset is estimated in order to d8termine the extent of the impairment loss (if any). 1.9 Cash and ¢08h equivalents Cash and cash equivalents indude cash in hand, depostts held at call with banks, other shOterM liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdr8fls are shown within borrowings in current liabilities. 1.10 Financial instrumonts The ¢harity 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 assèts and liabilities are oftset, 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 financlal assets Basic financial assets, which include debtors and cash and bank balans, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangemersl constitutes a financing transadion, 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. Baslc flnanclal Ilabllltles Basic financial liabilities, induding 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 nol amortised. Debt inslruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations lo pay for goods or seNices that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as cuwent liabilities if payment is due within one year or less. If not. they are presented as nonwcurrent liabilities. Trade creditors are recognised initially at transaction price and subsequ8ntly measured at 8mortis8d cost using the effective inlerést method. Derecognition oi financial liabilities Financial liabilities are d8recognised when the charitYs Contractual obligations expire or are discharged or ancelled. 1.11 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's seNices are received. Temiination beneffts are recognised immediately as an expense wh8n the charity is demonstrably committed to terminatè the employment of an employee or to provide termination beneffts. -20-
LANCASHIRE WOMEN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles (Continued) 1.12 Retirement benefits Payments to defined contribution retir6ment benefit schemes are charged as an expense as they fall due. In¢ome from donatlons and legacles Unrestricted Unr•8tricled funds funds 2024 2023 Donations and gifts 26,172 26,891 Income from charitable activities Unrestrlct8d R8Stri¢ted funds funds 2024 2024 Totsl Unre8trlcted Rostricted funds funds 2023 2023 Total 2024 2023 Provision of vlfare services and advlce Courses servIs provided under contract Performance related grants 1,042 1,042 222 1.580,259 1,580,259 1,288,713 1,268,713 688.051 1,356.569 2.044,620 175,601 1,334,909 1,510,510 2,269.352 1,356,569 3,625,921 1,444.536 1,334,909 2.779.445 Income from other trading activities Unrestrlcted Unrestrlcted fund6 funds 2024 2023 Fundraising events Shop income 16,148 4,163 36,124 Other Irading a¢tivilies 20,311 38,120 21
LANCASHIRE WOMEN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from investments Unrestrlcted Unrestricted funds funds 2024 2023 Interest receivable 11,337 3,158 Other income Unrestrlcted Unrestrictsd funds funds 2024 2023 Other income 178 1.474 Raising funds Unrestrlcted Unrestricted funds funds 2024 2023 Fundraisin and blici Staging fundraising events Staff costs 3,154 43,406 1,193 48,804 Fundraising and publicty 46,560 49,997 46,560 49,997 -22-
LANCASHIRE WOMEN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Analysls of charltabl8 expenditure Charitsble Charltablo actlvltles activities 2024 2023 Staff costs Training costs Volunteer expenses Other staff costs IT and communication costs Bt)oks and leaflets Travelling costs Rent. rates, utilities and room hire Repairs and renewals Postage, stationery and offic8 ¢OSt$ Sundry expenses Subcontracted servl¢es Insuran Bank charges Other charitable expenditure 2.132,270 1,SJ)4,809 25,864 10,299 4.004 2,181 72,145 1,936 161.186 108,583 14,139 6,581 42,607 23,877 47,246 77.302 58,487 24,897 11.834 14,118 50,925 17,914 190,828 180,408 14,516 13,426 1,026 799 69,393 51,143 2,896,270 2.438,271 Share of support costs (see note 9) Share of governance costs (see note 9) 149,214 159,806 155.799 73,428 3,205,290 2,667,498 Analysi8 by fund Unrestricted funds Restricted funds 1,896,946 1.287,931 1,308,344 1,379.567 3,205,290 2,667,498 For the year ended 31 March 2023 Unrestricted funds Restricted funds 1,287,931 1,379,567 2,667,498 -23-
LANCASHIRE WOMEN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs allocated to activities 2024 2023 Steff costs Deprèciation Governance costs 149,214 35,261 124,545 155,799 1,042 72,386 309,020 229,227 Analysed between: Provision of welfare services and advi 309,020 229,227 2024 2023 Governance costs comprlso: Accountancy Legal and professional Professional fees Staff recruitment ¢o$ts 5,784 33,000 78,537 7,224 6,872 7,396 55,272 2,846 124,545 72.386 10 Net movement in funds 2024 2023 The net movement in funds is slated after chargingl(crediting): Depreciation of owned langible fixed assets 35.261 1,042 11 Trustees None of the trustee5 lor any persons connected with them) reiVed any remuneration or benefrts from the charity during the year. 12 Galns and1088es on investments Unrestricted Unrestricted funds funds 2024 2023 Gainsl(losses) arising on: Revaluation of investments 15,387) 7,343 -24-
LANCASHIRE WOMEN NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Employees Number of employees The average monthly number of employees during the year was 95 (2023.95) and the average monthly number of persons employed by the charitable Company during the year was as follows (including casual and part time staff): 2024 Number 2023 Number Charitable activities 95 Employment Costs 2024 2023 Wages and salaries Social security costs Other pension costs 2,113,690 172,190 39,010 1.915,011 157,865 36,536 2,324,890 2,109,412 The total remuneration and benefits received by key management personnel including the CEO amounted to £149,214 (2023 - £155,799) within the financial year. There were no employees whose annual remuneration was £60,000 or more. 14 Taxation The charity is exempt from taxalion on lis activities because all its income is 8pplied for charitable purposes. 15 Tangible fixed assets Fhold land and IMtllding$ L•¢hOld Flxtur•$ and land and n9¥ bulldln99 Equlpn*nt Totsl Cost At 1 April 2023 116,000 125,156 57,152 34,740 333.048 At 31 March 2024 116,000 125,156 57,152 34,740 333,048 Depreciation and impalnnent At 1 April 2023 Depreciation charged in the year 55,460 282 34,740 90,200 35,261 13,775 21,204 At 31 March 2024 13.775 21,204 55,742 34,740 125.461 Carrylng amount At 31 March 2024 102,225 103.952 1,410 207,587 At 31 March 2023 116,IXIO 125,156 1,692 242,848 -25-
LANCASHIRE WOMEN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Fixed asset investments Listed investments Cost or valuatlon Al 1 April 2023 Valuation changes 28,455 {5.387) At 31 March 2024 23,068 Carrying amount At 31 March 2024 23,068 At 31 March 2023 28,455 17 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 317,354 282,282 15,616 177,195 174,831 15,408 615,252 367,434 18 Loans and overdrafts 2024 2023 Bank loans 46,200 Payable within one year Payable after one year 8,047 38,153 19 Creditors: amounts falling due within one year 2024 2023 Notes Bank loans Other taxation and social securiiy Deferred income Trade creditors Accruals and deferred income 18 8,047 53,927 240,610 88,289 12,740 40,943 60,115 42,892 24,424 22 403,613 168,374 -26-
LANCASHIRE WOMEN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20 Credltors: amounts falling due after more than ong year 2024 2023 Notes Bank108ns 18 38,153 21 Retirement benefit schemes 2024 2023 Defined contribution schemes Charge to profrt or loss in respect of defined contribution schemes 39,010 The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the stheme are held separately from those of the tharity in an independently administered fund. 22 Deferred in¢ome 2024 2023 Deferred contract income 240,610 60.116 23 Unrestrictsd funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are nol subject to specific conditions by donors and grantors 8$ to how they may be used. These include designated funds which have been set aside oul of unrestricted funds by the trustees for specific purposes. At 1 April 2023 Incoming resources Resources expended Transfers Galns and At 31 March losses 2024 Designated fund General funds 81,903 939,838 78,168 (24.652) 160.071 1,293,643 2.327,350 {1,943,506) (5,38n 1,021,741 2,327.350 <1,943,506) 53,516 (5,387) 1,453.714 Previous year: At 1 Aprfl 2022 Incoming resources R•$ources expended Transfern Gains and At 31 March losses 2023 Designated fund General funds 155,549 719,717 {73,646) 36,527 81,903 939.838 1,514.179 (1,337,928) 7,343 875,266 1.514,179 {1,337.928) {37.119) 7,343 1,021.741 The trustees have designated £81,903 to ensure that funds are available for the settlement of redundancy costs and outstanding lease obligations in the event of the winding up of the charitsble company. -27-
LANCASHIRE WOMEN NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 24 Analysis of net assets between funds Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 31 March 2024: Tangible assets Investments Current assetsl(liabilitiesl Long term liabilities 207,587 23,068 1,261,212 (38,1531 207,587 23,068 1,358.378 (38.153) 97.166 1.453,714 97,166 1.550,880 Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 31 March 2023: Tangible assets Investments Current asselsl(liabilities) 242,848 28,455 750,438 242.848 28,455 852,895 102,457 1.021,741 102,457 1.124,198 -28-
LANCASHIRE WOMEN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 25 Restrlcted fund$ The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subjecl to specific CndItIOnS by donots a5 to how they may be used. Incoming reSoUe9 Resources expendod Transfers At 31 March 2024 2023 SmalKvood Trust Big Lottery - Positive Outcomes for Women Starting Well Household Support BB03 Changing Futures POW2 British Gas British Gas Energy Measures HSF 3 Fund LCC DrugslAlcohol Lot 3 Raising Aspirations FAM (Fishwick & St Matthews) HSF Blackpool COL Grant National Lott8ry COL BB01 Age of Opportunity BWD Complex Case Hub Blackbum Therapeutic SeNIC8S Preston Counselling Energy Redress 2 ESF MPT HSF4 Hyndburn ICB 1 Move Forward Scottish Power Innovation ReGalls 18.825 56.083 {49,9091 24.999 (3,096) 287 (1,974) {6,192} 1,078 16,963 (1,692) 720 6,529 1.974 18.164 (2,199) (6.8161 {11.855) 80,832 134,040 (117) (81.045) {137.461) (1,334) 15,586 1.692 5,658 40,837 789 3,724 1,324 (6,378) (252,5881 {169,101) (17,496) (14,952) (47,961) {50) {33,181) {10,025} (73,9391 (248,047) 177,394) {25,090) (7,454) {29,870} (913) (18,5571 250,750 187.515 14,500 12,917 48,000 1,321 37,500 12,175 75,OiXI 285,454 73.517 37.500 11,564 31,199 38.999 2,133 (17,070) (728) 11,324) (39) (1.271) (4,319) (2,035) 2,150 1,061 (37,407) 3,877 12,410 4,110 (1,329> {913) 18.557 102,457 1,356,569 (1.308.344) {53.516) 97.166 -29-
LANCASHIRE WOMEN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 25 Restrlcted funds (Contlnued) Previous year: At 1 April 2022 Incomlng Resources re80urce8 expendod Transfern At 31 Mar¢h 2023 Lottery Digital Fund BBO Age of Opportunity Smallwood Trust Big Lottery - Positive Outcomes for Women Starting Well HouselK)Id Support BB03 Changing FLrtures ESF MPT POW2 BWD Complex Case Hub British Gas British Gas Energy Measures Energy Redress 2 Energy Trust (Money Redress) HSF 3 Fund LCC Dmgs IAlcohol Lot 3 Raising Aspirations FAM (fishwick & St Matthews) HSF Bla¢kpool COL Grant 39,374 3,422 16.792 36,752 21,838 31,042 (76,126) (47,010) {29,901) 21,750 892 18,825 22,238 23,170 s,0 30,021 218,797 (49,163) (235,438) (3,026) (100,141) (98,485) (49,350) (30,000) (42,958) (28,578) {168,465) (29,948) (2,342) {164,438> (175,6271 (41,89n (6,676) 6,529 1,974 18.164 118,305 84,008 47,151 30,000 45,000 30,270 168,465 29,948 8,000 205.275 176,416 45,621 8,000 14,477 (2,199} 1.692 5,658 40,837 789 3,724 1,324 109,996 1.334,909 (1,379,56T) 37,119 102,457 Smal00d Trust - To provide grants to individual women as part of Smallwood Trust's Community Grant Partner Programme. LCC- Trauma infomied addiction & recovery support to women across Lancashire British Gas - Energy advice provided over the telephone, one to one or through a home visit, ineluyes the home repair service Household Support Fund 4- Providing financial heaElh ched(s to support vulnerable people suffering from financial hardship 26 Related party transacllons There were no disclosable related party transactions during the year (2023- none). 30-
LANCASHIRE WOMEN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 27 Analysts of changes in net funds At 1 Aprfl 2023 Cash IlowsAt 31 March 2024 Cash at bank and in hand 653,835 492,904 1,146,739 Loans falling due within one year Loans falling due after more than one year 18,047) (38,153) {8.047) (38,153) 653,835 446,704 1,100,539 28 Ca8h generated from operations 2024 2023 Surplus for the year 426,682 138,936 Adjustments for.. Investment income recognised in ststement of financial activities Fair value gains and losses on investments Depreciation and impaimienl of tangible fixed assets (11,337) 5,387 35,261 (3,158) (7.343) 1,042 Movements in working capit81'. (Increase) in debtors Increase in creditors Increasel(decrease) in deferred income (247.818) 46,697 180,495 (60,565} 7,968 {16,422) Cash generated from operation8 435,367 60.458 31