COMPANY REGISTRATION NUMBER: 4715832
HARITY REGISTRATION NUIIIBER: 1110834
Women Connect First
Company Limited by Guarantee
Financial Statements
31 March 2024
GORDON DOWN & COMPANY LIMITED
Accountsnts and Business Advisors
Temple Court
13a Cathedral Road
Cardiff
CF119HA

Women Connect First
Company Limited by Guarantee
Flnanclal Statements
Year ended 31 March 2024
Page
Trustees, annual report (incorporating the director's report)
Independent examinerfs report to the trustees
Statement of financial activities (including income and
expenditure account)
11
Statement of financial position
12
Statement of cash flows
14
Notes to th8 financial statements
15
The following pages do not form part of the flnanclal statements
Detailed statement of financial activities
28
Notes to the detailed statement of financial activities
30

Women Connect First
Company Limited by Guarantee
Trustees. Annual Report (Incorporatlng the Dlrector's Report)
Year ended 31 March 2024
The trustees, who are also the directors for the purposes of company law. present their report and the
unaudited financial statements of the charity for the year ended 31 March 2024.
Reference and admlnistrative details
Reglstsred charlty name
Women Connect Flrst
Charlty reglstratlon numbor
1110834
Company reglstratlon number 4715832
Principal office and rogistered 7 N8vill8 Street
offlce
Riverside
Cardiff
CF116LP
Wales
Tho trustees
(SeNed from 4 July 2023 to 28
February 2024)
(Served from 4 July 2023 to 5
February 2024)
(Reslgned 9 June 2023)
Rajrna Begum
Margaret Mclaughlin
Justna Muhith
Gw6ndolin Ngum
Daxa Varsani
Aisha Ali
Shavanah Taj
Lyan Hassan
Saroop Kaur
Sumaya Khan
Stephanie Makuvise
Dr Sofia Anthi Vougioukalou
(Resigned 18 July 2023)
(Resigned 18 July 2023)
(Resigned 3 June 2023)
(Appointed 21 February 2024)
(Appointed 21 February 2024)
(Appointed 21 February 2024)
(Appointed 18 October 2023)
(Appointed 21 February 2024)
Independent examiner
Philip M Harris FCA
Temple Court
13a Cathedral Road
Cardiff
CF119HA
structure. governance and management
Governing document
The organisation is a charitable company limited by guarantee. incorporated on 28 March 2003 and
registered as a Charity on 11 August 2005. The company was established under a Memorandum of
Association which estsblished the objectives and powers of the charttable company and is governed
under its Articles of Association.

Women Connect First
Company Limited by Guarantee
Trustees. Annual Report (Incorporatlng the Dlrectorfs Report) (cofttinuedj
Year ended 31 March 2024
structure, governance and managemant (¢ontlnu•
Recruitment and appointment of trustees
The directors of the company are also charity trustees for the purpose of charity law and under the
company's Articles are known as members of the Management Board. Under th8 r@quirements of the
Memorandum and Articles of Association. the members of the Management Board are elected to serve
for a period of 3 years after which they must be re-elected at the next Annual General Meeting.
All members of th8 Management Board give their tim8 voluntarily and recelved no benefits from the
charity.
Trustee Inducllon and trainlng
Most trustees are already familiar with the practical work of the charlty. They are also regularly invited
to tske part in t8am-building and stsff development days and other Women Connect First events.
Addltionally, new trustees are Invited and encouraged to attend a series of short training sessions to
familiarise themselves with the charity and the context within which it operates, These are jointly led
by the Chair of the Management Board and the Chief Executive Officer of the charity and include..
The obligations of Management Board members
The main documents which set out the operational framework for the charity including the
Memorandum and Articles
Resourcing and the current financial position as set out in the latest published accounts
Future plans and objectlV8S.
Oryanisatlonal structure
The Charity Is govern8d by its Trustees, who meat ragularly to rewew reports presented to them by the
administrative team which is entrusted wlth the implementation of the Trustees, declslons. A scheme of
delegation Is In place and day to day responslbllity for the provision of the services rest with the Chief
Executive Officer, who has the responsibility for the day to day operational management of staff.
individual supervision of the staff team and also ensurfng that the team continue to develop thelr skilEs
and working practices in line wlth good practice.
Key management remuneratlon
The board of Trustees together with key staff members are considered to be the key management
personnel of the Charity. Details of payments tolfrom Trustees are disclosed in note 14 to the accounts.
Payments to key management personnel are given in note 13. The level of payment made to all key
management personnel is reviewed annually by the Trustees.

Women Connect First
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (contlnuod)
Year ended 31 March 2024
structure. governanc• and managem•nt (continued)
Risk managemant
The Management Board has conducted a review of th8 major risks to which the charity is exposed. A
risk register has been established and is updated at least annually. Where appropriate, systems or
prorRdures have been established to mitigate the risks the charity faces. Signrficant extemal risks to
funding have led to the development of a strategic plan which will allow for the diversification of funding
and activities. Intemal control risks are minimised by the implementation of procedures for authorisation
of all transactions and projects. Procedures are In place to ensure compllance wlth health and safety of
staff, volunteers, clients and visitors to the centre. These procedures are periodically reviewed to ensure
that they continue to meet the needs of the charity.
The trustees have conducted thelr own review of the major risks to which th8 charity is exposed, where
at unacceptable levels, have taken steps to mitigat8 those risks. The procedures are periodically
reviewed to ensure that they still meet the needs of the charity. The principle risks facing the charity and
a summary of the key mitigation actions, are noted below.
Risk: Partnerships breaking up
Miligating actions:
Seeking to work with organisations and individuals with shared values
Establishing clear partnership agreements from the outset
Effectively servicing partnerships with regular meetings and communication. regularly reviewing and
evaluating progress.
Rlsk: Staff malpractlcel a safeguardlng fallure
Mltlgatlng actlons:
Implementing recruitment policies and controls for staffl volunteers with appropriate DBS checks
Regular provision of safeguarding training for all staff and volunteers
Effective supervision procedures
Effectlve rlsk assessment systems In place
Rlsk: A major property In¢ldent
Mltlgatlng actlons:
Implementation of ongoing prop8rty ch8cks
Ensuring sufficient insurance coverage in place
Rlsk: Loss of key personnel
Mitigatlng actions:
Regular appraisals & team meetings
Team development activities
Quality continuing professional development opportunlties

Women Connect First
Company Llmited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (¢onllnuod}
Year ended 31 March 2024
Structure. governance and management (contlnued)
Risk: Reduction In cllenls I seNice users
Mitigating actlons:
Development of activtties and communty projects to attract new members
Rlsk: Loss of funding for projects
Mltigating actions:
Diversify funding streams
Generate own income
Boost public donations
Objective5 and actlvltles
Purposes and alms
Women Connect First Is a charitable company limlted by guarantee, r8gist8r8d with the Charlty
Commission and Companies Hous8, Wlth the following charitable objectives:
1. To advance the education of the public primarlly. but not exclusively, of women members of elhni¢
minority communities
2. To relieve poverty and distress arising from financial hardship andlor physi￿[ andlor mental suffering
3. The promotion of equality and diverslty for the public benefrt, in particular, but not exclusively, in
Wales by:
(i) Developing the capacity and the skills primarily but not exclusively, of women members of ethnic
minority communities in such a way that they are better able to identify and help meet their needs and
partlclpate more fully in society
(li) Raising awaren8ss of their social and religious needs.

Women Connect First
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (conllnu8d)
Year ended 31 March 2024
Achlevernents and perfonnance
The trustees have the pleasure in presenling their report and the financial statements for the company
for the year ended 31 st March 2024. Our track record spans 23 years of successful service delivery by
and for diverse minority ethnic women.
Women Connect First had another successful year with many hlghlights and a number of challenges
as we navigated through the growing cost of living crisis on local communities here in Wales. Thanks to
th8 r8sili8nc8, dedication and innovation of our stsff, volunteers, and trustees, we were able to adapt
and deliver culturally appropriate, bespoke and tailored services to address the needs of the diverse
minority ethnic communities in South Wales and steadily grow from strength to strength to expand our
service provision.
This financial year has been a very busy and challenglng one for third sector organisatlons due to the
impact of the cost of living crisis and inflation which have caused a very highly competitive funding
@nvironment, whilst the demand on services multiplied. Women Connect First have weathered this
funding crisis within the sector with our financial and strategic planning which has been executed to
secure grants from major funding bodigs and resulted in an expansion of our services In year. This
Included Housing Advice. Winterwarm Hubs. Energy Advice. Carbon Monoxid8 awareness. as well as
Climate Change focused work. New work took plac8 alongside our other regular frontline services of
advice & advocacy, Child￿n and young people services, health and well-being services and services
for older women.
On behalf of the Trustees, Stsff, Volunteers, beneficiaries and the communities we serve, we would like
to thank our funders for providing us with the support and resources that make it possible for the charity
to provide essential services as well as adapting and responding to new areas of need and serve some
of the most disadvantaged and vulner8ble women from diverse ethni¢iti&s and their families in South
Wales.
Funders
We delivered around 14 large. medium and small proj8cts supported by a divers8 range of funders.
During this financial year, our funders included Welsh Govemment, The National Lottery Community
Fund for Wales, Lloyds Bank Foundation for England & Wales. BBC Chlldren in Need, Paul Hamlyn
Foundation, Tudor Trust, Cardiff Council, Zurich Community Trust, National Grid, Postcode Community
Trust, Wa18s and W8St Utilities and Glamorgan Voluntary Services.

Women Connect First
Company Limited by Guarantee
Trustees. Annual Report {Incorporating the Directorfs Report) (continued)
Year ended 31 March 2024
Achlevements and perfomiance (contlnued)
ACTIVITIES & ACHIEVEMENTS
This year we witnessed a significant increase in the number of women we supported. Throughout our
work, the voice of our beneficiaries and volunteers are an ever-increasing part in planning, developing
and delivering our services. In spite of the current cost of living and funding crisis we have been able to
mainlain highly effective and efficient support programmes at a time of increasing pressure on public
funding. Highlights include:
Volunteers continued to mako an enormous contribution with women helping in a range of services
including the office administration. outreach, at events. our community cafe and health and wellbeing
sessions.
Advice & Advocacy servlce were offered for Housing and Homelessness issues, Energy Advice,
Finance and Welfare Benefits. This year we have particularly seen the expansion and greater influx in
the number of women & families accessing this service due to the Cost of living crlsls and we have
supported around 400 women and provided over 700 advice sessions.
Chlldren & Young People servlces were provided by our Afterschool clubs for children and young
girls and were delivered from our centre in Riverside, which continues to attract children living within the
Close vicinily of Canton, Riverside, Grangetown and Butetown. The sessions included a mix of indoor
and outdoor sessions which provided a safe space for children and young girls to learn new skills,
explore, thrive and improve their self<onfidence and future aspirations.
Creche services: provided childcare for mothers accessing our project services within our premise5 in
our Little Rainbows Creche.
Our Health and we114)elng projects expanded ourservice provislon to a high numberof women. young
girls and children from diverse communities participating in a number of activities provided by the
'Sports4AII' project funded by Welsh Government's Anti-racist Wales Action Plan In different areas of
Cardiff such as Riverside, Canton, Cathays, Penylan, Butetown. Grangetown and other local community
and leisure centres. The project engaged 227 women, young girls and children into different sport,
physical activity, well-being and holiday tsster sessions.
Our Older People Servlces contlnued through the Golden Years 'Lets Age Well, project, bespoke and
tailored services to over 277 older women and their families from diverse communities providing different
courses to build confidence. skills, language. communication and digital literacy. including ESOL, IT &
computers, conversational English, smart phones and tablets, book clubs, physical and well-being
activities such as chair yoga, strength and balance, Pilates, Tai Chi, Seminars and Information sessions
on a wide range of topics covering health, welfar8, energy, cost of living support, rights and entitlements,
housing, socialising activities Included the Friday café, trips. picnics, muslc and art for well-being in
dlfferent areas of Cardiff, Ilbrary vlslts, cultural celebrations, befrEending and volunteering support. The
voices of the older women were also captured via different consultations, surveys, consultations with
various policy makers, and participation in different surveys on issues that affect older minority ethnic
communities.
Climate Chango focused work continued In a more formal capacity with our n8w 'Div8rse Voic8s on
Climate Change, project funded by The National Lottery Community Fund for Wales Sustslnable Steps
programme. The projectaims lo engage, educate, enable and sustain behavioural change within diverse
communities towards protecting their local environment and combating climate change. During its first
year the project engaged 189 women and children to date.

Women Connect First
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (contlnuod)
Year ended 31 March 2024
Achlevements and performance f¢ontlnuad)
Our World Café continued lo offer weekly meals at Neville Street to our beneficiaries and the public
and to host consultations and visitors from diverse third and public sectors. The café provides
volunteering and training opportunities to women.
We are a registered free period products and food bank voucher provider, and we are ensuring that
period products. food bank vouchers and other such support services are available to vulnerable women
and families. Durlng the year. the service was accessed by 123 people and we distributed over 500
period packs.
Our influencing work facilitated a high number of consultatlons and hosted a number of key policy
influencers wilhin our Friday café to ensure the voices of grassroots women, older women and young
people from diverse communitl8S Were heard. The interfm CEO and Senior Management attended a
number of stratsgic forums and ministerial meetings to represent the volces and needs of diverse
communities.
Partnerships
We would not be able to undertake our work wrthout the support and collaboration of our many partners
in the third, statutory and private sectors. During the year, they have included land this is not an
exhaustive list) Cardrff and Va18 Unrversity H8alth Board, Cardiff Council, Pedal Power, BAWSO, CAB.
Asylum Justice, Malndy. Channel View and Penylan Leisure Centres, community centres such as South
Riverside Community Development Centre, Grangetown Pavilion, Butetown Community Centre.
Chapter Arts Centre, St. Ma￿S Church Hall in Pontcanna, to name a few.
Trustees and Govemance
Mrs Maria Costanza Mesa retired from the position of CEO in April 2023. We wish her happy and quality
time wtth family and thank her for all her dedication and hard work ov8r the last 8 years she served the
charity.
Menaka Kodur is undertaking the role of Interim CEO for the charity. She has worked for the charity for
over two decades and has extensive experience in charity management, fundraising and operations
and has played a key role in driving Women Connect First from strength to strength since its inception
in 2001. She is a passionate advocate for women's empowerment. equality, diversity and inclusion.
During the financial year Ihere were five new trustees appointed and six retirements from the board. We
thank our formertrustees for their vital conlributions and hard work during their time with us.
FUTURE PLANS
Women Connect First continues to grow and deliver a wide range of servlces under the strateglc
leadershlp of our trustees and management team. We have an incredibly talented and committed
diverse team of staff and volunteers driving the charity and we are moving towards a new phase and
looking forward to another successful year. We will continue to place the needs of diverse communities
at the heart of the organisation and work with our beneficiaries, partners, and funders to tailor our
services accordingly. A huge Thank You, to our funders, supporters, service users, staff, volunteers and
trustees.

Women Connect First
Company Limited by Guarantee
Trustees. Annual Report (Incorporatlng the DirectO￿S Report) (¢onllnued)
Year ended 31 March 2024
Flnan¢lal revlew
The charity's total income for the year amounted to £479,356 (2023: £611,059). The restricted incoming
resources for th8 year of £409,371 consists of grant incorne received. Any unspent rev8nu8 incom8 is
carried fO￿ard to next year, as of 31st March 2024 restricted reserves were £110.741. The total
unrestrtcted funds at the year-end represent the charltys free reserves and amounted to £291.604.
Reserves policy
In the trustees, view, the reserves should provide the charity with adequate financial stability and the
means for tt to meet its charitsbl8 objectives for the foreseeable future. The trustees propose to
maintain the charitvs reserves level which is at least equivalent to six months operational expenditure
and will do so having regards to its manner of operation of likelyfunding systems.
The trustees will review the amount of res8rves that are required to ensure that they are adequate to
fulfil the charity's continuing obligations on a quarterly basis at their regular monthly meetings.
Golng concern
Having considered budgets for the next twelve months. the Trustees are confident that the Charty will
continue to meet its liabilities as they fall due for the foreseeable future and consider that ther8 are no
material uncertainties about its ability to continue as a golng concem. It is ther8fore considered
appropriate by the Trustees to prepare the financial statements on a going concern basis.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the
small companies exemption.
The trustees, annual report was approved on
trustees by:
i i lol%nd signed on behalf of the board of
Gwendolln Ngum
Trustee

Women Connect First
Company Limited by Guarantee
Independent Examlner's Report to the Trustees of Women Connect Flrst
Year ended 31 March 2024
I report to the trustees on my examination of the financlal statements of Women Connect First (Yhe
charity,) for the year ended 31 March 2024.
Responslbllltl8s and basls of report
Respective responsibilities of trustees and examlner
The Charity's trustees (who are also directors of Women Connect First for the purpose of company law)
are responsible for the preparation of the accounts. The charit￿S trustees consider that an audit is not
required for thls year under saction 144 of the Charltles Act 2011 and that an independent examination
is needed. Havlng satisfied myself that the charity is not subject to audit under company law and is
eligible for independent examination, it is my responsibllity to:
examine the accounts under section 145 of the 2011 Act;
to follow the procedures laid down in the General Directions given by the Charity Commission under
section 145(5) of the 2011 Act. and
to state wheth8r particular matters have come to my attention.
Basls of Independent examiners report
My examination was carried out in a¢¢ordance with the General Directions given by the Charty
Commission. An examination includes a review of the accounting records kept by the charity and a
comparison of the accounts presented with those r￿OrdS. It also includes consideration of any unusual
items or disclosures in the accounts, and seeking explanations from you as trustees concerning any
such matters. The procedures undertaken do not provide all the evidence that would be required in an
audit, and consequently I do not express an audit opinion on whether the accounts present a 'true and
fair view,.
Independent examlner's statement
Since the chariws gross income exceeded £250,000 your examiner must be a member of a body listed
in section 145 of the 2011 Acl. I confirm that l am qualified to undertake the examination because l am
a member of th8 Institute of Chartered Accountsnts in England and Wales (ICAEW), which is one of the
listed bodies.

Women Connect First
Company Llmited by Guarantee
Independent Examinorfs Report to the Trustees of Women Connect Flrst
(eonllnu8d)
Year ended 31 March 2024
In connection with my examination, no matter has come to my attention:
{1) which gives me reasonable cause to believe that in any material respect the trustees have not met
the requirements to ensure thal..
proper accounting records are kept (in accordan￿ with section 386 of the Companies Ad 2006).
and
accounts are prepared which agree wth the accounting records, and comply wlth the accounting
requirements of the Companies Act 2006 and with the methods and principles of the Statement of
Recommended Practice: Accounting and Reporting by Charities
or
(2) to which, in my opinion, attention should be drawn in order lo enable a proper understanding of the
accounts to be reached.
éAc
Philip M Harris FCA
Independent Examiner
Temple Court
13a Caihedral Road
Cardiff
CF119HA
10

Women Connect First
Company Limited by Guarantee
Statement of Flnanclal Actlvltles
(including income and expenditure account)
Year ended 31 March 2024
2024
Restricted Endowment
funds
funds Total funds Total funds
2023
Unrestricted
funds
Note
Income and endowments
Donations and legacies
Charitable actNlties
Other trading activities
Investment income
1,604
13.946
54.209
226
409,371
410,975
13,946
54,209
226
507,528
18.106
85.361
66
Total Income
69.985
409.371
479.356
611.059
Expendfture
Expenditure on
charitable activities
10,11
94.220
401.495
495.714
640,018
Total expendlture
94.220
401.495
495.714
640.018
Net expendlture and net
movement in funds
(24,235)
7,876
(16,358)
(28,959)
Reconclliatlon of funds
Total funds brought forward
Total fund5 Carried forward
316.471
102,865
200,000
619.336
648,294
292,236
110.741
200,000
602,977
619,336
The ststement of financial activities includes all gains and bsses recognised in the year.
AJI income and expenditure derive from continuing activities.
The notes on pages 15 to 26 forni part of these flnancial statements.

Women Connect First
Company Limited by Guarantee
Statement of Flnanclal Position
31 March 2024
2024
2023
Nots
Fixed assets
Tangible fixed assets
15
296.257
296,678
Current assets
Debtors
Cash at bank and in hand
16
32.045
309,658
96,747
275,063
341,703
371,810
Credltors: amounts falling due within one year
Net current assets
17
34,983
49,153
306,720
322,657
Total assets less current liabilities
602.977
619,335
Net assets
602.977
619,335
Funds of the charity
Endowment funds
Restricted funds
Unrestricted funds
200,000
110.741
292,236
200.000
102,863
316.472
Total Charity funds
19
602,977
619.335
For the year ending 31 March 2024 the charity was entitlad to 8X8mption from audit under section 477
of the Companles Act 2006 relating to small companies.
Directors, responsibilities:
The members have not required the company to obtsin an audit of its financial statements for th8
year in questlon in accordance with section 476.
The directors acknowledge their responsibilities for complying wth the requirements of the Act with
respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance wlth the provlsions applicable to
companies subject to the small companies, regime.
The statement of financial position
continues on the following page.
The notes on pagos 15 to 26 fonn part of these financial statements.
12

Women Connect First
Company Limited by Guarantee
Statement of Financial Position (contlnuedj
31 March 2024
These financial statements were approved by the board of trustees and authorfsed for issue on
. J.L l..J.4 2{j4￿nd are signed on behalf of the board by:
Gwendolin Ngum
Trustee
The notss on pagos 15 to 26 form part of the$0 flnan¢lal statoments.
13

Women Connect First
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2024
2024
2023
Cash flows from operating activities
Net expenditure
(16,358)
(28,959)
Adjustments for
Depreciation of tangible fixed assets
Other interest receivable and similar income
Accrued expensesl(income)
421
(226)
50,424
631
(66)
(96,034)
Changes in."
Trade and other debtors
Trade and other creditors
9,030
{8,922)
34,369
27,076
25,897
Cash gen8rated from operations
(71,455)
Interest received
226
66
Net cash froml(used in) operating actlvities
34,595
(71,389)
Net increasel(de¢rease) In cash and cash equivalents
Cash and cash equlvalents at beginning of year
Cash and cash equlvalents at end of year
34,595
275,063
(71,389)
346,452
309,658
275,063
Thè notes on pagos 15 to 26 form part of these flnanclal statements.
14

Women Connect First
Company Limlted by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
General informatlon
The charity is a publlc benefit entity and a private company limited by guarantee, registered in
England and Wales and a regist8red charity in England and Wales. The address of the registered
office Is 7 Neville Street. Riverside. Cardtff. CF116LP, Wa18S.
Statement of Compllance
These financial statements have been prepared in compliance with FRS 102. 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,. the Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {Charities
SORP (FRS 102)) and the Companies Act 2006.
Accounting poli¢les
Basls of preparatlon
The financial statements have been prepared on the historical cost basis. as modified by th8
revaluation of certain financial assets and liabilities and investment propertles measured at fair
value through income or expenditure.
The financial statements are prepared in sterling. which is the functional currency of the entity.
Golng concern
There are no material uncertalntles about the charitys ability to continue.
Judgements and key sources of estlmation uncertainty
The preparation of the financial statements requires management to make judgements, estimates
and assumptions that affect the amounts reported. These estimates and judgements are
continually reviewed and are based on experi8nc8 and other factors, including 8XP8Ctations of
future events that are believed to be reasonable under the circumstances.
Fund accountlng
Unreslrided funds are available for use at the discretion of the trustees to further any of the
charity's purposes.
Deslgnated funds are unrestricted funds earmarked by the trustees for particular future project or
commitment.
Restricted funds are subjected to restrictions on their 8xpenditur8 declared by the donor or through
the terms of an appeal, and fall Into one of two sub-classes.. restrictad income funds or endowment
funds.
15

Women Connect First
Company Limited by Guarantee
Notes to the Financlal Statements (continuedj
Year ended 31 March 2024
Accountlng poll¢les (¢ontlnu¢dJ
Incoming rnsources
All incoming resources are included in the statement of financial activities when entitlement has
passed to the charity,. it is probable that the economic benefits associated with the transaction will
flow to the charity and the amount can be reliably measured. The following specific policies are
applied to particular categories of income:
income from donatlons or grants Is recognised when ther8 is evidence of entFtlement to the
gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entttlement is estsblished.
income from donated goods is measured at the fair value of th8 goods unless this is
impractical to measure reliably, In which case the value is derived from the cost to the donor
or the estimated resale value. Donated facilities and services are recognised In the accounts
when received if the value can be reliab￿ measured. No amounts are included for the
contribution of general volunteers.
income from contracts for the supply of services is recognised with the delffivery of the
contracted service. This is classified as unrestricted funds unless there is a contractual
requlrement for it to be spent on a particular purpose and returned if unspent, in which case
it may be regarded as restricted.
Resources expendod
Expenditure is recognised on an accruals basis as a liability is incurrsd. Expenditure includes any
VAT which cannot be fully recovered, and is classified under headings of the statement of financial
activitie5 to which it relates:
expenditure on raising funds includes the costs of all fundraising activities, events, non-
charitabla trading activities, and the sale of donated goods.
expendilure on charitable activities includes all costs incurred by a charity in undertaking
activitles that further its charitable aims for the benefil of ils beneficiaries, including those
support costs and costs relating to the govemance of the charity apportioned to charitsble
activities.
other expenditure includes all expendlture that Is neither related to raising funds for the charlty
nor part of tts expenditure on charitable activities.
All costs are allocated to expenditure categories refl@cting th8 use of the resource. Direct costs
attrlbutable to a single activity are allocated directly to that activty. Shared costs are apportioned
between the activities they contribute to on a reasonable, justlflable and consistent basis.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The
aggregate benefit of lease incentives is recognised as a reduction to expense over the lease temi,
on a straight-line basis.
16

Women Connect First
Company Llmited by Guarantee
Notes to the Financial Statements (¢ondnue
Year ended 31 March 2024
Accounting policles (contlnued)
Tangiblo assets
Tangible assets are inltially recorded at cost, and subsequently stated at cost less any a¢¢umulated
depreciation and impairment losses. Any tangible assets Ca￿led at revalued amounts are recorded
at the fair value at the dale of revaluation less any subsequent accumulated depreciation and
subsequent accumulated impairment108ses.
An increase In the carying amount of an asset as a result of a revaluation, is recognised in other
recognised gains and losses, unless it reverses a charge for impairment that has previously been
recognised as expenditure wilhin the statement of financial activities. A decrease in the carrying
amount of an asset as a result of revaluation, is recognised in other recognised gains and losses,
except to which it offsets any previous revaluation gain, in which case the loss Is shown within
other recognised galns 8nd losses on tho statement of financial actlvities,
Depreciation
Depreciation is calculated so as to write off the cost or Valua￿on of an asset. less Its residual value,
over the useful economic life of that asset as follows..
Fixtures and fittings
33 % reducing balance
Impaimient of fixed assets
A review for indicators of impaiment Is carrled out at each reporting date. with the recoverable
amount being estimated where such indicators exist. Where the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impaiments are also reviewed for
possible reversal at each reporting date.
For the purposes of impaimient testing. when tt is not possible to estimate the recov8rable amount
of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit
to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets
that Includes the asset and generates cash inflows that largely independent of the cash inflows
from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a buslness comblnation is. from the
acquisition date, allocated to each of the cash-generating units that are expected to benefit from
the synergie5 of the combination, irrespective of whether other assets or liabilities of the charity
are assigned to those units.
17

Women Connect First
Company Llmited by Guarantee
Notes to the Financial Statements (¢onllnuodJ
Year ended 31 March 2024
Accountlng pollcles (contlnu8d)
Financial instruments
A financlal asset or a financial liabilFty is recognised only when the entlty becomes a party to the
contractual provisions of the instrument.
Basic financial instruments are Initially recognised at the amount rec9ivable or payable including
any related transaction costs. unless the arrangement constitutes a financing transaction. where it
Is recognised at the present value of the future paym8nts discounted at a market rate of interest
for a similar debt instrument.
Current assets and current liabilities are subsequentty measured at the cash or other conslderatlon
expected to be paid or received and not discounted. Debt instruments are subsequently measured
at amortised cost.
Defined contribution plans
Contrlbutlons to deflned contribution plans are recognis8d as an expense In the period in which
the related service is provided. Prepaid contributions are recognised as an asset to the extent that
the prepayment wlll lead to a reduction in future payments or a ￿$h refund.
When conlrlbutlons are not expected to be settled wholly within 12 months of the end of the
reportlng date In whlch the employees render the related service. the liabillty Is measured on a
dlscounted present value basis. The unwinding of the discount is recognlsed as an expense in the
period to which Ft relates.
Llmlted by guarantee
Th8 company is limited by guarantee 8nd does not have a share capital. The liability of the
members in the event of the Gompany being liquidated is limit8d to £1.
Donations and legacles
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Donations
Donations
1,604
1,604
18

Women Connect First
Company Limited by Guarantee
Notes to the Financlal Statements (¢ontinued)
Year ended 31 March 2024
Donatlons and legacles (¢ontlnu•dJ
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Grants
Cardlff Councll
Chlldren In Need
Glamorgan Voluntary Services
Lloyds Bank Foundation
National Grid - Community Matters Fund
Postcode Community Trust
Rosa - Voices from the Frontline
The National Heritage Memorial Fund
The National Lottery Community Fund - Sustainable
Steps Wales
Tudor Trust
Wales & West Utilities
Welsh Govemment Anti-Racist Wales Cultur8,
Heritage and Sport
Welsh Govemment Sustainable Social Services
Third Sedor
Zurlch Communlty Trust
4,000
9.463
8.300
25,000
10,000
25.000
(7,000)
6.787
4,000
9,463
8,300
25,000
10,000
25,000
(7,000)
6,787
60.491
40,000
31,695
60,491
40,000
31,695
90,000
90,000
86,385
19,250
86,385
19,250
1,604
409,371
410,975
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Donations
Donations
3,423
3,423
19

Women Connect First
Company Llmlted by Guarantee
Notes to the Financial Statements (¢ondnued)
Year ended 31 March 2024
Donations and legacles (conllnuod)
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Grants
Cardiff Councll - Perlod Poverty
Cardiff Council- Summer of Fun
Cardiff Third Sector Council
Children in Need
Lloyds Bank Foundation
National Grid - Community Matters Fund
Older People's Commissioner for Wales
Paul Hamlyn Foundation
Rosa - Voices from the Frontline
The National Heritsge Memorial Fund
The Natlonal Lottery Community Fund - Awards For
2,000
5,000
3,000
500
27,250
10,000
3.000
47.000
7,000
23.213
2,000
5,000
3,000
500
27,250
10,000
3,000
47,000
7,000
23,213
10.000
40.000
10,000
40,000
Tudor Trust
Wales & West utllities Carbon Monoxide
Vulnerablllty
WCVA Voluntary Services Recovery Fund
Welsh Government Child Poverty
Welsh Government Equality & Inclusion Programme
Welsh Govemment Healthy and Active Fund
Welsh Government Anti-Racist Wales Culture,
Heritage and Sport
Welsh Govemment Sustainable Social Services
Third Sector
Zurich Community Trust
SoLrth Rlverside Community D@velopment Centre
CAF Resllience Fund Phase 2
15,283
5,979
4,995
27,766
74,999
15,283
5,979
4,995
27,766
74,999
48,201
48,201
86,385
20,743
3,869
37,920
504,103
86,385
20,743
3,869
37,920
3.423
507,526
Charltable activities
Unrestricted Totsl Funds Unr8strict8d Totsl Funds
Funds
2024
Funds
2023
Workshops. semlnars. activities.
courses
Creche seNices
12,331
1,815
12,331
1,615
13,786
4,320
13,786
4,320
13,948
13,946
18,106
18,106
20

Women Connect First
Company Limited by Guarantee
Notes to the Flnancial Statements (contlnued)
Year ended 31 March 2024
other tradlng actlvltles
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Room hir8
World cafe
Project management fees
13,933
3,898
36,378
54,209
13,933
3.898
36.378
27,214
27,214
6,511
51,636
51.636
54,209
78.850
85,361
Investment income
Unrestricted Total Funds Unrestrfcted Total Funds
Funds
2024
Funds
2023
Bank interest receivable type 1
226
226
66
66
Investment management Costs
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Other investment man8gernent costs
Unrestricted
Funds
Rgstrictad Total Funds
Funds
2023
Other investment management costs
(1)
10. Expenditure on Gharltable actlvities by fund type
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Charttable activities
94,220
401,495
495,714
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Charitable actlvltles
49,366
590.651
640.018
21

Women Connect Flrst
Company Limited by Guarantee
Notes to the Financial Statements (¢onrfnued)
Year ended 31 March 2024
11. Exp8ndlture on charitable activltles by actlvlty type
Activities
undertaken Total funds
dlrectly
2024
Total fund
2023
Charitable activities
495.714
495.714
640.018
12. Not expendlture
Net expendlture Is stated after chargingl(crediting):
2024
2023
Depreclation of tangible fixed assets
421
631
13. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2024
2023
Wages and salaries
Soclal security costs
Temporary staff costs
Employee settlement costs
Employer contrfbutions to pension plans
other employee benefits
253,101
16,621
12,050
30,000
14,250
3,642
318,014
22,575
17,974
15,878
12,831
329.664
387,272
The average head count of employees during the year was 11 (2023: 14). The average number of
full-time equivalent employees during the year is analysed as follows:
2024
No.
2023
No.
Senior Manager
Project Manager
Project Officer
CrecheNouth Worker
Administration & Finance
12
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
14. Truste8 r8mun8ration and expenses
No remuneration or other benefits of employment with the charity or a related entity were received
by the trustees during the 2024 financial year.
In the 2023 financlal year, payments of £2,500 and £1,500 for consultancy services provided to
the charity were made to Mela Cymru. a company in which a trustee has an interest.
22

Women Connect First
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
15. Tangible flxed assets
Freehold Fixtures and
prop8rty
fittings
Total
Cost
At 1 April 2023 and 31 March 2024
Depreclatlon
At 1 April 2023
Charge for the year
At 31 March 2024
295.416
17.346
312,762
16.083
421
16,083
421
16.504
16,504
Carrying amount
At 31 March 2024
295.416
296,258
At 31 March 2023
295.416
1.263
296,679
16. Debtors
2024
2023
Tr8de debtors
Prepayments and accrued inc0rn8
1.138
30,907
10,190
86,557
96,747
32,045
17. Credltors: amounts falllng due wlthln one year
2024
2023
Trade creditors
Accruals and deferred income
Social securtty and other taxes
Other creditors
20,705
2,966
9,829
1,483
27,058
8,214
13,881
34,983
49,153
18. Penslons and other post retirement benefits
Defined contrlbutlon plans
The amount recognised in income or expenditure as an expense in relation to defined contribution
plans was £14,250 (2023: £15,878).
23

Women Connect First
Company Limited by Guarantee
Notes to the Flnanclal Statements (contlnued)
Year ended 31 March 2024
19. Analysls of charltable funds
Unrestricted funds
At
1 Aprfl 2023
At
Incom8 Expenditure 31 Mar 2024
General funds
316,471
69.985
(94,220)
292,236
At
1 April 2022
At
Income Expenditure 31 Mar 2023
General funds
258.882
100,445
(49,385)
309,962
Restricted funds
At
1 April 2023
At
Income Expenditure 31 Mar 2024
Cardlff Council
Cardiff Third Sector Council
Children in Need
Glamorgan Voluntary Services
Lloyds Bank Foundation
National Grid - Community Matters
Fund
Paul Hamlyn Foundation
Postcode Community Trust
Rosa - Voices from the Frontline
The National Heritage Memorial Fund
The National Lottery Community Fund
- Awards For All
The National Lottery Community Fund
Sustainable Steps Wales
Tudor Trust
Wales & West Utilities - Carbon
Monoxide Vulnerability
Welsh Govemment Anti-Racist Wales
Culture, Heritage and Sport
Welsh Government Sustainable Soclal
Services Third Sedor
Zurich Communty Trust
1.214
2.327
4,000
(5.214)
(2,327)
(9.463)
(2.676)
(25.000)
9,463
8,300
25,000
5,624
19,782
19,782
10,000
(10.000)
(30.024)
(12.475)
30,024
25.000
(7,000)
8,787
12,525
7,000
(6,787)
577
(577)
60.491
40.000
(29.772)
(40,000)
30,719
30.000
30,000
31,695
(31,695)
90,000
(90,000)
86,385
19,250
(86,385)
(19,100)
{401.495)
11,941
102,865
12.091
409,371
110.741
24

Women Connect First
Company Limited by Guarantee
Notes to the Financial Statements (￿ntInued)
Year ended 31 March 2024
At
1 April 2022
At
Income Expenditure 31 Mar 2023
Cardiff Council - Period Poverty
Cardiff Council- Summer of Fun
Cardiff Third Sector Council
Children in Need
Glamorgan Voluntsry Services
Lloyds Bank Foundation
National Grid - Communty Matters
Fund
Older People's Commissioner for
Wales
Paul Hamlyn Foundation
Postcode Community Trust
Rosa - Voic8s from the Frontline
Smallwood Trust and the Women
Thrive Fund
Techniquest
The Nalional Heritage Memorial Fund
The Nalional Lottery Community Fund
Awards For All
Tudor Trust
Wales & West Utllitles - Carbon
Monoxide Vulnerabllily
WCVA Voluntary Services Recovery
Fund
Welsh Government Child Poverty
Welsh Government Equality &
Inclusion Programme
Welsh Government Healthy and Active
Fund
Welsh Government Anti-Racist Wales
Culture, Heritage and Sport
Welsh Government Sustainable Social
Services Third Sector
Zurich Community Trust
South Riverside Communty.
Development Centre
CAF Resilience Fund Phase 2
2,000
5,000
3,000
500
(786)
(5.000)
(673)
(9,513)
1,214
2,327
9.013
10.310
27.250
{17,778)
19,782
10.000
(10.000)
3,000
47.000
(3,000)
(28.476)
11,500
30,024
7,000
7.000
29,654
1,500
20,549
(29,654)
(1,500)
(43,762)
23,213
10,000
40,000
(9,423)
(39,965)
577
30,000
29,965
15,283
(15,283)
5,979
4,995
{5,979)
(4,995)
27.766
(27,766)
74,999
(74,999)
48,201
(48,201)
86,385
17.500
(86,385)
{5,559)
11,941
1,689
75,232
189,412
7,112
37,920
(8,801)
(113,152)
(590,652)
504,103
102,863
25

Women Connect First
Company Limitsd by Guarantee
Notes to the Financial Statements fcontinuedj
Year ended 31 March 2024
Endowment funds
At
1 April 2023
At
Income Expenditure 31 Mar 2024
Pemanent Endowment Fund
200,000
200,000
At
1 April 2022
At
Income Expenditure 31 March 2023
Pemianent Endowment Fund
200.000
200.000
20. Analysis of net assets between funds
Unrestricted
Funds
Restricted Endowment Total Funds
Funds
Funds
2024
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
96,257
230,962
(34.983)
292,236
200,000
296,257
341.703
(34,983)
602,977
110,741
110,741
200,000
Unr8Strict8d
Funds
Restricted Endowment Total Funds
Funds
Funds
2023
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
96,678
268,947
(49.153)
316,472
200,000
296.678
371,810
(49,153)
619,335
102.863
102.863
200,000
21, Analysis of changes In net debt
At
At 1 Apr 2023 Cash flows 31 Mar 2024
Cash at bank and in hand
275,063
34,595
309.658
26