Charity Registratlon No. 1163981 Company Regkstratlon No. 05051891 IEn9land and Vlalesl HULL WOMENS NETWORK LTD ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Fawley Judge & Ea$ton Chartered Certif*d Accountants 1 Parllament Street Hull Ea$tYork6hire HV12AS HULL WOMENS NETWORK LTD LEGAL AND ADMINISTRATIVE INFORMATION Trustees Ms K 8r&y Ms L M Hikjer Mrs H K Johal Ms T L cC￿￿r S¢¢retary Ms L M HI￿tr Charlty number 1163981 Company number 05051891 Registèred office 185 Preston Road Hul East Yorkshire England HU95UY Auditor Fa￿Y Jud9e & Easto Chartered Cerofied Accountants 1 Par￿a￿ent Str88t Hull East Yor*shfjre HU12AS HULL WOMENS NETWORK LTD CONTENTS Page Trustees, report Statement of trustees. responsibilities Independent gudilorfs report stsiement activtiies Baiance sheet ststernenl ofcash flows Note8 tr> thè finan￿al st8lements 10-19 HULL WOMENS NETWORK LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT> FOR THE YEAR ENDED 31 MARCH 2024 Thè trusleès present Iheir annual report and frArrial ststements for the yearendad 31 Mar¢h 2024. The finanual staternents have t*en prep3red in accOrdar￿e vrith the accounting policies set OLrt in notè 1 to the fin?nrAal stalernents and ￿mpty with the ¢haritls articl85 of assooatKJn. the Companies Act 2006 and'Accounting RepDrting by Chatities- StateN*nl of Recommended Practice applicable tc cha￿tieS P￿parIng their acwJnls in accc(dance with the FinanL?al Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS 1021 (Ètfectve 1 January 20191". C*jectlves and arfivttles The ¢haNty's object5 are the of sats and SUPPDrted 8ecomn)Jdatbon to women and children expeti2ncang dornestic VKAence arnl abuse. poliues adopw In furtherarK* of these obj8cts are the tharities arick5 and there has been no change In thesè during the year. Public benefjt The Ifltstees have p414 due regard tts guidan￿ iswed by Ihe Charity Commi$sioTh in de¢￿ing whal ¥tNities the chanty should vrthrtake. Significant 4GtNitie5 Hull Women's Nebyork is run by wmen for women and gin￿ to offer $af8 and SUPFQrted 8¢X￿modatiOn lo women and chI￿re￿ èxperienBing domestic Vio￿Th￿ and abuse. Oespite the ehalenging rnaL¥¢>eeA)mmic dimate the organisab.on ha5 ￿ntInUed to develop its seNices to respond to incre&sed demand and need in the 8urroundin9 c¢mmunity. The tsr9arusalion owns a portf<)lio of 107 dispersed PTOPÈrt￿s and works dosely women ¢hildren affected by dornestic wolence aHd atxtse evèry year, enablng theTh tD WP8 Wth ¢ri5i$ and develDP themsèfva$ F¢6itively. Bejow 15 a S￿0p>S of our key seTvi¢es hav• been ddiYer8d Ihis year and wntributsd to 8th￿VIng our charitable obje¢tives'. Safe dispers•d accommodatjon Hull Wom?n'5 Network has successfully overseen a dispern& aoxmmodatDn seNce since 2008 All the properties in the portfolio are ctnsislently ienanted demonstrats"w the signrficant need for our Sery1￿ Yo￿1S1on. We have worked successfijlly in parthership wrth the loeal aulhority and other loc31 organt5a*"ons Iti ensure that each property atso benefjts from target hatdgnng rneasures and is equipped wth lrfeline aL8rms as necess8ry to each tenant. Figures based ￿ H¢yne Office dats, Cabinel off￿ 8nd other GovÈmmÈTht Dopartmenl publicatsons and res6arch dem(msrate that for eèth £1 invested in prevention of dome5tlc Y￿18n￿ and abuse, a ￿tuM of £7.12 can be a¢h￿ed. Vokrnteer5 The work of all the voluntee￿ Vli￿n the company is greayy valued. Not only do our vohJnteeT5 give of their tirne and energy 19 $VPFMJrt lh8 organisation. they Q*ntrit￿ts ¥tively to shaping our servi￿$ co-produ¢iNJ servi￿. Local women support fval women to reeover trcth crrises and rebuild their Irvas through the xtMtie5 and services the ￿ntre provides. AGhievements and perfornance SignrfKanl aGtNitle5 and aGAigv8r￿￿nI¥ 8galnst HULL WOMENS NETWORK LTD TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Fundraising p8rformanc& Fundraising a¢ttVbties Funclrai8ing activities during the year irKluded income frvm". - Rental i￿orne Irom our dspersed a¢¢A)mmodat￿ - Pr(perty mana9emenl charges trorn private landlords - grant Incorne from Henry Smilh charity Financial review Reservespolicy Reserve6 policy Tf* trvstees havè establishèd a r8S8NÈs policy whereby they wish to see the unrÈsthrted funds not committed or inv&sted In tangible fixed assets Ithe free r•serves'l he￿ by thè Gharty to be èl a level to ensu￿ the wnlinuity of the charity and this equates to approximately £30.000 In general funds. At Ihis lèvel tre trustees feel that they would be abk lo continue current activib.es olthe company in the event of any &gnifi¢ant drop ITh funding. We believe that Ihe Charity's funds shDuld be applied to d8lN8ring the charrty5 objecbves and th2refo￿ do not aspi￿ to hohj More than thi5 8rnount in r858rvos unl￿$ planniw for a specafic purpose. Additional ￿serVeS may be applied to rEdu￿ng ow loan commitments a5 and when the Trustees detm prudent. Principal furKling sources The pnneipal funding Sources farthe rxganisation during 2023124 are.. Inojme from dispersed accotnmodati¢n We reegwed a grant trom the Henry Smith charty to house women who ara at even ￿eater risk as they are aged between 16 10 18 or they have recourse to publK frjnds. M8wrisks The trustees have assessed the Th8jor risks to which th8 charty 15 e¥posed. arKI oro satisfipd th8t systÈms gre in lace to rnitigale exposure io the major r￿ks. Plans forfuture pe￿0d9 FUTURE OEVELOPMeNTS Hull Women's Ne￿rk will continue to seek opporttnitres to increase rts yxtfolio of dispersed a¢eornmodabDn offering safe accornn7odaty"OA to women and chrfdren fleeing wolen¢è and abuse. Work will continu8 in conjun¢tl¢n with Winner Trading Ltd to i¢pntify and recruit Suitable privat? landlords for wl)om thè organis8lion can provide a property management service. thereby increasing the portfoqio MrythoLrt the concomitsnl cawtsl outlay. Work N%ill also ts)ntinu8 to identty fvnds lo purttha5e n8w properties. in particJJlar to meet the idenlffied needs one-bedroprned flats for wDmen wth)ut thildren and genÈtal neeojs accommodètion. We wll work with stalulory sector partner5 and tharitable Irusts to realise aspirations so that the (ryanlsabon n eorisnue to provide ils essentsal seNlees far into the future. st￿￿￿e, governance and management The chanty is a company limited by guarantee. HULLWOMENS NETWORK LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORD (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Irustees. who are also the dlr8cior5 for the purpose of cornpany law, aTrJ who served during the year and ￿ to the date of 5ignalur¢ of the ffinaNal stst?m¢nts were.. Ms K Br8dy Ms L M Hilder Mts H K Johal M5 T L Cooper Recrurtment and apwntmont of truste•s None of the trustees has any benefi￿81 nierest in the company. Ml Dfthe b￿Stee5 are rnertiers ofthe ¢ompany and guarantee to contribute £1 in the event ol a wnding up. Auditor In ac(x>idan¢e with the cornpanys arbdes, a resolution proposing thai Fawey Judge & Easton be reaFPOinted a5 auditor of tre wmpany VAII be wt at a G8neral MeetKy. The trustees, report was approved by the Board ofT￿tee5. Ms L M Hilder Trustee 26 July 2024 HULLWOMENS NETWORK LTD STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 AIARCH 2024 The trustees, who are also the directors of Hull Womens N8t￿Ik Lt¢ for the purpose of eomp8ny law. are responsible for weparing the Tru$leE5' R8wt and the financial statements in acmrdance ￿th appliCa￿e law and Unrted Kingdom Aefx￿nbnY Standards (Unrted Kirydorn Genera11yAceopled Accounlmg Practice). Company Law requires the IDJstses to prepare finan￿al statements for each finan¢ial year which give a true and fair iew of the state of alfars of the charity and of the incoming resources and application of resources. includin9 the income and expenditure, of th8 charilable company for that year. In prepanrg thesè fin8no81 st8terwts, the trustees are required lo.. - sekd suilable acwunting rx)licies then apply them eonsistenlty.. - ob5eNe the rnelhods and prinlyp￿5 in Ihe Charrties SORP., - make judgemenls aryl e5timatè5 that are reasonable and prudent state whether applicable UK Atxounting siandards hav• been followed, subj¢¢t lo any material rleparturÈ5 disc50sÈd and exFlained in the ￿8￿la1 State￿￿￿ts,. and prepare the finanaal slalemenis on the going concern basi5 unkns it 15 inappropriate to presume that the charity 11 o)nlinue in operabon. The trustees are resPon%b￿ for k4¢pln9 8dequalÈ aeetsunthng Tecord$ that disclose ￿th reas￿8b￿ accuracy al any bme the finanoal position of the eharrty and 8nabl8 them to ensure that the financial ststements cornply with the Companie5 Act 2008. They are also responsible for safeguardin9 the assets ol the charity and hence fix taking reasonable step5 for th8 prevention and dElection of fraud and othw irregu1aiil￿S. HULLWOMENS NETWORK LTD INDEPENDEKf AUDITOR'S REPORT TO THE TRUSTEES OF HULLWOMENS NETWORK LTD Opinign We have audited the financial statements of Hun Womens NefvJorf¢ Ltd lthe'chariVI for the year ended 31 Mjrch 2024 which ¢orrprse the sl8ternent Df financial activib"*$. tre balance shee( the statement of o5h fits￿ and notes to the financial Statements, including signhfcant aeAXAJnting polic￿8. The financr41 rÈwung framework that has been applied in theK weparabon is applKable law and Unit&l Kingdom Accountsng Sland8rds, including Financial Reporting Standard 102 The Financial Repo￿n9 Standard applKable in the UK Republic of Iroland (Uniled ngdom GenerallyA￿9pled Acci)unting Practieek In Ouf opinic￿. the financHI 5tatements'. give a and fair Mew of the *aie of Ihe chartiable company's aff8irs as at 31 March 2024 and of rfs incoming resour￿ and app1K*1￿ OT resour￿$. for the year Ih8n ended-, have been proF*rfy prepared in acwrdance wth United Kingilom Generalty A¢r*pted Accounting Prad1￿.. and have been prepared in awdafire wth the requ1￿ments ofthe Cttmp8nk?s Act 200e. Basis fr•r opinion We Conduct￿ our audit h) accordance with Inlematioftal Standards on Audrting IUKI IISA5 IUKII and applicable law. Our responsibilities under tr¢)se standards afe fvrlher Efes¢nbed in lh¢ Auditorfs r8sponsitKiltss ft*rthe audit or the fwancial starements sedion of our Feporl. We are independent ol the charity in a¢¢r)rdanc8 Wrth thè ethK81 requirements that ave le￿vant tp ¢ur audrt of financial statements in the UK. indudin9 the FRC'S Ethical Standard, we hav& fUlf￿led Dur other ellvol responsibilitses in accordarK8 with these requirements_ We believe that the audit evLdence w• have cbtain•d 1$ SLfftvant and approprrate to provide a basi5 for our Opinty￿. ConGlusSons relatlng 10 90in9 e#nG•rn In auditing the finanoal statements. we have cortluded that th8 tnL8tees' use of Ihe going concem basis of a¢counthng Iri the preparab.on of Ihe ftnarKial 51atements is gppropriate. Based on Ihe work we have perfDrmed, we have ￿t identthed any rrAlerial uncertaintiès rekting to events or nditions thal, indNidually or colletholy. may csst signffiont doubt on the ¢harty's abilty to ¢xntinL* as 8 going concem fora Per￿ of at least Iwelve months from when Ihe fir￿a￿al statèments are aulhtsnsed for issue. Our wespoftsibilil.es and the re$￿￿1b11￿les of th* tru$t88s wlh ￿Spect lo goiThJ eoneem are deseribed in the relevant sethons ol th￿ rvport. Other inforniation The other infomation comprises th? information ￿d￿ded In U)e anrua1 rgport other than the financial slatemen15 our a￿rt0￿5 report thereon. The trustees a￿ responsible fDT the othÈr inforrnabon contained witrun the annual reFX>rt. Our opinion on the finanryal strteff￿nts does notry)vw the other informalll￿ and we do not express any for of assurarKe (x)nclusion thereon. Our responsibility 1$ to r8ad the other infOrM8ti￿ and, in doin9 SO. COn5thr whether thè other infom)alion 15 rnalerially inconsistent the finanaal staternents or our kngwledge oblained in the Course of Ihe audit, or otherwise appears to be materially misstated. If we identify 5v¢h material ineonsistencies orappar8nt material rni5StatemÈnts. we are rewirÈd to d8ternwn8 whether tFws gives rise to a material rT45stste¢nent in the finan￿al statetnents thernselves. If. b8$ed on the work we hav¢ perform8d. wa condude Ihal there is a materid misststernent of tbLS Other ￿f0Th&￿'0n, we are required to Teport that faei. We have nothing to rewi In thL% regard. Mattets on whi¢h we are required to repgrt by exceptlon We have nothing tts report in resped of Ihe fgQosving m&tt8rs sn relation t¢ which tr* Chantses (A￿oLEnt$ and Reports) Regulations 2008 require u5 to re￿ to you rf, in ouropinKIn". the information given In the finanual statsments is ineonsistent in any material respect wilh the twslees. rerK)rt'. OT suffiaent ac£ounting records have not been kept.. OT the finanual statements are not in ayreem8nl with the awJnting rètc*ds,' or we *ave not recsvad all the infomation and explanal¢rts we require for our audit. HULL WOMENS NETWORK LTD INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HULL WOMENS NETWORK LTD RÈsponsibilities of trustees As exp18ined more fvlly in the stslernent of tNslee5' r05p0nsibiii￿es. the trustees, who arè also the 1ireclor5 of the tharity for the purpose of cornpany law, are reS￿￿sible for the preparation of Ihe finaTrcia1 staiements and for being satisfied that they give a true and fair view. and for such inttrmal control as the trusleÈs determine is nece55ary to enable the preparation of finanual statements that are treè from malenal m15Stalemenl, whether dutr lo tr8ud or error. In preparing the financi81 statements. the trUs￿eS are responsrble for assessing the charitys ability to Continue as a going concem. discjosiry. as applicable. matter5 related to going concem and using the going concern basrs of accounting unless Ihe trustees either to liquKlate the Charitablè ¢xrnpany or to cease operab"ons. or ￿ve no realist￿ artematyve but lo do so. Auditorfs responsibiliti￿ for the 4udlt ofthe finanGial Smements We have been appointed 8s auditor undw sectyon 144 of the Chath'•s Act 2011 and report in acctyrlance wth the Act relÈvant Wulat￿n$ made or having effect thereunder. Our obje¢tDies 8re lo (knaits reasonable a￿￿19n¢e atrout whether the financial statement5 as a wholè are flee frorn Materi81 MISS￿teMent. whether due to fraud or errlx. and to L8sue an aL￿110r$ report that includes our opinion. Reasonable assur8r￿ T5 a high level of assurance but is not a guarantee that an audit Conducted in accordance ith Isks IUKI wll a￿8yS deled a rnaterial misstatement wh?n it exists. Mi5Staternents can arise from fraud or error and are considered rnaleri81 if, indi￿dUallY or in thÈ a99regate. they reasc￿0bty be eycted lo influence the economi¢detss￿rts of useTS taken on the ba%s of these fin8noal statements. The extentto our pro¢g¢ures are capable of detecting irregularits'es. In￿UdFr￿ fr8ud. Is detailed bebw. A fUrt￿r des¢riw"on of our T8SPC>n5iknlilies is 8vailabte on t￿ Finan￿81 Reporttng counc￿ s website at.. http5Jl w*w.frc.org.ukJauclrtorsrew&bilitiÈ5. This description form5 part ¢four audilotts report. This report Is rn8de sO￿lY to the company's rnernbers, a5 a body. in atrordan￿ wth SeCt￿n 391 of the Companies Act 2014. Our 7udit work has been undertaken so Ihat we might Slate to the c¢)rnpany'5 members those rnatter5 we are required to siaip ID them in an auditof5 report and for no other purwse. To the fullE5t extent permitted by law, we do not accept or assume ￿SPOnSIbl1ty to anyone other Ihan the company and the cx)rryany's tnemtrers a5 a boLly, for our it work, for this report. or for the tspinions we have fomed. Jonathan Leathlèy Isenlor Statut¢*ry Audltorl lor and on behalf ol Fawley Judge & Easton Charterod CertifJe*J Accountants statuttsry Auditor 1 Parliarnent Street Hull East Yorkshire HU1 2AS 26 July 2024 Fawley Judge & EÈ5ton is eligi￿• lor appoinlrnent a5 auditor of the d)arity by virtue of its eligibility for appointment a$ auditor of 8 cornp8ny under section 1212 of the CompaniesAd 2006. HULL WOMENS NETWORK LTD STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unre8trict¢d R•stricted funds funds 2024 2024 Total Unrestrided ReStr￿ted funds funds 2023 Totsl 2024 2023 Notes Ineome an owments from: Donat￿n5 and lÈgaae5 Charrtab￿ 8¢tiV￿e$ other income 10,438 689.3CK) 149.000 159,438 6e9.300 124.441 6¥2.614 313 183.441 692.614 313 Tolal Income 699,738 149,000 848,738 817,368 59,000 876,368 ndlture CharitaUe aebwties 501.979 59.000 560.909 621.358 59,370 680,728 other 11 242,443 242.443 2¥8.123 293,123 Total re$ource$ expended 744,352 59,000 803.352 914.481 59.370 973.851 Nel gainsllbsse51 on inves￿ent prope￿5 12 1518.8951 1518,895} 1,725,818 1.725,816 Gross transfer5 b8h¥e*n fijnds Net lexpendi¢urèyincome for the yeafl Net m*)vernent in I￿￿1$ 13701 370 1563.5091 90.000 1473,SCO1 1,628,333 1,628,333 Fund balances at 1 ￿rtI 2023 4,442,858 4,442.858 2,814.525 2,814,525 Fund baban¢es at 31 March 2024 3.e79.349 90,000 3.969,349 4,442,858 4.442,858 The slatern¢nt of f￿a￿[al al*"￿tiO$ includes all gains and losses recognisEd in the yÈar. The slatement of financial activtbe5 indudes all gains and l¢)sses reco9nised in year. ￿1 incDmearKI expendibjre dellve from conbnuing actimttes. The 51atemnt of finanaal aCtiv￿e5 also wmpli¢$ with th8 rgquirements for an incA)me and expenditure account under the C￿npanIeSAtt2OO6. HULL WOMENS NETWORK LTD BALANCE SHEET AS A T 31 AfARCH 2024 2024 2023 Fixed asset5 Investment propertie5 Current assets Oebtcrs Cash 8t bartk and in hand 14 9,208.000 9.726.895 15 S54,357 233.605 586.457 4.232 787,962 CredStors'. amounts falllno due within onè year s￿,689 17 1529,4681 1542,5051 Net ojrrent asspts 258.494 48.1 Total assets le$$ current Ilabill￿e$ 9.466,494 9.775.079 ¢r¢ditors'. amounts falling due afttr mor& than one year 18 15,497.1451 15,332.t211 Net a%$ets 3.969.349 4.442,858 Inctsmè funds Reslrict&d funds Unrestricted fimds 21 go,000 3.879,349 4,442.858 2.989.349 4.442,858 The (X￿panY 15 entyleEI lo the ex&rrpbon from the audlt reqLrirerrent contain￿ in section 477 cf the Companies Aci 2006, for ltte year ended 31 March 2024. 81though ￿ audit has been carned out under secthon 144 of th? Chariti8S Act2011. The directors ackno￿edge thetr responsibil¢ties for eornptying wth th• requiremènts of Ihe Cownie5 A¢t 20C with ￿SPe￿ to acccrtJniiThg reeord5 and the preparats.on of ￿a[￿la1 statements. The mÈmbers have not required the company to obtain 4n audit of its finarncial st21•rnen15 under the requirements of the CompaniesAct 2006, for the year irj question in accordance with sect>on 476. These finanthal Statements have been prepared in accordance %wth the prowsnns appl￿ble io cornp8n*s subject to the small wrnpanies reg￿rne. The finarrial ststemetts were approved ty the Tru51ees on 26 July 2024 Ms L M Hikyer Trustee Company Registratson No. 05051891 HULLWOMENS NETWORK LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notss Cash tlows from op¥atsng aG*Vtt C85h genwated from operab'on$ 2S 62,049 23,395 Net cash used in snvesting aGlivlties FinanGing aGti¥itles Repayrnent of bank ￿an$ 167.324 122,e301 Net cash generated ftomllused inl rinancing aGttvltfes 167,324 122.6301 Net increase in cash and G49h equivalents 229,373 765 Cash and cash equN8lents at begining Df year 4.232 3,467 Cash aDd cash equivalents at end of year 233.605 4,232 HULL WOMENS NETWORK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 AC￿ntIng p)licle5 Charlty inf0m￿tIOn Hull Womens Ntslwork Ltd is a prfvatè company lirnited by guarnntee in¢orporated in England 8nd Waks. The registered office is 18$ Preston Rosd. Hull. East Yorkshi￿, Hug SUY, England. f.l Accountlnu convention The financi81 ststem8nts have been prepared in aecordance wth the charity's Igoveming docbjmenfj. the Companies Act 2006. FRS 102 Yhe Financial Reporting Slundard applicable in the UK and Republlc of Ireland. I"FRS t02"1 and the Charities SORP -Aceounting and Reporting by Charib"e5. Statement of R￿Drnmended PraclKe aP￿Icable to ch8rthes preparing th￿[ a¢wun15 in a¢¢ordanc& wlh the Financial Reporting Standard applitable in the UK and Republic of Ireland IFRS 1021. leffectNe l January 20191. The charity is a Public eenefit Entity as defined by FRS 102. The finanrA81 ststem8nts a￿ prepared in *erling. which is Ihe lunctional currency of the charity. Monetsry mounts in thÈ5e financial slatern?nts are rounded to thè nearest £. The finawal statempnt5 have been prepared under th¢ hr&tcrical c￿t CDnVenIr￿, Imcrt1rfied to ffclude the revaluation of fre8h)Id properriè5 and lo include investment prryerts.es and c8rtain financial instruments al fair valvel. The wincipal accounting policies adopted are set out below. 1.2 Going concern Al the tirne of approving the fin8nclal statements, the trustees h8ve a Tra50nable èxpedallon that thè charity has adequate resource5 to continvÈ in operational existence for Ihe foresee£ile fiJtu￿. ThLS the trustee5 continue to adopt the going ¢oA¢em basis of accJJunling in prepwing the financial statements. 1.3 Charitable firnds unrestrict￿ funds are availatle for use at ¢he disuetion of the trustees in furtherance of their charitsble objectives. Reskn¢ted funds are Subject 10 5pecffic conditions by donors ¢r grant0￿ as to how they may bè used. The purposes and uses of the restncled funds are set out in the notes to the finanaal statements. ErKlowrnent are subject ID specffic ¢ondit*)ns by ¢Jonors thal c8Prtal rnusl be rn8intaineO by the charty. 1.4 Income In¢orne Is Ecognised ￿tten the tharity is leg811y 2ntil￿d lo it after any perforrnar￿ ccfiditk)ns have been met. the amounts ¢an be measured reliably. and rt is probable that income wll be re￿IVad. Cash donalions a￿ rocognised on recwpt Other donatiDn5 arè recognised (￿te the tharity has been rK>tified af the donation, unless pertorrnance conditions require deferral of the amwnt. I￿rne tax racoverable in relalion lo donèlions received under GfftA￿ trr deeds of covenant rwnised al the lime ofthe donèt￿. Leg?ryes are recognised on receipt or othernise if the charity hos been notified ￿ an impending distrIbut￿, Ihe arnount is known. and re￿apt is exppcted. If the arnount 15 not known, the legacy Is treale(J a$ cOnt￿gent a55et. 1.5 Expenditure LiabilitY&s arv recryJni5ed as eynditure as soon as there is a legal 01 constructive obligation c¢mmitting the charity to that èxpenditure. it is probable th81 a transfer of econom￿ benefits will be ￿quITe(l In settIerr￿1 and the arrv)unt of the Obl￿atIon can be m&a$ured ￿l12b￿. Expenditure 15 accounted for on an ar£ruals basi5 and has been tlassified under headings that aggre9ate all cost rekted to the category_ Vvhere eosls tannol be directly atttibute(S lo partw5ar headings they have been albcated to activi*'e5 a basis consistent wrth the use of resources. 10 HULL WOMENS NETWORK LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accoun¢irtg policies (Continued) 1.6 Investment pyopety Investment prop*tr. which is property held to eam rentals andlor for c8Pita¢ appTeciatKJn. is inilk8lly recognised at ¢ost, Ithich indudes the purehase Cost and any di￿¢1￿ attributable expenditure. Sub5equenly is measured at fair value at ihe reporting end date. The surplus or d8fjeit crt revaluation is recognised in wofit or loss. IPrcpèrty rented to & gr£*Jp entty is accounted foras tangib18 fixed assets.1 1.7 Cash and cash equlvaleT Cash and cash equfvalents inclJde ¢ssh in hand, deposits at ral vAlh b8nks, olher shtsrt-term Ihiuid inv$$tments wlh ortr?nal malurities of three rnonths or W. and bank owwdrats. Sank ovwdrafts are shown itrin borrowngs tn current1obilitiÈs. 1.8 Financial in51ru¥nents The charity has elected to apply the provs1o￿ of Section 11 '8asi¢ Financial InstrumNts' 8nd Section 12 'Other Financ4al Instrurnent5 Issues, of FR8 102 to all of its finandal instNments. Financwl ￿Struments are reeognised ￿ the th8rity's balanL* $heel when the tharity bary)m85 party io the contractual prtyASb)ns of tha instN￿nt Finarual assats *)d liablibes are offsel th8 net amounts presentsd in the finantyal $tstemen15, when there is a legally enforceable right to set off the recogni58d amounts aThJ thtrè 15 an Intention io settle on 8 net basis ar to realise the as5etand settle the liability sirnultsneously. Basic financlalassèts Basic ffnancial a55ets. whKh indud¢ dablors ar* Cash bank balanr*s. are initrally measured at transaction prio Induding transactioth Costs and are 5ub5equenty camed at amortk%ed cost using ttrLe efféttivÈ interest method uThle5S the awangerneni consts"tutes a financing Iransadion, where the transaction is measured at the present value of the fvtyre raceipts discounted at a matket Tat? of Interest. Financial assets elassffied as receivable wthin one yèar are nct amortEed. Basic Ilnanu•lliabiltti*s Bastc finawal liabilitie5, including creditor5 and bank1gan5 are initolly ￿(￿gnised at transa¢Uon pri(x unles5 arrangement r4)tyslitutes a finanang tran¥ction, where the debt inStrU￿￿￿t 15 measured at the present value of kne fvture payments discourt￿ st a mark•t rate of Int&r8sI. Finanoal liablhties classrfied as payab thin one year are not amortssed. Debt inslwmonts are subsequentty Carr￿ at am¢Ytsed cost, Using the elTe¢fyve intsrest rate n￿t￿d. Trade cr8dttor5 aro 0tr)ligatThis to pay tor good5 or senrices that have boen in th8 ordinary eoutse of tsP8rations frDm suppliers. ArTr)unts payable are classif￿d a5 cijrrent liabil￿eS rf paynent is due wthin onè year or ￿S5. 11 rb)( Ihey a￿ presented a5 nonds where thè levis￿n affects tyorb curr8nl ￿ future penods. Income from d¢)nations and legacies Uryre5tricted Aè$tricted funds funds 2024 2024 Total Unrestricted Re5tr1cted lund$ fund5 2023 Total 2024 2023 2023 Donations and grfts Grants r8CgiY4ble 149,000 149.000 10.438 59,000 59,000 124,441 10,438 124.441 10,438 149.000 159,438 124,441 59,000 183.441 Income from charilable activltl¢s Unr45tricted Unrestricted fur￿5 fvnds 2024 2023 Coro Charrtable rental in¢ome 689,300 692.St4 Other incorne Unre8tricted Unrestrrctsd funds Jnds 2024 2023 er Inco￿ 313 HULL WOMENS NETWORK LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 Charil4Ue a¢ti¥rt R*ntsl Rental Properties PropeTbes 2024 2023 Stsff costs Propety repairs & mainlenanc* Insuran¢e Bad & doublful debt enry Smith eypendibJre 83,287 334,938 37.519 13.436 59,000 167.097 337.055 33.697 39.￿4 59.370 528,178 636,853 Share ol supwt costs1s8e nott 71 Share of governènce Costs Isee note 71 32.731 36,875 560,909 68Q.728 Analysi$ by fvnd Unrestncted funds Restrtc¢e¢ I￿￿d$ 501.909 59.1)00 621.358 59.370 560,909 680.728 Forthe year ended 31 March 2023 UnrestrKted funds Restricted funds 621.￿8 59.370 680,728 Supwt Co$ts Support Governance co$ts costs 2024 2023 Operatsng lease tharges T.CQO Accwntancy Lega and professional 3,013 29,718 3,013 29.718 2.700 34.175 32.731 32.731 43.875 Analy5ed bets¥een Charitable aclivitie5 32,731 32.731 43,875 13 HULL WOMENS NETWORK LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Net movefftnt in fund$ 2024 2023 The nel movement in funEls Is stated after chaoingllcreditTngl'. OperatsrvJ le8se charges 7.OCI) Tru51ee8 None of the trustees IDr any persons C$￿neCted with them) received any remuneral￿N OT bsnefits trom the charity Lluring the ye8r. 10 Ernployeej The average monthly number of ernploytes during the year was.. 2024 Number 2023 Number Employin*nt costs 2024 2023 Wages and salar￿$ Social security costs OthÈr per￿￿)n costs 70,666 10.345 2,275 147.654 16,147 3.296 83.287 167.097 There We￿ no 8mployees whose annual remuneration was more than £80,000. Rernuneration of key mana9ement ptrsonnel The remuneration of key man&gement pèrsonnel w85 8slr4ow8'. 11 Other ilnrestricted funds Tot81 2024 2023 Finanong costs 242,443 293.123 242.443 293,123 14 HULL WOMENS NETWORK LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Gains and losses on Invèstrnents Unrestrided UnreslriGted fund$ fund$ 2024 21)23 GainslllJs58s1 on.. R8valu8tty￿ of Investment prtworti85 1518.8951 1,725.816 13 Taxation The charlty is exeryyt from taxation Dn its 8ciwitie5 berAuse all irKome Is applied for charitatAe purpD5es. 14 In¥esiment Property 2024 Falr v4lue Al 1 April 2023 Nel ga￿5 Dr losses trough fatr value adjustments 9.726,895 1518,8951 At 31 March 2024 9.208,000 The tfustee's have revalued tre prowties U￿ng the current market of similar prop8rties ui tt)e immediate area of the housng stock The inforniatiofi has been gathe￿¢ frorn rteenlly sold price4 current propertse5 for sale and online sources 5uth 8s Zoopk. 15 Debtovs 2024 2023 Amounts lalling due withln one year: Trade dèbitsrs Other debtors PrePaYn￿nts and accruad in¢LYne 3,213 S37,￿5 13,789 21.839 550.829 13,789 554,357 586.457 16 Loans and overdraft¥ 2024 2023 Bank loan5 5,477,689 5.310.365 Payable alter cffie year 5,4TT.889 5,310.365 The long-tem loans are SecU￿d by fixed charg8s over all propety held by the Charity. HULL WOMENS NETWORK LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Credltor$- amounts falllng due within onÈ year 2024 2023 Notes Govemment 9rants Trade creditors Other creditor5 Accfuals and deferre¢ Income 19 437.819 50 34,761 S7.038 448.059 2.897 34.511 57.038 S29,468 542,505 18 Creditovs- amounts talllng due after more than one year 2024 2023 N0ts8 Bank loans Other uedilor5 16 5,477.689 19.456 5.310,365 21.85e S.497.145 5,232.221 Otrer Creditors rèlates lo the ESF fiJnding that is beir4 rep8￿. The organisalDn Is rap8ying Ihe fund back at £2,400 per annurn. 19 Government grants The grants funding Mthin Hull Vvomens NeN¥orf( Ltd relates to the a¢qUI&tic￿ of the p¥op•rties purchased tyy the charty. ThesB grants are ammortised over the useful ec￿OrniC lffeb.ffle of the properties in lin¢ with the grant terms. The amount rtrfnaining at they year end is £437.619120234448.0591. Deferred income is included In the ￿Trar￿la1 Stslements as fo￿.. 2023 Deferred in¢xrne is included within.. CutTenl liabilities 437.619 448.059 ovements in the year. Oeferred Income 811 April 2023 Rekaseil from premous periods 448,059 110.4401 458,497 110,4381 Deferred In￿Me at 31 March 2024 437.619 448,059 20 Retirement b¢nÈfft schemes Dèfined contribution schemes 2D24 2023 Chaige to profit or10s5 ITh respeet of delined Contrib￿lon schemes 2.276 3,296 18. HULL WOMENS NETWORK LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2024 20 Retirement benefft schemes (Continued) The charity cperat85 8 defned contribJtion pension stheme ftsr all qualtying ernployèas. The assets of the s¢herne are held sep*atoty fr￿n those ¢1 the charity in an independentlyadmini5tered fund. 21 Restricted funds The restrittsd fur*ts of the ¢harity ¢omprise Ihe un¢xpended b81ances of donafr.cfis and gr￿ts held On twst subje¢l lo spe¢ifi¢ conditions by th)nor5 as tg how they may be u￿. At 1 Aprfl Incoming 2023 resour¢¢5 R¢50urce5 expended Transfrrs At 31 March 2024 149.000 {59.WOI 90.OOD Prevlous year.. At 1 April 2022 Ineoming resour¢¢s Re$ources expended Tran5fer8 At 31 March 2023 59.000 159.3701 370 UnrÈstri¢t¢d funds The unrestrKted funds of the charity ¢>Jmpri5e the unexpended balances of donatiC￿5 and grants %thich are not sutyect to specbfic 0)￿￿10nS by donor5 and grantors as lo how they may bè used These include designated fundswhith ha¥e been set out ol unrestrided fijnds by the irustees for specrfic purposes. Gains and At 31 March losses 2024 At 1 April 2023 Incoming resources Resources expendgd Trnnsfers General funds 4,442.858 699.T38 1744.3521 1518.8951 3.879.349 Prevlous yèar- At 1 April 2022 Incomi R•sour¢es re$ourcEs expended Tr3n8fers fjains and At 31 March losses 2023 Gereral funds 2,814.525 817.368 (914,481 13701 1.725.816 4.441858 17- HULL WOMENS NETWORK LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 IAARCH 2024 23 AnaJy515 of net asstts beTh¥een fund$ Unrestricte(I fund$ 2024 RpstriGted funds 2024 Total 2024 At 31 March 2024: lll¥e5tfftent woperties Curient asselsllliabilits'esl Long lenn liabilities 9208.000 151,647 15.497,1451 9208,000 258.494 15.497,1451 10s,847 3,862,502 106.847 3.969,349 Perbalance sheet Balance tt* allocai* 3.879.349 16,847 90.000 116.8471 3.*9.349 Unre5trict¢d funds 2023 Restrioted fund5 2023 Total 2023 At 31 Mar¢h 2023: lmiest5r￿t propertEs Current 8$5etsllliabilibesl Long lem) liabilities 9,726,895 48,184 15.332,2211 9,726,895 48,184 15,332.2211 4.442,85a 4,442,858 Related party tr4nsactions Transactions with rel4t•d parues Dwir¥J the year the charity entered into the folknving transactions with related parties.. The follmng amounts We￿ outstaTh¥ing at the repcKting end date.. ArrKIunts owed to related partles 2024 2023 Winn*r. The Pr&ston Road Wornens Centre Ltd 34.761 34.511 34,781 34.511 18 HULL WOMENS NETWORK LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 Related party transactions Icgntinuedl The folknwirwj arnounls were outstsnding at the reporbng end date.. Amounts owed by related Amounts ¢ywed by Telated partie5 partie5 2024 2023 Balance Balan¢¢ Net Net WinnerTrading Liffnted 537.354 537,354 550,828 550.828 537,354 537.354 550.828 550.828 25 Cash genernted frorn operdtion$ 2023 (Defrilysurpusforthe year 1473.5091 1.628,333 AdI￿tr￿ents for. Fairvalue gains and on inY¢stmont properties 518,895 11.725.816) Movements in worting ¢apitsl-. DecTÈase in debtors IDecreaseyinuea5e in creditors IDecrtasel in defèrred intr)me 32,1rKJ 14.9971 110.4401 101,859 29,457 110.4381 Cash generated trom 0￿￿tIOnS 62,049 23,395 26 ArLalysis tslchan9e8 in n•t IdebtllfvrKI8 At 1 April 2023 Cosh fivvAAt31 March 2024 Cash at bank and In hond 4,232 229,373 233.605 Loansfalllng due after more than orvè year 15.310,365} 1167,3241 15,477,889) 15.306,1331 62,049 15.244,0841 19