REGISTEI REI D COMPANY NUMBER: N1022541 (Northei'n li'eland) RCI GISTEI RE( D CHARITY NUIIIBER: NIC100149 ort oft- the Triistees 42nd Financial Statements for the Year Ended 31 March 2024 for Women's Resource and Develo Com an Limited an Limited b Guarantee nient A eiic Acom Lynii Di"ake & Co Ltd Stattitoi'y Auditoi's I st Floor 34 B-D Maiii Sti-eet Moii'a Co. ATinagh BT67 OLI
Women's Resource and Develo Com an Limited ment A enc Contents of the f4 inancial StatL Tnents lor the Year Ei nded 31 mai.ch 2024 Page Reference and Adtninisti-ative Details Report of the Ti'llstees Repoi't ot the Independent Auditors 10 to 13 St<ement of fi iiiancilll Activities 14 Statement of fiinancial Position 15 Statement of Cash filows 16 Note5 to the Statement of Casli f4lows 17 Notes to tlie Financial Statements 18 10 34 Detaijcd Statement ol. Financial Activities 35 to 36
Women's ResourLe and Deirelo Cotn Limited ment A enc Rek'erenee and Administj'ative Detai15 foi. the Year Ended 31 March 2024 TRUSTEES Anne O'Reilly Karen '1]iSti.0ng Eileen Weil. Alexandi"a MLCaiTy Robyii Clcire Scott Kendall Boiisqiiet (i'esigiied 81612023) Caoiinhe Ni Dlionaill Michelle McLaiighliii Giaiillie Mackel (appointed 181112024) Loiiise McKeoMin (appointed 141312024) Sopliie Meiiwissen (appoiiited 91112024} Catheriiie Minford (api)ointed 81112024) COMPANY SECRETIUiY Eileeii Weir REGISTERED of4 FICE 6 Mount Cliarles Belfast Co. Anti'iin BT7 INZ RECISTERED COMPANY NUMBEI R N1022541 (Northern Iieland) REGISTEREI D CHARITY NUMBER NIC100149 AUDITORS Lyiui Drake & Co Ltd StatLitory Aiiditors I st Flooi- 34 B-D Main Street Moira Co. Alinagli BT67 OLE
Women's Resoui"ce and Develo Com an Lin]ited Jnent A enc oi't of the Triistees fol" the Year Ended 31 Marcli 2024 Tl)e liustees who al'e also dii-ectoi's of the cliarity foi. tlie piiiyoses of the Coinpanies Act 2006, pi'esenl theii. report with the fiiiaiicial statements of tlie cliarity foi. the year ended 31 Marcli 2024. The trustees Iiave c1dopted Ilie PL'OVlSlOllS of Accountiiig aiid Repoi'ting by Charities.. StateineDt of Recoiwnended Practice appliciÉ ble to cliarilies pi'epaiiiig tlieii. accoiints iii accoi-dallce witli Ilie Finaiicial Reporting Standard applicable in Ilie UK and Republic of Irelaiid (FRS 102) (effective l Jaauary 2019)- OBJECTIITES 2iND ACTIVITIES Objectives and Aims Tlie aiins of the cliarity (wliich has 800 meinber groiips and individuals througliout Northern Ireland) have beeii eiic2psulated in the following iiiission statement.. MtRDA's inission as a iegional organisation is to advance woinen's equality and participation in society by workiiig to ti'an8fonn political, ecoiioinic, SOCiÉ11 and cultuial coiiditions. 'riie f4ollowing re Icey Airns of MqiDA l. To develop tlie capacity of woinen frorn disadvantaged ui'ban and i-ural coinLnunities to tackle inequalities affectiiig thein. 2. To advance woineii's eqiial?ty aiid p81.1icipatioii in all aspects of policy aiid decision inakiiig. 3. To provide leadei'sliip, infi'ash-uctural suppoTI and advocacy widiiD tlie woinen's sectOTlinoveinent. 4. To strengtlien the caplL city of WIiDA to carry out its i'0Se effectively.
Women's Resource nd Develo Com an Lin]ited ment A enL ort ot. the Tj'ustees for tlie Year Ended 31 Marcli 2024 OBJECTIVES IIND ACTtVITIES Key Activities of the Oi'gq¥ nisation The followiiig are tlie key activities of WRDA.. Empowerment and Taclding Inequalities: l. Coi)lliiiiiiity Facilitator Pi.0.a1]lme Level 3 delivered iii Colei'aiiie witli l O woiiieii coiiipletiiig. 2. colNi1]lity Facilitator FoFiltn 12 woineii coTnpleted i'efi'esher ti-aining and upskilling. 3. Coimnuiiity C<iinpa1IeI'S Course Level 3 witli 27 woinen completiiig. 4. Woiiieii in Leadei-ship Colli-se Level 3 with 21 woinen coiiipleling. 5. MateiT)al Advocacy & Suppuit PTogi"amme Level 3 ivith 12 women completing. 6. Raise Yoiii. Voice workshops x 20 witli 520 people completing. 7. Goals traiiiing x l O with 120 woinen coiiipletiiig. 8. WRDA delivered 154 Breast Cervical & Bowel (BC&B} sessioIis to 1,589 participaiits. 9. Deliveiy of108 bespoke BC&B sessions to 1,081 pai'ticipants witli Additional Siippoit Needs (ASN). 10. Vii'tual <iiid iii pei'soii alleiidaiice at 170+ jiifoi-niatioiVeveiits/heciltli days. I l. One Iinpact Analysis report pi'odiiced based on BC&B parlicipaiit data for Year Nine. Policy & Advocacy Siipport: 1. 86 briefiiigs, bespoke reports and letlei's piiblished froin WRDA and Woiiien's Policy Groiip (WPG). 2. WRDA continiied to pi'ovide geci'etai-iat to WPG and i'esponded to 58 COiiSLiltatioiis and evideiice siibinissions. 3. W]iDA coiitiniied to providc represciitalio)i oil goverrniieiit & CoiilliiLinity aiid Voluntary Sectoi. (CVS) boaids aiid paittierships cind atteiided 80+ policy foi'a meetings. 4. Lobbyiiig and policy work continiied for tlie Cliildcai'e for All Cainpaign with tbe Cliildcare All Party Groiip (APG) 5. New cainpa1] Eauncl)ed and developed titled 'Wheie's OLlI- Deinoci-acy,. Leadersliip and Infrastructure Support: WRDA continued to pi'ovide information c111d siipport as a meinbei'ship oiganisalion tliroiigh Woi]]enslink (Ineinbei'ship 180+), website aiid social iiiedia platfoiiiis ciiid hosted 16 ineinbersliip and iiiforinatioti cvents. I. WRDA nianaged the coiiimunications of Woinen's Regional Consoitilini (WRC). 2. WRDA is the i'epresentative of the woinen'.g sectoi- oi) tlie Joiiit ForLlIn. 3. MAS-Maternal Advocacy & Support Pi'oject siipported 146 woiiien across eiglit woineii's centres. 4. MAS-Maternal Advocacy & Suppoi-t Pi'oject secuie(1 £500,000 fi-oiii CFNI foi- (Tr ftiitliei. 3 yeai's 5. MAS-Matei'Lial Advocacy & Siipport Project seciired £90,000 fi'oin Pilgiini Triist to work with Yoiiiig Muin's in Atlas & Ballybeeii Woinen's Centi-cs over the next 3 years 6. WRDA coiitiiiiies to woik iii paiknieiship witli Woiiien's Suppoi-t Network (WSN), Reclaiiii the Agenda (RTA) and Noitliein Ii'eland Riii-al Woinen'8 Netwoi'k (NIRWN) to delivei. tlie Raise Yoiii- Voice pioject, lackliiig sexiial liarassinent iii ColnU]iltieS aci'oss NI. 7. In partnei'sl)ip willi WSN, NIRWN and RTA £1.3in secured froiii UK Shai'ed Pi'osperity Fiind, oul. Woincn Bi-eaking Baii-iei's-(WBB) pi'oject SLiccessfiilly coiiipleted Yeai. l and exceeded set tai'gets and outcoines. 8. In paitnei'sliip willi WSN, Wonien's Pl¢1tfoi'm and NIRWN siiccessfiilly delivered Yecil. 2 Woiiien's Spcices Projecl.
Women's Resoui'Le nd Develo Com Limited ment A enc ort ot. the Trustees for the Year Ei nded 31 M21'ch 2024 OBJECTIVES AND ACTIVITIES WRDA ooi)liniied to engage ivilh the Nvoinen's sector & civic society tl]rough NIWRN, Woiiien's Plic tfonn, WSN, RTA, HERe Nl, Alliance for Clioice (AFC), NI Woiiien's Budget GL'OUP (NIWBG), Yoiitli Action, Equality c.oalitioii, Huinaii Riglits Consorliuiii, Eqliality & Human 'g1]tS Coirnnissioiis. Piiblie benefit Tlie tt'uslees coiifinn tliat they Iiave had diie regai'd to gLiidaiice produced by tlie Coininission regardiiig Public benefit. Directoi's The following constitLlted the directors of WRDA as of 31 Marcli 2024- Robyii Scott (Cliall.) Caoii)Ilie Ni Dlioiiaill (Deputy Chair) Karen 1]iSti.0ng (Ti'easui"eL) Eileeii Weil. (Secrelaiy) Anlle O'Reilly Alexandia Mccllrry Graii]ne Miickel LoLiise Mclceown Michelle McLaiighliii Sophie Meuwisseii Catherine Minfoid
Women's ResourLe and Develo CDn] Limited Enent A enc oi-t ol. the Trustees foi. the Ye¥l1' Ended 31 Mai-Lh 2024 ACHIEVEMENT AND PERFORTrIANCLI Organisational Development: I. WRDA coiidLlCted a Board Skills Aiidit soine years ago wbicli ideiitified gaps wliicli has eiilc bled a inore sti'ategic and fociissed i'eciiiihiieiit aid i-esulli)Ig iii foul- iiew Dii-ectoi's joiniiig the Boai'd Decenibei 2023. 2. New WRDA Dii'ectoi's iindei-go indiiction ITaining to brief tliein oil roles & i'esponsibilities c111d tlieii. legal obligati0118 uiidei. cliarity and coinpany law, the Maiiageinent CoiTllniltee aiid Ilic dccisioii-iiiakiiig pi-ocesses, tlie strategic & opei-alioiial plaiming pi-ocesses, tlie oi-gaiiisational stTUCtui-e and key oi-ganisational activities. 3. A goveiiiance woi'ksliop lield for new & existing Boai-d ineinbei's in Febriiary 2024. 4. AII WRDA Dii'ectoi's ale pi'ovided with copies of the Goveriiaiice Maiiiial whicli iiiclu(les, Meinoraiiduin & Aiticles of Association, Strategic Plan, Role Desciiptions of Executive Officei's & Directors aiid all staff desciiptioiis. 5. Sh'ategic Development day Iield Septeiiibei. 2023 with all staff and MC inembei-5 facilitated by an extei-nal consultant and reviewed the Stl'cltegic Plan 2020-2025. 6. WRDA contiiiiied to arniiially review its meiiibei'sliip, i'isk register and fmndraisiiig sti'ategy. 7. AII WRDA Dii-ectoi's give of tlieii- titne fieely and iio Dii-ectoi- i'eceived i'einunei'ation in the year. 8. WRDA lias adapted tlie Natioiial Joiiit Couiicil (NJC) pay scales for its iise foi- Inaiiy yeai-s followiiig ali independeiit job & salary evaliiation. 9. WRDA uses Loillmissioned independent evaluation report5 and intei'nal iiionitoring ¥epoitts as ineasiires to assess tlie success of all woi-k stt-eanis. I O. WRDA hosted four Placeinent Students fi'oin Queens University and Ulstei" Uiiiversity diiring 2023124. I l. By providing placeineiit opportLinilies foi. students 1IIiDA creates a path iiito tlie sectoi. foi. talented woiiien right at the start of tlieii. cai-eers (or ivlien tliey are tl]inkiiig of a cai'eer change iii the ca8e of iiiature stiideiits)- 12. To ensure woi-king class woinen can avail of oiii. plaoeinent oppoitunities WRDA covers luiicli aiid tric vel costs foi. Placeineiit Students. Wc also offei- liybi'id placeiiients to ensure tlie pai'ticipatioii of disabled woineii and as pait of our coillmithiieiit to woi'k i'egionally to advanoe woJnen's eqLiality and paiticipation in society. 13. WRDA celebi-ated its 40tlI arlliivei'sclry in Novembei. 202.3 and engaged in cl rebrc1nding process based oil its history, Inissioii and ineiiibei's wliicli i'esiilted in a new logo cind colour palette. 14. WRDA inai-ked its 40111 annivei'sai-y by pi'oducing a video wliicli dociiinents oui. histoi'y wit21 coiiti'ibulioiis fi-om eight won)en wlio have Iiad a Jnajoi. impact on tlie developinent of WRDA diii'iiig the last 40 yeai's. FINANCIAL REVIEW iinancial Position The detP£iled fiiiaiicial resiilts for tlie year elided 31 Mai'cli 2024 are sliown on Pciges 14 and 15 to the fiiiaiicial stateinents which accoinpany tliis i'epoit. In suirnnary iiicoiniiig resoiii-ces were £1,115,189, an increase of £436,056 on the pi-evious yeai.. Total i'esoui'ces expended increased by £238,575 10 £1,111,372 foi. the yeai. There Wc1S a reinec28ureiiient loss on peiision plan. This i'esulted in a net Siitplus position of £3,817 for tlie yeai elided 31 Mai'ch 2024.
Women's Resoiirce and Develo Limited meiit A enc ort ol. the Ti-u5tees for the Year Ended 31 Mai-cli 2024 FINANCIAL REVtEW Re5ei'ves Policy Woinen's Resoiirce and Developinent Age]Jcy Coinpany Lunited inaintaiiis a prLideiit level of reserves to eiiable Ilie oi-gaiiisation to maiiage fiiiancial i'isk aiid deliiiei- oil oui. coiiunitineiils. The objective is tliat tl)e Oi'giinisation would be able to caiTy on its work, even if faced witli a coiiibination of difficLIIt circumstances, aiid have the tiine to adjiist its strategy to ineet these cliangiiig CiTciiinstaiiLes. Tlie ieseives policy is set tliei'efoi-e to eiisLire tliat there is no disrLiplioii lo the services at sliort iiotice, diie to a lack of fuiids, an iiiiforeseen rediietion iii iiicoine or 8n inci'ea8e in expendiluie, wliile at the same tiine ensLiiing that i-eserves al'e no higher Iliaii necessai-y aiid uot i'etaiiied loiigei. tlian requii'ed. This gives tllne in the event of a drop in fundiiig, to seek altei'native fiiiids, restructtii'e and ciit costs, wliilsl conliniiing to pi'ovide CLIITeLIt seivices. Tlie charity's l)olicy is to i'etaiii a level of free reserves, Nvhicli nialches the needs of the Oiganisation, both at tlie CiiiTeiit ti)ne aiid in the forLseeable ftItLire. Tbe ieseives ieqiiired sboiild be siifficieiit to ineet coiiunitted grant expendittire, pcrsonnel aiid overheads foi. a period eqiiiv8leiit lo six inonlhs 8nnL181 expenditLire. The chai'ily will continiie to inonitoi. coiiipliance witli tliis policy on a i'egLilai- basis and tlie Board ivill i'eview tlie ¢ PPI'opI'iateiiess of Ilie policy ailliually.
Women's Resoiii'Le and Develo Com an LimitLd tnent A enc ort ok. the Ti'ustees 'or the Yeai. Ended 31 reh 2024 41NANCIAL REI VIE( W Princip¢ql Rislcs & Uncertainties Rislc Policy and Internal Coiiti-ol Fi-amewoi'k Woiiieii's Resoiirce aiid Developiiieiit Ageiicy Coinpci Iiy Liinited has est£iblished 1£ coiiipieheiisive i'isk iiiaiiageinent pi'ocess, wliicli seeks to eiisiire tliat tlie oigaiiisation iiianages and iiiitigates iisk iii lille witli Ilie agi'eed i-isk appetite of tlie Organiqation. I"he Risk Analysis Matrix is i-eglilai-ly i'eviewed and tlioi-oiighly assesses at vai'ioiis levels in tlie Orgaiiisation and t1( kes account of iiiiceitainty, tlie nattire of that iincerlaiiity aiid how it can be addressed. Having priiiiaiy i'esponsibility foi. risk iiiaiiageineiit, tlie Board regiilarly coiisidei- the inain sti'ategic, biisiness and operational risk8 facing the Oi"ganisation. The Dii'ectoi's confirin effective controls and repoiting systeins al-e in plabe to lesseii these i-isks.. The pi'incipal risks and uncertaintie5 faci]]g Woiiien's Resoiii-ce aiid Developiiient Agency Coinpaiiy Liiiiited are as follows.. Financial Stability: The principal financial cl)allenges facing tlie Olganisation al'e in the aieas of incoine generation. Woinen's Resoiirce aiid Deiielopinent Agency Coinpic iiy Limited is entirely reliant on thc goodwill of GoveiThnental, Televant partner agencies and the public. The trustees are acutely aware of tlie significant finaiicial and otlier challenges that lie ahead foi. the Oi'gaiiisation and the people it siippoi'ts. The fLiiidiaising environnient i'eiiiains very cliallengiiig, Iinceitain fiiiiding and soine projects continiiing lo be 2( t risk of slioit-terni fiinding, continiies to inake future plamiing extreinely difficult. T]ie ii]unediate clialleiige is lo secui'e funding from i'elevaiit partner agencies that will sustain projects and posts into tlie ftittire. The Orgatiisation will also be woiking lo Tediice and control costs by ensui'ing tliat its pi'ocesses are and procedui'es get tlie best valiie foi money in all expenditure. Increasingly) to deliveT piiblic sei'vices tliei'e is a i-eqiiirement lo entci. iiilo tlie tendeTing proLess which necessitates tlie need lo be fully prepared for the potential cliallenges wliicli lie aliead. Governance and Management: Woinen's Resoui'ce and Developineiit Ageiicy Coinpaiiy Lijnited has govei'iiaiice structtii'es and procedLires iii place to ensui-e appi-opi'iate decision-iiiaking aiid impleiiieiitdtion. As tlie extei-nal environiiient iiici'easingly changes, any orgaiiisational chaiige initiatives and projects are ievieHied I'egiilarly by 8enioT manageinenl and the Boai'd lias sti-uctured oversiglit of opeiatioiis and i-egiilarly ieviews i'isk. Woineii's Resoiirce aiid Developiiient Ageiicy Company Liiiiiled staff ineiiibers al'e tlie key lo siiccess and tlie Orgaiiisation prioiitises building strong ielationsliips with staff by ensui'iiig regulai perforniance niic nageiiient and continiiing staff developinent h'auling. Operational: Tlie i)ei-SODal seciirity of staff aiid safety of beiieficiaries is Woiiieii's Resoiii'ce 1( nd Developinent Agency Coinpaiiy Limited lllgliest pi'iority. The Org1( Iiisation 111( s comi)i'eh¢nsive policies to ensiire tliat tliis i'isk is appi'opriately Iiianaged siich as adhei'ence to Data Protection, 1-Ieallli & Safety, c211d Pi-otection frojii Abiise Policies, Lone Woi-king aii'angeiiients and pioceduies <l1'e in place to safeguai'd adiilts iii tlie delivei-y of its services.
Women'5 Resoui'ce nd Develo Limited Tnent A enc ort of the Ti-IIstees for Ihe Year Ended 31 Mai'eli 2024 FINANCIAL RENryEW Information Security and Continuity Al all liiiies Woiiien's Resoiii-ce aiid Developineiit Ageiicy Conipany Liinited stt.ives to ensure tliat it operates a secLire enviTOtlliient in relation to data secui'ity. Il is dependent on IT and cominunication systems For processing aiid storing its data. To preveiit disi-LlPtion to opeialions due to daLiiage to systeins or iinautliorised access to data Woiiien's Resource and Developiiienl Agency Coinpciny Liinited lias developed robust inforniation secui'ity and data i-ecoveiry measuies. Compliance and Regulation: Significant daiiiage lo Woinen's ResourLe and Developinent Agency Coinpany Liniited reputation could be caused due to non-coinplianee with laws, i'egiilations oi" codes of best pi'actice. Wonien's Resource and Developineiit Ageiicy CoiiipaDy Liinited iinpleine]]ts well-establislied policies aDd procedui'es and adbei'es to tlie sectoi s iecoiiuiieDded codes of praclice (sucli as Stateiiieiil of Recoiiuiieiided Practice SORP) to eiibure coiiipliance with appliLable I'egiilatoi'y and legal standai'ds. Environmental nd External Rislcs: Women's Resoiik'ce and Developinent Agency Coiiipany Liniited inonitors the exteE'nal envirotllllent in OTdeL lo aiitlClP2¢ te politlCÉ11, Socilc l or econornic risks, so that plcins can be piit in plÉlce to ininiinise any negative iinpact on orga?iisatioiial activities or tlie repiitatioii of the Orgallisation. It lias i'obusl procediires to assess clnd iinpleiiielit effective measlires to recliice the likelihood and the potential iinpacl of risks occiii'i'ing. Woinen's Resource and Developinent Agency Coinpany Liinited bas confidence in tlie need for its siipporl services, tlie effectiveiiess in tlieir appi'oacli a11d Ilie backii)g of their partnei's and it will endeavoiii- to iiiake every effort lo continue to pi'ovide sustainc1ble, responsive, liigli quality and effective services that n]eet the needs of theiT beiieFIciciries. The Oi'ganisation will continiie to negotiate with govei'nment deparhnents to exteiid tIiciT coIilliiiliiient to eiisure tliat ils core work can effectively continiie and secure the siistaiiiability of all its pi-ojects. STRUCTURE, GOVERNANCE 2iND MANAGEMENT Goiiei'ning DociimL>nl' The charity is coiitt'olled by ils governing docuiiienl, a deed of trLlSt, and constitutes a liiniled coinpany, liinited by giiaraiilee, as defm¥d by tbe Coiiiplc iiies Act 2006. Charity Constitution Women's Resoui'ce aiid Development Agency Coinpaiiy Liinited is a i-egistered charity with HMRC, iiiimber XR 94553. It is also regrisleied witli Tlie Cliarity Coiiunission foi Nortliei'ii trelatLd, i'egistralion nuinber NIC100149. Govei'nance of the CR)ai'ity The Maiiageiiiellt Con]niittee of WRDA ineets approximately evely 6 weeks. Il is responsible foi- the strategic dii'ection of the Oiganisation and ovei'sees tlie Iiianageineiit of the Oi"ganisatioii. The day-to-day manageinent and 01)eratioii of tlie activities are CaiTied oiit by a staff team, led by the Dll'ectoi. and the Senioi. MaiiageLllellt Teani, who also i'eport regiilai-ly to the Board. Directoi's arc appointed accoi'ding to Ilie specific skills requii'ed by the Oi'ganisation to fiilfil its i'esponsibilities as outlined in its Sttategic Plan and al-e i-atified on a yeai'ly bi£ sis at the AGM. Rel&qted Pai'ties The following is a related party lo the Woinen's Resource and Developmeiil Ageiicy Coinpdny Liinited.. CoiThniinity DiTect Ltd
WomLin's Resource and Develo Com an Limited ment A enc oi't of the Triistee5 foi. the Year Ended 31 March 2024 STATEMENT ofi TIIUSTEES, RESPONSIBELITIES Tlie ti-ustees (wlio at-e also tlie Dii'ectoi's of Woiiien's Resoiii'ce aiid Developinent Agency Coiiipaiiy Liii)ited for Ihe pui'poses of coiiipaiiy law) al'e responsible foi. prepariiig the Rei)oLt of tlie Ti'iistees and tlie fii)aiicial stateineiits iii accordance witli c2pplicable law and United Kingdoin Accoiiiitiiig Siaiidai-ds (United Kiiigdoin Geiieially Accepted Accounting Pi-actice) incliidiiig Fiiiaiicial Repoiting Standard 102 'Tlie Fiiiai)cial Reporting Standard applicable in tlie UK and Repiiblic of Ireland" Coinpany law i'eqiiires tlie trustees to pi'epare financi¢11 statements foi. eacli fiiiancial year wliicli give a hiie and fail. view of tlie state of affall-s of the charitable coinpany and of tlie incoming A'esoiirces and application of iesources, including the incoine and expendituie, of the charitable compÉ1ny foi. tliat pei'iod. lil pi-epariiig those finaiicial stateiiieiits, tlie tiiistees are reqiiii'ed to.. select suitable accounting policies and then apply thein consistently. observe the inethods aiid principles in tlie Charity SORP. iiiake judgeineiits and estiirjates that are reasonable aiid priident- pi-epai'e the financial slaleinents on the going concein basis iinless it is inappi-opi'iate to piesuine that tlie cliaiitable coinpaiiy will coiitiiiiie iii biisiiiess. The ti'iistees al'e responsible foi. keeping pi'opei. accountiiig i-ecoi'ds whicli disclose witli I'easonable accLiiacy at any liine t'he financial position of tbe charitable coinpany and to enable tliem to ensure Ihat tlie finc111cial stateinents coinply witli the Companies Act 2006. They are also i'esponsible for safeguai'ding the assets of tlie chai'itable coinpany and heiice foi- takiiig i'easonable steps foi- tlie PL'eventio)i aiid detection of fralid aiid otliei. irregularities. In so far as tlie trLiStees are (iwaie.. there is iio relevaiit (iiidit infonnLilioii of whicli the oliaritable coinp1c DY'S aiiditoi's are iiiiawaie,. and the tTUStees Iiave taken all steps tliat they ought to have taken to inake tlieinselves awcire OF any relevant audit iiifoi-lnation and to establish that the auditoi's ale awai'e of Ihat iiifoi-iiiatioii. AUDITORS Tlie aiiditoi-s, Lynn Drake & Co Ltd, will be pi-oposed for re-appoiiitinent at tlie forlhcoiiiing Annual Geiieral Meeting. Tliis iepoi'l has beeii pTepared in accoi'dance witli tlie special pi-ovisions of Part 15 of tlie Coinpanies Act 2006 relating to sinall cotnpaiiies. Appi'oved by order of tlie Board of TrLlStees on l Aiigiist 2024 aiid si]ed on its belialf by: Eileeii Weir - Seoielai'y
oi't of the Inde endent Auditors to the Trustees #nd Members or Women's Resource and Develo ment A Com Liniited Opinion We have aiidited Ilie fu]aiicial statements of Woineii's Resoui-ce and Developiiienl Agency Coinpany Liniited (Ilic 'cliaritable coinpaiiy,) for the year euded 31 Marcli 2024 which coinprise the Statement of Financial Activities, tlie Stateiiient ot Finaiicial Positioii, the Stateiiieijt of Casli Flows and iiotes to tlie finaiicial stilteineiits, incliidiiig a suinmary of Si71fiCallt accouiiting policies. Tlie financial reporting fr1£ iiiework that lias becn applied in tlieii- preparation is applicable law aiid Uiiited Kingdoiii Accoiinting Standards (United I(i?Igdoir) Generally Accepted Accounting Pr1< clice), ijicllidiiig Financial Repoi-tiiig Staiidai'd 102 'The Fiiiancial Reporting Staiidard applicable in the UK and Republic of Ireland,. In oiir opiiiioii tlie financial stateinenls.. give a ttue and fall. view of tlie slate of tlie cliaritable conipany'g affau's as at 31 March 2024 and of its iiicoining resoiirces and application of resoiirces, includiiig its income aiid expeiidittire, for the yeai- tbeii eiided. liave been piopei'ly prepared in accordance witli United Kingdoiii Genei'ally Accepted Accounting Practice, including Finaiicial Repoi-ling StandEJrd 102 'Tlie Financial Reporting Standard applicable in the UK and Republic of h'eland,; É1nd haire beeii pi'epared iii accoi'daiice witli the reqiiiremeiits of the Coinpanies Act 2006. Basis foi. opinion We coi)diicled oiii. aiidit in accordance with Inteinaliollal Standards on Aiidiling (UK} (ISAS (UK)) and api)licable law. Oui. i'esponsibilities Linder tliose standards ale ftiitlier desci'ibed in the Auditoi's, responsibilities foi the audit of the finaiicial stiTrtemeiils sectioii of OLli ieport. We ale uidependeiit of Ilie charitable coinp1É ny in accoi-dance with tlie etbical requiTeLneiits that are i-elevaiit to oui. audit of Ilie finaiicial statements in tlie UK, including tlie FRC'S Etliieal Standard, and Ilie pi'ovisions available foi- SiT)all eiitities, in the cii-cuinstances set out iii iiote 18 to tlie fii)ancial stateineiits, aiid we hlive fulfilled OLir olliei. ethical reqpoiisibililies in accordance willi these i'equireineiils. We believe tliat Ilie audit evideiice we liave obtaincd is sufficient and appi'opriate to provide a b8sis for oiir opinioii. Conclusions i-elating to going concern In auditing the financial stateiiieiits, we have concluded tliat the tnistees, use OF the going concern basis of accoLinliiig in tlie prepai-alioii of the financi(il stateiiieIits is appi-opi-iate. Based oil tlie woi'k we Iiave pei'foniied, we have not ideiilified any Jnaterial Liiicertaiiities relatllig to eveiits or coiiditions tliat, iiidividiially oi. collectively, iiiay cast SIllfIcant doiibl on tlie chai'itable coinpaiiy's ¢ibility to continue as a going concein for a period of at least twelve Inontlis from wheii tlie financial stateinents are aullioiised foi. issue. Oiii- i"esponsibilities aiid tlie i'esponsibilities of Ilie trustees witli i'espect lo going concern are described in tlie relevant sectioEis of ibis i'eport. io
oi't of the Inde endent Aiiditoi's to the Trijstees and Menibei's of Women's Resoul'ce and Develo ment A Com an LiTnited Otliei" intormsgtioii Tlie ti-ustees al'e respoiisible for tlie otliei- iiifonnatioii. The otliei. infoiiiiatioii coiiipi-ises the iiifonnation included iii tlie Ai)ilLial Repoi't, otliei tlian tlie fiiiancial slateineiits aiid Oill. Repolt of the Indepeiident Auditors thereon. Oiir 01)inioii oil tlie financial slateiiients does not cover tlie otliei. iiifoi'inatioii and, except to tlie extent oiliei'wise explicitly stated sn oui repoi"I, we do not express any forin of assurance concliision thereoii. ln coilliection with oui. aLidit of tlie financial slateiiients, our i'esponsibility is lo read the otliei. iiifoi-iiiation and. in doing so, consider wliethei- the otliei- infoii]iatioii is maleiially incoiisistent with tlie financial statenients or oui- ktiowledge obtained iii tlie aiidil or othei-wise appears to be Jnateril< Ily iiiisslated. If we identify siich iiiaterial inconsisteiicies or appai'ent inatei-ial iiiisstateinents, we are i'eqiiii'ed to detennine wlietlier tlus glves i'ise to a matei'ial niis.glateinent in the financial statements tlieinselves. If, based on die work we Iiave pei'foi'iiied, we concliide tliat tlittie is a mateiial niisstatement of tliis other infoirnation, we are ieqiiii-ed to i'epoit Iliat fact. We Iiave nothing to repoit in tliis regard. OpiDions on other Tnatters prescribed by the Cotnpanies Act 2006 Iii oui opiiiioii, based oil the woi'k uiidei'takeii lll tlie coiirse of the aiidit.. the infoiinalion given in tlie Report of tlie Tiiistees for th¢ financial year for wl]ich Ilie fiiiancial statemeiits ai'e pi-epai'ed is consisteiit with tlie financial stateiiien15' and the Repolt of tlie TrLlStees lias beeii prepai'ed in 1( ccoid1c nce with 12pplicable legal i'eqiiii'emeiits. Matters on which Ive al'e required to report by exception Iii tlie liglit of tlie l(nowledge and uiidei-staiiding of the cliaritable coinpaiiy and its eiiviroiunent obtained in the coui'se of the audit, we have not identified iiiaterial iiiisstaleiiients in tlie Report of the Ti'iistees. We Iiave nothing to report in i'espect of tlie follomijiig mattel's whei-e the Coinpanies Act 2006 reoiiires us to report to siou if, in oiii. opii]ion'. adequate accoiinting records have not beeii kept oi. retui'lls adequate for our aiidit h1( ve not been received fi'oiii bl-anches iiot visited by lis. or tlie fiiiancial slateinenls are nol in agreeinent with the accoiinting recoi-ds and i-ettirns,. or cei'lain disclosures of h'ustees, reiniiiieratioii specified by l<iW are not Inade. or we Iiave iiot received all tlie infoiinalioii and explanatioiis we i-equii'e foi. oui. aiidit; or tlie trLlStees were not eiititled to take advant(ige of the small coinpciiiies exeillption fi-oin tlie i-eqiiii'emeiit to prepai'e a StrateC RepoTI or iii preparing the Repoit of the TrLlStees. Responsibilities of trustees As explaiiied iiioie ftilly iii tlie Stateineiit of Triislees, Responsibilities, the ti-listees (Ivho are also the direotors of the charitable coiiipaiiy for the piirposes of coinpaiiy law) al-e iesponsible foi. the pi'epai'ation ofthe fiiiaiiLial slateinents and foi. being satisfied that they give a true and fail. vie¥v, and foi such intein<il conh-ol as tlie h-LlStees deterinine is iiecessary to eiiable the preparatioii of fiiic1ncial slatejnents tliat are free froin inaterial Inisstateinent, whetbei. due to fraud or ei'ror. In pi-epaiing tlie financial stateinents, the ti'ustees al'e J'esponsible foi- assessing tlie chaiilable coinp<lny'S ability to contiiiiie as a goiiig coiiceni, disclosing, as applicable, Inatters i'elated lo goiiig concerii c1nd u,8iiig tlie goiiig concern basis of accountiiig iinless tlie ti'iistees eitliei- intend to liquidate tlie cliaritable coiiipany or to cease operations, oi- have no i'ealistic altei-native bLlt to do so.
oi't of the Iiide endent Auditoi-s to the Trustees and Mefflbers of WomLn's Resource and DLvelo ment A enc Com an Limited Our responsibilities for tl)e audit of the fin41ncial statenieilts Our objectives are lo obtain i'easonable assurance about wliethei the fLDallcial stateinents as a wliole are free fi'oni Inaterial Inisstateiiient, wl)ellier due lo fi'aiid or ei'roi-, and to issiie a Repoit of tlie Independent Audiloi's tlial ii)cludes oui. opiiiioii. Reasonable as.%iiraiice ig a high level of cissuraiice, but is Iiot a gLiarantee that an aiidit coiiducted iii accoidaiice witli ISAS (UK) will alNvays detect a Lll£ltei'ial iiiisstateineiil whell Il exists. Misslateineiits Can ai-ise fi-oni fi'aiid oi- ei-i-oi. aiicl al'e considei-ed nialei'i81 if, individually or iii tlie aggi'egale, they could ieasonably be expecled lo iiiflLience the economic decisions of users taken oil the basis of these fiiiaiicial stlc teineiits. The exteiit lo wl]icli oui. procedLii'e8 are capable of detecting iiTegLilarities, inclucling fraud is detailed below: [egULa17t1es, incliidiiig fraud, are instaiices of iion-compliance with laws aiid i'egLilations. We design procedLires in line with oui. responsibilities, oiitlined above, to detect material niisstateiiients in respect of irregtslai-ities, inclLiding h'aud. In paiticulai, we looked at wliei'e manageiiieiit iiiade subjective jiidgeinents, for exaini)le iii respect ot accoiiiiti11g esliinate% that involved making assumptlolls aiid coiisidering fLittii'e events Iliat al'e ii]hei'eiitly uiicertain. We al80 considered potential finaiicial oi- other pi'essiiies, oppoitlinity and Inolivations foi- fi'aiid. As pai't of this discussion, we identified tlie internal controls established to iiiitigate risks i-elaled lo fi'aud oi. iioii-coinpliaiice witli lawg aiid i-egiilations aiid bow ina111< gemeiit inoiiitoi. these processes. Appi'opriale procediii'es incliided the i'eview and lestiiigy of manual journals aiid Icey estiiiiates and judgemeiits Inade by inanagenient foi. i-isk of fi-aud. Based on our underslaiidiLig of the coiiipany aDd industi-y, we ideiitiFied the pi'incipal i'isks of non-compliance with laws and i-egulations as those that have a dii'ect iiiipact on the deterininatioii of iiiaterial ainounls and disolosures iii the fiiiancial st1( teinents. We evaluated iiiaiiageiiient's iiicentives and oppoitlinities foi- fraudiilent Inaiiipiilation of tlie finaiicial slateiiieiits and identified the gi-eatest potential for fi'aud. We LOiTllnunic<lted the identified laws and i'egulations thi'oLiglioLlt tlie audit teaLlI and i'eiiiailled alert to any indiccltions ot iion-coiiipli<ince tl]roiighoul the aiidit. Audit proceduies pei-foimed included, bul wei'e not liiiiited to.. Discussions willi ITJanageinenl inclLidiiig consideration of knowii or siispected instances of iioii-coiiipliaiice witli laws aiid regiilcqtioii aJ]d fraiid. Reviewing tlie Finaiicial statement disclosures and testing to siipporting docLimentation,' Review OF boai-d ineeliiig niiiiiites of Iliose cliai'ged witb governaiice,. i acldTessiiig th¢ risk of fi'aiid tliroiigh inanilgeineiit override of controls, testiiig thc appropTiateJiess of joiiriial eiitt'ies aiid otliei. adjiishnenls. As parl of an aiidit 111 É1CCOI-daiice with ISAS (UK), we exerciqe professioiial Jildnent and maintaiii pi'ofessioiial scepticisin throughoiit the c111dil. We also'.- Identify and assess tlie i'isks of niateL'ial inisstateinent of the financial stateinenls, wliether due to fraud or eii-or, desi] and perfoiin aiidit procedures i-esponsive to those risks, aiid obtain 1< Lidit evideiice that is sufficient and appi'opiiale lo provide a basis for our opiiiioii. The i'isk of not delectiiig a inaterial inisstateineiil i'¢siilling fi-om fraiid is liighei. tl)an foi- oiie i'esLilting froill ei-i'or, as fi-aud may involve colliision, forgery, intentional 011118sions, iiiisi-epLesentalioiis, oi. tLie ovei'iide of intei'nal control. Obiaiii an undei-staiidiiig of inlei'nal control i'elevaiit to the aiidil in oi'dei. to design audit procedLires tliat al-e appi'opi-iate in tlie circiiinstances, but not foi- tlie pui'pose of expressing an opinion on tlie effectivei)ess of the ch£iiilies iiiteriial control. 12
oi't ol- the Inde endent Auditoi's to the Ti'iistees and Menibers ol. WomLsn's Resoui"ce and DLvelo ment A enL Com Limited an Evaliiate tlie appi'opl-iateiiess of IlCCOUlltiiig policies Lised and tlie i'Cc1sonableness of accoiintuig cstiinate,g aiid Telated disclosui'es inade by tlie ti'ustees. Perfomi analytical pi-ocedLlI'es to identify any iinusual oi. unexpected i'elatioiisliips that inay iiidicate risks of Inaterial inisstateineiit dlie to fraud or en'oi.. Conclude on tlie appropi-iateiiess of tlie triistees, iise of tlie going conceTn basis of iL ccoiinting aiid based on the audit evideiice obtained, whether a inaterial iiiicei'lainty exists related to eveiitf or coiiditions tliat In¢ly Cclst S111f1Ca1it doiibt oil Ilie chai-ities ability to coiitiiiue as a goiiig concerii. If we coiiclude Iliat a material unceitciinty exists, we are required to di'aw attention in oui. aLiditoi s i'eport to tlie i'elated disclosiires in tlie financial stalcinents oi., if siich disclosiiics arc inadequate, to inodify oiii. opiiiioii. Oiir coiicliisioiis al'e based oil tlie audit evidence obtained up to tlie date of oui- auditoi s i'epoi-l. FloweveT, futiii'e events oi- conditions iiiay cause tlie chai'ity to cease to continue as a going conceiii. Evaliiate the overall presentation, structui'e, and conteiit of the financial st£1teinents, incliiding tlie (lisclosiires aiid wlietlier the fiiiancial stateinents represeiit tlie iinderlying ti-ansactioiis and events iii a lila1)er tl)al achieves fail. pi-esentation. We coinmuiiicate with those charged witli governance regardiiig, among ollier iiialters, tlie plaiuied scope aiid tiining of tlie audit and significant aiidil findings, iiicliiding significant deficiencies in inteimal conti'ol tl)al we identify during oui. audit. A further description of oui. Tespoiisibilities foi. the audit of tlie finai)cial slateineiits is located on tlie Fiiiaiicial RepoTting Coiiiicil's website at www.fi.c.oig.iildauditoi-si.espoiisibilities. This desci'iplion foiins part of our RepoTt of tlie Iiidependeiit Aiiditors. Use of our report This report is inade solely to the cliaritable coinpany's members, as a body, in accoidc1nce with Chclpter 3 of Part 16 of the Compai]ies Act 2006. Oiir audit woi-k lias beeii iiiidei'laken so tliat we iniglit state to tlie cliai'itable coiiipaiiy's Ineinbei-s those iiiatteis we al-e reoiiired to state to thein iii ali aiiditOl-S' Lepoit <iiid foi- iio otlier piirpose. To the fiillesl extcjit peimitted bs, law, we do not accept or assiiine respoiisibility to anyone othei. tliaii tlie cliic ritable colnp1}iY aiid the cliaritable coinpaiiy's inembers as a body, foi. oui aiidit woj'k, for tliis repoi't, or foi. the opiiiioiis we l)aiie foiiiied. Alistair J Wells (Seiiior Statutory Aiiditor) for and on behalf of Ly]]n Drake & Co Ltd Statutoi-y Auditoi-g 1st Flooi- 34 B-D Main Street Moii'a Co. Aiinagh BT67 OLE Date.. l Aiigiist 2024 13
Womeii's Resoui'ce and Develo Com an Limited tnent A enc Statement of Financial Activities Incoi" oratin an Incon]e and Ex foi. the Year Li nded 31 I'eh 2024 enditiire Account 31.3.24 Total funds 31.3.23 Total fuiids Um'estTiCted Restt"icted fuiids funds Notes INCOME AND NDOWMEI NTS FROM Doiic1tioiis and legacies 193 193 136 Cliaritable aLtivitie5 GTallts Receivable 231,812 866,139 1,097,951 664,078 Otliei. income 16,393 652 17,045 14,919 Total 248,398 866,791 1,115,189 679,133 I XPENDITUREI ON Charitable aetivxties Direct Charitable Expeiiditt)re 133,016 898,093 1,031,109 873,885 Other 80,263 80,263 (1,088) Tot#1 213,279 898,093 1,111,372 872,797 NEI T INCOMEI l(EXPEf NDITUliE) 35,119 (31,302) 3,817 (193,664) RECONCILIATION OF FUNDS Total funds broiiglil forwaid 495,973 267,210 763,183 956,847 TO'fAL FUNDS CARJUED FORWIIRD 531,092 235,908 767,000 763,183 Tlie notes fomi pait of tliese financial statenients 14
Wonieii's Resoui"ce Anil Develo n)ent A Com an Limitecl ene St4?tement ofFinai)cial Position 31 Mal'ch 2024 31.3.24 31.3.23 Notcs FIXED ASSEI TS Taiigible assets 241,759 241,759 CURRENT ASSETS Debtoi's Casli at batik 12 62,450 583 611 56,854 504,933 646,061 561,787 CREDITORS Ainoiiiits falliiig due williln oiie year 13 (13,014) (4,200) NET CURREI IYT ASSETS 633,047 557,587 TOTAL ASSETS LESS CURRENT LIABILITIE4 S 874,806 799,346 PENSION LIABILITY (107,806) (36,163) NET ASSEITS 767 000 763,183 FUNDS Uiii'esti'icted flinds Rcsti'icted fiinds 15 531,092 235,908 495,973 267,210 TOTAL FUNDS 767,000 763,183 Tliese fiiiancial stateiiieiits have beeii pi-epai'ed in accordanc¢ witli tlie pi-ovisions applicable to cliai'itable coinpaiiies subject to tlie sinall coinpaiiies i-egiiiie. Tl]e finaiicial stateineiits were appi'oved by tlie Boat'd of Ti'iistees and alltlioi'ised for issue oil aiid wei-e sigiied on its b¢lialf by.. Lileeii Weil. Ti'LlStee Kai'eii Ai-msti-oiig - Ti'iistee Tl)e iiot¢s forin part of tliese financial stateiiieiits 15
Women's Resoui'ce and Develo Com Limited entA enc Statement of Cash Flows foi. the Ye21. Ended 31 Mai'ch 2024 31.3.24 31.3.23 Notes Cash flows from opei'ating activities Casli geiiei-ated fi'om opei-atioiis Iiitei'est paid Fii)aiice costs paid 157,478 {206,076) (175) 2,141 78,619) Net casli pi'ovided by/(used iii) opei'atiiigi activities 78,678 204,110) Change in cash and cash eqiiivalents in the i'epoi'ting pei'iod Cash anil cash eqiiivalents at the beginning of tlie i"epoi'tiiig i)eR'io(I 78,678 (204,110) 504,933 709,043 Cash and L'ash equivalents at the end of the t'ei)oR'ting pei'iod 583 611 504,933 Tlie notes foi'm pait of tlies¢ finaiicial stateineiits 16
Women's Resource and Develo Com ali Limited ment A enc Notes to the Stateinent of Cash Flows foi. the Ye2ffj r nded 31 Marcli 2024 RECONCILIATION of4 NET INCOME/(EXFENDITLtI ) TO NET CASFI FLOW FROM OPERATING ACTIVITIES 31.3.24 31.3.23 Net incomel(expenditure} I'or tlie i'eporting period (as pei. tlie Statement of Fiiianeirtql Activities) Adj ustnients loj.: Interest paid FinanLe costg Increase iii debtors liicrease iii Gi'editoi's Difference between pension cliaTge and cash Con"1bUt1ons 3,817 (193,664) 181 78,619 (5,596) 8,814 71,643 175 (2,141) (1,038) 300 9,708) Net cash pi'ovided byl(used in) operations 157,478 (206,076) IiNALYSIS OF CHANGES IN NET FUNDS At 114123 Casli flow At 3113124 Net cash Cash at bai 504,933 78,678 583,611 504,933 78,678 583,611 Total 504,933 78,678 583,611 The notes foi'jii part of tliese finaiicial statenients 17
Women's Resoui'ce and De.velo CoTn an Litnited ment A enc Notes to the Financial StatemL'nÉs A'or the YeaR' Ei nded 31 Mai'Lh 2024 ACCOUNTING POLICIES Basis of prepai'ing the fin¥1ncial statements (a) Genei'al inlormation and basis ol. preparation Woiiien's Resource and Developiiienl Agency Company Lilnited is constittited as a coinpany limited by guaraiitee iiicoi-porated iii Norilieni li'elaiid (N1022541). In the eveiil of tlie cliai'ity beiiig WOLiiid lip, tlie liability iii i'espect ot tlie guaraiitee is liiiiited to £1 per iiieliiber of Ilie cliarity. The charity constihites a public beiiefit eiitity as defuied by FRS 102. The finaiicial st1( teinents bave been prepai'ed ill accordance willi Accoiilltillg aiid Reporting by Charities.. StateLiient of Recoiiiiiiended Pi-actice applicable lo chai'ities pi'eparing Iheit accounts in accoi-ddnce witli the Financial Reporting Standard applicable in the UK and Repliblic OF Ireland issued in Octobei 2019, the Financial Repoiting Standaid applicable in the United I(iiigdoin and Repiiblic of Irel£1nd (FRS 102), tlie Cliarities Act (Northern h'elaiid) 2013, the Coiiipanies Act 2006 and UK GeiiLrally Accepted Pi'actice. Tlie fiiiaiici<il stateiiients al-e pi'epai'ed oil a goiiig coiiceni basis iiLidet' tlic IiistOl'lC<11 cost conveiilioii, iiiodified to incliide cei'lain iteins at fair value. The financial slateinents aI'e pi'eseuted in sterling wliich is Ilie tiiiictional CLiri'ency of tlie cliaiity. Tlie sigllificaiit aocuuntiiig policies 8pplied iii tlie preparation of these fiiiancial stateineiits are set out below. These policies have been consistently applied to all yeai's presented Linless otherwise slated. (b) fi unds Unrestt-icted ftinds are aviiilable foi. Iise al tlie disci'etioii of Ibe tiustees iii fui'tber1c nce of the general objectives of the chat'ity aiid whicli Ii£ive iiot becn design£tled for oth¢i' piiiyoses. Des]lated ftjnds coiiipiise unre.8liicled ftinds tliat liave been set aside by the Triistees for partioiilar purposes. The aiin nd iise of each designiated fiiiid is set out in Ilie iiotes to tlie fiiiaiicial stateiiients. Restricted fLinds <lre funds which 1( re lo be Lised in accordanbe witli specific restrictions imposed by doiiors or wbich have beeii raised by the chai.ity foi. pai'ticular piii-poses. The cost of raising akid adniiiiistering siicli funds ale cliarged agaiiist the specific ftind. The aiiii Jiid use of eacli restricted fiiiid is set out in tlie notes to the financial stateinents. Fiii-tlier explaiiatioll of the natiire and piirpose of each fuiid is included iii tlie iiotes to Ibe finaiicial staleiiients. (c) Income i'ecognition All llicoiniiig resoiirces al'e included iii the Slatemeiit of Finaiicial Activities (SOFA) when Ilie charity is legally entitled to the incoine after atLy pei'Foiinaiice condiliolls have been inet, the ainolint can be Ineasiired reliably and it is pi'obable Iliat tlit inconie will be received. 18 continued...
Women's Resource an(1 Develo Com an Limited ment A enc Notes to the FinanciAI Staten]ents - continiied I'or the Yeai. Ei nded 31 Mareli 2024 ACCOUNTING POLICIES - continiied Basis of prepai'ing the financial statetnents For doiiations to be i.ecolised llie cliarity will Iiave been notified ol tlie ainounts and tlie settleineiit date in wi'itiiig. If tliei'e al-e coiiditlolls (Trttached to Ilie doiiatioii aiid tliis i'eqiiii-es a level of pei'foi'iiiaiice before entitlernent can be obtained then inco)ne is deferfft'ed iintil tliose conditions (ire fully inct or tlie ilfilineiit of tliose coiiditioiis is witliiii tlie coiitrol of the cliai'ity and it is probabl¢ that they will be fiilfjlled. Voliiiitary iiicoine is i'eceived by way of .nts, donations and gifts and is iiicluded iii fiill iii the Stateiiient of Financial Activities (SOFA) Ivlien i'eceivable. Incoine received fi-ojn collections is recogjiised whell received. Donated facilities and donated Professional services aTe i'ecognised in incoine at their fair valiie wlien theii- econoinic benefit is pi"obable, it can be ineasured reliably and the Lhai'ity has coiiti-ol over the itein. Fair valiie is detennined oil tlie basis of the value of the gift to Ilie charity. For exainple the amount the charity woiild be williiig to pay iii the open market for such facilities and services. A COiTespoiiding ainount is i'ecognised in eKpenditui'e. No ainoiint is incliided in tlie financial stateinenls for voluiiteer tiine in liiie with the SORP (FRS 102). Further detail is given iii tlie Trustecs, Anniial Repoi't. Foi legacies, entitlemeiit is the earliei- of tlie chaiity being notified of an iinpeiiding distributioii or tlie legacy beiiig i-eceived. At tliis point incoiiie is i-ecognised. On occasion legacies will be iiotified to the cliarity Iiowever it is not possible to measiii'e the ainoiint expected to be distt'ibuted. On these occasions. the legclcy is treated as a contiiigent asset and disclosed. Incoine from h-ading activities iiicliides inooine eained froin fLindi-aising events and h'ading activities to rciise fund.8 for Ilie charity. Incoine is icceived in excliange for siipplying goods 1( nd services iii ol'der to raise funds and is recogniscd wlieii eiititleinellt has occuyi'ed. The cliclTlty receives govcrnment graiits whicli al'e detailed within tlie notes to tliese fiiiajicial statements. liiconie fi-oiii govenllneiit aiid othei- grants ale recogiised at fail valiic when the chai'ity has eiititleineiit aftei. any pei-foi'maiice Gonditions Iiave been iiiet, it is probable tliat tlie iiicoiiie will be received aiid tl)e ainoiint can be ineasiired i'eliably. If entitlement is not inet then these amoiints are clefeiTed. ivesttneiit iiicoiiie is eanied tIOLIgh Iioldiiig assets for investtiient piiiyoses siiclj as sliares and propeity. It incliides dividends, interest and rent. Whei-e it is not pi'actlClÉ ble to identify investtiieiit )nanageinent costs incLirred witliin a scheme with reasoiiable acciiracy tlie investmeiit incoine 18 I'epoited net of these costs. It is included wlien the aiiioiiiit can be ineasui-ed reliably. Interest incoi]]e is i-ecogiiised iising the effective intei-est niethod and dividend aiid l'ent iiicoine is i'ecognised as the chai'ity's right to i'eceive paymeiit is established. (d) Expenditui'e recognition All expenditiire is aGcoiinled for oil an acci'iicils basis, incliisive of VAT which cailliot be i'ecovered aiid has been classified uiider headings tliat aggi-egate all costs related to tlie categoiy. ExpeiiditLli'e is i-ecognised wheie thei-e is a legal oi. constt-lictive obligation to inake payinents to tliird pai-lics, it is probable tlicTrt the settlei7]eiit will be reqiiiied and the ainoiinl of tlie obligation Cc111 be mel( siired i'eli1c bly Cost of raising fuiids iiicliides tlic costs associated willi attracting voluntary iiicoines. 19 coiiliniied...
Women's Resoui'ce and Develo Com an Limited tnent A enc Notes to the Financial Statetnents - continiied foi. the Yeat. Ended 31 mai.eh 2024 ACCOUNTING POLICIES - continued Basis of pi'epai-ing the fJnxqncirfg1 st41tements Expendittire OD chai'itable activities iiicludes tliose costs iiicun'ed by the cliarity in tlie delivery of its activities and seivices foL' its beneficiaries. It inGliides botli costs tliat can be allocatLd dii-ectly lo siicli actiV2ties and those costs of all indirect natLire necessary to support theill. and other expeiiditure represeiits those iteins rjot falling iJ]to the categories above. Itrecoverable VAT is charged as an expense against tlie activity for which expenditure arose. Grants payable to Ihii-d paities aTe witliin the charitable objectives. Iere iincoiiditioiial grants are offei'ed, this is acLiued as soon as tlie iecipieiit is notified of the gant, as tliis gives rise to a i'easonable expectation tliat the recipient will receive the graiits. Wliere grants are conditional relating to perfomaiice theii tkne grant is only accrLied wheii aiiy Ll]]ftilfilled coiiditions are outside of the control of tlie charity. (e) Support Costs allocation Suppoit costs are tliose that assist the work of the charity bul do not directly i-epi'esent charitable activities aiid iiiclude office costs, governi¢ lice costs, administrative payroll costs. They arc illcurred directly ID suppoi-l of expeiiditLire on the objects of the chaiity aiid lliclude project nianageineiit cai-ried out al the bLisiiiess preinises. Wliei-e siippoil costs caiiiiot be directly attributed to particiilar headiiigs tliey liave beeii allocÉ1ted to cost of raisiiig fuiids ciiid expenditLire on cliaiitable activities on a basis consistent witli use of Ilie resoui'ces. Pi'eiiiises ovei-lieads Iiave beeii allocated on an insert detail basis aiid otlier overlieads liave beeii allocated on a basis coiisisteiit willi tlie iise of i-esoui'ces. Fund-raising Costs ¢ll'e those incuiTcd in seekn.ng volLinlai'y Collttibutions and do not illclude the costs of disseininating infonnation lli suppoil of tlie charitable aolivities. (D Taiigible red assets Taiigible fixed assets are stated al cost less aCCLirnulic ted depi'eciation and accumulclted impainnent losses. Cost iiicludes costs duectly attributable lo inaking the assct capable of oper'atiiig as inteiided. Depreciation is pi'ovided on all tangible fixed ssels, at rates calculated to wiite oft the cost, less estirnated residiial value, of each asset on a systeinalic basis over its expected useful life <lS follows.. Fixtures and fittings 200/. Straight Line (g) Debtoi's and ci'editors i-eceivable I payable within one yeai. Debtors and ci'editors with no sl<iled iiilei'est rate ic nd receivable oi- payable witbin oiie year are recorded at transaction price. Aiiy losses arising froin impaii'inent are reColIsed iii expendittii-e. (h) Itnpairment 20 coDtiniied...
Women's Resource iqnd Develo Coni an Lin]ited ment A enL Notes to the f4inaneial StatemL>nts continiied for the Year Ei nded 31 March 2024 ACCOUNTING POLIC'IES - continued Basis of prepai'ing tlie fjnancial statements Assets llot ineasiired at fail. value al'e ieviewed foi aiiy indicalioii that tlie asset inay bc iiiipaii-ed at eacli balance slieet dclte. If siicli indication exists, tlie recovei'able ainount of tlie asset, oi- tlie asset's casli gencratiiig iinit, is e8li)nated and coiiipared to the cari'yiiig aiiioiint. Whei'e tlie caffyiiig ainoiint exceeds its i'ecoverable ainoiinl, ali iinpaii'iiient loss is iecogiiised in pi-otit oi loss iiiiless tlie assel is carried at a ievalued aiiiolint wliere the iiiipairiiient Ioss 15 a i-evaliiatioii decrease. (i) Provisioiis Provisions al'e Tecognised when the cliarity has an obligation at tlie balance slieet date as a resiill of a past event, it is pi'obable that an outflow of econoiiiic benefits will be i'eqiiired ill settleinent aiid tlie ainoiint can be reliably estiinated. ti) Leases Asset5 acqiilled linder finance leases al'e Gapitalised and depreciated over the slioiter of the lease teirn and the expected Liseftil life of the asset. Miniinuin lease payinents ale appoilioned between tlie finance charge and tlie reduGtioll of tlie outstanding lease lilc bility using tlie eflective intei'est inetliod. Tlie related obligatioiis, net of future fiiiaiice chaiges, al'e included in ci'editors. Rentals payable and receivable under operating leases are charged to tlie SOFA on a straight line basis ovei. the period of the lease. (k) mployee benefits When employees have rendered sei'vice to the cliarity, sliort-tei-ln einployee beiiefits to which the ejnployees al'e eiititled al'e i'ecogllised al the iindiscoiiiited aiiioiint expected to be paid in exchange for tliat service. Defined contributions pension scheme Tlie chal'ity opeiates a defined collh'ibiition i)lan foi. tlie beiiefit of its e?nployees. Co)Ih'ibutions al-e expeiised Ils tliey becoine payLible. Defined benefit pension scheme The chaiity participates iii The Pensions Trust's Growtli Plaii (The Plaii). The Plaii is fuiided and is iiot contt'acted-out of the State scheme. The Growth Plan is a multi-einployer pensioii plan. Women's Resoui-ce and Developiiieiit Agency Coiiipany Liiiiited al'e unable to identify its share of the iindei-lyiiig assets Ic nd liabilities, thei'efoi'e, iii accoi'dance witli FRS 102, il lias been accoiinted for as if it 18 il defined contiibiition sclieine. Thc additioiial coiilributioiis wliich Woineii's Resoiirce aiid Developmejit Agrency Coiiipany Liiiiited ale con]niitted to pay as at 31 March 2024 have been iiicluded in tlie balance slieet. The cliaiity also i)ai'licipates in The Peiisions Trust's Noithei'ii Irelalld Cli<ll'ities Peiision Sclieine (The Sclieine). The Sclieine is ftinded and is not conli'acled-oiit of tlie State scheine. Tlie Noi'ilicrii Ireland Charitics Pension Scheine is a multi-employei- pension scheine. Woinen's Resoiii-ce and Developineiit Agency Coinpany Liiniled ai'c iinable to ideiilify ils sliare of Ilie undei'lyijig assets and liabilities, tlierefore, iii accoi'dance witli FRS 102, it has beeii 1( ccounted foi. as if it is a defiiied coiitribiitioii schciiie. The additlOll(tl contsibiitioiis wliich Woiiien's Resoui'ce aiid Developiiieiit Agency Coinpaiiy Liinited are cominitted to Pciy as at 31 Mai-ch 2024 havc beei) iiicliided in tlie biilance slieet. 21 continiied...
Wojnen's Resource and Develo Com LiJnited ment A enc Notes to the Financial Statements continiied loi. tlie Yeaj. Ended 31 March 2024 ACCOUNTING POLICIES - coiitinued Basis of prepai'ing the fin¥ryncial statements (l) Tax The coinpaiiy is registei'ed by tbe liilaiid Reveiiiie as a ch1( I'ity for laxatioii Piitposes aiid is exeinpl froin corporatioii tax on ils activities. Tlie coiiipany's preseiit activities are exeinpt for value added tax piiwoses and Lonseqiienily it is not iegistei'ed. (m) Going concern The financial stateiiients have been prepared on a going conceim basis as the trustees belieiie that no Inclterial iiiicei-laiLlties exist. Tbe tnistees Iiave considei'ed tbe level of fullds held and tlie expected level of incoiiie aiid expenditure for 12 Iiionths froni autliorisiiig tliese financial statements. The biidgeted income É1nd expenditure is sufficient witli Ilie level of i'esei-ves foi- tlie cliarity to be able to continue as a goiLig coiicern. (n) Jiidgements estimates Tlie followijig judgeinents iiicluding tliose involving estimates Iliat bcive beeti inade in Ilie process OF applying the above accoLlllting policies tliat Iiave had tlie iiiost significant etfecl oil tlie ainounls I'ecognised in the fiiiancial stateinents and tliat have ci significant risk of causii)g a inaterial adjiistment to tlie caiTying ainoiiiits of (issels aiid liabilities within the next finc111cial year.. (i) depi-eciation nietliod and asset useftil lives (ii) V£lliiation of pi'opcity (iii) priiicipal ssuniplions iised to measiire multi-etnployei. defined beiiefil pension schemes, liabilities, seiisilivities to clianges in assuimptions and fiJtLii'e funding obligations Tlie estiillates aiid 1( ssiiiiiplioiis al'e reviewed on all oiigoing basis coiisideriiig tlie curreiit aiid fllttire Inai-ket conditioiis. Related party exemption Tlie cliai-Llable coiiipany lias takeii advaiitage of exeniption, iilldeT tlie leinis of Finaiicial Reporting Standai'd 102 'Tlie Financial Reporting Staiid81'd applicable in the UK and RepLiblic of treland,, not to disclose i'elated party transaclions with wholly owned siibsidiic ries within tbe group. 22 continiied...
Women's RL&SOllI"ce and Develo Com an , Limited ment A enc Notes to the Financial Statenients continued foi. the Yeai. Kiided 31 Mareli 2024 DONATIONS AND LEGACIES 31.3.24 31.3.23 Doiiations 193 136 INCOME FROM CHARITABLEI ACTIVITIE4 S 31.3.24 31.3.23 Activity GTants Receiv¢1ble GTants 1,097,951 664,078 Graiits received, iiicluded iii tlie above, are as follows.. 31.3.24 31.3.23 Depai'tment Df Health Core Funding Piiblic Healtli Agency.. Seivice Level A'eeleI1t DFC.. Regioi)al Siipport for Woinen in Disadiiaiitaged Ilnd Rui'al 17,202 209,722 34,403 209,722 58,185 50,000 62,037 30,149 Belfast City Coiincil Capacity Buildiiig National Lottery CoiThniinity Fund.. People and Co]nU1}itieS Progi'ainme.. MAS Project - Maternal Advocacy and Suppoi't UK Coiiuiiiiiiity Renewal Fiind Belfast City Coiincil- R8ise I'oiii- Voice Josepli Rowlltree Chai'itable Triist.. Advocacy clnd Lobbyist Projcct Departmeiit for Foreigii Affaii-s: Womeii's Spaces Pi'oject Dept of Levelliiig Up, Housing and Coii)Iniinilies Tlie Pilgrim Tiiist Natioiial LotteL'y Coillmiinity Fuiid 80,375 152,259 3,000 74,124 18,009 3,000 63,084 22,090 587,470 2,590 84,608 1,097,951 664,078 OTHER INCOME 31.3.24 31.3.23 Use of Pieiiiises B<lnk Intercst Otliei- Incoine RYV Woi'kshops 8,928 1,577 4,363 2,177 6,910 221 7,788 17,045 14,919 23 coiiliniied...
Women's Resoui'ce and Develo Com LimitLd ment A enc Notes to tlie Financial Statements - Continued for tlie Yeai. Ei nded 31 March 2024 CIIARITABLE ACTIVITIES COSTS Siippoit costs (see uote 6) Dircct Costs Totals DiTect Charitable ExpenditLire 1,026,909 4,200 1,031,109 SUPPORT COSTS Governance costs Direct CliaTltable Expeiidituie 4,200 AUDITORS, REMUNERATION 31.3.24 31.3.23 Fees payable to Ilie cliarily's aiiditors for tlie aiidit of tlie cliarity's finaT]cial slateiiients 4,200 4,200 TRUSTEES, REMUNERATION AND BENEFITS Thei-e were no trLlStees' i'einiiiieratioii or otliei- benefjts for the year ended 31 Mai'ch 2024 nor for tlie yeai- elided 31 Maicli 2023. Triistee5' expenses Tliei-e wei'e iio IrLislees' expeiises paid tor tlie year ellded 31 Mai'ch 2024 nor for tlie year ended 3 1 Maicli 2023. STAFf COSTS The key inanagelllent persoilliel of tbe charity coinpi'ise of Ilie Cliief Eqxecutive aDd tlie Finance Manager. Tlie Sc11aries paid to Icey inaiiageinenl pei-sotlliel during tlie yeai lotalled £108,981. (2023.. £106,123) 24 continued...
Won]en's Resource lind Develo Com an Limited Enent A enc Note5 to the Financial Statements contlniied A'o). the Year li nded 31 Mai'LlI 2024 10. INTEREST PAYABLE AND SIMILIIR CHARCES 2024 2023 Interest oil Iiet defined beiiefit peiision liability 11. TANGIBLE FIXE4 D ASSETS Fixtiires Freehol(I PTopeTty rittings Tolals COST At l Apiil 2023 aiid 31 MÉ1rch 2024 241,759 43,281 285,040 DEPRE4 CIATION At l April 2023 aiid 31 Mai'ch 2024 43,281 43,281 NET BOOK VALUE At 31 Marcl) 2024 241,759 241,759 At 31 March 2023 241,759 241,759 Securit on Pro er at 6 Mount Charles BelfAst Tlie Coinpany has entered into Deeds of Covenaiit and Cliai'ge whei-eby Mortgages have been registei-ed iii the Regxslry of Deeds giving cliarge on the propeity in favoiii of, firstly, the Depa1nent of Health aiid Social Services for Northern Ircland, ,seeoiidly, The Departtnent of Finance and Persoiiiiel for Northei'n li'eland, and thirdly, the Josepli RowIitt'ee Cliai'itable 'fi'LlSt. 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Piiblic Health Agency Departinent of Foreign Affairs The Pilgrim Ti'ust Belfast City Coiiiicil Capacity Biiilding Belfast City Couiicil Grow, Lec1d, Cliaiige DSD.. Regioncil Support for Woiiien iii Disadvantaged aiid Riii'al 'eaS Prepayineiits and acciijed iiiconie 52,431 2,843 2,590 52,431 1,749 1,094 2,936 1,650 1,580 62,450 56,854 25 conlinued...
Women's Resource and Develo Com an Lin]ited ment A enc Notes to the Financial Statements continiied foi- the Yeai- Ended 31 Mill'ch 2024 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Acciiied expeiises 13,014 4,200 14. ANALYSIS OF NET ASSETS BIITWEEN FUNDS 31.3.24 Total fuiids 31.3.23 Total fiinds Ui]resti-icted Resti'icted fiiiids fiinds Fixed assets Ciiii'ent assets CLirreiit liabilities Peiisioii liability 91,759 560,153 (13,014) 107,806) 150,000 85,908 241,759 646,061 (13,014) 107,806) 241,759 561,787 (4,200) 36,163) 531,092 235,908 767,000 763,183 15. MOVEMII NT IN FUNDS Net iiioveinenl in fLinds At 3113124 Al 114123 Unrestricted funds Geiiei'al FLiiid 495,973 35.119 531,092 Resti'icted fund5 DefLrred Capital Gi-aiit Reserve Belfast City Coiiiicil Capacity Biiilding Jiistice & Eqiiality Fuiid Inanaged by ROSA Raise Yoiii. Voice MAS Iji'oject - Matelal Advocacy and Siippoit UK CoiThnuiiity Renewal Fund Belfast City Coiiiicil.. R(iise Youi. Voice Josepli Rowntt-ee Cliaritable Tiiist.. Advocacy aiid Lobbyist Pi'oject Dept of Levelliiig Up, HoLisiiig 1< nd CoiThnunities National Lottery colni]Ility Fuiid 150,000 836 150,000 (836) 6,609 (5.532) 1,077 91,-547 5,039 (91,547) (5,039) 3,000 3,000 13,179 (7,854) 5,325 53,818 22,688 53,818 22,688 267,210 31,302 235,908 TOTAL FUNDS 763,183 3,817 767,000 26 continued...
Women's Resource and Develo Com an Limxted ment A enc INotes to the Financial Statements continiied for the Yeai" Ei nded 31 March 2024 15. MOVEMENT IN FUNDS - continiied Net moveineiit in fiinds, incliided iii tlie above al-e as follows.. liicoiiiiiig i-esoiii-ces Resoiii'ces expended Moveineiit in fiinds Unl'estricted funds Genei-al Fiind 248,398 (213,279) 35,119 Resti'icted fiinds Depaitinent of Healtli Core Fiinding DFC.. Regioiial Siippoit foi. Wornen in Disadvantaged aiid Riiral kn-eas Belfast City Coiiiicil Capacity Building Justice & Equality Fiind Inanaged by ROSA Raise Youi. Voice MAS Pi'oject - Maternal Advocacy and SLlPPOIt UK Cojniiiiinity Renewal Fuiid Belfast City Coiiiicil.. Raise Yoiir Voice Joseph Rowntree Chai'itable Trust.. Advocacy and Lobbyist Project Dept of Levelling Up, Housiiig aiid Coiniiiiinities The Pl1.1M I'iust Natioiial Lottery Comniunity Fund 17,202 {17,202) 58,185 50,000 (58,185) (50,836) (836) (5,532) (5,532) 634 (92,181) (5,039) (91,547) (5,039) 3,000 3,000 63,084 (70,938) (7,854) 587,488 2,590 84,608 (533,670) (2,590) 61,920) 53,818 22,688 866,791 (898,093) 31,302) TOTAL FUNDS 1,115,189 1,111,372) 3,817 27 coiitiiiued...
Women's Resource 24 nd Develo Com an Limited ment A enc Notes to the Financial ,8tatements - continued foi. tlie Year Ended 31 Mai'ch 2024 IS. MOVEMENT IN FUNDS - Continued Coniparatives foi. movement in funds Net Inovement in ftinds At 114122 3113123 Unresti'ictcd funds Genei'al Fuiid 470,138 25,835 495,973 Resti'icted I'unds DefeLI'ed Capital Grant Reserve Tlie Josepli RowLItt-ee Charit<2ble Trust.. Advocacy and Lobbyist Project Belfast City CoLincil Capacity Building AS Pi'ojecl - Malenial Advocacy aiid SLlPPOrt Joseph Rownti'ee Charitable Tiusl Adaption Fuiid Jiistice & Eqiiality Fiiiid iiiallaged by ROSA Raise Yoiii. Voice (4) UK Coiiiiniiiiity Reiiewal FLind Josepli Rowutree Chaiilable TTUSI.. Advocacy aiid Lobbyist Pi-ojecl 150,000 150,000 1,536 234 (1,536) 602 836 202,345 (110,798) 91,547 2,468 (2,468) 25,557 104,569 (18,948) (99,530) 6,609 5,039 13,179 13,179 486,709 219,499 267,210 TOTAL FUNDS 956,847 193,664) 763,183 28 colltinlied...
Wonien's Resoui'ce and Develo Com an Limited Inient A enc Notes to the Financial Statements - continiied foi. the Year Ei nded 31 March 2024 15. MOVEMENT rtUNDS - continued Comparativc net moveineiit iii fLiiids, iiicluded iii tlie above are as tollows.. Incoiiiing Yesoiirces Resoui'ces expeiided Moveinent iii fiinds Unrestricted ft'unds Genei'al Fiind 242,786 {216,951) 25,835 Resti'icted I'unds The Josepli Rownts'ee Cliai'itable Ti-LlSt: Advocacy and Lobbyist Pi'oject Depai-tiiient of Ilealtli Core Fiindiiig DFC: Regi011ic I Suppoit for Woineii in Disadvantaged and Rui'al -eaS Belfast City CoiiiicTI Capc2city Buildilig MAS Project - Mateinal Advocacy and Siipport Joseph Rowntt'ee Charitable Trust Adaption Fund Justice & Equality Fiind inanaged by ROSA Raise Your Voice (4) UK colnUnity Renewal Fuiid Belfast City Coiincil.. Raise Yolir Voice Joscph Rowntree Chai'itable Trust.. Advocacy and Lobbyist Pi'oject (1,536) (34,403) (1,536) 34,403 62,037 30,149 (62,037) (29,547) 602 80,375 (191,173) (110,798) (2,468) (2,468) (18,948) (251,789) (18,948) (99,530) 152,259 3,000 (3,000) 74,124 60,945) 13,179 436,347 (655,846 219,499) I'OTAL FUNDS 679,133 872,797) 193,664) 16. EMPLOYLE BENEIFIT OBLICATIONS The coinpaiiy paiticipates in 2 peiision sclieiiies TPT Retirement Solutions - Northei'n li'elrfind Chsgrities Pension Scl)eme Tlie coinpany pai-ticii)ales in the sclieme, a inulti-einployei. sclieiiie whicli provides benefits to some I I non-associated eiiiployei's. The scheiiie is a defiiied benefit schenie in tlie UK. It is iiot possible foi. the coinpaiiy to obtain siifficieiit infornialioii to eiiable it to accouiit foi. tlie sclieine as a defined benefit sclieine. Tliei'efore il (Trccounts for the scheiiie as a defined coiitribution sclieme. Tlie schei]ie is siibject to tlie fundiiig legislatioii outlined iii tlie Peiisioiis Act 2004 wliich caine iiito force on 30 Deceinber 2005. This, togetlier witli docuineiits issued by the Pensioiis Rcgiilatoi- aiid Teclinical Acttiai'ial Staii(laids issiied by tlie Finaiicial Repoi-tiiig Couiicil, set out the flaiiieI0i'k foi- fiiiidiiig defined benefit OCCUP1ctioiial pension scheines iii the UK. 29 coiIIiiiLied...
Women's Resoui'ce and Develo Com an Limited ment A enc Notes to the Financial Statements - continiied for the Yeai. Ei nded 31 MarLh 2024 16. EMPLOYEE BENEFIT OBLIGATIONS - continued The sclieiiie is classified as a 'last-Inan standiiig ai'rangeiiient,. Tliei-efore the compaiiy is potentially liable foi. otliei. paiticipatiiig einployei's, obligations if those eiiiployei's al'e iinable to ineel Ilieir share of tlie sclieine deficit lollowiiig willidrawal fi-oiii tlie sclieine. Paiticipaling eiiiployei-s are legally i-eqiiii'ed to ineel their share of the sclieine deficit on an <innuity piircliase basis on withdiawal fi'om tlie schenie. A tilll actLiarial valuation for tlie sclieine was carried out at 30 Seplembei. 2022. This actuarial valiiation showed assets ot £22.8in, liabilities of £26.OIn and a deficit of £3.2m. To elimiiiate this ftillding shortfall, tlie Tiustee asked tlie partioipatiiig employers to pay additional contt'ibLltions to tlie schenie as follows.. Deficit contributions Fi-oiT] l Oclobei. 2022 to 31 Mai'cli 2024.. £163,617 pei. anniiin (payable niontl)ly) Froim l Aptil 2024 to 30 April 2031.. £245,773 per annuni (payable iiionthly) Froin l May 2031 to 30 June 2037.. £95,154 per ai]num (payable moJ]thly) Note that the sclieme's PL'evioLiS valiiatioii was cai-ried oiit at 30 Sepleinber 2019. This actLiai'ial valiiation showed assets of £35.4)n, liabilities of £37.8111 aiid a deficit of £2.4111. To eliininate tliis fiinding shoirfall, tlic Tiustee asked Ilie i-licipalillg eliiployers to pay additioiial contributions lo tlie sclieine as follows'.- Deficit collti'ibutioiis Fi-oin l Augiisl 2020 to 29 Febniai-y 2028-. £1,280,605 in total (payable inontl]ly) The I'ecovei'y plan coiitributioiis are allocated to each participating einployer in liiie with their estiinated sliai-e of tlie sclieme liabilities Wliere the scheine is in deficit aiid wliei'e tlie coinpaiiy has agreed to a deficit fi]iidiiig arraugeLneiit the COLnpany i'ecognises a liability foi. this obligation. The ainoLllIt reCOlised is the Iiet present valiie of the deficit reduction conti'ibLltions payable Lindei- tlie <1gi'eenienl that relates to Ilie deficit. Tlie present vallie is calciilated Usllig the discoiiiit Tate detailed in these disclosiires. Tlie iinwindllig of the discoiiiit rate is recogiiised as a finallce cost. Pi'esent values ol. provisioll 3110312024 (£s) 107,346 3110312023 (£s) 35,177 3110312022 (£s} 44,325 Present value of provisioii ReeonLiliation of opening and closing pi'ovisions 30 continiied...
Wonien's Resoui'Le and Dei'elo Com an Limited ment A enL Notes to the Financial 8tatements - continiied foi. tl)e Year Ended 31 Marcl) 2024 16. EMPLOYEE BENE4 FIT OBLIGATIONS - continued 3110312024 (£s) 35,177 1,607 (8,057) 1,475 77,144 107,346 3110312023 (£8) 44,325 1,024 (8,057) (2,115) Piovisioii at stai't of pei-iod Unwinding of tlie discouiit factor (inteiest expense) Deficit conttibution paid Reiiieasui'enienls iiiipact of any cliange in assiiinptioiis Reiiieasui'ements ainendinents to Ihe conh'ibiition scliedule Pi'ovision at eiid of pei'iod 35,177 Income ¢qnd expenditiire isnpact 3110312024 {£s) 1,607 1,475 77,144 3110312023 (£s) 1,024 (2,115) itei'esl expeii%e Remeasui-eineiits - impacts of aiiy clianges in assiiiiiptions Renieasui-eiiients - ainendinents to the contribiilion scliediile Conttibutions paid in respect of fiiture seivice Costs recognised in income aiid expeiiditure accouiit incliides defined contribution scliemes and future service contributions (i.e. excluding any deficit Teduction payineiits) to defined benefit scheines wliich are ti'eated as defined contiibution scheines. Assumptions 31103/2024 3110312023 3110312022 /0 per tlI1]i % per aniiiiin /0 per aniiiiin 4.71 5.15 2.56 Rate of discouiit The discoiint rates shown above are the equivalent single discoiint l'ates whicli, when iised to discoiint the ft]ture i'ecovery plaii coiitributions due, woiild give the saine resiilts as usiiig a fiill IiA corpoi-ate bond yield curve to discoiint tlie same i'ecovery plan conti'ibiitioiis. The coinpany rnlist recogiiise a liability mcasui-ed as the present Vlc liie of the coiitributions payable that arise fi'oin the deficit recovery agreemeiit and the i'esiilting expense iii the inconie aiid expendittire accoiint ie tlie iinwinding of the discount l'ate as a finance cost in the period in wliich it ai'ises. It is tliese contiibiitions that liave been iised to dei'ive the coiiipaiiy's balaiice sheet liability. TPT Retii'ement Soliitions - The Gi'owth Plan Tlie Compclny participates iii tlie scheine, a inulti-ciiiployer sclieme whicli provides beiiefits to soine 638 noii-associated paiticipating employei's. The sclieme is a defiiied bejiefit schcinc iii tlie UK.It is not possible for the coinpany to obtain siifficient infoi-lnatioii to enable it to account foi- the sclieiiie as a defined beiiefit sclieine. Therefore il aGcoiints foi the Schele as a defined coiitribiitioii sclieine. coiitiniied...
Wonien's Resoui'ee and Develo Com an Limited ment A enc Notes to the Financial Statements - continued I'oi. the Yeai. Ended 31 M&i'ch 2024 16. EMPLOYEE BENLI fiIT OBLIGATIONS - continued The scheiiie is subject to the ftiiiding legislatioii oiitliiied in the Pensions Act 2004 wliicli caine into foi'cc on 30 Deceiiibei 2005. Tllls, logetlier witb docuineiits issued by tlie Pensioiis Regiilatoi aiid Techiiical ActLiai'ial Staiidards issiied by tlie Finaiicial Repoi'ling Council, set out tlie fi-ainewoi'k foi. fuiidiiig defined benefit occupational peIision scheines iii tlie UK. Tlie sclieiiie is classified as a 'last-iiian standing ai'rangeiiieiit,. Tliei'efore Ilie cotnpaiiy is poteiilially liable foi. otlier paiticipating eiiiployers, obligations if those eTnployei-s al-e unable to meet their sliare of the sclieme deficit followiiig withdrawal froill the sclieine. Participating eiiiployers are legally ieqllll-ed to iiieet their sliai'e of the sclieine deficit on an al[lIty PLlI'chase basis on withdrawal froni the scheme. A full actuarial VdlLiation foi. tlie scheine was caiiied oiit at 30 Septeiiiber 2020. Tliis valiiation Showed assets of £800.3in, liabilities of £831.911i and a deficit of £31.6in.To elimi1i8te tliis fiinding sliortfall, the TrLlStee asked tlie participating eiiiployers to pay additioiial contributioiis to tlie sclieiiie as follows.. Deficit eolltributions Fi-oiii l Apiil 2022 to 31 JanLiai'y 2025.. £3,312,000 peT annuin (payable inonthly) Ullless a concession l18s been agreed willi tbe Trustee tlie tenn lo 31 January 2025 applies. Note tliat tlie sclieine's pi'evious iicilliation was caryied oiit with ali effective date of 30 Septeniber 2017. This valuatioii slioived assets of £794.9in, liabilities of £926,4Lii and a defieit of £131.5111. To eliininate Iliis fiiiiding shortfall, the T1'llStee lias sked paiticipatiiig eiiiployei's to pay additional coiiti'ibutions to Ilie schetne <1S follows.. Deficit contributions From l April 2019 to 30 Sepleinber 2025.. £11,243,000 per anniiin (payable moiitlily aiid increasiiig by 3 % eacli year on 1st Apiil) The i-ecovery plan coiiti-ibution,s are allocated lo each partlC2Pclting einployer in line witli tlieir estimated share of tlie Sei'ies l and Seiies 2 sclieine liabilities. Vliei-e tlie scherne is in deficit aiid wlieie the coii)P<iny lias agreed to a defjcit funding arrangeiiieiit the coinpaiiy recogniises a liability foT this obligalioii. The ainouiit reColised is the iiet pre%ellt valiie of the deficit reductioii coiih'ibiitions payable iiiider the agreeiiient that relates to tlie deficit. Tlie preseiil valLie is calculated iising the discount l'ate detailed in these disclosiii-es. Tlie unwinding of the discount i'ale is i'ecogiiised a8 a fiiiance cost. Present valiies ol. provision 3110312024 (£8) 460 3110312023 3110312022 (£s) 1,546 Present valiie of pi'ovision 986 Reconciliation ol. opening and closing provisions 32 continued...
Women's Resoiii'ce and Develo Com Limited ment A enL Notes to the Dinancial Statements continued fol. the Yeqrf r nded 31 March 2024 16. EMPLOYEE BENEFIT OBLIGATIONS - LODtinued 3110312024 (£s) 986 37 (563) 3110312023 (£s) 1,546 29 (563) (26) Pi-ovision at stal-l of pei-iod Unwinding of Ilie discoiint factor (interest expense) Deficit coiiti'ibution paid Reiiieasui'eineiils - iinpact of any cliange iii assuiiiptions Reiiieasui'eiiients ainendinents to tlie conh"ibution scliedule Pi'ovisioii at end of period 460 986 Income and expenditure impact 3110312024 (£8) 37 3110312023 (£s) 29 (26) Interest expense Remeasui-eiiients - iinpacts of any chaiiges in assuKnptioiis Reiiieasiii'ements - aineiidinents to tlie conh'ibutioii scliedule CoiitTibiilioiis paid in i'espect of futiire service Costs i-ecognised in iiicome aiid expenditui-e accouiit iiicludes defiiied coiib'ibution sclieines and futiire service contributioiis (i.e. excluding aiiy deficit rediiction payineiits) to defined beiiefit sclieines wliicli are treated as defined contribution scheines, Assunjptions 3110312024 3110312023 3 I10312022 /0 pei- atuiiiin % ear ailliiiin 0/0 peF ainiiiiii 5.31 5.52 Rale of discoui)t 2.35 The discount rates sliowii above aTe the cquivalent single discoiiiit rates which, Hiheii iised to discoiint tlie future recovery plaii coi)ti'ibutions due, woiild give tkie same iesults as iising a fiill AA corporate bond yield curve to discoLint tlie same i'ecovei-y plan contributions. The company must recolise a liability measiii'ed as the pi'eseiil valiie of tlie coiitribiilioiis payable that ai'ise fi'oiii tlie deficit iecovei-y agi'eement and tlie i'esiilting expeiise in the incoiiie and expenclitiire accoiiiit i.e. tbe unwilldiiig of tlie discouiit rate as a fiiiaiice cost in the peiiod iii wliicli it ai'ises. It is tliese conh'ibutions that have beeii iised to dei'ive the coiiipaiiy's balaiice slieel liability. 33 oiitiiiiied.
Women's Resoui'ee and Develo Lin]ited Jnent A enc Notes to the Financial Statements continiied roi. the Ye21. Ended 31 Marcli 2024 17. RELATED PARTY DISCLOSURES There wei'e no related party transactions foi. Ilie yeai. ended 31 March 2024. 18. FRC EI THICAL STANDARD _ PROVISIONS AVAILABLE FOR SMALL EI NTITIEI S ID coiiuiioii witli Inally Otliei. biisinesses of oiir size and iiature we iise our auditors to pi'epai'e aiid subinit rehjills to tbe tax &iitliorities and Assist witli Ilie preparation of tlie fiiiancial stateinents. 19. DEf4 Ei RREI D CAPITAL GIiiNT RESERVE Tlie Defeired Capital Grant Resei've includes two grants in i'elation to thc puichase of offIces at 6 Mount Cl)ai-les, Belfast in 1996. The Depa1]ent of Health and Social Seivices foi- Northein Ireland The Depai'ttneiit of Fiiiaiice aiid Pei'soiiiiel foi. Noi'tliei'ii li'e11c J]d loo,000 50,000 150,000 As, Iiiidei. cerlaiii circumstances the possibility of wliicli are i-einote, the coinpaDy has a liability to i'epay these loaiis in fiill, aiid as no depi-eciation is being pi-ovided on 11)e buildiiigs in qLiestioii, no release will be iiiade froin tlie Defei'i-ed Capital Gi'ants Resei-ve lo the Incoi]]e aiid Expenditure Account diiring tlie tenii of thc loans. 34
Women's Resoui'ce 21 nd Develo Com an Limited ment A enc Detailed Statement ot. Financial Activities lor the Yeai. Ended 31 Marcli 2024 31.3.24 31.3.23 NCOMEI AJ4D Et NDOWIVLCI NTS Donations and leg1& cies Doiiatioiis 193 136 Charitable activities Grants 1,097,951 664,078 Other income Use of Pi-eniises Bank Intei-e5t Other IncoiJ]e RYV Worksliops 8,928 1,577 4,363 2,177 6,910 221 7,788 17,045 14,919 Total incomiiig resources 1,115,189 679,133 EXPE4 NDITURE Charitable activities Salaries, NIC & Pensions Social secui'ity Peiisioiis Insiirance Light (iiid hei( t Teleplione Stationery and Photocopying Siindries Staff Travel Staff Developinent Rep£iirs and Cleaniiig Postage PLiblicity and PR Website Developinent & IT AccTeditation, Evaliialion aiid Facilitalioii costs Participant's Travel Meinbership & Affjliation Printing aii(l Developineiit of Repoi'ts Coiifei-ence & Pi-ogranijiie Costs Carried foi'ward 387,917 33,921 26,724 1,871 6,698 5,391 5,366 2,435 5,399 2,862 7,119 123 11,561 10,175 360,986 32,142 25,237 1,543 4,260 5,385 6,193 865 4,046 3,190 9,214 248 10,993 4,663 27,162 334 769 1,878 660 538,365 31,669 274 668 1,317 2,407 505,300 Tliis page does not foiiii pai t of the statutoiy financial stateiiients 35
Women's ResourLe and Develo Com an Li]ted ment A enc Detailed Statement of Financial Activities lor the Yeai- li nde(131 Marcli 2024 3l.3.24 31.3.23 ChAI'itable activities Biouglit forward Hii'e of Rooins & Resideiitial Cai-¢Ls costs Consliltancy Fees Hospitality Resoiii-ce Packs Access Nl fee. Piiblications NLCF Prograiiuiie Costs Raise Yoiii- Voice MAS pl"0aMIne costs Eqiiipiiieiil costs UK Coinjiiiinity Renewal FLiiid prograinine costs UK SPF Pl"0.,71nt11e Costs Legal Fees Bank Intei'est and Cliai'ges 538,365 2,171 505,300 917 1,478 5,676 3,564 3,049 43 150 4,668 6,858 57 645 10,606 5,290 65,106 6,541 278 120,336 5,796 222,923 385,921 500 181 175 1,026,909 869,685 Other Remeasui'eilleiit of i)ensioii liability Intei'est on pension sclieine li£ibilities 78,619 1,644 (2,141) 1,053 80,263 (1,088) Suppoi't costs Covei'nanee Costs Aiidilois, i'emuiieratloll 4,200 4,200 Total resoiirces expended 1,111,372 872,797 Net income/(expendilurL) 3,817 193,664) This page does not f011n pai't of the statutory financial stateiiients 36