Registered company number: N1034272 (Northem Ireland) Charity Commission for Northem Ireland number.. NIC100185 HMRC registered charity number". N101295 THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 CG Taggart AccountanGy Services Chartered Accountants and Registered Auditor 17 Cypress Crescent Donaghadee Co. Down BT21 OQG
THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) CONTENTS OF THE TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Page Refernn¢• and admlnlstrative détails olthe¢haritabl• companyg its trust••s and advisors Trustses. report 2-11 Indep•ndent auditorfs r•port on tho finanoial stat•m•nts 12-14 Stat•mant of flnancial activltl•s, Inoorporatlng the Incom• and •xp•nditur• a¢¢ount 15 Balanaa sh••t 16 Statem•nt of Cash flows 17 Notos to th• financlal statemonts
THE WOMENS TEC (TRAINING. ENTERPRISE & CHILDCARE CENTRE (A company limited by guarantee) REFERENCE AND ADMINISTrATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023 Trustees (direclors for Sylvia Gordon, Chairperson the purposes of company Anda Morrow, Treasurer (from 31 May 2023) law) Norah Baillié, Treasurer (resigned 31 May 2023) Michael Potter Nuala Griffiths Nicola Mccrudden (resigned 4 January 2023) Maria Bradley Siobhan Brown Nicola Mccleery (appointed 16 January 2023) Company reglsterod number N1034272 INorth8m Ireland) CCNI Charlty roglster•d number NIC100185 HMRC registered charfty number N101295 Prlnclpal op•r*tlng and roglsterod offlc• 29 Chichester Avenue Belfast BT15 5EH Company s•cr•tary Lisa Mccann Chl•f Ex•cutlv• Lynn Carvill Independent audltor CG Taggart Accountancy Services 17 Cypress Crescent Donaghadee Co Down BT21 OQG Bank•rs First Trust Bank 35 University Road Belfast BT7 1ND Soli¢ltors Edwards & Co 28 Hill Stre&t Belfast BT12LA Page 1
THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 The trustees present their annual report together with the audited financial statements of The Womèns TEC (Training, Enterprise & Childcare Centre) Ltd {WOMEN'STEC) for the year 1 April 2022 to 31 March 2023. The Annual report serves the purposes of both a Trustees, report and a Directors, report under charitable company law. The trustees confirm th8t Ihe annual report and financial statements of the charitable company comply with the current statutory r8quiremenis, the requirements of the charitable company's governing document and the provisions of the Slatement of Recomm8nded practi {SORP) 8pplicab18 to charities preparing their accounts in accordanc6 with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Sinc8 the charitable company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 20C6 (Strategic Report and Dir8Ctors' Report) Regulations 2013 has been omitted. ObJ•ctlv•s and actlvltlo8 a. Polloles and obJectlv•8 Vlsion: "WOMEN'STEC will be the leading authority in Nl for connecting females with industries in skilled areas wh8re they are under-represented." Mlsslon: We support women to tak8 gre8t8r advantage of opportunit18s in sectors and carears where women are typically under represented. WOMEN'STEC is register8d with th8 Charrty Commission for Northem Ireland with the following aims.. To prevent andlor relieve poverty and 8dv8nce education and training in Northern Ireland., and To provide facilities in the interest of advancing women's involvement in SeOrS of training 8nd employment that have Sow levels of female participation, specifically wom8n who are socially and econom ically disadvantaged. The purpose of WOMEN'STEC is the advancement of education and the prevention and ralief of poverty and unemploymant, in particular of women and girls aged 12 or over living in Northern Ireland. Th8 direct benefits accruing from our purposes as noted with the Charities Commission for Northern Ireland includ8'. Students gain qualifications and practical skills-, Students experience heightened self-esteem and confidence enabling them to move forward into further training and education or employment; Stud8nts enhance thair 8mployability, increasing their opportunities to move into further training and education or employment,. and Students are better equipped to move into paid employment, thereby increasing their economic security. Page 2
THE WOMENS TEC ITRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) TRUSTEES, REPORT(CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Objectlves and actlviti•s (continued) b. Strat•gi•8 tor achlevlng objectives The strategic priorities were revised for the period 2021-2024. The strategic objectives which direct our annual operational priorities include: Continued development of organisation81 resilience and sustainability,. Raise WOMEN'STEC profile and influence., Increase social and cultural impact of WOMEN'STEC programmes., Increase reach of WOMEN'STEC programmes., and Assure corporate governance mechanisms. c. Actlvitl•s for achlevlng obJoCtIv•s Since 1998, WOMEN'STEC has supported countless women and girls to develop their confidence, self-esteem, skills and improve th8ir opportunilies for reaching their full polent181. WOMEN'STEC has grown from a small, community-based organisation to, what is now considered by SORP, a large charity. This last year represents a significant milestone in ourjourney to becoming 818rge charity delivering significant impact to tha communities we serve. During 2022-2023, we delivered our programmes and services through eight core projects supporting three core target groups- young mothers, women returners and girls of school age. Connect 4 Women Year three of the Connect 4 Women project began in April 2022. This partnership project between WOMEN'STEC, Glow Nl and Shankill Women's Centra brings together the unique strengths of three womèn's organisations to provide a programme aimed at improving the life opportunities of women across north and west Belfast. Participants are offered skills training (accredited and non-accredited in trades and IT}, adult leaming (essential skills, GCSE Maths and English) and personal development. The proor8mm8 provides a personalised pathway of training and development in a way that IS Sulted to their needs and personal situations, supporting them furthar with wraparound services such as childcare, health and wellbeing, advice and support to acsS. This year, WOMEN'STEC, as the delivery agent for skills training under this programm8, delivered OCN courses in Skills in Horticulture, IT for Work, DIY Skills, Developing Woodworking Joint Skills, Car Maintenanc8 and Word Processing. Additional to courses d81ivered, we held a Community Services Inform8tion and Women's Wellbeing Day that aimed to increase aw8r8ness of the support services available in the wider community, and to take part in wellbeing sessions around relaxation, breast health and other health checks. Participants of Connect 4 Women also conlributed to a wider piece of research which explored the impacts of the Cost-of-Living Crisis on local women, with an element of learning how to manage their personal finan. Furthermore, some participants attended The Bad Bridget's exhibrtion on a trip to the Ulster American Folk Park, that brought to life the stories of thousands of women who lefl Ireland for America in the late 1800'slearly 1900s. A group of participants also engaged with an external evaluator who undertook an interim evaluation of the Connect 4 Women programme. Page 3
THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 c. Actlvltles for achi8vlng objectives (continued) Hor Space The Her Space programrne came to a close in Dember 2023. Over the period of the programme, women were equipped with valuable trade skills for independent living. The purpose of the project was to fit out an empty shipping container and repurpose it to a one-bedroom, self-contained emergency accommodation unit. At its beginning, this was significantly impacted by Covid and therefore how the programme was delivered was changed to accommodate social distancing. Since delivery has returned to normal, the participants were able to enter the shipping container, however due to the time constraints, rather than starting from scratch, participants used their skills to refurbish the container which came with the basic 8ccommod8tiDn eleménts. There have been a number of technical drfficulties around logistics, connections to utility servic8s and oth8r challenges that mean that discussion is ongoing about the final destination of the container, however the Her Space programme was very successful in supporting 36 participants to gain practical skills in various trades and life skills in areas such as health and wellbeing, managing finances and nurturing healthy relationships. Furthermore, participants enjoyed industry site visits to Templemore Baths and Finnebrogue Woods where they experienced first hand what it is like to work on building sites and to 168m of the various c8r8er roles and opportunitles in the construction sector. Urban Vlllages Our Urban Villages programme re-commenced in April 2022 with new participants. This programme, funded through The Executive Office's TBUC programme under Urban Villages funding, is designed to bring together women from Ardoyn8 and Ballysillan to explore drfferent cultures, learn new skills and experience activities that 8re not normally accessible to the participants. This year, participants completed courses in Carpentry, Electrics, Gardening, Personal Development, Car Maintenanc8, Plumbing, DIY and Wood Carving, as well as trips to th8 Somm6 Museum, Belfast City Cemetery, the Ulster Folk and Transport Museum and attended our Community Services Information Day. This project ultimately uses construction based skills learning to bring togeth8r women from different communities to build r61ations and develop understanding and toleran. Sustalnlng Tenancies This year, a new 2-year programme was introduced, fund8d through the Housing Executive. The Sustaining Tenancies programme is aimed at supporting women living in Housing Executive homes to thrive in their home environment and increase their opportunit18s for lrfe and work that will all contribute to increasing their likelihood of sustaining Ih6ir tenancies and reaching their full potential. The programme encompass8s a diverse range of sessions that equip participants with valuable DIY skills, p8rsonal development and essential lrfe skills. From mast8ring power lools to the art of hanging shelving, and from plumbing insights to understanding domestic electrics, the programme empowers participants to take control of their living spaces, feel proud of their home and feel a sense of empowerment and achievement. Additionally, we facilitate open dialogues between participants and the Housing Executive where they can discuss issues around home repairs, support from the Housing ExecutlV8 and connect with Patch Managers. This year, 18 participants engaged on the programme and new participants will be recrurted in 2023-2024. PASSIPathways The PASS project was 8 short-temi, 8ddilion81 project delivered for TWN. It was a dedicated initiative aimad at providing invaluable support to women aged 16 to 24 yrs, while the Pathways programme was tailored for those over 24. The programme, delivered over 12 weeks, supported 10 new participants to encompass a diverse array of Iraining that supported their development and progression to further training, volunteering or employm8nt. From mastering DIY skills to honing creativity, Participants also engaged in personal development, employability skills, IT skills and onlina training. The programme was delivered as part of a wider project under TWN'S European Social Fund project and ended in March 2023. Page 4
THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) TRUSTEES, REPORT ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 c. Actlvitlos for achiovlng obJ8ctlvos {contlnuod) Buildlng Independence Programme The Building Independen Programme welcomed 25 new participants in its final year ofdelivery. Made possible through the Smallwood Trust, the programme was participant-driven, designed to cat8r specrfically to the unique needs of the target group, young mothers aged 16 to 30 years old. The programme cultivated confidence and soft skills imperative forfuture employment prospects. The provision of childcare, free to participants, was cruci21 to ensuring participation, reducing the barrierforthese young mothers to attend the programme. The programme included practical DIY and construction-based skills training, whilst also fostering a sens6 of community and mutual support within the group- an important element of ensuring young mothers who are often isolaied, feel supported by others in similar situations to them. Personal development and one-to-one support tailored to each P8rticipant's individual needs ensured they maximised the opportunities of the programme and prepared them for taking meaningful steps forward in their own journeys as their children approached school age. Promotlng Opportunltles Programme: #NotJu8tForBoys Our flagship youth programme, POP, which challenges misconceptions and encourages, empowers and supports young girls lo consider career opportunities in sectors whera women are under-repres8nted, had very successful year. This year, we continued our work with Ioc81 primary and pOStriMary schools, engaging with Trinity Colleg8 Belfast, Mercy College, Girls, Model, Hazelwood Integrated College, Bangor Academy, Our Lady's Girls, Prim8ry School, and Mercy Primary School. Our work with schools incorporated Homework clubs, group projects, site visits and industry talks. Notably, we developed two new projects including 'Tr8ding Places, which is a 3-day course for 11-17yr olds, where the purpose is to create inter8St in the world of trades and construction, by 'learning through doing,. Th8 'Under the Bonnet, project is a 0-daY course for girls aged 15- 19yrs which teaches basic car mechanic skills and driving theory practice tests. Both projects were offered and rolled out to a number of schools, as well being included in school holiday sch6mes. Our homework clubs mat weekly from 34pm where girls learned skills in measuring, cutting, power tools and decorating. School enrichment programmes ran successful DIY courses with year 13 girls, focusing on basic woodworking, power tools and basic electrics. Students worked on building planters and a bench for their school grounds, using tools such 8S jlgsaws and planers to create joints, not only developing practical skills, but also improving skills in teemwork and CL)Ilaboration. Between DeeAgmber and February, two primary schools engaged in our 'Introdu¢tion io Construction, taster sessions programme enabling hands-on experience of various trade skills, allowing them to explore various aspects of construction. This project is aimed at igniting their curiosity and opening doors to a world of possibilities for working in the construction industry. In collaboration with GEDA Construction, we worked on thought-provoking sessions on gender and careers in the construction industry, delivered to both P7 boys and girls. This was aimed at reshaping traditional mindsets and breaking gender stereolyp85. Through interactive discussion and engaging activities, we talked about considering the diverse career paths within construction, fostering a more inclusive perspective. This initiative nol only encouraged them to explore opportunities in sectors where women are lypically under-r8presented, but also highlighted the importance of equality and diversity in the workforce, setting the stage for a more equitable future. We welcomed 8 new programme coordinator in September 2022 to lead on the delivery of the programme, support8d by th8 POP project officer. At th8 8nd of the 22-23 year, in March, the POP.. #NotJustForBoys programme started delivery in the Newry, Mourne and Down region, working with our partners, Bolster Community and maintenance contractor, CTS Projects, to bring the programme to 22 girls betwe6n the ages of 11 and 16 years old. Page 5
THE WOMENS TEC (TrAINING. ENTERPRISE & CHILDCARE CENTRE (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 c. A¢tlvitle8 lor achi•vlng obJectlv031aontinued) WOMEN'STEC Newry This year, we achieved a signific£nt milestone for the organisation. In November 2022, WOMEN'STEC opened 8 second workshop unit in the Newry City, located in Whitegates Business Park n6Xt door to our p8rtner, Bolster Community. This was mada possible through a contract with CTS Projects, where WOMEN'STEC and Bolster Community partnered together to deliver a social value initiative for CTS through a maintenance contract with the Housing Executive for the Newry, Mourne and Down region. Together, this collaboration aimed to address issues of rural isolation, lack of opportunities for women and girls and empower women and girls with confidence, skills and motivation to thrive in their homes and personal lives, be opened up to new opportunities in various careers and increase employability and skills. To deliver and coordinate on the programmas targeted at rural women, w8 employed a Newry Co-ordinator to engage, recruit, support and deliver the programme of work. Whilst this contract enabled us to open a second base and expand our programmes and servic8s in the region we also used this opportunity to adapt our deliv8ry to enable us to deliver DIY courses in the rural towns and villages across N8wry, Moume and Down. This meant investment in new tools, equipment and benches that could b8 transported to local community centres, sports halls and schools. This enabled us to bring our b8SIC DIY courses out into rural areas and engage women who are isolated and less likely, or in some cases, limited through lack of Iravel accessibiltty, to come into Newry City to our workshop, This was another significant stepping stone in 8xpanding our programm8s and s8rvices across Northem Ireland. The contract enabled us to pilot and lest how this would work and prepare us for future plans across other areas of Northern Ireland. Overall, 266 women and girls engaged in DIY and Construction skills training, personal development and wellbeing programmes, school engagement taster activities 8nd careers in construction educational programmes.
NotJustForBoy8 Champlons Inltlattve
On 31 St M8rch 2022, our #NotJustForBoys Champions Initi8tive was fomially launched. 2022-2023 saw the first year of this new strategic initiative, aimed at working collaboratively with indusiry companies on our mission to support women to t8ke gre8ter advantage of opportunities in sectors where women are under-represented, including sectors such as construction, IT, mechanics, manufacturing. In its first year, 15 companies committed to supporting this mission, providing us with unrestricted income but more importantly, providing us with opportunities for our students in undertaking site visits, supporting projects, donating materials and giving time from female role models. This is significant progress in gamering the support from the industry who are committed to improving diversity and equality and incr88sing the representation of women within these sectors. Other activltles With a successful year of growth and development. including new staff and programm8S, there was a need to creale a senior management team in line with increased activities, reporting and management. The senior management team, consisting of th8 Chief Executive, the Head of Operations and Development and the Head of Finance and Resources, meet monthly and line management responsibilities have changed. With a previously flat organisation structure, these new roles provide better organisation of responsibilities and a better staff management structure to provide better support for staff. This reflects our growth over the last year and establishes an improved structure for building on thi5 gr0h to continue delivering our strategic priorities. We also introduced a new Communications and Partnerships Officer role to take responsibility for communications, marketing, social media, and our partn8rships with #NotJustForBoys Champions. During this year, we also secured a new board member with finance experience. We ¢ontinu6 to house and manage the work of the Northern Ireland Women's Budget group, mentor grantee organisations on the CDHN Elevate Mentoring programme, be represented on the Greater North Belfast Women's Forum, advise on the Rank Foundation's RankNet Leaders Action Group, sit on the DfE Skills Strategy sub-committee on Equality, Diversity and Inclusion, sit on the Urban Villages Referen Group, and work alongside our partner organisations on the Women's Regional Consortium fvnded through the Regional Infrastructure Support Programme. Page 6
THE WOMENS TEC (TRAINING, ENTERPRISE & CHILOCARE CENTRE) (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Achlevoments and porformanco Between April 2022 to March 2023, 230 women engaged with our HER Space Connect 4 Women {wfEC's delivery), Urban Villages Prcoramme, Sustaining Tenancies, PASSlpathways, Building Independen Programme and wfEC Newry (women retumers) and 320 girls engaged with the #NotJustForBoys Programme. During this year, 36 women gained employment, 30 women progressed to further traininglvolunteering 8nd 38 women gained accreditation. For our women Trturner programmes, 100% felt th8ir confidence had increa88d, 100'k felt their wellbeing had improved, 900A gained new skills and knowledge, and 820k felt they moved positively towards meeting their goals. In the Newry, Mourne and Down region, 98% felt they were better off from taking part in our programmes. For the #NotJustForBoys programme, 480A of the summer scheme students ar8 now very interested in a carear in construction and 80% of the Girls into Construction day attendees are now interested in a career in construction. During this year, we received a basic SROI evaluation through an initiative with Rural Community Network Nl & Work West, using the Social Value Engine to identrfy a moneiary value to represent the social impact created through our women returners, programme. This showed that for every £1 invasted, £4.31 of social and economic value is returned. lIst this is a great retum, we r8cognise some limitations of the ev8luation where more data is requir6d for a more detailed and accurate assessment. Regardless, this gives us confidence that the work we are delivering is providing further impact in social and economic temis. Online engagement continues to increase our profile and influence. Our over811 social media follower growth increased by 18Dh. Our F8cebook profile grew by 200A, Instagram by 180A, Twitter by 11 % and most significantly, our Linkedln engagement, utilised for targeting our corporate, industry, funders and other partnerships, incr88sed by 101'A. Page 7
ThE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Flnanclal r•vi•w The Financial Statements deal with all the income and expenditure of the charitable company, as well as its financial position at the year end. The results for the year and the financial position were considered satisfactory by th8 trustees. At 31 March 2023, total charity funds were £391,598 (2022.. £367,883), of which £235,439 were unrestricted (2022: £207,156>. Overall, reserves increased by £23,715, £28,283 of which were unrestrict8d (2022.. £89,362 decrease). All monies received supported key objectives of the charitab18 company, funding charitable activity costs, both direct and support. . Golng conoem After making appropriate enquiries, the trustees hsve a reasonable expectation that th8 charitable company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding th8 adoption of the going concern basis can be found in the accounting policies. b. Reserves Pollcy The trustees, policy is to retain a level of free reserves which matches the needs of th8 organis81ion both at the current time and in the foreseeable future. The charitable company has d8V81oped a plan to establish and maintain an agreed level of free réserves of £184k to cover 3 months, sary and core running costs, a redundancy pay reserve and a reserve for final audit fees, leasing charges and other conlingencies as at 31 March 2023. Imiilst actual unrestricted reserves at 31 March 2023 were £235,439 (2022.. £207,156), £30,000 was designated for future capital spend and £3,373 was tied up in fixed assets, leaving free reserves of £202,066 {2022. £204,274) The ch8ritable company will continue to monitor compliance with this policy on a regular basis and the Board will review the appropriateness of the policy annually. o. Prlnclpal fundlng The principal funding of the organisation derived from an anonymous Priv8te Foundation, The National Lottery Community Fund, The Executive offi (Urban Villages), Department for Communities IRISP), European Soci81 Fund, The Rank Foundation, Nationwide Building Society, Belfast City Council, Community Foundation for Nl, Community Development Health Network, Construction Industry Training Board Nl, Northern Ireland Housing Executive, BBC Children in Need, Women Thrive Fundlsmallwwd Trust, LFT Charitable Trust, Esmee Fairbairn Foundation and Garfield Weston. Page 8
THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Structure, governance and management Constitution Th8 company is registered as a charitable company limited by guarantee and was set up by a M8morandum and Articles of Association. The charitable company is constituted under a Memorandum and Articles of Association and is a registared charity, number NIC100185. The principal object of the charitable company is to provide advanment of education and the prevention and relief of poverty and unemployment amongst people and in particular women and young girls primarily in Northern Ireland and also elsewhere. b. Publlc Beneftt Statement The trustees h8ve complied with the duty to have du8 regard to the Charily Comm ission for Northem Ireland's statutory guidance on the public benefit requirement issued under the Charities Act (Nl) 2008. The direct benefits accruing from our purposes as noted by the Charities Commission in Northern Ireland include.. Students gain qualifications and practical skills., Students experience height8ned self-esteem and confidence enabling them to move foNard into further training and 8ducation or employment., Students &nhanc8 their employabilily, increasing their opportunities to move into further training and education or employment,. and Students are better equipped to move into paid employment, therefore increasing their economic security. There have been no changes in the objectives since the last annual report. . Governan¢e and m•thod8 01 appolntment or •l•¢tlon af trustees The m8n8gement of the charitable comp8ny is the r8sponsibility of th8 trustaes who are elected and co-opted under the tenns of th8 Articles of Association. Day to day man8gement was delegated to the CEO, Lynn Carvill, whose salary is set by the Board. Other employees are paid in accordance with the National Joint Council (NJC} for Local Govemm8nt Services Payscales. d. Risk management The trustèes have assessed tha major risks to which the charitable company is exposed, in particular those related to the operations and finances of the charitable company and are satisfied that syst8ms and procedures are in plac8 to mTrligate our exposure to the major risks. Funds hold as custodlan No funds are held as custodians. Page 9
THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) TRUSTEES. REPORT(CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Plans for future riodS After a successful year of growth and development, guided by our strategic plan, key activities for growth and development during 2023-2024.. Having successfully secured £872K from the UK Shared Prosperity Fund to deliver a partnership programme, 'Building Futures,, with Bolster Community and Women in Businéss Nl, this year will focus on establishing and d81ivering year one of the tWO-y8ar programme Consolidate our presence in Newry through the Building Futures programme and the Promoting Opportunities Programme.. #NotJustForBoys Having Ljndertaken a strategic planning process between June 2023 and September 2023 and launching our new strategic p18n, the key slrategic priorities for WOMEN'STEC over the next 2023-2027 period.. Deliver high quality training progr8mmes to enable women to develop confidence and skills and build successful careers, particularly in industries where they are under-repr6sgnted. To work wrth girls to increase awareness of career stereotypes and opportunities in industries where women and girls are under-r8presented, particularly construction. Work with employers and industry bodies to promote a diverse and inclusive workforca and workplace. Contribute to th8 development of govemment policy and practice in support of WOMEN'STEC mission. Ensure the organisation has the appropriate data and analysis to operate effectively and continuously improve. Ensure the organisation has the prem ises and other t8chnical and physical resources to achiev8 its aims and objectives and these are eff8ctlV8ly maintained and managed. Ensure the organisation has the staff to achieve its aims and objectives and these staff are effectively supported, managed and have the opportunity to develop. Ensure WOMEN'STEC has the financial resources it needs to achiev8 its aims and objectives and these resources are effectively planned, managed and reported on. Ensure WOMEN'STEC effectively communicates with 811 its stakeholders. Ensur8 the governance of WOMEN'STEC complies with the requirements of the law and best practice. Continue to grow tho #NotJustForBoys Champions network to increase support from relevant industries Undertake research into women's eXperIenS in entering, working and leaving the construction sector to better understand the barriers, retention issues and other areas in which we can work collaboratively with the sector to improv& Increase our organisation's capacity to work on a cross border basis through a new project with the Centre for Cross Border Studies and Creative Spark (Dundalk) Celebrate the 25 anniversary of WOMEN'STEC Develop our offering to the construction sector to support companies with the delivery of social value initiatiV8S Within public contracts Increase our capacty to meet and deliver on the level of growing need and demand for our programm8S and services Page 10
THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Statsment of trustoes. r•sponslbllltles The trustees {who are also the directors of the ch2ritable company for the purposes of company law) are responsible for preparing th8 Trustees, report and the financial statements in accordance with applicable law and Unlted lQngdom Accounting Standards (United Kingdorn Generally Accepted Accounting Praclice). Company law requires the trustees to prepare financial statements for each financia5 year. Under company saw, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming reSoUrS and application of resour$, including its income and expenditure. for that period. In preparing thesa financial statements, the trusleos are required to.. select suitabla accounting Fyolicies and th8n apply them consistently,. observe the methods and principles of the Charities SORP 2019 (FRS 102)., make judgments and accounting estimates that are reasonable and prudent., stat8 whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company Will thniift-ue IN operation. The trustees ara responsible for keeping adequate accounting records that are SLrficient to show and expl8in the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of th8 charitable company and enable them to ensure that the financlal statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financi81 Information included on the charitable company's website. Dlsclosurn of Infomiatlon to audltor Each of the persons who is a tnjstee at the time when thls Trustees, Report 18 approved has confimied that.. so far as that trustee is aware. there Is no relevant audit information of which the charitable company's auditor is unaware. and that trustee has taken all the steps that ought to have been taken as a trustee in order to be aware of any relevant audit information and to establish that the charitable company's auditor is aware of that information. Audltor The charitabl8 company tendered for auditors. Grace Tagg8rt of CG Taggart Accountancy SerViS, was appoint8d for a p8riod of 3 years: years end8d 31 March 2021, 2022 and 2023, with a potential extension of one year to 31 March 2024. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 20C relating to small companies 8nd was approved by order of the members of the board of trustees on 8 December 2023 and signed on their behalf by- Sylvia Gordon Page11
INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) Oplnlon I have audited the financial statements of The Womens TEC (Training, Enterprise & Childcare Centr8) (the 'charitable company,) for the y@ar ended 31 March 2023 which comprise the Statement of financial activities, the Balan sheet, the Statement of cash flows and the related notes, including a summary of signrficant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). In my opinion the financial statements.. give a true and fair view of the state of the charitable company's affairs 8s at 31 March 2023 and of its incoming r8sourcas and application of resources, including ils income and expgnditure, for the year then ended., have been properly prep8r8d in accordance with United Kingdom Generally Accèpted Accounting Practice. and have been prepared in accordanGe with the requirements of the Companies Act 20C6. Basls for oplnlon I conducted my8udit in accordance With International Standards on Audiling (UK) (ISAS (UK)) 8nd applicable law. My responsibilities under those standards are further described in the Auditors, responsibilitiesfor the audit of the financial statements section of my report. l am independent of the charitable company in accordance with the ethical requirements that are relevant to my audit of the financial statements in the United Kingdom, including the Financial R8POrting Council's Ethical Standard, and I have fulfilled my other ethical responsibilities in accordance with th8s8 requirements. I believe that the audit evidence I hav6 obtainad is SLrfFicient and appropriate to provide a basis for my opinion. Conoluslons ralating to golno concern I have nothing to report in respect of the following matters in relation to which the ISAS (UK) requira me to report to you where.. the trustees, use of the going concern basis of 8ccounting in the preparation of the financial statements is not appropriate; or the trustees have not disclosed in the financial statements any identrfied material uncertainties that may cast signrficant doubt about the charitable charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. Other Infonnatlon The other information comprises th8 information included in the TrustoÉs' Report and Financial Statements, other than the Financial Statements and my Auditor's Report thereon. The trustees are responsible for the other information contained within the Report of the Trustees and Financial Statements. My opinion on the financial statements does not cover the other infomiation and, except to the extent otherwis6 explicrtly stated in my report, I do not express any form of assuran conclusion thereon. My responsibility is to read the other infomiation and, in doing so, consider whether the other information is materially inconsistent with the financial statements or my knowledge obtained in the audit or otherwise appears to be materially misstated. If l identify such material inconsistencies or apparent material misstatements. l am required to determine whether this gives riso to a material m isstatement in the financial statements themselves. If, based on the work I have perfomed, I conclude that there is a material misst8t8ment of this other infomiation, l am required to report th8t fact. I have nothing to report in this regard. Page 12
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OFTHE WOMENS TEC {TRAINING, ENTERPRISE & CHILDCARE CENTRE) Oplnion on othor matters prescrlbed by the Companles Act 2006 In my opinion, based on the work undertaken in the course of the audit: the infomiation given in the Trustees, report, incorporating the directors, report, for the financial year for which th8 financial statements are prepared is consistent with th8 financial statements. the Directors, report has been prepared in accordance with applicable legal requirements. Mattars on whlch wo are rnqulred to report by •xceptlon In th8 light of the knowledge and understanding of the charitable company and its environment obtained in the course of th8 audit, I havg not identified materi81 misstatements in the Directors, report. I have nothing to report in respect of the following matters in relation to which Comp8nies Act 2006 requires m8 to report to you if, in my opinion- adequate accounting records hava not been kept, or returns adaquate for my audit h8ve not been received from branches nol visited by me; or the financial statements are not in agreement with the accounting records 8nd retums; or certain disclosures of trustees, remuneration specified by law ar8 not made., or I have not received all the information and explanations I require for my audit; or the trustees were not entitled to prepare the financial statements in accordance with th8 small companies regime 2nd take advantage of the small companies, exemptions in preparing the Trustees, report and from the requir8ment to prepare a Strategicreport. R•sponslbllltlo8 of trustoes As explained more fully in the Statement of Trustees, responsibilities set out on page 11, the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give 8 true and fair view, and for such inlemal control as the trustees determine is necessary to enable th8 preparation of financial statements th8t 8r8 free from material misstatement, whether due to fraud or error. In preparing the financial st8tements, the trustees 8re responsible for assessing the charitable company's ability to continue a5 a going concern, disclosing, as applicable, matters related to going conrn and using th8 going concern basis of accounting unless the tnjstees either intend to liquidate the charitable company or to ase operations, or have no realistic altarnative but to do so. Page 13
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OFTHE WOMENS TEC ITRAINING. ENTERPRISE & CHILDCARE CENTRE) Audltors. responslbilities for the audlt of the financial statements My objectives are to obtain reasonable assurancé about whether the financial statements as a whol8 are free from material misstatement, whether due to fraud or error, and to issue an Auditors, report that includes my opinion. Reasonable assurance is a high level of assuranc&, but is not a guarantee that an audit conducted in £ccordance with ISAS {UKI will always detect a material misstatement when it exists. Misslatements can arise from fraud or erTor and are considered material rf, individually or in the aggregate, they could reasonably be expected to Influen the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. I design procedures in line with my responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this 8ngagement and the extent to which thes6 are capable of detecting irregularities, including fraud is detai18d below.. Obtaining an underslanding of the significant18gal and r8gulatory framework applicable to the charitable company and how the charitable company is complying with that framework., Assessing the susceptibility of the charitable company's financial statements to material misstatement, including how fraud might occur,. and Ensuring competence and capabilities to identify or recognise non-compliance with laws and regulations are m8intained. Because of the inherent limitations of an audit, there is a risk that I will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflectad in the financial statements, as I will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concaalment, forgery, collusion, omission or misrepresentation. A further description of my responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. Auditor's report. This description foms part of my Uso of my report This report is made solely to the charitable company's members, ss a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. My audit work has been undertaken so that I might state to the charitable company's members those matters l am required10 Slate to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, I do not accept or 8ssume responsibility to anyone other than the charitable company and its members, as a body, for my 8udit work, for this report, or for the opinions I have formed. C Grace Taggart FCA for and on behalf of CG Taggart Accountancy Servlces, Statutory Audltor, 17 Cypress Crescent, Donaghadee, Co Down, BT21 OQG enlor statutory audltor) CG Taggart Accountancy Services is eligible to act as an auditor in temis of s8Ction 1212 of th8 Companies Act 2006. 8 December 2023 Page 14
THE WOMENS TEC (TrAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023 Unrestrlcted funds 2023 Rostrlctsd funds 2023 Total funds 2023 Total funds 2022 Noto In¢ome trom: Donations and legacies Charitable activilies Other trading activities 166,707 33,207 4,563 40,630 430,686 207,337 463,893 4,563 5T,083 394,051 10,200 Total Incom• Expendlture on: Charitable activities 204,467 471,316 675,783 461,334 174,679 4T1,389 662,068 550,696 Total •xpendlture 174,679 477.389 652.068 550, 696 Net Inoomol(expondltur•) lor year 29,788 (6,073) 23,716 (89,362) Transfers be88n funds 21 11,606) 1.606 Net movement In funds 28,283 (4,568) 23,715 (89,362) Reoonclllatlon of funds: Total funds brought forward 207,156 160,727 367,883 457,245 Total funds carrled forward 235.439 156,159 391,698 367, 883 Th8 above amounts relate to continuing operations of the charitable company. The Statement of financial activities includes all gains and losses recognised in Ihe year. There Is no differen betsveen Ihe net income for the period stated abov8 and its historical cost equivalents. The notes fomi part of thes8 financial statements. Page 15
THE WOMENS TEC {TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited byguarantee) REGISTERED NUMBER. N1034272 BALANCE SHEET AS AT 31 MARCH 2023 2023 2022 Not¢ Flx¢d assets Tangible assets 16 25.105 25,866 Current a8sets Debtors Cash at bank and in hand 17 86.737 341,641 50,428 351,089 427,378 401,517 Creditor5-. amounts falllng due within one year 18 (60,886) (59,500) N•t curr•nt a65gts 368,493 342,017 Total 28$•ts1•8s curr•nt Ilabllltlos 391,698 367, 883 Total net assèts 391,698 367,883 Charlty funds Restricted funds Unrestricted funds- general Unrestricted funds - designated 21 21 21 156,159 205,439 30.000 160, 727 207, 156 Total fund8 391,598 367, 883 The trustees acknowledge their responslbilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entiti&s subject to the small Gompanies, reglme. The financial statemants were approved and authorised for issue by the trust8es on 8 December 2023 8nd signed on their behalf by.. Sylvla G on Andrea Morrow Then es for part of these financial statements. Page 16
THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) {A company limited byguarantee) STATEMENTOF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Net cash (out)Ilnflow from operatlng actlvltlos 23 (401) (79,070) Cash flows from Investlng actlvltlos Purchase of tangible fixed assats 16 (11,096) {3, 680) Not oash us•d In Investlng aotlvltl•8 (11,0%) (3,680) Cash flows from financlng aotlvlt1•8 Repayments of borrowing 24 2.049 (4, 665) Nel cash outriows Ir¢)m tlnanclng actlvltlos 2,049 (4,665) Net (decrease>fincrease in cash and cash equivalents in the year {9,448) (87,415) Cash and cash equivalents at 1 April 2022 361,089 438,504 Cash and ¢ash •qulval•nts at 31 March 2023 341,641 351,089 The notes fomi part of these financial statements. Page17
THE WOMENS TEC {TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 General Inforniation &1ogal status The Womens TEC (Training, Enterprise & Childcare Centre), (WOMEN'STEC), is a private charitable company limited by guarantee. The charitable company was incorporated in Northern Ireland with the charitable company number N1034272. The registered office address and principal place of business is 29 Chichester Avenue, Belfast, BT15 SEH. The principal activity of the charitable company is to relieve poverty and advance education, specifically for femalas who are socially and 8conomic8lly disadvantaged In Northern Ireland. In the event of the charitable Company being wound up, the liability in respect of the guarantee is lim ited to £1 per member of the th8rity. Summary ol Slgnlflcant Accounting poliel•8 The signrficant accounting policies adopted, judgements and key sourc8s of estimation uncertainty in the preparation of the financial statements are set out below. These policies have been consistently applied to all periods presented unless othetwise stated. 2.1 Basls of pr•paratlon of flnanclal stat•rnents Th8 Womens TEC ITr8ining, Enterprise & Childcare Centr6) constitutes a public benefii entity as defined by FRS 102 and its operations and principal activities are disclosed in the Trustees, R8POrt. The financial statements have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Ch8rities.' Statement of Recommended PractlC6 applicable to charitl8S preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021, applicable charity law, the Companies Act 2006 and UK Generally Accepted Accounting Practic8. The financial ststements are presented in sterling, the functional currency of the charitable company. Asseis and liabilities are initially recognisad at historical cost or transaction value unl8s8 Otherwise stated in the relevant accounling policy note. 2.2 Pr•paratlon of tho acoounts on a going ¢onc•m basls The charitable company continues to adopt the going concem basis in preparing its financial statements as th8 trustees are of the view that the immediate future of the charitable company for the n8Xt 12 months is secure and on this basis the assessment of the twstees is that the charitable company is a going concem. The trust&es have a reasonable expectation Ihat the charitabl8 company has adequale resources lo continu6 in operational existence for the foreseeable future. 2.3 Fund accountlng Unrestricted funds are available for use at the discretion of the trustees in furtherance of the purposes of the charitable company. Designated funds are a sub-group of unrestricted funds relating to funds which trustees have earmarked for a particular future project or commitment. Restricted funds are funds which the donor has specified are to be solely used for particular areas of the charitable company's work or for specific projects being undertaken by the charitable company or which have been raised by the charitable company for particular purposes. The cost of raising and adm inistrating such funds are charged against the specifsc fund. Page 18
THE WOPJIENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies(contlnued) 2.4 Income rQonItion pollcl•s All income, including legacy income, is recognised once the charitable company has legal entitlement to the incomè, any perfomiance conditions attached to th8 Item of income have been met or are fully within the control of the charitable company, it is probable that the income will be received and the smount of income receivable can be measured reliably. Income is deferred only when the charitable company has to fulfil conditions which ara not fully within its control before being entitled to it or where the donorlfunder has specified that the income is to be expended in a future period. 2.6 Expendlture recognition pollcies and Irrecoverable VAT Expenditure is recognised on an accruals basis once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings.. Charltable activitles: include the direct costs of programm8s and activities undertaken to furth8r the purposes of the charitable company and their associaled support costs, including govemance costs. Support costs are those costs incurred in support of direct expenditure on the objects of the charitable company and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the charitable company and compliance with constitutional and statutory requirements. The analysis of these costs is included at notes 7 - 9. All 8xpenditur8 is inclusive of irrecoverable VAT. 2.6 Employee benefits en employees have rendered servic8 to the charitable company, short-term employee benefits to which the 8mployees are entitled such as paid annual leave, 8re recognised at the urKYiscounted amount expected to be paid in exchange for that service. The ch8ritab18 company operates a defin8d contribution plan for the benefit of its employees. Contributions are expens8d as they become payable. Page 19
THE WOMENS TEC (TrAINING, ENTERPRISE & CHILDCARE CENTRE) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting policieslcontlnued) 2.7 Tangible fixed assets and depréciation Tangible fixed assets are capilalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially r8cognised at cost. After recognition, under the cost model, t8ngibl8 fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to 8llocat8 the cost of tangible fixed assets less their residual value over their estimated useful lives, Depreciation is provided on the following basis.. Workshop & office equipment _ 250A straight line 2.8 Debtors Trade and oth8r deblors are recognised at the settlem8nt amount after any trade discount offered. Prepayments 8re valued 8t the amount prepaid net of any trade discounts du8. Any losses arising from impairment are recognised in expenditure. 2.9 Cash at bank and In hand Cash 8t bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar 8ccount. 2.10 Impaimient Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to Ihe carrying amount. Where the carrying amount exceeds its recoverable amounl, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impaimient loss is a revaluation decrease. 2.11 Liabilities and provisions Liabilitlos and provisions are recognised when Ihgre is an obligation at the Balance sheet date as a result of a pasl event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities and provisions ar8 r8cognised at the amount that the charitable company anticipates it will pay to settle the debt or the amount it has reiVed as adVand payments for the goods or services it must provide. Provisions are measured at the best estimatè of th8 amounts required to settle the obligation. Where the effect of the time value of money is malerial, the provision is based on the present value of those amounts, discounted at the pre-lax discount rate that reflects the risks specrfic to the liability. The unwinding of the discourrt 13 recognised in the Statement of financial activities as a finan cost. Page 20
THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting pollcles{contlnued) 2.12 Financlal instruments The charitable company only has financial assets 8nd financial liabilitie5 of a kind that qualrfy as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequ6ntly measured at amortised cost using the effectiv8 interest method. 2.13 Crltlcal accountlng Judgem8nts and estimation uncertainty Estimates and judgemènts are continually evaluated and are based on historical experience and other factors, including expectations of future 8V8nts that are believed to be reasonable under th8 circumstances. There are no critical judgements in applying the company's accounting policies. There are no critical actt)unting estimates and assumptions. Page 21
THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Income from donatlons and lagacles Unrestrfcted funds 2023 Restrfcted funds 2023 Total funds 2023 Gifts Grants 8,347 158,360 1,630 39,000 9,977 197.360 Total 2023 166,707 40,630 207,337 Unrestricted funds 2022 Restricted funds 2022 Total funds 2022 Gifts Grants 70 57,013 70 57,013 Total 2022 57,083 57,083 Analy818 of grants: 2023 2022 Priv8te tharit8bl& trust fund HMRC Job Retention Schame grants LFT Charitable Trust The Rank Foundation Gilbert Ash Garfield Weston Foundation 150,CQO 50,000 7,013 14,000 3,360 5,000 25,000 Total 197,360 57,013 Government grants amounted to £nil (2022 - £7,013) Page 22
THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Income from charltable activltlgs Unrestrlcted funds 2023 Restrfcted funds 2023 Total funds 2023 Primary purpose tr8ding Contractual service level agreements Grants Income from property 23,529 6,000 700 23,529 54A06 382,980 2,978 48,406 382,280 2,978 Total 2023 33,207 430,686 463,893 UnTrslricted funds 2022 Restricted funds 2022 Total funds 2022 Primary purpose trading Contractual service level agreements Grants Income from property 12,866 6,000 3, 966 900 12,866 370,319 374,285 900 Total 2022 23, 732 370,319 394,051 Page 23
THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Income from ¢haritable actlvltles (continued) Analysls of grants 2023 2022 Unrestrlcted: Nl European Social Fund - Department for the Economy - T PASS Total Unrestrlcted 700 3,966 700 3, 966 Restrictsd: TNL Communlty Fund Nl European Social Fund- Department for the Economy - TWN PASS TEO uan Villages- Building Futures & Promoting Opportunities LFT Charitable Trust Department for Communilies IRISP) BBC CIN- Inspiring Futures NIHE- Empowering Tenants BCC- Revenue Nl Women's Budget Group (NIWBG) - Open Society Foundation NIWBG - Joseph Rowntr8e Charitable Trust NIWBG ~ Esmee Fairbaim Foundation The Tudor Trust CITB CFNI - Community Innovators Open College Network- Leaming Leon8fd Cheshire - GradEmployNI The Rank Foundation- Start Here The Rank Foundation - Aspire The Rank Foundation- Profit for Good The Rank Foundation- Time to Shine Community Development & Health NeOrk Women Thrive Fundlsmallwood Trust- Buildlng Independence Programme 118.364 8,071 97,862 29,150 32,387 25,115 10,000 14,624 24,611 15.673 26,111 38,353 9,600 9,000 40,000 3,000 37,000 30,000 15,794 22,969 2.997 4,778 34,000 15,050 7, $90 12,641 12,000 38,022 8,427 9,600 Total Restrlcted 382.280 370.319 Totsl 382,980 374,285 Government grants amounted to £248,159 (2022." £204,328). Page 24
THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Incom• from other trading actlvltles Unrestrlcted funds 2023 Total funds 2023 Room & equipment hir8 4,553 4,663 UnRstricted funds 2022 Total funds 2022 Room & equipment hire 10,200 10,200 Non-exchange tran8actlon$ The charitable company has benefitted from the contribution of unpaid general volunteers. Their contiibution is not accounted for due to the18ck of a reliable basis of measurement. Page 25
THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Expenditure on charitable actlvitles Direct, Includlng Programme & actlvlty costs 2023 Support costs 2023 Total costs 2023 Unrostrlctod 10,921 163,758 174.679 Restrlct•d TNL Community Fund CTS Projects - Newry Community Engagement Nl European Soaal Fund- Dapartment for the Economy- TWN PASS TEO Urban Villages TEO Urban Villages - Building Futures Promoting Opportunities LFT Charitable Trust Department for Communities (RISP) NIHE - Empowering Tenants NIHE- Soci81 Housing Enterprise BBC CIN- Inspiring Futures Awards for All BCC- Revenue Nationwide Building Society Nl Women's Budget Group (NIWBG)- Esmee Fairbaim Foundation The Tudor Trust CITB CFNI - Student Wellbeing Programme Open College Network - Le8ming Leonard Cheshire - GradEmployNI The Ireland Funds The Rank Foundation - Start Here The Rank Foundation - Aspire The Rank Foundation- Profit for Good The Rank Foundation Emergency Fund- safe working The Rank Foundation- Time to Shine Co-operation Ireland Halifax Foundation Women Thrive FundlSm8llwood Trust- Building Independence Programme Garfield Weston Foundation 96,267 41,1tK) 15,108 4,339 111,375 45,439 8,071 4,148 21,775 10,669 11,413 6,938 5,061 28,969 175 1,861 3,647 8,246 6,009 25,422 10,669 15,673 8,306 5,061 31,217 1,349 9,500 31,478 34,970 4,260 1,368 2,248 1,349 9,434 6,590 7,719 66 24,888 27,251 142 19,923 511 3,692 83 653 23,615 83 1,750 4,778 262 27,292 10,080 3,322 143 15,595 950 2,428 29,224 1,750 4,778 201 26,497 7,808 2,677 61 795 2,272 645 143 42 950 2.428 1,016 15,552 28,208 12,500 12,500 Total Restrlcted 4,652 70,737 477.389 Total 2023 417,573 234,495 652,068 Page 26
THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Expenditure on charitable activities (contlnued) Prior period Dlrect, Includlng Programme & a¢llvlty Costs 2022 Support costs 2022 Total costs 2022 Unrastrletfjd 84,503 96,989 181,492 R•strlct•d TNL Community Fund Nl European Social Fund - Dep8rtment for the Economy - TWN PASS TEO Urban Villages TEO Urban Villages- Building Futures Promoting Opportunities LFT Charitable Trust Department for Communits'es (RISP) NIHE - Social Housing Entery)rise BBC CIN- Inspiring Futures Awards for All BCC - Revenue Nationwide Building Society Nl Women's Budget Group (NIWBG) - Open Society Foundation The Tudor Trust CITB CFNI - Student Wellbeing Programme CFNI - Community Innovalors The Ireland Funds The Rank Foundation- Profit for Good The Rank Foundation Emergency Fund - safe wot*ing The Rank Foundation- Tim& to Shine Community Development & Health NeOrk Co-operation Ireland Halifax Foundation Women Thrive Fundlsmallwood Trust- Building Indgpondence Programme 104,689 6,427 28,180 4, 163 1,845 3,627 32,343 1,845 24,538 7,500 14,624 4,939 18,060 1,440 9,300 13,944 20,911 14,624 4,939 13,456 90 300 12,268 4, 604 1,350 9,000 1,676 24,050 1,227 15,332 980 30,120 1,743 83 25,030 31,347 IT,075 83 10.000 T,324 12,846 144 5,473 8,057 949 2,429 8, 796 10,000 7.080 12,204 642 144 382 87 949 2,429 998 5,091 7,970 7,800 Totsl Restricted 86.117 369,204 Total 2022 367,590 183, 106 5&),696 Page 27
THE WOMENS TEC (TRAINING. ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarante6) NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 MARCH 2023 Support costs 2023 2022 Staff costs General Rent Light & heat Repairs & maintenance Insurance Motor & travelling costs Hospitality Telephona & intemet Printing & stationery IT support SOfare Photocopier18asing Postage Depreciation. Finance out80urcing Legal and professional Bank charges and interest Cleaning Staff training Membership fees Govemance costs (note 9) 132.870 40 101,420 3,030 32,027 2,086 2,308 8,098 3,479 6,539 1,823 2,815 3,981 1,224 1,000 27,664 1,676 2.060 685 3, 168 5, 750 1,236 3,565 2,617 1,210 72 10,931 7,200 219 939 3, 780 1.635 765 5.514 11,867 6,600 931 6,392 4.283 1,296 4.219 234,495 183, 106 Gov•rnanc• ¢osts 2023 2022 Auditor remuneration HR Consultancy Legal & professional fees 2,210 275 1,720 224 1,734 3,570 4.219 5,514 Page 28
THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 10. Net Incomel(expendlture) for the year This 15 Stated after d)argingl(crediting)". 2023 2022 Auditor's remuneration - audit tax Depreciation - tangible fixed assets Operating lease rentals 2,150 60 11,857 8,269 1,660 60 10.931 6.239 11. Analy818 of staff costs and trustees. remuneratlon and beneflts 2023 2022 Wages and sal8ries Social security cosls Employers contribution to dafined contribution pension 8chemes Other employee benefits Mov8ment In liability for untaken annual leave entitlement 367,862 28,703 21,212 3,360 300,594 23,123 17,832 6,502 (1,495) 416,629 340,054 The HMRC employer PAYE reference in respect of The Womens Tec's employees was in the name of Women'stec Non-Traditional Occupations Ltd, a domiant company. This was an unintentional mix-up on registration and HMRC has been informed. The Womens Tec paid the HMRC liabilits'es in respect of its employees each month. The average head count during the reporting period was as follows: 2023 2022 Dir8Ct and Support 19 17 One employee reived employee benefits (excluding employer pension costs) of between £60,000 and £70,000 in the year en¢Jed 31 March 2023 (2022: nll). Key management personnel received £142,431 in the year ended 31 Marth 2023 (2022 - £61,352). The increase from the previous year refiects the formation of a new core management team following a management restructure. During the year, no trustee reiVed any remuneration or other benefits (2022 - £NIL). During the year ended 31 March 2023, one trustee had travel expenses totaling £114 paid for by the charitable company (2022- two trustees, £46). These expenses were incurred in carying out their duties as trustees. Page 29
THE WOMENS TEC {TrAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 12. P•nsion oommitments The charitable company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. The pension charge represents contributions payable by the charitable company to the fund and amounted to £21,212 (2022.. £17,832). 13. Rolatsd party transa¢tions Womens'tec Non-Traditional Occupations Ltd (N1067460) is a dormant private company limited by guarantee with the same registered offic8 address as and common directors with The Womens Tec. Note 11 details an administrative anomaly between The Womens Tec and this other company. There have been no other related party transactions in the r8POrting period that require disclosure. 14. Connect•d Chariti•8 and Joint Arrangemonts Th8 accounts of the charitable company include income and expenditure in relation to connected charities with which it collaborales. As lead partner on the Connect 4 Women programme funded by The National Lottery Community Fund, WOMEN'STEC receives grant monies on behalf of Shankill Women's Centre and Glow. Of the total monies of £118,364 received and accounted for in the year ended 31 March 2023 (2022 - £97,862), £28,331 was due to Shankill Women's Centra (2022 - £29. 773) and £16,406 to Glow (2022 - £17, 566). The Trustees, Report explains that sOurceS were secured for the Northern Ireland Women's Budget Group (NIVVBG) which WOMEN'STEC is incubating. In the year ended 31 March 2023, there was £37,000 of NI)EG income accounted for in WOMEN'STEC accounts (2022.. £43,000). 15. Corporatlon tax The tharitable company is exempt from tax on income and gains to the extent that thesè are applied to its charitable objects. Page 30
THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Tanglble flxed a&sets Workshop and offlce equlpment Cost or valuallon At 1 April 2022 Additions Disposals 44,028 11,096 At 31 March 2023 66,124 D•pr•clatlon At 1 April 2022 Charge for the year Disposals 18,162 11,857 At 31 March 2023 30.019 Net book valu• At 31 March 2023 25,106 At 31 March 2022 25, 866 17. Debtors 2023 2022 Duo wlthin one y•ar Trade deblors Prepayments and accrued income 32.630 53,207 9,930 40,498 85,737 50,428 Page 31
THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A cnmpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Croditor8: Amounts falllng due wlthln ono yoar 2023 2022 Trade creditors Accruals and d8ed income (note 19) Tax8tion and social security Other creditors 32,904 23,187 44,512 12,243 4,794 2, 745 60.886 59,500 19. Doferr•d Income 2023 2022 Deferred Income at 1 April 2022 Resources deferred during the year Amounts released from previous periods 26.211 (25.211) 20. Leasa8 Total future minimum lease payments under non-cancellable operating leases are as follows.. 2023 2022 Not later than one year Later than one and not later than five years 8,673 4,938 6,238 10,571 13,511 16,809 Page 32
THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTREI (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 21. Statement of funds Stat•m•nt of funds - current year 8alanc• at l Aprll 2022 Balanc• at31 March 2023 In¢omo Expendl- Translers ture Inlout Unrestrlctod lunds General Funds Designat8d Funds 207,156 204.467 (174,679) 131,505) 30,000 206,439 30,000 Total Unr•strlct•d Funds 207,166 204.467 {174,679) {1,505) 236,439 Restrlcted funds TNL Community Fund CTS Projects Engagement Newry Community Nl European Social Fund - Department for the Economy - TWN PASS TEO Urban Villages TEO Urban Vi118ges- Building Futures & Promoting Opportunities LFT Charitable Trust Department for Communities {RlSP) NIHE - Empowering Tenants NIHE - Social Housing Enterprise BBC CIN - Inspiring Futur88 Awards for All 8CC- Revenue Nalionwlde Building Society Nl Women's Budgel Group (NIWBG)- Open Society Foundation NIWBG - Standard Life Foundation NIWBG - Joseph Rowntree Relorm Trust NIVVBG - Esmee Faitbaim Foundation The Tudor Trust CITB 7,090 118,384 1111,376) 48,406 (46,439) 14,079 2,967 360 4,443 37 8.071 6,965 25,422 (8,248) (6,009) {26A22) 176 6,338 37 939 2,500 14,000 16,873 38,363 (10,669) (15,673) (8,306) (5,061) (31,217) (1,349) {9,600) 131,478) 5,831 30.047 5.061 6,551 2.699 26,111 1,350 9,600 33,280 32,842 (1,631) 171 32,842 3.278 1,984 3,278 37.000 (34,970) (653) (23,615) (83) 2,030 653 803 22.969 207 364 CFNI - Student weiibeing Programme Open College Network - Leaming Leonard Cheshire - GradEmployNI 165 82 2,997 11.750) 1,247 4,T18 (4.778) Page 33
ThE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 21. Statement of funds {¢ontinued) Stat•ment of funds - current year Balance Balance at31 March 2023 l Aprll 2022 Expendl- Transfers tur• Inlout Income Restrlctsd funds {contlnued) The Ireland Funds The Rank Foundation- Start Here The Rank Foundalion - Aspire The Rank Foundation - Profit for Good The Rank Foundation Emergency Fund safe working The Rank Found8tion- Time to Shine Community Development & He81th Network cOperatIon Ireland 4,083 1262) (27,292) 110,080) 13,322) (1431 3,821 6,708 4,970 1,345 167 34,000 15,060 2,677 310 1,990 7,168 8,427 9,600 (16,696} 9,600 2,690 1960) 1,740 Halifax Foundation Department of For8ign Aff8irs and Trade Women Thrive Fundlsmallwood Trust Building Independence Programme Garfi8ld Weston Foundation Fabrico container donation Total Restrlcted Funds 6,482 7,367 29,224 (2,428) 3,054 7,367 (29,224) 25,01)0 (12,500) 12,500 160,727 471,316 (477,389) 1.505 156,159 Total Funds 367,883 675,783 (652,068) 391,598 Unrestricted funds of £30,000 have been designated for future capital spend. Each of the restricted funds above relates to activities which are key to meeting the objectives of the charitabl8 company. The Trustees, Report gives det8ils of these acts'vities, achievements attained 8nd the perfonnanc8 highlights during the year. Transfers from restricted to unrestricted ndS are in line with conditions18id down by Ajnders. The transfer of £1,631 from the restricted Nationwide Building Soaety fund to unrestncted funds relates to costs, originally classified as unrestricted, now correctly allocated to the restricted fund. The three transfers into restrrctèd funds address funding shortfalls met from unstriCted fijnds. Of the total restricted funds of £1 ,159, £21,732 relates to the net book value of fixed assets. Page 34
ThE WOMENS TEC (TrAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 21. Statement of lunds {contlnu•d) Statem•nt of funds - prlor y•ar 8alanc• at l Aprll 2021 Balance at31 March 2022 Incomo Expendl- Translers tur• inlout Unrestrlctsd lunds General Funds Designated Funds 175,583 105,000 91,015 (76.492) (los,(0) 17,050 20T, 156 Total Unr•8trlctod Funds 280,583 91.015 (181,492) 17,050 207, 156 Restrlctsd funds TNL Community Fund Nl European Sooal Fund - Department for the Economy- TWN PASS TEO Urban Villages TEO Urban Villages- Building Futures & Promoting Opportuniti8S LFT Charrtable Trust Departm8nt for Communitias {RlSP) NIHE- Social Houslng Enterprise BBC CIN Inspiring Futures Awards for All BCC - Revenue Nationwide Building Soci8ty Nl Women's Budget Group (NIWBG)- Open Society Foundation NIWBG - Standard Life Foundation NIWBG - Joseph Rowntree Refom Trust NIWBG- Joseph Rowntree Charitable Trust The Tudor Trust CITB 20,344 97,862 (111.116) 7,090 6, 650 5, 748 29,1 540 24,575 (32,343) (1, 845) (24,538) (3, 107) 350 37 10,000 14,624 ¢7,0) (14,624) (4, 939) (18,060) (1,440) (9,300) (13,944) (25,030) 2,500 10,000 5,061 6,551 2,699 24,611 4, 139 300 47,224 26,872 33,280 32,842 40.000 (9,000) 3,278 1,984 3,278 1,984 3,000 (3.<0) 30,000 15,794 (31,347) {17,075) 653 803 2,084 CFNI - Student Wellbeing Programme CFNI - Community Innovators 248 (83) 165 9.000 1,000 (10,000) Page 35
THE WOMENS TEC (TrAINING. ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 21. Statement of funds (continued) Statom•nt of fund¥ - prior year Balance at 1 Aprfl 2021 Balance at31 March 2022 Expendl. Tran8fers tura Inlout Incomo R•8trlcted funds {¢ontlnu•d) The Irelan(J Funds The Rank Foundation- Profit for Good The Rank Foundation Emergency Fund safe working The Rank Foundation- Time to Shine Community D8velopment & Health Nelworff Co-operation Irel8nd 11,407 8,023 454 (7.324) (12,846) (144) 4.083 2,677 310 7,500 12,641 12,000 (5,473) (8,05T) 7, 168 (3,943) 3,639 (949) 2,690 Halifax Foundation Department of Foreign Affairs and Trade Women Thrive FundISmalOOd Trust Building Independence Progr8mm8 Total Restrlot•d Funds 7,911 7,35T (2,429) 5,482 7,357 29,224 38,022 (8, 798) 176,662 370,319 (369,204) (17,050) 160,727 Total Funds 457,245 461,334 (550,696) 367, 883 Each of the restricted funds above relates to activities which are key to meeting the objectives of the charitable company. The Trustees, Report gives delails of these aGtivities, achievements attained 8nd th8 performance highlights during the year. Transfers from restricted to unrestricted funds are in Ilne with conditions laid down by funders. A management fe8 of £9,000 for the period from October 2020 to March 2022 w8S transferred from Nl Women's Budget Group to Unreslricted funds. A management f@a of £3,107 was transferred from TWN PASS. £3,OCrf) and £3,943 costs, originally classified as unrestricted, were allocated to NIWBG - Joseph Rowntree Charitable Trust and Community Development & Health NeOrk respeth'vély, in line with fundèrs, conditions. £2,000 UnStrICted funds were transferred to The Tudor Trust to meet a funding shortlall. Of the total restricted funds of £180,727, £22,984 relates to the net book value of fixed assets. Page 36
THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 22. Analysls of net assets between funds Analysls of not assets bètw•on lunds - currènt poriod Unrestrlcted funds 2023 Restrlcted funds 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due within one year 3,373 264.342 (32.276) 21,732 163,036 (28,6091 26,105 427,378 (60,885) Total 235,439 158,159 391,598 Analysls of n•t assets betwoon funds - prlor perlod Unrestricted funds 2022 Restricted funds 2022 Total funds 2022 Tangible fixed assets Current assets Creditors due within one year 2,882 237,314 (33,040) 22,984 164,203 (26, 460) 25,866 401,517 (59,500) Total 207,156 160, 727 367, 883 23. R•conclllatlon of In¢om•l(expendlture) to nat cash flow from operatlng actlvltles 2023 2022 Net incomel(expenditure) for the year Add back depreciation charge {InCaSe)1DeCrase in debtors Increasel{decrease) in creditors 23,716 11.857 (35.309) (664) (89,362) 10,931 10,422 (11,061) Net cash flow trom operating activities (4011 (79,070) Page 37
THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 24. Net debt reconclllatlon 2023 2022 Loan at 1 April 2022 Cashflows 2.746 2,049 7,410 (4, 665) Loan at 31 March 2023 2, 745 25. Contlngent Llabllltles A contingent li8bility 8XiSts to repay any grants received should certain conditions not be fulfilled by the chantable company. 26. Capltal Commltments There were no capit81 commitments at th8 balance sheet data. 27. Controlllng Party The Board of Trustees is the ultim8te controlling paty. 28. FRC Ethlcal Standard - Provlslons Avallable lor Audlts for Small Entitle8 In common with many other businesses of our size and nature w8 use our auditor to prepare and submit retums to the tax authorities and assist with the preparation of the financial statements. Page 38