Registered company number: N1034272 (Northern Ireland) Charity Commission for Northern 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 2024 CG Taggart Accountancy 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 2024 Referen¢0 and adminlstrativ• datai18 of Ih•charltablo company, its trustees and advlsers Page Trustees. report 2-16 Ind•p•nd•nt auditor's report on the flnancial stat•monts 17- 19 Statom•nt ol financial actlvltl•8, Incorporating tho In¢om• and •xpenditurfr account 20 Balan¢• shoot 21 Statoment of cash flows 22 Not•s to the financial statomonts 23-43 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 2024 Trustees (directors for Sylvia Gordon, Chalrperson the purposes of company Andrea Morrow, Treasurer (from 31 May 2023) law) Norah Baillie, Treasurer (resigned 31 May 2023) Mlchael Potter Nuala Grifflths Maria Bradley Siobhan Brown Nicola Mccleery Company r•glst•rod numbèr N1034272 (Northern Ireland) CCNI Charlty r•glster•d number NIC100185 HMRC registered charlty number N101295 Prlnolpal op•ratlnq and regl$t•rod offic• 29 Chlchester Avenue Belfast BT15 5EH Company secretary Chiof Executlve Lisa Mccann Lynn Carvlll Independent audltor CG Taggart Accountancy Services 17 Cypress Crescent Donaghad88 Co Down BT21 OQG Bankers Flrst Trust Bank 35 University Road Belfast BT7 1ND Sollcltors Edwards & Co 28 Hill Street Belfast BT12LA Page 1 THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annu81 report together with the audited financial statements of Th6 Womens TEC (Training, Enterprise & Childcare Centre) Ltd {WOMEN'STEC) for the year 1 April 2023 to 31 March 2024. The Annual report serves the purposes of both a Trustees, report and a Directors, report undar charitable company law. The trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommend8d Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102} (effective 1 January 2019). Since 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 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. Objectlves and actlvltles . Pollcles and obJoCtIvo8 Mlsslon: "Enable women and girfs to access careers in industrles wh8re they are under-represented." Vlsion: "An Inclusive, sustainable society and economy where women and girts can reach their full potential and thrfve." WOMEN'STEC is registered with the Charity Commission for Northern Ireland with the following aims: To prevent andlor relieve poverty and advance education and training in Northern Irel8nd' and To provide facilities in the interest of advancing women's Involvement in Sectors of training and employment that have low levels of female participation, specifically women who are socially 8nd economically disadvantaged. The purpose of WOMEN'STEC is the advancement of education and the prevention and relief of poverty and unemployment. in particular of women 8nd girls aged 12 or over living in Northern Ireland. Page 2 THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Objectiv•s and actlvitles (continued) b. Strateg108 lor a¢hl•vlng obje¢tlves During 2023-2024, the strategic objectives as outlined within our 2021-2024 strategic plan, that have driven our annual operational priorities include: Continued development of organlsational resilience and sustainability,. Raise WOMEN'STEC profile and influence. Increase social and cultural impact of WOMEN'STEC programme8' Increase resch of WOMEN'STEC programmes. and Assure corporate governance mechanisms. In April 2023, the staff and board undertook a strategi¢ planning exercise, supported by an 8Xt8rnal consultant to reflect on tha previous strategic plan period. and develop new strategic objectives as the organisation emerged from Covid and into an exciting, new period of growth and development. Whilst our previous strateglc plan was to cover the period until 2024, it was decided that, based on significant changes internally and externally, it was the appropriate time to retlect, review and revise our str81egic objectives. Following an intensive period of strategic planning and stakeholder consultation between April 2023 and August 2023, our new strategic plsn for 2024- 2027 was developed and launched at our 251h anniversary event in September 2023. Our new strategy sets out 10 strategic prioritles that we will work towards over the next four years, building upon the foundations laid during the previous years and embracing a sense of optimism for the future. Our mission is clear.. to enable women and girls to access careers in industries where they 8re under-represented. Our plan is not just a roadmap., it is a living testament to our dedication to cr8ating an inclusive, sustainable society and economy where women and girls can r8ach their full potential and thrive. The 10 strategic priorities that will drive our work over the next four years are as follows.. Tralning of women: Deliver high-quality training programmes to enab18 women to develop the confidence and skills and build successful careers, particularly in industries in which they are under- represented. Tralning of children and young people: To work with girls to increase awareness of career stereotypes and opportunities in industries where wom6n and girls are under-represented, particularly wnstruction. Working wlth employers." Work with employers and industry bodies to promote a diverse and inclusive workforts and workplace. Influencing public policy and practice: Contribute to the development of government policy and practice in support of WOMEN'STEC mission. Research and evaluation: Ensure the organisation has th8 appropriate d8ta and analysis to operate effectively and continuously improve. Premises, technical and physical resources: Ensure the organisation has the premises and other technical and physicAI r8sourcos to achieve its aims and objectives and these are effectively maintained and managed. Human Resources: Ensure the organisation has the staff to achieve its aims and objectivas and these staff are effectively supported, managed and have the opportunity to develop. Finances: Ensure WOMEN'STEC has the financial resources it needs to achieve its aims and objectives. and these resources are effectively planned, managed and reported on. Communications: Ensure WOMEN'STEC effectively communicates with all its stakeholder8. 10. Governance: Ensure the govefflan￿ of WOMEN'STEC complies with the requirements of the law and best practice. Our strategic plan is underpinned by the values of inclusion, equality, empowerment 8nd sustainability. In ansuring we are continually striving to work towards our priorities, we undertook operational planning in November 2023 to identify objectives for the first year of implementation of our strategic plan and will continue this process on an annual basis. Page 3 THE WOMENS TEC (TRAINING. ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 ObJa¢tlv•s and a¢tivltiès (continued) C. Activitles for achl•vlng objèctives In delivering on our strategic priorities, we have three core group8'. women returners, children 8nd young people, and young mothers, which our programmes and services are targeted to in working to achieve our charity's aims 8nd objectives. There are four core programmes that targ8t the three core groups", Connect 4 Women, Sustaining Tenancies, Building Futures and Promoting Opportunities.. #NotJustForBoys. In addition. we delivered additional programmes which align with our aims and objectlV8s and provide additional opportunities for the three core groups. Connect 4 Women This partnership programme between WOMEN'STEC, Glow Nl and Shankill Women's Centre began y8ar four in April 2023. The five-year programme, funded by The National Lottery Communlty Fund, brings together the unique strengths of three women's organisations to provide participants (women return6rs) with activities, s8rvices and support aimed at improving life opportunities for women across north and west Belfast. Participants ar8 offered skills training (accredited and non-accredited in trades 8nd IT), adult learning {essential skills, GCSE Maths and English) and personal development, supported by other complementary courses designed to bolst6r skllls and knowledge. It provides a personalised pathway of training and development in a way that is suited to their needs and personal situations. 8UPPOrting them further with wrap8round services such as childcare, health and wellbeing, and advice and support in accessing further training, employment or volunteering. This year, WOMEN'STEC continued to provide 8 range of construction trades and IT courses for 98 women. Courses included DIY (8ccredited and non-accredited), OCN Level 2 skills in garden horticulture, Introduction to Plumbing, 'Grow your own vegetables,, driving theory, sculpture making with an International Sculpture Artists from Poland snd a range of site visits. A Communlty Services Information Day was held with 10+ lo¢al community services organisations for women to find out more about additional and specialised support that is available withln their communities, including counselling, addiction and advice services. The programme also provides one-to-one support to participants where necessary and this year, there was a significant increase in one-to-one support from the programme coordinator, supporting participants from help with financial distress and emergency situatlons, food bank support and domestic violence and abuse. As the programme enters its fin81 year in April 2024, the partnership continues to engage with externally appointed evaluators who are reviewing 8nd evaluating the programme, with an aim of producing a final evaluation report at the end of year 5, to support the partnership's futures plans for supporting what is viewed as growing need from this target group. Sustaining Tenancies This programme, funded through the Northem Ireland Housing Executive's Sustsining Tenancies programme, entered its second and final year in April 2023. The programme w8s aimed at supporting two cohorts of women annually (women returners and young mothers), living in Housing executive homes to thrive in their home environment and increase their opportunities for life and work that will all contribute to increasing their likelihood of sustaining their tenancies and reaching theirfull potential. Delivery included an 8-week personal development programme. a 10-week home DIY progromme, a 6-week life and employability skills programme, 8nd one-to- one support with issues impacting their tenancies, employment or employability-related support, and emergency crisis support. Additionally, the programme facilitates open dialogue between participants and the Housing Executive, where they can discuss issues around home repairs and connect with their local Patch Manager. This year, the personal development programm8. adopting a holistic and personal approach. covered topics such as habit busting and resilien￿, moving forward financially, socially, emotionally, energetically, relationships, health and family, Relationships what do good and bad relationships look like, Heal Yourself (Louise Hayes) workshops and relaxation techniques. Participants also met with the Housing Executive to find out more about the services they provide. learn about what Maintenan￿ / DIY work they are allowed to carry out in their own homes and to leam about employment and apprenticeship opportunities with the Housing Executive. The 10-week DIY programme delivered to both cohorts was aimed at empowering participants to be confident and to be able to carry out home DIY projects. Topics within this programme included learning how to use drills, hanging shelves and curtain poles, how to fix a leaking tap and bleed a r8diator, tiling both ftoor and walls, wallpapering, repairing p18Ster board and electrics- changing light fittings and replacing sockets. Page 4 THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 c. Actlvltles tor achiovlng objectlves (continuod) Sustaining Tenancies (continued> The participants also completed a personal woodwork project that they could take home, such as planters and coffee tables. The life and employability course aspect of the programme focused more on life skills and included sessions on healthy eating, fermenting foods, growing herbs and vegetables, managing stress and anxiety and household budgeting, and inclLsded a session delivered by the Consumer Council for Nl focusing on how to reduce electricity bills. Additionally, a r8silienc8 and self48fence course was delivered to participants to help them cope with situations such as w81king alone, reading bad behaviour, what to do if feeling unsafe in public. 6 participants slso accessed one to one employability support with WOMEN'STEC'S employability and support officer, undertaking jobs skills training. 5 young mothers on the programme also attended a site visit with our Champion partner, Heron Brothers, to Templemore Avenue Bgths, a local community asset in East Belfast. The site visit occurred to construction st8g8 and enabl6d participants to experience a live building site, understand heritage resloration and learn about careers and employment in construction. Building Futures Partnership Programme WOMEN'STEC, as lead partner, was awarded ovèr £870,000 over 2 years by the UK Government's Shared Prosperity Fund, to deliver a partnership programme with Bolster Community and Women in 8usiness, focused on reducing economic inactivity. This new programme, entitled 'Building Futures,, began in April 2023 and focus8s on women who are economically inactive in the Newry, Mourne and Down and Greater Belfast regions. In year one of the programme. 266 women were eng8ged in courses across DIY l Tr8de8, Personal Development, multiply funded numeracy and business start-up aimed at increasing confidence and employability skills to support women to move closer to employment. The expanse of delivery ranged across a wide geographical area in the Newry, Mourne and Down (NMD) region and greater Belfast, particularly bringing services to women in rurally isolated communitles where fewer opportunitie8 exist for training, support and development. Our partner, Bolster Community, led on the delivery of personal development, IT, work support and numeracy courses, such as Basic Maths for Parents, and M8naging Finances, in the NMD region, whilst Women in Business led on the delivery of business start-up l entrepreneurship cour88s across the progr8mme areas. WOMENS'TEC18d on the delivery of all construction and DIY related ¢ourse8 across the programme and IT and employability support in the Belfast area. Alongside the programme, an important element for participants is access to one-to-one mentoring support from the programme's employability and support officers, one based in WOMEN'STEC in Belfast and one based in Bolster Community in Newry. This support offers tailored personal support to participants to help with their CV'S, interview skills, plans for professional development, identifying areas for developing and supporting them with job search and connections to employers. With this, participants have access to bursary funds that can support them with studying or training for qualifications or certifications that are not offered through the programme but will enable them to pursue their employment goals. The programme will run until March 2025 and aims to 8UPPOrt 420 women over the two-year period. Promoting Opportunities Programme.. #NotJustForBoys Our tlagship youth programme, POP.. #NotJustForBoys, which challenges misconceptions and encourages, empowers and supports young girls to consider career opportunities in sectors where women are under- represented, continued to grow and develop in 2023-2024. Our schools programme continued in 2023. Three primary schools in the Urban Villages area completed 'Undor the Bonnet, car mechanics programme belween April and May, with 82 primary school girls in totsl. Additionally. in partnership with our Ch8mpions 'GEDA Construction., we delivered gender I careers in construction sessions with 27 P7 girls and boys to challenge gender stereotypes in April. Our Homework Club, which meets on a weekly basis, continued to work in partnership with our Champion. JP Corry, on a project to design and build construction toys for local nursery school children. The project was completed in April 2023 and a celebration event was held for the girls with JP Corry to recognise their achievements and leaming over the course of the project. Page 5 THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 c. Activitles tor achlevlng obJectlv•s (contlnued) Promotlng Opportunities Prograrnme: #NotJustForBoys fcontinued) In Aprll, under WOMEN'STEC Newry, #NotJustForBoys delivered a programme of activities to schools and youth clubs in the Newry area, supported by the CTS Projects contract with the Housing Executive. A six-week programm8 was delivered separately in two youth clubs, the Magnet Centre and St John's Bosco to 12-16-year- olds, encompassing basic woodwork skills and a small personal project. A programme of courses, starting in March 23, continued into April delivered to Bolster Community's 'Bolster Go Girls, Youth Club, 8ngaging 22 girls from 11-16 years old who struggle with their mental health. The programme of basic woodwork skills and a personal project helped to grow confidence and self-esteem whilst also increasing awareness of trades and ¢areers in construction. In the summer, tha #NotJustForBoys team delivered four summer Schemes, each spon80red by a #NotJustForBoys Champion. The 'BuildHer' Trades summer scheme was sponsored by Connolly & Fee and focused on basic introduction to construction skills and awareness of construction careers. The participants built their own stud wall which they plastered and decorated, with a few choosing to panel their walls whilst others tiled. The week culminated in a site visit to Connolly & Fee's construction site in Ardoyne Avenue, whera participants were able to see how the skills they learned are put into action on a live construction site and learn about the variety of careers in construction. They explored issues such as gender equalily, apprenticeships and oth8r career pathways. In August, the second summer scheme, 'BuildHer Outdoors, for girls ag8d 13-16 yrs old, W8s sponsored by our Champion, JP Corry. This brought the girls together to learn bssic woodwork and garden construction skills and build outdoor fumiture and a brick BBQ. The week culminated in 8 Site visit to JP Corry to learn about the history of JP Corry, apprentlC8ship$. and the various Supplies used in construction, and included a talk from 8 brick supplier on the making I creation of bricks and how they are used in construction. A third summer scheme, 'Under the Bonnet,, focused on car mechanics and vehicle maintenan¢e and was sponsored by Translink. Participants learned about basic car maintenance, cars and the rules of Ihe road. Th8 week culminated in a field trip to Translink in Great Victoria Street where they learned of the history of Translink, the variety of career opportunities in transportation, had a ride in an electric bus and met Translink's only female heavy vehicl8 mechanic. The fin81 summer scheme 'Newry BuildHer' was sponsorèd by CTS Projects and focused on a basic introduction to construction skills, with particlpants designing, planning and building their own personal projects. BetNeen September and March. #NotJustForBoys ran an enrichment programme for 16-18yr old girls from Mercy College. The programme covered introductions to health & safety, drilling and sawing, and other basic trade skills. They design8d, planned and built projects that they could sell at our Christmas Craft Fair, giving them an opportunity to not only put into practice the basic skills they learned to make products, but also to become their own project managers and learn the basics of entrepreneurship, boosting their confidence in themselves and their abilities. In the final quarter of the year the girls worked on an upcycling programme which provided them with the opportunity to choose their own pieces of furniture to strip back and refurbish to look new. They dèveloped new skills, were Introduced to new techniques and new tools to achieve their own desired pieces. In October, in partnership with Henry Brothers, the #NotJustForBoys team hosted another successful Girls in Construction event in Magherafelt. In November, the programme received new funding from BBC'S Children in Need programme, enabling us to expand the #NotJustForBoys programme to other areas of Northern Ireland as well as expanding collaboration with youth clubs. This started in Newry, working with the EA Girls, Youth Sewice Club on a 6-week woodwork project learning the basic skills ofwoodwork and supporting their confidence and independence whilst designing and building Christmas themed projeGts. Page 6 THE WOMENS TEC (TRAINING. ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 o. Activitles for achievlng obJectlv•s (continuad) Promoting Opportunitles Programme: #NotJustForBoys (contlnued) In February, in partnership with our Champion, the Northern Ireland Housing Executive, the team delivered a 'Try a Trade, day for over 60 schoolgirls and women who came along to take part in practical workshops in a variety of trades, including joinery, electrics, plumbing, bricklaying and mechanics. The aim was to increase 8wareness of careers in trades and highlight the apprenticeship and employment opportuniti88 which exist in these areas within the Housing Executive. In partnership with our Champion, Heron Brothers, the team also held a construction careers workshop with boys and girls in P5 in Draperstown. This event aimed to show the importance of roles in construction, highlight the ro16 of women in construction and break down gender stereotypes. The #NotJustForBoys team also hosted STEM activities and gamés for the students. CBenAct Cross Border Project Lead by the Centre for Cross Bord8r Studies. the CBenAct project brings togeth8r WOMEN'STEC and Creative Sp8rk, Dundalk, to engage on a capacity building programma to 8trengthen the skills, knowledge and resilienc8 of organisations working in psrtnership on a cross-border basis. It aims to embed sn approach to cross-border cooperation that sees it as central to organisations, work rather than ss peripheral to their core missions. Five staff and two board members engaged in a series of workshops and residentials with Creative Spark to explore the skills necessary to deliver cross-border projects, th8 key principles to collaborating on a cross-border basis identify shared issues and challeng8s facing bordercommunities in which both org8nisations work and to identify solutions and actions that can help to build better communities along the border. Through the programme, WOMEN'STEC engaged with women from Lislea and Hilltown, two small communities just a few miles from the border, to engage in community dialogue and a cross border dialogue programme with women from Dundalk. The project used the strengths and skills of both organisations to provide skills in design and DIY to work on practical projects, empowering women with skills that they can use in their own homes and communities, whilst also boosting confidence snd self-reliance, as well as confidence in spe8king with other people and working together as 8 group. The groups came together and discussed challenges and issues facing women and families that are both shared and unique to both Gommunities on 8aGh side of the border. The project continues into 2024-2025. Women's Wellbelng Comrnuntty Pharmacy Project The Women's Wellbeing proj8Ct is delivered in partnership with our local pharmacy, Crossin Chemist, through the Community Development Health Ne￿ork'S Building Community Pharmacy Partnerships programme. The programme offers women engaged on any of our courses an addition81 wellbeing programme to support them with issues and learning of health and wellbeing, adopting a community development approach. The programme involved 14 workshop sessions led by Crossin Chemist, covering topics such as the menopause, f£mily health, role of the pharmacist in the community, drugs and alcohol, sexual health, amongst others relevant to the issues or challenges facing participants. The participants also attended sessions with Aware Nl (focused on ment81 heallh> and Relate Nl (focused on healthy relationships). Furthermore, two sessions also included relaxation techniques and mindfulness to help participants reduco 8treB8 and anxiety. Page 7 THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 c. Actlvlties for achleving objoctlves {contlnued) INCOME GENERATION ACTIVITIES WOMEN'STEC NEWRY We have developed a number of areas which enable us to bring in funds that support the activities of the organisation, whilst also importantly, bolster our r818tionships and partnerships with external stakeholders. WOMEN'STEC Newry was creatod on the basis of a social value initiative under CTS Project's contract with the Northern Iral8nd Housing Executive. This came to an end in Jun8 2023, however involvement in thi8 demonstrated to us the possibilities of generating income and delivering services through social value in public procurement contracts. The ¢ontra¢t enabled us to establish a second workshop base in Newry and expand our programmes and services to many rural communities across the Newry, Mourne and Down regions. It also enabled us to hav8 a pres8nce closer to the border region that enables us to work closer with our partners in Ir618nd and expand the reach of our mission and vision. Mld and East Antrim Borough Councll: Women's DIY Pathway Programme In September 2023, we successfully bid for our first tender to deliver 8 women's DIY pathway programme, contracted by Mid and East Antrim Borough Council and funded by the Department of Communities under the Mid and East Antrim Labour Market Partnership Action Plan 2023-2024. Th8 purpose of the programme was to inspire and increase confid8nce of women who want to re-enter or enter the world of work, encourage greater female participation in traditional trades. provide opportunities for participants to achieve 8ccredit8d qualifications and develop employability skills and create greater linkages between employ8rs, stakeholders 8nd potential 8mployaes. The programme engaged 10 women in introductory DIY I trades sessions, a level 2 accredited training in DIY skills and employability support. As our first contract, il provided us with 8xperience and learning as delivery agents for a PLfblic contract whilst also enabling us to build relationships with stakeholders and partners in the mid and east Antrim area, which has undoubtedly led to other opportunities. Th8 programme was so successful that the contract was extended to deliver a second programme and we ar8 now bidding for further work in this area with Mid and East Antrim Borough Council. #NotJustFor8oys Champions Initiative Our Champions initiative entered its second year, with over 23 priv8te sector businesses becoming #NotJustForBoys Champions, supporting our mission and providing us with unrestricted income. More importantly, the Ch8mpions have been a major driver for us in developing our progr8mmes and operations and supporting more women to explore careers in Industries where women are underrepresented. This has included opportunities for many site visits, supporting the delivery of projects, donating materials and volunteer time particularly from female role models. Four of our Champions, Connolly & Fee, CTS Projects, JP Corry and Translink provided further support through sponsoring a #NotJustForBoys summer scheme, whilst Henry Brothers and the Housing ExecutlV8 SUPPOrted a Newry Girls into Construction Day. Our Patron, Gilbert-Ash, sponsored WOMEN'STEC'S 25th Anniversary event in September 2023. Henry Brothers also hosted a Girls into Construction Day in Magherafelt. bringing the programme to Mid-ulster snd helping to increase awareness and inspire girls to consider careers in construction. In partnership with Heron Brothers, we held an 'lnspiring Future Builders, event in Draperstown, for St Mary's Primary School, aimed at inspiring children, both boys and girls, to explore careers in construction and break down gend6r stereotypes. In collaboration with the Housing Executive, we held a 'Try a Trado, day at WOMEN'STEC Belfast for secondary school students and women. In partnership with Translink and Vix, we held a Women in Transport event for students and staff to explore careers in transportation. JP Corry continued to support ourweekly Homework Club wrth Blessed Trinity College, Belfast donating materials, providing staff. hosting a site visit and developing a community projectwhere the girls project managed the design and constrLfCtion of tool stations and work benches for a local nursery school. CHC Group showcased employment and career opportunities for participants at the launch of our UKSPF funded project, 'Building Futures., Combined Facilities Management (CFM) sponsored a women returners DIY programme for women in the Newtownabbey area. We piloted a gender diversity awareness workshop with the Direct L8bour Org2nisation office for our Champion. Housing Executive. The session was aimed at raising awareness of the potèntial barrier8 that womèn and girls who want to join the construction industry face, to the trades staff who work to deliver repairs and malntenance services to Housing Executive tenants. Page 8 THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 c. Actlvitles for achievlng obJectiv•s (continued) #NotJustForBoys Champions Initiative (contlnued) It IS evident to see the non-monetary value of the partnerships and collaborations over the past 12 months particularly in enhancing the opportunities and experiences for the participants on our programmes. This work contributes significantly to our mission of enabling wom6n and girls to access careers in industries where they are under-r8presented and our vision of an inclusive, sustainabl8 society and economy where women and girls can reach their full potential and thrive. Sales Courses We continue to work on developing our suile of courses available for selling to the public and other Voluntary Community & Social Enterprise organisations. Clanmil Housing has become a significant purchaser of our sales courses, buying DIY programmes to deliver to Clanmil tenants with the aim of increasing confidence, community cohesion, and independence in carrying out home maintenance. We also continu8 to run 6vening and weekend classes available to the gen8r81 public which hèlps to boost our profile and generate some income. In the past year we have also provided courses and programmes for other charities and community organisations. The success of these indicates an opportunity to develop this as an area to bring in further unrestricted income and we will be working to grow this into 2024-2025. W8 contlnu8 to hous8 8nd manage the work of the Northèrn Ireland Women's Budget group, be represented on the Greater North Belfast Women'8 Forum, advise on the Rank Foundation's RankNel Loaders Action Group, sit on the DfE Skills Strategy sub-CL)mmitte8 on Equality, Diversity and Inclusion, sit on the Urban Villages Reference Group, and work alongside our partner organisgtions on the Women's Regional Consortium funded through the Regional Infrastructure Support Programme. Other key notable actlvlties and achlevements After another highly successful year of growth and development, with 8 second workshop in Newry and expanding our delivery into rur81 communit18S across Northem Ireland, we made the decision to invest in the purchasa of a v8n. This enables us to transport our outreach kits, portable workshop benches and materials and equipment needed to bring our DIY and basic trades courses into communities where travel access to our workshops is a barrier for women. This has transformed how we deliver our programme$ and services and enables us to gr68ter work towards our strategic objectives of reaching and expanding our services and programmes across Northern Ireland. In January 2024, with a growing staff team, higher provision of services and programmes and expanding th8 reach of our work, we decided to engage a consultant to undertake an organisational revi8W, Wlth recommendations for staffing structure and management. This identified a ne8d for additional roles to support the level of services we are providing and to en8ble us to continue to expand our services across Northern Ireland, in response to need and demand. These roles include Head of Operations, Finance and Administration Officer, Project Officer. The report also recommended several structural, management and operational recommendations which will be implemented in 2024-2025. Alongside this, a governance review was undertaken with the board to provide recommendations for improving govemance. This year, we welcomed significant visitors to WOMEN'STEC. In March, we were dolighted to welcome the Prime Minister of Kosovo and his delegation to showcase our work and discuss the impact of the role of women in communities in contributing to P68cebuilding. The Prime Minister was visiting Northern Ireland to learn more about post-conflict societies and peac8building and was invited to WOMEN'STEC by Urban Villages who have supported our programmes in North Belfast over the past 6 years. Only a week later. in March. we also welcomed the Secretary of State for Northern Ireland, Chris Heaton-Harris to our workshop in Belfast to showcase our programmes and services, discuss skills and lifelong learning and the barriers for women to participating in the labour market. Page 9 THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 ¢. Actlvlti•s lor aehlevlng objectives (¢ontlnued) Other key notable activltles and achlevements {contlnued) Unsurprisingly, the Cost-of-Living crisis continues to impact the women and girls we work with. In response to this, we established an Emergency Support Fund that is funded by donations from stakeholders who want to support those in need. This fund means we can provide quick, practical support to a woman in an emergency or financial crisis situation, such as purchasing gas or electric or buying food and other essentials that are an immediate necessity. Flnally, in September 2023. WOMEN'STEC held a 25th Anniversary Celebration event at The Mac Belfast, to celebrate 25 years of supporting women and girls. The event, sponsored by our patron, Gilbert-Ash, brought together funders, partners, past and present supporters and other stakeholders to look back, celebrate our achievements, hear about the impact of our work and to launch our new strategic plan for 2024-2027. Guest speakers at th8 event included Dr Jayn8 Brady, Head of the Northern Ireland Civil Service and Ray Hutchinson MBE, MD of Gilbert Ash. Achlovemenls and performance Between April 2023 to March 2024, 259 women engaged with our Connect 4 Women {wfEC's delivery). Sustaining Tenancies, Building Futures, and women's wellbeing programmes and 398 girls engaged with the #NotJustForBoys Programme. During this year, of those who responded to our progression survey. that enables us to see where women progress to upon leaving our programmes and courses, 14.9¥0 Stated they have moved into employment and 58 % have moved on to further educ8tion I training or volunteering, 50 women received an accredited qualification. STUDENT SURVEY Annually, we conduct a student survey that enables us to gain feedback and impact dat8 for our work, including the motlV8tions for women engaging with our programmes 8nd services, the need for different types of programmes 8nd services, the experi@nce of using our services, the impact of our programmes and services and areas of our work that we can improve. A summary of the key findings of the survey are highlighted below: Motivatlons for engaglng with WOMEN'STEC The following reasons for engaging with WOMEN'STEC, selected as 'very important.. are ranked in order of frequency selected (number of students selecting answer): 1. To learn something new {49) 2. To build my contidence (45) 3. To be able to do things around the house (43) 4. To improve my mental health (41) 5. To meet new people137) 6. To gain skills for work (27) 7. To get out of the house (24) 8. To get a qualification (24) 9. To have something to do (22) 10. To make something (22) Page 10 THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achiovemonts and performance (contlnu•d) STUDENT SURVEY (continued) Some comments from students relating to their motlV8tions for engaging with WOMEN'STEC.. "I wanted to do something to help me feel like I was regaining my independence" "All women doing it together- felt more comfortable than going to 8 tech with all boys doing woodwork" "To be able to do DIY and cut down on expens98. Knowledge is powerful. To know what you need done and not be ripped off by tradesmen or male dominated skills who se8 you coming" "Increase my confidence with people" "I want to boost my confidence and m8ke more new friends. Outcomes for particlpants engaged In WOMEN'sfEC programmes The top three outcomes, participant8 not8d were.. Learn new skills Be more confident Improve my qualifications Percentages of survey respondents who stated.. Being at WOMEN'STEC has helped improve soft skills (communication, time management, teamwork) - 850/0 Being at WOMEN'STEC has helped with my wellbeing - both mentally and emotionally- 940/0 While at WOMEN'STEC, I have learnt new skills - 880/0 Since being at WOMEN'STEC, I feel more motivated than before - 920 My self-8Steem has increased since being at WOMEN'STEC . 81•/0 Being at WOMEN'STEC has helped improve my confidence - 94% Comments fmm Students.. "I hope you will continue to support the work of WOMEN'STEC to provide more opportunities and resources for women to 8chiev8 greater success. Your contribution is so important to WOMEN'STEC and society at large. (comment to funder) "Excellenl training programmes available to all women. The centre h8s made me more confident and able to do many new tasks. New friends made along the way too. Such a friendly and encouraging environment. Thank you" "I think the opportunity for women to leam new or improve on existing skills and to be more self sustaining is not something that has been at the top of anyone's agenda for a long time until the fabulous ladies at WOMEN'STEC got started. They ensure this is done to the best of Iheir ability, being a woman taught by women is incredibly important to me as too often women are overlooked and underestimated, that definitely doesn't happen at WOMEN'STEC. Great place with great staff and I will definitely be back for more training- "WOMEN'STEC is absolutely invaluable. I can't stress how much joy the courses I've attended have brought me 8nd the onsite childcare has been amazing. It's brilliant to get out of the house and learn something without being mum for a while. Really helped mske me feel human again whilst dealing with postpartum depression." "I came 8cross WOMEN'STEC through my key worker in Women's Aid. I'm so thankful for both organisations as they have helped me to get out of the house and find myself again. WOMEN'STEC really builds confidence and shows us that girls can do it alll. Page11 THE WOMENS TEC (TRAINING. ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Flnan¢lal r•vi•w The Flnanci81 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 lh8 y8ar and the flnancial position were considered satisfactory by the trustees. At 31 March 2024, total charity funds were £537,522 (2023.. £391,598), of which £356,720 were unrestricted (2023.. £257.151). Overall, rese￿e$ increased by £145,924, £99,549 of which were unr8Stricted (2023.. £23,715 inGrease>. All monies received supported key objectives of the charitable company, funding charitable activity costs, both direct and support. a. Golng ¢onc•rn After m8king appropriate 8nquirles. the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operation81 existence for the foreseeable future. For this reason, they continue to adopt the going concem basis in preparing the financial statements. Further detsils regarding the adoption of the going concem basis can be found in the accounting policies. b. Raservos Pollcy The trustees. policy is to retain a lev61 of free reserves which matches the needs of the organisation both at the current time and in the foreseeable future. The charitable company has developed a plan to establish and maintain an agreed level of free reserves of £230k to cover 3 months, salary and core running costs, a redundancy pay reserve and a reserve for final audit fees, leasing charges and other contingencies as at 31 March 2024. Whilst actual unrestricted reserves at 31 Msrch 2024 were £356,720 (2023.. £257,151), £30,000 was designated for future capital spend and £43,584 was tied up in fixed assets, leaving free reserves of £283,136 (2023.. £202,066). The charitable company will continue to monitor compliants with this policy on a regular basis and the Board will r8view the appropriateness of the policyannually. c. Prlncipal fundlng The principal funding of the organisation derived from an anonymous Private Foundation, The National Lottery Community Fund, Northern Ireland Housing Executive, UK Shared Prosperity FundlDep8rtment of Levelling Up. Housing & Communities, Construction Industry Training Board Nl, BBC Children in Need, The Executive Office (Urban Villages), The Rank Foundation, The Ireland Funds, Cenlre for Cross Border StudiesllFI. Community Development & Health Ne￿ork, The E5mee Fairbairn Foundation, Ulster UniversitylJoseph Rowntree Charitable Trust, E)ep8rtment of Foreign Affairs, Dormant Accounts Fund Nl, Gsrfield Weston. LFT Charitsble Trust, Department for Communities (RISP) and Belfast City Council. Stru¢tur•, gov•rnanca and rnanagemènt a. Constitutlon The company is registered as a charitable company limtted by guarantee and was set up by a Memorandum and Articles of Association. The charitable company is constituted under a Memorandum and Articles of Association and is a registered charity, number NIC100185. The principal object of the charitable company is to provide advancement 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 8180 elsewhere. Page 12 THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Structure, governance and managemont (contlnuod) b. Publlc Benefit Statement The trustees have complied with the duty to have due regard to the Charity Commission 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 wlth the Charities Commission in Northern Ireland include: Students gain qualifications and practical skills.. Students experience heightened self-esteem and confidence enabling them to move forward into furthar training and education or employment., Students @nhance their èmployability, increasing their opportunities to move Into further training and education or employment., and Students are better equipped to move into paid employment, therefore increasing th8ir economlc security. There have been no changes in the objectives since the last annual report. . Govornanc• and methods of appolntm•nt or •l•ctlon of trusta•s The management of the charitable company is the responsibility of the trustees who are elected and co-opted under the terms of the Articles ofAssoci8tion. Day to day management was delegated to the CEO, Lynn Carvill, whose salary is set by the Board. Other employees are psid in accordance with the National Joint Council (NJC) for Local Government Services Pays¢ales. d. Rlsk managamont The trustees have a risk management policy which comprises.. An annual review of the principal risks and uncertainties that the charity faces A risk regist8r covering 7 key categories of risk is maintained and updated annually, more frequently where risks are known to be volatile, and an accompanying risk mitigation plan which outlines 8XlSting controls procedures and proposed controls procedures improvements and actions Key roles and responsibilities of the board and staff in risk governance Financial sustainability continues to be a major financial risk, and several key financial risks h8ve been identified through this process. Much work has been done over the last numb8r of years to diversify both our income and grant funding streams. Whilst we are in a strong financial position this year, the principal financial risk is there ar& several funded programmes which will be coming to an end in 2025 which could impact our delivery plans and our 2025-2026 budget. In minimising the impact of this, we are forward planning, including revièwing programmes for need, demand and effectiveness, reviewing staffing r8sources, reviewing funders and developing a funding plan for the 2025-2026 financial year. Regular monitoring of the organisational budget and continuing to incr8ase our unrestricted income will ensure early and appropriate financial planning as we move ahead and finalise the 2025-2026 budget. Our ageing premises continue to be 2 growing risk to the organis8tion. with energy inefficiencies leading to higher utility costs, higher levels of ongoing maintenance impacting financial budgets and lack of control of facilities as we are limited to th8 constraints of the Education Authority. In our recent strategic planning exerGis8, the board has committed to exploring our options to ensure WOMEN'STEC operates from premises that are fit for purpose. This includes regular communication with the Education Authority regarding the premis&s and any urgent maintenance requirements. Page 13 THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Structure, governance and management (contlnugd) d. Rlsk managemont {contlnued) Staffing capacity and recruitment challenges are other risks which are regularly monitored and actioned upon. As a growing organisation, the need for more staff to meet the demands of a growing programme of delivery led to a staffing structural review undertaken in January 2024. This identified the need for a third senior leadership role. Head of Operations, and some adjustments to existing roles and responsibilities, as well as new ftnance administration and project officer role8. OUtsour￿d childc£re is a also a key risk for the charlty which is undergoing close monitoring. The reason for this is rising childc8re costs which could become unsustainable and not financially viable for the organisation to continue with. A risk mitigation plan is in place, including regular meetings with the Creche manager to ensure any potential issues or concerns are quickly and appropriately d8alt with, close monitoring of creche usage and demand from our students and exploring alternative options for childcare provision for students. Funds hèld as custodlan No funds are held as custodians, Page 14 THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Plans for future perlods After a successful year of growth and development, guided by our strategic plan, kèy activities for gr0￿h and development during 2024-2025: Implement 8 new management structure and Improved proc8sses and systems for both operational management and govern8nce management Implement a new CRM system to improve our data and relationship management. Begin the process of exploring options and viability of building a new home for WOMEN'STEC Invest in additional outreach kits and equipment to expand the delivery of our progr8mmes in community locations across Northern Ireland Explore the opportunity to open a third workshop in the North West of North8rn Ireland, Derry. Continue to deliver the 'Building Futures, programme, in partnership with Bolster Community and Women in Business Nl. focusing on expanding the areas of delivery and achieving employability outcomes for women on the programme Having undertaken a strategic plannlng process between June 2023 and September 2023 and launching our new strategic plan, the key strategic priorities for WOMEN'STEC over the next 2023-2027 period.. Deliver high quality training programmes to enable women to develop confidence and skills and build successful careers, particularly in industries where they are under-represented. o To work with girls to increase awareness of career stereotypes and opportunities in industries where women and girls are under-represented, particularly construction. Work with employers and industry bodies to promote a diverse and inclusive workforce and workplace. Contribute to the development of govemment policy and Practi￿ in support of WOMEN'STEC mission. Ensure the organisation has the appropriate d8ta and analysis to operate effectively and continuously improv8. Ensure the organisation has the premises and othertechnical and physical resources to achieve its aims and objectives and these are effectively 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 achieve its 8ims and objectives and thesg resources are effectively planned, managed and r&ported on. Ensure WOMEN'STEC effectively communicates with all its stakeholders. Ensure the govemance of WOMEN'STEC complies with the requirements of the law and best practice. Continue to grow the #NotJustForBoys Champions network to increase support from relevant industries Build on our partnership work with Creative Spark in Dundalk and Longford Women's Link in Longford. Develop our offering to the construction sector to support companies with the delivery of social value initiatives within public contracts Increase our capacity to meet and deliver on the level of growing need and demand for our programmes and services Page 15 THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Statomont of truste6s' responslbllltl¢s Th8 trustees (who are also the directors of the charitable company for th8 purposes of company law) are responsible for preparing the Trustees, report and the financlal statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requlr8S the trustees to prepare financial statements for each financial year. Under company law, the trustees musl not approve the financial statements unless they are satislled that they give a true and fair vlew of the state of affairs of the charitable company and of its incoming resources and application of resources, Including Its Income and expenditure, for that period. In preparing these financial statem8nts, the trustees are required to: select suitable accounting pollcles and then apply them conslstently. observe the methods and princlples of the Charitles SORP 2019 (FRS 102)., mak6 judgments and accounting estlmates that are reasonable and prudent. state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any materlal departures disclosed and explained In the financlal statements., prepare the financial statements on the golng conc8rn basis unles8 It Is inappropriate to presume that the charitable company will contlnue In operation. The trustees are responslble for keeplng adequate accountlng records that are sufficient to show and explain th8 charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financlal statements comply with the Companies Act 2006. They are also responslble for safeguarding the assets of the charltable company and hence for taking reasonable steps for the preventlon and detection of fraud and other irregularities. The trustees are responsible for the malntenanc8 and integrity of the corporate and financJal Informatlon induded on the charitable company's website. Dlsclosure of Infomiatlon to audltor Each of the persons who Is a trustee at the time when thls Trustees, Report is approved has confimied that: so far as that trustee is aware. there is no relevant audit Informatlon of whlch the charitable company'8 audltor 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 th8 charitable company's audltor is aware of that information. Audltor The charftable company retendered for auditors. Grace Taggart of CG Taggart Accountancy Services, was appointed for a perlod of 3 years: years ended 31 March 2021, 2022 and 2023, and was ext8nded to 31 March 2024. This report has been prepared In accordance with the special provisions of Part 15 of the Compani8s Act 2006 relating to small companies and was approved by order of the members of the board of trustees on 8 December 2024 and signed on their behalf by: Sylvia Gordon Page 16 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) Oplnion I have audited the financial statements of The Womens TEC (Training. Enterprise & Childcare Centre) (the 'charitable company,) for the year ended 31 March 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes. including a summary of significant 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 as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practic8; and have been prepared in accordance with the requirements of th8 Companies Act 2006. Ba818 for oplnlon I conducted myaudit in 8ccordance with International Standards on Auditing (UK) (ISAS (UK}) and applicablelaw. My r8sponsibilities under those standards are further described in the Audilors, responsibilities for the audit of the financial statements section of my report. l sm independent of the ch8ritable company in accordance with the ethical requirements that are relevant to my audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and I have fulfilled my other ethical responsibilities in accordance with these rèquirem6nts. I b81ieve that the audit 8vidence I have obtained is sufficient and appropriate to provide a basis for my opinion. Concluslons r•latlng to golng ooncern I have nothing to report in respect of th8 following matters in relation to which the ISAS (UK) require me to report to you where: the trustees, use of the going concern basis of accounting in the preparation of the financial statements is not appropriate., or the trustees have not disclosed in the financi81 statements any identified material uncertainties that may ast significant doubt about the charitable charitable company's ability to continue to adopl Ihe going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. Othor Infomiatlon The other information comprises the information included in the Trustees, Report and Financial Statements, other than the Financial Statements and my Auditor's Report th8reon. The trustees are responsible for the oth6r information contained within the Report of the Trustees and Financial Statements. My opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in my report, I do not express any fomi of assurance conclusion thereon. My responsibility is to read th8 Other information 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 rise to a material misstatement in th8 financial statements themselv8S. If, based on the work I have p8rformed, I conclude that there is a material misstatement of this other information, l am required to report that fact. I have nothing to report in this regard. Page 17 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) Opinlon on othor matters prescribed by the Companles Act 2006 In my opinion. based on the work undertaken in the course of the audit: the information given in the Trustees, raport, incorporating the dir8Ctors' report, for the financial year for which the financial statements are prepared is consistent with the financial statements. the Directors, report has been prepared in accordance with appllcable legal requirements. Matters on which we are requlr•d to report by ex¢¢ptlon In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit. I have not identified material misstatements in the Directors, report. I have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires me to report to you if, in my opinion.. adequate accounting records have not been kept, or returns adequate for my audit hav8 not been received from branches not visited by me; or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees, remuneration specifled by law are not made., or I have not received all the information and explanations I require for my audit,. or the truste&s were not entitled to prepare the financial st8tements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the Trustees, report and from the requirement to prepare a Strategicreport. Responslbllltles of trusteos As explained more fully in the Statèment of Trustees, responsibilities set out on pag8 16, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the prepar8tion of the financial statements and for being satisfied that they give 8 true and fair view, and for such intemal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material mi88tatement. whether due to fraud or error, In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concem and using the going concern basis of accounting unless the trustees 8lther intend to liquidat8 the charitable company or to cease operstions, or have no realistic alternative but to do so. Page 18 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) Auditors. responslbilitles for the audlt ot the financial statements My objectives are to obtain reasonabl8 assuran¢e about whether the financial statements as a whole are fre6 from material misstatement, whether due to fraud or error, and to issue an Auditors, report that includes my opinion. Reasonable assuranc8 is a high 18vel of assurance, but is not a guarantee that an audit conducted in accordano with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the 8ggregate, they could reasonably be expected to influence the economic decisions of us8rs taken on the basis of these financial statements. Irregularities, including fraud, are instanos 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 engagement and the extent to which these 8re capable of detecting irregularities, including fraud is detailed below: Obtaining an und8rst8nding of the significant legal and regulatory framework appllcable 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 misstatem8nt, including how fraud might occur. and Ensuring competence and capabilitie8 lo identify or recognlse non-compliance with law8 and regulations are maintained. Because of the inherent limitations of an audit, there is a risk that I will not detect all irr6gularit18s, 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 reflected in the financial statements, 88 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 concealment, forgery. collusion, omission or mi8repre8entation. A furthar 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 forms part of my Us• oi my report This report is made solely to the charitable company's members, as a body, in 8ccordance 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 required to state to them in an Auditor's report and for no other purpose. To the fu118St extent permitted by law, I do not accept or assume responsibilityto anyone other than the charitable company and its members, as a body, for my audit work, for this report. or for the opinions I have formed. C Grac• Taggart for and on behalf of CG Taggart Accountancy Servlces, Statutory Audltor, 17 Cypress Crescent, Donaghadee, Co Down. BT21 OQG nlor statutory audltor) CG Taggart Accountancy Services is eligible to act as an auditor in tsrms of section 1212 of the Companies Act 2006. 22 November 2024 Page 19 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 2024 Unrestrictsd funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Not• Income from: Donatlons and legacies Charitable activities other trading activities 155,491 52,275 2,316 71,903 786,218 227,394 837,493 2,316 207.337 463,893 4,553 Total In¢omo Expenditure on: Charitable activities 210,082 867,121 1,067,203 675, 783 132,666 788,713 921,279 652,068 Total exp?ndltur• 132,566 788,713 921,279 652,068 Net Incomel(expendltur•) for y•ar 77,516 68,408 145,924 23,775 Transfers be￿een funds 21 22,033 (22.033) Net movement In funds 99,649 46,375 145,924 23,715 R•eonclllatlon of funds.. Total funds brought forward, as restated 257,171 134,427 391,598 367,883 Total funds carrl•d forward 356.720 180,802 537,522 391,598 The above amounts relate to continuing operatlons of the charitable company. The Statemeni of financial activities includes all gains and losses recognised in the year. Thare is no difference be￿een the net Income for th8 period stated above and its historical cost 8quivalents. The notes form part of these financial statements. Page 20 THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) {A company limited byguarantee) REGISTERED NUMBER: N1034272 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Nota Flxed assets Tangible assets 17 43,584 25, 105 Current assots Debtor8 Cash at bank and in hand 18 76,784 560.535 85.737 341,641 626,299 427,378 Creditors.. amounts falllng due within one year 19 {132,361) (60,885) N•t ¢urr•ni a880ts 493,938 366.493 Total assets I•s8 curr•nt Ilabllltl•s 537,522 391,598 Total net a8s8ts 537,622 391,598 Charlty funds Restrfcted funds Unrestricted funds - capital Unrestricted funds - general Unrestricted fund8- designated 21 21 21 21 180,802 43,584 283,136 30,000 134,427 25,105 202,066 30.000 Total funds 537,622 391,598 The trustees acknowledge their responsibilities for complying with the requlrements of leglslation with respect to accounting records and preparation of financlal statements. The financial stat8ments have been prepared In accordance with the provisions applicable to entltles subject to the small companies. regime. The flnancial statements were approved and authorised for issue by tha trust88s on 22 November 2024 and signed on their behalf by.. Sylvia Gordon Andrea Morrow The no s form part of these financtal statements. Page 21 THE WOMENS TEC (TRAINING. ENTERPRISE & CHILDCARE CENTRE) (A company limitèd byguarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Noto Net ¢ash (out)Ilnllow from operatlng actlvltl•s Cash flows Irom Inv•sting a¢tlvltles Purchase of tangible fixed assets 23 243,278 (401) 16 (33,710) {11,096) Net cash used In Invosting actlvltl•s (33,710) (11,096) Cash flows from flnanclng actlvttles Repayments of borrowlng 24 (674) 2,049 Not Cash ouffiows from flnanclng aotlvltl•s 1674) 2,049 Net (decrease)Ilncrease in cash and cash equivalents in the year 208,894 (9.448) Cash and cash equivalents at l Aprll 2023 341,641 351,089 Cash and cash •qulvalents at 31 March 2024 650,S35 341.641 The notes form part of these financial statements. 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 2024 General information & legal status The Women8 TEC (Training, Enterprise & Childcare Centr8), (WOMEN'STEC), is a private charitable company limited by guarantee. The charitsble company was incorporated in Northern Ireland with the charitable company number N1034272. The registered office address and principal place of business is 29 Chichester Avènue. Belfast. BT15 SEH. The principal activity of the charitable company is to relieve poverty and advance education, specifically for females who are socially and economi&glly disadvantaged in Northern Ireland. In the event of the charitable company belng wound up, the liability in respect of the guar8nt8e is limited to £1 per member of the charity. summary of Slgnlflcant Acoountlng pollcles The significant 8ccounting policies adopted, judgements and key sources 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 othemise stated. 2.1 Basls of pr•paratl¢n of flnan¢lal statèments The Womens TEC (Training, Enterprise & Childcare Centre) constitutes a public benefit entity as defined by FRS 102 and it6 operations and principal activities are disclosed in the Trustees, Report. The financial statements have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019}, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021, applicable charily law, the Cornpanies Act 2006 and UK Generally Accepted Accounting Practice. The financial statement8 are presented in sterling, the funGtional currency ofthe charitable company, rounded to the ne8r8St £. Assets and li8bilities are initially recognised at historical cost or transaction value unles8 Otherwise st8ted in the relevant accounting policy note. 2.2 Praparatlon of the accounts on a golng ooncern basis The charitable c£Jmpany continues to adopt the going concern basis in preparing its financial statements 8S the trustees are of the view that the immediat8 future ofthe charitable company for the next 12 months is secure and on this basis the 8ssessment of th8 trustees is that the charitable company is a going concem. The trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existen¢e for the foreseeable future. 2.3 Fund accounting Unrestricted funds are available for use at the discretion of the trustees in ftjrtherance ofthe 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 administrating such fund5 are Gharged against the specific fund. 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 2024 Accountlng policles(continued) 2.4 Income ro¢ognition policl•s All income. including leg8cy income, is recognised once th8 charitable company has legal entitlement to the income, any performance conditions attached to the item of income have b6en met or are fully within the control of the charitable Company, it is probable that the income will b8 received and the amount of income receivable can be measured reliably. Income is deferred only when the charitable company has to fulfil Conditions which are not fully within its control before being entitled to it or where the donorlfunder h8s specified that the income is to be expended in a future period. 2.5 Expenditure recognition pollcies and Irr&coverable 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 headlngs.. Charitable activlties: include the direct costs of programmes and activities undértaken to further the purposes of tha charitable company and their associated support costs, including governance costs. Support costs are those costs incurred in support of direct expenditure on the objects of the charitable company and include project management C8rried out at Headquarters. Governance costs are those incurred in connection with administration of the charitable company and compliance with constitution81 and statutory requirements. The analysi8 of these cost8 is included at notes 8 - 10, All expenditure is inclusive of irrecoverable VAT. 2.6 Employee beneflts When employees have rendered service to the charitable company, short-term employee benefits to which the employees are entitled such as paid annual leave, are recognised at the undiscounted amount expected to be paid in exchange for that service. The charitable company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable. 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 2024 Accounting policies(conlinued) 2.7 Tangible fixod assets and depreciation Tangible fixed assets are capitalis8d and recx)gnised when future 8conomic benefits are probable and the cost or value of the 8sset can be measured reliably. Tangible fix8d assets are initially recognised at cost. After recognition, under the cost model, tangible 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. Depr8ciation is charged so 88 to allocate the cost of tangible fixed assets less their residu81 value over th8ir estimated useful lives, Depreciation is provided on the following basis., Workshop & offlce equipment_ 25 % straight line Motor v8hi¢les - 200/0 Straight line 2.8 Impalrment Assets not measLsred at fair value are reviewed for any indication that the asset may be impaired at each ba18nce sheet date. If such indication exists, th8 recoverable 8mount ofthe asset, or the asset's cash generating unit, is estimated and comp8red to the carrying amount. Where the carying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carri8d at a revalued amount where the impairment loss is a revaluation decrease. 2.9 Debtor8 Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Any108ses arising from impairment are recognised in expenditure. 2.10 Cash at bank and In hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from th8 date of acquisition or opening of the deposit or similar account. 2.11 Liabilities and provisions Liabilities and provisions are recognised when there is 8n obligation at th8 Balance sheet date as a result of a past 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 are recognised at the amount that the charitable company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that refl8Cts the risks specific to th8 liability. The unwinding ofthe discount is reGognised in the Statgment of financial activities as a finance cost. 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 2024 Accounting policies (continued) 2.12 Financlal Instruments The charitab18 company only has financial ass8ts and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently m88sured at their settlement value with the exception of bank loans which ar8 subsequently measured at amortised cost using the effective interest method. 2.13 Critical accounting judgements and estimation uncertalnty Estimates and judgements are continually ev81uated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumst8nces. There are no critical judgements in applying the company's accounting policies. There are no crilical accounting estimates and assumptions. Prlor year adjustment Restricted funds at 31 March 2023 have been amended from £156,159 and restated as £134,427, a reduction of £21.732. This smount has increased unrestricted funds at 31 March 2023 from £235,439 as originally slated to £257.171, the total charity funds remaining the same as before at £391,598. The adjustments arise from a change in accounting pollcy first adopted in year ended 31 March 2024 and now reflected in comparatives. Previously, when a t8ngible fixed asset was funded by way of a restricted grant or donation, the accounting treatment was to categorise the asset as restricted and to charge depreciation to the relevant restricted fund. This policy has been changed so that assets funded by restricted funds are only categorlsed as restrict8d where the ch8ritab18 company is required to hold them on an on-going basis for a specific purpose under the temis of the grantldonation. The totsl adjustment of £21,732 can be broken down a8 follows.. Net book value of restricted fixed assets as at 1 April 2022, transferred to unrestricted funds 22,984 DepreGiation charge on these assets year ended 31 March 2023, originally charged to restricted funds, transferred to unrestricted funds (9,961) Transfer of restricted funds to unrestricted funds for year ended 31 Msrch 2023 fixed asset additions Total reduction in restricted fundslincrease in unrestricted funds at 31 March 2023 The new policy better reflects the circUmstan￿S where once an asset is acquired. the charitable company is allowed to use it on an unrestricted basis for any charitable purpose and provides a more accurate split of funds between restricted and unrestricted. 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 2024 Incom• from donatlcns and lega¢l•s Unrestrlcted funds 2024 Restricted lunds 2024 Total fun(Is 2024 Grants Gifts 143,843 11,648 71,903 216,746 11,648 Total 2024 155,491 71,903 227,394 Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Grants Glfts 158,360 8,347 39,000 1.630 197,360 9,977 Total 2023 166, 707 40,630 207,33T Analysls ol grants.. 2024 2023 Unrestricted grants - other Restricted - olher 143,843 71,903 158,360 39,000 Total 215,746 197,360 UK Government grants amounted to £31.503 (2023 - £nil) Page 27 THE WOMENS TEC (TRAINING. ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income trom charltable activitles Unrestrlctsd funds 2024 Restrlcted funds 2024 Total funds 2024 Granls Contractual servlce level agreements Primary purpose trading Income from property 758,564 26,654 758,564 26,654 47,225 5,050 47,225 5,050 Total 2024 52,275 785,218 837,493 un￿StriCted funds 2023 Restricted funds 2023 Total funds 2023 Grants Contractual service level agreements Primary purpose trading In￿rne from property 70C 6,000 23,529 2,978 382,280 48.406 382,980 54,406 23,529 2,978 Total 2023 33,207 430.686 463,893 Page 28 THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from ¢haritable actlvltles (continued) Analysls of grants 2024 2023 Unrestrlcted: Oth8r 700 Total Unrestrlcled Restrlcted: Connect 4 Women- TNL Community Fund Sustaining T8nancies - NIHE Building Futures Partn8rship- Department for Levelllng Up, Housing & Communities Promoting Opporlunlties Programme #NotJustForBoys - variou8 CBenAct Cross-border Project- IFI Women's Wellbeing- Community Development & Health Nebmork Nl Women's Budget Group (NIWBG) Department of Forelgn Aftalrs Other 98,872 8,851 118,364 38,353 434,541 94,310 18,239 114,467 2,400 65,OlJO 15,173 21.178 9,600 3T,000 64,496 Totsl Restrlcted 758,564 382,280 Tolal 758,564 382,980 UK Govemment grants amounted to £606,331 (2023.. £248, 159). 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 2024 In¢om¢ from othor tradlng a¢tivitle8 Unrestrlcted funds 2024 Total funds 2024 Room & equipment hire 2,316 2,316 Unrestrictsd funds 2023 Total funds 2023 Room & equlpment hlre 4.553 4.553 Non4xchange tran8actlons The charitable company has benefitted from th8 contrfbutlon ol unpaid general volunteers. Thelr contribution is not accounled for due lo the lack of a reliable basls of measurement. Page 30 THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on charitable activities Dlrect, Including Programme & actlvity costs 2024 Support costs 2024 Total costs 2024 Unrostrl¢t•d 73,019 59.547 132,566 R•8lrlcted Connect 4 Women - TNL Community Fund Sustaining Tenancles- NIHE Bullding Futures Partnershlp- Department for Levelllng Up. Housing & Communities Promoting Opportunitles Programme #NotJustForBoy8 {variousl CBenAct Cross-border Project - IFI Women's Wellbeing- Community Development & He81th NebNork Nl Women's Budgel Group (NIWBG) (variousl Department of Foreign Affairs WOMEN'STEC Newry- CTS Projects WOMEN'STEC Emergency Fund Other (various) 76,013 22,622 19,527 2,969 95,540 25,591 280,482 102,997 383,479 70,631 5,212 12,867 12,831 83,498 18,043 3,860 33,139 14,367 21,392 1,519 34,385 135 4,340 333 5,749 3,995 37,479 14,700 27,141 1,519 97,728 63,343 Total Restrlcted 563,622 225,091 788,713 Total 2024 636,641 284,638 921.279 Page 31 THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on charitable activities Prior period Dlrect. Including Programme & actlvffity costs 2023 Support costs 2023 Total costs 2023 Unrestrlct•d 10,921 173.719 184,640 Restrl¢t•d Connect 4 Women - TNL Community Fund Her spa￿ - Nationwlde Buildlng Society Sustaining Tenanci@s- NIHE Soclal Housing Enterprise - NIHE Promoting Opportunities Programme #NotJu8lForBoys (various} Bulldlng Independence Programme- Women Thrive Fundlsmallwood Trust Nl Women's Budget Group (NIWBG)- Esmee Fairbalm Foundation WOMEN'STEC Newry- CTS Projects Other (various) 96,267 24.888 6,938 5,061 101,513 14,225 6.561 1,368 110,492 31,449 8,306 5,061 110,961 9,448 28,208 1,016 29,224 27,251 7,553 34,8¢ 41,100 75,425 4,086 16,520 45,186 91,945 Total Restrlcted 406,651 60, 777 467.428 Total 2023 417,572 234,496 652,068 Page 32 THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Support costs 2024 2023 Staff costs General Rent Light & heat Repalrs & maint8nance Insurance Motor & trav811ing costs Hospitality Telephon8 & Internet Printing & statlonery IT support Software Photocopier leasing Postage Depraciatlon. Advertising & promotlon Finan￿ outsour¢lng Legal and professional Bank charges and interest Cleaning Staff trainlng Membership fees Governance costs (note 10) 162,454 401 132,870 41 6,040 22,301 1,351 2,309 10,660 7,244 6,385 2,785 4,223 3,186 1,123 68 3.030 32.027 2,086 2,308 8,098 3,479 5,539 1,823 2,815 3,981 1,224 15,231 1,140 10,815 5,569 799 6,717 4,352 1,065 9,430 11,857 6, 600 594 931 5.392 4,283 1,296 4,279 284,638 234,496 10. Governance costs 2024 2023 Auditor remuneration HR Consultancy Legal & professional fees 2,150 422 6,858 2,210 275 1.734 9,430 4,219 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 2024 11. Net incomel(expenditure) for the year This is staled after chargSngl(crediting): 2024 2023 Auditor's r8muneration - audit tax Depreciation - tangible fixed asset8 Operating lease rentals 2.150 2.150 60 t 1.857 8, 269 15.231 11,246 12. Analysis of Staff costs and trustees. remuneration and bonefits 2024 2023 Wages and salarfes Social security costs Employer's contribution to defined contribution penslon schemes Other employe8 benefits Movemenl in liability for unlaken annual leave 8ntltlement 411,196 34,041 24,407 3,510 357.852 28. 703 21,212 3,360 1,789 5,502 474,943 416,629 The HMRC employer PAYE raference In respect ofThe Womens T8c's employees was in the name of Women'stoc Non-Traditional Occupations Ltd, a dormant company. This was an unintentional mlx-up on registration and HMRC has been Informed. The Womens Tec paid the HMRC liabilities in respect of its employees each month. Total redundancy pay for the year amounted to £4,425 and was accounted for and pald in full during th8 year from unrestricted funds. The average head count during the reporting period was as follows.. 2024 2023 Dlrect and Support 19 19 One employee received 8mployee benefits (excluding employer pension costs) of between £60,000 and £70,000 in the year ended 31 March 2024 {2023: one). Key management personnel received £155,707 in th8 year 8nded 31 March 2024 (2023- £141,892). During the year. no trustee recelved any remuneratlon or other benefits (2023 - £NIL). Durlng the year ended 31 March 2024, 4 trustees had travel expenses totaling £469 paid for by the charitable company (2023- one trustee, £114). These expenses were incurred in carrying out their duties as trustees. Page 34 THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limit8d by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Pension Commitments The charilable company operates a defined ￿ntribution 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 £24,407 (2023.. £21,212). 14. Ralatod party transactions Womens'tec Non-Traditional Occupations Ltd (N1067460) is a dormant private company limited by guarantee wlth the same registered office address as and two common directors with The Womens Tec. Note 12 details an administrative anomaly betW8en The Womens Tec and this other company. There have been no other related party transactions in the reporting period th8t require disclosure. 16. Connoctéd Charities and Jolnt Arrangèments The accounts of the charitable compsny include income and expenditure in relation to connected charities with which it collaborates. As lead partner on the Building Futures programme funded by the Department for Levelling Up, Housing & Communities, WOMEN'STEC receives grant monies on behalf of the Bolster Community and Women in Business Nl. Of the total monies of £434,541 received and accounted for in the year ended 31 March 2024 (2023 - £nil), £114,790 was due to the Bolster Community (2023 - £nil) and £34,853 to Women in Business Nl (2023 - £nil). As lead partner on the Connect 4 Woman 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 £98.872 received and accounted for in the year ended 31 March 2024 (2023 - £118,364), £28,686 was due to Shankill Women's Centre (2023 - £28,331) and £15,585 to Glow (2023 - £16,406). The Trustees, Report explains that resources were secured for the Northern Ire18nd Women's Budget Group (NIWBG) which WOMEN'STEC is incubating. In the year ended 31 March 2024, there was £65,000 of NIWBG income accounted for in WOMEN'STEC 8ccounts (2023.. £37,000). Funds unexpended at 31 March 2024 are carried forward as a reserve in case of loss or reduGtion of funding for NIWBG in the future. 16. Corporation tax The charitable company is exempt from tax on income and gains to the extent that these are applied to its charitable objects. Page 35 THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Tanglbla flxed assets Workshop Motor and offlce vehicles equipment Totsl Cost or valuatlon At 1 April 2023 Additlons Dlsposals 55.124 10,922 55,124 33,710 22,788 At 31 March 2024 22,788 66,046 88,834 Depr•clatlon At 1 April 2023 Charge for the y9ar Disposals 30,019 14,092 30,019 15,231 1,139 At 31 March 2024 1,139 44,111 46,260 Not book valuo At 31 March 2024 21,649 21,936 43,584 At 31 March 2023 25.105 25,105 18. Dobtors 2024 2023 Du• wlthln one year Trade debtors Prepayments and accrued income 12,410 63,354 32.530 53,207 75,764 85,737 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 2024 19. Credltors: Amounts falllng due wlthln one year 2024 2023 Trade credltors Accruals and deferred income Othèr creditor8 98,534 27,270 6,557 32.904 23,787 4, T94 132,361 60.885 20. Leas•s Total fvtur6 mlnlmum lease payments under non-cancellable operating leases are as follows.. 2024 2023 Not later than one year Later than one and not later than five years 4.021 917 8,573 4,938 4,938 13,511 Page 37 THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 21. Statement of funds Statement of funds - current year Balance Balanc• at31 March 2024 1 Aprll 2023 Income Expendl- Transfers ture Inlout Unrgstrlcted funds Capital Funds General Funds Designated Funds 25,105 202.066 30,000 (16,231) (117,335) 33,710 (11,677) 43,584 283,136 30,000 210,082 Total Unrnstrlct•d Funds 267,171 210,082 (132,566) 22,033 356,720 Rtstrlctod funds Connect 4 Wom8n- TNL Community Fund Sustaining Tenancies - NIHE Bullding Fu￿reS Partnership- Department for Levelling Up, Houslng & Communilles 12,689 98,872 (95,540) (1,571) 14,460 29,937 8.861 434,541 {25,591) {383,479) (430) (4,314) 12,767 46,748 Pmmotlng Opportunities Programme #NoUustForBoys.' CITB BBC Children In Need TEO Urban Villages The Rank Foundation- Start Here The Ireland Funds 22,944 16,500 23,029 31,837 (23,496 {8,052) (21,851) (30,099) 552 (549) (1,178) 7,899 37 8,446 3,708 37 6,708 3,708 CBenAct Cross-border Project - IFI Women's Wellbeing - Community Development & Health Network 18,239 2,400 (18,043) (3,995) 196 9,600 {8,005) Nl Women s Budget Group (NIWBG).. NIWBG - Open Society Foundation NIWBG - Standard Life Foundation N IWBG - Joseph Rowntree Refomi Trust NIWBG- Esmee Fairbalrn Foundation NIWBG- Ulster UniversitylJRCT 32,385 3,278 1,984 32,385 3,278 1,984 2,196 48,100 16,900 (31.691) (5,788) {6,000) (2,000) 12.60S 9,112 Department of Foreign Affairs WOMEN'STEC Newry- CTS Projecls 7,357 15,173 26,654 (14,700) 127,141) {485) 487 7,345 Page 38 THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 21. Statsment of funds (contjnued) Stat•ment of funds - current year Balance Balanc• at31 March 2024 1 April 2023 Income Expondi- tura Transfers Inlout R08trlct•d funds {contlnued) WOMEN'STEC Emergency Fund Other.. Dormant Accounts Fund Nl The Rank Foundation - Core Cost of Living Heart of th8 Community- The Iraland Funds Garfield Weston Foundation LFT Charitable Trust The Rank Foundation - Aspire Open College Network- Learning Department for Communilies (RISP) BCC- Revenue 5,400 (1,519) 3,881 31,503 26,000 (31,503) (16,536) 8,464 10,000 (3,750) 6,250 12,500 5,831 4,970 1,247 (12,500) (5,8311 (3,070) (3,360) 1,460 1,247 16,538 9.000 (15,538) (9,000) Total R•strlctsd Funds 134,427 867,121 (788,713) {22,033) 180,802 Total Funds 391,598 1,067,203 (921,279) 537,522 Unre8trlcted capital funds represent tanglble fixed assets. Unrestrtcted funds designated for future capital spend are under review and remain at £30,000 for now. Each of the restricted funds above relates to activities which are kèy to meeting the obj8Ctiv@s of the charitable company. The Trustees, Report gives details of those acts'viues, achievements attained and the performance highlights during the year. Transfers from restricted to unrestricted funds are in Ilne with conditions laid down by fundors. During the year, restricted funds were used to purchase fixed assets to a total value of £8,770. The charitable company is allowed to use these assets on an unrastricted basis for any charitable purpose and therefore funds lo this value have been transferred from restricted lo unrestricted. In addition to this, there were transfers from restricted to unrestricted of £8,005 from Women's Wellbeing for management fees, overheads, childcare, travel and other costs classified as unreslriGted, and £6,000 and £2,000 management fees from NIWBG Esmoa Fairbaim and NIWBG Ulster UniversitylJRCT respectively. The £1,460 transfer from unrestrrcted to restricted funds was a partial reversal of the recognition of £2,000 funding as unrestricted in year ended 31 March 2023, needed to cover restricted spend in year ended 31 March 2024. Unrestricted funds lotaling £1,282 We￿ transferred to cover small deficits on restricted funds. Page 39 THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 21. Statement of funds (continued) Statement of funds - prlor year 8alanco 8alanc• at31 March 2023 1 Aprll 2022 In¢om• Expendl- Transfers ture Inlout Unr•strlcted funds Capital Funds General Funds Designated Funds 25,866 204,274 (11,857) (172, 783) 71,096 {33,892J 30,000 25,105 202,066 30.000 204,467 Total Unrestrlctad Funds 230, 140 204,467 (184,640) 7.204 257, 771 R•strl¢tOd funds Connect 4 Women - TNL Community Fund H8r Sp8c8 - Natlonwide Building Sociely Sustsinlng Tenancies- NIHE Social Housing Enterprlse- NIHE 5.017 118,364 (110,492) (200) 12,689 33,280 (31,449) (1.831) 38,353 (8,306) (5,061) (110) 29,937 5,061 Pmmotlng Opportunltles Pmgramme #NotJustForBoys.' CITB BBC Chlldren In Need TEO Urban Villages The Rank Foundation- Start Her8 The Ireland Funds (411) 6,557 (901) 22,969 25,111 32,387 34.000 (22,744) (31,148) (29,574) (27,292) (203) 186 (514) (1,875) 37 6. 708 3. 708 3,917 Bullding Independence Programme - Women Thrive Fundlsmallwood Trust Vvomen's Wellbeing - Community Development & Health Netwoik 29,224 (29.224) 9.600 9.600 Northern Ireland Women s Budget Gmup (NIWBG).. NIWBG - Open Society Foundation NIWBG- Standard Lif8 Foundation NIWBG _ Joseph Rowntre8 Refomi Trust NIWBG - Esmee Fairbalrn Foundation 32,385 3,278 1,984 32,385 3,278 1,984 37,000 (34,804) 2,196 Page 40 THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 21. Statement of funds (oontlnuod) Statement of funds - prlor year Balane• at 1 Aprll 2022 Balance at31 March 2023 Expondl- ture Incom• Transfers Inlout Rastrlcted funds (contlnu•d) D@partm8nl of Forelgn Affairs WOMEN'STEC Newry- CTS Projecls Other.. Garfield Weston Foundation LFT Charitable Trust The Rank Foundation - Asplre The Rank Foundatlon- Time to Shine The Rank Foundation - Profit for Good Open College Network- Learning Department for Communit18s IRISP) Nl European Social Fund- D8partment for the Economy- TWN PASS BCC- Revenu8 Leonard Cheshire - GradEmployNI The Tudor Trust Fabrlco container donation Total R•strl¢ted Funds 7.357 7.357 48,406 (45, 186) (3.220) 25,000 14,000 15,050 8.427 (12,500) (10,669) (10.080) (75,595) (2, 676) (1, 750) (15.673) 12,500 5.831 4,970 2,500 7.168 686 1,990 2,997 15,673 1,247 8,071 9,500 4, 778 (8,071) (9,500) (4, 778) (653) 653 1.630 137, 743 471,316 (467,428) (7,204) 734,427 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 reslrfcted funds above relates to acllvities whlch are key to meeting the objectlves of the charitable company, The Trustees. Report glves detalls of thase activllles, achievements attained and the performance highlights during the year. Transfers from restricted to Un￿StrICted funds are in line with Conditions laid down by funders. Under the new accounting policy detslled at Not@ 3, £8,709 was transferred from restricted to unrestricted funds for fixed asset addilions funded by restricted funds used on an unrestricted basis. There was a transfer of£1,631 from the restricted Nationwide Building Society fund to unrestricted funds relating to costs, originally classified as unrestricted, now correctly allocated to the restficted fund. Transfers into restricted funds {Rank Profit for Good £1,990, TEO UV £939, CITB £207, total £3,136) address funding shortfalls met from unrestricted funds. Page 41 THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22. Analysls ot net assets between funds Analysls of not assets between funds - current p•rlod Unrestrlcted funds 2024 R•strl¢t•d funds 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year 43,584 334,652 (21,516) 43,584 291,647 626,299 (110.8451 (132,3611 Total 356.720 180.802 537,522 Analysls of not assats betw••n funds - prlor perlod Unrestrlcted funds 2023 Restricted funds 2023 rotal funds 2023 Tangible fixed assets Current assets Creditors due within one year 25, 105 264,342 (32, 276) 25,105 427,378 (60,885) 163,036 (28,609) Total 257, 171 134,42T 391,598 23. Ro¢onelllatlon of not Incomel(expondltura) to net cash flow from oporatlng aotlvltlas 2024 2023 Net incomel{expendlturel for the year Add back depreciation charge (Increase}IDecrease in debtors Increasel(decrease) in Creditors 145,924 16,231 9,973 72,150 23,715 17,857 (35,309) (664) N6t cash flow from oporating a¢tlvities 243,278 (407) Page 42 THE WOMENS TEC (TRAINING, ENTERPRISE & CHILDCARE CENTRE) (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 24. Net debt reconciliatlon 2024 2023 Loan at 1 April 2023 Cashflows 4.794 (674) 2. 745 2,049 Loan at 31 March 2024 4,120 4. 794 25. Contlngent Llabllltles A contingent liability exlsts lo r8pay any grants received should certain ￿nditionS not be fulfilled by the charitable ￿rnpany. 26. Capltal Commltments Th8re were no capital commltments at the balance sheet date. 27. Controlllng Paty The Board of Trustees Is the ultimate controlling paty. 28. FRC Ethlcal Standard - Provlslons Avallable for Audlts for Small Entltles In common with many other buslnesses ol our size and nature we use our auditor to prepare and submit returns to the tax authorities and assist with the preparation of the financlal stalements. Page 43