Charity registration number NIC100187 Company registration number N10332631Northern Ireland) WOMENS CENTRE DERRY LTD ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IAARCH 2024
WOMENS CENTRE DERRY LTD CONTENTS Page Charty Information Trustees, report Independent auditorfs report Statement of financial activities 10-11 Balance sheet 12 Notes to the financial statements 13-25
WOMENS CENTRE DERRY LTD LEGAL AND ADMINISTRATIVE INFORMATION Trustees Denise Doherty (Ch"airperson) Kathy Colhoun (Treasurer) Dr Clionagh Boyle Geraldine Compton Roisin Hegaty Dina Gomaa Saorla Boyle (Appointed 28 June 2023) Secretary Sharon McLaughlin Charity number NIC1CKJ187 Company number N1033263 Registered office Beibhinn House 5 Guildhall Street Dery BT48 68B Auditor Moore (Nl) LLP 21123 Clarendon Street DerrylLondonderry BT48 7EP Bankers Bank of Ireland 27 Culmore Road Londondery BT48 8JB Sollcitors Babingtons Solicitors 9 Limavady Road Londonderry BT47 6JU
WOMENS CENTRE DERRY LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report and financial ststements for Ihe year ended 31 March 2024. The financial statements have been prepared in accordan with the accounting policies set out in note 1 to the financial statements and comply with the charity's Igoveming d¢Jcument], the Companies Ad 2006 and "Accounting and Reporting by Charitie5.' Statement of Recommended Practice applicable to charities preparing their a¢UnIS in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" {effeclive 1 January 2019). Objectives and activities The principal activity of the company is to L*allenge the oppression and discrimination of women, as it exists, in all forms and it is committed to joining with other women, and women's groups, around positive initiatives for change. Through the activity of the centre, space is provided where women have the opportunity to explore their lives, make new choices and gain support to act on these choitss. The objects of the company as stated in the Memorandum & Artides of Association are lo benefit the community in Derry - Londonderry and the Northwest. in particular women members of the community, by the relief of poverty and the advancement of education in matters relating to mental, physical and social welfare and in particular to provide cenlres for the supply of admce and guidance., arrange and provide the holding of meetings, lectures, workshops and dasses. and do all things as are necessary for the furtherance of the objectives of the Company. Strategies ft)r achieving aims and objectives The strategies employed lo achieve the charity's aims and objectives are.. Providing a holistic program of educational. recreational and lrfe skills opportunities for individuals. Providing education to best suit the needs of women and families in the communify. Providing on-site childcare to enable parents to access and participate in education activities Providing education and soual welfare facilits'es and resources for the use of indiwduals in the community. Public benefit The trustees have considered the charity legislation which sets out the requirements for chaflties to demonstrate the aims and activities are for public benefrt. The Trustees confim) that they have had regard to the Charity Commission Nl guidance on public benefft. The beneficiaries are socially exduded women and their families living in the area of benefit. The direct benefits which flow from our purposes include: Improved educational achievements, knowledge and resources to enable women and their families out of poverty. Increased empoweTmenl and Confiden to enable women to make positive changes to alleviate the effects of poverty. Increased capacty for gaining employment enabling women to create a better fLrture. Improved lrfe skills and abilrties. Improved quality of lrfe for individuals and families in the communty. Increased social indusion for women and families. The benefrts are evidenced through qualIfili0nS gained, employment secured and evaluation feedback from beneficiaries. There is no private benefit to trustees.
WOMENS CENTRE DERRY LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and perfomiance Significant activities and achievements against objectives In 23124 Women Centre Derry responded to the needs of the community to ensure Women and children were supported through the cost of liwng crisis. The start of the year was challenging with funding cuts across the women sector and wider community. This resulted in the Women Centre losing key funding, a reduction in services and loss of valued staff members. As we progressed through the first quarter we were already making great progress with services back on track, positions reinstated and fvnding streams increasing. The Centre continued rts work embedding women's empowement and equality. Women Centre Derry delivered our aims by providing a$S for women to a holistic range of activities including education and training, employment support, skills development, 1-1 advocacy support, wellbeing programmes, integration activities, parenting support, mother and baby joint aclivilies and onsite creche facilities. The Board of Directors was diligent in carrying out their governan responsibilities and contributed a range of management skills and specialisms to the organization induding: Finance YouthwoTk Learning Support Management Translation Community Development Early Years Education Staff training and continuous personal development was encouraged and deltvered throughout the period. To provide the programmes and activities we employed 15 staff and contracled the services of 38 part-time tutors and facilrtators. Together with management, these teams worked alongside partiopants to change lives and place women's development, empowerment and equality at the core of our work. In 2023124 the cenlre delivered 12 projects, proMding 14,339 course places. Partiripanls on formal courses achieved 75 qualifications. 18 women secured employment and 40 women progressed onto further education. Childcare servi*s and children's programmes providing plaS for 433 individual children this year and our onstte creche provided 9023 childcare hours. The impads of the Centre's work will be benefitting our communities for years into the future. All credit to the staff teams and leaders who responded so well lo the challenges wtth creativity and innovation. We collaborated with 139 organisations and statutory agencies in the area to promote equality and access for women. We partnered with the Women's Regional Consortium. Women's Resource Development Agency and Triax to deliver essential front-line services in disadvantaged and rurally isolated communities. We delivered several multicultural projects supporting 179 BME families. These sep¥fjces contributes to building a safe, diverse and equal community. Financial review Total income for the year was £408,394. of which £329.140 was received from grant aid fiJnding. £- represents enrolment fees in respect of leCtuS, workshops and dasses. £72.522 was generated in respect of donations received. Total expenditure was £402.806, all of which was expended on direct tharltable actmties. The balance on total funds at the yearond was £811,892. of which £296.005 were unrestricted income funds, £442,215 were designated funds and £73,672 were restricted funds. ReseOS policy The Trustees consider it prudent to hold monies in reserve in the event that unforeseen circumstances should lead to financial difficulties which might put the future of its employment capacity, general charitable work and propety in jeopardy.
WOMENS CENTRE DERRY LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Trustees have examined thè charty's requirements for reserves considering the main risks to the organisation and estsblished a formal policy which stipulates that free reserves be maintained at a level which ensures that the charity's Core activity could continue during a period of unforeseen difficulty. Free reserves are defined by Ihe Trustees as unrestrided income funds freely available for use as the charity so determines and thereby excludes any funds committed, invested in tangible fixed assets held by the charity and restricted or designated funds. It is the policy of the charity that unrestricted fvnds which have not been designated for a specific use should be maintained at a level equivalent to beeen three and six month's expenditure. The Truslees consider that reserves at this level will ensure that. in the event of a significant drop in funding. they will be able to continue the charity's current activities while consideration is gtven to ways in which additional funds may be raised. Based on the year ended 31 March 2024 expenditure (excluding depreaation and non-recurring costs) of £376,372. the target level of reserves is £94,100 to £125,500. Free reserves of the charity as at 31st March 2024 are £292,856. therefore the Trustees are pleased to confirm that the chafity is compliant with its reserves policy. The Trustees continue lo strive to maintain a general level of reserves in accordance wilh their policy so that they will be able to continue the current activities of the charity- Wrthin unrestricted fijnds, a designation of £442,215 has been set aside represented by the property at 5 Guildhall Square owned and used by the charity on an on-going basis for charitable activities. The designated funds balan is equivalent to the depreciated historic cost of the capital expenditure. A sum equivalent to the depreciation charge on the building will be allocated each year to the designated fund. until it is fulty amortised. Major risks The Trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. The Trustees, in conjunction with the senior management team, are aware of the major rtsks to which the charity is exposed. ere appropriate, systems or procedures have been established to mitigate the risks the charity faces. Internal control risks are minimised through the procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with applicable laws and regulats'ons. All procedures are periodically reviewed to ensure that they continue to meet the needs of the charity. Structureg governance and management Governing docuvnent Women's Centre is a company limited by guarantee and accepted as charitable by Charity Commission for Nl under reference NIC100762 and by HMRC under reference XR 19291. The company was incorporated on 17th November 1997. The company was established under a Memorandum of Associab'on which established the objects and powers of the company, and is governed by its Articles of Assoualion. The liabilty of members is limited in that every member of the company undertakes to contribute an amount nol exceeding £1 in the event of the company being wound up. The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the dale of signature of the financial statements were- Denise Dohety (Chairperson) Kathy Colhoun (Treasurer) Dr Clionagh Boyle Geraldine Compton Roisin Hegaty Dina Gomaa Leona Mcmenamin Saorla Boyle (Resigned 28 June 2023) (Appointed 28 June 2023) Recruitment and appntment of tnistees The Board of Trustees manages the prOsS of recruitment and appointment of Trustees, and may admit to membership any person interested in promobng the objects (primary purpose) of the company.
WOMENS CENTRE DERRY LTD TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Organisational stmcture The Trustees have ultimate legal and financial responsibilty for the affairs of the Women's Centre and are responsible for the strategic direction and policy of the charity. The Trustees are from a variety of professional backgrounds relevant to the work of the charity. A scheme of delegation is in place and responsibility for the provision of servtces rests with the Centre Director, who is responsible for the day to day operational management of the charity- The Trustees remain satisfied that the Women's Centre is compliant wrth good governance praCtIS in line with the requirements of the Charity Commission of Northem Ireland. ststement of Trustees. responsibilities The Trustees. who are also the directors of Womens Centre Dery Ltd for the purpose of company law, are responsible for preparing the Trustees, Report and the financial statements in accordan with applicable law and Unrted Kingdom Accounting Standards (United Kingdom Generally Acopted Accounting Practi). Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure. of the charitable company for that year. In preparing these financial ststements, the Trustees are required to= select suitable accounting policies and then apply them consistently.. observe the methods and principles in the Charities SORP.. - make judgements and estimates that are reasonable and prudent,. slate whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in Ihe financial statements., and prepare the financial statements on the going concem basis unless tl is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping adequatè accounting re¢orils that disclose with reasonable accuracy at any time the financial posilion of the charity and enable them to ensure thal the finan¢ial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor In accordan with the company's artides, a resolution proposing that Moore (Nl) LLP be reappointed as auditor of the company will be put at a General Meeting.
WOMENS CENTRE DERRY LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Disclosure of infomiation to auditor Each of the Trustees has confirmed that there is no infomiation of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the audilor is aware of such information. The Trustèes. report was approved by the Board of Trustees. Denise Dohety Trustee hairperson) Kathy Col Trustee oun ffreasurer) 26 June 2024
WOMENS CENTRE DERRY LTD INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WOMENS CENTRE DERRY LTD Opinion We have audited the financial statements of Womens Centre Derry Ltd (the 'charity') for the year ended 31 March 2024 which comprise the statement of financial activtties, the balance sheet and the notes to the financial statements, including a summary of signfficant 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 Iland (United Kingdom Generally Accepted Accounting Practice). In our opinion. the financial statements.. give a Irue and fair view of the state of the charitable CoMpanS affairs as at 31 March 2024 and of its incoming resources and application of resources, induding its income and expenditure, for the year then ended: have been properly prepared in accordan with United Kingdom Generalty Accepted Accounting Practice; and have been prepared in accordan with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordan with Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibililies under those standards are further described in the Auditorfs sponSIbl1111eS for the audit of the financial statements section of our report. We are independent of the charty in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is SuffIent and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements. we have conduded that the Trustees, use of the going concern basis of accounting in the preparation of the financial ststemenls is appropriate. Based on the work we have perfonned, we have not identffied any malerial uncertainties relating to events or conditions Ihat, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of al least Iwelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to goirvJ concern are described in the relevant sections of this report. Other infomiation The other information comprises the information induded in the annual report other than the financial statements and our auditors report thereon. The Tmslees are responsible for the other infomiation contained within the annual report. Our opinion on the financial statements does not cover the other infomiation and, except to the extent otherwise explicitly slated in our report, we do not express any fomi of assurance conclusion thereon. Our responsibilty is to read the other information and, in doing so. consider whether the other infomialion is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit. or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparenl material misstateménts, we are required to detèmiine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed. we condude that there is a matèrial misstatement of this other infomiation. we are required lo report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit: the information givèn in the Trustees, report for the financial year for which the financial statements are prepared, which includes the directors, report prepared for the purposes of company law. is consistent with the financial statements- and the directors, report included wtlhin the TTUStees' report has been prepared in accordance with applicable legal requirements.
WOMENS CENTRE DERRY LTD INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE MEMBERS OF WOMENS CENTRE DERRY LTD Matters on which we are required to report by exception In the light of the knowledge and understanding of the charity and its enwronment obtained in the course of the audit, we have not identified material misstatements in the directors, report induded within the Trustees. report. We have nothing to report in resped of the following matters in relation to which Ihe Companies Act 2006 UIreS us to report to you if, in our opinion.. adequate accounting records have not been kept. or retums adequate for our audtt have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and retums,. or certain disclosures of trustees. remuneration specified by law are not made., or we have not recèived all the infomation and explanations we require for our audit., or the Trustees were not entitled lo prepare the financial statements 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 strategic report. Responsibilities of Trustees As explained more fully in the statement of Trustees, responsibilities, the Trustees. who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a 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 misstatement. whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concern. disclosing, as applicable, matters related to going conrn and using the going concern basis of accounting unless the Trustees either intend to Iwuidate the charitable MpanY or to cease operations, or have no realistic attemative but to do so. Audttorfs responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assuran about whether the finanual statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that indudes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS {UK) will always delect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered matèrial rf, individLJally or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, induding fraud, is detailed below. Extent to which the audit was considered capable of detecting irregularities, includlng frdud The objectives of our audit in respect of fraud. are.. to identify and assess the risks of material misstatement of the financial slalements due to fraud,. lo obtain SLJfficient appropriate audit eviden regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks,. and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the Charitable company. Based on our understanding of the charitable company and tls operating enwronment, we determined that the most significant frameworks which have a direct impact on the preparation of the financial statements are those related to the reporting framework, (FRS 102, the Charities Act (Northem Ireland) 2008, The Charities (Accounts and Reports) Regulations {Northern Ireland) 2015, the Charty SORP and the Companies Act 2CQ6). Additionally, we concluded that there are signthcant laws and regulations in relation to the company's charitable status and activities of which non-compliance may have a material effect on the financial statements. We assessed the susceptibility of the charitable companys financial statements to material misstatement, including how fraud might occur, including evaluating managemenfs incentives and opportuntties to manage earnings or influence the reported results. From Ihe results of our assessment, we determined that the principal risks of fraud relate lo posting inappropriate journal entries and use of charity funds for purposes outside of restrictions imposed by the donor. In common with all audits under ISAS (UK). we are required to perform specific procedures to respond to the risk of management override.
WOMENS CENTRE DERRY LTD INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF WOMENS CENTRE DERRY LTD Audit response to risks idenlified As part of an audrt in accordants with ISAS (UK) we exeruse professional judgement and maintain professional sceplicism throughout the audit. Audtt procedures performed by the engagement team included.. Wè obtained an understanding of the charitable company's internal control systems in order to design audit procedures that are appropriate in the urcumstances, but not for the purposes of expressing an opinion on the effectiveness of the charitable company's intemal control. We obtained an understanding of how the charitable company complies with relevant laws and regulations. induding those as a result of tts registration with the Charity Commission for Northern Ireland and charitable status with HM Revenue & Customs , by making enquiries of management and those charged with governance. Enquiry of management. those charged wtlh governan and the entty's solicitors around actual and potential litigation and claims. Enquiry of entity staff to identify any instances of non-compliance with laws and regulations. Performing analytical prOdreS to idenlify any unusual or unexpecled relationships that may indicale risks of material misstatement due to fraud Reviewing minutes of meetings of those charged with govemance Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. We lest the completeness of income to address the risk of fraud in relation to revenue recognition Auditing the risk of management override of controls. induding through testing journal entries and other adjustmènts for appropriateness. and evaluating the business rationale of significanl transactions that are unusual or outside the normal Urse of business. Auditing the risk of use of charity funds outside of restrictions imposed by the donor by review of funding letters of offer lo identify restriL#ions, and review of funding claims prepared by managemenl lo check Complian with restrictions. We communicated relevant laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with law5 and regulations throughout the audit. There are inherent limitations in the audit procedures described above and the fvrther removed non-compliance with laws and regulations is from the events and transactions reflected in the financial slatements, the less likely we would become aware of it. Also. the risk of not deteding a material misstatement due to fraud is higher than the risk of nol detecting one resulting from error, as fraud may involve deliberate concealment through collusion, forgery, intentional omissions. misrepresentations or the override of intemal control. A further descriplion of Our responsibilities is available on the Financial Reporting Council's website at.. https'.11 www.frc.org.ukJauditorsresponsibilities. This description fomis part of our auditorfs report. Use of our report This report is made solely to the charitable company's members. as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to stste to them in an auditols report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibilty to anyone other than the charitable company and the charitable company's members as a body. for our audit work. for this report, or for the opinions we have formed. Joh radley (Senior Statut Auditor) forand on behalf of Moore (Nl) LLP 26 June 2024 Chartered Accountants ststutory Auditor 21123 Clarendon Street DerrylLondondery BT48 7EP
WOMENS CENTRE DERRY LTD STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Current financial year Unrestricted Unrestricted funds funds general designatsd 2024 2024 Restricted fvnds Total Total 2024 2024 2023 Notes Income from: Donations and legacies Charitable actimties Investments 72,522 6.724 72,522 335,864 9,599 615,873 329,140 Total income 79,254 329,140 408,394 625,472 Expenditure on: Charitable activities 64.879 17.149 320,778 402,806 539,979 Totsl expenditure 64.879 17,149 320,778 402,806 539,979 Net incomel(expenditure} 14.375 117.149) 8.362 5,588 85,493 Transfers between funds 111,754 11,754 Net movement in funds 2,621 (17.149) 20.116 5,588 85,493 Reconciliation of funds: Fund balances at 1 April 2023 293,384 459,364 53,556 806,304 720,811 Fund balances at 31 March 2024 296,005 442,215 73,672 811,892 806,304 The statemenl of financial activities includes all gains and losses recognised in the year. All inoome and expenditure derive from continuing activities. 10-
WOMENS CENTRE DERRY LTD STATEMENT OF FINANCIALACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Prior financial year Unrestricted Unrestricted funds funds genernl designated 2023 2023 Restricted funds Total 2023 2023 Notes Income from: Donations and legaeS Charitable activities 9.599 10,307 9,599 615,873 605,566 Total income 19.9( 605,566 625,472 Expenditure on: Charitable activities 14,248 17.149 508,582 539,979 Total expenditure 14,248 17.149 508,582 539,979 Net incomel(expenditure 5,658 (17,149) 96,984 85,493 Transfers belween funds 93,572 (93,572) Net movement in funds 99,230 (17,149) 3,412 85,493 Reconciliation of funds: Fund balances al 1 April 2022 194.154 476,513 50,144 720,811 Fund balances at 31 March 2023 293.384 459.364 53.556 806,304 11
WOMENS CENTRE DERRY LTD BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets 12 446.231 465,713 Current assets Debtors Cash at bank and in hand 13 35,507 350,696 66,441 301.724 386.203 368,165 Creditors: amounts falling due within one year 14 120,542) (27,574) Net current assets 365,661 340,591 Total assets less current liabilities 811,892 806.304 Net assets 811,892 806,304 The funds ofthe charity Restricted income funds Unrestricted funds - general Unrestricted funds- designated 17 73,672 296,005 442.215 53,556 293,384 459,364 18 811,892 806.304 These financial statements have been prepared in accordance with the provisions applicable to companies subject lo the small companies regime. The financial statements were approved by the Trustees on 26 June 2024 Denise Doherty Trustse hairperson) Kathy Colh Trustee un (Treasurer) Company registration number N1033263 (Northem Ireland) 12-
WOMENS CENTRE DERRY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity inforniation Womens Centre Derry Ltd is a private company limrted by guarantee incorporated in Northern Ireland. The registered office is Beibhinn House, 5 Guildhall Street. Derry. BT48 6BB. 1.1 Accounting convention The financial statements have been prepared in accordance with the charty's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Finanpial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effeclNe 1 January 2019)" The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities apptying FRS 102 Update Bulletin 1 not to prepare a Ststement of Cash Flows. The financial statements are prepared in sterling, which is the functional (wrrency of the charty. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting poliues adopted are set out below. 1.2 Going concem At the time of approving thè financial statements, the Trustees have a reasonable expectation that Ihe charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Twstees in furtherance of their charitable objectives. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are subject to specific condttions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met. thè amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on reoipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require defeal of the amount. Income tax recoverable in relation to donations received under Gfft Aid or deeds of Govenant is recognised at the time of the donation. 1.5 Expendlture Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will bè required and the amount of thè obligation can be measured reliably. Expenditure on charitable actniities indudes the costs of childcare and educational serwces undertaken to further the purposes of the charity and their associated support costs. 13-
WOMENS CENTRE DERRY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting poli¢ies {Continued) Support costs are those fvnctions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs. finance, personnel, payroll and governance costs which support the charity's programmes and activities. The bases on which support costs have been allocated are set out in note 7. Irrecoverable VAT is carged as a cost against the actiwty for which the expenditure was incurred. 1.6 Tangible fixed assets Tangible fixed assets are initialty measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to wrtte off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Freehold land and buildings Fixtures and fittings 20A straight line 25% straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset. and is recognised in the ststement of financial activities. 1.7 Impairnient of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss {rf any). 1.8 Cash and cash equivalents Cash and cash equivalents indude Cash in hand. deposits held at ¢all with banks, other short-tem liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafis are shown within borrowings in current liabililies. 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 'Basi¢ Financial Instruments, and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the Larity becomes party to the contractual provisions of the instrument Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets. which include debtors and cash and bank balans. are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost Using the effective inleresl method unless the arrangement constitutes a financing transaction. where the transaction is measured at the present value of the future receipts dISUnted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 14-
WOMENS CENTRE DERRY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinued) Basic financial liabilitiès Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction. where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost. using the effective interest rate method. Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are dassified as current liabilities rf payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at Iransaction price and subsequenlly measured at amorts'sed cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the chari5 contractual obligations expire or are discharged or cancelled. 1.10 Taxation The company is a charity and is recognised as such by HM Revenue & Customs under the charity lax reference XR 19291. As a result there is no liability lo taxation on any of its income. 1.11 Employee benefits The cost of any unused holiday entrtlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charty is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.12 Retirement benefits Payments to defined contribution retirement benefft schemes are charged as an expense as they fall due. Critical accounting estimates and Judgements In the application of the charty's aCunting policies, the Trustees are required to make judgements, estimates and assumptions aboLrt the carrying amount of assets and liabilities thal are not readily apparent from other Sour$. The estimates and associated assumptions are based on histOriC21 èxperience and other factors that are considered to be relevant. Actual resufts may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affeds both current and future periods. 15-
WOMENS CENTRE DERRY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from donations and legacies Unrestricted Unrestricted funds funds 2024 2023 Donations and gifts 72,522 9,599 Donations and gifts GROW Fund WISER NI CIC The Communty Foundation - Kingsbridge Foundation Other 36,000 25,992 5,000 5,530 6,331 3,268 72,522 9,599 Income from charitable activities Unrestricted Restrictsd funds funds 2024 2024 Totsl Unrestricted Restricted funds funds 2023 2023 Totsl 2024 2023 Courses and craft income Performance related grants 6,724 6,724 10.307 10,307 329,140 329,140 605,566 605,566 6,724 329,140 335,864 10,307 605,566 615,873 Perfomiance related grants analysis 2024 2023 Dept for the Economy- PROSPER 4 Depl for Communities- VCD Dept for Communities - Regional Support UKSPF - Success NW project Derry City & Strabane District Council National Lottery Community Fund - Women's Regional MAS programme Nalional Lottery Community Fund - Recover Rebuild Renew BBC Children in Need Other 305.312 110,512 33,120 102,615 29,498 32,999 4,000 20,835 108.585 23.538 7,070 4,500 31,097 77,105 32,795 11.125 329,140 605,566 16-
WOMENS CENTRE DERRY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from inveslments Unrestricted Unrestricted funds funds 2024 2023 Interest receivable Expenditure on charitable activities Charitsble activities Charitable activities 2023 2024 Direct costs Staff costs Depreciation and impairment Project expenses Propety costs Repairs and maintenace Office costs Advertising, marketing and publicty Travel expenses Staff training Insurance Consumables Bank charges General expenses 239,003 19.483 39,304 11,098 6,401 16,629 456 707 33 7,698 1,883 579 3,S81 317,888 20,144 72.749 15,125 21,366 13,554 1.469 350 7,453 3,458 509 5,104 346,855 480,018 Share of support and govemance costs {see note 7) Support Governan 51,151 4,800 55.161 4,800 402.806 539,979 Anatysls by fund Unrestricted funds - general Unrestricted funds - designated Restricted funds 64,879 17,149 320,778 14,248 17.149 508,582 402,806 539,979 17-
WOMENS CENTRE DERRY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs allocated to activities 2024 2023 Staff costs Governance costs 51,151 4.800 55,161 4,800 55,951 59,961 Anatysed between: Charitable activities 55.951 59,961 Support costs are those functions that assist the work of the charity but do nol directly undertake charitable activities. Support costs represent time spent by staff on back office work. finan, personnel, payroll and govemance matters which are necessary to plan, direct and monttor the charivs programmes and activities. Net movement in funds 2024 2023 The net movement in funds ts ststed after chargingl(crediting)'. Fees payable for the audit of the charity's financial Statements Deprecialion of owned tsngible fixed assets 4,800 19,483 4,800 20,144 Trustees None of the Trustees (or any persons conneded with them) received any remuneration or benefits from the charity during the year. 10 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number 13 17 Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 254,174 19.071 16,909 325,969 25,180 21,900 290.154 373,049 There were no employees vthose annual remuneration was more than £60.tKK). 18-
WOMENS CENTRE DERRY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Employees (Continued) Remuneration of key management personnel The remuneration of key management personnel was as follows". 2024 2023 Aggregate compensation 121.018 107,196 11 Taxation The charity is èxempt from taxation on its activities because all its income is applied for charitable purposes. 12 Tangible fixed assets Freehold land Flxturas and and bulldlngs ffttln Total Cost At 1 April 2023 857.438 204.586 1,(2,024 At 31 March 2024 857,438 204.586 1,062,024 Depreciation and impairnient At 1 April 2023 Depreciation charged in the year 398.072 17,149 198,238 2,334 596.310 19,483 At 31 March 2024 415,221 200,572 615,793 Carrying amount At 31 March 2024 442,217 4,014 446,231 At 31 March 2023 459.365 6,348 465.713 13 Debtors 2024 2023 Amounts falling due within one year: Amounts owed by related parties Other debtors 26,318 9,189 11,500 54,941 35,507 66,441 19-
WOMENS CENTRE DERRY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Creditors: amounts falling due within one year 2024 2023 Notes Bank overdrafts Accruals 15 8.056 12.486 3,727 23.847 20,542 27,574 15 Loans and overdrafts 2024 2023 Bank overdrafts 8,056 3,727 Payable within one year 8.056 3,727 16 Retirement benefit schemes 2024 2023 Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes 30.321 40,507 The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separatety from those of the charity in an independently administered fund. -20-
WOMENS CENTRE DERRY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Restricted funds The restricted funds of the charty comprise the unexpended balances of donations and grants held on trust subject to specific conditsons by donors as to how they may be used. At 1 April 2023 Incoming resources Resources expended Transfers At 31 March 2024 Dept for Communities - VCD Dept for Communities- Regional Support UKSPF - sucSs NW project Derry City & Strabane District Council WHSCT- SEEDS HFNI Halifax Foundation OCN NI National Lottery Communty Fund- Recover Rebuild Renew BBC Children in Need National Lottery Community Fund - Women's Regional MAS programme 102,615 (113,015) 10.400 914 29,498 32,999 (31,429) {32,999) 1.017 4.000 360 3,740 2,970 14.282) (2.816) (1,085) 13,025) 282 9.400 3.588 6,944 6,243 ss 13,085 20.502 108.585 23.538 177,529) 134,8601 44.141 9,180 6.067 20,835 {19,738) 7,164 53.556 329,140 (320.778 11,754 73,672 Previous year: At 1 April 2022 Incomlng Resources resources expended Transfers At 31 March 2023 Dept for the Economy - PROSPER 4 Depl for Communities- VCD Depl for Communities- Regional Support Derry City & Strabane District Council Childcare Partnership Nl WHSCT- SEEDS Dept for the Economy - ESOL NI (VPRSJ HFNI Halifax Foundation National Lottery Community Fund BBC Children in Need Règional Women's Centres Partnership - MAS project Community Foundation Ireland Screwfix Foundation 402 305,312 110.512 (207,180) (116,932) (98,534) 6,420 33,120 {32,206) 914 2,588 4.500 1,725 9.400 (7,088) (1,725) 9,400 2,460 4,133 (2,460) (545) 3,588 13,595 16, 77.105 32.795 (77.615) {29,253) 13,085 20,502 2.931 2.075 5.O¢XI 31,097 (26.503) (2.075) (S.0} (1.458) 6,067 50.144 605,566 (508.582) (93,572) 53,556 21
WOMENS CENTRE DERRY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Restricted funds (Continued) Dept for the Economy - PROSPER 4 Project supports women to access new skills. training opportunities, work experience and qualifications. The project engages with women who are unemployed. economically inactive and far from the labour market. This project was completed at 31 March 2023. Dept for Communities - VCD Core support for the organisation to maintain and support the delIry of community development adivities, education, childcare. information. signposting and support servir£s for women and children from disadvantaged communities. Deptfor Communities - Regional Support This project supports WCD as part of a Consortium of seven established Women's Sector organisations. This organisation works to support frontline women's organisations ensuring the delivery of identified specialist functions on a regional basis, rural and urban across Northem Ireland. UKSPF - Success NW Shared Prosperity Fund- Success Northwest (SNW) project is an ambitious, Collaborative, consortium approach. with community-based, partners in eighl communty hubs across the DCSDC area. The project provides intensive and tailored interventions to those enoMiCallY inactive residents. The project uses range of holistic approaches to address barriers and support indtviduals to secure sustainable, good quality employment. Derry City & Strabane District Council This fund supports the Centre to promote social and economic regeneration in the DC&SDC area and lo deliver programmes and services for women and families. The projed also contributes to the implementation of the Council's shared future strategy by supporting women from minorty ethnic communities. WHSCT- SEEDS Funding for the provision of therapeutic and seffrycaTe support for vulnerable women and children. HFNI Halifax Foundation Funding for server and computer SOfare upgrades * the Centre. National Lottery Community Fund Funding for People and Communities RECOVER REBUILD RENEW projecL BBC Children in Ne This project will provide advocacy support and activities for Black and minorty ethnic, resettled, and refugee children and young people.11 will reducÉ isolation. improve English skills, and increase health and wellbeing. National Lottery Communlty Fund- Women's Regional MAS programme Peri-Nalal Peer support programme. Advocacy & Mental Health Well-Being. -22-
WOMENS CENTRE DERRY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Unrestricted funds - designated These are unrestricted fvnds which a material to the charity's activities. At 1 April 2023 Resources At 31 March expended 2024 Designated property funds 459,364 117.149) 442.21 S Previous year: At 1 April 2022 Resources At 31 March Èxpended 2023 Designated property funds 476.513 (17,149) 459.364 Designated funds is the value of unrestricted funds represented by the property at 5 Guildhall Square owned and used by the charity on an ongoing basis for charitable activities. The period end balancè is equivalent to the depreciated historic cost of the capital expendrture. A sum equivalènl to the depreciation charge on the building will be allocated to the designated fund each period, until it is fully amortised. 19 Unrèstricted fvnds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 April 2023 Incoming resources Resources expended Transfers At 31 March 2024 General funds 293,384 79.254 (64.879 111,754) 296,OOS Previous year. At l April 2022 Incoming resourcès Resources expended Trdnsfers At 31 March 2023 General funds 194,154 19,906 (14.248) 93,572 293,384 -23-
WOMENS CENTRE DERRY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20 Analysis of net assèts between funds Unrestricted Unrestricted funds funds genèral designated 2024 2024 Restrictsd funds Total 2024 2024 At 31 March 2024: Tangible assets Current assetsl(liabilities) 3,149 292.856 442,215 867 72,805 446.231 365.661 296.005 442.215 73,672 811,892 Unrestricted Unrestricted funds funds general designated 2023 2023 Re$tii¢ted funds Total 2023 2023 At 31 March 2023: Tangible assets Currenl assetsl(liabilities) 3.325 290,059 459.364 3,024 50.532 465.713 340,591 293,384 459.364 53,556 806,304 21 Contingent Llabllities Certain grants received and receivable may become repayable to the funder if the charity is no longer able to meet the conditions undèr which they were awarded. Due to the nature of these contingencies it may not be possible to quantify the potential financial effect or give an indicalion of the kn'ming as to the liabilities that may arise. 22 Transfers between funds During the year there have been net transfers between funds in the amount of £11.754 from unrestricted general funds to restricted funds which represents the chartty's contribution from unrestricted general funds towards the cost of providing charttable services. In the prior period there were net transfers between funds in the amount of £93,572 from restricted funds to unrestricted general funds as follows: transfer of £99,992 (2022: £27,118) from restricted funds which represents surplus funding for indirect costs in accordan with funding agreements whith is being released and transferred to unrestricted funds.. transfer of £6,420 (2022: £17.608) from unrestricted to restricted funds which represents the charitys contribution from unrestricted funds towards the cost of providing charitable services. -24-
WOMENS CENTRE DERRY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 23 Related party transactions Transactions with related parties The Women's Centre has a dose working relationship wtth WISER (NI) CIC, a communty interest company which provides private childcare services and non-funded courses and workshops. The Board of Trustees of the Women's Centre are also Board members of WISER (NI) CIC therefore both entities are under common Gontrol. During the year, the Women's Centre had the following transactions with WISER (NI) CIC.. secondment of a childcare staff member to WISER for the provision of childcare services. The total amount invoiced to WISER was £3,000 (2023.. £3.000). This amount was paid in full before the year end (2023- £3,000)- Women's Centre paid £1,283 (2023.. nil) in relation to course registration fees on behalf of WISER. This amount was repaid in full by the year end. gift aid covenant income from WESER in the amount of £25.992 (2023.. £6.332). This amount is included within donats'ons and legacies and remains OLrtstanding at the year end (2023.. £6.332). 24 Auditors. Ethical Stsndards In common with many businesses of its size and nature, the charrty uses Tts auditors to assist with the compilation of the statutory financial ststements. -25-