Cli<qrit Nunil)Lbl' NIC'IOU321
islriiti()n Niiiiil)er . IP 202
DERRY YOUTH AND COMMUNITY WORK4il.IOP I.,1Ml￿D
'I'riistees' Re
¢)rl and li lii})iicSal ,Statciiients
foi. IhL'
eui. fiJiidL.d 31 Miii'ch 21123

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Contents
Page
l£gal and Administrative Information
Report lo Trustees
Independent Auditors. Report
Statement of Financial Activities
io
B<il(tnLC Shcct
li
Statement of Cash Flows
12
Notes to the Financial Statements
13-24

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Legal and Adminlstrative Information
Committee of Man&gementTTrustees
Declan Doherty
Anne Marie Donnelly
Geraldine Mellon
Eleanor Conaghan
John Peto
Deirdre O'connor
Michael Quigley - Resigned 26101r23
Danny Friel
Catherine Barr
Secretsry
John Peto
Soclety Iyumber
IP 202
Charity Number
NIC100321
Reglstered Office
6 Society Street
De
BT48 6PJ
Audltors
McDaid Mccullough Mwre
Chartered Accountants and
Ststutory Auditor
28132 Clarendon Street
Deny
BT48 7HD
N. Ireland
Buslness Address
6 Society Street
Derry
BT48 6PJ
Bankers
Allied Irish ficink
Meuduwbi)nk
Sirancl Roa(1
Derry
BT48 7TN
Sollefitors
Babington & Croasdaile
Solicitors
9 Limavady Road
Derry
Page I

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Report of the trustees
for the year ended 31 March 2023
The Trustees (in their capacity as Trustees and Committee of Management) present their report and the
flnancial statements for the year ¢nded 31 March 2023. The twstees who seTved during the year and up to the
date of ihis report are set out on page l. The Crustees have adopted the provisions of the Statement of
Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102)(effective l January
2019) in preparing the annual report and financial statements of th¢ charity.
Structurej governance and management
Governing documenr
Tlie vi'gaiiibaliuii is a Lli<U'il¢ibl¢ IAilu￿(l &ucittly rttgisL¥red uIider tliv liidubirial Éiiid Pi'(>ViLieiil SoLieties Acl
(Northern Ireland) 1969 (Society Number IP 202). It is recognised as a charity by HM Revenue and Customs
(reference XR57120). The society's charity number is NICI(K)321. The society's governing document is its
Rules dated 30 March 1978.
Organisaiional slructure
The charitable society is managed by the trustees (committee of management). The trustees are chosen based
on their skills and professional backgrounds so as to ensure a wide range of experience is represented on the
Boai'd. The trustees meet monthly to review performance, determine Strategies, assess risk and plan future
policies.
The society is managed daily by a chief executive and senior employees. The senior employees report daily to
the chief executive ensuring the smooth operation of the society. The chief executive is responsible for
ensuring that the society complies with all relevant regulations including health & safety requirements for both
trainees of the centre and staff.
Appointment and training of frmslees
New tNstees are nominated by current trustee members. Induction and training of new trustees is provided by
the Chief Executive of the society and covers:
i) The obligations of the trustees (Con)mittee of Management members);
ii) The main documents which set out the operation framework for the society including the Rules of Derry
Youth and Lommunity Workshop Limited;
iii) ResUUi'LLiig aiid (lie LUlI'eLIL ILII&IILiuI pvsiiivii us sel oul iIi Ili¢ IdL¢sL publisli¥d uL¢uuiils'
iv) Future plans and objectives
Governance, internal control and risk management
The management of Derry Youth and Community Workshop Limited has conducted its own review of the
major risks to which the society is exposed and systems have been established to mitigate those risks.
Signlficant external risks Telating to funding have led to development of a strategic plan which will allow for
the diversification of funding and activities. Internal risks are minimised by the implementation of procedures
for authorisation of all transactions and programmes.
Page 2

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Report of the trustees
for the year ended 31 March 2023
Objectives and activities land how they deliver public benefit)
Charilable objects
The society was establibhed undcr Rules of Derry Youth and Community Workshop Limited dated 30 March
1978 which establibhed the objectb and powers of the charitable society.
Public benefit
Derry Youth and Community Workshop Limited strives lo cnbure that they provide public benefit. Public
benefit i.s at the heart of whal it mcanb to be a charity. The principle objeclive of thc charitable society is to
advance education, in particular for young people, by providing training facilities for the acquisition and
development of occupational skills and work experience.
To achieve this objective Derry Youth and Community Workshop Limitcd provided a number of training
programmes such a5 Training for Success, Skills For Life and Work, I£mis North West, Leaming North West
and Seeds Programme.
Achlevements and perfomance
The results for the year are set out on page5 10 and I l. The main programmes in operation during the year
were Training for Success, Skills For Life and Work, Lemis North West, Learning North West and Seeds
Programme,
Finaneial review
Income for the year to 31 March 2023 increased from £l.192,206 in 2022 to £1.202,831. Net deficit in the
year was £129,997 (2022 - Surplus £33.950). The financial statements reflect the transition occurring in
income streams during the year.
Principalfunding sources
The principal funding sources of the charity for the provision of its programmes are The Department of
Employment <ind Learning (DEL), Deparitnent for the Economy (DFE), European Social Fund (ESF) and
Department for Communities (DFC).
Invésimenz policy
The charity operates a prudent investment policy. Investments are in the form of short term low risk bank
deposits.
Re.ierves policy
The trustees, (Committee of Management's) business plan ensures adequate reserves exist to meet the ongoing
requirements of thc society. The general reserve, comprising reserves of £1,024.471 (2022 - £1,154,468) dt the
balance Sheet date. is available to be applied at the discretion of the trnstees (Committee of Management) to
any of the society's charitable activities.
Restricted reserves are funds secured for specific expenditure of a capital nalure. Derry Youth and Community
Workshop Limited have no restricted reserves at the balance sheet date.
Revaluation reserve records the value of asset revaluations and fair value movements on assets recognised in
other comprehensive income.
Page 3

DERRY YOUTH AND COMMUNrrY WORKSHOP LIMITED
Report of the trustees
ror the year ended 31 March 2023
Plans for fulure periods
The trustees continue to assess the perfonnance of the society and their future aims for Demy Youth and
Community Workshop Limited are:
to continue the activities outlined above.
maintain financial viability.
secure additional funding for new projects.
to co-opei'ate witli otliei. bodies to devclop pJDgrai)Iiiies.
At ihe end of the financial year the funding from the European Social Fund ended. This marked the end of the
Lemis North West. Learning North Wcst and Seeds Programmes. These programmes made up 84(% of the
socicty's incomc in the year. As a consequence the society had to undertake cost cutting measures which
resulted in a number of redundancies. The society is exporing sources of future funding.
Statement of dlsclosure of information to auditors
We, the trustees of the charitable society, who held office at the date of approval of these financial statements,
each confim) as far as we are aware, that:
there is no r¢levant audit information of which the charitable societls auditors are unaware. and
we have taken all steps that we ought to have taken as tmstees in order to make ourselves aware of any
relevant audit information and to establish that the charity's auditors are aware of that information.
Statement of Trnste&s' Responslbllltles
The truste¢s (who are also committee of management of Derry Youth and Community Workshop Limited for
the purposes of company law) are responsible for preparing the Trustee's Annual Report and the financial
statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom
Generally Accepted Accounting Practice).
Company law requiTes the trustees to prepare financial statements for each financial year, which give a true
and fair view ot the state ot attairs ot the charitable society and ot the incoming resources and application ot
resourccs. including the income and expenditure, of the ch¢Witable 8OCAeiy for that period. In preparing these
financial statements, the trustees are required to-
sclect suitable accounting policie5 and then apply them consistenlly;
observe the methods and principles in the Charities SORP 2019 (FRS 102).
make judgements and accounting ¢stimates that are reasonable and prudent.
state whether applicable UK Accounting Standards have been followed. subject to any material depamires
dibcloscd and explained in the financial statements"
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charitable society will continue in operation.
Page 4

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Report of the trustees
for the year ended 31 March 2023
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at
any time the financial position of the charitsble society and enable them to ¢nsure that the financial statements
comply with the Industrial & Provident s(￿leties (Nl) Act 1969 as amended. They are also responsible for
safeguarding the ass¢ts of the charitabl¢ society and hence for taking ￿Sonable steps for the prevention and
detection of fraud and other irregularities.
Auditors
A resolution proposing that McDaid Mccullough Moore be reappointed as auditors of the charity will be put
to the Annual G¢n¢ral Meeting.
On behalf of the trustees
/L
GLI'aldiiie Mellon
Deirdre O'connor
John Peto
Dated: 6 July 2023
Page 5

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Independent auditors, report to the trustees of
DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Opinion
We have audited the financial statements of the charitable society , Derry Youth and Community Workshop
Limited, for the year ended 31 March 2023 which comprise of the statement of financial activities, the Balance
Sheet.. the Statement of Cash Flows and the relalcd notcs. The financial reporting framcwork that has been
applicd in their prepaTation is applicable law and United Kingdom Accounting Standards (United Kingdom
Generally Accepted Accounting Practice).
In our opinion ihe financial statements:
give a true and fair view of the state of the charitable society's affair5 as at 31 March 2023 and of its
incoming rcsour¢es and application of resourccs. including its income and expenditure and cash
flows for the year then ended.
have bccn properly prcpared in accordancc witb United Kingdom Generally Accepted Accounting
Practice and
have been prepared in accordance with the requirements of th¢ Industrial and Provident Societies
Acts (NI) 1969 and 1976.
Basis for oplnlon
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and
applicable law. Our responsibilties under those standards are furth¢r descTibed in the Auditor's responsibilities
for the audit of the financial statements section of our report. We are independent of the responsibilities for the
audit of the financial statements section of our report. We are independent of the society 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 sufficient and appropriate to provide a
basis for our opinion.
Conduslons relating to going concern
In auditing the financial statements. we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
B&8ed on the work perfo￿ned, we have identified any material uncertainties relating to events or
conditions that, individually or collectively. may C<￿t doubt on the Society's ability to continue as a going
concem tor a period ot at least twelve months trom the date when the tinanci<il statemcnls are auihorised lor
issue.
Our responsibilities and the responsibililies of the tru.stees with respect to going concern arc described in the
relevant sections of this report.
Other inforniation
The trustees are responsible for the other information. The other information comprises the information
includcd in the annual report, othcr than the financial statements and our auditor's report thereon. Our opinion
on th¢ financial statements does not cover the other information and, except to the extent otherwise explicitly
stated in our report. we do not express any forni of assurance conclusion thereon.
Page 6

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
In connection with our audit of the financial statements, our responsibility is to read the other inforniation and.
in doing so, consider whether the other inforniation is materially inconsistent with the financial statements or
our knowledge obtained in the audit or otherwise appears to be materially mibstated. If we identify such
material inconsistencies or apparent material misstatements. we are required to determine whether there is a
material misstatement in the financial statements or a material misstatement of the other information. If, based
on ihe work we have performed, we conclude that there is a material misstatement of this other infomation,
we are required to report that fact.
We have nothing to report in this regard.
Matters on whlch we are requlred to report by exception
In the lighi of our knowledge and understanding of the society and its environment obtained in the course of
the audit, we have not identified material misslalements in the report to the trustees. We have nothing to report
in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations (NI)
2015 and the Industrial and Provident Societies Act (NI) 1969 and 1976 requires us to report to you if. in our
opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been
receiv¢d from branches not visited by us. or
the financial statements are not in agreement with the accounting records and returns. or
certain disclosures of trustees, remuneration specified by law are not made- or
we have not received all the infonnation and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the statement of trustees, responsibilities set out on page 4, the trustees are
responsible for the preparation of the fLnancial statements and for being satisfied that they give a tNe and fair
view, and for such internal control as the tn]sl¢es determine is necessary to enable the preparation of financial
statements that are free from material misstatement, wheiher du¢ to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the society's ability to continue
as a going concern, disclosing. as applicable. matters related to going conccrn and using th¢ going concern
basis of accounting unless the trustees either intend to liquidate the society or to cease operations. or have no
realistic alternative but to do so.
Auditor's responsibilities for the audit of the fjnancial statements
We have been appointed as auditor under section 65(2) of the Charities Act (Northern Ireland) 2008 and
report in accordance with regulations made under section 66 of that Act.
Our objectives to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error. and to issu¢ an auditor's report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misstatement whe.n it e.xi,st,8. Mi8.8tatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
Page 7

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Irregularities, including fraud. are instance5 of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of
irregularilies, including fraud. The extent to which our procedures are capable of detecting irregularities.
including fraud is detailed below:
Based on our understanding of the society and the environment in which it opeiates, we identified that the
principal risks of non-compliance with laws and regulations related to those standard to charitable societies,
and we consAder¢d the extent to which non-compliance might have a material effect on the financial
staiements. We also considered laws and regulations that have a direct impact on the preparation of the
financial statements such as the Industrial & Provident Societies (Nl) Act 1969 and 1976, Charities Act (Nl)
2008 and payroll tax,
Audit procedures irAcluded the following..
Inspecting correspondence with regulalors aThd tax authorities;
Discussions with management including consideration of known or suspected instances of non-compliance
with laws and regulations and fraud.
Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations;
Identifying and testing journals and the rational¢ behind significant or unusual transactions. in particular
journal entries posted with unusual account combinations. postings by unusual users or with unusual
descriptions-
Challenging assumptions and judgements made by management in their critical accounting estimates.
Owing to the Inherent limitations of an audit. there is an unavoidable risk that we may not have detected some
material misstatement5 in the financial statements, even though we have propeTly planned and performed our
audit in accordance with auditing standards. For example, the further removed non-compliance with laws and
regulations (irregularities) is fiom the events and transactions reflected in the financial statements. the less
likely the inherently limited procedures required by auditing standards would identify it.
In addition. as with any audit, there remains a higher risk of non-detection of irregularities as these may
involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We
are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all
laws and r¢gulations.
As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain
prolebSlUlldl sLepLicisrri ttiruugliuul Ikie liudil. We <ilsv'.
Identify and assess the risks of material misstatement of the financial statements. whether due to
fraud or error, design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from effor, as
fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of
internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances, but not for the pU￿oSe of expressing an opinion on the
effectiveness of the society's internal conlrol.
Evaluate the appropriaieDess of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the trustees.
Page 8

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Conclude on the appropriateness of the tn]stees' use of the going concern basis of accounting and,
based on the audit evidence oblained, whether a material uncertainty exists related to events or
conditions that may cast significant doubt on the socieiy's ability to continue as a going concern. If
we conclude that a material uncertainty exists, we are required to draw attention in our auditor's
report to the related disclosurts in the financial statements or, if such disclosures are inadequate. to
modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our
auditor's report. However, future events or conditions may cause the society to cease to continue as a
going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the
disclosures, and whether the financial statcments represent the underlying transactionb and events in
a n]allner that achieves fair presentation.
We communicalc with those charged with governance regarding, among othcr matters. the planned scope and
timing of the audit and significant audit findings, including significant deficiencies in internal control that we
Adentlfy during our audit.
Use of our report
This report is made solely to the charitable society's trustees. as a body, in accordance with Section 38 of the
Induslrial and Provid¢ni Socielies Act (Nl) 1969 and 1976. Our audit work has been undertaken so that we
might state lo th¢ society's members ihose matters we are required to state to them in an auditors, report and for
no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone
other than the society and the society's members as a body, for our audit work, for this report, or for the
opinions we have formed.
Gerard Murray (SLlllUI' ,Sthlu(ory Auditor)
For and on behalt ot McDaid Mccullough Moore
Chartered Accountants and
Statutory Auditor
28132 Clarendon Street
Derry
BT48 7HD
N. Ireland
6 July 2023
Page 9

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Statement of Financial Activities (Including the Income and Expenditure Account}
For the year ended 31 March 2023
Unrestricted Restricted Endowment
funds
funds
funds
2023
Total
2022
Total
Notes
Income and endowments fTOm:
Other trading activities
Investments
Charitable activities
9,867
10,886
1,182,078
9,867
5,205
10,886
370
1,182,078 1,186,631
Total income and endowments
1.202.831
1,202,831 1.192,206
Expenditure on:
Charitable activities
1,332,828
1.332.828 1,158.256
Total expenditure
1,332,828
1,332,828 1,158,256
Net Income l (expendfiture)
(129,997)
(129,997)
33,950
Net movement In funds
(129.997)
(129,997)
33,950
Reeoneiliation of funds:
Total funds brought forward
1.1.54,4611
1,154,468 1,120,518
Total thnds carrled forward
1,1124,471
I,(1?4,471
1,154,468
All income and expenditure derive from continuing aclivities.
T()tal com
rcliciisivL' iiiciiiiie r(ii' tliL'
L'ar
Net movement In ￿ndS
Revaluatlon of tanglble assets
(12l),9()7)
33,950
521),OnO
(129,997)
553,950
The Notes on pages 13 to 24 fom an fintegral parl of these Flnancial Statements.
Page 10

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Registration Number IP 202
Balance Sheet
as at 31 March 2023
2023
2022
Notes
Fixed Assets
Tangible Assets
14
510,410
526,600
Current Assets
Debtors
C<ish at Bank and in Hand
15
148.073
946.731
133,957
1,083,578
1,094,804
1,217,535
Creditors: Amounts falling
due within one year
16
(81,535)
(80,058)
Net Current Assets
1,013,269
1,137,477
Total Assets Less Current
Liabilities
1,52.3,679
1,6C)4,Q77
Net Assets
1,523,679
.664,077
Charity Funds
Called Up Share Capital
Revaluation Reserve
Unrestricted funds
17
21
19
491),2011
1,024,471
SOY,C)l)11
J,154,468
Total charity funds
1.521,fi79
I,Cif14,077
The financial statements are Prepared in accordance with the provisions applicable to small companies subject
to the small companies regime and in accordance with FRS102 SORP.
The. financial ,8tAt.e,ment.s we.re. FIDPTnveAI And Hiithorise.d fnr i.ssiie. hy the. Tniste.es nn fi .Tiily 2n23 And 8igne,d nn
its behalf by
Geraldine Mellon
Trustee
Deirdre O'connor
Trustee
John Peto
Secretary
The Notes on pages 13 to 24 forn] an integral part of these Financial Statements.
Page 11

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Statement of Cash Flows
for the year Ended 31 Mareh 2023
2023
2022
Notes
Reconciliation of Net Expenditure to Net
Cash outtlow from Operating Activities
Net Income l (Expenditure)
Baiik IiiLerest ReceiveLI
Depreciation
(Increase) in DebtoTs
In¢r¢ase in Creditors
(129 1)97)
{ I l),li8C))
5.790
(14,116)
1.477
33,950
(370)
5,971
2,326
25,764
Net Cash outtlow from Operating Activities
(147,732)
67,641
CASH FLOW STATEMENT
Net Cash oufflow from Operating Activities
Cash flow from investing activities
Capital Expenditure
(147,732)
10,886
67,641
370
(340)
24
(136,846)
(i)
67.671
Cash flow from financing activities
24
Decrease in cash and cash equivalents in the year
(136,847)
67,672
Reconciliation of Cash equivalents
Decrease in cash and cash equivalents in the year
Cash and cash Equlvalents at l April 2022
Cash and cash equivalents at 31 March 2023
(176.Y47)
1,083,-fi78
67,672
1,015 L)06
25
946,731
1,083,578
Page 12

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Notes to the Financial Statements
for the year Ended 31 March 2023
Accounting Polieles
1.1. Aeeounting Convention and basis of preparation
The charity constitutes a public benefit entity as defined by FRS 102. DERRY YOUTH AND
COMMUNITY WORKSHOP LIMITED is a private society limited by shares, registered in Northern
Ireland under the Industrial and Provident Societies Acts (Nl) 1969 and 1976. The address of the
registered office i,$ 6 .8ociety Street, Dery. BT48 6P.T.
The financial statements have been prepared under th¢ Historical Cost convention modified to include
the revaluation of certain fixed assels and in accordance with 'Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to charities p￿parIng their accounts in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)',(Charities
SORP(FRS 102))(effective l January 2019), the Charities Act N12008 and the Industrial & Provident
Societies Act (NI) 1969 and UK Generally Accepted Practice.
The financial statements are prepared in sterling. which is the functional currency of the entity and
rounded to the nearest £.
The principal accounting policies applied in the preparation of these financial stalements are set out
below. These policies have been consistently applied to all years presented unless otherwise stated.
1.2. Fund Aecountlng
The funds of a charitable company can consist of Restricted Funds and Unrestricted Funds.
UnrestrACted funds are available for use at the discretion of the trustees in furtherance of the general
objectives of the charity and which have not been designated for other pU￿Oses.
Restricted funds funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the charity for particular PU￿0￿eS. The cost of raising and
administering such funds are charged against th¢ specific fund.
E4ndownieiit funds iepitseiit those assets which inust be held peinianeiitly by the charity. Income arising
on endowment funds can be used in accordance with ihe objects of the charity and is included as
unrestricted income. Any capital gains OT losses arising on the investments forni part of the fund.
Investment rnanagement charges and legal advice relating to the fund are charged against the fund.
Page 13

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Notes to the Financial Ststements
for the year Ended 31 March 2023
. continued
1.3. Income recognition
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is
legally entitled to the income after any perfonnance conditions have been fflet, Ihe amount can be
measured reliably and it IS Probable that the income will be received. Incoming Tesources include grant
incotne from various training prograrnmes. income from sales of services and investment income.
Fnr dnnations to be. recognise.d the charity will have he.en notified nf the arnounts and Ihe settleTnent.
date in writing. If there are conditions attached to the donation and this requires a level of performance
before entitlement can be obtained then income is deferred until those conditions are fully met or the
fulfilment of those conditions is within the control of the charity and it is probable that they will be
fulfilled.
The charity receives government grants in respect of various training programmes. Income from
government and other grants are recognised at fair value when the charity has entitlement after any
perforniance conditions have been met. it is probable that the income will be received and the amount
can be measured reliably. If entitlement Is not met then these amounts are deferred.
Investment income is earned through holding assets for investment purposes. It includes interest and
rent. Where it is not practicable to identify investment management costs incurred within a scherne with
r¢asonable accuracy the investment income is reported net of these costs. It is included when the
amount can be measured reliably. Interest income is recognised using the effective interest method and
rent income is recognised as the charity's right to receive payment is established.
Page 14

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Notes to the Financial Statements
ror the year Ended 31 March 2023
continued
1.4. F.xpendilure recognition
All expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all costs related to Ihc catcgory. Expenditure is recognised where there is a legal or
constructive obligation to make payments to third parties. it is probable that the settlement will be
required and the amount of the obligation can be measured reliably.
IrrecnverAhle VA T 1.% charge.d as an e.xpe.nse against Ihe activity fnr which expenditure ar(Tr8e.
Grants payable to third parties are within the charitable objectives. Where unconditional grants. are
offered, this 15 accrued as soon as the recipient is notified of the gr<tnt, tis this givcs rise to a reasonable
expectation that the recipient will receive the grants. Where grants are conditional relating to
performance then the grant is only accrued whcn any unfulfilled conditions are outside of the control of
the charily.
Support costs are those that assist the work of the charity but do not directly represent charitable
activities and include office costs, governance costs, administrative payroll costs. They ar¢ incurred
directly in support of expendiluT¢ on the objects of the charity, Where support costs cannot be directly
attributed to particular headings they have been allocated to cost of raising funds and expenditure on
charitable activities on a basis conslstent with use of the resources.
Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of
disseminating infomation in support of the charitable activities.
1.5. Tangible Fixed Assets and Depreeiatfion
Depreciation is provided at rates calculated to write off the cost or valuation les5 Tesidual value of each
asset over its expected useful life, as follows:
Property
Fixtures, Fittings
and Equipment
Motor Vehicles
Straight Line over fifiy Years
12.5%. 20% & 25% Straight Line
20fo Straight Line
1.6. Debtors and creditors receivable I payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded
at transaction price. Any losses arising from impaimient are recognised in expenditure.
1.7. Pensions
The pension costs charged in the financial statements represent the contribution payable by the society
during the year.
1.8. Going Concern
The financial statements have been prepared on a going concern basis. The trustee5 have considered the
level of funds held and the expected level of income and expenditure for 12 months from authorising
these financial statements. The budgeted incorne and expenditure is sufficient with the level of reserves
for the chaiity to be able to coiitiiiue as a golng concerii. See iiote 26 for fuither detail.
Page IS

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Notes to the Flnanclal Statements
for the year Ended 31 March 2023
. continued
lllcome from other tradlng Aetlvltles
Unrestricted
funds
2023
Total
2022
Total
Sales of Services
Job Start Scheme
6,723
3,144
6,723
3.144
585
4,620
9,867
9.867
5.205
Income from Investments
Unrestricted
fullds
2023
Totsl
2022
Totsl
Bank Deposit Interest
l (),X8()
370
Income from charitable activities
Unrestricted
funds
2023
Total
2022
Total
Training for Success
Skills For Life and Work
ESF Lernis North West
ESF Learning North West
ESF Seeds Programme
54,187
115,219
340,2(JU
76,707
195,675
54,187
18(),.524
115,219
39,047
(?4Q.2L)O
.% 911,287
176,707
17(l.C)40
195,675 200,133
1,182,078 1,182,078 1,18fi,Ci31
Page 16

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Notes to the Finandal Statements
for the year Ended 31 March 2023
. continued
Expendlture on Charltsble Aetlvfitles
Unrestricted
funds
2023
Total
2022
Total
Direct staff coÈts
Redundancy Costs
Materials
Allowances to trainees
JAC OutgTOUP Costs
Le4rning NW Costs
Seeds Costs
Examination & Registration Fe¢s
Trainee Bonuses
Job Directions ESF
Trainee Travel Expenses
Governance Costs (note 6)
Administration Costs (note 7)
639,732 639,732
156,624 156,624
6,451
6,451
33,813
33,813
156
156
545
545
604,522
32,530
9,153
40,575
165
463
562
10,934
12,542
1,770
6,550
127,755
120,416
3,478
2,498
13,352
11,699
338,218 316,581
10,934
1,770
127,755
3,478
13,352
338,218
1,312,8?14 1,312,828 1,158,256
Expendlture on Governance Costs
Unrestricted
funds
2023
Totsl
2022
Total
Auditors, Remuneration - audit of the financlal statements
Legal and Professional Fees
8,(1()6
4.686
8,666
4,686
8,616
3,083
13,352
13,352
11,699
Page 17

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Notes to the Financial Statements
for the year Ended 31 March 2023
. continued
Admlnlstratlon Costs
Unrestricted
funds
2023
Total
2022
Total
Adilliiiists'atioii & Maiiageiiient Staff Costs
Staff Training
Rent Payable
Insurance
Light & Heat
Cleaning
Repairs & Maintenance
Safety Equipment & Clothing
Printing, Postage & Stationery
Advertising
Telephone
Motor Expenses
Travelling & Entertainment
Bank charges
General Expenses
Depreciation
Amortised from Revaluation Reserve
214,112 214,112
195.550
1,108
1.108
1.965
16,160
16.160
16,160
16,918
16.918
16,588
25,906
25.906
21,186
5,780
5,780
4.979
14,133
14,133
13,383
4,405
4,405
4,207
10,773
10,773
9.507
2,193
2.193
2.283
13,828
13,828
19,385
1,287
1.287
680
2,876
2.876
1.987
1,542
1.542
1.525
1,407
1.407
1,225
16.190
16,190
16,371
(111.41111) (10.4110) (111,401))
338,2111
138,2111
316,581
Net incomel(Expenditure) for the year
2023
2022
Net. inc()me l (expelldit.iJre) is %t2ted afttr charging,.
Depreciation of Tangible Assets
Auditors, Remuneration
5,790
8,666
5,971
8,616
Auditors, remuneration
2023
2022
Auditors, remuneration - audit of the financial statements
8,666
8,616
Page 18

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Notes to the Flnanclal Ststements
for the year Ended 31 March 2023
. continued
10. Employment Costs
2023
2022
Wages and Salaries
Redundancy Costs
Social Security Costs
Other Pension Costs
763,337
156,624
66,527
23,980
718,627
32,530
58,681
22,764
1,0 I n,4()8
32,()0?
Number of Employees
The average monthly numbers of employees during the year, calculated on the basis of full time
equivalents, was as follows:
2023
Number
2022
Number
DirectlProgramme related staff
Administrative staff
Management staff/Chief Executive
25
24
31)
29
The number of employees whose total employee benefits (excluding employer pension costs) amounted
to over £60,000 in the year were as follows:
2023
Number
2022
Number
£60,￿0 - £70,(M)O
£70,￿1 - £80,IJ)o
Included above are three Trnstees of Derry Youth and Community Workshop Limit¢d, the Chief
Executive and two administrative staff.
Page 19

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Notes to the Financial Statements
for the year Ended 31 March 2023
. continued
li.
Chief Executlve and Trustees, emoluments
2023
2022
Remuneration and Other Benefits
SoLial SeLuriLy Cuslb
132,628
14.373
122,279
12.413
147.001
134.()1)2
Number
Number
Number of Trustees to whom retiren]ent benefits
are accruing under a money purchase scheme
12. Pension Costs
The society operates a defined contribution pension schemc. The scheme and its assets are held by
independent managers. The pension charge represents contributions due from the society and amounted
to £23.980 (2022 - £22.764). Outstanding pension contributions at the balance sheet date amounted to
£5,931 (2022- £5,526).
13. Taxation
The charity's activities fall within the exemptions afforded by the provisions of the Income and
Corporation T&xes Act 1988. Accordingly, th¢re is no taxation charge in these accounts.
Page 20

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Notes to the Flnancial Statements
for the year Ended 31 March 2023
. continued
14. Tangible Fixed Assets
Fixtures,
Fittings
Property Equipment
Motor
Vehicles
Total
Costlrevaluation
At l April 2022
At 31 March 2023
520,000
199,347
19,650
738,997
Depreeiatjon
At l April 2022
Charge for the year
10.400
10,400
196.675
877
5,322
4,913
212,397
16,190
At 31 March 2023
20,800
197,552
10,235
228,587
Net Book values
At 31 March 2023
41)() ?()()
1,795
9,415
510.410
At 31 March 2022
2,672
14,328
.52(),()1111
The property was valued on 26 January 2022 at £520,000, The valuation was carried out by
independent valuer James ODoherty & Co, Chartered Surveyors. Valuers and Property Consultants
on the basis of Market Value.
15.
Debtors
2023
2022
Training for Success 2017
Skills For Life and Work
ESF ￿miS NoTth West
ESF LKarning North West
ESF Seeds Programme
Other Debtors
Prepayments
5,715
16,129
53,423
24,171
46,008
957
1,670
5.218
14,378
47,083
14,472
50,039
1,260
1,507
148,073
133,957
Page 21

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Notes to the Finaneial Statements
for the year Ended 31 March 2023
. continued
16.
Creditors: Amounts Falling Due
Wfithln One Year
2023
2022
Trade creditors
Other taxes and social security costs
Accrnals and deferred income
3,423
19,472
f11,(140
6,674
16,913
56,471
81,535
80.(1.58
17. Share Capital
2023
2022
Allotted, called up and fully paid equity
8 Ordinary share.s of £1 each
18.
Analysis of net assets between funds
Unrestricted Revaluation
funds
Reserve
Total
funds
Fund balances at 31 March 2023 as represented by:
Tangible fixed assets
Current assets
Current liabilities
11.210
1,1194,11114
(81,535)
499,200
510.410
1,094.804
(81.535)
1,1124,479
49() ?00
1,523,679
19.
Unrestricted Funds
2023
2022
Opening general funds
Incoming resources
Outgoing rcsources
1.154.468 1.120,518
1.202,831 1,192,206
(1,332,828) (1.158.256)
Closing general funds
1,024,471 1,154,4()8
Purposes of unrestricted funds
Unrestricted funds ar¢ funds that expendabl¢ at the discretion of the trustees in furtherance of the
harity's objects,
Page 22

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Notes to the Financial StAtements
for the year Ended 31 March 2023
. continued
20.
R¢strActed funds
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the charity for particular purposes, Derry Youth and
Conllnunity Workshop Limited did not have any restricted funds in the ye<W.
21.
Revaluatfion Reserve
2023
2022
Opening Revaluation Reserve
Gain on revaluation of fixed assets
Other Movements
-511l),()(11)
-fj21),11(10
(10,41)()) {10,4(111)
Closing Revaluation Reserve
49(),2jlll
5(1().()(111
Puryoses of Revaluatlon Reserves
Revaluation reserve records the value of assel revaluations and fair value movernents on assets
recognised in other comprehensive income.
The property was valued on 26 January 2022 at £520,IJ)O by James O'Doherty & Co, Chartered
Surveyors, Valuers and Property Consultants on the basis of Market Value.
22.
Contingent Liabilities
Grants received could be repayable in certain circumstances as set out in the letters of offer.
23.
Controllfing Party
The trustees (Committee of Management) are considered to be the charity's controlling party.
Page 23

DERRY YOUTH AND COMMUNITY WORKSHOP LIMrrED
Notes to the Financial Statements
for the year Ended 31 March 2023
. continued
24.
Gross Cash Flows
2023
2022
Cash flow from finvestlng aetlvfitios
Interesl received
111.8156
370
Capital expenditure
Payments to acquire tangible asset8
(340)
Cash flow from financing activities
Reduction of Ordinary share capital
25.
Analysis of Changes in cash and cash equivaIents
Openlng
balance
Cash
flows
Closing
balance
Cash at bank and in hand
,()8?.578
(136,847)
946.731
Cash and cash equlvalents
1.083.5715
(136,847)
946.731
Going Concern
At the end of the financial year the funding from the European Social Fund ended. This marked the end
of the L£mis North West, Learning North West and Seeds Programmes. These programmes made up
84% of the society's iiicoiiie in the ye&. As a tonsequeiice the society had to uiidertake cost cutting
measures which Tesulted in a number of redundancies. The society is exporing sources of future
funding.
At the balance sheet date the society's net assets were £1.523.679 which includes net cu￿ent assets of
£1,013,269, accordingly the society is in a strong financial position. The management have prepared
cashflow projections covering the period to 30 June 2024 which show that the society will have
sufficient funding to carry out its operating activities. As a result the trustees have continued to adopt
the going concern basis in the preparation of the financial statements.
Page 24