ClIAri
Numl)cr . NIC100321
isti'atioii Nuwbei"
IP 202
DERRY YOUTH AYJ D COMMUF41TY WORKSHOP LIMITED
Ti'iistees, Rc
ort and f4in#neial Stllteiiients
foi" tlic
eAr nded 31 March 2024

DERRY YOUTH AND CO￿￿￿(ur￿ WORKSHOP LIMITED
Contents
Page
Legal and Administrative Inforn]ation
Report to Trustees
Independent Auditors, Report
Statement of Financial Activities
10
Balance Sheet
11
Statement of Cash Flows
12
Notes to the Financial Statements
13-25

DERRY YOUTH AIYD COMMUNITY WORKSHOP LIMITED
Legal and Admillistrative Information
Committee of Managementrrrustees
Declan Doherty
Anne Marie Donnelly
Geraldine MelIon
Eleanor Conaghan
John Peto
Deirdre O'connor
Danny Friel
Catherine BaLT
Secretary
John Peto
Soclety Number
IP 202
Charlty Number
NIC1003?1
Re%istered O￿lee
6 Society Sts'eet
Derry
BT48 6PJ
Auditors
M¢Daid Mccullough Moore
Chartered Accountants and
Statutory Auditor
28132 Clarendon Street
Derry
BT48 7HD
N. Ireland
Business Address
6 Society Street
Derry
B T48 6PJ
Bankers
Allied Irish Bank
Meadowbank
Strand Road
Deny
BT48 7TN
Solicitors
Babington & Croasdaile
Solicitors
9 Limavady Road
Derry
Page I

DERRY YOUTH AND COIWIIUNITY WORKSHOP LIMITED
Report of the trustees
for the year ended 31 March 2024
The Trnstees (in their capacity as Trustees and Conlmittee of Management) present their report and the
fu￿nCIal statements for the year ended 31 March 2024. The trustees who scrved during the year and up to the
date of this report aTe set out on page l. The trustees have adopted the provisions of the Statement of
Recommended Practice (SORP) "Accounting and Reporting by Charitics (FRS 102)(effcctivc l January
2019) in preparing the annual report and fmancial statements of the charity.
Structur4 governance and management
Governing document
The organisation is a charitable limited society registcred under the Industrial and Provident Societies Act
(Northern Ireland) 1969 (Society Numbcr IP 202). It is recogniscd as a charity by HM Rcvenuc and Customs
(r¢ferencc XR57120). The society's charity number is NICI00321. The society's governing document is its
Rules dated 30 March 1978.
Organisational slnicliire
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
Board. The trustecs meet monthly to review perforn]ance, deterniine 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 S￿Iety. 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 fft4Stees
New trnstees are nominated by current trustee members. Induction and training of new trustees is provided by
the Chief Executive of th¢ society and covers:
i) The obligations of the trustees (Committee of Management members).
ii) The main documents which sct out the operation framework for the society including the Rules of Deny
Youth and Community Workshop Limited;
iii) Resourcing and thc current fmancial position as set out in the latest published accounts.
iv) Future plans and objectives
Governance, internal control and risk management
The management of Dcry Youth and Community Workshop Limited has conducted its own revicw of the
major risks to which the society is exposed and systems have been established to mitigate those risks.
Significant external risks relating to funding have led to development of a strategic plan which will allow for
the diversification of fill]ding and activities. Internal risks are minimis¢d by th¢ impl¢m¢ntation of procedures
for authorisation of all transactions and pro￿ammes.
Page 2

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Report of the trustees
for the year ended 31 MArch 2024
Objectives and Aetivltles (and how they dellver public benefit)
Charitable objects
The society was established under Rules of Derry Youth and Community Workshop Limited dated 30 March
1978 which established the objects and powers of the charitable society.
Public benefit
Dcrry Youth and Community Workshop Limited strives to ensure that they provide public benefit. Public
benefit is at the heart of what it means to bc a charity. The principle objective of the 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 Limited provided a number of training
programmes such as Training for Success, Skills For Life and Work, OCN Skills For Life and Work Wellness
Programmc, PHA Pcrsonal Surwss and Wcll-Bcing Project and provided training ,%ervic&8 to other chait.ahle
oi'&Tanisatioiis.
Achievements Ydnd performance
The results for the year are set out on pages l O and I l. The main programmes in operation during the year
were Training for Success, Skills For Life and Work, OCN Skills For Life and Work Wellness Programme
and PHA Personal Success and Well-Being Project. During the year the society also provided training services
to other charitable organisations.
Financial review
Income for the year to 31 March 2024 decreased from £1,202,831 in 2023 to £312,187. Net deficit in the year
increased to £410,410 (2023 £129,997). The f￿anCIal statements reflect the transition occurring in income
streams during the year.
Principalfynding sources
The principal funding sources of the charity during the year for the provision of its programmes are
Dq)artment for the Economy (DFE}, OCN Northern Ireland and Public Health Agency.
Invetstmentpolicy
The charity operates a prudent investment policy. Inv¢stmcnts are in the forni of short term low risk bank
dcposits.
Reserves policy
The trustees, (Committee of Management's) business plan cnsures adequate rescrves exist to meet the ongoing
requirements of the society. The general reSc￿e, comprising reserves of £614,061 (2023 - £1,024,471) at the
balance sheet date, is available to be applÈed at the discretion of the ttustccs (Conunittee of Management) to
any of the sociews charitable activities.
Restricted reserves are funds securcd for specific expenditure of a capital nature. Derry Youth and Community
Worksliop Limited have no restricted reserves at the balance sheet date.
Revaluation reserve records the value of asset revaluations and fair value movements on assets reCo￿ls¢d in
other comprehensive income.
Pvdge 3

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Report of the trustees
for the year ended 31 March 2024
Plans for future periods
The trustees continue to assess the perforn]ance of the society and their thture aims for Derry Youth and
Community Workshop Limited arc..
to continue the activities outlined above.
- maintain fmancial viability.
secure additional funding for new projects.
- to co-operate with other bodies to develop programmes.
At the end of the 2023 flliancial year the funding from the European Social Fund ended. This marked the end
of the Lemis North West, Learning North West and Seeds Programmes. These programmes madc up 840/0 of
the society's income 2023. As a consequence the society had to undertake cost cutting measures which resulted
in a numbu of redundancies. Income during the year from Charitable activities fell by 77 /0, from £1,182,078
in 2023 to £276,589 in the year. During the year the society has been exploring additional sources of future
funding.
At the bolllnce Sheet date the society'8 net ussets were £1,102,861) which includes net current assets ol.
£609,417, accordingly the society is in a strong fmancial position. The management have prepared Cashflow
projections covering the period to 30 June 2025 which show that the society will have sufficient funding to
cary out its operating activities, As a result the trustees have continued to adopt the going concern basis in the
preparation of the fmancial statements.
tn the event of the society ceasing to operate within the next twelve months, a provision for filllher redundancy
costs of approximately £300,000 would be requiied and would decrease the reserves.
Statement of disclosure of informAtioD to auditors
We, the trustees of the charitable society> who held office at the date of approval of these fmancial statements,
each confwm as far as we are aware, that:
there is no relevant audit inforniation of which the charitable societ)Os auditors are unaware. and
we have taken all steps that we ought to have taken as trustccs in ordcr to make ourselves aware of any
relevant audit infolination and to establish that the CharIt￿S auditors are aware of tliat inforniation.
Page 4

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Report of the trnstees
for the year ended 31 March 2024
ststement of Trustees, Responsibilities
The trnstecs (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 fmancial
statements in accordance with applicable law and Unitcd Kingdom Accounting Standards (UDlted Kingdom
Generally Accepted Accounting Practice).
Company law requires the trnstees to preparc financial statements for cach fll]ancial year, which give a true
and fair view of the state of affairs of the charitable society and of the incoming resources and application of
resources, including the income and expenditure, of the charitable society for that period. In preparing these
fmancial statements, the trustees arc rcquired to:
select suitable accounting policies and then apply them consistently;
obscivc tlie illetliods atid pi'illLiples iIi tlie Cliai'itieb SOIIP 20 19 (FRS 102).
Iiiakc jULl8eiiieiiLs aiiLI aLLiiiiiil.iii¥ ¥41,ilTIAlr.% l.Iixl. are. re.H4lTrTIHhlv. Afl(1 prii(IvTII.'
state whether applicable UK Accounting Standards have been followed, subject to any material departures
disclosed and explained in the fllwicial statements;
prepare the fmancial statements on the going concern basis unless it is inappropriate to presume that the
charitable society will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at
any time the fll]ancial position of the charitable society and enable them to ensure that the fmancial statements
comply with the Industrial & Provident Societies (NI) Act 1969 as amended. They are also responsible for
safeguarding the assets of thc charitable society and hence for taking reasonable steps for the prevention and
detection of fraud and other iffegularities.
Auditors
A resolution proposing that McDaid Mccullough Moore be reappointed as auditors of the charity will be put
to the Annual General Mccting.
behalf
he trustees
fvqo9
Declan Doherty
Anne Marie Donnelly
Jolin P¢to
Dated: 18 July 2024
Page 5

DERRY YOUTH AND COMMUNrfY WORKSHOP LIMITED
Independent auditors, report to the trustees of
DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Opinion
We have audited the fll]ancial statements of the charitable society , Derry Youth and Community Workshop
Limited, for the year ended 31 March 2024 which comprise of the statement of fmancial activities, the Balance
Sheet, the Statement of Cash Flows and the related notes. The fmancial reporting framework that has been
applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom
Generally Accq)ted Accounting Practice).
In our opinion the fmancial statements:
give a true and fair view of the state of the charitable societys affairs as at 31 March 2024 and of its
incoming resources and application of rcsources, including its income and cxpendilure and cash
flows for the year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice and
have been prepared in accordance with the requirements of the Jndustrial and Provident Societies
Acts (Nl) 1969 and 1976.
fvr oylllioll
We Loiiducied our audit lll 4iLLord<lTILL WAtli llltciiiational Standards on Auditing (UK) (ISAS (UK)) and
applicable law. Our responsibilties under those standards are further described in the Auditor's responsibilities
for the audit of the f￿anCIal statements section of our report. We are independent of the responsibilities for the
audit of the f￿ancial 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 fvlfilled 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.
Concluslons relatlng to going concern
In auditing the fmancial statements, we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of the fmancial statements is appropriate.
Based on the work perfonned, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively. may cast doubt on the Society's ability to contillu¢ as a going
concern for a period of at I￿st twelve months from the date when the fmancial statements arc authorised for
issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern arc described in the
relevant sections of this report.
Other information
The trustees are responsible for thc Oth￿ inforniation. The other inforniation comprises the inforniation
included in the annual repor¢ other than the fmancial ststements and our auditor's report thereon. Our opinion
on the f￿anCIaL statements does not cover the other inforn]ation and, except to the extent otherwise explicitly
stated in our report, we do not cxpress any fonn of assurance conclusion thereon.
Page 6

DERRY YOUTH AND COMML UNITY WORKSHOP LIMITED
tn connection with our audit of the fmancial statements, our responsibility is to read the other inforniation and.
in doing so, consider whether the other information is materially inconsistent with the fmancial statements or
our knowledge obtained in the audit or othenvise appears to be materially misstated. If we identify such
material inconsistencies or apparent material misstatemcnts, we are required to determine whether theIe is a
material misstatement in the financial statements or a material misstatement of the other infonnation. If, based
on the work we have perforn]ed, we conclude that there is a material misstatement of this other inforn]ation,
we are required to report that fact.
We have nothing to report in this regard.
Matters on which wc are required to report by exception
ID the light of our knowledge and understanding of the society and its environment obtaincd in the course of
the audit, we have not identified material rnisstatements 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 (Nl)
2015 and the Industrial and Provident Societies Act (ND 1969 and 1976 requires us to report to you if, in our
opinion:
adequate accnunting recoTds hav¢ not been kept. or returns adequate for our audit have not been
received tsom branches not visited by us. or
the fmancial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees, remuneration specified by law arc 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 5, the trustees are
responsible for the preparation of the flnancial statements and for being satisfied that they give a Irne and fair
view, and for such internal control as the trustees deterniine is necessary to enable the preparation of fmancial
statements that are free from material misstatement, whether due to fraud or error.
In preparing the f￿anCIal statements, the trustees are responsibl¢ for assessing the socicty's ability to continue
as a going concern, disclosing, as applicable, matters related to going concern and using the going concern
basis of accounting unless the trustees either inlend to liquidate the society or to cease operations, or have no
realistic alternativc but to do so.
Auditor's responsibilities for the audit of the flnancial statements
We have been appointed as auditor under section 65(2) of the Charities Act (Northem Ireland) 2008 and
report in accordance with regulations made under section 66 of that Act.
Our objectives are to obtain reasonable assurance about whether the fmancial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue 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 when it exists. Misstatements 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 fmancial statements.
Page 7

DERRY YOUTH AND COMMUNrrY WORKSHOP LIMITED
Jrregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of
irregularities, 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 operates, we identified that the
principal risks of non-compliance with laws and regulations related to those standard to charitable societies,
and we considered the extent to which non-compliance might have a material cffect on the flluncial
statements. We also considered laws and regulations that have a direct impact on the preparation of the
fmancial statements such as the Industrial & Provident Societies (NI) Act 1969 and 1976, Charities Act (Nl)
2008 and payroll tax.
Audit procedures included the following:
Inspecting correspondence with regulators and tax authorities.
Discussions with management illcluding consideration of known or suspected instances of non-compliancc
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 rationale be]]ind Si￿lfICallt or unusual transactions, in particular
journal entries posted with unusual account combinations, postings by unusual users or with unusual
dc8CriPtions;
CliallenAinA assumptioiis aLid.jud2eiiients inade by inaiiaReineiit lll tlieir ci'itlLal aLLounllllX cslimat¥¥.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some
material misstatements in the fmancial statements, even though we have properly planned and perfonned our
audit in accordancc with auditing standards. For example, the further removed non-compliance with laws and
regulations (irregularities) is from the events and transactions reflected in the fmancial 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 non4etection 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 regulations.
As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain
professional scq)tRcism throughout the audit. We also:
Identify and assess the risks of material misstatement of the fmancial statements, whether duc to
fraud or error, design and perforni 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 error, as
fraud may involve collusion, forgery, intentional omissions, misrcpresentations, 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 purpose of expressing an opinion on the
effectiveness of the society's internal control.
Evaluate the appropriatcness 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 trustees, use of the going concem basis of accounting and,
based on the audit evidence obtained, whether a material uncertainty exists related to events or
conditions that may cast significant doubt on the societls ability to continuc as a going concern. If
we conclude that a material uncertainty exists, we arc required to draw attention in our auditor's
report to the related disclosures in the fmancial 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 prcscntation, structure and contcnt of the fmancial statements, including the
disclosuTes, and whether the fmancial statements represent the underlying transactions and events in
a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and
timing of the audit and significant audit fmdings, including significant deficiencics in internal control that we
identify during our audit.
Us¢ of our report
This report is made solely to the charitable societ)Os trustees, as a body, in accordance with Section 38 of the
Industrial and Provident Societies Act (Nl) 1969 and 1976. Our audit work has been undertaken so that we
might state to the societgs members those matters we are required to state to them in an auditors, report and for
no other pury)osc. To the fullest cxtcnt pennitted by law, we do not accept or assumc responsibility to anyone
other than the society and the societ￿S members as a body, for our audit work, for this report, or for the
opinions we have fornied.
Gerard
ui'i'ay {SLiiior .Stalu
For and on behalf of McDaid
Chartered Accountants and
Statutory Auditor
28132 Clarendon Street
Derry
BT48 7HD
N. Ireland
Auditor)
cc'mllough Moore
18 July 2024
Page 9

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Statement of Financial Activities (Includlng the Ineome and Expenditure Account)
For the year ended 31 March 2024
Unrestricted Restricted Endowment
funds
funds
funds
2024
Total
2023
Total
Notes
Income and endowments from:
Other trading activities
Investment
Charitable activities
12,781
22,817
275,175
12,781
9,867
22,817
10,886
276,589 1,182,078
1,414
Total income and endowments
310,773
1,414
312,187 1,202,831
i xpenditure on:
C.liai'ital)Ic Act.ivit.1&8
721,1 Rl
1,414
722,597 J,-332,112R
Total expenditure
721,183
1,414
722,597
1,332,828
Net Illcome l (expenditure)
(410,410)
(410,410) (129,997)
Net movement in funds
(410,410)
(410,410) {129,997)
Reconciliation of funds:
Total funds brought fonvard
1,024,471
1,024,471
1,154.468
Total funds carried forward
614,()61
614,061
1,024,471
All income and expenditure derive from continuing activities.
Total com
rehensivc income for the year
Net movement in funds
(410,410} (129,997)
(410,410) (129,997)
The Notes on pages 13 to 25 forni an integral part of these Financial Statements.
Page 10

DERRY YOUTH AND COMIIWNITY WORKSHOP LIMITED
RegAstrAtion Number IP 202
Balanee Sheet
as at 31 March 2024
2024
2023
Notes
Fixed Assets
Tangible Assets
14
493,452
510,410
Current Assets
Debtors
Cash at Bank and in Hand
15
13,033
623,392
148,073
946,731
636,425
1,094,804
Creditors: Amounts falling
due withill one year
16
(27,008)
(81,535)
et Current Assets
609,417
1,013,269
Total A88ets Less Current
Liabilities
1,102,869
1,523,679
Net Assets
I,lQ2,869
1,523,679
Charity Funds
Called Up Share Capital
Revaluation Reserve
Unrestricted funds
17
21
19
488,800
614,061
499,2nO
1,024,471
Total charity funds
1,102,869
1,523,(I79
The financial statements are prepared in accordance with the provisions applicable to small companies subject
to the small companies regime and in accordance with FRSI 02 SORP.
The financial statements were approved and authorised for issue by the Trustces on 18 July 2024 and signed
on its behalf by
Deelxii
Trustee
oliertv
Anne Marie Donnelly
Trustee
John Peto
Secretary
The Notes on pages 13 to 25 form an integral part of these Flnancial Statements.
Page 11

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Statement of Cash Flows
for the year Ended 31 March 2024
2024
2023
Notes
Reconciliation of Net Expenditllre to Net
Cash outtlow from Operating Activities
Net Income / (Expenditure)
Bank Interest Received
Depre£iation
Decrease / (Increase) in Debtors
(Decrease) / Increase in Creditors
(410,410)
(22,817)
6,558
135,040
(54,527)
(129,997)
(10,886)
5,790
(14,116)
1,477
Net Cash oufflow from Operating ActivAties
(346.156)
(147,732)
CASH FLOW STATEMENT
Nel c.asli oijl now fi'oiii Operatiiig Aclivilies
C,ash flow frnm inve,sting ac,tivitie,s
(14C), l.f fi)
22,X17
(147,712)
I11,XXh
24
(323.339)
(136,846)
(i)
Cash flow from fllwicing activities
24
Decrease in casb and cash equivalents in the year
(323,339)
(136,847)
Reconciliation of Cash equivalents
Decrease In caslj and cash equlvalents In the year
Cash and cash Equivalents at l April 2023
(323,339)
946,731
(136.847)
1,083,578
Cash and cash equlvalents at 31 March 2024
25
623,392
946,731
Page 12

DERRY YOUTH AND COMMUNKTY WORKSHOP LIMITED
Notes to the Ftnancial Statements
for the year Ended 31 March 2024
Accounting Poliefies
Accounting Convention and basls of preparation
The charity constitutes a public benefit entity as defined by FRS 102. DERRY YOUTH AND
COMMUNITY WORKSHOP LNITED is a private society limited by shares, registered in Northern
Ireland under the ]ndustrial and Provident Societies Acts (NI) 1969 and 1976. The address of the
registered office is 6 Society. Street, Dery, BT48 6PJ.
The fmancial statements havc been prepared under the Historical Cost convention modified to include
the revaluation of certain fixed assets and in accordance with 'Accounting and Rq)orting by Charities:
Statement of Recommended Practice applicable to charities preparing their accounts in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)',(Charities
SORP(FRS 102))(effective l January 2019), the Charities Act N12008 and the Industrial & Provident
Societies Act (Nl) 1969 and UK Generally Accepted Practice.
The rm￿LIa1 sl<ilcm¥rils Iirv prep<irvd ITI sl¢rliiLg* wliicli is llie fLUiLtAoiial curi'eiiLy of ilie ciitiiy ￿ld
roiinde.d to the. ne.are,st £,
Thc principal accounting policies applied in the preparation of these fmancial statements are set out
below. These policies have been consistently applied to all years presented unless othen¥ise stated.
1.2. Fund Accounting
The funds of a charitable company can consist of Restrictcd Funds and Unrestricted Funds.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the gencral
objectives of the charity and which have not been designated for other purposes.
Restricted fvnds 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. The Cost of raising and
administering such funds are charged against the specific fund.
Endowment funds represent those assets which must be held pennanently by the charity. Income arising
on endowment funds can be used in accordance with the objects of the charity and is included as
unrestricted income. Any capital gains or losses atising on the investments foml part of the fund.
Investment management 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 Statements
for the year Ended 31 March 2024
. continued
Ineome recognltion
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is
legally entitled to the income after any perforn]ance conditions have been met, the amount can be
measurcd reliably and it is probable that the income will be received. Incoming rcsources include grant
income from various training programmes, income from sales of services and investtnent income.
For donations to be recognised the charity will have been notified of the amounts and the scttlemellt
date in writing. If therc are conditions attached to the donation and this requires a level of perfonnancc
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 rcccives government grants in respcct of various training programmcs. Income from
government and other grants arc rccogni8ed at fair value when the charity has entitlement after any
perforn￿nCe conditions have been meL it is probable that the income will bc received and the amount
¥aii be llieasui'ed I'eliably. Il eiililleiiieiil is Iiol iiiel theii tliese ￿￿ountS at¢ dcferred.
Tnv&8tment incnme 18 earned thmugh holding as8et8 for invei*tmenl purpobeb. Il in¢ludes iiiieresl lind
rent. Where it is not practicable to identify investment management costs incurred within a scheme with
rcasonable accuracy the investment income is reported net of these costs. It is included when the
amount can be measured reliably. Int￿¢st income is recognised using the effective interest method and
rent income is recognised as the charity's right to receive pa>inent is established.
Page 14

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Notes to the Flnancial Statements
for the year EDded 31 March 2024
. continued
Expenditure recognltion
All expenditure is accounted for on an accrnals basis and has been classified under headings that
aggregate all costs related to the category. Expenditure is recognised where thcre is a legal or
constructive obligation to make payments to third parties, it is probable that the scttlement will be
required and the amount of the obligation can be measured reliably.
Ixoverable VAT is charged as an expense against the activity for which expenditure aros¢.
Grants payable to third parties arc within thc charitable objectives. Where unconditional grants are
offered, this is accrned as soon as the recipient is notified of the grant, as this gives rise to a reasonable
expectation that the recipient will receive the grants. Where grants are conditional relatiug to
perfonnance then the ￿alll is only accrued when any unfulfilled conditions are outside of thc control of
the charity.
Support costs are those that assist the work of the Charity but do not directly represent charitable
activities and include office ¢osts, governance costs, administrative pa￿011 costs. They <ire incurred
d￿￿(lY ill suppurL ul expelid1L￿e un ihe ubjeLLs' vf Lliurily. Wlivi'¢ suppvi'l ¥v?*l& LaAllioI be dll'txlly
dlli'il)uLed i)<AI'liLul¢ll' Iiudiii¥% Ili¥y lidV¥ I)¥¥ll dlliiLdLul Iu UUl¥l ul l%liSAll¥ fLillas alld ￿p¢lId1111A¢
charitable activities on a basis consistent with use of the resources.
Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of
disseminating infonnation in support of the charitable activitics.
1.5. Tanglble Flxed Assets and Depreciation
Depreciation is provided at rates calculated to write off the cost or valuation less residual value of each
asset over its expected useful lite, as tollows:
Propety
Fixtures, Fittings
and Equipment
Motor Vehicles
Straight Line over fifty Years
12.5 /0, 20 /0 & 25 /0 Straight Line
20 % Straight Line
1.6. Debtors and creditors receivable I payable within one year
Debtors and creditors with no stated intcrcst ratc and receivable or payable within one year are recorded
at transaction price. Any losses arising from impairment are recognised in expenditure.
1.7. Pensions
The pension costs charged in the fmancial statcmcnts rq)resent the contribution payable by the society
during the year.
1.8. Going Concern
The fmancial statements have been prepared on a going concern basis. The trustees have considered the
level of funds held and the expected level of income and expenditure for 12 months from authorising
these f￿ancial statements. The budgeted income and expenditure is sufficient with the level of reserves
for the charity to be able to continue as a going concern. See note 26 for further detail.
Page 15

DEIiRY YOUTH AND COMMUNrrY WORKSHOP LIMITED
Notes to the Flnancial Statements
for the year Ended 31 March 2024
. continued
Income from other trading Aetivitles
Unrestricted
funds
2024
Total
2023
Total
Salcs of Services
Job Start Schemc
12,781
12,781
6.723
3,144
12,781
12,781
9,867
Income from Ittvè6tth¢tttÈ
Ullre8trieted
funds
2024
Total
2023
Total
Bank Deposit Interest
22,817
22,817
10,886
Income from charltable activities
Unrestricted Restrlcted
funds
funds
2024
Total
2023
Total
Training for Success
Skills For Life and Work
OCN Skills for Life and Work Wellness PrO￿amMe
PHA Personal Success and Well-Bcing
ESF Lcmis North West
ESF Learning North West
ESF Seeds Programme
25,969
246,206
3,000
25,969
246,206
3.000
1.414
54,18
115,21
1,414
640,29
176.70
195,67
275,175
1,414
276,589 1,182,07
Page 16

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Notes to the Flnanelal Statements
for the year Ended 31 March 2024
. continued
Expenditure on Charltable Activlties
Unrestricted Restricted
funds
funds
2024
Total
2023
Total
Direct staff costs
Redundancy Costs
Materials
Allowances to trainees
JAC Outgroup Costs
Learning NW Costs
Examination & Registration Fees
Trainee Bonuses
Job DIr￿tionS ESF
Trainee Travel Expenses
Governance Costs (note 6)
Administration Costs (notc 7)
297,679
13,073
7,675
52,821
888
298,567
13,073
7,675
52,821
639.73
156,62
6,45
33,81
15
54
10,93
1,77
127,75
3,47
13,35
338,21
12,030
4,965
306
12,336
4,965
9,702
9,770
313,468
9,702
9,770
313,688
220
721,183
1,414 722,597 1.332,82
Expelldithre on Governance Costs
Unrestricted
funds
2024
Total
2023
Total
Auditors, Remuneration - audit of the fmancial statements
Legal and Professional Fccs
9,000
770
9,000
770
8,666
4,686
9,770
9,770
13,352
Page 17

DERRY YOUTH AND COMMUNITY WORKSHOP LIMtTED
Notes to the Financial Statements
for the year Ended 31 March 2024
. continued
Administration Costs
Unrestrleted Restricted
funds
funds
2024
Total
2023
Total
Administration & Management Staff Costs
Staff Training
Rent Payable
Insurance
Light & Heat
Cleaning
Repairs & Maintenance
Safety Equipment & Clothing
Prinling, Postage & Stationery
Adv¢rtising
Telephone
Motor Expenses
Travelling & Entertainment
Bank charges
General Expenses
Depreciation
Amortised from Revaluation Reserve
223,982
402
5,160
14,484
14,199
5.242
12,828
4,287
223,982
214,11
402
1,10
5,160
16,16
14.484
16,91
14,292
25,90
5.242
5,78
12,828
14,13
4.287
4,40
8.386
10,77
4,137
2,11)
9,548
13,82
888
1,28
1,420
2,87
1,352
1,54
722
1.40
16,958
16,19
(10,400) (10,40
93
73
4,137
9,494
888
1,420
1,352
722
16,958
(10,400)
54
313,468
220
313,688
Net Incomel(Expendithre) for the year
2024
2023
Nct income / (expenditure) is stated after charging:
Depreciation of Tangible Assets
Auditors, Remuneration
6,558
9,000
5,790
8,666
Auditors, remuneratlon
2024
2023
Auditors, remuneration - audit of the fmancial statements
9,000
8,666
Page 18

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Notes to the Flnancial Statements
for the year Ended 31 March 2024
. continued
10.
Employment Costs
2024
2023
Wages and Salaries
Redundancy Costs
Social Security Costs
Other Pension Costs
468,898
13,073
38,591
15,060
763,337
156,624
66,527
23,980
535,622
1,010,468
Number vf Emijluye
'I'h¢ average monthly niimbers ot emplnye,e.8 dijring t,he ycar, calculated on th¢ basis of fiill tim¢
equivalents, was as follows:
2024
Number
2023
Number
DirectlProgramme related staff
Administrative staff
Management stafflchief Executive
12
25
17
30
The number of employees whose total employee benefits (excluding employer pension costs) amounted
to over £60,000 in the year were as follows:
2024
Number
2023
Number
£70,001- £80,000
Included above are three Trustees of Derry Youth and Community Workshop Limited, the Chief
Executive and two administrative staff.
Page 19

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Notes to the Financial StAtements
for the yerdr Ended 31 March 2024
. continued
11.
Cbief Executive and Trustees, emoluments
2024
2023
Remuneration and Other Benefits
Social Security Costs
138,804
14,615
132,628
14,373
153,419
147,001
Number
Number
Number of Trustees to whom retirement bcnefits
are accruing under a money purchase scheme
12.
Pension Costs
The society operates a defmed contribution pension scheme. The scheme and its assets are held by
independent managers. The pension charge represents Contributions due from the society and amounted
to £15,060 (2023 - £23,980). Outstanding pension contributions at the balance sheet date amounted to
£3,442 (2023 - £5,931).
13.
TaxAtion
The charitys activities fall within the exemptions afforded by the provisions of the Income and
Corporation Taxes Act 1988, Accordingly, there is no taxation charge in these accounts.
Page 20

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Notes to the Financial Statements
for the year Ended 31 March 2024
. continued
14.
Tangible Fixed Assets
Fixtures,
Flttlngs
Property Equipment
Motor
Vehicles
Total
Costlrevaluatlon
At l April 2023
At 31 March 2024
520,000
199,347
19,650
738,997
Depreciation
At l April 2023
Charge for the year
20,800
10,400
197,553
1,645
10,234
4,913
228,587
16,958
At 31 Marc,h 2Q24
31,200
199,198
245,545
Net Book valiies
At 31 March 2024
488,800
149
4,503
493,452
At 31 March 2023
49C),200
1,794
9,416
510,410
The property was valued on 26 January 2022 at £520,000. The valuation was carried out by
independent valuer James O'Doherty & Co, Chartered Surveyors, Valuers and Property Consultants
on the basis of Market Value.
15.
Debtors
2024
2023
Trade Debtors
Training for Success 2017
Skills For Life and Work
ESF Lemis North West
ESF I£arning North West
ESF Seeds Programme
Other Debtors
Prq)a￿elltS
3,530
1,928
4,671
5.715
16,129
53,423
24,171
46,008
957
1,670
1,057
1,847
13,033
148,073
Page 21

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Notes to the Financlal Statements
for the year Ended 31 March 2024
. continued
16.
Credfitors: Amounts Falllng Due
Wlthln One Year
2024
2023
Trade creditors
Other taxes and social security costs
Deferred Income - Public Health Agency
Accruals
2,016
9,864
2,118
13,010
3,423
19.472
58,640
27,008
81,535
17.
Share Capttal
2024
2023
Allotte(L callèd up and fully pald equlty
¥ Urdinary sharc8 of £1 each
18. Analys18 of net assets between funds
Unrestrlcted Revaluation
funds
Reserve
Total
funds
Fund balances at 31 March 2024 as represented by.
Tangible fixed assets
Current assets
Current liabilities
4,652
636,425
(27,008)
488,800
493,452
636,425
(27,008)
614,OC)9
488,800
1,102,869
P8ge 22

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Notes to the Ffinancial Statements
for the year Ended 31 March 2024
. continued
19.
Unrestrlcted Funds
2024
2023
Opening gencral funds
Lncoming resources
Outgoing resources
1,024,471 1.154,468
310,773 1,202,831
(721,183) (1,332,828)
Closing general funds
614,061 1,024,471
Purposes of unrestrlcted funds
Unrestricted ftu]ds are funds that are expendable at the discretion of the trustees in furtherance of the
charitls objects,
20.
Restricted funds
2024
2023
Opening restricted Funds
tncoming resources
Outgoing resources
1,414
(1,414)
Closing restricted funds
Purposes of restrlcted funds
Restricted fvnds 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. The restricted funds in the year
were for the ￿ant received from the Public Health Agency for the Personal Success and Well Being
Project.
Page 23

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Iyotes to the Financial Statements
for the year Ended 31 March 2024
. continued
21.
Revaluation Reserve
2024
2023
Opening Revaluation Reserve
Gain on revaluation of f￿ed assets
Other Movements
499,200
509,600
(10 400) (1 (),400)
Closing Revaluation Reserve
488,800
499,200
Puryoses of Revaluatlon Reserves
Revaluation reserve records the value of asset revaluations and fair value movements on assets
recognised in other comprehensive income.
I'hc property was valued on 26 January 2022 at £52U,UUU by James O'Doherty & Co, Chartered
Surveyor8, Valuers L￿d ljropcrty L'onsultants on thc ba818 of Market Value.
22.
Contingent Liabilitles
Grants received could be repayablc in certain circumstances as set out in the letters of offer.
23.
Controlling Party
The trustees (Committee of Management) are considered to be the chariws controlling party.
24.
Gross Cash Flows
2024
2023
Cash flow from investing aetlvltles
Interest received
22,817
10,886
Cash flow from financing actlvltles
Reduction of ordinary share capital
(i)
Page 24

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED
Notes to the Financial Statements
for the year Ended 31 March 2024
. continued
25.
Analysls of Changes in cash and easb equfivalents
Opening
balance
Cash
flows
Closing
balance
Cash at bank and in hand
946,731
(323,339)
623,392
Cash And cash equivAlents
946,731
(323,339)
623,392
26.
Golng Concern
At the end of th¢ 2023 fmancial year thc funding from thc Europe,an Soc,ial Fiind ende,d, ThiR mark¢d
the end of the Lemis North West, Learning North West and Seeds Programmes, These programmes
made up 84 % of thc societ￿S income 2023. As a consequence the society had to undertake cost cutting
measures which resulted in a number of redundancies. Income during the year from Charitable activities
fell by 770/9, from £1,182,078 in 2023 to £276,589 in the year. During the ycar the society has been
cxplorillg additional sources of future funding.
At the balance sheet datc thc SOCIet￿S net assets were £1,102,869 which includes net current assets of
£609,417, accordingly the society is in a strong fmancial position, The management have prepared
cashflow projections covering the period to 30 June 2025 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 fmancial statements.
In the event of the society ceasing to operate within the next twelve months, a provision for further
redundancy costs of approximately £300,000 would be required and would decrease the reserves.
Page 25