2025-03-31-accounts

f

Charity Number : NIC100321 Registration Number : IP 202

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED

Trustees’ Report and Financial Statements

for the year Ended 31 March 2025

}

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED

Contents

	Page
Legal and Administrative Information	I
Report to Trustees	2-5
Independent Auditors’ Report	6-9
Statement ofFinancial Activities	10
Balance Sheet	11
Statement ofCash Flows	12
NotestotheFinancialStatements	13-25

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED

Legal and Administrative Information

Committee ofManagement/Trustees	Declan Doherty
	Anne Marie Donnelly
	Geraldine Mellon
	Eleanor Conaghan
	John Peto
	Deirdre O'Connor
	DannyFriel
	Catherine Barr
Secretary	JohnPeto
SocietyNumber	IP 202
CharityNumber	NIC100321
Registered Office	6 Society Street
	Derry
	BT48 6PJ
Auditors	McDaidMcCulloughMoore
	Chartered Accountants and
	Statutory Auditor
	28/32 Clarendon Street
	Derry
	BT48 7HD
	N. Ireland
Business Address	6 Society Street
	Derry
	BT48 6PJ
Bankers	Allied IrishBank
	Meadowbank
	Strand Road
	Derry
	BT48 7TN
Solicitors	Babington& Croasdaile
	Solicitors
	9 LimavadyRoad
	Derry

Page 1

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED

Report of the trustees

for the year ended 31 March 2025

The Trustees (in their capacity as Trustees and Committee of Management) present their report and the financial statements for the year ended 31 March 2025. The trustees who served during the year and up to the date of this report are set out on page 1. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102)(effective 1 January 2019) in preparing the annual report and financial statements of the charity.

Structure, governance and management

Governing document

The organisation is a charitable limited society registered under the Industrial and Provident Societies Act (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 NIC100321. The society's governing document is its Rules dated 30 March 1978.

Organisational structure

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 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 trustees

New trustees 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 (Committee of Management members),

ii) The main documents which set out the operation framework for the society including the Rules of Derry Youth and Community Workshop Limited;

iii) Resourcing and the current financial position as set out in the latest published accounts;

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. Significant external risks relating 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 2025

Objectives and activities (and how they deliver 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

Derry Youth and Community Workshop Limited strives to ensure that they provide public benefit. Public benefit is at the heart of what it means to be 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 and projects such as Training for Success, Skills For Life and Work, OCN Skills For Life and Work Wellness Programme, PHA Personal Success and Well-Being Project, The National Lottery Community Fund "Empowering Young People 3" also known as the Sky Project and provided training services to other chaitable organisations.

Achievements and performance

The results for the year are set out on pages 10 and 11. 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, PHA Personal Success and Well-Being Project and The National Lottery Community Fund "Empowering Young People 3" also know as the Sky Project. During the year the society also provided training services to other charitable organisations.

Financial review

Income for the year to 31 March 2025 increased from £312,187 in 2024 to £376,155. Net deficit in the year increased to £489,850 (2024 - £410,410). The financial statements reflect the transition occurring in income streams during the year.

Principalfunding sources

The principal funding sources of the charity during the year for the provision of its programmes are Department for the Economy (DFE), OCN Northern Ireland, Public Health Agency and The National Lottery Community Fund.

Investment policy

The charity operates a prudent investment policy. Investments are in the form of short term low risk bank deposits.

Reserves policy

The trustees' (Committee of Management's) business plan ensures adequate reserves exist to meet the ongoing requirements of the society. The general reserve, comprising reserves of £124,211 (2024 - £614,061) at the balance sheet date, is available to be applied at the discretion of the trustees (Committee of Management) to any of the society's charitable activities.

Page 3

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED

Report of the trustees

for the year ended 31 March 2025

Restricted reserves are funds secured for specific expenditure of a capital nature. 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.

Plans for future periods

The trustees continue to assess the performance of the society and their future aims for Derry Youth and

Community Workshop Limited are:

• to continue the activities outlined above;

• maintain financial viability;

• secure additional funding for new projects;

• to co-operate with other bodies to develop programmes.

The society has had to undertake cost cutting measures during the year which resulted in a number of redundancies.This was at a cost of £220,964 in current year. Long standing employees have been re-employed on reduced hour contracts therefore the employment costs will be substantially reduced in the future.

During the year the society secured funding with The National Lottery Community Fund in which it will receive £497,969. The society has been exploring additional sources of future funding.

The management have prepared cashflow projections covering the period to 30 June 2026 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.

Statement of disclosure of information to auditors

We, the trustees of the charitable society, who held office at the date of approval of these financial statements, each confirm as far as we are aware, that:

• there is no relevant audit information of which the charitable society's auditors are unaware; and

• we have taken all steps that we ought to have taken as trustees in order to make ourselves aware of any relevant audit information and to establish that the charity's auditors are aware of that information.

Page 4

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED

Report of the trustees

for the year ended 31 March 2025

Statement of Trustees' Responsibilities

The trustees (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 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 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 financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP 2019 (FRS 102);

• make judgements and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable society will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable society and enable them to ensure that the financial statements comply with the Industrial & Provident Societies (NI) Act 1969 as amended. They are also responsible for safeguarding the assets of the charitable society and hence for taking reasonable 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 General Meeting.

==> picture [205 x 54] intentionally omitted <==

----- Start of picture text -----
en alf of the trustees
Va f Geraldine Mellon
----- End of picture text -----

==> picture [61 x 54] intentionally omitted <==

----- Start of picture text -----
VMy
John Peto
----- End of picture text -----

Dated: 2 July 2025

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 2025 which comprise of the statement of financial activities, the Balance Sheet, the Statement of Cash Flows and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the charitable society's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure 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 Industrial and Provident Societies Acts (NI) 1969 and 1976.

Basis for opinion

We conducted our audit in accordance with International 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 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.

Conclusions 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.

Based on the work performed, 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 continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form 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 information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. 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 the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the society and its environment obtained in the course of the audit, we have not identified material misstatements 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 received 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 information 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 financial statements and for being satisfied that they give a true and fair view, and for such internal 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 society'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 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 financial 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 are 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 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 financial statements.

Page 7

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED

Irregularities, 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 effect on the financial statements. We also considered laws and regulations that have a direct impact on the preparation of the financial statements such as the Industrial & Provident Societies (NI) Act 1969 and 1976, Charities Act (NI) 2008 and payroll tax. Audit procedures included the following:

• Inspecting correspondence with regulators and 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 rationale 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 misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from 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 regulations.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

• 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 error, 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 purpose of expressing an opinion on the effectiveness of the society's internal control.
• • Evaluate the appropriateness 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

• si Conclude on the appropriateness of the trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to Cvents or conditions that may cast significant doubt on the society's ability to continue as a going COncgern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadeq wate, 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 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 findings, including significant deficiencies in internal control that we identify 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 Industrial and Provident Societies Act (NI) 1969 and 1976. Our audit work has been undertaken so that we might state to the society's members those 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.

Gera¥i Murray (Senior Statyfory Auditor) For and on behalf of McDaid McCullough Moore

Chartered Accountants and

Statutory Auditor 28/32 Clarendon Street

Derry BT48 7HD

N. Ireland

2 July 2025

Page 9

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED

Statement of Financial Activities (Including the Income and Expenditure Account)

For the year ended 31 March 2025

		Unrestricted Restricted	Unrestricted Restricted	Endowment		2025	2024
		funds	funds	funds		Total	Total
	Notes	£	£	£		£	£
Income and endowments from:
Othertrading activities	2	30,507	=		-	30,507	12,781
Investments	3	8,095	-		.	8,095	22,817
Charitable activities	4	286,820	50,733		-	337,553	276,589
Total income and endowments		325,422	50,733		-	376,155	312,187
Expenditure on:
Charitable activities	5	815,272	50,733			866,005	722,597
Total expenditure		815,272	50,733		-	866,005	722,597
NetIncome / (expenditure)		(489,850)	-		-	(489,850)	(410,410)
Netmovement in funds		(489,850)	-		-	(489,850)	(410,410)
Reconciliation offunds:
Total funds brought forward		614,061	-		-	614,061	1,024,471
Totalfundscarriedforward		124,211	-		~	424,211	614,061

All income and expenditure derive from continuing activities,

The Notes on pages 13 to 25 form an integral part of these Financial Statements.

Page 10

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED

Registration Number IP 202

==> picture [488 x 401] intentionally omitted <==

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Balance|Sheet| |as|at|31|March|2025| |2025|2024| |Notes|£|£|£|£| |Fixed|Assets| |Tangible|Assets|14|478,464|493,452| |Current|Assets| |Debtors|15|64,351|13,033| |Cash|at Bank|and|in Hand|124,450|623,392| |188,801|636,425| |Creditors:|Amounts|falling| |due within one year|16|(64,646)|(27,008)| |Net|Current Assets|124,155|609,417| |Total|Assets|Less|Current| |Liabilities|602,619|1,102,869| |Net Assets|602,619|1,102,869| |Charity|Funds| |Called Up|Share|Capital|17|8|8| |Revaluation|Reserve|21|478,400|488,800| |Unrestricted|funds|19|124,211|614,061| |Total charity funds|602,619|1,102,869|

----- End of picture text -----

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 statements were approved and authorised for issue by the Trustees on 2 July 2025 and signed on its behalf by

==> picture [381 x 26] intentionally omitted <==

----- Start of picture text -----
Declan Doherty r Geraldine Mellon John Peto
Trustee Trustee Secretary
----- End of picture text -----

The Notes on pages 13 to 25 form an integral part of these Financial Statements.

Page 11

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED

	Statement ofCash Flows	Statement ofCash Flows
for theyearEnded 31 March 2025
			2025	2024
		Notes	£	£
Reconciliation ofNetExpenditure to Net
Cash outflow from Operating Activities
NetIncome /(Expenditure)			(489,850)	(410,410)
Bank InterestReceived			(8,095)	(22,817)
Depreciation (Increase) /Decrease inDebtors			4,588 (51,318)	6,558 135,040
(Decrease) in Creditors			(6,737)	(54,527)
NetCashoutflow from Operating Activities			(551,412)	(346,156)
CASHFLOW STATEMENT				,
NetCash outflow from Operating Activities			(551,412)	(346,156)
Cash flowfrom investing activities		24	8,095	22,817
			(543,317)	(323,339)
Decreasein cashand cash equivalents in theyear			(543,317)	(323,339)
Reconciliation ofCash equivalents
Decrease in cash and cash equivalents in theyear			(543,317)	(323,339)
Cashand cash Equivalents at 1 April2024			623,392	946,731
Cashandcashequivalentsat31March2025	2025	25	80,075	623,392

Page 12

Notes to the Financial Statements for the year Ended 31 March 2025

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED

1. Accounting Policies

2. 1.1. Accounting 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 (NI) 1969 and 1976. The address of the registered office is 6 Society Street, Derry, BT48 6PJ.

The financial statements have been prepared under the Historical Cost convention modified to include the revaluation of certain fixed assets and in accordance with 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)',(Charities SORP(FRS 102))(effective 1 January 2019), the Charities Act NI 2008 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 statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

• 1.2. Fund Accounting

The funds of a charitable company can consist of Restricted Funds and Unrestricted Funds.

Unrestricted 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 purposes.

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. The cost of raising and administering such funds are charged against the specific fund.

Endowment funds represent those assets which must be held permanently 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 arising on the investments form 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 2025

imnonsn 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 performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. Incoming resources include grant income from various training programmes and projects, income from sales of services, insurance claim receivable and investment income.

For donations to be recognised the charity will have been notified of the amounts and the settlement 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 performance 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 scheme with reasonable 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 for the year Ended 31 March 2025

wissteessivereees CONTINUE

• 1.4. Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. 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.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued 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 relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the 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 costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure 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 consistent with use of the resources.

Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

1.5. Tangible Fixed 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 life, as follows:

Property - Straight Line over fifty Years Fixtures, Fittings and Equipment - 12.5%, 20% & 25% Straight Line Motor Vehicles - 20% Straight Line

• 1.6. Debtors and creditors receivable / 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 impairment 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 trustees 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 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

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED

Notes to the Financial Statements for the year Ended 31 March 2025

buarsieees. CONtiNUed

2	Income from other trading Activities
		Unrestricted	2025	2024
		funds	Total	Total
		£	£	£
	Sales ofServices	15,521	15,521	12,781
	Insurance Claims Receivable	14,986	14,986	-
		30,507	30,507	12,781
3,	Income from Investments
		Unrestricted	2025	2024
		funds	Total	Total
		£	£	£
	BankDepositInterest	8,095	8,095	22,817
4.	Income from charitable activities
		Unrestricted	Restricted	2025	2024
		funds	funds	Total	Total
		£	£	£	£
	Training for Success	3,433	-	3,433	25,969
	SkillsForLife andWork	280,387	-	280,387	246,206
	OCN Skills forLife andWorkWellnessProgramme	3,000	-	3,000	3,000
	PHAPersonal Success andWell-Being	-	2,118	2,118	1,414
	TheNationalLottery CommunityFund -EmpoweringYoungPeople 3 -		48,615	48,615	-
		286,820	$0,733	337,553	276,589

Page 16

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED

Notes to the Financial Statements

for the year Ended 31 March 2025

sestiisereeeeeee CONTINUE

5. Expenditure on Charitable Activities

Expenditure on Charitable Activities
	Unrestricted	Restricted	2025	2024
	funds	funds	Total	Total
	£	£	£	£
Direct staffcosts	252,241	17,987	270,228	298,567
RedundancyCosts	56,890	:	56,890	13,073
Materials	3,596	=	3,596	7,675
Allowances to trainees	56,236	-	56,236	52,821
Examination& RegistrationFees	4,552	2,118	6,670	12,336
Trainee Bonuses	3,860	i	3,860	4,965
Trainee TravelExpenses	8,713	-	8,713	9,702
EmpoweringYoungPeople 3 Costs	-	7,008	7,008	-
Governance Costs (note 6)	11,871	1,800	13,671	9,770
Administration Costs (note 7)	417,313	21,820	439,133	313,688
	815,272	50,733	866,005	722,597
Expenditure on Governance Costs
	Unrestricted Restricted		2025	2024
	funds	funds	Total	Total
	£	£	£	£
Auditors' Remuneration - audit ofthe financial statements	7,200	1,800	9,000	9,000
Legal and Professional Fees	4,671	-	4,671	770
	11,871	1.800	13,671	9,770

6. Expenditure on Governance Costs

Page 17

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED

Notes to the Financial Statements

for the year Ended 31 March 2025

juseteteseeeeeeeee CONTINUE

7. Administration Costs

==> picture [512 x 574] intentionally omitted <==

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Unrestricted|Restricted|2025|2024| |funds|funds|Total|Total| |£|£|£|£| |Administration & Management|Staff Costs|162,911|17,990|180,901|223,982| |Redundancy|Costs|164,074|-|164,074|-| |Staff Training|165|-|165|402| |Rent Payable|4,186|-|4,186|5,160| |Insurance|12,081|1,019|13,100|14,484| |Light & Heat|14,581|1,110|15,691|14,292| |Cleaning|5,293|7|5,293|5,242| |Repairs & Maintenance|22,180|482|22,662|12,828| |Safety Equipment &|Clothing|3,518|256|3,774|4,287| |Printing,|Postage &|Stationery|9,824|-|9,824|8,386| |Advertising|1,642|.|1,642|4,137| |Telephone|7,543|963|8,506|9,548| |Motor Expenses|1,444|-|1,444|888| |Travelling & Entertainment|1,210|-|1,210|1,420| |Bank charges|1,227|-|1,227|1,352| |General Expenses|846|-|846|722| |Depreciation|14,988|-|14.988|16,958| |Amortised|from|Revaluation|Reserve|(10,400)|-|(10,400)|(10,400)| |417,313|21,820|439,133|313,688| |8.|Net income/(Expenditure)|for the year|2025|2024| |£|£| |Net|income|/|(expenditure)|is|stated|after|charging:| |Depreciation|of Tangible Assets|A588|6,558| |Auditors'|Remuneration|9,000|9,000| |9,|Auditors'|remuneration| |2025|2024| |£|£| |Auditors'|remuneration|-|audit of the|financial|statements|9,000|9,000|

----- End of picture text -----

Page 18

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED

Notes to the Financial Statements for the year Ended 31 March 2025

Sitiiuieicnvern CONtINUEd

10.	Employment Costs	2025	2024
		£	£
	Wages and Salaries	406,938	468,898
	Redundancy Costs	220,964	13,073
	Social Security Costs	31,159	38,591
	OtherPension Costs	13,032	15,060
		672,093	535,622

Number of Employees

The average monthly numbers of employees during the year, calculated on the basis of full time equivalents, was as follows:

equivalents, was as follows:
	2025	2024
	Number	Number
Direct/Programme related staff	10	12
Administrative staff	4	4
Management staff/ChiefExecutive
	15	17

The number of employees whose total employee benefits (excluding employer pension costs) amounted to over £60,000 in the year were as follows:

			2025	2024
			Number	Number
£70,001	-£80,000	£80,000	1	1
£80,001	-	£90,000	0	0
£90,001	-	£100,000	1	0

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 year Ended 31 March 2025

imma Continued

11. Chief Executive and Trustees' emoluments

==> picture [457 x 153] intentionally omitted <==

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |2025|2024| |£|£| |Remuneration|and|Other|Benefits|107,135|138,804| |Redundancy|Costs|115,414|.| |Social|Security|Costs|10,430|14,615| |232,979|153,419| |Number|Number| |Number|of Trustees|to whom|retirement|benefits| |are|accruing under|a money|purchase|scheme|2|3|

----- End of picture text -----

12. Pension Costs

The society operates a defined 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 £13,032 (2024 - £15,060). Outstanding pension contributions at the balance sheet date amounted to £2,673 (2024 - £3,442),

13. Taxation

The charity's 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 2025

jivecvoissuvesnaen CONtINUEd

14. Tangible Fixed Assets

Tangible Fixed Assets
		Fixtures,	Motor	Total
		Fittings	Vehicles
	Property	Equipment
	£	£	£	£
Cost/revaluation
At 1 April 2024
At 31 March 2025	520,000	199,347	19,650	738,997
Depreciation
At 1 April2024	31,200	199,198	15,147	245,545
Charge forthe year	10,400	85	4,503	14,988
At 31 March 2025	41,600	199,283	19,650	260,533
NetBookvalues
At31 March2025	478,400	64	.	478,464
At31March2024	488.800	149	4,503	493,452

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

Debtors
	2025	2024
	£	£
Trade Debtors	-	3,530
Training for Success 2017	-	1,928
Skills ForLife andWork	45,635	4,671
OtherDebtors	15,883	1,057
Prepayments	2,833	1,847
	64,351	13,033

Page 21

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED

Notes to the Financial Statements

for the year Ended 31 March 2025

susseueraeeneee CONtiNUed

16.	Creditors: Amounts FallingDue			2025	2024
	Within OneYear			£	£
	Bank overdraft			44,375	-
	Trade creditors			1,279	2,016
	Othertaxes and social security costs			5,966	9,864
	Deferred Income			-	2,118
	Accruals			13,026	13,010
				64,646	27,008
17.	Share Capital			2025	2024
				£	£
	Allotted, called up and fully paid equity
	8 Ordinary shares of£1 each			8	8
18.	Analysis ofnet assets between funds
		Unrestricted	Revaluation		Total
		funds		Reserve	funds
		£		£	£
	Fund balances at 31 March 2025 as represented by:
	Tangible fixed assets	64		478,400	478,464
	Current assets	188,801		-	188,801
	Current liabilities	(64,646)		-	(64,646)
		124,219		478,400	602,619

Page 22

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED

Notes to the Financial Statements for the year Ended 31 March 2025

dstuseereee. CONtINUEd

==> picture [493 x 116] intentionally omitted <==

----- Start of picture text -----
|||||| |---|---|---|---|---| |19.|Unrestricted|Funds| |2025|2024| |£|£| |Opening|general|funds|614,061|1,024,471| |Incoming|resources|325,422|310,773| |Outgoing|resources|(815,272)|(721,183)| |Closing general funds|124,211|6 14,061|

----- End of picture text -----

Purposes of unrestricted funds

Unrestricted funds are funds that are expendable at the discretion of the trustees in furtherance of the charity's objects.

==> picture [491 x 115] intentionally omitted <==

----- Start of picture text -----
|||||| |---|---|---|---|---| |20.|Restricted|funds| |2025|2024| |£|£| |Opening|restricted Funds|-|-| |Incoming resources|50,733|1,414| |Outgoing|resources|(50,733)|1,414| |Closing|restricted|funds|-|-|

----- End of picture text -----

Purposes of restricted 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. The restricted funds in the year related to funding received from The National Lottery Community Fund for the project Empowering Young People 3' and for the grant received from the Public Health Agency for the Personal Success and Well Being Project.

Page 23

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED

Notes to the Financial Statements

for the year Ended 31 March 2025

saveererereerese CONtiNUed

21. Revaluation Reserve

Revaluation Reserve
	2025	2024
	£	£
Opening RevaluationReserve	488,800	499,200
Gain on revaluation offixed assets	-	=
Other Movements	(10,400)	(10,400)
ClosingRevaluationReserve	478,400	488,800

Purposes of Revaluation Reserves

Revaluation reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income.

The property was valued on 26 January 2022 at £520,000 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. Controlling Party

The trustees (Committee of Management) are considered to be the charity's controlling party.

24. Gross Cash Flows

	2025	2024
	£	£
Cash flow from investing activities
Interestreceived	8,095	22,817

Page 24

DERRY YOUTH AND COMMUNITY WORKSHOP LIMITED

Notes to the Financial Statements

for the year Ended 31 March 2025

Meaeeererseeeeeees CONTINUE

25. Analysis of Changes in cash and cash equivalents

==> picture [459 x 138] intentionally omitted <==

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |Opening|Cash|Closing| |balance|flows|balance| |£|£|£| |Cash|at bank|and|in hand|623,392|(498,942)|124,450| |Overdrafts|-|(44,375)|(44,375)| |623,392|(543,317)|80,075| |Cash and|cash|equivalents|623,392|(543,317)|80,075|

----- End of picture text -----

26. Going Concern

The society has had to undertake cost cutting measures during the year which resulted in a number of redundancies.This was at a cost of £220,964 in current year. Long standing employees have been re-employed on reduced hour contracts therefore the employment costs will be substantially reduced in the future.

During the year the society secured funding with The National Lottery Community Fund in which it will receive £497,969. The society has been exploring additional sources of future funding.

The management have prepared cashflow projections covering the period to 30 June 2026 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 25