Company registration number.. N1625060 Charity registration number.. 101001 Kilcooley Women's Centre (A company limited by guarantee) Financial Statements Financial Statements 31 M8rch 2024 'ADINERHT* 2411212024 COMPANIES HOUSE
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Kilcooley Women's Centre Contents Trustees Annual Report (incorporating the Directors. Report) 1tog Independent Auditors, Report 10lo13 Statement of Financial Activities 14 Statement of Financial Position 15 Statement of Cash Flows 16 Notes to the Financial Statements 17to26
Kilcooley Women's Centre Trustees Annual Report (incorporating the Directors. Report) Year ended 31 March 2024 Trustees Karen Connor, (Secretary) Karin Gilkinson Shona Lynn Kelly Margaret Weir, {Chairperson) Georgina Murray, (Treasurer) 101001 Charity Registration Number Company Registratlon Number N1625060 Registered Office Unit 65 North Down Development Organisation 2-4 Balloo Avenue Bangor Down BT19 7QT Auditor RBCA Ltd Linenhall Exchange 26 Linenhall Street Belfast BT2 8BG Peter Dornan & Co Solicitors 14 Hamilton Road Bangor BT20 4LE Solicltors: Bankers Flrsl Trust 11-15 Donegall Square North Belfast BT1 5GB Page 1
Kilcooley Women's Centre Trustees Annual Report (incorporating the Directors. Report) Year ended 31 March 2024 Structure, Governance & Constitution Kilcooley Women's Centre is governed by a Memorandum and Articles of Association and is a Company Limited by Guarantee with charitsble status. KWC is registered with the Nl Charity Commission. On appointment lo the Board of Directors, the Trustee receives induction training to ensure they are aware of the responsibility of their post. The roles and responsibilities of the Board of Directors are contained in the Board Induction Manual and detail the strategic level of Iheir decision making powers. Operational matters are delegated to the Chief Executive who reporls to the Board at meetings held at least 6 limes per year. There are Board Sub-Groups including Staffing and Finance lo promote good governance. Objectlves and activities The objectives of KWC are lo promote any charilable purpose for the b8nefit of women, children and families resident in the Ards North Down region lo improve the conditions of their lives. In particular to l. Advance educatlon and training through the delivery of programmes, courses, inltiatives, mentoring and guidance in order lo a) Enhance transferable skills and educational attainment bl Foster personal development, confidence and capacities c) Prepare participants for training and employment opportunities. ii. To provide, maintain and develop a community and resource centre for women. iii. To promote health and wellbeing amongst women by providing a confidential atmosphere where women can receive support, advice 8nd guidance and be signposted. iv. Promote peace and reconciliation, community engagement and cohesion, capacity for leadershlp and equallty and dlversily. v. Provide family support services to children of school age. vi. Enhance the development and educalion of young children and enable their mothers or carers to participate in educalion or training or other activities by offering appropriate childcaie or day-care facililies. vii. Provide facilities in the interests of social welfare for reGre8tion and other leisure lime occupations wilh the object of improving the conditions of life for local residents. viii. Advance community development by providing help. Support and facilities to community and voluntary groups based in Ards North Dov4n and the South Eastern region. ix. To provide, facilitate and organise co-operation and participation between community and voluntary organisations. public and statutory agencies based in the Ards North Down region. Page 2
Kilcooley Women's Centre Trustees Annual Report (incorporating thp Dirp.ctors' Report) Year ended 31 March 2024 Public Benefit Statement and Declaration The public beneflt for Kilcooley Women's Centre are for the purposes of benefiting women and children resident in the North Down and Ards area are:. {al {1) Enhanced educational attainment, transferable skills. capabilities and capacities of women and improved potential to secure employment. {ii) Improved physic81, inle118CtU81 and social development of pre- and school-age childr8n, earfy identificalion and support of children with special or additional needs. The beneficiaries are women and their children living in the area of benefil. These benefits can be evidenced through internal records kept of the progress and qualifications achieved by the participants, evaluations of the work and impact of the Centre, feedback from beneficiaries and inspections undertaken by social services. (b) A reduction in stress and isolation, general improvements in health and well-being and greater knowledge of heallh seNices and support available. The beneficiaries are women living in the area of benefit. These benefits can be evidenced through internal monitoring records and evaluations of the work and impact of the Centre. (c) Increased efficlency and effectiveness of the community and voluntary organisations that receive support, resulting in enhanced outcomes and service delivery and, consequently, an improved quality of life for those who benefit from the work of Ihese organisations. The beneficiaries are community and voluntary sector organisations. These benefits can be evidenced through internal monitoring records and feedback and evaluations. No harm or private benefit arises from these purposes No harm arises from these purposes. Incidental benefit may arise from transferable skills training offered to Board members to fulfil their duties. What the Organlsatlon Doe8 KWC provides a community resource for women, and advances education and training through the delivery of programmes. courses and initiatives, mentoring and guidance. It fosters personal development, confidence and capacities and lo prepare participants for training and employment opportunities. The Women's Centre promotes health and wellbeing for women, giving support, advice and guidance. A key activity is the promotion of peace, reconciliation. social enterprise and community cohesion, with a particular focus on relief of poverty, disadvantage and reducing health inequalities. and providing programmes which contribute lo ending violence against women and gids such as the Domestic Violence One Stop Shop. Through its family friendly programmes, the centre provides early intervention and family support, education of young children through childcare and daycare, provides facilities lo improve social welfare, leisure, communily developmenl, forging partnerships with stakeholder agencies. Support to tackle povety includas the delivery of the Bangor Social Supermarket, based al 1 Kilcooley Square, Bangor Page 3
Kilcooley Women's Centre Trustees Annual Report (incorporating the Directors. Report) Year ended 31 March 2024 Achievements & Porfomianco During the Yèar Educatlon & Training Department for Communities Throughout the year. the organisation has been support8d through Department for Communities Neighbourhood Renewal, KWC delivers the flagship education and training programme for Kilcooley, helping overcome educational underachievement and support long term unemployed or economically inactive reventer the labour market. This provides the core elements for employability of Maths, English and ICT and key transferable skills for employTnent. KWC is a registered accredilalion centre with the main UK awarding bodies including CCEA, AQA, OCR, OCN and TQUK. Employablllty KWC delivered a comprehensive employability programme which encompassed creatlon of dynamic Cvs for clients, job interwiew preparation, mock interviews, interview technique skills, assisting complellon of application forms and hosting Job Fairs for employers. The employment team work closely with local employers lo determine skills gap in the local job markets, and to optimise opportunities for 'meet the employer, evenls. KWC is working lo build relationships within the business community via ils links with Bangor Chamber of Commerce to provide placements, job lasler sessions and work experience with local business. Health & Wellbeing Working In partnership with the Public Health Agency and the South Eastern Healthcare Trust, KWC delivered a varied health and wellbeing and health promotion programrne and chairs the Kilcooley Health Improvement Partnership (HIP) which brings logelher cross sectoral organisations to tackle health inequalities in the area. The group works collectively lo support the most vulnerable with the cost of living crisis including provision through the Bangor Social Supermarket, managed by KWC, the Kilcooley Community Fridge and its associated wrap around support programmes, which include nutritional advice, physical activity, therapeutic horticullure and arts and crafts for positive mental health. A new community café 'Queen Bee, has been established as a warm space in the Kilcooley area, where local people can access a range of support including food poverty. health and wellbeing support, debt advice and a listening ear for Ihose experiencing rnental health challenges. Classes run on each day of the week and appeal to women from age 18 and up and include activities for all levels and abilities including those with dementia. This project was offered across the Ards North Down region including in the rural community where outreach activities provided those in rurally deprived and isolated locations to benefit from wellbeing boosting and health information events. Bangor Soclal Supermarket The Bangor Social Supermarket project is supporting over 40 families weekly with fresh and notorious food and householdlpersonal hygiene items. 11 also hosts the Period Poverty project and has extended to include a 'Baby Bank, as5isling with essential items for new families. Wrap around support and a Community Fridge provide essential items for those on a limiled budget or experiencing financial hardship. The project links with a number of volunteers - both collection and delivery of food, supporting clients on shopping days and referrals to wrap around support. Volunteers include team members from Bangor Jobs and Benefits Office who use the opportunity to link with vulnerable clients and offer additional support. Page 4
Kilcooley Women's Centre Trustees Annual Report (incorporating the Directors. Report) Year ended 31 March 2024 Early Years & Childcar• KWC has been providing on-site childcare, parenting programmes and early intervention initiatives for 30 years, to ensure caring responsibilities are not a barrier to engagement on programmes for women. Our Social Enterprise Daycare 'Ladybirds' offered registered full time daycare with South Eastern Healthcare Trust, provision is split into relevant age categories and rooms - Babies aged 0-2 years, Wobblers aged 2-3. pre-pre school aged 3-4 and pre-school aged 34. Refurbishment commenced on the unit 1 Kilcooley Square sile to ensure early years provision remains in the estate continues to be a challenge and we hope to offer sessional provision to fill gaps in provision in the area, where other services have ceased. Peace, Reconclllatlon & Good Relallons Kilcooley Women's Centre was appointed to the Ards North Down Peace Plus Partnership to support the development of the local action plan. Good Relations small programmes were delivered on behalf of Good Relations Unit in Council and the Executive Office in Stormont. These promoted positive relations at a local level beeen women in Ards North Down, reinforcing the links we have established across the Borough between women from all communities and backgrounds. Young Women & Girls The centre continues to provides an intensive support programme for young women aged 16-25 who are at risk of not reaching their lull potential. Support is given to help prepare participants for the workplace, through provision of tailored academic and vocational training, employability preparatlon and coaching and mentoring. Childcare is provided as many of the young women are also young parents. Mentoring, confidence building, goal setting and personal development plans provide a bespoke pathway for each participant who joins the programme. A Girls project has been developed in partnership with local schools, to contribute to the Ending Vlolence Against Women & Girls Strategy. Supportlng Older Peopl• Kilcooley Women's Centre recognises Ihe valuable contribulion older people provide to the local community and utilise their skills through our intergenerational programmes. Support for older women is given in the weekly 'Monday Club, which provides befriending, aclivilies, arts and crafts, travel club, support, advice and guidance whilsl helping to tackle social isolation and loneliness. The Older Women's Group enjoy the participalive literacy group the project has established. The programmes for older people links with rural programmes, and our engagement wilh County Down Rural Nehjork and our Peace and Reconciliation work, as many of the older participants are keen lo engage on good relations and dialogue aclivilies. Additionally we offer stoNelling classes to a local dementia nursing home where we support individuals living with memory problems to avail of equal opportunities thal benefit their wellbeing and provide them with an outlet. Aclivity such as therapeutic horticullure and other Graft aclivilies to benefit their wellbeing. The older peoples programmes are supported by a range of Small grants, levering in bespoke programmes responding lo identified need by older people In the area. Page 5
Kilcooley Women's Centre Trustees Annual Report (incorporating the Directors, Report) Year ended 31 March 2024 Outreach & Rural Programmes Following independent research commissioned by KWC and Rural Development Partnership, a need was established to support women, children and families across the rural community in Ards North Down. Currently. KWC provides an outreach programme in the villages across the rural communities, supporting older women and encouraging intergenerational engagement, good relations and peace building. Partnership work continues lo grow with County Down Rural NeOrk with whom we have delivered several parinership projects. This wll be extended with prograrnmes to support mental health for women, molhers and vulnerable groups. International Engagement and Exchange of Good Practices KWC continues lo maintain its links and collaboration with its European and International partners which area a legacy lo the Erasmus+ programmes both as a lead and a project partner. The organisation continues lo explore Turing Scheme opportunities, and lobbying the Dublin Government to include adult education in their extended Northern Ireland pragramme. Herilage Engagement Project Kilcooley Women's Centre has developed and delivered a dynamic heritage programme 'East side Lives, from the historic Old Market House siluated on Main Street Bangor. in collaboration with the National Lottery Herilage Fund, Archileclural Heritage Fund, and olher key heritage stakeholders, KWC has worked lo use heritage as a lool of regeneration on the high street. These initiatives aim to enhance heritage engagemenl among disadvantaged groups by providing accessible, skills-based learning opportunities. Programs include heritage training such as tour guiding, research skills development, and site visils lo heritage r8sloration projects across Northern Ireland. Additionally, the centr8 SUPPOrts the conservation of traditional crafts by f8cililating intergenerational workshops that pass down valuable heritage skills. Storytelling sessions capture and preserve untold local histories, focusing on the stories of the Old Market House and the lived experiences of community members whose heritage narratives might otherwise be lost. ThroLJgh these efforts, Kllcooley Women's Centre has created opportunities for a deeper understanding of local heritage while building community pride and creating pathways for personal development. Financial Review Restricted reseNes are used for the purposes intended as per the conditions of funding for each fund. KWC'S restricted reserves balance related to the liming differentia receipt of fundlng and expendlture. Their reserves should balance at zero when programmes are completed. Unreslricled reserves are used for items in keeping with the organisations charitable aims and objectives. At Ihe end of the current year, the charlty shows an unrestricled reserve of £53,490. Page 6
Kilcooley Women's Centre Trustees Annual Report (incorporating the Directors. Report) Year ended 31 March 2024 Future Strategy & Plans KWC aims to a) Deliver a dedicated single site Women's Centre for Ards North Down and strengthen the njral services for women, children and families in the Borough. b) Formally expand the services of KWC into a suregIOnal neOrk for supporting women. c) Develop the Ladybirds building through capital investment to provide additional support services for children and families in the Borough d) Enhance our heritage and cultural programmes to include social enterprise incubation. co working space, in central Bangor e) Maintain resillence within the organisatlon as we support clients impacted by the cost of living crisis. ensuring we are front and central in the recovery intervention programmes f) Lobby against the impact of Brexit and the inslability of the Nl Executive and its impact on women, children and families, particu18rly in relation to the losss of European Social Fund and the ending of the Shared Prosperity Fund, which supported Economically Inactive women re-enler the workplace g) Progress the digitalisalion project to improve access to KWC programmes via online platforms developing the bespoke platform Women's Virtual College to continu8 Vlrtualldigitallblended learning approaches and further digitalisalion of financial operations h) Develop soclal economy Inltlatlves lo help sustain the organlsation, maklng il less reliant on grant income. i) Enhance the site and offer new Earfy Years spaces at 1 Kilcooley Square l) Grow the partnership with Bangor Chamber of Commerce, to enhance our links with the business sector. k) Work with central Governmenl on Ihe legacy programmes (Shared Prosperity and Levelling Up) which replaced the EU grant programmes such as ESF and Erasmus+ to ensure continuity of service for beneficiaries and lessen the impact of Brexit. Explore new potential in the Turing Scheme, the new UK international exchange programme l) Enhance the rural engagement programme incorporating the Virtual College Nl hub concept. Funds Held on Behalf of Others KWC does not hold funds on behalf of others. Page 7
Kilcooley Women's Centre Trustees Annual Report (incorporating the Directors. Reportl Year ended 31 March 2024 Reserves Policy Kilcooley Women's Centre reserves policy aims to cover a minimum of three months costs in order to meet unexpected demands. a delay in receiving funding and to give breathing space should there be an unfavourable change lo government policy. Regular budgetary control allows us to monitor our financial well being on a monthly basis. Reserves are restricted to ensure we can also meet any redundancy liability for employed staff who complete fixed term Contracts. Statement of trustees. responslblllties The trustees (who are also the directors of Kilcooley Women's Centre for the purposes of company lawl are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounllng Practlce), Including FRS 102 "The Financial Reporting Standard applicable In the UK and Republic of Ireland" Company law requires the Iruslees to prepare financial slalements for each financial period. Under company law the trust88s must not approve the financial ststemenls unless Ihey are 5alisfled Ihat Ihey give a true and fair view of the state of affairs of the charitable company and of Ihe incoming resources and application of resources, including ils income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and apply them consistently., observe the methods and principles in the Charities SORP., make judgements and estimates that ar8 reasonable and prudent., stale whether applicable accounting standards, comprising FRS 102 have been followed, subjecl to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concern basis unless it is inappropriale to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records thal can dlsclose with reasonable accuracy al any time the financlal position of the charitab18 company and enable Ihem lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding Ihe assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees 8r8 responsible for the maintenance and integrity of the corporate and financial information included on the charitable companls website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Disclosure of information to audltor Each trustee has taken sleps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish thal Ihe charity's auditor is aware of that information. The trustees confirm that there is no relevant Information that they know of and of which they know the auditor is unaware. Page 8
Kilcooley Women's Centre Trustees Annual Report (incorporating the Directors. Report) Year ended 31 March 2024 Reappointmenl of auditor The auditors RBCA Ltd are deemed to be reappointed under section 487(2) of the Companies Act 2006. Small companies provlslon statement This report has been prepared in accordance with the small companies regime under the Companies Act 2006. The annual report was approved by the Irustees of the charity on behalf by= 20 Dec 2024 and signed on ils so Shona Lynn Kelly Trustee Margaret Weir Trustee Page 9
Kilcooley Women's Centre Independent Auditor's Report to the Members of Kilcooley Women's Centre Year ended 31 March 2024 Opinion We have audited the financial statements of Kilcooley Women's Centre (the 'charity'J for the year ended 31 March 2024, which cofflprise the Statement of Financial Activities. Statement of Financial Position, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significanl accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable ir) the UK and Republic of Ireland. and applicable law {United Kingdom Generally Accepted Accounting Practice). In our opinion the financlal statements.. give a true and fair view of the slale of the charity's affairs as at 31 March 2024 and of its incoming resources and application of resources, Including its income and expenditure, for the period then ended; have been properly prepared in accordan with United Kingdom Generally Accepled Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit In accordance with Intern81Sonal Standards on Auditing (UK) {ISAs {UK)} and applicable law. Our responsibilities under those slandards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audll of the financial stslements 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 audil 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 Ihal the trustees use of Ihe going concem basis of accounting in the preparatlon of the financial slatem8nts is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or condilions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve monlhs from when the original financial statements were authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of Ihis report. Other information The trustees are responsible for the other informalion. The other information comprises the informatlon included in the annual report, other than the financial stslements and our auditor's report thereon. Our opinion on the financial statements does not cover the olher information and, except to the extenl otherwise explicitly stated in our report, we do not express any form of assuranGe conclusion thereon. Page 10
Kilcooley Women's Centre Independent Auditor's Report to the Members of Kilcooley Women's Centre Year ended 31 March 2024 In connection with our audit of the financial statements, our responsibilily 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 lo 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 malerial misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinion on other matter prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audil.. the Information given in the for the financial period for whlch the financ181 statements are prepared is consistent wilh the financial ststements; and the has been prepared in accordance with applicable legal requirements. Matters on whlch we are requlred to report by exceptlon In the light of our knowledge and underslanding of the charity and ils environment oblained in the course of the audit, we have not identified malerial misstatements in the We have nothing lo report In respect of the following matters where the Companies Act 2006 requires us to report to you if. in our opinion: adequate accounting records have nol 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 accountlng records and returns: or certain disclosures of trustees remuneration specified by law are not made- or we have not received all the infomiation and explanations we require for our audit. Responsibilitie3 Qf trustees As explained more fully in the Statement of Irustees, responsibilities (set out on page 8}, the trustees are responsible for Ihe 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 lo fraud or error. In preparing the financial statements, Ihe trustees are responsible for assessing the charity's ability to continue as a going concem, disclosing, as applicable, matters related to going concern and using the going concern basis of accounling unless the Irustees either intend to liquidate the charity or to cease operations, or have no realistic alternative bul to do so. Auditor responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due lo fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, bul is nol 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 us8rs taken on the basis of these financial statements. Page 11
Kilcooley Women's Centre Independent Auditor's Report to the Members of Kilcooley Women's Centre Year ended 31 March 2024 The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We identified areas of laws and regulations Ihat could reasonably be expected to have a material effect on the financial statements from our sector experience through discussion with the Trustees and other management {as required by auditing standards). We had regard to laws and regulations in areas that directly affect Ihe financial statements including financial reporting {including related trade union legislation) and taxation legislation. We considered that extent of compliance with those laws and regulations as part of our procedures on the relaled financial statement items. With the exception of any known or possible non-compllance, and as required by auditing standards, our work in respect of these was limited to enquiry of the Trustees. We communicated applicable laws and regulations throughout our audit team and remained alert to any indications of non-compliance throughout the audit. We addressed the risk of fraud through management override of conlrols, by lesting the appropriateness of journal enlries, and other adjustments; assessing whether Ihe judgements made in making accounting esllmates are indicative of a potential basis. and evaluating the business rationale of any signilicant transactions that are unusual or outside the normal course of business. Our audit procedures were designed to respond to risks of material misstatement in the financial statemenls, recognising that th8 risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example. forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and Ihe further removed non-compliance with laws and regulations is from the events and transactlons reflected in the financial statements, the less likely we are to become aware of it. A further description of our responsibilities is available on the Financial Reporting Council's website at.. W4VW.frc.org.ukl8udilorsresponsibililies. This description forms part of our auditor's report. Page 12
Kilcooley Women's Centre Independent Auditor's Report to the Members of Kilcooley Women's Centre Year ended 31 March 2024 Use of our report This report is made solely to the charitsble company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charity's trustees those matters we are required to slate to them in an auditor's report and for no other purpose. To the fullest exlent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its truslees as a body. for our audit work, for this report, or for the opinions we have formed. S4.- Brian Stewart jsenior Statutory Auditor) For and on behalf of RBCA Ltd, Linenhall Exchange 26 Linenhall Streèt Belfast BT2 8BG 20 Dec 2024 Page 13
Kilcooley Women's Centre Statement of Financial Activities (Including Income and Expenditure Account ) Year ended 31 March 2024 Unrestricted funds General Restricted funds Total 2024 Total 2023 Note Income and Endowments from: Donations and lagacies Other trading activities 40,210 30,126 693.902 734,112 30,126 880,166 45.851 Total Income 70,336 693,902 764,238 926,017 Expenditure on: Charitable activities 67,214 733.265 800.479 988.495 Total Expenditure Net incomel(expenditure) Net movem8nt In funds 67,214 733,265 800,479 988,495 3.122 39,363 36,241 62,478 3,122 (39,3631 {36,2411 (62,4781 Reconciliation of funds Total funds brought foNard Total funds carried foNard 18 50,368 674,472 724,840 787,318 53.490 635,109 688,599 724,840 The statement of financial activities includes all gains and losses recognised in the year. The funds breakdown for 2023 is shown in note 18. The noles on pages 17 to 26 form an integral part of these financial statements. Page 14
Kllcooley Women's Centre Registration number: N1625060 Statement of Financial Position as at 31 March 2024 2024 2023 Note Fixed assets Intangible assets Tangible assets 12 13 3,744 796,849 12,120 530,959 543,079 800,593 Current asset8 Debtors Cash at bank and in hand 14 73,168 81,895 155,063 78,245 365,364 441,609 Credltors: Amounts falllng due wlthln one year 15 25,521 18,312 Net current assets 129,542 423,297 Total assets less current liabilities 930,135 966,376 Credllor8: Amounts falllng due after more than one yaar 16 241,536 241,536 Net assets 688,599 724,840 Funds of Ihe charity: Restricted funds Unrestricted funds 635.109 53,490 674,472 50,368 Total funds 18 688,599 724,840 These financial slalemenls have been prepared in accordance with the provlslons applicable to companies subject lo the small companies, regime. The financial stalements on pages 14 to 26 were approved by the Iruslees. and authorised for issue on 2Qnac.202A.. and signed on their behalf by.. so 44 Shona Lynn Kelly Twstee Margaret Weir Twstee The notes on pages 17 to 26 form an integral part of these financial statements. Page 15
Kilcooley Women's Centre Statement of Cash Flows for the year ended 31 March 2024 2024 2023 Note Cash flows from op8rallng actlvltles Net cash expenditure {36,241) (62,478) Adjustmenls to cash flows from non.cash Items Depreciation of tangible assets Amortisation of inlangible assets Interest payable and similar charges Accrued income 23,363 8,376 10,077 6,546 19,513 11,880 10,452 (75,381 (96,014) 12,121 Changes in: Trade and other debtors Trade and other creditors Interest Paid 14 15 3,077 663 10,077 17,909 435 10,452 Net cash flows from operating activities 5.784 (88,1221 Cash flows from investing actlvltles Acquisitions of tangible assets {289,253) (104,816) Cash flows from financing activities Proceeds from new bank borrowings during the period Nel decrease in cash and cash equivalents Cash and cash equivalents al beginning of year Cash and cash equivalents at end of year {283,469) 365,364 {192,945) 558.309 81,895 365,364 The notes on pages 17 to 26 form an integral part of these financial statements. Page 16
Kilcooley Women's Centre Notes to the Financial Statements for the year ended 31 March 2024 1 Charity status The charity is a publlc benefit entity and a private company limited by guarantee. registered in N.Ireland and a registered charity in Northern Ireland. The address of the registered office is Unit 65 North Down Development Organisation, 24 Balloo Avenue. Bangor, BT19 7QT, Northern Ireland. 2 Accountlng pollcles Statement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Slalement of Recommended Practice (applicable to charities preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency Of the entity. Going concern There are no material uncertainlies about the charitys ability to continue Judgemenls and key sources of estlmation uncertainty The preparation of the financial statements requires management to make judgements, esllmates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors. including expectations of future events that are believed to be reasonable under the circumstances Foreign Currencles Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the Iransaction. Monetary assets and liabilities denominated in foreign currencies are translaled at the exchange rate ruling at the reporling date, with any gains or losses being taken to the slalement of financial activities. Page 17
Kilcooley Women's Centre Notes to the Financial Statements for the year ended 31 March 2024 Fund accounting Unrestricted funds are available for Ltse at the discretion of the trustees to further any of Ihe charitsls purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commilment. RestriGted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub4lasses.' re51ricted income funds or endowment funds Incomlng resources All incoming resources are included in the statement of financial activitles when entitlement has passed to the Charity,. it is probab18 that th8 economic beneflts associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: • income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donaled goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case Ihe value is derived from the cost to the donor or the esllmaled resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unreslricted funds unless there is a contractual requirement for il lo be spent on a particular purpose and returned if unspent, in which case it may b8 regarded as restricted. Page 18
Kilcooley Women's Centre Notes to the Financial Statements for the year ended 31 March 2024 Resources expended Expenditure Is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates. expendilure on raising funds includes the costs of all fundraising activities, events, non- Gharitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by 2 charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charilable activities. other expendlture includes all expenditure that is neither related lo ralslng funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflectlng the use of the resource, Direct cosls attributable lo a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Intangible assels Inlangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the dale of revaluallon, as delermlned by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated Impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable. Ihe expected future economic benefits are probable and the cost or value can be measured reliably. Amortisatlon Amortisation is calculated so as to write off the cost of an asset. less its estimated residual value,'over the useful life of that asset 8s follows.. Asset Website amortisation Amortlsation method and rate 250/9 Straight line method If Ihere is an indication that there has been a significant change in amortisation rate, useful life or residual valu8 of an intangible asset, th8 amortisation is r8vised prospectively to r8flect the new estimates. Page 19
Kilcooley Women's Centre Notes to the Financlal Statements for the year ended 31 March 2024 Tangible fixed assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded al the fair value at the dale of revaluation less any subsequent accumulated depreciation and subseqvenl accumulated impairmenl losses. An increase in the carrying amount of an assel as a result of a revaluation, is recognised in olher recognised gains and losses, unless it reverses a charge for impairment Ihal has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrw'ng amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which il offsels any Previous ievaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreciation Oeprecialion is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows.. Equipment - Office Equipment Asset Building Office equlpmenls Depreciation method and rate 20/0 Straight line 200/9 reduclng balance method Impaimient of fixed assets A review for indicators of impairment is carried out at each reporting dale, wlth the recoverable 8mounl being estimated where such indicators exlsl. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of Impairmenl lesting, when it Is not possible lo estimate th8 recov8rable amount of an individual asset, an estimate is made of the recoverable amount of the cash- generating unit to which the asset belongs. The cash-generaling unil is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of a55ets. For irnpairment testing of goodwill, Ihe goodwill acquired in a business combination is. from the acouisilion dale, allocated lo each of the cash-generaling unils that are expecled lo benefil from the synergies of the combination, irrespective of whether other assets or liabililies of the charity are assigned lo those unils. Page 20
Kilcooley Women's Centre Notes to the Financial Statements for the year ended 31 March 2024 Defined conlribution plans Contributions to defined contribution plans are recognised as an expense In the period In which the related service is provided. Prepaid contributions are recognised as an asset to the extent thal the prepayment will lead to a reduction in future payments or a cash refund. When conlributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Restricted Income funds are those donated for use in a partlcular area or for specific purposes. the use of which is restricted to that area or purpose. 3 Llmlted by guarantee The company is limited by guar8nlee and has no aulhorised or issued share capital. The company has charitable status accepted by the Chariiy Commission for Northern Ireland under reference NIC101001 4 Donatlons and legacles Unrestricted funds General Restricted funds Total 2024 CRF Levelllng Up DFC Erasmus PHA DFA Rec fund Other Government Grants Donations 156,000 100,258 48,267 62,746 25,000 258,190 43,441 693,902 156,000 100,258 53,567 62,746 25,000 293,100 43,441 734,112 5,300 34,910 40,210 Unrestrlctad funds General Restricted funds Total 2023 CRF Levelling Up DFE DFC Erasmus PHA DFA Rec fund Other Government Grants Donations 159,894 148,748 103,881 213,950 51,013 26,055 97,323 45,969 159,894 148,748 103,881 213.950 51,013 26,055 130,656 45,969 33,333 33,333 846,833 880,166 Page 21
Kilcooley Women's Centre Notes to the Financial Statements for the year ended 31 March 2024 5 Income from other trading activities Unreslricted funds General Total funds Total 2023 Childcare 30.126 30,126 30.126 45.851 30,126 45,851 6 Expenditure on charitable activities Unrestrl¢ted funds General Restricted funds Total 2024 Charitable activities Support costs 67.214 714,338 18,927 781,552 18,927 67,214 733,265 800,479 Unrestrlcted funds General Restricted funds Tolal 2023 Charitable activities Support costs 78,362 892,323 17,810 970,685 17,810 988,495 78,362 910,133 Activity undertaken directly Actlvlty support costs 2024 2023 Charitable activity Governance costs 781.552 781.552 18,927 970,685 17,810 18,927 781,552 18,927 800,479 988.495 7 Net (expenditurellincome Net (expenditure)lincome is stated after charging l{crediting): 2024 2023 Amortisation of intangible assets Depreciation of tangible fixed assets 8,376 23,363 31,739 11,880 19,513 31,393 Page 22
Kilcooley Women's Centre Notes to the Financial Statements for the ypar ended 31 March 2024 9 Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows: 2024 2023 Wages and salaries Employer contribution to pension plans 415,618 12,858 428,476 431,779 20,040 451.819 The average head count of employ8es during the year was 14 {2023'. 20) No employee received emoluments of more than £60,000 during the period. <2023.. Nil) 10 Trustees remuneratlon and exponses No trustees have received remuneration in the year. 11 Audltors, remuneratlon 2,024 2,023 Fees payable for the audit of the financial statements 3,840 3,600 12 Intangible fixed assets Other intanglble asset Cost At Aprll 2023 47,520 At 31 March 2024 47,520 Amortisation At 1 April 2023 Charge for the year At 31 March 2024 35,400 8.376 43,776 Net book value At 31 March 2024 3,744 At 31 March 2023 12,120 Page 23
Kilcooley Women's Centre Notes to the Financial Statements for the year ended 31 March 2024 13 Tanglble flxed assets Land and buildings Furnlture and equipment Total Cost At 1 April 2023 Additions 452,908 270.710 189,749 18,543 642,657 289,253 At 31 March 2024 723,618 208,292 931,910 Depreclatlon At 1 April 2023 Charge for the year 111.698 19,319 111.698 23,363 4,044 At 31 March 2024 4,044 131,017 135,061 Net book value At 31 March 2024 719,574 77,275 796,849 At 31 March 2023 452,908 78,051 530,959 14 Debtors 2024 2023 Trade debtors Other debtors 60.513 12,655 63.107 13,138 73,168 76.245 15 Croditors: amounts falllng due wlthln one year 2024 2023 Bank loans and overdrafts Other taxation and social security Accruals and deferred income 10,000 4,490 11,031 10,000 3,826 4.486 25,521 18,312 16 Credllors: amounts falllng due after one year 2024 2023 Bank loans 241,536 241,536 The loan included in notes 16 and 1.7 above has been secured from the Archit8Ctural Herilage Fund, by way of a charge over land and premises at 77 Main street, Bangor Page 24
Kilcooley Women's Centre Notes to the Financial Statements for the year ended 31 March 2024 17 Pension and other schemes Defined contribulion pension scheme The amount recogniseé in income or expenditure as an expense in relalion to defined contribution plan was 12,858 (2023: 20.040) 18 Funds Balance at 1 April 2023 Incoming resources Resources expended Balance at 31 March 2024 Unrestricted funds General 50,368 70,336 (67,214) 733,265 53,490 Restricted funds 674,472 693.902 635,109 Total funds 724,840 764,238 800.479 688,599 Balance at 1 April 2022 Incoming resources Resources expended Balance at 31 March 2023 Unrestrlcted funds General 49,546 79.184 (78,362) 910,133 50,368 Restricted funds 737.772 846,833 674,472 Total funds 787,318 926,017 988,495 724.840 Page 25
Kilcooley Women's Centre Notes to the Financial Statements for the year ended 31 March 2024 19 Analysls of nel assets between funds Unrestrlcted funds Other Total funds at 31 March 2024 Restricted funds Intangible fixed assets Tangible fixed assets Current assets Current liabilities Creditors over 1 year Total net assets 3,744 796,849 97,529 (25,521) 241,536 3,744 796,849 155,063 (25,5211 241,536 57,534 57,534 631,065 688,599 Unrastricted funds Designated Total funds at 31 March 2023 Restricted funds Intangible fixed assets Tangible fixed assets Current assels Current liabilities Credllors over 1 year 12,120 530,959 391,241 (18,312) 241,536 12,120 530,959 441,609 (18,3121 241,536 50,368 Total net assets 50,368 674,472 724,840 20 Analysls of net funds Al 1 Aprll 2023 At 31 March 2024 Net cash flow Cash al bank and in hand Debl due within one year Debt due after more than one year 365,364 {10,000) 241,543) 1283,4691 81,895 (10,0001 (241,543 169,648 Nel debt 283,469 Page 26