FIRST STEPS WOIIIEN'S CENTRE (A company limited by guarantee) Report and Financial Statements Year ending 31 March 2023 Company number: N1066869 Charity Commission Number: NIC 101202 Charity number: XR27582
FIRST STEPS WOMEN'S CENTRE Contents Mission Statement Report from Chairperson Report from Chief Executive Trustees, report 8-14 Auditors, report to the trustees 15-18 Statement of Financial Activities 19 Statement of Financial Position 20 Statement of Cash Flows 21 Notes to the fmancial statements 22-32
FIRST STEPS WOMEN'S CENTRE MISSION STATEMENT Supporting iyomen's professional and personal development through education and training.
FIRST STEPS WOMEN'S CENTRE This has been a year of upheaval, change and moving forward. In our 2022 report our previous Chairperson, LA)uise Mallon quoted Gandhi. In 2023 this is still a very poignant quote: "The future depends on what we do in the present" First Steps Women's Centre was bracing itself for the end of the European Social Fund (ESF) funding. Just like 63 other organisations, the Centre was facing at worst, total closure and at best, the deckmation of staff, programmes and services. There were many unknowns and this added to the stress. There were rumours of a possible extension to the programme giving some hope. However, wÉth no Executive in place any hope evaporated by the time January- February 2023 came around. Reverting back to Gandhi's quote, I can safely say that the Board had prepared for the loss of ESF funding. The amount of funding lost was over £275,000 equating to approximately 60 % of the total fundillg for the previous year. FSWC could not survive if other fiLnding was not identified and put into place. Yet that is what the Senior Management Team managed to do. They had prepared for the fvture by seeking fLmding from a number of sources. These included the Big Lottery and the UK Shared Prosperity Fund. In December 2022, FSWC received great news from The Lottery. FSWC had been successful in a five-year bid to fund a Wellbeing Programme. This was brilliant news given that things were beginning to look a lot gloomier by th¢ day. There was a realisation that this funding on its own would not be able to save the Centre and staff. FSWC was still edging closer and closer to the precipice. FSWC had also been working in the background since December 2021 to identify partners for an additional programme- The UK Shared Prosperity Fund. This programme was something that could help cover the loss of the ESF funding. The aim and objectives were similar. FSWC was approached in December 2022 by SW FE College to be part of a consortium bid for the funding. This bid was successful. The funding was announced on Friday 31" March 2023. Loss of 62 years, Experience Sadly, on Thursday 30 March, FSWC had made five staff redundant due to the end of the ESF progratnme. Unfortunately the news of funding from the Shared Prosperity Fund was too late for these staff. Like so many community and voluntary organisations across the province the end of ESF was felt deeply and personally at First Steps Women's Centre. I want to pay a huge complement to the staff who left, for their professioiialism, their inteity, their dignity and their caring for all things at First Steps Women's Centre. These staff continued to work right up to the very end never once holding back. They gave their all. The Board had prepared for the loss of staff from October and the issue of the end of ESF funding had always been a standing item on Board Agenda's for at least the previous 12 months. My role was to lead the Board and through the rcdundancy process and to ensure that all processes and procedures were followed correctly. In my opinion FSWC followed the proper and laid down procedures in a caring, friendly and sometimes emotional manner.
FIRST STEPS WOMEN?S CENTRE The Future As I reflect on the past year it never ceases to amaze me what First Steps Women's Centre continues to do. The worK the programmes and the sheer number of nationalities attending the Centre. You can see for yourself in this report the numbers of women attending, the types of progranLmes and also the cooperation between various other organisations. I want to thank personally all our staff, our volunteers, our tutors, our supporters and our fvnders for making this Centre the place that it is. Lastly, I want to recognise th¢ journey of the 450+ women and children thal came through the doors during the past 12 months. I believe that the future for First Steps Women's Centre is secure and safe because of what the Board and the organisation has done in the past and present. Ghandis words will thive the Board and FSWC to keep moving forward, to keep planning and to follow and maintain a professional and caring standard of governance. Maria McGilly, Chalrperson
FIRST STEPS WOMEN'S CENTRE Chief Executive's Report April 2022 - March 2023 This has been the best of years and also the worst of years! First Steps Women's Centre (FSWC) lost five staff in March 2023 with a culminated 62 years of experience. These staff had worked so hard, so diligently and professionally givillg their all. They were made redundant as a result of the end of the European Social Fund (ESF) programme. FSWC had been in receipt of European Social Fund funds since 2008. The impact has been felt across the whole of Northern Ireland with many conllnunity and voluntary groups suffering the same fate. FSWC lost professional, dedicated and loyal people. They gave their all to ensure that tbis organisation was a strong pillar within the Mid Ulster community. Right up until they left on 30 Marcm they continued to work to deliver a wide variety of programmes and courses for women. In October 2022 all the main political parties came to FSWC to hear about the impending in]pact of losing ESF funding. The community and voluntary organisations came together to lobby MLA'S, MPS and Pennanent Secretary's. Despit¢ encouraging responses from all parties the European Social Fund ceased on 31" March. This left dozens of community groups and communities with a mammoth task to find ndIllg to replace a very effective and well managed fund. Programmes and Courses April 2022-March 2023 FSWC has noted an improvement in numbers attending this year compared to last year. This year, FSWC provided 44 different courses with 543 places. The evidence suggests that the days of people fearing to go out because of the spectre of Covid-19are waning if not totally gone. Lifeskills This past year has brought some new and some not so new courses. Our Lif¢skills programme continues to provide English for Speakers of Other Languages (ESOL) to multiple llationalities. This year there were nine different nationalities.(Please see the Lifeskills report to find out where these women came from.) Lifeskills also continues to offer Essential Skills in Literacy. The Centre is now witnessing a number of the migrant women progressing into our Literacy prograjnme. That is clear evidence of the progress these women are making in their level of English. They have very good tutors in Louisc Canieron and Una Quinn who have taught ESOL at FSWC for over l O years. Wellbeing The one area whicb has witnessed a continued increase in demand is our Wellbeing PrOall]meS. During this past year there has been 31 different courses and 516 places provided. There was quite a lot of interest in the Chiuese Brush Strokes art class, Tai Chi, Chi Me and Forest Bathing. Please read the Wellbeing Report and Testimonies from participants who have felt their mental health and lives have improved as a result of attending one of these courses.
FIRST STEPS WOMEN'S CENTRE Cultural Program]ne This continues to develop. With more than l O nationalities learning alongside each other at First Steps Women's Centrc the place is an eclectic cauldron of people with nlly diverse backgrounds. This programme funded by The Executive Office under their Minority Ethnic Development Fund, was responsible for the first "Human Library" event at FSWC. The aim of the Human Library is to better our understanding of diversity in order to help create more inclusive and cohesive communities acTOSS cultural, religious, social and etl)nic differences. The event in February was a great success. The participants included the PSNI, Orange Order, Sinn Fein, St Patrick's Academy and women from a local Church group. FSWC seeks to provide more of these opportULuties as a means of promoting and developing greater understanding, respect for differences and to engender better Good Relations. ExternaI Evaluation FSWC commissioned an External Evaluation in October 2022. This included focus groups and an online survey in multiple languages. I have included some of the testimonies within this Annual Report. The conclusion of this independent evaluation highlights the ¢oJJtinued positive impact that FSWC has on women. Support Services FSWC recognises the many baLTiers that exist for women seeking to attend the Centre. Special thanks to Karen and Ann who gave up their time freely as volunteers to provide much needed counselling. Also to our Childcare Staff and to Franco our Minibus Driver. Without tbese serviccs retention and attendance would be a lot less. In Conclusion Despite the loss of one third of staff First Steps Women's Centre has rallied well to continue the magnificent work that it does. The successes of funding applications through Lottery and UK Sbared Prosperity Fund has steadied the ship. It has given FSWC a hope and a future. This in turn gives hope and a future for the women who atlend and wat to attend here. Without tbe help and conjjnitment of the Board, Staff, Volunteers, Funders and Tutors our Centre would not exist the way that it does. I aln extremely proud of the work and the impact that continues to be achieved. Thanks Finally, I would like to thank all the staff, Directors and volunteers who made this year a great year not only for the women but for tkne whole community. Michael McGoldrick Chief Executive
FIRST STEPS WOMEN'S CENTRE Report of the trustees for the year ending 31 March 2023 The trustees are pleased to present their annual directors, report together with the financial statements of the charity for the year ending 31 March 2023 which are also prepared to meet the requirements for a directors, report and accounts for Companies Act PU4)oses. The financial statements comply with the Charities Act 2008, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicablc to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in tbe UK and Republic of Ireland (FRS 102) (effective l January 2019). Our purposes and activities Charity's Vision: Confident women empowered to participate in and influence society. Charity's Mission: Supporting women'sprofessional andpersonal developmenl through education and training. Charity's Values: We value integrity, honesty and recognise our unique contributton We welcome all equally We value accountability and promote quality through continued reflection and improvement We use a person-centred approach, realising individual potential Our own constitution states that our objects include the: (a) relief of unemployment among women in such ways as may be thought fit, including assistance to find employment. advancement of educatio training or retraining and providing unemploycd women with work experience; provision of recreatlollal facilities for women or those who by reason of their youth, age, infmity or disablement, poverty or social ]d economic circumstances, have need of such facilities,. preservation and protection of health of womcn and the provision of childcare. development of the capacity and skills of women in the area of benefit in such a way that they are better able to identify, and help meet, their needs and to participate more fi]Ily in society. promotion of social inclusion, equality of opportunity and good relations across all diversity strands, including race, ethnicity, age, sexual orientation, religion and disability and to encourage diversity. establishment or securing the establishlljent of a Centre, and to maintain and manage the same (whether alone or in co-operation with any local authority or other person or body) in furtherance of these objects. pron]otion of all or any objects for the benefit of women who live in Mid Ulster (the "area of benefit") which now or hereafter rnay be deemed by law to be charitable. (b) (c) (d) (c) (fj (g) (h) As an integral part of the Mid Ulster community and voluntary sector the Charity continues to focus on the personal development of women for the benefit of the wider community. The charity also has the general aim of contributing to the quality of life of the women in our community by expanding their horizons througb the provision of exciting, challenging and acccssible educational courses.
FIRST STEPS WOMEN'S CENTRE In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commissions guidance on 'Public Benefit: Running a Charity B2),. The Centre relies on grant income to cover its operating costs. We endeavour to encourage all within our community to take part in our courses and programmes. The stratcgies employed to achieve the charity's aims and objectives are to. present a range of courses for the enjoyment and advancement of education to women in our community. offer opportunities for women in our community to get involved in exploring their creative powers. provide facilities for women and children to develop" celebrate the diversity of cultures in our society by progiamming courses by, and with, tutors of different cultural backgrounds. Financial review The income and expenditure for the year is detailed in the accounts. A major financial concern for the Centre as with any charity will be the ongoing financial sustainability froin funding in the years to come. The trustees are aware of thc need to maintain free reserves, especially in the current ecoiiomic clunate. Continual fvnd raising will be necessary in order to retain sufficient levels of reserves. We would like to acknowledge the continued support of our funders as referred to in note 4 in the accounts. It is important to recognise that without their funding really does make an impact. It contributes to improve confidence and prepares women to become empowered. The income for the year was £533K of which £518K was received as grant funding. The expenditure of £560K is expended on charitable activities. The balance of funds at 31 March 2023 was £739K of which £324K was unrestrioted incom¢ of which £150K designated funds and £415K restricted funds. Reserves policy and Plans for the future Reserves are n¢eded to bridge the gap between the spcnding and receiving of income as well as to cover unplanned emergcncy repairs and other expenditure. The trustees consider that the ideal level of rcserves as at 31, March 2023 would be £150k. These are unrestricted incoine funds freely available for use as the charity so deterniines and excludes any funds committed to revenue expenditure or to be invested in tangible fixed assets. Without the support of the European Social Fund, Department for Economy and Department for Communities, it is doubtful that the Centre could continue operating. The trnstees are endeavouring to ensure the success of FSWC with a coinbination of measures by offering a creative programme that caters for women from all backgrounds and cultures within our community. The European Social Fund (ESF) programme in Northern Ireland ended 31 March 2023, it will leave a huge funding gap in the community. There was a promise made by the UK Government that ESF funding would be replaced pound for pound. This replacement funding, known as UK Shared Prosperity Fund (UKSPF) will come online in April 2023. However, it has become clear that it will not be a 100% replacement of the ESF Funding. It looks like this fund will represent around 40-500/0 of ESF funding. The damage to community and voluntary infrastructure due to the loss of ESF funding (a loss of £27.3million annually within NI) És massive. A total of 63 organisations received ESF Funding during the final call in April 2022.
FIRST STEPS WOIVIEN'S CENTRE All of these organisations will now be at risk due to the end of funding and also the fact that there will not be a 100 % replaceinent fijnd. The loss of ESF funding will leave a £275k deficit per annum in First Steps Women's Centres budget. This is approximately 600/0 of the overall budget and is a massive gap in FSWC'S funding and finances. By March 312023 FSWC had already £200k in place for the year 2023-24. This equates to 400/0 of the annual funding. FSWC has sought to identify alternative funding from a number of different sources. These include Peace Plus and the UKSPF. However, at this time (March 2023) there is nothing definitive from Peace Plus and the UKSPF. An application madc to the Lottery for £485k over five years was successful and FSWC received notification of this in December 2022. This equates to £97k per annum. The loss of funding has had repercussions for the staff, the Centre and the broader community of Mid Ulster. At the end of March 2023. we bid farewell to five staff that were made reductant due to the end of the ESFIDFE funded project Women into Education and Employment. The trustees having reviewed the financials of the Centre consider that with future reduccd available resources th¢ Centre would have to consider operating on a 3-day week albeit with a potential reduced capacity. The trustees and staff and volunteers recognise the impact this would have on the users of the Centre. their families, staff and wider community. There could be a reduction in the levels of Wellbeing, Life skills and IT programmes. Services such as our Creche and Minibus Transport would also bc reduced and the withdrawal of our Benefit Checking Service. With current world-wide events, and its impact being felt globally, First Steps Women's Centre is helping displaced families in providing a nourishing environment to feel secure and grow in confidence to enable them to integrate in our community. The importance of contributions from Centre's like ourselves should never be allowed to be underestimated and to go unrecognised. Experience and feedback are indicators of the immeasurable value that FSWC has contribut¢d to users and their families. And like all women who have attended this Centre who have never given up, we too at FSWC, will strive to ensure that we can continue to operate a 5- day week. FSWC will continue to seek to build up reserves and to attract funding from other nongovernmental sources. The charity's largest source of grant funding was for the Women Towards Education & Employment (WTEE) project funded by the Department for the Economy's Northern Ireland European Social Fund programme. This programine has ceased. It is hoped that First Steps Women's Centre will continue to deliver similar programmes through the UK Shared Prosperity Fund (UKSPF). Furtherniore, the First St¢Ps Women's Centre receives funding from the Department for Communities for core salary costs. Due to the uncertainty arising from the lack of an operational Executive at Storn]ont, this funding is Currently confim]ed until March 2024. Thc trustees have a reasonable expectation that this funding will be extended. however are also planning to mitigate the risk of funding not being secured by sourcing alternative funding and considering alternative income streams. The trustees have also considered the extent to which activities and expenditure should be curtailed, should circumstances arise. The Trustees havc examined the charity's requirements for reserves considering the main risks to the organisation and established a formal policy which stipulates that free reserves be maintained at a level which ensures that the charity's core activity could continue during a period of unforeseen difficulty. Free reserves are defmed by the Trustees as unrestricted income funds freely available for use as the charity so deternlines and thereby excludes any funds committed, invested in tangible fixed assets held by the charity and restricted or designated funds. io
FIRST STEPS WOMEN'S CENTRE It is the policy of the charity that unrestricted llds which have not been designated for a specific use should be maintained at a level equivalent to a rtLinimun] to three month's expenditure. The Trustees consider that reserves at this level will ensure that, in tbe event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional fimds may be raiscd. Based on tkle year ended 31 March 2024 projected expendittire (excluding depreciation and non-recurring costs) of £425K, the target level of designated reserves is £150K. Free reserves of the charity as at 31 st March 2023 are £325K of which £150K has already been designated to reserves. The Trustees are pleased to confirm that the charity is compliant with its reserves policy. The Trustees continue to strive to maintain a general level of reserves in accordance with their policy so that they will be able to continue the Cuent activities of the chaTity. Reference and administrative details Registered Office: 21a William Street, Dungannon, Co Tyrone, BT70 IDX. Our advisers Auditor" E A Grimley & Co Limited,16 Clonoc Village Business Park, 98 Washingbay Road, Clonoe Dungannon, Co Tyrone, BT7149U Danske Bank Limited, Market Square, Dungannon, Co Tyrone P Haughey, William Street, Dungannon, Co Tyrone B T70 IDX Bankers. Solicitors. Key management personnel First Steps Women's Centre: Trustees, and Directors Directors and trustees The directors of tbe charitable company (the charity) are its trustees for the pu4)ose of charity law. The trustees and officers senring during the year and since the year end were as follows.. Chair.. Treasurer Maria McGilly Katalin Hajdu Paula Smyth Wendy Wigton Edel Cunningham Siobhan Wallace Nicola Quinn Marli Wilson Geraldine McAuley Mary O'Neill Louise Mallon Helen O'Donnell Janice Mcmullan appointed appointed resigned resigned resigned resigned resI]ed 26 September 2022 30 November 2022 26 September 2022 26 September 2022 16 November 2022 16 November 2022 30 November 2022 li
FIRST STEPS WOMEN'S CENTRE Key management personnel: Senior managers of First Steps Women's C¢ntre: Chief Executive Officer: ESF/DtE Project Manager Michael McGoldrick Yvonne Corbett Structure, Governance and Management Governing Documejjt First Steps Women's Centre is a Company Limitcd by Guarantee governed by its Memorandum and Articles of Association updated on 6 October 2021. It is a registered charity with the Charity Commission Northern Ireland. The registration number is NIC 101202. Tbe charity was registered as a charity under the Coo)oration Taxes Act 1988, registration number XR 275 82. First Steps Women's Centre is registercd with the Financial Conduct Authority, The registration number in FRN'.618755 Appointment of trustees As set out in the Articles of Association the maximum Board members shall be l O and the minimum number 5. One third of the meinbers shall be co-opted by way of public advertisement. All members are circulated with invitstions to nominate trustees prior to the AGM advising them of the retiring trustees and requesting nominations for the AGM. When considering co-opting trustees, the Board has regard to the requirement for any specialist skills needed. Trustee induction and training New trustees undergo an orientation session to brief them on: their legal obligations under charity and company law, the Charity Collunission guidance on public benefit, and infomi them of the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and recent financial perforniance of the charity. Any person wishing to become a board member must apply in writing for approval by the Trustees. It is a requirement that the board members attend an induction process covering good governance. During the induction they meet key employees and other trnstees. Trustces are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. Organisatioll The board of trustees, which can have up to 10 members, administers the charity. The charity is managed by the Trustee Board, which meets at least 6 times per year. The clwity CEO liaises between meetings with the Chair and Treasurer to ensure the smooth running of thc organisation. To facilitate effective operations, the CEO has delegated authority, within tenns of delegation approved by the trnstees, for operational matters Éncluding fmance, employment. 12
FIRST STEPS WOMEN'S CENTRE Related parties and co-operation witb other organisations None of our trustees receive remuncration or other benefit from their work with tbe charAty. Any connection between a trustee and senior manager of the charity with a funder must be disclosed to the full board of trustees in the same way as any other contractual relationship with a related party. In the current year no such related party transactions were reported. Pay policy for senior staff The rates of pay are in line with tbe NJC scale. Risk management The trustees kLave a risk management strategy which comprises: an annual review of the principal risks and uncertainties that the charity may face the establishment of policies, systems and procedures to mitigate those risks identified in the annual review; and the implementation of procedures designed to minimise or manage any potential itnpact on the charity should those risks matcrialise. This work has identified that fmancial sustainability is the major fmancial risk for the charity. A key element in the mallagement of fmancial risk is a regular review of available liquid llds to settle debts as thcy fall due, regular liaison with the CEO to ensure sufficient working capital by the centre. Attention has also been focussed on non-fmancial risks arising from rc, health and safety staff, volunteers and clients. These risks are managed by ensuring accreditation is up to date, having robust policies and procedures in place and regular awareness training for staff working in these operational areas. Trustees, responsibilities in relation to the financial statements The Charity Irustees (who are also the directors of the First Steps Woinen's Centre for the purposes of company law) are responsible for preparing the trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accoullttng Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the stat¢ of affairs of the clwitable company and of the incoming resources and application of resources, including tbe income and expenditure, of the charitable company for that period. preparing the fmancial statemeiits, the trustees are required to: select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent. state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the flljancial statements. and prepare the fmancial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and to enable thein to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other Arregularities. 13
FIRST STEPS WOMEI¥I'S CENTRE The trustees are responsible for the maintenance and integrity of the corporate and fmancial inforniation included on the charitsble company's webstte. Statement as to disclosure to our auditors In so far as the trnstees are aware at the time of approving our trustees, annual report: there is no relevant infonnation of which the charitable company's auditor is unaware, and the trustees, having made enquiries of fellow directors have each taken all steps that helshe is obliged to take as a director in order to make themselves aware of any relevant audit inforn]ation and to establish that the auditor is aware of tbat infortnation. Auditors E A Grimley & Co are deemed to be reappointed in accordance with section 487(2) of the Companies Act 2006. This report was approved by the board of trustees and signed on its behalf by the chai4)erson Maria CGI (Chairperson) Dated: 22nd November 2023 14
FIRST STEPS WOMEN'S CEIYTRE Independent Auditor's report to the members of First Steps Women's Centre Opinion on financial stateDJents We have audited the financial statements of First Steps Women's Centre (the 'charity') for the ycar ended 31 March 2023 which comprise the statement of Financial Activities, statement of fll]ancial position, and related notes including a surnmary of significant accoullting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Finai7cialReporting Standard applicable in ihe UKandRepublic ofIreland (United Kingdom Generally Accepted Accounting Practice). In my opinion the financial statements.. give a true and fair view of the state of the charity's affairs as at 31 March 2023 and of its incoming resources and application of resources for the year then ended. have been properly prepared in accordance witb United Kingdom Generally Accepted Accounting Practice. have been prcpared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilitics for the audit of the accounts section of our report. We are independent of the charity in accordance with ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC'S Ethical Standard. in the circumstances set out in note 22 to the financial statements, and we have fulfilled our ethical responsibilities in accordan¢e with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to pmvide a basis for our opinion. Conelusions relating to going concern Jn auditing the fll]ancial statements, we have concluded that the Trustees, use of the going concern basis of a¢countillg in the preparation of the financial statements is appropriate. Based on the work we have perfomied, we have not identified any material uncertainties relating to events or conditiolls 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 months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustecs with respect to going concern are sections of this report. Other Information The other information comprises the information included in the annual report, other than the accounts and our auditor's report thereon. The Trustees are responsible for the other inforn]ation contained within the annual report. Our opinion on the fmancial statements does not cover the other inforntIon and, except to the extent othenvise explicitly stated in our report, we do not express any forn] of assurance conclusion thereon. Our responsibility is to read the other inforniation and, in doing so, consider whether the other infonnation is materially inconsistent witb tbe accounts 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 deterniine whether there is a material misstatement in the accounts or a material misstatement of the otber infonnation. If, based on the work we have 15
FIRST STEPS WOMEN'S CENTRE Indepejjdent Auditor's Report (Continued) perfonned, 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. Opinion on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit: the information given in the Trustees, report for th¢ financial period for which the accounts are prepared is consistent with the accounts. and the Trustees, Report has been prepared in accordance with applicablc legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the Trustees and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, Report. We hav¢ nothing to report in respect of the following matters in relation to which the Compani¢s Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for my audit have not been received from branches not visited by us. or the fmancial statements are not in agreement with th¢ accounting records and the returns" or certain disclosures of directors, remuneration specified by law are not made. or we have not received all the inforn]ation and explanatlons I require for our audit. the Trustees were not entitled to prepare the financial statements in accordance with the small companics, regime and take advantage of the small companies, exemptions in preparing the Trustees, report and from the requirement to prepare a strategic report. Responsibilities of Trustees As explained more fulky in the Statement of Trustees, Responsibilities, the Trustees, who are also directors of the charity for the purposes of company law, are responsible for the preparation of the fmallcial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors deterniine necessary to enablc the preparation of accounts that are free from material misstatement, whether due to fraud or error. In preparing the fllmncial statements, the Trustees are responsible lor assessing the charity'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 charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the fmancial statements as a whole are free from material misstatelnent, whether due to fraud or TOr, 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 16
FIRST STEPS WOMEN'S CENTRE Independent Auditor's Report (Continued) 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 ill the agegate, they could reasonably be expected to infiuence tILe economic decisions of users taken on the basis of th¢se financial statements. The extent to wl]ich our procedures are capable of detecting irregularities, including fraud, is dctailed below. Extent to which the Audit was considered capable of detecting irregularities, including fraud The objectives of our audit in respect of fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud. to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks. and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with govemance of the charitable company. Based on our undcrstanding of the charitable company and its operating environment, we detennined that the most significant frameworks which have a direct impact on the preparation of the financial statements are those related to the reporting frameworL (FRS 102, the Charities Act (Northern Ireland) 2008, The Charities (Accounts and Reports) Regulations (Northern Lreland) 2015, the Charity SORP and the Companies Act 2006). Additionally, we concluded that there are significant laws and regulations in relation to the company's charitable status and activities of which non-compliance may have a matcrial effect on the fllwicial statements. We assessed the susceptibility of the charitable company's financial statements to material misstatement, including how fraud n]ight occur, including evaluating management's in¢eiitives and opportunities to manage earnings or influence the reported results. From the resulis of our assessment, we detennined that the principal risks of fraud relate to posting inappropriate journal entries and usc of clwity ftmds for PULyoses outside of restrictions imposed by the donor. In common with all audits under ISAS (UK), we are required to perforn] specific procedures to respond to the risk of management oVeIde. Audit response to risks identified As part of an audit in accordance with ISAS (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. Audit procedures perfornied by the engagement team included: We obtained an understanding of the charitable company's internal control systems in order to design audit procedures that are appropriate in the circumstances, but not for the puryoses of expressing an opinion on the effectiveness of the charitable company's internal control. We obtained an understanding of how the charitable company complies with relevant laws and regulations, including those as a result of its registration with the Charity Commission for Northern Ireland and charitable status with HM Revenue & Customs , by making enquiries of management and those Charged with goven]ance. Enquiry of mallagement, those charged with governance and the entity's solicitors around actual and potential litigation and claims. Enquiry of entity staff to identify any instances of non-compliance with laws and regulations. Perforn]ing analytical procedures to identify any unusual or unexpected relationships t}t tnay indicate risks of material misstatement due to fraud Reviewing minutes of meetings of those charged with governance 17
FIRST STEPS WOMEN'S CENTRE Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. We test the completelless of income to address the risk of fraud in relatioll to revenue recognition Auditing the risk of management override of controls, including t}OUgh testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions that are unusual or outside the nonnal course of business. Auditing the risk of use of charity ndS outside of restrictions imposed by the donor by review of funding letters of offer to identify restrictions, and review of funding claims prepared by management to check ¢onLpliance with restrictions. We communicated relevant laws and regulations and potential fraud risks to all engagement teani members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the fmancial statements, the less likely we would become aware of it. Also, the 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 through collusion, forgery, intentional omissions, misrepresentations or the oveIde of internal control. A fvrther description of our responsibilities for the audit of the accounts is located on tbe Financial Reporting Council's website at: htt :/lwww.frc.or .uklaudilorsres onsibililes. This description forms part of our auditor's report. Use of our report This report is llde solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 (Section 495) of the Companies Act 2006 and regulations made under that Act. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors, report and for no other puoSe. To the fullest extent permitted by kaw, we do not accept or assume responsibility to anyone other than the charitable company and its members as a body. for our audit work, for this report, or for the opinions we have fornied. Ethna Grim cy (Senlor Statutory Auditor) for and on behalf of E A Grimley & Co Litllited Dated 22. November 2023 Chartered Accountants and Statutory Auditor 16 Clonoe Village Park 98 Washingbay Road, Clonoe, Dungannon, Co. Tyronc, BT714PU 18
FIRST STEPS WOMEN'S CENTRE Statement of Financial Activities (including incowe and expenditure account) for year ending 31 March 2023 2023 2022 Unrestrieted Funds Restricted Funds Notes Total Funds Total Funds Income: Activitiesfor generatingfunds Donations and Legacies 14,502 14,502 10,464 Incomefrom charilable activities.. Grant Income 515,841 515,841 516,321 Capital Grants Investment income 1,947 1,947 1,022 1,022 864 Total income 517 788 533 312 527 649 Expenditure Expenditure on charitable activities.. Expenditure 54,390 505,838 560,229 480,869 Total expenditure 54,390 505,838 560,229 480 869 Net incomel(expenditure) and Det movement ill funds for the year (38,866) 11,950 (26,916) 46,780 Transfer between Funds 32,649 (32,649) Reconciliation of funds Total Funds brought fonvard 330,290 324,073 435,990 415,291 766,280 739,364 719,500 766 280 Total funds carried fOard The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 22 to 32 form an integral part of these fanCIal statements 19
FIRST STEPS WOMEN'S CENTRE Statement of Financial Position (balance sheet) as at 31 March 2023 2023 2022 Note Fixed assets Tangible assets Total Fixed Assets 13 349,454 349,454 379,101 379,101 Current assets Debtors Cash at bank and in halld Total Current Assets 14 50,760 344,427 395,186 46,285 344,347 390,632 Liabilities Creditors falling due within one year 15 5,277 3,453 Net Current assets 389,909 387,179 Net assets 739,364 766 280 The funds of the charity: Unrestricted income funds Designated Reserves Restricted income funds Total charity funds 16 16 17 174,073 150,000 415,291 739,364 180,290 150,000 435,990 766,280 These accounts are prepared in accordance wlth the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts requÈred by the Companies Act 2006 and are for circulatioll to members of the company. The fmancial statements were approved by the trustees on 22nd November 2023 and signed on its behalf: Maria McGilly, ChairPerson Company Number: N1066869 The notes on pages 22 to 32 form an integral part of these financial statements 20
FIRST STEPS WOMEN'S CENTRE STATEMENT OF CASH FLOWS FOR YEAR EIYDING 31 MARCH 2023 Note 2023 2022 Cash used in operating activities 22 2113) 64,239 Cash flows from investing activities Interest income Purchase of tangible fixed assets Cash provided by (used in) investing activities 1,022 864 (7,567) 6.703) 1,093) Cash flows from financing activities Repayment of bOowing Cash used in fancIng activities Increase (decrease) in cash and cash equivalents in the year (1,296) 57,536 Cash and cash equivalents at the beginning of the year 344,217 286,681 Total cash and cash equivalents at the end of the year 342,922 344,217 Per Bank Per Creditors 344,427 1,505 342,922 344,347 130 344,217 Tbe notes on pages 22 to 32 form an integral part of these financial statements 21
FIRST STEPS WOMEN'S CENTRE Notes to the Financial Statements For the Year Ended 31 March 2023 Accounting Policies Charity Information First Steps Women's Centre is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 2 la William Street, Dungannon, Co Tyrone, BT70 IDX. The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: a) Basis of preparation The financial statements have been prepared 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 Rq)ublic ol Lreland (FRS 102) (effectÈve l January 2015) - (Charities SORP (TRS 102)), the Financial Reporting Standard applÈcable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). The charity has taken advantage of thc provision of SORP for charities applying FRS 102 Update Bulleting I not to prepar¢ a Statement of Cash flows. The accounts are prepared in sterlkng, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. b) Preparation of the accounts on a going concerD basis. The number of using the charity is increasing year on year but the uncertainty surrounding fimding is a significant area of financial uncertainty that will invariably impact upon the services that we can offer. The trustees have mitigated these risks by continually cIllengIng decisions made at government level to ensure that the impact of provisions of services is Minin1. The trustees are of the view that measures have been taken subsequellt to the year-end to ensure Continuous funding for the immediate future of the Centre for the next 12 to 18 months and that on this basis the charity is a going concern. c) ljjcome Income is recognised when the charity has entitlement to the funds, any perforn]ance conditions attached to the item(s) of income have been met, it is probable that the Income will be received and the amount can be measured reliably. 22
FIRST STEPS WOMEN'S CENTRE Notes to the Financial Statements For the Year Ended 31 March 2023 (continued) Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the fimds, any perfonnance conditions is attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. d) Donated services and facilities Donated professÈonal services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time spent within the charity is not recognised and refer to thc trustees, annual report for more infomjation about their contribution. On receipt, don2ted pmfessional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market. a corresponding amount is theii recognised in expenditure in the period of receipt. e) Interest receivable Interest on funds hcld on deposit is included when receivable and the amount can be measured reliably by the charity" this is norn]ally upon notification of the interest paid or payable by the Bank. fj Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees bave decided at their discretion to set aside to use for a specific purpose. Restricted funds are to be solely used for particular areas of the Charity's work or for specific projects being undertaken by the Charity. g) Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructlve obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings.. • • Expenditure on charitable activities includes the costs of Education, Childcare, Advice, Transport and representation undertaken to further the purposes of the charity and their associated support costs. 23
FIRST STEPS WOMEN'S CENTRE Notes to the Financial Statements For the Year Ended 31 March 2023 (continued) • • Other expenditure represents those items not falling into any other heading. The charity is not registered for Vat. ITrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. h) Allocation of support costs Support costs are those nctiOnS that assist the work of the charity but do not directly undertake charitable activities. Support costs include back-office costs, finance. personnel, payroll and governance costs which support the Centre's programmes and activities. The bases on which support costs have been allocated are set out in note 7. i) Operating leases The charity classifies the lease of prKnting, as operating Icases. the title to the equipment remains with the lessor and the equipment is replaced every 5 years whilst the economic life of such equipment is nonnally 5 years. Rental charges are charged on a straight-line basis over the terni of the lease. j) Depreciation Tangible fixed assets tndividual fixcd assets costing £500 or more are Capitalised at cost and are depreciated over their estimated useful economic lives as follows: Asset Category Building Adaptations Fixtures and fittings and Equipment Computers Annual rate 5 % Straight Line 200/0 Reducing Balance 33 /0 Straight Line k) Debtors Funding due and other deblors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid net of any trade discounts due. l) Cash at bank and in hand Cash at bank and cash in hand includes cash and short tern] highly liquid investnients with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. m) Creditors and provisions Creditors and provisions are recogniscd where the charity bas a present obligation resulting from a past event that will probably result in the trdnsfer of funds to a third party and the amount due to settle the obligation can be measured 01 estimated reliably. Creditors and provisions are normally recognised at their settlement an]ount after allowing for any trade discounts due. 24
FIRST STEPS WOMEN'S CENTRE Notes to the Financial Statements For the Year Ended 31 March 2023 (continued) n) Pensions Employees of the charity are entitled to join the Workers Pension Trust Scheme which is funded by contributions for employee and employer. Employees are automatically enrolled into tbe pension schen]e unless they have exercised their right to opt out of scheme membership. Employers Pension contribution represented 30/0 of pensionable pay and employee's contribution of 50/0 of pensionable pay. The trustees are satisfied that any foreseeable change in employer's contributioiis can be budgeted for without detriment to the charity's ongoing activities. o) Financial instruments The trust only has fmancial assets and financÈal liabilities of a kind that qualify as basic fmancial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at tkLekr settlement value with the exception of bank loans which are subsequently measured at aD]Ortiscd Cost using the effective interest method. Legal status of the Trust The organisation is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £ I per member of the charity. Donations and Fundraising Income from donations and legacies 2023 2022 Donations Gift Aid Rental Activity TOTAL 8,764 1,233 4,505 14,502 5,506 758 4,200 10,464 The Centre benefjts greatly from the involvement and enthusiastic support of its volunteers and supporters. In accordance Ivitb FRS 102 alld the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts. 25
FIRST STEPS WOMEN'S CENTRE Notes to the Financial Statements For the Year Ended 31 March 2023 (continued) Income from charitable activities Income from charitable activities Restricted Funds 2023 Restricted Funds 2022 European Social Fund l Department for Economy CIF - Match Funding.. Department for Con]munities Department for Communities - WCCF Mid Ulster District Council -strategic Con)munity Development Grant The Pathway Fund TEO (MEDF) DtE - Prep for Work ClearlHSC TESCO (Ground Works) CIF - Non match Funding.. Department for Communities Dfc HWSB Garfield Weston Foundation The Volant Charitsble Trust Cbarities Aid Foundation (CAF) TEO (GR) The 29th May 1961 Charitable Trust Mid Ulster District CouDciI - Con]n]unity Development ASDA Foundation Screw Fix DFC CIF Funding - Energy Grant Funding (22123) The W.G Edwards ClwitAble Foundation Choice Housing Apex Housing B&Q Neighbourly The Edward Gosiling Foundation Co-operation Ireland Small Capital Grdnts Ecclesiastical - Movement for Good Amold Clark Community Fund Mid Ulster District Council - Business Marketing Grant AMAZON SMILEAioyalties CFNI - SIT George Earle Benevolent Fund CFNI - Wesleyan Assurance Fund TOTAL 271,472 38,903 37,051 11,814 15,000 40,373 2,789 5,669 1,125 26.993 272,716 35,642 38,242 6,000 15.000 26,331 2,803 4,226 1,000 26.888 30,000 30,000 17,300 2,000 17,435 3,000 2,500 2,250 3,000 6,100 500 4,300 1,500 1,520 3,100 4,380 3,000 5,000 1,398 1,000 1,000 300 1.600 9,940 516 321 515,841 Restricted Funds Restricted Fund5 Income Allocated to Capital Grants 2023 2022 DOH - HSC - Childcare Partnership 1,947 1,947 26
FIRST STEPS WOIVIEN'S CENTRE Notes to the Financial Statements For the Year Ended 31 March 2023 (continued) Investment income All of the investment income of arises from money beld in intcrest bearing deposit accounts. Analysis of expenditure on charitable activities 2023 2023 2023 Total Unrestricted Restricted 2022 Total Wages and salaries Redundancy Payment Staff T&S /Expenses Staff training and reeruitment Facilitation & Events Exam Fees Participant Travel Participant Training & Course Materials Volunteer Expenses Interpreter Services Rent and Rates Light and heat Telephone Printing, postage and stationery RC - Printing/Stationary IT support Motor expenses Repairs and maintenance tnsurance Small Equipment Purchase Creche Equipment Subscriptions Accreditation Fees Application Health aiid Safety Donations to other Charitics Emergency Assistance Misc Expenses OC - Defe¢d Funding Advertising Course Expenses and tutor fees Participant comfort expenses Support Costs General expenses Depreciation of tangible assets Refunds Total 280,963 54,390 3,732 2,959 4,162 1,529 1,391 371 1,040 40 15,971 14,159 2.920 2,966 280,963 263,961 54,390 3,732 2,959 4,162 1,529 1,391 371 1,040 40 15,971 14,159 2,920 2,966 3,448 942 472 3,863 1,998 2,579 843 16,099 5.725 2,961 3,247 3,787 1,568 9,063 4,826 643 2,478 346 750 124 987 2,780 1,493 3,787 1,568 9,063 4,826 643 2,478 346 750 124 987 2,780 1,493 3,099 1,637 6,553 3,064 2,250 2,103 540 740 81 50 2,551 46 2,300 44,403 920 65,404 2,300 44,403 920 65,404 4,204 47,940 459 63,797 198 35.584 72 480 869 31,762 31,762 560,229 54,390 505,838 Restricted Expendire on chitable activities for 2023 £505,838 (2022 £480,869). 27
FIRST STEPS WOMEN'S CENTRE Notes to the Financial Statements For the Year Ended 31 March 2023 (continued) Analysis of governance and support costs Current Year 2022 General support Governance Total Salaries Audit fees Legal Fees Bank charges 56,874 56,874 3,148 5,195 188 65,404 59,954 2,520 1,190 133 63,797 3,148 5,195 188 62,256 3,148 Net incomel(expenditure) for the year 2023 2022 This is stated after charging: Depreciation of tangible assets Auditors, remuneration 31,762 3,148 35,584 2,520 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel 2023 2022 Salaries and wages Social security costs Employer Allowance Statutory Maternity Pay recovered Pension costs 369,180 24,721 5,000 302,731 22,252 4,000 3,328 392,605 2,931 323,914 No employees had employee benefits in excess of £60,000 (2022: nil). The charity trLL8tees were not paid or received any other benefits from einployment with the Trust in the year (2022: £nil) neither were they reitnbursed expenses during the year (2022: £nil). No charity trustee received payment for professiollal or other services supplied to the charity (2022: £nil). 28
FIRST STEPS WOMEN'S CENTRE Notes to the Financial Statements For the Year Ended 3 1 March 2023 (continued) 10 Staff Numbers The average montmy head count and the average monthly number of ll-time equivalent employees (including casual and part-time staffj during the year were as follows: 2023 2022 Number Education Governance/Support 15 14 17 16 11 GoverDment Grants Income from government grants comprises perfonnance related grants made by local authorities to fund the Educational programmes. 12 Corporation Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 13 Tangible red assets Leasebold Property Plant and Equipment Motor Vehicles Total Cost; As at l April 2022 Additions As al 31 March 2023 458,092 145,576 2,115 147,691 32,782 636,450 2,115 638,565 458,092 32,782 Depreciation: As at l April 2022 Charge for the year As at 31 March 2023 123,077 20,938 144,015 115,307 7,370 122,677 18,965 3,454 22,419 257,349 31,762 289,111 Net book value As at 31 March 2023 314,077 349 454 As at 31 March 2022 335 015 13,817 379,101 29
FIRST STEPS WOMEN'S CENTRE Notes to the Financial Statements For the Year Ended 31 March 2023 (continued) 14 Debtors 2023 2022 Grant Debtor European Social Fund / Department for Economy DFC - CtF & WCCF Salary Support 22123 TEO (GR) Department for Communities WCCF Funding Dfc - Prep for Work TEO (MEDF) Clear Project IHSC Department for Communities NMF Choice Housing Dfc EtWSB Mid Ulster District Council Prepayments 22,693 3,143 22,341 8,718 6,224 229 4,533 618 524 1,171 10,172 1,718 600 230 5,632 5,401 50,760 3,098 46,285 15 Creditors: amounts falling due within one year 2023 2022 Credit Card Accruals 1,505 3,772 5,277 A floating Charge dated 281612010 was created by the organisation for s¢curing all monies due to or becoming due to the organisation to Northern Bank Limited now Dankse Bank Ltd. 130 3,324 16 Analysis of charitable funds Balance Asatl April 2022 Funds As at 31 March 2023 Incoming Resources resource5 expended Transfers General fund Designated Retained Reserves Total 180,290 15,524 (54,390) 32,649 174,073 150,000 330,290 150,000 324,073 15,524 (54,390 32,649 The transfer of £32,649 from restricted funds represents surplus fijnding for indirect costs in accordance with fvnding agreements which is being released and tranSfe¢d to unrestricted funds. General fund Thc 'free reserves, after allowing for all designated funds. Designated Retained Reserves Designated fund to cover 4 months operational costs in the event of shortfall on funding. 30
FIRST STEPS WOMEN'S CENTRE Trlotes to the Financial Statements For the Year Ended 31 March 2023 (continued) 17 Analysis of movements in restricted fund Balance As at l April 2022 Funds As at 31 March 2023 Incoming Resources resources expended Transfers Education Total 435,990 435,990 517,788 517,788 505,838 (505,838 (32,649 (32,649) 415,291 415,291 The transfer of £32,649 from restricted llds represents surplus ndIng for indirect costs in accordance with funding agreements wl)ich is being released and transferred to unrestricted funds. Description, nature and purposes of the fund Educatloll To provide professional and personal development through education and training. Assets Property assets fund The value of unrestrict¢d funds represented by the tangible fixed assets owned and used by the charity on an on-going basis for educational activities. 2023 2022 Income Garfield Weston Foundation The Edward Gostling Foundation TESCO (Ground Works) CFNI The Volant Charitable Trust Restricted Revenue Income Capital Fixed Assets 60,000 5,000 1,125 30,000 9,940 17,300 57,240 66,125 349,166 349,166 378,750 378,750 Total Restricted income 415,291 435,990 18 Analysis of net assets between funds General Fund Designated Funds Restricted Funds Total Tangible fixed assets 288 349,166 349,454 Cash at bank and in hand 128,302 50,760 5,277 150,000 66,125 344,427 50,760 Other net current assets/(liabilities) Creditors of more than one year TotaI 174,073 150,000 415,291 739,364 31
FIRST STEPS WOMEN'S CENTRK Notes to the Financial Statements For the Year Ended 31 March 2023 (continued) 19 Contingent Liabilities There is a contingent liability to repay grants received under the terms of their associated letters of offer if the charity fails to achieve and maintain specified conditions. In the opinion of the trnstees the ternis of these letters of offer have been complied with ill full and no loss is expected. 20 Capital Commitments A refurbishment project costillg £478,210 was completed in 2018. The project was grant funded. The organisation has agreed a 20-year terni lease. Rent wkll be paid on an annual basAs. 21 Related Party transactions and ultimate controlling party The trustees are the deemed controlling paty due to their position within the company. 22 Cash generated from operations Reconciliation of net movement in funds to net cash flow from operatxng activities 2023 2022 Net movement in funds per Notc 4 Add back depreciation charge Deduct interest income shown in investing activities (26,916) 31,762 (1.022) 46,780 35,584 (864) Decrease (increase) in debtors Increase (decrease) in creditors Net cash used in operating activities 4,474 448 203 (17,276) 16 64,239 23 Auditors, ethical Standards In common with many organisations of its size and nature, the charity uses its audltors to assist with the compilation of the statutory fjnancial statements. 32