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