Charity regislration numbar NIC101469 (Northern Ireland) Company registration numbor N1067770 WATERSIDE NEIGHBOURHOOD PARTNERSHIP ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
WATERSIDE NEIGHBOURHOOD PARTNERSHIP CONTENTS Pago Legal and administrative information Trustees, report Independent auditorfs report ststement of financial activities 9-10 Balance sheet 11 Statement of cash flows 12 Notes to the financial statements 13-24
WATERSIDE NEIGHBOURHOOD PARTNERSHIP LEGALAND ADMINISTRATIVE INFORMATION TNstees Ms G Dohety Ms L Donnell Mr D Mcclay Mrs H Mcclintock Ms C McLaughlin Ms L Watson Strategy Manager Mrs Awallace Charity number (Northem Ireland) NIC101469 Company number N1067770 Reglstered oiTi¢e Shared Future Centre Cityview Park Irlsh Street Londond6rry BT47 2DB Auditor Moore {NII LLP 21-23 Clarendon Street Derry-Londondery BT48 7EP Bankers Bank of Ireland 27 Culmore Road DerrylLondonderry BT48 8JB
WATERSIDE NEIGHBOURHOOD PARTNERSHIP TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The Iruslees present their annual report and financial statements for the year 8nded 31 March 2025. The financial statements have beèn prepared In accordance with the accounting policies set out in note 1 to the rinancial ststements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and ReF)orting by Charilies.- Stalement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard appli12ble in the UK and Republic of Ireland IFRS 102)". Objectives and activities The overall aim of the organisation is to transfomi the Waterside Neighbourhood Renewal Area into a safe place. which people will choose lo live in. invest in and visit and as a result lh8 Partnership is also heavily involved in liaising with both the statutory, private sectors and govemmenl lo encourage their involvement in the future development of the area. Across the partnership each of the Ioc81 community organisations are responsible for "on the ground" delivery of the actions with support and guidance from the Waterside Partnership Board. The Waterside Strategy Manager co-ordinates all aspects of the implementation process through regular liaison with the respective managers of each of the local community organisations and is responsible for monitoring and evaluating the oulcornes of each of th8 actions contained wilhin the Action Plan. delivered both by the local community organisations and statutory S8clor partners. A diverse range of projeGls has been deliv8red across th8 area under the remit of community, social. economi¢ and physical renewal. Th8S8 projècts have been developed In such a way that they address the issues of disadvantage whi18 at the same time encouraging as much direct input from local people as possible. The Waterstde Action P18n is 8 working document which is regularfy reviewed lo @nsure that all the acllons contained within it are still appropriate and should a new issue Iprlorlly be identified the Plan will be amended lo r8flecl any changes to the situation at local level. The Waterside Partnership Board has established 4 subgroups Waterside Community Development Working Group, Waterside Physical Regeneration Working Group, Waterside Community Safety Forum and Waterside Heallh Forum to assist them in the identification, development and where appropriate Ihe delivery of proj8ctsI ideas which aim to address Neighborhood Renewal's four strategic themes of which are focused on community renewal. social renewal, economic renewal and physical renewal. Public benefit The trustees hava paid due regard to guldance Issued by the Charity Commisslon In deciding what activities the charity should undertake. Achievements and performance Signffjcant activities and achievements agalnst objectives The Community Development Working Group is made up of community representalivgs from each of the Waterside Neighl)orhood Renewal sub-areas, the North Wesl Regional College, Success NW, Excite Project Co-ordinator and the Talking To Our Babies Co-ordinator. The working group oversees the work of Success NW, the Excite Project, Strengthening Futures and Talking To Our Babies. This year the Comrnunity Development Working overseen the delivery of the Strenglhening Futures Programme. Christmas Access lo Food Programme, Baby Bank, Consensual Grant Making Process and the delivery of two Peace Plus funded projects Walerside Together and Out and About. During the year funding for Success NW was secured enabling the continuation of training and support services for resident who are seeking to return to work the work place. The project continLJes lo make a significant impact with over 140 residents undertaking training. Also during the year Talking To Our Babies continued to deliver a range of programs online and face to face. 120 parents completed tralning which included Makaton Level 1, Child Protection Training. First Aid and Speech and Language. 381 parents and 400 children participated in a range of activities including Baby Sensory, Coochie Coo, and Mini Professors with 272 parents r8c8iving supports.
WATERSIDE NEIGHBOURHOOD PARTNERSHIP TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The Excite Proj8Gt also conlinu8d onlin8 delivèry classes to actively engage wlth, In particular, their younger users through the use of creative t8chnologies vla a variety of media platforms that developed skills, knowledg8 and confidence In young people outside or in addition to the school syst8m. During the year 15 local groups and 10 schools were supported and 84 young p8ople participated in IT programmes. The Waterside Health Forum is made up of community representatlV8s from each of the Waterside Neighbourhood Renewal sub-ar88s, WHSCT, The Hive, NHIP and Older People North West. The group has engaged at a neighbourhood 18vel to identify health priorltles and lo develop a health action plan and deliver a range of health programmes both area-wide and at neighbourhood level. 825 local people participated in a range of programmes including Zumba, March the Month Slep Challenge, Maternal Mental Health event, Motivation May Physical Activity PHA provided us with funding £5000 which we used to promote the importance of physical activity. MiThling Mum malernal mental health project Continued during Ihe year. 220 pregnant mums and mums with babies up to one year participated in range of programmps supporting positive mental health. It should be noted that Watérside Neighbcurhood Partnership Board, members of which are also represented on the relevant Subgroups, have all slgned up to and abide by a Neighbourhood Renewal Code of Pr8ctsc8 and Guiding Principles. As detailed above this area suffers from serious levels of deprivation and under-investment and as a consequence requires major investrnent and support lo make positive changes to the Walerside Area. Financlal review Totsl income for the year was £747,417, of which £747,149 was generated from grant funding of prTr3rammes and the balance represents int8rest recelved on amounts held in deposit accounts. Total expenditure by the charity Was £724,017. which was incurred undertaking actlvltles that further our charitable aims for the benefit of our ben8ficiari8S. The balance on total funds at the year-end was £128,851, of which £73,534 were unrestrict8d, and £55.317 were reslrlcted. Res&e$ policy It is the policy of th8 charity that unrestricted funds which have not been designat8d for a specrfic use should be maintained al a level equivalenl to between three and six month's expenditure. The trustees consider that rèserves at this level will ensure that, in the 8vent of a signrficanl drop in funding, they wlll be able lo continue the charity's current activities whi18 consideration is given to ways in which addilional funds may be raised. This level of reseeS has been maintained throughout the year. The Twstees have examined the charity's requiremenls for reserves considerlng the main risks lo the organisation and established a formal policy which stipulates that free resee$ be maintained at a level which ensures that th8 charity's core activity could continue during a period of unforeseen difficulty. Free resèrvès are defined by the Trustees as unrestricted income funds freely available for use as th8 charity so determines and thereby ex¢ludes any funds committed, invested in tangibl8 fixed assets held by the charity and reslriGted or designated funds. 11 is the policy of the charity that unrestricted funds which have not been designated for a specific use should be malntained at a level equivalent to between Ihree and six month's 8xpèndilure. The Trustees conslder that reserves at this level will ensure that, in the 8V8nt 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 funds may be raised. Based on curr8nt staff costs and flxed overheads, the Trustees, assessment of the tsrget level reserves for 3 months costs is £50,000. Free resetves of the charity as al 31st March 2025 arè £61,308 Inole 16>, therefore the Trustees are pleased to confimi that the charity is compliant with its serveS policy. The Trustees ¢ontinue to strive to maintain a general level of reserves in accordance with their policy so that they will be abre to continue the CLJrrent activities of the charity.
WATERSIDE NEIGHBOURHOOD PARTNERSHIP TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Major risks The Trustees, in conjun¢tion with the senior management team, are aware of the major risks to which the charity is exposed. Where appropriate, systems or proc8dures have been estsblished to mitigate the risks the charity facès. Internal control risks are minimised through the procedures for authorisation of all transactions and projects. Procedures are in plac8 to ensure compliance with applicable laws and r8gulations. All procedures are periodically revlewed to ensure Ihat they continue to meet the ne6ds of the charity. Structure. governance and management Goveming Document Waterside Neighbourhood Partnership is a company limited by guarantee and ac¢epted as charitab18 by Charity Commission for Nl under refence NIC101469. The company was incorporated on 17th January 2008. The company was established under 8 Memorandum of Association which establlshed the objects and powers of the company, and is governed by ils Articles ofAssocialion. The liabilty of members is limiled in Ih8t every member of the company undertakes to contribute an amount not exceeding £1 in the event of the company being wound up. The trustees, who are also the directors for the purwse of company law, and who served during the year and up io the date of signature of th8 financial statements wore- Ms G Doherty Ms L Donnell Mr D Mcclay Mrs H Mcclintock Ms C McLaughlln Ms L Watson R8cruitment and appointmont of truslees The present board of directors was approved by the membership at their Annual General Meetlng. They meet bimonthly in the Shared Future Centre and 8valuate the operations and finances of the organisalion. The Board of Trustees manages the proc8ss of recruitment and appolntment of Trustees, and may admit to rnembership any person interested in promoting the objects (primary purposel of the charity. A member may withdraw from the company by giving notlce to the Charity. Waterside Neighbourhood P8rtner8hip und8rtak8s an annual skills audlt among Trustees in order to identify any knowledge andlor skills gaps within ils membershlp. These skills are speciflc lo the strategic and operational nature of the organisation. Th8 charity will undertake regular Trustee recruitment driv8S to achieve balance and with a view to proactlve succession planning. Organis8tional stnicturg Th8 Board of Trustees has overall legal responsibility for the charity. Th8 day-to-day operations and decision maklng contlnue lo be delegated to a Senior Management T8am, led by Strategy Manager Allson Wallace, who report directly to the Board. There ar8 robust reporting structures in place throughout the organi5alion. The Senior Management Team is mad8 up as follows.. Alison Wallace - Strategy Manager JaniceAustin- Finan¢e &Admin Cowordinator Induction end training of tnjstees After being formally appointed, all new trustees are provid8d with a Tnjslees. Handbook and undertake an induction process. This includes an orientation brièfing of their legal obligalions under charity and company18W, the content of the M8morandum and Articles of Association. the committee and decision-making proc@SS8s of the charity, the annual budget, the strategic plan and the most current financial information contained within the Annual Rei)ort and A¢¢ounts. Fomiing part of their induction, new trustees meet wilh the individual members of the Senior Management Team and other key employees within the charity to learn more about each projèct and their roles and responslbillties. Trustees are encouraged to attend appropriate extemal training events where these will facilitate and further support the undertaking of th8 rol8.
WATERSIDE NEIGHBOURHOOD PARTNERSHIP TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Relationship with relatedparties None of the trust8es receiva remuner81ion or other benefit from their work with the charity. Any connection between a trustee or senior manager of the ¢harily with a contracted supplier must be disclos8d to the full Board of Trustees in the same way as any other contradual relationship with a related party. In th8 curr8nt year, no such r8lated party transactions were r8POrt8d. Statement of trustees. responsibilities The truste&s, who are also thé dire¢tors of Waterside Neighbourhood Partnership for the purpose of company law, are responsible for pr8paring the Trustees, Report and the financial slatemenls in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepled Accounting Practicé). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the stale of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the Charitsble company for that year. In preparlng these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistenlly; - observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent.. stste whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial ststements- and prepare the financial ststemenls on th8 going concern basis unless it is inappropriale to presume that the charity will continue in operation. The Irustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the ¢harity and hence for taking reasonable steps for the preventlon and detection of fraud and other irregularities. Auditor In accordanc8 with th& company's articles, a resolution proposing that Moore {NII LLP be reappolnled as audltor of the company will be put at a General me@ting. Disclosure of infomiation to auditor Each of th8 Irustaes has confirmed that there is no information ol whlch they are aware whlch Is relevant to the audiL but of which the auditor Is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the audrtor is aware of such infomiation. The trustees, report was approved by the Board of Trustees. Ms G Doherty Trustee Ms C McLaughlin Trustee 30 January 2026
WATERSIDE NEIGHBOURHOOD PARTNERSHIP INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WATERSIDE NEIGHBOURHOOD PARTNERSHIP Opinion We have audited the financial statements of Waterside Neighbourhood Partnership (the 'charity'} for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet. the slalement of cash flows and notes lo the financial statements, including significant accounting policies. The financial reporting framework thal has been applied in their preparation is applicable law and United Kingdorn Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in (he UK and Republic of ireland (United Kingdom Generally Accepted Accounting Practice}. In our opinion. the financial statements- give a true and fair view of the slate of the charitable CoMpanS affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expendilure. for the year then have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for oplnlon We conducted our audit in accordance with International Stsndards on Auditing IUKI IISAS IUKI) and applicable law. Our responsibilities under thos8 standards ar8 further described in the Auditor's responsibilitl8s for the audit of the financial stat8in8nts section of our report. We are independent of the charity in accordance with th6 ethical requirements that are relevant to our audit of the financial ststements in the UK, including the FRC'S Ethical standard, and we have fulfilled our other ethical r&sponsibilities in a¢¢ordancg Wlth these requirgments. Wg believe that the audit evidence we have oblained is sufficient and appropriate to provid8 a basis for our opinion. Conclusions relatlng to golng concern In auditing the financial statements, we have conduded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not Identified any material uncertainties relating to events or conditions that, indlvldually or collectively. may cast significant doubt on the charity's ability lo continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibililies and the réspon5ibilities of the trustees with respect to going concern are described in the relevant seclions of this report. Other infomiation The other information comprises the information included in the annual report other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thèreon. Our responsibility is to read the other information and, in doing so, consider whether the oth8r information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audil, or otherwise appears to be materially misslaled. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed. we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on othor matters prescribed by tho Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit.. the Infomiation given in the trustees, report for the financial year for which the financial statements are prepared, which includes the dire¢tors' report prepared for Ihe purposes of company law, is consistent with the financial slatemenls; and the directors, report included wlthln the trustees, report has been ppared in accordance with applicable legal requlrements.
WATERSIDE NEIGHBOURHOOD PARTNERSHIP INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF WATERSIDE NEIGHBOURHOOD PARTNERSHIP Matters on which we are required lo report by exception In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have nol identified material misstatements in the directors. report included within the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting CordS have not been kept. or retums adequate for our audit have not been received from branches not visited by us,. or the financial statements are nol in agreement with the accounting record5 and returns- or certain disclosures of trustees, remuneration specified by law are not made., or we have not r8C8ived all the inform3tlDn and explanations we require for our audit., or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies. exemptions in preparing the trustees, report and from the requirement to prepare a 51ralegic report. Responslbilltles of trustees As explained more fully in the statement of truslees. r8sponsibilitl8s, the trust8es. who are also th8 directors of the Gharity for the purpose of company law, are responsible for the preparation of the financial statements and for being salisfied that they giv8 a true and fair view, and for such internal control as the truslees delermine is necessary lo enable the preparation of financial statements that are free from material misstatement. whelher due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing. as applicable, matters related to going concern and using the going concem basis of accounting un18SS the trustees either intend lo liquidat8 lh8 charitable company or to C8as8 operations. or have no realistic alternative but to do so. Auditorfs responsibilities for the audit of the financial statements Our objectives are to oblain r8asonab18 assuranc6 about whethér the financial st8lem8nts as a whole are free from material misstatement, whelher due to fraud or error, and to issue an auditor's report that Includes our opinion. Reasonable assurance Is a high level of assurance but is not a guarantee that an audit conducted in accordan with ISAS (UK) will always delect a material misstatement when it exists. Misstatements can arise from fraud or error 8nd are considered material if, individually or in the aggregate, they could reasonably be expected to influence th8 economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of d8tècting Iegular1ties, including fraud, is detailed below. Extent to which th8 audit was consldered capabla of detoctlng Irrogularlllas. Includlng fraud The objective5 of our audit in respect of fraud, are- to identity and assess the risks of material misslatement of the financial statement5 due to fraud,. to obtain sufficient appropriate audit evidence regarding the assess8d risks of material misstatement due to traud, 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 understanding of the charitable company and its operating environmenl, we determined that the mosl significant frameworks which have a direct impact on the preparation of the financial statements are those related to the reporting fratnework. (FRS 102, the Charities Act (Northern Ireland) 2008, The Charities (Accounts and Reports) Regulations {Northern Ireland) 2015, the Charity SORP and the Companies Acl 20061. 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 material effect on the financial ststemenls. We assessed the susceptibility of the ¢haritable companls financial slalemenls to material misstatement, including how fraud might occur, including evaluating management's incentives and opportunilies lo manage eamings or influence the reported results. From the r8suIts of our assessment, w8 d8t8rmin8d that th& principal risks of fraud relate to posting inappropriate journal entries and use of charity funds for purposes outside of restrictions imposed by the donor. In common wlth all audlts under ISAS (UK). we a required to perform specific procedures to respond to the risk of management override.
WATERSIDE NEIGHBOURHOOD PARTNERSHIP INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF WATERSIDE NEIGHBOURHOOD PARTNERSHIP Audit response to risks Identlfled As part of an audit in accordance with ISAS (UK) we exercise professional judgement and maintain professional spIllS throughout the aLJdit. Audit procedures perfomied by the engagement team included.. We obtained an understanding of the charitable companrfs internal control syslems in order to design audit procedures that are appropriate in the circumstsnces, but not for the purposes of expressing an opinion on the effectiveness of the charitable company's intemal 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 rnanagement and those charged with governance. Enquiry of management, those charged with govemance 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. Perfomiing analytical procedures lo identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud Reviewing minutes of meetings of Ihose charged with governance Reviewing financial statement disclosures and testlng to supporting do¢umentatlon to assess compllance with applicable laws and regulations. We test the completeness of income to address the risk of fraud in relation to revenue recnition Auditing th8 risk of management override of controls, including through testing journal entries and other adjustments for approprlateness, and evaluallng the buslness rationale of signlflcanl Iransa¢tlons that are unusual or outside the nomial course of business. Auditing th8 risk of use of charity funds outside of restrictions imposed by the donor by review of funding letters of off8r lo id8ntify r8slrlctions, and raview of funding claims prepared by management to cCk compliance with restridions. We communicated relevant laws and regulations and potential fraud risks to 811 eng8gement team members, 8nd remained alert to any indications of fraud or non-compliance with laws and regulatlons throughout th8 audit. There arè inher8nt limilations in the audit procedures described above and the further removed non-complian with laws and regulations is from the av8nts and transactlons reflected In the financial slatemenls, the less Ilkely wè would become aware of it. Also, the risk of not delecling a malerial misstatement due to fraud is higher than the risk of nol detecting one resulting from error, as fraud may involve deliberate concealment through collusion, forgery, intentional omissions, misrepresentations or thè ovèrride of internal control. A further descriptlon of our responsibilities is available on the Financial Reporting Council's website at: https'.11 www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report. Use of our report This report is made solèly to the charitable company's members, 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 state to the charitable compantys members those matters we are required to state to them in an auditor's report and for no other purpose. To the full8St extenl permitted by law, we do not accept or assume responsibility tD anyone other than the charitable cornpany and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. ohn Bradley (Senior Statu ory Auditor) For and on behalf of Moore (NII LLP, Statutory Auditor Chartered Accountants 21-23 Clarendon Street Derry-Londondery BT48 7EP
WATERSIDE NEIGHBOURHOOD PARTNERSHIP STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Current flnan¢ial year Unrestricted funds 2025 Restricted funds 2025 Total Total 2025 2024 Notes Income from.. Charitable activities Investments 747,149 747.149 268 579,610 249 268 Total income 268 747,149 747,417 579,859 Expènditure on: Charitable adivities 13,919 710.098 724,017 584.241 Total expènditure 13,919 710,098 724,017 584.241 Net In¢omel(•xpenditure) (13.6511 37,051 23.400 {4,382) Transfers betsveen funds 18 5,403 {5,403) Net movement in funds (8,248) 31.648 23,400 (4.382) Reconcilialion of funds: Fund balan¢es at 1 April 2024 81,782 23.669 105,451 109,833 Fund balancos at 31 March 2025 73.534 55,317 128,851 105,451 The statement of financial activities includes all gains and lossès recognised in the year. All income and expenditur8 derive from continuing actlvltlas.
WATERSIDE NEIGHBOURHOOD PARTNERSHIP STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Prior financial year Unrestrfcted funds 2024 Restrl¢ted funds 2024 Total 2024 Notes In¢ome from: Charitable activit18S Investménts 579.610 579.610 249 249 Total income 249 579,610 579,859 Exponditure on: Charitable activlties 4,797 579,444 584.241 Total oxponditure 4,797 579,444 584,241 Net Incomel(expenditurel 14,548) 166 (4,382} Transfers between funds 18 20,088 (20,088> Net movement in funds 15,540 {19,9221 (4,382) Reconeilialion of funds.. Fund balances at 1 April 2023 66,242 27,713 109.833 Fund balances at 31 March 2024 81,782 23,669 105.451 10-
WATERSIDE NEIGHBOURHOOD PARTNERSHIP BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets 11 12.226 11.695 Current assets Debtors Cash at bank and in hand 12 51,808 79,770 53.792 48,390 131,578 102,182 Creditors: amounts falling due within one year 13 (14,953) 18.426) Net current assets 116,625 93.756 Totsl assets less current liabilities 128,851 105.451 The funds of the charity Restricted income funds Unrestricted funds 15 16 55,317 73,534 23,669 81,782 128,851 105,451 These financial slalements have been prepared in accordance with the provisions applicable lo companies subject to the small companies regime. The financial ststements were approved by the trustees on 30 January 2026 Ms G Doherty Trustee s C McLaughlin Trustee Company r8gistratlon numbér N1067770 (Northern Ireland) 11
WATERSIDE NEIGHBOURHOOD PARTNERSHIP STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operatlng actlvltles Cash generated from operations 22 33,002 9,890 Investing activities Purchase of tangible fixed assets Investment income received (1.890} 268 (1.949) 249 Net cash used In Investlng activttles (1,622) (1,700} Net cash generated from financing activities Net increase in cash and cash equivalents 31.380 8,190 Cash and cash equivalents at beginning of year 48.390 40,200 Cash and cash equivalents at end of year 79.770 48,390 12-
WATERSIDE NEIGHBOURHOOD PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcles Charity infomiation Waterside Neighbourhood Partnership is a private company limited by guarantee incorporated in Northern Ireland. The registered office is Shared Future Centre. Cityview Park. Irish Street. Londonderry. BT47 2DB. 1.1 Basis of preparation The financial statements have been prepared in accordance with the CharItS goveming document. the Companies Act 2006, FRS 102 The Finan(xal Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Ststement of Recommended Practi applicable to charities prepartng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021" The charity Is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is Ihe functional currency of the ¢harity. Monetary amounts in these financial statèrnents are rounded to the nearest £. The financial statements have been prepared under th8 historical cost convention. The principal accounting policies adopted 8re set out below. 1.2 Golng concern At the time of approving ihe financial statements, the Iruste8s havé a reasonable expectalion that the charlty has adequate resources to continu8 in operalional existence for the foreseeable future. Thus the trustees continue to adopt thè going concern basis of accounting in preparing the financial statements. 1.3 Charllabla funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable obj8Ctives. Restricted funds are subject to specific conditions by donors or grantors as to how Ihey may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donor5 that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless perfomanc8 conditions require deferral of the amount. Income tax recoverable in relation to donations r8C8ived under Gift Aid or deeds of ¢ovenant is recognised at the time of the donation. Legacies are rQgnISed on receipl or otherwise if the charity h8s been notified of an Impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 13-
WATERSIDE NEIGHBOURHOOD PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) 1.5 Expendlture Expendiiure is recognised once there is a legal or constructive obligalion to transfer economic benefit to a third party, it is probable that a Iransfer of economic benefits will be required in settlement. and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a sing activity are allocated directly to that activity. Shared costs which contribute to more than one activty and support costs which are not attributable to a single activity are apportioned betsveen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Tanglble flxed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation. net of depreciation and any impairmenl losses. Depreciation is recognis8d so as to writ8 off th8 Cost or valuation of assets18ss their residual values over their useful lives on the fr)Ilowing bases: Fixtures and fittings 10 % straight line The gain or loss arising on the disposal of an asset is detemiined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Impalrment of flxed assets At each reporting end date, the charity reviews the carying amounts of its tangible assets lo determine wh8th8r there is any indication that Ihose 8ss8ts hav8 suffer8d an impaiment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairm8nt loss (if any). 1.8 Cash and eash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-tenn liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in currenl liabilities. 1.9 Finan¢lal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Inslruments Issues. of FRS 102 to all of its financial instruments. Finanual instruments are recognised in the charitvs balance sheet when the charity becomes paty to the contractual provisions of the instrument. Finan(i81 assets and liabiltties are offset. with the net amounts presented in the financial ststements. when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include d8btors and cash and bank balances, are initially measured at transaction price including transaGtion CA)Sts and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transactlon. where the transactlon is measured at the present value of thè future r8ceipts dlscounted at a market rate of interest. Financial assets classified as r8c8ivabl8 Wlthin one year are not amortised. 14-
WATERSIDE NEIGHBOURHOOD PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) Basic financlal liabilities Basic financial liabilities. including creditors and bank loans are initially recognised at transaclion pri unless the arrangement constitutes a financing transaction. where the debt instrument is measured at the present value of the future payments discounted al a market rate of inlerest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary Gourse of operations from suppliers. Amounts payable are classified as current liabilities rf payment is due within one year or less. If not. they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognltlon of financial liabilities Financial liabiliti8s are d8recognis8d when th8 charity's contractual obligations expir8 or ar8 discharged or cancelled. 1.10 Employee benefrts The cost of any unused holiday entitlement is recognised in the period in which the employee's services ar8 received. Terrnination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employ86 or to provide termination ben8fits. 1.11 Retirement benefits Payments lo defined contribution retirement benefit schemes are charged as an expense as they fall due. Critical accounting estimates and Judgements In the application of the charity's accounting wjlicies, the trustees are required to make judgements. estimates and assumptions about the carrying amount of assets and liabilities Ihat are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. Income from charitable actlvltles Restricted funds 2025 Restrlcted funds 2024 Charltsble acllvltles Grant funding 747,149 579,610 Detailed analysis of gr8nt funding received is provided at note 15. 15-
WATERSIDE NEIGHBOURHOOD PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from investments Unrestrlcled Unrestricted funds funds 2025 2024 Interest receivab18 268 249 Expenditure on charitable actlvltles Charitable activities Charltable activltles 2024 2025 Direct ¢osts staff Gosts Depreciation and impairment Workshop & Programme costs Rent & utility Gosts Office costs Property maintenance costs Travel expenses General direct charilable costs 304,917 1,359 383.578 18.779 379 241.439 2.145 308.527 19.429 866 370 747 259 764 5,321 715,097 573,782 Share of support and governance costs Isee note 6) SuptM)rt 8.920 10.459 724.017 584.241 Analysls by fund Unrestricted funds Restricted funds 13.919 710,098 4.797 579,444 724,017 584,241 16-
WATERSIDE NEIGHBOURHOOD PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs allocated to actlvitles Charltable activities 2025 Total 2024 Insuran Bank chargès General support costs Governance 3.008 192 1,320 4,41)0 2,643 156 1,840 5,820 8,920 10,459 2025 2024 Governance costs comprise: Audit fees Accountancy 4,400 4.200 1,620 4,400 5,820 Net movement in funds 2025 2024 The net movement in funds Is stated after charglngllcredftlng)- Fees payable for the audit of the charity's financial statements Depreciation of owned tangible fixed ass81s 4,400 1,359 4,200 2,145 Trustees None of the trustees {or any persons connected with them) reIved any remuneration or benefits from the charity during the year. Employees Th8 average monthly number of employees during the year was- 2025 Number 2024 Number Administration 12 10 17-
WATERSIDE NEIGHBOURHOOD PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Employees (Continued) Empl¢yment costs 2025 2024 Wages and salaries Social security cosls Other pension costs 278,065 19.53S 7,317 220,322 18,411 2,706 304,917 241.439 There were no 8mploy88s whose annual remuneratlon was more than £60,000. Remuneration of key management personnel The remuneration of k8y management personnel was as follows.. 2025 2024 Aggregate compensation 66,741 63,478 10 Taxatlon The charity is exempt from taxation on its activities because all its income is applied for charilable purposes. 11 Tangible fixed assets Fixturo¥ and flttlngs Cost At 1 April 2024 Additions 38,141 1,890 At 31 March 2025 40,031 Depreclation and impairment At 1 April 2024 Depreciatlon charged in the year 26,446 1,359 At 31 March 2025 27,805 Carrying amount At 31 March 2025 12.226 At 31 March 2024 11.695 18-
WATERSIDE NEIGHBOURHOOD PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Restricted funds The restrfcted funds of the charity comprise the unexp8nded balances of donations and grants held on trust subject to specific Conditions by donors as to how they may be used. At 1 April 2024 Incoming resources Resources expended Transfers At 31 March 2025 Department for Communities- Strengthening Future5 Department for Communities Big Lottery- Minding Mum sUe$s NW Derry City & Strabane District Council WHSCT- NHIP Depl for Communities- Talking To Our Babies Department for Foreign Affairs Arts Council Northern Ireland Derry Healthy Cities Extended Schools Lottery Funds - Awards forAII Peace Plus - Waterside Together Prolact Healthy Living Alliance Shared Island Funding Other Rastricled Funds 145.146 122,477 84,760 132,514 {139,4911 (112.0321 (93,937) (132,514) (5,6551 1,864 14,415 12.309 5.238 133,793 29,197 (127,661} {30.325> 62 6.194 1,308 2,436 23,819 {23.8191 (985) {4,474} (5,3531 {9.0331 (305) 985 3.969 505 5,353 12.495 15.050 3.462 14.745 21.840 7.301 6,903 5,996 114,601) (4.665) 16,400) {4,5031 7,239 2,636 503 1,683 190 23,669 747,149 (710,098) (5,403) 55.317 -20-
WATERSIDE NEIGHBOURHOOD PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Restricted funds {Continued} PViouS year: At 1 April 2023 Incoming resources Resources expended Transfers At 31 March 2024 Department for Communities- Strengthening Futures Department for Communities Big Lo118ry- Minding Mum Success NW Derry City & Strabane District Council WHSCT_ NHIP Dept for Communities - Talking To Our Babies Department for Foreign Affairs Arts Council Northern Ireland Dery Healthy Cities Exiended Schools Skills 20120 Other restricted funds 134,794 97,564 93,594 100.178 1121,998) {97,490) {97,622) (100,178) (12,796) 1,790 18,443 1,864 14,415 61,882 29,327 (57,118} (26.8911 {4,764> 2,436 22.029 {22,029) {17.486) {4,126) (1,231) (4,057> 17.5301 (21.6881 18.471 4,190 985 3.969 3,905 1,231 4,057 9,858 21,191 12,328) {200) 697 43,591 579.610 {579,444) (20,088) 23,669 21
WATERSIDE NEIGHBOURHOOD PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Restrtcted funds (Contlnued) Department for Communltles - Strengthenlng Futures This fijnding is for the personal development and employability for young people. Department for Communitios DFC provides funding for running costs and salaries. Big Lottery- Minding Mum Minding Mum is a maternal menial health programme for pregnant mums and mums with babies up to one year. Success NW Success NW is an employability programme largeting the economically inactive. Derry Clty & Strabane Distrlct Councll DCSDC fund Waterside Neighbourhood Partnership to deliver the Consensual Grant Making Process in the Waterside. WHSCT- NHIP NHIP Is our Neighbourhood Health Improvement Programm8. Departmont for Communitle5 - Talklng to Our Bables Talk to our Babies is an early language development programme. Extended Schools Extended Schools programme funded our Summer SGheme for children who are neuro-diverse. Lottery Funds Awards for All This funding is for a podcast development programm8. Peace Plus - Waterside Together Project This fundin9 is for the delivery of events and programmes throughout the Waterside to promots thè movement of people and promote the use of shared space. 16 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specrfic purposes. At 1 April 2024 Incoming resources Resources expended Transfers Al 31 March 2025 General funds 81,782 268 {13,919) 5,403 73,534 Previous year: At 1 Aprll 2023 Incoming resources Resources expended Transfers At 31 March 2024 General funds 66,242 249 14,797) 20.088 81.782 -22-
WATERSIDE NEIGHBOURHOOD PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Analysls of net assets b8tW8èn funds Unrestrfcled funds 2025 Restricted funds 2025 Total 2025 At 31 March 2025: Tangible assets Current assetsl(liabilities) 12,226 61,308 12,226 116,625 55,317 73,534 55,317 128,851 Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 31 March 2024: Tangible assets Current assetsl(liabilities) 11.695 70.087 11,695 93,756 23,669 81,782 23,669 105,451 18 Transfers betrieen fund$ There has bèen net transfers be68n funds of £5,403 (2024.. £20,088} from restricted funds to unrestricted general funds which répresents general core funding allowed by funders which is being released to g8neral funds. 19 Financlal commitm9nts, guaranteos and contingent Ilabllltles Certain grants received and receivable may become repayable to the funder if th8 charity is no longer able lo meet the conditions under which they were awarded. Du8 to the natLJre of these contlngencies. it may not be possible to quantify the potential financial effect or give an indication of the timing as lo the liabilities that may arise. 20 Events after the reportlng date There hav8 b88n no significant events affecting the ¢haritable company since the reporting dat8. 21 Related party transactlons There w8r8 no disclosable related party transactions during thé year (2024- none}. -23-
WATERSIDE NEIGHBOURHOOD PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 22 Cash generated from operations 2025 2024 Surplusl(d8ficit} for the year 23,400 (4,382) Adjustments for: Investment income recognised in statement of financial activili85 Depreciation and impairmenl of langible fixed assets (268) 1,359 {249} 2,145 Movements in worklng rApItsI: Decrease in debtors Increase in creditors 1,984 6,527 10,803 1,573 Cash generated from operations 33,002 9.890 23 Analysls ot Changes In net funds The charity had no material debt during Ihe year. -24-