North Belfast
Women's
I nitiative &
Support Project
Annual Report & Unaudited
Financial Statements for year ended
28th February 2023

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FINANCIAL STATEMENTS 15 Jan 2024
NORTH BELFASTWOMEN'S INTIATIVE and SUPPORT PROJEcr
STATEMENT OF FINANCIALAcfiviTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 28, FEBRUAR Y2023
Notes:
Unrestricted
funds
Restricted
funds
Total
2023
Total
2022
Income from:
Donations & Legacies
Charitable activities
Social Economy
Total Income
277,331
277,331
6,550
283,881
228,759
14,887
243,646
6,550
6,550
277,331
enditure
Raising Funds
Charitable activities
Support & Governance Costs
Refurbishment Project
Social Economy
Total resources expended
220.121
18.914
220.121
18.914
194.063
23.119
239,035
239,035
217,182
Net outgoing resources
6.550
38.296
44,846
26,464
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and
expenditure account under the Companies Act 2006.

FINANCIAL STATEMENTS 15" Jan 2024
NORTH BELPAST WOMEN'S INTIATIVE and SUPPORT PROJECT
STA TEMENTOF FINANCIAL POSITION AS A T 28th FEBRUAR Y2023
2023
2022
Notes:
Fixed Assets
Fixtures & Fittings
io
3.662
5,162
Current Assets
Debtors and Prepayments
Cash at Bank and in Hand
li
5,626
92,262
49.980
Current Liabilities
12
Net current assets
Total assets less current
Income funds
Restricted funds
Unrestricted Funds in Reserve
49,855
43,827
49,855
3,070
The Trustees, acknowledge their responsibilities for ensuring that the charity keeps accounting records which
comply with section 386 of the Act and for preparing accounts which give a true and fair view of the state of
affairs of the company as at the end of the financial year and of its incoming resources and application of
resources, including its income and expenditure. for the financial year in accordance with the requirements of
sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to
accounts, so far as applicable to the Company.
These accounts have been prepared in actordance with the provisions applicable to companies subject to the
small companies, regime.
The accounts were approved by the Trustees on
14 a"
Mrs B Fisher. Chairprson & Holding Trustee
Mrs L Drumgoole, Chairprson & Holding Trustee

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FINANCIAL STATEMENTS 15 Jan 2024
NORTH BILPAST WOMIN'I IiifiATIVI and SUPPOAT PAOJfCT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28° FEBRUARY 2023
1.1 Accounting convention
The accounts have been prepared in accordance with the Charity's Memorandum and Articles of
Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended for
accounting periods commencingfrom l January 2016). The Charity is a Public Benefit Entity as defined
by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities applying FRS
102 Update Bulletin I not to prepare a Statement of Cash Flows.
The accounts are prepared in sterling, which is the functional currency of the Charity. Monetary
amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention. The principal accounting
policies adopted are set out below.
1.2 Going concern
th
At 28 February 2023 the charity had a surplus of assets over liabilities of £93,682. The trustees have
not disclosed in the financial statements any identified material uncertainties that may cast significant
doubt about the charity ability to continue to adoptthe goingconcern basis of accountingfor a period
of at least 12 months from the date the financial statements are authorised for issue.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their
charitable objectives unless the funds have been designated for other purposes.
Restricted funds are subjectto specific conditions by donors asto howthey may be used. The purposes
and uses of the restricted funds are set out in the notes to the accounts.
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 performance conditions require deferral of the amount. Income tax
recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the
time of the donation.
Legacies are recognised on receipt or otherwise if the Charity has 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.
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FINANCIAL STATEMENTS 15 Jan 2024
NORTH BILPAST WOMIN'S INTIATIVI and SUPPORT PROJICT
NOTESTO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28" FEBRUARY 2023
1.5 Expenditure
Expenditure is recognised on an accruals basis as a liability as incurred and is apportioned to the
appropriate cost centre.
1.6 Property, plant and equipment
Property, plant and equipment are initially measured at cost and subsequently measured at cost or
valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values
over their useful lives on the following bases:
Fixtures. fittings and equipment 20% reducing balance
The gain or10ss arising on the disposal of an asset is determined as the difference between the sale
proceeds and the carrying value of the asset, and is recognised in net income/lexpenditurel for the
year.
1.7 Impairment of non-current a55ets
At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to
determine whether there is any indication that those assets have suffered an impairment loss. If any
such indication exists, the recoverable amount of the asset is estimated in order to determine the
extent of the impairment loss lif any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term
liquid investments with original maturities of three months or less. and bank overdrafts. Bank
overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section
12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments.
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value. Basic financial assets include trade and other receivables and cash
and bank balances. Basic financial liabilities including trade and other payables where trade payables
are obligations to pay for goods or services that have been acquired on the ordinary course of
operations from suppliers.
1.10 Employee benefits
Where material. the cost of any unused holiday entitlement is recognised in the period in which the
employee's services are received. Termination benefits are recognised immediately as an expense
when the Charity is demonstrably committed to terminate the employment of an employee or to
provide termination benefits.
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FINANCIAL STATEMENTS 15 Jan 2024
NORTH BILPAST WOMIN'I IiifiATIVI and SUPPOAT PAOJfCT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28° FEBRUARY 2023
2 Critical accounting estimates and judgements
In the application of the Charity's accounting policies, the Trustees are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilitie5 that 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
accounti ng 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.
3 Donations and legacies
2023
2022
Donations and gifts
4 Charitable activities
2023
2022
Grants and awards
Social Economy income
227,331
228,759
283 881
243 646
Analysis by fund
Unrestricted funds
Restricted funds
6,550
227 331
283 881
4,227
239 419
243 646
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FINANCIAL STATEMENTS 15 Jan 2024
NORTH BELFASTWOMEN'S INTIATIVE and SUPPORT PROJEcr
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28" FEBRUARY 2023
Raising Funds
2023
2022
in
Fundraising, events and gifts
Charitable Activities
Staff Costs
Facil itators, Therapists & Tutors
Programme costs- Entrancesnransport
Programme costs- Materials/Equipment
Programme costs- Mgt/Admin
Staff and Volunteer Welfare
83.051
89,715
10.197
26.228
10,604
325
90,398
48,832
13,722
25,093
17,320
4,698
220.121
200,063
Share of support costs {see note 71
Share of governance costs (see note 71
17.869
20,910
Analysis by fund
Unrestricted funds
Restricted funds
239,035
6,908
170 036
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FINANCIAL STATEMENTS 15 Jan 2024
NORTH BELFASTWOMEN'S INTIATIVE and SUPPORT PROJEcr
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28" FEBRUARY 2023
Support Costs
Support
Costs
Governance
Costs
Total
2023
2022
Depreciation
Rent Payable
Light, Heat, Water
Repairs & Maintenance
Insurance
Health & Safety linc. PPEI
Advertising, Subscriptions
Telephone. Post, IT
Sundry Expenses
Off ice Supplies
Legal & Professional
Accountancy
Independent Examination
Bank Charges
Trustee Meeting Expenses
1.500
1,800
3,882
5.197
1.648
1.500
1,800
3,882
5.197
1.648
1,290
1,200
6,751
6,663
1,669
1,148
836
2,183
822
836
2,183
822
808
1,381
600
445
600
445
600
435
1,174
17,869
1,045
18,914
23,119
Trustees
None of the Trustees (or any persons connected with them) received any remuneration
or benefits from the Charity during the year.
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FINANCIAL STATEMENTS 15 Jan 2024
NORTH BELFAST WOMEN'S INTIATIVE and SUPPORT PROJEcr
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28" FEBRUARY 2023
9. Employees
Number of employees
The average monthly number employees during the year was:
2023
Number
2022
Number
Project Manager
Project Admin/Finance Co-ordinators
Education Co-ordinator
Mentors
Employment cost5
2023
2022
Wages and salaries
Social security costs
68,644
72,088
86.928
90,398
There were no employees whose annual remuneration was £60,000 or more.
10. Fixed Assets
Fixtures & Fittings at 28th Feb 2022
4Depreciation charge for the year
Additions
5.162
{1,500)
Fixtures & Fittings carried
3,662
11.Trade and Other Receivables
2023
2022
Amounts falling due within one year:
Receivables
Prepayments and accrued Income
3.746
3.746
2022
2022
12. Current Liabilitie5
Other Taxation & Social Security
Accruals and Deferred Income
612
1,629
587
1,629
2,242
2.216
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FINANCIAL STATEMENTS 15 Jan 2024
NORTH BELFASTWOMEN'S INTIATIVE and SUPPORT PROJEcr
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28" FEBRUARY 2023
13.Restricted Funds
The income funds of the charity include restricted funds comprising the following unexpended
balances of donations and grants held on trust for specific purposes:
Movement in Funds
Balance at
28" Feb 22
Incoming
Resources
Resources
Expended
Transfers
Balance at
28" Feb 22
Projert Staff Fund
Running Costs Funds
Social Economy
Programme Funds
14.965
{355)
3,070
28.208
6,550
283.881
Project Co-ordinator, Finance/Admin Officer, Education CcFordinator & Programme Mentor Fund -
Grant income from Department for Communities and GEMS is restricted to cover the cost of salaries
of the l FT Project Co-ordinator. I PT Finance/Admin Officer. l FT Education Co-ordinator and l FT
Programme Mentor.
Programmes Fund
various small grant income restricted to specific aims and Good Relations
outcomes within the Urban Village area.
Running Costs Fund - Grant income 'received from BCC was restricted to contribute towards the cost
of running and day to day delivery of project activities.
Social Economy Income- funds from room hire and OCN training programmes.
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