Willowbank Limited (Charitable Company Llmlted by Guarantee) DIREcfoRS' REPORT for the ear ended 31 March 2023 The directors, who are the trustees for the purpose of charity law, have the pleasure in presenting their Report and the Financial Statements of the charitable company for the year ended 31 March 2023. The financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting and Reporting by Charities" IFRS 1021, United Kingdom Generally Accepted Accounting Practice and the Companies Act 2006. Reference and Administration Details The reference and administration details of the charitable company are as shown on page 2. Objectives and Activities Willowbank Limited exists to work in partnership with persons with disabilities to provide a supportive and empowering environment. Within a community development ethos, we will support people in overcoming and removing barriers to inclusion. We will enable people through provision of appropriate training and learning to maximise their potential as citizens. This is effective through: The delivery of a range of dirett care services. Support services and day opportunities to people with disabilities; Using a participative methodology, the service5 delivered are shaped by people who are the end service users. Individuals are supported through provision of pre-vocational and vocational training in 3 range of subject areas that seek to build confidence and capacity to maximise their individual and group potential; Providing support to enable people with disabilities to engage a range of recreationa5 and social opportunities; supporting engagement with the wider community; fostering partnerships with colleagues in the community, public and private sector; and Facilitating the interface with elected representatives, planner5 and commissioners of seNices to ensure that the rights of disabled people as citizens are upheld. Public Benefit Statement The director5 of Willowbank Limited confirm that they have cornplied with their duty under 5ertion 4161 of the Charities Act INorthern Ireland) 2008 to have regard to the Charity Commission for Northern Ireland's guidance on public benefit and that the public benefit requirement has informed the activities of the charitable company in the year ended 31 March 2023. Achievements and Performance The directors are confidentthat the charitable company continues to meet its performance objectives to benefit the local community. The charitable company continues to receive funding from local bodies.
Willowbank Limited (Charitable Company Limited by Guarantee) DIREcfoRS' REPORT for the ear ended 31 March 2023 continued Financial Review Finonciol Performonce The results for the year are set out in detail on pages 7 to 17. The charitable company returned net incoming resources for the year of £17,30512022: net outgoing resources of £411}. At 31 March 2023, the total funds of the charity amounted to £130,36412022: £113,059) comprising restricted funds of £18,575 12022.. £13,182) and unrestricted funds of £111,789 12022: £99,877). Principle sources of funding and how this has supported the key objettives of the charitable company are disclosed in the notes to the financial statements. Reserve5 Policy The charitable company does not maintain a formal reserves policy however the board of directors continue to monitor the level of reserves held by the charitable company and are actively taking steps to increase the reseNes in orderto meet any unforeseen expenditure incurred. Structure, Governance and Management Oryanisotional Structure The charitable company is a company limited by guarantee, not having a share capital. The charitable company was established under a Memorandum of Association which establish the objects and powers of the charitable company and is governed under its Articles of Association. In accordance with the Articles of Association, the members to retire by rotation shall be those who have been longest in office since their13St election, and the relevant motion will be put at the Annual General Meeting. A retiring member shall be eligible for re-election. Any person wishing to become a direttor must apply in writing prior to the Annual General Meeting. A vote is then taken at the Annual General Meeting as to whether that person is appointed. Dirertors The directors during the year are the same as the directors listed on page 2. Taxation Status The charitable company is recognised as a charity by HM Revenue & Customs. Accordingly, the charitable company has availed of the exemptions contained in Chapter 3 Part 11 Corporation Taxes Act 2010 and Section 256 Taxation of Chargeable Gains Act 1992. Directors, Responsibilities The directors are responsible for preparing the Directors, Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Prattice}.
Willowbank Limited (Charitable Cornpany Limited by Guarantee) DIRECTORS, REPORT ft>r the ear ended 31 March 2023 continued Company law requires the directors to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resource5 and application of resources, including the income and expenditure of the charitable company for that year. In preparing these financial statements, the directors are required to: select suitable accounting policies and apply them consistently. obseNe the methods and principles in the Charities SORP IFRS102); 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 expla ined in the financial statements: and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the f inancial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Small Companles Exemptlon This report is prepared in accordance with the special provisions relating to small companies within Part IS of the Companies Act 2006. This report was approved by the Board of Directors on l March 2024 and signed on its behalf by: Reglstered Office: Willowbank Community Resource Centre Carland Road Dungannon Co Tyrone BT714AA Catherine Mccrory Director Com Chari an i5tration Number: N1018259 istration Number: 101844 Re