Company Registration Number.. N1018259 Charity Registration number: 101844 Willowbank Limited (Charitable Company Limited by Guarantee) Annual Report and Financial Statements for the year ended 31 March 2024
Willowbank Limited {Charitable Company Limited by Guarantee) CONTENTS Page General Information Directors, Report Independent Examinerfs Report Statement of Financlal Activities Statement of Financial Positlon Notes to the Financial Statements 9-17
Willowbank Limited {Charitable Company Limited by Guarantee) GENERAL INFORMATION Board of Directors Kenneth Ferguson Stephen McNeill Marion McKenna Catherine Mccrorv Marina Sloan (resigned 19 August 20241 Andrew Trotter (resigned 19 August 20241 Maggie Mccloskey lappointed 30 October 20241 Peter Donnelly lappointed 30 October 20241 Registered Office Willowbank Resource Centre Carland Road Dungannon Co Tyrone BT714AA Company Registratlon Number N1018259 Chartty Registration Number 101844 Independent Examiner Ruddell and Company Chartered Accountants and Re8lStered Auditors 16 Church Street Dungannon Co Tyrone BT716AB Solicitors PA Duffy & Co 5 7 Irish Street Dungannon Co Tyrone BT70 IJW Bankers Bank of Ireland 11 Market Street Magherafelt Co Londonderry BT45 6EE
Willowbank Limited (Charitable Company Limited by Guarantee) DIREcfoRS' REPORT For the ear ended 31 March 2024 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 2024. 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 effertive thmugh.. The delivery of a range of direct care services; Support services and day opportunities to people with disa bilities- Using a participative methodology, the services delivered are shaped by people who are the end service users,. Individuals are supported through provision of pre-vocational and vocational training in 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 recreational and social opportunities. supporting engagement with the wider community. fostering partnersh ips with colleagues in the community, pu blic and private sector. and Facilitating the interface with elected representatives, planners and commissioners of services to ensure that the rights of disabled pèople as citizens are upheld. Public Benefjt Statement The directors of Willowbank Limited confirm that they have complied with their duty under section 4161 of the Charities Act INorthern Ireland) 2008 to have regard to the Charity Commission for Northern Ireland's guidance on public bènefit and that the public benefit requirement has informed the activities of the charitable company in the year ended 31 March 2024. Achievements and Performante 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 (Charttable Company Limited by Guarantee) DIRECTORS, REPORT continued For the ear ended 31 March 2024 Financial Review Finoncial Performance 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 £21,92212023.' net incoming resources of £17,305). At 31 March 2024, the total funds of the charity amounted to £152,28612023: £130,364) comprising restricted funds of £1,21812023'. £18,575) and unrestricted funds of £151,068 12023: £111,789). Principle sources of funding and how this has supported the key objectives of the cha ritable company are disclosed in the notes to the financial statements. Reserves Poliry 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 reserves in order to meet any unforeseen expenditure incurred. Structure, Governance and Management Orgunisotional Structure The charitable compa ny is a company limtted by guara ntee, 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 their last 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 director5 during the year are the same as the directors listed on page 2. Tuxation Statu5 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 Iunited Kingdom Generally Accepted Accounting Practice).
Willowbank Limited {Charitable Company Limited by Guarantee DIRECTORS. REPORT continued For the ear ended 31 March 2024 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 resources 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. observe the methods and principles in the Charities SORP IFRS1021' make judgements and estimates that are reasonable and prudent,. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed a nd explained 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 fina ncia I position of the charitable company and enable them to ensure that the fin3ncial 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 Companies Exemption This report is prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. This report was approved by the Board of Directors on 20 December 2024 and signed on its behalf by.. Registered Office: Willowbank Resource Centre Carland Road Dungannon Co Tyrone BT714AA u, Catherine Mccrory Director Company Registration Number: N1018259 Charity Regtstration Number: 101844
Willowbank Limited (Charitable Company Llmlted by Guarantee} INDEPENDENT EXAMINER'S REPORT ON THE FINANCIAL STATEMENTS TO THE MEMBERS OF WILLOWBANK LIMITED I report on the accounts of the charity for the year ended 31 March 2024, which are set out on pages 2tol7. Respective Responsibilities of Charity Trustees and Examiner As the charity trustees you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland} 2008. It is my responsibility to.. examine the accounts under section 65 of the Charities Act; follow the procedures laid down in the general directions given by the Commission under section 6519)Ibl of the Charities Act; state whether particular matters have come to my attention. Basis of Independent Examinerfs Report I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general directions given by the Charity Commission for Northern Ireland under section 6519llbl of the Charities Act. My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts and seeking explanation from you as charity trustees concerning any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe.. that the accounting records were not kept in accordance with section 63 of the Charities Act; that the accounts do not accord with those accou nting records. that the accounts do not comply with the accounting requirements of the Charities Act; that there is further information needed for a proper understanding of the accounts to be reached. Independent Examiner's Statement I have completed my examination and have no concerns in respect of the matters111 to141 listed above and in connections with the following directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. 20 December 2024 Jonathan Ruddell For3nd on behalf of Ruddell and Company Chartered Accountants & Registered Auditors 16 Church Street Dungannon Co Tyrone BT716AB
Willowbank Limited (Charitable Company Limited by Guarantee) Company Registration Number: N1018259 Charity Registration Number: 101844 STATEMENT OF FINANCIAL ACTIVITIES includin an Income & Ex enditure Account For the ear ended 31 March 2024 Unrestricted Restritted Funds Funds Total Unrestricted Restricted Funds Funds Funds Total Funds 2024 2024 2024 2023 2023 2023 INCOME AND ENDOWMENTS Charitable Activities (Note 41 Other Trading Activities (Note 41 TOTAL INCOME AND ENDOWMENTS 104,986 26.474 131,460 59,222 164,208 26,474 190.682 112,524 28,805 141,329 75,077 187,601 28,805 216,406 59,222 75,077 RESOURCES EXPENDED Charitable Activities (Note 51 TOTAL RESOURCES EXPENDED 101,084 101,084 67,676 67,676 168,760 168,760 129,192 129,192 69,909 69,909 199,101 199,101 Net IncominglOutgoln8 Resources for the Year Transfers between Funds Balance Brought Forward Balance Carried Forward 30,376 8,903 111.789 151,068 -8,454 -8,3 18,575 1,218 21,922 12,137 -225 5,168 225 17,305 130,364 152,286 99,877 111,789 13,182 18,575 113,059 130,364 The above Statement of Financial Activities includes all information as required to be disclosed by the Companies Att 2006. All of the activities of the charitable company are classed as continuing. The Statement of Financial Activities includes all gains and losses recognised during the year. The notes on pages 9 to 17 form an integral part of the financial statements.
Willowbank Limited {Charitable Company Limited by Guarantee) Company Registration Number: N1018259 Charity Registration Number: 101844 STATEMENT OF FINANCIAL POSITION as at 31 March 2024 Note 2024 2023 FIXED ASSETS Tangible Assets 23,049 29,384 CURRENT ASSETS Receivables Cash and Cash equivalents 5,368 148,757 154,125 6,202 125,295 131,497 Payables: Amounts Falling Due Wlthin One Year io -24,888 -30,517 NET CURRENT ASSETS 129,237 100,980 NET ASSETS 152,286 130,364 REPRESENTED BY: Unrestricted Funds Restricted Funds 13 13 151,068 1,218 111,789 18,575 TOTAL FUNDS 13 152,286 130,364 The directors consider that the company is entitled to exception from the requirements to have an audit under the provisions of section 477 of the Companies Act 20061"The Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. The dirertors acknowledge their responsibilities for complying wtth the requirements of the Companies Att 2006 with respect to accounting records and the preparation of financial statements. The accounts have been prepared in accordance with the provisions applicable to companies subject to the sm311 companies, regime. The notes on pages 9 to 17 form an integral part of the financial statements. These financial statements were approved and authorised for issue by the Board of Directors on 20 December 2024 and signed for on their behalf by: Catherine Mccrory Director Kenneth Ferguson Director
Wtllowbank Limited (Charitable Company Llmlted by Guarantee) Company Registration Number: N1018259 Charity Registratlon number: 101844 NOTES TO THE FINANCIAL STATEMENTS For the ear ended 31 March 2024 I. GENERAL INFORMATION Willowbank Limited is a charitable company limited by guara ntee incorporated in Northern Ireland, within the United Kingdom. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charitable company. The address of the registered off ice is as shown on page 2. The charitable company constitutes a public benefit entity as defined by FRS 102. 2. ACCOUNTING POLICIES The following accounting policies, as outlined below, have been applied consistently in dealing with items in relation to the charitable compa ny's financial statements. 2.1 Statement of Compliunce The financial statements have been prepared in accordance with Accounting and Reporting by Charities- Statement of Recommended Practice ISORPI applicable to charities preparing their financial statements in accordance with the Fina ncial Reporting Standard applicable in the UK and Republic of I reland IFRS 1021 issued on 16 July 2014 las updated through Update Bulletin I published on 2 February 20161, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Companies Act 2006. 2.2 Bosis of Preparation The financial statements are prepared on a going concern basis under the historical cost convention unle55 Otherwise stated in the releva nt accounting policy. Historical cost is generally based on the fair value of the consideration given in exchange for assets. 2.3 Cash Flow Statement The charitable company has applied Update Bulletin l as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 SORP. 2.4 Income ond Endowments (i) Charitable Artiwties Income resources from charitable activities includes income received under contract or where entitlement to grant funding is subject to specific performance conditions. It is recognised as earned 3S the related services or goods are provided. Grant income is recognised in the statement of financial activities when receivable. Grant income included in this category provides funding to support projects and is recognised where there is entitlement, certainty of receipt and the amount can be measured with suff icient reliability. (li) Other Trading Activities Voluntary income includes incoming resources from gifts, donations and grants and is recognised in full in the Statement of Financial Activities when receivable. Activities for generating funds are commercial activities which are recognised as earned when the related goods and services are provided.
Willowbank Limited (Charitable Company Limited by Guarantee) Company Registration Number: N1018259 Charity Registration number: 101844 NOTES TO THE FINANCIAL STATEMENTS For the ear ended 31 March 2024 continued 2. ACCOUNTING POLICIES (continued) 2.5 Resources Expended Expenditure is recognised when a liability is incurred. Contractual arrangements and performance related grants are recognised as goods and services are supplied. Where costs cannot be directly attributed to a particular heading, they have been allocated to activities on a basis consistent with use of resources. Staff cost5 and overhead expenses are allocated to activities on the basis of staff time spent on those activities. (i) Choritable Artivities This compromises all the resources applied by the charity in undertaking its work to meet its charitable objectives. Charitable activities will include the costs of governance arrangements which relate to the genera I running of the charity. 2.6 Fund Accounting The charity has two types of funds for which it is responsible at year end: Unrestricted Funds Funds which are expendable at the discretion of the directors in furtherance of the objectives of the cha rity. I n addition, funds may be held in order to finance capital investment and working capital. Restritted Fund5- Income received for specific purposes. Such purposes are within the overall aims of the charity. 2.7 Property, Plont and Equipment ond Depreciation All property, plant and equipment are initially recorded at cost. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised. Depreciation is provided at rates ca Iculated to write off the cost Sess residual value of each asset over its expected useful life. as follows.. Buildings 2Yo Straight Line Fixtures, Fittings and Equipment 250A Reducing balance Motor Vehicles 25% Reducing balance 2.8 Finoncial Instruments (i) Finoncial A55et5 Basic financial assets, including trade and other receivables, cash and bank balances and amounts owed by related parties a nd are initia Ily recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using he effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discou nted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. io
Willowbank Limited {Charitable Company Llmited by Guarantee} Company Registration Number: N1018259 Charity Registration number: 101844 NOTES TO THE FINANCIAL STATEMENTS For the ear ended 31 March 2024 continued 2. ACCOUNTING POLICIES {continued) If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised. the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. Financial assets are derecognised when lal the contractual rights to the cash flows f rom the asset expire or are settled, or Ibl substa ntially all the risks and rewards of the ownership of the asset are transferred to another party or Ic) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. {ii) Financial Liabilities Basic financial liabilities, including trade and other payables, bank loans and overdrafts and amounts owed to related parties are initially recognised at transaction price, unless the arra ngement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. On this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due with in one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractua l obligation is discharged, cancelled or expires. (iii) Offsetting Financial assets and liabilities are offset and the net amounts presented in the financial Statements 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. 2.9 Critical Accounting Judgements and Estimation Uncertointy Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. li
Willowbank Limited {Charitable Company Limited by Guarantee) Company Registration Number: N1018259 Charity Registration number: 101844 NOTES TO THE FINANCIAL STATEMENTS For the ear ended 31 March 2024 continued 2. ACCOUNTING POLICIES (continuedl Criticaljudgments in (Jpplying the entity's occounting policies There are no critical judgements in applying the charity's accounting policies. Criticol accounting estimates and assumptions There are no actual accounting estimates and assumptions. 2.10 Trode and Other Receivobles Trade and other receivables are initially recorded at fair value and thereafter stated at cost less impairment losses for bad and doubtful debts. 2.11 Trade ond Other Payables Trade and other paya bles are initially recognised at fair value and thereafter stated at cost. 2.12 Taxation As a charity, the cha ritable company is not liable to Corporation tax. 3. GOING CONCERN The company is dependent on Southern Health & Social Care Trust and National Lottery funding. On this basis, a m3terial uncertainty exists that may cast significa nt doubt on the company's ability to continue as a going concern and, therefore, that it may be una ble to realise its assets and discharge its liabilities in the normal course of business. The directors have had discussions with both the Southern Health & Social Care Trust and National Lottery and are of the opinion that funding will continue for the foreseeable future to enable the company to discharge liabilities as they f311 due. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statement5 do not include a ny adjustments that would result from the discontinuance of Southern Health & Social Care Trust or National Lottery funding, or its reduction to an inadequate level. 12
Willowbank Limited {Charitable Company Limited by Guarantee) Company Registration Number: N1018259 Charity Registration Number: 101844 NOTES TO THE FINANCIAL STATEMENTS For the ear ended 31 March 2024 continued 4. INCOME AND ENDOWMENTS Unrestricted Restricted Funds Funds Total ijnrestricted Restricted Funds Funds Funds 2024 2023 2023 Total Funds 2023 2024 2024 Charitable Activities Southern Health & Social Care Trust Mid-u Ister Council National Lottery Community Fund Halifax Foijndation DFC Grant DFCGrant Community Foundation Arts Council John Moore Foundation Total Income from Charitable Activities 100,786 4,200 100,786 4,200 59,004 112,524 112,524 59,004 62,040 659 62,040 659 300 4,709 1,408 1,961 4,000 300 4,709 1,408 1,961 4,000 218 218 104,986 59,222 164,208 112,524 75,077 187,601 Unrestritted Restricted Funds Funds Total Unrestricted Restricted Funds Funds Funds 2024 2023 2023 Total Funds 2023 2024 2024 Other Trading Activities Room Hire Services Support Services Lunches & Catering Shop Provision of transport Other Income.. Donations & Sundry Income Total Income from Other Trading Activities 300 300 1,108 23,017 1,344 352 1,108 23,017 1,344 352 19,988 1,125 545 19,988 1,125 545 3,445 3,445 1,071 1,071 2,984 2,984 26,474 26,474 28,805 28,805 13
Willowbank Limited (Charitable Company Limited by Guarantee) Company Registration Number: N1018259 Charity Registratlon Number: 101844 NOTES TO THE FINANCIAL STATEMENTS For the ear ended 31 March 2024 continued 5. RESOURCES EXPENDED Unrestrirted Restrlcted Total Unrestricted Restricted Funds Funds Funds 2023 Total Funds Funds Funds 2024 2024 2024 2023 2023 Charitable Activitie5 Wages & Salaries Staff Pension Training & Cost of Projects Rent Payable Insurance 60,254 3,951 351 55,750 116,004 3,951 5.296 13,980 1,768 1,448 10,354 1,027 858 65,763 4,215 491 59,473 125,236 4,215 5,074 30,756 1,649 1,672 4,164 687 4,945 1,450 4,583 3,273 12.530 1,768 1,448 9.825 1,027 358 27.483 1,649 1,672 4,164 687 Cleaning & Laundry Repairs & Maintenance IT & Equipment Costs Printing, Postage, Stationery & Advertising Telephone Travelling & Transport Administration & Support Bank Charges Independent Examiner's Remuneration Professional Fees Depreciation Gain on Disposal of Tangible Assets General Expenses Light & Heat 529 500 91 315 406 2,249 3,357 112 2,249 3,645 112 1,426 10,437 468 1,426 10,649 468 288 212 174 50 224 277 277 2,040 2,040 2.625 2,851 -5,516 1,408 4,436 2,400 2,400 2.625 1,539 1,312 -5,516 1,408 4,436 1,479 2.053 3,532 688 688 5,802 5,802 Total Resources Expended 101,084 67,676 168,760 129,192 69,909 199,101 14
Willowbank Limited (Charitable Company Limlted by Guarantee) Company Registration Number: N1018259 Charity Registratlon Number: 101844 NOTES TO THE FINANCIAL STATEMENTS For the ear ended 31 March 2024 continued 6. NET INCOMEIEXPENDITURE FOR THE YEAR Net Income/Expenditure is stated after chargin8: 2024 2023 Depreciation Independent Examiner's Remuneration 2.851 2.040 3,532 2,400 7. STAFF COSTS AND EMPLOYEE BENEFITS The average number of persons employed by the charitable company during the year was 812023: 91 The total staff costs and employee benefits were as follows.. 2024 2023 Gross Wages and Salaries Social Security Costs Staff Pension Costs 99,958 16,046 3,951 119,955 107,086 18,150 4,215 129,451 No employee of the charitable company received total employee benefits of more than £60,000. 7.1 Directors, Remuneration The directors received nor waived any remuneration or any other benefits during the year and no reimbursements of expenses incurred. 15
Willowbank Limited {Charitable Company Limited by Guarantee) Company Registration Number: N1018259 Charlty Registration Number: 101844 NOTES TO THE FINANCIAL STATEMENTS For the ear ended 31 March 2024 continued 8. TANGIBLE ASSETS Buildlngs Fixtures, Fittings & Equipment Motor Total Vehicles Cost At 31 March 2023 Additions Disposals At 31 March 2024 40,578 70,258 34,795 145,631 -34,795 -34,795 110.836 40,578 70,258 Depreciation At 31 March 2023 Charge for year Disposals At 31 March 2024 19,355 812 66,742 878 30,150 1,161 -31,311 116,247 2,851 -31,311 87,787 20,167 67.620 Carrying Amount At 31 March 2024 20.411 2,638 23,049 At 31 March 2023 21,223 3,516 4,645 29,384 9. RECEIVABLES 2024 2023 Grants and Trade Receivables Prepayments and Accrued Income Other Debtors 1,882 634 2,453 1,230 2,519 6,202 2,852 5,368 10. PAYABLES: AMOUNTS DUE FALLING WITHIN ONE YEAR 2024 2023 Trade Payables Accurals 22,848 2,040 24,888 28,477 2,040 30,517 16
Willowbank Limited Icharitable Company Limited by Guarantee) Company Registration Number: N1018259 Charity Registration Number: 101844 NOTES TO THE FINANCIAL STATEMENTS For the ear ended 31 March 2024 continued 11. ANALYSIS OF NET ASSETS Unrestricted Restrirted Funds Funds Total Funds Fixed Assets 21,914 154,042 -24,888 151,068 1,135 83 23,049 154,125 -24,888 152,286 Current Assets Current Liabilities Net Assets 1,218 12. FINANCIAI INSTRUMENTS 2024 2023 Carrying Amount of Financial Assets Debt Instruments Measured at Amortised Cost Carrying Amount of Financial Liabilites Measured at Amortised Cost 22,848 28,477 13. ANALYSIS OF FUNDS Opening Balance Income=xpenditure Transfer Closing Balance Between Funds Big Lottery Fund Wolfson Foundation The Honourable Irish Society Advoacy Southern Health & Social Care Trust Awards for All 819 -204 615 4,645 223 -1,161 -56 -3,484 167 49 -12 37 422 -106 316 8,263 1,689 2,465 18,575 59,004 218 -61,765 -1,907 -2,465 -67,676 -5,419 83 Arts Council John Moore Foundation Total Restricted Funds 59,222 -8,903 1,218 Unrestricted Funds 111,789 131,460 -101,1)84 8.903 151,068 Total 130,364 190,682 -168,760 152,286 14. CONTINGENT LIABILITIES A contingent liability exists to repay grants received should certain conditions not be fulfilled by the charitable company. 17