Company Registration Number: NI018259 Charity Registration number: 101844
Willowbank Limited (Charitable Company Limited by Guarantee) Annual Report and Financial Statements for the year ended 31 March 2025
Willowbank Limited
(Charitable Company Limited by Guarantee)
CONTENTS
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|---|---|---|---|---|
|Page|
|General|Information|2|
|Directors’|Report|3-5|
|Independent|Examiner’s|Report|6|
|Statement|of|Financial|Activities|7|
|Statement|of|Financial|Position|8|
|Notes to|the|Financial|Statements|9-17|
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1
Willowbank Limited
(Charitable Company Limited by Guarantee)
GENERAL INFORMATION
| Board ofDirectors | Kenneth Ferguson | |
|---|---|---|
| Stephen McNeill | ||
| Marion McKenna | ||
| Catherine McCrory | ||
| Maggie McCloskey | ||
| Peter Donnelly | ||
| Registered Office | Willowbank Resource Centre | |
| Carland Road | ||
| Dungannon | ||
| Co Tyrone | ||
| BT71 4AA | ||
| Company Registration | Number | NI018259 |
| Charity Registration | Number | 101844 |
| Independent Examiner | Ruddell and Company | |
| Chartered Accountants and Registered Auditors | ||
| 16 -18 Church Street | ||
| Dungannon | ||
| CountyTyrone | ||
| BT71 6AB | ||
| Solicitors | PA Duffy& Co | |
| 5 - 7 Irish Street | ||
| Dungannon | ||
| County Tyrone | ||
| BT70 1JW | ||
| Bankers | Bank ofIreland | |
| 11 Market Street | ||
| Magherafelt | ||
| County Londonderry | ||
| BT45GEE |
2
Willowbank Limited
(Charitable Company Limited by Guarantee)
DIRECTORS’ REPORT
For the year ended 31 March 2025
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 2025.
The financial statements have been prepared in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities” (FRS 102), 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 direct care services;
-
- Support services and day opportunities to people with disabilities; - 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 a 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 partnerships with colleagues in the community, public and private sector; and
-
- Facilitating the interface with elected representatives, planners and commissioners of services to ensure that the rights of disabled people as citizens are upheld.
Public Benefit Statement
The directors of Willowbank Limited confirm that they have complied with their duty under section 4(6) of the Charities Act (Northern 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 2025.
Achievements and Performance
The directors are confident that the charitable com pany continues to meet its performance objectives to benefit the local community. The charitable company continues to receive funding from local bodies.
- .
3
Willowbank Limited
(Charitable Company Limited by Guarantee)
DIRECTORS’ REPORT (continued) For the year ended 31 March 2025
Financial Review
Financial Performance
The results for the year are set out in detail on pages 7 to 17. The charitable company returned net outgoing resources for the year of £4,436 (2024: net incoming resources of £21,922).
At 31 March 2025, the total funds of the charity amounted to £147,850 (2024: £152,986) comprising restricted funds of £2,106 (2024: £1,218) and unrestricted funds of £145,744 (2024: £151,068). Principle sources of funding and how this has supported the key objectives of the charitable company are disclosed in the notes to the financial statements.
Reserves 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 reserves in order to meet any unforeseen expenditure incurred.
Structure, Governance and Management
Organisational 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 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 becomea director 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.
Directors
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 Practice).
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Willowbank Limited
(Charitable Company Limited by Guarantee)
DIRECTORS’ REPORT (continued)
For the year ended 31 March 2025
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 (FRS102); - make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the 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 financial 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 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 17 November 2025 and signed on its behalf by:
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Registered Office:
Willowbank Resource Centre
Carland Road ? ‘
Dungannon iS jl oy -
County Tyrone Catherine McCrory
BT71 4AA Director
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Company Registration Number: NI018259
Charity Registration Number: 101844
5
Willowbank Limited
(Charitable Company Limited by Guarantee)
INDEPENDENT EXAMINER’S REPORT ON THE FINANCIAL STATEMENTS TO THE MEMBERS OF WILLOWBANK LIMITED
| report on the accounts of the charity for the year ended 31 March 2025, which are set out on pages 2to 17.
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 ofthe Charities Act; - follow the procedures laid down in the general directions given by the Commission under section 65(9)(b) of the Charities Act;
-
- state whether particular matters have come to my attention.
Basis of Independent Examiner’s Report
| 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 65(9)(b) 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 accounting 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
| have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and in connections with the following directions of the Charity Commission for Northern Ireland, | have found no matters that require drawing to your attention.
| Adal Jonathan Ruddell For and on behalf of Ruddell and Company Chartered Accountants & Registered Auditors 16 -18 Church Street Dungannon County Tyrone BT71 6AB
17 November 2025
6
Willowbank Limited
(Charitable Company Limited by Guarantee)
Company Registration Number: NI018259 Charity Registration Number: 101844
STATEMENT OF FINANCIAL ACTIVITIES
(including an Income & Expenditure Account) For the year ended 31 March 2025
| Unrestricted Restricted Total Unrestricted Restricted Total |
|
|---|---|
| Funds Funds Funds Funds Funds Funds |
|
| 2025 2025 2025 2024 2024 2024 |
|
| £ £ £ £ £ £ |
|
| INCOME AND ENDOWMENTS | |
| Charitable Activities (Note 4) | 103,275 26,470 129,745 104,986 59,222 164,208 |
| OtherTrading Activities (Note 4) TOTALINCOMEANDENDOWMENTS |
12,518 - 12,518 26,474 - 26,474 oe OIE EOIN 115,793 26,470 142,263 131,460 59,222 190,682 a a aecde rc |
| RESOURCES EXPENDED | |
| Charitable Activities (Note 5) TOTALRESOURCES EXPENDED |
121,117 25,582 146,699 101,084 67,676 168,760 ee Se ENO LO BOG1 121,117 25,582 146,699 101,084 67,676 168,760 —ens anes amennneca ea, |
| Net Outgoing/Incoming Resources | |
| fortheYear | -5,324 888 -4,436 30,376 -8,454 21,922 |
| Transfers between Funds | - 0 - 8,903 -8,903 - |
| Balance Brought Forward Balance Carried Forward |
151,068 1,218 152,286 111,789 18,575 130,364 OO OU 08 145,744 2,106 147,850 151,068 1,218 152,286 eee eke |
eee The above Statement of Financial Activities includes all information as required to be disclosed by the Companies Act 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.
7
Willowbank Limited (Charitable Company Limited by Guarantee)
Company Registration Number: NI018259 Charity Registration Number: 101844
STATEMENT OF FINANCIAL POSITION as at 31 March 2025
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|---|---|---|---|---|---|
|Note|2025|2024|
|£|£|
|FIXED|ASSETS|
|Tangible|Assets|8|23,738|23,049|
|CURRENT|ASSETS|
|Receivables|9|3,959|5,368|
|Cash|and|Cash|equivalents|144,816|148,757|
|148,775|154,125|
|Payables: Amounts|Falling Due Within One Year|10|-24,663|-24,888|
|NET CURRENT ASSETS|124,112|129,237|
|NET ASSETS|147,850|152,286|
|REPRESENTED|BY:|
|Unrestricted|Funds|13|145,744|151,068|
|Restricted|Funds|13|2,106|1,218|
|TOTAL FUNDS|13|147,850|152,286|
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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 2006 (“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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 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 small companies’ regime.
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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 17 November 2025 and signed for on their behalf by:
€ Catherine McCrory Director
Kenneth Ferguson Director
8
Willowbank Limited (Charitable Company Limited by Guarantee)
Company Registration Number: NI018259 Charity Registration number: 101844
.
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025
1. GENERAL INFORMATION
Willowbank Limited is a charitable company limited by guarantee 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 office 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 company’s financial statements.
2.1 Statement of Compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006.
2.2 Basis of Preparation
The financial statements are prepared on a going concern basis under the historical cost convention unless otherwise stated in the relevant 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 1 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 and Endowments
(i) Charitable Activities
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 as 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 sufficient reliability.
(ii) 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.
9
Willowbank Limited
(Charitable Company Limited by Guarantee)
Company Registration Number: N1I018259 Charity Registration number: 101844
For the year ended 31 March 2025
NOTES TO THE FINANCIAL STATEMENTS (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 costs and overhead expenses are allocated to activities on the basis of staff time spent on those activities.
(i) Charitable Activities
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 general 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 charity. In addition, funds may be held in order to finance capital investment and working capital.
Restricted Funds — Income received for specific purposes. Such purposes are within the overall aims of the charity.
2.7 Property, Plant and Equipment and 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 calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Buildings 2% Straight Line Fixtures, Fittings and Equipment 25% Reducing balance Motor Vehicles 25% Reducing balance
2.8 Financial Instruments
(i) Financial Assets
Basic financial assets, including trade and other receivables, cash and bank balances and amounts owed by related parties and are initially 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 discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
10
Willowbank Limited (Charitable Company Limited by Guarantee)
Company Registration Number: NI018259
Charity Registration number: 101844
.
NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 March 2025
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 (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) 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 arrangement 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 within 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 contractual 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 Uncertainty
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.
11
Willowbank Limited
(Charitable Company Limited by Guarantee)
Company Registration Number: NI018259 Charity Registration number: 101844
NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 March 2025
2. ACCOUNTING POLICIES (continued)
Critical judgments in applying the entity’s accounting policies
There are no critical judgements in applying the charity’s accounting policies.
Critical accounting estimates and assumptions
There are no actual accounting estimates and assumptions.
2.10 Trade and Other Receivables
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 and Other Payables
Trade and other payables are initially recognised at fair value and thereafter stated at cost.
2.12 Taxation
As a charity, the charitable 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 material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern and, therefore, that it may be unable 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 fall due. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any 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: NI018259 Charity Registration Number: 101844
NOTES TO THE FINANCIAL STATEMENTS (continued)
For the year ended 31 March 2025
4. INCOME AND ENDOWMENTS
| 4. INCOME ANDAND ENDOWMENTS | ||||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
| Funds | Funds | Funds | Funds | Funds | Funds | |
| 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | |
| £ | £ | £ | £ | £ | £ | |
| Charitable Activities | ||||||
| Southern Health& Social CareTrust | 103,275 | - | 103,275 | 100,786 | - | 100,786 |
| Mid-Ulster Council | - | - | - | 4,200 | = | 4,200 |
| National LotteryCommunity Fund | - | 19,270 | 19,270 | - | 59,004 | 59,004 |
| Halifax Foundation | - | 7,200 | 7,200 | - | - | - |
| Arts Council | - | - | - | - | 218 | 218 |
| Total Income from Charitable | ||||||
| Activities | 103,275 26,470 SS aa |
129,745 104,986 59,222 ne edn RR |
164,208 cAZe |
|||
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
| Funds | Funds | Funds | Funds | Funds | Funds | |
| 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | |
| £ | £ | £ | £ | £ | £ | |
| OtherTrading Activities | ||||||
| Room Hire Services | 30 | - | 30 | 300 | - | 300 |
| SupportServices | 4,340 | - | 4,340 | 19,988 | - | 19,988 |
| Lunches& Catering | 1,465 | - | 1,465 | 1,125 | - | 1,125 |
| Shop | 340 | - | 340 | 545 | - | 545 |
| Provision oftransport | - | - | - | 3,445 | - | 3,445 |
| Other Income: | ||||||
| Donations&Sundry Income | 6,343 | - | 6,343 | 1,071 | - | 1,071 |
| Total Incomefrom OtherTrading | ||||||
| Activities | 12,518 | - | 12,518 | 26,474 | - | 26,474 |
13
Willowbank Limited (Charitable Company Limited by Guarantee)
Company Registration Number: NI018259 Charity Registration Number: 101844
NOTES TO THE FINANCIAL STATEMENTS (continued)
For the year ended 31 March 2025
| 5. RESOURCES EXPENDED | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||||
| Funds | Funds | Funds | Funds | Funds | Funds | ||||
| 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | ||||
| £ | £ | £ | £ | f | £ | ||||
| Charitable Activities | |||||||||
| Wages& Salaries | 98,638 | 21,249 | 119,887 | 60,254 | 55,750 | 116,004 | |||
| StaffPension | 4,307 | - | 4,307 | 3,951 | - | 3,951 | |||
| Training & Cost of Projects | 683 | 4,000 | 4,683 | 351 | 4,945 | 5,296 | |||
| Rent Payable | - | - | - | 12,530 | 1,450 | 13,980 | |||
| Insurance | 1,051 | - | 1,051 | 1,768 | - | 1,768 | |||
| Cleaning & Laundry | 1,608 | - | 1,608 | 1,448 | - | 1,448 | |||
| Repairs & Maintenance | 5,193 | - | 5,193 | 9,825 | 529 | 10,354 | |||
| IT& Equipment Costs | 1,238 | - | 1,238 | 1,027 | - | 1,027 | |||
| : | Printing, Postage, Stationery & Advertising | 245 | - | 245 | 358 | 500 | 858 | ||
| Telephone | 2,481 | - | 2,481 | 2,249 | - | 2,249 | |||
| Travelling&Transport | - | - | - | 3,357 | 288 | 3,645 | |||
| Administration &Support | 72 | - | 72 | 112 | - | 112 | |||
| Bank Charges | 222 | 50 | 272 | 174 | 50 | 224 | |||
| Independent Examiner's Remuneration | 2,040 | - | 2,040 | 2,040 | - | 2,040 | |||
| Professional Fees | - | - | - | - | 2,625 | 2,625 | |||
| Depreciation | 1,187 | 283 | 1,470 | 1,312 | 1,539 | 2,851 | |||
| Gain on Disposal ofTangible Assets | - | - | 0 | - | 5,516 | - | - | 5,516 | |
| General Expenses | 1,367 | - | 1,367 | 1,408 | - | 1,408 | |||
| Light& Heat | 785 | - | 785 | 4,436 | - | 4,436 | |||
| TotalResourcesExpended | 121,117 | 25,582 | 146,699 | 101,084 | 67,676 | 168,760 |
14
Willowbank Limited (Charitable Company Limited by Guarantee)
Company Registration Number: NI018259 Charity Registration Number: 101844
NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 March 2025
6. NET INCOME/EXPENDITURE FOR THE YEAR
Net Income/Expenditure is stated after charging:
| 2025 | 2024 | |||
|---|---|---|---|---|
| £ | £ | |||
| Depreciation | 1,470 | 2,851 | ||
| Independent | Examiner's | Remuneration | 2,040 | 2,400 |
7. STAFF COSTS AND EMPLOYEE BENEFITS
The average number of persons employed by the charitable company during the year was 8 (2024: 8)
| The total staffcosts and employee benefits were as follows: | : | |
|---|---|---|
| 2024 | 2024 | |
| £ | £ | |
| GrossWages and Salaries | 100,849 | 99,958 |
| Social Security Costs | 19,038 | 16,046 |
| Staff Pension Costs | 4,307 | 3,951 |
| 124,194 | 119,955 |
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: NI018259 Charity Registration Number: 101844
NOTES TO THE FINANCIAL STATEMENTS (continued)
For the year ended 31 March 2025
| 8. TANGIBLE ASSETS | ||||
|---|---|---|---|---|
| Buildings | Fixtures, | Motor | Total | |
| Fittings & | Vehicles | |||
| Equipment | ||||
| £ | £ | £ | £ | |
| Cost | ||||
| At 31 March 2024 | 40,578 | 70,258 | - | 110,836 |
| Additions | - | 2,159 | - | 2,159 |
| Disposals | - | - | - | - |
| At31 March 2025 | 40,578 | 72,417 | - | 112,995 |
| Depreciation | ||||
| At 31 March 2024 | 20,167 | 67,620 | = | 87,787 |
| Charge foryear | 812 | 658 | - | 1,470 |
| Disposals | - | - | - | - |
| At 31 March 2025 | 20,979 | 68,278 | - | 89,257 |
| Carrying Amount | ||||
| At 31 March 2025 | 19,599 | 4,139 | - | 23,738 |
| At 31 March 2024 | 20,411 | 2,638 | - | 23,049 |
| 9. RECEIVABLES | ||||
| 2025 | 2024 | |||
| £ | £ | |||
| Grants and Trade Receivables | 12 | 1,882 | ||
| Prepayments and Accrued Income | 1,735 | 634 | ||
| Other Debtors | 2,212 | 2,852 | ||
| 3,959 | 5,368 | |||
| 10. PAYABLES:AMOUNTS DUE FALLING WITHIN ONEYEAR | ||||
| 2025 | 2024 | |||
| £ | £ | |||
| Trade Payables | 22,623 | 22,848 | ||
| Accurals | 2,040 | 2,040 | ||
| 24,663 | 24,888 |
16
Willowbank Limited (Charitable Company Limited by Guarantee)
Company Registration Number: N1I018259 Charity Registration Number: 101844
NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 March 2025
| 11. ANALYSIS OF NET ASSETS | |||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| Funds | Funds | Funds | |||
| £ | £ | £ | |||
| Fixed Assets | 22,886 | 852 | 23,738 | ||
| Current Assets | 147,521 | 1,254 | 148,775 | ||
| Current Liabilities | -24,663 | - | -24,663 | ||
| NetAssets | 145,744 | 2,106 | 147,850 | ||
| 12. FINANCIAL INSTRUMENTS | |||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| CarryingAmount of Financial Assets | |||||
| Debt Instruments Measured at Amortised Cost | - | - | |||
| CarryingAmount of Financial Liabilites | |||||
| Measured at Amortised Cost | 22,623 | 22,848 | |||
| 13. ANALYSIS OF FUNDS | |||||
| Opening | Income | :xpenditure | —_‘Transfer | Closing | |
| Balance | Between | Balance | |||
| Funds | |||||
| £ | £ | £ | £ | £ | |
| Big Lottery Fund | 615 | 19,270 | -18,753 | 5 | 1,132 |
| The Honourable Irish Society | 167 | - | -41 | - | 126 |
| Advoacy | 37 | - | -9 | - | 28 |
| Southern Health & Social Care Trust | 316 | - | -79 | - | 237 |
| Awards for All | 83 | - | 0 | - | 83 |
| Halifax | - | 7,200 | -6,700 | - | 500 |
| Total Restricted Funds | 1,218 | 26,470 | -25,582 | - | 2,106 |
| Unrestricted Funds | 151,068 | 115,793 | -121,117 | - | 145,744 |
| Total | 152,286 | 142,263 | -146,699 | - | 147,850 |
14. CONTINGENT LIABILITIES
A contingent liability exists to repay grants received should certain conditions not be fulfilled by the charitable company.
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