Company Registration Number: N1049935 Charlty Registration Number: 101845 Willowbank Organic Producers Limited (Charitable Company Limited by Guarantee) Annual Report and Financlal Statements for the year ended 31 March 2023
Willowbank Organic Producers Llmited (Charitable Company Limited by Guarantee) CONTENTS Page General Information Directors. Report Independent Examinerfs Report Statement of Financlal Activities Statement of Financlal Position Notes to the Flnantial Statements 9-18
Willowbank Organic Producers Limited Icharitable Company Limited by Guarantee) GENERAL INFORMATION Board of Directors Marion McKenna Stephen McNeill Kenneth Ferguson Catherine Mccrory Marina Sloan Colm Gildernew Iresigned 6 December 20231 Andrew Trotter Registered Office Willowbank Community Resource Centre Carland Road Dungannon Co Tyrone BT714AA Company Registration Number N1049935 Charity Registration Number 101845 Independent Examiner Ruddell and Company Chartered Accountants and Registered Auditors 16 Church Street Dungannon Co Tyrone BT716AB Solicitors PADufv&Co 5 7 Irish Street Dungannon Co Tyrone BT70 IJW Bankers Bank of Ireland 11 Market Street Magherafelt Co Londonderry BT45 6EE
Willowbank Organic Producers Limited (Charitable Company Limited by Guarantee) DIRECTORS, REPORT for the ear ended 31 Marth 2023 The d irectors, 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" {FRS 1021, United Kingdom Generally Accepted Accounting Practice and the Companies Act 2006. Reference and Administration Details The refèrence and administration details of the charitable company are as shown on page 2. Objectives and Artivities The objectives of the charitable company are as follows: To develop services for disabled people which promote choice, opportunity, independence and equalitv; To train or to provide training services in horticultural and related trades or occupations for disabled people so as to assist their integration in the community a nd assist in the finding of suitable employment. and To develop a range of pre-vocational/vocational training and enterprise initiatives which enhance skills and promote opportunity in education, training and employment. This project was established in 2004 with a view to providing an experiential learning environment based around horticulture. There are a number of aims for the project: To provide a place where disabled people could learn new skills in a safe and supportive environment using horticulture as a training basis to deliver other subject areas such as customer care, money management, work preparation and essential skills. This project is specifically aimed at non-traditional learners who have lost confidence in the "c13ssroom" and "formal education" setting. Through training and working alongside GUAG {Get Up and Growl staff we hope to equip disabled people with the skills to grow their own produce, maintain their own gardens and for those who wish to pursue employment, an accredited qualification. We intend to produce a quality product for resale to the wider community and deliver training to schools and community groups. This will create an interface between disabled people and their own community where disabled people are recognised as skilled people contributing to the community. Public Benefit Statement The directors of Willowbank Organic Producers Limited conform 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 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 confident that 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 Organic Producers Limited {Charitable Company Limited by Guarantee) DIRECTORS, REPORT for the ear ended 31 March 2023 continued Financial Review Finonciol Performance The results for the year are set out in detail on pages 7 to 18. The charitable company returned net outgoing resources for the year of £3,98012022: net outgoing resources of £659). At 31 March 2023, thè total funds of the charity amounted to £33,66512022'. £37,645) comprising restricted funds of £2,31512022- £3,087) and u nrestricted funds of £31,35012022: £34,558). 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 OrgonisQtional Strurture The charitable company is a company limited by guarantee, not having a share capital. The charitable company was established under a Memorandum of Assotiation 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 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. 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. Director5, 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 Pratticel.
Willowbank Organic Producers Limited Icharitable Company Limited by Guarantee) DIREcfoRS' REPORT for the ear ended 31 March 2023 continued Company law requires the direttors 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 vear. In preparing these f inancial statements, the directors are required to.. select suitable accounting policies and apply them consistently. observe the methods and principles in the Charities SORP IFRS102}; make judgements and estimate5 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 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 a nd 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 l March 2024 and signed on its behalf by.. Registered Office.. Willowbank Community Resource Centre Carland Road Dungannon Co Tyrone BT714AA Catherine Mccrory Director Com Chari an istration Number: N1049935 Re istration Number: 101845
Willowbank Organic Producers Limited (Charitable Company Limited by Guarantee) INDEPENDENT EXAMINER'S REPORT ON THE FINANCIAL STATEMENTS TO THE MEMBERS OF WILLOWBANK ORGANIC PRODUCERS LIMITED for the ear ended 31 March 2023 I report on the accounts of the charity for the year ended 31 March 2023, which are set out on pages 2tol8. Respective Responslbillties 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 6519llbl of the Charities Act,. state whether particular matters have come to my attention. Basis of Independent Examinerfs Report I have ex3mined 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{91(bl of the Charities Act. My examination included a review of the accounting records kept by the charity and a comparison of thè accounts presented with those records. It also included consideration of any unusual items or disclosures in the accou nts and seeking explanations 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 Att; 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 Examinerfs Statement I have completed my examination and have no concerns in respect of the matters11) to141 listed above and in connections with the following the directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. l March 2024 Jonathan Ruddell For and on behalf of Ruddell and Company Chartered Accountants & Registered Auditors 16 Church Street Dungannon Co Tyrone BT716AB
Willowbank Organic Producers Limited Icharitable Company Limited by Guarantee) Company Registration Number: N1049935 Charity Registration Number. 101845 STATEMENTOF FINANCIALACTIVITIES includin an Income & Ex enditure Account Forthe ear ended 31 March 2023 Vnrestrirted Restrlrted Total Unrestricted Restricted Funds Funds Tota I Funds Funds Funds Funds 2023 2023 2023 2022 2022 2022 Income and Endowments Charitable Activities (Note 41 Other Tradi ng Activities (Note 41 Total Income and Endowment5 10,372 10,372 10,372 10,372 13,973 13,973 13,973 13,973 Resources Expended Cha ritable Activities INote 51 Total Resour¢es Expended 13,580 13,580 772 14,352 14,352 13,603 13,603 1,029 1,029 14,632 14,632 772 Net Incomingloutgoing Resources for the year Tra nsfers bely4een Funds Ba la nce 8rought Forwa rd Balance Carried Forward -3,208 -772 -3,980 370 -1,029 -659 34,558 31350 3,087 2,315 37,645 33,665 34,188 34,558 4,116 38.304 3,087 37,645 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 18 form an integral part of these financial statements.
Willowbank Organic Producers Limited (Charitable Company Limited by Guarantee) Company Registration Number: N1049935 Charity Registratlon Numbtr: 101845 STATEMENT F FINANCIAL POSITION as at 31 March 202 Note 2023 2022 Flxed Assets Ta ngi ble Assets io 2376 3.968 Current Asset5 Inventories li 2.000 2,000 397 Receivabl es 12 Cash and Cash Equivalents 29,646 32,660 35,057 31,649 Payables: Amounts Falllng Due Within One Year 13 -960 -1.380 Net Current Assets 30.689 33,677 Net Assets 33.665 37,645 Represented By-. Unrestri ctÉd Funds 14 31.350 2.315 34,558 3.087 Restrlctecl Funds 14 Total Fund5 14 33.665 37.645 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 Art 20061"The Art") 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 Art 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 subjert to the small companies, regime. The notes on pages 9 to 18 form an integral part of the financial statements. The financial statements were approved and authorised for issue bythe Board of Directors on l March 2024 and signed on their behalf by: Catherine Mccrory Director Kenneth Ferguson Director Com Chari an istration Number: N1049935 istration Number: 101845
Willowbank Organic Producers Limited {Charitable Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS For the ear ended 31 March 2023 I. GENERAL INFORMATION Willowbank Organic Producers Ltd is 3 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. 2. ACCOUNTING POLICIES The following accounting policies, as outlined below. have been applied consistently in dealing with items in relation to the charitable companws 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 ISORPI applica ble to charities preparing their fina ncial statements in accordance with the Financial Reporting Standard applicable in the UK and TH Republic of Ireland IFRS 1021 issued on 16 July 201413s 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. Willowbank Organic Producers Limited meets the definition of a public benefit entity under FRS 102. 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. Historica I 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 and Endowments (il Charitable Activities Incoming 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 included in the 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.
Wlllowbank Organic Producers Limited (Charitable Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS For the ear ended 31 March 2023 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 attivities 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. {1) Charitable 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 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 Fund5 which are expendable at the discretion of the direttors in furtherance of the objectives of the charity. In addition, funds may be held in order to finance capital investment and working capital. Restrirted Funds- Income received for specrfic purposes. Such purposes are within the overall aims of the ch3rity. 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 thè asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised. Depreci3tion is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows: Plant and Machinery Fixtures and Fittings 25% Reducing balance 25Yo Reducing balance 2.8 Financial Instruments (i) rinancial 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 of the future receipts discounted at a market rate of interest. Such assets subsequently carried at amortised cost using the 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. io
Willowbank Organic Producers Limited (Charitable Company Lirnited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS For the ear ended 31 March 2023 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 from the asset expire or are settled, or {bl substantially all the risks and rewards of the ownership of the asset are transferred to another party or Icl 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) Fynancial 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 ihe esTablishment of loan facilities are recognised as transattion 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 effertive interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contrattua 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 rightto 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 Uncertalnty 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 circumst3nces. li
Willowbank Organic Producers Ltmited (Charitable Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS For the ear ended 31 March 2023 continued 2. ACCOUNTING POLICIES ltontinued) Criticaljudgments in opplying the entitWs occounting policies There are no critical judgements in applying the charity's accounting policies. Criticol occounting estimates and assumptions There are no actual accounting estimates and assumptions. 2.10 Ti'ade and Other Receivables Trade a nd other receivables are initially recorded at fair value and thereafter stated at cost less impairmeni losses for bad and doubtful debts. 2.11 Trade and Other Payables Trade and other payables are init1311y recogni5ed at fair value and thereafter stated at cost. 2.12 Taxation As a cha rity, the charitable company is not liable to Corporation Tax. 3. GOING CONCERN The company is dependent on related company funding. On this basis, a material uncertainty exists that may cast significant doubt on the companws abilityto 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 d irectoi-s have had d iscussions with the related company 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 fina ncial statements do not include any adjustments that would result f rom the discontinuance of related company funding, or its reduction to an inadequate level. 12
Willowbank Organic Producers Limited (Charitable Company Limited by Guarantee) Company Rebnstration Number: N1049935 Charity Registration Number: 101845 NOTES TO THE FINANCIAL STATEMENTS Forthe earended 31 March 2023 continued 4. INCOMEAND ENDOWMENTS Unrestrirted Restrlcted Funds Funds Total Unrestricted Restricted Funds Funds Totsl Funds Funds 2023 2023 2023 2022 2022 2022 Charitable Attivities Grants Total Income from Charitable Artivities Unrestrirted Restritted Funds Funds Total Unrestricted Restricted Funds Funds Funds Totsl Funds 2023 2023 2023 2022 2022 2022 Other Trading Attivities Horticulture Services 9,697 9,697 13,684 289 13,684 289 Job Retention Scheme Provision of training Total Income from Other Trading Activities 675 675 10,372 10,372 13,973 13,973 13
Willowbank Organic Producers Limited (Charitable Company Lirnited by Guarantee) Company Reglstratitin Number: NK)49935 Charlty Registiation Number.. 101845 NOTES TO THE FINANCIAL STATEMENTS For the ear ended 31 March 2023 continued RESOURCES EXPENDED Unrestrirted Restrirted Funds Funds 2023 2023 Totsl Unrestrirted Restrirted Funds Funds Funds 2022 2022 Total Funds 2022 Charitable Activities Purchases Wages and Salaries Insurance Advertising Motor and Travel Bank Charges General Expenses Repairs and maintenan Depreciation Independent Examiner's Remunerat 1882 5,953 S,309 2,492 1,498 106 1,579 5,953 1,820 2,492 1,498 106 1,579 1.ts17 153 I,fyT7 153 57 244 57 1,078 1,078 220 1,020 992 293 1,029 1,322 Totsl ReSoUrS Expended 13,580 772 14,352 13,603 1,029 14,632 14
Willowbank Organic Producers Limited (Charitable Company Limited by Guarantee) Company Registration Number: N1049935 Charity Registration Number: 101845 NOTES TO THE FINANCIAL STATEMENTS For the ear ended 31 March 2023 continued & SUPPORTCOSTS Unrestrtrted Restricted Funds Funds 2023 2023 Total Unrestricted Restricted Funds Funds Funds 2023 2022 2022 Total Funds 2022 Charitable Artivities Staff Costs Premises Genera l Ofpice Fi nance Costs 5,953 1,820 S7 5,953 1,820 57 153 2,492 1,498 1,078 168 2,492 1,498 1,078 168 153 Total Support Cost5 7,983 5,236 7. NETINCOME/EXPENDITURE FOR THEYEAR Net IncomeJlExpenditurel is stated after charging: 2023 2022 Depreciation 992 1,322 15
Willowbank Organic Producers Limited (Charitable Company Limited by Guarantee) Company Reglstratlon Number: N1049935 Chzrity Registration Number: 101845 NOTES TO THE FINANCIAL STATEMENT5 Forthe ear ended 31 March 2023 continued 8. INDEPENDENT EXAMINER'S REMUNERATION 2023 2022 Independent Examiner's Remuneration SeNices 1.020 1,020 9. STAFF COSTS AND EMPLOYEE BENEFITS The average number of persons employed by the charitable company during the year was I12022= 11 The total staff costs and employee benefits were as fol lows= 2023 2022 Gross Wages and Salaries Social Security Costs Staff Pension Costs 5,953 2,492 5,953 2,492 No employee of the charitable company received total employee benef its of more than £60,tm. 9.1 Dirertors, Remuneration The dirertors received nor waived any remuneration or any other benefits during the year and no rei mburserr of expenses i ncurred. 10. TANGIBLE ASSErs Plant and Flxtures Machineryand Fittings Total Cost At 31 March 2022 At 31 March 2023 39,533 39,533 9,668 9,668 49,201 49,201 Depreciation At 31 March 2022 Charge f or year At 31 March 2023 36,855 669 8,378 323 45,233 992 37.524 8.701 46.225 Carrying Amount At31 March 2023 967 2,976 At 31 March 2022 2,678 1,290 3,968 16
Willowbank Organic Producers Limited (Charitable Company Limited by Guarantee) Company Registration Number: N1049935 Charity Registration Number: 101845 NOTES TO THE FINANCIAL STATEMENTS For the earended 31 March 2023 continued 11. INVENTORIES 2023 2022 Good5 for Resale 2.000 2,000 00 12. RECEIVABLES 2023 2022 Trade Receivables Other Debtors 397 397 13. PAYABLES: AMOUNTS DUE FALLING wrrHIN ONE YEAR 2023 2022 Trade Paya bles A£curals Other Taxes and Socia I Securities 960 1,380 960 1,380 14. ANALYSIS OF ASSErs Unrestrirted Re5trirted Funds Funds Total Funds Fixed Assets Current set$ Currenttiabilities Net Assets 661 31,649 -960 31350 2,315 2,976 31,649 -960 33,665 17
Willowbank Organic Producers Limited (Charitable Company Limited by Guarantee) Company Registratlon Number: NN)49935 Charity Registration Number: 101845 NOTES TO THE FINANCIAL STATEMENTS For the earended 31 March 2LT23 continued 15. ANALYSIS OF FUNDS Opening Balan Income Expenditure Transfer Between Funds Closing Balan Santander Foundation Awards for All Community Foundation for Nl Macbook Grant DSRBS Legacy Fund Chal lenge Fund Total Restricted Fund5 61 -15 -112 -395 -250 334 1,579 I,ooi 751 2,315 Unrestricted Funds 34,558 10,372 -13.580 31,350 Total 37,645 10.372 -14,352 33,665 16. CONTINGENT LIABILITIES A contiy)gent liability exists to repay grants received should certain conditions not be f ulfil led by the charitable company. 18