COMPANY REGISTRATION NUMBER: N1041640
CHARITY REGISTRATION NUMBER: XR48423
Wheelworks
Company Limited by Guarantee
Financial Statements
31 March 2025
Finegan Gibson Ltd
Chartered accountants & statutory auditor
Causeway Tower
9 James Street South
Belfast
BT2 8DN

Wheelworks
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2025
Page
Trustees, annual report (incorporating the directorfs report)
Independent auditor's report to the members
12
Statement of financial activities (including income and
expenditure account)
Statement of financial position
Notes to the financial statements
18
19
20
The following pages do not form part of the financial statements
Detailed statement of financial activities
31
Notes to the detailed statement of financial activities
32

Wheelworks
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report)
Year ended 31 March 2025
The trustees, who are also the directors for the purposes of company law. present their report and th8
financial statements of the charity for the year ended 31 March 2025.
Reference and admlnistrative details
Registered charlty name
Wheelworks
Charity registration number
XR48423
Company registration number N1041640
Principal office and registered 4c Weavers Court 8usiness Park
office
Linfield Industrial Estate
Linfield Road
Belfast
BT12 5GH
The trustees
J Mills
A Connolly
Dr U Baneryee
MDufy
K McKnight
H Mullan
S Jarvis
J King
C Quigg
(Resigned 18 August 2025)
(Appointed 25 June 2024)
(Appointed 25 June 2024)
(Appointed 25 June 2024)
Company secretary
Katherine McKnight
Auditor
Finegan Gibson Ltd
Charter8d accountants & statutory auditor
Causeway Tower
9 James Street South
Belfast
BT2 8DN
Bankers
Danske Bank
PO Box 183
Donegall Square West
Belfast
BT16JS
Sollcitors
O'Hare Solicitors
3741 High Street
Belfast
BT12AB

Wheelworks
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (contlnuedj
Year ended 31 March 2025
Structura. governance and managemenl
Governlng Document
Wheelworks is a company limited by guarantee govemed by its Memorandum and Artlcles of
Association dated 1 st october 2001. Wheelworks is a registered charity with the Charity Commission
for Northern Ireland. Wheelworks is a m6mbership organisation with currently 9 members. each of
whom ag￿e$ to contribute £1 in the event of the charity winding up.
Appolntment of trustees
The Chairman and the Trustees recruit and select new Trustees as needed. New Trustees are
recruited on the relevance of their professional skills, and their potential to be able to make a helpful
contribution to the governance of the charity. As part of the recruitment process they are made aware
of a Trustees, legal obligations under charity and company law. the content of the Memorandum and
Articles of Association, the committee and decision making processes. the business plan and recent
financial performance of the charity.
Oncè tha potenlial new Trustee has agreed to be considered for appointment to the role. the Trustees
meet to review and to vote on the candidates, suitability for appointment. If the￿ is unanimous
agreement. their names are then proposed for appointment in one of the scheduled board meetings.
Oryanisation structure and how charity makes decisions
The board of trustees. which can have up to 15 members. administers the charity. The board normally
meet between 4-6 times annually and there are now sub-committees covering development.
governance, HR, finano and whioh normally meets between 24 times annually. A CEO is appointed
by the trustees to manage the day-to-day operations of the charity. To facilitate effective operations,
the CEO has delegated authority, within terms of delegation approved by the trustees. for operational
matters including finance. employment and direct charitable activities. We have referred to the
guidance contained in the Charity Commission'5 general guidance on public banefit when reviewing
our aim and objectives and in planning our fijture activities. In particular, the trustees consider how
planned activities will contribute to the aims and objectives they have set.
Relationships with related parties
None of our trustees re￿1ve remuneration or other benefit from their work with the charity.
Risk management
Th8 trustees have a risk management strategy which comprises:
an annual review of the principal risks and Un￿rtaIntieS that the chartty faces.,
the establishment of policies, systems and procedures to mitigate those risks identified in the
annual review- and
the implementation of procedures designed to minimise or manage any potential impact on the
charity should those risks materialise.

Wheelworks
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (¢ontInu￿)
Year ended 31 March 2025
Objectlves and actlvltles
Whe81Works Arts as a regional youth arts charity slncè 1995 has b88n supporting children and young
people's social cultural and creative educational development through a¢¢essible and innovative
community-based programmes which provide a creative fusion of traditional and digital art forms.
harnessing the arts for learning, change and giving young people a voice.
As a leading youth arts charity, we are known for offering innovative youth led projects in which
participants engage in expressing and exploring their individuality and uniqueness through traditional
and digital artforms by mobilising the arts and bringing them into communities across Northern Ireland.
Our core vision is to 'Forge new creative, exciting. and inclusive spaces that inspire and empower
young people and their communities to express what matters to them,.
Our core aims and objectives below are the pillars upon which Wheelworks Arts is bullt:
To create and facilitate innovative. high-quallty arts activity.. We are committed to pushing
creative boundaries and delivering exceptional programs.
To create opportunities for children and young people (ages 4-25) to 8ngag8 in creative practice:
We believe every young person deserves a chance to explore their creativity, regardless of their
background.
To facilitate local communities to engage in high-quality arts experiences: We actively seek out
and serve communities with low engagement. particularly in rural and socially deprived areas.
To build resilience and capacty in the wider artslcommunitylyouth sector: Through training,
collaborations and mentoring, we empower artists, our workforce. and other organisations to
better seNe young people and their wider communty.
In a society still h8aling from conflict, grappling with inequality and changing demographic landscape,
our programmes and services are tools for transformation with focus on using creative outlet for
enjoyment. learning and sharing.
To achieve these visions and aims we will focus on the following core strategic outGomes=
Expand Access to Arts Participation. Reach marginalised youth through inclusiv8, arts and
tech-enhanced programming,
Empower Youth in Creative Careers. Build pathways into the creatEve sector through arts and
technology combined project participation, training and mentorship.
Grow Youth Leadership. Expand youth volunteerism and influence through structured youth
leadership development programmes and support.
Strengthen Community Capacity. Co-design programmes and services with youths and
communities to transfer creative skills and knowledge sharing.
Advance Artist & Staff Expertise. Invest in professional development and experimental arts
practice.
Develop Sustainable programmes and SeNi¢es. Generate income via digital arts experiences.
TS3 courses. and studio hire.
The key impacts we seek to bring in the young people with whom we work are: .
Key life/work skills." Development of positive relationships with olh8rs such as better team
working, positive peer relationships, increased communication skills with trusted adults.
Attitudinal Skills." To enhance individual capabilities such as gainin9 ¢onfid8nce, managing own
feelings. build resilience. abllity to make healthy Choices increased aspirations.
Personal skills.. Development of thinking skills such as respect for differen￿. decision making
and satisfaction with own lifelself.

Wheelworks
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) {¢onllnuo(1)
Year ended 31 March 2025
Creative skills." Develop enjoyment in learning new things such as art and tech led participation,
planning and problem solving. pride in creative outputs and skills of arts and digital technology
led learning.
To build stronger relationships, improve our visibility and increase impacts we have consultations and
c￿reate sessions to know and understand the needs of the groups and support networks we
collaborate with. Through these engagements we broaden our knowledge base, support better
coordinated activilies, increase collaboration on the ground. enhancing participation. empowering the
young people, which increases positive impacts.
The impact and quality of our activity is demonstrated by the collaboration and relationships we have
built over the years and securing a diverse range of funding streams for both core and project work. In
the year 2024-25 we embraced the challenge and responded to the changing needs of the young
people and their community by strengthen this relationship and broadening our partnership with over
80 current and new partner organisalions across Northern Ireland. We continu8 to be strategic in
planning and securing funding to safeguard the creative work and our continues to be placed on
accessibility, reachability, innovation. inspiration, positive outcomes. and good values.
Wheelworks, charitable mission continues to be delivered und8r these core strands:
Artcart & Chillcart Creative Outreach programmes." A mobile arts studio rolling into a
neighbourhood where arts a￿sS is limited. That's Artcart, a vibrant. mobile outreach programme that
brings crèative joy and involvernent directly to communities. Whether ivs a pop-up arts and craftlmural
worksho p, a digital music jam. or a coding sasslon In a car park, Artcart transforms public spaces Into
hubs of expression.
Artcart Outreach Programme
Summer STEAM Roadshow
Future Focus Chillcart Outreach
Youth & Communlty Transft+miatlon Pmgrammes.. Programmes like iProgramme. ReAct, and
T=BUC imusic Camp use arts to address identity. positive relationships. good relations building and
social justice. TBUC Camps like OnTrack, StepTogether. and Future Focus plus build cross
community connections. peer leadership and resilience. These programmes are a platform for
relationship building, wellbeing and growth.
iProgramme
ReA
T:BUC imusic Camp
OnTrack Summer Camp
Future Pocus Plus
stepTogether
Incluslon and Integration Pmgrammes." With rising immigration and cuttural dNersity, Wheelworks
leads in creative inclusion. It's not just about space to connect but integrate to progress and celebrate
diversity
Newcommer youth Arts intervention
Voices of Diversity
ReThinkJChangeMaker
Youth Leadership pmgramme." Through these leadership programmes youth shape, evaluate
impact, and advocate for arts access and creative section participation. These Initiatlves assist

Wheelworks
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (¢onllnu¢d)
Year ended 31 March 2025
participants into leaders, decision makers, creators, and influencers.
New Na￿ative youth leadership
Creative Influen￿r$ Volunteering
Tech Studio & Dlgltal Arts Prngrammes.. Techstudio offer VR, AR, and digital production
experiences and courses to build employability skills in film making, animation, coding. and music.
Tech Studio Hire
TS3 educational courses in digital arts and new media
Creative and digitsl arts events
Trailblazer Digital Arts school prog
Through collaborating G105ely with our grassroots partners, we are Committed to advancing our
Co-design model of participation with young people. Every facet of our work is interconnected and
interdependent hen￿ we acknowledge the challenges and collectively work towards upholding our
core values: a rights-based approach, a commitrnent to excellen￿, flexibility. and innovation.
Together with young people and their communities. we are dedicated to ensuring that our creative
engagement is youth-led and relevant. To achieve this. we continue to apply a co-design model of
participation. allowing young people to take charge of decisions and express their interests. This
ensures that we are responsive to their need5 and aspirations from the very beginning.

Wheelworks
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (contlnued)
Year ended 31 March 2025
Achievements and performance
We are grateful to our stakeholders and funders and hugely appreciate their support In beli8ving in our
creative programmes designed specifically to engage young people through an arts led learning
model. Th8ir funding opens opportunities for underserved young people. to experience and be
Inspired by the arts and innovative design technologies as they take part in fun and creative activities.
based around the reality of each young person's situation.
As a regional youth arts organisation, we continue to support children and young people's personal,
social and cultural development through accessible and innovative community-based programmes
which provide a creative fusion of traditlonal and digital art form5. hames5ing the arts for learning,
change. and giving young people a voice.
We are pleased with our accomplishment between 2024-25. despite the many uncertainties and
challenges we have faced. including funding Cuts, rèductions in funding call and increased
competitions. These are the highlights of our year across artistic, community, strategic and operational
areas. Wheelworks Arts 2024-25 accomplishments in¢lude'.
7.610 young people aged 4 to 25 participated.
313 in-person workshops.
15.390 hours of in-person participation.
10 festivals.
20 exhibitionslcelebration 8vents.
6 volunteers dedicating over 50 hours of services to our charitable mission.
5 new artists recruited.
556 Contracts offered to our artists. in both digital and visual artforms. enabling Wheelworks to
broaden the diverse rang8 of innovative and hybrid workshops to our participants across
Northern Ireland.
A total of 30.248 people reached.
In 2024-25. we nurtured our relationships with over 73 voluntary and community. youth. and school
partners.
Voluntary and community, youth, and school partners. These included Shamrock Youth Club, Oasls
Youth Centre, Clann Eirann Youth. Rainbow Refugees Nl. Crumlin Community Hub. L.O.R.A.G.. Glen
Parent Daycare, Doyle Youth Centre. Tobin Centre. Ballybeen Women's Centre Connswater
Community Centre. Randalstown Arches Association. Atlas Centre. Cedar Lodge School, Warrenpoint
Hall 4 All. Finaghy Youth Centre, Clonduff Youth Club. St Colm's High School, The Spectrum Centre,
Peter Froggatt Centre. South-eastern Regional College Nevrtownards. Newry Youth Resource Centre,
Epicentre Youth Club, St Mary's Youth Centre. South Lake Leisure C8ntre, Amma Centre, Northern
Regional College, Greenhill YMCA, Dungannon Youth Resource Centre, Cookstown High School,
Holy Trinity College. Magherafelt Youth Centre. Newry Street Unite. Patrician Youth Centre.
Cookstown Rural Network C8ntre, Inv8rary Communty Centre, Foster Car8 Associates, Derrybeg
Community Centre. Morton Community Centre. Translink, Fane Street Primary School, Donegal Road
Primary School, Tannaghmore Primary School, and Longstone Special School. We continue to
strengthen these relationships and also broaden our engagement. reaching out to new partners
across Nl. We hope to strength8n Ihis relationship, and will b8 looking to also broad8n our
engagement. reaching out to existing and new partners across Nl.

Wheelworks
Company Limited by Guarantee
Trustees. Annual Report {Incorporating the Directorfs Report) (contlnued)
Year ended 31 March 2025
Financial review
The totsl funding for the Core funding remained the same with support from the Arts Council of
Northern Ireland (principal funderl under its Annual Funding Programme. Garfield Weston, TBUC and
Belfast City Council for our project funding. The annual income for 24-25 is lower than previous year
as in that year we were able to secure £30k funding from ACNI'S Health and Safety Capital grant
towards Artcart solar conversion and digital equipment upgrade.
We know the power of arts and how it transcends language and cultural barriers. allowing us to
connect with diverse communities, building relationships and partnerships to work together to support
the creative needs of the young people across Northem Ireland. In 2024-25, we nurtured our
relationships with 73 voluntary and community. youth. and school partners. The demand for our work
outstrips our capacity in tarms of funding and the staff resourc&s wè requir8 to d81iver quality seNices
to our beneficiaries.
Wheelworks staff and management teams continue to be proactlve in pursulng new opportunitles.
co-designing and cwreating innovative funding proposals and submitting funding applications to
secure much needed resources in meeting the organisation's charitable mission.
The financial position of a youth arts charity like Wheelworks working viith underserved communities
Is particularly difficult because of our reliance on external funding and the vulnerability of the
beneficiaries we serve. Income streams such as grants, donations. and sponsorships are highly
competitive and often subject to cuts during current economic downturns, high inflation and limited
growth.
Yet the operational costs continua to rise, coverfng staff salaries. venue hire, materials, and outreach
programs while maintaining measurable impact and innovation. which require additional investment in
monitoring and digital tools. Due to the short tim8 funding cyclas, we face uncertainty year on year
hence making long term planning. securing investment for resourcelequipment upgrading and
stafflartists development is diffiGult.
Yet due to the dedication and hard work from the staff and artists, support from the ACNI. BCC,
Garfield Weston, TBUC and Nl Executive. we were fortunate to secure much needed funding for our

Wheelworks
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) f¢ontlnued)
Year ended 31 March 2025
work while also sustaining service income levels during 2024-25. In 24-25 our turnover was £419,808
and artists artistslfacilitators contrad value were £95,978k.
Moving forward, Wheelworks acknowledges that flexibility. collaboratlon and diversification to generate
increased level of service income will be a major element in reshaping our current funding mod81 and
mitigating some of the risks and impacts of future funding cuts.
With support from our core funders and strong leadershlp from our trustees. staff, artistslfacilltators,
and volunteers we hope to ensure inclusion, accessibility, equality, and a sense of hope for the young
people and their communitles.
Going forward, we will continue to advance our strategi¢ visions by sharpening our focus on
co-designing creative activities that are of inter8St to young peop18, increasing income for the
freelance artists. championing the value of our creative sector and developing and supporting the
workforce. This will assist us to remain innovative, and transformative as we continue to inspire young
people through varied arts and technology led mediums.
Reserves policy and going concern
ReseNes are needed to bridge the timing gap between spending and receiving of income and to cover
unplanned temporary shortfalls in in¢ome should they arise. Holding adequate reserves safeguards
Ihe provision of our services in the event of unexpected significant financial pressures. Given the
current economic uncertainties experienced by organisations like ours due to high inflation, lack of
government funding for the arts sector, the trustees consider that the ideal level of reserves to now be
behyeen six to nine months expenditure. which for the year ended 31 March 2025 would be be￿een
£206,723 and £310,085 .
Unrestricted reserves freely available to spend, therefore excluding fixed assets, restricted reserves
and designated reserves amounted to £255,899, Th8 trustees believe this represents a sufficient level
of reseN8 to ensure that the going concem assumption is appropriate. Wheelworks have designated
£130.000 allocated as follows..
Office Relocation cost.. £80.000
Salary support Cost: £25,000
Equipment upgradelcapital expenditure: £25,000

Wheelworks
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (conllnuedj
Year ended 31 March 2025
Plans for future periods
Way Forward
Reftectlng on the period 2024-2025. we feel positive to have been able to secure the level of funding
and income to enable us to maintain the servic8s and income level as per the last financial year. Our
priority is not just to grow and strength our organisation but ensuring that we engage with those young
people who, because of the pandemic. funding Cuts and reduction in youth-led extracurricular
provisions, have found themselves more vulnerable or unsupported.
Art is a powerful force that has the potential to transform lives, uplift spirits. and bridge gaps. It is
through art led parli¢ipation and learning we want the young people and their communities to share
and express their f881ings and interests, as it has an unparalleled ability to connect. engage and
inspire people.
We know that the third and voluntary sectors Sin￿ the pandemic are in an extremely tough financial
landscape. at a time when more and more young people find themselves at the margins of our society
and need our support more than ever. To ensure these youths. and the communities they live in, are
not left to fend for themselves, and to ensure that we continue to collaborate to empower the youths
through arts and innovation. we continue to emphasise the importance of culture and arts in
addressing our most complex social and economic challenges while keeping the focus on strategic
priorities that ensure sustainability. impact and growth. Currently we are progressing and working on
these key strategic areas:
Build alliances and engage with decision makers to amplify the importance of arts for
marginalised youth to assert extemal influence and public visibility
Showcase the importance of engaging young people using visual and digital arts for skills,
education. and wellbeing
Develop best practices in digital technology and arts-led practices and upskilling
artistsleducatorslyouth workerslteachers
Up5killing our iwill volunteers to get the opportunity to team up with stafflartists to co-create and
test new activities. This ensures that the vol￿5 of Ihe young people we serve are captured and
applied in decision-making proc8SS8S
Applying co design model with idea generation to capture their interests and voices as they
become ￿ntral in decision making process. Empower them to take leadership roles within their
projects, thus fostering a sense of ownership and resilience
Diversify and pilot earned income models to increase opportunities in service led income
Reach out to businesses. especially those with corporate social responsibility (CSR) goa15
aligned with youth and community work. diversity, or arts education. Tailor social value service
proposals show how the partnership can enhance their brand values
To increase Gross-sector collaboration and partnerships to show how creative and digital arts
learning can align with broader outcomes. such as good relations, wellbeing employability hence
open opportunities to attract non-arts funding streams
Sharing of qualitative impact stories from participants to showcase how the arts provide a
platform for expression, engagement, and social mobility for marginalised youth
Build Capacity by investing in stafflfacilitator training and development to enhance skills and
improve efficiency and offer high quality work
We will continue to progress our strategic vision to support future developments in codesigning
innovative proje¢tsloffers. We want to Capture fresh ideas, opinions, and approaches to service
delivery: we know that developing, promoting. and implementing these new strategies will allow us to
respond to the changing needs, be flexible, tactical to secure proper support which can h8lp in

Wheelworks
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (¢ontlnu8dJ
Year ended 31 March 2025
protecting and progressing the work we offer to the young people through creative expression, digital
story sharing. and arts activity. This is part of the process for building stability and resilience as we
move fo￿ard, continue to adapt. be innovative and stay relevant with the wishes and ambitions
eXp￿Ssed by our service users and young beneficiaries.
Trustees. responsibilities statement
The trustees. who are also directors for the purposes of company law. are responsible for preparing
the trustees, report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statements for each year which give a
true and fair view of the state of affairs of the charitable company and the incoming resources and
application of resources, including the income and expenditu￿, for that period.
In preparing these financial statements. the trustees are required to:
select suitable accounting policies and then apply them consistenlly.,
obsarve the methods and principles in the applicable Charities SORP:
make judgments and accounting estimates that are reasonable and prudent"
prepare the financial statements on the going concern basis unl8SS it is inappropriate to presume
that the charity will continue in business.
The trustees are responsible for keeping adequate accountlng records that are sufficient to show and
explain the charity's transactions and disclose with reasonable accuracy at any time the financial
position of the charity and enable them to ensure that the financial statements comply with thè
Companie5 Act 2006. They are also responsible for safeguarding the assets of the charity and hence
for taking reasonable step5 for the prevention and detection of fraud and other irregularities.
Auditor
Each of the persons who is a trustse at the date of approval of this report confirms that..
so far as they are aware. there is no relevant audit information of which the charity's auditor is
unaware; and
they have taken all steps that they ought to have taken as a trustee to make themselves aware of
any relevant audit infomiation and to establish that the charity's auditor is aware of that
information.
10

Wheelworks
Company Limited by Guarantee
Trustees. Annual Report {Incorporating the Directorfs Report) {contlnue(l)
Year ended 31 March 2025
Small company provisions
This report has been prepared in accordance with the provisions applicable to compani8s entitled to
the small companies exemption.
The trustees, annual report was approv8d on 24 November 2025 and signed on behalf of the board of
trustees by..
J Mills
Trustee
M Duffy
Twstee
11

Wheelworks
Company Limited by Guarantee
Independent Auditor's Report to the Members of Wheelworks
Year ended 31 March 2025
Opinion
We have audited th8 financial ststem8nts of Wheelworks (th8 'charity') for the year ended
31 March 2025 whlch comprise the statement of financial activities (including income and expenditure
account), statement of financial position and the related notes, including a summary of significant
accounting policies. The financial reporting framework that has been applied in their preparation is
applicable law and United Kingdom A¢¢ounting Stsndards, including FRS 102 The Financial Reporting
Stsndard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted
Accounting Practi￿).
In our opinion the financial ststements:
giva a true and fair view of the state of the charity's affairs as at 31 Ma￿h 2025 and of its
incoming resources and application of resources, including its income and expenditure, for the
yaar then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice-
hav8 bèèn prepared in accordance with the requirements of the Companies A¢t 2006.
Basis for opinlon
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and
applicable law. Qur responsibilities under those standards are further described in the auditorfs
responsibilities for the audit of the financial statements section of our report. We are independent of
the charity in accordance with the ethical requirements that are relevant to our audit of the financial
statements in the UK, including the FRC'S Elhical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirement5. We believe that the audit evidence we have
obtained is sufficient and appropriat8 to provide a basis for our opinion.
Conclusion5 relating to going concorn
In auditing the financial statements. we have concluded that the trustees. use of the golng COn￿M
basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to
events or Gonditions that. individually or collectively. may cast significant doubt on the Gharity's ability
to continue as a going concern for a period of at least twelve months from when the financial
statements are authorised for issue.
Our responsibilitl8s and the responsibilities of the trustees with resped to going concem are d8scrfbed
in the relevant sections of this report.
12

Wheelworks
Company Limited by Guarantee
Independent Auditor's Report to the Members of Wheelworks (contlnu•d)
Year ended 31 March 2025
Other infomiation
The other information comprises the information included in th8 annual report, other than the financial
statements and our auditor's report thereon. The trustees are responsible for the other information.
Our opinion on the financial Statements does not cover the other infomiation and, except to the extent
otherwise explicitly stated in our report, we do not express any form of assurance ¢on¢lusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
information and, in doing so. consider whelher the other information is materially inconsistent with the
financial statements or our knowledge obtained in the audit or otherwise appears to be materially
misstated. If we identify such material inconsistencies or apparent material misstatements, we are
required to determine whether there is a material misstatement in the financial statements or a
material misstatement of the other infomiation. If, based on the work we have performed, we conclude
that there is a material mlsststement of this other information, we are required to report that fa¢t.
We have nothing to r8POrt in this r8gard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion. based on the work undertaken in the course of the audit:
the information given in the trustees, report for the financial year for which the financial
statements are prepared is Gonsi5tent with the financial statements; and
the trustees, report has been prepared in accordance with applicable legal requirements.
Matlers on which we are required to report by exception
In th8 light of the knowledge and und8rstanding of the charity and its enwronment obtsined in the
course of the audit, we have not identified matertal misstatements in the trustees. report.
We have nothing to report in respect of the following matters In relation to which the Companies Act
2006 requires us to report to you if. in our opinion:
adequate accounting records have not been kept, or retums ad8quate for our audit have not
been received from branches not visited by us,. or
the financial statements are not in agreement with the accounting records and returns: or
certain disclosures of trustees, remuneration specified by law are not made. or
we have not rec8ived all th8 information and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance wsth the small
companies regime and take advantage of the small companies. exemptions in preparing the
directors, report and from the requirement to prepare a strategic report.
13

Wheelworks
Company Limited by Guarantee
Independent Auditor's Report to the Members of Wheelworks (contlnued)
Year ended 31 March 2025
Responsibilities of trustees
As explained more fully in the trustees. r8sponsibllltles stat8m8nt. th8 trust88s (who are also the
directors for the purposes of company law) are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as
tha trustees determine is necessary to enable the preparation of financial statements that are free
from material misstatement. whether due to fraud or error.
Our responsibility is to audit and express an opinion on the financial statements in accordance with
applicable law and International Standards on Auditing (UK). Those standards require us to comply
with the Financial Reporting Council's (FRC'S) Ethical Standard for Auditors,, in the circumstances set
out in note X to th8 financial statements.
In preparing the financial statements. the trustees are responsible for assessing the Charity's ability to
¢ontinue as a going concern, disclosing, as applicable, matters related to going concern and using the
going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease
operations, or have no realistic alternative but to do so.
14

Wheelworks
Company Limited by Guarantee
Independent Auditorfs Report to the Members of Wheelworks (contlnuedj
Year ended 31 March 2025
Auditorfs responsibilities for the audlt of the flnancial statements
Our objectives a￿ to obtain reasonable assuranc8 about whether the financial statements as a whole
are free from material misstatement, whether due to fraud or error. and to issue an auditorfs report that
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that
an audit conducted in accordance with ISAS {UK) will always detect a material misstatement when it
exists. Misstatements can arise from fraud or error and are considered material if, individually or in the
aggregate, they could reasonably be expected to influence the economic decisions of us8rs taken on
the basis of these financial statements.
Irregularities. including fraud. are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above. to detect material misstatements in respect
of irregularities. including fraud. The extent to which our procedures are capable of detecting
irregularities. including fraud is detailed below:
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud
and non-compliance with laws and regulations, we considered the following:
the nature of the industry and sector, control enwronment and business performance including
the design of the remuneration policies. key drivers for direGtors' remuneration, bonus levels and
perfomiance largets:
results of our enquiries of management about their own identification and assessment of the risks
of irregularities.
any matters we identif18d having obtained and reviewed documentation of their policies and
procedures relating to:
idèntifying, evaluating and complying with laws and regulations and whather
management were aware of any instances of non-complian￿.
detecting and responding to the risks of fraud and whether management have
knowledge of any actual. suspected or alleged fraud;
the internal controls estsblished to mitigate risks of fraud or non-compliance with laws
and regulations.
the matters discussed among the audit engagement team including significant component audit
teams and relevant intemal specialists. including tax and valuations specialists regarding how
and where fraud might occur in the financial statements and any potential indicators of fraud.
As a r8suIt of these procedures. we considered the opportunities and in¢entlV8S that may exist within
the organisation for fraud and identified the greatest potential for fraud. In common with all audits
under ISAS {UK). we are also required to perform specific procedures to respond to the risk of
management override.
We also obtained an understsnding of the legal and r8gulatory frameworks in operation. focusing on
provisions of those laws and regulations that had a direct effect on the determination of material
amounts and disclosures in the financial statements. The key laws and regulations we considered in
this context included ongoing complianc8 Wlth the UK Companies Act and tax legislation.
In addltlon, we considered provls5ons of other laws and regulations that do not have a direct effect on
the financial statements but compliance with which may be fundamental for their ability to operate or to
avoid a material penalty.
15

Wheelworks
Company Limited by Guarantee
Independent Auditorfs Report to the Members of Wheelworks (¢ontlnued)
Year ended 31 March 2025
As part of an audit in accordance with ISAS {UK), we exercise professional judgment and maintain
professional s¢epti¢ism throughout the audit. We also-.
Identify and assess th8 risks of material misstatement of the financial statements, whether due to
fraud or error. design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not
detecting a material misstalement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion. forgery, intentional omissions, misrepresentations, or the override
of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the intemal Control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the trustees.
Conclude on the appropriateness of the trustees. use of the going concern basis of accounting
and, based on the audit evidence obtained. whether a material uncertainty exists related to
events or conditions that may cast significant doubt on thè charity's ability to continue as a going
Concern. If we conclude that a material uncertainty exists, we are required to draw attention in
our auditorfs report to the related disclosures in the financial statements or, if such disclosures
are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained
up to the date of our auditorfs report. However, fubjre events or conditions may cause th8 charity
to Cease to continue as a going concem.
Evaluate the overall presentation, structure and content of the financial statements. including the
disclosures. and whether the financial statements represent the underlying transactions and
events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding. among other matters. the planned
scope and timing of th8 audit and significant audit findings. including any significant deficiencies in
internal Gontrol that we identify during our audit.
16

Wheelworks
Company Limited by Guarantee
Independent Auditor's Report to the Members of Wheelworks (¢onllnu8d)
Year ended 31 March 2025
As explained more fully in the Trustees. Responsibilities Ststem8nt (set out on page 10), the trustees
are responsible for the preparation of the financial statements and for being satisfied that they give a
true and fair view. Our responsibility is to audit and express an opinion on the financial statements in
accordance with applicable law and International Standards on Auditing (UK). Those standards
require us to comply with the Financial Reporting Council's (FRC'S) Ethical Stsndard for Auditors,. In
the Clrcumstsn￿S set out in note 20 to the financial statements.
Use of our report
Thls report Is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part
16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the
¢hariVs members those matters we are required to state to them in an auditoffs report and for no
other purpose. To the fullest extent permitted by law. we do not a¢¢ept or assume responsibility to
anyone other than the charity and the Gharty's members as a body, for our audit work. for this report.
or for th8 opinions w8 hav8 fonned.
Paul Dolan FCA (Senior Statutory Auditor)
For and on behalf of
Finegan Gibson Ltd
Chartered accountants & statutr)ry auditor
Causeway Tower
9 James Street South
Belfast
BT2 8DN
24 November 2025
17

Wheelworks
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2025
2025
Restricted
funds Total funds Total funds
2024
Unrestrided
funds
Note
Income and endowments
Donations and legacies
Charitable activities
Othar income
2,777
20.000
55,354
78,131
2.777
361.677
55.354
32
386.316
53,468
439,816
341,677
Total Income
341,677
419,808
Expenditure
Expenditur8 on charitsble activities
Total expenditure
71.769
341.677
413.446
414.014
71.769
341.677
413,446
414,014
Net income and net movement In funds
6.362
6,362
25,802
Reconciliation of funds
Total funds brought forward
Total funds carried forward
411,694
411,694
385,892
418,056
418,056
411,694
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 20 to 29 fomi part of thèse flnanclal statements.
18

Wheelworks
Company Limited by Guarantee
Statement of Financial Position
31 March 2025
2025
2024
Note
Flxed assets
Tangible fixed assets
13
32,157
44.634
Current assets
Debtors
Cash at bank and in hand
14
157,138
253,165
161.549
219.464
410,303
381,013
Creditors: amounts falllng due wlthln one year
Net current assets
15
24,404
13.953
385,899
367,060
Total assets less current liabilities
418,056
418,056
411,694
411,694
Net assats
Funds of the charity
Unrestricted funds
418,056
411.694
Total charity funds
17
418,056
411,694
Thase financial statements have been prepared in a¢¢ordan¢e wilh thè provisions applicable to
companies subject to the small companies, regime.
These financial statements were approved by the board of trustees and authorised for issue on 24
November 2025, and are signed on behalf of the board by:
J Mills
Trustee
M Duffy
Trustee
Thg notss on pages 20 to 29 form part of Iho$9 financlal statements.
19

Wheelworks
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2025
Genaral information
The charity is a public benefit entity and a private company limited by guarantee. r8gistered in
Northern Ireland and a registered charity in Northern Ireland. The address of the registered office
is 4c Weavers Court Business Park. Linfield Industrial Estate. Linfield Road. Belfast, BT12 5GH.
Statement of compllance
These financial ststements have been prepared in compliance with FRS 102, The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities
SORP (FRS 102)) and the Companies Act 2006.
Accounting policies
Basis of preparation
The financial slatements have been prepared on the historical cost basis. as modified by the
revaluation of certain financial assets and liabilities and inv8Stment properti8s measured at fair
value through income or expenditure.
The financial statements are prepared in sterling. which is the functional currency of the entity.
Going concern
The￿ are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertalnty
The preparation of the financlal statements requires management to make judgements.
estimates and assumptions that affect the amounts reported. These estimates and judgements
are continually reviewed and are based on experience and other factors. including expectations
of fvture events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the
charity's purposes.
Designated fvnds are unrestricted funds eamiarked by the trustees for particular fijture project or
commitment.
Restricted funds are subjected to restridlons on their expendlture declared by the donor or
through the temis of an appeal, and fall into one of sub-classes.. restricted income funds or
endowment funds.
20

Wheelworks
Company Limited by Guarantee
Notes to the Financial Statements (conllnuedj
Year ended 31 March 2025
Accounting policles (cofttlnu
Incomlng resources
All incoming resources are included in the statement of financial activities when entitlement has
passed to the charity- it is probable that the economic benefits associated with the transaction
will flow to the charity and the amount can be r81iably measured. The following specffic policies
are applled to particular categories of income:
income from donations or grants is recognised when there is evidence of entitlement to the
gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this Is
impractical to measure reliably, in which case the value is derived from the cost to the donor
or the estimated resale value. Donated facilities and servic8s are r8cognised in the
accounts when received if the value can be reliabty measured. No amounts are included for
the contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the
contracted seNice. This is classified as unrestricted funds unless there is a contractual
requirement for it to be spent on a particular purpose and returned if unspent. in which case
it may be regarded as restricted.
Resources expended
Expenditure 15 recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered, and is classified under headings of the statement of
financial activities to which it relates:
expenditur8 on raising funds includes th8 Costs of all fundraising activities, 8V8nts,
non-tharitable trading activities. and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking
activilie5 that further its Gharitable aims for the benefit of its benefi¢iaries. including those
support costs and costs relating to the govemanc8 of the charity apportioned to charitable
activities.
other expenditure includes all expenditure that is neither related to raising funds for the
charity nor part of its expenditure on charitable activities.
All costs a￿ allocated to expenditure categorie5 reflecting the use of the resource. Direct costs
attributable to a single activity are allocat8d directly lo that activity. Shared costs are apportioned
batween the activities they contribute to on a reasonable. justifiable and Consistent basis.
Tanglble assets
Tangible assets are initially recorded at cost. and subsequently stated at cost less any
accumulated depreciation and impairment losses. Any tangible assets carried at revalued
amounts are recorded at the fair value at the date of revaluation less any subsequent
accumulated depreciation and subsequent accumulated impairmant losses.
21

Wheelworks
Company Limited by Guarantee
Notes to the Financial Statements (contlnu8d)
Year ended 31 March 2025
Accountlng pollcies (continued)
Tanglble assets (Continu￿)
An increase in the carrylng amount of an asset as a result of a revaluatlon, is recognised in other
recognised gains and losses, unless it reverses a charge for impaimient that has previously been
recognised as 8xpenditure within the ststement of financial activities. A d8cr8as8 in the carrying
amount of an asset as a result of revaluation, is recognised in other recognised gains and losses,
except to which it offsets any previous revaluation gain. in which case the Ioss is shown within
other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to wrile off the cost or valuation of an asset, le5S its residual
value. over the useful economi¢ lifo of that asset as follows-
Fixtures and fittings
Motor vehicles
Equipment
25.￿ straight line
25 % straight line
33 % straight line
Impairnient of fixed assets
A review for indicators of impaimient is carried out at each reporting date. with the recoverable
amount being estimated where such indicators exist. Where the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impaimients are also reviewed for
possible reversal at each reporting date.
For the purposes of impairment testing. when it is not possible to estimate the recoverable
amount of an individual asset, an estimate is made of the r8coverab18 amount of the
cash-generating unit to which the asset belongs. The cash-generating unit is the smallest
identifiable group of assets that includes the asset and generates cash inflows that largely
independent of the cash inflows from other assets or groups of assets.
For impalrment testing of goodwill. the goodwill acquired in a business Combination Is, from the
acquisition date, allocated to each of the cash-generating units that are expected to benefit from
the synergies of the combination. irrespective of whether other assets or liabilities of the charity
are assigned to those unts.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the
contractual provisions of the instrument.
Basic financial instruments are Initially recognised at the amount recelvable or payab18 including
any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other
consideration expected to be paid or ￿CeIved and not discounted.
Debt instruments are subsequently measured at amortised cost.
22

Wheelworks
Company Limited by Guarantee
Notes to the Financial Statements (conllnued)
Year ended 31 March 2025
Accounting pollcles (¢ontinued)
Flnanclal Instruments feonlinu
Where investments in shares are publicly traded or their fair value can othe￿iSe be measured
reliably. the investment is subsequently measured at fair value with changes in fair value
recognised in income and expenditure. All other such investrnents ara subs8quently measured at
cost less impairment.
Other financial instruments. including derivatives, are initially recognised at fair value. unless
payment for an asset is deferred beyond normal business terms or financ8d at a rate of interest
that is not a market rate, in which case the asset is measured at the present value of the future
payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes
recognised in the statement of financial activities, with the exception of hedging instruments in a
designated hedging relationship.
Financial assets that are measured at cost or amortlS8d cost are reviewed for objective evidence
of impairment at the end of each reporting date. If there is objective evidenGe of impairment, an
impairment loss is recognised under the appropriate heading in the statement of financial
activities in which the initial gain was recognised.
For all equity instruments regardless of significance. and other financial assets that are
individually signtficant, these are assessed individually for impainnent. Other financial assets are
either assessed individually or grouped on the basis of similar credit risk characteristiC5.
Any reversals of impairment a￿ recognised immediately, to the extent that th8 reversal does not
result in a carying amount of the financial asset that exceeds what the carrying amount would
have been had the impairment not previously been ￿COgnISed.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which
the related service is provided. Prepaid contribution5 are recognised as an asset to the extent
that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the
reporting date in which the employees render the related Service. Ihe liability 15 measured on a
discounted present value basis. The unwinding of the discount is recognised as an expense in
the period in which it arises.
Llmlted by guarantee
Wheelworks is a company limited by guarantee and has no Sha￿ capital. In the event of the
charity being wound up, the liability in respect of th8 guarantee is limited to £1 per member of the
charity
23

Wheelworks
Company Limited by Guarantee
Notes to the Financial Statements (¢ontlnued)
Year ended 31 March 2025
Donations and legacies
Unrestricted Total Funds Unrestri¢ted Total Funds
Funds
2025
Funds
2024
Donations
Donations
2,777
2,777
32
32
Charltable a¢tlvltles
Unr8Strict8d
Funds
Restricted Total Funds
Funds
2025
TBUC
Arts Council of Northern Ireland
Garfield Weston
Belfast City Council
Education Authority
European So¢lal Fund
219.309
95.961
219,309
95,961
20,000
13,460
12,947
20,000
13.460
12.947
20,000
341,677
361,677
Unrestricted
Funds
Restricted Total Funds
Funds
2024
TBUC
Arts Council of Northem Ireland
Garfield Weston
Belfast City Council
Education Authority
European Social Fund
212.200
123,923
212,200
123,923
20.000
13.995
13.206
2.992
20.000
13.995
13.206
2.992
22.992
363.324
386.316
Other income
Unrestrtcted Total Funds Unrestricted Totsl Fund5
Funds
2025
Funds
2024
Other income
55,354
55,354
53,468
53,468
24

Wheelworks
Company Limited by Guarantee
Notes to the Financial Statements (conllnued)
Year ended 31 March 2025
Expenditure on charitable activitles by actlvity type
Activities
undertaken
directly
Support Total funds
costs
2025
Total fund
2024
Charitable activities
Gov8rnanc8 Costs
294,414
115,029
4.003
409,443
4.003
410,503
3.511
294,414
119,032
413.446
414.014
Anatysis of support costs
Analysis of
support costs Total 2025 Total 2024
Staff costs
Premises
Communications and IT
General office
Finance costs
Governance costs
79,080
24,661
10,210
946
132
4,003
79,080
24.661
10.210
946
132
4.003
85.715
16.717
8,391
1,597
116
3,511
116,047
119,032
119,032
10. Net Income
Net income is ststed after chargingl{crediting)-
2025
2024
Depreciation of tangible fixed assets
Fees payable for the audit of the financial statements
16,928
4,003
30.673
3,511
11. Staff costs
The total stsff costs and employee beneffts for the reporting period are analysed as follows..
2025
2024
Wages and salaries
Social security costs
Employer contributions to pension plans
171,166
5.020
6,888
183.074
187,917
7,499
7,665
203,081
The average head count of employees during the year was 9 (2024: 11).
No 8mploy8e received employee benefits of more than £60.000 during the year (2024: Nil).
25

Wheelworks
Company Limited by Guarantee
Notes to the Financial Statements {contlnuedJ
Year ended 31 March 2025
11. Staff costs (eontinuéd)
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for
planning. directing and controlling the activities of the charity. The tolal compensation paid to key
management personnel for services provided to the charity was £58,557 (2024:£51,990).
12. Trustee remuneration and expenses
No trustee received r8muneration or reimbursement for expenses during the year. {2024'. £Nil)
13. Tangible fixed assets
Fixtures and
fittings
Motor
V8hicles
Equipment
Total
Cost
At 1 April 2024
Additions
63,454
389.914
154.129
4,451
158,580
607.497
4,451
611,948
At 31 March 2025
63,454
389.914
Depreclatlon
At 1 April 2024
Charge for the year
At 31 March 2025
62,559
128
379.635
2.937
120.669
13,863
134,532
562,863
16,928
62,687
382,572
579,791
Carrying amount
At 31 March 2025
767
7.342
24.048
32,157
At 31 March 2024
895
10,279
33.460
44,634
14. Debtors
2025
2024
Trade debtors
Prepayments and accrued income
154.509
2,629
159,590
1,959
157.138
161,549
15. Creditors: amounts falllng due wlthln one year
2025
2024
Trade creditors
Accruals and deferred income
Social security and other taxes
other creditors
5,059
10,468
7,324
1,553
9.126
3.509
1.318
24.404
13.953
26

Wheelworks
Company Limited by Guarantee
Notes to the Financial Statements (contlnued)
Year ended 31 March 2025
16. Pensions and other post retirement beneflts
Defined Contribution plans
The amount recognised in income or expenditure as an expense in relation to defined
contribution plans was £6,888 (2024- £7.665).
17. Analysis of charitable funds
Unrestricted funds
At
31 March 20
25
At
1 April 2024
Income Expenditure
Transfers
General funds
Designated Funds
346.694
65.000
411,694
78.131
(71,769)
(65.000)
65.000
288,056
130,000
418,056
78,131
(71,769)
At
31 March 20
24
At
1 April 2023
Incom8 Expenditure
Transfers
General funds
Designated Funds
316.800
65.000
381,800
76.492
(82,813)
36.215
346.694
65.000
76.492
(82.813)
36,215
411.694
The trustees have designated funds of £130,000 for office relocation costs. salary support and
capitsl expenditure (page 8).
27

Wheelworks
Company Limited by Guarantee
Notes to the Financial Statements (conllnuedj
Year ended 31 March 2025
17. Anatysis of charitable funds (continu
Restrictod funds
At
31 March 20
25
At
1 April 2024
Income Expenditure
Transfers
Education Authority
Belfast City Council
Arts Council Northern
Ireland
TBUC
12,947
13,460
(12,947)
(13.460)
95,961
219.309
(95.961)
(219.309)
(341.677)
341,677
At
31 March 20
24
At
1 April 2023
Income Expenditure
Transfers
Education Authority
Belfast City Council
Arts Council Northem
Ireland
TBUC
13.206
13,995
(13.206)
(13,995)
4.092
123.923
212.200
(97,788)
(206.212)
(331.201)
(30.227)
(5.988)
(36.215)
4,092
363.324
18. Analysls of net assets between funds
Unre5triGted Total Funds
Funds
2025
Tan9ible fixed assets
Current assets
Creditors less than 1 year
Net assets
32,157
410.303
(24,404)
418,056
32,157
410,303
{24,404)
418,056
Unrestricted Total Funds
Funds
2024
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
44.634
381.013
(13.953)
411.694
44,634
381.013
(13.953)
411.694
28

Wheelworks
Company Limited by Guarantee
Notes to the Financial Statements {contlnu8d)
Year ended 31 March 2025
19. Taxation
The Company Ss a registered charity, and as such is entitled to tsx èxemptions on income and
profits in furtheran￿ of the charitys primary objectives.
20. Ethical standards
In common with many other businesses of our size and nature we use our auditors to prepare
and submit returns to the tax authorities and assist with the preparation of the financial
statements.
21. Contlngencies
A contingent liability exists to repay grants and Trust monies received should certain conditions
not be fulfilled by the charity. In the opinion of the Trustees, the temis of the Letters of Offers
have been. or will be. complied with and no liability is expected.
22. Related partles
No related paty transactions during the year
29

Wheelworks
Company Limited by Guarantee
Management Information
Year ended 31 March 2025
The following pages do not form part of the flnancial statements.
30

Wheelworks
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 31 March 2025
2025
2024
Income and endowments
Donations and legacies
Donations
2,777
32
Charitable activities
TBUC
Arts Council of Northem Ireland
Garfield Weston
Belfast City Council
Education Authority
European Social Fund
219,309
95,961
20,000
13.460
12.947
212,200
123,923
20,000
13,995
13,206
2,992
386,316
361,677
Other income
Other income
55.354
53,468
Total income
419.808
439,816
31

Wheelworks
Company Limited by Guarantee
Notes to the Detailed Statement of Financial Activities
Year ended 31 March 2025
2025
2024
Expenditure on charitable activities
Charitable actlvlties
Aotivities undertaken directly
Project Salaries
Employer Nl Contribution
Pension Costs
Equipment and materials
Artists and Freelancer
Production cost and Events
General expenses
Art Cart running costs
Debt not recovered through underspend
Consultancy and legal fees
Room Hire
Depreciation
PR and marketing
92,086
5,020
6,888
14,058
95,978
15,202
16,412
24,124
102,202
7,499
7,665
9,962
68,595
13,605
17,066
29,872
2,017
1,221
5,010
30,673
2,580
419
4,741
16,928
2,558
294,414
297,967
Support costs
Core wages
Rent
Insurance
Telephone and postage
IT
Bank interest and charges
Subscriptions & Memberships
General Expenses
79,080
20,273
4,388
2,265
7,945
132
833
113
85,715
13,286
3,431
2,605
5,786
116
1,261
336
115.029
112,536
Governance costs
Auditor Remuneration
4,003
3,511
Expenditure on charltable actlvltles
413.446
414,014
Net Income
6,362
25,802
32