COMPANY REGISTRATION NUMBER: N1042209 CHARITY REGISTRATION NUMBER: 103511 Magherafelt Women's Group Limited Company Limited by Guarantee Unaudited Financial Statements 31 March 2023 PFS ACCOUNTANTS AND AUDITORS LTD Chartered Certified Accountants 122 Main Street Dungiven Co Derry BT47 4LG
Magherafelt Women's Group Limited Company Limited by Guarantee Financial Statements Year ended 31 March 2023 Page Directors, annual report (incorporating the director's report) Independent examiner's report to the directors Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements The following pages do not form part of the financial statements Detailed statement of financial activities Notes to the detailed statement of financial activities 22 24
Magherafelt Women's Group Limited Company Limited by Guarantee Directors, Annual Report (Incorporating the Director's Report) Year ended 31 March 2023 The directors, who are also the directors for the purposes of company law, present their report and the unaudited financial slatements of the Charity for the year ended 31 March 2023. Reference and admlnistrative details Magherafelt Women's Group Limited 103511 Registered charity name Charity registration number Company registratlon number N1042209 Principal office and registered 27-29 Moneymore Road office Magherafelt BT45 6AG Co Derry The directors Mrs Lilana Boyd Ms Mary Mcsorley Ms Joanne Greer Mrs Paula O'Neill Mrs Kristal Olphert Mrs Elizabeth Forde Mrs Abigayle Higgins Mrs Karen McKillen PFS Accountants and Auditors Ltd 122 Main Street Dungiven Co Derry BT47 4LG (Resigned 13 June 2022) (Resigned 28 April 2022) (Appointed 1 August 2022) Independent examiner
Magherafelt Women's Group Limited Company Limited by Guarantee Directors, Annual Report (Incorporating the Director's Report) (continuerfj Year ended 31 March 2023 structure, governance and management Magherafelt Women's Group Ltd is a company limited by guarantee and accepted as charitable by HMRC. The company is also a registered charity Wlth The Charty Commission for Northern Ireland under Charity number 103511. The company was incorporated on 21 December 2001. The company was established under a Memorandum of Association which established the objects and powers of the company, and is govemed by its Articles of Association. The liability of members is limited in that every member of the company undertakes to contribute an amount not exceeding £1 in the event of the company being wound up. Recruitment and Appointment of Directors The charity Trustees are also Directors of the company. Mrs Kristal Olphert was appointed director on 1 August 2022. Organisation Structure The Board consists of six Trustees who administer the Charity and meet monthty. The board has appoinled a centre manager Bernie O'Neill. Objectives and activities The aim of Magherafelt Women's Group Ltd is to relieve poverty, to advance education and to protect health and in particular to provide in Magherafelt and surrounding district (the area of benefit) facilities in the interests of social welfare for the education, recreation and leisure time occupation of women who by reason of Social or economic circumstances have needed such facilities. Magherafelt Women's Group is a non-profrt organisation but it model includes a degree of cost recovery by offering services to various public organisation5 and private individuals via kidz Lodge childcare and Learning Lodge training centre. There are no shareholders and all profits reinvested for the benefits of the community- Though its structure Kidz Lodge works to address the needs of local disadvantaged and working families in the community by providing flexible affordable accessible high quality Summer Scheme, Daycare and Afterschool facilities delivered by highly qualified and caring staff in a safe nurturing environment. Achievements and performance The 2022-2023 was another challenging year for the stsff of MWG and Kidz Lodge Childcare although the impact of Covid-19 lessened as the year progressed. Kidz Lodge had another successful year, providing daycare to an average of 53 04 year old children each week and after-school care to 39 4-11 year olds. The centre management was disappointed however that it was not possible to re-open the baby room, despite a waiting list for places, because of problems in attracting suitable staff. Recruitment efforts continue at year end. A highlight of the year was the achievement in March 2023 of a Gold Award from Early Years as a Centre of Excellence. Kidz Lod9e became the first Mid-ulster childcare facility to achieve this prestigious quality award following a rigorous inspection process. This is a notable achievement and a testament to the dedication and hard work of Kidz Lodge management and staff. While Covid-19 guidelines were relaxed during the year, staff were mindful that the virus was still in circulation and continued to maintain strict hygiene protocols to minimise avoidable infection and absence.
Magherafelt Women's Group Limited Company Limited by Guarantee Directors, Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2023 Another constraint was the continued increase in overhead costs which required ongoing attention. Childcare fees were increased in line with inflation and budgets were managed carefully while ensuring that standards were not compromised. Operations in the women's group returned to a degree of normality as Covid rules were relaxed. MWG continued to Collaborate with the Nl Rural Women's NeOrk (NIRM) to deliver employability and personal development activities under the Women Breaking Barriers pilot initiative. Courses facilitated included.. Speech Confidence. Self Care for Success-, Get Creative Finances. Get Creative Self-Employment', Living in Flow-, Wellbeing in Focus Photography; Level 2 Counselling., Conflict and Mediation Skills. Feedback from partlGipants was very positive and, at year end, the WBB partners were still awaiting confirmation of future funding but were hopeftjl that this delivery could resume in 2023-24. Other activities offered during the year were mainly related to wellbeing and creative crafts and included the following.. Wellbeing.. Menopause programme., Breast Screening Awareness programme,. Confidence building course,. Yoga. Crafts.. Autumn wreath making and wall hanging with loom weaving; Christmas creative Grafts- cards, gifts, wreaths, table arrangements-, Spring box frame workshop and decorative wall. There were one-off activities to address women's isolation and boost confidence and the group was able to host a coffee morning to mark International Women's Day in March for the first time in several years. A four week Journaling programme was facilitated for CWSAN (Cookstown & Western Shores Area Network}', MWG participated in the Wami Spaces initiative, which was a response to the cost of living crisis. during the winter months., and Stay and Play sessions for mums and tots were provided and proved very popular. MWG staff continued to offer support to women by sharing information on social media and linking with other organisations, and through direct communication with women on our mailing lists. Rooms continued to be made available for hire, with Sure Start using rooms and other spaces available at a Competitive rate. In Autumn, the Board and centre management engaged Blue Moss consultants to assist with a strategic review of operations and to develop a new strategic plan. This work reflected the current challenging funding environment and is ongoing at year end. The Board of Magherafelt Women's Group is very grateful to our funders for their ongoing support- core funder, Dfc Community Investment Fund. Early Years Pathway Fund. Department of Education Bright Start Fund., Mid Ulster District Council and Nl Housing Executive. The Board thank the management team and all the staff for their dedication during the past year and thank the Kidz Lodge parents for their cooperation and support. The Board also thank long serving hair, Anne Forde, who stepped down as chair at the end of the business year. Board and staff look forward to progressing plans which result from the ongoing strategic review and, despite acknowledged challenges, are optimistic about the coming year.
Magherafelt Women's Group Limited Company Limited by Guarantee Directors. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2023 Financial review During the year the company made a net loss of £19,878 this is shown on page 7 to the accounts. The directors, annual report was approved on 14h November 2023 and signed on behalf of the board of trustees by-. LIA, Ldkn Mrs Elizabeth Forde Director Mrs Karen McKillen Director
Magherafelt Women's Group Limited Company Limited by Guarantee Independent Examiner's Report to the Directors of Magherafelt Women's Group Limited Year ended 31 March 2023 I report to the directors on my examination of the financial statements of Magherafelt Women's Group Limited ('the charity,) for the year ended 31 March 2023. Responsibilities and basis of report As the directors of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of Charities Act (Northern Ireland) 2008 (the '2008 Act,) and the Companies Act 2006 {'the 2006 Act,). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination. Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65{9)(b) of the 2008 Act. Independent examiner's statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body lisled in section 65 of the 2008 Act. I confirm that l am qualified to undertake the examination because l am a member of the Association of Chartered Certified Accountants. which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in Connection with my examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act., or the financial statements do not accord with those records., or the financial statements do not comply with the accounting requirement5 of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination- or the finanGial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practi¢e for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Magherafelt Women's Group Limited Company Limited by Guarantee Independent Examiner's Report to the Directors of Magherafelt Women's Group Limited (condnued) Year ended 31 March 2023 I confirm that there are no other matters to which your attention should be drawn to enable a proper underslanding of the accounts to be reached. PFS Accountants and Auditors Ltd Independent Examiner 122 Main Street Dungiven Co Derry BT47 4LG
Magherafelt Women's Group Limited Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2023 2023 Restricted funds Total funds Total funds 2022 Unrestricted funds Note Income and endowments Donations and legacies Charitable activities Other trading activities Investment income Other income 84,485 84,485 387,664 104 49 12,969 485,271 97,449 355,888 140 387,664 104 49 12,969 400,786 18,488 471,973 84,485 Total income Expenditure Expenditure on charitable activities Other expenditure Total expenditure 10,11 12 426,735 (6,071) 420,664 84,485 511,220 (6,071) 505,149 496,054 (13,397) 482,657 84,485 Net expenditure and net movement in funds (19,878) (19,878) (10,684) Reconciliation of funds Total funds brought forward Total funds carried foThvard 416,395 18,604 434,999 415,121 445,683 434,999 396,517 18,604 The statement of financial activities includes all gains and losses recognised in the year. All in¢ome and expenditure derive from continuing activities. The notes on pages 9 to 20 form part of thgse financial statements.
Magherafelt Women's Group Limited Company Limited by Guarantee Statement of Financial Position 31 March 2023 2023 2022 Note Fixed assets Tangible fixed assets 17 208,947 239,081 Current assets Debtors Cash at bank and in hand 18 29,733 223,103 252,836 28,195 292,512 320,707 Creditors: amounts falling due wlthin one year Net current assets Total assets less Current liabilities Net assets 19 46,662 206,174 415,121 415,121 124,789 195,918 434,999 434,999 Funds of the charity Restricted funds Unrestricted funds 18,604 396,517 415,121 18,604 416,395 434,999 Total charity funds For the year ending 31 March 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. 24 Directors, responsibilities.. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476- The diredors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting reGords and the preparation of financial statements. These financial statements have been prepared in accordance with the 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 14th November 2023, and are signed on behalf of the board by". LML Mrs Elizab Director h Forde Mrs Karen McKillen Director The notes on pages 9 to 20 fomi part of these finan¢lal statements.
Magherafelt Women's Group Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2023 General infonnation The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is 27-29 Moneymore Road, Magherafelt, BT45 6AG, Co Derry. Statement of compliance These financial statements 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 ac¢ounts 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 statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties 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 There are no material uncertainties about the charity's ability to continue. Disclosure exemptions The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financia5 statements of (enter name of group financial statements) which can be obtained from (enter detail). As such. advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102.. (al No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. Judgements and key sources of estimation uncertainty The preparation of the financial 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 factor5, inGluding expectations of future events that are believed to be reasonable under the circumstances.
Magherafelt Women's Group Limited Company Limited by Guarantee Notes to the Financial Statements Icontinued) Year ended 31 March 2023 Accounting polictes {continued) Fund accountlng Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the directors for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or endowment funds. Incoming 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 reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gift, reIpt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is estsblished. 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 seNices are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracls for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and retumed if unspent, in which case it may be regarded as restricted. 10
Magherafelt Women's Group Limited Company Limited by Guarantee Notes to the Financial Ststements {¢ontinued) Year ended 31 March 2023 Accounting policies (contlnuedj Resources expended Expenditure is recognised on an accruals basis as a liabilty is incuired. Expenditure includes any VAT which cannot be fully recovered, and is Classified under headings of the statement of financial activities to which it relates= expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charty in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance 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 actSVities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned beeen the activities they contribute to on a reasonable, justifiable and consistent basis. Operating leases Lease payments are recognised as an expense over the lease temi on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease temi. on a straight-line basis. Tangible assets Tangible assets are initially recorded at cost. and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets Garried at revalued amounts are recorded at Ihe fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impaimient losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial adivities. A decrease 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 loss is shown within other recognised gains and losses on the statement of finanGial activities. Depreciatlon Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: 40k straight line 100/0 Straight line 25 % straight line Freehold property Fixtures and fittings Motor vehicles 11
Magherafelt Women's Group Limited Company Limited by Guarantse Notes to the Financial Statements Icontinu•d) Year ended 31 March 2023 Accounting policies (continued) Impairment of fixed assets A review for indicators of impairment 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 impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when rt is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-9enerating 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 impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the CaShenerating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the Charty are assigned to those units. Finance leases and hire purchase contracts Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments. which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability. Government grants Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the Gharty will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as liability. Financial Tnstruments A financial asset or a financial liability is recognised only when the charty becomes a party to the contractual provisions of the instrument. Basi¢ financial instrument5 are initialty recognised at the amount receivable or payable including any related transaction costs. 12
Magherafelt Women's Group Limited Company Limited by Guarantee Notes to the Financial Statements (continuedj Year ended 31 March 2023 Accounting policies (continued) Financlal instruments fconelnued) Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value Can othetwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently 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 financed 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 rale of interest for a similar debt instrument. Other financial instnjments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, wrth the exception of hedging instrument5 in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence 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 signrficance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that eXedS what the carrying amount would have been had the impairment not previously been recognised. Defined contribution plans Contributions to defined contribution plans are re¢ognised as an expense in the period in which the related service is provided. Prepaid contributions 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 5erviGe, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Llmited by guarantee The Company has no share capital and is a company limited by guarantee. 13
Magherafelt Women's Group Limited Company Limited by Guarantee Notes to the Financial Statements f¢ontlnuedJ Year ended 31 March 2023 Donations and legacies Unreslricted Funds Restricted Total Funds Funds 2023 Grants DFC WCCF DFC CIF Childcare small partnership grant Bright Start Mid Ulster Council DFC Energy grant DFC Cost of living grant Early Years Pathway Fund 1,345 60,215 800 3,165 960 1,500 1,500 15,000 1,345 60,215 800 3,165 960 1,500 1,500 15,000 84.485 84,485 Unrestricted Funds Restricted Total Funds Funds 2022 Grants DFC CIF Halifax Bright Start Mid Ulster council Early Years Pathway Fund Early years childcare support Early years CRSF 56,651 1.020 2,188 960 15,000 56,651 1,020 2,188 960 15,000 10,167 11,463 10.167 11,463 21,630 75,819 97,449 Charitable activities Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Creche and after school fees 387,664 387,664 355,888 355,888 387,664 387,664 355.888 355.888 14
Magherafelt Women's Group Limited Company Limited by Guarantee Note5 to the Financial Statements (contlnuedj Year ended 31 March 2023 Other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Fundraising events 104 104 140 140 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Bank interest receivable type 1 49 49 other Income Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Rent receivable Other income 10.195 2,774 10,195 2,774 12,969 9,139 9,349 18,488 9.139 9,349 18,488 12,969 10. Expenditure on charitable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2023 Charitable activities Governance costs 423.642 3,093 426,735 84,485 508,127 3,093 511,220 84,485 Unrestricted Funds Restricted Total Funds Funds 2022 Charitable activities Govemance costs 413,915 6,320 75,819 489,734 6,320 496,Q54 420,235 75.819 15
Magherafelt Women's Group Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 11. Expenditure on charitable activities by activity type Activities undertaken Total funds directly 2023 Total fund 2022 Charitable activities Govemance costs 508,127 3,093 511,220 508,127 3,093 511,220 489,734 6,320 496,054 12. Other expenditure Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Release of capital grant (6,071) (6,071) {13,397) (13.397) 13. Net expenditure Net expenditure is stated after chargingl(crediting)'. 2023 2022 Depreciation of tangible fixed assets Operating lease rentals 30,134 2,634 30,134 2,634 14. Independent exarnination fees 2023 2022 Fees payable to the independent examiner for: Independent examination of the financial statements 3,922 4,784 15. Staff costs The total staff Costs and employee benefits for the reporting period are analysed as follows: 2023 2022 Wages and salaries Social security Costs Employer Contributions to pension plans 366,308 17,868 4,777 388,953 351,202 16,741 3,487 371,430 The average head count of employees during the year was 25 (2022: 201. The average number of full-time equivalent employees during the year is analysed as follows: 2023 2022 No. 25 20 Number of staff 16
Magherafelt Women's Group Limited Company Limited by Guarantee Notes to the Financial Statements (continuedj Year ended 31 March 2023 15. Staff costs (continued) No employee received employee benefits of more than £60,000 during the year (2022.. Nil). 16. Trustee remuneration and expenses None of the trustees received remuneration during the year ended 31 March 2023. 17. Tangible fixed assets Freehold Fixtures and property fittings Motor vehicles Total Cost At 1 April 2022 and 31 March 2023 Depreciation At 1 April 2022 Charge for the year At 31 March 2023 684,120 191,288 28,950 904,358 466,979 27,365 494,344 169,346 2,769 172,115 28,952 665,277 30,134 695,411 28,952 Carrying amount At 31 March 2023 189,776 217,141 19,173 (2) (2} 208,947 239,081 At 31 March 2022 21,942 18. Debtors 2023 2022 Trade debtors Prepayments and accrued income 27,257 2,476 29,733 25,657 2,538 28,195 19. Creditors: amounts falling due within one year 2023 2022 1.731 49,030 14,846 1,929 57,253 124,789 Trade creditor5 Accruals and deferred income Social security and other taxes Obligations under finance leases and hire purchase contracts other creditors 1,603 42,524 2.535 46,662 17
Magherafelt Women's Group Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 20. Finance leases and hire purchase contracts The total future minimum lease payments under finance leases and hire purchase contracts are as follows- 2023 2022 Not later than 1 year 1,929 21. Deferred income 2023 2022 At 1 April 2022 Amount released to income 46,397 (6,073) 40,324 59,792 113,397) 46,395 At 31 March 2023 22. Pensions and other post retirement benefits Defined contribution plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £4,777 (2022: £3,487). 23. Government grants The amounts recognised in the financial statements for government grants are as follows.. 2023 2022 Recognised in creditors: Deferred government grants due within one year Recognised in income from donations and legacies- Government grants income 46,397 59,792 11,463 18
Magherafelt Women's Group Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 24. Analysis of charitable funds Unrestricted funds At 31 March 20 23 At 1 April 2022 Income Expenditure General funds Designated Fund 391,395 25,000 416,395 400,786 (420,664) 371,517 25,000 396,517 400,786 (420,664) At 31 March 20 22 At 1 April 2021 Income Expenditure General funds Designated Fund 402,079 25,000 396,154 (406,838) 391,395 25,000 427.079 396,154 (406,838) 416,395 The designaled fund is eannarked by the directors for redundancies in the future. Restricted funds At 31 March 20 23 At l April 2022 Income Expenditure (84,485) Restricted Fund 18,604 84,485 18,604 At 31 March 20 22 At 1 April 2021 Income Expenditure Restricted Fund 18,604 75,819 (75.819) 18,604 19
Magherafelt Women's Group Limited Company Limited by Guarantee Notes to the Financial Statements {continuedJ Year ended 31 March 2023 25. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net assets 189,792 252,837 {46,663) 395,966 19,155 208,947 252,837 (46,663) 415,121 19,155 Unrestricted Funds Restricted Total Funds Funds 2022 Tangible fixed assets Current asset5 Creditors less than 1 year Credrtors greater than 1 year Net assets 220,477 320,708 (67.536) 18,604 239,081 320,708 (67,536) 473,649 18,604 492,253 20
Magherafelt Women's Group Limited Company Limited by Guarantee Management Information Year ended 31 March 2023 The following pages do not form part of the financial statements. 21
Magherafelt Women's Group Limited Company Limited by Guarantee Notes to the Detailed Statement of Financial Activities Year ended 31 March 2023 2023 2022 Expenditure on charitable activities Charitable activities Activities undertaken directly Direct charitable activity 1 wageslsalaries Direct charitable activity 1 employer's NIC Direct charitable activity 1 pension costs Direct charitable activity 1 operating leases Direct charitsble activity 1 rates & water Direct charitable activity 1 light & heat Direct charitable activity 1 repairs & maintenance Direct charitable activity 1 insurance Direct charitable activity 1 motor vehicle expenses Direct charitable activity 1 legal and professional fees Direct charitable activity 1 telephone Direct charitable activity 1 other office costs Direct charitable activity 1 depreciation Direct charitable activity l interest on HP and finance leases Direct charitable activity 1- Sundry Direct charitable activity 1 Catering Direct charitable activity 1 Accountancy Direct charitable activity 1 Bank charges Direct charitable activity 1- tutor costs 366,308 17,868 4,777 2,634 1,742 15,280 19,357 7,490 3.204 3.029 1,834 10,808 30,134 658 3,013 12,282 3,922 548 3,239 351,202 16,741 3,487 2,634 1,616 13,122 24,411 7,483 2,662 1,325 2,408 9,637 30,134 1,822 2.265 11,037 4,784 512 2,452 508,127 489,734 Governance costs Activities undertaken directly Direct charitable actNity 2 - Hire of equipment Direct charitable activity 2 - Staff training 822 2,271 1.112 5,208 3,093 6.320 Expenditure on charitable activities 511,220 496,054 24