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 Ne￿Ork (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, re￿Ipt 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
be￿een 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 CaSh￿enerating 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 eX￿edS 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