Wishing Well Family Centre
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2023
2023
Restricted
funds Total funds
2022
Unrestricted
funds
Total funds
Note
Income and endowments
Donations and legaGies
Charitable activities
Investment income
55
520.873
55
579.175
4,912
661,153
32
58.302
Total income
520.929
58,302
579,231
666,097
Expendlture
Expenditure on Gharitsble activities
Total expenditure
516.020
82.404
598,424
585.599
516,020
82,404
598,424
585,599
Net (expenditure)fJncome and net
movement in funds
4,909
(24.102)
(19,193)
80,498
Reconciliation of funds
Total funds brought forward
Total funds carried forward
571,407
900.160
1,471,567
1,452,374
1,391.069
576.316
876,058
1.471,567
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 page5 14 to 24 fomi part of these finanGlal statements.
11

Wishing Well Family Centre
Company Limited by Guarantee
Statement of Financial Position
31 March 2023
2023
2022
Note
Fixed assets
Tangible fixed assets
12
1.057.407
1.065.101
Current assets
Debtors
Cash at bank and in hand
13
19,036
386,717
19,745
451,634
405,753
471,379
Creditors: arnounts falllng due within one year
14
10,786
64,913
Net current assets
394,967
406,466
Total assets lèss current liabilities
1,452,374
1.471,567
Net assets
1,452,374
1.471,567
Funds of the charity
Restricted funds
Unreslricted funds
876.058
576.316
900,160
571,407
Total charity funds
17 1,452.374
1.471.567
These financial statements have been prepared in accordan￿ with the provisions applicable to
companies subject to the small companies, regime.
These fsnancial statements were approved by the board of trustees and authorised for issue on 18
October 2023, and are signed on behalf of the board by:
Mr K Johnst
Trustee
MrSDo
Trustee
bin
The notes on pages 14 to 24 fomi part of these financlal ststements.
12

Wishing Well Family Centre
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2023
2023
2022
Cash flows from operating activities
Net (expenditure)lincome
(19,193)
80,498
Adjustn7ents for."
Depreciation of tangible fixed assets
Other interest receivable and similar income
Interest payable and similar charges
Accrued expensesl(income)
53.476
(1)
1,496
420
42,031
132)
2,724
15791
Changes in."
Trade and other debtors
Trade and other creditors
709
(54,547)
(17,640)
4,636
59,250
Cash generated from operations
188,528
Interest paid
Interest received
(1,496)
{2,724)
30
Net Gash (used in)fftom operating activities
(19,135)
185,834
Cash flows from investing activities
Purchase of tangible assets
Net cash used in investing activities
(45.782)
(45,782)
(62,271)
(62,271)
Net (decrease)lincrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
(64.917)
451.634
123.563
328,071
386.717
451,634
The notes on pages 14 to 24 forni part of these financial statements.
13

Wishing Well Family Centre
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2023
General information
The charity is a public benefit entty 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 7-9 Alliance Crescent, Belfast, BT14 7PL.
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 accounts in accordance wtth the
Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) (Charities
SORP (FRS 102)) and the Companies Act 2006.
Accountlng 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.
Wishing Well Family Centre meets the definition of a public benefit entity under FRS 102.
Golng concern
There are no material Un￿rtaIntieS about the charitys ability to continue.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such.
advantage has been taken of the following disclosure exemptions available under paragraph
1.12 of FRS 102:
(a) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation of the financial statement5 requires management to make judgements.
estimates and assumptions that affect the amounts reported. These estimates and judgements
are continually reviewed and are based on expenenGe an(i other faciors, Inclu¢Jlng expec￿tIOnS
of future events that are believed to be reasonable under the circumstances.
14

Wishing Well Family Centre
Company Limited by Guarantee
Notes to the Financial Statements (continuedj
Year ended 31 March 2023
Accounting policies (¢ontinuedJ
Fund accounting
Unrestricted fund3 are available for use at the discretion of the tru3t¢e3 to further any of the
charity's purposes.
Designated funds are unrestricted fijnds earmarked by the trustees 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 charty and the amount can be reliably measured. The following specific policies
are applied to particular categories of income=
income from donations or grants is ￿Cognised when there is evidence of entitlement to the
gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised vthen 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 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 contracts for the supply of services is recognised with the delivery of the
contracted Se￿ICe. This is classified as unrestricted funds unless there is a contractual
requirement for it to be spent on a particular purpose and retumed rf unspen( in which case
it may be regarded as restricted.
15

Wishing Well Family Centre
Company Limited by Guarantee
Notes to the Financial Statements fronllnued)
Year ended 31 March 2023
Accounting policies fconlinuedj
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Èxpenditure 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 charity in undertaking
activities that further its charitable aims for the benefit of its beneficiar5es, 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 fijnds for the
charity nor part of its expenditure on charitable activities.
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
between the activities they contribute to on a reasonable. justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently ststed 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 impairment losses.
An inGrease in the carying amount of an asset as a resurt of a revaluation. is recognised in other
recognised gains and losses, unless it reverses a charge for impaimienl that has previously been
recognised as expenditure within the statement of financial activities. A decrease in the carrying
amount of an asset as a resurt 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 ststement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset. less tts residual
value. over the useful economic life of that asset as follows-
Freehold property
Long leasehold property
Motor vehicles
Equipment
20/0 Straight line
20/0 Straight line
25 /0 Straight line
25°A straight line
16

Wishing Well Family Centre
Company Limited by Guarantee
Notes to the Financial Statements (Con￿nued)
Year ended 31 March 2023
Accounting policies (continuedj
Impaimient of fixed assets
A review for indicators of impairment is Garried out at each reporting date, with the reGoverable
amount being estimated where such indicators exist. Where the carying 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 it is nol possible to estimate the recoverable
amount of an individual asset, an eslimate is made of the recoverable 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 impairment 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 units.
Financial instruments
A financial asset or a financial liability is recognised only when the Gharity becomes a party to the
contraclual provisions ot the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including
any related transaction costs.
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 otherwise 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 instnjments, including derivatives, are initially recognised at fair value. unless
payment for an asset is defe￿ed beyond nomial business tem)s or financed at a rate of interest
that is not a market rate. in which Gase the asset is measured at the present value of the future
payments discounted al 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 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 vthich the initial gain was recognised.
17

Wishing Well Family Centre
Company Limited by Guarantee
Notes to the Financial Statements (condnuedj
Year ended 31 March 2023
Accounting policies (continued)
Flnanclal Instruments fconunuedj
For all equity instruments regardless of significance, and other tinancial assets thal 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
resutt in a Garying amount of the financial asset that exceeds what the carrying amount would
have been had the impaiment not previously been recognised.
Deflned ¢ontrlbutlon plans
Contributions to defined contribution plans are recognised 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 fijture 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, 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.
Limlted by guarantee
The charity is a company limited by guarantee and every member undertakes to contribute to the
assets of the company in the event of tt being wound up, such amount as may be required not
exceeding £5.
Donation5 and legacies
Unrestricted Total Funds Unrestricted Total Funds
Funds
2023
Funds
2022
Donations
Donations
55
55
4.912
4.912
18

Wishing Well Family Centre
Company Limited by Guarantee
Notes to the Financial Statements (condnuod)
Year ended 31 March 2023
Charitable activities
Unrestricted
Funds
Restricted Total Funds
Funds
2023
BHSCT
Nursery Fees
Service Fees
Belfast City Council
Education Authorlty
Department for Communities
Other Income
HMRC Grants
Early Years
Ulster Community Covid
168,998
2.865
302.136
168,998
2,865
302,136
3,606
45,410
54,696
1.164
3,606
45,410
54,696
1,164
300
300
520,873
58,302
579,175
Unrestricted
Funds
Restricted Total Funds
Funds
2022
BHSCT
Nursery Fees
Service Fees
Belfast City Counul
Education Authority
Department for Communities
Other Income
HMRC Grants
Early Years
Ulster Community Covid
192,257
192,257
256,747
256,747
41,476
41,335
52,686
498
4.610
27,018
44.526
41,476
41,335
52.686
498
4,610
27,018
44,526
566,991
94,162
661.153
Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2023
Funds
2022
Bank interest receivable
32
32
Expenditure on charitable activities by activity type
Activities
undertaken
directly Support costs
Total funds
2023
Total fund
2022
Direct charitable activity
Governance Costs
496.968
496,968
101.456
475,695
109,904
101,456
496.968
101,456
598,424
585,599
19

Wishing Well Family Centre
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
Net {expenditure)fincome
Net (expenditurevincome is stated after chargingl(crediting)-
2023
2022
Depreciation of tangible fixed assets
Fees payable for the audit of the financial ststements
53,476
4.637
42,031
4,370
10. Staff costs
The total staff costs and employee benefits for the ￿porting period are analysed as follows..
2023
2022
Wages and salaries
Social security costs
Employer contributions tr) pension plans
431,016
16,292
6,611
431,195
16,243
6,018
453,919
453,456
The average head count of employees during the year was 3712022: 34). The average number
of full-time equivalent employees during the year is analysed as follows..
2023
2022
No.
Number of staff
37
34
No employee received employee benefits of more than £60,000 during the year (2022.. Nill.
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for
planning, directing and controllirbg the activities of the charity. The total compensation paid to key
management personnel for services provided to the charity was £72.733 {2022'.£75,444).
11. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were
received by the trustees
20

Wishing Well Family Centre
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
12. Tangible fixed assets
Long
Freehold leasehold
property
property
Motor
vehlcles Equlpment
Total
Cost
At l April 2022
Additions
494,391
728,686
15,000
100,921 1.338,998
45,782
45,782
At 31 March 2023
494,391
728,686
15,000
146,703 1,384.780
Depreciation
At 1 April 2022
Charge for the year
At 31 March 2023
149.063
9.528
59,943
14.574
15,000
49,891
29,374
273,897
53.476
158.591
74.517
15,000
79,265
327.373
Carrying amount
At 31 March 2023
335.800
654,169
67.438 1.057,407
At 31 March 2022
345.328
668,743
51.030 1,065,101
The Executive Office who have assessed with funding in relation to the land and buildings
extension work above have iaken a charge over the associated assets dated 13th December
2016.
13. Debtors
2023
2022
Other debtors
19,036
19,745
14. Creditors: amounts falling due within one year
2023
2022
Accruals and deferred income
Other creditors
4,817
5,969
4,397
60,516
10,786
64,913
21

Wishing Well Family Centre
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
15. Deferred Income
2023
2022
At 1 April 2022
Amount released to income
1,2Ei6
(1,266>
At 31 March 2023
16. 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 £6,611 (2022- £6,018).
17. Analysis of charitable funds
Unrestricted funds
At
31 March 202
At
1 April 2022
Income Expenditure
Transfers
General funds
Designated Fund
491,407
80,000
520,929
(516.020)
496,316
80,000
571.407
520,929
(516,020)
576,316
At
31 March 202
At
1 April 2021
Income Expenditure
Transfers
General funds
Designated Fund
346.807
80,000
571,935
(507,335)
80.000
491,407
80.000
426.807
571,935
(507,335)
80,000
571.407
Wishing Well Family Centre have a designated reseNe for the purpose of acquiring and
maintaining new premises.
22

Wishing Well Family Centre
Company Limited by Guarantee
Notes to the Financial Statements (eontlnuèdj
Year ended 31 March 2023
17. Analysis of charitable funds (continuedj
Restricted funds
At
31 MarGlI 202
Al
1 April 2022
Income Expenditure
Transfers
Dfc Funding
Capital Reserve Fund
TEO- SIF
New Build Capital
Reserve Fund
Belfast City Council
Summer Scheme
17,078
256,903
626.179
54.696
(54.696)
(9,528)
(14.574)
17,078
247,375
611,605
3,606
(3,606)
(82,404)
900.160
58.302
876,058
At
31 March 202
At
1 April 2021
Income Expenditure
Transfers
Dfc Funding
Capital Reserve Fund
TEO- SIF
New Build Capital
ReseNe Fund
Belfast City Council
Summer Scheme
17,078
266.431
640.753
52,686
(52,686)
(9,528>
(14.574)
17,078
256,903
626,179
40.000
40.000
(80,000}
1,476
(1.476)
(78.264)
964.262
94.162
(80,000)
900,160
The capital reserve relates to capital grants re￿iVed for the purchase of the premises at Alliance
Crescent. The fund will be fully amortised over the lrfe of the premises.
23

Wishing Well Family Centre
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
18. 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
198.427
388.675
(10,786)
576,316
858,980
17,078
1,057,407
405.753
(10.786)
1.452.374
876,058
Unrestricted
Funds
Restricted Total Funds
Funds
2022
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
228.428
407,892
(64.913)
571,407
836,673
63,487
1,065,101
471,379
(64,913)
1,471,567
900,160
19. Corporation taxation
The Charity's activities fall within the exemptions affordeij by the provisions of the Income and
Corporation Taxes AGt 1988. Accordingly. there is no taxation charge in these accounts.
20. Contingent liabilities
A contingent liability exists to repay grant5 received should certain conditions not be fulfilled by
the charity. In the opinion of the Trustees. the tenns of the Letters of Offer have been, or will be,
complied with and no liability is expected.
21. Related parties
There were no related party transactions during the period.
22. Analysis of changes in net debt
At
At 1 Apr 2022 Cash flows 31 Mar 2023
Cash at bank and in hand
451,634
(64,917)
386.717
23. Related parties
K Johnston is an employee and holds the position of deputy, K Johnston's spouse is the
Chairperson of the Charity.
24