Wishing Well Family Centre
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2024
2024
Reslricted
funds Total funds
2023
Unrestricted
funds
Total funds
Note
Income and endowments
Donations and legacies
Charitable activities
Investment income
505
463,731
505
551,588
55
579,175
87,857
Total Income
464,236
87.857
552,093
579,231
Expenditure
Expenditure on charitable activities
Total expenditure
480,077
111,959
111,959
592,036
592,036
598,424
598,424
480,077
Not OXP8ndlture and net movement In
funds
(15,841)
(24,102)
(39,943)
{19,193)
Reconciliatlon of funds
Total funds brought forward
Total funds carried forward
576,316
660,475
876,058
851,956
1,452,374
1,412,431
1,471,567
1,452,374
The statement of financlal activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 15 to 25 fomi part of those financial statements.
12

Wishing Well Family Centre
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
2024
2023
Note
Fixed assets
Tangible fixed assets
13 1,004,388
1,057,407
Current assets
Debtors
Cash at bank and in hand
14
29,099
394,864
19,036
386,717
423,963
405.753
Credltors". amounts falling due within one year
Net ¢urrent assets
15
15,920
10,786
408,043
394,967
Total assets less current liabilities
1,412,431
1,452,374
Net assets
1,412,431
1.452,374
Funds of the charlty
Restricted funds
Unrestricted funds
851,956
560,475
17 1,412,431
876,058
576,316
Total charlty funds
1,452,374
These financial stalements 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 authorlsed for issue on 21
November 2024, and are signed on behalf ofthe board by..
Mr K Johnsto
Trustee
Mr S Dobbin
Trustee
opuw L,I
The notes on pages 15 to 25 form part of these flnancial statements.
13

Wishing Well Family Centre
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2024
2024
2023
Cash flows from operatlng actlvltles
Net expenditure
(39,943)
(19.1931
Adjustments for..
Depreciation of tangible fixed assets
Other interest receivable and similar income
Interest payable and similar charges
Accrued {income)lexpenses
53,019
53.476
{11
1,496
420
1,873
{92)
Changes in..
Trade and other debtor5
Trade and other creditors
(10,063)
5,226
709
154,547}
117,640)
Cash generated from operations
10,020
Interest paid
Interest received
(1,8731
11,4961
Net cash fromllused in) operating activities
8,147
(19,135)
Cash flows from Investlng actlvlties
Purchase of tangible assets
Nel cash used in investing activities
(45,782)
(45,782)
Net Increasel(decrease) In cash and cash equlvalents
Cash and cash equlvalents at beglnning of year
Cash and cash equivalents at end of year
8,147
386,717
(64,917)
451,634
394,864
386,717
The notes on pages 15 to 25 form part of these financial statements.
14

Wishing Well Family Centre
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
General Information
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 7-9 Alliance Crescent, Belfast, BT14 7PL.
Statement of ¢ompllan¢e
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 Statemenl of
Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (Charities
SORP {FRS 102)) and the Companies Act 2006.
Accounting pollcles
Basls of preparatlon
The financial slalements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities and investment properties measured at falr
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.
Going concern
There are no material uncertalnties about the charlty's ability to continue.
Dl8cIo8ure exemptlons
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 ofFRS 102..
(al Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertalnty
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 factors, Including expectations
of future events that are believed to be reasonable under the circumstances.
15

Wishing Well Family Centre
Company Limited by Guarantee
Notes to the Financial Statements (eontlnuédj
Year ended 31 March 2024
Accounting policies (contlnu•d)
Fund accounting
Unreslricted 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 trustees for particular future project or
commitment.
Reslricted 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.
Incomlng resources
All incoming resources are included in the statement of financial activities when entitlement has
passed to the charity., it is probable that the economic benefits associated wilh the transaction
will flow lo the charily and the amount can be reliably measured. The following specific policies
are applied to particular categories of income..
income from donallons or granls Is recognlsed when there is evidence of entitlement to the
gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlemenl 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 lo the donor
or the estimated resale value. Donated facilities and services a￿ 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 seNice. This is classified as unrestricted funds unless there is a contractual
requirement for it to be spent on a particular purpose and returned if unspent, in which case
it may be regarded as restricted.
16

Wishing Well Family Centre
Company Limited by Guarantee
Notes to the Financial Ststements (continued)
Year ended 31 March 2024
Accounting policies (¢ontlnued)
Resourc88 expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered, and is classified under headings of the statement of
financial activities to which it relates:
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 beneficiaries, including those
support costs and costs relating to the governance of Ihe charity apportioned to charitable
activities.
other expenditure includes all expenditure Ihat is neither related to raising funds 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
belmeen the activities they contribute to on a reasonable, jLSStifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently staled at cost less any
accumulated depre¢iation and impairment losses. Any tangible assets carrled at revalued
amounts are recorded at the fair value at the date of revaluation less any subsequent
accumulated depreclatlon and subsequent accumulated Impalrment 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 activilies. 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 financial activities.
Depraciation
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..
Freehold propety
Long leasehold propety
Motor vehicles
Equipment
2% straight Ilne
20A straight line
25 % straight line
250/0 Straight line
17

Wishing Well Family Centre
Company Limited by Guarantee
Notes to the Financial Ststements (continuedj
Year ended 31 March 2024
Accounting policles (¢ontlnuedJ
Impaimient 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 it is not possible to estimate the recoverable
amount of an individual asset, an estimate is made of the recoverable amount of the
ash-generating unit to which the asset belongs. The cash-generaling 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, alloGated to each of the cash-generating units that are expected lo benefit from
the synergies of the combination, irrespective of whether other asset5 or liabilities of the charity
are assigned to those units.
Flnancial Instruments
A financial asset or a financial liability is recognlsed only when the charity becomes a party to the
contractual provlsions of 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 pald or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where inveslmenls 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 instruments, inGluding 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 nol a market rate, in which case the asset is measured at the present value of the future
payments discounted at a market rate of interest for a similar debt instrument.
other financial instrumenls 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 re¢ognised under the appropriate heading in the statement of financial
activities in which the initial gain was recognised.
18

Wishing Well Family Centre
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
Accounting policies (continu•d)
Financlal Instruments (contlnued)
For all equity instruments regardless of significance, 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 re¢ognised immediately. to the extent that the reversal does not
result in a carrying amount of the financial asset that exceeds what the Carrying amount would
have been had the impairment not previously been recognised.
Defined contribution plans
Contributions lo 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 lo 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 Ihe
reporting dale in which the employees render the related service, the liability is measured on a
discounted present value basis. The unwinding of Ihe discount is recognised as an expense In
the period in which it arises.
Llmlted by guarantee
The charity is a company limited by guarantee and every member undertakes to contribute lo the
assets of the company in the event of it being wound up, such amount as may be required not
exceeding £5.
Donatlons and legacies
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Oonations
Donations
505
505
55
55
19

Wishing Well Family Centre
Company Limited by Guarantee
Notes to the Financial Ststements (contlnuedj
Year ended 31 March 2024
Charitable activities
Unrestricted
Funds
Restrlcted Total Funds
Funds
2024
BHSCT
Nursery Fees
Service Fees
Belfast City Council
Education Authority
Department for Communities
Other Income
Early Years
170,335
25,760
259,902
1,399
170,335
25,760
259,902
1,399
35,631
52,226
6,335
35,631
52,226
6,335
463,731
87,857
551,588
Unrestricted
Funds
Restricted Total Funds
Funds
2023
BHSCT
Nursery Fees
Service Fees
Belfast City Councll
Education Authority
Department for Communities
Other Income
Early Years
168,998
2,865
302,136
168,998
2,865
302,136
3,606
45,410
54,696
1,164
300
3,606
45,410
54,696
1,164
300
520,873
58,302
579,175
Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Bank interest receivable
Expenditure on charitable actlvltles by actlvlty typ8
Activities
undertaken
directly Support costs
Total funds
2024
Total fund
2023
Direct charitable activity
Governance costs
521,672
521,672
70,364
592,036
496,968
101,456
70,364
521,672
70,364
598,424
20

Wishing Well Family Centre
Company Limited by Guarantee
Notes to the Financial Statements (conlinued)
Year ended 31 March 2024
Net expenditure
Net expenditure is stated after chargingl{crediting)'.
2024
2023
Depreciation of tangible fixed assets
53,019
53,476
10. Auditors remuneration
2024
2023
Fees payable for the audit of the financial statements
4,725
4,637
11. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows..
2024
2023
Wages and salarles
Social security costs
Employer contributions to pension plans
429,085
7,032
6,950
431,016
16,292
6,611
443,067
453,919
The average head count of employees during the year was 30 (2023.. 371. The average number
of full-lime equivalent employees during the year Is analysed as follows..
2024
No.
2023
No.
Number of staff
30
37
No employee received employee benefits of more than £60,000 during the year (2023.. Nil).
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for
planning, directing and controlling the activities of the charity. The total compensation paid to key
management personnel for services provided to the charity was £76,66812023'.£72,733).
12. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were
received by the trustees
21

Wishing Well Family Centre
Company Limited by Guarantee
Notes to the Financial Statements (contlnued)
Year ended 31 March 2024
13. Tangible fixed assets
Long
Freehold leasehold
property
property
Motor
vehicles Equipment
Total
Cost
At 1 Aprll 2023 and
31 March 2024
494,391
728,686
15,000
146,703 1,384,780
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
158,591
9,528
74,517
14,574
89,091
15,000
79,265
28,917
108,182
327,373
53,019
168,119
15,000
380,392
Carrying amount
At 31 March 2024
326,272
639.595
38,521 1,004,388
67,438 1,057,407
At 31 March 2023
335,800
654,169
The Executive Office who have assessed with funding in relation to the land and buildings
extension work above have taken a charge over the associated assets dated 13th December
2016.
14. Debtors
2024
2023
Other debtors
29,099
19,036
15. Credltors: amounts falllng due withln one year
2024
2023
Accruals and deferred income
Social security and other taxes
Other creditor5
4,725
6,675
4,520
4,817
5,969
10,786
15,920
16. Penslons and other post retlrement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined
contribution plans was £6,950 (2023.. £6,611).
22

Wishing Well Family Centre
Company Limited by Guarantee
Notes to the Financial Statements (contlnued)
Year ended 31 March 2024
17. Analysis of charitabl8 funds
Unr8Strlcted funds
At
31 March 202
At
1 April 2023
Income Expenditure
Transfers
General funds
Designated Fund
496,316
80,000
464,236
(480,077)
80,000
{80,000)
560,475
576,316
464,236
{480,077)
560,475
At
31 March 202
At
1 April 2022
Income Expenditure
Transfers
General funds
Designated Fund
491,407
80,000
571,407
520,929
1516,020)
496,316
80,000
576,316
520,929
{516,020)
Wishing Well Family Centre have a designated reseNe for the purpose of acquiring and
maintalning new premises.
Restrlcted funds
At
31 March 202
At
1 April 2023
Income Expenditure
Transfers
Dfc Funding
Capital Reserve Fund
TEO- SIF
Belfasl City Council
Summer Scheme
Education Authority
17,078
247,375
611,605
52,226
(52,226)
(9,528)
(14,5741
17,078
237,847
597,031
35,631
{35,631)
(111,9591
876,058
87,857
851,956
At
31 March 202
At
1 April 2022
Income Expenditure
Transfers
Dfc Funding
Capital Reserve Fund
TEO- SIF
Belfast City Council
Summer Scheme
Education Authority
17,078
256,903
626,179
54,696
{54,696)
(9,528)
(14,574)
17,078
247,375
611,605
3,606
(3,6061
900,160
58,302
(82,404}
876,058
23

Wishing Well Family Centre
Company Limited by Guarantee
Notes to the Financial Statements {contlnu•dJ
Year ended 31 March 2024
17. Analysis of charitable funds f¢ontinued)
The capital reserve relates to capital grants received for the purchase of the premises at Alliance
Crescent. The fund will be fully amortised over the life of the premises.
18. Analysls of net assets betW88n funds
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Tangible fixed assets
Current assets
Creditors less than 1 year
Nat assets
169,510
406,885
{15,920}
560,475
834,878
17,078
1,004,388
423,963
(15,920)
1,412,431
851,956
Unreslricted
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
19. Ethlcal standards
In common with many other businesses of our size and nature we use our audltors to prepare
and submlt returns to the tax authorities and asslst with the preparation of the financial
statements.
20. Corporatlon taxatlon
The Charity's activities fall within the exemptions afforded by the provisions of the Income and
Corporation Taxes Act 1988. Accordingly, there is no taxation charge In these accounts.
21. Contingent liabilltles
A contingent liability exists to repay grants received should certain conditions not be fulfilled by
the charity. In the opinion of the Trustees, the terms of the Letters of Offer have been, or will be,
complied with and no liability 15 expected.
22. Analysis of changes In net debt
At
At 1 Apr 2023 Cash flows 31 Mar 2024
Cash at bank and in hand
386,717
8,147
394,864
24

Wishing Well Family Centre
Company Limited by Guarantee
Notes to the Financial Statements {¢ontinued)
Year ended 31 March 2024
23. Related parties
K Johnston is an employee and holds the position of deputy, K Johnston's spouse is the
Chairperson of the Charity.
25