Wishing Well Family Centre Company Llmited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2025 2025 Restricted funds Total funds Total funds 2024 Unrèstrlcted funds Note Income and endowmonts Donations and legacies Charitable activities Other income 360 487,501 2,902 360 576,581 2,902 505 551,588 89,080 Total Income 490,763 89,080 579,843 552,093 Expendlture Expenditure on charitable activities Total expendlture 513,948 113,182 627,130 592,036 513,948 113,182 627,130 592,036 Not expendlture (23,1851 (24,102) (47,2871 (39,943) Transfers beeen funds 17,078 (17,078) Nel movement In funds {6,107) (41,180) 147,2871 (39,943) Re¢onclllatlon of funds Total funds brought forward Total funds carrled forfiiard 560,475 554,368 851,956 1,412,431 1,365,144 1,452,374 1.412,431 810,776 The statement of financlal actlvllies Includes all galns and losses recognlsèd in the year. All Income and expenditure derSve from continuing activities. The notes on pages 15 to 24 form part of these financial statements. 12
Wishing Well Family Centre Company Limited by Guarantee Statement of Financial Position 31 March 2025 2025 2024 Note Flxed assets Tangible fixed assets 13 953,273 1,004,388 Current assèts Debtors Cash at bank and in hand 14 27,879 397,818 425,697 29,099 394,864 423,963 Credltors: amounls falllng due wlthln one year Net current assets 15 13,826 15,920 411,871 1,365,144 408,043 1.412,431 Totsl assets less current Ilabllltlès Net assets 1,365,144 1,412,431 Funds of the charlty Restricted funds Unr8slrictgd funds 810,776 554,368 851,956 560,475 Total charlty funds 17 1,365,144 1.412,431 These flnanc181 statements have been prepared in accordance wllh the provlslons appllcablè to companies subject to the small companies, reglme. Th8S8 financial statements were approved by the board of trust8es and authorlsed for Issu8 on 22 October 2025, and are signed on behalf of the board by: Mr S Dobbin Trust8e The notes on pages 15 to 24 form part of theye financial statements. 13
Wishing Well Family Centre Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2025 2025 2024 Cash flows from operatlng actlvltl8s Net expenditure {47,287) 139,9431 Adjustments for.. Depreciation of tangible fixed assets Interest payable and similar charges Accrued expensesllincome} 51,115 1,193 235 53,019 1,873 192) Ch8ng8s In.. Trade and other debtors Trade and other creditors 1,220 12,329} 4,147 110.0631 5,226 Cash generated from operations 10,020 Interest paid Net cash from operatlng actlvitles 11,193) 2,954 (1,8731 8,147 Net Increase In cash and cash equlvalents Cash and cash equlvalents at beginning of yèar Cash and cash aqulvalents at and of year 2,954 394,864 8,147 386,717 397,818 394,864 Thg notes on pag05 15 to 24 fonn part of these financial statements. 14
Wishing Well Family Centre Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2025 General inforniation The charity is a public benefit entity and a private company limited by guarant8e, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the reglstered officé is 7-9 Alliance Crescent, Belfast, BT14 7PL. Statement of compllance These financial statements have been prepared in compliance with FRS 102. 'The Financlal Reporting Standard applicable in the UK and the Republic of Ireland., the Slalement of Recommended Practice applicable lo charilles 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. Accountlng pollclos Basls of preparatlon The financial statements have been prepared on Ihe historical Cost basls, as modlfied by th8 revaluation of certain financial assets and liabilities and investmént properties measured at faSr valu8 IhroLtgh income or expèndlture. Th8 flnanclal statements are pr8par8d In sterllng, whlch is the functional currency of the entity. Wlshing Well Family Centre me8ts the d8finltlon of a publlc beneflt entity under FRS 102. Golng concern Ther8 are no matèrlal uncèrtaintlès about the charlly's ablllly lo continue. Dlsclosurg exemptlons The entity satlsfies the criteria of belng a quallfylng 8ntlty as defined In FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102.. lal Dlsclosures in respect of financlal instruments have not been presented. Judgements and key sources of estlmatlon uncertalnty The preparation of the financlal statements requires management lo 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 belleved lo be reasonable under the circumstsnces. 15
Wishing Well Family Centre Company Limited by Guarantee Notes to the Financial Statements (conllnued) Year ended 31 March 2025 Accountlng pollclas {continu•dJ Fund accounting Unrestricted funds are available for use al the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for partictjlar future project or commllment. Restricted funds are subjected lo restrictions on thèlr expenditure d8clared by the donor or through the term5 of an appe81, and fall into one of two sub-classes.. restricted Income funds or endowment funds. Incomlng resourc88 All Incoming resource5 are included in the ststement of financial aclivilies when enlitlemenl has passed lo the charity; il is probable that the economic benefits assoclated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applled to partlcular ¢alegories of income.. Income from donations or grants is recognlsed when there Is evld8nc8 of 8ntlll8ment to th8 glft, r8celpt is probable and ils amount can be measured reliably. legacy income Is recognised when recelpt Is probabl8 and 8ntlll8m8nt Is establlsh8d. income from donatèd 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 eslimaled resale value. Donated facilities and services are recognised in the accounls when received rf the value can be reliably m8asur8d. 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 service. This is classified as unrestricted funds unless there is a contractual requirement for it lo 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 Statements f¢onllnued) Year ended 31 March 2025 Accountlng pollcles (continu•d) Resources expended Expenditure is recognised on an accruals basis as a liability is Incurred. Expenditure includ85 any VAT which cannot be fully recovered, and Is classifièd under headings of the statement of financial activities lo which il relates: expenditure on raising funds includes the costs of all fundralslng activitlès, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable a¢livilies includes all costs inctsrred by a charity In undertaking activities that further its charitable aims frjr the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned lo charitable activities. other expenditure Includes all expendlture that is nellher related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categorles refl8Ctlng the use of the resource. Direct costs attributable lo a single activlty ar8 allocatèd directly lo that aclivily. Shared costs are apportSoned belween the activities they contribute lo on a reasonable, justifiable and consistent basis. Tanglble assets Tanglble assets are initially recorded at cost, and subsequently slated at cost less any accumulaled daprecialion and impaimient losses. Any tanglble assets carried at revalued amounls are recordèd at the fair value al the dale of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment 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 withln the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except lo which il offsets any previous revaluation gain, in which case the loss Is shown within other recognised gains and losses on the slalement of flnancial activities. Dèpreclatlon Depreclatlon 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.. Fraahold property Long leasehold property Motor vehicles Equipment 2D/o Stralght Ilne 20A straight line 250/0 Straight line 250/0 Straight line 17
Wishing Well Family Centre Company Limited by Guarantee Notes to the Financial Statements fcontlnuedj Year ended 31 March 2025 Accounting pollcles (conllnu¢d) Impalmiant of flxod assets A review for indicators of impairment is carried out at each reporting dale, with the recoverable amount bèSng estimated wherè such indicators exist. Where the carryin9 value exceeds the recoverable amount, the asset Is Impaired accordingly. Prior impairments are also reviewed for possible reversal al 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 cash-generaling unit to which the asset belongs. The ca5h-generating unit is the smallest identifiable group of assels 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 8¢quired in a business combinatlon is, from the acquisition dale, allocated 10 each of the cash-generaling units that are expected lo benefit from the synergies of the combinallon, irrespective of whether other assets or liabilities of the charity ar8 assigned to those units. Flnanclal Instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provlslons of the Instrument. Baslc flnanclal instruments ar8 Inltlally racognlsed at the amount recelvable or payable including any related transacllon costs. Current assets and current liabilities are subsequently measured at the cash or oth8r consideration expected to be paid or ceiVed and not dlscounted. Debt instruments are subsequently measured at amortised ¢ost. Where investments In shares are publicly traded or their fair value can oth8Mlse be measured reliably, the investment 15 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 Inslrumenls, including derivalives, are initially recognised al falr value, unless payment for an asset 15 deferred beyond normal business terms or financed al a rate of interest that is not a market rale. in which case the asset is measured at the present value of the future Payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exceptlon of hedging Snstruments in a esignated hedging relationship. Financial assets that are measured at Cost or amortlsed cost are reviewed for objective evidence of impairment al 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 acllvilies in which the initial gain was r8cognised. 18
Wishing Well Family Centre Company Limited by Guarantee Notes to the Financlal Statements (eonlinuèd) Year ended 31 March 2025 Accounting pollcles fGonllnuedJ Financlal Instrumants (contlnu•d) For all equity instruments regardless of slgnlfican¢e, and other financi81 assets that are indivldually 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 r8cognised immediately, lo the extent thal 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. Deflned contrlbutlon plans Contributions to defined contribution plans are recognised as an expense in the period in which thè related service is provided. Prepaid contribulions are recognised as an ass81 to the 8xt8nt that the prapayment willlgad to a reduction in future payments or a cash refund. Wh8n conlributlons arè not expected to be settled wholly within 12 months of the end of the reporting date in which th8 employe8s render the related Sérvi, the liability is measured on a discounted present value basis. The unwindlng of the dlscount Is r8cognls8d as an 8xpense In the period in which it arises. Llmltad by guarantèe The charlty Is a company limlted by guarantee and every member undertakes to contribute to the assets of the company in the event of it being wound up, such amount as may be requlred not exceeding £5, Donatlons and léga¢les Unrestricted Total Funds Unreslricled Total Funds Funds 2025 Funds 2024 Donatlons Donations 360 360 505 505 19
Wishing Well Family Centre Company Limited by Guarantee Notes to the Financial Statements (contlnu•d) Year ended 31 March 2025 Charltablè activities Unrestricted Funds Restricted Total Funds Funds 2025 BHSCT Nursery Fees Service Fees Belfast City Council Education Authority Departmenl for Communities Other Income Early Years 167,456 150,777 146,524 10,375 167,456 150,777 146,524 10,375 35,844 53.236 2,131 10,238 35,844 53,236 2,131 10,238 487,501 89,080 576,581 Unrestricted Funds Restricted Total Funds Funds 2024 BHSCT Nursgry Fees Service Fees Belfast City Councll Educatlon Aulhorlly Department for Communllles Other Income Early Y8ars 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 Other Income Unrestricted Total Fund8 Unrestricted Total Funds Funds 2025 Funds 2024 2.902 2,902 Expendlture on charltable actlvltles by actlvlty typo Activities undertaken directly Support costs Total funds 2025 Tolal fund 2024 Direct charilable activity Governance costs 557.948 557,948 69,182 627,130 521,672 70,364 69,182 69,182 557.948 592,036 20
Wishing Well Family Centre Company Limited by Guarantee Notes to the Financial Statements fcontlnuod) Year ended 31 March 2025 Net expenditure N8t expenditure is stated after chargingllcreditlng).. 2025 2024 Depr8clalion of tangible fixed assets 51,115 53,019 10. Audltors remunaratlon 2025 2024 F88s payable for Ihe audit of the financial statements 4,960 4,725 11. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2025 2024 Wages and salaries Social security costs Employ8r contributions to pension plans 456,315 24,486 7,567 418,295 17.822 6,950 488,368 443,067 The average h8ad count of employees during the year was 3312024.. 30). The average numb8r of full-time equivalent employees during the year Is analysed as follows,. 2025 2024 No. Number of staff 33 30 No employee recelved èmployee bènefits of more than £60,000 during the year (2024.. Nil), Key Management Porsonnèl Kay management personnel Include all persons that have authority and responsibillty for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for seNlces provided to th8 charity wa5 £83,927 {2024'.£76,6681. 12. Trustee remuneratlon and expenses No remuneration or other benefits from employment with the charity or a related entity were reiVed by the trustees 21
Wishing Well Family Centre Company Limlted by Guarantee Notes to the Financial Statements (continu•d) Year ended 31 March 2025 13. Tangible fixed assets Long Freehold leasehold property propety Motor vehicles Equipment Total Cost At 1 Aprll 2024 and 31 March 2025 494,391 728,686 15,000 146,703 1,384,780 Depreclatlon At 1 April 2024 Charge for the year At 31 March 2025 168,119 9,528 89,091 14,574 15,000 108,182 27,013 135,195 380,392 51,115 177,647 103.665 15,000 431,507 Carrylng amount At 31 March 2025 316,744 625,021 11,508 38,521 1,004,388 953,273 At 31 March 2024 326,272 639,595 The Executive Office who have assessed wlth funding In relation to the land and buildings ex18nslon work above hav8 taken a charge over the associated assets d8led 13th December 2016. 14. Dobtors 2025 2024 Prepaym8nts and accnjed Income Other deblors 1,527 26,352 29,099 29,099 27,879 15. Credltors: amounls falllng due wlthln one yèar 2025 2024 Accruals and deferred Income Social security and other laxes Othar creditors 4,960 4,725 6,675 4,520 8,866 13,826 15,920 16. Pgnslons and other posl retirement benofits Deflned contrlbutlon plans The amount recognised in income or expenditure as an expense in relation to defined ontribution plans was £7,567 {2024.' £6.950). 22
Wishing Well Family Centre Company Limited by Guarantee Notes to the Financial Statements (contlnuedj Year ended 31 March 2025 17. Analysls of charltablo funds Unrestrlcted funds At 31 March 202 At 1 April 2024 Income Expenditure Transfers General funds Designated Fund 560,475 490.763 1513.948) 17,078 554,368 560.475 490.763 (513,9481 17,078 554,368 At 31 March 202 At 1 April 2023 Income Expenditure Transfers General funds Designated Fund 496,316 80,000 464,236 (480,0771 80,000 180,0001 560,475 576,316 464,236 (480,0771 560,475 Restrlcted fund$ At 31 March 202 At 1 Aprll 2024 Income Expenditure Transfers Dfc Fundlng Capltal R6S8rve Fund TEO- SIF Education Authorlty 17,078 237,847 597,031 53,236 153,236) 19,5281 114,574) 135,844} (113,1821 (17,078) 228,319 582,457 35,844 851,956 89,080 (17,078) 810,776 At 31 March 202 Al 1 April 2023 Income Expendlture Transfers Dfc Funding Capital Reserve Fund TEO - SIF Education Aulhority 17,078 247,375 611,605 52,226 152,2261 19,5281 114,5741 135,6311 1111,959) 17,078 237,847 597,031 35,631 87,857 876,058 851,956 The capital reserve and TEO relales to capital grants received for the purchase of the premises at Alliance Crescent. The fund will bé fully amortised over the life of the premises. Transfers have taken place in the year to reclassify income to Unrestricted funds as the funds are available for any use, no restridions are in place for the usage of this inGome. 23
Wishing Well Family Centre Company Limited by Guarantee Notes to the Flnancial Statements (cgnlinued) Year ended 31 March 2025 18. Analysls of not assets batween funds Unrestricted Funds Reslricl8d Totsl Funds Funds 2025 Tangible fixed assets Current as5els Credilors less than 1 year Net assets 142,497 425,697 113,8261 554,368 810,776 953,273 425,697 113,8261 1,365,144 810,776 Unrestricted Funds Restricted Total Funds Funds 2024 Tanglble fixed assets Current assets Creditors less than 1 year Net assets 169,510 406,885 (15,9201 560.475 834,878 17,078 1,004,388 423,963 115,920) 1,412,431 851,956 19. Ethlcal standards In common with many other buslnesses of our slze and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparallon of the flnancial statements, 20. Corporatlon taxatlon The Charlty's 8¢llvitles fall withln the exempllons afforded by the provisions of Ihe Income and Corporation Taxes Act 1988. Accordingly, there is no taxation charge In these accounts. 21. Contlngent Ilabllltles A contingent liability exists lo repay grants recelved 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 liabillty Is expected. 22. Analysls of changes In net debt At At 1 Apr 2024 Cash flows 31 Mar 2025 Cash at bank and In hand 394,864 2,954 397,818 23. Related parties There were no related paty transactlons during Ihe year. 24