Charity Reglstratlon No. NIC104947 (NoY¢h¢rn Ireland) Company Reglstration No. N1614237 GRACE WOMEN'S DEVELOPMENT LIMITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
CHARITY INFORMATION Trustees Mairc Mcveigh Janine Mag¢e Ethna Glover Maureen Doherty Shauneen Baker Conor Maskey Linda M¢Guinn¢ss SecretAry Mary McGarrAgle Charlty number NIC104947 Prlnelpal offi¢e Gra¢e Women's Development Limit¢d Grace Family Centre 77-95 Alliance Avenue B¢lfast BT14 7PJ Independent examlner Mr Paul mC.¢8Y¢y FCA PGM Chartered Accountants 405 Lisbum Road Belfast BT9 7EW B Ydnkers AIB I l-l5 Doncgall Squar¢ North Belfast BTI 5GB
COIYTENTS PY4ge Trustees. r¢port Independent examin¢r8' report Statement of financial activitie8 Balance sheet Notes to th¢ fin8n¢ial statements 10-14
GRACE WOMEN*S DEVELOPMENT LIMITED BALANCE SHEET AS AT 31 MARCH 2023 2023 2022 Notes Flxed assets Tangible assets 2,2110,342 2,258,540 Current Yd$5ets Cash at bank and in hand 109,570 75.133 109,570 75,133 Credltoi's: amounts ffilllDg due Ivlthln one year (3,762) (4,714) Net current a8sets 105,808 70,419 TotAI aiset$ le85 eurrent IIAbllltl¢s 2,306,150 2,328,959 Net A8setJ 2,306,150 2,328,959 Fund8 Unrestricted funds Restricted funds 96,263 2,209,887 65,131 2,263,828 Total funds 2a06,150 2,328,959 For tlie financial year ellded 31 March 2023 the company was ¢ntitled to exemption from audit under Section 477 of thL, Companies Act 21)06 r¢lating to small companies. The Trustees acknowledge their responsibilitie5 for complying with th¢ r¢quir¢ments of the Companies Act 2006 with respect to accounting re¢orts and the preparation of financial statements. The TnteeS consider that the company 18 entitled to exemption froni the requirement to have an audit under the provision of section 477 of th¢ Companies Act 2006 and members have not i'equired the company to obtain an audit for the year in question in accordan¢e with section 476 of the Companies Act 2006.
GRACE WOMEN'S DEVELOPMENT LIMITED BALANCE SHEET AS AT 31 MARCH 2023 {CONrtNUED) These financial statements have been preped in accordance witb the provisions applicable to coinpanies subject to the small Companies regim¢. Approved and auth0178ed for issue by the Board on 1511212023. Shauneen Baker Trustee Company ReglstrAtlon No. N16142
GRACE WOMEN'S DEVELOPMENT LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 Unrestrleted Funds Restrlcted Funds 2023 2022 Total Totsl Note$ Ineome and endowments from: Charitable a¢tivitAes Donations 154,149 153,309 2,639 98,894 3.108 2,639 Other Ineomlng resource$ Rent receivable Room Hire 34,728 5,061 34,728 5.061 20,210 3,902 Total Incomlng resourceg 42,428 J54,149 196,577 126,114 Re$our¢e8 expended ChaTltabl¢ activitAe8 11,296 2Q8,090 219,386 151,240 Total vesources expended 11,296 208,090 219,386 151,240 Net Income l (expendlthr¢) 31,132 (53,941) (22,809) (25,126) Transfers between funds Net movement In fundj 31,132 ($3,941) (22,809) (25,126) Total funds brought fonvrdrd at l Aprll 2022 as regtated 65,131 2,263,828 2J28,959 2,354,085 Total funds carrled forwAYd it 31 March 2023 96,263 2,209,887 2,306,150 2,328,959 The statement of financial activities has been pr¢par¢d on the basis that all operations are continuing operations. There are no re¢ogni8¢d gains or loss¢s other tlwi thos¢ passing through th¢ statement of fiiiancial activities.
GRACE WOMEN?S DEVELOPMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 l. Aecoundng pollde5 1.1 Basls of Preparallon The fllwici41 slatements have been prepared under ihe historical cosl convention. Th¢ ac¢ounts (fu)ancial statements) have been prepared in aw)rdance with the Ststement of Recolnmended Practice: Accounting and Reporting by Chariti¢s preparing their ac¢ounts in accordance wilh th¢ Financial Repol'ling Standai"d applicable in the UK and Republic of Jreland (FRS 102) issued in October 2019 and the Finan¢ial Reporting Standard applicable in th¢ United KiDgdom and Republic of ircland (FRS 102) and the Charitie8 Act (Northern Ireland) 2008. 1.2 Ineonjfing resourees Incoming resources arc classified according to their urr and nature. There aT¢ two dAStiact sources of income being incoming resources from grants awarded and incomitlg resource6 from charitable activities. All incoming resouKes are included in the statement of financial activities when the ¢harity is legally entitled to the in¢ome and th¢ amount C4n be quanlified with reasonable accuracy. 1.3 Resources expended Resources expended 4r¢ classified according to their function. All expendituie is accounted for on an accruals ba8is and ha8 been classified under heAdings that aS'egate all costs related to that cate80ry. 1.4 Fund #ctountlng Unreshicted fun&8 are available for use at th¢ discretion of the trustees in furtherance of the genei'al obje¢lives of the charity which have not been designated for other purposes. Restricted fijnds are generated from restt't¢t¢d grants and donations r¢¢¢ived from funding bodies and th¢ related expenditure. Such fuiids are i'eslricted in their u5¢ as d¢terniined by each individual ndIng body. 1.5 Tfftnglble fixed 4$setS And deprec1411on Tangible fixed assets are 8la*d at cost le6s depreciation. Depreciation is provided at rates calculated to writ¢ off the cost less estimated i'esidual value of each asset over its expected useful life, as follows: Lcaschold property Fixtures & fitlings 20/0 Straight-line IOO/o Straigbt-line 1.6 F&relgn currency translgtlon Monetary assets and liabilities dcnominated in foreign ¢urr¢ncies ar¢ translated illto sterling at the rates of exchange Tuling at the balance shcct date. Tran8aclions ID foreign cun'encies are recorded at the rate of exchang¢ at the balance she¢t date. All differenccs are tak¢n to the profit and105s aont. 1.7 Cash flow $tatemeDt The chariti SORP 2019 recommends that cash tlow statements should b¢ pr¢pared for larger charitable entlties, however the UK accounting guidelines also &llow for smaller entities to elect not to produce cash flow statements. Grace Women's Development Limited meets the definition of a small entity in tern of the UK accounting 8t8ndard8 and the SORP 2019. The trustees have elected not to prepare a cash flow statement in acconlance with provisions allowed for smaller entities. io
GRACE WOMEN'S DEVELOPMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONfiNUED) FOR THE YEAR ENDED 31 MARCH 2023 l. Ateoulltlng pollcles (contlnued) 1.8 Debtors and credltors recelvable I p%ygble wlthln one yeAr D¢btOTS and creditors with no stated int¢rest rale and Teceivable or payable within one year ar¢ r¢cord¢d at transaction price. Any losses arising from impairnient ar¢ T¢cogDis¢d in expenditur¢. 1.9 Loans and borroivlngs Loans aijd borrowings are initially r¢cognised at the tran$tion price including transaction costs. Subs¢qu¢ntly, thcy are measured at amorli8¢d cost using the effective interest rate method, less impairnient. If an arrangement constitutes a finance transaction it 16 measUd at prnsent Value. 1.10 Impalrment Assets not measured at fair valu¢ are Fevi¢w¢d for any indication that the asset May b¢ impaii'ed at each balance sheet date. If such indication ¢xists, the recoverable amount of the asset, or the asset's cash generating urtit, is Cstimated, and compai'ed to tlJ¢ carrying amount. Whcr¢ Ihc Larrying amount excc¢d8 Its recoverable amount, an impaTrrment loss is recOlsed in profit or Ioss Ull1¢5S th¢ asset is CWTied at a revalued amount wher¢ th¢ impainnent loss is a revaluation decr¢as¢. 1.11 Employee beneflti When employe¢s have rendered service to the cbarity, short-tenn employee benefits to which the employees are aititled are recognised at the undiscounled amount expe¢t¢d to bv paid in exch8n8e foi. that service. The ch81'ity operates a defined contribution plan for the benefit of its employees. Contributions ar¢ exp¢nsed as they become payabl¢. 1.12 Golng concern The financial statements have been prepared on a going concern basis 8S the trustees believe that no material uncertaintics exist. The trustees have considercd th¢ lev¢1 of fijnds beld and the expected l¢vel of income and expenditure for 12 months from authorising these finaneial statements. The budgeted income and exponditure is sufficient with the lev¢1 of reserves for the charity to be able lo continue as a going concern. 1.13 Judgements ind key sources of estlmatlon uncertAlnty In the application of the charity's accounting policies, the trustees are rcquii'ed to make judgements, estimates and Js$umption$ about the carrying amount of assets and liabilities that are not readily apparent from other souroes. The estitna1¢5 and associated assumptions are bas¢d on lii8torical experience and other factors that ar¢ ¢onsidered to be relevant. Actual results may differ from these estimates. The estimates and underlying as8umptions aiE reviewed on In ongoing basis. Revisions to a¢UntIng estimat¢y are recognised in the pcriod in wliicb the estimate is revised where the r¢visioD affects only that period, or in the period of the revision and future periods wb¢re the revision affects both currer*t and fUth¢ periods. li
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 2. Total resouyees Unrestrlc¢ed Restrlcted Funds Funds 2023 2022 Total Total Incomlng resour¢¢8 Department for Communities Belfast City Council Donations John Moore's Foundation ARC Scheme Cowoperation Ireland Victoria Home8 Flax Trust Halifax BBC Children in Need Henry Smith Foundation NI Housing Executive Public Health Agency Rent reccivable Room Hire 78,759 17,985 78,759 17,985 2,639 69.658 17,985 3,108 3.900 1,290 3,961 i.ioo 1,000 2,639 7,837 10,358 25,100 13,270 840 7.837 10,358 25,100 13,270 34,728 5,061 34,728 5,061 20,210 3,902 42,428 154,149 196,577 126,114 Re8ourcÈs expended Project costs Ardoyne association grant Grant income returned Wages and salaries Staff pensions Property repairs and maintenance Premises insurance Rent & rates Power, light & heat Computer Tunning costs Legal & professional Accountancy Bank cbarges Travel Telecommunications Sundry expenses Depreoiation 18,453 20.450 6,724 79,754 3,237 7,336 4,312 J8,453 20,450 6,724 79,754 3,237 7,758 4,312 873 3,783 684 9,571 2,160 443 420 2,136 430 58,198 8,373 63,237 3,057 4,884 2,625 519 3,125 1,453 ,950 1,920 415 422 873 3,783 684 2,160 960 7,411 443 420 1,619 517 430 886 1,163 57,633 58,198 11,296 208,090 219,386 151,240 The management and administration ¢xpens¢s have been apportioned beiween each chitable activity on the same ba818 as the expenditure inCued directly in uodertaking that activity. 12
GRACE WOMEN'S DEVELOPMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR EIYDED 31 1CH 2023 3. Tanglble fixed assets t$ell01d Flxture$ & Property Fittings Total Cost or valuation At l April 2022 Additions 2,184,884 145,000 2,329,884 At 31 Mareh 2023 2.184,884 145,000 2,329,884 Depreclatlon At l April 2022 Charge for th¢ y 53,581 43,698 17,763 14,500 71,344 58,198 At 31 March 2023 97279 32,263 129.542 et book value At 3 l Mah 2023 2,087,605 112,737 2,200,342 At 31 March 2022 2,131,303 127,237 2,258,540 4. Credltors: amount8 18Jlllng due wlthln one year 2023 2022 Accruals Wag¢s payabl¢ PAYE 2,160 803 799 3,518 1,196 3,762 4,714 S. Analysls of nel asget8 between fundi ReJtrl¢ted Fund Unre8tri¢ted Fund Total Fund8 Fixed assets Current assets Current liabilitie8 22OOJ42 13,307 (3,762) 2,200,342 109,570 (3,762) 96,263 2209,887 96,263 2,306,150 13
GRACE WOMENgS DEVELOPMENT LIMITED NOTES TO THII FINAIYCIAL STATEMKNTS (CONnNUED) FOR fH£ YEAR ENDED 31 MARCH 2023 O. Trustees, remunerAllon The Trustee received no remuneration during the year ending 3l March 2023 (2022 - £nil). 7. Trugtees, expensey The Trustees received no expenses during the year ending 31 March 2023 (2022 - £nil). 8. Employees The average number of employees during the year ending 3 l March 2023 was 5 (2022: 3). 2023 2022 Gross wages and salaries (including national insuTance) Staff pension costs 79,754 3,237 63.237 3,057 82,991 66,294 14