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 Tn￿teeS 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 prep￿ed 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 a￿o￿nt.
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$￿tion price including transaction costs.
Subs¢qu¢ntly, thcy are measured at amorli8¢d cost using the effective interest rate method, less impairnient.
If an arrangement constitutes a finance transaction it 16 measU￿d at prnsent Value.
1.10 Impalrment
Assets not measured at fair valu¢ are Fevi¢w¢d for any indication that the asset May b¢ impaii'ed at each
balance sheet date. If such indication ¢xists, the recoverable amount of the asset, or the asset's cash
generating urtit, is Cstimated, and compai'ed to tlJ¢ carrying amount. Whcr¢ Ihc Larrying amount excc¢d8 Its
recoverable amount, an impaTrrment loss is recO￿lsed in profit or Ioss Ull1¢5S th¢ asset is CWTied at a revalued
amount wher¢ th¢ impainnent loss is a revaluation decr¢as¢.
1.11 Employee beneflti
When employe¢s have rendered service to the cbarity, short-tenn employee benefits to which the employees
are aititled are recognised at the undiscounled amount expe¢t¢d to bv paid in exch8n8e foi. that service.
The ch81'ity operates a defined contribution plan for the benefit of its employees. Contributions ar¢ exp¢nsed
as they become payabl¢.
1.12 Golng concern
The financial statements have been prepared on a going concern basis 8S the trustees believe that no material
uncertaintics exist. The trustees have considercd th¢ lev¢1 of fijnds beld and the expected l¢vel of income
and expenditure for 12 months from authorising these finaneial statements. The budgeted income and
exponditure is sufficient with the lev¢1 of reserves for the charity to be able lo continue as a going concern.
1.13 Judgements ind key sources of estlmatlon uncertAlnty
In the application of the charity's accounting policies, the trustees are rcquii'ed to make judgements,
estimates and Js$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 ch￿itable activity on the
same ba818 as the expenditure inCu￿ed directly in uodertaking that activity.
12

GRACE WOMEN'S DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR EIYDED 31 1￿CH 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 Ma￿h 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