Omagh Women's Aid Statement of financial activities (incorporating the income and expenditure account) For the year ended 31 March 2024 Period ended 2024 Perlod ended 2023 Unrestrieted Restricted funds funds Notes Income and endowments fro Donations and legacies Cbaritable activities Othci 3,391 12.460 21,408 3,391 347,345 21,408 18,396 336,935 5,184 334,885 Total 37,?59 334,88.fj 372,144 360,515 Expenditure on: Charitable activities Other 7.880 92 311,053 318.933 92 326,247 Total 7,972 311,053 319,025 326.358 Net incomel(expenditure) 29,287 23,832 53,119 34,157 Net incoming resources for the year I Reconcilation of funds Total fijnds brought forWd 190,201 39,366 •59.964 450,165 195.811fj) (56,439) 416,0()8 Totsl funds Carried forward 158.854 187,991 446.845 450.165 The statement of financial activities includes all gains and losse5 ill the year and therefore a separate statement of total recognised gains and losses has not been prepared. All of the above amounts relate to eontinuing activities. The notes on pages 9 to 14 form an iDtegTal p2rt of these finAnci21 st2tement& Page 6
Omagh Women's Aid Balance sheet as at 31 March 2024 2024 2023 Notes Tangible assets Current a&8ets Debtor5 Cash at bank and in hand 5.793 5.793 io 33.688 477.185 24.617 527.833 510.873 552,450 Creditors: amounts falling due within one year (69,821) (108,078) Net current assets 441,052 444,372 Net a&8ets 446.1145 450.165 Funds Restricted income filnds: ReStriCd income funds S.P. 75.114 112.877 91).648 169,316 Total restricted Income fvnds Unrestrictrd income ndS 12 13 187.991 ?58,R54 959.964 19(1,?11 I Total funds 44(i.k145 450.165 The Balance Sheet Continues on the following page. The Dotes OD pages 9 to 14 fonn an integral part of these financial statements. Page 7
Omagh Women's Aid Balance sheet (continued) Trustees statements required by the Companies Act 2006 for the year ended 31 March 2024 In approving these financial statements as tTUStees of the company we hereby confinn.. (al that for the year stated above the company was entitled to the exemption under section 477of ihe Companies Act 21KI6 relating to small cornpanies; (b) no members have required the company to obtain an audit of its accourbts for the year in question in accordance with seciion 476 of thc Compdni¢s Act 2006. (c) that we acknowledge our responsibility for complying with the requirements of the Act with respect to accounting rOrdS and for the prepation of accounts. These financial statements are prepared in accordance with the pmvisions applicable to companies subject to the small companies, regime. The financial statements were approved by the board on 2 December 2024 and signed on its behalf by Co ltsj Allison Forbes Director Cathy O'Neill Director The notes on pages 9 to 14 form an integrAI PArt of these financial statements. Pgge 8
Omagh Women's Aid Notes to financial statements for the year ended 31 March 2024 Accounting policies The principal accounting policies a summlsed below. 1.1. Basis of accounting and assessment of going concern The financial statements have been prepared in accordance with A¢counting and Reporting by Charitie5: Statements of Recommended Practice applicable to charities preparing their accounls in accordance with the Financial Reporting StaTrdd applicable in the UK and Republic of Ireland (FRS 102){effective l January 20151- (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the Companies Act 21MI6. The charity constitu$ a public beneflt entity as defined by FRS 102. Assets and liabilities are intially recognised at historical cost or transaction value unless otherwise 5taed in the relevani accounting policy no($). The trustees consider thai there are no material uncertainties about the chariry's ability to continue As a going concern. 12. Cashflow The Charity has taken advantage of the exemption in FRSI from the requirernent to produce a cashflow statetnent because it is a sma]I charity. 1.3. Incoming resources All incoming resources are included in the statement of fInancial activities when the chariiy is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policie5 are applied to particular categories of incorne: Voluntary incorne is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlemeni is not conditional on the delivery of a specific perfonnance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included. Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold. Grants, including grants for the purchase of fixed assets, are recogni5ed in full in the s&tement of financial activities in the Ye in which they are receivable. Income from investments is included in the year in which it is receivable. Page 9
Omagh Women's Aid Notes to financial statements for the year ended 31 March 2024 1.4. Resources expended Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be llY recovered. and is reported as part of the expenditure to which it relates. Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fllndraising purposes including the charitys shop. Charitable expenditure COTnprises those costs illcued by the charity in the delivery of it5 activities and services foi its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs e those costs incurred directly in support of expenditure on the objects of the charity and include project managemenl. 1.5. Tangible fixed assets and depreciation Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rate5 calculated to write off the cost les5 residual value of each asset over its expected useful life, as follows: Fixtyres. fittings and equipment 25% straight Iine 1.6. Defined benefit pension schemes The charity operates 8 defined berjefit pension scheme for employees. The Sets of the scheme held separately from those of the charity in an iDdependentIy administered fund. Current service costs. past service costs and gains and losses on setdements and curtailments a charged to appropriate resoLrces expended categorie5 in the statement of financial activities. Past service cosis are recognised over the vesting period or immediately if the benefits have vested. When a settlement (eliminating all obligations for benefits already accrued) or a curiailmeni (reducing future obligations as a result of a Material reduction in the scheme membership or a reduction in fijture entitlement) occurs. the obligation and related plan assets are remeasured using current actuariaI assumptions and the resultant gain or loss is recognised in the statement of fiThancial activities during the period in which the settlement or curtailment occurs. The interest cost and the expected return on asseis are shown as a net amount as other finance costs or income. Net pension finance costs ate allocated io appropriate resources expended categories itj the statement of fjnancial Ictivities. Net pension finance income is recognised as an incoming resource in the staternent of financial activities. Actuarial gain5 and 1055es are recognised itt]mediately as other recognised gains and losses in the statetnent of financial activities. Pension scheme a55et5 are valued at fair value at the balance sheet date. Fair value is based on market price inf0mtiOn and in the case of quotrd Securities is the published bid price. Pension scheme liabilities are measured on an actuarial basis using the projected unit method and are discounted to their present value using a rate equivalent to the current rate of retutn on a high quality corporate bond of equivalent currency and tenn to the scheTne liabilitie5. The pension scheme [Either: "surplus (to the extcnt that it can b¢ recovered) OR "deficit"] is recognised in full on the balance sheet. net of related deferted tax. Page 10