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 forW￿d
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&
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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:
ReStriC￿d 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.
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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
r￿OrdS and for the prep￿ation 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.
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Omagh Women's Aid
Notes to financial statements
for the year ended 31 March 2024
Accounting policies
The principal accounting policies a￿ summ￿lsed 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 StaTrd￿d 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.
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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 illcu￿ed 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
inf0m￿tiOn 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.
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