CHARITY REGISTRATION NUMBER.. 106927 Twaddell & Woodvale Residents Association Unaudited Financial Statements 31 March 2024 Finegan Gibson Ltd Chartered accountants Causeway Tower 9 James Street South Belfast BT2 8DN Twaddell & Woodvale Residents Association Financial Statements Year ended 31 March 2024 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements 10 Twaddell & Woodvale Residents Association Trustees. Annual Report Year ended 31 March 2024 The Iruslees present their report and the unaudited financial statements of the charity for the year ended 31 March 2024. Reference and admlnlstrativa details Registered charlty name Twaddell & Woodvale Residents Association Charity registratlon number 106927 Princlpal off Ice The Cabin 3 Twaddell Avenue Belfast BT13 3LE The trustees Evelyn Ann Bennett William Cupples Robert Fleming Colin Anderson Winston Irvine Alfred Mccrory Michelle McDermott Brenda Phillips (Resigned 14 Jun8 2023) Company secretary Evelyn Ann Bennett Independent examlner Finegan Gibson Ltd Chartered Accountant Causeway Tower 9 James Street South Belfast BT2 8DN Twaddell & Woodvale Residents Association Trustees. Annual Report (continued) Year ended 31 March 2024 Structure, governance and management Governing DoGument Twaddell & Woodvale Residents Association is managed by a committee consisting of not more than 13 and not less than 7 members of Twaddell & Woodvale Residents Association. Appoinlment of trustees The charity in general meeting shall elect the Truste8S. The Officers shall be elected annually by and from the members of the Committee at their first meeting followlng AGM. The Trustees may appoint a person who is willing lo act as a Trustee. Each of the Trustees shall retire with the effect from the conclusion of the AGM next after hlslher appointment but shall be eligible for re-election at that AGM. Relatlonshlps with related parties None of our Iruslees receive remuneration or other benefit from their work with the charity. Risk managgment TWFIA recognises that the organisation is exposed to certain risks due lo the nature of ils activities and the environment in which il operates. The key lo TWRA'S success is the effective management of risk to ensure its charitable purposes are achieved. Risks arise due to TWRA'S operational undertakings and from external sources. Risks occur in numerous ways and have the potential to have an impact on financial performance, reputation, health and safety, community and the overall performance of the organisation. In order lo fully understand such risks, TWRA has established a Risk Management Policy which provides the framework for how risk will be managed within the organisalion. It forms part of the governance framework of the organisation. The Policy addresses both strategic and operational risks. The trustees have a risk management strategy which comprlses.. an annual review of the principal rlsks and uncertainties that the charity faces., the establishment of policies, systems and procedures to mitigate those risks identified in the annual review,. and the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks malerialise. Twaddell & Woodvale Residents Association Trustees. Annual Report (continued) Year ended 31 March 2024 Objectives and activitles The purposes of the charity are: To provide courses and training for employment to residents of TWRA. To assist members of the community in trying to address housing, community and employability issues. Provide training within the community Asslst internal groups eg, Forever Young and TWIG with future programme plannlng. To support local people lo take part in peace and reconciliation activities as well as activities that address the legacy of the confllct. In shaping our objectives for the year and planning our activities, the Iruslees have considered the Charity Commission's guidance on public benefit. The strategies employed lo achieve the charity's aims and objectives are lo,. To assist residents with the Completion of forms and contact appropriate agencies on their behalf. To provide a medialionlnegolialion service for residents in dispute within community. To educate and develop those for future employment. To provide training and educational opportunities which increase the capacity of the local people to engage with peaco and reconciliation aclivilies. To provide opportunities for local people lo engage with others from different comrnunily and cultural backgrounds. To increase community awareness of home safety, health using statutory agencies for support,. and To provlde a range of activitie5 and programmes that promote a belter understanding of culture, heritage and idenlily. Twaddell & Woodvale Residents Association Trustees. Annual Report (Gonfinuerl) Year ended 31 March 2024 Achlevements and performance Twaddell & Woodvale Residents Association, following a successful application lo IFI'S peace Impact Programme a two-year funding package starting first of December 2023 has continued lo support conslilLJent TWRA user groups and formed relationships with some newly formed community organisations. TWRA has helped, and continues to help, Woodvale Community Hub - a newly formed group which has drawn some of ils membership from young people who may have been on a path which may have resulted in them getting into trouble. This support, afforded lo Woodvale Community Hub, has been in the form of advice concerning constitutions, fundraising, charitable status, positive cultural expression, trips to other community organisalions and have 'signposled' WCH to organisations which may help with community gardens, hiring premises, staff and members training and various other positive areas. TWRA will continue to support WCH in any way that is consistent with the Letter of Offer received from TWRA also organised two cultural identity trips to Dublin for Somme societies. Continuous support for TWRA'S women's group is ongoing - highlighted by the facilitation of a positive contact with a womens group from Dundalk, which will see TWRA pick up the Dundall< group and travel to Dublin lo visit sites of cultural significance. Other support lo TWRA'S women's group will be the form of singular programme presentations, e.g. debt management etc. thls will be facilitated by outside support followir)g a consultation. TWRA continues to facilitale dialogue concerning the parades issue in North Belfast. These talks are at a very d81icate stage at present with the approaching 'marching season, and need to be Irealed accordingly. Through contacts the organlsation has wilh stalulory organisalions and continues to develop, TWRA maintains a very well developed support structure for residents, young people, senior citizens, single parents and most other Gommunity members. Housing advice and general advice is available through TWRA'S close conlaGI with Ihe PSNI, health organisalions, schools, housing executive and social seNices. TWRA continues lo provide transfer lest preparation for local young people from a number of schools. This support is in the form of providing a Teacher and assistant, transfer papers, licenses, raw materials, teaching aids, laptops etc, At present preparation for the 2024 Woodvale Fesllval, which will take place in July, is in full swing and should see the Festival being bigger and better than previous years Twaddell & Woodvale Residents Association Trustees, Annual Report {¢onllnuèd) Year ended 31 March 2024 Flnancial review The financial performance has decreased from the previous year with a deficit of £41,501 {2023'. surplus £31,600). At the year end the unrestricted, free reserves of the organisation amounted to £31,040. ReseNes policy and golng concern Reserves are needed to bridge the liming gap between spending and receiving of income and to cover unplanned temporary shortfalls in income should they arise. Holding adequate reserves safeguards the provision of our services in the event of unexpected significant financial pressures. The trustees consider that the ideal level of reserves would be between three to six months expenditure which for the year ended 31 March 2024 would be between £87,374 and £174,747. TWRA delivers a range of programmes and seNices and has been successful in obtaining fundlng from a variety of sources. Plans for future perlods To address underlying issues effecling the Local Community. In particular, sectarianism & division, social disadvantage, educational underachievement. Increase skills and capacity of Local People in order lo meet challenges in Local Community. Support the Regeneration & Investment plans for the local area. Consolidate Peace & Stability & Contribute lo the Transformation from Conflict to Peace in Northern Ireland. The trustees, annual report was approved on 30 October 2024 and sign8d on behalf of the board of Iruslees by., Colin Anderson Trustee