WOMENS_CENTRE_DERRY_LTD - Accounts

The Trustees present their annual report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

The principal activity of the company is to challenge the oppression and discrimination of women, as it exists, in all forms and it is committed to joining with other women, and women's groups, around positive initiatives for change. Through the activity of the centre, space is provided where women have the opportunity to explore their lives, make new choices and gain support to act on these choices.

The objects of the company as stated in the Memorandum & Articles of Association are to benefit the community in Derry ~ Londonderry and the Northwest, in particular women members of the community, by the relief of poverty and the advancement of education in matters relating to mental, physical and social welfare and in particular to provide centres for the supply of advice and guidance; arrange and provide the holding of meetings, lectures, workshops and classes; and do all things as are necessary for the furtherance of the objectives of the Company.

Public Benefit

The trustees have considered the charity legislation which sets out the requirements for charities to demonstrate the aims and activities are for public benefit. The Trustees confirm that they have had regard to the Charity Commission NI guidance on public benefit.

The beneficiaries are socially excluded women and their families living in the area of benefit. The direct benefits which flow from our purposes include:

• Improved educational achievements, knowledge and resources to enable women and their families out of poverty.

• Increased empowerment and confidence to enable women to make positive changes to alleviate the effects of poverty.

• Increased capacity for gaining employment enabling women to create a better future.

• Improved life skills and abilities.

• Improved quality of life for individuals and families in the community.

• Increased social inclusion for women and families.

The strategies employed to achieve the charity’s aims and objectives are:

• Providing a holistic program of educational, recreational and life skills opportunities for individuals.

• Providing education to best suit the needs of women and families in the community.

• Providing on-site childcare to enable parents to access and participate in education activities

• Providing education and social welfare facilities and resources for the use of individuals in the community.

The benefits are evidenced through qualifications gained, employment secured and evaluation feedback from beneficiaries. There is no private benefit to trustees.

In 2022/23 Women’s Centre Derry responded rapidly to the needs of the community to ensure women and children were supported during the cost of living crisis while also continuing to rebuild our community after the impacts of COVID-19. The Centre’s work is embedded in women’s empowerment and equality. We deliver our aims by providing access for women to a holistic range of activities including education, training, skills and support. The Board of Directors was diligent in carrying out their governance responsibilities and contributed a range of management skills and specialisms to the organization including:

• Finance

• Youthwork

• Learning Support

• Management

• Translation

• Community Development

• Early Years

• Education

• Autism and Employment

Staff training and continuous personal development was encouraged and delivered throughout the period. We maintained the organisation’s Investors in People award, received the highest outcome on an ETI inspection and had a creche inspection with no areas for improvement. To provide the programmes and activities we employed 17 permanent staff and contracted the services of 32 part-time tutors and facilitators. Together with management, these teams worked alongside participants to change lives and place women’s development, empowerment and equality at the core of our work.

In 2022/23 the centre delivered 9 projects, providing 1,617 course places. Participants on formal courses achieved 195 qualifications. Over the past year the PROSPER 4 project has supported 72 women into employment and 116 into further education.

Childcare services and children’s programmes providing places for 741 individual children this year. Our onsite creche provided 13,901 childcare places.

The impacts of the Centre’s work will be benefitting our communities for years into the future. All credit to the staff teams and leaders who responded so well to the challenges with creativity and innovation.

We collaborated with 60 organisations and statutory agencies in the area to promote equality and access for women. We partnered with the Women’s Regional Consortium to support groups to deliver essential front-line services in disadvantaged and rurally isolated communities.

We collaborated with 60 organisations and statutory agencies in the area to promote equality and access for women. We partnered with the Women’s Regional Consortium to support groups to deliver essential front-line services in disadvantaged and rurally isolated communities.

We delivered several multi- cultural projects supporting 92 BME families, providing a warm welcome and an opportunity to make friends and connections this work is invaluable and rewarding for women who are new to our community. It contributes to building a safe, diverse and equal community.

Total income for the year was £625,472, of which £605,566 was received from grant aid funding. £10,307 represents enrolment fees in respect of lectures, workshops and classes. £9,599 was generated in respect of donations received.

Total expenditure was £539,979, all of which was expended on direct charitable activities.

The balance on total funds at the year-end was £806,304, of which £293,384 were unrestricted income funds, £459,364 were designated funds and £53,556 were restricted funds.

Going concern

The charity's largest source of grant funding is from the Prosper 4 project funded by the Department for the Economy's Northern Ireland European Social Fund programme. This programme has been restructured from 1 April 2023 and moving forward will be funded through the UK Shared Prosperity Fund. Women's Centre Derry will continue to deliver this programme from 2023/24 onwards as part of a consortium. Accordingly, activities will be scaled back in line with reduced funding through this project.

Furthermore, the Women's Centre Derry receives funding from the Department for Communities for core salary costs. Due to the uncertainty arising from the lack of an operational Executive at Stormont, this funding is currently confirmed until September 2023. The trustees have a reasonable expectation that this funding will be extended, however are also planning to mitigate the risk of funding not being secured by sourcing alternative funding and considering alternative income streams. The trustees have also considered the extent to which activities and expenditure should be curtailed, should circumstances arise.

Reserves Policy

The Trustees consider it prudent to hold monies in reserve in the event that unforeseen circumstances should lead to financial difficulties which might put the future of its employment capacity, general charitable work and property in jeopardy.

The Trustees have examined the charity’s requirements for reserves considering the main risks to the organisation and established a formal policy which stipulates that free reserves be maintained at a level which ensures that the charity's core activity could continue during a period of unforeseen difficulty. Free reserves are defined by the Trustees as unrestricted income funds freely available for use as the charity so determines and thereby excludes any funds committed, invested in tangible fixed assets held by the charity and restricted or designated funds.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. Based on the year ended 31 March 2023 expenditure (excluding depreciation and non-recurring costs) of £506,259, the target level of reserves is £125,000 to £250,000. Free reserves of the charity as at 31st March 2023 are £290,059, therefore the Trustees are pleased to confirm that the charity is compliant with its reserves policy. The Trustees continue to strive to maintain a general level of reserves in accordance with their policy so that they will be able to continue the current activities of the charity.

Within unrestricted funds, a designation of £459,364 has been set aside represented by the property at 5 Guildhall Square owned and used by the charity on an on-going basis for charitable activities. The designated funds balance is equivalent to the depreciated historic cost of the capital expenditure. A sum equivalent to the depreciation charge on the building will be allocated each year to the designated fund, until it is fully amortised.

Risk management

The Trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

The Trustees, in conjunction with the senior management team, are aware of the major risks to which the charity is exposed. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Internal control risks are minimised through the procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with applicable laws and regulations. All procedures are periodically reviewed to ensure that they continue to meet the needs of the charity.

In the next year we will continue to deliver COVID recovery support programmes as an additional element to our work. A project is in place to support mothers with mental health issues. We will continue to combat poverty by engaging socially & economically isolated women. A new Strategic Plan is in place to guide the centres work up to 2028.

Governing document

Women’s Centre is a company limited by guarantee and accepted as charitable by Charity Commission for NI under reference NIC100762 and by HMRC under reference XR 19291. The company was incorporated on 17th November 1997. The company was established under a Memorandum of Association which established the objects and powers of the company, and is governed by its Articles of Association. The liability of members is limited in that every member of the company undertakes to contribute an amount not exceeding £1 in the event of the company being wound up.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Recruitment and appointment of Trustees

The Board of Trustees manages the process of recruitment and appointment of Trustees, and may admit to membership any person interested in promoting the objects (primary purpose) of the company.

Organisational structure

The Trustees have ultimate legal and financial responsibility for the affairs of the Women's Centre and are responsible for the strategic direction and policy of the charity. The Trustees are from a variety of professional backgrounds relevant to the work of the charity.

A scheme of delegation is in place and responsibility for the provision of services rests with the Centre Director, who is responsible for the day to day operational management of the charity.

The Trustees remain satisfied that the Women's Centre is compliant with good governance practices in line with the requirements of the Charity Commission of Northern Ireland.

The Trustees, who are also the directors of Womens Centre Derry Ltd for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the Trustees are required to:

- select suitable accounting policies and then apply them consistently;

- observe the methods and principles in the Charities SORP;

- make judgements and estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In accordance with the company's articles, a resolution proposing that Moore (NI) LLP be reappointed as auditor of the company will be put at a General Meeting.

Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The Trustees' report was approved by the Board of Trustees.

Opinion

We have audited the financial statements of Womens Centre Derry Ltd (the ‘charity’) for the year ended 31 March 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

We draw attention to note 1.2 of the financial statements, which describes that the charity receives funding for core salary costs from the Department for Communities, which is currently confirmed until September 2023 due to the lack of an operational Executive at Stormont. Our opinion is not modified in this respect.

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

the information given in the Trustees' report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and

the directors' report included within the Trustees' report has been prepared in accordance with applicable legal requirements.

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the Trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

we have not received all the information and explanations we require for our audit; or

the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' report and from the requirement to prepare a strategic report.

As explained more fully in the statement of Trustees' responsibilities, the Trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company.

Based on our understanding of the charitable company and its operating environment, we determined that the most significant frameworks which have a direct impact on the preparation of the financial statements are those related to the reporting framework, (FRS 102, the Charities Act (Northern Ireland) 2008, The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015, the Charity SORP and the Companies Act 2006). Additionally, we concluded that there are significant laws and regulations in relation to the company's charitable status and activities of which non-compliance may have a material effect on the financial statements.

We assessed the susceptibility of the charitable company's financial statements to material misstatement, including how fraud might occur, including evaluating management's incentives and opportunities to manage earnings or influence the reported results. From the results of our assessment, we determined that the principal risks of fraud relate to posting inappropriate journal entries and use of charity funds for purposes outside of restrictions imposed by the donor. In common with all audits under ISAs (UK), we are required to perform specific procedures to respond to the risk of management override.

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. Audit procedures performed by the engagement team included:

• We obtained an understanding of the charitable company's internal control systems in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the charitable company's internal control.

• We obtained an understanding of how the charitable company complies with relevant laws and regulations, including those as a result of its registration with the Charity Commission for Northern Ireland and charitable status with HM Revenue & Customs , by making enquiries of management and those charged with governance.

• Enquiry of management, those charged with governance and the entity’s solicitors around actual and potential litigation and claims.

• Enquiry of entity staff to identify any instances of non-compliance with laws and regulations.

• Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud

• Reviewing minutes of meetings of those charged with governance

• Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

• We test the completeness of income to address the risk of fraud in relation to revenue recognition

• Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions that are unusual or outside the normal course of business.

• Auditing the risk of use of charity funds outside of restrictions imposed by the donor by review of funding letters of offer to identify restrictions, and review of funding claims prepared by management to check compliance with restrictions.

We communicated relevant laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment through collusion, forgery, intentional omissions, misrepresentations or the override of internal control.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

designated

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

designated

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Womens Centre Derry Ltd is a private company limited by guarantee incorporated in Northern Ireland. The registered office is Beibhinn House, 5 Guildhall Street, Derry, BT48 6BB.

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The charity's largest source of grant funding is from the Prosper 4 project funded by the Department for the Economy's Northern Ireland European Social Fund programme. This programme has been restructured from 1 April 2023 and moving forward will be funded through the UK Shared Prosperity Fund. Women's Centre Derry will continue to deliver this programme from 2023/24 onwards as part of a consortium. Accordingly, activities will be scaled back in line with reduced funding through this project.

Furthermore, the Women's Centre Derry receives funding from the Department for Communities for core salary costs. Due to the uncertainty arising from the lack of an operational Executive at Stormont, this funding is currently confirmed until September 2023. The trustees have a reasonable expectation that this funding will be extended, however are also planning to mitigate the risk of funding not being secured by sourcing alternative funding and considering alternative income streams. The trustees have also considered the extent to which activities and expenditure should be curtailed, should circumstances arise.

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Expenditure on charitable activities includes the costs of childcare and educational services undertaken to further the purposes of the charity and their associated support costs.

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's programmes and activities. The bases on which support costs have been allocated are set out in note 6.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

The company is a charity and is recognised as such by HM Revenue & Customs under the charity tax reference XR 19291. As a result there is no liability to taxation on any of its income.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Courses and craft income

Grant funding

Course and accreditation fees

Facilitation and evaluation

Project expenses

Property costs

Repairs and maintenace

Office costs

Advertising, marketing and publicity

Travel expenses

Staff training

Insurance

Consumables

Bank charges

General expenses

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs represent time spent by staff on back office work, finance, personnel, payroll and governance matters which are necessary to plan, direct and monitor the charity's programmes and activities.

The average monthly number of employees during the year was:

Included within employment costs is a total of £13,576 in respect of redundancy costs. These costs have been funded from the charity's general unrestricted reserves.

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £21,900 (2022 - £21,434).

Designated funds is the value of unrestricted funds represented by the property at 5 Guildhall Square owned and used by the charity on an ongoing basis for charitable activities. The period end balance is equivalent to the depreciated historic cost of the capital expenditure. A sum equivalent to the depreciation charge on the building will be allocated to the designated fund each period, until it is fully amortised.

Certain grants received and receivable may become repayable to the funder if the charity is no longer able to meet the conditions under which they were awarded. Due to the nature of these contingencies it may not be possible to quantify the potential financial effect or give an indication of the timing as to the liabilities that may arise.

During the year there have been net transfers between funds in the amount of £93,572 (2022: £9,510) from restricted funds to unrestricted general funds as follows:

• transfer of £99,992 (2022: £27,118) from restricted funds which represents surplus funding for indirect costs in accordance with funding agreements which is being released and transferred to unrestricted funds;

• transfer of £6,420 (2022: £17,608) from unrestricted to restricted funds which represents the charity's contribution from unrestricted funds towards the cost of providing charitable services.

The remuneration of key management personnel is as follows.

The Women's Centre has a close working relationship with WISER (NI) CIC, a community interest company which provides private childcare services and non-funded courses and workshops. The Board of Trustees of the Women's Centre are also Board members of WISER (NI) CIC therefore both entities are under common control.

During the year, the Women's Centre had the following transactions with WISER (NI) CIC:

• secondment of a childcare staff member to WISER for the provision of childcare services. The total amount invoiced to WISER was £3,000 (2022: £3,000). This amount remains outstanding at the year end (2022 - none).

• WISER collected £1,670 (2022: £3,105) in relation to enrolment fees for courses which is owed to the Women's Centre. This amount remains outstanding at the year end (2022: £3,105).

• gift aid covenant income from WISER in the amount of £6,332 (2022: £11,491). This amount is included within donations and legacies and remains outstanding at the year end.

The charity had no debt during the year.

In common with many businesses of its size and nature, the charity uses its auditors to assist with the compilation of the statutory financial statements.