HMRC Charltles Roglstrallon No. N100287 Company Reglstrallon No. N1030101 (Northgrn Irfjlandl THE RAINBOW PROJECT LTD (CHARITABLE COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Ro9Sst•red wlth The Charlty Commlsslon for Northern Ireland NIC1000064
THE RAINBOW PROJECT LTD CONTENTS Paga Membern of the 8aard and Profes51onal Advlsers Trustees, report Indepondent aUdlic3 report Statemant of financlal actlvllia8 10 Balanca shaat 11 Statement ol cash Ilows 12 Notes to the financlal statements 13-23
THE RAINBOW PROJECT LTD MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS TnJ8toes Mr Trevw Wrlght Ms Klmbedy Ann Walsh Mr Claran Moynagh Ms Karen Gerakllna Mcshane Mlss Nadlne Campbell Mr Shon8 Lynch Mrs Lauren O'Sulllvan-Harrl$ Mr Jonathan K8 Ms Nordh Chrfstle Ms Monlca Fltzpatrick Mr Donall Henderson (Appolnl8d 5 February 2023) (Appolnled 5 February 2023) {Appolnted 5 February 2023) Company ••¢r•tary Mr Scol¢ Cuthbert50 HMRC Charl11 R•f•ranc• number N100287 Tho Charlty Commlmlon for North•rn NIC100064 Imland numb•r Company numbar N1030101 R•glst•r•d offlc• Cathedrdl House 23-31 Warlng Street Belfast 8T12DX Indap•nd•nt audltor Johnston Kafiny DFK Chartered Acct>untants Reglstered Audltor5 10 Pllois Vlew Heron Road Belfast BT3 9LE Bankers AIB (NI) 551 Antrfm Road Fortwllllam Belfasl BT15 3BU sollcltors Phoenlx Law 92 Hlgh Street 3rd & 4th Floor Belfast BT128G
THE RAINBOW PROJECT LTD TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2023 Tha trustoes of the tharity for the purposes of th8 Companles Act 2006. submll thelr annual report and audrted financial statements for the year ended 31 March 2023. The trustees have adopted the Stslemgnt of Recommended Practlc8 {SORP) 'Accounling and Reportlng by CharttSes' (FRS 102) In preparlng Ihe annual report and financial statements of the Charity. The financial statements have been Pfepored In accordance wlth th8 accounllng pollcles sel out In note 1 to the nonclal stslements and comply wlth the charltable companls tgovgmlng document], the Companies Act 2006 and "Accounting and Reportlng by Chafltles: Statement of Recommended Practlc8 appllcable lo charltles preparlng thelr accounts In accordance wlth th8 Flnanclal Reportlng Standard apOlcabl8 In Ihe UK and Republlc of Iraland (FRS 102)" {0ffectlva 1 January 20191. R•vl•w of Actlvlty and Future D•v•lopm•nts Welcome to The Ralnbow Prolacvs Twst88 Report 2022-23. Thls report contalns delalls on what has been another extremely busy year far tha organlsallon 08 we conllnue io delfver servSces. InfluerKe pollcy and undertake rasearch lo understand more about tho LGBTQIA+ communlty In Northem Ireland. Llka many other organlsallons and s8NlceB, The Ralnbow ProJect Is deallng wlth tha Impact tha Covkt-19 pararnIC has had on peoplé's mental heallh and wellbelng. Our health and wellbelng serylces are In hlgh demand knthlch has an Impact on the amaunt of tlme tJur dlents on waltSng Ilsts, for 8er¥lces Such as our co cultural counselllng. The Ralnbow Project contlnues to grow ar In 2022-23 delfvered more 80rvSces than In any year befare It so wo wer8 pleased that wlth fundlng frorn the Rank Foundatlon w• warn able lo employ a Health and Wellbelng Officor to support our cllents through th•lr*umey of support. The Ralnbow Project works dlrectly wlth members of our communlty by offerfng a wrap-around s8rAce for cllenis to support Ihem thmugh our range of servlces, Includlng sexual health advlce and te8tlng; montal healih support; hate crfme advotxcy: c&cultural en58111n9. LGBTQIA+ youlh provlslon; reglonal support and a range of other Inlllatlves and programme8. We were also dellghled to secure another rn0 of fundlng to enable us to engage wlth the BAME communlty across Northem Ireland and work In partn8r8hlp wlth other servoceslgroups such as the Mlgranl Fonjm and Ralnbow Relugees, to provl(le h8allh, wellbelng and emollonal support. Th15 Yrk has begn partlcularly Important Sn the contexl of the mlgrdnt crfsls and TRP has been able to support a number of LGBTQIA+ Indlvldual8 seeklng asylum In Nl. Th8 Ralnbow Prloct has continued io grow <wr partnershlp daveloped wlth Slonewall In the delivery of a Dlverslty Champknns programma In Northem Ireland suppc¥tlng employers In meetlng the needs of thelr LG8TQIA+ employees. We hava contlnu•d to devdop our policy advocacy to 8n6ure we are not Just worklng to mltigale the Impacls of dlscrfminatlon. but also Wofklng lo ellmlnate that dlscrfmlnailon In the first place. Thls Is thr(gh delalled needs assessmgnts, research, comrnunlcailons, and campalgns. Th8 organlsatlon has wcKked with staff. volunteers and trustees In Implernenlallon of a &year ¥trateglc plan. Emerglng as a communlty response to the HIV epldemlc In 1994, our work and focus has contlnued to grow as we havg come to understsnd the full range of hollstSc approach8s requlrod to mlligale the impacts of dlscrfmlnatlon to address the health needs of LGBTQIA+ pecple. To monitor the organbsation's impacl and support the Ralnbow Prr4act In achlevlng Its vlslon: mlsslon. aims. and objectives, whlle remalnlng allgned lo our values, we adopted an oulcomes-based accountabillty mod81 In our strategic plan. We could not dellver thls range of aclivttles without a ojmmltted leam of staff and volunteer5 and the support of our fundersldonorslfundraisers. While charitable funding contlnues to come under real pressure. It Is a real achievement that the or9anlsatlon has malntalned the confidence and support of a range of funder5 who support our activities. Our positive relationshlps wlth funders were dernonstrated when we were able to communicate the Importance of testing and vacdnatlan at thg tlme of the Monkeypox outbreak during the Spring and Summ8r of 2022 resultjng In over 100 people requesting the vaccination and reducing Ihe potentlal impact of a l¢xal outbreak.
THE RAINBOW PROJECT LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Durlng 2022-2023, Ihe Trustees C<tInUed to focus on the govemance ol Ihe Prolect: ¢x settlng and monltorfng strategy. 8nsurfng systems of control were in place, monltoring finance, and c(Sidering major areas of rlsk. Day- to4ay management declslons are delegated to the Director. This work Included a number of Intemal revlews to ensure best practke and good govemance. Includlng a revlew of Th8 Ralnbow Ptycl'5 pollcles and procedure5 and volunteering systems. I1rg Ihls financlal year, The Ralnbow Project contlnued io Invest In a sustalnabllSty strategy almed al expandlng the sources of Income for the organlsation Indudlng a fOS glvlng. Th15 Investment was managed through our govemanca strnclure which Indudes a Sustalnabllty, Strategy and Flnance SuGrouP of the Board of Truste8s whlch has overseen the sustalnabllity stratogy and wlll revlew pn)gress t<hvards agreed maikars of Whole wa contlnue lo wStn•ss anoIng changa In the vlews and attltudes of 50clety In Northem Ireland that mlght hav• been un-lmaglnable ten or twenty yeats ago. we cannot be complacent. Homophobla, transphobla, bophobla and heten)sex15m are stlll prevalent In parts of the Northam Ireland communlty. Jr actlvlty last year. ha8 been sel agalnst a backdrop of Increased antS-LG8TQIA+ naTraUv85 In Northem Ireland and across the globe. We have been worklng our s8Ctor pathers and other organlsatlons to GUPPOrt those Inwacted, Includlng (Jur staff memb8r5 and In partlcular trans and non-blnary people. The Ralnbow Project provldes dedlcated sUPPOrt and soc181 opportunltl8S to our trans and non-blnary communlty through our Beu group and our hugely successful monthly trans and non-blnary 5wlmmlng $eoslons. Durlng 2022-2023 The Ralnbow Project strengthened our work on tha campalgn to ban so called 'converslon therapv. We partnered wlth the Department for Communltles to coffffilssSon research and have developed our rela¢)nshIpS organlsatlons across the UK and Ireland to maxlmlze our Smpact. The D8parlm8nl for Ccrnunltles ar• thus far MMIttIng to a ban on 80 called convor5kn pradlces. Two Independent academlu have been Identlfted lo asslst kn the propo$•d rnsearch pwojecl. Tho Ralnbow Prolect wlll have a role In locatlng and supportlng people to nwke thelr 8ubmlsslon to the research panel. The Ralnt)ow Pect Pollcy and Advocacy Officer, whlch Is lunded by the Joseph Rowntree Foundatlon, led our poIIcy, tMmnka0nS arKI engagement on thls Important work. We belleve any ban must ba comprehenslva th no loopholes. In Ireland, dlscusslons are SUII ongolng wlth Roderk ¢YGomwn Mlnl8ter for Chlldren, Equallty, Dlsablllty, Int8gratlon and Youth of Ireland but at recent IDAHOBIT evenl he advlsed that any legSslatSon wlll b8 trans Induslve. Academlcs have been Idenried to 88slst wlth the proposed rfjsearch prolecl whlch h18 department wants to Inltlato wlth Unlver51ty Coleg8, Dublln. our partner organlsatlon, LGBT Ireland. %%ill have a 1? In locatkng and supportlng people to make thelr subrnlsslons to Iho r•searth panel. The R8lnbow Project has been In the vanguard of prijmoung 85 wel a5 delendlng the rlghts, needs. vlews and expectallons ol the LGBTQIA+ communlty In Northem Ireland. In another year *tythout an Assembly cr Executlve, TRP contlnued to engage wllh polltlcal partS8s and, elacted representstives and departments. We contlnued to work wlth tho Department for Communitte5 and others In analyslng the recornmendatlons to produco a LGBTQI Strategy to make Sure It contalns targeted, measurabl8 and fesotsrced acllons whlch are achlevable arKI wlll make a real effecllve Impact on Ihe Ilves of LGBTQIA+ people. Throu9h dlscusslons that were Initlated wlth pollucal rew858ntatlves to 8Stabllsh an all-paty group In trans healthcare, MLA5 felt a wlder forum on LGBTQIA+ issues would be more benafKlal. The All-Party &oup on LGBTQIA+ Equallty subsequently launched In September. When the Nl Assembly does eventually come out of the current suspenslon we look Tward to further engagement Ihrough the AlbPaty Group. A5 (8 of Northem Ireland's kay communltylvoluntary sexual health organlsallons. The Ralnbow Pract contlnues to develop Its Sexual Health actlvStles and servlces. Our Rapld HIV and Syphllls Testing Service, now In lis 12th year, has begn developed and expanded with over 300 men accessing rapld testlng durlng 2022-2023. In a¢JdIu to thls. over 100.000 saf8r sex packs were dlstrlbuted io men across Narthem lrnland, and we commenced a key rnpaign, seeklng to bring new HIV dlagnosls to zero ihrough a rdng8 01 adlvltles and InvestrnenL Over the next year. The Ralnb¢)w Prolect will c(tinue to dev81op Its servlces in Ilne w6th a hollsllc approach lo the health and wellbeing of our beneficiaries including Identifylng and working to meet Ihe physl¢al as well as mental health ne8ds of our ben8ficiaries.
THE RAINBOW PROJECT LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 The RallOW Project contlnued lo be on the cuttlng edge of servlce provlslon during 2022-2023 wlth Ihe continuatlon of Northem Ireland's only ctrcullural gay affirniative counselllng servlce re5ulling in over 1,OIK) sesslons dellvered. ona to ¢Jne support, couple coun5elllng and the development of Therapeutlc support groups. We have also developed counselling placement posts lo support students In dev8loplng an LGBTQIA+ alTirmlng model of counselllng. W8 are stlll offering vldeo and phone sesslons with cSSents, and thls has allowed u5 to reach new dlenis partlcularfy those livlng In rural areas of Northem Ireland. Tralnlng for profe$slonals continued lo play a key rol8 kn our work wlth sexual crf•ntatlan and gender awarnnoss sesslons and an Introduction to gay affimwtiv• therapy sesslons belng dellvared. We have also develope(I new tralnlng programmes whlch offer partlclpants m¢xe awareness on trans and non-blnary Identltles and Issues. We wlll conunue to vKrk over the next year to ensure that revlsed mental health Promoon and sulclde pr8ventlc reglonal and locallty actlon plans are SUPPOrtlng the LGBTQIA+ populatlons as a prforfty. The Ralnbow ProJect's straieglc plan focus8es on changlng Ihg 1Sves of LGBTQIA+ people. changlng servlce provklers, changlng soclety and changing ourselves. Thls change will be achleved through the davelopmant and dellvery of key servic8s addresslng the needs of LGBTQIA+ people. worklng wlth others to Increase thelr awareness arHI knowledg8 of the needs of LG8TQIA+ people, worklnp to ensure soclaty value¥ the posllive Impact of LGBTQIA+ paople and contlnuously developlry our organlsatlon to ensure li Is flt for purposo. 3tructur•• gov•rnJnce and managamant The Ralnbow Project Ltd (vIOuslY Ralnbow Hgallh Llmlted) 18 regl8t•red wlth The Charfty CommI8on for Northem Ireland and Is a company Ilmlted by guarantee, Incorporated on 25 October 1995. It Is govemed by a Memornndum and Articles of AssocIatl( whlth were last amended on 22 September 2012. The trustees. who are also the dlrectors for the purpoge of company law, and who eeryed durfng the year and up to Ihe date of sbgnatura of the Ilnandal statemen18 Wern: M8 JonnyAshlon Mr Trevw Wrfght Ms Margarel Peacock Ms KlrnberfyAnn Walgh Mr Claran Moynagh MrAlan Kenneth Martln Ms Karen Geraldlne Mcshane Mlss Nadlne Campbell Mr Patrlck Hughes Mr Shane Lch Mrs Lauren O'Sulllv8n-Harrfs Mr Jonathan Kyle Ms Norah Chri511e Ms Monl(x Fltzpatrlck Mr Oonall Hend•rson (Reslgned 20 August 2023) (Reslgngd 3 FabNary 2023) (Reslgned 27 August 2022) (Reslgngd 16 Aprll 2022) (Appolnted 5 February 2023) (Appolnted 5 February 2023) (Appolnted 5 FetKuary 2023) None of the tru5tee5 has any beneficlal Interest In lh8 conpany. All of the trustees are membern of the company and guarnnlee lo contribut8 £1 in th8 event of a wlnding up. No emoluments weTe pald to dlrecl(Jrs durlng the year. Prfnclpal actlvlty To seek the benefit and enhancemenl of the mentsl, emollonal and physlcal health and wellbelng of lesblan. gay. blsexual and transgender people in Northem Ireland and, in parkncular. to advance educatlon and awareness by way of research. proviskjn of advocACy $8rvlces. dev8loprnent, assessment and development of Inf¢ymatknn and education Services: to provide car8 and support serllces, counselllng seThlces, cllnical services and advice relevant to health. particularfy Sexual health, and well-being", and to promote the equallty and rlghts of lesbian. gay, blsexual and transgender people.
THE RAINBOW PROJECT LTD TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Rlsk pollcy Th• Truslees wha servad durlng the yèar have undertaken an anfilysts 01 the wryk ol the tharmy: Idenlllled the ri5k8 lo whlch the charity h exposed and ara satlsled Ihat aN apprOPrta polic18s. praclKes and procedures are In place lo mltsgale those ii5ks. A Govemance suGIrP of the Board or Truslees ha5 been formed and has pfodtsced a reglsler ofmajor ri8k¥ and miUllBling onS. Flnanelal r•vl•w Durtng Ihls roPQrtlng pgrlad. the charity has rnakntsln•d a good finandal PD5illon on In (knnalions and reger4•s hold. The Tru5t8as have eWed the re5erve5 01 ihe chority. Conslderlng th8 varfable Incorne and fixed commiknenls. a5 wall as the wkler lundlng dlmal?, the reylow concluded thal la alow Ihe chsrlty lo prcvlde buffer lor unlnterrnplèd servlces. a ganeral iesepie equatlng approxlmalely four manth5 of tolal expondture $htsd be malnlalned. Th? Cufrenl Ire? rOSefYes held ty the chartty are £258.486 which Is 31.4% or eppmximalely lour mDnllks of Ihe lolal annual ¢xpendllure of 202212023. Stat•m•nt of trust••s' r••ponbIlIt[•l The trusloes. who aro 8lx) tha dlrodors of Th• Ralnbow Pmfjecl Lld for the puryi$e af comp8ny law, • responslble for preparin9 Ihe Tru51oes' Report ond Ihe flnancial slalements In accL¥dance whh opplk•blo law and Lkniled KlngdomAwJunting Standqrds (Unrled Klngdom Generally Accepled Accounllry Prncticel, Company Law Mqulrns lh• tru$tae8 preparn Iln8ncial $talam•nts lor •ath financial yoar which glve a Iru• and lalr vl•w of Ihe $lal8 ol affalrs ol the charilabl• company and of Ihe Incomlng rnsoUf end appllcallon ol resources. IlUdInG the Income and expenthturn, of the thorilobl• compeny for Ihat year. In prnparfng the59 fingndgl ststements, the tNStees 8re requlred to: - selKI sultable accounllng polid8s and th•n apply Ihem conBlgt•nUyi - obsgr¥• Ihé methods and In Ihe Charflle> SORP: - make ludgemenls a1 e$lSmales that *• reasonable and prudenl: - Stale wheihgr 4pplwblo UK h£¢ounllng Slandards have been rolluw, sublecl lo •ny maternl deportureg dljdosed and emplalnod in Ihe Ilnanclal statements; and - prepare the flnandal gtatements on the golng concern ba$1$ unless It ly Inappropdale lo weJum• #wt the charitable CCKnpany wll conunue in op¢rnllon. The Irustees ave respanslble fty keepry ad•quale 8¢vnI1n9 fecords thal disclose wilh reasonable accuraty al Hny tkne Iho Ilnandol poth ol the charftable cornpjny and enable Ihgm lo ensure Ihat the finendal JlaleffjBnts L)ynply with Ihe Companbes Acl 2006. They are also respon51ble for safegu8rdln9 Ihe assvls of the charftable company and he for laklng Weon9b18 stapj for the prevention aThl deleGtion ol fraud and other hTegulafblies. Audltor A resolutlon proposlng thal Johnston K•M•dy DFK be r&appoSnted ag audStorn of Ihe charlty b& pul kn the nu81 General MlIng. Dlsclosure of Inl4Jrmatlon to •udftor E&h ol the Iruslees has confKmed Ihal there Is no Infomiatlon of whlth they are aware whlch is ralevant to the audil bul ofwhlth th¢ audilw Is unawar8. Tlw have further conllrmqd Ihal Ihey have laken approprlale 51eps to klenlify suth relevant infomi•tlon and to eslabllsh thal the authiry is aware of suth Infomiallon. This report has been prepared in aCc8co wlih the speclal pro¥i8iix19 01 Part 15 ol the Companles Act 21)06 ml8ting to smal companle5. The truslee¥' reportwas approved by the Bowd of TAle85. Mr TIOr Wrfghl ChalTperson i.%.lJt.1.%5
THE RAINBOW PROJECT LTD INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE RAINBOW PROJECT LTD Oplnlon We havè audlted the financS81 statements of The Ralnbow Projecl Ud (the 'charllable company) for tho year ended 31 March 2023 whlth comprlse the statement of fmanclal activltles, the balance sheeL the statement of cash flov and the notes to the financlal statements, wicluding a summary of signrficant acung poIleS. The financlal reportlng framework thal has been applled In thelr preparatlon Is applicable law and Unlled Klngdom Accountlng Siandards, Including Financlal Reportlng Stsndard 102 The Flnenclal R8portlng Standard appllc8lJle In Ihe UK 8rn1 Ropublk of lrnland (Unlted Klngdom Generalty Accepted Accountlng Practke). Thls report Is made sdaly to th8 charltabl8 company's member5. as a boty. In acrnrd8nce wlth Chapter 3 of Part 16 of the Companles Act 2006. Our audlt work has been undertaken so that we mlght state lo the charftablo compantys members those matters we are requlred lo state lo Ihem Sn an audlioes report and for no other purpose. To the lullest extent perniltted by law, we do not accept or essume resp(51b1I1ty to anyone other than the charitable company and the charftable company's members as a body, for our audll work. for thls rnport. or for the oplnlons we have forrned. In our oplnlon, the financlal statements". glve a Irue end falr vlew of the state of the charitable companys a118lrs 08 at 31 March 2023 and of118 Incomlng resources and ar4)Ilcatk)n of resourcas, Indudlng tts Income and expendtture, lor the year then •ndad: have been prowly prepared In accordance wth Unlted Klngdom Generally &8p18d Accounllng Practlce; and have been Prepared Sn accordance wlth the requlrements of the compan[ Ad 21X)6. Bails lor oplnlon We conducted our aud5t In accordance wrth Intemallonal Standards on Audltlng (UK) (ISAS (UK)) and appllcable law. Our re5POn51bllltles under those standards are further des(xlb8d In tho Audllofs r•sponslbHftles for the 8udlt of th8 financl81 statern6nts sectl<Jn of our reporL We are Independent of the chartlable company In accordance wlth Ihe alhlcal requlrernenis that ere rolevant to our audlt of Ihe financlal statements In the UK, Includlng the FRC'S Eihlc81 standard. and have fulfilled our olher ethlcal responslbllltles In accL¥dance wlth these requSrements. We bg11gve that Ihe audlt 8vldenca we have obtalned Is suffl¢lent and approprfate to provlde a basls for our oplnlon. Concluslons ralatlng to golng eone•rn In audltkng the financlal Statements, we haveconcluded thalthe dlro¢ior3' U80 of the golng concem basls of accountlng In the preparallon of the flnanclal statements Is apProat0. Based on the work we have performed, we have not Id8ntlfiad ony maiorlol uncertalnti•s relalSng lo ents or condltlons that, Indlvldualty or collectively, may cast slgnlflcant doubl on the charftys ablllty to contlnue as a golng concem far a perfod of al leasl twelve months from when the financlal statements are authorfsed for Issue. Our responslbllllles and the responslbllltles of th• dlractors with respeci to golng concem arg dasbOd In th• relevant S8Ctlon8 of thls reporL Othor Inforniatlon The other knformatlon oynprfs8s th8 InfomOn Induded In the annual report other than the financlal statements and our audltoffs report thereon. The trustees are responslble for the other Informatlon contalned wlthln the annual report. Our oplnlon on the flnandal statements does nol cover the other Informallon and, except to the extent otherwlse explldlly slated In our report, we do not expr85s any foThn of assurance conduslon thereon. Our responsiblity 15 to read the oth8r Informatlon and, In dolng so. consider whether Ihe other infomiatSon rnaterially Inconslstent wlth the ffinanclal statements or cur kMvAedge obialned In the course of the audlt, or cthepmse appears to be materfally mlsstaled. If we Identlfy such materlal Snconslslencles ar apparent malerlal mlsstatements, we are requlred to determlne whether thls glves rise to a material misststement in the financial statements themselve5. If, based on the work we have perfOrnd, we condude that there Is a material mlsstatement of thls other Informauon. we are required lo report that fact. We have nothlng lo rep kn thls regard.
THE RAINBOW PROJECT LTD INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE RAINBOW PROJECT LTD Oplnlons on othor matters proscrlbed by the Companlos Act 2006 In our apinion, bas8d on lh8 work undertaken In the course of our audil.. the Infomiatlon gtven In the trustees, report, whlch Includes the directors, raport prepared for the purp08es of company law, for the financial year lor whlch the financlal statements are prepared Is conslslent wlth the finanaal sLqtem8nts; and the dlrectors, report Induded thIn tha trustees, report hag beon prepared in accordance wlth appllcable legal rnqulrements. Matters on whlch we arn raqulred to rnport by axcepilon In the Ilght of the knIledge and understandlng of the charltable company and Its envlronment obLqln8d In th8 course of tho audK we have not Identilled materfal mlsstsl8m8nts In the dlrector5' report Included wlthln the trustees, reporL W8 have noihlng to report In r03pgcI of the followlng mattern In relatlon to whlch Ihe Companles AGI 2006 requlres us lo report to you If, In our oplnlon: adequale accountlng records have not been kept. or retums adtyuate for our audlt h8V• not been recelved Irom branches not vlslted ty us: or the finandal Statements are not In agreement wlth tho accounllng rocowdg and retums; or certaln d18do8ure8 of trustees, remuneraljon speclfled by law are not made; or we have not recelved all the Informatlon and axplanatlons wo requlre for our audlt; or Ihe truslees were not entlued to preparn tha financlal statsments sn accor(lance th the small companles reglme and take advantage of the small ccffipanles, exemptlon8 In preparfng Ihe truslees, rep(rt and frorn the requlrement to prepare 8 5traieglG reporL R•spon8lbllltles of trust•es As explalned mora fully In tha ststemont of trusia•s' r•8ponslbSlltSe$, the tN8te•8, who are a150 the dlrectord of the tharltsble company for tha purposa of company law, are r8sponslble for the preparatlon of the financlal slaiements arKI for belng 8atlslled that they glve a true and falr vlew, and for such Internal control as th8 trustees detem)Ino19 nacessary to gnable the preparatlon ol ffinanclal slatemenis Ihal are fr88 from material ml8stat8rnent, whathgr due to fraud or error. In preparfng Ihe flnanclal Statements. the trustees are ro¥Jonslble for as5esslng the charltable corryjany's abEIIty io contlnu8 as a golng concem, dlsdoslng. as appllcablo, matters related to golng concem and uslng the golng concem basls of accountlng unless tho trustees elther Sntend lo Ilquldats the tharitsble coryany or to cease operatlons, or have no rea115tlc alternatSve but to do so. Audltofs r•sponslbllftJes for tha audlt of th• flnanclal ststem•nts Our obledves are to obtaln reasonable assurance about whelher the finandal statements as a whole ar8 free fr<Mn materlal mlsstatemenl, whether dug to fraud or error, and to Issue an audllorfs report that Includos our cplnlon. Reasonable assurance Is a hlgh level of assurance but Is not a guarante8 that an audlt conducted In accordanc? wlth ISAS (UK) wlll always detect a materfal mlsstatemenl when11 ex5sts. Mlsstalements can arfse from fraud or error and are consldered materS8l If, Indivldually or In the aggregate, they could reasonably be expected to Inlluenc8 lh• economlc dec181ons of users taken on the bas16 of these finandal staiemenls. The •cop• of our audlt Irregularfties. Sndudlng fraud, are Instsnces of non-compljance wlth laws and regulatlons. Wo design procedures In Ilne wlth our responslbllltles, outlln8d above, to detocl m8terlal rnlsstatements In respect ol Irregularilles, Includlng fraud. As part of our audit. we delermlned matortallty and assessed the rlsks of materlal mlsstatemen( In the financlal statements.
THE RAINBOW PROJECT LTD INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE RAINBOW PROJECT LTD Capablllty of tha audlt In deternilnlng Irregularftlos. Includlng fraud The ex18nt to whlch our procedures ar8 capable of deiectlng irregularities, Includlng fraud Is detalled below: the nature of the actfvilles and sector, control envlronment and perf0MnCe. results of our enqulrfes of management about thelr own Idenltllcailon and assessment of the rfsks of Irregulaflues; • any matt8rs wa IdentSfi•d havlng oblalned and revlewed the charltable companV$ documentstlon of Ihelr pollclas and procedures relatlng to: Idenufylng, evaluating and complylng wlth laws and régulatlons and whether th•y ware aware of any Inslances of non-compl1anc. delectlng and tespondSng to Iha rfsks of fraud and whether they hava knowledge of any actual, suspacled ar alleged fraud; tha Internal controls eslabllshed to mltlgata rlsks of fraud ar nOnoMPlI0nCO wlth laws and regulatlons; th8 mattors dlscussed among the audlt engagement team and relevanl Inlemal 8peoallsis where necessary regardlng haw and blthere fraud mlght occur In the financlal ststements and any potenllal Indlcators of fraud. As a resull af th888 procedures, w• Mnstdorad Ihe cpportunSlles and Incendve$ that May exlst wllhln the organlsatlon for fraud. In common wlth all audlts under ISAS (UK), we are also requlred to perfomi specific procedures to ro8pond to tho risk of management overrfde. We also obtaln¢d an undwstandlng of the legal and rngulatory framewofks Ihat th8 charttaljg company crat•S In, focuskng on provlslons of those laws and regulatlons that had a dlreci effect on the detgmitnatlon ol materlal amounts and dlsdosures In the financlal stalemeni8. The key laws and regulauons we con$ldered In th18 context Induded Ihe Companles Act 2006, Ihe Charftles Acl <Northem Ireland) 2008 and T8xallon LegIslaOn. In addltlon, we con51derod pnJvlsl¢Th of other laws and regulatlons that do not have a dlreci effect on the Ilnanclal Jiatements but compllance wlth whlch may ba fundamental to the chwltabl8 companvs ablllty ta operate or to avold a materfal panalty. AB a rn8uIt of perfonnlng the abov• our procedures to respond to rf8ks IdentSllad Includad tha lollowlng.. revlewlng the financlal statement dlsclosur88 and testlng io supportlng dOcUmlatIon to as8e88 compllance wlth tnvlslon8 of temg ¢1 fundlng. relevanl laws and regulallons described as havlng a dlrect Offect on the financlal statements; enqulthg cf management cOnmIng actual and polentlal IltlqatSon and clalms; perfomilng analYU1 procedures io IdentKy any unusual or unexpected r8lallonshlps that may Indlcate rfsks ol materfal mlsslatem8nt due to fraud: readlng mlnut88 ol meeungs of those charged wlth govemance and revlowlng cOrrespdenCe wSth HMRC; and In addresslng Ihe rlsk of fraud through management ovethde of controls, tesllng the 8pproprlalan8ss of loumal entsles and olher adJustmenis; assesslng wh8th8r the Judgoments made In maklng accounilng estlmates are Indlcat6v8 of a potential blas: and evaluatjng the l)uslnoss ratlonala of any slgnificant transactlons that are unusual or outslde tha normal course ol I¥ess. We also mmunIcated relevant Idenllfled laws and regulalion5 and polentlal fraud rlsks to 8118ngagement team members, Including Internal specialists. and remaln8d alert to any Indlcatlons of fraud or noTrcompllance wlth laws and r8gulatlons throughout the audit.
THE RAINBOW PROJECT LTD INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE RAINBOW PROJECT LTD A further descrlpllon of our re5ponslbllllles Is avallable on the Flnanclal Reportlng Councll's w8bslte at.. https:11 WW.frC.or9.UkIaudiI1x8re$ponSlbI[tse5. Thls description forms part of our auditorfs report. DuneAn Grnham (Sanlor Ststutory Audltor) for and on behalf of Johnston K•nn•dy DFK Chart•rnd Accountants statutory Audltor 10 Pllots Vtew Heron Ro•d Bolfa•t BT3 9LE Date: ...IsI.:-..I...........
THE RAINBOW PROJECT LTD STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 Unreslrlcted R•8trlcted funds funds Total 2023 Total 2022 Notes Income Donallons and legaclas Charitable advltles 112,914 302.487 112.914 723,162 92,863 699,232 420,675 Total Incom• 415,401 420,675 836.076 792,095 •n Charitable actlvlllas 443,595 378,734 822,329 622.382 N•t (outgolngylncomlng r••ourcos b•fov• tran•fern (28,194) 41,941 13,747 169,713 Gmss tran8fer5 between funds to cover OVerhd cos18 85.822 (85,822) N•t InCom(0XpendItUrn} for th• y•arl Nat mov•m•nt In funds 57,628 (43,881) 13,747 169,713 Fund tsalan8 at 1 2022 255,455 170,025 425,480 255,787 Fund bal•nc• at 31 Mar¢h 2023 313,083 126,144 429,227 425,480 Total r•cognl8•d galn8 and loss•s The statement of financlal actlvltles Indudes dl galns and loue8 recognlsed In tha year. Contlnulng operntlon$ The Statement of Flnanclal Actlvltlos has been prepared on the bas15 that all operatknns are LX)ntknulng operatlons. Comp•nl• Act 2008 The statement ol financlal actlvitles also complles wlth th8 requlrgm•nts for an Income and expendIlu aGGount under the Companles Act 2006. The notes on pages 13 to 23 fomi part of these finanoal statements 10-
THE RAINBOW PROJECT LTD BALANCE SHEET AS AT 31 MARCH 2023 2023 2022 Flxed aJJel¥ Tangble assets 11 12.762 8.081 CurT•nt a•s•t• Debtorn Cash al bank and In hand 12 126.821 43.506 425,916 511.465 469.422 Crndllors: amoun1• lalllnp du• wtthln one yo•r 13 185.000) <S2,023) N•1 cwrnnl aswts 426.465 417,399 Toial ass•th I•AS curr•nt Ilablllll 439227 425.480 Incorn• lund• Reslrlcied fvnds 14 126,144 170,025 DWnal lunds G•nirnl unrnTided fund5 54.$97 258.488 85.659 169.796 313.083 255AS5 439227 425.480 These Ilnandal 5talem8nt8 have been prepared In accorf8nce wlth ihe pmvlslom appllcabl• lo companles SUbcl 10 lh• smal Compan1 regime. 1s!iaJa3 The knndal 8talam•nls were approved ty the Trugtaeg on .-. . Mr Trnvor Wrlght Chalfp•rson Mlss Nadln• Campb•ll Tr•asur•r Company R•glstratlon No. N1030101 HMRC clrflIe R•ler•ne• No. NIIX1287 Rrylst•r•d wlth Th• Charlty Comml$3lon for Northem Ireland NIC100064 The notes on p8ges 1310 23 fomi part of these fmandal slalemonts 11
THE RAINBOW PROJECT LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Notes Cash flows from operallng actlvltloB Cash (abscrbed byygeneraled from operallons 21 (2e,636) 160,411 Invastlng actlvltla• Purchas8 of tsnglble fved a55ets {14,636) {9,008) Not Cash u8•d In Invutlng acllvltlos (14,838) (9,008) N•t ca•h u*•d In financlng actlvltl•8 N•t (decroaM)Ilncr•a8• In cash and euh equlval•nts (41,272) 151,403 Cash and cash equfvalents at bgglnnlng of year 425,916 274,513 Ca¥h and ¢a¥h •qulval•nts al and of yur 384,644 425,916 The notes on pages 13 to 23 form part of Ihese flnanclal statements 12-
THE RAINBOW PROJECT LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Prlnclpal accountlng pollcl•8 Charlty Infonnatlon The Rainbow Project Ltd is a private company Ilmlted by guarantee IncarFrated In Northem Ireland. The reglstered oifica Is Cathadral House. 23-31 Warlng StreeL 8elfa51, BT12DX. 1.1 Ba•ls of prnparallon The ffinanclal statements have been prepared In accordance wllh the Companles Act 2006 and 'Accountlng and Reportlng by Charttles: Statement of Recommended Practlce appllcable to tharlU8s preparfng t1r accounts In accordance wlth the Financlal Reportlng Standard appllcable In the UK and Republlc of Ireland IFRS 102>. (a5 amendad for accountlng perfods comm8nclng from 1 January 2016). The charltable company 18 a Publlc Benefit Entlty as d&finad by FRS 102. Tha finandal stalennts are prepared In sterllng, whlch Is th8 funcilonal currency of tha charitable company. Monetary annts In thes8 financlal statements arn roundad io th• nearest £. The flnanclal statements have been prepared under Ihe hIstcc8I co¥1 conventlon. The Pfh)dpal acetsuntlng polldes adopted aro sol out below. 1.2 Golng conrArn At the Ilme of apprevlng the financld statements, Ihe tw8tee8 have a reasonable expectatlon that the chartiable compony has adequate resources to contlnue In operaUonal exlstence for the foreseeable fulure. Thus the trustees cantlnue io adopt Ihe golng concem ba818 of accountlng In pr•parfng tha financlAI statements. 1.3 Charlt•bl• lund• Unfestrlcted lunds arn avallable for use at Ihe dSscretlon of the tru8leo8 In furtherance of Ihelr tharflable obctIVes. Daslgnat•d funds arn unrestrlcted funds sel aslde at Ihe dlscretlon or the tnJ8lees for speclfic purpo$•$. Restrlcted funds are subJ8d to spocffjc condltions by donors as to how they may be used. The purposas and uses of the restslcted funds are set out In the notes lo ihe Ilnanclal statements. 1.4 Incomlng rnsourc•s Income Is recognlsed when the charitable company Is legally entlued lo It after any perfonnance condllons have been mel, the amounts can be measured rellably, and It 55 probable that Income wlll ba rgcth*•d. Cash dcnatlons are rncognlsed on recelpl. Other donatEons are re¢J)gnlsed On the chariiable company has been nolmed of the donatlon. unless performanc8 condltlons requlre deferral of the amount. Income tsx recoverable In relatlon to donatlons recelved under Gift Ald or daeds cf covenant Is recogn15ed al the tlmg of the donatlon. Legacles are recognlsed on rec8lpt or olheNls8 If th8 charltable company has been noulled of an Impendlng dlstrlbutlon, Ihe amount is known, and recelpt Ss expected. If the amount Is not krK)wn, the legacy Is treated as a contlngent asset. 1.5 Resources expended Al 8xpendlture is accounted for on an accruals ba3ls and has been dasslfied under headlngs that aggregale al costs related to the category. The majortty of costs are dir8cUy attrlbutable to specific acllvrtles. Where costs cannot be direcliy attributed lo particular h8adings they have been allocated to aclivitles on a basls consistent with use of the resources. Staff costs and overhead expense5 are allocated to activities on the ba518 of staff Ilme spent on those activltles. 13-
THE RAINBOW PROJECT LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Prfnclpal accountlng poll¢l05 (Contlnuad) 1.6 Tanglbl• fixod as••ts Tanglble fixed assets are Inltlally ffleasured at cost and subsequently measured at cost or valuatlon, net of d8predatlon and any Impalment losses. Depredatkjnls recngnlsed so as to wrfta off the cost or valuatlon of assets less thelr resldual values over thelr useful Ilves on tha follcwlng bases: Office equlpment 33.3% stralght Ilne The galn or 1088 aris11 on the dlsp(Is810l an asset Is detemilnad as lh• dlfference between the sale proce8d6 arKI the carrylng value of the asset. and Is recognl8ed In the statemanl of finandal actlvltle8. 1.7 Impalrni•nt of fix•d a•8•ts At each reportlng end data, the charltable ccfflpany rnvl•ws the rryIng amounts of Its tsnglble ass•ts to delermlne whather there Is any Indlcatlan that those assets have suffered an Impalmient loss. If any such Indlcallon exlsts, the recoverable amount of the a8set Is esllmated Sn order to determlne the axlent of th• Impalmient108s {If any). 1.8 Cash and calh •qulval¢nts Cash and cash equlvalents Indude cash In hand, deposlts held al eall vAth banks. other short-terni Ilquld Investments wlth orlglnal maturltles af three months or less. and bank overdrafts. Bank ovardrafts arn shown wlthln borrowlngs In currnnt IlablllU•8. 1.9 Flnlnclal Instrum•nts The charftable company has elected lo appty the provlslons of Sactlon 11 'Ba8Ec Flnanclal In8trument8' and Sectlon 12 '0ther FInancl Instrumanls Issu8s' ol FRS 102 to all of Its financlal Initruments. Flnandal Instruments ar• rocognlsed In ihe charftable c(ryanYs balanco sheet when the charflable conwany bKom•g party to the contractual provlslons of tho Instrumgnt. Flnandal assets and Ilabllltles ara offs•l, wbth the net amounts pmsenled In the finandal slatements, when there Is a legally enforc88blo rfght to sat off th8 recognlsed amounts and Ih8rn18 an Intenilon to settle on net basls or to reallse the a8get and settla Ihe Ilablllty slmulianeously. Bask flNncl•l ass•ts Ba51c financlal assets. wthlch Indude ¢Jebtors and czsh arKI bank balances, are Inltlally measured at transacllon prSca Includlng transactlon ¢ts and are Subsequently carrled al amortlsed cost uslng the effectlve Interest method unless the arrangemenl con5tllutes a finandng transadon, where the transactlon Is measured at th& presenl valuo of the future recelpts dlscounted at a market rate of Interest. Flnandal assets dasslfied as recelvable wlthln one year ara not amortlsed. 8a$lc flnanclal Ilabllhles Baslc finandal Ilabllitles, Indudlng rxedStor5 and bank loans are Inltlally racognlsed al transactlon prlce unle53 the arrangement constitutes a ftnanclng transactlon, where the debt Instrument Is measured at the present value of the ftrture paymenis dlscounted al a market rate of Interest. Flnan(ial1Sabilities classtfied as payable thln one year are not am(Jllsed. Debt Instruments are subsaquenlly carrled at amortlsed cost, using the effethe Intere8t rale rnethod. Trade credltor3 obllgatlon5 to pay for goods or seryices that have been acquired In th8 ordlnary course of operatlons from supplieTr. Amounts payable are classified as currant Ilabllltles If paymenl Is due within one year or18S5. If not, they ar8 presented as non-current Ilablllties. Trade credltors are recognlsed Initially at transacuon prlce and subsequenuy measured at amortsed cost uslng Ihe effectiv8 inlerest method. 14-
THE RAINBOW PROJECT LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Prlnclpal accountlng pollcles Icontlnued) Derncognltlon of Ilnanclal Il•bllltles Financlal Ilabllltles are derecognlsed vth8n th8 charttable CoMpanS contractual obIlgans expire or aro di8chanJed or cancelled. 1.10 Employ•• b•n•ffits The cost of any unused hollday entltlement Is r8COgnlsad In the perlod In whlch the employee's servl¢es are recelved. Termlnaknon benefits are recognlsed Immedlalety as an expens• wthen the tharftable company 18 dem(strabIY commltted to temlnata the employment of an •mploy8e or to pravkle lem)Ination benefits. ctI1 accountlng Mtlmat•s and Judg•m•nts In the applScallon of the charltabla COMpanS accountlng pollcles, the trustees are requlred to make ILKlgern8nts, esumates and assumptlons about the carrylng amount of assets and Ilabllltles that are not readlly apparent from other sources. The esllmales and assodated assumptkjns arn based on hl8torlcal exper58nce and other facl¢ys that are consldered to be relevant. Actual results may dlffer from th8se astlmalag. The esllmatfjs and underlylng as8umpiions are ravlewed on an ongolng basls. Revlslon8 lo accountlnu estlmales are recognlsad In the perlod In whSch the astlmate Is revlsed where the rev151on affects only that perlod, ar In tha ptxSc#J ol the revislon and future perfods where th• revlslon affects both current and fvtura perfods. Donallons and legacl•s 2023 2022 Donallons and girts 112,914 92,863 15-
THE RAINBOW PROJECT LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charftablo acllvltles 2023 2022 Perf0mnC0 related granis Tralnlng Incorn8 700,682 22,480 691,162 8.070 723,162 699.232 Analysls by fund Unrestrkted fund8 Restrlcted funds 302,487 420,875 723,162 For th• year •nd•d 31 March 2022 Unrestrlcted funds Restrlcled funds 362,974 338,258 699,232 P•rforni•n¢• r•lat•d gran1• PHA Southem PHA Belfast PHA Westem PHA RSE Department of Health & Soclal SeTvlce8 Department of Health & Communlty Foundallon Woslem Health & Sod81 Care TNst The Natlonal Lottery Communlty Fund The Joseph Rowntree Charllable Tnt The Henry Smlth Chadty PSNI Aibert Cornrnunlty The Communlty Faundatk>n The Rank Foundailon Jobstart DFC Unlon Street SSE- BAME NIHE G51ead JRS Grant 11,873 166.539 57,066 11.360 151,194 64,514 70,253 24.333 65,713 23,429 111,994 32,050 52,400 17,000 24.333 56.325 24.352 81.641 47.080 52,300 54,032 3.000 26,000 37,321 16.0(10 29.476 12,500 15.909 16,192 25.000 9.821 71)0,682 891,162 16-
THE RAINBOW PROJECT LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charftabl• actlvltles 2023 2022 Employment Costs Establlshmanl costs Offlce expenses Printing, postage & stailonery AdvertSslng & promotlon Subscrfptkjns and donatlons Other dlrect charitable coslg Travol & subslstence Sundry & other costs 519,915 16,132 3,792 1,574 23.706 2.179 107.823 7,195 9.811 432,836 13.340 4,991 3.039 6,831 1.188 59,186 4,740 3,083 891,927 529,234 Shere ol support Costs (see note 7) Share of govemance costs (see note 7) 126,638 3,764 89,789 3,379 822,329 622,382 Analys1• by fund Unrestrlcted fund8 RestrfGtod funds 443,$95 378,734 822,329 For tho y•ar •nd•d 31 March 2022 Unrnstrlcted fund¥ Restrlcted funds 424.872 197.510 622,382 Net mov•m•nt In funds 2023 2022 Net movement In funds ts stated after charglngl(credltlng) F88s payable to the companys audltor lor the audlt of the company$ llnanclal siatem8nts Depredatlon of owned tanglble fixed a55ets 3,764 9,955 3.379 7,248 17-
THE RAINBOW PROJECT LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Support costs Support Govornanc• costs costs 2023 2022 Employment costs Depraclallon of langlble fixed assets Eslabll8hment costs R8palr5 and malnt8nanc• Offic8 8xpenses Advertlslng and promotl Legal and professlonal costs Bank charyes Sundry and other costs 36,261 9,955 44.148 4,019 12,602 2,679 36,261 9.955 44,148 4.019 12.602 2.679 40,227 7.248 27.460 1,293 3.750 3,695 5,069 243 476 476 8,554 Audlt fees 3,764 3,764 3.379 126.638 3,764 130.402 93.148 Analysed beiween Charltsbla actfvSiles 126,638 3,764 130,402 93,148 Governance costs Includas payments to the audltorg 01 £3,784 (2022- £3,379) lor audll feas. Tru•t• None of the trustees (or any persons connected wllh Ihem) recelved any rnmunarntlon or benefit8 from the chadtable company durfng the year. Employ••s Numb•r ol omplO•S The average monthly nurnber of employees {exdudlng dlrectors) durlng the year wa5: 2023 Numbqr 2022 Numb•r Number ol company staff 26 19 Employmant 2023 2022 Wages and 5al8rfes 556,176 473,063 There were no employees whose annual reffluneratlon was £60.000 or more. 10 Taxatlon The charity Is exempt from tax on income and gains falling within sectk)n 505 of the Taxes Acl 1988 or Becon 252 of the Taxation of Chargeable Gains Act 1992 to the extent that th8se are applled to Its charilable objects. 18-
THE RAINBOW PROJECT LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 11 Tanglbl• flx•d asHts oinc• •qulpm•nt Cost At 1 April 2022 Idluons 117.389 14.636 At 31 March 2023 132,025 D•preclatlon and Impalrni•nt At 1 Aprll 2022 Depr8dailon charged In the year 109,308 9,955 At 31 March 2023 119,263 Carrylng amount At 31 March 2023 12,762 At 31 Marth 2022 8.081 12 D•btor• 2023 2022 Amounts falllng du• wlthln on• y•ar. Other debtorn Prepayrnents and accrueql Income 41,922 84,899 27,172 16,334 126,821 43,$06 13 Cr•dltorn: amounts falllng du• wlthln one y•ar 2023 2022 Other credltors AccnJals and deferred Income 14,191 70.809 10,463 41,560 85,000 S2.023 19-
THE RAINBOW PROJECT LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 14 Rastrlcted funds The Income funds of tha charity Include restdcled fiJnd5 comprfslng the followlng unexpended balances of donatlong and grants held on trusl for ¥peclfic purp05e5: MoV•nnt In funds Balan at 1 Incomlng Resources Aprll 2022 r•sOu•S •xpendad Transfers Balanc• at 31 March 2023 PHA- Southem Tho Natlonal Lottery Communlty Fund The Joseph Rowntree Charitable Trust Comlc Rellef The Henry 8mlth Charlty PSNI Arfs Councll Nl NIHE Love Equallty Fund The Communlty F¢Jund8tlon Department of Health & Communlty Foundatl Gllead Ronk Foundatlon Jobstart DFC Unlon Street SSE 5,876 5,000 (4,000) 8.876 51,511 81,641 (72,982) (18,328) 43,842 9,326 1,801 13,036 (8,297) 315 543 1,800 9.618 47,080 (35,914) (8,175) (1,801) fl.607) (9.400) {315) {294) {1,800) {408) 12,317 52,300 54,032 {40,790) {28,156) 16,939 10,179 (249) {12,210) 57,498 25,000 56,325 (103,810) (4,386) {14,455) {34,941) {14.537) (7,384) (4,940) (12,500) (20,614 (4,200) {2.380) (2,489) 26,000 37,321 16.000 29,476 12,500 7,345 1,463 22,112 7,560 170,025 420,87S (378.734) (85.822) 126,144 Transfarn from restrlcted funds are to cover unallocat•d Overtad costs whlch not boen asslgned ta hdlvklual projects. PHA South•rn A rostrlcted grdnt to fund the development ol a Reglonal Lesblan, Gay, Blsexual and Tron8gender PR Strategy In the Soulhem area. Tho Natlonal Lottery Communlty Fund <FornllY known as Blg Lottery Fund - Out North w¢) A restrlcted grant to fund a Lesblan. Gay, Blsexual and Transgender Empowemient Project that alms to SUPPOrt young people currently Ilving in the Norih West of Nl. Tho Joseph Rowntrae Charttablo Trust A restricted grdnt to fund a Pollcy and Advocacy Manager. Comlc Rellgf A restricied grant to fund a full time Mental Health Development oificer to Include specllled project cost5 Induding carying out research. tralning and a menial health campalgn, as well as 08¥0clated core costs.
THE RAINBOW PROJECT LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 14 R•strlcted fundo (Conilnued) T H•nry Smfth Charlty A restrfcted grant towards salary & costs of a LGBT Health and Wellbelng Outreach Officer and the runnlng costs of a project providing peer arHI saclal 8UPPOrt groups to LGBT people In rural aroas ol Northem Ireland. PSNI Restrfcted grants to fund a Lesblan. Gay. Blsexual 8nd Transg8nder Advocacy Project. Arts Councll of Nl Restrlcied grants towards costs of The RaSnbow Prct- Branchlng Out. NIHE Re8trlct8d granlB to fund Ralnljow.. LG8TQ+ Houslng Support Project. Lov• Equallty Fund The c8mpalgn for #equalmarrfagg In North•m lrnland. Th• Communlty Foundatlon Rastrlcted grants towartls a health and wellbelng project provldlng a ItStenlng ear servlce and monthly onlln• clal groups for LGBT+ people across Northem Ireland. D•pathi•nt of Health & Communlty Foundatlon A trIded grant towards Staff and ovarh8ad costs assodated wlth tha LGBTQIA+ Mental Health Glload A r•st¢t£d grant for'St•Pg to Z•ro' project. Rank Foundatlon A restrfcted grant for the employment of a new 3.year enty laval posltion. Jobstart A restrlcled grant for the Jobstart sche offerSng lobs for yng peopl8 at rlsk of lonterm unemployment. DFC A restrlcted grant for'Researth irrto Conver51on Pracllc88 In Nl. pmject. Unlon Stroot Restricted funds recelved for rent and costs asscoclated wllh the new Unlon Street premlses. SSE A restrkted grnnt for the provlslon of a Mlgrant and Ethnlc Mlnorllles Officer. 21
THE RAINBOW PROJECT LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 15 D19n11•d funds The Income funds of the charfty Includ8 the following deslgnated funds whlch have been set aslde out of unrestrlcled funds by the trustees for spedfic purpos8S: B•lonc•at Trn 1 Aprll 2022 •xp•nd•d 8•knnc• al 31 Il•rch 20Z3 Servlcès 85,659 {324,079) 293,017 54,597 85.659 (324,079) 293,017 54.597 16 Analysls of n•t •9s•ts b•twe•n funda UnrnJtrl¢ted Fund¥ RtrIcted Funds Total Fund balances at 31 Marth 2023 are represented by: Tanglble assets CuThent asset81(Ilabllltlas) 8,918 117,228 12,762 426,465 309,237 313,083 12e,144 439,227 7 R•lat•d party tranMctlon• There were no dlsclosable related party transactlons durhlg Ihe year (2022- n0). 18 Contlng•nt Ilablllll•s A conungent Ilablllty 8xI8ts In respeet of grantg rnc•fved whlch may become reclalmable by funders shauld certaln conditlons under whlch they were awarded fall to be mel. 19 M•mb•ra' Ilablllty The ch8rfty1s a wivate company Ilmlted by guarantee and consequenuy does not have share capltal. Each of the members Is Ilabla to contrlbuta an amount not exceedlng £1 lowards the asseis ol the charity In th8 evant of Ilquklatlon. 20 Control The chaTIty1s controlled by the trustees who are all dlreciors of tha company.
THE RAINBOW PROJECT LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 21 Cash g•noratod from oparallons 2023 2022 Surplus the yaar 13,747 169.713 Adjustments for. Depreclallon and Impalmiént of tanglble fixed assai8 9,955 7,248 Movements In worklng capltal: (Increase) In debtors Inwa801(de¢rease) In crndllorn {83,315) 32,977 (7,272) (9,278) Cash (abSo•d byygemratsd from op•ratlons (26.636) 160,411 22 Comparallv•8 The 2022 comparatlves have been changed lo conlorm wlth 2023 presentat1. -23-