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2018-03-31-accounts

Charity number: X27676, NI102878

Rosemount & District Welfare Rights Group

Management committee report and financial statements

for the year ended 31 March 2018

Rosemount & District Welfare Rights Group

Contents

Page
Legal and administrative information 1
Management committee report 2 - 5
Independent examiners' report 6
Statement of financial activities 7
Balance sheet 8
Cash flow statement 9
Notes to the financial statements 10 - 17

Rosemount & District Welfare Rights Group

Legal and administrative information

Charity number X27676, NI102878 Business address Westway Rosemount Derry BT48 9NT Registered office Westway Rosemount Derry BT48 9NT Secretary Seamus Harkin Management committee Eileen Kivlehan Chairperson Jackie O'Reilly Appointed Treasurer 29/05/17 Seamus Harkin Secretary Mickey Glackin Michael Kivlehan Margaret Mooney Jacqueline Doherty Philip O'Neill Resigned 29/05/17 - formerly Treasurer Dee Dunne Dalton Kehoe Vice-chair Sean Young Michael Doherty Jean Martin Appointed 23/02/17 Sean Boyle Appointed 23/02/17 Marie Mooney Appointed 23/02/17

Council representatives

Michael Cooper & Shauna Cusack

The council representatives are nominated by Derry City & Strabane District Council to attend the management committee meetings of the charity although they do not have any voting rights at those meetings.

Manager Mr Thomas McCourt Accountants Shaun McGinty & Co Chartered Accountants 44 Woodbrook Derry BT48 8FF Bankers Bank of Ireland 15 Strand Road Derry Solicitors Brendan Kearney & Co Solicitors Clarendon House Clarendon Street Derry

Page 1

Rosemount & District Welfare Rights Group

Report of the management committee for the year ended 31 March 2018

The management committee present their report and the financial statements for the year ended 31 March 2018.

Management committee

The management committee who served during the year and up to the date of this report are set out below.

Eileen Kivlehan Chairperson
Jackie O'Reilly Appointed Treasurer 29/05/17
Seamus Harkin Secretary
Mickey Glackin
Michael Kivlehan
Margaret Mooney
Jacqueline Doherty
Philip O'Neill Resigned 29/05/17 - formerly Treasurer
Dee Dunne
Dalton Kehoe Vice-chair
Sean Young
Michael Doherty
Jean Martin Appointed 23/02/17
Sean Boyle Appointed 23/02/17
Marie Mooney Appointed 23/02/17
Secretary Seamus Harkin
Key Personnel
Manager Mr Thomas McCourt
Reference & Administrative Details
Charity number X27676, NI102878
Registered office Westway, Rosemount, Derry, BT48 9NT
Advisers
Independent Examiner Shaun McGinty & Co, Chartered Accountants, Derry, BT48 8FF
Bankers Bank of Ireland, 15 Strand Road, Derry
Solicitors Brendan Kearney & Co, Solicitors, Derry

Structure, governance and management

Governance

The organisation is a charity that is governed by a written constitution. It is recognised as a charity by HM Revenue & Customs (reference X27676) and it's Northern Ireland Charity Commission number is NI102878.

Membership & Structure

All persons living in the area of benefit aged 18 or over shall be eligible for membership of the group. The membership of the group will consist of a maximum of 15 members.

Membership Fees

All members of the group shall pay a membership fee of £5 per annum payable on acceptance.

Rotation of Membership

Two members, to be determined by lot, shall voluntarily retire every 3 years. Retiring members shall be eligible for re-election.

Page 2

Rosemount & District Welfare Rights Group

Report of the management committee for the year ended 31 March 2018

Management

Except as provided otherwise in the constitution, the group shall be managed by a committee, consisting of the Chairperson, Secretary, Treasurer, Assistant Secretary, Assistant Treasurer and Training Director to be elected by and from amongst the members present and voting at an Annual General Meeting.

Governance, internal control and risk management

The management of the charity conduct their own review of the major risks to which the organisation is exposed and establish systems to mitigate those risks. Significant external risks relating to funding have led to the development of a financial plan that will provide additional funding income to the organisation. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and programmes.

Objectives and activities

Charitable objects

The charity is established for the benefit of the community in Northern Ireland by the advancement of education and the relief of poverty,sickness and distress and any other charitable purpose and in particular, to provide in Rosemount and surrounding district legal services and welfare rights information to people, who because of their lack of means, could not otherwise afford such services.

Public benefit

Rosemount & District Welfare Rights Group strive to ensure that they provide public benefit. The principle objective of the charity is to encourage the advancement of education of the people in the local area and to assist them by providing them with support and welfare and legal advise that they would otherwise not be able to afford. As well as providing welfare rights advise to the people in Rosemount, the charity also runs a number of other programmes aimed at engaging with the residents of the area and seeking to tackle the problem of anti-social behaviour that occurs locally. It does this by providing advise to the residents as well as by organising activities for the young people who would otherwise become involved in anti-social behaviour.

Rosemount & District Welfare Rights Group has since it inception tried to provide an array of services and interests to benefit the local community. The charity's motto is "Unity of Purpose, Encouragement of Diversity" and it is with this as their ethos that all users of the charity work together in their own interests and in support of others in the local community. The charity has now established itself as a thriving community hub, used and appreciated by everyone in the area. The local community now feel that they have a resource which can provide for their needs and over which they have ownership. Through the work of the charity community cohesion is redeveloping and people in the catchment area feel more secure and less isolated.

Achievements and performance

Department for Communities

The financial statements for the year include grant aid income of £85,527 (2017: £89,985) from the Department for Communities under the financial assistance offer covering the wages costs of 3 core workers and a portion of the core overhead costs. This DfC funding was renewed for a further year to 31 March 2019. The financial statements also include £32,189 (2017: £37,292) of financial assistance received from the DfC in support of the running costs of the fitness factory facility and £ 25,743 to cover professional fees associated with the rebuilding project.

Derry City & Strabane District Council grants

The charity continues to provide welfare advice services in its catchment area The accounts include total grant aid of £8,250 (2017: £15,481) from Derry City & Strabane District Council during the year in support of the charity's activities.

BBC Children In Need

The financial statements for the year include £44,058 (2017:£30,895) of grant aid income from BBC Children in Need in support of the wages costs of 3 staff. This funding runs until June 2019.

International Fund for Ireland

The accounts include £18,597 (2017:£94,964) of income from the International Fund for Ireland in connection with the Time 2 Choose part 2 project. The related wages and other costs of the project are reflected in the expenditure for the year. This funding finished in June 2017.

Financial review

The financial statements for the year ended 31 March 2018 show total income of £289,721 (2017: £447,610) and total expenditure of £289,701 (2017: £460,669) resulting in a net surplus of £20 (2017: deficit £13,059). As at 31 March 2018 the balance sheet shows a net deficit of funds of £4,411 (2017: deficit £4,431).

Page 3

Rosemount & District Welfare Rights Group

Report of the management committee for the year ended 31 March 2018

Time 2 Choose programme

The IFI funded part of Time 2 Choose finished in June 2017 and the three funded employees who managed the programme were then made redundant. The March 2018 accounts include £ 18,597 of funding from IFI for the programme together with the matching wages and programme costs.

Fitness Factory

The March 2018 accounts include £22,614 (2017:£23,968) of operating income generated by the fitness factory gym exclusive of any grant aid received from funders. The charity also received funding of £32,189 (2017: £37,292) from DfC to assist with the running costs of the gym. In February 2017 NIHE awarded the charity funding of £20,000 to assist with the wages costs of one gym employee for one year. The March 2018 accounts include £17,666 (2017:£2,334) of this NIHE funding together with the related wages costs. This funding finished at the end of February 2018.

Going Concern

The 2 funding offers from the Department for Communities (DfC) for 3 core staff wages and core running costs as well as gym running costs have been renewed for another year up to 31 March 2019. The financial assistance from the BBC Children in Need for the wages costs of 3 employees runs until June 2019. The charity has reported a small surplus for the year ended 31 March 2018 after recording a significant deficit in 2017. The management committee continue to try to generate new income streams and control costs so as to try to build up reserves and cover the 2017 year deficit. If the charity is unable to obtain new funding, reduce the level of unfunded expenditure and at the same time generate new significant sources of income it will be difficult for the charity to be able to continue as a going concern.The Management Committee are however confident that they will be able to address both the need for new funding and also significantly reduce the amount of unfunded costs. Based on the current funding offers and management committee's confidence that they will be able to secure new funding and reduce costs, the accounts have been prepared on the basis that the charity will continue as a going concern. In the event that core funding was not renewed or new funding was not secured then the going-concern status of the charity would be called into doubt.The annual renewal of financial assistance by various funders would indicate their confidence both in the charity and in its management and provides a foundation for the organisation to develop and expand the range of services that it provides in its catchment area. The Management Committee are confident that in addition to the funding already awarded to the charity, they will be able to add to that funding base in order to reduce the level of unfunded operating costs and as such they are confident that the charity will be able to continue to operate. On this basis they believe that there are currently no issues in respect of the going concern status of the organisation.

Plans for future periods

The charity will continue with its core operations together with the various other programmes that it operates. The funding approved for the charity will allow it to retain its core staff together with the other project staff who will be employed for the duration of the different funding periods.

The management committee will continue to assess the financial performance of the charity during the current challenging economic times for the charity and voluntary sector in Northern Ireland and will look to secure additional funding so as to ensure the continued financial viability of the charity.

The management committee of the charity have taken steps to develop new income streams and plan to undertake a further general fundraising innitiative aimed at clearing the charity's overdrawn bank balances and which will also hopefully clear the current balance sheet deficit. As part of this process the decision has been taken to start charging the other voluntary groups that operate from the Rosemount premises for their use of the building and other resources. These groups have previously used the building free of any charges with the all costs being covered by the Rosemount & District Welfare Rights Group charity. At the same time the management committee will look to ensure that they minimise the amount of expenditure incurred that is not funded. It is hoped that both the new income streams and renewed cost controls will enable the charity to address it's funding issues and resolve the cashflow issues.

Page 4

Rosemount & District Welfare Rights Group

Report of the management committee for the year ended 31 March 2018

Statement of management committee responsibilities

The management committee are responsible for preparing the Management Committee Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Law applicable to charities in Northern Ireland requires the management committee to prepare financial statements for each financial year which give a true and fair view of charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements the management committee are required to:

The management committee are responsible for keeping proper accounting records which 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 the Charities Act (Northern Ireland) 1964 and the Charities Act (Northern Ireland) 2008 . 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.

The management committee are responsible for the maintenance and integrity of the financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and disseminiation of financial statements may differ from legislation in other jurisdictions.

On behalf of the board

Jackie O'Reilly Eileen Kivlehan Treasurer Chairperson 24 October 2018

Page 5

Rosemount & District Welfare Rights Group

Independent examiner's report to the management committee on the unaudited financial statements of Rosemount & District Welfare Rights Group.

I report on the accounts of Rosemount & District Welfare Rights Group for the year ended 31 March 2018 set out on pages 2 to 17.

Respective responsibilities of the management committee and independent examiner

The charity's management committee are responsible for the preparation of the accounts. It is my responsibility to state, on the basis of my examination, whether particular matters have come to my attention.

Basis of independent examiner's statement

My examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as the management committee concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

...........................................................

Shaun McGinty & Co Chartered Accountants Independent examiner 44 Woodbrook

Derry Northern Ireland BT48 8FF

Date: 24 October 2018

Page 6

Rosemount & District Welfare Rights Group

Statement of financial activities

For the year ended 31 March 2018

Unrestricted
Restricted
funds
funds
Notes
£
£
Income and endowments from
Income from generating funds:
Donations and legacies
2
3,860
240,212
Other trading activities
3
32,672
-
Other income
4
12,977
-
Total income
49,509
240,212
Expenditure on
Staff costs
5
24,041
145,298
Operating leases and hire costs
1,071
-
Establishment costs
6,294
43,476
Motor and travelling expenses
1,556
1,425
Accountancy fees
1,105
1,915
Legal and professional fees
-
400
Communications and IT
395
4,127
Other office expenses
44
2,069
Interest payable and similar charges
1,273
-
Depreciation and impairment
2,049
3,520
Projects and other direct costs
4,699
9,119
Project costs - Fitness factory
3,142
7,905
Project costs - Rebuild
-
24,478
Volunteer Expenses
300
-
Total expenditure
45,969
243,732
Net income/ (expenditure)
for the year
3,540
)
(3,520
Total funds brought forward
)
(12,314
7,883
Total funds carried forward
)
(8,774
4,363		 2018 Unrestricted Restricted
Total
funds
funds
£
£
£
244,072
9,400
389,778
32,672
29,743
-
12,977
18,689
-
289,721
57,832
389,778
169,339
39,681
218,185
1,071
364
-
49,770
12,473
50,465
2,981
918
4,579
3,020
200
3,290
400
-
-
4,522
318
4,892
2,113
2,973
1,224
1,273
2,793
-
5,569
2,246
4,786
13,818
7,571
89,412
11,047
2,500
7,305
24,478
-
-
300
-
4,494
289,701
72,037
388,632
20
)
(14,205
1,146
)
(4,431
1,891
6,737
)
(4,411
)
(12,314
7,883		 2017
Total
£
399,178
29,743
18,689
447,610
257,866
364
62,938
5,497
3,490
-
5,210
4,197
2,793
7,032
96,983
9,805
-
4,494
460,669
)
(13,059
8,628
)
(4,431

The financial statements were approved by the management committee on 24 October 2018 and signed on its behalf

Jackie O'Reilly Eileen Kivlehan Treasurer Chairperson

The notes on pages 10 to 17 form an integral part of these financial statements.

Page 7

Rosemount & District Welfare Rights Group

Balance sheet as at 31 March 2018

Notes
Fixed assets
Tangible assets
8
Current assets
Debtors
9
Cash at bank and in hand
Creditors: amounts falling
due within one year
10
Net current liabilities
Deficiency of assets
Funds
11
Restricted income funds
Unrestricted income funds
Total funds		 2018
£
£
25,442
17,560
15,114
32,674
)
(62,527
)
(29,853
)
(4,411
4,363
)
(8,774
)
(4,411		 2017
£
£
31,011
40,162
17,286
57,448
)
(92,890
)
(35,442
)
(4,431
7,883
)
(12,314
)
(4,431

The financial statements were approved by the management committee on 24 October 2018 and signed on its behalf by

Jackie O'Reilly Eileen Kivlehan Treasurer Chairperson

The notes on pages 10 to 17 form an integral part of these financial statements.

Page 8

Rosemount & District Welfare Rights Group

Cash flow statement

for the year ended 31 March 2018

Notes
Net income/(expenditure) for the year
Interest payable
Depreciation and impairment
Decrease in debtors
Increase in creditors
Net cash inflow from operating activities
Returns on investments and servicing of finance
17
Capital expenditure
17
Increase in cash in the year
Reconciliation of net cash flow to movement in net funds
18
Increase in cash in the year
Net funds at 1 April 2017
Net funds at 31 March 2018		 2018
£
20
1,273
5,569
22,602
12,946
42,410
)
(1,273
-
41,137
41,137
)
(30,083
11,054		 2017
£
)
(13,059
2,793
7,032
34,552
2,197
33,515
)
(2,793
)
(5,946
24,776
24,776
)
(54,859
)
(30,083

Page 9

Rosemount & District Welfare Rights Group

Notes to financial statements for the year ended 31 March 2018

1. Accounting policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.

1.1. Basis of accounting

The financial statements are prepared under the historical cost convention and in accordance with 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 2015)- (Charities SORP (FRS102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Charities Act (Northern Ireland) 1964 and the Charities Act (Northern Ireland) 2008.

1.2. Income

All incomes are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.

Gifts donated for resale are included as income within activities for generating funds when they are sold.

Grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activities in the year in which they are receivable.

1.3. Expenditure

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

1.4. Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Page 10

Rosemount & District Welfare Rights Group

Notes to financial statements for the year ended 31 March 2018

1.5. Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6. Defined contribution pension schemes

The pension costs charged in the financial statements represent the contribution payable by the charity during the year.

2. Donations and legacies

Unrestricted
Restricted
funds
funds
£
£
Donations
3,860
-
DfC grants - core
-
85,527
DfC grants - fitness factory
-
32,189
DfC grant - building fees
-
25,743
Derry City & Strabane District Council grants
-
8,250
Big Lottery - Time 2 Choose grants
-
-
EA (formerly WELB) grants receivable
-
4,304
National Lottery - Awards for All grant
-
-
BBC Children in need grants
-
44,058
Other grants receivable
-
3,878
IFICN - Time 2 Choose grants
-
18,597
DEL grants - fitness factory
-
-
NIHE wages grant - fitness factory
-
17,666
3,860
240,212		 2018 Unrestricted Restricted
Total
funds
funds
£
£
£
3,860
9,400
-
85,527
-
85,985
32,189
-
37,292
25,743
-
-
8,250
-
15,481
-
-
106,997
4,304
-
815
-
-
8,250
44,058
-
30,895
3,878
-
2,415
18,597
-
94,964
-
-
4,350
17,666
-
2,334
244,072
9,400
389,778		 2017
Total
£
9,400
85,985
37,292
-
15,481
106,997
815
8,250
30,895
2,415
94,964
4,350
2,334
399,178

3. Other trading activities

Unrestricted
funds
£
Fundraising events
10,058
Fitness factory income
22,614
32,672
Other income
Unrestricted
funds
£
Other income
8,057
Rental income
1,920
HMRC employment allowance
3,000
12,977		 2018 Unrestricted
Total
funds
£
£
10,058
5,775
22,614
23,968
32,672
32,672
2018
Unrestricted
Total
funds
£
£
8,057
7,299
1,920
8,390
3,000
3,000
12,977
18,689		 2017
Total
£
5,775
23,968
29,743
2017
Total
£
6,739
8,950
3,000
18,689

4. Other income

Page 11

Rosemount & District Welfare Rights Group

Notes to financial statements for the year ended 31 March 2018

5. Employees

Employment costs
Wages and salaries
Social security costs
Pension costs		 2018
£
158,270
10,433
636
169,339		 2017
£
242,534
15,193
139
257,866

No employee received emoluments of more than £60,000 (2017 : None).

Number of employees

The average monthly numbers of employees (including the management committee) during the year, calculated on the basis of full time equivalents, was as follows:


Management and Administration Staff - Salaried
Management Committee - Voluntary		 2018
Number

11
13
24		 2017
Number
17
13
30

6. Trustees' emoluments

The management committee are all voluntary and do not receive any remuneration or expenses in connection with their role on the committee.

7. Pension costs

The company operates a defined contribution pension scheme in respect of the eligible employees who choose to join the scheme. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and was as follows:

2018 2017
£ £
Pension charge 636 139

Page 12

Rosemount & District Welfare Rights Group

Notes to financial statements

for the year ended 31 March 2018

Long
Fixtures,
8.
Tangible fixed assets
leasehold fittings and
property
equipment
£
£
Cost
At 1 April 2017 and
At 31 March 2018
23,525
92,252
Depreciation
At 1 April 2017
8,861
75,905
Charge for the year
941
4,628
At 31 March 2018
9,802
80,533
Net book values
At 31 March 2018
13,723
11,719
At 31 March 2017
14,664
16,347
9.
Debtors
2018
£
Trade debtors and grants receivable
13,712
Other debtors
3,848
17,560
10.
Creditors: amounts falling due
within one year
2018
£
Bank overdraft
4,060
Trade creditors
29,278
Other taxes and social security
1,803
Other creditors
14,598
Accruals and deferred income
12,788
62,527		 Total
£
115,777
84,766
5,569
90,335
25,442
31,011
2017
£
37,056
3,106
40,162
2017
£
47,369
6,730
2,923
12,158
23,710
92,890

Page 13

Rosemount & District Welfare Rights Group

Notes to financial statements for the year ended 31 March 2018

11. Analysis of net assets between funds
Unrestricted Restricted Total
funds funds funds
£ £ £
Fund balances at 31 March 2018 as represented by:
Tangible fixed assets 24,732 710 25,442
Current assets - 32,674 32,674
Current liabilities (33,506 )
(29,021		 ) (62,527 )
(8,774 )
4,363		 (4,411 )
12. Unrestricted funds At At
1 April IncomeExpenditure 31 March
2017 2018
£ £ £ £
Unrestricted Funds (12,314 ) 49,509 )
(45,969		 )
(8,774

Purposes of unrestricted funds

Unrestricted funds are generated to assist with covering the operating and capital costs of the charity that are not funded.

Page 14

Rosemount & District Welfare Rights Group

Notes to financial statements for the year ended 31 March 2018

13. Restricted funds At At
1 April IncomeExpenditure 31 March
2017 2018
£ £ £ £
DfC funded costs 5,344 143,459 (145,300 ) 3,503
Derry City & Strabane District Council funded costs 852 8,250 (8,461 ) 641
Big Lottery Funds 1,260 - (1,174 ) 86
International Fund For Ireland 278 18,597 (18,867 ) 8
BBC Children In Need - 44,058 (44,058 ) -
NIHE funding - 17,666 (17,666 ) -
Other Funders 149 8,182 (8,206 ) 125
7,883 240,212 (243,732 ) 4,363

Purposes of restricted funds

DfC funding is awarded to the charity in the form of grant aid to assist with covering the wages and running costs of the organisation. The accounts include core funding grant aid of £85,527 from DfC together with the related matching expenditure. The accounts also include separate funding of £32,189 relating to revenue costs of the fitness factory project and a further £ 25,743 of funding to cover other professional fees relating to the rebuilding project. As at 31 March 2018 current assets include DSD grants owed of £12,212.

Derry City & Strabane District Council provide funding to assist with costs associated with the welfare rights and other services and projects run by the charity. The March 2018 accounts include £8,250 of revenue costs grant aid from the district council together with the related matching expenditure. As at 31 March 2018 current assets include a grant balance owed of £1,500 due from the council.

The International Committee of the Red Cross provided funding to assist with meeting the programme and operating costs of the charity. The March 2017 accounts include no grant income but expenditure includes £107 of depreciation relating to assets previously funded. As at 31 March 2016 this funding had finished and there are no deferred income balances remaining relating to this grant aid.

The Big Lottery Fund awarded three years funding to the Time 2 Choose project and this funding finished in early 2017.

The International Fund for Ireland awarded funding for the Time 2 Choose No 2 project finished in June 2017. The March 2018 accounts include £ 18,597 of income from IFI for the programme together with the matching related expenditure.

BBC Children in Need have provided grant aid funding to assist with covering the wages costs of three employees. The March 2018 accounts include £44,058 of grant aid recognised together with the related matching expenditure from the total funding of £50,862 that was received during the year. As at 31 March 2018 current liabilities include deferred income of £9,538 (2017: £2,733) that will be recognised in the next accounting period as the related expentiture is incurred.

During the March 2017 year NIHE awarded £20,000 of funding to assist with covering the wages costs of 1 employee in the fitness factory for one year. The March 2018 accounts include income of £17,666 (2017:£2,334) relating to that funding together with the related matching expenditure.

Various other funders provide funding to the charity to assist with meeting operating costs.

Page 15

Rosemount & District Welfare Rights Group

Notes to financial statements for the year ended 31 March 2018

14. Contingent liabilities

Grants received by the charity could be refundable in the event that the terms and conditions for receiving the monies as laid down in the letters of offer are not complied with.

15. Transactions with the management committee

There were no transactions with members of the management committee during the March 2018 year however March 2017 figures included a contribution of £4,000 received from Jackie O'Reilly, a member of the management committee and the charity's treasurer.

16. Controlling interest

The charity is controlled collectively by the management committee.

17. Gross cash flows

18.

Returns on investments and servicing of finance
Interest paid
Capital expenditure
Payments to acquire tangible assets
Analysis of changes in net funds
Cash at bank and in hand
Overdrafts
Net funds		 Opening
balance
£
17,286
)
(47,369
)
(30,083
)
(30,083		 2018
£
)
(1,273
-
Cash
flows
£
)
(2,172
43,309
41,137
41,137		 2017
£
)
(2,793
)
(5,946
Closing
balance
£
15,114
)
(4,060
11,054
11,054

Page 16

Rosemount & District Welfare Rights Group

Notes to financial statements for the year ended 31 March 2018

19. Going concern

As has been stated in the report of the management committee, grant aid funding from the Department for Communities was renewed up to 31 March 2019. Furthermore the financial assistance from the BBC Children in Need which was renewed in June 2016 for a further 3 years and also covers wages costs of 3 staff up until June 2019. The charity has reported a small surplus for the March 2018 year following on from the significant deficit in 2017 and the management committee continue to take steps to generate new income streams to cover that deficit. If the charity is unable to obtain new funding, reduce the level of unfunded expenditure and at the same time generate new significant sources of income it will be difficult for the charity to be able to continue as a going concern.The Management Committee are however confident that they will be able to address both the need for new funding and also significantly reduce the amount of unfunded costs. Based on the current funding offers and management committee's confidence that they will be able to secure new funding and reduce costs the accounts have been prepared on the basis that the charity will continue as a going concern basis. In the event that core funding was not renewed or new funding was not secured then the going-concern status of the charity would be called into doubt.

Page 17

Rosemount & District Welfare Rights Group

The following pages do not form part of the statutory accounts.

Rosemount & District Welfare Rights Group

Detailed statement of financial activities

For the year ended 31 March 2018

2018 2017
£ £ £ £
Incoming resources
Incoming resources from generating funds:
Donations and legacies
Donations 3,860 9,400
DfC grants - core 85,527 85,985
DfC grants - fitness factory 32,189 37,292
DfC grant - building fees 25,743 -
Derry City & Strabane District Council grants 8,250 15,481
Big Lottery - Time 2 Choose grants - 106,997
EA (formerly WELB) grants receivable 4,304 815
National Lottery - Awards for All grant - 8,250
BBC Children in need grants 44,058 30,895
Other grants receivable 3,878 2,415
IFICN - Time 2 Choose grants 18,597 94,964
DEL grants - fitness factory - 4,350
NIHE wages grant - fitness factory 17,666 2,334
244,072 399,178
Other trading activities
Fundraising events 10,058 5,775
Fitness factory income 22,614 23,968
32,672 29,743
Total incoming resources from generating funds 276,744 428,921
Other income
Other income 8,057 6,739
Rental income 1,920 8,950
HMRC employment allowance 3,000 3,000
12,977 18,689
Total incoming resources 289,721 447,610

Page 19

Rosemount & District Welfare Rights Group

Detailed statement of financial activities

For the year ended 31 March 2018

Resources expended
Costs of generating funds:
Wages and salaries
Employer's NIC
Grants - Staff - Pension costs
Operating Lease and Equipment Rental
Grants - Establishment - Rent
Establishment costs: Rates and Water
Establishment costs: Light and Heat
Establishment costs: Repairs and maintenance
Establishment costs: Insurance
Motor and Travel Costs
Accountancy Fees
Grants - Professional - Legal fees
Telephone and Related Costs
Printing, stationery & computer consumables
Advertising and Promotion
Depreciation Property
Depreciation Fixtures and Equipment
Activity expenditure
Projects and other direct costs
Project costs - Fitness factory
Project costs - Rebuild
Volunteer Expenses
Total cost of generating voluntary income
Fundraising trading:
cost of goods sold and other costs
Total costs of generating funds		 158,270
10,433
636
1,071
22,900
230
14,792
7,764
4,084
2,982
3,020
400
4,522
1,716
50
941
4,628
13,818
11,047
24,478
300		 238,439
49,643
288,082
288,082		 242,534
15,193
139
364
38,130
1,512
15,943
2,581
4,772
5,497
3,490
-
5,210
1,684
1,265
941
6,091
96,983
9,805
-
4,494		 345,346
111,282
456,628
456,628

Page 20

Rosemount & District Welfare Rights Group

Detailed statement of financial activities

For the year ended 31 March 2018

2018 2018 2017 2017
£ £
Charitable activities
Miscellaneous office expenses 347 1,248
Interest & charges - Bank loans & overdraft 1,273 2,793
1,620 4,041
Total other costs 1,620 4,041
Net income/(expenditure) for the year 19 (13,059 )

Page 21