**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:
- 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 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:
- (i) which gives me reasonable cause to believe that in any material respect the trustees have not met the requirements to ensure that:
- proper books of account are kept in accordance with section 27 of the Charities Act (Northern Ireland) 1964, updated by section 63 of the Charities Act (Northern Ireland) 2008; and
- accounts are prepared which agree with the books of account and comply with the accounting requirements of the Act; or
- (ii) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
...........................................................
**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:
- Leasehold properties Straight line over the life of the lease - Fixtures, fittings and equipment 20% & 10% reducing balance and 20% & 25% straight line
**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**