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2019-03-31-accounts

Charity number: X27676, NI102878

Rosemount & District Welfare Rights Group

Management committee report and financial statements

for the year ended 31 March 2019

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 2019

The management committee present their report and the financial statements for the year ended 31 March 2019.

Management committee

The charity trustees (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 2019

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 £85,566 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 2020. The financial statements also include £30,848 of financial assistance received from the DfC in support of the running costs of the fitness factory facility and £ 20,424 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 and received funding fron the District Council for providing that service. The District Council also provided funding for a year to the charity to assist it in continuing with the Time 2 Choose project as well as funding to assist with the running costs of the fitness factory gym. The March 2019 accounts include total grant aid of £60,221 from Derry City & Strabane District Council during the year in support of the charity's various activities.

BBC Children In Need

The financial statements for the year include £42,148 of grant aid income from BBC Children in Need in support of the wages costs of 3 staff. This funding runs until June 2019.

Rosemount Resource Centre Trust

The March 2019 accounts include a donation of £27,562 from the Rosemount Resource Centre Trust, which owns the premises the charity operates from.

Page 3

Rosemount & District Welfare Rights Group

Report of the management committee for the year ended 31 March 2019

Financial review

The financial statements for the year ended 31 March 2019 show total income of £301,751 and total expenditure of £288,794 resulting in a net surplus of £12,957. As at 31 March 2019 the balance sheet shows net funds of £8,546.

Fitness Factory

The March 2019 accounts include £18,763 of operating income generated by the fitness factory gym exclusive of any grant aid received from DfC, Derry City & Strabane District Council and other funders which assists in covering the operating costs of the gym.

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 2020 and are expected to be renewed again for the 2021 year. The financial assistance from the BBC Children in Need for the wages costs of 3 employees runs until June 2019. The charity has again reported a surplus for the year ended 31 March 2019. The management committee continue to try to generate new income streams and control costs. 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.

The premises from which the charity operates, which are owned by Rosemount Resource Centre trust, are to be demolished and new premises built. Funding of over £800k has been secured from both the DfC and DC & SD council for this project which commenced in March 2019. The new building is expected to be completed within a year.

Page 4

Rosemount & District Welfare Rights Group

Report of the management committee

for the year ended 31 March 2019

Statement of management committee responsibilities

The charity trustees (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 charity trustees (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 charity trustees (management committee) are required to:

The charity trustees (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 charity trustees (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

28 November 2019

Page 5

Rosemount & District Welfare Rights Group

Independent examiner's report to the charity trustees (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 2019 set out on pages 2 to 17.

Respective responsibilities of the management committee and independent examiner

As the charity's trustees (management committee) you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008.

It is my responsibility to:

Basis of independent examiner's statement

I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act.

My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as the charity's trustees (management committee) concerning any such matters.

My role is to state whether any material matters have come to my attention giving me cause to believe:

  1. That accounting recordswere not kept in accordance with section 63 of the Charities Act

  2. That the accounts do not accord with those accounting records

  3. That the accounts do not comply with the accounting requirements of the Charities Act

  4. That there is further information needed for a proper understanding of the accounts to be reached.

Independent examiner's statement

I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.

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

Shaun McGinty & Co Chartered Accountants Independent examiner 44 Woodbrook

Derry Northern Ireland BT48 8FF

Date: 28 November 2019

Page 6

Rosemount & District Welfare Rights Group

Statement of financial activities

For the year ended 31 March 2019

Unrestricted
Restricted
funds
funds
Notes
£
£
Income and endowments from
Income from generating funds:
Donations and legacies
2
27,862
240,207
Other trading activities
3
22,438
-
Other income
4
11,244
-
Total income
61,544
240,207
Expenditure on
Staff costs
5
19,713
141,572
Operating leases and hire costs
2,056
-
Establishment costs
6,234
34,176
Motor and travelling expenses
-
2,213
Accountancy fees
725
1,915
Legal and professional fees
1,158
-
Communications and IT
5
3,113
Other office expenses
2,793
933
Interest payable and similar charges
1,499
-
Depreciation and impairment
2,603
2,758
Projects and other direct costs
-
21,070
Project costs - Fitness factory
8,838
14,246
Project costs - Rebuild
-
20,424
Volunteer Expenses
750
-
Total expenditure
46,374
242,420
Net income/ (expenditure)
for the year
15,170
)
(2,213
Total funds brought forward
)
(8,774
4,363
Total funds carried forward
6,396
2,150		 2019 Unrestricted Restricted
Total
funds
funds
£
£
£
268,069
3,860
240,212
22,438
32,672
-
11,244
12,977
-
301,751
49,509
240,212
161,285
24,041
145,298
2,056
1,071
-
40,410
6,294
43,476
2,213
1,556
1,425
2,640
1,105
1,915
1,158
-
400
3,118
395
4,127
3,726
44
2,069
1,499
1,273
-
5,361
2,049
3,520
21,070
4,699
9,119
23,084
3,142
7,905
20,424
-
24,478
750
300
-
288,794
45,969
243,732
12,957
3,540
)
(3,520
)
(4,411
)
(12,314
7,883
8,546
)
(8,774
4,363		 2018
Total
£
244,072
32,672
12,977
289,721
169,339
1,071
49,770
2,982
3,020
400
4,522
2,113
1,273
5,569
13,818
11,047
24,478
300
289,702
19
)
(4,431
)
(4,412

The financial statements were approved by the management committee on 28 November 2019 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 7

Rosemount & District Welfare Rights Group

Balance sheet as at 31 March 2019

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
Net assets/(liabilities)
Funds
11
Restricted income funds
Unrestricted income funds
Total funds		 2019
£
£
20,626
28,122
7,260
35,382
)
(47,462
)
(12,080
8,546
2,150
6,396
8,546		 2018
£
£
25,442
17,560
15,114
32,674
)
(62,527
)
(29,853
)
(4,411
4,363
)
(8,774
)
(4,411

The financial statements were approved by the management committee on 28 November 2019 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 2019

Notes
Net income for the year
Interest payable
Depreciation and impairment
(Increase)/Decrease in debtors
(Decrease)/Increase in creditors
Net cash (outflow)/inflow from operating activities
Returns on investments and servicing of finance
19
Capital expenditure
19
(Decrease)/Increase in cash in the year
Reconciliation of net cash flow to movement in net debt
20
(Decrease)/Increase in cash in the year
Net debt at 1 April 2018
Net debt at 31 March 2019		 2019
£
12,958
1,499
5,361
)
(10,562
)
(18,327
)
(9,071
)
(1,499
)
(545
)
(11,115
)
(11,115
11,054
)
(61		 2018
£
19
1,273
5,569
22,602
12,946
42,409
)
(1,273
-
41,136
41,136
)
(30,083
11,053

Page 9

Rosemount & District Welfare Rights Group

Notes to financial statements for the year ended 31 March 2019

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 2019

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
27,862
-
DfC grants - core
-
85,566
DfC grants - fitness factory
-
30,848
DfC grant - building fees
-
20,424
DC & SD Council grants
-
50,722
DC & SD Council grants - Fitness Factory
-
9,499
EA (formerly WELB) grants receivable
-
-
BBC Children in need grants
-
42,148
Other grants receivable
-
1,000
IFICN - Time 2 Choose grants
-
-
NIHE wages grant - fitness factory
-
-
27,862
240,207		 2019 Unrestricted Restricted
Total
funds
funds
£
£
£
27,862
3,860
-
85,566
-
85,527
30,848
-
32,189
20,424
-
25,743
50,722
-
8,250
9,499
-
-
-
-
4,304
42,148
-
44,058
1,000
-
3,878
-
-
18,597
-
-
17,666
268,069
3,860
240,212		 2018
Total
£
3,860
85,527
32,189
25,743
8,250
-
4,304
44,058
3,878
18,597
17,666
244,072

3. Other trading activities

Unrestricted
funds
£
Fundraising events
3,675
Fitness factory income
18,763
22,438
Other income
Unrestricted
funds
£
Other income
6,964
Rental income
1,280
HMRC employment allowance
3,000
11,244		 2019 Unrestricted
Total
funds
£
£
3,675
10,058
18,763
22,614
22,438
22,438
2019
Unrestricted
Total
funds
£
£
6,964
8,057
1,280
1,920
3,000
3,000
11,244
12,977		 2018
Total
£
10,058
22,614
32,672
2018
Total
£
8,057
1,920
3,000
12,977

4. Other income

Page 11

Rosemount & District Welfare Rights Group

Notes to financial statements for the year ended 31 March 2019

5. Employees

Employment costs
Wages and salaries
Social security costs
Pension costs		 2019
£
149,999
10,315
970
161,284		 2018
£
158,270
10,433
636
169,339

No employee received emoluments of more than £60,000 (2018 : 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		 2019
Number

9
13
22		 2018
Number
11
13
24

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:

2019 2018
£ £
Pension charge 970 636

Page 12

Rosemount & District Welfare Rights Group

Notes to financial statements

for the year ended 31 March 2019

Long
Fixtures,
8.
Tangible fixed assets
leasehold fittings and
property
equipment
£
£
Cost
At 1 April 2018
23,525
92,252
Additions
-
545
At 31 March 2019
23,525
92,797
Depreciation
At 1 April 2018
9,802
80,533
Charge for the year
941
4,420
At 31 March 2019
10,743
84,953
Net book values
At 31 March 2019
12,782
7,844
At 31 March 2018
13,723
11,719
9.
Debtors
2019
£
Trade debtors and grants receivable
25,702
Other debtors
2,420
28,122
10.
Creditors: amounts falling due
within one year
2019
£
Bank overdraft
7,322
Trade creditors
20,936
Other taxes and social security
2,959
Other creditors
2,686
Accruals and deferred income
13,559
47,462		 Total
£
115,777
545
116,322
90,335
5,361
95,696
20,626
25,442
2018
£
13,712
3,848
17,560
2018
£
4,060
29,278
1,803
14,598
12,788
62,527

Page 13

Rosemount & District Welfare Rights Group

Notes to financial statements

for the year ended 31 March 2019

11. Analysis of net assets between funds
Unrestricted Restricted Total
funds funds funds
£ £ £
Fund balances at 31 March 2019 as represented by:
Tangible fixed assets 17,826 2,800 20,626
Current assets - 35,381 35,381
Current liabilities (11,430 )
(36,031		 ) (47,461 )
6,396 2,150 8,546
12. Unrestricted funds At At
1 April IncomeExpenditure 31 March
2018 2019
£ £ £ £
Unrestricted Funds (8,774 ) 61,544 )
(46,374		 6,396

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 2019

13. Restricted funds At At
1 April IncomeExpenditure 31 March
2018 2019
£ £ £ £
DfC funded costs 3,503 136,838 (138,970 ) 1,371
Derry City & Strabane District Council funded costs 641 60,221 (60,083 ) 779
Big Lottery Funds 86 - (86 ) -
International Fund For Ireland 8 - (8 ) -
BBC Children In Need - 42,148 (42,148 ) -
NIHE funding - 1,000 (1,000 ) -
Other Funders 125 - (125 ) -
4,363 240,207 (242,420 ) 2,150

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 March 2019 accounts include core funding grant aid of £85,566 from DfC together with the related matching expenditure. The accounts also include separate funding of £30,848 relating to revenue costs of the fitness factory project and a further £20,424 of funding to cover other professional fees relating to the rebuilding project. As at 31 March 2019 current assets include DfC grants owed of £11,021.

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 2019 accounts include £60,221 of grant aid from the district council together with the related matching expenditure. As at 31 March 2019 current assets include a grant balance owed of £14,681 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. This funding finished during the 2016 year.

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.

BBC Children in Need have provided grant aid funding to assist with covering the wages costs of three employees. The March 2019 accounts include £42,148 of grant aid recognised together with the related matching expenditure from the total funding of £42,879 that was received during the year. As at 31 March 2019 current liabilities include deferred income of £10,269 that will be recognised in the next accounting period as the related expentiture is incurred.

During the 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, this funding finished in 2018. The March 2019 accounts include income of £1,000 relating to funding from NIHE social enterprise programme 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 2019

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 2019 year.

16. Related party transactions

Donations during the March 2019 year include £ 27,562 from Rosemount Resource Centre trust, the trustees are Mr Thomas McCourt, Ms Elaine Power and Mr Sean Young. Mr McCourt is the manager and Ms Power is the development officer of the charity while Mr Young is a member of the management committee.

17. Controlling interest

The charity is controlled collectively by the management committee.

18. Post balance sheet events

The project to demolish the original premises and then build new premises commenced around March 2019 and it is hoped that the new building will be completed within a year. The new premises are expected to cost approximately £900K and are funded by DfC and DC & S district council.

19. Gross cash flows

Returns on investments and servicing of finance
Interest paid
Capital expenditure
Payments to acquire tangible assets		 2019
£
)
(1,499
)
(545		 2018
£
)
(1,273
-

20. Analysis of changes in net funds

Cash at bank and in hand
Overdrafts
Net funds		 Opening
balance
£
15,114
)
(4,060
11,054
11,054		 Cash
flows
£
)
(7,854
)
(3,262
)
(11,116
)
(11,116		 Closing
balance
£
7,260
)
(7,322
)
(62
)
(62

Page 16

Rosemount & District Welfare Rights Group

Notes to financial statements for the year ended 31 March 2019

21. Going concern

As has been stated in the Report of the Management Committee, 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 2020 and are expected to be renewed again for the 2021 year. The financial assistance from the BBC Children in Need for the wages costs of 3 employees runs until June 2019. The charity has again reported a surplus for the year ended 31 March 2019. The management committee continue to try to generate new income streams and control costs. 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.

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 2019

2019 2018
£ £ £ £
Income
Income from generating funds:
Donations and legacies
Donations 27,862 3,860
DfC grants - core 85,566 85,527
DfC grants - fitness factory 30,848 32,189
DfC grant - building fees 20,424 25,743
DC & SD Council grants 50,722 8,250
DC & SD Council grants - Fitness Factory 9,499 -
EA (formerly WELB) grants receivable - 4,304
BBC Children in need grants 42,148 44,058
Other grants receivable 1,000 3,878
IFICN - Time 2 Choose grants - 18,597
NIHE wages grant - fitness factory - 17,666
268,069 244,072
Other trading activities
Fundraising events 3,675 10,058
Fitness factory income 18,763 22,614
22,438 32,672
Total income from generating funds 290,507 276,744
Other income
Other income 6,964 8,057
Rental income 1,280 1,920
HMRC employment allowance 3,000 3,000
11,244 12,977
Total income 301,751 289,721

Page 19

Rosemount & District Welfare Rights Group

Detailed statement of financial activities

For the year ended 31 March 2019

Expenditure
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		 149,999
10,315
970
2,056
20,500
345
15,264
282
4,020
2,213
2,640
1,158
3,118
1,545
-
941
4,420
21,070
23,084
20,424
750		 219,786
65,328
285,114
285,114		 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

Page 20

Rosemount & District Welfare Rights Group

Detailed statement of financial activities

For the year ended 31 March 2019

2019 2019 2018 2018
£ £
Charitable activities
Miscellaneous office expenses 2,181 347
Interest & charges - Bank loans & overdraft 1,499 1,273
3,680 1,620
Total other costs 3,680 1,620
Net income/(expenditure) for the year 12,957 19

Page 21