## **THE FRIENDS OF ROWAN ASSOCIATION** **Registered Charity: 1058466** ## **FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED** **31 AUGUST 2022** THE FRIENDS OF ROWAN ASSOCIATION CONTENTS FOR THE YEAR ENDED 31 AUGUST 2022 _____________________________________________________________ ||Pages| |---|---| |Report of the Trustees|3 to 4| |Independent Examiner’s Report|5| |Statement of Financial Activities|6| |Balance Sheet|7| |Notes to the Accounts|8 to 14| THE FRIENDS OF ROWAN ASSOCIATION **REPORT OF THE TRUSTEES** FOR THE YEAR ENDED 31 AUGUST 2022 The Trustees present their annual report together with the financial statements of The Friends of Rowan Association (“the charity”) for the year ended 31 August 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 2 to the accounts. ## OBJECTIVES AND ACTIVITIES The object of the charity is to advance the education of the pupils at Rowan Preparatory School (“the school”, including Rowan Hill and Rowan Brae) by providing and assisting in the provision of facilities for education at the school and as ancillary thereto and in furtherance of this object the charity may: a. Foster more extended relationships between the staff and parents and others associated with the school; and b. Engage in activities, which support the school and advance the education of the pupils attending it. Events and activities organised during the year included fairs, social events, second-hand uniform sales, refreshments at the school’s sports days, auctions, pupils’ artwork sales, and Christmas card sales, involving pupils, parents, school staff, and the wider community. Funds from these activities were used to provide facilities at the school and also to support Princess Alice Hospice, the school’s chosen charity for part of the year, and charities offering aid to Ukraine’s humanitarian crisis. The Trustees are very grateful for the generous support of the parent volunteers who manage various aspects of the events and support the activities. The Trustees confirm that they have had due regard to the Charity Commission's guidance on public benefit when reviewing the charity’s aims and objectives and in planning activities and priorities for the period. ## ACHIEVEMENT AND PERFORMANCE The charity had a very successful year with a large number of events and activities following the easing of covid-19 restrictions which had meant limited activity was possible in the previous year. The charity generated income of £71,321 during the financial year compared to £8,788 the previous year. The costs incurred to perform these activities were £32,438 (2021 - £4,925) resulting in a net surplus of £38,883 (2021 - £3,863). This net surplus provided £16,318 (2021 - £3,375) of facilities for the benefit of the pupils at the school and donations to other charities of £2,393 (2021 - £250). The facilities provided at the school this year included initial payments of £4,323 for 16 Virtual Reality Headsets with educational content across the entire curriculum, and £8,500 for resurfacing the grass area in the Spinney with an allweather artificial grass surface to enable use of the area all year round. This is part of a co-funded project with the school to transform the Spinney, a wooded and grassed area at Rowan Hill that fuels imaginative play. Other facilities and experiences provided during the year for pupils included £1,440 for a Mobile Climbing Wall experience for Rowan Hill pupils and £355 for a Circus Skills workshop for Rowan Brae pupils during Wellbeing Week, £350 for a British Sign Language introductory session for all Rowan Hill pupils, £1,000 for new library books and £350 towards author visits. The charity also facilitated the purchase of 25 wish list items (£3,605) by parents for the school through a silent auction during the school’s 85[th] Anniversary Ball in November 2021. The wish list items were resources identified by staff members across each department within school to enhance pupils’ learning experiences and enjoyment at school. They included, amongst other items, an outdoor water pump station for Kindergarten, primary electrics kit for Science, BOSE speaker for the Sports department, Lego and robotics kits for Engineering, A2 wooden drawing boards for Art, and high definition visualizers for Key Stage 1. ## FINANCIAL REVIEW The charity had closing reserves of [£53,885] at 31 August 2022 (£33,713 at 31 August 2021). This included £12,822 of designated funds (2021 - £Nil) for the final payments for the Virtual Reality Headsets and the resurfacing of the Spinney grass area. The Trustees aim to hold sufficient funds to be able to organise the various fundraising events, which incur expenditure up-front. Page 3 THE FRIENDS OF ROWAN ASSOCIATION REPORT OFTHE TRUSTEES-CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022 STrUCTURE, GOVERNANCE AND MANAGEMENT Thè Friends of Rowan Assoclatlon is an unln¢orporat*d assotlatlon and a registered Charity (No. 10584661 whose constitution is ruled by the governing document adopttd on 7 February 1996 and as amended on 25 lune 2015 and 23 June 20161"Rul•llltl•s and ￿$L* of leport As the trustees ofthe charity. you are responsible for the preparation of the accounts in accordan¢e with the requirements of the Charrtles Act 20111.the AtVI. I report in respect of my examin3tlon ofthe charivs accounts carried out under section 145 of the Act and In carryin8 Out my examinatlon, I h￿e followed all the appllcable Dlrettknns gl¥en by the Charity Comm1s5ion under section 145lSllbl of thE Act. Independent eXamh￿S statement I have ttsmpleted my examination. I confirm that no matthal matters have come to my attention In connertlon w6th thè examination giving me cause to belleve that. in any Material respect: accountin8 records were not kept In respert of the charrty as requlred by sect.on of the Acl; or the accounts do not accord with the accountin8 records- or the accounts do not tomply with the applicable requirements concerning the form and content of accovnts set out In the Charities (Acc￿nts and Reports) Regtslations I1￿18 other than any requirement that the accounts glve 'tTue and fairview whlch Is not a matter considered as part of an independent examlnatlon. I have no CO￿ern5 and have corne across no other matters in connethon wrth the examlnation to which attention should be drawn in this report In orderto enable a woper understanding of the accounts to be reathed. Si8ned: James Brlmlow FCA 43 Imperial Bulldlng 2 Duke of Wellington Avenue London SE18 6FR 11 June 2023 Pay5 THE FRIENDS OF ROWAN ASSOCIATION ## **STATEMENT OF FINANCIAL ACTIVITIES** FOR THE YEAR ENDED 31 AUGUST 2022 |**INCOMING RESOURCES**
Income from:
Donations and legacies
Note 3
Other trading activities
Note 3
Investments – bank interest
Total
**RESOURCES EXPENDED**
Expenditure on:
Raising funds
Note 4
Charitable activities
Note 4
Total
**NET INCOME/(EXPENDITURE)**
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD|Unrestricted
funds
Restricted
income
funds
Total
funds
£
£
£
2,461
-
2,461
66,238
2,602
68,840
20
-
20
68,719
2,602
71,321
32,229
209
32,438
16,318
2,393
18,711
48,547
2,602
51,149
20,172
-
20,172
20,172
-
20,172
33,713
-
33,713
53,885
-
53,885|Prior year
total funds
£
1,518
7,269
1| |---|---|---| |||8,788| |||4,925
3,625| |||8,550| |||238| |||238
33,475| |||33,713| Page 6 THE FRIENDS OF ROWAN ASSOCIATION BALANCESHEET AT 31 AUGUST 2022 Total funds this year 31.08.2022 Total funds last year 31.08.2021 CURRENT ASSETS D•btors Note 7 275 2,128 Cash at bank and in hand 53,666 32,797 TOTAL CURRENT ASSErs 53,941 34,925 LIABILinE5 Creditors- Amounts falllng due within one year Note 8 56 1,212 NEf CURRENT ASSETS 53,885 33,713 TOTAL Nrr ASSETS 53,885 33,713 FUNDS OF THE CHARITY Unrestrlcted funds General funds 41,063 33,713 D•si8nattd funds Note 9 12,822 TOTAL FUNDS 53,885 33,713 Signed by two Trustees on behalf of èll Truste•s.' Signature Dateofapproval Iq Juni zozg Mfs Tjurd Chzirrnan Mrs A Lei8hton-Davi•s Treasurer 19 3ur&e 2023 PaBe 7 THE FRIENDS OF ROWAN ASSOCIATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022 ______________________________________________________________________________ ## **1. BASIS OF PREPARATION** These accounts and the previous accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and with the Charities Act 2011. ## **2. ACCOUNTING POLICIES** ## 2.1 INCOME ## **Recognition of income** Income is included in the Statement of Financial Activities (“SoFA”) when the charity becomes entitled to the resources; it is more likely than not that the trustees will receive the resources; and the monetary value can be measured with sufficient reliability. ## **Offsetting** There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS102 SORP. ## **Donations** Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP). ## **Income from interest, royalties and dividends** This is included in the accounts when receipt is probable and the amount receivable can be measured reliably. Bank interest is recognised on receipt into the charity’s bank account. ## **Income from membership subscriptions** Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies. Parents of pupils at the school are informed of the annual membership subscription amount and given the option to opt-out of membership each year. ## **Tax reclaims on donations and gifts** Gift Aid receivable is included in income when there is a valid declaration from the donor. The charity has no gift aid claim receivable in the current or prior period. ## **Voluntary help** The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report. ## 2.2 EXPENDITURE AND LIABILITIES Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings, they have been shown separately within each expense heading. ## **Liability recognition** Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. Page 8 THE FRIENDS OF ROWAN ASSOCIATION NOTES TO THE ACCOUNTS – CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022 ___________________________________________________________________________________________ ## **Governance and support costs** Where clearly identifiable, support and governance costs are allocated directly to each fundraising activity. Support and governance costs that are not directly related to an activity are not allocated but shown separately in Note 4. ## **Creditors and deferred income** The charity has creditors which are measured at settlement amounts less any trade discounts. No material item of deferred income has been included in the accounts. ## **Provisions for liabilities** A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date. ## 2.3 ASSETS ## **Fixed Assets** The charity has no tangible or intangible fixed assets, and no fixed asset investments. ## **Stocks and work-in-progress** Stocks held for sale as part of non-charitable trade are measured at the lower of cost or net realisable value. Goods or services provided as part of a charitable activity are measured at net realisable value based on the service potential provided by items of stock. Work in progress is valued at cost less any foreseeable loss that is likely to occur on the contract. ## **Debtors** Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received. ## **Current asset investments** The charity has cash on deposit with a maturity date of less than one year to meet short term cash commitments as they fall due. ## 2.4 FUND ACCOUNTING Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees. Suggestions for funding projects at the school may be made by the school, the Committee or any parent member by presenting their suggestion in writing to the Committee. On 25 June 2015, a Bylaw was adopted to require a Class Representative parent vote to approve proposals for funding facilities at school of more than £500. Designated funds are a subset of unrestricted funds which have been earmarked for planned future expenditure for the charity’s purposes but have not been paid as at the year-end date. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes as specifically identified in appeal literature. The charity did not have any restricted funds at the year-end (2021 – £Nil). ## **3. INCOME FROM:** |**Donations and legacies**(unrestricted funds):
Membership subscriptions
Commission payments - easyfundraising
-
AmazonSmile
-
Surrey Flower Bee (Christmas wreaths)|_Year to_
_31.08.22_
_£_
2,330
31
15
85
2,461|_Year to_
_31.08.21_
_£_
1,424
94
-
-
1,518| |---|---|---| Page 9 THE FRIENDS OF ROWAN ASSOCIATION NOTES TO THE ACCOUNTS – CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022 ___________________________________________________________________________________________ ## **3. INCOME FROM** (– continued): |**NCOME FROM**(– continued):||| |---|---|---| |**Other trading activities**
Secondhand uniform sales
Late Summer Fair (September 2021)
Rowan 85th Anniversary Ball (Parents)
-
Silent Auction donations
-
Live Auction
1930s Artwork - pupils’ canvases sales
Online Christmas Quiz, Stories and Crafts
Christmas Art Cards
Christmas Fair
Valentine’s Discos
Curry & Quiz Night (Parents)
-
Live Auction
Online Art Auction - class canvases
Summer Fair (June 2022)
Sports Days Refreshments|_Year to_
_Unrestricted_
_Restricted_
_31.08.22_
_funds_
_£_
_income funds_
_£_
_Total_
_£_
6,750
6,750
9,381
9,381
19,339
19,339
1,715
1,715
1,601
1,601
2,054
2,054
-
-
408
400
808
7,022
7,022
3,092
3,092
3,015
-
118
1,000
3,133
1,000
1,083
1,084
2,167
8,748
8,748
2,030
2,030
66,238
2,602
68,840|_Year to_
_31.08.21_
_Total_
_£_
1,559
-
-
-
-
-
3,253
674
-
-
-
-
-
1,783| |||7,269| ## **4. EXPENDITURE ON:** |_Year to_
_Unrestricted_
_Restricted_
_31.08.22_
**Raising Funds**
_Funds_
_£_
_income funds_
_£_
_Total_
_£_
Secondhand uniform sales
1,173
1,173
Late Summer Fair (September 2021)
3,740
3,740
Rowan 85th Anniversary Ball (Parents)
16,332
16,332
-
Silent Auction winning bid donations
-
-
-
Live Auction
289
289
1930s Artwork - pupils’ canvases sales
222
222
Online Christmas Quiz, Stories and Crafts
-
-
Christmas Art Cards
-
-
-
Christmas Fair
2,724
2,724
Online Valentine Disco/Halloween Party
-
-
Valentine’s Discos
1,121
1,121
Curry & Quiz Night (Parents)
-
Live Auction
1,783
-
-
1,783
-
Online Art Auction - class canvases
208
209
417
Summer Fair (June 2022)
3,441
3,441
Sports Days Refreshments
998
998
General fundraising and governance costs unallocated:
Parentkind (UK PTA) membership inc. insurance
116
116
Worldpay annual fee
52
52
One.com annual subscription
-
-
Postage, printing etc.
-
-
Thank you gifts to teachers
30
30
Cancelled 2020 Summer Fair – Refund of stall fee -
-
Non-refundable deposit for inflatables -
-
-
32,229
209
32,438|_Year to_
_31.08.21_
_Total_
_£_
1,269
-
-
-
-
-
1,557
-
-
200
-
-
-
-
-
401
111
36
99
25
577
50
600| |---|---| ||4,925| Page 10 ## THE FRIENDS OF ROWAN ASSOCIATION NOTES TO THE ACCOUNTS – CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022 ___________________________________________________________________________________________ ## **4. EXPENDITURE ON** (– continued): |**Charitable activities**
_Unrestricted funds:_
Rowan Preparatory School
Mobile Climbing Wall experience (Rowan Hill)
Circus Skills Workshop (Rowan Brae)
British Sign Language session (Rowan Hill)
Library Books
Author Visits
VR Headsets (first instalment)
Spinney resurfacing artificial grass (first instalment)
Willow Weaving Workshops
_Restricted income funds:_
Battersea Dogs & Cats Home
Disasters Emergency Committee (“DEC”) – Ukraine Humanitarian Appeal
British Red Cross – Ukraine Crisis Appeal
Princess Alice Hospice
Total expenditure on charitable activities|_Year to_
_31.08.22_
_£_
1,440
355
350
1,000
350
4,323
8,500
-
16,318
-
1,000
438
955
2,393
18,711|_Year to_
_31.08.21_
_£_
-
-
-
-
-
-
-
3,375
3,375
250
-
-
-
250
3,625| |---|---|---| The facilities provided at the school this year included 16 Virtual Reality Headsets with educational content across the entire curriculum to provide immersive learning experiences for pupils and to build discussion, collaboration and creative skills. In addition, the grass area of the Spinney was resurfaced during Summer 2022 with an all-weather artificial grass surface to enable use of the area all year round. This was a co-funded project with the school. The Spinney is a wooded and grassed area at Rowan Hill which is widely acknowledged as the pupils’ favourite place to play and enhances their wellbeing and imaginative and collaborative play. The winter weather had previously made the grass area muddy and unusable for most of October to March. The resurfaced area can now be used throughout the year to develop the girls’ social and imaginative play through games, lessons and free play. The other approved funding projects in the period included a Mobile Climbing Wall experience for Rowan Hill pupils and a Circus Skills workshop for Rowan Brae pupils during Wellbeing Week, together with a British Sign Language introductory session for all Rowan Hill pupils, additional resources for the libraries at Rowan Brae and Rowan Hill, and a contribution towards author visits to the school. In the prior year, £3,375 was provided to the school for Willow Weaving Workshops for all pupils from Preschool to Year 6. The workshops led to the creation of a long-term sculpture garden and living tree dome in recognition of the school’s 85[th] anniversary. During the current period, the charity also organised a number of fundraising activities from which the monies raised were shared with other charities in a set proportion, as specified at the outset in the communications for each fundraising activity (Note 9). These included a Live Auction of special Rowan prizes during the Parents’ Curry & Quiz Night in March 2022, where the prizes ranged from a pupil being Headmistress for the day to a parent having a reserved parking space at Rowan Brae for a week. All the monies raised (£1,000) from the Live Auction were donated to the Disasters Emergency Committee’s Ukraine Humanitarian Appeal. The donation amounts made in the period to other charities are shown above. Page 11 THE FRIENDS OF ROWAN ASSOCIATION NOTES TO THE ACCOUNTS - CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022 ## **5. SURPLUS ON FUNDRAISING ACTIVITIES** |_Unrestricted_
_Restricted_
_Funds_
_£_
_income funds_
_£_
Secondhand uniform sales
5,577
Late Summer Fair (September 2021)
5,641
Rowan 85th Anniversary Ball (Parents)
3,007
-
Silent Auction winning bid donations
1,715
-
Live Auction
1,312
1930s Artwork - pupils’ canvases sales
1,832
Online Christmas Quiz, Stories and Crafts
Christmas Art Cards
408
400
Christmas Fair
4,298
Online Valentine Disco/Halloween Party
Valentine’s Discos
1,971
Curry & Quiz Night (Parents)
-
Live Auction
1,232
118
1,000
Online Art Auction - class canvases
875
875
Summer Fair (June 2022)
5,307
Sports Days Refreshments
1,032
General fundraising and governance costs unallocated (198)

34,009
2,393|_Unrestricted_
_Restricted_
_Funds_
_£_
_income funds_
_£_
Secondhand uniform sales
5,577
Late Summer Fair (September 2021)
5,641
Rowan 85th Anniversary Ball (Parents)
3,007
-
Silent Auction winning bid donations
1,715
-
Live Auction
1,312
1930s Artwork - pupils’ canvases sales
1,832
Online Christmas Quiz, Stories and Crafts
Christmas Art Cards
408
400
Christmas Fair
4,298
Online Valentine Disco/Halloween Party
Valentine’s Discos
1,971
Curry & Quiz Night (Parents)
-
Live Auction
1,232
118
1,000
Online Art Auction - class canvases
875
875
Summer Fair (June 2022)
5,307
Sports Days Refreshments
1,032
General fundraising and governance costs unallocated (198)

34,009
2,393|_Year to_
_Year to_
_31.08.22_
_31.08.21_
_Total_
_£_
_Total_
_£_
5,577
290
5,641
-
3,007
-
1,715
-
1,312
-
1,832
-
-
1,696
808
674
4,298
-
-
(200)
1,971
-
1,350
1,000
-
-
1,750
-
5,307
-
1,032
1,382
(198)
(1,498)
36,402
2,344| |---|---|---| ||34,009
2,393|| During the period, changes were made to the second-hand uniform arrangements. With effect from 4 March 2022, the charity ceased working with online platform Uniformis and brought the stock of second-hand uniform back inhouse. The charity now runs one second-hand uniform sale per term onsite at the school. All proceeds from the sales of donated second-hand uniform go to The Friends of Rowan Association and commission is no longer payable to parents. The only exception to this is the sale of blazers, which are high-value items, where 50% commission is paid to parents donating a blazer. Parents continue to have access to Uniformis for direct sales to each other. ## **6.** ## **FUNDS RECEIVED AS AGENT** |_Name of party_
_Related_
_party_
Rowan
Preparatory
School
Yes|_Amount received_
_This year_
_Last year_
_£_
_£_
3,605
0
3,605
0|_Amount paid out_
_This year_
_Last year_
_£_
_£_
3,605
0
3,605
0|_Balance held at_
_period end_
_2022_
_2021_
_£_
_£_
0
0
0
0| |---|---|---|---| The charity hosted a silent auction during the school’s 85[th] Anniversary Ball in which parents could bid to purchase 25 “wish list” resources for school. The wish list items were identified by staff members across each department within the school to enhance pupils’ learning experiences and enjoyment. The charity collected the winning bids from parents and reimbursed the school for the cost of the wish list items (£3,605). This amount is not recognised in the SoFA as the charity was acting as an agent. Where a winning bid exceeded the value of a wish list item, the excess donation is recognised in the charity’s SoFA (total £1,715). Page 12 THE FRIENDS OF ROWAN ASSOCIATION NOTES TO THE ACCOUNTS - CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022 ____________________________________________________________________________________________________ |**7.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Prepayments
Other debtors
**8.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Second-hand uniform parent commission
Other accruals
Deferred income
_Movement in deferred income account:_
Balance at start of reporting period
Amounts added in current period
Amounts released to income from previous period
Balance at end of reporting period|_2022_
_£_
275
-
275
_2022_
_£_
14
42
-
56
_2022_
_£_
85
-
(85)
-|_2021_
_£_
500
1,628
2,128
_2021_
_£_
877
250
85
1,212
_2021_
_£_
-
85
-
85| |---|---|---| Deferred income in the previous period related to early payments by three external stall holders to attend the Late Summer Fair in September 2021. ## **9. CHARITY FUNDS** The restricted income funds in the period represented monies which the charity stipulated would be paid to other charities from particular fundraising activities. The proportion to be paid to each charity was specifically identified at the outset in communications for each fundraising activity. |_Fund name_
_Restrictions:_
_Amounts stipulated to be paid_
**_Restricted income funds_**
Princess Alice Hospice (1)
Half of the commission from
Cauliflower Cards Christmas
card sales
DEC – Ukraine
Humanitarian Appeal
All funds raised from Live
Auction of Rowan prizes at
Curry & Quiz Night
Princess Alice Hospice (2)
65% of funds raised from
Rowan 100 Grid activity at Curry
& Quiz Night (inc. winner’s
donation)
British Red Cross –
Ukraine Crisis Appeal
25% of net amount (after costs)
from Online Art Auction
Princess Alice Hospice (3)
25% of net amount (after costs)
from Online Art Auction
_Other funds_
Unrestricted|_Fund_
_balances_
_brought_
_forward_
_£_
0
0
0
0
0
0
33,713
33,713|_Income_
_£_
400
1,000
118
542
542
2,602
68,719
71,321|_Expenditure_
_£_
(400)
(1,000)
(118)
(542)
(542)
(2,602)
(48,547)
(51,149)|_Fund_
_balances_
_carried_
_forward_
_£_
0
0
0
0
0| |---|---|---|---|---| |||||0
53,885
53,885| Page 13 THE FRIENDS OF ROWAN ASSOCIATION NOTES TO THE ACCOUNTS - CONTINUED FOR THE YEAR ENDED 31 AUGUST 2022 ____________________________________________________________________________________________________ ## **9. CHARITY FUNDS** (- continued): |**UNRESTRICTED FUNDS**
Designated funds:
Final instalment for Spinney resurfacing artificial grass
Final instalment for 16 Virtual Reality Headsets
General funds
Total funds at end of reporting period|_2022_
_£_
8,500
4,322
41,063
53,885|_2021_
_£_
-
-
33,713
33,713| |---|---|---| The charity did not have any material restricted income funds during the prior period and had no restricted funds at the current year-end. ## **10. TRANSACTIONS WITH TRUSTEES AND RELATED PARTIES** ## 10.1 TRUSTEES’ RENUMERATION AND BENEFITS The Trustees all give their time freely without being paid any form of remuneration or receiving any other benefits from an employment with the charity or a related entity (2021 - £Nil). ## 10.2 TRUSTEES’ EXPENSES Expenses paid to the Trustees in the period amounted to £6,536 (2021 - £1,895). These expenses were made up of 3 Trustees reimbursed for purchases made on behalf of the charity for fundraising activities. There were also expenses of £1,986 (2021 - £Nil) paid to a non-trustee Committee member for the same purpose. Expenses are reimbursed for actual costs on presentation of valid receipts and other documentation. No other types of trustee expenses have been incurred. ## 10.3 TRANSACTIONS WITH RELATED PARTIES During the period, the charity reimbursed Rowan Preparatory School £222 for the purchase of A5 canvases for all pupils (2021 - £Nil). In celebration of the school’s 85[th] anniversary, the pupils each painted a canvas with artwork inspired by the 1930s golden age of art from when the school was established. The artwork was on display at the anniversary ball for parents to purchase. The charity also transferred £3,605 of payments from parents to the school for the wish list items purchased by winning bidders in the silent auction during the 85[th] anniversary ball (Note 6). The school administers the collection of the charity’s membership subscriptions from school parents £2,330 (2021£1,424) and transfers the total amount to the charity annually. ## **11. EVENTS AFTER THE END OF THE REPORTING PERIOD** Mrs Sarah Raja was appointed Headmistress of Rowan Preparatory School on 1 January 2023 following Mrs Susan Clarke’s departure on 31 December 2022. Under the charity’s Rules, the Headmistress is a Trustee of the charity ex-officio. Page 14