CHARITY REGISTRATION NUMBER: 1079165 The Friends of the Rose Bowl Unaudited Financial Statements 5 April 2024 INDEPENDENT AUDITORS LLP Chartered Accountsnts Emstrey House Noth Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG
The Frfends ofthe Rose Bowl Financial Ststements Year ended 5 Aprll 2024 Trustees. annual report Independent examinerfs rewl to the Irustees ststement of finan(xal activities Statement of finanaal posltlon Notes to the finandal statements
The Friends of the Rose Bowl Trustees. Annual Report Year ended 5 April 2024 The trustees present their report and the unaudited financial statements of the charity for the year ended 5 April 2024. Reference and admfjnl$trAtfve detalls Reglstered charity name The Friends of the Rose Bowl Charlty regtstradon number 1079165 Prlnclpal offle¢ 21 Norlholmv Road London N5 2UZ The trust¢¢s O J Baker D Brindle G Geddes P ODonn¢ll S Caloni T Warren M MaTino8 O Ayad (Appoin*d 2 May 2023) (Appointed 2 Mpdy 2023) Indepondant •xamlner Jonathon Dale FCA Independent Audttors LLP Chartered Accountants Emstrey House North Shrewsbury Business Park sIsbUry Shropshire SY2 6LG
The Frlends of the Rose Bowl Independent Examlnerfs Report to the Trustees of The Frlends of the Rose Bowl Year ended 5 Aprll 2024 I report to the ttustees on my examination of the financial statements of The Friends of the Rose Bowl ('the charity,) for th¢ y¢ar ended 5 April 2024. Responslbllltles and basis of report As the trust¢es of the charity you are responsible for the prepardtion of the flliancial stat¢ments in accordanrK with the requirements of the Charities Act 2011 ('the Act.). I report in resped of rny examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the ACL Independent examlner's statement I have Mple1ed my examination. I confimi thal no material malters have come to my attention in connection with the examination giving me cause to believe that in any matrrial respect: accounting records were not kept in K8pect of the charity as required by section 130 of the ACL. or the financial sta*ments do not accord with those records. or th¢ financial statements do not comply with the applicable requirements conceming the forni and content of accounts set out in the Charities (AccouDts and Reports) Regulations 21)08 other than any requir¢m¢ni that th¢ accounts give a 'true and fail view which is not a matter considered as part of an independent examinaiion. I have no concerns and have come across no other matters in conneclion with the examination to whi¢h attention should be thawn in this report in order to enable a proper understanding of the accoullts to be reached. Jonathon Dale fcA Independent Auditors LLP Chartered Accountants Emstrey House North Shrewsbury Business Park Shrcwsbury Shropshire SY2 6LG I G DGccM8ER 202
The Friends of the Rose Bowl ststement of Flnancial Activities Year ended 5 Aprll 2024 2024 Unrestricted funds Total funds 2023 Total funds Nota Ineome and endowments Voluntsry income Other trading activities Investment incom¢ 71,426 23,610 972 71,426 23,610 972 58.572 19,762 276 Totsl Income 96,008 96,008 78,610 Expendltsre Expenditure on raising funds: Costs of generating voluntary income ExndItUre on cliarltdble activities Totsl expendlture 11,445 67295 11,445 67.295 8,311 64,785 78,740 78,740 73,096 Net In¢ome and Det movement In funds 17,268 17,268 5.514 Reeonclllatlon of thndi Total funds brought forward Totsl funds ¢Arrled forward 117,037 134,305 117,037 111,523 134,305 117,037 The Ststement of fUnCIal activities includes all gains aftd losses recognised in the yur. All income and expenditure derive from continuing activities. The notss on pagos 5 to 11 form part of th880 financial statements.
The Friends of the Rose Bowl Statsment of Financial Position 5 Aprll 2024 23 Current asjets 15 10393 140.632 151.625 8.123 110250 118JT3 C&sh at bank and inhand CredltorB: amounts falliDg due within one year 16 17J20 lJ36 Nd eun*Trt assets 134.305 134J05 ll345 117.037 Totsl asgds le89 eurrent hbllitie8 117.037. 117.037 Net a88 Funds of the charity 134305 134.305 117.037 117.037 Totsl ¢barity fond8 and azv signed (m bebalf of the Ix)exd by: OJBa Trnstee Tho notss on pages 5 to 11 forni part of the flnanclal statements.
The Friends of the Rose Bowl Notes to the Financlal Statements Year ended 5 Aprll 2024 Ceneral fnfomatlon The clwity is a public benefit entity and a regist¢r¢d charity in England and Wales and is uninL[p0raItd, Thc address of the prinLipal office is 21 Northolrne Road, London, N5 2UZ. Statement of tomplianee These fInCIal slatemcnls have been prcpared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Iland,, the Slalement of Recommended Prnclice applicable to charities prep8ring their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) aod the Charitics Act 2011. Aeeounthig polleles Basts of preparatlon The fmancial statements have been prepared on the historical cost basi$, 0$ modified by the revaluation of ¢cnain financial assets and liabilities and invcskncnt properties measur¢d at fair value through incomc or cxpcnditurc. The financial slatements are presented in sterling which is the nCtIOnal currency of the company and rounded to the nearest £. Fundi alloeadon Any restrict¢d funds are those donated for Specific purposes for the general benefit of the charity's beneficiaries and are included with the unrestricted fvnds. The designated fund differs only to the ¢xi¢nt that monies are held for specific recipienis. Colng eoneern There are no material uncertainties about the ¢harity's ability to continue. Deslgnated funds The trustees consider it pnKlent to fund cover for our contribution to th¢ futu runnin¥ ¢osts of the Rose Bowl Centre of £60,000. Judgements and key source5 of e5dmatlon un¢trtalnty The preparation of the financial ststements requires management to make judgements. eslimales and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and oih¢r factors, including cxpectation5 of future events that are believed to be reasonable under the circurnstances.
The Friends of the Rose Bowl Notss to the Financlal Statements (conthiu Year ended 5 Aprll 2024 AccouDtlng pollcles (coxthi#edJ Fund aeeountlng Unrestricted funds are available for use at the discretion of the trust¢es to furtl)¢r any of the charity's Desiated fu are unresthcted fitnds Camued by the truskes for particular future project or commitmenL Restricted fimds are subjectoj to restrictions on theirexpenditure declared by the donor or through the tern of an appeal, and fall into one of two su&¢lasses: trIcted income fiumas or a)dowmenl futkds. Incomlng resource5 All incominB sOUrceS a included in the Ststeml of financial activities when entitlement has passed to tILe cEwity: it is probable that the economic benefits &8sociated with the transaction will flow to the charity and the amount can be reliably measured. The following spccific policies are applied to particular categories of income: income from donations or 8fdnts is recognised when there is evidence of entitlement to the gitl receipt is probable and its amount w be trured reliably. legacy income is Tecognised when Teccipt 15 probable and entitlement is establi$h¢d. in¢ome from donated goo(ts is Measu at the fair value of the g)dS unle&8 this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donared facilities aod services are re¢ognised in the a¢counts when received if the value can bc reliably measure(L No amounts are included for the contribution of general volunteers. income from ¢ontracrs for the supply of services is recognised with the delivery of the contracted service. This is c]a&sified as unrestricied fillth unless there is a contractual requirement for it to be spent on a particular pu4Jose and returned if unspenL in whicb case it may be regarded as restricted.
The Friends of the Rose Bowl Notes to the Flnanclal Statements fGonllnuvdJ Year ended 5 Aprll 2024 Accounthig pollclo Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure inrludes any VAT which cannot be fvIIy T0v¢r¢d, and is Classifi under headings of the statement of financial activities to which it relates: expenditure on raising funds includes the costs of all ndraISing activities, events, non-charithble trading activities, and the sale of donated 8oods. ¢xpenditure on charitsble activities includes all costs incurred by a chority in undertakin8 activitics that fiirthcr its charitsblc aims for thc bcncfit of its bcncficiarics, including tho support costs and ¢osts relating to the govemance of the charity apportioned to charitable a¢tivitie8. other expcnditure includes all expenditurc that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated * expenditure categories flectIng the use of the SOUrce. Dir¢¢t ¢osts attributabl¢ to a single actlvlty are allocated dircctly to that activity. Shared costs are apportioned betwccn thc activitics they ¢ontribu* to on a rca8onabl¢p justifiablc and consistcnt basis.
The Friends of the Rose Bowl Notes to the Flnanclal Ststements (Gonthiu8d) Year ended 5 Aprll 2024 Accountlng policles (e•hthi¥¢dJ Flnan¢lal Instruments The company electd io apply the provisions of Section I I 'Basic Financial InstnmKnts' and Section 12 Dther Financial Instrumentslssues, of FRSI 02 to all of its financial instruments. Financial instrutnents are recognised in the company's balance sheet when the company becomes a party to the eonir8Ctual provisions of the instrumenl. Financxal assets and liabilities are offseL with the net amounts presented in the financial statements, when there is a legally enforceable right to sel off Ihe Tecognised amounts and there is intention to settle on a net basis or to realise the asg¢t and settle the liability simultaneously. Basic financial assets, whi¢h in¢lude debtors and c4sh and bank balances. are initially measured at transaction price including transaction costs and are subsequently carried at amort15ed cost Using thc effective interest method unless the arTan8ement constitutes a financing transaction, which ihe transaction is measured at the present value of the fuwre receipts discounted at market rate of interest. Financial assets classified as receivable within on¢ year are not amortised. Finoncial liabilities and equity instNmenls are classified accordtng to the substance of the contractual arrnng¢ment entered into. An equiry instnm)ent is any eontra¢t that ¢viden¢es a r¢$idual interest in the assets of the Company after deducting all of its liabilities. Basic financial liabilities. includtng creditors. bank loans, loans from fellow group companies and preference shares that are Classified Bs debk are initially recognised at transaction price unless the arrangement Constitutes a financing transaclion, where the debt instrument is rneasured al the present value of ihe fijture payments dis¢ounled ac a market rate of interest. Financial liabilities ¢la5sified 09 payable wiihin one year are not amorlised. Debt in8ttuments off 8ubsequ¢ntly ¢affied al amortised ¢OSL using the effective interest rate method. Trade Creditors are obligations to pay for goods or serrfices that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as ¢urr¢nt liabilities if payments is due within one year or less. If not. they are presented as non-current liabilities. Trade creditors are recognised inilially at irAnsaction price and subsequently measured at amortised Cost Usin the etYe¢tiv¢ interest method. Voluntary Ineome Unrestricted Total Funds Unrestricte41 Total Funds Fund$ 2024 Funds 2023 Donatlons Donations including gift aid Donations relating to auction 32,581 38,845 32,581 38,845 30,432 28,140 30.432 28,140 71,426 71,426 58,572 58,572
The Friends of the Rose Bowl Notes to the Flnancial Statements f¢onitinusOJ Year ended S Aprll 2024 Other dIll8 aetlvfities Unrestri¢i¢d Tothl Funds Unrestricted Total Funds Funds 2024 Fund¥ 2023 Auction 23,610 23,610 19,762 19,762 Inveslment Income Unrestrictcd Total Funds Unrcstrictcd Totsl Funds Funds 2024 Funds 2023 Bank interest receivable 972 972 276 276 Costs of generatlng voluntary Ineome Unrestricted Totsl Fundj Unreslricted Total Funds Fund$ 2024 Funds 2023 Costs of raising donations and Ic8acics- Sponsorship Auction event costs 216 11,229 216 11.229 360 7,951 8,311 360 7.951 11.445 11.445 8,311 Expendlture on ehArltable a¢llvltl¢s by fund typ¢ Unrestricted Funds Restricted Total Funds Funds 2024 Provision of costs for running of thc Rose Bowl Centre Support costs 65,290 2.005 65,290 2,005 67.295 67,295 Unrestricted Funds Restricted Total Funds Fund 2023 Provision of Costs ftlr nUJDin8 of the Rose Bowl Centr¢ Support costs 58.276 1,509 5,000 63,276 1.509 59,785 s,000 64,785
The Friends of the Rose Bowl Notes to the Flnancial Ststsments fwil Year ended 5 April 2024 Expendlthre on eharltable acdvltles by actfvlty type Activities undertaken Grant funding directly of aciivities Support Costs Total funds 2024 Total fund 2023 Provision of costs for running of the Rose Bowl Centre Governance costs 15,290 65,290 2.005 63.276 1.509 2.005 50.01 15,290 2,005 67,295 64,785 10. Covern2nee eosts Governance ¢osts Total 2024 Totsj 2023 Professional fees Accountsncy fee5 Bank charges 216 216 704 805 624 624 2,004 1,509 11. Anatysls of grants 2024 2023 Grants to ln5111utlons Iseldon Arts CIC 15290 13,276 Total grants 15.290 13,276 12. Independent examlnatlon fees 2024 2023 Fees payable to tbe independent examiner for. Independent examination of the financial statements 1,164 704 13. Staff costs The average head count of employees during the year was Nil (2023: Nil). No employee received employee benefits of more than £60,000 durin8 the ycar (2023: Nil). 14. Trustee remuneratlon and expeDses No remunerdtion or other benefits from employment with the eharity or a relatrd entity were received by the trustees. 10
The Frlends of the Rose Bowl Notes to the Flnancial Statements (¢onthu Year ended 5 Aprll 2024 15. Debtors 2024 2023 Other debtors 10,993 8,123 16. Credltors: amounts faulng due wlthln one year 2024 2023 Trade creditors Accruals ond deferred income 2.500 14,820 1.336 17,320 1.336 17. Deferred Income 2024 2023 Amount deferred in year 14,820 18. Anaty8ts of ¢harltable fund8 Unrestrl¢ted funds At 6 April 2023 At Income Expenditure S Aprll 2024 Unresiricied Fund Designated Fund 57,037 60,000 96,008 (78,740) 74,305 60.000 134,305 117,037 96,008 (78,740) A¢ 6 April 2022 At Income Expenditure 5 April 2023 Unrestricted Fund Designated Fund 46,523 60,000 106,523 78.610 (68.096) 57.037 60,000 117,037 78,610 (68,096) 19. Analy818 of nel assets between funds Unrestricted Totsl Funds Funds 2024 134.305 134,305 Unr¢stri¢*d Total Funds Funds 2023 Current assets 117,037 117,037 11