CHARITY REGISTRATION NUMBER: 1079165
7
The Friends of the Rose Bowl Unaudited Financial Statements
5 April 2025
INDEPENDENT AUDITORS LLP Chartered Accountants Emstrey House North Shrewsbury Business Park ‘Shrewsbury Shropshire SY2 6LG
The Friends of the Rose Bowl
Financial Statements
Year ended 5 April 2025
| Page | |
|---|---|
| Trustees’ annual report | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement offinancial activities | 4 |
| Statement offinancial position | 5 |
| Notestothefinancialstatements | 6 |
Page 1
The Friends of the Rose Bowl
Trustees’ Annual Report
Year ended 5 April 2025
The trustees present their report and the unaudited financial statements of the charity for the year ended 5 April 2025.
Reference and administrative details
Registered charity name The Friends of the Rose Bowl Charity registration number 1079165 Principal office 6 Alwyne Road London N1 2HH
The trustees
O J Baker (Resigned 2 December 2025) D Brindle G Geddes P O'Donnell S Caloni T Warren M Marinos O Ayad M Alivizatou (Appointed 11 September 2024) L Nyavie (Appointed 3 December 2024) Independent examiner _ Jonathon Dale FCA Independent Auditors LLP Chartered Accountants Emstrey House North Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG
Structure, governance and management
The organisation is a registered charity registered with the Charity Commission, charity number 1079165. The organisation was registered as a charity on 29th January 2000 and is governed by its trust document dated 3rd November 1999.
The charity is governed by the trustees who collectively manage the risks faced by the organisation.
Objectives and activities
To support The Rose Bowl Youth Club, New River Estate, Islington N1 or, otherwise, the youth of Islington to advance education and to provide facilities in the interest of social welfare for recreation and leisure. The aim is to raise funds for better facilities, more sessions and activities to address the needs of the participants and to provide greater development opportunities. These include residential trips and excursions, a Music Industry Awareness program, and an additional youth worker whose focus is getting young people experiencing Emotionally Based School Avoidance (EBSA) back into school.
Page 2
The Friends of the Rose Bowl
Trustees’ Annual Report (continueg)
Year ended 5 April 2025
Achievements and performance
The Friends of the Rose Bowl has continued to support the increasing demand for services offered by the Rose Bowl youth centre. This has been achieved by funding the expanded range of activities and programs offered by the Rose Bowl and improving and diversifying the sources of funding through donations and grants received from the Islington community. It is pleasing to note that the fund raising performance continues to improve against the background of more difficult economic conditions.
Financial review
The charity made a surplus for the year ended 5 April 2025 amounting to £13,357. The trustees are satisfied with the performance of the charity.
Reserves policy
Designated funds are unrestricted funds that have been ringfenced by the Board of Trustees, for a specific use or purpose. The Trustees consider it prudent to allocate funds for our contribution to the future running costs of the Rose Bowl Centre of £87,439. This amount was calculated based on board-approved grants and expenditures authorised at a board meeting during the year, for payment in the year ending 5 April 2026. The trustees! annual report was approved on Aa/2e2b, and signed on behalf of the board of trustees by:
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lalon’
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S Gdloni T Warren Trustee Trustee
Page 3
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:
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The Friends of the Rose Bowl
Independent Examiner's Report to the Trustees of The Friends of the Rose Bowl
Year ended 5 April 2025
I report to the trustees on my examination of the financial statements of The Friends of the Rose Bowl (‘the charity’) for the year ended 5 April 2025.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Jonathon Dale FCA Independent Auditors LLP Chartered Accountants
Emstrey House North Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG 3, FEB RUARY 2026
Page 4
The Friends of the Rose Bowl
Statement of Financial Activities
Year ended 5 April 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Totalfunds | Total funds | ||
| Note | s | £ | a | £ | |
| Income and endowments | |||||
| Voluntary income | 4 | 60,590 | 23,021 | 83,611 | 71,426 |
| Othertrading activities | 5 | 16,763 | - | 16,763 | 23,610 |
| Investment income | 6 | 1,083 | - | 1,083 | 972 |
| Total income | 78,436 | 23,021 | 101,457 | 96,008 | |
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs ofgenerating voluntary | |||||
| income | 7 | 11,776 | a | 11,776 | 11,445 |
| Expenditure on charitable activities | 8,9 | 64,602 | i722 | 76,324 | 67,295 |
| Total expenditure | 76,378 | 11,722 | 88,100 | 78,740 | |
| : | |||||
| Net income and netmovement in | funds | 2,058 | 11,299 | 13357 | 17,268 |
| Reconciliation offunds | |||||
| Total funds brought forward | 134,305 | - | 134,305 | 117,037 | |
| Totalfundscarriedforward | 136,363 | 11,299 | 147,662 | 134,305 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages6 to 13 form part of these financial statements.
Page 5
The Friends of the Rose Bowl
Statement of Financial Position
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||||||
|---|---|---|---|---|
|5|April|2025|
|2025|2024|
|Note|£|£|as|£|
|Current|assets|
|Debtors|15|11,392|10,993|
|Cash|at bank and in hand|159,307|140,632|
|170,699|151,625|
|Creditors:|amounts|falling|due within|
|one year|16|23,037|17,320|
|Net current assets|147,662|134,305|
|Total|assets|less current liabilities|147,662|134,305|
|Net assets|147,662|134,305|
|Funds|of the|charity|
|Restricted|funds|11,299|=|
|Unrestricted funds|136,363|134,305|
|Total charity funds|18|147,662|134,305|
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These financial statements were approved by the board of trustees and authorised for issue on a/A2). 2 24, and are signed on behalf of the board by: Calon’ | T Warren S Caloni Trustee Trustee
The notes on pages6 to 13 form part of these financial statements.
Page 6
The Friends of the Rose Bowl
Notes to the Financial Statements
Year ended 5 April 2025
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 6 Alwyne Road, London, N1 2HH.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
Funds allocation
Any restricted funds are those donated for specific purposes for the general benefit of the charity's beneficiaries and are included with the unrestricted funds. The designated fund differs only to the extent that monies are held for specific recipients.
Going concern
There are no material uncertainties about the charity's ability to continue.
Designated funds
The trustees consider it prudent to fund cover for our contribution to the future running costs of the Rose Bowl Centre of £87,439.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Page 7
,
The Friends of the Rose Bowl
Notes to the Financial Statements (continuea)
Year ended 5 April 2025
3. Accounting policies (continued)
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All imcoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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e income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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e legacy income is recognised when receipt is probable and entitlement is established.
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° income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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° income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Page 8
The Friends of the Rose Bowl
Notes to the Financial Statements (continueq
Year ended 5 April 2025
3. Accounting policies (continued
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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® expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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e expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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e other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Page 9
The Friends of the Rose Bowl Notes to the Financial Statements (continued) Year ended 5 April 2025
3. Accounting policies (continued)
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments! and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, which the transaction is measured at the present value of the future receipts discounted at market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payments is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. :
4. Voluntary income
| Unrestricted | Restricted | TotalFunds | |
|---|---|---|---|
| Funds | Funds | 2025 | |
| ae | a | 3 | |
| Donations | |||
| Donations including gift aid | 10,112 | 15,000 | 252 |
| Donations relating to auction | 45,978 | - | 45,978 |
| Grants | |||
| Grants receivable | 4,500 | 8,021 | 12521 |
| 60,590 | 23,021 | 83,611 |
Page 10
The Friends of the Rose Bowl
Notes to the Financial Statements (continueg)
Year ended 5 April 2025
| 4. | Voluntary income (continued) | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | |||||
| Funds | Funds | 2024 | |||||
| £ | £ | £ | |||||
| Donations | |||||||
| Donations including gift aid | 32,581 | _ | 32,581 | ||||
| Donations relating toauction | 38,845 | ~ | 38.845 | ||||
| Grants | |||||||
| Grants receivable | j | zs | es | Ss | |||
| 71,426 | — | 71,426 | |||||
| 5. | Other trading activities | ||||||
| Unrestricted | Total | Funds | Unrestricted | Total Funds | |||
| Funds | 2025 | Funds | 2024 | ||||
| £ | £ | £ | £ | ||||
| Auction | 16,763 | 16,763 | 23,610 | 23,610 | |||
| 6. | Investment income | ||||||
| Unrestricted | Total | Funds | Unrestricted | Total Funds | |||
| Funds | 2025 | Funds | 2024 | ||||
| £ | + | £ | £ | ||||
| Bank interestreceivable | 1,083 | 1,083 | 972 | 972 | |||
| 7. | Costs ofgenerating voluntary income | ||||||
| Unrestricted | Total | Funds | Unrestricted | Total Funds | |||
| Funds | 2025 | Funds | 2024 | ||||
| £ | £ | £ | £ | ||||
| Costs ofraising donations andlegacies - | |||||||
| Sponsorship | 216 | 216) | 4 | 216 | 216 | ||
| Auction event costs | 11,560 | 11,560 | 11,229 | 11,229 | |||
| 11,776 | 11,776 | 11,445 | 11,445 |
Page 11
The Friends of the Rose Bowl
Notes to the Financial Statements (continuea)
Year ended 5 April 2025
8. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | TotalFunds | |
|---|---|---|---|
| Funds | Funds | 2025 | |
| £ | £ | < | |
| Provisionofcosts forrunning ofthe RoseBowl Centre | 62,989 | le22 | 74,710 |
| Support costs | 1,613 | - | 1,614 |
| 64,602 | e722. | 76,324 | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2024 | |
| £ | te | ae | |
| Provision ofcosts forrunning ofthe RoseBowl Centre | 65,290 | - | 65,290 |
| Support costs | 2,005 | - | 2,005 |
| 67,295 | - | 67,295 |
9. Expenditure on charitable activities by activity type
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Grantfunding | Total funds | _—Total fund | ||
| directly | ofactivities Supportcosts | 2025 | 2024 | ||
| £ | £ | £ | £ | & | |
| Provision ofcosts for | |||||
| running ofthe RoseBowl | |||||
| Centre | 50,000 | 24,710 | -_ | 74,710 | 65,290 |
| Governance costs | - | — | 1,614 | 1,614 | 2,005 |
| 50,000 | 24,710 | 1,614 | 76,324 | 67,295 |
10. Governance costs
| Governance | ||||
|---|---|---|---|---|
| costs | Total2025 | Total 2024 | ||
| z | : | £ | S | |
| Professional fees | ~ | - | 216 | |
| Accountancy fees | 1,024 | 1,024 | 1,164 | |
| Bank charges | 533 | 533 | 624 | |
| Website domain | 56 | 56 | _ | |
| 1,613 | 1,613 | 2,004 |
Page 12
The Friends of the Rose Bowl
Notes to the Financial Statements (continueg
Year ended 5 April 2025
11. Analysis of grants
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||||||||
|---|---|---|---|---|---|---|
|2025|2024|
|£|re|
|Grants|to|institutions|
|Iseldon|Arts|CIC|24,710|15,290|
|Total|grants|24,710|15,290|
|12.|Independent examination|fees|
|2025|2024|
|3|ne|
|Fees|payable|to|the|independent|examiner|for:|
|Independent examination of the|financial|statements|1,024|1,164|
|13.|Staff costs|;|
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The average head count of employees during the year was Nil (2024: Nil).
No employee received employee benefits of more than £60,000 during the year (2024: Nil).
14. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
15. Debtors
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|||||||
|---|---|---|---|---|---|
|2025|2024|
|£|ae|
|Other|debtors|11,392|10,993|
|16.|Creditors:|amounts|falling|due within|one year|
|2025|2024|
|<=|+|
|Trade|creditors|1,738|2,500|
|Accruals|and|deferred|income|21,299|14,820|
|23,037|17,320|
|17.|Deferred|income|
|2025|2024|
|Amount deferred|in year|21,299|14,820|
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Page 13
The Friends of the Rose Bowl
Notes to the Financial Statements (continuea)
Year ended 5 April 2025
18. Analysis of charitable funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 6 April 2024 | Income | Expenditure | Transfers | 5 April2025 | |
| £ | £ | £ | £ | & | |
| Unrestricted Fund | 74,305 | 78,436 | (76,378) | (27,439) | 48,924 |
| Designated Fund | 60,000 | _ | _ | 27,439 | 87,439 |
| 134,305 | 78,436 | (76,378) | - | 136,363 | |
| At | At | ||||
| 6 April 2023 | Income | Expenditure | Transfers | 5 April 2024 | |
| a | £ | £ | ns | £ | |
| Unrestricted Fund | 57-037 | 96,008 | (78,740) | _ | 74,305 |
| DesignatedFund | 60,000 | - | ~ | - | 60,000 |
| 117,037 | 96,008 | (78,740) | ~ | 134,305 | |
| Restricted funds | |||||
| At | At | ||||
| 6April 2024 | Income | Expenditure | Transfers | 5 April2025 | |
| 2% | £ | ao | £ | = | |
| Music industry awareness project |
2 | 18,701 | (7,402) | = | 11,299 |
| Podcastdevelopment | ~ | 4,320 | (4,320) | - | ~ |
| Ss | 23,021 | (11,722) | = | 11,299 | |
| At | At | ||||
| 6 April 2023 | Income | Expenditure | Transfers | 5 April 2024 | |
| £ | z | £ | £ | se | |
| Music industry awareness | |||||
| project | = | = | = | = | = |
| Podcastdevelopment | - | - | ee | - | ~ |
| Analysis ofnet assets between funds | |||||
| Unrestricted | Restricted | TotalFunds | |||
| Funds | Funds | 2025 | |||
| ne | 23 | 3 | |||
| Current assets | 136,363 | 11,299 | 147,662 | ||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2024 | |||
| £ | 2p | 2 | |||
| Currentassets | 134,305 | a | 134,305 |
19. Analysis of net assets between funds
| Current | assets | |
|---|---|---|
| : | ||
| Current | assets |