2020-08-31-accounts

Annual Report and Unaudited Financial Statements for the Year ending 31 August 2020

Contents

The year we stayed 2-3 home to stay safe Report from the 4-5 Chair Operations report: 6-7 September 2019 to December 2020 How Rowan will 7 operate in a postlockdown world Review of activities 8 for January to December 2020 Our stories 9 Volunteering at 9 Rowan Commissions and 10 projects Business 11 engagement Trustees’ report 12-14 Independent 15 Examiner’s Report to the Trustees of Rowan Humberstone Ltd Statement of 16 financial activities for the year ending 31st August 2020 Balance sheet 17-18 Notes to the 19-31 financial statement

The year we stayed home to stay safe

Special thanks Back cover

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Report from the Chair

Last year, I noted how Rowan, in common with other charities, had felt the unwelcome and persistent impact of austerity over the past decade. I ventured that we might expect more bumps in the road! Whatever I thought at the time, I’m certain I did not expect a worldwide pandemic that would bring companies, countries and charities to their knees … all in all, something more than a =— bump in the road!

However, I am pleased to report that Rowan has weathered the storm better than most, though this has been a very, very tough year, requiring clear and often difficult decisions. And, of course, there remains much to do before normality is restored.

When I became Chair of Trustees, I was asked by staff what my ambitions were for Rowan. My answer was sustainability. And despite all the chaos of the past months, Rowan has held its course and remained sustainable. In January, we had strengthened the team by employing Gordon Mackenzie in the new role of operations assistant. Separately, we began working with a grants fundraiser. Both have been wise appointments and, in retrospect, solidified Rowan for the challenges ahead… though, of course, we did not know that at the time.

In the spring, as talk of a Lockdown grew, the Board began discussing with senior management what our response would be and how we would cope. So, when the Government announced the National Lockdown in March, we were rapidly able to support our student artists at home.

It was unavoidable that we would use furloughing with the majority of our staff placed on the Government scheme and, therefore, receiving 80 per cent of their salaries. The remaining staff also took short-term pay cuts. I should like to thank them for their understanding during what was a terrible situation. But, simply put, there was no alternative if Rowan was to survive.

With our studios closed, we retained a small team of staff (working from their homes) to support our student artists. Suddenly everyone bar key workers in the United Kingdom was told to stay at home, except for essential shopping or exercise. This was difficult for all of us, but few were hit harder than those with learning disabilities. For our student artists

it was much worse. Many were deemed “extremely vulnerable” and were asked to isolate, initially for 12 weeks. This made the role of the Rowan outreach team even more essential. Everyone – managers, staff, volunteers and Trustees – pulled together to keep things going, doing our best to ensure that no one felt alone or isolated.

All students were contacted regularly, activity packs were prepared and Zoom classes swiftly organised. We even held social Zoom sessions to keep in touch with all our friends because friendship is such an important part of Rowan.

The Feel good Friday newsletter was sent out every week and quickly became a “must read” for all as Hetti Wood, our Marketing Manager, included stories and photographs to let everyone know how we were all doing.

While nothing can replace the face-to-face interactions within our studios, it was so heartwarming to see how people were coping… and in some cases thriving… in these most trying of circumstances.

Staff and volunteers also regularly “met” for a cuppa and catch up online and the management and Board held regular Q&A sessions to try to answer staff questions regarding furlough and the future for Rowan. We trust we were able to keep staff and others informed as best we could, though at times – like the rest of the world – we simply did not know what was around the corner. Crystal balls have been in short supply in 2020 and Rowan was no exception.

To play my small part I determined to raise awareness of Rowan (and funds) by undertaking a virtual cycle ride from John o’Groats to Lands End (JoGLE). My friend Mary – now our minute taker at Board meetings – wrote up the JoGLE diary and together we covered 981 miles and raised almost £2,500.

Elsewhere, Trustees decided to hold weekly rather than monthly meetings, to support better the depleted management team. Our furloughed staff played their part too. Though the terms of the furlough scheme meant that direct support for Rowan was, understandably, not allowed, all undertook training courses to ensure they were even better equipped to cater for the needs of our student artists when “normal” times returned.

Subjects covered included infection control, anxiety management, safeguarding and protection of adults and coping with depression. As ever, the amazing Rowan staff and volunteers all did their very best, often while experiencing challenging personal circumstances themselves, to ensure our students were supported.

Clearly, this has been one of the most difficult years many of us have ever faced, and for many charities it

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has been impossible to continue. Yet – and possibly perversely – the resilience and creativity shown by all at Rowan has transformed this into a time that, while still challenging, has seen a number of highs.

And when we were able to welcome back student artists and staff to our studios this too was accomplished with calmness and positivity. Of course, the “Return to Rowan” was only able to be undertaken by a few – and ensuring Rowan was “Covid secure” (an odd term, I think) demanded yet more of our hard-pressed staff. However, it has been vital to maintain our online support in parallel with the onsite work and this will continue until all have returned to the fold. But perhaps Zoom sessions and the like have also shown us a different way to extend the “Rowan experience” beyond our traditional offering? Who knows what we might be able to achieve in the future.

Financially, we have received a number of Covidrelated grants and I cannot thank Natalie, our fantastic grant fundraiser, enough for her work. Joining Rowan at just the time when cash was in short supply might have been a daunting experience. Not for Natalie who just rolled up her sleeves and got on with the task of creatively finding funds in the most unusual of places.

Rowan has been generously supported too with donations to our appeals, the amounts raised always exceeding our targets. I’d like to thank everyone who gave of their time or money... and in many cases both. We ended 2020 in a much stronger financial position than we had any right to expect, given Covid-19, and some of these funds will restore our reserves to a more comfortable level. Some will be spent improving our digital presence and enhancing staff skills. Both will make Rowan more sustainable.

As I write this, we are all in Lockdown 3 and we may well be in a different situation by the time you read this! But irrespective of our short-term restrictions,

Rowan’s mission will continue to be to provide a safe, creative, enriching and welcoming environment where arts are used to bring people together, tackle social exclusion and improve health and wellbeing whether in the physical or digital worlds. Here’s hoping for better times ahead.

Finally, I must again thank everyone who has supported Rowan in anyway over the past 12 months. All the amazing gifts of money and time are truly appreciated. Without your help Rowan could not operate.

THANK YOU.

Rosalind Morgan, Chair.

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Operations report: September 2019 to December 2020

This period was divided into two very distinct parts, pre and post Covid 19.

Between September 2019 and March 2020, Rowan continued to operate as a dynamic, vibrant and active organisation with great plans for 2020.

So, to the first part of the year: Rowan student

artists took part in a number of community art projects such as Cows about Cambridge; a textiles exhibition at Addenbrooke’s Hospital; designing cards for the Mayor of Cambridge and participated in the Fitzwilliam Museum’s Feast of Senses.

We arranged regular trips to museums and | exhibitions to explore art and culture further and created art in the local community. All these projects helped encourage participation and social inclusion. We also ran our Forest School pilot – called “Rowan Rangers” and launched our Friends of Rowan scheme and had a successful Winter Warmer event in December 2019. In February we staged our second successful charity art exhibition and in March were planning our second production of a play at the Covent Garden Theatre, Cambridge, as well as preparing for our Annual General Meeting.

All this wonderful activity ground to a halt in March 2020 and as a direct result of coronavirus, we had to find new ways of working to ‘stay connected’ and provide much needed support to our student artists, carers and families.

During the initial period from April to June 2020, the decision was taken to furlough two-thirds of our staff and provide services with five staff members. As our financial position became clear, and with grant support, we were able to reopen our workshops to students and unfurlough some staff members in July.

Understandably most of our student artists were unsettled by such change. The level of confusion, fear, anxiety and additional challenges for our students and families, many of whom are ‘high risk’, should not be underestimated.

Latest findings from the Office for National Statistics, which highlight the impact of Covid-19 on the wellbeing of people with a disability, show 35% of disabled adults reported spending too much time alone compared to 19.9% of nondisabled adults. Almost one in 10 adults with a disability reported often, or always, feeling lonely

in the previous seven days, compared with fewer than one in 20 non-disabled adults. The findings also showed that 45% of disabled adults said they are very worried about the effect that Covid-19 is having on their life compared with around 30% of non-disabled adults, and 65% reported that concerns around Covid-19 are affecting their wellbeing.

We are proud that after a swift reorganisation, Rowan soon found new ways to work and was able to innovate and adapt to stay connected with all our students. It was crucial that we provided the increased support they, and their families, have needed during the lockdowns. And as I write we are currently in Lockdown 3.

With Lockdown 1, we quickly adapted and innovated our services to provide Zoom workshops in music, drama, craft, ceramics and Makaton in addition to providing ‘Art@home’ activity packs. Rowan also ran Zoom socials including coffee mornings, lunch dates, quizzes and discos and maintained regular phone, email and text contact with all student artists.

Throughout the pandemic – and as restrictions eased in late 2020 – Rowan helped people stay active and we were able to restart some ‘normal’ Covid secure workshops in wood, ceramic, textile, print and mixed media. In addition to continuing to provide remote online and phone support, following a successful pilot programme in 2019, we also launched Rowan Rangers our new Forest school. As an outdoor project, Rowan Rangers is considered safer during the pandemic (though not, sadly, during lockdowns), increasing choice and opportunity for local adults with learning disability.

We have helped people learn new skills, develop independence and increase self-confidence by supporting our students to access our new online services and by helping them understand the coronavirus guidelines and support them as they learn how to keep themselves and others safe during the pandemic.

We have continued to monitor and evaluate during Covid-19 and have encouraged feedback from our student artists. I am delighted we have been called “a lifeline” and told “I love Rowan” by our student artists.

Typical of these students was Tracie, who has been particularly enjoying Rowan’s online Zoom sessions which “have made me feel happier as I can see my friends...It is great that we can catch up”.

It is such a thrill for all of us at Rowan – staff, volunteers and Trustees – to hear such endorsements of what we are trying to achieve. We have increased happiness, health and mental wellbeing and have frequently been told “Rowan

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makes me happy”. Rowan has provided additional support to families and carers of people with learning disabilities.

When we are not in lockdown, we are aware that a number of students are unable to return due to additional complex health conditions. So we have been continuing to provide new remote services and exploring how we can continue and expand our digital offering, supporting more people remotely via Zoom. We’ll “stay connected” and help reduce loneliness and social isolation for all 80 plus of Rowans student artists and our volunteers,whom also have physical and mental health issues to contend with.

An immense amount of additional energy has been put into supporting our students over this time and that will carry on in future. We have continued to

approached life with humour, passion, optimism and fun, to make life interesting, fulfilling and enjoyable, reducing loneliness and increasing happiness, health and wellbeing.

I’d like to thank everyone who helped deliver these outcomes, particularly the Rowan Trustees, who were meeting weekly to provide support through the lockdown, and our staff and volunteers who adapted so marvellously to the changing needs of our student artists.

In this coming year our aspirations are to do great art; to make Rowan accessible to more student artists; to continue to value our beneficiaries – making the Rowan experience as meaningful as possible – and to grow our community of volunteers and supporters.

Des Trollip, Operations Manager

How Rowan will operate in a post-lockdown world

In a post-Covid world we hope to return to ‘normal’. This is to provide face-to-face half- or full-day sessions to our student artists.

We will continue to offer a choice of workshops/ studios in a variety of subjects with each session led by an artist who is supported by a volunteer. Subjects covered include woodworking, printmaking, textiles, ceramics, mixed media, graphics, forest school, music, movement and drama.

Skills learning, through doing, is embedded in our workshop practice and areas covered are:

• Creative skills: Studio-specific skills, developing commissioned works, both individual and collaborative, developing art and crafts artefacts for sale, performance arts – including music-making and theatre.

• Learning/training: Design work, developing models/maquettes, research into published and online materials, sketching, trialling new materials and approaches, raw theatre – storyboard design, script development and choreography, learning to play musical instruments.

• Work-based skills: Working in teams, working individually, includes time keeping, appropriate dress, managing a working day, getting on with colleagues, answering the phone, dealing with customers, public speaking, health and safety.

• Social skills: One unique aspect of Rowan’s student artists is the extent to which they take responsibility for the group and for each other. This clearly puts them in a better place in their lives outside Rowan. Students can become Rowan ambassadors, meaning that they can share their knowledge and experience with the wider community.

• Health and well-being: Rowan helps student artists to manage stress and to avoid loneliness by involving and consulting people, and make connections and friendships. Student artists can take part in exercises, signing and Makaton sessions and, most recently, venturing outside as part of our Forest School project.

• Basic skills: Numeracy, literacy and IT skills underpin all activities at Rowan.

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Review of activities for January to December 2020

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||| |---|---| |2020| |January|Fitzwilliam ‘Feast and Fast’ exhibition (visit with students)| |Our second charity art exhibition ‘Celebrate Your World’| |The Sampson Orchestra of Cambridge fundraiser, ‘Romance &| |Revolution’| |February| |Meeting Ground exhibition with Kettle’s Yard| |Quiz night at Rowan| |Irwin Mitchell presents £7,768 for 2019 support| |Emily S artwork displayed in Motion Sickness exhibition| |We close our arts centre and remote working begins due to| |March| |Covid-19| |Rosalind’s JoGLE journey begins| |The first Feel good Friday is out!| |Zoom sessions begin as well as remote working and contact| |April|Virtual quiz night| |Special appearance on ‘Do you Know’ CBBC with Maddie Moate| |First recording of ‘sign and sing’ released with Katy Perry’s| |‘Roar!’| |May| |Activity packs sent out to student artists to complete at home| |June|Rosalind completed her JoGLE journey raising £2,500| |We reopen our doors to small and safe groups. Plus the return of| |Rowan Rangers| |July| |Cambridge Open Windows takes place| |With the woodwork studio open once more commissions start| |August| |again| |September|[Continuation of double working with our studios open and online ]| |remote support| |October|First virtual disco for student artists, volunteers and supporters| |November|[Winter Campaign to raise vital funds due to the number of ]| |fundraising events cancelled or postponed| |December|Christmas Disco and Quiz!|

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Our stories

Grace is 21 and was born with Williams Syndrome. She has been coming to Rowan for two years and it is now a place where she feels safe to be herself. We asked Grace why she comes to Rowan: ‘To make me happy, to make me feel relaxed, to make me feel safe, see my friends, spend time with them…. I like enjoying activities, making me feel happier and stronger in myself.’

During the pandemic, Grace was able to continue enjoying Rowan virtually and that made such a huge difference to her day-to-day. Her mum, Sam, explains: ‘For Grace it has given her a sense of normality in a world that is far from normal. She has been able to access something that she loves and really enjoys. Being with her friends, seeing staff, albeit remotely, has filled a bit of a gap which has been amazing’.

Frank has been a student artist for four years and was able to return to Rowan in 2020 when we reopened from July to December. We asked Frank what he enjoyed the most about being back at the studios: ‘Get chatting to staff members and the other students. Working with the machines and also doing pottery as well.’ On many of the Zoom sessions, he was encouraged to move around, and he even got to try yoga for the first time, which has all made him feel happier and healthier in the lockdown: ‘Moving around with your body…using your hands and legs so you are not just sat still.’

Volunteering at Rowan

Volunteers at Rowan are essential to the everyday running of the studios. More than ever, they were needed in 2020 as we faced the pandemic head on. With support from our volunteers, we were able to stay connected with students and welcome them back into the building as and when it was safe.

‘The pandemic had a huge impact on our students. It was fantastic to assist in bringing a new cohort to Forest School in August for those who were unable or unwilling to mingle inside the Rowan building. I also kept in regular contact with

a sheltering student who had no access to online activities. This helped him to maintain a connection with Rowan staff and students.’

‘Getting back to Forest School at the end of summer was like returning to some sort of normality. It was lovely to make connections with people again and together discover the delights of the changing seasons, the plants and animals in the wood, enjoying games, dancing and singing about the world around us. Friday Forest school was probably the happiest day of the week for all

of us, it was for me.’ Phil Cope, volunteer.

‘The weekly Feel good Friday helps to make us all feel connected, some of the photos have been stunning and made me go out and look at things differently. It’s also a treat to see other people’s houses, gardens, pets and interests. I’ve been amazed at how creative the students have been at home with the Rowan activity packs, seeing those photos has helped to keep me in touch with the students I normally work with.’ Sarah Baker, volunteer

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Commissions and projects

Rowan’s outreach to the community is ongoing throughout the year across every studio. Commissions and projects come in all shapes and sizes allowing our student artists the opportunity to get involved. From liaising with the commissioner or project lead, designing the work, the creation or work on the project and then working on the final product, Rowan is involved every step of the way. Income from commissions increased significantly and represents considerable hard work by all.

1. Our ceramic student artists along with tutors Sarah and Abi were involved in the Fitzwilliam Museum’s Feast and Fast exhibition earlier in 2020

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1. Community Orchard sign at Midsummer Common in Cambridge commissioned by the Friends of Midsummer Common

2. Wooden Mice for ‘Wedding Cheese Cake’

3. Donation tree and mushroom toadstools commissioned for National Trust Oxburgh Hall in King’s Lynn

4. Social Enterprise Award Trophies for the SE100 Pioneers Post, London

5. Bespoke intarsia house sign

6. Rowan’s Christmas pop-up shop in December 2020 with work from all of our studios

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Business engagement

Rowan actively works with local businesses in Cambridgeshire and the surrounding areas. By engaging with us, companies make a difference in the day-to-day lives of our student artists as well as fulfilling their business goals.

Building effective and meaningful charitable partnerships can take a variety of forms including:

• Student artist bursaries

• Being a “charity of the year”

• Fundraising opportunities and activities

• Unique skills and expertise

• Volunteering and use of resources

Irwin Mitchell solicitors visited Rowan at the beginning of 2020 to celebrate raising a fantastic £7,768 to support all we do as their Charity of the Year.

At our yearly charity art exhibition which was held in February 2020 we were sponsored by Cheffins and Cambridge Smile Studio.

Thank you for helping our event happen!

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Trustees report

Report and financial statements for the year ended 31 August 2020.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity’s Memorandum and Articles of Association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016)

We have agreed that that the key financial aim is financial sustainability – meaning that we will seek to balance our books without unnecessary recourse to our limited reserves. In view of the pressures in the sector a decision has been taken, where possible, to focus on the development of own-earned income - with a move away from activities which do not have an immediate return.

The Board has spread responsibility for income generation (both earned or donated) across a range of charitable and social enterprise functions as follows:

• provision of services to student/artists. Contracted activities have delivered a slightly lower return £253,715 (£258,506) reflecting the drop off of service delivery due to the first Covid 19 lockdown. We are looking forward, next year, to an increase in contract value as services settle back to ‘normal’ and student artist numbers increase again.

• sales of art for public and private commission, provision of evening and weekend community art classes and spaces for hire. Sales decreased due to the Corona Virus epidemic £26,816 (£47,258)

• Rental income generated £46,237 (£36,407).

• fundraising for “useful” funds (including unrestricted and core funding) and for our student bursary – which will provide an opportunity for donors to channel funding to the heart of Rowan

• developing strong relationships with our corporate supporters

Investment powers and policy

Invested funds, managed by NW Brown (30.09.2020), fell in value by 1.37% against a fall in the FTSE100 index of 13.7%.

Reserves policy and going concern

The charity aims to maintain a minimum of 3 months’ unrestricted income, based on the previous financial year’s turnover. This reflects the requirement on Trustees to maintain sufficient reserves to meet unforeseen circumstances and to ensure that, should the Charity / Company Limited by Guarantee need to be wound up, it can meet the organisation’s financial obligations.

There is a Contingency Fund of £140,000 designated by the Trustees to cover at least 3 months’ expenditure.

As at 31 August 2020 the unrestricted assets of Rowan (excluding property) were £268,824.

Restricted reserves can only be used for a purpose or remit within the overall charitable aims and they can only be carried forward as reserves if the terms of the funding apply.

The Trustees will review the Reserves Policy annually.

The budget for 2020/2021 has been prepared to ensure Rowan remains a going concern. Plans for future periods - the focus will broadly be in the following key areas:

the focus will broadly be in the following key areas:	.
Growth in income from activities, services and sales.	Recruiting and reaching out to new student artists.
Increase the size of the Board of Trustees and develop a range of skills in support of Rowan’s activities.	Community engagement and building relationships.
Corporate engagement and networking in order to build on our local support base.	Professional development of the organisations through investment in staf and volunteers.
Improving student artists’ experience by a continued process of evaluation and embedding best practice.	Growth of charitable income from donations and gifts, including the Student Bursary.

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Structure, governance and management

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Rowan Directors, Trustees and Board members

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mrs Rosalind M Morgan (appointed Chair 7 November 2018)

Mrs Ruth C Laslett (appointed 2 September 2008)

Mr David McConnell (appointed 2 October 2019)

Mr Ray Olds (appointed 2 October 2019)

Mr Richard Todd (resigned 25 October 2019)

Mr Jonathan Wilson (appointed 21 February 2019)

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Spheres of responsibility and organisation structure

It is the responsibility of the Board to advise on the strategic goals of Rowan. They also ensure that it functions safely and well, in compliance with legal and statutory requirements. The Board delegates responsibility for the day-to-day management of the charity, business planning and development to the Director of Operations, Des Trollip. Senior management also includes the Deputy Director of Operations, Abi Moore.

Appointment of Trustees

Board appointments are rotated in accordance with the memorandum of association. New directors and trustees are appointed based on the specific skills they bring to the Board. Candidates are appointed after a vote.

Trustee induction and training

Trustee induction is supported by the Board and by the Director of Operations. Trustees can access ongoing training as required.

Principal financial management policy

A budget is prepared annually and used to measure and control income and expenditure. Rowan accounts are scrutinised by the Board on a monthly basis. Processes informed by ongoing risk assessments are in place to prevent fraud or financial irregularities. Two signatories are used for financial transactions.

Related parties

No Rowan Trustees receive remuneration or any other benefit from their work with the charity. Any connection between a Trustee or senior manager of the charity with a contractor, supplier or commissioner must be disclosed to the full Board. In the current year no such related party transactions were reported. The Board and senior managers are advised as required by:

Azets Petersfields LLP Brown Shipley & Company Ltd. Tracey Richardson and Hywel Griffiths Matthew Holmes Consultant Solicitor Alastair Macdougall and specialists in Collectives Investment 2 Hazlewell Court employment law Manager Bar Road Lolworth Cambridge 20 Station Rd Richmond House CB23 8DS Cambridge 16 – 20 Regent St CB1 2JD Cambridge CB2 1DB

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Risk management

The Trustees have a risk management strategy, which comprises:

• An annual review of the principal risks and uncertainties that the charity faces

• The establishment of policies and procedures to mitigate those risks identified as part of the annual review and

• The implementation of procedures designed to mitigate or manage any potential impact on the charity should those risks materialise

This work has identified that financial stability is the major financial risk. A key element of the management of

financial risk is a regular review of income and expenditure, available funds and active management of debtors and creditors. Attention has also focused on vacancy rates and student/artist recruitment.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Trade creditors

The charity’s current policy concerning the payment of trade creditors is to follow the CBI’s Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU). The charity’s current policy concerning the payment of trade creditors is to:

• settle the terms of payment with suppliers when agreeing the terms of each transaction;

• ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and

• pay in accordance with the company’s contractual and other legal obligations.

• Trade creditors of the company at the year-end were equivalent to five days purchases, based on the average daily amount invoiced by suppliers during the year.

Trustees’ responsibilities in relation to the financial statements

The charity trustees (who are also directors of Rowan for the purposes of company law) are responsible for preparing a trustee’s annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom General Accepted Accounting Practice). Company law and the law applicable to charities in England and Wales require the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and of the incoming resource and application of resources including income and expenditure for that period. In preparing the financial statements the trustees are required to:

• Select suitable accounting policies and apply them consistently

• Observe the methods and principles in the Charities SORP

• Make judgements and estimates that are reasonable and prudent

• State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements

• Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 1985, the Charities Act 1993, the Charity (accounts and reports) regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure to our auditors

In so far as the trustees are aware at the time of approving our trustees annual report:

There is no relevant information needed by the auditor in connection with preparing their report

The trustees have each taken all steps to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information

The trustees’ report was approved by the Board of Trustees.

Mrs R M Morgan Trustee/Chair Date: 14 April 2021

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ROWAN HUMBERSTONE LIMITED

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF ROWAN HUMBERSTONE LIMITED

I report to the trustees on my examination of the financial statements of Rowan Humberstone Limited (the charity) for the year ended 31 August 2020.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

• 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

• 2 the financial statements do not accord with those records; or

• 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

• 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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 financial statements to be reached.

Tracey Richardson BSc (Hons) FCA

Azets Ruthlyn House 90 Lincoln Road Peterborough PE1 2SP United Kingdom

20 April 2021 Dated: .........................

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Total			2019	£		82,991	293,357	12,407	40,287	-	429,042		71,361	320,829	392,190	(1,150)	35,702
Restricted	funds		2019	£		36,555	-	-	-	-	36,555		-	24,153	24,153	-	12,402
Unrestricted	funds	designated	2019	£		-	-	-	-	-	-		-	27,365	27,365	-	(27,365)
Unrestricted	funds	general	2019	£		46,436	293,357	12,407	40,287	-	392,487		71,361	269,311	340,672	(1,150)	50,665
Total			2020	£		202,694	267,515	13,016	50,183	37	533,445		70,869	340,554	411,423	(3,872)	118,150
Restricted	funds		2020	£		125,100	-	-	-	-	125,100		-	86,197	86,197	-	38,903
Unrestricted Unrestricted	funds funds	general designated	2020 2020	Notes £ £	Income and endowments from:	Donations and legacies 3 77,594 -	Charitable activities 4 267,515 -	Other trading activities 5 13,016 -	Investments 6 50,183 -	Other income 7 - 37	Total income 408,308 37	Expenditure on:	Raising funds 8 70,869 -	Charitable activities 9 227,384 26,973	Total resources expended 298,253 26,973	Net gains/(losses) on investments 13 (3,872) -	Net incoming resources before transfers 106,183 (26,936)

16

				35,702	-		35,702	2,309,573	2,345,275
				12,402	(4,740)		7,662	44,574	52,236
ROWAN HUMBERSTONE LIMITED	STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)	INCLUDING INCOME AND EXPENDITURE ACCOUNT	FOR THE YEAR ENDED 31 AUGUST 2020	Net incoming resources before transfers 106,183 (26,936) 38,903 118,150 50,665 (27,365)	Gross transfers between funds (56,620) 66,126 (9,506) - (33,034) 37,774	Net income for the year/	Net movement in funds 49,563 39,190 29,397 118,150 17,631 10,409	Fund balances at 1 September 2019 29,261 2,263,778 52,236 2,345,275 11,630 2,253,369	Fund balances at 31 August 2020 78,824 2,302,968 81,633 2,463,425 29,261 2,263,778	The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

17

ROWAN HUMBERSTONE LIMITED

BALANCE SHEET

AS AT 31 AUGUST 2020

Notes Fixed assets Tangible assets 14 Investment properties 15 Investments 16 Current assets Stocks 19 Debtors 18 Cash at bank and in hand Creditors: amounts falling due within one year 20 Net current assets Total assets less current liabilities Income funds Restricted funds 22 Unrestricted funds - designated 23 Unrestricted funds - general	2020 £ £ 1,027,968 1,085,000 64,124 2,177,092 7,508 26,263 257,971 291,742 (5,409) 286,333 2,463,425 81,633 2,302,968 78,824 2,463,425	2019 £ £ 1,038,778 1,085,000 69,813 2,193,591 2,975 36,724 118,385 158,084 (6,400) 151,684 2,345,275 52,236 2,263,778 29,261 2,345,275	2019 £ £ 1,038,778 1,085,000 69,813 2,193,591 2,975 36,724 118,385 158,084 (6,400) 151,684 2,345,275 52,236 2,263,778 29,261 2,345,275
			2,193,591 151,684
			2,345,275
			52,236 2,263,778 29,261
			2,345,275

18

ROWAN HUMBERSTONE LIMITED

BALANCE SHEET (CONTINUED)

AS AT 31 AUGUST 2020

The charity is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2020. No member of the charity has deposited a notice, pursuant to section 476, requiring an audit of these financial statements.

The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charity.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

14 April 2021 The financial statements were approved by the Trustees on .........................

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

Mrs R C Laslett Mr D R McConnell Trustee Trustee

Company Registration No. 04448427

19

ROWAN HUMBERSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2020

1 Accounting policies

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Where there is no donor restriction on donated funds, we will always avoid imposing a designation.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

20

ROWAN HUMBERSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

1 Accounting policies

Grant income is recognised in full on receipt unless there are unfulfilled performance conditions that do not allow the income to be recognised. In this case the grant is accounted for as a liability until the performance conditions have been met. Grant income is only deferred if the grant is time-related and relates partly or wholly to a post year-end time period.

The charity is not VAT registered.

1.5 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 2% on cost Plant and equipment 25% on reducing balance Motor vehicles 25% on reducing balance

Land is not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

Items costing in excess of £500 and intended for use over more than one financial period are capitalised.

1.7 Investment properties

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve.

1.8 Fixed asset investments

Fixed asset investments are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in net income/(expenditure) for the year.

1.9 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

21

ROWAN HUMBERSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

1 Accounting policies

1.10 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.11 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.12 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes 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 an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

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, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans 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 operations from suppliers. Amounts payable are classified as current liabilities if payment 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.13 Taxation

The charity is exempt from corporation tax on its charitable activities.

22

ROWAN HUMBERSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

1 Accounting policies

1.14 Employee benefits

Any unused holiday entitlement up to one week can be carried over into the following year. Any remaining entitlement is forfeited. The cost of any unused holiday is recognised on this basis.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.15 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Restricted funds funds general £ £ Donations and gifts 38,496 - Grants 39,098 125,100 77,594 125,100 For the year ended 31 August 2019 46,436 36,555 Donations and gifts The Pye Foundation 3,000 - J Pocock - - Batterson Chivers Foundation 1,500 - Irwin Mitchell Fundraiser 7,600 - Persimmon Homes 1,000 - Cambridge Original Post 2,400 - Cambridge University Press - - Other 22,996 - 38,496 -	Total 2020 £ 38,496 164,198 202,694 3,000 - 1,500 7,600 1,000 2,400 - 22,996 38,496	Total 2019 £ 46,436 36,555
		82,991
		82,991
		2,500 2,000 1,500 9,500 - - 5,306 25,630
		46,436

23

ROWAN HUMBERSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

3 Donations and legacies Grants receivable for core activities ARM Coop Sponsorship Qualcomm Cambridge University Press The Andrew Lloyd Webber Foundation Clore Duffield Foundation CAF Coronavirus Emergency fund Coronavirus Community Support fund, distributed by The National Lottery Chapman Charitable Trust HMRC COVID Small Business Grant The Fore - RAFT fund Millers Music Earl Fitzwilliam Charitable Trust Screwfix The Edward Gostling Foundation Nineveh Trust Cambridge Community Foundation - COVID emergency Fund Cambridge Community Foundation - Anglian Water Positive Difference Fund Cambridge and Peterborough Greater Authority - COVID-19 capital grant Simon Gibson Charitable Trust Cambridge City Council – ‘in plain sight’ Other	- - - - - - - - - - - - - - - - - - - - - 39,098 39,098	1,500 3,519 16,120 - - - 6,000 10,000 1,000 25,000 5,000 1,228 1,000 5,000 10,000 5,000 5,000 5,000 9,506 3,000 1,000 11,227 125,100	1,500 3,519 16,120 - - - 6,000 10,000 1,000 25,000 5,000 1,228 1,000 5,000 10,000 5,000 5,000 5,000 9,506 3,000 1,000 50,325 164,198	- - - 5,000 16,265 10,000 - - - - - - - - - - - - - - - 5,290
				36,555

4 Charitable activities

Sales Student fees	2020 £ 13,800 253,715 267,515	2019 £ 34,851 258,506
		293,357

24

ROWAN HUMBERSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

5 Other trading activities

	Unrestricted	Unrestricted
	funds	funds
	general	general
	2020	2019
	£	£
Community classes	13,016	12,407

6 Investments

	Unrestricted	Unrestricted
	funds	funds
	general	general
	2020	2019
	£	£
Rental income	46,237	36,407
Income from listed investments	2,923	3,163
Interest receivable	1,023	717
	50,183	40,287

7 Other income

	Unrestricted	Total
	funds
	designated
	2020	2019
	£	£
Net gain on disposal of tangible fixed assets	37	-

25

ROWAN HUMBERSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

8 Raising funds

	Unrestricted	Unrestricted
	funds	funds
	general	general
	2020	2019
	£	£
Fundraising and publicity
Other fundraising costs	19,673	10,174
Staff costs Fundraising and publicity Trading costs	34,175 53,848	40,417 50,591
Other trading activities	6,338	8,962
Staff costs Trading costs Investment management	4,718 11,056 5,965	6,547 15,509 5,261
	70,869	71,361

26

ROWAN HUMBERSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

9 Charitable activities

Staff costs Depreciation and impairment Books and subscriptions Stock movement Supply tutors Student training costs Staff entertaining and refreshments Studio and project costs Staff training and other costs Motor expenses Postage, stationery, printing and IT costs COVID-19 Student support costs Bank charges Development costs - non-capital Premises costs Equipment repairs and renewals Share of support costs (see note 10) Share of governance costs (see note 10) Analysis by fund Unrestricted funds - general Unrestricted funds - designated Restricted funds	2020 £ 221,217 26,973 3,377 (4,533) 575 - 779 23,701 3,980 3,450 5,219 6,034 1,292 4,338 17,154 3,894 317,450 14,105 8,999 340,554 227,384 26,973 86,197 340,554	2019 £ 205,099 27,365 2,493 224 2,332 1,945 492 20,784 547 2,355 3,480 - 899 1,114 21,098 457
		290,684 24,817 5,328
		320,829
		269,311 27,365 24,153
		320,829

27

ROWAN HUMBERSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

10 Support costs Staff costs Legal fees Trustees liability insurance Independent examiner's fees Payroll and childcare vouchers Analysed between Charitable activities	Support costs Governance costs £ £ 14,105 - - 1,740 - 496 - 5,472 - 1,291 14,105 8,999 14,105 8,999	2020Support costs Governance costs £ £ £ 14,105 24,817 - 1,740 - 70 496 - 480 5,472 - 3,360 1,291 - 1,418 23,104 24,817 5,328 23,104 24,817 5,328	2019 £ 24,817 70 480 3,360 1,418
			30,145
			30,145

11 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

There were no trustees' expenses paid for the year (2019- £nil).

12 Employees

The average monthly number of employees during the year was:

Employment costs Wages and salaries Social security costs Other pension costs	2020 Number 19 2020 £ 252,237 9,871 12,107 274,215	2019 Number 21
		2019 £ 253,618 10,879 12,383
		276,880

28

ROWAN HUMBERSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

13 Net gains/(losses) on investments

	Unrestricted	Unrestricted
	funds	funds
	general	general
	2020	2019
	£	£
Gain/(loss) on investments	(3,872)	(1,150)

14 Tangible fixed assets

Freehold land and buildings £ Cost At 1 September 2019 1,105,322 Additions - Disposals - At 31 August 2020 1,105,322 Depreciation and impairment At 1 September 2019 82,288 Depreciation charged in the year 22,108 Eliminated in respect of disposals - At 31 August 2020 104,396 Carrying amount At 31 August 2020 1,000,926 At 31 August 2019 1,023,034	Plant and equipment Motor vehicles £ £ 50,280 12,775 15,071 1,200 (145) - 65,206 13,975 37,415 9,896 3,845 1,020 (37) - 41,223 10,916 23,983 3,059 12,865 2,879	Total £ 1,168,377 16,271 (145) 1,184,503 129,599 26,973 (37) 156,535 1,027,968 1,038,778

15 Investment property

Investment property
	2020
	£
Fair value
At 1 September 2019 and 31 August 2020	1,085,000

The investment property is the part of the charity property that is let out, being approximately 30% of the building. It has been valued on an open market basis at 31 August 2019 by John Pocock of Pocock & Shaw. The trustees consider that having the property valued on a regular basis is appropriate.

29

ROWAN HUMBERSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

16 Fixed asset investments

Cost or valuation At 1 September 2019 Net movements Valuation changes At 31 August 2020 Carrying amount At 31 August 2020 At 31 August 2019 17 Financial instruments Carrying amount of financial assets Debt instruments measured at cost: Trade debtors Other debtors Bank and cash Measured at cost Equity instruments measured at fair value: Fixed asset investments Measured at fair value Carrying amount of financial liabilities Trade creditors Accruals Measured at cost 18 Debtors Amounts falling due within one year: Trade debtors Prepayments and accrued income

Listed investments £ 69,813 (1,817) (3,872) 64,124 64,124 69,813 2020 2019 £ £ 13,299 9,272 - - 257,971 118,385 271,270 127,657 64,124 69,813 64,124 69,813 966 421 2,702 2,912 3,668 3,333 2020 2019 £ £ 9,393 9,272 16,870 27,452 26,263 36,724

30

ROWAN HUMBERSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

19 Stocks Work in progress 20 Creditors: amounts falling due within one year Notes Deferred income 21 Trade creditors Other creditors Accruals 21 Deferred income Other deferred income	2020 £ 7,508 2020 £ 1,470 966 271 2,702 5,409 2020 £ 1,470	2019 £ 2,975
		2019 £ 2,640 421 427 2,912
		6,400
		2019 £ 2,640

31

22 Restricted funds	The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for defined purposes:	Movement in funds Movement in funds	Balance at Incoming Resources Transfers Balance at Incoming Resources Transfers Balance at	1 September resources expended 1 September resources expended 31 August	2018 2019 2020	£ £ £ £ £ £ £ £ £	Music fund 21,412 5,000 (9,945) - 16,467 16,228 (14,573) - 18,122	Connecting Communities A14 project 1,797 1,253 (3,050) - - - - - -	Microsoft fund 5,000 - (260) (4,740) - - - - -	Drama fund 16,365 17,234 (8,131) - 25,468 - (14,375) - 11,093	Southwold trip fund - 2,079 (2,079) - - - - - -	Student artist bursary fund - 10,989 (688) - 10,301 13,866 (7,800) - 16,367	COVID-19 capital grant - - - - - 9,506 - (9,506) -	COVID-19 support fund - - - - - 71,500 (45,449) - 26,051	Screwfix grant - - - - - 5,000 - - 5,000	Rowans creative workshop fund - - - - - 4,000 (4,000) - -	Rowan Rangers - Forest School - - - - - 5,000 - - 5,000	44,574 36,555 (24,153) (4,740) 52,236 125,100 (86,197) (9,506) 81,633

32

22 Restricted funds	Music fund	This comprises funding of grants and donations towards the provision of music workshops.	Connecting Communities A14 project	This fund represents a Highways Agency Funded Project to produce public art.	Microsoft fund	This comprises a grant towards improving student artists access to digital and communications technologies, to be delivered in the 2018-19 year.	Drama fund	This comprises grants and donations towards the provision of drama to be delivered in the 2018-19 year.	Southwold trip fund	This fund sponsored a 35 year celebration trip to Southwold for all our students, staff and volunteers, money was raised through donations from the same.	Student artist bursary fund	A fund created to cover tuition fees for student artists requiring financial assistance.	COVID-19 capital grant	A fund to purchase of capital equipment by Cambridge and Peterborough Greater Authority.	COVID-19 support fund	A fund to support Rowans costs incurred during Covid -19. Grants awarded awarded by CAF Coronavirus emergency fund, the Coronavirus Community Support Fund,	distributed by The National Lottery, The Fore, Edward Gostling, Cambridge Community Foundation, Anglian Water Positive Difference, Cadent and others.	Screwfix grant	A fund to support capital improvements at Rowan.	Rowan Rangers - Forest School	A fund towards costs of launching ‘Rowan Rangers’ – our new Forest school.	Rowans creative workshop fund	A fund to support costs of running Creative workshops at Rowan Humberstone. Includes grants awarded from Simon Gibson and Cambridge City Council.

33

ROWAN HUMBERSTONE LIMITED	NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)	FOR THE YEAR ENDED 31 AUGUST 2020	23 Unrestricted funds - designated	These are unrestricted funds which are material to the charity's activities made up as follows:	Movement in funds	Balance at Resources Transfers Balance at Incoming Resources Transfers Balance at	1 September expended 1 September resources expended 31 August	2018 2019 2020	£ £ £ £ £ £ £ £	Contingency fund 109,000 - 31,000 140,000 - - - 140,000	Fixed asset fund - Investment property 1,085,000 - - 1,085,000 - - - 1,085,000	Fixed asset fund - Property 1,045,142 (22,108) - 1,023,034 - (22,108) - 1,000,926	Fixed asset fund - Equipment 10,388 (4,297) 6,774 12,865 37 (4,145) 16,126 24,883	Fixed asset fund - Mini bus 3,839 (960) - 2,879 - (720) - 2,159	Property development fund - - - - - - 50,000 50,000	2,253,369 (27,365) 37,774 2,263,778 37 (26,973) 66,126 2,302,968	Contingency fund	This has been designated by the board to set aside funds to cover at least 3 months of general expenditure.	Fixed asset funds	For clarity the net book value of the operational tangible fixed assets have been allocated to a separate designated fund such that the general fund comprises unrestricted	net current assets only. Regarding the minibus fund, this comprises funding donations provided for the initial purchase and ongoing running costs and the balance at the	year-end comprises the net book value of the minibus.	Property development fund	This has been designated by the board towards future property improvements including expansion of first floor Studio Space and roof repairs at 40 Humberstone Road.

34

		Total	2019	£				1,038,778	1,085,000	69,813	151,684	2,345,275
		Restricted	2019	£				-	-	-	52,236	52,236
		Designated	2019	£				1,038,778	1,085,000	69,813	70,187	2,263,778
		Unrestricted	2019	£				-	-	-	29,261	29,261
		Total	2020	£				1,027,968	1,085,000	64,124	286,333	2,463,425					2019	£	59,785
		Restricted	2020	£				-	-	-	81,633	81,633					2020	£	59,799
FOR THE YEAR ENDED 31 AUGUST 2020	24 Analysis of net assets between funds	Unrestricted Designated	2020 2020	£ £	Fund balances at 31 August 2020 are represented		by:	Tangible assets - 1,027,968	Investment properties - 1,085,000	Investments - 64,124	Current assets/(liabilities) 78,824 125,876	78,824 2,302,968		25 Related party transactions	Remuneration of key management personnel	The remuneration of key management personnel is as follows.			Aggregate compensation

35

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40 Humberstone Road, Cambridge, CB4 1JG

01223 566027

[e-mail] www.rowanhumberstone.co.uk

RowanCambridge

@RowanCambridge

Special thanks to:

CAF Coronavirus Emergency Fund Cambridge and Peterborough Greater Authority Cambridge City Council Cambridge Community Foundation Cambidgeshire County Council Cambridge Unitarian Church

The Cambridgeshire Community Foundation Chapman Charitable Trust Chesterton News

Co-op Local Community Fund Cole Charitable Trust Darwin Nurseries Dhiverse Disability Arts Festival Domino Ltd UK

The Dosoco Foundation

Earl Fitzwilliam Charitable Trust Ecclesiastical - movement for good Edward Gostling Foundation Evelyn Trust The Fitzwilliam Museum The Fore-Raft fund Friends of Midsummer Common Great St Mary’s Church, Wider Concerns

Guidance Employment and Training Group (GET) Howard Osborne LLP Howard Ventures The Inclusion Project Irwin Mitchell

Kettle’s Yard Living Sport The Lord-Lieutenant of Cambridgeshire Mayor of Cambridge Gerri Bird Metaswitch Michaelhouse Centre Millers Music Milton Country Park Museum of Cambridge The Nineveh Trust Charitable Trust Oxburgh Hall, National Trust Parkside Pool Persimmon Homes Pioneers Post Pye Foundation Qaulcomm Azets

Rosemary Talbot’s Cambridge blog Screwfix foundation

The Selwyn College Fellows’ Charities Fund Sheep’s Green project Simon Gibson Charitable Trust Singing Allowed STEnG (Social Training Enterprise Group)

Coronavirus Community Support Fund, distributed by The National Lottery Trinity College Waitrose on Fitzroy Street Will Charitable Trust Wolfson Foundation

RowanCambridge

RowanHumberstone

Design & Print by Burwell Print Centre

ROWAN HUMBERSTONE LTD TRADING AS ROWAN Registered office: 40 Humberstone Road, Cambridge, CB4 1JG. www.rowanhumberstone.co.uk

Registered charity no. 1099555 Registered company no. 04448427 (England and Wales)