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2022-08-31-accounts

Annual report 2022-2023

for the year ending 31 August 2022

Contents

p3 Welcome from the Chair Annual review from p4 the Chief Executive Officer p5-6 Our year in numbers p7-8 Who we are p9 Our impact p10 Our stories p11 Special thanks p12-15 Trustees’ report p16-35 Accounts

2

Welcome from the Chair

2022 saw the world emerge from Covid, and so did Rowan. It has taken the whole year to get back on track, but Rowan and our student artists are thriving once again. Everybody got back to normal at their own pace. For some, with underlying health issues, a super cautious approach was necessary and for others they couldn’t wait to get back inside and be sociable again. We were able to accommodate everyone. A massive thanks goes to our staff and volunteers for managing this process, which had to be handled on a case-by-case basis. Of course, we are all living with the after-effects of a world that takes Infection, Prevention and Control much more seriously. Safety is vital, but once that’s taken care of, creating an environment where our student artists can get creative, have fun and socialise is paramount.

During the year the Board recruited a new CEO. Cherie Evans joined us in April 2022 with a wealth of experience in leadership and management, most recently with Kettle’s Yard. With her appointment we can be confident that Rowan will continue to develop opportunities for student artists to enjoy creating art, socialising and having active lives. My son, Freddie, loves going to Forest School on a Friday, where he can sing, dance, tell stories and best of all, start the fire (with Russ’s help).

It’s the Board’s job to make sure that the finances are in good order. The pandemic was a worrying time, but, in fact, finances were pretty steady throughout that period. Furlough helped enormously, of course, but credit goes to our outstanding fundraising team for finding new sources of revenue as our circumstances changed. Despite much uncertainty revenue was only down 8 per cent during the financial year and there was a modest deficit which we were easily able to finance from reserves. As everything continues to recover, we are confident that we can once more build our revenue base, so we will be able to help more student artists to come to Rowan to create fabulous art.

None of what Rowan is about would be possible without the caring, passionate delivery of services by our excellent staff and volunteers. Some of the staff have been around for many years and are the bedrock of the organisation, while others have arrived more recently and slot right into making Rowan a better place. The Board would like to take this opportunity to thank all staff and volunteers for their hard work and flexibility, while keeping the student artists front and centre of what we do at Rowan.

In January 2023 we said farewell to Rosalind Morgan as Chair and Trustee of Rowan. She has served on the Board for 16 years and as Chair for four years. The past four years, in particular, were a time of many ups and downs and Ros was always committed to taking Rowan forward to new heights. With her expertise as an accountant, the charity’s finances are secure and she was always pushing for us to deliver more services to help more people with a learning disability in the Cambridge area. The whole of Rowan is extremely grateful to Ros for her commitment and the immeasurable amount of time and skill she devoted to Rowan. We wish her well in her future pursuits.

I became Chair in November 2022. I have served on Boards in the field of learning disability for more than 20 years, as a CEO, Trustee or Chair in Portsmouth (Down Syndrome Educational Trust) and Bishop’s Stortford (Grove Cottage, Bishop’s Stortford Mencap and Accuro). My son, Freddie, who is 23 years old has Down’s Syndrome and loves attending Rowan all year round. I look forward to taking Rowan on the next stage of its journey and welcoming more people with learning disabilities through our doors in the years to come.

David McConnell

Chair of Trustees

3

Annual review from the Chief Executive Officer

I arrived at Rowan in April 2022, more than halfway through the financial year. I found myself in a happy place where adults with learning disabilities came to be part of a vibrant and supportive community. I was struck by the commitment of the staff, the quality of the work and a genuine feeling of camaraderie running throughout the organisation.

The focus at Rowan has always, and rightly, been understanding and responding to the needs of the student artists. During the early days, I learnt about the amazing ways that Rowan staff and volunteers adapted during lockdown, and observed the steady, careful, and often very individual, process which helped students build the confidence required to return to in-house workshops. I also noted the impact of the extraordinary demands that the disruption and uncertainty of the pandemic had on the staff. Ever focused on student well-being, some were struggling with their own.

To address these pressures, we began reviewing job descriptions - creating new, more defined and focused roles. Abi Moore is now the Creative Workshop Manager, using her unflappable manner to guide and support the tutors in their individual workshops and managing creative themes and projects throughout Rowan. This year we saw wildflowers and tributes to the Queen’s Jubilee created in all media. Next year we expect to see a zoo – including a rather large giraffe as part of a city-wide project.

Gordon Mackenzie became Student Support Manager, using his colossal talents to focus on student support both daily and helping new people come to Rowan. His commitment and ever-good nature never wavering.

The workload is now shared further, with our talented tutors, who work most closely with student artists, undertaking one-to-one evaluations, and exploring with students possible new projects and trips. These ideas, in turn, are supported by our fundraisers who seek grants to make these plans a reality. With the return of Hetti King from maternity leave we are focusing on providing excellent communications to all stakeholders. Events are back in full swing and well attended.Teamwork continues to be at the forefront for Rowan staff, and as normality returns, the enthusiasm to make each day even more fantastic is strengthened.

Going forward

With a robust and energised team in place, our focus for 2022-2023 is threefold. To strengthen the offer we make to every student artist. To grow our community, ensuring that all adults with learning disabilities in Cambridge are aware of what is available at Rowan and can access it. And to use our facilities and the excellent art produced at Rowan to help financially secure its future.

In the next year we will begin regular student evaluations again. The evaluations will record the progress of individuals and ensure that we are supporting each person to meet their personal goals. We will use the information gathered to inform the activities that we offer at Rowan, ensuring that we provide the right opportunities for personal development and fun.

Student numbers are now near pre-pandemic levels, but there is room for growth. Alongside the regular creative workshops and forest school, we are considering new opportunities, and seeking to increase the number of places available. Although we do not intend to increase workshop sizes, there is space to add additional workshops and an extra day at forest school. It is our intention to ensure that all adults with learning disabilities in Cambridgeshire know about Rowan and what it can offer them. We are keen to support those transitioning from school to adulthood to find a place where they can continue to grow.

We will use our amazing spaces to help raise much needed funds. Student fees do not cover the entire cost of running Rowan. Alongside fundraising, we will use our facilities and other assets to provide evening classes – sharing with the local community what is like to spend time at Rowan. We will also expand venue hire and build up the online shop to share the wonderful work produced here.

Finally, I would like to reiterate that it is important that students help to shape our priorities and work. We value the feedback from the surveys sent to students, families, and carers and appreciate the time and thoughtfulness that goes into completing them. Alongside daily feedback we will use e student forums to confirm that we are on track and to explore what else we can do to improve the student artist experience. We could not do this work without the steadfast support of all our stakeholders and for this we are incredibly grateful.

And of course, none of this could be accomplished without the committed work of our Trustees and volunteers. On behalf of myself, and the staff, I would like to thank them for their considerable contribution.

Cherie Evans

Chief Executive Officer

4

Our year in numbers

Our 2022 headline figures at a glance!

18 staff 30 volunteers who gave their 80 student artists supported time to support our work

15 Trips

£1,800 raised by our Friends £3,234 raised at our annual of Rowan Walk for Rowan

£5,144 raised by our £2,500 raised at the Sawston 1 Platinum Jubilee afternoon skydivers jumping 13,000 Fun Run tea party feet!

5

1 art installation at the Cambridge Grand Arcade

3 corporate volunteer days 82 canvases sold at our ‘The painting Rowan and helping at Great Outdoors’ art exhibition forest school

£17,000 of office furniture £4,917 raised through the £2,360 raised with the donated by Lloyds Bank ‘Big Give’ Co-op Community Fund

More than £115,000 raised in grants

ALPKIT grant for a new 6 pop up shops parachute at forest school

6

Rowan is an arts centre and forest school for adults with learning disabilities. Since 1984 we have provided a safe, creative, and enriching environment where the arts are used as a tool to bring people together and tackle social exclusion.

We develop the skills and potential of our student artists while improving their happiness, health and wellbeing. We also deliver much needed respite to families and carers.

Rowan provides a range of creative workshops in:

Our vision

We believe in a world where all people with learning disabilities will have access to the creative arts. We seek to promote wellbeing and eliminate social exclusion, isolation and prejudice.

Our mission

Using visual and performing arts, Rowan endeavours to provide a safe, creative and enriching environment where adults with learning disabilities, under the direction of artists, craftspeople and volunteers, can grow artistically, as well as in their abilities, confi dence and self-esteem – all vital ingredients for independent living, health and wellbeing.

Rowan is committed to:

7

This year, we proudly registered with the Fundraising Regulator to help promote best practice fundraising and demonstrate compliance with the law.

We have also recently gained our Disability Confident Committed certificate, which demonstrates our commitment to removing barriers that might be preventing disabled people and those with long-term health conditions from accessing employment with Rowan. It also aligns with our vision to ensure that disabled people have opportunities to fulfil their potential and realise their aspirations.

Rowan is registered as Rowan Humberstone Ltd with the Charity Commission under registered charity number 1099555 in accordance with the Charities Act 2011.

Our values

8

Our impact

It’s important to demonstrate the impact that we have on the lives of our student artists and their families. For that reason, we are committed to monitoring and evaluating our work.

In our 2022 student survey, respondents told us:

How long have you been coming to Rowan?

Our parent / carer evaluaton told us:

“Rowan provides a safe and nurturing environment in which my daughter can thrive and reach her full potential. She has the opportunity to interact with lots of people, without Rowan she would become isolated, lonely and have mental health issues.”

“It is a supportive, caring community. Mutual respect is very evident. The staff team develop great relationships and are clearly committed to the well-being of the students.”

“The environment at Rowan is very purposeful and my daughter feels welcome and ‘at home’. All staff are very respectful and kind to all of the students and give lots of encouragement.”

9

Our stories

Wendy H, staff

During my first Rowan Cambridge Open Studios visit in 2004, I felt inspired by the space, all the artwork, the activities available to the students and the overall ethos. Meeting staff it was clear how much hard work went into the running of Rowan and all the dedication required. Soon after my visit I became a volunteer. But sadly, after six sessions, my life circumstances changed unexpectedly so I couldn’t continue. While volunteering I spent time in ceramics and wood and this gave me a glimpse of how supportive, accepting, and safe the environment was for students.

After volunteering, I realised I would like to work with individuals in a creative way and in 2005 I completed an Arts Development and Teaching NVQ 3 course. To gain experience and evidence for the course I started facilitating creative sessions for a range of community groups.

In 2011 I was facilitating wellbeing sessions in the community, and I approached Rowan to see if I could adapt activities in a creative way to suit the needs and skills of student artists. Rowan named the sessions The Art of Balancing our Lifestyle and the students and I covered topics around physical and mental wellbeing in a fun and creative way.

In May 2022 I approached Rowan as I was interested in the cover tutor role. I couldn’t believe how much the building had changed but I recognised some faces from volunteering days. In June I started working as a Cover Tutor. I covered all the workshops but mostly print and mixed media. This gave me the opportunity to get to know many students and gain a good understanding of day-to-day life at Rowan. After covering in the wood workshop two days a week for around two months, I was appointed a Wood Tutor in January 2023. I don’t have a woodwork background but I’m learning as I go along as some of the past wood tutors have. I’m also exploring ways to incorporate wood in a range of other activities. As time goes on, I’m finding different ways to engage with student artists and their preferred style of learning and working.

It is a delight working with the student artists and getting to know them. Some enjoy participating in set projects while others prefer to work on their own and this is understood, encouraged, and supported. Fun is a big part of Rowan, and it is a pleasure to hear student artists laughing and joking with their friends and staff. No day is the same as it is a forever-changing environment with different students on different days. Day-to-day and life challenges the students face also have a big impact on the days. But one thing that doesn’t change is the dedication of the staff. They are doing their utmost to ensure Rowan runs as smoothly as it can in the forever-changing circumstances.

Amy C, student artist

Amy has a learning disability and attends Rowan twice a week in the ceramic studio. She has been coming to Rowan for five years. When asked to describe Rowan in one word she shouted “EPIC!” Amy’s current focus is creating ceramic pots for an exhibition with Kettle’s Yard and she recently entered a canvas to our annual charity art exhibition.

“I get to do my own designs in all different patterns.”

“I enjoy coming to Rowan because of the amazing staff. Making new friends and learning new skills.”

A student’s journey into volunteering

One of our volunteers who started Rowan as a student artist more than eight years ago is now a key volunteer in the woodwork studio. As well as continuing as a student artist, he supports the student artists and staff with their work and commissions. “It has improved my confidence and my skills since becoming a volunteer. Thanks to the new skills, I’ve been able to help students more with their work, when staff and volunteers are busy. Becoming a volunteer, has made my time at Rowan a bit more challenging but also interesting – I’ve been taught how to use more of the machines.”

10

Special thanks

All the community fundraisers who have supported us….

Alpkit

Jesus Green Lido

Annie Tranmer Charitable Trust Anton Jurgens Charitable Trust Arts Council England

Kettle’s Yard Lloyds Bank Martin & Co Estate Agents

Asda Foundation

Mencap Go digital

Ashley Family Foundation

Batterson-Chivers Foundation

Cambridge City Council

Millers Music Mills & Reeve Museum of Cambridge

Cambridge Gospel Choir

National Lottery Community Fund

Cambridge University Press and Assessment

Cambridgeshire and Peterborough Combined Authority

Cambridgeshire Charity for Care and Relief

Openwork foundation People’s Postcode Lottery players

Qualcomm Radcliffe Trust Rotary Club of Cambridge Sawston

Cambridgeshire Community Foundation

Rotary Club of Cambridge South

Cambridgeshire County Council

Singing Allowed

Citystay Group

STEnG

Cole Charitable Trust

Strangward Trust

Co-op Local Community Fund

Tesco – Groundworks

Dhiverse

The Headley Trust

Didymus Charity

The Leys School Community Fund

Edward Gostling Foundation

The Pye Foundation

Evelyn Trust

Waitrose Trumpington

Fitzwilliam Museum

Warwick and Dominey Fund

Friends of Rowan (Our regular givers and individual supporters)

Garfield Weston Foundation

Plus all other individuals, companies and supporters of Rowan.

11

Trustees report

Report and financial statements for the year ended 31 August 2022

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.

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

Reserves policy and going concern

The charity aims to maintain a minimum of three 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 to Rowan 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 three months’ expenditure.

As 31 August 2022 the unrestricted assets of Rowan (excluding property) were £308,324. 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 2022/2023 has been prepared to ensure Rowan remains a going concern.

Plans for future periods

The focus will broadly be in the following key areas:

12

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:

Rosalind Morgan (Chair) (resigned as Chair November 22; resigned from the Board January 2023)

David McConnell (appointed 2 October 2019; appointed Chair November 2022)

Ruth C Laslett (appointed 2 September 2008)

Ray Olds (appointed 2 October 2019)

Jonathan Wilson (appointed 21 February 2019)

Katie Allen (appointed 27 January 2021; resigned December 2021)

Ruth McGowan (appointed 27 January 2021)

None of the Trustees has any beneficial interest in the company. All 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 CEO who is supported by a Senior Leadership Team.

13

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 CEO. 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:

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Azets Brown Shipley & Company Ltd.
Compass House Alastair Macdougall, Collectives
Investment Manager
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Risk management

The Trustees have a risk management strategy, which comprises:

This work has identified that financial stability is a continuous concern. 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.

14

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:

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 examiners

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 examiner in connection with preparing their report.

The Trustees have each taken all steps to make themselves aware of any relevant information and to establish that the examiner is aware of that information.

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

Mr David McConnell Chair

Date: 27 March 2023

15

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 2022.

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:

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 Cambridgeshire PE1 2SP United Kingdom

Dated: 4 April 2023

16

Total 2021 £ 199,563 269,982 3,900 45,710 - 519,155 61,550 431,908 493,458 5,389 31,086
Restricted funds 2021 £ 140,032 - - - - 140,032 - 140,462 140,462 - (430)
Total Unrestricted Unrestricted funds
funds		 general
designated		 2022
2021
2021		 £
£
£		 189,506
59,531
-		 246,901
269,982
-		 -
3,900
-		 40,367
45,710
-		 479
-
-		 477,253
379,123
-		 88,245
61,550
-		 440,728
260,606
30,840		 528,973
322,156
30,840		 (5,933)
5,389
-		 (57,653)
62,356
(30,840)
Restricted funds 2022 £ 125,296 - - - - 125,296 746 138,013 138,759 - (13,463)
Unrestricted Unrestricted funds
funds		 general
designated		 2022
2022		 £
£		 64,210
-		 246,901
-		 -
-		 40,367
-		 479
-		 351,957
-		 87,499
-		 271,302
31,413		 358,801
31,413		 (5,933)
-		 (12,777)
(31,413)
Notes Income and endowments from: Donations and legacies
3		 Charitable activities
4		 Other trading activities
5		 Investments
6		 Other income
7		 Total income Expenditure on: Raising funds
8		 Charitable activities
9		 Total expenditure Net gains/(losses) on investments
13		 Net (outgoing)/incoming resources before transfers

17

Total 2021 £ 31,086 - 31,086 2,463,425 2,494,511
Restricted funds 2021 £ (430) (7,500) (7,930) 81,633 73,703
Unrestricted Unrestricted
Restricted
Total Unrestricted Unrestricted		 funds
funds
funds
funds
funds		 general
designated
general
designated		 2022
2022
2022
2022
2021
2021		 Notes
£
£
£
£
£
£		 Net (outgoing)/incoming resources before transfers
(12,777)
(31,413)
(13,463)
(57,653)
62,356
(30,840)		 Gross transfers between funds
(5,714)
10,149
(4,435)
-
(4,366)
11,866		 Net (expenditure)/income for the year/ Net movement in funds
(18,491)
(21,264)
(17,898)
(57,653)
57,990
(18,974)		 Fund balances at 1 September 2021
136,814
2,283,994
73,703
2,494,511
78,824
2,302,968		 Fund balances at 31 August 2022
118,323
2,262,730
55,805
2,436,858
136,814
2,283,994

18

ROWAN HUMBERSTONE LIMITED

BALANCE SHEET

AS AT 31 AUGUST 2022

Notes
Fixed assets
Tangible assets
14
Investment properties
15
Investments
16
Current assets
Stocks
18
Debtors
19
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
21
Unrestricted funds - designated
22
Unrestricted funds - general		 2022
£
£
987,729
1,085,000
64,825
2,137,554
15,391
15,641
289,133
320,165
(20,861)
299,304
2,436,858
55,805
2,262,730
118,323
2,436,858		 2021
£
£
1,008,994
1,085,000
65,385
2,159,379
11,198
17,771
330,503
359,472
(24,340)
335,132
2,494,511
73,703
2,283,994
136,814
2,494,511		 2021
£
£
1,008,994
1,085,000
65,385
2,159,379
11,198
17,771
330,503
359,472
(24,340)
335,132
2,494,511
73,703
2,283,994
136,814
2,494,511
2,159,379
335,132
2,494,511
73,703
2,283,994
136,814
2,494,511

19

ROWAN HUMBERSTONE LIMITED

BALANCE SHEET (CONTINUED)

AS AT 31 AUGUST 2022

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 2022. 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.

The financial statements were approved by the Trustees on 27 March 2023.

Mrs R C Laslett Mr D R McConnell Trustee Trustee

Company registration number 04448427

20

ROWAN HUMBERSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

1 Accounting policies

Charity information

Rowan Humberstone Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 40 Humberstone Road, Cambridge, CB4 1JG, United Kingdom.

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.

21

ROWAN HUMBERSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

1 Accounting policies

(Continued)

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).

22

ROWAN HUMBERSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

1 Accounting policies

(Continued)

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.

23

ROWAN HUMBERSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

1 Accounting policies

(Continued)

1.14 Employee benefits

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
2022
2022
£
£
Donations and gifts
60,210
-
Grants
4,000
125,296
64,210
125,296		 Total Unrestricted
Restricted
funds
funds
general
2022
2021
2021
£
£
£
60,210
44,960
-
129,296
14,571
140,032
189,506
59,531
140,032		 Total
2021
£
44,960
154,603
199,563

4 Charitable activities

Sale of artwork
Student fees		 2022
£
9,948
236,953
246,901		 2021
£
12,777
257,205
269,982

24

ROWAN HUMBERSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

5 Other trading activities

Total Unrestricted
funds
general
2022 2021
£ £
Community classes - 3,900
Investments
Unrestricted Unrestricted
funds funds
general general
2022 2021
£ £
Rental income 37,091 40,900
Income from listed investments 864 3,609
Interest receivable 2,412 1,201
40,367 45,710
Other income
Unrestricted Total
funds
general
2022 2021
£ £
Net gain on disposal of tangible fixed assets 479 -
Raising funds
Unrestricted Restricted Total Unrestricted
funds funds funds
general general
2022 2022 2022 2021
£ £ £ £
Fundraising and publicity
Other fundraising costs 21,273 746 22,019 25,967
Staff costs 52,543 - 52,543 26,494
Fundraising and publicity 73,816 746 74,562 52,461

6 Investments

7 Other income

8 Raising funds

25

ROWAN HUMBERSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

8 Raising funds

(Continued)

Trading costs
Other trading activities
Staff costs
Trading costs
Investment management		 -
10,656
10,656
3,027
87,499		 -
-
-
-
746		 -
10,656
10,656
3,027
88,245		 495
5,152
5,647
3,442
61,550

9 Charitable activities

Staff costs
Depreciation and impairment
Subscriptions
Stock movement
Subsistence
Studio and project costs
Staff training and other costs
Motor expenses
Postage, stationery, printing and IT costs
COVID-19 Student support costs
Bank charges
Premises costs
Maintenance costs
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		 2022
£
259,589
31,413
1,063
(4,193)
2,608
11,636
2,033
2,404
15,977
497
1,450
30,863
18,684
374,024
25,131
41,573
440,728
271,302
31,413
138,013
440,728		 2021
£
282,338
30,840
1,026
(3,690)
630
24,982
1,005
2,490
11,854
3,051
1,087
23,943
25,445
405,001
10,862
16,045
431,908
260,606
30,840
140,462
431,908

26

ROWAN HUMBERSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

10 Support costs

Staff costs
Legal fees
Independent examiner's
fees
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
25,131
-
-
22,353
-
19,220
25,131
41,573
25,131
41,573		 2022Support costs Governance
costs
£
£
£
25,131
10,862
-
22,353
-
4,411
19,220
-
11,634
66,704
10,862
16,045
66,704
10,862
16,045		 2021
£
10,862
4,411
11,634
26,907
26,907

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 (2021- £nil).

12 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs		 2022
Number
23
2022
£
317,200
16,045
14,674
347,919		 2021
Number
20
2021
£
298,852
13,402
12,592
324,846

There were no employees whose annual remuneration was more than £60,000.

27

ROWAN HUMBERSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

13 Net gains/(losses) on investments

Gain/(loss) on sale of investments
Tangible fixed assets
Freehold land
and buildings
£
Cost
At 1 September 2021
1,105,322
Additions
-
Disposals
-
At 31 August 2022
1,105,322
Depreciation and impairment
At 1 September 2021
126,504
Depreciation charged in the year
22,108
Eliminated in respect of disposals
-
At 31 August 2022
148,612
Carrying amount
At 31 August 2022
956,710
At 31 August 2021
978,818		 Unrestricted Unrestricted
funds
funds
general
general
2022
2021
£
£
(5,933)
5,389
Plant and
equipment
Motor vehicles
Total
£
£
£
77,072
13,975
1,196,369
11,741
-
11,741
(3,272)
-
(3,272)
85,541
13,975
1,204,838
49,190
11,681
187,375
8,731
574
31,413
(1,679)
-
(1,679)
56,242
12,255
217,109
29,299
1,720
987,729
27,882
2,294
1,008,994

14 Tangible fixed assets

15 Investment property

Fair value

At 1 September 2021 and 31 August 2022

2022 £ 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 2022 by Pocock & Shaw. The trustees consider that having the property valued on a regular basis is appropriate.

28

ROWAN HUMBERSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

16 Fixed asset investments

Cost or valuation
At 1 September 2021
Net movements
Valuation changes
At 31 August 2022
Carrying amount
At 31 August 2022
At 31 August 2021
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
Other taxation and social security
Trade creditors
Accruals
Measured at cost
18
Stocks
Work in progress		 Listed
investments
£
65,385
5,373
(5,933)
64,825
64,825
65,385
2022
2021
£
£
7,134
13,347
-
-
289,133
330,503
296,267
343,850
64,825
65,385
64,825
65,385
5,455
3,367
7,435
14,494
5,403
2,342
18,293
20,203
2022
2021
£
£
15,391
11,198

29

ROWAN HUMBERSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

19
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
20
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2022
£
6,553
9,088
15,641
2022
£
5,455
7,435
2,568
5,403
20,861		 2021
£
11,273
6,498
17,771
2021
£
3,367
14,494
4,137
2,342
24,340

30

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
Balance at		 1 September
resources
expended
1 September
resources
expended
31 August		 2020
2021
2022		 £
£
£
£
£
£
£
£		 CAF resilience fund
-
16,350
(16,350)
-
-
-
-
-		 CCF funds
-
19,999
(16,363)
-
3,636
-
(3,636)
-		 Music fund
18,122
-
(15,054)
-
3,068
-
(3,068)
-		 Intro to music and drama fund
-
13,500
-
-
13,500
-
-
13,500		 Living Sport Cambridge fund
-
5,200
(5,200)
-
-
-
-
-		 Drama fund
11,093
-
(11,093)
-
-
-
-
-		 Student artist bursary fund
16,367
-
(4,000)
-
12,367
-
(4,800)
7,567		 COVID-19 capital grant
-
7,500
-
(7,500)
-
-
-
-		 COVID-19 support fund
26,051
6,332
(26,051)
-
6,332
7,918
(14,250)
-		 Screwfix grant
5,000
-
(2,643)
-
2,357
-
(1,479)
878		 Rowans Creative Workshop fund
-
60,401
(29,984)
-
30,417
93,020
(91,117)
32,320		 Rowan Rangers - Forest School
5,000
10,750
(13,724)
-
2,026
8,000
(8,486)
1,540		 Go Digital fund
-
-
-
-
-
6,358
(6,358)
-		 Jubilee fund
-
-
-
-
-
10,000
(10,000)
-		 81,633
140,032
(140,462)
(7,500)
73,703
125,296
(143,194)
55,805
21

31

32

ROWAN HUMBERSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

22 Unrestricted funds - designated

These are unrestricted funds which are material to the charity's activities made up as follows:

Balance at
1 September
2020
£
Contingency
fund
140,000
Fixed asset
fund -
Investment
property
1,085,000
Fixed asset
fund -
Property
1,000,926
Fixed asset
fund -
Equipment
24,883
Fixed asset
fund - Mini
bus
2,159
Property
development
fund
50,000
2,302,968		 Resources
expended
£
-
-
(22,108)
(8,192)
(540)
-
(30,840)		 Transfers
Balance at
1 September
2021
£
£
-
140,000
-
1,085,000
-
978,818
11,866
28,557
-
1,619
-
50,000
11,866
2,283,994		 Resources
expended
£
-
-
(22,108)
(8,900)
(405)
-
(31,413)		 Transfers
£
-
-
-
10,149
-
-
10,149		 Balance at
31 August
2022
£
140,000
1,085,000
956,710
29,806
1,214
50,000
2,262,730

Contingency fund

This has been designated by the board to set aside funds to cover 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.

33

----- Start of picture text -----
ROWAN HUMBERSTONE LIMITED
----- End of picture text -----

Total 2021 £ 1,008,994 1,085,000 65,385 335,132 2,494,511
Restricted 2021 £ - - - 73,703 73,703
Designated 2021 £ 1,008,994 1,085,000 65,385 124,615 2,283,994
Unrestricted 2021 £ - - - 136,814 136,814
Total 2022 £ 987,729 1,085,000 64,825 299,304 2,436,858
Restricted 2022 £ - - - 55,805 55,805
Unrestricted Designated 2022
2022		 £
£		 -
987,729		 -
1,085,000		 -
64,825		 118,323
125,176		 118,323
2,262,730
Analysis of net assets between funds Fund balances at 31 August 2022 are represented by: Tangible assets Investment properties Investments Current assets/(liabilities)
23

34

ROWAN HUMBERSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

24 Related party transactions

Remuneration of key management personnel

Remuneration of key management personnel
The remuneration of key management personnel is as follows.
2022 2021
£ £
Aggregate compensation 44,664 82,046

35

Rowan Humberstone Ltd 40 Humberstone Road Cambridge, CB4 1JG

01223 566027 info@rowanhumberstone.co.uk www.rowanhumberstone.co.uk

@RowanCambridge

@RowanCambridge

@RowanCambridge

Rowan

RowanCambridge

Rowan

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