2023-08-31-accounts

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Annual Report and Unaudited Financial Statements for the year ending 31 August 2023

P1 P2 P3-4 P5-6 P7 P8 P9 P10-13 P14-36	Welcome from the Chair Annual review from the Chief Executive Officer Our year in numbers Who we are Our impact Our stories Special thanks Trustees' report Accounts

Welcome from the Chair

I am pleased to be able to say that Rowan has enjoyed a successful year. A few more people are coming to Rowan to create art than last year, and almost everybody who was with us last year remains with us. The atmosphere at Rowan is always great. That, of course, is largely down to the staff and volunteers who turn up to inspire, motivate and sometimes cajole our student artists onto their next project. We are very grateful to them all.

However, all this has taken place against a backdrop of a cost of living crisis. Prices have gone up and so the costs of running a charity have risen too. Nevertheless, we managed to turn last year’s small deficit into a modest surplus this year, despite everything costing that bit more. I would once again like to congratulate the fundraising team on a job well done, keeping the revenues flowing, so that we can provide more services for more people with a learning disability.

I was able to announce our new CEO, Cherie Evans, last year. Now that she’s been with us for a full year, she has hit her stride and has started to knit all the aspects of Rowan together. There are many groups of people who would like to have their say about how Rowan is run – parents and carers, staff and volunteers, funders, Trustees and other local voices, as well as, of course, the student artists themselves. Being available to all those interested parties and steering the organisation is a demanding and, at times, stressful job. This is a role that Cherie has handled with distinction. Now a year on, she is bringing her own ideas to the fore and blending them with the momentum that Rowan already has with considerable aplomb.

We are very fortunate to own our building in Chesterton, Cambridge, which has been converted into art workshops downstairs and flats upstairs. Nevertheless, these are old buildings and it is inevitable that now and again something will need fixing beyond day to day maintenance. In the coming year we will have to spend a considerable amount of time and money getting our roof repaired properly. It has been patched up several times, but this will be our major project for 2024. We will take the opportunity to fix solar panels and upgrade the central heating system, so this will end up costing in the order of £150,000£200,000. Grants are available for this sort of work, so none of it will be undertaken until we have firm commitments, but the fundraising and then the project management are going to be herculean tasks which will be very time consuming. We are grateful that the fundraising team are committed to taking this on and the Senior Management Team will do everything in their power to keep Rowan ticking along as usual.

David McConnell Chair of Trustees

Annual review from the Chief Executive Officer

A year on and I remain in awe of the great work and energy – both artistic and caring - that takes place here at Rowan.

Having focused last year on <tidying up= this year was about taking opportunities. In 2022/23 we integrated more with Cambridge – raised our reputation through projects with the city and county councils, the universities and local charities and businesses.

This year we showcased student work in benches in Cambridge, at the new

Registry Office and at our own exhibitions, ran a public workshop based in Milton Library and one at the Fitzwilliam where student artists taught the public how to work with clay. We participated in an experiment with Anglia Ruskin University using one student9s artwork, which travelled from Cambridge to Colchester. We made buttons for Kettle9s Yard9s Lucie Rie exhibition. Three student9s work went to Yorkshire for an international show.

We expanded by supporting Ukrainian refugees, with a grant provided by the Cambridgeshire County Council; offering music therapy; and by starting a holiday club to introduce ourselves to new people. In the summer we learned about Makaton and Shakespeare and went to the 8Feast on the Piece9 to celebrate the coronation of the King.

Free of Covid restrictions, staff started new projects and took more trips. There were visits to the Botanic Gardens and the local museums and a Bird Box Trail was created in the summer. Student evaluations began in earnest, and with generous funding from John Lewis we began a planned programme supporting ten student artists each year to meet their personal goals. In the autumn we held workshops to find out what student artists really wanted from Rowan and then devised a plan to achieve as much as we could. From this, we will be introducing new workshops in 2024. We grew, and now welcome more people, increasing the fun.

In 2022/23 we welcomed Alison Ayres (print tutor), Sarah Healey-Dilkes (woodwork tutor), Kate Weir (fundraising cover) and Luce Moelans (shop and community classes). They joined a committed, enthusiastic, and highly creative team fitting in seamlessly. The high level of genuine caring never falters at Rowan, a tribute to the devotion of the staff, which is manifested in the happy atmosphere and wonderful creative work produced here every day.

I am very grateful to our generous funders who support special projects and those who support us generally to help cover the short fall in student fees and keep our doors open. I would also like to thank our external fundraisers. And we could not do without the stellar work provided by our wonderful volunteers and stakeholders and the support from our Board of Trustees.

This year, as we celebrate our 40th Anniversary, besides replacing the roof, we expect to be even more ambitious, ensuring that our student artists experience new things, have more opportunities to learn and to spread their incredible talents wide and far. Finally, I would like to thank the Rowan students artists. They are inspirational and it is a great honour to be working for them.

Cherie Evans Chief Executive

Our year in numbers

Our 2022-2023 headline figures at a glance!

21 staff

96 student artists supported

21 volunteers who gave their time to support our work

22 student trips

20 Friends of Rowan £2550 raised at our annual made a monthly gift Walk for Rowan

12 bird boxes displaying Rowan artwork for the Bird Box Gallery Project in Cambridge

£6091 raised by 13 runners in the Cambridge Half Marathon

1 King’s Coronation Fun Day funded by Cambridge City Council

95 sessions of community evening classes

3 student artists9 work displayed an exhibition in Yorkshire

£2066 raised at our annual Christmas Fair

170 visitors came to our Cambridge Open Studios weekend

4 corporate volunteer days at Rowan

8 pop-up shops at Rowan and in the local community

£1680 crowdfunded with support from Co-op Warm Spaces initiative

£20,000 grant from the John Lewis Foundation to kickstart our Student Skills Enhancement Programme

1 private and 5 public commissions

57 canvases sold at our 8Together9 art exhibition

33 students took part in our new Holiday Club

£175,000 received in grants

----- Start of picture text -----
Who we are
----- End of picture text -----

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:

Woodwork Ceramics Textiles Print Mixed Media Drama Music Forest School

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, confidence and self-esteem – all vital ingredients for independent living, health and wellbeing.

Rowan is committed to:

Approaching life as an adventure, with humour, passion, optimism and fun

Sharing our passion for bringing art and people together

Fairness and equal opportunities based on respect for all people

Doing good for the whole – our students, staff, community and society

Providing a safe, caring, nurturing, inspiring and creative environment

Championing personal development, innovation and excellence

Encouraging friendship and a sense of belonging

Sustainability and acting in an environmentally friendly and ethical way

A social enterprise model that produces financial returns and social impact

We are registered with the Fundraising Regulator to help promote best practice fundraising and demonstrate compliance with the law.

Our Disability Confident Committed certificate 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 ART STRENGTHEN OUR COMMUNITY Art is empowering, healing and inclusive. Rowan believes in the power of Art is about what you can do, not what community - we are stronger together you can't do. We believe in art as a force than as individuals. We will join with and for personal growth and self-expression. enhance our community. ACT RESPONSIBLY EMPOWERING PEOPLE ~~__&~~ As part of the local and global community, We value everyone at Rowan and we aim to conduct ourselves responsibly strive to give them the voice, tools and on all levels and be accountable for our opportunity to achieve their very best. decisions and actions. ACTIVE COMMUNICATION SUSTAINABLE DEVELOPMENT We believe that everybody deserves to We aim to grow and strengthen so we are be heard. We listen attentively and financially stable, ecologically aware and communicate clearly. We use all methods work with commitment and alongside the necessary to enhance communication. people and organisations we support. ~~a a~~ 6

Our impact

It is 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 2023 student survey, respondents told us:

----- Start of picture text -----
How long have you been coming to Rowan? 98% have made friends at Rowan
100% feel confident at Rowan
100% have fun at Rowan
34.7% Less than 1 year
1-3 years 100% say they have choice about what they do at
14.3% Rowan
3-5 years
8.2% 5-10 years 96% keep active at Rowan
_ 20.4% More than 10 years 98% told us their mood improves at Rowan
20.4% I don’t know 94% said Rowan helps them feel more independent
98% feel part of the group/community when at Rowan
100% would recommend Rowan to other people
----- End of picture text -----

----- Start of picture text -----
Brilliant, excellent, friendly, jolly, At forest school I have fun
Rowan is important
helpful, relaxing, peaceful, learning
in my life skills, teamwork.
I have lot of
friends there
I LOVE ROWAN! Rowan is very good. I like Rowan is good - it gets
knitting and working on the me out of the house
sewing machine
I hope we will stay
together for more years
----- End of picture text -----

Our parent/carer evaluation told us:

100% would recommend Rowan to other people
100% agree that their student artist is less lonely/socially isolated at Rowan
100% agree that their student artist’s independence increased at Rowan

Rowan not only helps students, it shows society as a whole what people with different abilities can achieve if given suitable support.

...an environment where people are respected and can thrive rather than just be looked after and kept safe.

...a very inspiring place which finds ways of allowing students to do things that are quite difficult for a lot of them.

Our stories

Jake, volunteer

<What motivated me to volunteer with Rowan? It all started with a leaflet that found its way through my door. I had just finished my Ph.D. in History and ventured into a law conversion course briefly, but that wasn't my calling. Instead, I found myself tutoring individuals with long-term illnesses at schools. That experience resonated with me, as did my previous experiences of helping at holiday clubs, particularly those geared towards supporting autistic individuals. It became clear to me that I wanted to take a year out to volunteer and do some good.

In May 2023, I started volunteering in the Ceramics workshop. Every Tuesday since then, you will find me there, contributing in any way I can. Despite not having a background in ceramics or any type of art, I quickly settled into my role at Rowan. I would describe myself as the Rowan Labrador – I bring the energy, noise and hopefully joy! As well as helping in ceramics, I also help coordinate 8games club9 on a Tuesday afternoon. One of my favourite memories over the last year at Rowan has been the intense 8Yu-Gi-Oh9 matches with student, Matt.

Volunteering at Rowan has provided me with clarity and direction. It's a constant in my life, one that I haven't missed a week of. The atmosphere here is unique, almost like stepping into Narnia—a rare find indeed. I vividly recall overhearing a student talking to a member of the public at an event and they described Rowan as 8a place where I9m not punished for being myself9, and that struck a chord with me. I know opportunities like this don't come around often, which is why I'm fully committed to making the most of my time here while I can.

The impact of volunteering at Rowan has had on me goes beyond words. It is less of a job and more of a genuine privilege to be part of this community. I can confidently say that I've become a better person because of it.= Tracie, student artist

Eloise, student artist

<The people are amazing. Rowan is the best place on Earth=, Eloise beams as she reflects on her journey since joining Rowan in 2022. Eloise does ceramics and drama one day a week at Rowan. <I am learning how to use different clay tools and also how to shape clay. I struggle with fine motor skills and this helps with that=.

<I also like drama, it makes me feel free. I discovered drama during Rowan9s Holiday Club which I enjoyed so much I now do drama every week. I especially like doing physical theatre as I can feel my body move with the words.=

<Rowan is warm, friendly, and accepting. The general atmosphere makes me happy. Everyone is fun to be around. I have a busy week doing lots of different things, but when I arrive at Rowan I feel calm.=

Kalen, student artist

Kalen, who is autistic, also does drama and ceramics at Rowan.

<…drama helps with being autistic. Lindsey is a good drama teacher because she knows that I see drama in a different way to others. I also enjoy ceramics because I make things…I love making octopuses!=.

<I would say that Rowan means a lot to me, and I love coming to Rowan. I feel happy at Rowan and I am welcomed.= When asked how Kalen would describe Rowan he shouted, 8BEST!9.

Special thanks

Our heartfelt thanks to all supporters and volunteers for making our work possible over the past year. Below are some of the companies and organisations who made contributions.

Anglia Ruskin University

Asda Foundation

Barret and David Wilson Community Fund Batterson Chivers Foundation Bird Box Gallery

Cambridge City Council Cambridgeshire Community Foundation Cambridgeshire County Council City of Cambridge Symphony Orchestra

CMR Surgical

Cole Charitable Trust

Cooleraid Ltd Tracie, student artist

Co-op Local Community Fund

Daniela Reava-Beri, Anglia Ruskin University David Solomons Charitable Trust Edward Gostling Foundation Evelyn Trust

Fitzwilliam Museum

Friends of Cherry Hinton Brook Friends of Jesus Green Lido Friends of Rowan (Our regular givers and individual supporters) Garfield Weston Foundation Jennifer Crompton, High Sherriff of Cambridgeshire John Lewis Foundation Kettles Yard

Martin & Co estate agents

Mills & Reeve

Minto Trust National Lottery Community Fund Openwork Foundation People’s Postcode Lottery players Peyton Jones Postcode Places Trust Pye Foundation

Qualcomm

R2R Maintenance and Fire Stopping Ltd Rotary Club of Cambridge Sawston Rotary Club of Cambridge South

SCOPE

SCOPE shop on Burleigh Street St Johns College, Cambridge St Mary's School, Cambridge Tesco – Groundworks Thriplow Daffodil Weekend The Leys School, Cambridge Unitarian Church Varrier Jones Foundation Waitrose Trumpington ...plus all other individuals, companies and supporters of Rowan.

Trustees report

Report and financial statements for the year ended 31 August 2023

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 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 agreed to designate £50,000 from reserves to be set against the future cost of repairing the roof, in the event that we are unable to fundraise the full amount.

The charity generated £599,679 (£477,253) in revenue which was a significant improvement on the previous year . Expenditure was £590,281 (£528, 973) leaving a modest surplus of £8,509 for the year. This compares favourably with last year's deficit of £57,653.

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 increased this year to £305,374 (£236,953) reflecTracie, s t ing a growth in service delivery. We are looking forward to a gradual increase inudent artist contract value as services expand and student artist numbers continue to grow.

• Sales of art for public and private commission, provision of evening and weekend community art classes and spaces for hire. Sales also increased this year. Evening classes recommenced as well as a new retail manager and woodwork tutor to complete commissions were appointed to good effect amounting to £27,606 (£9,948).

• Rental income generated £37,406 (£37,091).

Developing strong relationships with our corporate and community supporters.

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. In addition, there is a Fund of £50,000 designated to cover any shortfall in fundraising for the roof repair.

As of 31 August 2023 the unrestricted assets of Rowan (excluding property) were £309,912.

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 2023/2024 has been prepared to ensure Rowan remains a going concern.

Plans for future periods

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
Raise funds for the purposes of repairing the roof and proceeds with the work
Increase the size of the Board of Trustees and to 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 organisation through investment in staff 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

Structure, governance and management

Governing document

The charity is controlled by its governing document, a 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:

David McConnell (appointed 2 October 2019; appointed Chair November 2022) Ruth C Laslett (appointed 2 September 2008)

Jonathan Wilson (appointed 21 February 2019)

Ray Olds (appointed 2 October 2019) David Crabb (appointed 1 February 2023) Debby Lauder (appointed 1 February 2023) Ruth McGowan (appointed 27 January 2021, resigned 1 February 2023)

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.

Appointment of Trustees

Board appointments are rotated in accordance with the Memorandum & Articles 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 regular 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, Compass House Vision Park Histon Cambridge Cambridgeshire CB24 9AD.

Risk management

The Trustees have a risk management strategy, which comprises:

A bi-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 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 repairs to the building are a major concern, in particular the replacement of its roof and improvement to its environmental conditions which require significant investment. Financial stability also remains 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. A major fundraising drive is being developed to raise the funds to make the necessary repairs.

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 Trustees’ 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 (The Charities Statement of Recommended Practice)
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 a 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 governing document. 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 McConnel, Chair

Date: 15 April 2024

ROWAN HUMBERSTONE LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ROWAN HUMBERSTONE LIMITED I report lo the Iruslees on my examinallon of the finandal statements of Rowan Humberslone Llmlted (the chartyl for the year ended 31 August 2023. R•sponslbllltl•s and bajls ol r•port As the Iruslees ol the charity land also ils directors for the purposes of company lawl you are responsible for the preparation of the fi'nancial statements in accordance with the requirements of the Companies Act 2006 Ilhe 2006 Adl. Having satisfied myself that the financial slalemenls of the charity are not reguired lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect ol my examination ol the charity's financial statements Carried out under se¢lion 145 of the Chorilies Act 2011 Ilhe 2011 Act). In carrying out my examination I have followed all the appli¢able Directions given by the Charity Commission under section 1451511bl of the 2011 Act. Ind•p•ndont •xamln•r's ¥tJt•mont Sinett the charity's gross Incorne exceeded £250,000 your examiner musl be a member of a body Iisled in seelion 145 of the 2011 Act. I confirm that l am quallfied lo undertake the examination becauge l am a member of ICAEW, which is one of the listed bodies. I have eompleled my examinakn'on. I confirm that no mallèr$ have come lo my attention in ¢onn¢lion with th• examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charity as required by seellon 386 of the 2006 Act,. or the financial slalemenls do not accord with those records.. or the financial slalemenls do not comply with the accounting Tequiremenls of section 396 of the 2006 Aet other than any requirement that the ae¢ounls glve a true and fair view whieh 1$ not 8 matter considered as part of an independent examination.. or the financial slalemenls have not been Prepared in accordance with the methods and principles of the Slalemenl of Recommended Practice for accounting and reporting by charities applicable lo charities preparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other mallers in connection with th8 examination lo which attention Should be drawn in this report in order lo enable a proper understanding of the financial slalomenls lo be roa¢hed. Tr•c•y Rlch•rfson BSC IHon•l FCA V4bstpoSnt Lynch tOd P•t•threugh Cmbrfdg•thr• PE2 8FZ D*od'. 2024 -14-

00 UJ ff) &0 7J rO¢D 17) (Q OLn O ts) Ln (oor • ¢y OLn 0£ >

ROWAN HUMBERSTONE LIMITED BALANCE SHEET ASAT31 AUGUST2023 2023 2022 Notès Flxèd ass•ts Tangible assets Investment propety Investments 15 16 17 951.806 1,085,000 987.729 1,085,000 64,825 2,036,806 2,137,554 Current ass•ts Stocks Debtors Cash al bank and in hand 19 20 15,762 27,378 385,681 15,391 15,641 289,133 428,821 320,165 Crodltors: amounts falllng du• wlthln one year 21 120,2601 120,8611 Net current assets 408,561 299.304 Total asy•ts lèss currènt Ilabllltl•$ 2,445,367 2,436,858 Incom• funds Reslricled funds Unreslrieted funds- deslgnaled Unrestricted funds- general 22 23 98,649 2,228,806 119,912 55,805 2,262,730 118.323 2,445,367 2,436,858 -17-

ROWAN HUMBERSTONE LIMITED BALANCE SHEET ICONTINUED) ASAT31 AUGUST2023 The charity is enlilled lo the exemption frorn the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2023. No member of the charity has deposited a notice, pursuant lo section 476. requiring an audit ol these financial stslemenls. The Iruslees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial slalemenls which give a true and fair view ol the slate ol affairs ol the charity as al the end of the financial year and of ils incoming resources and application of resources, including ils income and expenditure, lor the financial year in accordance with the requirements of sections 394 and 395 and which olhetwise comply wlh the requirements of the Companies Act 2006 relatin9 10 financial slalemenls, so far as applicable to the charity. The members have not required the company lo obtain an audit of ils financial statements for the year in question in accordance with section 476. These financi81 stalemonls havo beèn preparèd In accordance with the provisions applicable lo Companies subject to the small companies regime. The financial statements were approved by the Trustees on 1510412024 Mrs R C Laslett Trust0• Mr D R Mcconnell Trust•• Company reglstratlon number 04448427 -18-

ROWAN HUMBERSTONE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Accounting policies Charity information Rowan Humberslone Limited is a private company limrted by guarantee incorporated in England and Wales. The re9lStered office is 40 Humberstone Road, Cambridge, CB4 1JG. United Kingdom. 1.1 Aceountlng conventlon The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and 'Accounling and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021. las amended for accounting periods commencing from 1 January 20161. The charity is a Public Benefit Enlily 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 lo prepare a Slalemenl ol Cash Flows. The financial slalemenls are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial slalemenls are rounded lo the nearest £. The financial slalernenls have been prepared under the historical eosl eonvenlion, modiifi'ed to include the include investment properties and certain financial instruments al fair value. The principal accounting policies adopted are set out below. 1.2 Golng Concgrn Al the lime of approving the financial slalemenls, the Iruslees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the Iruslees continue to adopt the going concern basis ol accounting in preparing the financial slalemenls. 1.3 Charltable funds Unreslricled funds are available for use al the discretion of the Iruslees in furtherance of their eharilable objectives unless the funds have been designated for other purposes. Where there is no donor reslriclion on donated funds. we will always avoid imposing a designation. Designated funds comprise funds which have been sel aside al the discretion of th8 Iruslees lor specific purposes. The purposes and uses ol the designated funds are sel out in the notes lo the financial slalemenls. Reslricled funds are subjed lo specifie conditions by donors as lo how they may be used. The purposes and uses of the restricted funds are sel out in the notes lo the fi'nancial slalements. 1.4 Income Income is recognised when the charity is legally entitled lo il after any performance conditions have been met, the amounts can be measured reliably, and il 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 lax recoverable in relation lo donations received under GiftAid or deeds of covenant is recognised at the lime of the donation. Legacies are re¢ognised on receipt or Otherwise if the charity has been notified of an impending dislribulion, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a conlingenl asset. -19-

ROWAN HUMBERSTONE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Accountlng pollclos IContlnu8dl Grant income is recognised in full on receipt unless there are unfulfilled performance conditions that do not allow the income lo be recognised. In this case the grant is accounted for as a liability until the performance conditions have been mel. Grant income is only deferred if the grant is lime-relaled and relates partly or wholly lo a post year-end lime period. The charity is not VAT registered. 1.$ Expendltur• Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity lo that expenditure, it is probable that a transfer of economic benefits will be required in selllemenl and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classifi'ed under headings that aggregate all cost related lo the category. Vvhere costs cannot be directly allribuled lo particular headings they have been allocated on a basis consislenl with the use of resources. 1.6 Tanglbl• flxod ass•ts Tangible fixed assets are initially measured al cost and subsequently measured al cost or valuation, nel of depreciation and any impairment losses. Depre¢ialion is recggnised so as 19 write off the co51 or volualion of a5se15 less their residual value5 Over their useful lives on the following bases.. Freehold buildin9S Plant and equipment Motor vehicles 20h on cost 25% on reducing balance 250/0 on reducing balance Land is not depreciated. The gain or loss arising on the disposal of an asset 1$ determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in nel incomellexpenditurel for the year. Items costing in excess of £500 and intended for use over more than one financial period are capilalised. 1.7 Inv•stm•nt prop•rty Investment property is shown al most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred lo a revaluation reserve. 1.8 Flxed assot Invostmgnts Fixed asset investments are initially measured al cost and subsequently measured al cost less any accumulated impairment losses. The investments are assessed for impairment al each reporting dale and any impairment losses or reversals of impairment losses are recognised immediately in nel incomellexpendilurel for the year. 1.9 Impairment of fixed assots Al each reporting end dale. the charity reviews the carrying amounts of ils tangible assets lo 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 lif anyl. -20-

ROWAN HUMBERSTONE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Accountlng pollclos IContlnu8dl 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 Incuired In bringing the stocks lo their piesenl location and condition. Items held for dislnbulion al no or nominal consideration are measured the lower of replacement cost and cost. Nel realisable value is the eslimaled selling price less all estimated costs of completion and costs lo be incurred in marketing, selling and distribution. 1.11 Cash and cash •qulval•nts Cash and cash equivalents include cash in hand. deposits held al call wlh banks. other short-lerm liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown thin borrowings in current liabilities. 1.12 Flnanclal Inslrumonts The charity has elected lo apply the provisions of Se¢lion 11 '8asi¢ Financial In$lrumen15' and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of ils financial inslrumenls. Finaneial instruments are recognised in the eharily's balance sheet when the charity beeomes party to the onlraclual provisions of the inslrumenl. Financial assets and liabilities are offset. with the nel amounts presented in the financial slatemenls. when there is a legally enforceable right lo sel off the recognised amounts and there is an intention 10 5ellle on a nel basis or lo realise the asset and settle the liability simultaneously. Baslc Ilnanclal assets Basic fi'nancial assets, which include debtors and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement conslilutes a financing Iransaclion, where the transaction 15 measured al the present value of the future receip15 discounted al a market rale ol interest. Financial assets Classified as receivable within one year are not amortised. Basie linancial liabilities Basic fi'nancial liabilities, including creditors and bank loans are initially recognised al transaction price unless the arrangement constitutes a fi'nancing transaction, where the debt instrument is measured al the present value of the fvlure payments discounted al a market rale of interest. Financial liabilities classified as payable thin one year are not amort15ed. Debt instruments are subsequently carried al amortised cost, using the effective interest rale method. Trade creditors are obligation5 to pay for goods or Services that have been acquired in the ordinary course of operations from supplier5. Amoun15 payable are classified as current liabilities if payment is due wthin one year or less. If not, they are presented as non<urrenl liabilities. Trade creditors are recognised initially at transaction price and subsequently measured al 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 Taxatlon The charity is exempl from corporation lax on ils charitable a¢tivrties. -21-

ROWAN HUMBERSTONE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Accountlng pollclos IContlnu8dl 1.14 Employèè b•n•flts Termination benefits are recognised immediately as an expense when the charity is demonstrably committed lo lerminale the employment of an employee or to provide lerminalion benefits. 1.15 Retlrement beneflts Payrnents lo defined contribution retirement benefrt schemes are charged as an expense as they fall due. Crltlcal accountlng estlmat•s and ludgoments In the application of the charity's accounting policies. the Iruslees are required lo make judgements. eslimales and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The eslimales and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these eslimales. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting eslimales 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 eurrenl and futurè periods. -22-

ROWAN HUMBERSTONE LIMtrED NOTES TO THE Ftr4ANCL4L STATEAIENTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 27,6Lkl 305,374 238,953 332,980 248,901 tund• 9•n•rnl 2023 lund• q•n•rnl 37.40 37,091 Iwm• fr(xn lil•d Irbtwwl r••t4• 3.340 2,412 40,755 40,387 fvnd• lund• ••n•rnl 2023 &il g•ln on (li1pd of t•Nlbl• rd M••ts 1,338 479 -24-

ROWAN HUMBERSTONE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Charilablg acliviti8$ 2023 2022 Staff costs Depreciation and impairment Subscriptions Stock movement Subsistence Studio and projeet costs Staff training and other costs Motor expenses Postage, slalionery, printing and IT costs COVID-19 Sludenl support costs Bank ¢harges Premises costs Maintenance costs 298,312 29,451 290 13711 5,989 15,884 3,223 2,158 11,886 259,589 31.413 1,063 14,1931 2.608 11,636 2,033 2.404 15,977 497 1,450 30,863 18,684 2,231 27,792 13,468 410,313 374,024 Share of support costs Isee note 91 Share of governan¢e ¢osls Isee note 91 43,339 29,173 25,131 41,573 482,825 440,728 Analysls by fund Unreslricled funds- general Unreslri¢ted funds- designated Restricted funds 320,812 29,451 132,562 271,302 31,413 138,013 482,825 440,728 -26-

ROWAN HUMBERSTONE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Support costs Support Governance costs Costs 2023 Support Governance costs costs 2022 Staff costs Legal fee5 Independent examiner's fees 43,339 43,339 8,102 25,131 25,131 22,353 8,102 22,353 21,071 21,071 19,220 19,220 43,339 29,173 72,512 25,131 41,573 66,704 Analysed between Charitable activities 43,339 29,173 72,512 25,131 41,573 66,704 10 Trusleos None of the trustees lor any persons connected wlh them) received any remuneration or benefi'ts from the charity during the year. There were no Iruslees, expenses paid for the year12022- £nill. 11 Employ••s The average monthly number of employees during the year way.. 2023 Numbor 2022 Numbor 29 23 Employfflont costs 2023 2022 Wdges and salanes Social security costs Other pension costs 373,686 24,491 18,880 317,200 16,045 14,674 417,057 347,919 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 2023 12 Other Unrostrictad funds deslgnated 2023 Total 2022 Nel loss on disposal of tangible fixed assets 3,976 13 N•t galnsllloss•$l on Inv•stm•nts Unr8strl¢t•d Unr8strSet•d funds funds 98n•ral goneral 2023 2022 Gainlllossl on sale of investments 18891 15,9331 14 Taxatlon The charity is exempl from lax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxalionol Chargeable Gains Act 1992 to the exlenl that these are applied lo ils charitable objects. 15 Tanglbl• flx•d ass•ts Fr••hold bulldlng$ Plant and Motor ¥•hlcl•s •qulpm•nt Tot•1 Cost Al 1 September 2022 Additions Disposals 1,105,322 85,542 3.667 129,4141 13,975 1,204,839 3,667 143,4351 11,2461 112,7751 Al 31 August 2023 1,104,078 59.795 1,200 1,165,071 D•proclatlon and Impalmiont Al 1 September 2022 Depreciation ¢harged in the year Eliminated in respect of disposals 148,612 22,108 11731 56.242 7.166 121,5111 12,255 177 111,6111 217,109 29,451 133,2951 At 31 August 2023 170,547 41,897 821 213,265 Carrylng amount At 31 August 2023 933.529 17,898 379 951.806 Al 31 August 2022 956,710 29,299 1,720 987,729 -28-

ROWAN HUMBERSTONE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 16 Investment property 2023 Fair value Al 1 September 2022 and 31 August 2023 1,085.000 The investment property is the part of the charity property that is let out, being approximately 300A of the building. 11 has been valued on an open market basis al 31 August 2022 by Pocock & Shaw. The Iruslees 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 2023 17 Flxod as$ot Investments Llstèd Invèstm•nts Cost or valuatlon At 1 September 2022 Disposals 64,825 164,8251 Al 31 August 2023 Carrylng amount Al 31 August 2023 Al 31 August 2022 64,825 18 Flnanclal Instrum•nts 2023 2022 Carrylng amount of flnanclal ass•ts Debt instruments measured al CDSI.. Trade debtors Other debtors Bank and cash 27,378 7,134 385,681 2e9,133 Measured at cost 413,059 298,267 Equity instruments measured al lair value.. Fixed asset investments 64,825 Measured al fair value 64,825 Carrylng amount of flnanclal Ilabllltl•s Other laxalion and social security Trade creditors Accruals 5,076 4,823 7,405 5,455 7,435 5,403 Measured at cost 17,304 18,293 19 Stock5 2023 2022 Work in progress 15,762 15,391 -30-

ROWAN HUMBERSTONE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 20 Dobtors 2023 2022 Amounts falling due within ono year: Trade debtors Prepayments and accrued incorne 27,378 6,553 9,088 27,378 15,641 21 Cradltors: amounts falllng duo wlthln one y•ir 2023 2022 Other taxation and social security Trade creditors Other Creditors Aceruals and deferred ineome 5,078 4,823 2,956 7,405 5,455 7,435 2,568 5,403 20,260 20,861 -31-

cooo 00 omo ooiryo O ¢D ff> In r (TJ ffj- C O ) C 2 L) S C w u (/) (É ¢/)

c< a) OJ

ooN 00¢ o rfj ¢t4 rOU> 88-8*8 00(0 oui 171 ¢0 O Iri ro ¢D r VJ TJ D 7J TJ u li li Li Li IL 3Ja

(M oroo 010m (Ti fD (TJ o m¢0 P4 owr ry) (D C Cu

ROWAN HUMBERSTONE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 25 Related party transactions Romuneratlon of kgy managoment Porsonnol The remuneration of key managernenl personnel is as follow5. 2023 2022 Aggregate compensation 85,118 44,664 -36-

Rowan Humberstone Ltd 40 Humberstone Road Cambridge, CB4 1JG

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

@RowanCambridge

@RowanCambridge Rowan

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

Contents