Charity Registration No. 1105523
Company Registrab'on No. 5040258 (England and Wales)
RSA TRUST
A COMPANY LIMITED BY GUARANTEE
TRUSTEES REPORT AND ACCOUNTS
for the year ended
31 March 2024
Taylor Associates
Chartered Accountants and Registered Auditors

RSA TRUST
A COMPANY LIMITED BY GUARANTEE
Legal and Administrative Information
Trustees
Mrm P Hayes
Mr M F Jewell MBE
Mr M A Polledri MBE
Dr R M Taylor
Mr G J Walker
Mr R P Weeks
Secretary
MrARay
Charity number
1105523
Company number
5040258
Principal address
RSA Island Centre
12 Island Centre Way
Enfield
Middlesex
EN3 6GS
Registered office
12 Island Centre Way
Enfield
Middlesex
EN3 6GS
Auditors
Taylor Associates
1 st Floor
Gallery Court
28 Arcadia Avenue
London
N3 2FG
Bankers
Barclays Bank PIC
North East London Group
PO Box 2403
London
N182BY
Solicitors
f<ussell Cooke LLP
2 Putney Hill
Putney
London
SW15 6AB

RSA TRUST
A COMPANY LIMITED BY GUARANTEE
Contents
Page
Trustees report
Statement of trustees. responsibilities
Independent auditors, report
Statement of financial activities
Balance sheet
Notes to the arLounts
10-12

RSA TRUST
A COMPANY LIMITED BY GUARANTEE
Trustees, Report
For the year ended 31 March 2024
The Trustees, who are also directors of the charity for the purposes of the Companies
Act, present their report and audited financial statements for the year ended
31" March 2024. The charity is a company limited by guarantee and was incorporated
on 101h February 2004. It is governed by a Memorandum and Articles of Association.
Trustees
The following trustees had held office since 1st April 2023:
M P Hayes
M F Jewell MBE
M A Polledri MBE
R M Taylor
G J Walker
R P Weeks
resigned 12th October 2024 and reappointed
th
resigned 12 October 2024 and reappointed
Structure, Governance and Management
The Trustees annually consider RSA Trust's structure, governance, and management.
They have indicated they will be available for the current term.
Dr Hani Armstrong remains in post as CEO of the RSA Trust reporting to the Trustees.
Active recruitment of trustees is also taking place. Patrick Gray also remains in post as
Heritage Manager.
Objectives and activities for the public benefit
The principal objectives of the Trust are as follows:
(a) To provide or assist in the provision of facilities in the interest of social welfare for
individuals who have need of such facilrties by reason of their youth, age,
infirmity or disability, financial hardship. or social circumstances with the object of
improving their conditions of life.
(b) The relief of unemployment in such ways as shall be thought fit including
assistan￿ to find employment.
(c) The advancement of education, particularly, but not exclusively through the
provision and maintenance of a museum or other educational centre.
(d) The relief of poverty. sickness, and distress.
(e) The preservation and restoration of buildings of constructional, architeGtural, or
historical interest.
(fj Such other charÉtable purposes as the Trustees shall determine.
During the fiscal year the main Projects identified for support were:
Inspiring Women and small business support provided by Enterprise Enfield.
Enact Youth Club serving Enfield Island Village
Nightingale Can￿[ Support Centre

RSA TRUST
A COMPANY LIMITED BY GUARANTEE
Trustees, Report
For the year ended 31 March 2024
Edmonton Eagles Amateur Boxing Club
Villa Scalabrini a registered care home.
Enfield Citizens Advice Bureau
Sponsorship of the Enfield Island interpretation centre and Maintenan￿ of
historic artefacts
Financial review
Policy on distributing funds-
The Trust receives funding from RSAIV Ltd at the end of its financial year. This funding
is then utiltzed in the follow financial year after appropriate deduction for items requiring
funding in future periods which is carried fo￿ard. The Trustees will not approve and
commit to projects unless funding is certain.
The Accounts as of 31" March 2024 show fund balances of £1,080,000, an increase of
approx. £100,000 on last year's fund balances. The fund balance includes a donation
from RSA Island Village Ltd {RSA IV) of £520,000 made at the year end.
The RSA Trust has received a donation from the Metaswitch Employee Benefit Trust
(MEBT) of £300,000. £225,000 is restricted funds to be given to Enfield Island Youth &
Community Trust (enact) over a three year period of £75,000 each year starting in the
202412025 financial year. This donation is to further support young people on Enfield
Island Village and the surrounding area. The remaining £75,000 is for the RSA Trust in
the 202412025 financial year to fund the objectives of the Trust. This MEBT donation is a
very generous donation to the funds of RSA Trust and enact and all the Trustees wish to
record their appreciation.
The Trustees understand it is RSA Iv's current policy to continue to support RSA Trust
and any such donation will be advised in March of each year. Net overheads were
£29,000 which remain at only 70/0 of incoming resources.
Since inception, RSA Trust has supported projectslgrant funding to the local community
of £8.2m which underpins the exemplary model created some years ago with the
dedication and help of my co-Trustees.
RSA Trnst Grants during year ending 31st March
2024
Children, Young People and Families
Business Initiatives
Selected Charities
RegenerationlHeritage
Sundry Initiatives
£197,875
£137,747
£42,200
£22,6
£8.302
£408.820

RSA TRUST
A COMPANY LIMITED BY GUARANTEE
Trustees, Report
For the year ended 31 March 2024
£22,696
£8,302
14)7.&7
Chtldren, Young People and Families
Busine55 Initi3tives
Selected Charities
RegenerationlHeritaEe
Sundry Initiatives
Reserves policy
The Trust is reliant on the continued support of RSA Island Village Ltd (RSA IV) to fund
its activities. As the annual grant is received just before the financial year end it is
essential for the Trust to maintain adequate reseples to fund ongoing commitments.
The Trustees regularly review the level of reserves to ensure they are sufficient to
maintain operational continuity, especially in current economic condrtions where
charitable funding is under pressure.

RSA TRUST
A COMPANY LIMITED BY GUARANTEE
Trustees, Report
For the year ended 31 March 2024
Plans for future periods
The key objectives are to ensure: _
Continuity of the Board of Trustees. The Trustees have indicated their willingness to
provide their skills and commitment for a further period of 3 years, subject to the Articles.
This continues to be reviewed annually.
Consider which good causes to support that rn￿t with RSA Trust Objectives in line with
available funding.
Ensure approved projects once inttiated are monitored until they become operational
and then sustainable and provide worthy outputs, acknowledging that the projects may
roll over into one or rnore financial years.
Auditors
A resolution proposing Taylor Associates be re-appointed as auditors of the charity will
be put to the nexi Trustees Meeting.

RSA TRUST
A COMPANY LIMITED BY GUARANTEE
Statement of Trustees. Responsibilities
The trustees who also the directors of RSA TRUST for the purposes of company law, are
responsible for preparing the financial statements in accordan￿ with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare accounts for each financial year which give a true and
fair view of the state of affairs of the RSA Trust and of the incoming resources and application of
resources, including the income and expenditure, of the charitable company for that year.
In preparing those financial statements. the trustees are required to:
select suitable accounting policies and then apply them consistently..
observe the methods and principles in the Charib'es SORP;
make judgements and estimates that are reasonable and prudent.,
prepare the accounts on the going concern basis unless it is inappropriate to presume that the
RSA Trust will conts'nue in operation.
The trustees are responsible for keeping proper accounts'ng records that disclose with reasonable
accuracy at any time the financial position of the RSA Trust and enable them to ensure that the
accounts comply with the Companies Act 2006. They are also responsible for safeguarding the
assets of the RSA Trust and hence for taking reasonable steps for the prevention and detection of
fraud and other irregularities.
Statement of disclosure of infomiation to auditors
So far as the directors are aware, there is no relevant audit information of which the company's
auditors are unaware. Additionally, the directors have taken all the necessary steps that they ought
to have taken as directors. in order to make themselves aware of all relevant audit information and
to establish that the company's auditors are aware of that information.
This report has been prepared in accordance with the special provisions relating to small companies
within Part 15 of the Companies Act 2006.
On behalf of the board
G.J. Walker
Chairman of Trustee
6 December 2024

RSA TRUST
A COMPANY LIMITED BY GUARANTEE
Independent Auditors. Report
to the Members of RSA TRUST
Opinion
We have a￿lled the finan￿al statements of RSA Trust for the year end￿ 31 March 2024 which comprise the income and eypendilure
account, balan￿ sheet and notes lo t1￿ financial stslemenls. including signrficant accounb.ng poliese5. The finanual reporting framework
that has been applied in their preparation is applicab￿ law United Kingdom Accounting Standards, induding Finaneial Reporting
standard 102 The Financial Rep)rting Standard applicable in UK arKI Republ￿ of IrelarKI {Unrted Kirodom Generalfy AC￿pted
Accounting PraCts￿l.
In our ¢)pinion the financial statements..
gNe a true and fair ￿leW of the slate of Charitab￿ Company's affairs as at 31 March 2024, and of ils in¢omirrfJ
resources and application ol resoufces, including its income and exFenditure, for th2 year then ended,.
have been properfy prepared in accordance wlh United Kingdom Generally Accepted Accounting Practi￿.. and
have been prepargj in ac¢ordance with the requirements of the Companies Act 2C(6.
Basls for opinion
We conducted our audit in accordance with lnlemab.onal Standards on AudilirKJ IUKI {ISAs IUKII and applicable law. Our responsibilities
under those starKlards are further descrited in the audrtor responsibilibes for the aLKlii of the financial statements section of our report. We
are independent of the chaTltable company in accordance with the ethvl requirements that a￿ relevant to our audit of the financial
stslements in the UK, including the FRC'S Ethical Standard. and we have fuffilled our other ethical responsibilit￿S in accordan￿ with these
r8quiremen15. We bel￿e that the audit evK4ence we have obtained is Suff￿lent aThJ aroropriale to prow'de a basis for our opinion.
Conclusions relating to going concern
In audrting the financial slatemenls, we have conduded that the tnjslees, vse of the goir¥J COn￿M basis of accounlirg in the preparation of
the financial statements is appI￿riale.
Based on the work we have perfomed, we have not identsftd any material Uncertaint￿ relating lo events or condf(ions that, indiwdually or
collectively, may cast significant doubl on the charrt*)le companls a￿.1￿ lo continue as a goirKJ con￿rn for a period of al least twelve
months from when the financial statements are aulhorised for Issue.
Our responsibilf(ies and the ￿sponSI1x.]it￿s of the IrLStees wilh respect to g(Mng con￿￿ a￿ described in the relevant section$ of this
report.
Other information
The other infomats'on comprises the infomiation included in the trustees annual report. othèr than the financial slalements and our auditols
report thereon. The trustees are re5pJnsible for the other irfft)mab"on contained within the annual report. Our opinion on the financial
statements does not cover the other informatK)n and, except lo the extent olherwise eyplicitly staled in our report, we do not express any
fom of assurance conclusion ihereon. Our responsibility is lo read the other infomalion and. in doir#J so. consider whether the other
infomiation is materially inconsistent ￿th the financial slatemer¢ts or our knowwge obtained in the cOu￿e of the audit or olheThvise appears
lo be materially misstated. If we idenlrfy such material inconsistencvas or apparent material misstatements. we are
required to detemine whether this gives ￿se to a material misstslemenl in the finanaal statements themselves. If. based on the WO￿ we
have perfomed, we conclude that there is a material misslatemenl of this other informat￿n. we are required to report that fact.
We have nothing to report in thi5 regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the aLKIrt.'
the infomialion given in trust*s' report for Ihe finanual year for wh￿￿ the financial statements are prepared
is consistent with the financial statements", and
the directors. report has teen prepared in accordan￿ with a￿￿le legal Tequirwnents.
Matters or) which we are required to rgport by exception
In the light of the knowledge and Ur￿rstsnding of ts charitable company atm1 its environmenl ¢￿taIn￿j in the course of the audit. we have
not idenlrfied material misslalements in the Tru5tee5' report or direclors, report.
We have nothing lo rekx)rt in respect of fdlwng matter5 in Fetation to whth the Companies Act requires us to report to
you rf in our opinion..
adequate accounting Tecords have ￿t been kept. or retums adequate for our aydit have not been received from
branches not visited by u5.. or
the financial statements are not in agreement with the accountir¥J recor(ts and retums.. or
certain dtscloSu￿S of directors. remuneration SFecrf*d by Jaw are not made.. or
we have not received all the infornalion and explanations require for our audrt . or
Ihe trustees were not entitled to prepare the finanual slalemenls in a¢cordance with the small companies, regime

RSA TRUST
A COMPANY LIMITED BY GUARANTEE
Independent Auditors. Report
to the Members of RSA TRUST
Responsibilities of trustees
As explained more fully in the trustees, responsibilities statement Set out on page S. the Irusiees (who are atso the directOTS of the charitable
ccmpany for the purposes ol company lawl are responsible for the Preparation of the financial statements aThJ for being satisfied that they
gi)ft a true and fair Mew, and for such intemal control as the trustee5 determine is necessary lo enable the preparation of financial
stslements that are free from material misstatemenL whetspr due lo fraLkl or error.
In preparing the financial stslements, the Injslees are responsible for assessing the charitable company's abilty lo conlinue as a going
On￿M. disclosing, as applicable, matters related lo going concern and using the going contsm basis of accountir#J unkss the trustees
either intend to Iiquhdate the Charitab￿ ¢ompany or lo cease ¢werations. or have no realistic aiiernative bLrt lo do so.
Auditor responsibilities for the audit of the financial statements
Our objectives are lo obtain reasonabk assuiance about whether the financ￿1 stat￿ents as a whole are free from material misstsbment,
whether due lo fraud or error, and to issue an 8￿lt0rfS report that incl¢hJes our ¢)pinion. Reasonable assurance is a high level of assurance.
but is not a guarantee that an audrt coThJucted in accordan￿ with ISAS IUKI will a￿y5 delect a material mis51alement when rt exists.
Misstatements can arise from fraud or error and are wnsidered material rf, indmdually or in the aggregate, they could reasonably be
expected to infiuen¢e the economic de¢lsic￿S of users taken on the basis of these financial slalements.
Irre9ularities, includiThJ fraud, are instanos of non-complian￿ with laws aThJ reguiakn"ons. We de5NJn proC￿lureS in line with our
responsibilities, outlined above, lo delect material misstatements in ospect of irregularib'es, indLbJing fraud. The extenl to which our
procedures are capable of detecting Irregularitw, induding fraLKI is detsil&J below..
Identrfies and assesses the risks of material misstatement of the entiws fina￿la1 statements, whether due to fraud or error. designs and
performs audit proc8Jures respon51ve lo those risk5, and obtsins audit eviden￿ that is sufficient and appropriate to provide a basis for the
audilorfs opinion. The risk of not detectin9 a material misststemenl resulting fTom fratjd is higher than for one resulting from error, as fraud
may involve collusion, forgery. intentional ￿￿slon5, misrepresentations. or the 0￿rrKI9 of intemal control.
ErM4uiry of management, those ¢harged with 90￿ManCe around aclL&al arKI rKJlential lrtigab.on and claims.
Reviewng minutes of meets.ngs of those charyed with govemance.
Reviewing financial statement dks¢1osu￿S and testiNJ to SUPForbrvJ dc£umentabon to assess compliance with applicable laws and
regulations.
Auditing the risk of management override of controls, indudiro through tesb.ng joumal entries and other adjustments for appropriateness.
and evaluating the business rationa￿ of significant 1ransacb.ons outside the nomial course of business
A further description of our responsibilit￿5 is available on the FR¢s website at'https".II%￿.frc.Dr9.u￿J
auditors laudil-assurancelauditor-s-responsibililies-for-1he-audrt-of-the-fildescription-of-t￿aUdrtor
%E2%8O%99$-￿$p0nSibIllties-fOr. This ¢Jes¢riplion foms part of our auditorfs retK)rt
Usè of our rgport
This report is made SO￿lY to the charitable company$ members. as a tx*Jy, in accorda￿ with Chapter 3 of Part 16 of the Companies Act
2006. Our audit work ha5 been undertaken so that we might state lo the charitab5e company's member5 those matters we are requifed to
stsle lo them in an auditorfs report and for no other purpose. To fLtllesl extent pemitted by law. we do not ac￿p1 or assume
responsibility to anyone other than the charitable company and the charitable ccwnpany s members as a bryjy, for OUT audit worfK, for this
report, or for the opinions we have forned.
Mr Peter Taylor (Senlor Statutory Auditor
for and on behall of Taylcff Ass(xiates
Chartered Accountants
ststutory Auditor
10 December 2024

RSA TRUST
A COMPANY LIMITED BY GUARANTEE
Statement of Financial Activities
including income and expenditure account
for the year ended 31 March 2024
Notes
2024
2023
Incomin
resources from
Donations and Gifts
Investment Income
enerated funds
520,000
8,885
528,885
550,000
1,082
551,082
Resources ex
ended
Charitable activities
Grants Payable
RSA Heritage Project
Management and administration
376,124
22.696
29,455
385,745
21,673
36,210
Total resources expended
428,275
443,628
Income for the year
Net movement in funds
100.610
107,454
Fund balances at 1 April 2023
979,821
872,367
Fund balances at 31 March 2024
1.080,431
979,821
The statement of financial activities also complies V¥ith the requirements for an
income and expenditure account under the Companies Act 2006.

RSA TRUST
A COMPANY LIMITED BY GUARANTEE
Balance Sheet
as at 31 March 2024
Notes
2024
2023
Current assets
Debtors
Cash at bank and in hand
13,312
1,388,793
1,402,105
4,000
988,972
992,972
Creditors: amounts falling due
within one year
(321,674)
(13,151)
Net current assets
1,080,431
979,821
Net assets
1.080.431
979,821
Capital and reserves
Profit and loss account
1,080,431
979,821
Total Funds
1,080,431
979,821
The accounts were approved by the
oard on 6 De￿mber 2024
Mr G.J. Walker
Trustee
Company Regis
on No. 5040258

RSA TRUST
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
1.1 Basis of preparation
The financial statements have been prepared under the historical cost convention.
The charity has availed itseff of Paragraph 3 (3) of Schedule 4 of the Companies Act and adapted the
Companies Act format5 to reflect the special nature of the charity's activities.
The accounts have been prepared in accordance wrth applicable accounting standards, the statement of
Recommended Practice, "Accounting and Reports"ng by Charits'es" FRS 102. issued in February 2016 and the
Companies Act 2006.
1.2 Incoming resources
All incoming resources are induded in the SOFA when the charty is legally entitled to the income and the
amount can be quantified with reasonable accuracy.
Donated facilities are included at the value to the charity Whe￿ this can be quantified and a third paty is
bearing the cost. No amounts are included in the financial statements for services donated by volunteers.
1.3 Resources expended
All expenditure is accounted for on an accruals basis and has been classffied under headings that aggregate
all costs related to the ¢ategory.Where costs cannot be directly attributed to particular headings they have
been allocated to activities on a basis consistent wth use of the resources. Management and administration
costs are those incurred in connection with the administration of the charity and compliance with constrtutional
and statutory requirements.
1.4 Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreoation. Depreciation is provided at rates calculated to write
off the cost less estimated residual value of each asset over its expected useful lrfe, as follows..
Plant and machinery
Fixtures, fittings and equipment
25% straight line
25 % straight line
1.5 Company status
The charity is a company limited by guarantee. The membets of the company are the trustees named on the
legal and administrative page of these financial ststements. In Ihe event of the charity being wound up, the
liability in respect of the guarantee is limited to £1 per member of the charty.
1.6 Fund accounting
Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherants of the
general objectives of the charity and which have not been designated for other purposes.
10

RSA TRUST
Notes to the Accounts
for the year ended 31 March 2024
2 Donations and Gifts
2024
2023
Grants receivable for core activities
520,000
550,000
Grant received of £520,000 from RSA Island Village Limited on 25 March 2024.
During the year the Trust received £300,000 from the Metaswitch Employee Benefrt Trust as a restricted
donation. The amount is shown as deferred income and will be rel&%ed to revenue in future years.
3 Other income
2024
2023
Inveslment income
Interest receivable
8.885
1,082
8,885
1,082
4 Total resources expended
Stsff costs Other costs
2024
2023
Charitable expenditure
Grants payable
RSA heritage project
Management and administration
2.925
11.731
18.257
373.199
10,965
11,198
376.124
22.696
29.455
385.745
21,673
36,210
32,913
395,362
428,275
443.628
Other costs include..
Audilors remuneration comprises audit fee of £6.000 (2023 .' £6,000).
Rent for the year was £19,249 (2023". £20.148).
5 Employees
The company had one full time employee. The Chanty recharges other companies the appropriate proportion
of lime spent on it's affairs by r(s employees.
2024
2023
Wages and salaries
S¢xial security costs
Pension costs
11,585
11.945
1.862
13,807
13,551
11

RSA TRUST
Notes to the Accounts
for the year ended 31 March 2024
6 Debtors
2024
2023
Other debtors
Prepayments and accrued income
8,312
5,000
13,312
4,000
4,000
7 Creditors: amounts falling due within one year
2024
2023
Other taxes and social secunty costs
Other creditors
Accruals
Deferred income
1.193
7,641
12,840
300,000
321,674
1,122
989
11.040
13,151
Deferred income represents a restricted donation from Metaswtich Employee Benefit Twst IMEBT) of which
£75,000 will be released to RSA Trust as general income in the next financial year. The remaining £225,000 is
ring fenced for release to Enfield Island Youth and Community Trust in equal tranche5 over the corning 3
years.
8 Contlngent Ilabilltles
There are no ¢ontingent liabilities to the knowledge of the directors.
9 Related party transactions
Five Trustees are members and directors of RSA Island Village Ltd. The Trust paid RSA Island Village
Limited, the landlord, a market rent and service dwrge of £25,09812023.' £25,844) and building insurance of
£495 (2023.. £417) for premises occupied by the Trust.
During the year the twst made a grant of £21.200 to Villa Scalabrini, a charity in which one of the trustees. Mr
Polledri. is also a trustee.
RSA Island Village Limited is currentty the primary source of fijnding for the Trust.
12

RSA TRUST
Schedule to the Profit and Loss Account
for the year ended 31 March 2024
for the information of the tnistees only
2024
2023
Incoming resources from generdted funds
Donations and Gifts
Interest receivable
520,000
8,885
528,885
550.000
1,082
551,082
Grants Payable
RSA heritage project
Administrative expenses
General administrative expenses..
Bank charges
Insurance
Printing, postage and stats"onery
Rent and service charges
Repairs and maintenance
Wages and salaries
Pension costs
staff training & welfare
Sundry expenses
Telephone and internet
Travel and subsistence
Utilities
Recharged expenses
376,124
22,696
385,745
21,673
55
1.399
80
1,785
240
21,223
144
11,945
1,862
4,450
263
1,383
1,200
1.377
{17,542
28,410
20,379
432
11,585
1.966
127
1,417
750
2,135
(18,590)
21,655
Legal and professional costs:
Audit fees
Accountancy fees
6,000
1,800
7,800
6,000
1,800
7,800
29,455
36,210
13