The Roche Court Educational Trust Annual Report and Financial Ststements Year Ended 31 July 2024 Chanty registration number. 1109279
The Roche Court Educational Trust Contents (continued) Trustees Report 1to4 Statement of Trustee5' Re5ponsibiltbe5 Independent Examinevs Report Statement of Financial A¢tNitses BalanGe Sheet Notes to the Financial Statements 9t016
The Roche Court Educational Trust Trustees Report Introduction The purpose of the Annual Report is to report on the actNities of The Roche Court Educational Trust for the months August 2023-July 2024, in accordan with the requirements of the Statement of Recommended Practice 'Accounting and Reporting by Charities. . Charities SORP (FRS102 1A). Background The Roche Court Educational Trust is a registered charity, registratÉon number 1109279. established by Trust Deed on 7 April 2005. The Twstees are: Anne Beckwith-smith (Chair) (reSned April 2024) Madeleine Countess of Bessborough Robert Boyle (resigned April 2024) William Grant Charlie Ponsonby {resigned April 2024) Lucy Salisbury (resigned December 2023) Rhoderirk Voremberg (resigned Novetnber 2024) Olivia Watharn Emma Goltz Objectlves and actlvltles Objects and aim5 The objects of The Roche Court Educational Trust. as set out in the Trust Deed, are to; i) Promote the education of the public conceming fine art. sculpture and to educate children and young persons about the same whether such works of art are on display at Roche Court or otherwise; ii) Promote the education of children and young persons by the provision of advice and guidance in relation to careers in the arts to enable them to reach their full potential and prepare them for working life., iii} Such other charitable Purposes as the trustees shall from time to time detemine. The trustees have reviewed the Trust's acb'vrties and confimi that they meet the guidance given by the Chanty Commission regarding Public Benefit In this report you will find details of ways in which the Trust has met these aims. Page 1
The Roche Court Educational Trust Trustees Report (continued) Financial review The accounts show an income of £2,919 {2023.' -£,5374). The charity received incoming resources totalling £70,035 {2023.. £110,288) for the period. The charity received £26,872 (2023.. £32,800) from charitsble activities. £42,788 (2023: £77.271) from donations and legacies, and £375 (2023.. £217) from investment income. Expendf(ure in the period totalled £67,11612023.' £115,662). Policy on reserves The Charity's policy is to aim to keep reserves at approximately £3.000. Structure. governance and management Organisational structure At the start of the financial year the organization structure was The Head of Leaming undertakes the day-to4ay running of the education programme at Roche Court. supported by the Learning projects manag•r. A team of nina trainad fr88lanc• educators with diff8rant areas of specialisms within tho field of education support as required, particularly in the provision of visits, workshops, and specialist projects. Trustees are appointed by resolution of the trustees. On 31st March 2024, due to financlal pressures, a major downscaling of the Trust was undertaken. The Trust is run by one part-time seK- employed administrator and one part-time self*mployed book-keeper. A small leam of freelance educators continue to support as required. The wsrts and workshops have been tailored to suit the financial capabilty of the Trust and the relian on funding from Reslricted Donations has been scaled down. OveNiew of the year August 2023-July 2024 Dunng ihis academic year. VFSrts and workshops Y children. young people and lrfelong learners (the mainslay of our programmel. We worked with 1657 participants (4450 in year end August 2023), and with the support of grants and awards, we engaged many groups from areas of high deprivation. Grants from the following Trusts and Foundations enabled us to offer subsidised visits to 2 primary and 12 secondary schools, 1 Special Educational Needs settings, 4 Further Education establishments. A £15,000 grant was received trom Robert Hiscox Foundation on 31 st January 2023 {which was acknowledged in last years accounts) and this was to be used over 3 years. £10,000 was included in restricted funds and this accounting year made use of the 2nd tranche of £5,000 and £5,000 has been carried forward to next accounting year end July 2025 in restricted reseNes for the 3rd tranche. . The JP Marland Charitable Trust £2.000 Grants from indtvidual donors supported us in reengaging children and young peopFe with direct experience5 of the arts. by contributing toward the running costs of our interactive tours and workshops at Roche Court Sculpture Park, where we are based. During the year we were grateful to receive funding from the following: . Lady Madeleine Bessborough Uas New Art Centre £20,000 . Mrs E Len Fu £5,000 Page 2
The Roche Court Educational Trust Trustees Report (continued) Review of AGtivities At the Roche Court Educational Trust we aim to continue to encourage confidence and creativity. enhancing the capacity of all who visit us to Look, Think and Speak about art. There are many children and young people who, for social, physical. psychological or economic reasons, may never experience the potentially lrfe-changing effect of the arts. This is further compounded by the marginalisation of arts subjects overall within the current curriculum. Wrf(h a small but dedicated team of arts educators, we deliver opportunrties to expenence art first-hand, through trusted partnerships with artists, schools, teachers and specialist groups. We raise funds through a scheme of Friends, Benefactors and interested individuals, along with sponsofShip from Trusts and Foundations. Also. we can raise ndS by placing collection box8s (both physical and contactless) at the entrance of our host gallery The New Art Centre, encouraging visitors to the Sculpture Park and Gallery to make a donation to the Educational Trust. We received a total of £7,262 from these donation boxes this financial year. Participation ststistics In the period 1 st August 202> 31st July 2024. we worked directy with 1657 participants. Welcomed to the sculpture Park: . 50 schools, colleges, and unp4eTSities 16 ad and specialist groups 9 home educating groups We organised: . 14 famity workshops during school holidays We took part in: 1 Careers event • 3 off-site sessions in Special Schoolslchiklren's Hospices None of our work is free - the costs are covered by a nominal fee paid by participants and by awards from funding applications. which enable us to subsidise fees where necessary. Our aim is to reach out to those who may otherwise never have an opportunrty to visit a Sculptu park. During this academic year, we managed to ensure that 570A of the schools we welcomed were from the state-mainlained Sector. Onllne Provlslon The focus in our small leam continued to be bringing groups back to the sculpture park. as we passionately believe that having a Irve experience of art is integral to feel passionate about it. Howevcr, we stayed connected to our audience online, by producin9: Page 3
The Roche Court Educational Trust Trustees Report (continued) . 8 e-newsletter5 that were sent to 845 teachers and families. . Related social media posts on FaboOk, which had a reach of 379 followers Regular Instagram posts showcasing our creative acknVtis, with an increase in followers throughout the year to 2098 We were able to produce 1 final episode of our digital podcast 'Listen in at Roche Court,, thanks to funding from the Arts Society to work with young people from Andover. We built on the model developed during project delivery funded by RSA Catalyst seed and scaling funding during 2020-2023 (an initiative to support pilot proje¢ts that address Stxial changel. 'A' level and Foundation Diploma Students from Andover College interviewed artist Jacob van der Beugel, in an episode centered on his solo show 'Wherever the Two Shall Meet, at the New Art Centre. The students participated in two research visits, and a wrtual tour of the artist's studio, developing a wide-ranging set of questions to prompt an in4epth conversation with the artist. The resutting episTrle has had 81 listens. and the podcast now celebrates 1.350 downloads overall. Another reason to celebrate this episode was that it was headed up by Georgie, a Deaf student, who was the overall winner of 'Articulation', the National GallerS public speaking prize for young people, in 2023. The National Gallery have recently shared her recent success wrth the podcast in their newsletter. The episode fascinating listen and can found https.'Ilw•i.rochecourteducationaltrust.co.uklpodcast. The podcast V11 remain an ongoing digital resourGe. The podcast will remain an ongoing digital resource, to be accessed through the website of the New Art Centre, which will continue to welcome wsrtor5 and run special events to which Educational Trust beneficiaries wll be invf(ed to subscribe. Partnership projects: We continued as a partner gallery on the National Galle$ Articulation Project. This national public speaking initiative started here at Roche Court in 2006, and this year we delivered two Discovery Days, for state-maintained schools to develop their public speaking skills and be introduced to the project. We also hosted two regional heats, adjudicated by the very Revd Robert Willis, Dean Emeritus of Canterbury. We focused on our CO offer of welcoming groups to the sculpture park this year, supporting groups of all ages to look, think and speak atK)Ut art. Since the Charty began in 2005, we have welcomed over 57,000 visitors, and we are very proud that we encouraged them all to have the confidence to look, think and speak about arL The New Art Centre remains open lo visitors. and we hope that our beneficiaries will return to the Sculpture Park to tske part in special events, visit exhibitj'ons and enjoy the unique environment of Roche Court. The annual report was approved by the Trustees of the Charity on .13.1iz.ILW and signed on its behalf by.. Madeleine Countess of Bessborough (Chair) Trustee Page 4
The Roche Court Educational Trust Statement of Trustees, Responsibilities The Trustees are responsible for preparing the Trustees. report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities requires the Trustees to prepare financial ststement5 for each financial year which give a true and fair wew of the state of affairs of the Charity and of the incoming resources and application of resources of the Chanty for that perioj. In preparing these financial statements. the Trustees are required to.. select suitable accounting policies and then apply them consistentty.. observe the methods and principles in the Chariknes SORP; make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008. and the provisions of Ihe Gon5tilutioll. The Tru51ee5 ale a150 iesponsible for safeguarding Ihe assets of the Chanty and hen for taking reasonable steps for the prevention and detection of fraud and other irregularits'es. The Trustees are responsible for the Maintenan and integrtty of the corporate and financial infomiation included on the charitable companls website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Approved by the Trustees of the Chaiity on i&lLK.l¥ and signed on its behalf by. Mad•l•ina Countess o Trustee Bessboroug ( Page 5
The Roche Court Educational Trust Independent Examiner's Report to the trustees of The Roche Court Educational Trust I report to the Trustees on my examination of the accounts of The Roche Court Educational Trust for the year ended 31 July 2024. Responsibilities and basis of report As the Chanty Trustees of The Roche Court Educational Trust you are responsible for the preparation of the accounts in a¢¢ordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the The Roche Court Educational Trusys accounts carried out under section 145 of the 2011 Act and in carying Olrt my examination I have followed all the applicable Directions given by the Chanty Ccffnmission under section 145{5)(b) of the Act. Basis of independent examine$ report My examination was carried out in accordance with the general Directions given by the Charity Commission. An exarnination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented wth those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedure5 undertaken do not provide all the evidence that would be required in an audit and consequentiy no opinion is given as to whether the accounts present a rue and fair viev/ and the report is limtied to those matters set out in the next ststement. Independent examinerfs statement I have completed my examination. I confinn that no material matters have come to my attention in connection with the examination grIng me cause to believe th8t in any m8terial respect.. 1. accounling records were not kepi in respect of The Roche Court Educational Trust as required by section 130 of the Act,. or 2. the accounts do not accord wtth those records.. or 3. the accounts do not comply with the accounting requirements conmIng the fomi and content of accounts sel out in the Ch<irities (Accounts and Reports) Re9ulalions 2008 other Ihan any requirement that the accounts give a 'true and fair which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection wth the examinalion to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. VJ Dawn Peattie ACA CTA Francis Clark LLP Hitchcock House Hilltop Park Devizes Road Salisbury SP3 4UF Date:.. l(L?.I i.LJ.LQ..l.LÈ. Page 6
The Roche Court Educational Trust Statement of Financial Activities Year Ended 31 July 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Total 2024 Unrestricted Restricted Note Income and Endowments from: Donations and legacies Charitable activities Investment income 40.788 26.872 375 2.000 42,788 26,872 375 Total Income 68,035 2,000 70,035 Expenditure on: Charitable activities Other expenditure (38,461) (12,618) (5,597) (10,440) (44,058) 23,058) Total Expenditure Net movement in funds 51,079) 16,037 67.116 16.956 {14,037) 2,919 Reconciliation of funds Totsl funds brought forward Total funds carried forward 14.848 19,037 4,189 7,108 13 2.108 5,000 Total 2023 Unrestricted Restricted Note Income and Endowments from: Donations and legacies Charitable activitie5 Investment income 38.921 32,800 217 38,350 77,271 32,800 217 Total Income 71,938 38,350 110,288 Expenditu on: Charitable activities Other expenditure (74.9391 (14,3591 (9.007) (17,357) (83,946) (31,716} Total Expenditure (89.298) (26,364) (115,662 Nel movement in funds (17.360) 11.986 (5,3741 Reconciliation of funds Total funds brought forward 2,512 7,051 9,563 Total funds carried forward 13 {14.848) 19,037 4,189 The notes on pages 9 to 16 form an integral part of these financial statements. Page 7
The Roche Court Educational Trust Balance Sheet 31 July 2024 2024 2023 Note Current assets Debtors Cash at bank and in hand 11 2,208 7,426 9.634 7,292 33,067 40,359 Creditors: Amounts falling due within one year Net assets 12 (2,526) 7,108 36,170 4,189 Funds of the Charity: Restrlcted Income funds Restricted funds 13 5,000 19,037 Unrestricted income funds Unrestricted funds 2.108 {14,848) Total funds 13 7.108 4.189 The financ.al statements on pages 7 to 16 were approved by the Tnjstees, and authorised for issue Madeleine Countess of Bessborough (Chair) Trustee The notes on pages 9 to 16 fomi an irtegral part of these financial statements. Page 8
The Roche Court Educational Trust Notes to the Financial Statements Year Ended 31 July 2024 1 Accounting pollcles ststement of compliance The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and R8public of Ir812nd (FRS 102) and the Charities Act 2011. Basis of preparation The Roche Court Educational Trust tneets the definitiotj of a public benefit entily under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. Going concern The Trustees consider that there are no material uncertainties about the ChariVS abilty to continue as a going concern. Income and endowments Voluntary inGome including donations, gifts, legacies and grants that provide Gore funding or are of a general nature is recognised when the Charity has entitlement to the income, it is probable that the income will be received and the amount can be measured wth sufficient reliabilty. Donations and legacies Donations and legacies are recognised on a r1Vable basis when receipt is probable and the smount can be reliabty measured. Donated sern-c8s and facllities Where services or facilities are provided to the Chanty as a donation that vrfould normalty be purchased from our suppliers, this benefit is included in the financial statements at its fair value unless its fair value cannot be reliabty measured, then at the cost to the donor or the resale value of goods that are to be sold. Gift aid Incoming resources from tax reclaims are included in the Statement of Financial Actrvities at the same time as the gift to which they relate. Expenditure All expenditure is recognised once there is a al or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliabty. All costs are allocated to the applicable expendrture heading that aggregate similar costs to that category. Where costs cannot be direclly attributed lo particular headings they have been allor2ted on a basis consistent with the use of resources, with central staff costs all¢xated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Page 9
The Roche Court Educational Trust Notes to the Financial Statements Year Ended 31 July 2024 (continued) Charitable activities Charttable expenditure comprises those costs incurred by the Chanty in the delivery of its actiwties and services for its beneficianes. It includes bolh costs Ihat can be allocated directty to such actiwties and those costs of an indirect nature necessary to support them. Taxation The Chanty 15 Considered to pass the tests set out in Paragraph 1 Schedule G of the Finance AGt 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentialty exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusively to charttable purposes. Tangible fixed assets Individual fixed assets are inrtially recorded at cost, less any subsequent accumulated depreciation and subs@quent accumulated Impainnt losses. Amortisation Amortisation is provided on intangible fixed assets so as to wrrte off the cost, less any estimated residual value. over their expected useful economic lrfe as follows.. Assot class Website development Amortisation method and rato 2 year straight line Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to Write off the cost or valuation, less any estimated residual value, over their expected useful economic lrfe as follows.. Asset class Off5ce equipment Depreciation method and rate 3 years straight line Trade debtors Trade debtors are amount5 due from customer5 for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interesl method. less provision for impairment. A provision for the impairment is established when there is objectrve evidence that they will not be able to collect all amounts due according to the original tenns of the receivables. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-lerm highly liquid investments that are readily convertible to a known arnount of cash and are subject to an insignfficant nsk of change in value. Page 10
The Roche Court Educational Trust Notes to the Financial Statements Year Ended 31 July 2024 (continued) Trade creditors Trade creditors are obligations to psy for gt)nds or seN1(S that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if there is not an unconditional right, at the end of the reporting peri¢)d, to defer settlement of the creditor for at least te1ve months after the reporting date. If there is an unconditional right to defer settlement for at least tMelve months after the reporting date, they are presented as non-current liabilities. Trade creditor5 are recognised initially at the transaction price and subsequendy measured at amortised cost using the effective interest meth(NJ. Fund structure Unrestricted income funds are general funds that are available for use at the Trustees discretion in furtherance of the objectNes of th8 Chartty. Restricted income funds are those donated for use in a particular area or for specrfic purposes, th use of which is restricted to that area or purpose. Financial instruments Classrfication Financial assets and financial liabilities are recognised when the Charity becomès a party to the contractual provisions of the instrument. Financial liabilities and equity instrument5 are classified according to the substance of the contradual arrangements entered into. An equty instrument is any contract that evidences a residual interest in the assets of the Charity after deducting all of its liabilities. Recognition and measurement All financial assets and liabilities are initialty measured at transaction price (including transaction costs). except for those financial assets classified as at fair value through profit or loss, which are initialty measured at fair value (which is nonnally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constrtutes a financing transaction, the financial asset or financial liabilty is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets and liabiltties are onty offset in the statement of financial position when, and only when, there exisls a legally enfoiceable ii9hl lo sel off the reGognised amounts and the Charty intends either to settle on a net basis, or to realise the asset and settle the liability simultaneousty. Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled. b) the Charity transfers to another paty substantially all of the ri¥K¥ £irid rewards of owne15hip of the financial asset, or cl the Charty. despite havlng retained some, but not all, signfficant risks and rewards of ownership, has transferred control of the asset to another paty. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. Page11
The Roche Court Educational Trust Notes to the Financial Statements Year Ended 31 July 2024 (continued) 2 Income from donations and legacies Unrestricted Total 2024 Total 2023 General Restricted Donations and legacies". Donations from individuals Grants, including capttal grants" Grants from Foundations I Trusts 40,788 40.788 38,921 2,000 2,000 38,350 40.788 2.000 42.788 77,271 3 Income from charitable activities Unrestricted funds GenÈral Total 2024 Total 2023 Schoovgroup vlslts Friends and Benefactors 19.997 6.875 19.997 6,875 22,196 10,604 26.872 26,872 32.800 4 Investment income Unrestricted Total 2024 Total 2023 General Interest receivable and similar income. Interest receivable on bank deposits 375 375 217 5 Expenditure on charitable activities Unrestricted funds General Restricted funds Total 2024 Total 2023 Education staff costs 38,481 5,597 44.058 83,946 Page 12
The Roche Court Educational Trust Notes to the Financial Statements Year Ended 31 July 2024 (continued) 6 Other expenditure Unrestricted funds General Restricted funds Total 2024 Total 2023 Note Depreciation. amortisation and other similar costs Other resources expended 559 12,618 10,440 23,058 31,157 12,618 10.440 23,058 31,716 7 Trustees remuneration and expenses Paid employees The Trust has no employees, the staff costs shown within these accounts are the costs of services provided by New Art Centre Sculpture Park and Gallery employees which are recharged to the Trust. 8 Independent examinees remuneration 2024 2023 Other fees to examiners Examination-related assurance services 1,200 1,200 Page 13
The Roche Court Educational Trust Notes to the Financial Statements Year Ended 31 July 2024 (continued) 9 Intangible fixed assets other intangible asset Total Cost At 1 August 2023 5,292 5,292 At 31 July 2024 5.292 5,292 Amortisation At 1 August 2023 At 31 July 2024 Net book value 5,292 5,292 5,292 5,292 At 31 July 2024 At 31 July 2023 10 Tangible fixed assets Computer equipment Total Cost At 1 Augu8t 2023 1,679 1,679 At 31 July 2024 1,679 1,679 Depreciation At 1 August 2023 1,679 1.679 At 31 July 2024 1,679 1,679 Net book value At 31 July 2024 At 31 July 2023 Page 14
The Roche Court Educational Trust Notes to the Financial Statements Year Ended 31 July 2024 (continued) 11 Debtors 2024 2023 Trade debtors Prepayrnents 1,319 889 6,402 890 2.208 7,292 12 Creditors: amounts falling due within one year 2024 2023 Trade creditors Accruals 1,249 1,277 2,526 34,892 1.278 36,170 13 Funds Balance at 1 August 2023 Incoming resources Resources Balance at 31 axponded July 2024 Unrestricted funds General General (14,848} 68,035 (51,079) 2,108 Restricted funds Restricted funds 19,037 2,000 (16,037) s,000 Total funds 4.189 70.035 67,116) 7,108 Balance at 1 August 2022 Incoming resources Resources Balance at 31 expended July 2023 Unrestricted funds General General 2,512 71.938 (89,298> (14,848) Restricted Restricted funds 7.051 38,350 (28,384> 19,037 Total funds 9.563 110.288 115.662 4,189 Page 15
The Roche Court Educational Trust Notes to the Financial Statements Year Ended 31 July 2024 (continued) 14 Anatysis of net assets between funds Unrestricted funds General Total funds at31 July 2024 Restricted funds Current assets Current liabilities 4.634 2,526 5.000 9.634 2,526 Total net assets 2,108 5,000 7,108 Unrestricted funds General Total funds at 31 July 2023 Restricted funds Current assets Current liabiltties 21,322 36,170 19,037 40,359 36.170 Total net assets 14.848 19,037 4,189 15 Analysis of net funds At 1 August 2023 Financing cash flows At 31 July 2024 Cash at bank and in hand 33,067 125,641) 25.641 7,426 Net debt 7.426 16 Related party transactlons There were no related party transactions in the year. Page 16