DocuSign Envelope ID: 566535D8-0CA0-4611-B749-16DD86A806B9
Charity number: 1115435
THE ROWNEY TRUST
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
DocuSign Envelope ID: 566535D8-0CA0-4611-B749-16DD86A806B9
THE ROWNEY TRUST
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 - 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 13 |
DocuSign Envelope ID: 566535D8-0CA0-4611-B749-16DD86A806B9
THE ROWNEY TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2023
| Trustees | Charles Edward Samuel Whitbread |
|---|---|
| Jane Elizabeth Whitbread | |
| Edward Crispin Akers Martineau (resigned 22 June 2023) Samuel David Whitbread (appointed 22 June 2023) |
|
| Charity registered number 1115435 Principal office Southill Park Biggleswade Bedfordshire SG18 9LL Independent examiner Christopher Bagnall FCA Grant Thornton UK LLP Chartered Accountants 1 Holly St Sheffield S1 2GT Bankers Barclays Bank Plc Bowater House 68 Knightsbridge London SW1X 7LW |
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DocuSign Envelope ID: 566535D8-0CA0-4611-B749-16DD86A806B9
THE ROWNEY TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2023
The trustees present their report together with the financial statements of The Rowney Trust (the charity) for the year ended 5 April 2023. The trustees confirm that the trustees' report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Objectives and activities
a. Policies and objectives
The objectives of the charity are for such general charitable purpose or purposes as the trustees shall from time to time in their absolute discretion determine.
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and setting the grant making policy for the year.
It is not the intention of the trustees to raise funds for the charity from the public.
b. Grant making policies
The charity makes charitable grants, but does not often make grants to charities with which the trustees are not already acquainted personally.
Achievements and performance
a. Review of activities and financial review
During the year the trust continued to support a number of local charities and causes in areas in which the trustees are interested.
The attached financial statements give details of the financial transactions in the year and the financial position of the charity at the year end.
The grants made during the year amounting to £173,875 (2022 - £101,925) have continued to fulfil the charity's objectives.
There was a net deficit for the year amounting to £3,715 (2022 - net income of £5,558).
Other policies
a. Going concern
The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity has confirmed that it has adequate cash resources for at least the next 12 months following the signing of these accounts and for this reason they continue to adopt the going concern basis in preparing the financial statements.
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DocuSign Envelope ID: 566535D8-0CA0-4611-B749-16DD86A806B9
THE ROWNEY TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023
b. Reserves policy
The trustees look to retain sufficient cash reserves as they consider necessary to respond to requests for grants. The trustees are keen to support the current level of grant aid being achieved by the charity and are looking to fund that principally from voluntary income.
At 5 April 2023 the reserves total £55,588 (2022: £59,303).
c. Principal funding
The trustees are satisfied that the Trust's assets are available and adequate to fulfil its obligations.
Structure, governance and management
a. Constitution
The Rowney Trust is an unincorporated charity established under a Trust Deed dated 27 June 2006. It was registered as a charity on 19 July 2006.
The trustees throughout the year and as at 5 April 2023 were as follows:
Charles Edward Samuel Whitbread Jane Elizabeth Whitbread Edward Crispin Akers Martineau
After the year end on 22 June 2023, Edward Crispin Akers Martineau retired from the charity as a trustee, and Samuel David Whitbread was appointed.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
c. Risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
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DocuSign Envelope ID: 566535D8-0CA0-4611-B749-16DD86A806B9
THE ROWNEY TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023
Trustees' Responsibilities Statement
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and regulations.
The Charities Act 2011 requires the trustees to prepare financial statements for each financial year. The trustees have to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. The trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgements and accounting estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Charles Edward Samuel Whitbread Trustee Date: 18 January 2024
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DocuSign Envelope ID: 566535D8-0CA0-4611-B749-16DD86A806B9
THE ROWNEY TRUST
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2023
Independent Examiner's Report to the Trustees of The Rowney Trust ('the Charity')
I report on the accounts of The Rowney Trust for the year ended 5 April 2023 which are set out on pages 7 to 13.
Your attention is drawn to the fact that the charity's trustees have prepared the charity's accounts in accordance with the Statement of Recommended Practice '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) (effective 1 January 2019) issued in October 2019 in preference to the Statement of Recommended Practice 'Accounting and Reporting by Charities: Statement of Recommended Practice (revised 2005)' issued in April 2005 which is referred to in the Charities (Accounts and Reports) Regulations 2008 but has been withdrawn. I understand that the charity's trustees have done this in order for the charity's accounts to give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.
This report is made solely to the charity's trustees, as a body, in accordance with the regulations made under section 154 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work, for this report, or for the opinions I have formed.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act 2011;
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follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011; and
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state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a comparison of the accounts with the accounting records kept by the charity. 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 procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below.
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DocuSign Envelope ID: 566535D8-0CA0-4611-B749-16DD86A806B9
THE ROWNEY TRUST
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023
Independent examiner's statement
In connection with my examination, no matters have come to my attention:
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which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act 2011;
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to prepare accounts which accord with the accounting records;
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to comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Report) Regulations 2008
have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed: Dated: 24/1/2024
Christopher Bagnall FCA Grant Thornton UK LLP Chartered Accountants Sheffield
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DocuSign Envelope ID: 566535D8-0CA0-4611-B749-16DD86A806B9
THE ROWNEY TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023
| Note Income from: Donations 2 Total income Expenditure on: Charitable activities: 3 Grants Support costs Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2023 £ 172,200 172,200 173,875 2,040 175,915 (3,715) 59,303 (3,715) 55,588 |
Total funds 2023 £ 172,200 172,200 173,875 2,040 175,915 (3,715) 59,303 (3,715) 55,588 |
Total funds 2022 £ 112,523 |
|---|---|---|---|
| 112,523 | |||
| 101,925 5,040 |
|||
| 106,965 | |||
| 5,558 | |||
| 53,745 5,558 |
|||
| 59,303 |
All activities relate to continuing operations.
The notes on pages 9 to 13 form part of these financial statements.
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DocuSign Envelope ID: 566535D8-0CA0-4611-B749-16DD86A806B9
THE ROWNEY TRUST
BALANCE SHEET AS AT 5 APRIL 2023
| Note Current assets Debtors 6 Cash at bank and in hand Creditors: amounts falling due within one year 7 Net current assets Total net assets Charity funds Unrestricted funds Total funds |
56,250 1,378 57,628 (2,040) |
2023 £ 55,588 55,588 55,588 55,588 |
22,500 40,253 62,753 (3,450) |
2022 £ 59,303 |
|---|---|---|---|---|
| 59,303 | ||||
| 59,303 | ||||
| 59,303 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Charles Edward Samuel Whitbread
Trustee Date: 18 January 2024
The notes on pages 9 to 13 form part of these financial statements.
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DocuSign Envelope ID: 566535D8-0CA0-4611-B749-16DD86A806B9
THE ROWNEY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Rowney Trust meets the definition of a public benefit entity under FRS 102.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are presented in Sterling (£).
1.2 Going concern
The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity has confirmed that it has adequate cash resources for at least the next 12 months following the signing of these accounts and for this reason they continue to adopt the going concern basis in preparing the financial statements.
1.3 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
1.4 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
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DocuSign Envelope ID: 566535D8-0CA0-4611-B749-16DD86A806B9
THE ROWNEY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
1. Accounting policies (continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
1.6 Debtors
Debtors are recognised at the settlement amount after any discount offered.
1.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
1.9 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
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THE ROWNEY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
2. Income from donations and legacies
| Unrestricted funds 2023 £ Donations 172,200 Total 2022 112,523 |
Total funds 2023 £ 172,200 112,523 |
Total funds 2022 £ 112,523 |
|---|---|---|
3. Charitable expenditure
| Grants payable Total 2022 |
Grants to Institutions 2023 £ 173,875 101,925 |
Total funds 2023 £ 173,875 101,925 |
Total funds 2022 £ 101,925 |
|---|---|---|---|
In 2023 and 2022 all grants were expenditure from unrestricted funds.
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DocuSign Envelope ID: 566535D8-0CA0-4611-B749-16DD86A806B9
THE ROWNEY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
3. Charitable expenditure (continued)
An analysis of the grants to institutions made in the year is as follows:
| Name of institution King's Arms Trust The Stewards' Trust Fauna & Flora International Hope into Action UK King's Arms Church TileHouse Counselling The Filling Station Steyning Downland Scheme East Anglian Air Ambulance Operation Mobilisation St Luke's Healthcare for the Clergy Waterberg Welfare Society Trust SAT-7 UK Magpas Air Ambulance Tearfund St Albans Cathedral Education Trust The Friends of H.O.P.E Free to be Kids Other grants < £5,000 |
2023 £ 22,000 - 30,000 15,000 24,000 5,000 6,000 15,000 5,000 7,000 15,000 - 5,000 5,000 - 5,000 - 5,000 9,875 173,875 |
2022 £ 12,000 15,000 - - 24,000 - 6,000 - 5,000 7,000 - 5,000 5,000 5,000 5,000 - 5,000 - 7,925 |
|---|---|---|
| 101,925 |
| 4. | Support costs | ||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Accountancy | 2,040 | 5,040 |
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DocuSign Envelope ID: 566535D8-0CA0-4611-B749-16DD86A806B9
THE ROWNEY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
5. Payments to trustees and employees
No trustees, who are the key management personnel, or persons with a family or business connection with a trustee, received remuneration in the year, directly or indirectly, from the charity (2022 - £nil).
No expenses were reimbursed to the trustees during the year (2022 - none).
There were no employees of the charity during the year (2022 - none).
6. Debtors
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Tax recoverable | 56,250 | 22,500 |
7. Creditors: Amounts falling due within one year
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Accruals | 2,040 | 3,450 |
8. Related party transactions
During the year donations amounting to £138,450 (2022 - £90,000) were received from Charles Edward Samuel Whitbread, a trustee of the charity.
During the year grants amounting to £325 (2022 - £325) were paid to Schoolreaders. Jane Elizabeth Whitbread is a trustee of Schoolreaders.
During the year, no grants (2022 - £5,000) were paid to Waterberg Welfare Society Trust. Jane Elizabeth Whitbread is a trustee of Waterberg Welfare Society Trust.
During the year grants amounting to £15,000 (2022 - £nil) were paid to St Luke's Healthcare for the Clergy. Edward Crispin Akers Martineau is a trustee of St Luke's Healthcare for the Clergy.
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