Charlty Commlsslon Number..
1116849
THE ROWSE FAMILY TRUST
ANNUAL REPORT AND FINANCIAL STATEMENTS
For the year ended 31 January 2023

THE ROWSE FAMILY TRUST
ANNUAL REPORT AND FINANCIAL STATEMENTS
For the year ended 31 January 2023
CONTENTS
For the year ended 31 January 2023
Pages
Report of the Trustees
113
Independent Examine¢s Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
7111

THE ROWSE FAMILY TRUST
REPORT OF THE TRUSTEES
LEGAL AND ADMINISTRATIVE INFORMATION
As at 31 January 2023
REGISTERED CHARITY NUMBER: 1116849
TRUSTEES".
The Trustees who served during the year were."-
Mr. Richard Rowse
Mr. 8rian Butcher
Mr. Michael McAllister
PRINCIPAL ADDRESS
4 St. Mary's Court
Wallingford
Oxfordshire
OX10 OEB
ADVISORS:
Bankers:
Barclays Bank plc
2 Churchill Place
Canary Wharf
London
E145RB
Inve8tm8nt Advisors:
Epoch Wealth Management
Queen Square House
Queen Square Place
Bath
BA12LL
Accountant:
BDO LLP
2 Blagrave Street
Reading
RG1 1AZ
Independent Examlnor:
Vale & West A¢countsn¢y SeNlces Ltd
Victoria House
26 Queen Victoria Street
Reading
RG11TG

THE ROWSE FAMILY TRUST
REPORT OF THE TRUSTEES
For the year ended 31 January 2023
The Trustees of The Rowse Famity Trust (th¢ Twusfi prgsenl their report together with the Finaneial Statements for
thè y8aT endad 31 January 2023. Thè Financial Statements have been p￿Pared rn a￿0rd￿nGe with thg ar￿untIng
poli￿e5 sel oul in note 2 to the Financial Statements and compty VAlh thè Charitys Twst Deed. the Charities Act
2011 and the Accounting and Reporting by Charilie8.' Statement of Recommended Praclice applicable to charities
p￿partn9 Ihelr o¢counls In accordan¢e wlh the Financial Reporting Standard appllcabte in the UK and Republic of
Ireland (FRS 102) (effective l January 2022).
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Trust is an un1ncorp0tal￿ trust, Gonsliluled under a Tru8t Deed dated 30 October 2008 8nd is 8 registergd
eh8rity. numbèr 1116849. The Trust does not actively fundraise and seeks lo Gunti￿e the philanthropic work
desired by the settk￿$ through careful stewardship of its Èxisting réS0￿ces.
In accordance wtth the Trust Deed. the TTus1 shall appoint no more than five Trusteés. •ach Truste8 IS appointed
by r•solullc>n of the Trustees and each Trustee is ap￿Inted lo offi¢e for life ¥ubiect to their ability to continue to
perform their dutie$.
The Trustees meet 8t r8gular intÈrv8ls to dis¢u$s inveslmenl strategy. the making of grants and tho Eunning of the
Ttust gen0[al￿. The Trustees who served during the period and sinc8 thè priod ènd Ère set out on page 1.
RISK MANAGEMENT
The Trustee8 have considered the major risks to whSch the Ghaty 1$ exposed and have reviÈwed those risks and
established systems and procedures to man8gè those tisks. The Trustees considervariability of investmenl returns
on Ihe Ttusl's portfolio of securities lo constitute the Trust's major risk 8nd mèèt th8ir investrnent rnanagers at
rÈgular intervals to review investment performance and Gash flow n￿nageMent.
OBJECTIVES AND ACTMTIES
Th8 Trust Is a grant making charity and the capital and income of the Trust shall be applied for s￿h ch81itablÈ
purpose8 as Ihe trustees in their absolute discretion shall rJecide. The Trustee3 confirm that they have referred to
the Charity Commissions guSdance on Public Benefrt when reviewng Ihe Trusrs ains 2nd objectives 8nd in
plaming fuiure ￿tivi11e$ and setting grant making policy.
GRANT MAKING POLICY
The TnJstèe8 Meet regularfy to discuss the maknng of donations and grawts but do nol invite un5011￿ted granl
applications.
ACHIEVEMENTS AND PERFORMANCE
During thè pèriod thè Truil made donations and grants of £274.750 (2022: £256,250) lo various iegislgred
charitable organisations. A list of the grants made is shown tn note 4. This takes the lotal of donations and ￿ants
madB slnce the Twstwa$ formed Io ju81 over £4.1)m.
FINANCIAL REVIEW
The trust receNed donations during thè yè8r of £52,03812022= È65.538). The ongoing wnapal source of Income
11 be th8 F)Ortfolio of investments which had a market value of £4.298.986 as at 31 January 2023 12022:
£4,600,105). Given th8 naturè ol the Tru81'9 8ssets tt is anticipated that grants will continue al a similar level in tho
lulure.
INVESTMENT POUCY AND PERFORMANCE
Epoch Wèalth Man8geTnenl are appointed to oversee the inveslment strategy of Ihe Trust and to monitor and
manage the three ffijnd managers (8r8wn Dolphin, Ruffèr and Bn)oks Macdonald). The Trustees, inveslment policy
is to maintain an average risk profile seeking investment opportunities which gi￿ thÈ bÈst lolxl ielurn. The
Investment Manager is not reQU￿ed to a(l)ere lo ￿Y other inve81ment re8lriclions.

THE ROWSE FAMILY TRUST
REPORT OF THE TRUSTEES
For the year ended 31 January 2023
RESERVES POLICY
The Trustees are aware of the requirement of the Charity Commissioners to review their policy on reserv85 at
regular intervals and it is current policy to distribute an arnount at le85t equal to all incoming resources less
investment management and govemance costs.
The charity only holds unrestricted funds. At the year end there were £3,960,855 (2022.. £4,237,111) unrestricte
reserves.
PLANS FOR THE FUTURE
The Trustees plan lo contlnLte ￿1h the current investment and grant making policies.
PUBLIC BENEFIT
The Twstees confirni they have complied with their duty in SeC￿On 17{5} of the Charmes Act 2011 to have due
regard to the Public Benefit guidance published by the Charity Commission.
TRUSTEES. REPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS
The law applicable to charities in Fngland and Wales require5 the Trustees lo prepare Financial Statements for
each financial year which give a true and fair view of the Trust's financial activities during the year and of its
financial position at the end of the year. In preparing Financial Statements giving a twe and fair view, the Twstees
should follow best practice and..-
select suitable accounting policies and then appty them consistenuy;
make judgements and eS￿MateS that are reasonable and prudent.,
stal8 wh81her applicable accounting standards and statements of recommended practice have been
followed, subject to any departures disclosed and explained in the Financial Statements., and
prepare the Financial Statements on the going ¢on¢em basis unless it is inappropriate to presume that
the Twst will wntinue in operations.
The Trustees are responsible for keeping accounting re￿r￿S which disclose with reasonable accuracy the
financial position of the Trust and which enable them to ascertain the financial position of the Trust and which
enable them lo ensure that the Financial Statements comply with the Charities Act 2011, the Charity (Financial
Statsments and Repottsl Regulation8 and the provisions of the Trust Deed. Th8 Trustees are responsible for
safeguarding the assets of the Trust and hence for taking reasonable steps for the prevents'Dn and detsGtion of
fraud and other irregularities.
Approved by the Trustees on >1: 1 I...￿.34... 2023 and signed on their behalf by'.-
Rlchard R
Tmsteo

Indgpendent Examlnerfs Report to the Trustees of
THE ROWSE FAMILY TRUST
I report on the accounts of the Rowse Famity Trust for the ye8r ended 31 jarK￿ry 2023, which are set oui on pages 5 10
11.
This repctrt Is made solely to the charity$ trustees. as a body, In accordance with Regulation 31 of the Chatitles (Accounts
and Report81 Regulations 2008. My work has been undertaken so that I mlght slate lo the charity's trustees those matter8 1
am required to state to them in an independent examlnerfs report arKI for no other purpose. To the fullest extent pem)itted
by law, I do nol accept or assume responsibiThty to anyone other than the charitys trustees as a body, for my work. for
report, or forthe statement I have made.
Rgspon$lbllltl08 and basis for report
As the charity Iruslees you are responsible for the preparation of the ac￿unt$ in accordance wlth the requlrements of the
Charities 2011 Act llhe Actl.
I report In respect of my examination ol the chaTtys accounts carrieil out under sedion 145 of the 2011 AGt and Sn carrylng
out my examination I have followed all the applThblo Directions gNen by the Charity Commission under section 145lS>lbl of
the ACL
Independent examlner's statement
I have completed my examination. I confimi that no material matters have ￿me to my attenliDn in connEction with the
examination giving me cause to believe:
aeeounting rewrds were not kept in respect of the Trust as required by section 130 of the Act" or
the a￿￿nts do nol accord wlh those records" or
the acGounts do n(* comply with the applicab18 requrements conceming the form and o)ntenl of the accounts
OLrt in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts
give a'lrue and fair view, which is not a matt8r considered as part of an independent examination. or
the accounts have nol been prepared in accordance with the methods and principles of the Statement of
Recommended PractÈce for accounting and rewrbng by charities applicable lo charities weparing their
accounts in accLwdance with the Fi￿¢￿31 Reporting Standard appllcable in the UK and Republic of Ireland
{FRS 102).
I have no concerns and have come across no other matters In connection with the examinalion to whlch attentlon should be
drawn in this report in order lo enable a proper understanding of the accounts 19 be reathed.
Lq-
Lee Gardner
Independent Examlner
Vale & Vvest AC￿Untan¢Y Services Ltd
Ch8rtér￿d Accountants
House
26 Queen Victoria Street
Reading. RG1 1TG
21 December 2023

THE ROWSE FAMILY TRUST
STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 31 January 2023
Unrestricted
Funds
2023
Unrestrfcted
Funds
2022
Notes
INCOME FROM
t)onations
52.038
65,538
Investment Income
Interest Received
Investrnent Income
1,362
68,793
65,094
Totsl Income
122,193
130,632
EXPENDITURE ON
Charitabl¢ A¢tiviti¢s:
Grants to Organisations
Governance costs
Independent examination fee
274,750
5,978
1,470
282,196
256,250
6,250
1,494
263,994
Ralsing Funds:
Inve5trnent fees and bank Charges
40,567
45,473
Total Expenditurn
322,763
309,467
Realise*S and Unrealised Investment {LossesllGains
(75,6861
320,198
Net {Expendlture}Ilncome
Balance Brought Fo￿ard at 1 F8bruary 2022
{276,2561
4,237,111
141,363
4,095,748
Balance Carrfed Forward at 31 January 2023
3,960,855
4,237,111

THE ROWSE FAMILY TRUST
BALANCE SHEET AT 31 JANUARY 2023
2023
2022
FIXED ASSETS
Investments
4,298.986
4.600.105
CURRENT ASs￿s
otheT debtors
Cash at Bank
169.185
202.276
169.185
202,276
CREDITORS:
Amounts falllng due within on8 year
Loans
Other creditors
A¢cruals
499,596
551.226
6.600
7.444
7,720
507,316
565,270
NET CURRENT LIABILITES
(338.131)
(362,994)
NET ASSETS
3,960.855
4.237.111
FUNDS
UnrestrKted Funds
3,960,855
4,237,111
3.960.855
4,237.111
Approved by the Trustees on .
2023 and signed on their behaif by:
Rl¢hard Rowse
Twstee

THE ROWSE FAMILY TRUST
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
For the year ended 31 January 2023
GENERAL INFORMATION
The Rowse Family Trust is an unincorporated trust, constituted under a Trust Deed dated 30 October
2006 and is a registered charity, number 1116849.
The financial statements are prepared in pounds steding {£) and the figures are rounded to the
nearest £.
AccouiifiNG POLICIES
Basls of Accounting
The financial 5tratements are prepared under Ihe historical cost convention as modified by the
inclusion of investments at market value. The financial statements are prepared in accordanGe wth
the Statement of Recommended Pra¢tice'. Accounting and Reporting by Charities preparing their
accounts in a¢¢ordance with the Financial Reporting Standard applicable in the United Kingdom an
Republic of Ireland IFRS 1021 and the Fin8nci81 Reporting Standard applicable in the United
Klngdom and Republic of Ireland (FRS 1021 and the Charities Act 2011.
The Twst constitutes a publie benefit endty as d8fined by FRS 102.
The Trustees believe that the going concem basis is entirely appropriate as the the Trust has
adequate resources to maintain the desired level of donations for the forseeable future end are
salisfied that the Trust can continue lo pay its liabilities as they fall due for a period of at least 12
months from the date of approval of these financial statements.
bl
Income
Donations and investment income are recognised on a receivable basis.
Grants Payable
Expenditure on grants is recorded once the TrLJSt has made an unconditional commitment to pay the
grant and it is Gommunicaled to the beneficiary or the grant has been paid. whichever is the earlier.
d}
other Re80urces Expanded
Other resources expended are included in the accounts on an accruals basis. Irrecoverable VAT is
charged to the Statement of Financial Activibes as incurred.
Investments
Quoted investments havè been valued at market value al the balance Sheet dale.

THE ROWSE FAMILY TRUST
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
For the year ended 31 January 2023
ACCOUNTING POLICIES (CONTINUED)
n Unroallsed galn8no8ses
Unrvdlised gain5 and hjsses are shown net in the Statement of Fina￿la1 Activities.
gl Govemance Costs
Thi5 inGludes th8 Cost of professional fees, trustee meetings and travel costs.
h) Funds
Unrestricted funds comprise those funds which the truslees are free to use for any purpose in the
furtherance of the charitable objects.
JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION
UNCERTAINTY
In the appllcalion of the Trusvs accounting policies, the Trustee5 are required to make judgments.
estimates and assumptions about the Carrying amounts of assets and liabilities that are not readily
apparent from other sources. The estimates and asso¢ialed assumptions are based on hist0￿cal
experience and other factors that are considered to be relevant. A¢tual results may differ from
these estr'mates.
The estimates arml underlying assumptions are reviewed on an ongoing basis. Revisions to
accounting estimates are recognised in the period in whKh the estimate is revised if the revision
affects onty that period, or in ihe period of the revision and ftjture periods if the revision affects
both current and future periods.
There werè no judgment or material estimation uncertaintles affecllng the reF(Srted financial
FErformance in the current or prior year.

THE ROWSE FAMILY TRUST
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
For the year ended 31 January 2023
CHARITABLE EXPENDITURE
2023
2022
Donatlons and grants to organisations
Alzheimevs Society
Bone Cancer Research Trust
Breast cancer
Cancer Research
Chance to Shine
Chosley Volunteer fund
Cholsey Development Tnjst
Church Conservation Trust
Crowmarsh Youth Football Club
Cure Parkinsons Trust
Dorothy House Hospice
Earth Trust
Emrnaus
Floatability
Growing Minds
Guide Dogs for the Blind
Homestart
Isiqalo
Kenya Children
fjdmore End Cricket
Long Lane Primary School
Marie Curie
MCC Foundation
Medical Aert D￿S
MS Society
Orchestra of Sl John's
Quest for Learning
Redruth Charity Trust
Romtons Hospice
Royal Marsdon Hospital
Royal United Hospitsl
Royal Variety Charity
Sean Kelty
SOFEA
Style Acre
Thames Valley ￿r ambulanc8
The Berin Centre
The Friends of St Laurence Church
U watch
Ukraine - local appeal
Wallingford Access Boats
Wallingford Art Club
Weston Hospice
35.000
40.000
25,000
500
1,000
7,000
1,000
7,CK)O
9,C￿0
1,000
1,000
2,000
1.000
3,CQO
2,500
5,000
5,000
1.000
5,000
5,000
5,000
81.000
10,000
5,000
1.500
5.000
50,000
10,000
1,000
5,000
2,000
3,000
23,750
5,000
10,000
23.750
5.000
1,000
10.000
10.500
8,oao
10,000
5.000
5,000
6.000
15,000
1,000
3,000
1,000
5,000
500
25.000
274 750
6,000
5,000
10,000
1,C￿0
256 250

THE ROWSE FAMILY TRUST
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
For the yearended31 January 2023
2023
2022
FIXED ASSET INVESTMENTS
Quoted Investments
Marketvalue al 01102122
Additions
Disposal proceeds
Net realised and unrealised investment (10ss)Igain
4.445.275
464.332
1669,427)
{75,686)
4,415.708
669,620
(960.252)
320,198
Market Value at 31101123
4,164.494
4,445,275
Cash held by investment managers
134.493
154.830
Total Investments
4,298.986
4.6￿,105
Historical cost at 31101123 of quoted investrnent¥
3,694,709
3,764,633
Invostm8nts that form more than 5% of total value
CF Ruffer Absolute Relum C A¢c
812,522
859.090
The above is a collectwe investment and there is no hokling in a single stQGk that forms more than 5% of the
portfolio.
Investments shown above are held as follows..
Investments held in the UK
Investments held overseas
1.051.143
3,247,843
1,001,845
3,598.260
4.298,988
4,600,105
The significance of financial instruments to the ongoing financial sustainablllty of the Trust is considered in
the financial review and investment policy and performance sectiorbs of the Report of the Truslees.
10-

THE ROWSE FAMILY TRUST
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
For the year ended 31 January 2023
FIXED ASSET INVESTMENTS {CONTINUED)
The main risk to the Trust from financial instruments lies in the combinaton of uncertain investment markets
and volatility in yield.
The Trust manages these investment risks by retaining expert advisors and operating an investment policy
that provides for an average risk profile seeking investment opwrtunilies that are quoted which give the best
total relum.
UNRESTRICTED FUNDS
Galn
Arising on
Investment8
Balance at
0110212022
Incomlng
Resou￿¢$
Outgoing
Resour¢e8
Balance at
3110112023
General Fund
4,237,111
122,193
{322,763}
(75,6861
3,960,855
Gain
Arising on
Investments
Balance at
0110212021
Incoming
Outgoing
Resources Resources
Balanca at
3110112022
General Fund
4,095,748
130,632
{309,4671
320,198
4,237,111
TRUSTEE EXPENSES
No Trustee received any remuneration or reimbursement of expenses during the year.
LOANS
These represent loans ￿ceiVed from various family members.
RELATED PARTY TRANSACTIONS
M J McAlli8ler is a partner of BDO LLP who provide accounting and taxation seNices to the Trust at normal
comrnercial rates. The total charged for the year ended 31 January 2023 was £5,97612022'. £6.25ttl
{in¢luding irrecoverable VATI.
11