REGISTERED CHARITY NUMBER: 1116849 Re ort of the Trustees and Unaudited Financial Statements for the Year Ended 31 Janua 2025 for The Rowse Famil Trust Friends.Tax LLP Pippins Cherry Drive Forty Green Beaconsfield Buckinghamshire HP9 IXP
The Rowse Famil Trust Contents of the Financial Statements for the Year Ended 31 Janua 2025 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 20 Detailed Statement of Financial Activities 21 22
The Rowse Famil Trust Re ort of the Trustees for the Year Ended 31 Janua 2025 The Trustees of The Rowse Family Trust (the "Trust") present their report together with the Financial Statements for the year ended 31st January 2024. The Financial Statement shave been prepared in accordance with the accounting policies set out in note 2 to the Financial Statements and comply with the Charity's Trust Deed the Charities Act 2011 and the 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 (FRS102) (effective January 2022), OBJEcfivES AND AcfiviTIES Objectives and aims The Trust is a grant making charity and the capital and income of the Trust shall be applied for such charitable purposes as the Trustees in their absolute discretion shall decide, The Trustees confirm that they have referred to the Charity Commission's guidance on Public Benefit when reviewing the Trust's aims and objectives and in planning future activities and setting grant making policy. Publlc beneflt The Trustees confirm they have complied with their duty in section 17(5) of the Charities Act 2011 to have due regard to the Public Benefit guidance published by the Charity Commission. Grantmaklng Pollcy The Trustees meet regularly to discuss the making of donations and grants but do not invite unsolicited grant applications. ACHIEVEMENTS AND PERFORMANCE During the year the Trust has made donations and grants of £358,500 (2024: £209,999) to various registered charitable organizations. A list of the grants made is shown in note 7. This takes the total of donations and grants made since the Trust was formed to over £4m. Page 1
The Rowse Famil Trust Re ort of the Trustees for the Year Ended 31 Janua 2025 FINANCIAL REVIEW Financial position The Trust received donations during the year of £57,739 (2024:£36,206). The ongoing principal source of income will be the portfolio of investments which had a market value of £3,938,508 as at 31st January 2025 {2024:£4,117441). Given the nature of the Trust's assets it is anticipated that grants will continue at a similar level in the future. Reserves policy The Trustees are aware if the requirements of the Chanty Commissioner to review their policy of reserves ar regular intervals and it is current policy to distribute an amount at least equal to all incoming resources less investment management and governance costs. The charity only holds unrestricted funds. At the year end there were £3,895,356 {2024:£3,856,926) u nrestricted reserves. FUTURE PLANS The Trustees plan to continue with the current investment and grant making policies. STRucfuRE, GOVERNANCE AND MANAGEMENT The Trust is an unincorporated trust, constituted under a Trust Deed dated 30th October 2006 and is a registered charity, number 1116849. The Trust does not actively fund raise and seeks to continue the philanthropic work desired by the settlors through careful stewardship of its existing resources. In accordance with the Trust Deed, the Trust shall appoint no more than five Trustees, each Trustee is appointed by resolution of the Trustees and each Trustee is appointed to office for life subject to their ability to continue to perform their duties. The Trustees meet at regular intervals to discuss investment strategy, the making of grants and the running of the Trust generally. The Trustees who served during the period and since the period end are set out on page 3. Page 2
The Rowse Famil Trust ort of the Trustees for the Year Ended 31 Janua 2025 REFERENCE AND ADMINISTRATIVE DEfAILS Reglstered Charlty number 1116849 Principal address 4St Mary's Court Wallingford Oxfordshire OXIO OEB Trustees R Rowse B Butcher Independent Examlner Lee Gardner Vale & West Chartered Accountsnts Vlctoria House 26 Queen Victoria Street Reading RGI ITG Approved by order of the board of trustees on signed on Its behalf by.. and R Rowse- ee Page 3
Inde endent Examinerfs Re The Rowse Famil Trust ort to the Trustees of Independent examiner's report to the trustees of The Rowse Family Trust I report to the charity trustees on my examination of the accounts of The Rowse Family Trust (the Trust) for the year ended 31 January 2025. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5){b) of the Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or the accounts do not accord with those records; or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Page 4
Inde endent Examiner's Re The Rowse Famil Trust ort to the Trustees of This report is made solely to the charity's trustees, as a body, in accordance with Regulation 31 of the Charities (Accounts and Reports) Regulations 2008. 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's trustees as a body, for my work, for this report, or for the statement I have made. Lee Gardner The Institute of Chartered Accountants in England and Wales Vale & West Chartered Accountants Victoria House 26 Queen Victoria Street Reading RGI ITG Date: 2711112025 Page 5
The Rowse Famil Trust Statement of Financial Activities for the Year Ended 31 Janua 2025 31.1.25 31.1.24 Un restricted Total fund funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 57,739 36,206 Investment income 60,112 91,307 Total 117,851 127,513 EXPENDITURE ON Raising funds 40,196 34,795 Charitable activities Grants to organisations 358,500 209,999 Other 4,848 3,615 Total 403,544 248,409 Net gains on investments 324,123 16,966 NEf INCOME/(EXPENDITURE) 38,430 (103,930) RECONCILIATION OF FUNDS Total funds brought forward 3,856,926 3,960,856 TOTAL FUNDS CARRIED FORWARD 3,895,356 3,856,926 The notes form part of these financial statements Page 6
The Rowse Famil Trust Balance Sheet 31 Janua 2025 31.1.25 31.1.24 U nrestricted Total fund funds Notes FIXED ASSETS Investments 3,938,508 4,117,441 CURRENT ASSETS Debtors Cash at bank 7,006 6,034 186,862 148,210 193,868 154,244 CREDITORS Amounts falling due within one year (237,020) (414.759) NET CURRENT ASSErs (43,152) (260,515) TOTAL ASSEfs LESS CURRENT LIABILITIES 3,895,356 3,856,926 NET ASSETS 3,895,356 3,856,926 The notes form part of these financial statements Page 7 continued.
The Rowse Famil Trust Balan Sheet - continued 31 Janua 2025 FUNDS Unrestricted funds 11 3,895,356 3,856,926 TOTAL FUNDS 3,895,356 3,856,926 The financial statements were approved by the Board of Trustees and authorised for Issue on.,..0&...%. and were slgned on Its behalf by: R Rowse - Truste The notes fonn part of these financial statements Pag8 8
The Rowse Famil Trust Notes to the Financial Statements for the Year Ended 31 Janua 2025 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charity, which is a public benefit entity under FRS 102, 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 l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds. it is probable that the income will be received and the amount can be measured reliably. Expendlture Liabilities are recognized as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resou rces. Expenditure on grants is recorded once the Trust has made an unconditional commitment to pay the grant and it is communicated to the beneficiary or the grant has been paid, whichever is the earlier. Governance costs This includes the cost of professional fees. trustees meetings and travel costs. Taxation The charity is exempt from tax on its charitable attivities. Page 9 continued.
The Rowse Famil Trust Notes to the Financial Statements - continued for the Year Ended 31 Janua 2025 ACCOUNTING POLICIES- continued Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Unrealized gains & losses Unrealized gains and losses are show net in the statement of Financial Activities. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY In the application of the Trust's accounting policies, the Trustees are required to make judgments, estimates and assumptions about the carrying amounts if assets and liabilities that are not readily apparent from other sources, The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis, Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period, or in the period of the revisions and future periods if the revision affects both current and future periods. There were no judgement or material estimation uncertainties affecting the reported financial performance in the current or prior year. Page 10 continued...
The Rowse Famil Trust Notes to the Financial Statements - continued for the Year Ended 31 Janua 2025 INVESTMENT INCOME 31.1.25 31.1.24 Investment income Interest received 27,839 32,273 63,973 27,334 60,112 91,307 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 January 2025 nor for the year ended 31 January 2024. Trustees, expenses There were no trustees, expenses paid for the year ended 31 January 2025 nor for the year ended 31 January 2024. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM Donations and legacies 36,206 Investment income 91,307 Total 127,513 EXPENDITURE ON Raising funds 34,795 Charitable activities Grants to organisations 209,999 Other 3,615 Page11 continued...
The Rowse Famil Trust Notes to the Financial Statements - continued for the Year Ended 31 Janua 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES- continued Unrestricted fund Total 248,409 Net gains on investments 16,966 NET INCOME/(EXPENDITURE) {103,930) RECONCILIATION OF FUNDS Total funds brought forward 3,960,856 TOTAL FUNDS CARRIED FORWARD 3,856,926 Page 12 continued...
The Rowse Famil Trust Notes to the Financial Statements - continued for the Year Ended 31 Janua 2025 CHARITABLE EXPENDITURE Donations and grants to organizations 2 Wish 180 Berinsfield School Alzheimers Bone Cancer Research Trust Cancer Research Chance to Shine Chew Valley School Cholsey Primary School Coastline Housing Cornubia Crowmarsh Youth Football Club Dementia UK Isiqalo Kaleidoscope Kenya Children Kidmore End Cricket Long Lane Primary School MCC Foundation Mcmillian Nurses MND Association Oxfordshire Scout Association OXON Community Fund Orchestra of St John's Quest for Learning Real SW Community Ride & Stride Royal Opera House Charitable Fund Royal United Hospital Royal Variety Charity SOFEA St Blazey Youth Football Club Style Acre Teampact International Thames Valley Air Ambulance The Berin Centre 2024 £1,000 £13,000 £12,000 £15,000 £20,000 £15,000 £3,000 £1,000 £7,000 £10,000 £1,000 £3,000 2025 £5,000 £30,000 £40,000 £3,000 £5,000 £40,000 £40,000 £6,000 £20,000 £10,000 £30,000 £5,000 £10,000 £1,000 £3,000 £1,000 £10,000 £3,500 £23,500 £10,000 £2,000 £5,000 £5,000 £9,000 £17,000 £20,000 £2,000 £1,000 £11,000 £39,999 £2,000 £20,000 Page 13 continued...
The Rowse Famil Trust Notes to the Financial Statements - continued for the Year Ended 31 Janua 2025 CHARITABLE EXPENDITURE- continued Ukraine Local Appeal Wadebridge Super Charges Wallingford Access Boats Wallingford Boys Football Club Wallingford Food Bank Warborough Youth Cricket Club Watlington U18 Football Club Weston Hospice £2,000 £1,500 £5,000 £10,000 £3,000 £10,000 £3,000 £1,000 £2,000 £209,999 £358,500 FIXED ASSEf INVESTMENTS 31.1.25 31.1.24 Shares Other 3,872,746 4,073,293 65,762 44,148 3,938,508 4,117,441 Page 14 continued...
The Rowse Famil Trust Notes to the Financial Statements - continued for the Year Ended 31 Janua 2025 FIXED ASSET INVESTMENTS- continued Additional information as follows: Listed investments MARKET VALUE At l February 2024 Additions Disposals Revaluations 4,073,293 2,680,176 (3,083,932) 203,209 At 31 January 2025 3,872,746 NEf BOOK VALUE At 31 January 2025 3,872,746 At 31 January 2024 4,073,293 Of the fixed asset investments held at the year end £2,226,852 (2024:£2,305,785) were UK assets and £1,645,894 (2024:£988,146) were overseas assets. There is one investment which is more than 5% of the total value: the TM Ruffer Portfolio B Account which had a market value of £624,599 (2024: CF Ruffer Absolute Return C Account £711,146). It is a collective investment and there is no holding in a single stock that forms more than SOA of the portfolio. Cost or valuation at 31 January 2025 is represented by: Listed investments Valuation in 2025 3,872,746 Page 15 continued...
The Rowse Famil Trust Notes to the Financial Statements - continued for the Year Ended 31 Janua 2025 FIXED ASSET INVESTMENTS- continued If fixed asset investments had not been revalued they would have been included at the following historical cost: 31.1.25 31.1.24 Cost 3,588,921 3,707,591 Investments (neither listed nor unlisted) were as follows: 31,1.25 31.1.24 Cash held by investment managers 65,762 44,148 The significance of financial instruments to the ongoing financial stability of the Trust is considered in the financial review and investment policy and performance section5 of the report of the Trustees. The main risk to the Trust form financial instruments lies in the combination 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 opportunities that are quoted which give the best total return. Page 16 continued...
The Rowse Famil Trust Notes to the Financial Statements - continued for the Year Ended 31 Janua 2025 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.1.25 31.1.24 Other debtors 7,006 6,034 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.1.25 31.1.24 Other creditors 237,020 414,759 10. LOANS An analysis of the maturity of loans is given below: 31.1.25 31.1.24 Amounts falling due within one year on demand: Other loans 231,685 409,424 11. MOVEMENT IN FUNDS Net movement At At 1.2.24 in funds 31.1.25 Unrestrlcted funds General fund 3,856,926 38,430 3,895,356 TOTAL FUNDS 3,856,926 38,430 3,895,356 Page 17 continued...
The Rowse Famil Trust Notes to the Financial Statements - continued for the Year Ended 31 Janua 2025 11. MOVEMENT IN FUNDS- continued Net movement in funds, included in the above are as follows: Incoming ResourcesGains and Movement resources expended losses in funds Unrestricted funds General fund 117,851 {403,544) 324,123 38,430 TOTAL FUNDS 117,851 {403,544) 324,123 38,430 Comparatives for movement in funds Net movement At At 1.2.23 in funds 31.1.24 Unrestricted funds General fund 3,960,856 {103,930) 3,856,926 TOTAL FUNDS 3,960,856 (103,930) 3,856,926 Page 18 continued...
The Rowse Famil Trust Notes to the Financial Statements - continued for the Year Ended 31 Janua 2025 11. MOVEMENT IN FUNDS- continued Comparative net movement in funds, included in the above are as follows: Incoming ResourcesGains and Movement resources expended losses in funds Unrestricted funds General fund 127,513 {248,409) 16,966 {103,930) TOTAL FUNDS 127,513 {248,409) 16,966 {103,930) A current year 12 months and prior year 12 months combined position is as follows: Net movement At At 1.2.23 in funds 31.1.25 Unrestricted funds General fund 3,960,856 (65,500) 3,895,356 TOTAL FUNDS 3,960,856 {65,500) 3,895,356 Page 19 continued...
The Rowse Famil Trust Notes to the Financial Statements - continued for the Year Ended 31 Janua 2025 11. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming ResourcesGains and Movement resources expended losses in funds Unrestricted funds General fund 245,364 (651,953) 341,089 {65,500) TOTAL FUNDS 245,364 (651,953) 341,089 (65,500) 12. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 January 2025. Page 20
The Rowse Famil Trust Detailed Statement of Financial Activities for the Year Ended 31 Janua 2025 31.1.25 31.1.24 INCOME AND ENDOWMENTS Donations and legacies Donations 57,739 36,206 Investment income Investment income Interest received 27,839 32,273 63,973 27,334 60,112 91,307 Total incoming resources 117,851 127,513 EXPENDITURE Raising donatlons and legacles Investment and bank fees 40,196 34,795 Charltable activities Grants to organizations 358,500 209.999 Support costs Governance costs Independent examination fee Governance costs 2,448 2,400 1,470 2,145 4,848 3,615 Total resources expended 403,544 248,409 Net expenditure before gains and losses (285,693) {120,896) This page does not form part of the statutory financial statements Page 21
The Rowse Famil Trust Detailed Statement of Financial Activities for the Year Ended 31 Janua 2025 31.1.25 31.1.24 Realised recognised gains and losses Realised gains/(losses) on fixed asset investments 324,123 16,966 Net Income/(expenditure) 38,430 (103,930) This page does not form part of the statutory financial statements Page 22