## **ROMODHAM TRUST** ## **ACCOUNTS** **FOR THE YEAR ENDED 5TH APRIL 2024** ## **ROMODHAM TRUST** ## **ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2024** ## **CONTENTS** ||**Page**| |---|---| |Trustees' Report|1 - 2| |Accountants' Report|3| |Independent Examiners Report|4| |Statement of Financial Activities|5| |Balance Sheet|6| |Notes to the Accounts|7 - 10| ________________________________________________________________________________________ ## **ROMODHAM TRUST** ## **TRUSTEES' REPORT** ## **FOR THE YEAR ENDED 5TH APRIL 2024** |**Reference and Administrative**|**Details**|| |---|---|---| |**Charity registration number**|1123919|| |**Principal address**|PO Box 42519,|| ||London|| ||E1W 3WY|| |**Founder**|Adam David Cooke|(by Deed dated 9 April 2008)| |**Trustees**|Adam David Cooke|| ||Edmund Joel Weeks|(Retired 24 September 2024)| ||Nathan Anthony Steinberg|| ||Darren Willis|(Appointed 24 September 2024)| |**Accountants**|Kreston Reeves LLP|| ||2nd Floor|| ||168 Shoreditch High Street|| ||London|| ||E1 6RA|| |**Bankers**|Royal Bank of Scotland|| ||49 Charing Cross|| ||London|| ||SW1A 2DX|| |**Investment managers**|Rowan Dartington & Co. Ltd|| ||Aintree House|| ||Blackbrook Park Avenue|| ||Taunton, TA1 2PX|| |**Objectives and Activities**||| ## **a. Policies and objectives** The principal objective of the Trustees is to apply the income of the charity for general charitable purposes. ## **b. Strategies for achieving objectives** The charity makes grants to other charities at the discretion of the trustees. ## **c. Activities for achieving objectives** The charity maintains an investment portfolio in order to generate income to enable its grant making activities. ## **d. Public Benefit** In setting out objectives and planning activities the Trustees have given careful consideration to the Charity Commission's general guidance on public benefit. ______________________________________________________________________________________________________________________________________________________________ 1 RECEIVED O Y DEC 2Q24 ROMODHAM TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5TH APRIL 2024 Achlevernents and perforrnance a. Investment pollcy and perfonnance Durfng the year. the chartty received investrnent Income of £48￿6 (2023 . £45.949} which was used lo fund the charitys grant making activitses. The charity made disposals of investrnents in the year. and made gains of £1.900 and unreallsed galns of £73,882 (2023: ￿realISed105S of £101.810), on the revaluation of its inveslments at the year end. Flnanclal revlew a. Golng concern After making appropriate enquiries, the trustees have a reasonable èxpectatton Ihat the charity has adequale rosources to conllnu8 in operational existence for the foreseeable fU￿re. For this reason they conllnue to adopt the going conrErn basis in preparing the financial siaiements. Further details regarding the adoption of the golng concern basls can be found in the Accounting Pol¢ies. b. Flnanclal r]sk management obJ8Ctives and policies The Irustees have a duty to identify and review the risks to whlch the tharity is exposed and io ensure .appropriatè controls are In place io provide reasonable asswance against fraud and error. c. Resems poll The Iruslees, pollGy is to build an invesknenl por￿0110 to provide lon￿le￿n income to support ful)Jre donations. Structure. governance and managèmont a. Method of appolntment or election of Trustses The first trustees were appoirted under tho Trust Deed. All SLt)sewent appointments arè mado by the existing trustees. b. Organlsallonal strncture and declslon making The charity 15 managed entirety by the trustees on a voluntary basis. I declar8. In my capadty as Cha￿ trustee. that:_ - the Tlustees have approved the report abov8: arKI - have authorised me to sign it on their behalf. Adam David Cooke Trustee ROMODHAM TRUST ' RECEOVED 13 JAN 2025 ACCOUNTANTS. REPORT TO THE TRUSTEES ON THE TRUSTEES. ACCOUNTS for the YEAR ENDED 5 APRIL 2024 In accordanc8 Wlth the engagement letter of 4 November 2021 we have prepared the acccunts set out on pages 5 to 10 from the accountlng records of the Trustees and information and explanations glven to us. These accounts are not Intended to comply fully with the provlsions of 'UK Generally Accepted Accounting Prlnclples,. Thls report Is made to the Trustees of Romodham Trust . Our work has b8en undertaken 90 that we mlghl prepare the accounts, report that we have done so and state those matters whlch we feel should be drawn to the Trustees, attention and for no other purpose. To the fullest extent permltted by law, w& do nol accept or assume responslblllty to anyone, other than th8 TTUStaes, for our work or for thls reporL We have carAed out thls engagement In accordance wlth t8chnlcal guld81ines Issued by th8 Institute of CharleTed Accountants, In England & Wales and by the Soclety of Trust and Estate Praclitioners. We have complled th18 report wlth ethlc81 guldance lald down by Ihose bodies. We heve not been instructed lo cary out an audlt of these accounts. For this reason. we have not verffièd the accuracy or completeness of the accountlng r8cords or information and explanatlons glven to us and wg do not, therefore, express any oplnlon on these accounts. i(,,k Cecvgs LL 20.01.2025 Kreston Reeves LLP Chaitored Accountants 2nd Floor 168 ShoredStch Hl9h Street London E16RA ACCOUNTS APPROVAL In accordance wllh th8 8ngag8ment letter of 4 November 2021. we approv8 these accounts and acknowledge our responsibllity for provldlng all Informatlon and explanations necessary for theSr preparatlon. Adam David Cooke ## **ROMODHAM TRUST** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES** ## **FOR THE YEAR ENDED 5TH APRIL 2024** I report on the accounts of the charity for the year ended 5th April 2024 which are set out on pages 5 to 10. ## **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 ("the 2011 Act") and that an independent examination is needed. It is my responsibility to :- - examine the accounts under section 145 of the 2011 Act; - follow the procedures laid down in the general Directions given by the Charity Commission under section 145 (5) (b) of the 2011 Act; and - 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 review of the accounting records kept by the charity and a comparison of the accounts presented with 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 procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, I do not express an opinion as to whether the accounts present a "true and fair" view. This report is limited to those matters set out in the statement below. ## **Independent Examiner's Statement** In connection with my examination, no matter has come to my attention:- - 1 which gives me reasonable cause to believe that, in any material respect, the requirements:- - to keep accounting records in accordance with Section 130 of the 2011 Act and - to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met; or - 2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. - Jerry Canny **Jerry Canny Canny & Associates Accountants Chartered Certified Accountants** 30 Moorgate London EC2R 6PJ **Date:** 20/01/2025 ________________________________________________________________________________________________________________________________________________________________________________ 4 ## **ROMODHAM TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **FOR THE YEAR ENDED 5TH APRIL 2024** **----- Start of picture text -----**
2024 2023
UNRESTRICTED TOTAL
FUNDS FUNDS TOTAL
Notes £ £ £
Incoming resources
Investment Income 2 46,711 46,711 45,938
Interest received 2 771 771 11
Stamp Duty Recovery interest 2 844 844 -
Total incoming resources 48,326 48,326 45,949
Resources Expended
Direct charitable expenditure:
Grants and donations 4 26,550 26,550 22,000
Governance costs 4 4,800 4,800 4,800
Investment Management charges 4 5,852 5,852 7,932
Total resources expended 37,202 37,202 34,732
Surplus/(Deficit) for the year 11,124 11,124 11,217
Gain (Loss) on sale of stocks and shares 7 1,900 1,900 -
Unrealised gains/(losses) on
revaluation of investments 7 73,882 73,882 (101,810)
Stamp Duty Recovery 1,345 1,345 -
Net movement of resources 88,251 88,251 (90,593)
for the year
Net reserves brought forward 934,529 934,529 1,025,122
Net reserves carried forward 1,022,780 1,022,780 934,529
**----- End of picture text -----**
All incoming resources and resources expended arise from continuing activities. __________________________________________________________________________________________________________________________________________________________________________The notes on pages 7 to 10 form part of these financial statements. 5 ROMODHAM TRUST BALANCE SHEET AS AT 5TH APRIL 2024 2024 2023 Notes Flxed assots Investments 952,960 91&345 Current assets Cash at bank 79,626 24,184 Tolal assels 1,032,586 940.529 Credltors wlthln one year 9,806 6,OOQ Tolal assets. less current Ilabllllles 1.022.780 934.529 Funds Unrestricted funds 1.022.780 934.529 Total funds 1,022,780 934 529 The financial statements were approved by the Truslees and signed on their behalf by.. Adam Davld Cookè £4. 11. 2LÈ Dale **ROMODHAM TRUST** **NOTES TO THE ACCOUNTS** **FOR THE YEAR ENDED 5TH APRIL 2024** ## **1 Accounting policies** ## **1.1 Basis of preparation of financial statements** 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 on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn The financial statements have been prepared under the historical cost convention with items. recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of accounts. The financial statements have been prepared in accordance with the Statement of accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011. Romodham Trust constitutes a public benefit entity as defined by FRS 102. ## **1.2 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. ## **1.3 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. ## **1.4 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 activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. ________________________________________________________________________________________________________________________________________________________________________________ 7 **ROMODHAM TRUST** **NOTES TO THE ACCOUNTS** **FOR THE YEAR ENDED 5TH APRIL 2024** Charitable activities and Governance costs are costs incurred on the charity's educational operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities. 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. All expenditure is inclusive of irrecoverable VAT. ## **1.5 Investments** Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Gains/(losses) on investments’ in the Statement of financial activities. ## **1.6 Interest receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank. ## **1.7 Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **1.8 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. ## **1.9 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 within interest payable and similar charges. ________________________________________________________________________________________________________________________________________________________________________________ 8 **ROMODHAM TRUST** **NOTES TO THE ACCOUNTS** **FOR THE YEAR ENDED 5TH APRIL 2024** ## **1.10 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. |**2 Investment income**
Investment income
- local listed investments
- foreign listed investments
- local cash
- other foreign investments
**3 Governance costs**
Accountancy and Independent examiner's charges
**4 Analysis of Expenditure by expenditure type**
Expenditure on investment management
**Costs of generating funds**
Grants and donations
Expenditure on governance
**4.1 Donations**
St. Georges Crypt
Build It
Empire Fighting Back
The Listening Place
School Readers
Rotom Uganda|**Unrestricted**
**Total**
**_Total_**
**funds**
**funds**
**_funds_**
**2024**
**2024**
**_2023_**
**£**
**£**
**_£_**
15,920
15,920
_15,766_
26,020
26,020
_25,704_
1,615
1,615
_11_
4,771
4,771
_4,468_
48,326
48,326
_45,949_
4,800
4,800
_4,800_
4,800
4,800
_4,800_
5,852
5,852
_7,932_
26,550
26,550
_22,000_
4,800
4,800
_4,800_
37,202
37,202
_34,732_
**2024**
**2023**
**£**
**£**
16,000
16,000
4,000
4,000
-
2,000
4,000
-
2,250
-
300
-
26,550
22,000| |---|---| ________________________________________________________________________________________________________________________________________________________________________________ 9 **ROMODHAM TRUST** **NOTES TO THE ACCOUNTS** **FOR THE YEAR ENDED 5TH APRIL 2024** ## **5 Net income/(expenditure)** During the year, no Trustees received any remuneration _(2023 - £NIL)_ . During the year, no Trustees received any benefits in kind _(2023 - £NIL)._ During the year, Trustees received no reimbursement of expenses (2023 - £NIL). ## **6 Independent Examiner's remuneration** The Independent Examiner's remuneration amounts to an Independent Examination fee of £2,400 _(2023- £2,400)_ , and accounting services of £2,400 _(2023 - £2,400)._ ## **7 Fixed asset investments** |**Market value**
At 5 April 2023
Disposals
At 5 April 2024
Gain (Loss) on sale of stocks and shares
At 5 April 2024
**Net book value**
At 5 April 2024
_At 5 April 2023_
**Investments at market value comprise:**
Listed investments
Unlisted investments
Total market value
Unrealised gains/(losses) on revaluation of
investments|**Listed**
**Unlisted**
**Total**
**securities**
**securities**
**£**
**£**
**£**
839,101
77,244
916,345
(39,167)
-
(39,167)
799,934
77,244
877,178
1,900
-
1,900
67,838
6,044
73,882
69,738
6,044
75,782
869,672
83,288
952,960
_839,101_
_77,244_
_916,345_
**2024**
**2023**
**£**
**_£_**
869,671
_839,101_
83,288
_77,244_
952,959
_916,345_| |---|---| All the fixed asset investments are held in the UK ## **8 Creditors: Amounts falling due within one year** |Accruals and deferred income
BSP Financial group dividend received twice|**2024**
**_2023_**
**£**
**_£_**
6,000
_6,000_
3,806
_-_
9,806
6,000.00| |---|---| ________________________________________________________________________________________________________________________________________________________________________________ 10