OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-03-31-accounts

2020-2021 Rosa Fund Annual Report

Annual report of the Trustees, audited financial statements for the year ended 31 March 2021

ROSA ANNUAL REPORT: 2020-2021

Report of the Trustees for the Year Ended 31st March 2021

The Trustees, who are also Directors of the Charity for the purposes of the Companies Act 2006, present their report with the financial statements of the Charity for the year ended 31 March 2021.

REFERENCE & ADMINISTRATIVE DETAILS

Registered Company number: 06598018 (England and Wales)

Registered Charity number: 1124856 Registered name: Rosa Fund

Registered office: 4th Floor, United House, North Road, London, N7 9DP

TRUSTEES

Catherine Dovey, Chair Sheila Jane Malley, Vice-Chair David Aeron-Thomas, Treasurer Beverley Huie – appointed 13th October 2020

Gilly Green Kay Ali Linda McDowell – retired 5th July 2021 Lisa Raftery – appointed 13th October 2020

Niamh Grogan – retired 13th October 2020 Reetu Sood – appointed 13th October 2020, retired 8th November 2021

Ruth Pearson – retired 12th July 2021 Sarah Barber – appointed 13th October 2020 Sarah Jackson – appointed 13th October 2020 Saria Khalifa –retired 1st May 2020

EXECUTIVE DIRECTOR

Alex Delaney ( Interim September 2019 – April 2020)

Rebecca Gill – appointed April 2020

AUDITORS

Dunkley’s Woodland Grange, Woodlands Lane, Bradley Stoke, Bristol BS32 4JY

SOLICITORS

Bates Wells 2-6 Cannon Street, London EC4M 6YH

BANKERS

HSBC 74 Goswell Road London EC1V 7DA

3

----- Start of picture text -----
ROSA ANNUAL REPORT: 2020-2021
----- End of picture text -----

Contents

Report of the Trustees 02
INTRODUCTION FROM THE CHAIR 05
REFLECTING ON ROSA’S ACHIEVEMENTS 2020 -2021 08
STRUCTURE, GOVERNANCE AND MANAGEMENT 14
RISK MANAGEMENT 16
FINANCIAL REVIEW 18
VALUING OUR FRIENDS AND SUPPORTERS 20
STATEMENT OF TRUSTEE RESPONSIBILITIES 22
Report of the Independent Auditors 24
Financial Statements 28
STATEMENT OF FINANCIAL ACTIVITIES 29
BALANCE SHEET 30
STATEMENT OF CASH FLOWS 31
NOTES TO THE FINANCIAL STATEMENTS 32

2

Introduction from the Chair

ROSA ANNUAL REPORT: 2020-2021

It would be impossible to reflect on Rosa’s achievements over the last year without first acknowledging the stark inequalities across our society that have been revealed through the pandemic, through the Black Lives Matter movement and as women took to the streets across the four nations to express collective anger, grief and sadness at the scale of violence perpetrated by men and boys towards women and girls. As the pandemic raged and the inequalities of gender, race and age were laid bare, a collective sense of injustice and impatience has, rightly, risen to the surface.

For Rosa, as a funder of women’s and girls’ organisations, these issues are core to our identity and our work. We tackle inequality. We believe specialist services for women and girls make a difference and we seek to effect change through our grantmaking. Most importantly, we fund women: women who experience inequalities and women whose work in frontline organisations gives them unique insight into inequality. We fund them not because they deliver services, but because they can deliver change.

FUNDING:

We have raised over £4 million in funding to channel into frontline organisations led by and for women and girls across the UK.

This is why we strive to put our grantees at the centre of our funding practice. Indeed, as a longstanding funder in the women and girls’ sector, we were able to call on our grantees at the start of the pandemic to help us to identify where funding was needed most. Through their insight, we have raised over £4 million in funding to channel into frontline organisations led by and for women and girls across the UK. This included over £600,000 specifically to emergency grants for organisations led by and for Black and minoritised women delivering frontline domestic abuse services, in partnership with Imkaan.

And the crisis is not over yet. Our most recent grants programme – Women Thrive Fund – received 10 times more applications than we were able to fund. We continue to seek ways to respond effectively, including the launch of our Rise Fund, which aims to raise and channel over £750,000 to organisations led by and for Black and minoritised women and girls.

Our response to the needs of organisations across the women and girls’ sector has also been made possible by extraordinary support we have received from many partners this year and the many individual donors who responded to our Covid19 emergency appeal. In a time of incredible need across the women’s and girls’ sector, it was this support and mutual reinforcement that enabled us to deliver a rapid and effective response.

In a difficult year, I also want to acknowledge the tireless effort of all the brilliant women who have been part of Rosa’s team effort. Led by Rebecca Gill, Executive Director, their hard work cannot be overstated, processing more than 1,000 grant applications, making more than 300 grants, working with funders and partners, seeking insight and communicating needs, building capacity and just being there when our grantees need to talk. It is an honour to work alongside a team with such dedication, passion and professionalism.

5

ROSA ANNUAL REPORT: 2020-2021

OUR TEAM:

Led by Rebecca Gill, Executive Director, the hard work of our team cannot be overstated, processing more than 1000 grant applications, making more than 300 grants, working with funders and partners, seeking insight and communicating needs, building capacity and just being there when our grantees need to talk.

Lastly, it has been a year of organisational growth and I am proud to have worked alongside such an experienced and dedicated group of Trustees. In October, I was delighted to welcome to the Board of Trustees Sarah Barber, Beverley Huie, Sarah Jackson OBE, Lisa Raftery and Reetu Sood. I also want to offer my heartfelt thanks to Niamh Grogan who stepped down from the Board in October 2020, Ruth Pearson and Linda McDowell who stepped down in July 2021 and Reetu Sood who stepped down in November 2021.

As a Board, we have reflected on our mission and vision, reaffirming our role as an accessible funder that respects and values the work of the organisations we support. We have considered how we can live our values in the changing context of equity and inclusion. And, we have undertaken the hard work needed to ensure our practices and procedures will allow us to emerge from the pandemic better able to fulfil our mission to empower women and girls, to strengthen women’s organisations, to shape lives and to influence change.

Catherine Dovey

Chair of Trustees

6

Reflecting on Rosa's Achievements 2020-2021

ROSA ANNUAL REPORT: 2020-2021

In this extraordinary year of the Covid19 pandemic, Rosa stepped up funding and support to meet the emerging needs that came out of the crisis. Rosa exists to raise funds and distribute them to organisations led by and for women and girls and we measure our success by the level of funds raised and the range of funds distributed. As the UK’s only funder dedicated to supporting and resourcing the women and girls’ sector in all four nations, we did not lose sight of our continued mission to empower women and girls by raising and distributing funding and resources to help sustain organisations led by and for women and girls. Rosa’s annual report is an opportunity to reflect on what the organisation has achieved and to look ahead to the coming year.

In addition to our securing and distributing emergency funding in response to Covid-19, new leadership within the organisation and on the Board of Trustees has also given us the opportunity to revisit our mission, vision and values, reflecting on where we have come from and how we want to develop and grow in order to achieve our ambitions. As with so many organisations, this is a work in progress for us and we are lucky that we have so many committed stakeholders who have been prepared to support our work in this area.

Our values remain central to our work. We always aim to be bold, agile, collaborative, inclusive and transparent. Our strategy is based on five ambitions which inform our approach to all our work:

  1. We increase the flow of funding into the UK women’s and girls’ sector

  2. We contribute to systemic change in order to empower women and girls

  3. We are thoughtful, collaborative and responsive in our grantmaking, putting organisations led by and for women and girls at the heart of our practice

  4. We are a trusted and respected funder

  5. We invest in learning in order to improve our work and the lives of women and girls across the UK

RESPONDING TO THE IMPACT OF COVID19

As for so many charities, the Covid19 pandemic presented significant challenges for us and for the organisations we fund. We responded by revising our work programme to meet the needs of our grantees as quickly as possible. Our first act was to work with partner organisations to engage with organisations led by and for women and girls across the UK. Our network of grantee organisations responded swiftly to a survey we compiled enabling us to gain and share an immediate understanding of the emerging range of challenges they were facing.

RESONDING TO THE IMPACT OF COVID-19:

Within two months, we raised over £1 m illion in donations from generous individuals and funders.

8

ROSA ANNUAL REPORT: 2020-2021

Based on the findings, we were able to develop an emergency fund to respond to their needs. Within two months, we raised over £1 million in donations from generous individuals and funders. We ploughed this funding into a grants programme to provide Covid19 emergency grants to organisations led by and for women and girls. Alongside this, we worked in partnership with Imkaan to run a closed grants programme to distribute over £600,000 in Covid19 emergency grants to organisations led by and for Black and minoritised women delivering frontline domestic abuse services. Almost all the funding from these two grants programmes was distributed by September 2020, with a final round of Covid19 small grants distributed in March 2021. In total, through these two funds, we awarded funding to 99 women’s and girls’ organisations across the UK.

In the Autumn of 2020, we conducted an extensive engagement programme with our Covid19 grantees, setting up video calls with over half of the grantees from the two programmes to understand how the funding was helping their organisation and what further needs they had. This work was critical to understanding the impact of our investment in organisations, but also for considering how we could further support their work to empower women and girls in the changing circumstances brought about by the pandemic. Three activities emerged from this: firstly, we produced reports in Autumn 2020 and in Spring 2021, enabling us to share their insights with other funders.

Our aim was to amplify the experiences of these organisations to our stakeholders to ensure further resources and investment flows into the women and girls’ sector. Secondly, we developed a further round of funding for the small grants programme to meet their continuing emergency needs, providing 65 of the original 72 grantee organisations with additional grants. Thirdly, we took steps to develop a fund specifically for organisations led by and for Black and minoritised women (see below).

TAMPON TAX FUNDING

We were delighted to form a partnership with Smallwood Trust and successfully bid for funding from the UK Government’s Tampon Tax Fund. We were awarded £1.7 million in November 2020 which we used to create the Women Thrive Fund. In July 2021, The Women Thrive Fund awarded funding to 70 organisations across the UK working to tackle poverty and improve women and girls’ mental health. The grants panel was made up of representatives from the UK’s women and girls’ sector as well as Rosa and Smallwood Trust Trustees. This was our most over-subscribed fund to date, highlighting the changing context and needs across the women and girls’ sector. The fund attracted over 650 applications with requests that totalled over £17 million – 10 times the amount we had available in funding. We have partnered with Smallwood Trust again and bid for further funding from the Fund in the hope that we can continue to work together to meet the needs of the UK women and girls’ sector.

TAMPON TAX FUNDING:

The fund attracted over 650 applications with requests that totalled over £17 m illion – 10 times the amount we had available in funding.

RISE FUND

In Autumn 2020, we started to develop a new fund specifically for organisations led by and for Black and minoritised women and girls, and to concentrate our fundraising efforts in this area. Rosa continually

9

ROSA ANNUAL REPORT: 2020-2021

strives to respond to the immediate needs of the women and girls’ sector and to understand the longerterm challenges faced by organisations. It has been clear to us for several years, that organisations led by and for Black and minoritised women receive significantly less funding than other charitable organisations and social enterprises. Covid19 exacerbated the inequalities faced by individuals and communities in the UK and this was reflected in the organisations that exist to support them.

The Rise Fund centres on those women and girls who have experienced racial injustice. It has been overseen by Trustees who are all women of colour and we invited women of colour working in the women and girls’ sector to form a ‘Critical Friends’ Group to help shape the programme of work through its development. The Fund will launch in November 2021 with £750,000 to award in grants.

STAND WITH US

Male violence continued to blight the lives of many women and girls this year, with lockdown measures meaning some women experienced escalating levels of violence from male abusers. Many of the organisations we fund support women and girls who experience violence in all its forms, including from partners and ex-partners, as well as siblings, parents, as well as strangers.

We are proud to be working with Reclaim These Streets and other organisations working to address male violence against women and girls to use the money to develop the Stand With Us Fund which will provide grants to organisations, led by and for women and girls affected by male violence. Reclaim These Streets originally raised over £500,000 in 36 hours for organisations working to address male violence against women and girls. We aim to build on the momentum of the original fundraiser to secure even more money towards the fund which will be distributed in 2022. We would like to thank the organisers of Reclaim These Streets for giving Rosa the privileged opportunity to manage this fund.

STAND WITH US:

Reclaim These Streets originally raised over £500,000 in 36 hours for organisations working to address male violence against women and girls.

THE JUSTICE AND EQUALITY FUND

Our plans to distribute the remaining funds from the Justice and Equality Fund (JEF) were put on hold when the pandemic struck and we pivoted to respond to the immediate needs of organisations facing an emergency. We continued to work closely with organisations which had been funded through the three JEF programmes, supporting some to deliver their projects online and others to pause the work until lockdown measures eased.

Rosa undertook a review of Justice and Equality projects and looked to target the remaining JEF funds towards organisations who could share particular good practice across the women and girls’ sector and beyond, as well as support the enduring legacy for the fund as a whole. In October 2021, we were delighted to distribute the final round of grant payments to five grantee organisations: Birmingham Rape and Sexual Violence Project, Latin American Women’s Rights Service, Rights of Women, Women’s Resource and Development Agency, and Women’s Support Network. We will report on the outcome from this round of grants in our next annual report.

10

ROSA ANNUAL REPORT: 2020-2021

COLLABORATIONS AND PARTNERSHIPS

Building partnerships with the organisations we fund remains central to our values as a grantmaker. The pandemic accelerated the process of moving meetings and events online and we were lucky to be able to engage with so many of our grantees through video platforms, webinars and online networking sessions, as well as by phone. Based on some of this work, we produced reports and impact assessments, highlighting how our funding has been used. Conversations with grantees combined with material in grantees’ monitoring reports, continues to deepen our understanding of the multiple and complex needs and challenges of the women and girls’ sector. This unique insight has informed our training and support offer, often through webinars and networking events. As part of this process, we harnessed the expertise within these organisations to share across the sector, commissioning organisations to deliver webinars on specific topics to inform others. We were proud to work with Women’s Resource Centre between 2019 and 2021 to deliver the Feminist Leadership training course for two years running, switching from face to face to online in response to the pandemic.

The success of our grantmaking relies on our partnerships with women’s and girls’ organisations across the UK. This year, in 2020 this included working with Imkaan to develop and deliver the Covid19 BME Women’s Fund and with Smallwood Trust to secure Tampon Tax Funding for the Women Thrive Fund (which was distributed in July 2021). Our grants panels which make the final decisions about how funding is distributed always include women from women and girls sector organisations working alongside Rosa Trustees and representatives of funders and other stakeholders. It is our firm belief that this approach ensures our funding reaches the organisations which need it most across all four nations of the United Kingdom.

Rosa’s relationship with the funding and grantmaking sector is also central to our approach. This year, we have been pleased to continue our role as Chair of the Association of Charitable Foundation’s Violence Against Women and Girls Network. Through this, we have developed strong connections to a range of partner funders with an interest in this area of work, allowing us to share expertise and consider challenges facing the sector in depth. In addition, and particularly in response to the pandemic, we were pleased to contribute to partnerships and networks established by the funding sector to ensure that resources were distributed fairly and equitably, addressing the needs of women’s and girls’ organisations including those led by and for Black and minoritised women.

ADDRESSING RACE AND RACISM IN THE CHARITABLE FUNDING SECTOR

2020 also brought into the sharp focus the experience of racism that so many Black people and people of colour face in the UK. We remain firmly committed to supporting organisations led by and for Black and minoritised women, recognising that many of them are rooted in their communities and are critical to the women and girls they work with and advocate for, but are also chronically underfunded. This year we have prioritised organisations led by and for Black and minoritised women in our grant awards, which means that over 60% of our funding has been awarded to these organisations.

Rosa has taken time this year to reflect on our approach to addressing racism as a funder and as a charity. We were delighted to engage Dr Roberta Babb, a clinical psychologist who specialises in supporting organisations to explore their approach to equality, diversity and inclusion through an intentionally anti-racist lens. She brought her expertise to the staff team to support them to reflect individually and collectively on our efforts to place anti-racism at the heart of our work. We remain

11

ROSA ANNUAL REPORT: 2020-2021

firmly committed to maintaining our learning and improving our work in this area and we will continue to prioritise our efforts to embed anti-racist practice within and across all of our work to ensure we can continue to improve as a grantmaker for the women and girls’ sector

IMPROVING OUR PROCESSES

Rosa used the arrival of the new Executive Director, Rebecca Gill, in April 2020 to stabilise the charity’s foundations. Working with the Trustees, Rebecca has embarked on refreshing Rosa’s strategy, improving our financial systems, strengthening and diversifying the Board with the recruitment of new Trustees and refreshing our internal policies and systems.

As ever, Rosa has relied heavily on the passion, enthusiasm and hard work of its employees and freelancers and the goodwill and expertise of its Trustees to enable it to deliver a high volume of quality work. When lockdown measures were introduced in March 2020, Rosa was, like many charities, forced to move to complete remote working with few resources to support this approach. Driven by the willingness of staff and Trustees to adapt, this process was swift and successful. We have now adopted a hybrid model as our preferred way of working, with some staff based in the London office and others working from home in locations across the UK. This approach has already enabled us to recruit and retain brilliant staff who may not have applied for roles at Rosa if we had insisted on everyone working from one, London-based office.

2021 AND OUR PLANS FOR THE FUTURE

Rosa has started the new financial year with clear ambitions and high expectations. We worked with our partners Smallwood Trust to distribute funding through the Women Thrive Fund. In July 2021, Thrive awarded funding to 70 organisations across the UK working to tackle poverty and improve women’s and girls’ mental health. This expenditure will be recorded in our 2021/22 Accounts.

We were delighted to welcome over 750 people to our two-day digital conference in June. This free event drew on the expertise of a range of speakers from women’s and girls’ organisations, funding and grantmaking organisations as well as the wider charitable sector and Government. It was brilliant to hear so many perspectives on issues including building anti-racist practice, campaigning and influencing and applying for funding. We are grateful to all our speakers, attendees and to our corporate sponsor of the event, Cummins, for helping to make the event such a success. In addition to the conference, we have continued to convene webinars and online networking sessions for our grantees and were thrilled to give 24 women the opportunity to gain skills in digital storytelling through our collaboration with Women Win, a women’s fund registered in the UK, the Netherlands and the United States.

Over the coming year, several funding programmes will be the focus of our work including Rise, Stand With Us and a new Voices from the Frontline Programme, in the hope we can reach even more organisations led by and for women and girls across the UK.

We have welcomed new staff to Rosa and said farewell to some staff and Trustees. All the work that our paid employees, freelancers, Trustees and supporters do for our organisation is greatly appreciated.

A note on our numbers

Rosa recognises all the funding it receives at the point of signing a formal agreement and/or receiving the funding in our bank account (for example via individual donations). However, our grants programmes can operate over more than one financial year. This means that in any given financial year our accounts can show one set of grant income which is vastly different to grants expenditure.

12

"4V7' Structure, Governance and Management

ROSA ANNUAL REPORT: 2020-2021

As set out in Rosa’s Articles of Association, a Board of Directors (the Charity Trustees) governs Rosa. The Board is responsible for overall policies and strategic direction of the charity, along with its financial and legal probity.

TRUSTEE RECRUITMENT

In accordance with the Articles, new Trustees are appointed by the Board for a three-year term and may be appointed for two further three-year terms. When recruiting new Trustees, the Board actively considers the need for diversity and geographical representation alongside a range of relevant skills and experience, and our strategic direction. On induction, new Trustees are provided with background documentation about Rosa and guidance from the existing Board and staff as well as Charity Commission guidance on the responsibilities of Trustees. Rosa’s current Trustees bring a breadth of experience in women’s issues, leadership, philanthropy, corporate social responsibility, human resources, partnerships, fundraising, governance, charity law, grant giving, finance and communications.

DECISION MAKING

In ordinary times, the Board of Trustees meets quarterly, with an additional annual strategy away-day. Ahead of each meeting, the Executive Director provides a meeting agenda and papers to support the Trustees’ decision making. Minutes are recorded of each meeting. The Articles of Association provide for extraordinary virtual meetings, which are also minuted. At the start of the Covid19 lockdown in March 2020, the Board met fortnightly for two months to ensure the smooth running of the organisation as it responded to the need for remote working and the increasing demands being placed on the organisation and the wider women and girls’ sector.

Each grants programme is overseen by a Grants Panel which is given delegated authority by the Board of Trustees to make decisions on grants. Each Grants Panel is governed by Terms of Reference (ToR) adopted by the Board. Grants Panels include a minimum of two Trustees and are attended by the Executive Director. The ToR specify the limits of authority delegated by the Trustees, including the grants budget. Trustees have adopted a Grants Manual and a Staff Handbook which contain policies and procedures approved by the Board and these are reviewed and updated regularly.

KEY MANAGEMENT PERSONNEL

The Trustees, together with the Executive Director, comprise the key management of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis. The Trustees receive no remuneration. The Executive Director is appraised annually by the Chair and staff are appraised annually by the Executive Director. Salaries are offered in line with market and industry rates and are reviewed on a regular basis by the Finance, Audit and Risk Committee.

PUBLIC BENEFIT AND CHARITABLE OBJECTIVES

The objects of the Charity, as stated in the Memorandum of Association are, “to further any purposes which are charitable under the laws of England and Wales from time to time, including to promote the efficiency and effectiveness of charities and the effective use of charitable resources, with particular reference to charities working with women or addressing issues that affect women.” The main activities carried out to deliver this are set out in the Reflecting on Rosa’s Year 2020-2021 section above. Rosa Fund is a Public Benefit Entity. The Trustees confirm that they have complied with the duty of Section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the charity. In particular, the Trustees consider carefully how future strategy and planned activities will contribute to the aims and objectives of the Charity.

14

Risk Management

ROSA ANNUAL REPORT: 2020-2021

The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable reassurance against fraud and error.

Risks are assessed both from a financial and reputational point of view. The Trustees maintain a risk register and review it annually, along with the measures taken to mitigate and manage these risks. They are satisfied systems are in place to minimise exposure to risks.

Key risks identified and measures taken this year include:

16

Financial Review

ROSA ANNUAL REPORT: 2020-2021

The statement of financial activities for the year ended 31st March 2021 shows a net surplus of £2,360,309 (2020: deficit £819,066). These swings in surpluses and deficits relate to timing differences between the date that funds are received for grant making and the timing of the actual grant making. Total fund balances at the year-end of £3,300,778 included restricted finds of £3,048,235 and unrestricted funds of £252,543.

RESERVES POLICY

Rosa’s policy is to hold sufficient free reserves to cover core expenditure (defined as planned unrestricted expenditure) for a minimum of three months and a maximum of six months. This is to allow Rosa to continue some level of operation in the event of a sudden deterioration in its finances. At 31st March 2021, our free reserves were £252,543 and equate to about 17 months of forward core expenditure. This is higher than we would normally hold, but we considered it prudent to hold an increased amount to cover the turbulence expected from the impact of the Covid19 pandemic; and we plan to reduce these reserves over the coming year. We will also re-examine our reserves policy over the coming year.

PRINCIPAL FINANCIAL MANAGEMENT POLICIES

Financial Policies have been adopted by Trustees and are contained in Rosa’s Staff Handbook and Grants Manual. An annual budget is approved by the Board before the beginning of the financial year. All expenditure is checked against budget and authorised by the budget holder who is responsible for ensuring that the expenditure remains within the agreed limits. Financial and management reports are provided quarterly to the Board of Trustees.

COVID19

As set out elsewhere in this report, the Covid19 global pandemic had a devastating effect on women’s and girls’ organisations. Rosa has invested resources to supporting our grantees to adjust to their situation and that of the women and girls they work with. This has included offering flexibility around the purposes that grants can be used for, the period over which they need to report and providing other support where possible.

We also worked closely with our own funders to re-purpose funding where appropriate to enable us to respond to the emergency situation, pro-actively support our grantees and invest in extra staffing time that we have devoted to this. We are enormously grateful to our funders for their understanding and energy in enabling us to do this.

18

Valuing our friends and supporters

ROSA ANNUAL REPORT: 2020-2021

Rosa would like to thank every individual, business and charitable trust and foundation that supported our work in 2020/21, including:

Airbnb JAC Trust Te Indigo Trust
Aviva Investors Kering Foundation Te Rank Foundation
Comic Relief List Family Foundation Te Talent Fund
Cummins Foundation Te Clothworkers’ Foundation Te Tudor Trust
Esmée Fairbairn Foundation Te Emmanuel Kaye Te Waterloo Foundation
Fondation Chanel Foundation

Rosa’s work is made possible by the tireless work of a dedicated team of staff, and we would like to thank:

Rebecca Gill (Executive Director)

Anna Jarvis (Head of Grants)

Rehana Reid (Head of Grants) – until May 2021 Seyi Newell (External Relations) – until May 2020 Jade Hammond (Communications) – until September 2021

Angela Todd Drake (Admin and Finance Officer) – until April 2021

Rosa Devlin-Holmes (Fundraising and Projects Officer) – until August 2021

Louise Telford (Head of Grants) – joined May 2021 Caroline Crawford – (Grants Manager) – joined May 2021

Sarah Wellstead (Finance and Admin Officer) – joined September 2021

Liz Griffiths (Head of Fundraising and Communications) – joined September 2021

We would also like to thank the following individuals who have enhanced our work internally and externally:

Dr Roberta Babb Vinit Mehta Emily Simpson
Alex Delaney Lucy Perman Niamh Sims
Peter Gilheany Dr Katherine Rake Lakshmi Sundaram
Carrie Greene Tebussum Rashid Cullagh Warnock
Martina Legerer Charlotte Ravenscroft

Assessors:

Assessors:
Naomi Brown Claire McClaferty Emily Simpson
Sian Butler Carol Meredith Jan Strong
Carol Hartley Maku Obuobi

All of the women involved with Reclaim These Streets, particularly Jamie Klingler and Ludovica Orlando.

20

Statement of Trustee Responsibilities

ROSA ANNUAL REPORT: 2020-2021

The Trustees (who are also the Directors of Rosa Fund for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included in the charitable company’s website.

Guarantees

Members of the charitable company guarantee to contribute an amount not exceeding £1 to the assets in the event of winding up. The Trustees have no beneficial interest in the charitable company.

Auditors

So far as each of the Trustees is aware at the time the report is approved:

Dunkley's have agreed to offer themselves for re-election as auditors. Approved by the Trustees on 8th November 2021 and signed on their behalf by:

.................................... ……………………………………. Catherine Dovey, Chair David Aeron-Thomas, Treasurer

22

ROSA ANNUAL REPORT: 2020-2021

23

ROSA ANNUAL REPORT: 2020-2021

OPINION

We have audited the financial statements of Rosa Fund (the ‘charitable company’) for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially

24

ROSA ANNUAL REPORT: 2020-2021

misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Statement of Trustees Responsibilities, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company’s Trustees, as a body, in accordance with Section 144 of the Charities Act 2011 and regulations made under Section 154 of that Act. Our audit work has been undertaken so that we might state to the charitable company’s Trustees those matters we are required to state to them in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we

25

ROSA ANNUAL REPORT: 2020-2021

do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed. Dunkley’s Statutory Auditors Chartered Accountants

Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006

Woodlands Grange Woodlands Lane Bradley Stoke City of Bristol BS32 4JY

Date: 15 December 2021

26

Financial Statements

ROSA ANNUAL REPORT: 2020-2021

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE

ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021

NOTE
UNRESTRICTED
FUNDS
£
INCOME AND
ENDOWMENTS FROM
Donations and Grants
247,300
Charitable Activites
3,400
Investment income
806
TOTAL INCOMING
RESOURCES
2
251,506
EXPENDITURE ON
Raising funds
34,900
Charitable activities
31,883
TOTAL RESOURCES
EXPENDED
4
66,783
NET INCOME
(EXPENDITURE)
184,723
Transfers between funds
9
(13,041)
Other recognised gains/
(losses): Exchange rate
gains/(losses)
-
NET MOVEMENT IN FUNDS
9
171,682
RECONCILIATION OF FUNDS:
Total Funds brought
forward
80,861
TOTAL FUNDS CARRIED
FORWARD
252,543		 RESTRICTED
FUNDS
£
4,223,762
3,728
-
4,227,490
5,394
2,046,510
2,051,904
2,175,586
13,041
(7,573)
2,181,054
867,181
3,048,235		 TOTAL
2021
£
4,471,062
7,128
806
4,478,996
40,294
2,078,393
2,118,687
2,360,309
-
(7,573)
2,352,736
948,042
3,300,778		 UNRESTRICTED
FUNDS
£
44,197
-
2,332
46,529
40,988
57,295
98,283
(51,754)
(36,764)
-
(88,518)
169,379
80,861		 RESTRICTED
FUNDS
£
108,227
-
856
109,083
5,460
870,935
876,395
(767,312)
36,764
2,375
(728,173)
1,595,354
867,181		 TOTAL
2020
£
152,424
-
3,188
155,612
46,448
928,230
974,678
(819,066)
-
2,375
(816,691)
1,764,733
948,042

All activities reported above represent continuing activities.

The notes form part of these financial statements.

28

ROSA ANNUAL REPORT: 2020-2021

BALANCE SHEET AS AT 31 MARCH 2021

NOTE
UNRESTRICTED
FUNDS
£
FIXED ASSETS
6
4,755
7
30,122
223,863
253,985
8
(6,197)
247,788
-
252,543
9
9
Tangible assets
CURRENT ASSETS
Debtors
Cash at bank and on Deposit
LIABILITES
Creditors: amounts falling due
within one year
NET CURRENT ASSETS
Creditors: amounts falling due
after one year
TOTAL NET ASSETS
FUNDS
Unrestricted funds
Restricted funds
TOTAL FUNDS
-		 RESTRICTED
FUNDS
£
-
2,502,590
1,280,624
3,783,214
(731,285)
3,051,929
(3,694)
3,048,235
-		 2021
£
4,755
2,532,712
1,504,487
4,037,199
(737,482)
3,299,717
(3,694)
3,300,778
252,543
3,048,235
3,300,778		 2020
£
6,783
322,149
1,414,004
1,736,153
(703,126)
1,033,027
(91,768)
948,042
80,861
867,181
948,042

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard 102.

The notes form part of these financial statements.

The financial statements were approved by the Board of Trustees on 8th November 2021 and signed on its behalf by:

……………………………………….

Catherine Dovey, Chair

……………………………………….

David Aeron-Thomas, Trustee

Company Number: 06598018

29

ROSA ANNUAL REPORT: 2020-2021

STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 MARCH 2021

2021
£
2020
£
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash (used in) provided by operating activities
100,691
(477,681)
CASH FLOWS FROM INVESTING ACTIVITIES:
Dividends, interest and rents from investments
806
3,188
Purchase of property, plant and equipment
(3,441)
(1,110)
Net cash (used in) provided by investing activities
(2,635)
2,078
CASH FLOWS FROM FINANCING ACTIVITIES:
Net cash provided by (used in) fnancing activities
-
-
NET CHANGE IN CASH AND CASH EQUIVALENTS
98,056
(475,603)
Cash and cash equivalents at the start of the year
1,414,004
1,887,232
Change in cash and cash equivalents due to exchange rate movements
(7,573)
2,375
Cash and cash equivalents at the end of the year
1,504,487
1,414,004
RECONCILIATION OF NET INCOME / (EXPENDITURE) TO NET CASHFLOW FROM OPERATING ACTIVITIES
2021
£
2020
£
Net income/(expenditure) for the fnancial year
Adjustments for:
2,360,309
(819,066)
Depreciation charges
5,469
4,803
Dividends, interest and rents from investments
(806)
(3,188)
(Increase)/decrease in debtors
(2,210,563)
743,653
Increase/(decrease) in creditors
(53,718)
(403,883)
Net cash provided by (used in) operating activities
100,691
(477,681)		 2021
£
100,691
806
(3,441)
(2,635)		 2020
£
(477,681)
3,188
(1,110)
2,078
-
(475,603)
1,887,232
2,375
1,414,004
100,691 (477,681)

30

ROSA ANNUAL REPORT: 2020-2021

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. PRINCIPAL ACCOUNTING POLICIES

a. Basis of Preparing Financial Statements

The financial statements of the charitable company, 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 second edition) (effective 1 January 2019)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in Sterling, which is the functional currency of the charity and are rounded to the nearest pound.

b. Critical Accounting Estimates and Areas of Judgement

Preparation of the financial statements requires the Trustees to make significant judgements and estimates. The Trustees do not consider that there are any sources of estimation uncertainty, or any key judgements made in the preparation of the financial statements. The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are laid out below.

c. Going Concern

The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The trustees have made this assessment in respect to a period of one year from the date of approval of these financial statements. The Trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.

d. Fund Accounting

e. Income

All income is included on the Statement of Financial Activities when the charity is legally entitled to the income, it is probable that it will be received, and the amount can be quantified with reasonable accuracy.

The following specific policies are applied to particular categories of income:

f. Expenditure

Expenditure is recognised on an accruals basis as liabilities are incurred and includes any VAT which cannot fully be recovered.

31

ROSA ANNUAL REPORT: 2020-2021

g. Allocation of Support and Governance Costs

Support costs and governance costs are allocated to the charity’s charitable activities on a basis consistent with the use of resources.

h. Allocation of Expenditure to Activities

Expenditure has been allocated to activities, support and governance costs either directly or based on staff time spent delivering those activities.

i. Foreign Currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

j. Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid.

k. Cash at Bank and on Deposit

Cash at bank and on deposit represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition..

l. Creditors and Provisions

Creditors and provisions 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. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt.

m. Tangible Fixed Assets and Depreciation

Tangible fixed assets costing over £500 (including any incidental expenses of acquisition) are capitalised. Depreciation is provided at rates calculated to write off the cost on a straight-line basis over their expected useful economic life. The rate of depreciation applied to all assets is 33.33%.

n. Taxation

The company is a registered charity and as such is entitled to exemption from taxation under the Income and Corporation Taxes Act 1988.

32

ROSA ANNUAL REPORT: 2020-2021

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

2. INCOME
UNRESTRICTED
FUNDS
£
DONATIONS AND LEGACIES
General Donations
76,010
Other General Donations
42,730
23,500
-
-
7,000
-
-
-
-
-
-
-
73,230
Fondation Chanel
Anonymous Donor
Kering Foundation
UK Justice and Equality Fund
Aviva
Kering Corporation
JAC Trust - Reg No 1189523
List Family Foundation
Donor-Advised Fund: Sherwood Forest
Oasis & Warehouse
Chanel Corporation
Events
Gift Aid
60
Grants*
-
-
-
30,000
-
20,000
-
-
45,000
-
-
-
-
The Department for Digital, Culture,
Media and Sport (Note 3)
Comic Relief
Imkaan
Esmée Fairbairn Foundation
Te Indigo Trust
Te Tudor Trust
Te Clothworkers’ Foundation
Kering Foundation
List Family Foundation
Te Emmanuel Kaye Foundation
Te Rank Foundation
Te Waterloo Foundation
Te Talent Fund
Donor-Advised Fund: Sherwood Forest
3,000
98,000		 RESTRICTED
FUNDS
£
1,129
-
-
19,353
7,000
-
4,329
3,000
-
-
-
-
-
33,682
506
1,906,855
800,000
366,142
270,000
275,000
200,000
200,000
80,448
-
30,000
25,000
20,000
15,000
-
4,188,445		 TOTAL
2021
£
77,139
42,730
23,500
19,353
7,000
7,000
4,329
3,000
-
-
-
-
-
106,912
566
1,906,855
800,000
366,142
300,000
275,000
220,000
200,000
80,448
45,000
30,000
25,000
20,000
15,000
3,000
4,286,445		 TOTAL
2020
£
61,919
-
-
40,110
396
-
-
-
30,000
5,000
9,721
1,000
54
86,281
4,224
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

33

ROSA ANNUAL REPORT: 2020-2021

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

2. INCOME CONT.

2. INCOME CONT.
CHARITIABLE ACTIVITIES
Supply of Service under Contract
INVESTMENTS
Interest Receivable
TOTAL INCOME		 UNRESTRICTED
FUNDS
£
3,400
806
251,506		 RESTRICTED
FUNDS
£
3,728
-
4,227,490		 TOTAL
2021
£
7,128
806
4,478,996		 TOTAL
2020
£
-
3,188
155,612

*Restricted Gift Aid related to the Covid Emergency Fund.

3. GOVERNMENT GRANTS

3. GOVERNMENT GRANTS
TOTAL TOTAL
2020 2019
£ £
DCMS Tampon Tax Grant –
Te Women Trive Fund 1,906,855 -

34

ROSA ANNUAL REPORT: 2020-2021

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

4. EXPENDITURE

ACTIVITIES
UNDERTAKEN
DIRECTLY
£
38,436
133,652
110,955
39,391
283,998
322,434
Raising Funds
Charitable Activities
Investing in Change
Championing and Infuencing
Connecting
Total Expenditure
SUPPORT COSTS
Staff Costs
Outsourced Finance and Accounting
Premises
Ofce Running Costs
Audit Fee
Legal and Professional Fees
Trustee Meeting Costs and Recruitment
Other Support Costs		 GRANT FUNDING
OF ACTIVITIES
(NOTE 5)£
-
1,698,547
-
-
1,698,547
1,698,547
GOVERNANCE
FUNCTION
£
10,452
3,205
-
-
1,560
11,790
500
98
27,605		 SUPPORT
COSTS
£
1,858
88,580
5,364
1,904
95,848
97,706
GENERAL
SUPPORT
£
12,049
11,903
18,824
20,627
-
-
-
6,698
70,101		 TOTAL
2021
£
40,294
1,920,779
116,319
41,295
2,078,393
2,118,687
TOTAL
2021
£
22,501
15,108
18,824
20,627
1,560
11,790
500
6,796
97,706		 TOTAL
2020
£
46,448
809,522
75,955
42,753
928,230
974,678
TOTAL
2020
£
14,774
9,755
30,434
15,538
1,440
20,884
4,119
1,771
98,715

Support costs relate to the staff and running costs of the charity’s London office and are allocated on a basis consistent with the use of resources.

5. GRANT FUNDING OF ACTIVITIES

Voices from the Front Line (1)
UK Justice and Equality Fund Programme (2)
Cummins Foundation (3)
Covid-19 Response Fund (Small Grants) (4)
Covid-19 Emergency Fund for BME Women’s Organisations (5)		 TOTAL 2021
£
2,000
9,250
7,448
1,046,741
633,108
1,698,547		 TOTAL 2020
£
129,610
421,851
45,000
-
-
596,461

Grants paid to institutions have been made in line with charitable objects as outlined in the Annual Report.

(1,2,3,4,5) Grants payable under the Grants Programmes are detailed below:

35

ROSA ANNUAL REPORT: 2020-2021

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

(1) Grants payable under the Voices from the Front Line Grants Programme:
Alliance for Choice Belfast
Argyl and Bute Rape Crisis Centre
Baobab Women’s Project C.I.C.
BAWSO (Black African Women Step Out)
Bright Futures
Chester Sexual Abuse Support Service
Deaf Ethnic Women’s Association
Devon Rape Crisis and Sexual Abuse Services
Excel Women’s Association
FTWW (Fair Treatment for the Women of Wales)
Girls Friendly Society
Glasgow and Clyde Rape Crisis Centre
Kering for Capacity building to the grantees
La Dolce Vita Project
Muslim Women’s Sport Foundation
Phoebe
Rape Crisis Tyneside and Northumberland
Rivers LPC
Te Empower Project Kering
Te Growing Club CIC
Te Happy Baby Community
Te Magpie Project
Te Motherhood Project CIC
Women’s Budget Group
Women’s Resource Centre
Women’s Voice
(2) Grants payable under the UK Justice and Equality Fund Programme:
Agenda
Centre for Women’s Justice
Chwarae Teg
Close the Gap
End Violence Against Women and Girls (EVAW)
Fawcett Society
Imkaan
Rape Crisis Scotland (Scottish Women’s Rights Centre)
Rights of Women
Welsh Women’s Aid
Women for Refugee Women
Women’s Resource & Development Agency - WRDA		 2021
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2,000
-
-
-
-
-
-
-
2,000
2020
£
-
-
-
-
5,000
4,250
-
-
-
-
-
-
9,250		 2020
£
4,750
5,000
4,920
4,900
4,800
5,000
5,000
3,100
4,800
5,000
5,000
4,500
6,000
9,200
5,000
4,500
5,000
5,000
4,640
4,500
5,000
5,000
4,000
5,000
5,000
5,000
129,610
2019
£
39,628
14,636
62,564
53,515
-
69,627
37,800
15,150
34,256
39,429
12,990
42,256
421,851

36

ROSA ANNUAL REPORT: 2020-2021

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

(3) Grants payable under the Cummins Foundation Grants Programme:
Women’s Resource Centre
4) Grants payable under the Covid-19 Response Fund (Small Grants)
Programme:
4Wings Northwest CIC
Angels of Hope for Women
Argyll and Bute Rape Crisis
Ashdon Jazz Academy
Baby Basics
BelEve UK
Community Network Group CIC
Craft Collective
Diaspora African Women’s Support Network
Diyya Project
Dostiyo Asian Women and Girls Organisation
Dynamic Support of Greater Manchester
Enfeld Saheli
Feathers Futures CIO
First Step
Fourth Action
FTWW (Fair Treatment for the Women of Wales)
GAGE CIC (Goodaz Gold Events)
Gilgal Birmingham
GirlDreamer Ltd
Giving Life Opportunities to Women
Goldstar Creative Marketing
Granby Somali Women’s Group
Heart & Parcel
Hillingdon Women’s Centre
Hull Sisters
Inspiring Futures Partnership CIC (Inspire Women Oldham)
International Women’s Association Doncaster
KairosWWT
Kosmos Centre
La Dolce Vita Project
Lesbian Immigration Support Group
Lighthouse
Migrant Family Support
Mother and Child Welfare Organisation
Mums4aChange CIC		 2021
£
7,448
2021
£
18,000
5,000
17,604
17,420
13,264
17,960
18,000
1,500
17,533
18,000
17,900
17,059
17,527
13,968
14,052
17,756
18,000
17,953
15,295
17,000
13,000
18,000
18,000
16,995
16,198
18,000
13,265
10,000
8,024
18,000
9,360
10,980
18,000
15,293
17,884		 2020
£
45,000
2020
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

37

ROSA ANNUAL REPORT: 2020-2021

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

4) Grants payable under the Covid-19 Response Fund (Small Grants)
Programme (continued):
Muslim Sports Foundation
Muslim Womens Council
North Wales Women’s Centre
Nottingham Muslim Women’s Network
Pandora Project
Phoebe
Positive Changes (Scotland) CIC
Positive Steps Community Centre
Refugee Women’s Association
Rivers LPC
Rotherham Mothers for Justice
Rubies
Shefeld Women’s Counselling and Terapy Service (Safron Shefeld)
Sahara Project (Preston) Ltd
Sandwell African Women Association
Skills and Training Network
South Liverpool Domestic Abuse Services
Street Talk
Sunbeams London Ltd
Swan Women’s Centre
Tassibee
Teen Action
Te Feel Good Womens Group
Te Growing Club CIC
Te Happy Mums Foundation CIC
Te Homeless Period - Wolverhampton
Te Hull Lighthouse Project
Te Motherhood Plan CIC
Te Root MHSF CIC
TifnWalli CIC
Time to Heal
Torbay Women’s Circle
Turkish Cypriot Women’s Project
Wight Dash
Winchester Pregnancy Crisis Centre
WomenAfterGreatness (WAG)		 2021
£
10,000
18,000
14,698
16,405
11,264
18,000
15,307
8,938
9,980
18,000
9,677
16,367
13,201
16,491
17,735
17,742
18,000
10,200
17,954
13,134
18,000
17,168
17,986
10,232
13,910
13,000
5,395
11,604
16,704
9,300
15,000
13,000
16,408
11,646
3,600
14,500
1,046,741		 2020
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

38

ROSA ANNUAL REPORT: 2020-2021

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

5) Grants payable under the Covid-19 Emergency Fund Grants
Programme for BME Women’s Organisations:
African Women’s Care
African Youth Development Association
Anah Project
Apna Hag
Baobab Women’s Project CIC
Granby Somali Women’s Group
Halo Project
Hemat Gryfe Women’s Aid
Humraaz
Kiran Support Services
KWISA
Latin American Women’s Aid Refuge
Middle Eastern Women and Society Organisatio
Nottinghma Muslim Women’s Network
Panahghar
Phoebe
Refugee Women of Bristol
Rochdale Women’s Welfare Association
Roj Women Association (RWA)
Roshni Birmingham
Saheli
Shakti Women’s Aid
Sistah Space
Sister System
Te Angelou Centre
Te Sharan Project
Utulivu Women’s Group		 2021
£
14,562
7,302
34,922
18,748
20,000
20,000
26,600
20,000
32,344
35,000
19,000
34,900
19,968
19,703
34,250
20,000
15,142
18,750
19,880
31,470
34,890
35,000
20,000
7,292
33,893
19,492
20,000
633,108		 2020
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

39

ROSA ANNUAL REPORT: 2020-2021

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

6. TANGIBLE FIXED ASSETS

Cost
At 1 April 2020
Additions
At 31 March 2021
Depreciation
At 1 April 2020
Charge in the year
At 31 March 2021
Net book value
At 31 March 2021
At 31 March 2020		 COMPUTER
EQUIPMENT
£
9,720
3,441
13,161
5,763
3,584
9,347
3,814
3,957		 FURNITURE
& FIXTURES
£
5,654
-
5,654
2,828
1,885
4,713
941
2,826		 TOTAL
£
15,374
3,441
18,815
8,591
5,469
14,060
4,755
6,783
7. DEBTORS
Amounts falling due in:
Grants receivable and gift aid income
Other debtors and prepayments		 < 1 YEAR
2,450,492
14,234
2,464,726		 > 1 YEAR
67,986
-
67,986		 2021
£
2,518,478
14,234
2,532,712		 2020
£
307,916
14,233
322,149
8. CREDITORS
Amounts falling due in:
Grants payable
Trade creditors
Other creditors		 < 1 YEAR
705,850
26,880
4,752
737,482		 > 1 YEAR
3,694
-
-
3,694		 2021
£
709,544
26,880
4,752
741,176		 2020
£
789,434
2,875
2,585
794,894

40

ROSA ANNUAL REPORT: 2020-2021

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

9. MOVEMENT IN FUNDS
Unrestricted funds
General Fund
Restricted Funds
Voices from the Front Line
Cummins Foundation
UK Justice and Equality Fund
Covid-19 Response Fund
Fondation Chanel
Corston Leadership Funders
Covid-19 Emergency Fund
BME Phase 1
Covid-19 Emergency Fund
BME Phase 2
Restricted Core Costs
Te Women Trive Fund
Te Reclaim Tese Streets Fund
TOTAL FUNDS
PRIOR YEAR DETAIL
Unrestricted funds
General Fund
Restricted Funds
Voices from the Front Line
Woman to Woman
Cummins Foundation
UK Justice and Equality Fund
Covid-19 Response Fund
Fondation Chanel
Corston Leadership Funders
10 Years, 10 Stories, 10 Challenges
TOTAL FUNDS		 AT 01
APRIL 2020
£
80,861
29,631
283,505
466,547
22,000
60,386
5,112
-
-
-
-
-
867,181
948,042
AT 01
APRIL 2019
£
169,379
-
-
445,596
1,003,862
-
135,728
10,168
-
1,595,354
1,764,733		 INCOME
£
251,506
80,448
-
7,000
1,006,425
-
-
722,142
475,000
25,000
1,910,583
892
4,227,490
4,478,996
INCOME
£
46,529
85,831
-
-
1,252
22,000
-
-
-
109,083
155,612		 EXPENDITURE
£
(66,783)
(14,687)
(114,099)
(47,374)
(1,103,092)
(44,063)
(2,467)
(679,775)
(3,686)
(25,000)
(15,478)
(2,183)
(2,051,904)
(2,118,687)
EXPENDITURE
£
(98,283)
(157,445)
(1,050)
(101,000)
(538,567)
-
(68,808)
(5,056)
(4,469)
(876,395)
(974,678)		 GAINS/
(LOSSES)
£
-
(4,411)
-
-
-
(3,162)
-
-
-
-
-
-
(7,573)
(7,573)
GAINS/
(LOSSES)
£
-
-
-
3,909
-
-
(1,534)
-
-
2,375
2,375		 TRANSFERS
£
(13,041)
-
(95,000)
-
95,000
-
-
-
-
-
11,750
1,291
13,041
-
TRANSFERS
£
(36,764)
101,245
1,050
(65,000)
-
-
(5,000)
-
4,469
36,764
-		 AT 31
MARCH 2021
£
252,543
90,981
74,406
426,173
20,333
13,161
2,645
42,367
471,314
-
1,906,855
-
3,048,235
3,300,778
AT 31
MARCH 2020
£
80,861
29,631
-
283,505
466,547
22,000
60,386
5,112
-
867,181
948,042

41

ROSA ANNUAL REPORT: 2020-2021

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

10. FUND DESCRIPTIONS AND TRANSFERS BETWEEN FUNDS

Purposes of Restricted Funds and movement in funds:

42

ROSA ANNUAL REPORT: 2020-2021

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

11. STAFF COSTS AND NUMBERS

11. STAFF COSTS AND NUMBERS
Salaries
Tax and Social Security
Pension		 2021
£
156,738
10,354
7,772
174,864		 2020
£
143,154
9,657
6,562
159,373

The average number of full-time equivalent employees during the year was 4 (2020: 3). The average number of employees during the year was 5 (2020: 4). No employees received emoluments in excess of £60,000 during the year. The Trustees consider key management personnel to include the Executive Director, for whom total compensation to two employees in post during the year amounted to £62,326 (2020: £77,531).

12. PENSIONS

The Charity operates a defined contribution, auto-enrolment pension scheme with The Peoples Pension. All staff are eligible, and the Charity pays a 5% employer’s contribution in addition to any personal contribution made by the staff themselves.

Pension costs stated in note 11 and charged in the statement of Financial Activities represent the total contributions payable by the Charity in the year.

43

ROSA ANNUAL REPORT: 2020-2021

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

13. TRUSTEES’ REMUNERATION AND EXPENSES

The Charity did not pay any remuneration to its Trustees during the year (2020: £Nil).

The Charity paid Trustees expenses for fulfilling their duties to the Charity as follows:

2021 2020
£ £
Travel and Subsistence - 712
Total number of Trustees paid expenses - 3

14. RELATED PARTY TRANSACTIONS

None.

15. FINANCIAL COMMITMENTS

At the year end, the Charity had total commitments under non-cancellable operating leases as follows:

Less than one year:
Rent (2 month notice period)
Total		 2021
£
4,800
4,800		 2020
£
4,800
4,800

4 4

ROSA ANNUAL REPOR T= 2020-2021 45

ROSA FUND, UNITED HOUSE 4TH FLOOR, NORTH ROAD LONDON, N7 9DP

CHARITY NUMBER: 1124856 COMPANY NUMBER: 06598018