2022-10-31-accounts

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022 FOR ROSE EDUCATION FOUNDATION LIMITED

Registered number: 06408695 (England and Wales) Charity number: 1126903

LYONS & CO LTD

CHARTERED ACCOUNTANTS

STOCKTON-ON-TEES

ROSE EDUCATION FOUNDATION LIMITED

FINANCIAL STATEMENTS YEAR ENDED 31 OCTOBER 2022

COMPANY INFORMATION

Directors:	Mr M K Dimmock
	Mrs M Dimmock
Secretary:	Mr M K Dimmock
Charity number:	1126903
Company number:	06408695
Independent Examiners:	Lyons & Co Ltd
	Chartered Accountants
	23 Yarm Road
	Stockton on Tees
	TS18 3NJ
Bankers:	HSBC
	136 High Street
	Stockton on Tees
	TS18 1LR
Registered office:	Fast Track House
	Pearson Way
	Thornaby
	Stockton on Tees
	TS17 6PT

ROSE EDUCATION FOUNDATION LIMITED

FINANCIAL STATEMENTS YEAR ENDED 31 OCTOBER 2022

CONTENTS

	Page
Directors and Trustees Report	1 - 2
Independent Examiners Report	3
Statement of Financial Activities	4
Balance sheet	5
Notes to the financial statements	6 to 8
Detailed statement of financial activities	9

1

ROSE EDUCATION FOUNDATION LIMITED

DIRECTOR'S AND TRUSTEES REPORT YEAR ENDED 31 OCTOBER 2022

Annual Report and Financial Statements

The trustees, some of whom are also directors for the purposes of the Companies Act, have pleasure in presenting their report and the unaudited financial statements of the charity for the year ended 31 October 2022.

Legal Status

Rose Education Foundation Limited is a registered charity, a company limited by guarantee and is governed by its Memorandum and Articles of Association. It was registered as a charity on 25 November 2008.

Objectives

The charities main objectives are to:

• Support the development of life skills of the 11 - 19 year age in the Durham Tees Valley area.

• Enhance development opportunities for the 11 - 19 year age in the Durham Tees Valley area including advancing education, relieving unemployment and providing recreational leisure time activities in the interests of social welfare.

• Help alleviate poverty through education in third world and developing countries.

• Provide scholarships to deprived students overseas to enable them to study in the UK.

Trustees and Directors

Trustees who held this position at any time during the year were:

Mr Maurice Dimmock Mrs Margaret Dimmock Mr P Spence Mr A Burns

The charity is actively seeking new trustees who can be appointed by existing trustees at anytime. Relevant training and induction is provided. An aim of the charity in the forthcoming year is to expand the number and skill ranges of trustees. When grant applications are considered a meeting is held with at least one trustee and with external advisors and decisions are made on providing grants.

Achievements and Performance

The charity received various requests for grants from a wide range of organisations during the year and after careful consideration made grants ranging from £300 to £5,000. These were made mainly to Christian Groups or church-based organisations.

The foundation is working hard to make organisations aware that grants are available.

2

ROSE EDUCATION FOUNDATION LIMITED

DIRECTOR'S AND TRUSTEES REPORT YEAR ENDED 31 OCTOBER 2022

Achievements and Performance (Cont/d)

A range of charitable donations were made during the year. See note 4 to the accounts.

Financial Review

Donations of £52,521 were received during the year and grants totalling £40,951 were made. The charity is considering various ways to advertise the availability of grants to beneficiaries and hopes more organisations will take up applications in the coming year.

Public Benefit Statement

The charity trustees confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties.

Auditors

The directors consider that the charity is exempt from an audit, therefore no auditors have been appointed during the year.

Registered office

13 Yarm Road Stockton On Tees England TS18 3NJ

Approved by the trustees on and signed on their behalf by

Mrs M Dimmock Director

INDEPENDENT EXAMINERS REPORT TO THE BOARD OF DIRECTORS

ON THE UNAUDITED FINANCIAL STATEMENTS OF ROSE EDUCATION FOUNDATION LIMITED

YEAR ENDED 31 OCTOBER 2022

We report on the accounts for the year ended 31 October 2022 set out on pages four to nine

Respective responsibilities of trustees and examiner

The charity's trustees (some of whom are also the directors for the purposes of company law responsible for the preparation of the accounts. The charity's trustees consider that an audit required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act) and that independent examination is required.

Having satisfied myself that the charity is not subject to audit under company law and is eligi independent examination, it is our responsibility to:

• examine the accounts under Section 145 of the 2011 Act

• to follow the procedures laid down in the General Directions given by the Charity Commiss (under Section 145 (5)(b) of the 2011 Act): and

• to state whether particular matters have come to my attention.

Basis of the independent examiner's report

Our examination was carried out in accordance with the General Directions given by the Cha Commission . An examination includes a review of the accounting records kept by the charit a comparison of the accounts presented with those records. It also includes consideration o 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 th would be required in an audit, and consequently no option is given as to whether the account present a 'true and fair view' and the report is limited to those matters set out in the statemen below.

Independent examiner's statement

In connection with our examination, no matter has come to our attention:

• (1) which gives us reasonable cause to believe that, in any material respect, the requirement

• to keep accounting records in accordance with Section 386 and 387 of the Companies Act and

• to prepare accounts which accord with the accounting records, comply with the accounting of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles o Statement of Recommended Practice: Accounting and Reporting by Charities

have not been met: or

(2) to which, in our opinion, attention should be drawn in order to enable a proper understand the accounts to be reached.

Lyons & Co Ltd 23 Yarm Road Stockton-on-Tees TS18 3NJ

24 July 2023

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4

ROSE EDUCATION FOUNDATION LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING AN INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 OCTOBER 2022

Unrestricted Notes £ Incoming resources Voluntary Income 2 51,351 Investment Income 3 39 Total incoming resources 51,390 Resources expended Charitable Activities 4 43,956 Governance Costs 924 Total resources expended 44,880 Net movement in funds 6,510 Total funds brought forward 78,597 Total funds carried forward 85,107 2022 Funds	Restricted £ £ £ 1,170 52,521 4,220 - 39 8 1,170 52,560 4,228 800 44,756 20,143 - 924 876 800 45,680 21,019 370 6,880 (16,791) 698 79,295 96,086 1,068 86,175 79,295 Funds 2022 2021 Total Funds 2022 Total Funds

5

ROSE EDUCATION FOUNDATION LIMITED

BALANCE SHEET AS AT 31 OCTOBER 2022

Notes Fixed Assets Tangible assets 7 Current assets Cash and bank Creditors:amounts falling due within one year 8 Net assets Funds Restricted Unrestricted Total funds 9	2022 £ - 87,099 87,099 (924) 86,175 1,068 85,107 86,175	2021 £ 232 79,963 79,963 (900) 79,295 698 78,597 79,295

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Trustees on 24 July 2023 and were signed on its behalf by:

Mrs M Dimmock Director

Company no: 06408695

6

ROSE EDUCATION FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 OCTOBER 2022

1 Accounting policies

Basis of accounting

The financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and under the historical cost accounting rules.

Turnover

Turnover represents all income to the business, the majority of which is donations but also from the sale of works.

Incoming resources

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Resources expended

Expenditure is accounted for on an accrual 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 resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Fixtures and fittings 25% reducing balance

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can be only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2 Voluntary Income Donations ADL Kriangkrai Pattaya Just Giving Kelly ASIC Global Ltd Others	Unrestricted Funds 2022 £ 600 - 741 - 50,000 10 51,351	Restricted Funds 2022 £ - 1,170 - - - - 1,170	Total Funds 2022 £ 600 1,170 741 - 50,000 10 52,521	Total Funds 2021 £ 600 1,475 932 1,000 - 213 4,220

7

ROSE EDUCATION FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 OCTOBER 2022

3 Investment Income Bank interest receivable 4 Charitable activities Unrestricted Grants paid out during the year include: Sotpattana School for the Deaf Teaching support for Sotpattana Steel River Crafts Lighthouse centre Community development work Synergy Teesside for The Exchange Portrack Baptist Church Other costs including overheads Restricted Pattaya Orphanage	2022 £ 39 2022 £ 8,472 12,479 5,000 - 5,000 5,000 5,000 40,951 3,005 43,956 800 800	2021 £ 8 2021 £ 1,000 11,940 5,000 300 - - - 18,240 900 19,140 1,003 1,003

The £8,472 paid to Sotpattana School for the deaf includes £5,000 paid to Asic Global Ltd for accreditation fees.

• 5 Net Incoming/(Outgoing) Resources

Net resources are stated after charging: Depreciation - owned assets	2022 £ 232	2021 £ 404

6 Trustees' Remuneration and Benefits

During the year management fees and expenses totalling £296 (2021 - £Nil) were paid to Mr A Burns. There were no trustees' remuneration or other benefits for the year ended 31 October 2022 nor for the year ended 31 October 2021.

8

ROSE EDUCATION FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 OCTOBER 2022

7 Tangible Fixed Assets Cost At 1 November 2021 At 31 October 2022 Depreciation At 1 November 2021 Charge for the year At 31 October 2022 Net book value At 31 October 2022 At 31 October 2021 8 Creditors:amounts falling due within one year Accruals 9 Movements in funds Unrestricted funds Restricted funds	2022 £ 924 924 Net movement At 1/11/21 in funds £ £ 78,597 6,510 698 370 79,295 6,880	Fixtures and fittings £ 7,238 7,238 7,006 232 7,238 - 232 2021 £ 900 900 At 31/10/22 £ 85,107 1,068 86,175

10 Limited By Guarantee

The company has no share capital and is limited by guarantee from its members up to a limit of £1 per member.

11 Related party transactions

During the year the company received donations amounting to £50,000 (2021 - £105) from Asic Global Ltd a company which the directors together own a majority shareholding. Travel and accommodation expenses totalling £1,853 (2021 - £Nil) were paid by the company on behalf of the directors of Asic Global Ltd.

9

ROSE EDUCATION FOUNDATION LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 OCTOBER 2022

Incoming Resources Unrestricted Voluntary income Donations Pattaya Orphanage- Restricted Donations Investment income Deposit account interest Resources Expended Charitable activities unrestricted Grants Travel and accommodation Other costs Fixture and fittings - depreciation Computer and website costs Charitable activities restricted Pattaya Orphanage Governance costs Accountancy Total resources expended Net expenditure	2022 £ 51,351 51,351 1,170 1,170 39 52,560 40,951 1,853 426 232 494 43,956 800 800 924 45,680 6,880	2021 £ 2,745 2,745 1,475 1,475 8 4,228 18,240 - 298 404 198 19,140 1,003 1,003 876 21,019 (16,791)