**CHARITY REGISTRATION NUMBER: 1159568** 

## **ROSE CASTLE FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS** 

## **FOR THE YEAR ENDED 31 DECEMBER 2023** 


## **David Allen** 

Chartered Accountants & Statutory Auditor Dalmar House Barras Lane Estate Dalston Carlisle CA5 7NY 



## **ROSE CASTLE FOUNDATION** 

## **CONTENTS** 

|Trustees' report|1 to 14|
|---|---|
|Independent auditor's report|15 to 18|
|Statement of financial activities|19 to 20|
|Balance sheet|21|
|Cash flow statement|22|
|Notes to the financial statements|23 to 36|





## **ROSE CASTLE FOUNDATION** 

## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

|**Trustees**|Right Reverend Bishop J Newcome (Co-chair)|
|---|---|
||Professor D Ford (Co-chair)|
||Dr S Burgess|
||Mr B Thompson|
||Mr C Townsend|
||Mr J Casson (Resigned 15 December 2022)|
|**Charity Registration Number**|1159568|
|**Principal Office**|Rose Castle Farm Cottage|
||Dalston|
||Carlisle|
||CA5 7BY|
|**Auditor**|David Allen|
||Chartered Accountants & Statutory Auditor|
||Dalmar House|
||Barras Lane Estate|
||Dalston|
||Carlisle|
||CA5 7NY|
|**Bankers**|CAF Bank Ltd|
||25 Kings Hill Avenue|
||West Malling|
||Kent|
||ME19 4TA|



**- 1 -** 



## **ROSE CASTLE FOUNDATION** 

## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2023. 

## **OBJECTIVES AND ACTIVITIES** 

## **The vision:** 


In a world that is fractured by toxic division and disconnection, Rose Castle Foundation’s (RCF) vision is for a global network of reconciling leaders actively transforming conflict within their spheres of influence. This network will grow until every community around the world is equipped through all levels of their leadership to cross divides and manage disagreement well, able to live harmoniously with those around them in light of their differences rather than despite them. This network will inspire a movement of reconcilers who model the 'Rose Way', a holistic approach to crossing divides and disagreeing well within their own particular contexts. They lead as transformed individuals from the inside out, reimagining their relationship with others and with the environment. 

**The mission:** ‘To equip tomorrow’s leaders to transform conflict’. 

## **Charitable objects:** 

To promote religious harmony for the benefit of the public by: 

• Supporting communities experiencing faith-based conflict by providing a safe space in which to meet face-to-face; 

• Connecting people of different faiths and/or no faith through a range of methods including, but not limited to, dialogue and residential programmes; 

• Promoting regional, international and religious conflict resolution (including conflicts within religious groups); 

• Advancing education in conflict resolution and reconciliation and different religious beliefs, including an awareness of the distinctive features of religious beliefs; and 

• Promoting and providing education and practical training on stewardship of the earth and sustainable living, including ensuring that the activities of the charity are conducted with due consideration to environmental sustainability and biodiversity conservation. 

## **The Rose Castle Foundation core values:** 

• Community: built on trust, personal relationships and genuine care where each member grows freely and holistically. 

• Humility: an openness and curiosity towards brave encounters and learning in equal measure from our weaknesses and strengths. 

• Risk-taking: a spirit of initiative and innovation that respects differences and invites collaboration. 

• Integrity: a commitment to practice habits of reconciliation in our own contexts and to model a sustainable approach to the environment. 

• Reflection: a mindful approach to the rhythms and grounding nature of prayer or daily reflection, which roots us to our distinctive beliefs and values. 

During the year under review, RCF delivered a number of reconciliation trainings and programmes, which varied in length from 1 to 6 days. 

**- 2 -** 



## **ROSE CASTLE FOUNDATION** 

## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 


RCF is a charitable incorporated organisation and received its charity registration on 10 December 2014. 

Trustees are recruited on the basis of their professional and other skills, and to strengthen the capacity and diversity of the Board. They receive on-the-job training, using the guidelines prepared by the Charity Commission. The day to day running of the Foundation is carried out under the direction of RCF’s Founding Director. 

The trustees have met four times through the year to deliver strong governance and financial management. The trustees also provide valuable practical support for different aspects of RCF’s operations, including ensuring robust financial controls and reporting systems are in place, developing fundraising capacity and joining staff training. Trustees meet regularly with the Founding Director and staff members to discuss progress and offer advice. 

## **ACHIEVEMENTS AND PERFORMANCE** 

## **Growing the impact of international peace and reconciliation** 

The Rose Castle Foundation is a UK charity co-chaired by Professor David Ford, Regius Professor of Divinity (Emeritus) at the University of Cambridge and Rt Reverend Bishop James Newcome. Registered in 2014, as a charitable incorporated organisation (CIO) in England and Wales, RCF builds on the public inter-faith engagement developed by the Cambridge Interfaith Programme at the University of Cambridge, which included facilitating the practice of Scriptural Reasoning and hosting annual summer schools for emerging faith leaders from contexts of conflict. 

## **The Rose Way** 

Disagreement, misunderstanding and divisions exist at every level of society - within individuals, our families, communities, institutions and nations. While healthy disagreement contributes to innovation and change, destructive fractures tear lives and communities apart. Today’s communities and institutions need the skills, motivation and experience to navigate conflict in ways that build resilience and contribute to societal flourishing. 

We work with emerging leaders who are motivated by their faith and moving into positions of influence across societal divides. We equip them to lead through change, chaos and conflict, not just today but for the long term. They learn with those on the other side of their divides, re-humanising those they no longer see or hear, and working towards a more peaceful future where both sides flourish - one in which their differences still matter. This is something we call ‘deep-to-deep’ encounter. In a carefully facilitated space, in which nobody is asked to leave their faith or ideology at the door, searching questions can be explored because it feels natural and safe to do so. This depth of interaction draws out vital common ground, but, more importantly, allows space to understand our differences. Instead of seeking shallow agreement, it enables a better quality of disagreement. This focus on difference as well as common ground, with space to explore and articulate our faith or ideological motivations, makes the Rose Way unique. Our programmes bring this approach to life, with an enduring package of support that leaders can draw on as they become key decision makers across challenging divides. 

**- 3 -** 



## **ROSE CASTLE FOUNDATION** 

## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

We are a team of peacebuilding practitioners, facilitators, and theologians. We partner with universities, senior faith leaders, faith-based organisations, governments, and the UN. We work closely with respected religious scholars from diverse denominations who help us to ensure our approach is grounded in sacred texts and traditions. We have strong networks in the carefully selected countries where we work, enabling us to identify, convene and journey alongside the next generation of leaders across both sides of a divide. We stay with them as they become key decision-makers and a reconciling presence in the context in which they live. 

## **Sharing Learning** 

How the world engages with faith and difference to transform conflict is one of the biggest opportunities emerging leaders face. We will contribute by equipping them and demonstrating the value of the Rose Way in the countries where we work. We place a strong emphasis on capturing what we learn - both to constantly refine and invest in the Rose Way and to share its wider implications with others. We work with policy makers, religious leaders and other peacebuilding organisations who have a shared interest in strengthening approaches to reduce and prevent conflict. 

## **Rose Way Pedagogy** 

The Rose Way pedagogy has been developed and iterated over the past decade in a variety of communities, sectors and cultures. RCF has positioned itself as an ‘innovator’ which works with our partners to first pilot, test and refine our pedagogy; and then to identify ways to deliver it at scale across our 4 four pools of learning: universities, seminaries, houses of worship and faith based non-governmental organisations (NGOs) and networks. In the last year we have begun to invest more deeply in our organisational learning culture and exploring what scaling at depth, breadth and height could bring to our partnerships, and the sectors we serve. 

## **Our offering** 

Participants on the Rose Way complete a three part journey of formation: 

## **Prepare:** Equip leaders to disagree well 

We prepare leaders for a deeper face-to-face encounter across divides. By the end of this stage, they will understand: 

- How to create hospitable spaces and welcome others who are different or difficult to engage. 

- The need to respect difference, not just common ground. 

- Ways in which they and others are shaped by our faith and cultural identities; and 

- How this strengthens our capacity to disagree well. 

This is a bespoke package of support tailored to the needs of participants and their particular contexts. For many who have faced hurt and trauma this includes structured space for lament and restoration. 

## **Encounter:** Live and learn together 

This is typically a 5 day residential experience living out the reality of disagreeing well - discovering that it is indeed possible to live honestly and openly with people who are very different to ourselves. The ‘Encounter’ experience is a pivotal moment in the lives of emerging leaders. Each ‘Encounter’ is a carefully facilitated journey through the following stages: 

**- 4 -** 



## **ROSE CASTLE FOUNDATION** 

## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

• My Story: An opportunity to reflect on our own experience, including the lenses through which we see disagreement and conflict. 

• Your Story: Listening to the very different experience of others; re-humanising those we misunderstand or rarely meet; and developing practical tools to enable a better quality of disagreement. 

• Letting Go: Breaking the endless cycle of revenge by choosing not to retaliate but rather journey towards restorative justice and consider the role of truth-telling and forgiveness. 

• Our Story: Re-imagining what a future might look like where everyone can flourish, and how to enact it. 

## **Underpinning all this are three core areas of learning:** 

• Conflict transformation skills: We train leaders to ask questions and explore answers from the depths of their own faith and cultural context. They learn practical skills in conflict transformation including - facilitation, mediation, negotiation and other forms of non-violent communication. In doing so, they learn to navigate difference, better understand themselves as well as others, and grow the kind of trust that underpins a more sustainable peace. 

• Scriptural Reasoning: Many of our emerging leaders are formed by a sacred text tradition which frames their belief and action today. We do not ask them to leave this at the door - rather to engage it in their dialogue and action with others. 

• The 12 Habits of a Reconciler: These are characteristics we have consistently observed in outstanding reconcilers in the midst of conflict. We are partnering with respected Muslim, Christian, Jewish and other practitioners and scholars to draw from long traditions of applying these Habits across different communities and cultures. The habits underpin all our work and support the formation of leaders today, in their personal journey as reconcilers, equipping them to act across divides in the contexts where they live and work. 

The Encounter programmes are characterised by a culture of pastoral care that welcomes people to bring their whole selves into a shared space. It includes; generous hospitality, eating and living life together; rhythms of prayer and time spent in scripture; reflection in peaceful natural surroundings; and fireside chats, learning from peacebuilding elders/experts and one another. This combination of support builds communities of practice, trust, long-lasting relationships and changes in behaviour that underpin each leader's long-term formation. 

## **Act:** Lifelong support to emerging leaders. 

Reconciliation is an ongoing process and our formation as reconcilers is a lifelong journey. We offer tailored support to emerging leaders as they return to their home and work contexts and rise to positions of growing influence across divides. This includes: 

• Further training across the three pillars of conflict transformation skills; Scriptural Reasoning; and the 12 Habits of a Reconciler. 

• An interactive and innovative digital platform - ‘Rose Reconcilers’ - that connects our global network of leaders, enabling them to share best practice, continue training, and learn from the latest research and evidence. 

**- 5 -** 



## **ROSE CASTLE FOUNDATION** 

## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

## **A Christian Wisdom of Reconciliation Project** 

We have recently begun a partnership with the McDonald Agape Foundation ‘A Christian Wisdom of Reconciliation: Twelve Habits’ project. This project will be essential to developing the intellectual property of the Twelve Habits of a Reconciler and deepening their theological underpinnings. It will also pioneer and develop a new intra-Christian, inter-ecclesial, practice which we are calling Christian Biblical Reasoning (CBR) which involves bringing individuals from different traditions together in shared scriptural study. 

Initially the project will involve a series of eight colloquia with leading scholars drawn from across four UK universities (Cambridge, Oxford, Durham and Aberdeen) during the spring and summer of 2024 and then a symposium in the Autumn which synthesises the findings and determines the next steps. The papers and transcripts of the colloquia we hope will feed into a published book, A Christian Wisdom of Reconciliation: Twelve Habits, the publication of journal articles, and the development of online materials and programme resources to accompany this, encouraging further knowledge transfer and outreach work. 

## **Achievements and performance over the year** 

Rose Castle Foundation’s work in 2023 at a glance:- 

We worked with 31 partner organisations to equip 1,565 reconcilers from 8 religions. This included:- 

• 699 reconcilers engaged through 44 Rose Way residential and online programmes, from 29 different countries from Christian, Muslim, Jewish, Buddhist, Hindu and other faith traditions. 

• 138 reconcilers from Christian, Muslim, Jewish and Ba’hai traditions, and from countries that included the UK, USA, Oman, Canada, Lebanon, Indonesia and Egypt, joined Scriptural Reasoning workshops online and in-person. 

• 728 reconcilers engaged in specific workshops organised by Rose Castle Foundation. 

• Our Founding Director, Sarah Snyder spoke at a number of events engaging with at least 1,500 leaders in the field of reconciliation. 

• 195 reconcilers signed up to the Rose Reconcilers Hub. 

• A team of volunteers donated a total of 345 hours of hospitality and pastoral care support during programmes, as well as in office-based roles to support RCF’s staff team. 

This is a significant increase in our activity on previous years and encouragingly includes both repeat bookings with existing partners and exciting new opportunities. 

Here is a description of a small selection of these activities:- 

## **1. Rose Way residential and online programmes** 

## **Universities** 

• We continued our long-standing partnership with Princeton University to support better dialogue across divides on campus. Our work helps equip the Princeton Rose Castle Society to model and facilitate difficult conversations on campus - to disagree well, model empathy and value crossing challenging divides on campus and in wider society. The Society hosts dialogues and dinners to encourage the wider student body to engage. Each of these trainings is equipping student leaders across campus within different spheres of influence to become reconciling leaders in their contexts. 

**- 6 -** 



## **ROSE CASTLE FOUNDATION** 

## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

• Working with OxPeace, based out of Oxford University we ran an introduction to the Rose Way and Reconciliation session. 

• With Durham University we launched the first of our round tables for the Christian Wisdom of Reconciliation project, that draws together academic conversation partners and inspire them to help us deepen the theological underpinnings of the 12 Habits of a Reconciler. 

• LSE Faith Centre and RCF partnered together on a Women of Faith in Peacebuilding Programme that brought together Israeli and Palestinian women, to look at the role of storytelling in peace processes. 

## **Seminaries** 

• Odyssey Fellows programme where we took the same fellow cohort from 2022 to Egypt for a deep immersion experience. This group of fellows are American seminarians and pastors exploring racial challenges of working in and beyond the church in the US context. 

• The Virginia Theological Seminary has a vision to be a significant Hub for Scriptural Reasoning. The Rose Castle Foundation is supporting this journey, including another iteration of our Facilitator Training programme. 

## **Churches** 

• Our journey of support with the Church of the Heavenly Rest New York continued, with our engagement with a staff retreat, reflecting on stillness and forgiveness as a church community. 

• We began supporting the Anglican Church of Bermuda with a training for clergy and lay people around facilitating difficult conversations. 

• A series of events to launch the Habits with churches in New York, Long Island and Washington. The purpose was to better understand their needs and share some of our approach to conflict transformation. 

• We delivered a “Journey of Hope” module for North American church leaders and seminarians, in partnership with Reconcilers Together. 

• With Trinity Church Indianapolis, we supported their young people and congregants with an introduction to the Habits. 

• For the Episcopal Service Corps, based across the United States, we partnered with their residential community groups to run an introduction to reconciliation and disagreeing well residential programme. 

• Working with Tearfund, we gathered 12 frontline Christian peacebuilders, pastors, and community leaders from Ukraine, Kyrgyzstan, Moldova, and Myanmar for a week at Rose Castle. A space for restoration to reflect and build community. 

**- 7 -** 



## **ROSE CASTLE FOUNDATION** 

## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

## **Community leaders and Youth** 

• Emerging Peacemakers Forum: 49 Peacebuilders from 22 different countries, gathered together in Geneva in partnership with Muslim Council of Elders and World Council of Churches for 10 days. As a flagship programme for these organisations, RCF led the first 4 days of content and facilitation; and worked closely to support these participants for the duration of the programme. 

• Emerging Peacemakers Programme: 26 students aged 14-17 from New York City, Birmingham, London and Carlisle came together at Patterdale Hall for a week for an Encounter programme. Participants were drawn from Christian, Muslim and Jewish faith traditions, from 8 core partners. We were also joined by 10 alumni from the 2022 programme, who worked with the Open University on video projects. 

• We continued to support L8 (Toxteth) a better Place with space for restoration and equipping to enable them to engage in challenging dialogues across divides in their community. This included a session on Photovoice and support with Scriptural Reasoning. 

• We worked with the National Cathedral School on a Youth Peacebuilders Programme. This included 13 students and 3 chaperones from the National Cathedral school, running a 4-day encounter programme at YHA Borrowdale and Rose Castle to explore their differences and approaches to reconciling leadership. 

## **Scriptural Reasoning** 

Scriptural Reasoning remains at the heart of Rose Castle Foundation’s work. It forms a central pillar in our programmes and is often a standalone activity for communities shaped by sacred text traditions. We equip facilitators to lead the practice of Scriptural Reasoning and as an introduction to Rose Castle Foundations wider work. For example, in 2023 we ran:- 

• Scriptural Reasoning Facilitator Training for the UK Senior Fellows Leadership Programme at Windsor Castle. 

• Scriptural Reasoning for Cambridge University, Magdalene College. 

• Scriptural Reasoning Facilitator Training with Virginia Theological Seminary. 

## **2. Events and speaking engagements** 

We are committed to sharing what we are learning from over 30 years’ experience, about how to engage with faith, difference and spaces for relationship building in order to cross difficult divides. We place a strong emphasis on capturing what we learn from our innovative approach to crossing divides - both about what works and what does not - and then sharing it so that we can collaborate with others to support society in bridging destructive divides. 

**- 8 -** 



## **ROSE CASTLE FOUNDATION** 

## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

A selection of these events includes: 

• PeaceTech Conference in San Francisco, run by the Council on Technology and Social Cohesion. 

• Templeton Religion Trust conference on “Forgiveness: Interdisciplinary Perspectives” co-hosted by Harvard’s Memorial Church and the Human Flourishing Program at Harvard’s Institute for Quantitative Social Science. 

• Cairo book fair sharing about the impact of working with RCF and an alumni led Emerging Peacemakers Forum session on the habits. 

- Leeds Trinity University for International Women’s Day as a keynote speaker. 

- Gathering Core Partners for 2-days at Rose Castle for feedback and learning on our content. 

- Speaking at Marlborough College to their student body about the importance of peace work. 

• Celebrating the Network for Religious and Traditional Peacebuilders 10th anniversary and sharing our work. 

• Gathering of faith leaders from different traditions in Bermuda to discuss the future of interfaith engagement. 

• Convening to share the Rose Way with colleges of Cambridge, to better understand their needs and hopes for regarding interfaith engagement and navigating difference. 

• Supporting the Episcopal Diocese of New York to think through their response to the Israel Palestine crisis as clergy and church leaders. This was provided through a series of online meetings. 

## **3. Support to Rose Castle Foundation alumni** 

An important aspect of our approach - the Rose Way - is the recognition that reconciliation and the journey as a reconciler are ongoing processes that require continual support and investment. Our commitment to provide ongoing flexible support to reconcilers is central to the Rose Way and an area in which we slowly are building our capability. 

In 2023, RCF continued to use the Rose Reconciler Hub to provide a platform to facilitate training, connection and support for alumni. We hosted a range of workshops in Scriptural Reasoning, celebrated stories, created spaces for alumni to interact and for peer-to-peer support, and began to share a wider range of resources to support them in their journey as faith formed reconcilers. 

Additional to the digital space, we began to invite back alumni to facilitate on programmes, in order to deepen their experience, skills and networks. Building up this faculty is also an opportunity to invest in our capacity to facilitate programmes, and learn from a wide range of experiences. 

The Founding Director delivered online reconciliation training for Women on the Frontline (an initiative of the Archbishop of Canterbury); spoke at international conferences and symposiums on the role of religious actors in peacebuilding and reconciliation, and facilitated dialogues convening governmental and non-governmental leaders in the field of peace-building. 

**- 9 -** 



## **ROSE CASTLE FOUNDATION** 

## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

## **Organisational capacity** 

The work of RCF is made possible by an active team of trustees, staff and volunteers. Trustees and staff benefited from the input of external experts in a voluntary capacity, including a highly experienced business advisory group, which offers regular input on strategic and operational growth and financial sustainability. Volunteers are an integral part of RCF’s staff team and the volunteer base remains healthy and engaged. These volunteers freely give their time and talents to support all facets of RCF’s work. Volunteers are recruited to specific roles and are supported by dedicated staff within the RCF team. 

## **Rose Castle** 

RCF operates from rented offices in the grounds of Rose Castle in Cumbria. The castle estate is itself owned, maintained and operated by Rose Castle Company (a limited company that does not pay dividends to shareholders). The castle underwent a full renovation programme throughout 2020 and 2021 and re-opened in 2022. Rose Castle Company provides use of the castle to a range of groups on a commercial basis, with trading proceeds deployed to maintain the fabric and operating costs of the castle on an ongoing, sustainable basis. It is mutually envisaged that RCF’s residential reconciliation programmes will be one of the regular users of Rose Castle. 

## **Partners:** 

Here are some of our partners with whom we continue to enjoy long and trusted relationship: 

## **Peace-building field: governmental and non-governmental organisations:** 

- Kalam Research, across Middle East and North Africa 

- Lambeth Palace, Archbishop of Canterbury’s Reconciliation Team 

- Muslim Council of Elders 

- Network for Religious and Traditional Peacemakers 

- Religions for Peace International 

- Omani Ministry of Endowments and Religious Affairs, now led by one of our former alumni, Sheikh 

- Mohamed Al Mamari 

- Al Amana Centre, Oman 

- Centre for Christian-Muslim Partnership and Understanding, Egypt 

- South Asian Institute of Peace and Reconciliation, India 

- St George’s Cathedral and College, Jerusalem 

- Strength in Diversity Development Centre, Nigeria 

- Wilton Park 

**- 10 -** 



## **ROSE CASTLE FOUNDATION** 

## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

## **Faith-based organisations:** 

- Anglican Communion 

- The Episcopal Diocese of New York 

- National Cathedral Washington DC 

- Faith in Leadership 

- St Ethelburga’s Centre for Peace and Reconciliation 

- Coventry Cathedral 

- Liverpool Cathedral 

- Corrymeela 

- Place for Hope 

- Iona Community 

- All Angels, Church of the Heavenly Rest, St Michael’s and other houses of worship 

## **Research/Educational Institutions:** 

- Cambridge Interfaith Programme, UK 

- Cambridge University Colleges 

- Cambridge Muslim College 

- Durham University, UK 

- Dev Sanskriti Vishwavidyalaya, India 

- Harvard University Divinity School and Chaplaincy, USA 

- Hartford International University, USA 

- LSE Faith Centre, UK 

- National Cathedral School, USA 

- Odyssey Seminary Network 

- Princeton University 

- StoryTent 

- St Mary’s School, Cambridge 

- Virginia Theological Seminary, USA 

- Winchester University (Centre for Peace-building), UK 

- Woolf Institute, Cambridge 

We also enjoy longer term partnerships with a number of faith-based communities through trainings and alumni development. 

## **A thank you to our donors, supporters and volunteers** 

The achievements of RCF over the year would not have been possible without the generosity of our donors, supporters and volunteers. We are immensely grateful for all that they provide, whether through financial donations, time shared volunteering, wisdom, encouragement or prayer. This generosity, in whatever form and however large or small, has a significant cumulative impact on the ability of RCF to deliver its mission. 

**- 11 -** 



## **ROSE CASTLE FOUNDATION** 

## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

## **Review of the Year** 

During the year under review, Rose Castle Foundation experienced an increase in demand for its support - in part due to changes in the global geo-political context and in part as the Foundation’s reputation and credibility continues to grow. We delivered a wide range of activities with a growing focus on multi-year deep partnerships and greater emphasis on how we measure the impact of our support. 2023 represents really encouraging progress towards our charitable aims as our network of reconcilers continued to grow, our toolkit improves and we increase our capacity to capture and share our learning. 

The unrestricted deficit for the year was £32,361 (2022: deficit £9,846). The restricted surplus for the year was £38,209 (2022: deficit £46,144). Reserves have increased in the year from £117,048 to £122,896 of which £25,475 was unrestricted and £97,421 was restricted. 

## **Risk Analysis** 

The major risks to which RCF is exposed have been identified and reviewed. A summary of the major risks to RCF and their mitigating controls is held on a risk register, which is reviewed annually by the trustees. 

## **Reserves Policy** 

The trustees have agreed the reserves policy after taking into account planned activity for the year. The purpose of the reserves is to enable RCF to continue with the delivery of core services during a period of unforeseen difficulty or financial uncertainty; to provide an appropriate period to replace funding that has been withdrawn or is no longer available; or to ensure that RCF can meet overhead costs in the event of severe reduction in the organisation’s charitable services, or in the event of closure of the charity. 

The trustees have agreed that a suitable level of reserves to meet the reserves policy is £50,000. At the year end the charity held reserves totalling £122,896 (2022: £117,048) of which £97,421 (2022: £59,212) were restricted reserves and £25,475 (2022: £57,836) were unrestricted reserves. 

## **Public benefit** 

The trustees, in setting their objectives, have had due regard to the public benefit guidance issued by the Charity Commission. 

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. 

**- 12 -** 



## **ROSE CASTLE FOUNDATION** 

## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

## **FINANCIAL INSTRUMENTS** 


The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. 

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows. 

The charity’s principal financial assets are bank balances and cash, trade and other receivables. 

The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. 

The credit risk on liquid funds is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. 

The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers. 

Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements. 

## **PLANS FOR FUTURE PERIODS** 

In 2024 we will continue to grow our network of reconcilers, focussing on new multi-year partnerships with organisations who are keen to work together towards our vision. We hope this will include partnerships with large Trusts and Foundations who recognise the relevance and innovative value of the Rose Way and it’s effectiveness in equipping tomorrow’s leaders today. We will have a stronger focus on how we capture and communicate the impact of our work and how we can move towards a more flexible, predictable and longer term funding model. 

**- 13 -** 



## **ROSE CASTLE FOUNDATION** 

## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** 

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 

The law applicable to charities 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

## **DISCLOSURE OF INFORMATION TO AUDITOR** 

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware. 

Approved by the trustees of the charity on 24 July 2024 and signed on its behalf by: 

......................................... Right Reverend Bishop J Newcome Trustee 

......................................... Professor D Ford Trustee 

**- 14 -** 



## **ROSE CASTLE FOUNDATION** 

## **INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ROSE CASTLE FOUNDATION FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **OPINION** 

We have audited the financial statements of Rose Castle Foundation (the 'charity') for the year ended 31 December 2023, which comprise the Statement of financial activities, Balance sheet, Cash flow statement, 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 United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the charity's affairs as at 31 December 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Charities Act 2011. 

## **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 Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity 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** 

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **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 auditor’s report 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. 

**- 15 -** 



## **ROSE CASTLE FOUNDATION** 

## **INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ROSE CASTLE FOUNDATION (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023** 

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 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** 

In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report. 

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion: 

- the information given in the trustees' report is inconsistent in any material respect with the financial statements; or 

- sufficient accounting records have not been kept; or 

- the financial statements are not in agreement with the accounting records; or 

- we have not received all the information and explanations we require for our audit. 

## **RESPONSIBILITIES OF TRUSTEES** 

As explained more fully in the Statement of Trustees' Responsibilities set out on page 14, the trustees 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 charity'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 charity or to cease operations, or have no realistic alternative but to do so. 

## **AUDITOR RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS** 

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 

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 an auditor’s report 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. 

**- 16 -** 



## **ROSE CASTLE FOUNDATION** 

## **INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ROSE CASTLE FOUNDATION (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023** 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

Our audit procedures were designed to respond to those identified risks, including non-compliance with laws and regulations (irregularities) and fraud that are material to the financial statements. Our audit procedures included but were not limited to: 

• Discussing with the Trustees and Management their policies and procedures regarding compliance with laws and regulations; 

• Communicating identified laws and regulations throughout our engagement team and remaining alert to any indications of non-compliance throughout our audit; and 

• Considering the risk of acts by the charity which were contrary to the applicable laws and regulations, including fraud. 

Our audit procedures in relation to fraud included but were not limited to: 

• Making enquiries of the Trustees and Management on whether they had knowledge of any actual, suspected or alleged fraud; 

• Gaining an understanding of the internal controls established to mitigate risks related to fraud; 

• Discussing amongst the engagement team the risks of fraud; and 

• Addressing the risks of fraud through management override of controls by performing journal entry testing. 

We are not responsible for detecting fraud and preventing non-compliance and cannot be expected to detect all fraud and non-compliance with all laws and regulations. The primary responsibility for the prevention and detection of irregularities including fraud rests with both the Trustees and Management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls. 

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. 

## **USE OF OUR REPORT** 

This report is made solely to the charity trustees, as a body, in accordance with section 145 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 trustees those matters we are required to state to trustees in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees as a body, for our audit work, for this report, or for the opinions we have formed. 

**- 17 -** 



## **ROSE CASTLE FOUNDATION** 

## **INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ROSE CASTLE FOUNDATION (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023** 

...................................... ALISON WELTON (Senior Statutory Auditor) For and on behalf of David Allen Chartered Accountants & Statutory Auditor 

Dalmar House Barras Lane Estate Dalston Carlisle CA5 7NY 

Date: 24 July 2024 

David Allen is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. 

**- 18 -** 



## **ROSE CASTLE FOUNDATION** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023** 

|||||||**Total**||**Total**|
|---|---|---|---|---|---|---|---|---|
|||**Unrestricted**||**Restricted**||**2023**||**2022**|
||**Note**|**£**||**£**||**£**||**£**|
|**Income from:**|||||||||
|Donations, legacies and|||||||||
|grants receivable|2|182,601||106,000||288,601||168,657|
|Charitable activities|3|234,169||-||234,169||229,372|
|Investment income|4|1,401||-||1,401||474|
|Total income||418,171||106,000||524,171||398,503|
|**Expenditure on:**|||||||||
|Raising funds|5|(10,332)||-||(10,332)||(3,106)|
|Charitable activities|6|(480,849)||(27,142)||(507,991)||(451,387)|
|Total expenditure||(491,181)||(27,142)||(518,323)||(454,493)|
|Net (expenditure)/income||(73,010)||78,858||5,848||(55,990)|
|Gross transfers between|||||||||
|funds||40,649||(40,649)||-||-|
|Net movement in funds||(32,361)||38,209||5,848||(55,990)|
|**Reconciliation of funds**|||||||||
|Total funds brought forward||57,836||59,212||117,048||173,038|
|Total funds carried forward|16|25,475||97,421||122,896||117,048|



**- 19 -** 



## **ROSE CASTLE FOUNDATION** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

|||||||**Total**|
|---|---|---|---|---|---|---|
|||**Unrestricted**||**Restricted**||**2022**|
||**Note**|**£**||**£**||**£**|
|**Income from:**|||||||
|Donations and legacies|2|159,336||9,321||168,657|
|Charitable activities|3|229,372||-||229,372|
|Investment income|4|474||-||474|
|Total income||389,182||9,321||398,503|
|**Expenditure on:**|||||||
|Raising funds|5|(3,106)||-||(3,106)|
|Charitable activities|6|(425,922)||(25,465)||(451,387)|
|Total expenditure||(429,028)||(25,465)||(454,493)|
|Net expenditure||(39,846)||(16,144)||(55,990)|
|Gross transfers between funds||30,000||(30,000)||-|
|Net movement in funds||(9,846)||(46,144)||(55,990)|
|**Reconciliation of funds**|||||||
|Total funds brought forward||67,682||105,356||173,038|
|Total funds carried forward|16|57,836||59,212||117,048|



All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 and 2022 is shown in note 16. 

**- 20 -** 



## **ROSE CASTLE FOUNDATION** 

## **BALANCE SHEET AS AT 31 DECEMBER 2023** 

|||**2023**||**2022**|
|---|---|---|---|---|
||**Note**|**£**||**£**|
|**Fixed assets**|||||
|Tangible assets|13|290||469|
|**Current assets**|||||
|Debtors|14|1,905||62,194|
|Cash at bank and in hand||176,678||115,888|
|||178,583||178,082|
|**Creditors: Amounts falling due within one year**|15|(55,977)||(61,503)|
|**Net current assets**||122,606||116,579|
|**Net assets**||122,896||117,048|
|**Funds of the charity:**|||||
|**Restricted**||97,421||59,212|
|**Unrestricted income funds**|||||
|Unrestricted||25,475||57,836|
|**Total funds**|16|122,896||117,048|



The financial statements on pages 19 to 36 were approved by the trustees, and authorised for issue on 24 July 2024 and signed on their behalf by: 

......................................... Right Reverend Bishop J Newcome Trustee 

......................................... Professor D Ford Trustee 

**- 21 -** 



## **ROSE CASTLE FOUNDATION** 

## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023** 

|||**2023**||**2022**|
|---|---|---|---|---|
||**Note**|**£**||**£**|
|**Cash flows from operating activities**|||||
|Net cash income/(expenditure)||5,848||(55,990)|
|**Adjustments to cash flows from non-cash items**|||||
|Depreciation|5|479||3,151|
|Investment income|4|(1,401)||(474)|
|||4,926||(53,313)|
|**Working capital adjustments**|||||
|Decrease/(increase) in debtors|14|60,289||(46,055)|
|Increase in creditors|15|8,159||5,927|
|(Decrease)/increase in deferred income||(13,685)||715|
|Net cash flows from operating activities||59,689||(92,726)|
|**Cash flows from investing activities**|||||
|Interest receivable and similar income|4|1,401||474|
|Purchase of tangible fixed assets|13|(300)||-|
|Net cash flows from investing activities||1,101||474|
|Net increase/(decrease) in cash and cash equivalents||60,790||(92,252)|
|Cash and cash equivalents at 1 January||115,888||208,140|
|Cash and cash equivalents at 31 December|18|176,678||115,888|



All of the cash flows are derived from continuing operations during the above two periods. 

**- 22 -** 



## **ROSE CASTLE FOUNDATION** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **1 ACCOUNTING POLICIES** 

## **Statement of compliance** 

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. 

## **Basis of preparation** 

Rose Castle Foundation meets the definition of a public benefit entity under FRS 102. The accounts (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. Monetary amounts in these financial statements are rounded to the nearest £. 

## **Going concern** 

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. 

## **Income** 

Donations and legacies are recognised on a cash basis when the funds are received. 

Grants are recognised when the charity has entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released. Where entitlement to a grant occurs before income is received, the income is accrued. 

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when: 

- The donor specifies that the grant or donation must only be used in future accounting periods; or - The donor has imposed conditions which must be met before the charity has unconditional entitlement. 

Investment income is accounted for in the year in which it is received. 

**- 23 -** 



## **ROSE CASTLE FOUNDATION** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

## **1 ACCOUNTING POLICIES (continued)** 

Income from charitable activities is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability. 

Grants of a revenue nature are recognised in other income within the Statement of Financial Activities in the same period as the related expenditure. 

## **Expenditure** 

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs. 

These are costs incurred in attracting voluntary income and those incurred in trading activities that raise funds. 

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. 

## **Governance costs** 

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses. 

## **Taxation** 

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charity for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 

**- 24 -** 



## **ROSE CASTLE FOUNDATION** 

**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

## **1 ACCOUNTING POLICIES (continued)** 

## **Tangible fixed assets** 

Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 

## **Depreciation and amortisation** 

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: 

## **Asset class** 

Office equipment 

**Depreciation method and rate** 25% Straight line 

## **Trade debtors** 

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. 

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. 

## **Cash and cash equivalents** 

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. 

## **Trade creditors** 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. 

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. 

## **Foreign exchange** 

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. 

## **Fund structure** 

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity. 

**- 25 -** 



## **ROSE CASTLE FOUNDATION** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

## **1 ACCOUNTING POLICIES (continued)** 

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. 

## **Pensions and other post retirement obligations** 

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the statement of financial activities in the period to which they relate. 

## **Financial instruments** 


Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. 



All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. 

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. 

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party. 

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. 

**- 26 -** 



## **ROSE CASTLE FOUNDATION** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

## **2 INCOME FROM DONATIONS, LEGACIES AND GRANTS RECEIVABLE** 

|||**Unrestricted**||||**Total**||**Total**|
|---|---|---|---|---|---|---|---|---|
|||**General**||**Restricted**||**2023**||**2022**|
|||**£**||**£**||**£**||**£**|
|Donations, legacies and grants|||||||||
|receivable;|||||||||
|Donations and grants|||||||||
|receivable||182,601||106,000||288,601||168,657|
|||182,601||106,000||288,601||168,657|
|**3 INCOME FROM CHARITABLE **||**ACTIVITIES**|||||||
|||||**Unrestricted**|||||
|||||**funds**||**Total**||**Total**|
|||||**General**||**2023**||**2022**|
|||||**£**||**£**||**£**|
|Courses and training|||||||||
|||||234,169||234,169||229,372|
|**4 INVESTMENT INCOME**|||||||||
|||||**Unrestricted**||**Total**||**Total**|
|||||**General**||**2023**||**2022**|
|||||**£**||**£**||**£**|
|Bank interest receivable||||1,401||1,401||474|
|**5 EXPENDITURE ON RAISING **||**FUNDS**|||||||
|**a) Costs of generating donations and legacies**|||||||||
|||||**Unrestricted**|||||
|||||**funds**||**Total**||**Total**|
|||||**General**||**2023**||**2022**|
|||||**£**||**£**||**£**|
|Donations||||10,332||10,332||3,106|



**- 27 -** 



## **ROSE CASTLE FOUNDATION** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

## **6 EXPENDITURE ON CHARITABLE ACTIVITIES** 

||**Unrestricted**|||||||
|---|---|---|---|---|---|---|---|
||**funds**||**Restricted**||**Total**||**Total**|
||**General**||**funds**||**2023**||**2022**|
||**£**||**£**||**£**||**£**|
|Programme costs|-||12,409||12,409||200|
|Programme costs|123,907||-||123,907||151,029|
|Staff costs|-||-||-||8,535|
|Staff costs|278,398||-||278,398||222,395|
|Advertising|-||-||-||2,269|
|Consultants and research costs|18,537||14,450||32,987||17,559|
|Computer costs|3,582||-||3,582||6,850|
|Telephone|819||-||819||716|
|Printing, postage and stationery|657||-||657||340|
|Training|96||-||96||200|
|Travelling and subsistence|-||283||283||229|
|Travelling and subsistence|21,180||-||21,180||7,685|
|Professional fees|14,341||-||14,341||15,238|
|Premises and related costs|-||-||-||92|
|Premises and related costs|10,693||-||10,693||11,815|
|Cleaning|-||-||-||273|
|Bank charges|360||-||360||199|
|Depreciation of office equipment|479||-||479||3,150|
|Accountancy|2,400||-||2,400||1,353|
|Audit fees|5,400||-||5,400||1,260|
||480,849||27,142||507,991||451,387|



**- 28 -** 



## **ROSE CASTLE FOUNDATION** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

## **7 ANALYSIS OF GOVERNANCE AND SUPPORT COSTS** 

## **Support costs allocated to charitable activities** 

|**Support costs allocated to charitable activities**||||
|---|---|---|---|
||**Total**||**Total**|
||**2023**||**2022**|
||**£**||**£**|
|Governance costs|7,800||2,613|
|Information technology|3,583||6,850|
|Human resources|14,340||15,438|
|Administration costs|657||1,056|
|Establishment costs|11,512||11,907|
|Other support costs|33,826||23,486|
||71,718||61,350|



The governance costs for the above two periods relate to audit and accountancy fees. 

## **Governance costs** 

||**Unrestricted**|||||
|---|---|---|---|---|---|
||**funds**||**Total**||**Total**|
||**General**||**2023**||**2022**|
||**£**||**£**||**£**|
|Audit fees||||||
|Audit of the financial statements|5,400||5,400||1,260|
|Other fees paid to auditors|2,400||2,400||1,353|
||7,800||7,800||2,613|



## **8 NET INCOMING/OUTGOING RESOURCES** 

Net incoming/(outgoing) resources for the year include: 

|Net incoming/(outgoing) resources for the year include:|||
|---|---|---|
||**2023**|**2022**|
||**£**|**£**|
|Audit fees|5,400|1,260|
|Other non-audit services|2,400|1,353|
|Depreciation of fixed assets|479|3,150|



**- 29 -** 



## **ROSE CASTLE FOUNDATION** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

## **9 TRUSTEES' REMUNERATION AND EXPENSES** 

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. 

No trustees have received any reimbursed expenses or any other benefits from the charity during the year. 

## **10STAFF COSTS** 

The aggregate payroll costs were as follows: 

|The aggregate payroll costs were as follows:||||
|---|---|---|---|
||**2023**||**2022**|
||**£**||**£**|
|**Staff costs during the year were:**||||
|Wages and salaries|248,425||211,674|
|Social security costs|20,392||11,302|
|Pension costs|9,581||7,955|
||278,398||230,931|



The monthly average number of persons (including senior management team) employed by the charity during the year was as follows: 

|||||**2023**|**2022**|
|---|---|---|---|---|---|
|||||**No**|**No**|
|Average|number|of|employees|7|9|



No employee received emoluments of more than £60,000 during the year. 

The total employee benefits of the key management personnel of the charity were £96,669 (2022 - £59,322). 

The Founding Director, during 2022, was paid a reduced salary, the equivalent of 1 day per week, which increased during 2023 to 2 days, then 4 days per week, hence the increase in employee benefits of key management personnel. 

## **11AUDITOR'S REMUNERATION** 

||||||**2023**||**2022**|
|---|---|---|---|---|---|---|---|
||||||**£**||**£**|
|Audit|of|the|financial|statements|5,400||1,260|



**- 30 -** 



## **ROSE CASTLE FOUNDATION** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

## **12TAXATION** 

The charity is a registered charity and is therefore exempt from taxation. 

## **13TANGIBLE FIXED ASSETS** 

|**13TANGIBLE FIXED ASSETS**|||||||
|---|---|---|---|---|---|---|
|||**Office**|||||
|||**equipment**|||**Total**||
|||**£**|||**£**||
|**Cost**|||||||
|At 1 January 2023||12,611|||12,611||
|Additions||300|||300||
|At 31 December 2023||12,911|||12,911||
|**Depreciation**|||||||
|At 1 January 2023||12,142|||12,142||
|Charge for the year||479|||479||
|At 31 December 2023||12,621|||12,621||
|**Net book value**|||||||
|At 31 December 2023||290|||290||
||||||||
|At 31 December 2022||469|||469||
||||||||
|**14DEBTORS**|||||||
|||**2023**|||**2022**||
|||**£**|||**£**||
|Trade debtors||1,000|||-||
|Prepayments and accrued income||-|||52,165||
|VAT recoverable||905|||10,029||
|||1,905|||62,194||



**- 31 -** 



## **ROSE CASTLE FOUNDATION** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

## **15CREDITORS: amounts falling due within one year** 

|**15CREDITORS: amounts falling due within one year**||||
|---|---|---|---|
||**2023**||**2022**|
||**£**||**£**|
|Trade creditors|3,602||9,015|
|Other taxation and social security|8,902||4,303|
|Accruals|11,373||2,400|
|Deferred income|32,100||45,785|
||55,977||61,503|
||**2023**||**2022**|
||**£**||**£**|
|Deferred income at 1 January 2023|45,785||45,070|
|Resources deferred in the period|32,100||45,785|
|Amounts released from previous periods|(45,785)||(45,070)|
|Deferred income at year end|32,100||45,785|



Deferred income amounts are for income received for programmes which are due to take place in the next financial year. 

**- 32 -** 



## **ROSE CASTLE FOUNDATION** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

## **16FUNDS** 

|**16FUNDS**|||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||**Balance**||||||||||||||**Balance**||
||**at 1**||||||||||||||**at 31**||
||**January**||||||||||||||**December**||
||**2023**||**Income**|||**Expenditure**|||||**Transfers**||||**2023**||
||**£**|||**£**||||**£**||||**£**|||**£**||
|**Unrestricted funds**|||||||||||||||||
|Unrestricted funds|57,836||418,171||||(491,181)|||||40,649|||25,475||
|**Restricted funds**|||||||||||||||||
|Global Covenant of Religions|||||||||||||||||
|fund|9,899||||-|||(14,250)||||4,351|||-||
|Story Tent|3,063|||1,500||||(900)||||||-|3,663||
|Emerging Peacemakers|||||||||||||||||
|Programme||-||7,000||||(7,000)||||||-|-||
|E L Rathbone Trust|1,250||||-|||(1,250)||||||-|-||
|John Snyder|45,000|||25,000|||||-||(45,000)||||25,000||
|Christian Wisdom Reconciliation||-||72,500||||(3,742)||||||-|68,758||
|**Total restricted funds**|59,212||106,000|||||(27,142)|||(40,649)||||97,421||
|**Total funds**|117,048||524,171||||(518,323)|||||||-|122,896||
|||||||||||||||**Balance at**|||
||**Balance at**||||||||||||||**31**||
||**1 January**|||||||||||||**December**|||
||**2022**|**Income**|||**Expenditure**||||**Transfers**||||||**2022**||
||**£**||**£**||||**£**||||**£**||||**£**||
|**Unrestricted funds**|||||||||||||||||
|Unrestricted funds|67,682||389,182|||(429,028)|||||30,000||||57,836||
|**Restricted**|||||||||||||||||
|Global Covenant of|||||||||||||||||
|Religions fund|28,472|||-|||(18,573)||||||-||9,899||
|Story Tent|634||9,321||||(6,892)||||||-||3,063||
|E L Rathbone Trust|1,250|||-||||-|||||-||1,250||
|John Snyder|75,000|||-||||-|||(30,000)||||45,000||
|**Total restricted funds**|105,356||9,321||||(25,465)||||(30,000)||||59,212||
|**Total funds**|173,038||398,503|||(454,493)|||||||-||117,048||



**- 33 -** 



## **ROSE CASTLE FOUNDATION** 

**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

## **16FUNDS (continued)** 

Unrestricted funds consists of the General Fund which meets the day to day running expenses of the foundation. 

Restricted funds consists of: 

Reduce religion-related violence and promote peace and reconciliation across the world. 

Donation received for Scriptural Reasoning initiatives in primary schools. 

## Emerging Peacemakers Programme 

This represents two restricted grants received from The Hadfield Trust and Cumbria Community Foundation towards the Emerging Peacemakers Programme. 

Grant received towards delivering cost of conflict resolution course to Toxteth residents. 

## John Snyder 

Donations received to cover the on-going core costs of the Charity through planned organisational growth by Mr John Snyder. 


A partnership with the McDonald Agape Foundation to facilitate ‘A Christian Wisdom of Reconciliation: Twelve Habits’ project. 

**- 34 -** 



## **ROSE CASTLE FOUNDATION** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

## **17ANALYSIS OF NET ASSETS BETWEEN FUNDS** 

|||||||**Total funds**|
|---|---|---|---|---|---|---|
|||**Unrestricted**||||**at 31**|
|||**funds**||**Restricted**||**December**|
|||**General**||**funds**||**2023**|
|||**£**||**£**||**£**|
|Tangible fixed assets||290||-||290|
|Current assets||81,162||97,421||178,583|
|Current liabilities||(55,977)||-||(55,977)|
|Total net assets||25,475||97,421||122,896|
||**Unrestricted**||||||
|||**funds**||**Restricted**||**Total funds**|
|||**General**||**funds**||**2022**|
|||**£**||**£**||**£**|
|Tangible fixed assets||469||-||469|
|Current assets||118,870||59,212||178,082|
|Current liabilities||(61,503)||-||(61,503)|
|Total net assets||57,836||59,212||117,048|
|**18ANALYSIS OF NET FUNDS**|||||||
|||||||**At 31**|
|||**At 1 January**||**Financing**||**December**|
|||**2023**||**cash flows**||**2023**|
|||**£**||**£**||**£**|
|Cash at bank and in hand||115,888||60,790||176,678|
|Net debt||115,888||60,790||176,678|



## **19RELATED PARTY TRANSACTIONS** 

During the year the charity had the following related party transactions: 

## **Footprints Education Limited** 

(Mr John Snyder and Mrs Sarah Snyder are directors) 

During the year bookkeeping services of £10,868 (2022 - £3,968) were paid to Footprints Education Limited. At the balance sheet date the amount due to Footprints Education Limited was £534 (2022 - £Nil). 

**- 35 -** 



## **ROSE CASTLE FOUNDATION** 

**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)** 

## **19RELATED PARTY TRANSACTIONS (continued)** 

## **Mr John Snyder** 

(Husband of Mrs Sarah Snyder (Charity founding director)) During the year a donation of £25,000 (2022 - £Nil) was received from Mr John Snyder to support ongoing core costs of the foundation. At the balance sheet date the amount due to to Mr John Snyder was £Nil (2022 - £Nil). 

## **Mrs Sarah Snyder** 

(Charity founding director) During the year a donation of £25,000 (2022 - £Nil) was received from Mrs Sarah Snyder to support ongoing core costs of the foundation. At the balance sheet date the amount due to to Mrs Sarah Snyder was £Nil (2022 - £Nil). 

## **Rose Castle Company Limited** 

(Mr John Snyder and Mrs Sarah Snyder are directors) 

During the year rent of £7,200 (2022 - £7,200) and accommodation and venue hire of £56,669 (2022 - £67,033) was billed from Rose Castle Company Limited. At the balance sheet date the amount due to Rose Castle Company Limited was £1,932 (2022 - £Nil). 

**- 36 -**