2022-10-31-accounts

Charity Registration No. 1167144

THE ROSE FOUNDATION

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

(CHARITABLE INCORPORATED ORGANISATION)

THE ROSE FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees	M Rose
	P Rose
	J Rose
	A Rose
Charity number	1167144
Principal address	28 Crawford Street
	London
	W1H 1LN
Independent Auditors	Gerald Edelman LLP
	73 Cornhill
	London
	EC3V 3QQ
Bankers	Barclays Bank
	Level 27
	I Churchill Place
	London
	E14 5HP
Solicitors	David Conway & Co
	St Georges House
	Hanover Square
	London
	W1H 7AL
Investment advisors	Silex Trust Company
	Rue Kleberg 6
	Geneva
	Switzerland

THE ROSE FOUNDATION

CONTENTS

	Page
Statement of Trustees responsibilities	1
Independent auditor's report	2 - 5
Statement of financial activities	6
Balance sheet	7
Statement of cash flows	8
Notes to the accounts	9 - 23

REPORT by the Trustees of THE ROSE FOUNDATION {Reglstered Chadty No.11671441 1•t November 2021- 31it October 2022 The Rose FourKJ81ion Trustees Rewrt for 111112021-31110r2022

STRUCTURE GOVERNANCE AND MANAGEMENT Constitution The Rose Foundation is a charitsble incorpor*d organisaban constituted by a Deed da 12th March 2014. The tnjsl funds are applied lor general charitable purFoses as delennined at the discretion of the TN5tees. b} Organlsatlonal Structure The Trust is administered by a eoard of four unpaid Tnjstees who delennine overall strategy of the projects uTrJertsken and the inveslmènl and contrd of thè Tnjst assets. The Trustees meet fomially three limes a year, bul constantly Consu￿ infomially. The daily affair5 of the Trust are dealt with by an administrator regularty rèports directly to th8 Trusl88s and is assisted by an add￿0nd staff member. The Trustees who seNed duriro the year ￿￿16.. Paul Ros8 Martin Rose John Rose Alan Rose The Board of Trustees as a body can appoint new memb&rs to act on behalf of the charty under the stslulory power given to them, On appoinlrnenl new Trustees are apprised of the constilub'on, financial and all other rglevanl matters appertaining lo the charity. They a￿ also advised as to the ￿￿nSibIlitieS pl￿ed upjn them as Trust8es pursuant to charty law and good Pr￿tiCe. Whère ¢onsKlered necessary appropriate training provided ￿th initially and on an ongoing basis. The wlicy has b88n to continue emFloymenl of Ihe exi5tiNJ staff, lor whose sustsined loyalty the Trustees are very grateful. Amngsl other dulv&5, John Madden continued to undertake extsmal anil intemal rnaintsnance works to the Sl John Ambula￿ project, 81 a significant cost savirq to the employment of an independent contractor. Followng revyaw of the nature and c05t of our legal and ￿Coun￿ncY advise￿, the Twslees continuè to employ them. Of the Twstees, Alan Rose is resident in the United States. but visits the U.K. periodically during wh year and is otherwise advised of and votes wh8r8 necessary on matters arisirrfJ. The Rose Fwndalion Tnjstees Reportfor111112021- 31110r2022

Aside from his insFeC￿nS of UK propcts, Paul Rose visits the United States and inspects the building projects funded by The New Amsterdam CharitJle Foundation. Details of the charrties and organisations wlh vthich the Tnjstees have a close cOn￿Ction in pursuit of Iheircharitsble actimties are given in section 281 tdow. Rl$k As$•s$m?nt The Board has exam1r￿d the principal areas of the Charitys operations and considered the major risks facèd in each of these areas. The review and assessrwl of the position was canièd out in Conjuncb'on with the Foundation's auditors, Mth sFecrfic refere￿e to the intemal controls required, to ensure th8 followng cdteria were mel.'- Comprèhensive strategic planning. Comprehensive budgelirvJ and man&3emenl accounts. Established organisational structurè and linès of reporting. Clear authoriSat￿n and approval prc<edures. In the opinion of the Tnjstees thè Chanty has 8slablish8d suitablè systems which, under rK)mal conditions, should albw these risks lo be mitigated lo an pLceptable k8vel in its da ttrday OFerations. OBJECTNES AND ACTNITIES Donatlon PolScy T￿ grant policy of the Twslees seek510 kenefil as large a numter of people as possible, rather than providing Lqrge donalion51o a srnall s￿e0f￿ group. In line with this policy the charity carries out the folbwing aGtivitie5 for the publ￿ benefit.. The main fttus of the tharily is the provision of financial aSsista￿e aThJ. where helpful, property ￿1vICe lo charitiès requiring assistsnce for their building projects ndertaken forthe publ￿ benefiL tbnalKsns aTe a150 made towards revenue funding of other charities. Di￿t involvement vith other chariti&s via the provision of accommodation, professcnal eXpe￿se and other resources. In setbng our prcgrdmmes going fomard the Trustees have regard to the Charity Comrnission's general guidarKe on put4ic benefiL The Trustees always ensure that the projects we undertak8 are in line vMth our Ch￿Itable obl￿ts and aims. Don'¢Jns are Rose F(yJndation Trustees Rep￿rtf(￿]l1IttO2l- 31110f20T2

considered for the benefit of all classès of chanty. whether made by telephone or in writi'ng. The policy is to reswnd to all appliCats￿$. bl 8ulldlng Projects As stated ab)ve, the man emphasis of our work is lo finance bu1￿1ng propcts for other registered Char￿.￿S. The broaj aim of the Trustee515tO spread the ￿soUrceS so as to tenefit as wide a community a5 possible within b￿Jgetsry Gonslraints. ￿a￿.On5 a￿ usually befv￿en £5,000 and £10,000. These projects are mosuy located in or near L￿)don in order that the Trustees can effectively mnrtor their progress. We maintain a policy of trRcoming invofved vrith the design and construction process, ènsuring wherever possible 6ronomy of cost and effectiveness in design. The Twslees wsh ¢)nly to offer guidance and experience, leaving the final decisions on th8 popct details lo be decided upon by thè ténèfiting charity. Applicants are èncouraged to apply for schemes mling the ab)ve criteria by the end of March each year. The next hvo rnonths are used10 5hortlist projects and we LKsually commlt lo the folloving yearfs schemes around mld-June. We indi¢ale the propd shoukj eilher ommence or be ongoiro during the first seven months of the following year. This enables a sufficient lead tirne for the details of building conslruclion, such as plans and specifications, to be agrd and, rf appropriate. amended. The Trustees are involved throughout the design and con51ruolion process of the projects we assist. Once a project has been completed, review is Garried out lo ensure that all the worts undertaken are in line with the criteria agreed when the commitmenlwas made We seek loensure Ihalfunds have been properfyexpended lo their best effe¢l and that the quality of the buildiThJ works rnee15 our staThdards. The proi8cts to which the Trustees had committed from the prewous year are set out in App&ndix1 of this Report. Commilrnenl lo many of our proie¢ts Is made considerably in adVa￿e of start of constructic￿. During the ¢ourse of the year the Trustee5 resolved to commence a number of additional sc￿r￿ which, logetherwilh the existing commitments identified above and some proj8¢ts whrh we reported as b￿.ng incomplète in Dur report last year, are delaibd in Appendix 2 of this Report. Other Grant Funding Donations are made, to a lesser extent, to other Charit￿5 when lunding is available and d cause is especialty worthwhile. The Rose FoundaK)n Ttustees Rewrt loi111112021- 31110r2022

dl We have a pollcy of supportirwJ charitsbk projects in which we uThJertake a mo(8 dir￿1 role, information regarding which can be fouThJ in the seGb'ons below, namely 'The Sl John Ambularte Trdining Centre., °Anle Natal Results and choice5 {ARCI' and 'The New Amsterdam Chanta￿e Foundation.. Direct Involvement All the Trustees, b)th in the United Kingdom and in the UniteAI Slates, have offered Iheirtime and PTOFerty experience to help other chanti8s. Some ol Ihe assist￿Ce requested has invdved complex propèrty issues. A88l$tsn¢e to othor chariti In the year under review the Truste8s also donated th8ir lim8 lo assist Other charities. fime and advice wetB given lo the Trustees and staff of the following.. )le Marine Laboratory IAlan Rose is a Tnjsteel Mole Marine F¢Jundalv)n (Alan Rose is a Trusleel St Martha Catholic Church (Alan Rose sils on the Parish and the Finance Council) Suncoasl Foundation lor Handicapped Children (Alan Ros8 is a Trusleel Centre for PepLeful Solutions IPaul Rose is a Trusleel Charity ol the Worshipful Company ol Arbrtrators (Paul Rose is both a Trustee and Chai Sl Francis ofAssk8i Catholic Church, Diocese ofweslminster (Paul Rose sits on the Finance Comrnittee) The Wigodei Family Foundation (Martin Rose is a Trusleel Span Trust (Martin Rose is a Tnjslee) The St John Ambulance Centre Wè have recewed this report from SlJohn Ambulance. Sl John Ambulartt is on8 of the most well-known and favourably vwed charibes in the United Kingdom. It is deduled to buildiryJ health resilience in ¢ommunilh?s across the country by teaching aThJ delivering vtsl first aid skills that save lives. Following the disrupb'ons caused by Covhd-19 and the development of new xlivth'es, like v¥cinalion, undertaken to support thè nation's response, StJohn has seen the retum of more traditional activity in 2022. Workplace training and fir51 aid coverat publ￿ events has retumgj in eamest, a leading role played in suppjrting publicto celebrat& the Platinum Jubilee in Jun8 and lo moum the passing of Her Late Majesty, ()Jeen Elizabeth11 in September. We also c81ebrydled the cenlenary of the Cadet programn* through our'year of Youth., as continue lo rebuild our youth pro3rammes ￿￿t-COvid, a￿1 pilot new outr￿h work INHS Rose Found&on Tiustees Ryrt lor111112021- 31ll012022

Cadets, YOUNJ Responder5 and Heallh Cilyzensl for young people less likely lo access first aid and heath careers. Meanwhile supp)rt for under-pressure health serviGes has continued ap￿, with the charty fomally commission8d as the nation'5 aMbUlar￿ auxiliary service during the summer, a fittirwJ legacy lo the contribution made during the pandemic. St John's values ol humanity, excellence, ￿COUn￿bIllty, ￿Sponsibl11ty, and teamwork continue to shape our delivery. The organisalion is lookiro fotward to launchiNJ a new strategy in 2023 Ihal br￿ngS lo life ils wsion for empMritvJ cofflrnunits'es through lrfesawng first aid by continuing to r8-energise Ihe thal presenc& of St John throughout England. The Cra￿Ord Street premises allows St John Ambulan¢e to provide its Mtsl wotkplace and mental health first aid training to around four thousand people in 8 r￿rnal year. The venue has be&n adapted to accommodate the necessary social distanang and Cowd-safe guidelines as they have evolved. It is a vitally important asset lo Sl John Ambulance and the wider London community. Through tts HSE-recognBed 'Firsl Aid al Work, training rx)uTre, St John providès a comprèhensive sel ol practical skills needed by fir51 aiders in rnosl workplaces, giving both the ability and krThledge to deal vrith first aid emergencies. Through lts'mental Hèalth First Aid, courses, St John help raLse awareness of mentsl illness, enabling peopl8 lo support themselves and othets to aid recovèry. Thè courses are designed lo reduce St￿Ma thrO￿h educab'on and inGrea5e the prDwsDn of ¢are for who have a mental illness. Through its youth programmes Sl John leaches young people first aid along with other irnportanl life skills, S[￿h as leadership and developing conhjence, as well as engaging them in sccial action and helping tho local community. Antenatal Results and Cholces (ARC) We have rnc8ived this reportlrom ARC. Antenatal Results and Cholces IARCI: Our work in 2022 ARC'$ work ARC is the only UK-wide chanty providing impartial infomiation and SUPFQrt to women and The R(Ee Frjjndaion Trust￿ Rewrtfor111112021-31110120Z2

couplès through antenalal screening and its consequences. We deal vith a side of family life that is rarely SFoken about. We are here for parents vthen they are given the difficult news frcffl scans or genetic tests that their baby is nol developiThJ as expected, is likely to need treatment after birth or, in some cases, is not ex￿cted lo suNve. We are here lo help make sure they can gather ai the infomation thèy can abjul the kx)ssiLle olrt￿n* for their baby,. we are here for those who may face paSnful decisions about how to ptoceed with the pregnancy and we are here lo help them through ts afterynath of th8ir d8cisions. Along vith our national helpline Iwa plw)ne, email and live chall, ARC offers a number of spe¢ialised support services to those who have been through the agony of ending a p￿gnancY after a prenatal diagnosis, including password-prolected online forums, a UK.wKle ne￿1￿ of trained volunteer peer support8rs and a rang8 of publications. We SUp￿rt those who conb'nue the pregnancy after a diagnosis tw, bul as we deal the almost limitless range of condibons that can b8 detected prenatalty, forongoing support after the baby is bom we signpost parents lo appropnale condition specific support oryanisats'ons, We have very good working relationships with charities s￿h as the Down's Syndrome AsS￿laI.0n, SOFT UK Isupports'ng around Edwards, and Patau's syndromesl and SHINE Isupportj'ng those with spina bffjdal. ARC has always worked in partnership wth heatth care professI￿alS in the fi8hJ. We run an estsbllsh￿I programme of ts3ining days and workshops lo h8lp equip staff to provide high quality individualised carè in %thal can b8 espeoally ¢hallenging circumstancès. ARC is also lortunate las a small organisation Mlh 11 staff - 4 of those full-limel to have a vou with decision-makers. ARC'S Director srts on the Felal malemal and Child Health Coknordinats'ng Group feeding into the UK National Screening Committ88, is a rnember of the NHS Fetsl Anomaly Programme Advisory Group and the NHS England Clinical Referenc8 Group for Specialised Women's Servw. ARC regularfy collaborales on dinical and academK tesearch studies and is sought out by joumalisls for expert ￿rnMent on issues ￿lated lo antenatal scre8ning and diagr￿515, The current ARC staff team.. Jane Fisher Director Salty George.. National Support Co-ordinator Hannah Coatss.. Liaison and Development Co-ordinator Jenny Price.. Engagernenl and Development C￿rdIna10r Hannah Mclnne5-Dean.' Research Associate Retecca Hawkes.. c￿Munity Fundraising and Administration Officer The Rose FouThJalion Trustees Rep)rt lor1nir2021-3111012022

Karèn Mclntosh.. ARC Ccwrdinalor in ScollaThJ (based in Glasgow) Miranda Glen, ARC Cw)rdinator in Wales (baséd in Powysl Suzie Hea￿Y'. ARC co.ordinator in Northem IrèlaThJ (based in Belfasl} Kaly Macward.. Fundraising Development Officer Vic Swift.. Admin support The dlfference the Rose Foundatlon Tr￿ke8 to ARC We continue to count ours81ves very lucky itKleed to havè thè office space here al Crawford ws. Having s￿h a well-appointsd ￿t1¢0Mlng place to do our drffi¢ult work makes a real difkren¢e As you will see above, we have added lo our staff tsan over the last year which m8ans can further develop our work and expand our rexh. We are now truly UK.wide Tepresentstion in all fourcountries. Ithas been g￿81t0 have More people phYS￿allY Pfesent in the Office-t￿ugh the new nomal 15 definitely hybiid (apart from mell. The c9ntral location has b8en a godsend tw as enduo strikes on public IransFQrt las colleagues can cycle or walk in lo hold the fort rf necessary). We have also appr￿lated ¥￿k81)d ￿CesS for our quarterfy TfUSte8 Bowd meetings. In the last yearour helpline team has handled 6540 contacts by phone and emallfrom anxious expectant and tereaved parents and ￿1r caregivers. We have also been abb to invite uples to see us face to *e in the offices which has been greatty appreciated. 'lÈ's been a lonelyjourney in lockdown and Iwe had to grapple with some really difficuli feelings on my own, as has my husband. The ARC online forum has been greal, but nothing compares ¢0 in-person 5uppor¢. I'v¢ also found il really helpfyl io hear so many similarilies between mine and oihers, experiences, even ifrhe circumstances were different. Il's nice to know my/ourfeelings are normal. As well as the par8nl-kiThJ support work we have Contin￿ to work with heaFth care professonals and delivered our well evaluated training lo dctlors, mid¥Mves, son(xJraphets and genètic counsellors across the UK. reaching over1350 p￿feSSIOnalS over the year. W8 have done m￿h more in person training %ross Ihe year and ran a successfvl conference for health care professlonals in May al the Kings Fund. The F￿ndation Trustees Repjrt for111112021-31110r2022

We ￿maIn increijibly gratsful to the Rose Foundation for Ihèir extra¢)rdinary gènerosity in donatiry our office space. telephone and IT costs. As tough economic limès lay ahead, wè can kn the fubjre I￿th som confidence and I know we, and more importanfjy the client group ￿ serve, appfeciate that beY￿d words. h) The New Amsterdam Charitable Foundation Alan Rose monitors this Found*'on's activities on the Tnjslees, behalf aThJ has maintained participatory role in the activib'es of Mote Marine Laboratory, Suncoast Foundation for Handicapped Children, Inc. and of Sl Martha C8th0lic Church wh￿h are irLluded amongst the ulb'male beneficraries. Recipients have been required to Confim the propriety ol iheir charitable purposes and lo provide supporn've d¢xumentstion. DetaI15 of those who have benefited during the Fericrfj 1st November 2021 to 31$1 C¢toter 2022 are sel out in ApperKlix 4. ACHIEVEMENTS AND PERFORMANCE A detsiled review of the prcgress achieved with our various charitable projects is given in IP attached appendus. The R058 F￿￿JaI￿)n TnJsLees Rep￿rt for111112021- 31110k022

FINANCIAL REWEW Review of Financlal Po$ltlon r￿1 exFenditure for the year, excluding capitsl relums, amounted lo £66,44712021 £46,692). The lolal income receNed was £1,201,428 compared lo £1.219,517 in the prior yèar. This Is a decrease of£18.089 compared to th8 previous year rnainly due lo a le¢￿aSe in investment incomè recelved. This income level reflects an invèsknènt policy based on a frxgj inc(¥ne strategy vKth the targetofachiewng an annual income retum ofcirca 4%. This tsrget was met in the y8ar under review. Charitable expenditur8 totsllpA £1,149,331 compared to £1,128,495 in the prior year being an Inc￿ase of £20,835. GMts payable lotalled £1,008,70012021- £995,1011 and werg in lin8 with anticipated exp8ndilure. The charity has sel an ultimate target of a break-even position belore investment relums are taken into account. This was all￿st achièved in the year under review. The capital relums in Ihè year amounted to a gain of £1,219,03312021- Loss£24,0571 relah'ng to the investment Portfolio. FUrt￿rCOmMenI is made on Ih8S8 matters elow. Further detsils ofthe grant payments m&Je are detaikd in the ￿coUnts aTrJ also later in this report. Otherchaiitsble expeTrYibJrè anKsunted lo £103,38112021- £98,528), an increase of £4,855. Such increase was rnainly as a ￿5￿11 of an increase in office overhead5 and slaff costs. Support costs in the form of govemance costs increased by £2,6521o the sum of£37,250. Investment man&Jementfe8s were £102,314 cornpared to £100,518 in the prior year. These charges represent annual fees ol approximately 0.5%12021- 0.5%) of overall pjrtfolio value, a level which ￿ telieve is not UnreaSor￿b￿. In recent year5 a fixed Ir￿ome strategy target was set with a relum of4% Fer annum In order to achieve a breakven posrtDn. In the year under review the investment portldio showed an unrealizgj gain of 6Vg12021 Gain 0.1%). G(Mng forward thè investment strategy w¢ll be amended to a targeted overall return of 8% per annum (sèè below). bl Tangible Fixed Assets The Trustees retsin the use ofa freèhold property kn¢)wn as 28 Crawford Street, London W1. This is patly used by the Charity for its own purposes, butthe ma￿)rity of the xcomrncJaI￿n io The Rctse F{￿￿jab.0n Trustees Reportfor 111112021- 31110r2022

is let lo other Charities and residential tenants at fvll market rents. In the opinion of the Tru5te85, the mathel value of the propèty al 31 OCto￿r 2022 was in Ihe ￿￿on of £11,450,000. As a result, no revaluation adjustment was made in the year under review. Investment Policy The TNslees have a general power of investrnenl uTrder the temis ofthe Constitution and managemenl of th8 Chanvs investrnent funds is delegated to prole5sional inveslrnent managers. As none of thèse funds are permanenuy endowed, the Board's invesknent policy in the year under review was to aim for an average income retum of 4%, which was commènsuratè wth anticipated future spendirvJ requirements. The actual result achieved in the year was cir¢a10% vhien both Ca￿tal and income rebjms were tsken into account whth is a favourable result given the difficult 8conomic conditions that 8xis18d in th8 y8ar. During the year under revw Ih8r8 was an increase in the value of investment p)rtfolio corded in the accounts of £1,219,033. This mainly resulied from one maln UK IK$￿1 ITè18com Plu51 which increased in value by 70% in the year under ￿VieW. At the year end thi8 had a value 01£3,856,981. This was an 8xceptional resultgiven thatlhe majorty of stocks are held for an inGcffle relum in line with the investment policy pre¥Aously described. As des￿ibed in Ibl ab)ve Ihe Trustses have carr*d out a re9ular review of investment perfomiance and opp)rtunities. As a result of the lalesl rewew the Trustees decided that an amendment lo the charity's ¢urpnl strategy was required as the investment arena ha5 changed follwng recent rises in intèrèst ratès. Therefore the Trustees have decided that the portfolio will be move away Irom a fixed income strategy to more a flexible approach gting forward with overall capital and income retums targeted al the rate of 8% per annum. dl Reserves ReseNes are that part ofThe Rose FOundat￿n'S income fuThJs that ar8 fr881y availab18 forts general purposes, i.e., the resources that The Rose Foundation has orcan make availabk8 to spend for all or any of the Charity's pury￿se$, once it has met its commttments and Covered ts other planned expendiluffj. The Tru5tee5 have an implied power in the exercise of their di￿retIOn lo retain fijnds Whe￿ il is necEssary in the chartty's best interests to do so. The Trustees regularfy review and amend their future expenditure plans to lake account of anlicipaled irtome re￿Pts, arisiThJ from theircapital base. Thus, the Trustees telieve that rt is b)th reasonable and necessary to retsin r8seNes at their current level of £19,640,975 as represented by ts value of n8t assets le55 the value of the fixed assets retsined by the Trustsés. This supports the maintenance of the current grant wlicy of the charity. The Rose Fr￿ Thjab'on Trustees Rewrt lor1111r2021- 31110QO

TRUSTEES DISCLOSURE TO AUDITORS Exh oflhe Trustees has confimed thatthere is no infc4Thalion of which they are aware which 15 relevant to the audit, bjl ofvthich the auditor E unaware. Th8y have furtherconfinned that they have tsken appropriate steps to identify 5uGh ￿levant infomab¢)n and to establish that the auditor is aware of S[￿h informats¢Jn. PLANS FOR FUTURE PERIODS Detsils offLrtur8 commitments a￿ listed in Appendix 3. By order of the Board M ROSE ITrusteèl P ROSE ITrust••) 12 The Rose Foundation Trustees Report for 111112021-31110r2022

APPENDJX1 PREVIOUS YEAR'S COMMITMENTS The following commilmgnts were made in 2021= All Souls Church of En land Prima School 2022 Pro eGt £5,000 lo pay for th8 red8corabon of Key Stage 2 PlaygtouTrJ Canopy. BFI 2022 Pro £5,000 towards redevdq)ing the BFI Southbank foyer. ardlnal Hume Centre 2022 Pro ect £5,000 for ￿fUrbI5hrnent of n)Jms in th8 hos181. entral S na ue 2022 Pro'ect £6,000 lo pay f¢ythe repair of the electrical vinch system for the chand8lkgrs. Centre olnt 2022 Pro £5,000 towards the refurbishment of V￿ated bedrooms. Donmar Warehousa 2022 Pro'e £5,000 to pay for the refurbishment of the sash wirKlows at Eonmar Dryden Street. En 118h Herlta e 2022 Pro ect £5,000 towarfs the chirnney capping project at Aps* Hous8. Flash Muslral$ 2022 Pro £5,OC4J towards the installat￿n of new industrial vinyl IbJriThJ in the Drama Room. Floatln Classroom Beau¢ham Lod 2022 Pro ect £5,000 to pay forthe upgradirffj ofcritical ￿re safely equipment forthe Lh)afs engine room and refith'rKJ the boays kitchen. 10. Great Walstead School 2022 Pro £5,CIJO towards the WC project. 11. Global Generatlon 2022 Pro £5,000 toWa￿S the building ol a disabled lrft. 12. House of St Barnabas 2022 Pro ect 13 The Rose FOundats.￿ Trustees Rewrt lor1111r2021-31111)rJJ22

£5,000 toward5 the reffijth'sh￿nl of th8 S￿Ond floor bathrccffl and lobby area. 13. Institute of Cancer Research 2022 Pro ect £5,000 lowards the Trnovalion of the Biological SeNr£s Unf(. 14. Jewlsh Bllnd & Dlsabled 2022 Pro £5,000 for refurbishrnent ofthe disabl&a WC al Milne Court. 15. Jewlsh Care 2022 Pro ect £5,TrJO towards various small building projects in 2022. 16. Jewlsh Communlt Seconda School 2022 Pro £5,000 towards the remc#JellirvJ and refijrbishmenl of the toilet block. 17. Kln '8 Coll e London 2022 Pro £5,000 toward5 refu￿lShment of the Strand Post Room. 18. Ma¢cabl London Brad Recreatlonal Trust 2022 Pro act £10,000 towards the renovation of the Bar. 19. Medlclnema 2022 Pro £5,OC(I towards wdening th8 dooThYay entrance to Guys, Hospital Medicinema. Museum of London 2022 Pro £5,000 towards roof access and lights'ng propcts. 21. Natlonal Theatre 2022 Pro £10,000 towards replacing fir8 doors in high prionty backstage areas. 22. NOTh￿0d 22 Pro £5,C4JO towa￿$ a lift refuTbk8hmenl project. 23. Id R l Naval Coll e 2022 Pro ect £5,000 towards th& Repair of the Ge0￿ell Ststue. 24. Old Vlc 2022 Pro'e¢t £5,000 towards refvrbishmenl of the Crew R￿rn. 25. Paddln on Arts 2022 Pro £5.000 for stone flooring on the balcony outspje the Pyramid. 14 The Rose FourKJalKln TnJstee5 RetKytlor1111k021- 3111OIX)22

ent's Park O en Alr Theatre 2022 Pro 6Ct £5,CKJO lo Upgr￿je the bicyc￿ f&ilities. 27. Rl¢kmansworth and Watford Sea Cadets 2022 Pro £5,000 lor the Rwl Repair Projé¢l. 28. al Acad&m ofmu 1¢ 2022 Pro ect £5,000 towards the upgr3Je of arxessible all gender loilets. 29. Ro al Academ Schools 2022 Pro £5,000 towards the new workshop's storagè facilty Ro al Ballet School 2022 Pro ect £5,000 towards refreshmènt ol White Lojge Garden5. 31, Ro al Court Theatre 2022 Pro £5,000 towards upgrading Ihe induthon loop and inslall8tion of LED beacons for smoke sensor5. 32. Sotto Theatre 2022 Pro £5,000 towards r8furbishing and upgrading house lighting. 33. St Andrew's Youth Club 2022 Pro £5,000 towards installation offront windows, security film aTrJ new door. 34. St John's Ho$ Ice 2022 Pro ect £5,000 towards the Howce staff toibl upgrade. 35. Stma anston S uare 2022 Pro ect £5,OCbJ towards building outdwr children's toilets. Stma lebone School 2022 Pro. £5,000 towards ￿￿[biSh[rEnt of male and fema￿ staff toilet facilities in C Blork. 37. The Ro al Institution 2022 Pro £5,000 for repair of the Environmental Control System. 38. The Wallace Collectlon 2022 Pro ect £5,0001¢)wards the tol￿t and roof access proied. 39. Trainin Shi Broadsword 2022 Pro ect 15 The Rose F￿nd8￿(￿ Trustees Reportlor1111r2021- 31110r2022

£5,000 towards the installat￿n Of￿111ngS in the kitchen and Ganteen area and da5srooms. Universl Colle e School 2022 Pro ect £5,000 towards repl￿ement of the staircase to provhje safe pupil ￿e$S to the pond. 41. West London S na ue 2022 Pro e¢t £5,IXIO to pay for thè repair of the stained-glass window5. 42. St John Ambulan Support frjr the Sl John Arnbula￿e Traning Centre located al Cravhord str￿t. 43. Antenatal Results and Cholces ARC Suppjrt for theif administrallve and fundraising office located at Crawtord SlreeL The Now Amsterdam Ch le Foundatlon ConlinuiThJ support for the wort undertaken by this F¢￿nd3t￿In active in Floiija. 45. Var5 the Children'8 Charl The Foundation seeks to fund a disabled schcd annually. 16 The Rose FOundab.c￿ Trustee$ Reportlor 111112021-3111orth22

APPENDIX 2 YEAR'S ACHIEVEMENTS- DONATIONS MADE Alexandra Palace 2021 Pro ect Charity Reg No. 281991. Aexandra Pal￿e is an historic entertainment venue in LoTrdon. It is loGaled between Muswell Hill and Wcod Green, in Trjrth of the City. It was onginally opened in 1873, bul was rebuilt in1875 folh)wing a destNctrve fire. The Trustees pl8dgèd £5,IKJO toward5 orwjoing repair5 of roof lights on the main roof. T was signifundy delayed, but eventualy compbted to a fine starKlard. The roof lights are now fylly waterb'ghl and albw maximurn light lo the areas below. British Llbrn 2021 Pro Charity Rag No - Exempl The British Library is the national library of the United Kingdom and the largèst library in the worfd by the number of items catslogued. It 15 estimated to ccfitsin170-200 million plus rten)s from many countries. The Rose Foundat￿n agreed lo provhle £5,000 towafds the funding of a disab18d lift, but some rnonths later il was agreed that our pledge would Inste￿ be ulilised towards th8 inslallalh?n of new electrically operated doors, providing ￿esS for able bodied and d￿led visitors. The dTr)f5 have proved a siqnificanl success. Natlonal Galle 2021 Pro ect Charity Reg No. - Exempt The National Gallery r3 an art museum in Trafalgar Square in the City of Weslminster. Founded in1924, it houses a collect￿n of over 2,300 paintings from the rn￿-13th century 101900. £5,000 was prowd&J by The Rose Foundation towards the c05t of refurbishiry ffloots in rns. This included Sanding the floor b&k lo a new timber finish and apF4ying coa15 of vamish. The work wasdelayed. buteventually in January 2022 Complet￿ to a high standard. htln ale Hammerson 2021 Pro Charty R89 No. 224223. Nightingale Hammer50n is an independent charity which has beèn serving the communty for ovèr170 years. They offer a range of services tsiloTed to meet the needs ofeach of Iheir residènts, running Gare homes:, one in southwest and the otter in 17 The Rose Foundatw Trustees R4x)rt 111112021- 3111012072

northwest Li)ndon. They pride themselves in providing hwJh qualty holistiG Gare in a safe and stimulating environment, The Tnjstees voted lo prowde £5,000 towards the refreshment of one of the corridor5 in the southwest London buildityj. Th8 work invoWd paintiThJ the Trjrridor and rep1￿ing the curypnt carpet and tiled flooring vAth a vinyl flooring, suitatde for a heatthcare premises from safety and infection control Ferspeclive. This, together wlh a new wwden skirtirvJ, has rendered the area more attractive, cleaner and easier lo maintain. St John'i Ho$ Charty Reg No.235822. St John's Hospi¢e, an IndeFendenl charity located wthin the Hospital of Sl John and Sl Elriatelh In Sl John's Wood, provides spe¢ialised palliative care to more Ihan 3,CQO lem)inally ill patients and their farnilies every yew. Ice 2021 Pro oct The Foundation was alle lo provide £5,000 towards a lift project. The work was undertaken to a very high standard and has greally improved &Less lor all user5. Unlversl Colle Charity Reg No. 312748 University Colleg8 School, generally known as UCS, is an indepeTraent schDJl charity situated in Hampstead. Th8 school was founded in 1830 by University Colleg8 London inhgriled many of that instilul'on's pri>Jr8SSiV8 and secular ews, Remarkably original and probably unique al that time, the school today is increasingly well known and respèctsd f￿ ils eth05 of inclusvity, literdl scholarship and huh academic Stsnd￿dS. e School 2021 Pro A pledge was made for £5,000 towards the fijnding of improvements to a play area at the nursery school. The eventual project, completed after delay, provTrJes a m￿h safer area to play well received by all the pupils. All Soul$ Church of En Charity Rog No. 303292. All Sou15 School is primarily a Church of England school providirvJ educational primary and juniorfacililies for the Ic¢al community. land Prlma 2022 Pro'ect £5.000 was provided by The Rose Foundalhin towards the repair and red￿OratIOn of a rcof structure that covers part of the playground on the roof of the building. The work was undertaken in the spring of 2022 and the playground is back to full use. 18 Th8 Rose Foundauon Tmstses Reportfor 1111W21- 3111or2022

BFI 2022 Pro charity R8g No. 287180. BFI Southbank is the leading repertory Ginema in the UK, SFecialising in seasons of classic, i￿lependent and non-English films. 11 is operated by the British Film Institute. Thè Rose Foundation a3rEed to PTovide £5,000 toward5 the conversion of the shop in the main lobby area lo a meetinglCc￿ference/café facility. The work was carried out in an economical and methodical Manner, the new tacility promng very popular wlh staff and visitors aike. Cardlnal Hume Centre 2022 Pro ect Ch8fty Reg No. - Exèmpl The Centre strives towards a sLrv&ty where every iThJividual ha5 a safè place to livè and the opp)rtunity to reach their full potential. The Cawdinal Hume Centre enables famili8s, chiklren and young Feople to overcome poverty and avoid homelgssne55. The Tnjslees of The Rose FoundaJ¢J) pledged £5,000 towards the ￿deCOra110n ol vaTfous residential ro)ms. Th8 work was undertaken eatly in 2022 wth an attgmpt lo tnake ourfurKIs go as far as they tM)ssibly could. We believe that excellent value was obtained. 10. Central S na ue 2022 Pro ect Charity Rgg No. 242552. The Central Synagogue provKles weekty seTVUS on the sabbath. 11 has a special interest in holocaust education and leads mulli.faith trips lo concentration camps. 11 also fKsts annual ￿nferenCeS on the history of Jewish rnusK. The Foundation provid8d £6,(￿j0, initially to be used to fvnd repair of chandeliers, bul it wa5 estsblished that the￿ We￿ more pressing issues, most paiticularty the removal of asbestos. Thls was uThJertaken followirg mandatory prOtc￿lS and the wot was completed to the appropriate standard, 11. Centre olnt 2022 Pro ect Charity R6g No. 292411. Centrepoint is a charity in the United Kingdom which provides Jmmodation supp)rt lo ￿meleSS Fecple aged 16.25. Prince William, Prince of Wales, has been a patron ofthe organisalion since 21)05. His Mot￿r. Diana, Prfncess ofWal&s. was patron of the organisation before him. £5,000 was ￿edged towards the redecoration and reffitting of three roorns al Bruce House. The was undertaken in the earfy summer of 2022 to a high slandard. 19 The Rose Foundation Trustee9 Rewrtts 1111r2021- 3111012022

12. Donmar Warehouse 2022 Pro Ch8ty Reg No 284262. The crsnmarwarehoL￿e is an intimate 251 seat, subsidized ttEalre in Covenl Garden, right at the heart of London's Wesl End. 1115 intemationdly renowned a5 Or￿ of the worfd'5 pri￿1paI produciNJ thèatrès, having won over100 major awards dunng its 24-year history. The Rose Foundation Trustees were able lo provide £5,000 to be used to fund the refurbishment of sash windows on the second floor ol the Donmarfs Dryden Stre81 offices. The wotk was badly negjed, since the previous 4Mndows were in very pwr cc￿dItion. Conslru¢tion twk place in January 2022 to a fir￿ Standard and the beneffts were immediately noticed and app￿ciated by the office stsff. 13. En Ilsh Herlts e 2022 Pro 6ct Ch8rify Reg No, 1140351. English Herit4e is a registered ¢harity that manages the National H8ri14e Colthlion. This compri88S Over 400 of England'5 hislcfic buildings, rnonuments and sites spannin9 more than 5,000 years of history. Th8 Rose Foundation provKied £5,000 towards th8 Ap$￿Y House chimnèy capping project. Thi5 look place in the summer 012022 and was completsd to a h￿h slan<lard, including the ¥ovision ol &aditional pigeon prevents'on equiprnenl. 14. Flash Muslcals 2022 Pro ect Charrfy Reg No. 1094205. Estsblished in Apnl 1997, Flash Musicals is brainchild of Tery and Deirdrè Revill and w8s sel up vith a Vh?w lo offering an opportunity for chiklren from low incomè or disadvantaged familK?s within the a￿3 lo become involved in the perfoming arts. Flash MUS￿aL8 is both a voluntary youth organisation and a registered charity. The Trustees pledged £5,000 toward5 the irtstsllation of a new floor surface in the main ommunal ar8a of the buikjing. The project was completed lo great effect in the spring of 2022, with the area now far more attraclve and more easily rna1ntain￿. 15. Floatin Classroom BÈaucham Lod 2022 Pro ect Charity Reg No. 1105466. Beaucharnp Lodge seeks to promote opportunty and social inclusion through providing hands•on, irnèjinalive learning experiences that change lives. They believe that educalwJn should be involving, exciting and fun. Thè pr(YJramm&s that they offéron Ihe Floating Classroom, and the way they leach them, embody Ihèse valu&s. 20 The Rose FoundatsM Trustees Rwort lor 111112021-3111013)22

The Trustees of The Rose Foundati¢Jn provided £5,000 towards the payment of a new fire suppressant system protecting the engine in the event of fire. There were various dèlays to the project, which was nevertheless completed by the summer of 2022 to the desired standard, thu5 ensuring the lubjre safe running of t￿ boat. 16. Global Generation 2022 Pro ect Charity Reg No. 1106420. FouThJ8d in 2004, Global Generation is an educational charity. bthich works tthJèther with local chihjren, Y￿ng Feople, businesses. residents and families in Can￿en, Islington and Southwark lo create heatthy, integrated and enmronmentally 5pon5ible Gornmunilie5. The£5,000 provided by Th& Ros8 Foundalh)n was utilised lofund the in5tallalion ola disabled lfft to a barg8 to ￿ located on the Regent's Canal. The barge was instslk8d late in 2021 and refurbishment wort prixeeded in April 2022. new lift is fully operab'onal, pemittsng wheekhaIr￿Cess to the lower deck olth& ￿1, additionallyaccess la a upper deck Dn the rL￿f ol the main cabin. 17. G￿11 Walstead School 2022 Pro ect Ch8rity R8g No. 751662. Great Walslead School ha5 a unique environmènt, vthèrè t￿Y can offer chiklrèn the opportunity to leam in a wide range of ways Whèthèr they thrive in an outdoor, forest school sètting, or lov8 crèative arts, spjrts or learning in a classroom, they have it at Great Walslead. The Rose Foundation's donation of£5,000 was utilised lo refurbish the redecoration and girfs and b)ys toilets at the schod. The proj8cI addltK*nally provid8d tétter %cessibilty in poor weather. Th8 WO￿ was undertaken to a high stsndard and ttE toile15 have beèn trdnsfomied from a c¢4d uninwliThJ space lo one that is now regularfy used by the children. 18. House of St Barnabas 2022 Pro ect Chaty Reg No. 20T242. The House of St Bamabas r￿gnise that gaining and maintaining paid work is instrumental to i1￿ependence and security, and that in a society where thère is so much disconnect il is important to have an environment where people feel ¢onne¢ted. The TrLL8lees We￿ able to provide £5,000 towards the refurbishment of hvo toilets, together viih the instsllation of hand dryers and a new floor covering. The work was complete in October 2022 to a high standard and has greally improved the faciliti'es enjoyed by those using the building. 21 The Rc6e Foundation T￿js￿ Reportfor1111ra)21- 31110r2022

19. Institute of Cancer Research 2022 Pro ect Charity Reg No. 53414T. Insttlute of Cancer Research, London, is one ol Ihe worhj's rrrf)sl influential cancer r8sear¢h inslilul8s. wth an outstsnding record of achievement dating back more than 100 years. The Rose Foundalion's donation of £5,CKJo was to la￿ratOrieS and the Biob3iC81 SerV￿es Unil. Th8 work was undertak8n in the spring of 2022, with the walls fully stripped b￿k and replaskred, new air conditioning d￿ting aTrJ ethIr￿al cables also installed. Thè work has made an appreciable difference to the laboratory's environrrRnl. 20. Jewlsh Bllnd and Dlsabled 2022 Pro Chaf7ty Reg No. 259480. Jewsh Blind and DisablpA is the only Jewish charity providing slate of the art mobility apartsnents for people from the age of18 upwards, who are physically disabled or vision impaired. The £5,000 that Th8 Rose Foundation provided was ublised lo refufbish fvlly a to1￿1 al the Milne Court Centre. Thè work was undertaken lo a very high standard with a new flmr surface, new tiles, lighting and full decoration throughout. This has provided for an eno￿￿U8 improvement and the toilets are in full use by residents at the cenlrè. 21. Jew18h Care 2022 Pro ect Charity Rog No. 802559. Jewish Care is t1￿ largest heath and social care organisation serving the Jewish communrty in London and the soulh.east ol England. TW run over 70 cenlres s6rvis, caring for rnc￿ than 7,000 peotAe every week. Rose Foundabon pledged £5,OCK) to pay forth8 connection through a rEw door tse￿een buildings. The included redecorating areas ellher side of the dojr aThJ the refvrbi5hed rooms are in ￿nstant use. 22, Jewlsh Communit Seconda School 2022 Pro CharityRag No. 1107705. JCOSS rs a st luTraed Jewish secondary school in New BameL Lonth)n. Established in 2010, it is first Jewish cros5-deTrJminaliona secondary school in the UK. 22 The Rose F￿ndati￿ Trustees Reportfor1M1f2021- 311101￿22

The Trustees agreed to provRle £5,C4)O towards a toitet project which was carried out to a very high standard. The whole area was refurbished with new lighting, llwrs. sanitary ware and CUb￿leS, the toilets are in full use by students. 23. Kin 's Coll e London 2022 Pro Charty Reg No. Exempt KiNJ's Cal￿ge London is a public research universty ￿eated in London and a fwThJing Gonslituenl college of the feder￿ University of London. Our pledge of £5,000 wa5 utilised lo fttnd the refurbishment of the past room at the Strand Campus. The room receives and sends out OV8r 500,000 of psl each year aThJ was in need of redecoration and refurlNshment. The work proceeded in the spring of 2022 to an excellent standard, and very good value was obtsined for The Rose Foundation's fvnds. 24. Maccabl London Brad R•creatlonal Trust 2022 Pro Charity Reg No. 1095196. London Maccabi Recrèatsonal Trust provid8s quality sports and reational facilities and opporbjnilies for all. They ttcupy a 50-acre srte which includes lrs tennis courts, h¥0 netball courts, a bowls gre8n, a cr￿k81 squarè and fiv8 lootball pitches. Their l-weather pitch with ffloodlights, completed in Jun8 2009, ￿ now being used daily by local sch)ols and ¢lubs. The Rose Foundation was able to Provide £10,000 to upgrade the bar area, to incorporate a complete refurbishment including a new bar, Storage, and ancillary facilsbes. The bar is very mu¢h appreciated by those who usè thè facilifr'es. 25. Medlclnema 2022 Pro ect CharityReg No. 1077588. Wicinemaseeks lo improve the difficult realityoflife in hospitsls for patients and their families throughout the LIK, by offering films aTrJ other media. The Rose FouThJalion donation of £5,000 was utilised towards struclural improvements to accéss al the cinema al Guys Hospita. work involved the vJidening of doors and the movirvj of partitioning, so the beds rAn gel intr) the cinema rnore readily. Medicinema obtained excellent valuè for wr fvnds, not ￿a51 because the conlr*)r agreed not lo charge for the lats)ur invo￿ed. As a ￿$utt our rTh)ney was also utilised to redecorate the entra￿£ to th8 cin8ma, 26. Museum of London 2022 Pro eet 23 The R0$8 Foundaion Trustees Rwrtfc(1111Q021- 3111012022

Chanty Reg No. 1139250. The Musèum of London t8lls thè story of the capital from its first sethers to modem times. They have sites in central London, Oocklands ar¥J in H￿kney. The Trustees, provision of £5,000 was uS￿j to go towards the instsllation of new lightsng in the Mudlarks, childrèn'5 intewtive play ar8a and th8 bar area in the main receplion. The improved visibility in these areas has made them saferlor children to use, as well as making thèm more attractive. 27. National Theatre 2022 Pro ect Chaty Reg No. 224223. The Royal National Th8alr8 Ig8n8rally k￿wn as TIE National Theatre commonly as The Nationall in London is one of the UK'S hvo most prominent PUbl￿1Y luThJ8d theatre companies. Sinc8 1988, the theatre has been permitted to call itself the Royal Nab'onal Theatre, the full tytb is rarely used. The theatre presents a vaned pn)gramm&, includir¥J Shakespeare at)J other intemalional classrAI dram8,' tOge￿r with new plays by conternporary playwrights. The Rose Foundation pledged £10,000 which was ulilised to ￿place communal fire dojrs in the slaiThvells of the bU1￿1ng. The previous doors were no loNJèr up to modem standards. The works l¢Jok place in the earfy spring of 2022 and th8 new doors are a huge improvement. 28. Noprtood 2022 Pro ect Chanty Reg No. 1059050. Norwo¢¥J helps to change the lives of thousands of Feople with reaming disabililie5, children and lamilies in n9ed each year, one by one. Their wsion is for people lo live the life they choosè. It is their rnissKsn lo support each aTra every child, adult and family to meet their aspirations, whatever their ability and whatever th8ir ants4tsons. Whilst The Rose Foundation's donation of £5,000 was originally tcs te ulilised for a garden project, it was instead expended on a more pressing n8ed involwng the refurbishment ol a corridor between tsvo kitchens. The WO￿ was ¢amed out earfy in 2022 to a high standard and g￿d value was ￿hIeVed for The Rose Foundation's funds. The Old Ro al Naval Colle e 2022 Pro ect Charity Reg No. 1062519. The Greenvich Foundation for thè Old Royal Naval Collgp was establish￿ in 1997 as a charity lo conserve the M￿nIfiCent Baroque buildings and grounds for pres8nl and future generations. and lo provide oppjrtunities lor vid8 and diverse audiences to enjoy and share ils sunifLancè. 24 The Rose Foundab"(N) Trustees Repcrt fcf 111112021- 31110k022

The Rose Found'on's provision of£5,000 was utilis8d to rèpaira Stats￿ of Georg811 I￿ted in the main quad of the building. The slatrje had suffered from acid rain aThJ al3￿. The work was ca￿Ed out syrnpalheticalty in a rnanner that $￿Uld improv8 the long8vity of th8 slabje, whilst not detwting from ils historical imwtsnce. 30. The Old Vic Theatre 2022 Pro Ch8rityRagNo. 1072590. The Old Vic was set up asa ¢hantabletrusl in1998. Thèy prc4Jucè a number of plays and performances each year. The Rose Foundation's contribut￿n of £5,000 was ulilised to undertake ￿)rk lo the loading bay, wFre the wooden ￿Inth under the d￿r needed replacing. The work was carried out to a high standard and the dc¢k is now fully OFeralional. 31. addln ton Arts 20 Pro Charity Reg No. 2988T9. Paddington Arts is a Youth Arts organisalion committed to developing ts￿nI and crealiwty in the community. They encouraje young pèop￿ to US8 th8 arts for self-expression atNJ care&r developmnl. They run a dedicatèd Perfoming Arts and Media Centre for young people in West London, offering ￿thShOps in dance, drama, v￿80, singing and d8&gn. The Rose FoundaiTon maje a pledge of £5,Ci)O to 8ss1s1 with new lighting in the main rehearsal area of th8 ¢enlre. The new lights are energy efficKgnl and far better illuminalv)n makirvJ a huge dffferen¢e lo bJlh FerIo￿anceS al the centre as ￿￿11 as cost savings. 32. Re ent's Park O en Alr Theatre 2022 Pro'e Chanty R8g No. 2316TO. Regenys Park Open Air Theatre is based in Regent's Park in central London. Although the original intention of The Rose Foundathon'5 £5,000 donakn'on related lo t inslallalion of new bike racks, a more ppssing ￿qu1￿ment of draIn￿e in the front of house bar area became apparent. The Fwndation was pleased to finance this instead and work was undertaken most efftaciously in the spring of 2022. 33. kmansworth and Wattord Sea Cadets 2022 Pro ect Charty R8g No. 282817. Rlckmans￿￿rth and Watford Sea Cadets aim to give young peop an expewnce that will help them grow into the person they want to be in a sale and friendly 25 The R(6e F(￿r￿lation Truste8s Rèrx)rtlor1111f2021-3111012022

environment, Through various activities and ￿ventUreS, they leam tearn￿rk, reskxl. byalty, self-confidence. commitment, self-discipline, honesty and how to be ￿ test version of themselves. The Rose Foundation prowd8d £5,000 lo update sanrtary ware and Greate effective SIK*￿ErS and Wcs in the main TS ReTh)wn building. The propcl was ¢ornpbted late in 2022. 34. Ro al Acadgm of Music 2022 Pro Ch8rity Reg No. 310007 The Royal Academy of Music in Lon(bn, England is the oldest consèrvatoire in the UK, founded in 1822 by John Fane ar¥J Ni¢holas-Chartes BrKhsa. It received its Royal Charter in1830 from lQng Gèorge IV, wfth the suppjrt of the first Duke of Wellington. The FoUndat￿n,5 £5,000 donation was ulilised to undertake works to the accessible all gend6r loi18ts on the basement fb)r. T￿ were completed to a hpjh starHlattl and the area h8s been tra￿fo￿ed, now being appreciated by staff and students. 35. Ro al Academ of Arts Schools 2022 Pro ect Ch8rity Reg No. 1125383. The Royal Academy ol Arts is an art InstitUt￿)n based in Burfington House on PirL&Jilly. The Royal A¢ademy of Arts has a unique pjsition in beiro an indepeTraent, privately fijnded institution led by eminent artists and architects, %those purpose is lo promote the creation, enpymenl and appreciathon of the visual arts through exhikn'tions, educab'on and debate. £5,000 was provided by The Rose Foundthon to assist with the Greats'on of a new slorJJe area for th8 art School. The existing redundant area and space under a staircase has now been fvlly ￿luth'shed and recreated and is now a fully utilised space once again. 36. Ro al Ballet School 2022 Pro ect Charity Reg No. 214364. The Royal Ballet Schcol's mission is to nurture, traln and edtKate exceptional young dancers for the Roya Ballet Companie5 and other leading UK inlemational Companies. The Rose Foundation was able to provide £5,C(KJ for a laThJscaping project al the rear of I Vvhite L¢JJge buildiNJ in Richmond Park. The area was cornpleled lo an excellent standard and has made the area much more attractNe, a5 well as being more practicat given that l&ss sh)rt cuts are now rn&Je across the neighbouring grass. 26 The Rose Founda￿On Tru51e88 RekX)fl 111112021-31110r20r2

1. Ro al Court Theatre 2022 Pro ect Charity Reg No. 231242. The Royal Court Theatre is Britain's leading nationa company dedicated lo n8w Kvrk by innovative writers from the UK and arouThJ the ￿rkI. The Ros8 FoundalKsn Provided £5,000 towardsthe installat￿n ofa loop forthe hard ol hearing in the main audiloriurn and the replacemènt of smce detectors in the a¢tors' changing rooms. Both projects pr￿e&jed in the earfy sumrnerof 2022 to full eff&t.
2. Soho Theatre 2022 Pro ect Charrty Reg No. 267234. Soho Theatre has estsblished itseff as a major writing Ih8atre and a writs￿, devd¢¥mèntorganisa'on of national significance. Wth a programme spanning theatre, comedy and wrtiers, events and home to a lively bar, Soho Tyeatre is one oflhe most vibrant venues on London's cultural scene. £5,OTrJ was provmled to sho Theatre in ordei lo fund a ￿s0 lighting proje¢l in the main audrtorium. Th8 work was undertaken in the autumn of 2022 and has m&Je the attess a￿a arouThJ the auditorium far ￿sS haZa￿oU5, as well as irnproving th8 overall ambEn¢e.
3. St Andrew'8 Club 2022 Pro Charity R8g No. 1103322. Sl Andrew's Club is a wmmunity-based youth club established over150 years ago, which enriches young lives by prowdirYJ a sense of bek)ngirg, fun and inlornal educthon lo around 700 members each year. From the ages of 5 to adulthood, where peopk devèlop self-wnfidence, reS￿cl for others and buihj their ats4'1ib'es to conlributs 10 50Giely as good obzen5, £5,000 was provlded to pay for the tinting of windows in the main communal area and the installation of a new dojr of the basement of the buikjing, In both cases th8 intention is lo create a 'safe spxe" that can be sealed off in the event of any terrorist or wolenl situation, Thè work was undertaken in Ihe spring of 2022 and has &hieved what was requir*J.
4. St John's Hos Ice 2022 Pro ect Charity R8g No.235822. Sl John's Hospice, an independent charity ljcated I￿thin the Hospital of St John and St Elizabèth in Sl John's WWJ, provides specialised palli*'ve care to more than 3,CKIO terfflinally ill patients and their lamilies every year. 27 The Rose Founda[1￿ Tru$188s RetK¥tfrK1111r2021- 31110r2022

The Trustees of The Rose F¢JJndation agreed to provide £5,000 towards a toilet project on the grouThJ flwrofthe hospice. The work was undertaken in the summer and autumn of2022 and, albeit subjected lo d8Lgys because of an a5be5t05 issue, ha5 now been comp￿ted b ex¢dlent effect. 41. Stma anston S uare 2022 Pro ect Charity Reg No. 1105185. St Mary's Bryanston Square Schcfval is located in the h88rt of London and serves children from year1 to year 7. The Trust88s pred￿ £5,IX)O towards a toilet project al the s¢hool. The work involved rep1%4NJ floor coveriw, replacement of the toilets and a full ￿deCOratiOn. 11 was undertaken lo excellent effect and is much appreciatèd by the pupils. 42. St Ma lebone School 2022 Pro ect Charity R8g No. 312756. The Sl Mary18bon8 CE SGhool is a thriving examts of how great education can ￿. Th￿r cumure of ￿h18¥ement Is luelled by a love of l&aming, grounded in Christian values and driven by a dynamic cr8alivty arKI a pylul sense of¢omrnunity, The Trustees provided £5,000 to lund the ￿furbishMenI and redecoration of male staff toilèts al the school. The area was in a very poor state ol repair and the work incllkled replacing thè floor, IBJhls, cubicles and some of the santtary ware, logelher with a full redeCOrat￿n. T proiecl was completed in the February hall tèm to great effect. 43. The Ro al Instltutlon 2022 Pro Charity Rag No. 227938. The Royal InstitutK)n is an indepgndent chaTty dedicated to connecting people Yith the of scierte. £5,000 was provided by The Rose FOun￿allOn and was originally destined lo assist with the replacernenl of air haniiling equipment in the basement of ts building. However, lighting in the theatre becamè more of a priority and the Foundation was prepa￿d to allow the Scheme to change accordingly, Wofks were undertaken in the eady autumn and the new lights are now fully operational, improving the effectiveness of theat¢ lighting and provisfrjn of improved illuminati)n of some of the access points. 44. The Wallace ColleGtion 2022 Pro Chanty R8g No. Exempt. Thè Wal*e Collection is an intematNJnally outstanding collect which contsins unsurpassed masterpieces of paintings, sculpture, fumiture, arrns and amour 28 Th& Rose Ftyjndalion Trustees Rewrtfty 111112021- 31110120Z2

and PQfcelain. Built over the181h and 19th centuries by the Marquesses of H8rtford and &r Richard Wallace. il is onè of the finest and most Ce￿brated collections in th& worfd. The Trustees of The Rose FoUndat￿n provKled £5.000 towards the refurbishment aThJ redecoration of a ladies toilet on the lop flcor of the building. The work was carried out lo high Sts￿lard and has greally improved the area. M is appreciated by staff atthe museum as well as wsrtors. 45. Tralnln Shl Broadsword 2022 Pro Ch8rty Reg No. 29451T. Thè S8a Training Corp5 a voluntary youth organisalion for boyB and gir15. It aims lo develop qualitvas of self-discipline and leade￿hIp and provKles a seNce to the communty. They believe this is an important function in todays mullicullural and muth'_ fath xYiety, and they aim to devebp good citizens lor the fubjre. ect The donation of £5,000 was ub'lised for a tile project in the main dining ar8a and was cafried out in the early summer of 2022. Th8 new tiles cover a large area of the premises, including the maln wardroom, corrKlors and ￿5 area5. We belK?ve that th8 bl8s have gr8alty irnpfoved these areas and that gocll value was obtained for the Rose Foundation funds. 46. nlversl Colle e School 2022 Pro Charity Reg No. 312148 University College School, generally known as UCS, is an independent schojl chanty situated in Hampste&a. Th8 s¢hoKsI was founded in 1830 by Univèrsity College London and inherited many of that instilulion's prc#Jre55ive and *cular views. Remarkably original and probably unique al that time, the school today is in¢￿asiNg1Y well known and resp￿ted (or its ethos of inclusivty, liberal scholarship arbj h￿h aGE•Jemic slandards. The fvnding of a repair of a set of steps was assisted by a grant of £5,000 by The Rose Foundab'on. These steps and the surrounding area now lead onto the side ofthe school and are being LBed lo grow vegetablès plants. 47. West London S ue 2022 Pro ect Ch81ity R8g No. 212143. The Wesl London Syn￿ogue of Britssh Jews Iccfflmcfily abbfeviaied a5 WLSI is a Refom Jemsh synagogue atKI congregation near MarÈ4e Arch in London. It was esta￿l$he￿ in1840. Its current building in UpFer B8thel&y Street dates from 1870, making ti the oldest standing R8fom synagogue, and one of the oldest synagogues. in the United lfjngdorn. 29 The Rase Foundati¢n Trustees Rw)rt f0r1n112021-31110￿O

Thè Rose Foundth'on was ablè lo prowde £5,OCQ lo assi51 wf(h the refvrbishm&nl ofa number of the stsined-glass windows in the synagogue, wh￿h were shoving signs of bowing ar)d cRcking, The was undertaken in the autumn of 202210 a high standard, the windows now significandy enhanced and appreciated by those who attend the buikling. 48. StJohn Ambulance Chanty Reg No. 1071265. Suppx)rt for thè St John Ambulano IrainirrfJ centre located at Crawford Street. The Foundation prowded £553,OCKJ12021 £613,0001 to assist with fundi of their day-lo-day actsvib'es and 8xlraordinary maintenance of their Crawford Street Centre. For more detsils, please see Section 2f) above. 49. Antenatsl Results and Cholces ARC Charty Reg No 1148653. Supwrt for their adminlslrab've Off￿9$ I￿ated al Crawford Street. The Foundation donated £70,00012021 £70.0001 to a55isI in the ￿MInIstration of their work at Crawford Street. For more details pleas8 See s8ckn.on 2gl above. 50. The New Am8tard•m Charltable Foundatlon Ch8rityARS No. 65/0688223. Continuing support forth8 work undertaken by this Fcundab and The Rose Found￿'on donated £84,15012021 £73,726) to The New Amsterdam Charita￿8 Foundation to assist with the funding of varijus capital proje¢ts in Florida, USA. For mop detaiL5, please see S8ction 2hl al)ove and AppeThJix 4 bek)w. 51. Varie The Chlldren's Charl Charity Reg No. 209259. Variety seeks lo provide special schools wlh minibus8S to commodate the Iranswrtats'cfj of disabled children. They are an en¢ymously ef￿CIent fvnd raiser, obtaining signifiGanl Govemrnenl grants to ensure raised fvnds go a lorvj way. The Rose Foundation's airn 1510 donate sufficient amunts each year for the charity lo pu￿hase a minibus. In this financial year the Rose Found*on donated £25,000. 30 The Rose Foundation Trustees Rewrtl(x111112021- 31110QO

APPENDIX 3 FUTURE COMMITMENTS All Souls Church of En land Prlma School 2023 Pro £5,000 to pay for th6 upgrading of lighting to LED energy saving lights. Cèntral S na ue 2023 Pro ect £6,000 lo pay for Instsllalion of an electrical winch System the chandelier5. ainin Skllls Pro £5,000 towards thè r8fvrbrshmenl of [r￿ting rooms and creation of additic￿al tol￿ts. Donmar Warehouse 2023 Pro £5,000 to pay for the installation of extra CCTV secunty al the Donmar Warehouse Theatre buildNIg. lish HerlLI e 2023 Pro £5,000 towards repair work to the lonK Temple at ChisvKk House. Flash Mu$l¢als 2023 Pro £5,000 towards the ￿alKIn of an outside perfonllance area and equipment lor the outsid& classroom. Floatin Classroom Beaucham Lod 2023 Pro ect £5,000 lo pay for the upgr&JirYJ of the boal's cenlrd he*'ng system and replacinglupjrading and installing Ihe omhore slorage unil at Paddington Central. Foundlin Museum 2023 Pro £5,CKJO towatd5 lighting improvements. Great Walstead School 2023 Pro £5,000 towards the renovation oftoilets in the Artist Courtyard. 31 The Rc6e Foundation Trustees Rwrtfor1111r2021- 31n012022

1. House of St Barnabas 2023 Pro ect £5,000 for the rèpair and restoration of the 2nd Iloor Empbymenl Academy training suites.
2. Jewish Blind & Dlsabled 2023 Pro ect £5,000 for refutbishment of ladies and gents disabled communal toilets in Mill Hill East- Frances & DiGk James Court.
3. Jewish Car& 2023 Pro ect £5,000 towards building works at the Betty and A5her Loftus Centre in Frtem Bamet.
4. Jewlsh Communlt Seconda School 2023 Pro ect £5,000 towards Ihg conversion ofcorridor spac8 to small offices.
5. Kln Colle è London 2023 Pro £5,000 towards refurfoishmenl of the Colernan Terrace at the Strand Campus.
6. LIMS 2023 Pro ect £5,000 towards T￿onfigUring research sp￿e at LIMS in the Royal InstiluUon builJirrfJ.
7. Maccabl London Brad Recreatlonal Tru8t 2023 Pro ect £10,000 tovrards the resurfacing of the car park.
8. Ma hew Anlmal Home 2023 Pro ec £5,000 towards the refurbishment of the isdation kenne15 and cattery.
9. Museum ofLondon 2023 Pro ect £5,[￿0 towards the InslalLqtion of energy efficEnl lighting.

10. Natlonal Theatre 2023 Pro £10,000 towards the ￿tinualKIn of repairing and replacing fire doors. 32 The Rose F￿ndalIon Trustees Reportlu 1111r2021- 31110r2022

11. Nl htln ale Hammerson 2023 Pro ect £5,000 towards upgrajing existing Nightingale House parking bays., creation of bèspoke housekeeping storage r(Xsm on Wine Household and upgrading lighting on Wohl HOuse￿￿J.

12. Norwood 2023 Pro £5,C4JO towards improv8m8nts to the garden surface at Buckets & Spades.
13. Old Ro al Naval Coll e 2023 Pro ect £5,000 towatrls the creation ofthe King William Ccffimunity Hub.
14. Old Vl¢ 2023 Pro ect £5,IJOO lowarfs the renovation of the ladies and ￿nS toilets backstage.
15. Paddln lon Arts 2023 Pro £5,000 for the ￿p1a￿ment of lighting with mre efficlent LED.
16. Pleasance Theatre 2023 Pro £5,000 towards thè instsllab'on of an air conditioning and vèntilatson systsm for the dressing rooms and green room.
17. R ent's Park O en Alr Thèatre 2023 Pro eot £5.000 towards the improvement of ba¢kstsge cabling.
18. Ro al Acade of Muslc 2 23 Pro £5,000 towards ts UFgrade ofthe inslNmenl sloTr3e at the Academy.
19. Ro al Academ Schools 2023 Pro e¢t £5,000 towards the tefurbishrnenl of the lrfe drawng ffjom.
20. Ro al Court Theatre 2023 Pro ect £5,000 towatds th8 replxemenl of the stage door. Societ of Anti uaries 2023 Pro e¢t £5,000 towards the instsllalion of a new alam) system.
21. Soho Theatre 2023 Pro ect 33 The Rose Fwndation TDJstees Re￿rt￿￿ll1l￿￿21- 31110120Y2

£5,OC¥J towards the instsllation of a new dwraccess system. 32. St Anne's Llmehouse 2023 Pro ect £5,000 towards cons8rvalDn of the pictorial vindow. StJohn's Hos Ice 2023 Pro £5.000 towards the renovatKin of the Day Centre counselling r￿rn. Stma lebone School 2023 Pro ect £5,000 towards thè instsllalion of female $tsff slM%pr facilthes. 35. The Ro al InstÉtutlon 2023 Pro ect £5,000 for repl￿ment ofthe lighting system in the I￿re theatre. 36. The Wallace Collectlon 2023 Pro £5,000 towards refurbishrnenl of the mal8 slaff toilets changing rcom. 37. Trainln Shi Broadsword 2023 Pro £5,000 towards th8 lowèring of ceilings In galley and classnraining rooms replacement of the flooring. 38. Trlan le Adventure Pla round 2023 Pro ect £5,000 towards the installation of an aerial walkway. 39. Union Cha 12023 Pro £5,000 towards accessibilty safety buildiThJ works. 40. Unlversl Colle e School 2023 Pro ect £5,oc￿ towards improvements to the outdwr sparR at pla￿ng fplds and pavilion ¢Jn HoC￿ft Road. 41, West London S ue 2023 Pro ect £5,000 towards the renovation and painting of the ceiling of the Sarxtuary. 42. Zoolo Ical So¢1 of London 2023 Pro ect 34 The Rcoe Foundal'on Trustees Rrfnrt for 111112021-3111012022

£5,000 toward5 the refurlm'shment of the toilet and baby charye ￿llibeS. 43. St John Ambulance Support for the St John Ambulance Trainiro Centre Ic¢ated at Crawford Street. 44. Antenatal Results and Cholces ARC SupFQrt for their &dminislrdtive aTha lundraising offKe I(￿ated al Cravrford Street. 45. The New Amsterdam Charitable Foundatlon Continuing support for the work undertaken by this Foundth'on active in Florida. 46. Varlet -the Chlldren's Charl The Foundation seeks to fund a disabled school bus annually. 47. Actlon A alnst Cancer Supp)rt for ts extensive research. 35 The Rose FOundav￿ Tnjstees Rewrt for 111112021- 3111012022

APPENDIX 4 THE NEW AMSTERDAM CHARITABLE FOUNDATION Those vtho benefited during the Feriod 1BI Novèmber 2021 to 3131 October 2022 ￿re.. Mote Marine Laborato $23,100 was donatèd towards the conlinuirvj education and professional ajvancemenl of Parsonnel. $9,450 was d￿atsd towards the construction of the new SCk?nce and educatK)n aquarium. $6,100 was donated towards the purchase of technical equipment. $4,000 wa5 donated toward the proc88ds of the annual bl%k tie fundraising din￿r. Sun¢oast Foundation for Handlca ed Chlld n In This Foundation meets the health, developmental and educational needs of the handicapp8d, and contributions °in kind" are specifically encouraged in order lo limit its operationaf overhead5. 11 specialises in conslnjcts'c￿ pn)jects that serve local organisalions assisting handr2pFed Feople, with a special emphasis towards physically challenged children. $25,630 was donated towards the ongoing maintenance and improvement of facilib'e5 crcupied by The Florida Cèntèrlor Child and Family Development, the Children'5 Haven and Adult Cenler, the Sertoma s￿Ch Clinic, the LovelaThJ Cenler, Children Fir51, Boys and Gir Clubs, Challenger Basketball and Sarasota County Special Olympics. Asolo Theatèr Com an $12,000 was donated lo this theatre company which nurtures Florida Stste Unlverstty grèJuale student actors. Thevanw elF $11,000 was pfovided to this foundation, whos8 mission is to support the Van Wezel Foundab'on In¢. performing arts hall thmugh communty outreach and special prcgrdmmes. St Martha Catholi $10,000 was donated to this church, founded in 1889 as a Jesuit mission. and wh￿h since 1950 has operated a 5chcKJl fcf children with special leaming needs. 36 The Rose FournJaI￿n Trus1￿$ Reportloi 111112021- 3111012022

Catholic Charities Olocesè of VeniGe $3,500 was donated towwds the social servlce aJerq that provides *Nices to mor8 th 40,￿)0 peok48 in ￿Uth west Fbrida, 37 Rose FfyJndatv)n Truste8s RepJrtkn1111rJJ21- 3111012022

THE ROSE FOUNDATION

STATEMENT OF TRUSTEES RESPONSIBILITIES

FOR THE YEAR ENDED 31 OCTOBER 2022

The Trustees are responsible for preparing the Trustees Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare accounts 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 year.

In preparing these accounts, 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 accounts; and

• prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They 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.

• 1 -

THE ROSE FOUNDATION

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE ROSE FOUNDATION

Opinion

We have audited the financial statements of The Rose Foundation (the ‘charity’) for the year ended 31 October 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is 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).

• In our opinion, the financial statements:

• give a true and fair view of the state of the charity’s affairs as at 31 October 2022 and of its incoming resources and application of resources, 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 financial statements are 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 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 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.

• 2 -

THE ROSE FOUNDATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE ROSE FOUNDATION

Matters on which we are required to report by exception

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 financial statements is inconsistent in any material respect with the Trustees report; 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, 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 cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 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.

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 primarily directed towards testing the accounting systems in operation which we have based our assessment of the financial statements for the year ended 31 October 2021.

We planned our audit so that we have a reasonable expectation of detecting material misstatements in the financial statements resulting from irregularities, fraud or non-compliance with law or regulations.

Extent to which the audit was considered capable of detecting irregularities, including fraud

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

• 3 -

THE ROSE FOUNDATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE ROSE FOUNDATION

• The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.

• Enquiring of management of whether they are aware of any non-compliance with laws and regulations.

• Enquiring of management whether they have knowledge of any actual, suspected or alleged fraud.

• Enquiring of management their internal controls established to mitigate risk related to fraud or noncompliance with laws and regulations.

• Discussions amongst the engagement team on how and where fraud might occur in the financial statements and any potential indicators of fraud. As part of this discussion, we identified potential for fraud in the following areas; posting of unusual journals.

• Obtaining understanding of the legal and regulatory framework the company operates in focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations. The key laws and regulations we considered in this context included UK Companies Act, tax legislation,data protection, anti-bribery, employment and health and safety.

Audit reponse to risks identified

Fraud due to management override

To address the risk of fraud through management bias and override of controls, we:

• Performed analytical procedures to identify any unusual or unexpected relationships.

• Audited the risk of management override of controls, including through testing journal entries for appropriateness

• Assessed whether judgements and assumptions made in determining the accounting estimates set out in note 2 were indicative of potential bias; and

• Investigated the rationale behind significant or unusual transactions.

Irregularities and non-compliance with laws and regulations

In response to the risk of irregularities and non compliance with laws and regulations, we designed procedures which included, but are not limited to:

• Agreeing financial statements disclosures to underlying supporting documentation.

• Reviewing minutes of meetings of those charged with governance.

• Enquiring of management as to actual and potential litigation claims.

• Reviewing correspondence with HMRC.

The test nature and other inherent limitations of an audit, together with the inherent limitations of any accounting and internal control system, mean that there is an unavoidable risk that even some material misstatements in respect of irregularities may remain undiscovered even though the audit is properly planned and performed in accordance with ISAs (UK). Furthermore, the more removed that laws and regulations are from financial transactions, the less likely that we would become aware of non-compliance.

Our examination should therefore not be relied upon to disclose all such material misstatements or frauds, errors or instances of non-compliance that might exist. The responsibility for safeguarding the assets of the charity and for the prevention and detection of fraud, error and non-compliance with law or regulations rests with the trustees.

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

Other matters

Your attention is drawn to the fact that the charity has prepared financial statements 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)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

• 4 -

THE ROSE FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE ROSE FOUNDATION This report Is made sdaly to L*arlty's tru5te85, as 8 body, In accordgnc8 wlth part 4 of the Charftkgs IA¢c¢)unts and Reportsl Regulations 2008. Our audlt work has been urvJ8rtaken so th8t we might state to Ihe charltls trustses those matters we are required lo state to thern in an auditors, r8POrt and fcf no other purrA)s8. To the fullest extent pormltt8d by law, wo ¢Jo not 8¢cepl or 885um8 responsibility io anyone olher than the charfty and th8 eharlty. trustees as a body. our audlt work, fof thig réport, orfor the o￿niOnS w8 have lorn)ed. 8t•ph•n Cd•man ACA (Senlor 8t•tutoryAudltor) for •nd on ￿h•ll olG•r•ld Ed•lman LLP 25August 2023 Ch•rt•r•d Accounl•nts 8tatutary Audltor 73 Coffthlll London EC3V 3QQ Gèrald Edelman LLP IB ell9lblo for 8FpolTrlm•nt 86 audltor ol ehathy by vlrtu• of Itv 8lkJlblllty f¢x appolntment a8 OUd￿Or ol 8 ccmpany under 88cllon 1212 01 the CoMpan￿SACt 2006.

THE ROSE FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2022

Unrestricted funds 2022 Notes £ Income from: Investments 3 711,361 Other income 4 490,067 Total income 1,201,428 Expenditure on: Raising funds 5 118,544 Charitable activities 6 1,149,331 Total expenditure 1,267,875 Net expenditure before investment returns (66,447) Net gains/(losses) on investments 11 1,219,033 Net income/(expenditure) for the year 1,152,586 Fund balances at 1 November 2021 29,944,227 Fund balances at 31 October 2022 31,096,813

Total 2021 £ 737,959 481,558 1,219,517 137,714 1,128,495 1,266,209 (46,692) (24,057) (70,749) 30,014,976 29,944,227

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

• 6 -

THE ROSE FOUNDATION BALANCE SHEET ASAT31 OCTOBEP 2099 2022 2021 Not•• Flxod assets Tangible a¥sets Investments 12 13 11,455,838 19,844,380 11,453.343 18.625.347 31,300.218 30.078.690 Currnnt a•¥•t8 Doblors Cash at bank and in hand 15 42,684 456,369 4,791 537,661 499,053 542,452 Cr•dltor•: •mount# falllng wlthln on8 y•ar 16 1702.4581 {676,9151 14•t curr•nt Ilabllltl {203,4051 1134.4631 Total a•••ts l••• curr•nt Ilabllltl•• 31,096,813 29,944.227 Incom• lunds Unrestricted funds 31,098,813 29,944,227 Th8 accountB were apwoved ty the Trn81888 on 25Augu8t 2023 Mr M R088 P Rose

THE ROSE FOUNDATION

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OCTOBER 2022

Notes Cash flows from operating activities Cash absorbed by operations 23 Investing activities Purchase of tangible fixed assets Investment income received Net cash generated from investing activities Net cash used in financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year	2022 £ £ (788,699) (3,954) 711,361 707,407 - (81,292) 537,661 456,369	2021 £ £ (809,361) - 737,959 737,959 - (71,402) 609,063 537,661

• 8 -

THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

1 Accounting policies

Charity information

The Rose Foundation is a Charitable Incorporated Organisation incorporated in England and Wales. The registered office is 28 Crawford Street. London W1H 1LN. The business of the charity commenced on 1 November 2016 upon the transfer of the assets and liabilities from an unincorporated charity of the same name (registered no: 274875).

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2019) . The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

1.4 Incoming resources

Donations, legacies and other forms of voluntary income are recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

The sum of £80,000 (2021: £80,000) is receivable from tenants representing contributions towards the annual maintenance and administration costs of the freehold property owned by the trust (see note 13). This receipt is offset against the total expenditure incurred in respect of the above property. The Trustees consider that this treatment is appropriate both for the reasons of consistency and to ensure the accounts show a true and fair view.

Investment income includes dividends which are credited in the accounts upon receipt. Interest income is included on an accrual basis.

• 9 -

THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

1 Accounting policies

(Continued)

1.5 Resources expended

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Any irrecoverable VAT is charged against the expenditure heading to which it relates.

Cost incurred for the generation of funds are represented by fees paid to professional advisors regarding the management of the investment portfolio on behalf of the trust.

Charitable expenditure includes grants made and costs associated with their payment of both a direct and indirect nature and include support costs. Grants are made to institutions and are included in the accounts when paid or when a firm commitment is given to a charity prior to the balance sheet date which is a constructive obligation. Other commitments entered into at the balance sheet date and which will be financed from future income are not included in the accounts but are disclosed in note 21.

Support costs comprise of costs indirectly associated with charitable expenditure and include governance costs. These comprise expenditure related to strategic planning, legal and audit fees, and also those of meeting its statutory obligations.

1.6 Tangible fixed assets

Tangible fixed assets other than the freehold land are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment 20% on a reducing balance basis

Freehold property is included in the accounts at market value. It is the policy of the Trustees not to provide for depreciation on freehold property.

A policy has been adopted whereby fixed assets are capitalised on acquisition only where such expenditure exceeds the sum of £500

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in income/ (expenditure for the year, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

• 10 -

THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

1 Accounting policies

(Continued)

1.7 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.8 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10 Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.11 Taxation

As a registered charity the Foundation is exempt from taxation on its activities which fall within the scope of part 10 ITA 2007 and section 256 of the Taxation of Chargeable Gains Act 1992.

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THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Investments

	Unrestricted	Unrestricted
	funds	funds
	2022	2021
	£	£
Income from listed investments	709,956	737,835
Interest receivable	1,405	124
	711,361	737,959
Other income
	2022	2021
	£	£
Rental income from non investment assets	490,067	481,558

4 Other income

• 12 -

THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

5 Raising funds

Property maintenance Investment management	2022 £ 16,230 102,314 118,544	2021 £ 37,196 100,518
		137,714

6 Charitable activities

Consultancy fees Office overheads Staff costs Depreciation Other charitable expenditure Grant funding of activities (see note 7) Share of support costs (see note 8)	2022 £ 25,125 28,887 35,411 1,459 12,499 103,381 1,008,700 37,250 1,149,331	2021 £ 23,400 24,519 38,945 1,520 10,142
		98,526 995,101 34,868
		1,128,495

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THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

7 Grants payable

Grants to institutions Paid in the reporting year (see below) Commitments due carried forward Commitments due brought forward Total Grants to instituitions paid in the current year Alexandra Park & Palace Charitable Trust Al-Huda Marble Arch Association All Souls Clubhouse Almeida Theatre Company Antenatal Results & Choices BFI Development British Library Cardinal Hume Centre Central Synagogue Centrepoint Soho Chislehurst Commons Donmar Warehouse English Heritage Flash Musicals Floating Classroom Foundling Museum Global Generation Great Walstead School House of Barnabas Institute of Cancer Research Jewish Blind & Disabled Jewish Care Jewish Community Secondary School Kings College London London Maccabi Recreational Trust Carried forward	2022 £ 992,850 565,500 (549,650) 1,008,700 2022 £ 2,500 10,000 5,000 - 70,000 5,000 2,500 5,000 9,500 5,000 - 5,000 5,000 5,000 5,000 - 5,000 5,000 5,000 5,000 5,000 7,600 5,000 5,000 10,000 187,100	2021 £ 1,019,177 549,650 (573,726) 995,101 2021 £ 2,500 10,000 5,000 5,000 70,000 - 2,500 - 7,885 - 5,000 5,000 7,500 5,000 5,000 5,000 - - - 5,000 10,000 8,000 5,000 5,000 10,000 178,385

• 14 -

THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

7 Grants payable

(Continued)

Brought forward Mayhew Animal Home Medicinema Museum of London National Gallery National Theatre New Amsterdam Charitable Foundation Nightingale Hammerson Noam Education Trust Norwood Ravenswood Old Vic Theatre Old Royal Naval College Open Air Theatre Regents Park Paddington Arts Regent's Park Open Air Theatre Rickmanswoth and Watford Sea Cadets Royal Academy of Arts Royal Academy of Music Royal Academy School Royal Ballet School Royal Court Theatre Royal Drawing School Royal National Theatre Soho Theatre Company St Andrew's Youth Club St John Ambulance St John's Hospice St Mary's Bryanton Square St Marylebone School The Henry Craft Charitable Foundation The Royal Institution The Variety Club The Wallace Collection Training Ship Broadsword University College School West London Mission West London Synagogue Zoological Society of London Others represented by 12 (2021: 12) grants Grants paid in the reporting year	2022 £ 187,100 - 5,000 5,000 2,500 10,000 84,150 2,500 - 5,200 5,000 5,000 - 5,000 5,000 5,000 - 5,000 5,000 5,000 5,000 - - 5,000 5,000 553,000 7,500 5,000 5,000 5,000 5,000 25,000 5,000 5,000 7,500 2,500 5,000 - 5,900 992,850	2021 £ 178,385 5,000 - - 2,500 - 73,726 2,500 5,000 5,000 5,000 7,500 10,000 - - - 2,500 5,000 5,000 5,000 5,000 5,000 10,000 10,000 - 613,000 2,500 5,000 - - - 28,000 - 5,000 2,500 2,500 5,000 7,500 6,066
		1,019,177

A more detailed disclosure of the purposes of grants payable can be found in the Trustees Report which is published as a separate document.

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THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

8 Support costs

Audit fees Accountancy fees	2022 £ 15,360 21,890 37,250	2021 Basis of allocation £ 13,920 Governance 20,948 Governance 34,868

Governance costs includes payments to the auditors of £14,760 for audit fees and £nil for other services.

9 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. No expenses were refunded to the Trustees in the year.

10 Employees

Number of employees

The average monthly number of employees during the year was:

Administration Wages and salaries Pension costs Amounts reimbursed	2022 Number 3 108,438 4,231 (55,267) 57,402	2021 Number 3 106,961 3,584 (58,677) 51,868

The employees are involved in the administration and running of the complex at 28 Crawford Street, London W1. A contribution is received from third party tenants towards their cost under the terms of the relevant leases.

11 Net gains/(losses) on investments

Revaluation of investments (Loss)/gain on sale of investments	2022 £ 1,594,281 (375,248) 1,219,033	2021 £ (24,057) - (24,057)

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THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

12 Tangible fixed assets

Tangible fixed assets
Cost/Valuation At 31 October 2021 Additions At 31 October 2022 Depreciation and impairment At 31 October 2021 Depreciation charged in the year At 31 October 2022 Carrying amount At 31 October 2022 At 31 October 2021	Land and buildings £ 11,450,000 - 11,450,000 - - - 11,450,000 11,450,000	Fixtures, fittings & equipment £ 11,241 3,954 15,195 7,898 1,459 9,357 5,838 3,343	Total £ 11,461,241 3,954
			11,465,195
			7,898 1,459
			9,357
			11,455,838
			11,453,343

The freehold property owned by the Trustees is 27/29 Crawford Street as well as 1/4 and 11/15 Crawford Mews, London W1. The property was valued as at 31 October 2022 by the Trustees who have considerable experience in property matters. In their opinion the market value of the property in the year under review was not materially different from the prior year. The historic cost of the property is £4,229,813.

The main use of the property is solely for charitable purposes. The space not required by the charity is let on short term leases to third parties. The value of such space is estimated at £2.6 million and gave rise to net rental income in the year of £473,837 (2021: £444,362). This is represented by gross rents of £490,067 (2021: £481,558) less applicable expenses of £16,230 (2021: £37,196).

Under the terms of the leases the sum of £80,000 (2021: £80,000) is payable by tenants as a contribution towards the maintenance and administration costs of the property. This sum is apportioned between the appropriate cost categories and then deducted in arriving at the total of expenses included in the accounts.

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THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

13 Fixed asset investments

Cost or valuation At 31 October 2017 Additions Valuation changes Disposals At 31 October 2022	UK Quoted Foreign quoted £ £ 2,421,248 15,819,556 12,895 12,525,186 (2,014) (131,131) - (12,900,434) 2,432,129 15,313,177	Foreign unquoted Total £ £ 384,543 18,625,347 1,799 12,539,880 18,553 (114,592) - (12,900,434) 404,895 18,150,201

• 18 -

THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

13 Fixed asset investments Carrying amount At 31 October 2022 2,432,129 At 31 October 2021 2,421,248 Historical cost 14 Financial instruments Carrying amount of financial assets Equity instruments measured at cost less impairment Carrying amount of financial liabilities Measured at amortised cost 15 Debtors Amounts falling due within one year: Prepayments and accrued income 16 Creditors: amounts falling due within one year Deferred income Other creditors Accruals and deferred income 17 Deferred income Arising from Rental income received in advance	15,313,177 15,819,556 2022 £ 17,738,671 Notes 17	(Continued) 404,895 18,150,201 384,543 18,625,347 2017 £ 17,738,671 2022 2021 £ £ 19,844,380 18,625,347 621,708 606,252 2022 2021 £ £ 42,684 4,791 2022 2021 £ £ 80,750 70,663 565,500 549,650 56,208 56,602 702,458 676,915 2022 2021 £ £ 80,750 70,663	(Continued) 404,895 18,150,201 384,543 18,625,347 2017 £ 17,738,671 2022 2021 £ £ 19,844,380 18,625,347 621,708 606,252 2022 2021 £ £ 42,684 4,791 2022 2021 £ £ 80,750 70,663 565,500 549,650 56,208 56,602 702,458 676,915 2022 2021 £ £ 80,750 70,663
			18,625,347
			2021 £ 18,625,347
			606,252
			2021 £ 4,791
			2021 £ 70,663 549,650 56,602
			676,915
			2021 £ 70,663

• 19 -

THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

(Continued)

18 Movement in unrestricted funds

General funds Revaluation reserve £ £ Balance at 1 November 2021 21,837,366 8,106,861 Income 1,201,428 - Expenditure (1,267,875) - Quoted investments (375,248) 1,594,281 Balance at 31 October 2022 21,395,671 9,701,142 Revaluation reserve is represented by: Freehold property 7,220,187 Quoted investments 2,480,955 9,701,142	Total £ 29,944,227 1,201,428 (1,267,875 1,219,033
	31,096,813

19 Operating lease commitments Lessor

The operating leases represent leases of properties to third parties. The leases are negotiated over terms of 20 years and rentals are fixed for at least 5 years. All leases include a provision for five-yearly upward rent reviews according to prevailing market conditions. There are no options in place for either party to extend the lease terms.

At the reporting end date the charity had contracted with tenants for the following minimum lease payments:

Within one year Between two and five years In over five years	2022 £ 360,000 1,444,000 3,645,833 5,449,833	2021 £ 360,000 1,440,000 4,005,833
		5,805,833

20 Commitments

The Trustees meet in June of each year to plan future charitable expenditure for the next financial year commencing the following November. As this is the case all such commitments are due to be paid out within one year of the balance sheet date. Commitments to charities were outstanding at the year end, which are to be financed from future income arising, as detailed below. No provision has been made in these accounts for these commitments.

All Souls Church of England Primary School

£ 5,000

• 20 -

THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

20	Commitments	(Continued)
	Central Synagogue	6,000
	Copef Training Skills	5,000
	Donmar Warehouse	5,000
	English Heritage	5,000
	Floating Classroom	2,500
	Great Walstead School	5,000
	House of St Barnabas	5,000
	Jewish Blind & Disabled	5,000
	Jewish Care	5,000
	Jewish Community Secondary School	5,000
	King's College London	5,000
	London Institute of Mathematical Sciences	5,000
	Maccabi London Brady Recreational Trust	10,000
	Mayhew Animal Home and Humane Education Centre	5,000
	Museum of London	5,000
	National Theatre	10,000
	Nightingale Hammerson	5,000
	Old Royal Naval College	5,000
	Old Vic Theatre Trust	5,000
	Regent's Park Open Air Theatre	5,000
	Royal Academy of Schools	5,000
	Royal Court Theatre	5,000
	Royal Academy of Music	5,000
	Soho Theatre Company Limited	5,000
	St John's Hospice	5,000
	St. Anne's Limehouse	5,000
	St. Marylebone School	5,000
	The Royal Institution	5,000
	The Wallace Collection	5,000
	Brought forward	158,500

• 21 -

THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

20 Commitments

Commitments	(Continued)
Carried forward	158,500
Triangle Adventure Playground	5,000
Union Chapel	5,000
University College School	5,000
West London Synagogue	5,000
Zoological Society of London	5,000
Total due within one year	183,500

21 Related party transactions

Transactions with related parties

During the year the charity entered into the following transactions with related parties:

The Trustees hold the whole of the issued share capital in the New Amsterdam Charitable Foundation ('NACF') - a-not-profit US organisation and is therefore a fully owned subsidiary of The Rose Foundation. The activities of this foundation are monitored by the Trustee, Mr Alan Rose, who is resident in the United States.

NACF exists mainly for the distribution of donations to eligible charitable organisations in the US. Once specific grants to be made by NACF have been approved by the board of trustees of The Rose Foundation, payment is then made to NACF for onward distribution to the receiving charities. During the year payments of £84,150 (2021: £73,726) were made to NACF and these have been included in the accounts. Included within creditors are donations committed to NACF for an amount of £85,000 (2021: £84,150)

No guarantees have been given or received.

22 Analysis of changes in net funds

The charity had no debt during the year.

• 22 -

THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

23 Cash generated from operations Surplus/(deficit) for the year Adjustments for: Investment income recognised in statement of financial activities Donations from connected charity Loss on disposal of investments Fair value gains and losses on investments Depreciation and impairment of tangible fixed assets Movements in working capital: (Increase) in debtors Increase in creditors Increase in deferred income Cash absorbed by operations	2022 £ 1,152,586 (711,361) - 375,248 (1,594,281) 1,459 (37,893) 15,456 10,087 (788,699)	2021 £ (70,749) (737,959) 28,346,854 - 24,057 1,519 (1,767) 151,780 2,828 (753,418)

• 23 -

Charity Registration No. 1167144

THE ROSE FOUNDATION

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

(CHARITABLE INCORPORATED ORGANISATION)

THE ROSE FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees M Rose P Rose J Rose A Rose Charity number 1167144 Principal address 28 Crawford Street London W1H 1LN Independent Auditors Gerald Edelman LLP 73 Cornhill London EC3V 3QQ Bankers Barclays Bank Level 27 I Churchill Place London E14 5HP Solicitors David Conway & Co St Georges House Hanover Square London W1H 7AL Investment advisors Silex Trust Company Rue Kleberg 6 Geneva Switzerland

THE ROSE FOUNDATION

CONTENTS

	Page
Statement of Trustees responsibilities	1
Independent auditor's report	2 - 5
Statement of financial activities	6
Balance sheet	7
Statement of cash flows	8
Notes to the accounts	9 - 23

THE ROSE FOUNDATION

STATEMENT OF TRUSTEES RESPONSIBILITIES

FOR THE YEAR ENDED 31 OCTOBER 2022

The Trustees are responsible for preparing the Trustees Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare accounts 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 year.

In preparing these accounts, 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 accounts; and

• prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They 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.

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THE ROSE FOUNDATION

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE ROSE FOUNDATION

Opinion

We have audited the financial statements of The Rose Foundation (the ‘charity’) for the year ended 31 October 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is 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).

In our opinion, the financial statements:

• give a true and fair view of the state of the charity’s affairs as at 31 October 2022 and of its incoming resources and application of resources, 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 financial statements are 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 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 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.

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THE ROSE FOUNDATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE ROSE FOUNDATION

Matters on which we are required to report by exception

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 financial statements is inconsistent in any material respect with the Trustees report; 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, 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 cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 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.

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 primarily directed towards testing the accounting systems in operation which we have based our assessment of the financial statements for the year ended 31 October 2021.

We planned our audit so that we have a reasonable expectation of detecting material misstatements in the financial statements resulting from irregularities, fraud or non-compliance with law or regulations.

Extent to which the audit was considered capable of detecting irregularities, including fraud

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

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THE ROSE FOUNDATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE ROSE FOUNDATION

• The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.

• Enquiring of management of whether they are aware of any non-compliance with laws and regulations.

• Enquiring of management whether they have knowledge of any actual, suspected or alleged fraud.

• Enquiring of management their internal controls established to mitigate risk related to fraud or noncompliance with laws and regulations.

• Discussions amongst the engagement team on how and where fraud might occur in the financial statements and any potential indicators of fraud. As part of this discussion, we identified potential for fraud in the following areas; posting of unusual journals.

• Obtaining understanding of the legal and regulatory framework the company operates in focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations. The key laws and regulations we considered in this context included UK Companies Act, tax legislation,data protection, anti-bribery, employment and health and safety.

Audit reponse to risks identified

Fraud due to management override

To address the risk of fraud through management bias and override of controls, we:

• Performed analytical procedures to identify any unusual or unexpected relationships.

• Audited the risk of management override of controls, including through testing journal entries for appropriateness

• Assessed whether judgements and assumptions made in determining the accounting estimates set out in note 2 were indicative of potential bias; and

• Investigated the rationale behind significant or unusual transactions.

Irregularities and non-compliance with laws and regulations

In response to the risk of irregularities and non compliance with laws and regulations, we designed procedures which included, but are not limited to:

• Agreeing financial statements disclosures to underlying supporting documentation.

• Reviewing minutes of meetings of those charged with governance.

• Enquiring of management as to actual and potential litigation claims.

• Reviewing correspondence with HMRC.

The test nature and other inherent limitations of an audit, together with the inherent limitations of any accounting and internal control system, mean that there is an unavoidable risk that even some material misstatements in respect of irregularities may remain undiscovered even though the audit is properly planned and performed in accordance with ISAs (UK). Furthermore, the more removed that laws and regulations are from financial transactions, the less likely that we would become aware of non-compliance.

Our examination should therefore not be relied upon to disclose all such material misstatements or frauds, errors or instances of non-compliance that might exist. The responsibility for safeguarding the assets of the charity and for the prevention and detection of fraud, error and non-compliance with law or regulations rests with the trustees.

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

Other matters

Your attention is drawn to the fact that the charity has prepared financial statements 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)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

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THE ROSE FOUNDATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE ROSE FOUNDATION

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity'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 do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Stephen Coleman ACA (Senior Statutory Auditor) for and on behalf of Gerald Edelman LLP 25 August 2023 Chartered Accountants Statutory Auditor 73 Cornhill London EC3V 3QQ

Gerald Edelman LLP 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.

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THE ROSE FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2022

Unrestricted funds 2022 Notes £ Income from: Investments 3 711,361 Other income 4 490,067 Total income 1,201,428 Expenditure on: Raising funds 5 118,544 Charitable activities 6 1,149,331 Total expenditure 1,267,875 Net expenditure before investment returns (66,447) Net gains/(losses) on investments 11 1,219,033 Net income/(expenditure) for the year 1,152,586 Fund balances at 1 November 2021 29,944,227 Fund balances at 31 October 2022 31,096,813

Total 2021 £ 737,959 481,558 1,219,517 137,714 1,128,495 1,266,209 (46,692) (24,057) (70,749) 30,014,976 29,944,227

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

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THE ROSE FOUNDATION BALANCE SHEET ASAT31 OCTOBEP 2099 2022 2021 Not•• Flxod assets Tangible a¥sets Investments 12 13 11,455,838 19,844,380 11,453.343 18.625.347 31,300.218 30.078.690 Currnnt a•¥•t8 Doblors Cash at bank and in hand 15 42,684 456,369 4,791 537,661 499,053 542,452 Cr•dltor•: •mount# falllng wlthln on8 y•ar 16 1702.4581 {676,9151 14•t curr•nt Ilabllltl {203,4051 1134.4631 Total a•••ts l••• curr•nt Ilabllltl•• 31,096,813 29,944.227 Incom• lunds Unrestricted funds 31,098,813 29,944,227 Th8 accountB were apwoved ty the Trn81888 on 25Augu8t 2023 Mr M R088 P Rose

THE ROSE FOUNDATION

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OCTOBER 2022

Notes Cash flows from operating activities Cash absorbed by operations 23 Investing activities Purchase of tangible fixed assets Investment income received Net cash generated from investing activities Net cash used in financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year	2022 £ £ (788,699) (3,954) 711,361 707,407 - (81,292) 537,661 456,369	2021 £ £ (809,361) - 737,959 737,959 - (71,402) 609,063 537,661

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THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

1 Accounting policies

Charity information

The Rose Foundation is a Charitable Incorporated Organisation incorporated in England and Wales. The registered office is 28 Crawford Street. London W1H 1LN. The business of the charity commenced on 1 November 2016 upon the transfer of the assets and liabilities from an unincorporated charity of the same name (registered no: 274875).

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2019) . The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

1.4 Incoming resources

Donations, legacies and other forms of voluntary income are recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

The sum of £80,000 (2021: £80,000) is receivable from tenants representing contributions towards the annual maintenance and administration costs of the freehold property owned by the trust (see note 13). This receipt is offset against the total expenditure incurred in respect of the above property. The Trustees consider that this treatment is appropriate both for the reasons of consistency and to ensure the accounts show a true and fair view.

Investment income includes dividends which are credited in the accounts upon receipt. Interest income is included on an accrual basis.

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THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

1 Accounting policies

(Continued)

1.5 Resources expended

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Any irrecoverable VAT is charged against the expenditure heading to which it relates.

Cost incurred for the generation of funds are represented by fees paid to professional advisors regarding the management of the investment portfolio on behalf of the trust.

Charitable expenditure includes grants made and costs associated with their payment of both a direct and indirect nature and include support costs. Grants are made to institutions and are included in the accounts when paid or when a firm commitment is given to a charity prior to the balance sheet date which is a constructive obligation. Other commitments entered into at the balance sheet date and which will be financed from future income are not included in the accounts but are disclosed in note 21.

Support costs comprise of costs indirectly associated with charitable expenditure and include governance costs. These comprise expenditure related to strategic planning, legal and audit fees, and also those of meeting its statutory obligations.

1.6 Tangible fixed assets

Tangible fixed assets other than the freehold land are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment 20% on a reducing balance basis

Freehold property is included in the accounts at market value. It is the policy of the Trustees not to provide for depreciation on freehold property.

A policy has been adopted whereby fixed assets are capitalised on acquisition only where such expenditure exceeds the sum of £500

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in income/ (expenditure for the year, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

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THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

1 Accounting policies

(Continued)

1.7 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.8 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10 Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.11 Taxation

As a registered charity the Foundation is exempt from taxation on its activities which fall within the scope of part 10 ITA 2007 and section 256 of the Taxation of Chargeable Gains Act 1992.

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THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Investments

	Unrestricted	Unrestricted
	funds	funds
	2022	2021
	£	£
Income from listed investments	709,956	737,835
Interest receivable	1,405	124
	711,361	737,959
Other income
	2022	2021
	£	£
Rental income from non investment assets	490,067	481,558

4 Other income

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THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

5 Raising funds

Property maintenance Investment management	2022 £ 16,230 102,314 118,544	2021 £ 37,196 100,518
		137,714

6 Charitable activities

Consultancy fees Office overheads Staff costs Depreciation Other charitable expenditure Grant funding of activities (see note 7) Share of support costs (see note 8)	2022 £ 25,125 28,887 35,411 1,459 12,499 103,381 1,008,700 37,250 1,149,331	2021 £ 23,400 24,519 38,945 1,520 10,142
		98,526 995,101 34,868
		1,128,495

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THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2022

7 Grants payable

Grants to institutions Paid in the reporting year (see below) Commitments due carried forward Commitments due brought forward Total Grants to instituitions paid in the current year Alexandra Park & Palace Charitable Trust Al-Huda Marble Arch Association All Souls Clubhouse Almeida Theatre Company Antenatal Results & Choices BFI Development British Library Cardinal Hume Centre Central Synagogue Centrepoint Soho Chislehurst Commons Donmar Warehouse English Heritage Flash Musicals Floating Classroom Foundling Museum Global Generation Great Walstead School House of Barnabas Institute of Cancer Research Jewish Blind & Disabled Jewish Care Jewish Community Secondary School Kings College London London Maccabi Recreational Trust Carried forward	2022 £ 992,850 565,500 (549,650) 1,008,700 2022 £ 2,500 10,000 5,000 - 70,000 5,000 2,500 5,000 9,500 5,000 - 5,000 5,000 5,000 5,000 - 5,000 5,000 5,000 5,000 5,000 7,600 5,000 5,000 10,000 187,100	2021 £ 1,019,177 549,650 (573,726) 995,101 2021 £ 2,500 10,000 5,000 5,000 70,000 - 2,500 - 7,885 - 5,000 5,000 7,500 5,000 5,000 5,000 - - - 5,000 10,000 8,000 5,000 5,000 10,000 178,385

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THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2022

7 Grants payable

(Continued)

Brought forward Mayhew Animal Home Medicinema Museum of London National Gallery National Theatre New Amsterdam Charitable Foundation Nightingale Hammerson Noam Education Trust Norwood Ravenswood Old Vic Theatre Old Royal Naval College Open Air Theatre Regents Park Paddington Arts Regent's Park Open Air Theatre Rickmanswoth and Watford Sea Cadets Royal Academy of Arts Royal Academy of Music Royal Academy School Royal Ballet School Royal Court Theatre Royal Drawing School Royal National Theatre Soho Theatre Company St Andrew's Youth Club St John Ambulance St John's Hospice St Mary's Bryanton Square St Marylebone School The Henry Craft Charitable Foundation The Royal Institution The Variety Club The Wallace Collection Training Ship Broadsword University College School West London Mission West London Synagogue Zoological Society of London Others represented by 12 (2021: 12) grants Grants paid in the reporting year	2022 £ 187,100 - 5,000 5,000 2,500 10,000 84,150 2,500 - 5,200 5,000 5,000 - 5,000 5,000 5,000 - 5,000 5,000 5,000 5,000 - - 5,000 5,000 553,000 7,500 5,000 5,000 5,000 5,000 25,000 5,000 5,000 7,500 2,500 5,000 - 5,900 992,850	2021 £ 178,385 5,000 - - 2,500 - 73,726 2,500 5,000 5,000 5,000 7,500 10,000 - - - 2,500 5,000 5,000 5,000 5,000 5,000 10,000 10,000 - 613,000 2,500 5,000 - - - 28,000 - 5,000 2,500 2,500 5,000 7,500 6,066
		1,019,177

A more detailed disclosure of the purposes of grants payable can be found in the Trustees Report which is published as a separate document.

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THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

8 Support costs

Audit fees Accountancy fees	2022 £ 15,360 21,890 37,250	2021 Basis of allocation £ 13,920 Governance 20,948 Governance 34,868

Governance costs includes payments to the auditors of £14,760 for audit fees and £nil for other services.

9 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. No expenses were refunded to the Trustees in the year.

10 Employees

Number of employees

The average monthly number of employees during the year was:

Administration Wages and salaries Pension costs Amounts reimbursed	2022 Number 3 108,438 4,231 (55,267) 57,402	2021 Number 3 106,961 3,584 (58,677) 51,868

The employees are involved in the administration and running of the complex at 28 Crawford Street, London W1. A contribution is received from third party tenants towards their cost under the terms of the relevant leases.

11 Net gains/(losses) on investments

Revaluation of investments (Loss)/gain on sale of investments	2022 £ 1,594,281 (375,248) 1,219,033	2021 £ (24,057) - (24,057)

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THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

12 Tangible fixed assets

Tangible fixed assets
Cost/Valuation At 31 October 2021 Additions At 31 October 2022 Depreciation and impairment At 31 October 2021 Depreciation charged in the year At 31 October 2022 Carrying amount At 31 October 2022 At 31 October 2021	Land and buildings £ 11,450,000 - 11,450,000 - - - 11,450,000 11,450,000	Fixtures, fittings & equipment £ 11,241 3,954 15,195 7,898 1,459 9,357 5,838 3,343	Total £ 11,461,241 3,954
			11,465,195
			7,898 1,459
			9,357
			11,455,838
			11,453,343

The freehold property owned by the Trustees is 27/29 Crawford Street as well as 1/4 and 11/15 Crawford Mews, London W1. The property was valued as at 31 October 2022 by the Trustees who have considerable experience in property matters. In their opinion the market value of the property in the year under review was not materially different from the prior year. The historic cost of the property is £4,229,813.

The main use of the property is solely for charitable purposes. The space not required by the charity is let on short term leases to third parties. The value of such space is estimated at £2.6 million and gave rise to net rental income in the year of £473,837 (2021: £444,362). This is represented by gross rents of £490,067 (2021: £481,558) less applicable expenses of £16,230 (2021: £37,196).

Under the terms of the leases the sum of £80,000 (2021: £80,000) is payable by tenants as a contribution towards the maintenance and administration costs of the property. This sum is apportioned between the appropriate cost categories and then deducted in arriving at the total of expenses included in the accounts.

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THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

13 Fixed asset investments

Cost or valuation At 31 October 2017 Additions Valuation changes Disposals At 31 October 2022	UK Quoted Foreign quoted £ £ 2,421,248 15,819,556 12,895 12,525,186 (2,014) (131,131) - (12,900,434) 2,432,129 15,313,177	Foreign unquoted Total £ £ 384,543 18,625,347 1,799 12,539,880 18,553 (114,592) - (12,900,434) 404,895 18,150,201

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THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

13 Fixed asset investments Carrying amount At 31 October 2022 2,432,129 At 31 October 2021 2,421,248 Historical cost 14 Financial instruments Carrying amount of financial assets Equity instruments measured at cost less impairment Carrying amount of financial liabilities Measured at amortised cost 15 Debtors Amounts falling due within one year: Prepayments and accrued income 16 Creditors: amounts falling due within one year Deferred income Other creditors Accruals and deferred income 17 Deferred income Arising from Rental income received in advance	15,313,177 15,819,556 2022 £ 17,738,671 Notes 17	(Continued) 404,895 18,150,201 384,543 18,625,347 2017 £ 17,738,671 2022 2021 £ £ 19,844,380 18,625,347 621,708 606,252 2022 2021 £ £ 42,684 4,791 2022 2021 £ £ 80,750 70,663 565,500 549,650 56,208 56,602 702,458 676,915 2022 2021 £ £ 80,750 70,663	(Continued) 404,895 18,150,201 384,543 18,625,347 2017 £ 17,738,671 2022 2021 £ £ 19,844,380 18,625,347 621,708 606,252 2022 2021 £ £ 42,684 4,791 2022 2021 £ £ 80,750 70,663 565,500 549,650 56,208 56,602 702,458 676,915 2022 2021 £ £ 80,750 70,663
			18,625,347
			2021 £ 18,625,347
			606,252
			2021 £ 4,791
			2021 £ 70,663 549,650 56,602
			676,915
			2021 £ 70,663

• 19 -

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

THE ROSE FOUNDATION

18 Movement in unrestricted funds

General funds Revaluation reserve £ £ Balance at 1 November 2021 21,837,366 8,106,861 Income 1,201,428 - Expenditure (1,267,875) - Quoted investments (375,248) 1,594,281 Balance at 31 October 2022 21,395,671 9,701,142 Revaluation reserve is represented by: Freehold property 7,220,187 Quoted investments 2,480,955 9,701,142	Total £ 29,944,227 1,201,428 (1,267,875 1,219,033
	31,096,813

19 Operating lease commitments Lessor

The operating leases represent leases of properties to third parties. The leases are negotiated over terms of 20 years and rentals are fixed for at least 5 years. All leases include a provision for five-yearly upward rent reviews according to prevailing market conditions. There are no options in place for either party to extend the lease terms.

At the reporting end date the charity had contracted with tenants for the following minimum lease payments:

Within one year Between two and five years In over five years	2022 £ 360,000 1,444,000 3,645,833 5,449,833	2021 £ 360,000 1,440,000 4,005,833
		5,805,833

20 Commitments

The Trustees meet in June of each year to plan future charitable expenditure for the next financial year commencing the following November. As this is the case all such commitments are due to be paid out within one year of the balance sheet date. Commitments to charities were outstanding at the year end, which are to be financed from future income arising, as detailed below. No provision has been made in these accounts for these commitments.

All Souls Church of England Primary School

£ 5,000

• 20 -

THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

20	Commitments	(Continued)
	Central Synagogue	6,000
	Copef Training Skills	5,000
	Donmar Warehouse	5,000
	English Heritage	5,000
	Floating Classroom	2,500
	Great Walstead School	5,000
	House of St Barnabas	5,000
	Jewish Blind & Disabled	5,000
	Jewish Care	5,000
	Jewish Community Secondary School	5,000
	King's College London	5,000
	London Institute of Mathematical Sciences	5,000
	Maccabi London Brady Recreational Trust	10,000
	Mayhew Animal Home and Humane Education Centre	5,000
	Museum of London	5,000
	National Theatre	10,000
	Nightingale Hammerson	5,000
	Old Royal Naval College	5,000
	Old Vic Theatre Trust	5,000
	Regent's Park Open Air Theatre	5,000
	Royal Academy of Schools	5,000
	Royal Court Theatre	5,000
	Royal Academy of Music	5,000
	Soho Theatre Company Limited	5,000
	St John's Hospice	5,000
	St. Anne's Limehouse	5,000
	St. Marylebone School	5,000
	The Royal Institution	5,000
	The Wallace Collection	5,000
	Brought forward	158,500

• 21 -

THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

20	Commitments	(Continued)
	Carried forward	158,500
	Triangle Adventure Playground	5,000
	Union Chapel	5,000
	University College School	5,000
	West London Synagogue	5,000
	Zoological Society of London	5,000
	Total due within one year	183,500

21 Related party transactions

Transactions with related parties

During the year the charity entered into the following transactions with related parties:

The Trustees hold the whole of the issued share capital in the New Amsterdam Charitable Foundation ('NACF') - a-not-profit US organisation and is therefore a fully owned subsidiary of The Rose Foundation. The activities of this foundation are monitored by the Trustee, Mr Alan Rose, who is resident in the United States.

NACF exists mainly for the distribution of donations to eligible charitable organisations in the US. Once specific grants to be made by NACF have been approved by the board of trustees of The Rose Foundation, payment is then made to NACF for onward distribution to the receiving charities. During the year payments of £84,150 (2021: £73,726) were made to NACF and these have been included in the accounts. Included within creditors are donations committed to NACF for an amount of £85,000 (2021: £84,150)

No guarantees have been given or received.

22 Analysis of changes in net funds

The charity had no debt during the year.

• 22 -

THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2022

23 Cash generated from operations Surplus/(deficit) for the year Adjustments for: Investment income recognised in statement of financial activities Donations from connected charity Loss on disposal of investments Fair value gains and losses on investments Depreciation and impairment of tangible fixed assets Movements in working capital: (Increase) in debtors Increase in creditors Increase in deferred income Cash absorbed by operations	2022 £ 1,152,586 (711,361) - 375,248 (1,594,281) 1,459 (37,893) 15,456 10,087 (788,699)	2021 £ (70,749) (737,959) 28,346,854 - 24,057 1,519 (1,767) 151,780 2,828 (753,418)

• 23 -

Charity Registration No. 1167144

THE ROSE FOUNDATION

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

(CHARITABLE INCORPORATED ORGANISATION)

THE ROSE FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees M Rose P Rose J Rose A Rose Charity number 1167144 Principal address 28 Crawford Street London W1H 1LN Independent Auditors Gerald Edelman LLP 73 Cornhill London EC3V 3QQ Bankers Barclays Bank Level 27 I Churchill Place London E14 5HP Solicitors David Conway & Co St Georges House Hanover Square London W1H 7AL Investment advisors Silex Trust Company Rue Kleberg 6 Geneva Switzerland

THE ROSE FOUNDATION

CONTENTS

	Page
Statement of Trustees responsibilities	1
Independent auditor's report	2 - 5
Statement of financial activities	6
Balance sheet	7
Statement of cash flows	8
Notes to the accounts	9 - 23

THE ROSE FOUNDATION

STATEMENT OF TRUSTEES RESPONSIBILITIES

FOR THE YEAR ENDED 31 OCTOBER 2022

The Trustees are responsible for preparing the Trustees Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare accounts 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 year.

In preparing these accounts, 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 accounts; and

• prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They 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.

• 1 -

THE ROSE FOUNDATION

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE ROSE FOUNDATION

Opinion

We have audited the financial statements of The Rose Foundation (the ‘charity’) for the year ended 31 October 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is 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).

In our opinion, the financial statements:

• give a true and fair view of the state of the charity’s affairs as at 31 October 2022 and of its incoming resources and application of resources, 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 financial statements are 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 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 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.

• 2 -

THE ROSE FOUNDATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE ROSE FOUNDATION

Matters on which we are required to report by exception

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 financial statements is inconsistent in any material respect with the Trustees report; 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, 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 cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 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.

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 primarily directed towards testing the accounting systems in operation which we have based our assessment of the financial statements for the year ended 31 October 2021.

We planned our audit so that we have a reasonable expectation of detecting material misstatements in the financial statements resulting from irregularities, fraud or non-compliance with law or regulations.

Extent to which the audit was considered capable of detecting irregularities, including fraud

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

• 3 -

THE ROSE FOUNDATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE ROSE FOUNDATION

• The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.

• Enquiring of management of whether they are aware of any non-compliance with laws and regulations.

• Enquiring of management whether they have knowledge of any actual, suspected or alleged fraud.

• Enquiring of management their internal controls established to mitigate risk related to fraud or noncompliance with laws and regulations.

• Discussions amongst the engagement team on how and where fraud might occur in the financial statements and any potential indicators of fraud. As part of this discussion, we identified potential for fraud in the following areas; posting of unusual journals.

• Obtaining understanding of the legal and regulatory framework the company operates in focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations. The key laws and regulations we considered in this context included UK Companies Act, tax legislation,data protection, anti-bribery, employment and health and safety.

Audit reponse to risks identified

Fraud due to management override

To address the risk of fraud through management bias and override of controls, we:

• Performed analytical procedures to identify any unusual or unexpected relationships.

• Audited the risk of management override of controls, including through testing journal entries for appropriateness

• Assessed whether judgements and assumptions made in determining the accounting estimates set out in note 2 were indicative of potential bias; and

• Investigated the rationale behind significant or unusual transactions.

Irregularities and non-compliance with laws and regulations

In response to the risk of irregularities and non compliance with laws and regulations, we designed procedures which included, but are not limited to:

• Agreeing financial statements disclosures to underlying supporting documentation.

• Reviewing minutes of meetings of those charged with governance.

• Enquiring of management as to actual and potential litigation claims.

• Reviewing correspondence with HMRC.

The test nature and other inherent limitations of an audit, together with the inherent limitations of any accounting and internal control system, mean that there is an unavoidable risk that even some material misstatements in respect of irregularities may remain undiscovered even though the audit is properly planned and performed in accordance with ISAs (UK). Furthermore, the more removed that laws and regulations are from financial transactions, the less likely that we would become aware of non-compliance.

Our examination should therefore not be relied upon to disclose all such material misstatements or frauds, errors or instances of non-compliance that might exist. The responsibility for safeguarding the assets of the charity and for the prevention and detection of fraud, error and non-compliance with law or regulations rests with the trustees.

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

Other matters

Your attention is drawn to the fact that the charity has prepared financial statements 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)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

• 4 -

THE ROSE FOUNDATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE ROSE FOUNDATION

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity'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 do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Stephen Coleman ACA (Senior Statutory Auditor) for and on behalf of Gerald Edelman LLP 25 August 2023 Chartered Accountants Statutory Auditor 73 Cornhill London EC3V 3QQ

Gerald Edelman LLP 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.

• 5 -

THE ROSE FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2022

Unrestricted funds 2022 Notes £ Income from: Investments 3 711,361 Other income 4 490,067 Total income 1,201,428 Expenditure on: Raising funds 5 118,544 Charitable activities 6 1,149,331 Total expenditure 1,267,875 Net expenditure before investment returns (66,447) Net gains/(losses) on investments 11 1,219,033 Net income/(expenditure) for the year 1,152,586 Fund balances at 1 November 2021 29,944,227 Fund balances at 31 October 2022 31,096,813

Total 2021 £ 737,959 481,558 1,219,517 137,714 1,128,495 1,266,209 (46,692) (24,057) (70,749) 30,014,976 29,944,227

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

• 6 -

THE ROSE FOUNDATION BALANCE SHEET ASAT31 OCTOBEP 2099 2022 2021 Not•• Flxod assets Tangible a¥sets Investments 12 13 11,455,838 19,844,380 11,453.343 18.625.347 31,300.218 30.078.690 Currnnt a•¥•t8 Doblors Cash at bank and in hand 15 42,684 456,369 4,791 537,661 499,053 542,452 Cr•dltor•: •mount# falllng wlthln on8 y•ar 16 1702.4581 {676,9151 14•t curr•nt Ilabllltl {203,4051 1134.4631 Total a•••ts l••• curr•nt Ilabllltl•• 31,096,813 29,944.227 Incom• lunds Unrestricted funds 31,098,813 29,944,227 Th8 accountB were apwoved ty the Trn81888 on 25Augu8t 2023 Mr M R088 P Rose

THE ROSE FOUNDATION

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OCTOBER 2022

Notes Cash flows from operating activities Cash absorbed by operations 23 Investing activities Purchase of tangible fixed assets Investment income received Net cash generated from investing activities Net cash used in financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year	2022 £ £ (788,699) (3,954) 711,361 707,407 - (81,292) 537,661 456,369	2021 £ £ (809,361) - 737,959 737,959 - (71,402) 609,063 537,661

• 8 -

THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

1 Accounting policies

Charity information

The Rose Foundation is a Charitable Incorporated Organisation incorporated in England and Wales. The registered office is 28 Crawford Street. London W1H 1LN. The business of the charity commenced on 1 November 2016 upon the transfer of the assets and liabilities from an unincorporated charity of the same name (registered no: 274875).

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2019) . The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

1.4 Incoming resources

Donations, legacies and other forms of voluntary income are recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

The sum of £80,000 (2021: £80,000) is receivable from tenants representing contributions towards the annual maintenance and administration costs of the freehold property owned by the trust (see note 13). This receipt is offset against the total expenditure incurred in respect of the above property. The Trustees consider that this treatment is appropriate both for the reasons of consistency and to ensure the accounts show a true and fair view.

Investment income includes dividends which are credited in the accounts upon receipt. Interest income is included on an accrual basis.

• 9 -

THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

1 Accounting policies

(Continued)

1.5 Resources expended

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Any irrecoverable VAT is charged against the expenditure heading to which it relates.

Cost incurred for the generation of funds are represented by fees paid to professional advisors regarding the management of the investment portfolio on behalf of the trust.

Charitable expenditure includes grants made and costs associated with their payment of both a direct and indirect nature and include support costs. Grants are made to institutions and are included in the accounts when paid or when a firm commitment is given to a charity prior to the balance sheet date which is a constructive obligation. Other commitments entered into at the balance sheet date and which will be financed from future income are not included in the accounts but are disclosed in note 21.

Support costs comprise of costs indirectly associated with charitable expenditure and include governance costs. These comprise expenditure related to strategic planning, legal and audit fees, and also those of meeting its statutory obligations.

1.6 Tangible fixed assets

Tangible fixed assets other than the freehold land are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment 20% on a reducing balance basis

Freehold property is included in the accounts at market value. It is the policy of the Trustees not to provide for depreciation on freehold property.

A policy has been adopted whereby fixed assets are capitalised on acquisition only where such expenditure exceeds the sum of £500

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in income/ (expenditure for the year, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

• 10 -

THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

1 Accounting policies

(Continued)

1.7 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.8 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10 Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.11 Taxation

As a registered charity the Foundation is exempt from taxation on its activities which fall within the scope of part 10 ITA 2007 and section 256 of the Taxation of Chargeable Gains Act 1992.

• 11 -

THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Investments

	Unrestricted	Unrestricted
	funds	funds
	2022	2021
	£	£
Income from listed investments	709,956	737,835
Interest receivable	1,405	124
	711,361	737,959
Other income
	2022	2021
	£	£
Rental income from non investment assets	490,067	481,558

4 Other income

• 12 -

THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

5 Raising funds

Property maintenance Investment management	2022 £ 16,230 102,314 118,544	2021 £ 37,196 100,518
		137,714

6 Charitable activities

Consultancy fees Office overheads Staff costs Depreciation Other charitable expenditure Grant funding of activities (see note 7) Share of support costs (see note 8)	2022 £ 25,125 28,887 35,411 1,459 12,499 103,381 1,008,700 37,250 1,149,331	2021 £ 23,400 24,519 38,945 1,520 10,142
		98,526 995,101 34,868
		1,128,495

• 13 -

THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2022

7 Grants payable

Grants to institutions Paid in the reporting year (see below) Commitments due carried forward Commitments due brought forward Total Grants to instituitions paid in the current year Alexandra Park & Palace Charitable Trust Al-Huda Marble Arch Association All Souls Clubhouse Almeida Theatre Company Antenatal Results & Choices BFI Development British Library Cardinal Hume Centre Central Synagogue Centrepoint Soho Chislehurst Commons Donmar Warehouse English Heritage Flash Musicals Floating Classroom Foundling Museum Global Generation Great Walstead School House of Barnabas Institute of Cancer Research Jewish Blind & Disabled Jewish Care Jewish Community Secondary School Kings College London London Maccabi Recreational Trust Carried forward	2022 £ 992,850 565,500 (549,650) 1,008,700 2022 £ 2,500 10,000 5,000 - 70,000 5,000 2,500 5,000 9,500 5,000 - 5,000 5,000 5,000 5,000 - 5,000 5,000 5,000 5,000 5,000 7,600 5,000 5,000 10,000 187,100	2021 £ 1,019,177 549,650 (573,726) 995,101 2021 £ 2,500 10,000 5,000 5,000 70,000 - 2,500 - 7,885 - 5,000 5,000 7,500 5,000 5,000 5,000 - - - 5,000 10,000 8,000 5,000 5,000 10,000 178,385

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THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2022

7 Grants payable

(Continued)

Brought forward Mayhew Animal Home Medicinema Museum of London National Gallery National Theatre New Amsterdam Charitable Foundation Nightingale Hammerson Noam Education Trust Norwood Ravenswood Old Vic Theatre Old Royal Naval College Open Air Theatre Regents Park Paddington Arts Regent's Park Open Air Theatre Rickmanswoth and Watford Sea Cadets Royal Academy of Arts Royal Academy of Music Royal Academy School Royal Ballet School Royal Court Theatre Royal Drawing School Royal National Theatre Soho Theatre Company St Andrew's Youth Club St John Ambulance St John's Hospice St Mary's Bryanton Square St Marylebone School The Henry Craft Charitable Foundation The Royal Institution The Variety Club The Wallace Collection Training Ship Broadsword University College School West London Mission West London Synagogue Zoological Society of London Others represented by 12 (2021: 12) grants Grants paid in the reporting year	2022 £ 187,100 - 5,000 5,000 2,500 10,000 84,150 2,500 - 5,200 5,000 5,000 - 5,000 5,000 5,000 - 5,000 5,000 5,000 5,000 - - 5,000 5,000 553,000 7,500 5,000 5,000 5,000 5,000 25,000 5,000 5,000 7,500 2,500 5,000 - 5,900 992,850	2021 £ 178,385 5,000 - - 2,500 - 73,726 2,500 5,000 5,000 5,000 7,500 10,000 - - - 2,500 5,000 5,000 5,000 5,000 5,000 10,000 10,000 - 613,000 2,500 5,000 - - - 28,000 - 5,000 2,500 2,500 5,000 7,500 6,066
		1,019,177

A more detailed disclosure of the purposes of grants payable can be found in the Trustees Report which is published as a separate document.

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THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

8 Support costs

Audit fees Accountancy fees	2022 £ 15,360 21,890 37,250	2021 Basis of allocation £ 13,920 Governance 20,948 Governance 34,868

Governance costs includes payments to the auditors of £14,760 for audit fees and £nil for other services.

9 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. No expenses were refunded to the Trustees in the year.

10 Employees

Number of employees

The average monthly number of employees during the year was:

Administration Wages and salaries Pension costs Amounts reimbursed	2022 Number 3 108,438 4,231 (55,267) 57,402	2021 Number 3 106,961 3,584 (58,677) 51,868

The employees are involved in the administration and running of the complex at 28 Crawford Street, London W1. A contribution is received from third party tenants towards their cost under the terms of the relevant leases.

11 Net gains/(losses) on investments

Revaluation of investments (Loss)/gain on sale of investments	2022 £ 1,594,281 (375,248) 1,219,033	2021 £ (24,057) - (24,057)

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THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

12 Tangible fixed assets

Tangible fixed assets
Cost/Valuation At 31 October 2021 Additions At 31 October 2022 Depreciation and impairment At 31 October 2021 Depreciation charged in the year At 31 October 2022 Carrying amount At 31 October 2022 At 31 October 2021	Land and buildings £ 11,450,000 - 11,450,000 - - - 11,450,000 11,450,000	Fixtures, fittings & equipment £ 11,241 3,954 15,195 7,898 1,459 9,357 5,838 3,343	Total £ 11,461,241 3,954
			11,465,195
			7,898 1,459
			9,357
			11,455,838
			11,453,343

The freehold property owned by the Trustees is 27/29 Crawford Street as well as 1/4 and 11/15 Crawford Mews, London W1. The property was valued as at 31 October 2022 by the Trustees who have considerable experience in property matters. In their opinion the market value of the property in the year under review was not materially different from the prior year. The historic cost of the property is £4,229,813.

The main use of the property is solely for charitable purposes. The space not required by the charity is let on short term leases to third parties. The value of such space is estimated at £2.6 million and gave rise to net rental income in the year of £473,837 (2021: £444,362). This is represented by gross rents of £490,067 (2021: £481,558) less applicable expenses of £16,230 (2021: £37,196).

Under the terms of the leases the sum of £80,000 (2021: £80,000) is payable by tenants as a contribution towards the maintenance and administration costs of the property. This sum is apportioned between the appropriate cost categories and then deducted in arriving at the total of expenses included in the accounts.

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THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

13 Fixed asset investments

Cost or valuation At 31 October 2017 Additions Valuation changes Disposals At 31 October 2022	UK Quoted Foreign quoted £ £ 2,421,248 15,819,556 12,895 12,525,186 (2,014) (131,131) - (12,900,434) 2,432,129 15,313,177	Foreign unquoted Total £ £ 384,543 18,625,347 1,799 12,539,880 18,553 (114,592) - (12,900,434) 404,895 18,150,201

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THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

13 Fixed asset investments Carrying amount At 31 October 2022 2,432,129 At 31 October 2021 2,421,248 Historical cost 14 Financial instruments Carrying amount of financial assets Equity instruments measured at cost less impairment Carrying amount of financial liabilities Measured at amortised cost 15 Debtors Amounts falling due within one year: Prepayments and accrued income 16 Creditors: amounts falling due within one year Deferred income Other creditors Accruals and deferred income 17 Deferred income Arising from Rental income received in advance	15,313,177 15,819,556 2022 £ 17,738,671 Notes 17	(Continued) 404,895 18,150,201 384,543 18,625,347 2017 £ 17,738,671 2022 2021 £ £ 19,844,380 18,625,347 621,708 606,252 2022 2021 £ £ 42,684 4,791 2022 2021 £ £ 80,750 70,663 565,500 549,650 56,208 56,602 702,458 676,915 2022 2021 £ £ 80,750 70,663	(Continued) 404,895 18,150,201 384,543 18,625,347 2017 £ 17,738,671 2022 2021 £ £ 19,844,380 18,625,347 621,708 606,252 2022 2021 £ £ 42,684 4,791 2022 2021 £ £ 80,750 70,663 565,500 549,650 56,208 56,602 702,458 676,915 2022 2021 £ £ 80,750 70,663
			18,625,347
			2021 £ 18,625,347
			606,252
			2021 £ 4,791
			2021 £ 70,663 549,650 56,602
			676,915
			2021 £ 70,663

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

THE ROSE FOUNDATION

18 Movement in unrestricted funds

General funds Revaluation reserve £ £ Balance at 1 November 2021 21,837,366 8,106,861 Income 1,201,428 - Expenditure (1,267,875) - Quoted investments (375,248) 1,594,281 Balance at 31 October 2022 21,395,671 9,701,142 Revaluation reserve is represented by: Freehold property 7,220,187 Quoted investments 2,480,955 9,701,142	Total £ 29,944,227 1,201,428 (1,267,875 1,219,033
	31,096,813

19 Operating lease commitments Lessor

The operating leases represent leases of properties to third parties. The leases are negotiated over terms of 20 years and rentals are fixed for at least 5 years. All leases include a provision for five-yearly upward rent reviews according to prevailing market conditions. There are no options in place for either party to extend the lease terms.

At the reporting end date the charity had contracted with tenants for the following minimum lease payments:

Within one year Between two and five years In over five years	2022 £ 360,000 1,444,000 3,645,833 5,449,833	2021 £ 360,000 1,440,000 4,005,833
		5,805,833

20 Commitments

The Trustees meet in June of each year to plan future charitable expenditure for the next financial year commencing the following November. As this is the case all such commitments are due to be paid out within one year of the balance sheet date. Commitments to charities were outstanding at the year end, which are to be financed from future income arising, as detailed below. No provision has been made in these accounts for these commitments.

All Souls Church of England Primary School

£ 5,000

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THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

20	Commitments	(Continued)
	Central Synagogue	6,000
	Copef Training Skills	5,000
	Donmar Warehouse	5,000
	English Heritage	5,000
	Floating Classroom	2,500
	Great Walstead School	5,000
	House of St Barnabas	5,000
	Jewish Blind & Disabled	5,000
	Jewish Care	5,000
	Jewish Community Secondary School	5,000
	King's College London	5,000
	London Institute of Mathematical Sciences	5,000
	Maccabi London Brady Recreational Trust	10,000
	Mayhew Animal Home and Humane Education Centre	5,000
	Museum of London	5,000
	National Theatre	10,000
	Nightingale Hammerson	5,000
	Old Royal Naval College	5,000
	Old Vic Theatre Trust	5,000
	Regent's Park Open Air Theatre	5,000
	Royal Academy of Schools	5,000
	Royal Court Theatre	5,000
	Royal Academy of Music	5,000
	Soho Theatre Company Limited	5,000
	St John's Hospice	5,000
	St. Anne's Limehouse	5,000
	St. Marylebone School	5,000
	The Royal Institution	5,000
	The Wallace Collection	5,000
	Brought forward	158,500

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THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022

20	Commitments	(Continued)
	Carried forward	158,500
	Triangle Adventure Playground	5,000
	Union Chapel	5,000
	University College School	5,000
	West London Synagogue	5,000
	Zoological Society of London	5,000
	Total due within one year	183,500

21 Related party transactions

Transactions with related parties

During the year the charity entered into the following transactions with related parties:

The Trustees hold the whole of the issued share capital in the New Amsterdam Charitable Foundation ('NACF') - a-not-profit US organisation and is therefore a fully owned subsidiary of The Rose Foundation. The activities of this foundation are monitored by the Trustee, Mr Alan Rose, who is resident in the United States.

NACF exists mainly for the distribution of donations to eligible charitable organisations in the US. Once specific grants to be made by NACF have been approved by the board of trustees of The Rose Foundation, payment is then made to NACF for onward distribution to the receiving charities. During the year payments of £84,150 (2021: £73,726) were made to NACF and these have been included in the accounts. Included within creditors are donations committed to NACF for an amount of £85,000 (2021: £84,150)

No guarantees have been given or received.

22 Analysis of changes in net funds

The charity had no debt during the year.

• 22 -

THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2022

23 Cash generated from operations Surplus/(deficit) for the year Adjustments for: Investment income recognised in statement of financial activities Donations from connected charity Loss on disposal of investments Fair value gains and losses on investments Depreciation and impairment of tangible fixed assets Movements in working capital: (Increase) in debtors Increase in creditors Increase in deferred income Cash absorbed by operations	2022 £ 1,152,586 (711,361) - 375,248 (1,594,281) 1,459 (37,893) 15,456 10,087 (788,699)	2021 £ (70,749) (737,959) 28,346,854 - 24,057 1,519 (1,767) 151,780 2,828 (753,418)

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