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← The Rose Foundation

2023-10-31-accounts

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R E P O R T

by the Trustees of

THE ROSE FOUNDATION (Registered Charity No.1167144)

1[st] November 2022 - 31[st] October 2023

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The Rose Foundation Trustees Report for 1/11/2022 – 31/10/2023

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1 STRUCTURE, GOVERNANCE AND MANAGEMENT

a) Constitution

The Rose Foundation is a charitable incorporated organisation constituted by a Deed dated 12[th] March 2014. The trust funds are applied for general charitable purposes as determined at the discretion of the Trustees.

b) Organisational Structure

The Trust is administered by a Board of four unpaid Trustees who determine overall strategy of the projects undertaken and the investment and control of the Trust assets. The Trustees meet formally three times a year, but constantly consult informally. The daily affairs of the Trust are dealt with by an administrator who regularly reports directly to the Trustees and is assisted by an additional staff member.

The Trustees who served during the year were:

Paul Rose Martin Rose John Rose Alan Rose Deborah Edery (appointed 30 May 2023) Philip Rose (appointed 30 May 2023)

The Board of Trustees as a body can appoint new members to act on behalf of the charity under the statutory power given to them. On appointment new Trustees are appraised of the constitution, financial and all other relevant matters appertaining to the charity. They are also advised as to the responsibilities placed upon them as Trustees pursuant to charity law and good practice. Where considered necessary appropriate training is provided both initially and on an ongoing basis.

We have continued to employ the existing staff, for whose sustained loyalty the Trustees are very grateful. Amongst other duties, John Madden continued to undertake external and internal maintenance works to the St John Ambulance project, at a significant cost saving to the employment of an independent contractor.

Following review of the nature and cost of our legal and accountancy advisers, the Trustees continue to employ them.

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The Rose Foundation Trustees Report for 1/11/2022 – 31/10/2023

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Of the Trustees, Alan Rose is resident in the United States, but visits the U.K. periodically during each year and is otherwise advised of and votes where necessary on matters arising. Aside from his inspections of UK projects, Paul Rose visits the United States and inspects the building projects funded by The New Amsterdam Charitable Foundation.

Details of the charities and organisations with which the Trustees have a close connection in pursuit of their charitable activities are given in section 2e) below.

c) Risk Assessment

The Board has examined the principal areas of the Charity’s operations and considered the major risks faced in each of these areas. The Trustees have assessed the major risks to which the charity is exposed and are satisfied that there are systems in place to mitigate exposure to such risks.

2 OBJECTIVES AND ACTIVITIES

a) Donation Policy

The Trustees continue to seek to benefit as large a number of people as possible, rather than providing large donations to a small specific group. In line with this the charity carries out the following activities for the public benefit:

In setting our programmes going forward the Trustees have regard to the Charity Commission’s general guidance on public benefit. The Trustees always ensure that the projects we undertake are in line with our charitable objects and aims. Donations are considered for the benefit of all classes of charity, whether made by telephone or in writing. The policy is to respond to all applications.

b) Building Projects

As stated above, the main emphasis of our work is to finance building projects for other registered charities. The broad aim of the Trustees is to spread the resources so as to benefit

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as wide a community as possible within budgetary constraints. Donations are usually between £5,000 and £10,000. These projects are mostly located in or near London in order that the Trustees can effectively monitor their progress. We become involved with the design and construction process, ensuring wherever possible economy of cost and effectiveness in design. The Trustees wish only to offer guidance and experience, leaving the final decisions on the project details to be decided upon by the benefiting charity.

Applicants are encouraged to apply for schemes meeting the above criteria by the end of March each year. The next two months are used to shortlist projects and we usually commit to the following year’s schemes around mid-June. We indicate the project should either commence or be ongoing during the first seven months of the following year. This enables a sufficient lead time for the details of building construction, such as plans and specifications, to be agreed and, if appropriate, amended. The Trustees are involved throughout the design and construction process of the projects we assist. Once a project has been completed, a review is carried out to ensure that all the works undertaken are in line with the criteria agreed when the commitment was made. We seek to ensure that funds have been properly expended to their best effect and that the quality of the building works meets our standards.

The projects to which the Trustees had committed from the previous year are set out in Appendix 1 of this Report.

Commitment to many of our projects is made considerably in advance of the start of construction. During the course of the year the Trustees resolved to commence a number of additional schemes which, together with the existing commitments identified above and some projects which we reported as being incomplete in our report last year, are detailed in Appendix 2 of this Report.

c) Other Grant Funding

Donations are made, to a lesser extent, to other charities when funding is available and the cause is especially worthwhile.

d) Direct Involvement

We also support charitable projects in which we undertake a more direct role, information regarding which can be found in the sections below, namely “The St John Ambulance Training Centre”, “Ante Natal Results and Choices (ARC)” and “The New Amsterdam Charitable Foundation”.

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The Rose Foundation Trustees Report for 1/11/2022 – 31/10/2023

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All the Trustees, both in the United Kingdom and in the United States, have offered their time and property experience to help other charities. Some of the assistance requested has involved complex property issues.

e) Assistance to other charities

In the year under review the Trustees also donated their time to assist other charities. Time and advice were given to the Trustees and staff of the following: Mote Marine Laboratory (Alan Rose is a Trustee) Mote Marine Foundation (Alan Rose is a Trustee)

St Martha Catholic Church (Alan Rose sits on the Parish and the Finance Council) Suncoast Foundation for Handicapped Children (Alan Rose is a Trustee) Centre for Peaceful Solutions (Paul Rose is a Trustee)

Charity of the Worshipful Company of Arbitrators (Paul Rose is both a Trustee and Chair) St Francis of Assisi Catholic Church, Diocese of Westminster (Paul Rose sits on the Finance Committee)

The Wigoder Family Foundation (Martin Rose is a Trustee)

Span Trust (Martin Rose is a Trustee)

f) The St John Ambulance Centre

We have received this report from St John Ambulance.

St John Ambulance is England’s leading community first aid and health response charity.

From helping young people become the healthcare professionals of tomorrow, to world class training, education and emergency response services, St John Ambulance empowers people of all ages and abilities with lifesaving skills and the confidence to use them in their communities, every day.

St John people know that community first aid saves lives. They deliver compassion and care

at major events – everything from marathons to music festivals – provide the nation’s ambulance auxiliary, teach lifesaving workplace training courses, offer insightful youth programmes and positively support community resilience all over the country.

Approximately 50% of St John’s volunteers are young people, many of whom will go on to become doctors, nurses and paramedics in the healthcare industry.

Volunteers give up their time to keep their communities safe and are funded by the generosity of public donations.

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In 2023, St John people were proud to support the many major events taking place throughout the year, including the King’s Coronation, London Marathon, Great North Run, Remembrance Day and the Restart a Heart campaign, to name a few.

St John’s values of humanity, excellence, accountability, responsibility, and teamwork continue to shape our delivery and the work that we do.

The Crawford Street premises allows St John Ambulance to provide its vital workplace and mental health first aid training to around four thousand people in a normal year. It is a vitally important asset to St John Ambulance and the wider London community.

Through its HSE-recognised ‘First Aid at Work’ training course, St John provides a comprehensive set of practical skills needed by first aiders in most workplaces, giving both the ability and knowledge to deal with first aid emergencies.

Through its ‘Mental Health First Aid’ courses, St John helps raise awareness of mental illness, enabling people to support themselves and others to aid recovery. The courses are designed to reduce stigma through education and increase the provision of care for those who have a mental illness.

Through its youth programmes St John teaches young people first aid along with other important life skills, such as leadership and developing confidence, as well as engaging them in social action and helping the local community.

For more details of our commissioned work, volunteering, training opportunities and how we are working towards a community-focused future, including how donations make St John Ambulance’s work possible, visit sja.org.uk.

g ) Antenatal Results and Choices (ARC)

We have received this report from ARC.

Antenatal Results and Choices (ARC)

Report to the Rose Foundation on our work and impact in 2022-23

Overview – charitable mission and aims

ARC is the only UK-wide charity providing impartial information and support to parents

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throughout antenatal screening and its consequences. We are here for parents when they are given difficult news from scans or genetic tests that their baby is not developing as expected, is likely to need treatment after birth or may not survive. We are here to ensure they can gather the information they can about possible outcomes for their baby; we are here for those facing painful decisions about how to proceed; and we are here to help everyone through the aftermath of these decisions.

The current ARC staff team are:

Jane Fisher: Director Sally George: National Support Co-ordinator Hannah Coates: Liaison and Development Co-ordinator Jenny Price: Engagement and Development Co-ordinator Hannah McInnes-Dean: Research Associate Rebecca Hawkes: Community Fundraising and Administration Officer Karen McIntosh: ARC Co-ordinator in Scotland (based in Glasgow) Miranda Glen: ARC Co-ordinator in Wales (based in Powys) Suzie Heaney: ARC Co-ordinator in Northern Ireland (based in Belfast) Katy MacWard: Fundraising Development Officer Barbara Riley: Finance Officer Vic Swift: Admin support

Along with our national helpline (phone, email, live chat and text), ARC offers specialised support to those who go through the agony of ending a pregnancy after a prenatal diagnosis, from private forums to a UK-wide network of trained volunteer peer supporters, publications and bereaved parents meetings. We support those who continue their pregnancy after a diagnosis too, but given the almost limitless range of conditions that can be detected prenatally, we also signpost parents to conditionspecific organisations. We have strong working relationships with charities such as the Down’s Syndrome Association and SOFT UK (Edwards’ and Patau’s syndromes support).

ARC also works in partnership with UK healthcare professionals. We run an established programme of training to help equip staff to provide high-quality individualised care in especially challenging circumstances. We are also fortunate (as a small charity with just 12 staff and 19 volunteers) to have a voice with decisionmakers. ARC sits on the Fetal maternal and Child Health Co-ordinating Group feeding

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into the UK National Screening Committee, is a member of the NHS Fetal Anomaly Programme Advisory Group and the NHS England Clinical Reference Group for Specialised Women’s Services. We are sought out by journalists for expert comment and collaborate on clinical and academic research studies. To encourage good practice and increase consistency, we established an expert working group with 18 members in 2022, including specialist clinicians, midwives and policy leads. This will draft a consensus guidance document (for 2023 publication) that we are confident will help all units provide high quality care during antenatal screening.

The difference the Rose Foundation makes to ARC

We continue to count ourselves very lucky indeed to have the office space here at Crawford Mews. Having such a well-appointed and welcoming place makes a real difference as our team can work together in-person to deliver our helpline services and expand our reach to more parents and professionals across the UK. It also means that we can concentrate our fundraising staff and resources on raising support for our services, staff salaries and much-needed sustainable priorities.

In the period 2022-3 we have added a new Finance Officer, Barbara, to our staff team. Alongside our two new Coordinators, Jenny and Hannah, we now have more people physically working in the office which I really appreciate. Six of our staff now have fulltime or hybrid office-based contracts, and we also appreciate using our space for quarterly Trustee Board meetings at weekends. Our remote staff are spread out further afield, from Yorkshire to Wales, Scotland and Northern Ireland but enjoy coming into our welcoming office spaces when possible.

In 2022-23 we have concentrated on the impact ARC makes on users, considering quantifiable and qualitative data from user surveys and publishing our first Impact Review. Our helpline team has handled 6,540 contacts by phone and email from anxious expectant and bereaved parents. 94% of parents surveyed said their expectations were ‘Exceeded’ or ‘Met’ by our services:

“I accessed ARC’s website the moment our baby was given a fatal diagnosis in March ‘23. The website became my lifeline, providing me with reassurance and useful resources.” Parent survey

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We have continued deliver our reputable training to doctors, midwives, sonographers, genetic counsellors and students across the UK. In 2022-23 we reached 1,039 professionals (55 in-person sessions and 24 online) and a further 3,000 via talks and stands at 10 national conferences and forums. We are grateful for the private office space as we could securely run our monthly Zoom ‘Case cafés’ - a chance for professionals to informally discuss a range of sensitive topics - and coordinate our online conference in September 2023. Entitled Learning from Each Other – A Four Country View, this was attended by 189 professionals across the UK, who fed back that: “The whole day was inspiring and educational. It has made me reflect on my role and where the value is.”

We always evaluate our work and are grateful for feedback to develop our services – particularly as aim to become a more geographically- and demographicallyaccessible offer. In our professionals survey, 99% of respondents said they would recommend ARC to their colleagues and and 75% have attended ARC training in some form. Feedback highlighted our unique training offer:

“Excellent training overall, acknowledgement of the impact on the parents and the emotional burden of decision-making on a family.” Professional survey

ARC remains incredibly grateful to the Rose Foundation for their extraordinary generosity in donating our office space, telephone and IT costs. As tough economic times continue in 2023, we can face the future with confidence and I know we, and more importantly the parents and professionals we serve, appreciate that beyond words.

Jane Fisher, Director

h) The New Amsterdam Charitable Foundation

Alan Rose monitors this Foundation's activities on the Trustees’ behalf and has maintained his participatory role in the activities of Mote Marine Laboratory, Suncoast Foundation for Handicapped Children, Inc. and of St Martha Catholic Church which are included amongst the ultimate beneficiaries. Recipients have been required to confirm the propriety of their charitable purposes and to provide supportive documentation.

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Details of those who have benefited during the period 1[st] November 2022 to 31[st] October 2023 are set out in Appendix 4.

3 ACHIEVEMENTS AND PERFORMANCE

A detailed review of the progress achieved with our various charitable projects is given in the attached appendices.

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4 FINANCIAL REVIEW

a) Review of Financial Position

The net expenditure for the year, excluding capital returns, amounted to £306,757 (2022 £66,447).

The total income received was £881,158 compared to £1,201,248 in the prior year . This is a decrease of £320,270 compared to the previous year mainly due to a decrease in investment income received. This revised income level reflects a change of investment policy more based on a capital appreciation strategy rather than the fixed income strategy applied in prior years (see below for more details)..

Charitable expenditure totalled £1,087,549 compared to £1,149,331 in the prior year being a decrease of £61,782. Grants payable totalled £922,570 (2022 - £1,008,700) and were in line with anticipated expenditure. The charity has set an ultimate target of a break-even position before investment returns are taken into account. This was not achieved in the year under review when a deficit of £498,233 arose but this was covered by the surplus that accrued in the prior year. The capital returns in the year amounted to a loss of £191,476 (2022-Gain £1,219,033) relating to the investment portfolio. Further comment is made on these matters below. Further details of the grant payments made are detailed in the accounts and also later in this report.

Other charitable expenditure amounted to £120,695 (2022 - £103,381), an increase of £17,314. Such increase was mainly as a result of an increase in office overheads and staff costs. Support costs in the form of governance costs increased by £7,034 to the sum of £44,284.

Investment management fees were £88,000 compared to £102,314 in the prior year. These charges represent annual fees of approximately 0.5% (2022 - 0.5%) of overall portfolio value, a level which we believe is not unreasonable.

In recent years a fixed income strategy target was set with a return of 4% per annum in order to achieve a break-even position. In the year under review the investment portfolio showed an unrealized gain of 1% (2022 Gain 6%). During the year the investment strategy has been amended but the targeted overall return of 4% per annum has been retained (see below).

b) Tangible Fixed Assets

The Trustees retain the use of a freehold property known as 28 Crawford Street, London W1.

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This is partly used by the Charity for its own purposes, but the majority of the accommodation is let to other Charities and residential tenants at full market rents. In the opinion of the Trustees, the market value of the property at 31 October 2023 was £12,000,000. As a result, a revaluation adjustment was made in the year under review of £202,014.

c) Investment Policy

The Trustees have a general power of investment under the terms of the Constitution and the management of the Charity’s investment funds is delegated to professional investment managers. As none of these funds are permanently endowed, the Board’s investment policy in prior years was to aim for an average income return of 4%, which was commensurate with anticipated future spending requirements. The actual result achieved in the year was circa 1% when both capital and income returns were taken into account. Thiis less favourable result was caused by the difficult economic conditions that existed in the year and a change of investment strategy (See below).

.

During the year under review there was a decrease in the value of the investment portfolio recorded in the accounts of £191,476. This mainly resulted from the adverse market conditions that existed following the war in Ukraine. Markets have significantly recovered since the year end.

As described in (b) above the Trustees have carried out a regular review of investment performance and opportunities. As a result of the latest review the Trustees decided that an amendment to the charity’s current strategy was required as the investment arena has changed following recent rises in interest rates. Therefore, the Trustees decided that the portfolio would move away from a fixed income strategy to a more flexible approach going forward with overall capital and income returns targeted at the rate of 4% per annum. Originally it was mooted that an 8% per annum target be assumed but subsequently it was decided to retain the more realistic target of 4% given the ever challenging conditions that financial markets are operating in.

d) Reserves

Reserves are that part of The Rose Foundation’s income funds that are freely available for its general purposes, i.e., the resources that The Rose Foundation has or can make available to spend for all or any of the Charity’s purposes, once it has met its commitments and covered its other planned expenditure. The Trustees have an implied power in the exercise of their discretion to retain funds where it is necessary in the charity’s best interests to do so. The Trustees regularly review and amend their future expenditure plans to take account of

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anticipated income receipts, arising from their capital base. Thus, the Trustees believe that it is both reasonable and necessary to retain reserves at their current level of £18,769,821 as represented by the value of net assets less the value of the fixed assets retained by the Trustees. This supports the maintenance of the current grant policy of the charity.

5 TRUSTEES DISCLOSURE TO AUDITORS

Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

6 PLANS FOR FUTURE PERIODS

Details of future commitments are listed in Appendix 3.

By order of the Board

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M ROSE (Trustee) P ROSE (Trustee)

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APPENDIX 1 (UNAUDITED)

PREVIOUS YEAR’S COMMITMENTS

The following commitments were made in 2022:

1. All Souls Church of England Primary School 2023 Project

2. Central Synagogue 2023 Project

3. Copef Training Skills 2023 Project

4. Donmar Warehouse 2023 Project

£5,000 to pay for the upgrading of the boat’s central heating system and replacing/upgrading and installing the on-shore storage unit at Paddington Central.

8. Foundling Museum 2023 Project

£5,000 towards lighting improvements.

9. Great Walstead School 2023 Project

10. House of St Barnabas 2023 Project

11. Jewish Blind & Disabled 2023 Project

£5,000 for refurbishment of ladies and gents disabled communal toilets in Mill Hill East – Frances & Dick James Court.

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12. Jewish Care 2023 Project

13. Jewish Community Secondary School 2023 Project

14. King’s College London 2023 Project

15. LIMS 2023 Project

16. Maccabi London Brady Recreational Trust 2023 Project

17. Mayhew Animal Home 2023 Project

18. Museum of London 2023 Project

21. Norwood 2023 Project

22. Old Royal Naval College 2023 Project

23. Old Vic 2023 Project

24. Paddington Arts 2023 Project

25. Pleasance Theatre 2023 Project

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£5,000 towards the installation of an air conditioning and ventilation system for the dressing rooms and green room.

26. Regent’s Park Open Air Theatre 2023 Project

27. Royal Academy of Music 2023 Project

29. Royal Court Theatre 2023 Project

30. Society of Antiquaries 2023 Project

31. Soho Theatre 2023 Project

32. St Anne’s Limehouse 2023 Project

34. St Marylebone School 2023 Project

35. The Royal Institution 2023 Project

37. Training Ship Broadsword 2023 Project

38. Triangle Adventure Playground 2023 Project

£5,000 towards the installation of an aerial walkway.

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39. Union Chapel 2023 Project

£5,000 towards improvements to the outdoor space at the playing fields and pavilion on Hocroft Road.

41. West London Synagogue 2023 Project

£5,000 towards the renovation and painting of the ceiling of the Sanctuary.

42. Zoological Society of London 2023 Project

43. St John Ambulance

Support for the St John Ambulance Training Centre located at Crawford Street.

44. Antenatal Results and Choices (ARC)

Support for their administrative and fundraising office located at Crawford Street.

45. The New Amsterdam Charitable Foundation

Continuing support for the work undertaken by this Foundation active in Florida.

46. Variety – the Children’s Charity

The Foundation seeks to fund a disabled school bus annually.

47. Action Against Cancer

Continuing financial support of Action Against Cancer by way of an annual donation.

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APPENDIX 2 (UNAUDITED)

YEAR’S ACHIEVEMENTS – DONATIONS MADE

1. All Souls Church of England Primary 2023 Project

Charity Reg No. 303292. All Souls School is primarily a Church of England school providing educational primary and junior facilities for the local Westminster community.

The Trustees pledged £5,000 towards the installation of new energy efficient lighting to three classrooms on the ground floor. However, it was subsequently felt that the greater need was to improve the lighting in the library, work which was carried out in April of 2023 to a high standard. The work has had a positive impact on the school’s energy bills.

2. Central Synagogue 2023 Project

Charity Reg No. 242552. The Central Synagogue provides weekly services and services on the sabbath. It has a special interest in holocaust education and leads multi-faith trips to concentration camps. It also hosts annual conferences on the history of Jewish music.

The £6,000 which The Rose Foundation agreed to provide was initially towards the funding of the repair of chandeliers. However, a more pressing project was identified, being repairs to an area of water ingress in the building. The work was completed effectively and the issue no longer is a problem.

3. Copef Training Skills 2023 Project

Charity Reg No. 1146606. Copef provide general advice, building capacity support and promote Africa diaspora culture activity, in particular for Congolese and Angolan communities in United Kingdom and Africa. They also provide services for children, young people and families.

We pledged £5,000 towards the cost of the refurbishment and redecoration of their food bank hub in Brixton. This included redecoration of the main store and the installation of a new floor covering. The works were carried out to a high standard benefitting all those who use the hub.

4. Donmar Warehouse 2023 Project

Charity Reg No 284262. The Donmar Warehouse is an intimate 251 seat, subsidized theatre in Covent Garden, right at the heart of London’s West End. It is internationally renowned as

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one of the world’s principal producing theatres, having won over 100 major awards during its 24-year history.

The Trustees agreed to provide £5,000 towards the installation of CCTV cameras. These were installed in the early summer of 2023 to great effect, improving not only security, but also the welfare and safety of those who use the theatre.

5. English Heritage 2023 Project

Charity Reg No. 1140351. English Heritage is a registered charity that manages the National Heritage Collection. This comprises over 400 of England’s historic buildings, monuments and sites spanning more than 5,000 years of history.

£5,000 was donated towards the refurbishment and repair of the roof of the Ionic Temple at Chiswick House. The work was undertaken in the summer of 2023 to great effect, the water penetration now ceasing. The Trustees believe that good value was obtained for our donation.

6. Flash Musicals 2023 Project

Charity Reg No. 1094205. Established in April 1997, Flash Musicals is the brainchild of Terry and Deirdre Revill and was set up with a view to offering an opportunity for children from low income or disadvantaged families within the area to become involved in the performing arts. Flash Musicals is both a voluntary youth organisation and a registered charity.

The Rose Foundation’s donation of £5,000 was utilised to fund the construction of a new covered stage in the garden behind the centre. The work was carried out in the mid-winter of 2022/2023 to good effect, and the new stage is proving to be an exceptional addition to the Centre.

7. Floating Classroom (Beauchamp Lodge) 2023 Project

Charity Reg No. 1105466. Beauchamp Lodge seeks to promote opportunity and social inclusion through providing hands-on, imaginative learning experiences that change lives. They believe that education should be involving, exciting and fun. The programmes that they offer on the Floating Classroom, and the way they are taught, embody these values.

The Foundation has assisted the Floating Classroom for some years, and as in the past there were a number of different projects that could have been funded. However, on this occasion

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they focussed on improving the central heating on the boat with a grant of £5,000. The work was undertaken in the early winter of 2023 to great effect.

8. Foundling Museum 2023 Project

Charity Reg No. 1071167. The Foundling Museum in Brunswick Square, London tells the story of the Foundling Hospital, Britain’s first home for children at risk of abandonment.

The Trustees were able to provide £5,000 towards the installation of new energy efficient lights in the main stairwell and gallery areas. The work was undertaken early in 2023 and the improved lighting has had a huge impact, allowing visitors to see the artwork much more clearly. The lights are additionally more energy efficient.

9. Great Walstead School 2023 Project

Charity Reg No. 751662. Great Walstead School has a unique environment, where they can offer children the opportunity to learn in a wide range of ways. Whether they thrive in an outdoor, forest school setting, or love creative arts, sports or learning in a classroom, they have it all at Great Walstead.

£5,000 was provided towards the refurbishment and redecoration of boys’ and girls’ toilets in the reception year part of the school. The work included the installation of new sanitary ware, cubicles, flooring, and lights. Construction took place in the spring and represents excellent value for our donation.

10. House of St Barnabas 2023 Project

Charity Reg No. 207242. The House of St Barnabas recognise that gaining and maintaining paid work is instrumental to independence and security, and that in a society where there is so much disconnect it is important to have an environment where people feel connected.

£5,000 was provided by The Rose Foundation in order to assist with the redecoration and refurbishment of two rooms in the building: the IT suite and a meeting room. The work, which included new IT cabling, was installed during the early autumn of 2023 to great effect, improving both the looks and functionality of the offices.

11. Jewish Blind and Disabled 2023 Project

Charity Reg No. 259480. Jewish Blind and Disabled is the only Jewish charity providing state of the art mobility apartments for people from the age of 18 upwards, who are physically disabled or vision impaired.

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£5,000 pledged by The Rose Foundation Trustees was utilised to refurbish and redecorate two disabled toilets at the Frances and Dick James Court property. The work included the replacement of the floor, new lighting, new tiling and full redecoration. It was undertaken to excellent effect in the spring of 2023.

12. Jewish Care 2023 Project

Charity Reg No. 802559. Jewish Care is the largest health and social care organisation serving the Jewish community in London and the south-east of England. They run over 70 centres and services, caring for more than 7,000 people every week.

The Rose Foundation Trustees agreed to provide £5,000 towards another LED lighting installation project. In the context of increased utility costs and general lighting efficiency, applications for assistance in this regard have been prevalent in recent months. The work was carried out to fine effect and good value was obtained for The Rose Foundation’s donation.

13. Jewish Community Secondary School 2023 Project

Charity Reg No. 1107705. JCoSS is a state funded Jewish secondary school in New Barnet, London. Established in 2010, it is the first Jewish cross-denominational secondary school in the UK.

The Rose Foundation’s donation of £5,000 was employed to create a new corridor, enclosing various study areas, resulting in their proper use as classrooms. Prior to this construction these rooms could only be used at certain times and there were a number of distractions. As a result of our funding, a new IT and two other classrooms have been established and are now in full use.

14. King’s College London 2023 Project

Charity Reg No. Exempt. King’s College London is a public research university located in London and a founding constituent college of the federal University of London.

The Trustees agreed to provide £5,000 towards the cost of reconstructing a terrace. However, King’s College cut back on a number of projects in 2023, this being one, following which they struggled to find a project to commit our funds. As a result this project aborted, but we are encouraging King’s College to apply in the future.

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15. LIMS 2023 Project

Charity Reg No. 1139814. The London Mathematical Society (LIMS) is the UK’s learned society for mathematics. Its purpose is the advancement, dissemination and promotion of mathematical knowledge, both nationally and internationally.

It was agreed to provide £5,000 to create partitioning between various rooms in order to create new office space. Phase one of this work has been completed and we anticipate assisting with phase two during 2024.

16. Maccabi London Brady Recreational Trust 2023 Project

Charity Reg No. 1095196. London Maccabi Recreational Trust provides quality sports and recreational facilities and opportunities for all. They occupy a 50-acre site which includes two tennis courts, two netball courts, a bowls green, a cricket square and five football pitches. Their all-weather pitch with floodlights, completed in June 2009, is now being used daily by local schools and clubs.

The Foundation originally pledged £10,000 towards relaying the tarmac in the car park, which had become worn through use. However, a more urgent project was identified, being the provision of a new kitchen. This was constructed in the spring to a high standard.

17. Mayhew 2023 Project

Charity Reg No. 1077588. Mayhew are an animal welfare charity working to improve the lives of dogs, cats and the people in their communities. They do this from their home in London but are very active on the international scene.

The Foundation was able to provide £5,000 to pay for the installation of moveable shutters on the outdoor cat windows, so that when dogs are in the garden, the shutters can be pulled down. The work was carried out in April and has proved to be most effective.

18. Museum of London 2023 Project

Charity Reg No. 1139250 . The Museum of London tells the story of the capital from its first settlers to modern times. They have sites in central London, Docklands and in Hackney.

£5,000 was donated towards the provision of upgraded lighting throughout the Docklands Museum. The improvement has made the exhibits significantly more visible and we believe that we have obtained good value for our donation.

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19. National Theatre 2023 Project

Charity Reg No. 224223 . The Royal National Theatre (generally known as The National Theatre and commonly as The National) in London is one of the UK’s two most prominent publicly funded theatre companies. Since 1988, the theatre has been permitted to call itself the Royal National Theatre, but the full title is rarely used. The theatre presents a varied programme, including Shakespeare and other international classical drama; together with new plays by contemporary playwrights.

The Rose Foundation’s donation of £10,000 was utilised to fund the upgrade of fire doors in one of the stairwells. This was part of an ongoing project to replace doors leading onto the major stairwells throughout the building. They are a big improvement and provide better fire safety in the theatre.

20. Nightingale Hammerson 2023 Project

Charity Reg No. 224223. Nightingale Hammerson is an independent charity which has been serving the community for over 170 years. They offer a range of services tailored to meet the needs of each of their residents. They run two care homes: Nightingale House in southwest and Hammerson House in northwest London. They pride themselves in providing high quality holistic care in a safe and stimulating environment.

The Rose Foundation’s pledge of £5,000 was originally to be utilised for the creation of parking spaces in Nightingale House. However, the Local Authority objected so the funds were instead used to resurface a communal area. Following this, the dining area has now a hardwearing surface which is easy to clean and the meeting area has a more sympathetic carpet covering.

21. Norwood 2023 Project

Charity Reg No. 1059050. Norwood helps to change the lives of thousands of people with learning disabilities, and children and families in need each year, one by one. Their vision is for people to live the life they choose. It is their mission to support each and every child, adult and family to meet their aspirations, whatever their ability and whatever their ambitions.

The Rose Foundation Trustees provided £5,000 towards the construction of a new astroturf area behind the main building, which provided a facility for fresh air and outdoor activities. The work was done in the early winter and has proved to be highly effective.

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22. The Old Royal Naval College 2023 Project

Charity Reg No. 1062519. The Greenwich Foundation for the Old Royal Naval College was established in 1997 as a charity to conserve the magnificent Baroque buildings and grounds for present and future generations, and to provide opportunities for wide and diverse audiences to enjoy and share its significance.

£5,000 was provided to assist with the creation of a passage between two basement rooms. The work involved knocking down an existing wall and levelling floors, so that smooth disabled access between the rooms could be achieved. It was a complex project which completed in October 2023.

23. The Old Vic Theatre 2023 Project

Charity Reg No. 1072590. The Old Vic was set up as a charitable trust in 1998. They produce a number of plays and performances each year.

The Trustees agreed to provide £5,000 towards the redecoration of 3 offices. The decoration successfully transformed the entire area which is now bright and spacious and has been welcomed by all those who use the rooms.

24. Paddington Arts 2023 Project

Charity Reg No. 298879. Paddington Arts is a Youth Arts organisation committed to developing talent and creativity in the community. They encourage young people to use the arts for self-expression and career development. They run a dedicated Performing Arts and Media Centre for young people in West London, offering workshops in dance, drama, video, singing and design.

The Rose Foundation originally pledged £5,000 towards the installation of new energy efficient lights, but it was subsequently decided that maintenance of the floor in the main hall was a bigger priority. This work was undertaken in January 2023, and unsightly and dangerous cracks were filled in and sealed. The floor was then painted in high quality durable paint to extend the life of the repairs. The main dance area is now in permanent use.

25. Pleasance Theatre 2023 Project

Charity Reg No. 1050944. The Pleasance Theatre has an international profile and an network of alumni that reads like a who’s who of contemporary comedy, drama and entertainment. The Pleasance is a place for the experimental and the new. It is where audiences come in their tens of thousands.

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The £5,000 provided by The Rose Foundation was utilised towards improving ventilation and air conditioning in two green rooms. This was vital, given that neither room had windows or natural light. As a result both rooms can now be used at all times of the year.

26. Regent’s Park Open Air Theatre 2023 Project

Charity Reg No. 231670. Regent’s Park Open Air Theatre is based in Regent’s Park in central London.

The Trustees were able to provide £5,000 to pay for the relocation of main electricity cables which were previously running over a walkway at the theatre. The new route for the cables has removed a trip hazard and allows for an expansion of facilities in the future.

27. Royal Academy of Music 2023 Project

Charity Reg No. 310007 The Royal Academy of Music in London, England is the oldest conservatoire in the UK, founded in 1822 by John Fane and Nicholas-Charles Bochsa. It received its Royal Charter in 1830 from King George IV, with the support of the first Duke of Wellington.

The Foundation committed £5,000 towards the full refurbishment of an instrument storage room. The project involved the full redecoration of the room, removing unnecessary shelving and installation of new secure storage areas for instruments. The work has been carried out to a high standard.

28. Royal Academy of Arts Schools 2023 Project

Charity Reg No. 1125383. The Royal Academy of Arts is an art institution based in Burlington House on Piccadilly. The Royal Academy of Arts has a unique position in being an independent, privately funded institution led by eminent artists and architects, whose purpose is to promote the creation, enjoyment and appreciation of the visual arts through exhibitions, education and debate.

The original utilisation of the £5,000 donation provided by The Rose Foundation was to construct a new area to display various casts in the Life Drawing Room. However, it became clear that the project would not be capable of completion in the time allocated, so instead our funding went towards the creation of new storage areas in the building. These were located in a mezzanine which was stripped back and redecorated to a simple standard. The project

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provided the school with desperately required additional storage space which will be utilised to the fullest.

29. Royal Court Theatre 2023 Project

Charity Reg No. 231242. The Royal Court Theatre is Britain’s leading national company dedicated to new work by innovative writers from the UK and around the world.

Once again our original project gave way to a different one. The £5,000 that the Trustees were able to donate was eventually donated towards a lift refurbishment project, one mandated by health and safety requirements. The work was undertaken in the autumn of 2023 and the equipment is now fully operational.

30. Society of Antiquaries 2023 Project

Charity Reg No. 207237. The Society of Antiquaries of London is a heritage charity that promotes understanding of the human past and recognises distinction in this field through election to its fellowship. The Society was founded in 1707, and today comprises 3,000 fellows.

The Rose Foundation donated £5,000 to pay for the installation of CCTV and new alarm system. The work was carried out to a high standard and has improved security in the building.

31. Soho Theatre 2023 Project

Charity Reg No. 267234. Soho Theatre has established itself as a major new writing theatre and a writers’ development organisation of national significance. With a programme spanning theatre, comedy and writers’ events and home to a lively bar, Soho Theatre is one of the most vibrant venues on London’s cultural scene.

The £5,000 donation provided by The Rose Foundation was eventually employed to fund an air conditioning project in the Soho Upstairs space. The units, which can both warm or chill an area, are proving vital in extremes of weather.

32. St Anne’s Limehouse Church 2023 Project

Charity Reg Nos. 1164249 & 288889. St Anne’s was designed by Nicholas Hawksmoor and consecrated in 1730. It is grade one listed and the churchyard and surrounding area is designated as a conservation area. The building has undergone 40 years of restoration so far, to make it structurally sound and more appropriate for modern use.

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The Trustees provided £5,000 which was utilised to repair partially the main stained glass window in the church. This is a long term project, but the element which we funded has been completed.

33. St John’s Hospice 2023 Project

Charity Reg No.235822. St John’s Hospice, an independent charity located within the Hospital of St John and St Elizabeth in St John’s Wood, provides specialised palliative care to more than 3,000 terminally ill patients and their families every year.

The Foundation pledged £5,000 towards the Hospice’s counselling room renovation. The work was undertaken in the summer of 2023, with the element that The Rose Foundation funded now fully completed.

34. St Marylebone School 2023 Project

Charity Reg No. 312756. The St Marylebone CE School is a thriving example of how great education can be. Their culture of achievement is fuelled by a love of learning, grounded in Christian values and driven by a dynamic creativity and a joyful sense of community.

The Trustees were able to contribute £5,000 towards the construction of a new shower room for female members of staff. Work began in the spring of 2023 and completed in the summer. The new facility is an important addition to the school, with particular regard to providing excellent facilities for the staff.

35. The Royal Institution 2023 Project

Charity Reg No. 227938 . The Royal Institution is an independent charity dedicated to connecting people with the world of science.

Although the original intent of our £5,000 donation was to facilitate the installation of new lights in the main lecture theatre, the Institution instead decided to prioritise the upgrading and replacing of an air conditioning unit that was central to one of their laboratories continuing to be operative. The work has commenced and our contribution has been fully utilised.

36. The Wallace Collection 2023 Project

Charity Reg No. Exempt. The Wallace Collection is an internationally outstanding collection which contains unsurpassed masterpieces of paintings, sculpture, furniture, arms and armour

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and porcelain. Built over the 18[th] and 19[th] centuries by the Marquesses of Hertford and Sir Richard Wallace, it is one of the finest and most celebrated collections in the world.

The Rose Foundation was able to provide £5,000 towards the redecoration and refurbishment of the male and female toilets in the basement of the building. The toilets were in a poor state of repair, but with the work now completed, new flooring, lighting and sanitary ware have been installed, together with the whole area being redecorated. The toilets now provide an improved area for staff to use.

37. Training Ship Broadsword 2023 Project

Charity Reg No. 294517. The Sea Training Corps is a voluntary youth organisation for boys and girls. It aims to develop qualities of self-discipline and leadership and provides a service to the community. They believe this is an important function in today’s multicultural and multifaith society, and they aim to develop good citizens for the future.

The Trustees pledged £5,000 to assist with the installation of new ceiling tiles throughout the centre. The work was undertaken to a good standard and, as ever with Training Ship Broadsword, we believe that we have obtained excellent value for our donation.

38. Triangle Adventure Playground 2023 Project

Charity Reg No. 303145. The Triangle Adventure Playground was established in 1957 by Marjorie Porter MBE in collaboration with Lady Allen of Hertwood and the London Council. Of the first four APG’s to be established in England, only two now exist in name, and the Triangle is the only one still operating on its original site.

The £5,000 that The Rose Foundation provided was utilised to create tree top platforms laid across trees that surround the site. These finish in a slide that was already situated in the plant area. The result is both attractive, exciting and safe.

39. Union Chapel 2023 Project

Charity Reg No. 1010166. Union Chapel aims to be an affordable, high quality, performance space that provides a diverse programme of arts experiences. They encourage innovative, entertaining and educational approaches accessible to people of all abilities and backgrounds.

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The Foundation’s donation of £5,000 was used to assist with an accessibility project, with repairs to handrails, door railings, entrances and corridors. The result has improved access for disabled and less able visitors to the site.

40. University College School 2023 Project

Charity Reg No. 312748 University College School, generally known as UCS, is an independent school charity situated in Hampstead. The school was founded in 1830 by University College London and inherited many of that institution’s progressive and secular views. Remarkably original and probably unique at that time, the school today is increasingly well known and respected for its ethos of inclusivity, liberal scholarship and high academic standards.

The Rose Foundation donated £5,000 to contribute towards refurbishment of an old clubhouse located close to the school’s main playing fields. The work entailed the removal of asbestos and other complications but was completed successfully by the autumn of 2023. It has already proved to be a huge success with staff, parents and students.

41. West London Synagogue 2023 Project

Charity Reg No. 212143. The West London Synagogue of British Jews (commonly abbreviated as WLS) is a Reform Jewish synagogue and congregation near Marble Arch in London. It was established in 1840. Its current building in Upper Berkeley Street dates from 1870, making it the oldest standing Reform synagogue, and one of the oldest synagogues, in the United Kingdom.

The £5,000 which was provided by The Rose Foundation was utilised towards the refurbishment of a stained glass window, which was undertaken to a high standard and has been well received by the community.

42. ZSL 2023 Project

Charity Reg No . 208728. The Zoological Society of London (ZSL) is a charity devoted to the worldwide conservation of animals and their habitats. Their belief is that a diverse and healthy natural world is valuable in its own right and is essential for ensuring secure and healthy lives for people. They seek to motivate others to take conservation action in their daily lives.

The Foundation pledged £5,000 towards funding the full refurbishment of two toilet blocks in the main zoo. Unfortunately the project was substantially delayed and then finally did not take

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place. The Zoo apologised and the project proved abortive. No funds were provided, but ZSL has been encouraged to apply for a future project.

43. St John Ambulance

Charity Reg No. 1077265. Support for the St John Ambulance training centre located at Crawford Street. The Foundation provided £568,000 (2022 £553,000) to assist with funding of their day-to-day activities and extraordinary maintenance of their Crawford Street Centre. For more details, please see Section 2f) above.

44. Antenatal Results and Choices (ARC)

Charity Reg No 1148653. Support for their administrative offices located at Crawford Street. The Foundation donated £60,000 (2022 £70,000) to assist in the administration of their work at Crawford Street. For more details, please see Section 2g) above.

45. The New Amsterdam Charitable Foundation

Charity/IRS No. 65/0688223 . Continuing support for the work undertaken by this Foundation and The Rose Foundation donated £85,000 (2022 £84,150) to The New Amsterdam Charitable Foundation to assist with the funding of various capital projects in Florida, USA. For more details, please see Section 2h) above and Appendix 4 below.

46. Variety – The Children’s Charity

Charity Reg No. 209259. Variety seeks to provide special schools with new minibuses to accommodate the transportation of disabled children. They are an enormously efficient fund raiser, obtaining significant Government grants to ensure raised funds go a long way. The Rose Foundation’s aim is to donate sufficient amounts each year for the charity to purchase a minibus. In this financial year the Rose Foundation donated £25,000.

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APPENDIX 3 (UNAUDITED)

FUTURE COMMITMENTS

1. Alive and Kicking 2024 Project

2. Almeida Theatre 2024

£5,000 to pay towards the refurbishment of the WC in the administration building.

3. Camden Art Centre 2024 Project

£5,000 towards improvements to the windows and doors of the Grade 11 listed building.

4. Cardinal Hume 2024 Project

£5,000 towards recarpeting parts of the hostel.

5. Central Synagogue 2024 Project

£6,000 to pay for the Replacement of Winch System for Chandeliers.

6. Conway Hall 2024 Project

£5,000 towards repairs to the Main Hall roof.

7. Donmar Warehouse 2024 Project

£5,000 to pay for the Installation of new Doors and a Digital Access System.

8. Dulwich Picture Gallery 2024 Project

£5,000 towards the cost of refurbishing the Art Studio.

9. English Heritage 2024 Project

£5,000 towards the cleaning and repair of Lord Mansfield’s Bath House at Kenwood House.

10. Flash Musicals 2024 Project

£5,000 towards repairs to the Drama Room roof.

11. Floating Classroom (Beauchamp Lodge) 2024 Project

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£5,000 towards upgrades to the boat’s fire safety systems and fabricating and fitting a cavitation plate to the underside of the hull.

12. Gillespie School 2024 Project

£5,000 towards playground repairs at the school.

13. Great Walstead School 2024 Project

£5,000 towards installation of new lighting in the Music Department.

14. House of St Barnabas 2024 Project

£5,000 for the repair and restoration of the 2nd Floor Employment Academy Offices.

15. Jewish Blind & Disabled 2024 Project

£5,000 to upgrade the vinyl flooring at Frances & Dick James Court, NW7.

16. Jewish Care 2024 Project

£5,000 towards general work across the Jewish Care portfolio of care facilities.

17. Jewish Community Secondary School 2024 Project

£5,000 for the replacement of flooring in 6th form Common Room with vinyl floor covering.

18. LIMS 2024 Project

£5,000 towards redesigning the third floor space at The Royal Institution.

19. London Jewish Family Centre 2024 Project

£5,000 towards the installation of a disabled toilet.

20. Maccabi London Brady Recreational Trust 2024 Project

£10,000 towards the construction of a purpose-built office.

21. Mayhew Animal Home 2024 Project

£5,000 towards a bathroom and toilet upgrade.

22. Museum of London 2024 Project

£5,000 towards the installation of energy efficient lighting in the Wilberforce Room, Museum of London Docklands.

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23. National Theatre 2024 Project

£10,000 towards the replacement of fire doors.

24. Norwood 2024 Project

£5,000 towards a garden shed project for the residents.

25. Old Vic 2024 Project

£5,000 for a new voice fire alarm system.

26. Paddington Arts 2024 Project

£5,000 for the replacement of lights with LEDs.

27. Regent’s Park Open Air Theatre 2024 Project

£5,000 towards a toilet refurbishment project.

28 Rose Theatre 2024 Project

£5,000 for the improvement of the house lights.

29. Royal Academy of Music 2024 Project

£5,000 towards the refurbishment of toilet and kitchen facilities at St Mark’s Church. 30. Royal Academy Schools 2024 Project

£5,000 for the creation of a time based media workshop facility. 31. Royal Ballet School 2024 Project £5,000 towards the redecoration of the Nelson Room. 32. Royal Court Theatre 2024 Project

£5,000 for the repair of the ceiling in the bar and kitchen. 33. St Alban’s School 2024 Project £5,000 towards the refurbishment of the school Staffroom. 34. St John’s Hospice 2024 Project

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£5,000 for the revamping of the garden. 35. St Mary’s Bryanston Square 2024 Project £5,000 for the creation of an outdoor amphitheatre.

36. St Marylebone School 2024 Project £5,000 for staff room refurbishment. 37. St Paul’s Church 2024 Project £5,000 redecoration of the Church/community hall. 38. The Royal Institution 2024 Project £5,000 for improved wheelchair access. 39. Training Ship Broadsword 2024 Project £5,000 for new flooring in office and classrooms. 40. University College School 2024 Project £5,000 towards the construction of a Wellbeing Hub. 41. West London Synagogue 2024 Project £5,000 for the repair of the stained glass window in the Sanctuary. 42. Whitechapel Gallery 2024 Project £5,000 towards refurbishment of the male staff toilets and changing room. 43. St John Ambulance

Support for the St John Ambulance Training Centre located at Crawford Street. 44. Antenatal Results and Choices (ARC)

45.
46.		 Support for their administrative and fundraising office located at Crawford Street.
The New Amsterdam Charitable Foundation
Continuing support for the work undertaken by this Foundation active in Florida.
Variety– the Children’s Charity

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The Foundation seeks to fund a disabled school bus annually.

47. Action Against Cancer

Support for its extensive research.

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APPENDIX 4 (UNAUDITED)

THE NEW AMSTERDAM CHARITABLE FOUNDATION

Those who benefited during the period 1[st] November 2022 to 31[st] October 2023 were:

Mote Marine Laboratory

$5,900 was donated towards the continuing education and professional advancement of personnel.

$8,000 was donated toward the proceeds of the annual fundraising dinner.

$16,925 was donated towards a new Point of Sale system.

Suncoast Foundation for Handicapped Children Inc.

This Foundation meets the health, developmental and educational needs of the handicapped, and contributions “in kind” are specifically encouraged in order to limit its operational overheads. It specialises in construction projects that serve local organisations assisting handicapped people, with a special emphasis towards physically challenged children. $18,575 was donated towards the ongoing maintenance and improvement of facilities occupied by The Florida Center for Child and Family Development, the Children’s Haven and Adult Center, the Sertoma Speech Clinic, the Loveland Center, Children First, Boys and Girls Clubs, Challenger Basketball and Sarasota County Special Olympics.

Asolo Theater Company

$12,000 was donated to this theatre company which nurtures Florida State University graduate student actors.

Sarasota Performing Arts Centre Foundation (previously known as The Van Wezel Foundation Inc.)

$11,000 was provided to this foundation, whose mission is to support the Van Wezel Foundation Inc. performing arts hall through community outreach and special programmes.

St Martha Catholic Church

$10,000 was donated to this church, founded in 1889 as a Jesuit mission, and which since 1950 has operated a school for children with special learning needs.

36

The Rose Foundation Trustees Report for 1/11/2022 – 31/10/2023

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

Catholic Charities, Diocese of Venice

$6,000 was donated towards the social service agency that provides services to more than 40,000 people in south west Florida.

37

The Rose Foundation Trustees Report for 1/11/2022 – 31/10/2023

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

Charity Registration No. 1167144

THE ROSE FOUNDATION

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

(CHARITABLE INCORPORATED ORGANISATION)

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees M Rose
P Rose
J Rose
A Rose
D Edery (appointed 30 May 2023)
P Rose (appointed 30 May 2023)
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

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

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

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Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 OCTOBER 2023

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:

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.

Trustees are also responsible for the contents of the trustees’ report, and the responsibility of the auditor in relation to the trustees’ report is limited to examining the report and ensure that, on the face of the report, there are no inconsistencies with the figures disclosed in the financial statements.

The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

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 2023 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:

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.

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

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:

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 upon which we have based our assessment of the financial statements for the year ended 31 October 2023.

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:

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

Audit reponse to risks identified

Fraud due to management override

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

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:

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.

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

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.

==> picture [92 x 37] intentionally omitted <==

Talha Farrukh FCCA, ACA (Senior Statutory Auditor) for and on behalf of Gerald Edelman LLP

for and on behalf of Gerald Edelman LLP 23 August 2024 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.

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2023

Unrestricted
funds
2023
Notes
£
Income from:
Investments
3
384,682
Other income
4
496,476
Total income
881,158
Expenditure on:
Raising funds
5
100,366
Charitable activities
6
1,087,549
Total expenditure
1,187,915
Net expenditure before investment returns
(306,757)
Net gains/(losses) on investments
13
(191,476)
(498,233)
Other recognised gains and losses
Revaluation of tangible fixed assets
202,014
Net (expenditure)/income for the year
(296,219)
Fund balances at 1 November 2022
31,096,813
Fund balances at 31 October 2023
30,800,594		 Total
2022
£
711,361
490,067
1,201,428
118,544
1,149,331
1,267,875
(66,447)
1,219,033
1,152,586
-
1,152,586
29,944,227
31,096,813

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

BALANCE SHEET

AS AT 31 OCTOBER 2023

2023
Notes
£
£
Fixed assets
Tangible assets
14
12,030,773
Investments
15
19,031,015
31,061,788
Current assets
Debtors
17
47,915
Cash at bank and in hand
339,225
387,140
Creditors: amounts falling due within
one year
18
(648,334)
Net current liabilities
(261,194)
Total assets less current liabilities
30,800,594
Income funds
Unrestricted funds
30,800,594
The accounts were approved by the Trustees on 23 August 2024
Mr M Rose
Mr P Rose
Trustee
Trustee		 2022
£
£
11,455,838
19,844,380
31,300,218
42,684
456,369
499,053
(702,458)
(203,405)
31,096,813
31,096,813

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OCTOBER 2023

2023
Notes
£
£
Cash flows from operating activities
Cash absorbed by operations
26
(747,272)
Investing activities
Purchase of tangible fixed assets
(376,443)
Purchase of investments
(4,300,000)
Proceeds on disposal of investments
4,921,889
Investment income received
384,682
Net cash generated from investing
activities
630,128
Net cash used in financing activities
-
Net decrease in cash and cash equivalents
(117,144)
Cash and cash equivalents at beginning of year
456,369
Cash and cash equivalents at end of year
339,225		 2022
£
£
(788,699)
(3,954)
-
-
711,361
707,407
-
(81,292)
537,661
456,369

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

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 (2022: £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.

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

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 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.

Although this accounting policy is in accordance with the applicable accounting standard, FRS 102 Section 16, Accounting for investment properties, it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the trustees compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been charged cannot be separately identified or quantified.

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

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

The unquoted fixed asset investment are held at carrying value assessed annually for impairment.

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

1 Accounting policies

(Continued)

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.

1.8 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.

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

1 Accounting policies

(Continued)

1.9 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.

1.10 Retirement benefits

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

1.11 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.

1.12 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.

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.

Property, plant & equipment valuation

There were estimates and judgements made with regards to fair valuation of land and building under applicable guidance of FRS 102.

Impairment unquoted investments

There were also judgements made with regards to impairment assessment of unquoted investments under FRS 102.

3 Income from investments

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Income from listed investments 383,815 709,956
Interest receivable 867 1,405
384,682 711,361

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

4 Other income

Rental income from non investment assets
5
Raising funds
Property maintenance
Investment management
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 10)		 2023
£
496,476		 2022
£
490,067
2023
£
12,366
88,000
100,366
2023
£
20,101
34,265
50,602
3,522
12,205
120,695
922,570
44,284
1,087,549		 2022
£
16,230
102,314
118,544
2022
£
25,125
28,887
35,411
1,459
12,499
103,381
1,008,700
37,250
1,149,331

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

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
Antenatal Results & Choices
BFI Development
British Library
Cardinal Hume Centre
Central Synagogue
Centrepoint Soho
City of Westminster All Souls Primary School
Copef Training Skills
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
Kids Out
Kings College London
London Maccabi Recreational Trust
Mayhew Animal house
Medicinema
-
Museum of London
National Gallery
National Theatre
Carried forward		 2023
£
960,070
528,000
(565,500)
922,570
2023
£
-
10,000
-
60,000
-
-
-
-
-
2,500
5,000
5,000
7,500
5,000
5,000
5,000
-
5,000
5,000
-
5,000
9,200
5,000
1,000
-
10,000
5,000
5,000
-
-
155,200		 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
-
5,000
5,000
2,500
10,000
209,600

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

7 Grants payable

Grants payable
Brought forward
New Amsterdam Charitable Foundation
Nightingale Hammerson
Norwood Ravenswood
Old Vic Theatre
Old Royal Naval College
Paddington Arts
Pleasance Theatre
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
Society of Antiquaries
Soho Theatre Company
St Anne’s Limehouse
St Andrew's Youth Club
St Francis of Assisi Westminster Roman Catholic Diocesan Trust
St John Ambulance
St John's Hospice
St Mary's Bryanton Square
St Marylebone School
The Henry Craft Charitable Foundation
The Greenwich Foundation for the Old Royal Naval College
The Hilary Craft Charitable Foundation (Action Against Cancer)
The Royal Institution
The Variety Club
The Wallace Collection
Training Ship Broadsword
Triangle Adventure Playground Association
United Synagogue
University College School
Union Chapel
West London Mission
West London Synagogue
Others represented by 7 (2022: 12) grants
Grants paid in the reporting year		 (Continued)
2023
2022
£
£
155,200
209,600
85,000
84,150
5,000
2,500
5,000
5,200
-
5,000
-
5,000
5,000
5,000
5,000
-
5,000
5,000
-
5,000
5,000
-
-
5,000
1,700
5,000
-
5,000
-
5,000
5,000
-
5,000
5,000
2,500
-
-
5,000
1,500
-
568,000
553,000
5,500
7,500
-
5,000
5,000
5,000
-
5,000
2,500
-
5,000
-
10,000
5,000
25,000
25,000
5,000
5,000
5,000
5,000
5,000
-
10,000
-
2,500
7,500
2,500
-
-
2,500
12,000
5,000
3,470
5,900
960,070
992,850		 (Continued)
2023
2022
£
£
155,200
209,600
85,000
84,150
5,000
2,500
5,000
5,200
-
5,000
-
5,000
5,000
5,000
5,000
-
5,000
5,000
-
5,000
5,000
-
-
5,000
1,700
5,000
-
5,000
-
5,000
5,000
-
5,000
5,000
2,500
-
-
5,000
1,500
-
568,000
553,000
5,500
7,500
-
5,000
5,000
5,000
-
5,000
2,500
-
5,000
-
10,000
5,000
25,000
25,000
5,000
5,000
5,000
5,000
5,000
-
10,000
-
2,500
7,500
2,500
-
-
2,500
12,000
5,000
3,470
5,900
960,070
992,850
992,850

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

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

8 Net movement in funds 2023 2022
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements 17,160 15,360
Depreciation of owned tangible fixed assets 3,522 1,459

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 Support costs

Audit fees
Accountancy fees
Bank charges		 2023
£
17,160
24,220
2,904
44,284		 2022 Basis of allocation
£
15,360 Governance
21,890 Governance
- Governance
37,250

Governance costs includes payments to the auditors of £17,160 for audit fees and £nil for other services.

11 Employees

Number of employees

The average monthly number of employees during the year was:

Administration
Wages and salaries
Pension costs
Amounts reimbursed		 2023
Number
3
102,819
3,323
(55,540)
50,602		 2022
Number
3
86,447
4,231
(55,267)
35,411

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.

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

13 Net gains/(losses) on investments

Revaluation of investments
(Loss)/gain on sale of investments		 2023
£
(651,293)
459,817
(191,476)		 2022
£
1,594,281
(375,248)
1,219,033

14 Tangible fixed assets

Cost/Valuation
At 31 October 2022
Additions
Revaluation
At 31 October 2023
Depreciation and impairment
At 31 October 2022
Depreciation charged in the year
At 31 October 2023
Carrying amount
At 31 October 2023
At 31 October 2022		 Land and
buildings
£
11,450,000
347,986
202,014
12,000,000
-
-
-
12,000,000
11,450,000		 Fixtures,
fittings &
equipment
£
15,195
28,457
-
43,652
9,357
3,522
12,879
30,773
5,838		 Total
£
11,465,195
376,443
202,014
12,043,652
9,357
3,522
12,879
12,030,773
11,455,838

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 2023 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 £4,577,799.

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 £3.2 million and gave rise to net rental income in the year of £484,110 (2022: £473,837). This is represented by gross rents of £496,476 (2022: £490,067) less applicable expenses of £12,366 (2022: £16,230).

Under the terms of the leases the sum of £80,000 (2022: £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.

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

15 Fixed asset investments

UK Quoted
£
Cost or valuation
At 31 October 2022
4,019,504
Additions
-
Valuation changes
-
Disposals
(4,019,504)
At 31 October 2023
-
Carrying amount
At 31 October 2023
-
At 31 October 2022
4,019,504
16
Financial instruments
Carrying amount of financial assets
Equity instruments measured at cost less impairment
Carrying amount of financial liabilities
Measured at amortised cost
17
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 Foreign
unquoted
£
15,444,308
4,300,000
(651,293)
(62,000)
19,031,015
19,031,015
15,444,308		 Foreign
quoted
£
380,568
-
-
(380,568)
-
-
380,568
2023
£
19,031,015
560,539
2023
£
32,377
5,295
10,243
47,915		 Total
£
19,844,380
4,300,000
(651,293)
(4,462,072)
19,031,015
19,031,015
19,844,380
2022
£
19,844,380
621,708
2022
£
-
-
42,684
42,684

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

18 Creditors: amounts falling due within one year

Notes
Deferred income
19
Other creditors
Accruals
Deferred income
Arising from Rental income received in
advance		 2023
£
87,795
529,024
31,515
648,334
2023
£
87,795		 2022
£
80,750
565,500
56,208
702,458
2022
£
80,750

19 Deferred income

20 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

General funds
Previous year:
General funds		 At 1
November
2022
£
31,096,813
At 1
November
2021
£
29,944,227		 Incoming
resources
£
881,158
Incoming
resources
£
1,201,428		 Resources
expended
£
(1,187,915)
Resources
expended
£
(1,267,875)		 Gains and
losses
At
£
10,538
Gains and
losses
At
£
1,219,033		 31 October
2023
£
30,800,594
31 October
2022
£
31,096,813

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

(Continued)

21 Movement in unrestricted funds

General funds
Revaluation
reserve
£
£
Balance at 1 November 2022
21,395,671
9,701,142
Income
881,158
-
Expenditure
(1,187,915)
-
Quoted investments
2,940,772
(2,930,234)
Balance at 31 October 2023
24,029,686
6,770,908
Revaluation reserve is represented by:
Freehold property
(Opening balance £7,220,187
& movement £202,014)
7,422,201
Unquoted investments
(Opening balance £2,480,955
& movement -£1,829,662)
651,293
6,770,908		 Total
£
31,096,813
881,158
(1,187,915)
10,538
30,800,594

22 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		 2023
£
360,000
1,444,000
3,285,833
5,089,833		 2022
£
360,000
1,444,000
3,645,833
5,449,833

23 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.

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

23 Commitments (Continued)
£
Alive and Kicking 5,000
Almeida Theatre Company 5,000
Camden Art Centre 5,000
Cardinal Hume Centre 5,000
Central Synagogue 6,000
Conway Hall 5,000
Donmar Warehouse 5,000
Dulwich Picture Gallery 5,000
English Heritage 5,000
Flash Musicals 5,000
Floating Classroom 5,000
Gillespie School 5,000
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
London Institute of Mathematical Sciences 5,000
London Jewish Family Centre 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
Norwood 5,000
Carried forward 131,000

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

23 Commitments (Continued)
Brought forward 131,000
Old Vic Theatre Trust 5,000
Paddington Arts 5,000
Regent's Park Open Air Theatre 5,000
Rose Theatre 5,000
Royal Academy of Schools 5,000
Royal Ballet School 5,000
Royal Court Theatre 5,000
Royal Academy of Music 5,000
St Alban's School 5,000
St John's Hospice 5,000
St. Marylebone School 5,000
St. Mary's Bryanston Square 5,000
St. Paul's Church Community Centre 5,000
The Royal Institution 5,000
Training Ship Broadsword 5,000
University College School 5,000
West London Synagogue 5,000
Whitechapel Gallery 5,000
Total due within one year 221,000

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

24 Related party transactions

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 £85,000 (2022: £84,150) 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 (2022: £85,000).

During the year Flat 2 was occupied by the Trustee, Mr Paul Rose for the period of six months and paid rent of £17,940 to the charity as per the market rate.

No guarantees have been given or received.

25 Analysis of changes in net funds

The charity had no material debt during the year.

26
Cash generated from operations
(Deficit)/surpus for the year
Adjustments for:
Investment income recognised in statement of financial activities
(Gain)/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
(Decrease)/increase in creditors
Increase in deferred income
Cash absorbed by operations		 2023
2022
£
£
(498,233)
1,152,586
(384,682)
(711,361)
(459,817)
375,248
651,293
(1,594,281)
3,522
1,459
(5,231)
(37,893)
(61,169)
15,456
7,045
10,087
(747,272)
(788,699)

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

Charity Registration No. 1167144

THE ROSE FOUNDATION

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

(CHARITABLE INCORPORATED ORGANISATION)

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees M Rose
P Rose
J Rose
A Rose
D Edery (appointed 30 May 2023)
P Rose (appointed 30 May 2023)
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

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

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

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Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 OCTOBER 2023

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:

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.

Trustees are also responsible for the contents of the trustees’ report, and the responsibility of the auditor in relation to the trustees’ report is limited to examining the report and ensure that, on the face of the report, there are no inconsistencies with the figures disclosed in the financial statements.

The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

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 2023 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:

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.

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

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:

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 upon which we have based our assessment of the financial statements for the year ended 31 October 2023.

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:

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

Audit reponse to risks identified

Fraud due to management override

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

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:

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.

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

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.

==> picture [92 x 37] intentionally omitted <==

Talha Farrukh FCCA, ACA (Senior Statutory Auditor) for and on behalf of Gerald Edelman LLP

for and on behalf of Gerald Edelman LLP 23 August 2024 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.

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2023

Unrestricted
funds
2023
Notes
£
Income from:
Investments
3
384,682
Other income
4
496,476
Total income
881,158
Expenditure on:
Raising funds
5
100,366
Charitable activities
6
1,087,549
Total expenditure
1,187,915
Net expenditure before investment returns
(306,757)
Net gains/(losses) on investments
13
(191,476)
(498,233)
Other recognised gains and losses
Revaluation of tangible fixed assets
202,014
Net (expenditure)/income for the year
(296,219)
Fund balances at 1 November 2022
31,096,813
Fund balances at 31 October 2023
30,800,594		 Total
2022
£
711,361
490,067
1,201,428
118,544
1,149,331
1,267,875
(66,447)
1,219,033
1,152,586
-
1,152,586
29,944,227
31,096,813

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

BALANCE SHEET

AS AT 31 OCTOBER 2023

2023
Notes
£
£
Fixed assets
Tangible assets
14
12,030,773
Investments
15
19,031,015
31,061,788
Current assets
Debtors
17
47,915
Cash at bank and in hand
339,225
387,140
Creditors: amounts falling due within
one year
18
(648,334)
Net current liabilities
(261,194)
Total assets less current liabilities
30,800,594
Income funds
Unrestricted funds
30,800,594
The accounts were approved by the Trustees on 23 August 2024
Mr M Rose
Mr P Rose
Trustee
Trustee		 2022
£
£
11,455,838
19,844,380
31,300,218
42,684
456,369
499,053
(702,458)
(203,405)
31,096,813
31,096,813

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OCTOBER 2023

2023
Notes
£
£
Cash flows from operating activities
Cash absorbed by operations
26
(747,272)
Investing activities
Purchase of tangible fixed assets
(376,443)
Purchase of investments
(4,300,000)
Proceeds on disposal of investments
4,921,889
Investment income received
384,682
Net cash generated from investing
activities
630,128
Net cash used in financing activities
-
Net decrease in cash and cash equivalents
(117,144)
Cash and cash equivalents at beginning of year
456,369
Cash and cash equivalents at end of year
339,225		 2022
£
£
(788,699)
(3,954)
-
-
711,361
707,407
-
(81,292)
537,661
456,369

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

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 (2022: £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.

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

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 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.

Although this accounting policy is in accordance with the applicable accounting standard, FRS 102 Section 16, Accounting for investment properties, it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the trustees compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been charged cannot be separately identified or quantified.

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

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

The unquoted fixed asset investment are held at carrying value assessed annually for impairment.

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

1 Accounting policies

(Continued)

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.

1.8 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.

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

1 Accounting policies

(Continued)

1.9 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.

1.10 Retirement benefits

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

1.11 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.

1.12 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.

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.

Property, plant & equipment valuation

There were estimates and judgements made with regards to fair valuation of land and building under applicable guidance of FRS 102.

Impairment unquoted investments

There were also judgements made with regards to impairment assessment of unquoted investments under FRS 102.

3 Income from investments

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Income from listed investments 383,815 709,956
Interest receivable 867 1,405
384,682 711,361

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

4 Other income

Rental income from non investment assets
5
Raising funds
Property maintenance
Investment management
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 10)		 2023
£
496,476		 2022
£
490,067
2023
£
12,366
88,000
100,366
2023
£
20,101
34,265
50,602
3,522
12,205
120,695
922,570
44,284
1,087,549		 2022
£
16,230
102,314
118,544
2022
£
25,125
28,887
35,411
1,459
12,499
103,381
1,008,700
37,250
1,149,331

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

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
Antenatal Results & Choices
BFI Development
British Library
Cardinal Hume Centre
Central Synagogue
Centrepoint Soho
City of Westminster All Souls Primary School
Copef Training Skills
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
Kids Out
Kings College London
London Maccabi Recreational Trust
Mayhew Animal house
Medicinema
-
Museum of London
National Gallery
National Theatre
Carried forward		 2023
£
960,070
528,000
(565,500)
922,570
2023
£
-
10,000
-
60,000
-
-
-
-
-
2,500
5,000
5,000
7,500
5,000
5,000
5,000
-
5,000
5,000
-
5,000
9,200
5,000
1,000
-
10,000
5,000
5,000
-
-
155,200		 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
-
5,000
5,000
2,500
10,000
209,600

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

7 Grants payable

Grants payable
Brought forward
New Amsterdam Charitable Foundation
Nightingale Hammerson
Norwood Ravenswood
Old Vic Theatre
Old Royal Naval College
Paddington Arts
Pleasance Theatre
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
Society of Antiquaries
Soho Theatre Company
St Anne’s Limehouse
St Andrew's Youth Club
St Francis of Assisi Westminster Roman Catholic Diocesan Trust
St John Ambulance
St John's Hospice
St Mary's Bryanton Square
St Marylebone School
The Henry Craft Charitable Foundation
The Greenwich Foundation for the Old Royal Naval College
The Hilary Craft Charitable Foundation (Action Against Cancer)
The Royal Institution
The Variety Club
The Wallace Collection
Training Ship Broadsword
Triangle Adventure Playground Association
United Synagogue
University College School
Union Chapel
West London Mission
West London Synagogue
Others represented by 7 (2022: 12) grants
Grants paid in the reporting year		 (Continued)
2023
2022
£
£
155,200
209,600
85,000
84,150
5,000
2,500
5,000
5,200
-
5,000
-
5,000
5,000
5,000
5,000
-
5,000
5,000
-
5,000
5,000
-
-
5,000
1,700
5,000
-
5,000
-
5,000
5,000
-
5,000
5,000
2,500
-
-
5,000
1,500
-
568,000
553,000
5,500
7,500
-
5,000
5,000
5,000
-
5,000
2,500
-
5,000
-
10,000
5,000
25,000
25,000
5,000
5,000
5,000
5,000
5,000
-
10,000
-
2,500
7,500
2,500
-
-
2,500
12,000
5,000
3,470
5,900
960,070
992,850		 (Continued)
2023
2022
£
£
155,200
209,600
85,000
84,150
5,000
2,500
5,000
5,200
-
5,000
-
5,000
5,000
5,000
5,000
-
5,000
5,000
-
5,000
5,000
-
-
5,000
1,700
5,000
-
5,000
-
5,000
5,000
-
5,000
5,000
2,500
-
-
5,000
1,500
-
568,000
553,000
5,500
7,500
-
5,000
5,000
5,000
-
5,000
2,500
-
5,000
-
10,000
5,000
25,000
25,000
5,000
5,000
5,000
5,000
5,000
-
10,000
-
2,500
7,500
2,500
-
-
2,500
12,000
5,000
3,470
5,900
960,070
992,850
992,850

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

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

8 Net movement in funds 2023 2022
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements 17,160 15,360
Depreciation of owned tangible fixed assets 3,522 1,459

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 Support costs

Audit fees
Accountancy fees
Bank charges		 2023
£
17,160
24,220
2,904
44,284		 2022 Basis of allocation
£
15,360 Governance
21,890 Governance
- Governance
37,250

Governance costs includes payments to the auditors of £17,160 for audit fees and £nil for other services.

11 Employees

Number of employees

The average monthly number of employees during the year was:

Administration
Wages and salaries
Pension costs
Amounts reimbursed		 2023
Number
3
102,819
3,323
(55,540)
50,602		 2022
Number
3
86,447
4,231
(55,267)
35,411

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.

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

13 Net gains/(losses) on investments

Revaluation of investments
(Loss)/gain on sale of investments		 2023
£
(651,293)
459,817
(191,476)		 2022
£
1,594,281
(375,248)
1,219,033

14 Tangible fixed assets

Cost/Valuation
At 31 October 2022
Additions
Revaluation
At 31 October 2023
Depreciation and impairment
At 31 October 2022
Depreciation charged in the year
At 31 October 2023
Carrying amount
At 31 October 2023
At 31 October 2022		 Land and
buildings
£
11,450,000
347,986
202,014
12,000,000
-
-
-
12,000,000
11,450,000		 Fixtures,
fittings &
equipment
£
15,195
28,457
-
43,652
9,357
3,522
12,879
30,773
5,838		 Total
£
11,465,195
376,443
202,014
12,043,652
9,357
3,522
12,879
12,030,773
11,455,838

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 2023 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 £4,577,799.

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 £3.2 million and gave rise to net rental income in the year of £484,110 (2022: £473,837). This is represented by gross rents of £496,476 (2022: £490,067) less applicable expenses of £12,366 (2022: £16,230).

Under the terms of the leases the sum of £80,000 (2022: £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.

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

15 Fixed asset investments

UK Quoted
£
Cost or valuation
At 31 October 2022
4,019,504
Additions
-
Valuation changes
-
Disposals
(4,019,504)
At 31 October 2023
-
Carrying amount
At 31 October 2023
-
At 31 October 2022
4,019,504
16
Financial instruments
Carrying amount of financial assets
Equity instruments measured at cost less impairment
Carrying amount of financial liabilities
Measured at amortised cost
17
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 Foreign
unquoted
£
15,444,308
4,300,000
(651,293)
(62,000)
19,031,015
19,031,015
15,444,308		 Foreign
quoted
£
380,568
-
-
(380,568)
-
-
380,568
2023
£
19,031,015
560,539
2023
£
32,377
5,295
10,243
47,915		 Total
£
19,844,380
4,300,000
(651,293)
(4,462,072)
19,031,015
19,031,015
19,844,380
2022
£
19,844,380
621,708
2022
£
-
-
42,684
42,684

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

18 Creditors: amounts falling due within one year

Notes
Deferred income
19
Other creditors
Accruals
Deferred income
Arising from Rental income received in
advance		 2023
£
87,795
529,024
31,515
648,334
2023
£
87,795		 2022
£
80,750
565,500
56,208
702,458
2022
£
80,750

19 Deferred income

20 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

General funds
Previous year:
General funds		 At 1
November
2022
£
31,096,813
At 1
November
2021
£
29,944,227		 Incoming
resources
£
881,158
Incoming
resources
£
1,201,428		 Resources
expended
£
(1,187,915)
Resources
expended
£
(1,267,875)		 Gains and
losses
At
£
10,538
Gains and
losses
At
£
1,219,033		 31 October
2023
£
30,800,594
31 October
2022
£
31,096,813

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

(Continued)

21 Movement in unrestricted funds

General funds
Revaluation
reserve
£
£
Balance at 1 November 2022
21,395,671
9,701,142
Income
881,158
-
Expenditure
(1,187,915)
-
Quoted investments
2,940,772
(2,930,234)
Balance at 31 October 2023
24,029,686
6,770,908
Revaluation reserve is represented by:
Freehold property
(Opening balance £7,220,187
& movement £202,014)
7,422,201
Unquoted investments
(Opening balance £2,480,955
& movement -£1,829,662)
651,293
6,770,908		 Total
£
31,096,813
881,158
(1,187,915)
10,538
30,800,594

22 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		 2023
£
360,000
1,444,000
3,285,833
5,089,833		 2022
£
360,000
1,444,000
3,645,833
5,449,833

23 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.

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

23 Commitments (Continued)
£
Alive and Kicking 5,000
Almeida Theatre Company 5,000
Camden Art Centre 5,000
Cardinal Hume Centre 5,000
Central Synagogue 6,000
Conway Hall 5,000
Donmar Warehouse 5,000
Dulwich Picture Gallery 5,000
English Heritage 5,000
Flash Musicals 5,000
Floating Classroom 5,000
Gillespie School 5,000
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
London Institute of Mathematical Sciences 5,000
London Jewish Family Centre 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
Norwood 5,000
Carried forward 131,000

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

23 Commitments (Continued)
Brought forward 131,000
Old Vic Theatre Trust 5,000
Paddington Arts 5,000
Regent's Park Open Air Theatre 5,000
Rose Theatre 5,000
Royal Academy of Schools 5,000
Royal Ballet School 5,000
Royal Court Theatre 5,000
Royal Academy of Music 5,000
St Alban's School 5,000
St John's Hospice 5,000
St. Marylebone School 5,000
St. Mary's Bryanston Square 5,000
St. Paul's Church Community Centre 5,000
The Royal Institution 5,000
Training Ship Broadsword 5,000
University College School 5,000
West London Synagogue 5,000
Whitechapel Gallery 5,000
Total due within one year 221,000

Docusign Envelope ID: F7340468-2E76-4065-99A6-54BA6CA43FCBDocusign Envelope ID: C587BC38-4D92-4491-9DBD-460E3BFEB25D

THE ROSE FOUNDATION

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

24 Related party transactions

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 £85,000 (2022: £84,150) 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 (2022: £85,000).

During the year Flat 2 was occupied by the Trustee, Mr Paul Rose for the period of six months and paid rent of £17,940 to the charity as per the market rate.

No guarantees have been given or received.

25 Analysis of changes in net funds

The charity had no material debt during the year.

26
Cash generated from operations
(Deficit)/surpus for the year
Adjustments for:
Investment income recognised in statement of financial activities
(Gain)/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
(Decrease)/increase in creditors
Increase in deferred income
Cash absorbed by operations		 2023
2022
£
£
(498,233)
1,152,586
(384,682)
(711,361)
(459,817)
375,248
651,293
(1,594,281)
3,522
1,459
(5,231)
(37,893)
(61,169)
15,456
7,045
10,087
(747,272)
(788,699)