Charity Registration No. 1171808 THE ROWLAND BROTHERS FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 ## THE ROWLAND BROTHERS FOUNDATION ## LEGAL AND ADMINISTRATIVE INFORMATION ## nam enrrreninee Trustees Mr S NA Rowland Mr AB A Rowland MBE Mr M Spooner: (Appointed 20 July 2020) Mr J Walking (Appointed 20 July 2020) Mr N Redman (Appointed 20 July 2020) Charity number 1171808 Principal address 299 - 305 Whitehorse Road West Croydon Surrey CRO 2HR Independent examiner — - Miriam Hickson FCA : ; 5JacobRobinCavenaghHood Lane& Skeet Sutton Surrey SM1 2SW ## a eee ## THE ROWLAND BROTHERS FOUNDATION ## CONTENTS |i||| |---|---|---| |||.| ||Page|| |Trustees' report|1-2|| |Independent examiner's report|3|| |Statement offinancial activities|4|| |Balance sheet|5|| |Notestothefinancialstatements|6-10|| i THE ROWLAND BROTHERS FOUNDATION TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021 Se The trustees present their annual report and financial statements for the year ended 31 March 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Foundation's constitution, 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)" (effective 1 January 2019). ## Objectives and activities The Foundation's objects are to relieve the mental and physical sickness and the financial hardship of persons resident in the area who are suffering from bereavement by the provision of counselling, financial and other support. The foundation also seeks to assist in the preservation of war memorials and other public monuments in the area commemorating figures of historical importance. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Foundation should undertake. ## Achievements and performance The charity’s income increased in the year as the Trustees took the decision to build up the reserves. The charity's various partners continued to make regular donations to fund the activities of the charity. One of the key objectives of the charity is to provide a bereavement counselling service and this is an area which has continued to thrive in the year under review by moving towards sessions via live webinar. The level of memorial restorations has increased slightly, as planned by the trustees. This is expected to continue over a longer term after the period under review. ## Financial review At 31 March 2021, the Foundation's reserves were in surplus by £60,645 (2020: deficit £1,931) following donations of £140,423 (2020: £31,395) and charitable expenditure of £77,847 (2020: £57,195). It is the policy of the Foundation that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between one and three month’s expenditure. The trustees consider that reserves at this level, coupled with the support of its partners, will ensure that they will be able to continue the Foundation’s current activities without interruption. This level of reserves has been maintained throughout the year. The trustees have acknowledged that the Balance Sheet shows a higher than required unrestricted fund of £60,645, which is due to the receipt of a large, one-off donation of £60,000 on 30 March 2021. ## Structure, governance and management The Foundation is a charitable incorporated organisation. The Foundation is governed by the rules and regulations set down in its Constitution dated 28 February 2017. The trustees who served during the year and up to the date of signature of the financial statements were: Mr S NA Rowland Mr ABA Rowland MBE Mr G Bruce (Resigned 14 August 2020) Mr M Spooner (Appointed 20 July 2020) Mr J Walking (Appointed 20 July 2020) Mr N Redman (Appointed 20 July 2020) Trustees are recruited based on their skills, knowledge and experience needed for the effective administration of the Foundation. Trustees are appointed for a term of three years by a resolution passed at a properly convened meeting. ## ne, 2 x ## THE ROWLAND BROTHERS FOUNDATION ## TRUSTEES' REPORT (CONTINUED) ## FOR THE YEAR ENDED 31 MARCH 2021 eee The trustees have responsibility for setting and monitoring the overall strategic direction of the Foundation, approving decisions and appointing key members of staff. The tkustpes' report was [. d by the Board of Trustees. Mr S NA Rowland ~ 14 January 2022 eaee a a ee ae ‘ _2- ## THE ROWLAND BROTHERS FOUNDATION ## INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ROWLAND BROTHERS FOUNDATION eee |. report to the trustees on my examination of the financial statements of The Rowland Brothers Foundation (the Foundation) for the year ended 31 March 2021. ## Responsibilities and basis of report As the trustees of the Foundation you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). | report in respect of my examination of the Foundation’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. . ## Independent examiner's statement | have completed my examination. | confirm that no matters have come to my attention in connection with the _ examination giving me cause to believe that in any material respect: - 1 accounting records were not kept in respect of the Foundation as required by section 130 of the 2011 Act; or 2 the financial statements do not accord with those records; or 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. | have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. ## Miriam Hickson FCA Jacob Cavenagh & Skeet 5 Robin Hood Lane Sutton ; Surrey SM1 2SW iee -3- ## THE ROWLAND BROTHERS FOUNDATION ## STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021 a **----- Start of picture text -----**
|||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |Unrestricted|Unrestricted| |funds|funds| |2021|2020| |Income|from:|Notes|£|£| |Donations|140,423|31,395| |Expenditure|on:| |Charitable|activities|2|77,847|57,195| |Net|income/(expenditure)|for|the|year/| |Net movement|in|funds|62,576|(25,800)| |Fund|balances|at|1|April|2020|(1,931)|23,869| |Fund|balances|at|31|March|2021|60,645|(1,931)| |The|statement|of financial|activities|includes|all|gains|and|losses|recognised|in|the|year.| **----- End of picture text -----**
All income and expenditure derive from continuing activities. rg oA ## THE ROWLAND BROTHERS FOUNDATION ## BALANCE SHEET ## AS AT 31 MARCH 2021 |AS AT 31AT 3131 MARCH 2021|AS AT 31AT 3131 MARCH 2021|AS AT 31AT 3131 MARCH 2021|AS AT 31AT 3131 MARCH 2021|AS AT 31AT 3131 MARCH 2021|AS AT 31AT 3131 MARCH 2021|AS AT 31AT 3131 MARCH 2021| |---|---|---|---|---|---|---| |oosee||||||| |||||2021||2020| |||Notes|E|£|£|£| |Fixed assets||||||)| |Tangible assets|~|5||1,218||-| |Current assets||||||| |Debtors||6|114||-|| |Cash at bank and|in hand||63,653||767|| ||||63,767||767|| |Creditors: amounts falling due within||||||| |one year
;||7|(4,340)||(2,698)|| |Net current assets/(liabilities)||||59,427||(1,931)| |Total assets less|current liabilities|||60,645||(1,931)| |Income funds||||||| |Unrestricted funds|- general|||60,645||(1,931)| |||||60,645||(1,931)| |The fi
| statements||jwere|approved by the Trustees on 14 January 2022||||| |Mr S
NA
Rowland||||||| |Trustee||||||| eee -5- ## THE ROWLAND BROTHERS FOUNDATION ## NOTES TO THE FINANCIAL STATEMENTS ## FOR THE YEAR ENDED 31 MARCH 2021 ## See 1 Accounting policies Charity information The Rowland Brothers Foundation is a charitable incorporated organisation limited by guarantee and incorporated in England and Wales. The address of its registered office is 299 - 305 Whitehorse Road, West Croydon, Surrey. The Foundation is a public benefit entity. - 1.1 Accounting convention The financial statements have been prepared in accordance with the Foundation's constitution, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” ("FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Foundation is a Public Benefit Entity as defined by FRS 102. The Foundation has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the Foundation. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. 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 Foundation 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. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the Foundation 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. Cash donations are recognised on receipt. Other donations are recognised once the Foundation has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the Foundation has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. ia ~6i , THE ROWLAND BROTHERS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 I 1Accounting policies (Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a . third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount : of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. Expenditure is recognised on an accruals basis when a liability is incurred. Expenditure is inclusive of any VAT which cannot be recovered. Donations payable are accounted for when the charity is committed to paying them. 1.6 Tangible fixed assets . Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: ## Fixtures and fittings 25% straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. - 1.7 Impairment of fixed assets At each reporting end date, the Foundation reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). - 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. - 1.9 Financial instruments The Foundation 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 Foundation's balance sheet when the Foundation 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. ii “= a Ye ## THE ROWLAND BROTHERS FOUNDATION ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 ## eee 1 Accounting policies (Continued) ## 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 Foundation’s contractual obligations expire or are discharged or cancelled. ## 1.10 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 Foundation is demonstrably committedto terminate the employment of an employee or to provide termination benefits. ## 1.11 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ——aeeeeB'kWSSSo——6000—aa_—_00_0—0 w Bn ## THE ROWLAND BROTHERS FOUNDATION ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 ## a nmememememee ce ## 2 Charitable activities |||.||| |---|---|---|---|---| ||||2021|2020| ||||£|£| |Staffcosts
Charitable donations
Other costs|.||67,586
3,547
3,025|40,762
1,900
10,547| ||||74,158|53,209| |Governance costs||||| |Independent examination fee
Legal and professional fees|||1,200
2,489|1,176
2,810| ||||77,847|57,195| ## 3 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits fram the Foundation during the year. ## 4 Employees Number of employees The average monthly number of employees during the year was: |Number of employees
The average monthly number of employeesemployees during|the year was:was:|| |---|---|---| ||2021|2020| ||Number|Number| |Foundation staff|3|2| |Employment costs|2021|2020| ||£|£| |Wages and salaries
Social security costs
Other pension costs|61,745
4,888
953|37,150
3,204
408| ||67,586|40,762| There were no employees whose annual remuneration was £60,000 or more. ## a “A | ## THE ROWLAND BROTHERS FOUNDATION ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 |NOTES TO THETO THETHE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 2021|NOTES TO THETO THETHE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 2021|NOTES TO THETO THETHE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 2021|| |---|---|---|---| |ee|||| |5|Tangible fixed assets||| |||Fixtures|and fittings| ||Cost||£| ||Additions||1,392| ||At 31 March 2021|;|1,392| ||Depreciation and impairment
.||| ||Depreciation charged in the year||174| ||At 31 March 2021|,|174| ||Carrying amount||| ||At 31 March 2021||1,218| |6|Debtors||| |||2021|2020| ||Amounts falling due within one year:|£|£| ||Prepayments and accrued income|114|-| |7|Creditors: amounts falling due within one year||| |||2021|2020| |||£|£| ||Other taxation and social security|1,613|570| ||Trade creditors|403|448| ||Accruals and deferred income|2,324|1,680| |||4,340|2,698| 8 Related party transactions There were no disclosable related party transactions during the year (2020 - none). eee, -10-