2022-03-31-accounts

Charity registration number 1171808

THE ROWLAND BROTHERS FOUNDATION

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

THE ROWLAND BROTHERS FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr S N A Rowland Mr A B A Rowland MBE Mr M Spooner Mr J Walking Mr N Redman Mr C Roe (Appointed 1 April 2022) Charity number 1171808 Principal address 299 - 305 Whitehorse Road West Croydon Surrey CR0 2HR Independent examiner Miriam Hickson FCA Jacob Cavenagh & Skeet 5 Robin Hood Lane Sutton Surrey SM1 2SW

THE ROWLAND BROTHERS FOUNDATION

CONTENTS

	Page
Trustees' report	1 - 2
Independent examiner's report	3
Statement of financial activities	4
Balance sheet	5
Notes to the financial statements	6 - 10

THE ROWLAND BROTHERS FOUNDATION

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2022

The trustees present their annual report and financial statements for the year ended 31 March 2022.

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. Alongside this, the foundation has recently partnered with a number of secondary schools in Croydon and is offering bereavement counselling support to students there. This was initially in response to several well-publicised events in the area affecting pupils of the schools but has become more proactive in helping children deal with bereavement before it occurs.

The Foundation also seeks to assist in the preservation of war memorials and other public monuments in the area commemorating figures of historical importance. This work has reduced over the past 24 months due to the Covid19 pandemic but work is starting to pick up after the financial year.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Foundation should undertake and ensuring these are for the public benefit.

Achievements and performance

The charity’s income decreased in the year as the Trustees took the decision to utilise brought forward reserves rather than request additional funding from partner Companies. Some funding was received but at a much lower level. These were more towards the end of the year once the reserves had depleted.

The bereavement counselling service has continued to thrive with face-to-face meetings returning, but also with a continuation of online one-to-one and group sessions. Memorial restorations decreased during the pandemic and the start of the year was slow but these started to pick up towards the end of the financial year and beyond.

Financial review

At 31 March 2022, the Foundation’s reserves were in surplus by £16,044 (2021: £60,645) following donations of £29,232 (2021: £140,423) and charitable expenditure of £83,833 (2021: £77,847). There was also restricted Lottery funding of £10,000 (2021: £nil), of which £1,425 (2021: £nil) was spent on the ongoing school bereavement counselling project.

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 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.

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 N A Rowland

Mr A B A Rowland MBE Mr M Spooner Mr J Walking Mr N Redman Mr C Roe (Appointed 1 April 2022)

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THE ROWLAND BROTHERS FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Trustees are recruf(ed based on their skills, knowledge and experionr* needed for the effective administration of the Foundation. TnJstee5 are appointed tor a temi of three years by a resolution passed at 8 properfy Convened meeting. The tnjstees havg responsibility for settsng and monitoring the ov8rall strategic direction of the Foundation, approving deusions and appointing key Mem￿[5 of staff. The rep wa approved by the 8oard of Tnjslees. Mr S NA Rowland Dale-. ...

THE ROWLAND BROTHERS FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ROWLAND BROTHERS FOUNDATION I report to the trustee5 on rny examination of the financial sialemenls of The RO￿and Brothers Foundation Ithg Foundaiionl for the y8ar ended 31 Marth 2022. Rèspoftslbllities and basls of report As the trustees of the Foundation you are responsible for the preparation of the financial statements in accordan¢g with the r￿lI1r9[￿ents of the Charities Act 2011 Ithe 2011 Acti. I report in ￿spect of my examination of the Foundation's financial statements carried out undèr section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commi55ion under section 14515llbl of the 2011 Act. Independent oxamin8r'5 Statement I have compleled my examination. I confirm that no rnallers have come to my attention in connection with the examination giving me caLJse to believe that in any material respect.. accounting records wére not kept in respe¢l of the Foundation as reqUI￿d by 8e¢tion 130 of the 2011 Aci., or the financial statements do not accord with those records., or the flnancial statements do not comply with the applicablè requirernents conceming the form and content of accounts sel out in the Charitie5 IAccounts and Report51 Regulations 2008 other than any requirement that the accounts give a tnje and fair view which is not a matter considered as part ol an ind8pgndenl examination. I have no concerns and have come acr05s no other rnatlers Sn eonneclion with the examination to whleh altentlon shoLJld bè drawn in this report in order lo enable a proper understanding of the financial statements to be reached. Mir4am Hickson FCA Jacob Cavenagh & Skeel 5 Robin Hood Lane Sutton Surrey SM1 2SW

THE ROWLAND BROTHERS FOUNDATION

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

Unrestricted Restricted funds funds 2022 2022 Notes £ £ Income from: Donations 29,232 10,000 Expenditure on: Charitable activities 2 82,408 1,425 Net (expenditure)/income for the year/ Net movement in funds (53,176) 8,575 Fund balances at 1 April 2021 60,645 - Fund balances at 31 March 2022 7,469 8,575	Total Unrestricted funds 2022 2021 £ £ 39,232 140,423 83,833 77,847 (44,601) 62,576 60,645 (1,931) 16,044 60,645

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

All income and expenditure derive from continuing activities.

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THE ROVVLAND BROTHERS FOUNDATION BALANCE SHEET AS AT 31 MARCH 2022 2022 2021 Notes Fixgd assets Tangible assets 870 1.218 urront assets D8btors Cash at bank and in hand 114 63.653 115 19.427 19.542 63.787 Credltors: amounts falllng duo withln one year {4,340} 14.3681 15,174 59,427 Net current assets Totsl assots Igys current liabilitie8 16,044 60,645 Income funds Restricted fvnds Unrestricted funds- general 8.575 7h69 60,64S 16,044 60,645 nci ents were approv￿ by the Trustees on Mr A Rowland Trustee

THE ROWLAND BROTHERS FOUNDATION

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

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.

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THE ROWLAND BROTHERS FOUNDATION

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

1 Accounting 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.

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THE ROWLAND BROTHERS FOUNDATION

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

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 committed to 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.

2 Charitable activities

Staff costs Charitable donations Other costs Governance costs Independent examination fee Legal and professional fees	2022 £ 72,597 155 6,538 79,290 1,284 3,259 83,833	2021 £ 67,586 3,547 3,025
		74,158 1,200 2,489
		77,847

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THE ROWLAND BROTHERS FOUNDATION

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

3 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the Foundation during the year.

4 Employees

Number of employees

The average monthly number of employees during the year was:

	2022	2021
	Number	Number
Foundation staff	3	3
Employment costs	2022	2021
	£	£
Wages and salaries	66,180	61,745
Social security costs	5,363	4,888
Other pension costs	1,054	953
	72,597	67,586

There were no employees whose annual remuneration was £60,000 or more.

5 Tangible fixed assets

Tangible fixed assets
	Fixtures and fittings
	£
Cost
At 1 April 2021	1,392
At 31 March 2022	1,392
Depreciation and impairment
At 1 April 2021	174
Depreciation charged in the year	348
At 31 March 2022	522
Carrying amount
At 31 March 2022	870
At 31 March 2021	1,218

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THE ROWLAND BROTHERS FOUNDATION

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

6 Debtors Amounts falling due within one year: Prepayments and accrued income 7 Creditors: amounts falling due within one year Other taxation and social security Trade creditors Accruals and deferred income	2022 £ 115 2022 £ 788 605 2,975 4,368	2021 £ 114
		2021 £ 1,613 403 2,324
		4,340

8 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

	Movement			Movement in funds	Movement in funds
	in funds
	Income	Balance at		Income	Expenditure	Balance at
		1 April 2021				31 March
	£	£		£	£	2022 £
Schools project	-		-	10,000	(1,425)	8,575
The schools project fund relates to a bereavement support project			working with under-18s in schools across
Croydon, both in one-to-one support settings and in		group settings, in the form of weekly bereavement
support 'drop-ins'.
Analysis of net assets between funds
	Unrestricted			Restricted	Total	Unrestricted
		funds		funds		funds
		2022		2022	2022	2021
		£		£	£	£
Fund balances at 31 March 2022 are represented
by:
Tangible assets		870		-	870	1,218
Current assets/(liabilities)		6,599		8,575	15,174	59,427
		7,469		8,575	16,044	60,645

9 Analysis of net assets between funds

10 Related party transactions

There were no disclosable related party transactions during the year (2021 - none).

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THE ROWLAND BROTHERS FOUNDATION

DETAILED INCOME AND EXPENDITURE FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted Restricted 2022 funds £ £ Income from: Grants - 10,000 Individuals 792 - Related companies Rowland Brothers 8,440 - Rowland Brothers International - - A&J Morriss 8,000 - Golden Leaves 12,000 - 28,440 - Total income 29,232 10,000 Expenditure on: Donations DM Gould Wholesale 155 - Good Grief Trust - - An Angel Gained - - Hannah Twist - - Woodside Bereavement Counselling Service - - Brenda Kirby Cancer Centre - - Nicole Favre Memorial - - Mark Nicholson - - The Lily Foundation - - Croydon Youth Zone - - 155 - Staff costs 72,597 - Seminar costs 3,550 1,425 Insurance 93 - Printing & stationery - - Travel & subsistence 33 - Advertising 37 - Subscriptions 512 - Bank charges 231 - Depreciation 348 - Sundry expenses 309 - Independent examination fee 1,284 - Legal and professional fees 3,259 - 82,253 1,425 Total expenditure 82,408 (1,425) Net movement in funds (53,176) 8,575	Total Unrestricted 2022 funds £ £ 10,000 - 792 1,420 8,440 112,003 - 3,000 8,000 12,000 12,000 12,000 28,440 139,003 39,232 140,423 155 - - 150 - 500 - 100 - 600 - 600 - 487 - 260 - 600 - 250 155 3,547 72,597 67,586 4,975 1,381 93 100 - 80 33 48 37 214 512 474 231 176 348 174 309 378 1,284 1,200 3,259 2,489 83,678 74,300 83,833 77,847 (44,601) 62,576	Total 2021 £ - 1,420 112,003 3,000 12,000 12,000
		139,003
		140,423
		- 150 500 100 600 600 487 260 600 250
		3,547 67,586 1,381 100 80 48 214 474 176 174 378 1,200 2,489
		74,300
		77,847
		62,576

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