RSM UK FOUNDATION
REPORT AND FINANCIAL STATEMENTS
for the year ended 31 March 2023
Company Registration Number: 11166200 Registered as a Charity in: England and Wales 1179349 Scotland SC048852
RSM UK Foundation TRUSTEES. REPORT for the year ended 31 March 2023 Report of the truslees for Ihe year ended 31 Mah 2023 The Iruslees are pleased lo present their annual port t¢>3elher with the firtanCl statements of the Charity for the year ended 31 March 2023. The Tru5tees' Report also encompasses the Directors. Report as required by c¢Jnpany lav. Refer•nce and admlnlstratlve Inforniat RSM UK Foundation is a regi%tered chty with registered chanty number 1179349 (England and Waksl, SC048852 Iscotkndl. and a company limrted by guarantee irKorporaled in England and WaS under the company number 11166200. R8gisternd and principal office 6th Floor 25 Farringdon Street London EC4A 4A8 Truste•s The folkming individuals have held offKe as trnslees and direetors throughoul the financial year and up to the d*e of svjning these financial ststements.. K Adams D Gwilliam C J Riches N P Sladden J R Taylor J E Welch (Chairl Audltor Saffery Champness Westpoint Peterborough Business Park Lynch W¢)od Peterborough Cambndge5hire PE2 6FZ Solicito Stone King LLP 13 Queen Square Bath BA12HJ Bankers Lloyds TSB Bank Pk 39 Threadneedle Slreet London EC2R 8AU Paye 1
RSM UK Foundation TRUSTEES, REPORT (continued) for the year ended 31 March 2023 Structurei governance and management The members, who are the trustees, are a150 the directors of the Charty. The Charty's governing dUment is in the fom of a Memorandum and Art¢les ofAssctkqlion dated 23 January 2018. The overall Strateg direction of the Charity is (Jetemined by the trustees. The trustees are reswnsible for pLanning an¢J policymaking and. x¢cdingly, all key decisions are referred to and taken by Ihe board of Irustees, which met three times durirvj the financial year. The charity'$ key dls1OnS are agreed in meetings of the board of Iruslees, wrth no fom)al committees being used ¢Juring the pasl year. This wKludes the truste Conse11n9 grant applications for fvnding at every board rneeliThJ. The minimum number of trustees is thfee and the i% no maximum. Trusl*s musl be an LLP mber. consultant or employee of one or more entit$ in the RSM Group. whh is the UK group of cLNnpanies and limited liability partnerships trading as RSM. being RSM UK Hokrfings Limited la private limfted Company registered at Companies House with registration number 059248231 and any company or limrted lblIrtY partnersh in whth rt holds Sha or has any othef fomi ol direct or indirect proprielary interest. Any retiring trustee 15 eligible for reelection for cOrtIve peri(xls not exceeding in wregate nine years from the dale of their original appointrnent. Thereafter a trustee is Inelpible for re-appointment until one year after their reb"rement. Nv4V trustees we subj.ect lo approval by RSM UK Hoklings Limited. Trustees are rUIted frtyrh RSM and, a5 such. are experienced in working wrthin a profe5sNJnal services rim. The Charity ensu that any new trustees are acquainted th the Charity's goveming document as well as being provided with the latest Versi¢ of the Charity Commission's publication 'The Essential Tiustee.. What yw need to kn¢x. what you need lo do, and the OSCR publication 'Guidance and Good Practice fc¥ Charity Trustees,. As well as the fom)al training received by trustees in their exlernal roles at RSM. they are encouraged to familiarise Ihemsefves with the other resources for charty Iruslees provhded by Ihe Chanty Commission. OSCR and olher sources. When it is relevant lo decisions that must be made by the board, all trustees are provided with appropriate brEfings frcKn the Charity's legal advisor5. The board of Iruslees also receNes professional support from RSM'S charities industry grp. The trustees have adopted the Charty Govemance Code and are committed to following its princ4ples as 8n indicator of best practice. A full review of the Charity's applicalKJn of the C¢)de has been undertaken and is kept under review to ensure rts princip$ are being applEd and to identify areas of ongoing focus. The trustees maintain a fonnally appfoved Confl$ of interest policy. They are rnindful that, as charity tnjstees, they have a legal oblHJalion to act in the best interests of the Charity to ensure that the ChariWs affairs a not affecled by prNale interests or by any competing duties of loyalty owed to others. The aim of the pol¢y is lo ensure that where a confl of InteSt or duty of tyalty arises, or Might arise. such srtualions are dealt wrth openly and constructivety and in the best interests of the Charity. Under the policy. all trustees, and any person who carries out functions for the Charity. are required to complete a declaratkjn of intestS fomi on appointment. disclosing details of employment, other Irusleeship5, directorships and roles. and those of their ckjse family members. Trustees and others are required to update their fomi as an¢J when changes crcur and cortfTrmi their declaralh)n up lo date annually. AddilK>nalty, * any meeb'ng al which an agenda rtem is proposed in which a Iruslee has a potential conflct. that ¢ct is decL¥ed and recorded at the start of the meeting. Page 2
RSM UK Foundation TRUSTEES, REPORT (continued) for the year ended 31 March 2023 Structure, governance and management (continued) The conflicts of interest polry prowdes a clear procedure for managing any cOnfit arising. including withdrawal of the trustee frcffl the meeting for the relevant rtem. not being COLtnted in the quorum for that part of the meetsng and the trustee concemed hawng no vote on the matter and remaining absent during the vole. As a Charitab corry>any limrted by guarantee, every member undertakes lo contribute a Sum not exceeiling £1 to contribute lo the assets of the Charity in the event of it being wound up while they are a member or within one year after they cease lo be a member. Our objqctlves and athltles The objeclNes of the Charity are. for the benefit of the public. to advance such exdusively charitable purposes in any part of the worfd as the trustees may decide frcxn time to li. The trustees have an approved grant Tnaking poly for the Charty. whth fccusses on five charitable organisalions being Anthony Nolan. The Duke ol Edinbufgh's Award. European Disabled Go Association {EDGAI, Leadership Through Sport and Business and The Wcrf)dland Trust Ilogether. the 'core charilies'l. The Charty wll aL80 make grants lo other organisalKJns which are not clients of the RSM Group as well as to those which are. During the financial year grants were made lo N¥enly tsvo 12022.. nine) registered charities in addition to the core charities. The Irustees have the disuetion lo make grants without Influen from the RSM Group (save that the trustees will adhere to any reasonable condf(ions on funding received from the RSM GrP). Although the trustees will not normally support grants towards individuals. they may do so in exCepth81 circumstances and at their sole dL%cretion. The grant making polty is regulaty reviewed lo efisU th the Charity's objectTves are met and in line wth the Charity Commission's guidance on public benefrt. The le$t review was ¢on¢luded on 2 February 2023. The revw undertaken during Ihe yeaf nf1mled future mulli-year partnerships f Anthony Nolan and EDGA. As part of the review. a new partnership was agreed wilh The Woodland Trust, replacing Trees for Cities as a core charity from 1 January 2023. Last yearfs revmv had already agreed mutti-year partnerships with The Duke of Edinburgh's Award and Leadership Through Sport and Business. The LHlest review conclude5 the trustees, considerdtson of the core charit$ until the nexl review in 2025. although all in¢Jividual partneiships will be monitored •Jainsl agreed crrteria annually in the intervening penod. The grant making policy is available from the Charity's website al ur(irnately. the trustees are keen lo support activities that advance the Charty's objects in an effectNe way yel recognise that a limrted affUnt of fund5 ts awwlab to dIstrUle eh year. Achievements and perforniance The Charty not employ any staff during the year. because its aims.were achieved through grant making. The only volunleefs of the Charty were the trustee$ provided oversight ol grant making including liaising wrth the core charrtie5. During the year the core charities benefited from funding of £616.25712022. £478.718). During the year ended 31 March 2023. the Charty made donations of £248.527 {2022.. £239,178110 Anthony Nolan. These donK>ns funded M key areas for the charity. 1.176 trps for the transplant COLtrier programme and 395 grants to families affected by stem cell transplants. a lrfeline for marry Patients who have been impa¢*d by the recent cost of INing challenges. Page 3
RSM UK Foundation
TRUSTEES, REPORT (continued)
for the year ended 31 March 2023
Achlev8monts and performance (contlnuedl
Last year our partnership with The Duke of Edinburgh's Awafd {OoEI helped 10,244 young peopl&
across the UK to stsrt their DolE joumey. In addrtion. by ¢ontributing to the DofE's resi11e fund, the
RSM Foundation has reduced the barriers for a further 3.672 of the most marginalised young people,
to get Ihe opportunty ol the lrfe
RSM UK Foundation TRUSTEES, REPORT (continued) for the year ended 31 March 2023 Flnanclal rovlew Icontinuedl The Charity has a simpk structure arKI uncomplted actNi1. Its reserves are primarity held to.. prowde funding to beneficiaries including inter alia for unforeseen emergeney. e.g. funding that may be required for an urgent need". meet planned operatK)nal costs," and reflect the minimal nsk of an unpnrd dosure asscrtiated with the Charity's business mcmjel. Peri(yJi¢ally the Charity also mainlains a desnate<l fijnd lo provle match funding to other charf(ie$ folbwing fundraising actNities undertaken by employees of RSM. Given these requirements the trustees conshler the target for UnreStiled reserves. after any designations. shoukl be approximately £25,000. At 31 March 2023 the Charty had reserves of £170,459 {2022." £72,434). Reserves at 31 March 2023 exceeded the tsrget lor unrestricted reserves by virtue of a short4emi timing dIfferer between receNing funding from RSM and Gift Aid receivable bef(? the distribution of Ih05e funds lo the Charity's benefKiaries. Having taken account of any future committed expenditure. the Charty was in line with rts target for unrestricted ServeS for most of the year to 31 March 2023. The reserves policy of the Charty is VIeWed annually by the trustees and was originally ¢JeveloFed by Ihe trustees having due ard lo CC19 Charity reseNes: building resilience published on 1 January 2016 by Charty Commission for England and Wales. Investmenlpolicy With minimal levels of funds availab for investment, the potential for worthwhile investment retums continued lo be unlikety lo be coslffeclive wthoul taking undue risks such as loss of capital or market value vol*ility. Therefore, the Iruslees have detemiine<J that any Surplus funds should be placed in inleiest b¢arw cash dep)srts with Ihe Charity's bankers. This arrangement is also deemed lo be the best basis for managing liquidrty risk. Counterparty risk 15 also minimised by usin9 the Charty's bankers who are one of the United Kingdom'5 feccgni5ed leading financial institLth"ons. Risk The trustees use a risk register to identfy key ri5k5 that might impxt on the Charity and to ensu steps are taken to mrtigate those risks. The key risks identified during the year were potential conflicts of interest, dependency on Iimrted income sources and reputatson. The Iruslees constiler that appropriate arrangements are in place lo mitigate these key risks as recorded ort the register. Funds hold as custodian Irustee on behalf of others During the year nerther the Charty, nor its trustees. acted as cusl¢)dian trustees on behaw of olher charities. Plans for future period$ On 1 April 2023 the trustees launched a new kjcal charity iniéialwe.. RSM Together. The inf(ialive is desvjned lo encourage RSM UK partners and staff to undertake gioup fundraising endeavours for local communrties and gwe back locally. Each RSM UK office 15 raisin9 funds for a local charity ol their choice, and in return. the RSM UK Foundation will provKle funding of £100,000 splrt bets¥een the RSM offices. The offices that raise the most money will re the large$l proportion of the £100,cKXJ funding pol. The trustees a Wing to raise a total of £250.C#JO for local Charit in the next financial year. Page 5
RSM UK Foundation TRUSTEES, REPORT (continued) for the year ended 31 March 2023 Trustees. responsibilities in velation to the financial statements The trustee5 (who are a150 directOT5 of RSM UK FoUndatn for the purposes of company18wI a responsible for prepafing the Trustees, Report and the finaneol staternents in accordance with applicable law and Unrted Kingdom AccountiThJ Standards (Unrted Kingdom Generalty Aecepled Accounting Practice). Company law requires the trustees lo prepare financial ststements for each financial year which gNe true and fair view of the s&e of affairs of the charrtable company and of rts incoming $oUr¢e$ and application of resources. includin9 ltte irthme and expendrture, of the charitable company for that year. In preparing these financial sLwrtenls. the trusttts a requirèj to". select suitable aceounling p)le$ and then appty them consistently." observe the melhcJ5 and principles in the Charities Statement of Recorrmended Practice ISORPI.. make reasonabk and prudent judgements arKI estimates., 5Le whether applicable UK Accounting Standards have been followed. subject lo any material departures disckjsed and explained in the financial statemen15", and prepare the financial slalements on the going concern basis unless rt ts inapproprk?le to presume that the charitable company will continue in business. The trustees are responsible for keeping Pfoper accourrting records thal disclose with reasonable accuracy at any time the finanryal position of the charitabk company and enable them to ensure that the financial statements compty wth the Crynpanw Act 2006. the Charities and TrLtstee Investment (stIand) Act 2005 and the Charities Accounts IS¢otland) Regulations 2006. They are also responsible for safeguarding the assets of the charitable wroany. This requires taking reasonable steps lo prevent and detect fraud and other irregularities. In so far as the trustees are aware". there is no revant au¢Jrt infom7at of whth the Charitab Ccthpany's audilor is unaware., and the Ifustees have tsken all steps lfial they ought lo have taken lo make themselves aware of any rean1 audit information and to establish that the auditor is aware of that infomialion. The Iruslees are responsible for the maintenance and integrity of the corporate and financial informatHJn included on the charitable ccthpany's websrte_ Legislalion in the United Kin9dorn governing the preparation and disseminalion of finanoal slalemenls may differ from legislation in olhei jurisdictions. Audilor The audrtor, Saffery Champness. Chartered AUntants. has indthed ils willingness lo continue in offKe. By order of the P*)ard of trustees J R Taylor 31 August 2023 Page 6
RSM UK Foundation INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF RSM UK FOUNDATION for the year ended 31 March 2023 Opinion We have audited the financial statements of RSM UK Founda1]c for the year ended 31 March 2023 which comprise the Slalement of Finanual A¢t]vrtw, Statement of Finan¢Kal Position and notes to the financial stalemenls, including signffjnt a¢UntIng policies. The fInaval reporting framework that has been applied in thw'r preparation is applicable law and Unrted Kingdom Accounting Standards, including Finan¢KI1 ReportTrng Stsndard 102. the Financial Reporting Standard applicable in the UK and Republ of IretaThJ IUn(ied KIngdn Generalty k¢epted Aounn9 PractKe). In our opinion the financial StalwnIS'. give a true and fair Mew of the Chantab comparry's state of affairs as at 31 Mareh 2023 and of its ineorning resources and appIatiOn of resou$. including ts income and expenditure, for the year then ended.. have been properly preped in accordance wrth Unrted Kingdom Generalty Accepted Accounting Practice." and have been prepared in aeeordarte wth the requirements ofthe Crmpanes Act 20C6, the Charities and Trustee Investment IS¢otlandl Act 2c5 and regulation 8 of the Charilies Accounts IScollarKII Regulabons 2006 {as nded). Basis for opinion We nducted our audit in accordance with Intemalional Standards on Auditing {UK) IISAS (UK)) and applicable law. Our responsibili(ies under those standards a further described in Ihe Au¢JiloIs responsibilitie5 for the audit of the financial ststerrents section of our rep)rt. We are independent of the charitable company in accordance wtth the ethtal requirements that are relevant to our audit of the finarKial stateffnls in the UK. induding the FRC'S Eth1 Standard. and we have fulfilled our othef ethical responsibilitS in accordance with these requirements. We believe that the audrt evidence have obtained is sufficient arKI approprte to provKle a basis ft)r tsjr opinion. Conclusions relating to 90ing concem In auditing the financial statements. have concluded that the trustees. vse of the going concem basis of accounting in the Preparat of the financkal Statements is appropriate. Based on the work we have perfomied. we have not Kdenlrf any material uncertainties relating to events or eonditions that. indivtdualty or collecb"vety, may cast significant doubt on the charitable Company's ability to conlinue as a going concem for a period of at least tsvelve months from when the financial statements are aulhorised for kssue. Our responsibilrties and the responsibililies of the trustees wrth resp1 lo gThj concern are described in the relevant sections of this report. Other infonnation The trustees are responsible for the other inforntn. The other information comprises the information included in the annual report. other than the firtanckal statements and our audrtorfs report Ihereon. Our opinion on the financial slemenls does not cover the other inf0matn and, except lo the extent otheise explicitty stated in our rewrt, we do not express any form of assurance n¢lusion thereon. Page 7
RSM UK Foundation INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF RSM UK FOUNDATION (continued) for the year ended 31 March 2023 Other inforniation lcontinuedl Our responsibilty is lo read Ihe other inf0m1atn and. in doing so, eonsider whether the other infom)alKJn is Material inconsistent wrth the financ1 $teentS or our knowledge obtained in the course of the audrt or otherwise appears to be rrFalerialty misstaied. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise lo a material rni$slatement in the finaftcial slalements themsefves. If, based on the work we have perfomed, we conclu¢Je thal there ts a material misslateryEnl d this other informatson we are required lo report that fact. We have nothing to report in this regafd. Other matters prescflbed by the Companies Acl 2006 In our opini, based on the work undertaken in the course of the audit.. the inforrnalK)n gNen in the Trustees. Annual Report for the financi81 year for which the financial ststemenls are prepared is consistent with the financk41 slements." and the Tru$lees' Annual Report has been Prepa in ac¢ordan¢e wrth applicable legal requirements. Matters on which we are requi1 to report by exception In the light of the knowledge and understanding of the charrtabie company al its environent obtained in the course of the audrt, we have not identified malerial mi5Stalements in Ihe Trustees, Annual Report. We have nothing to report in respect of the following matters bthere the Companies Act 2006 and the Charities Accounts IScotland} Regulats"on$ 20C61as amended) require us to report to you if. in QUT opinn.. adequate accounting records have not been kept. C retums quale for our audit have not been received from branches not visited by us.. or the financial statements are not in ajreement with the accounting records and retums,. ertain discbsures of Iruslees, remunerath?n speciW by W are not made.. or we have not received all the informat*?n and eXPlanatnS we reqUe for our audit. Responsibilities of trustees As explained more fully in the Truslee5' Responsibilities Statement set o(rt on page 6, the trustees Iwho are also director5 of the charitable company for the purposes of company lawl are responsible for the preparation of the finanaal slalernents and for being satisfied that they grve a true and fair view. and for such internal control as the trustees detemiine is necessary lo enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the finala1 sl4ements. the tntstees are responsib ts assessin9 the Charitab mpany's ability to continue as a going concern, disclosing, as appIable, matters related lo going concefn and using the going concem basis of accounting unless the Iruslees either intend to liqui¢Jate the charitable company or lo cease operations, or have no ?1$t awernative to do so. Page 8
RSM UK Foundation
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF RSM UK
FOUNDATION (continued)
for the year ended 31 March 2023
Auditorfs responsibilities for the audit of the financial statements
We have been appointed as auditors under the Companies Ad 20C6 and under the Charities and
TnJslee Investment Iseollandl Act 25 and report in xcordance with regulatK)ns made under those
Acts.
Our objectives are lo obtain reasonable assuranee about whelher Ihe financial statemenls as a whole
are free fr¢m material misslatemenl, whether due lo fraud or error. and to issue an auditor's report
that includes our opini¢)n. Reasonab assuranee is a high level of assurance but is not a gLarantee
that an audrt conducted in accordance wth ISAS IUKI w15 ahvays delt a material mL8statemenl
when rt exn8ts. Misststements can afise frcrfn fraud or error and are considered malerkal sf, indimdually
or in the aggregate. they coukl reasonabty be expect&J to inflUere the economic decisions of users
taken on the basis of these financ1 slalements.
Ifregularities. including fraud. are instances of non
RSM UK Foundation INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF RSM UK FOUNDATION (continued) for the year ended 31 March 2023 Auditorf$ responsibilllles for the audit of the financial Statements Iwntinued) re are inherent limitations in the ajit prccedufes descritd above and the further removed non- compliance with Iws and regulat)n$ is frLm the events and Iransacts'ons reflected in the f¢nancial slalements. the less likefy we woukl become aware of it. Also. Ihe risk of not detecting a material misslalemenl due to fraud is hKJher than the risk of not detectiThJ one resulting frorn error, as fraud may invofve deliberate concealment by. for examp. forgery or intents.onal Mlsrepresenln$, ¢y through collusion. A further description of our resKK)nsibiltties is available on the Financial Reporting Counal's websf(e at.. Mvw.frc.or .uklaudito(sres nsibilrties This description forn part of our auditorfs report. Use of our report This report is made solety to the Charitab company S membèrs. as a bthly, in accordance with Chapter 3 of Part 16 of the Companies Act 2c, and to the chantable company'5 Iruslees as a b¢)dy. in aceordanee with Regulation 10 of the Charsties Accounts {Seolland} Regulations 2006. Our audit work has been undertaken so that we mNJhl state lo the Charrtab company's member5 and trustees those matters we are required to slate to them in an aud1tor's rerM)rt and for no other purpose. To the fullest extent pemiitted by law. we do not accept cx assume reskxjnsibilrty lo anyone other than the Charitable company, the eharrtable c¢npany's members and trustees as a body, for our audit work, for this report, ty for the opinions we have fomed. Simon Hall (Senior Statutory ALKlrtorl for and on behalf of Saffery Champness Chartered Accountants StatLrtory Audrtors Westpoinl Petefborough Business Park Lynch Wood Pelerborough Cambrtyeshire PE2 6FZ Dale 31 August 2023 Saffery Champness is digIb lo act as an aLKlitor in terms of secb.on 1212 of the cpanieS Act 20t%. Page 10
RSM UK Foundation STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2023 2023 Total Unrestricted funds 2022 Total Unreslncled funds Note Income Donations 842.504 398.046 Total incorne 842,504 398.046 Expenditur• Donations to charity Bank charges Audit fee 1734,9681 1287) (9,224) {724.4651 11051 18.7301 Total expenditure 1744,4791 1733,3001 Net in¢omelloxp¢ndilure) and nel movement in funds for the year 98,025 1335,254) Reconciliation of funds Total lunds broughl forward 72.434 407,688 Total funds carried forward 170.459 72.434 The statemenl of financial activities includes all gains and losses reccgnised in the year. The notes on e$ 13 to 16 form rt of these financial statements Page11
RSM UK Foundation STATEMENT OF FINANCIAL POSITION as at 31 March 2023 Company Registration Number.. 11166200 2023 2022 Note Current assets Oebtors Cash at bank 146.956 24,457 75,000 112.576 Current liabilities Creditors (954) 1115,1421 Net assets 170,459 72.434 The funds of the Charity Unrestricted incon* lunds 170.459 72.434 Total Charity funds 170,459 72.434 The fjnancial stslemenls on page$ 11 to 16 were wroved by the trustee$ and authorised ks$ue on 31 August 2023 and signed on ts behall by. J R Taylor On behalf of the Iruslees The notes on es 13to 16fomi rt of these financial stslemenls Page 12
RSM UK Foundation ACCOUNTING POLICIES for the year ended 31 March 2023 General inforniation RSM UK Foundation I'the Charity'l is a prNale company IKnited by guarantee. ineorporaled in England and Wales and is a public benefrt entty. The registered offtt address of the Charty is 6th Flcmy. 25 FalrJd0n Street. London. EC4A 4A8. The prineipal actwity of the Charty is disc105ed in the Trustees. Rewt. Basis of ac¢ountlng These financial statements have been prepared in ¥cordan¢e th Accountsng and Reporting by Charities.. Statement of RQmMended PraclKe applrable to charrties preparing their aountS in accordance with FRS 102"The Financial Reporting Standard appIlble in the UK and Republic of Irelan¢J' I'FRS 102.1. the Charits SORP FRS 102. the requirements of the Companies Act 2006. the Charities and Trustee InvestnI (Scotlandl kt 2005, the Chanlies AntS (Scollandl Regulations 2006 and under the hiStOral cost convention. The financial slalements are prepared in slerh"ng. which is the functional cuffency of the Charrty. Monelwy amounts in these finanehil stslements are rcmjnded to the nearest pourKI sierting. Reduced disclosu In accordance with FRS 102. the Charty has taken advantage of Ihe exempt)ns frfm) the following disclosure requirement.. Section 7 'Slatement of Cash Fkws'_ Presentation of a Statement of Cash Flryws and related rK)te5 and disclosures Consolidatlon The financial stateEnts of the Charity are consolidaled in the financial slatements of RSM UK Holdings Limited. The consolidated financral statemenls are available from the registered office. 6 FlcKJr. 25 Farringdon Street. London. EC4A 4AB. Golng concern The trustees have reviewed Ihe Charity's financral bu¢Jget in detail and are of the winion that there are no matefial uncertainties. The ongoing impad of the coronavirus pandemi¢, and the governrnenl advice provided, continues to be monitored by Ihe Irustees to ensure delNery Is maintsined during these uncertain limes and the Charty has adequate resour¢e$ to continue as a going Conrn for the foreseeable future. Accordingly. the financial slalemenls have been prepared on a going concem basis. In addition. RSM UK Holdings Limited, the ultimate parent undertaking at 31 March 2023, has commrtted lo provide ¢)ngoing financwl support. Financial iftstruments The Charity has elected to appty the prows15 of Secth)n 11 'BasK Financial Instruments, of FRS 102 to all of its financial instruments. The Charity only has basic financol assets and financial liabilities and does Th)t enter into financing Iransaclions. They are measured initially al tranSactn prti and subsequentty at amortised cost, being transaction pe less amounts settled any impaimwil l¢)sses. Critical accounting estimates and areas of judgement Estimates and judgements are conlinualty evaluated and are based on historical experience and other faetors, including expectatsons of future events that are believed to be reasonable under the circumstances. The twstees do not consider that there are any key areas of judgement or crilul accounting estsmales. Page 13
RSM UK Foundation ACCOUNTING POLICIES (continued) for the year ended 31 March 2023 Donation Income General donations, donations from fundraising evenls. corporate and phiianlhropy income and direct marketing income are fecognised in full in the Slalement of Financial Activibes when entitled, receipt is probable and when the amount Can be quantrfied wrth reasonaty xcuracy Income received in advance is deferred where appropriate. Gift AKI is recogntsed on an ralS basis being the date when the osswaled donation is receivable. Expenditure ExperKIi(ure i8 reeognised ¢X an aceruals basis. Donatn$ made are payments lo third part*s in the furtheran of the obieclNes of the charity. DonalN)ns are eommitted on an adthee basis and are not subject to performanee revie•VS. Value Added Tax is included within expenditu where it is not recoverable. Liabilities aR recognised when there ts a legal or constructive oblat commiitiNJ Ihe charity lo the expendi(ure. Funds Unrestncted funds All funds are unre51ricted and are available to the Charty to further any of ts charitable ObCtIves. Taxation As a registered charity. the Foundation benefrts from lax exempl$ available lo registered charities. Consequenlty. il is not liable for income tax or corporatK)n tsx on income derived from ils charitable a1Ville$. Page 14
RSM UK Foundation NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023 Income from donations and legacies 2023 2022 Donations (CludIng Gift Aid receivablè) Donations in kind 833.280 9.224 389,316 8.730 842,504. 398,046 Audrtor's rernuneration is paKI by the ullimate corrtrolling paty. RSM UK Holdings Limited. The element of this fee relaling to RSM UK Foundation is in the charty financial statements as a donation in kind and a cost. Key management personnel There were no ernpknyees of the Charty during the year {2022". £nif). The key managerrenl personnel of the Charity comprise the trustees, who did not receNe any emluments or reimbursed expenses from the Charty during the year12022" £ntl) Anatysis of donatlons to Charilies 2023 2022 Cotv charities." The Duke ol Edinburgh's Award Anthony Nolan EDGA Leadehip Through Sport & Business Trees for Cities 270,000 248,527 45,302 36,928 15,500 616.257 204,540 239.178 20,000 15,000 478,718 UNICEF EDGA Matched funds Ilo 6812022. 52) registered charities) Other (to 2212022.. 81 registered ¢harth'8s1 Vdunteenng a¢livty ¢Jonations 51.251 169.063 45,830 15,749 15,105 33,145 32,135 2,180 734.968 724,465 Debtors 2023 2022 Other debtors 146,956 75,000 146.956 75,DOO Page 15
RSM UK Foundation NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 March 2023 Creditors 2023 2022 Aecruals 954 115.142 954 115,142 Aral$ represent arwunls ccwnmitled for donalKJns during the perK¥J that as of ihe reporting date are yet to be paKI. Related party transaction$ The related parties comprise of the parenl company and other c(MrTh)n ownershy ccrfnpantes. Transactiws beeen the Charity and its related parties are discbsed belc. 2023 2022 Amounts transferred from RSM UK Group LLP Donation in kind from RSM UK Hoklings Limited- to pay auditor fee 675.298 9.224 348,303 8.730 684.522 357,033 As at 31 March 2023 £nil is outstanding on rekled party b8knees12022". £nill. Ultlmate paRnt company RSM UK Holdings Limited, whh is registered in England and Wales. was the ultimate. controlling party, unlil 3 April 2023. See pages 2 to 3 for further detsils on structure and govemance. For 31 Maich 2023 the largest and smallest group in which the resurts of the company are consolidated is that headed by RSM UK Hohdings Limited. On 3 April 2023 Arrandco Group Limi(ed became the uttimale eonlfolliffj party, being the urtimale and immediate parent company of RSM UK Holdings Limi(ed. Arrandco Group Linited is ineorp)rnted in England and Vlales. Page 16