2021-09-20-accounts - The Rowland Educational Foundation

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Trustees' Annual Report for the period

Period start date Period end date Day Month Year Day Month Year From 21 September 2020 To 20 September 2021

Section A Reference and administration details

Charity name The Rowland Educational Foundation

Other names charity is known by

Registered charity number (if any) 1180826

Charity's principal address Trustee Department 1[st] Floor, Tower Wharf Cheese Lane, Bristol Postcode BS2 0JJ

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Dates acted if not for whole year
Christopher Larlham
Anda Rowland
Josie Rowland	(settlor)
Louisa Shetty
Coutts & Co		To 05/04/2021
Ludlow Trust CompanyLimited		From 06/04/2021

Names of the trustees for the charity, if any, (for example, any custodian trustees)

Name Dates acted if not for whole year

TAR

March 2012

Names and addresses of advisers (Optional information)

Names and addresses of advisers (Optional information)	Names and addresses of advisers (Optional information)	Names and addresses of advisers (Optional information)
Type of adviser Name Address
Investment Managers	Coutts & Co	440 The Strand, London, WC2R 0QS
Bankers	Coutts & Co	440 The Strand, London, WC2R 0QS
Solicitors	TLT LLP	One Redcliff Street, Bristol BS1 6TP
Independent Examiner	Geoffrey Frost, Blue Spire Limited	Cawley Priory, South Pallant, Chichester, West Sussex, PO19 1SY

Name of chief executive or names of senior staff members (Optional information)

Section B Structure, governance and management

Description of the charity’s trusts

Type of governing document

Trust deed dated 20 September 2018

(eg. trust deed, constitution)

How the charity is constituted

Trust

(eg. trust, association, company)

Trustees are appointed the settlor or the survivors of them in their lifetime Trustee selection methods after which time trustees may be appointed by the trustees from time to (eg. appointed by, elected by) time.

Additional governance issues (Optional information)

You may choose to include additional information, where relevant, about:

policies and procedures adopted for the induction and training of trustees;
the charity’s organisational structure and any wider network with which the charity works;
relationship with any related parties;
trustees’ consideration of major risks and the system and procedures to manage them.

Section C Objectives and activities

Summary of the objects of the charity set out in its governing document

The Trustees shall hold the capital and income of the Trust Fund upon trust to apply the income, and all or such part or parts of the capital, at such time or times and in such manner to, or for the benefit of such Charities or such exclusively charitable purposes according to the laws of England and Wales in any part of the world as the Trustees may in their discretion think fit.

TAR

March 2012

In furtherance of the charity’s objects for the public benefit the trustees shall provide grants. In determining the charity’s activities the trustees have had regard to the Charity Commission’s guidance on public benefit.

Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)

Additional details of objectives and activities (Optional information)

You may choose to include further statements, where relevant, about:

policy on grantmaking;
policy programme related investment;
contribution made by volunteers.

TAR

March 2012

Section D Achievements and performance

Summary of the main During the year under review the trustees made two grant payments achievements of the charity amounting to £162,960 as shown in the notes to the accounts. during the year

TAR

March 2012

Section E Financial review

Brief statement of the

charity’s policy on reserves

At the end of the reporting period the charity had free reserves amounting to £31,603 (2020: £40,571).

In addition to the free reserves the charity has cash balances of £451,080 (2020: £522,269) and investments of £9,792,751 within the expendable endowment fund which can be released to support the activities of the charity.

The Trustees pursue a policy of maintaining a free reserve available to be spent in the furtherance of the charity’s objectives, as well as covering future needs, opportunities, contingencies and risks.

Details of any funds materially in deficit

Further financial review details (Optional information)

You may choose to include additional information, where relevant about:

the charity’s principal sources of funds (including any fundraising);
how expenditure has supported the key objectives of the charity;
investment policy and objectives including any ethical investment policy adopted.

Section F Other optional information

Section G Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s)[Alexander Mulroe ] On behalf of Ludlow Trust Company Limited Position (eg Secretary, Chair, etc) Date 06 July 2022

TAR

March 2012

Charity Name		No (if any)
The Rowland Educational Foundation		1180826
Receipts andpayments accounts			CC16a
For the period from Period start date 21 September 2020	To	Period end date 20 September 2021

Section A Receipts and payments

A1 Receipts	Unrestricted funds to the nearest £ - - 127,942 179 - - - - 128,121 - - - 128,121 162,960 48,282 - - 780 - - - - - 212,022 - - - 212,022 (83,901) 74,933 40,571 31,603	Restricted funds to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	Endowment funds to the nearest £ - - - - - - - - - 7,454,155 - 7,454,155 7,454,155 - - 38,337 - - - - - - - 38,337 7,412,074 - 7,412,074 7,450,411 3,744 (74,933) 522,269 451,080	Total funds to the nearest £ - - 127,942 179 - - - - 128,121 7,454,155 - 7,454,155 7,582,276 162,960 48,282 38,337 - 780 - - - - - 250,359 7,412,074 - 7,412,074 7,662,433 (80,157)	Last year to the nearest £
Addition to trust	-				4,900,000
Gift aid received	-				1,225,000
Income from investments	127,942				42,305
Income from bank interest	179				1,502
	-				-
	-				-
	-				-
	-				-
*Sub total*(Gross income for AR)	128,121				6,168,807

A2 Asset and investment sales, (see table).
Sale of investments	-				1,838,685
	-				-
*Sub total*	-				1,838,685
*Total receipts* A3 Payments
					8,007,492

Grants awarded	162,960				77,940
Trust administration	48,282				8,515
Investment management fees	-				10,744
Trust set upfee	-				-
Accountanc fees	780				630
	-				-
	-				-
	-				-
	-				-
	-				-
**Sub total **	212,022				97,829

A4 Asset and investment purchases, (see table)
Investmentpurchases	-				7,634,148
	-
**Sub total **	-				7,634,148
*Total payments* *Net of receipts/(payments)* A5 Transfers between funds A6 Cash funds last year end *Cash funds this year end*
					7,731,977

	(83,901)	-	3,744	(80,157)	275,515
	74,933	-	(74,933)	-	-
	40,571	-	522,269	562,840	287,325
	31,603	-	451,080	482,683	562,840

CCXX R6 accounts (SS)

Section B Statement of assets and liabilities at the end of the period	Section B Statement of assets and liabilities at the end of the period	Section B Statement of assets and liabilities at the end of the period
Categories Signed by one or two trustees on behalf of all the trustees B5 Liabilities B4 Assets retained for the charity’s own use B3 Investment assets B2 Other monetary assets B1 Cash funds	Signature Investment management Independent examiner Details Details Details Investment portfolio Details (agree balances with receipts and payments account(s)) Details Capital account Reserve account Income account *Total cash funds*	Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - 31,603 - 31,603 - OK OK Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - - - Fund to which asset belongs Cost (optional) Endowment - - - - Fund to which asset belongs Cost (optional) - - - - - - - - - Fund to which liability relates Amount due (optional) Endowment 10,077 Unrestricted 780 - - - Print Name Alexander Mulroe On behaf of Ludlow Trust Company Limited	Endowment funds to nearest £
			451,080
			-
			-
			451,080
			OK
			Endowment funds to nearest £
			-
			-
			-
			-
			Current value (optional)
			9,792,751
			-
			-
			-
			Current value (optional)
			-
			-
			-
			-
			-
			-
			-
			-
			-
			When due (optional)






			Date of approval
			06 July 2022

CCXX R7 accounts (SS)

Section C Notes to the Accounts

C1 Nature and purpose of funds (may be Expendable endowment funds are those which are required to be invested to produce income but which may be stated on analysis of funds worksheets) transferred to unrestricted funds at the discretion of the trustees in order that they may be expended in furtherance of the charity's objectives. Unrestricted income funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. C2 Grants to institutions Recipient - 1 payment and England and Wales unless annotated £ The University of Manchester 2 payments 162,960 162,960 C3 Related party transactions No trustee received any remuneration nor reimbiursed any expenses in the year under review. During the period under review Coutts & Co, a trustee of the charity until 5 July 2021, were paid fees for the provision of administration and investment management services amounting to £48,282 and £38,337 respectively as authorised under clause 6.2 of the trust deed in the period of being a trustee.

CCXX R8 accounts (SS)

Independent Examiner's Report to the Trustees of The Rowland Educational Foundation

I report to the charity trustees on my examination of the accounts of the charity for the year ended 20 September 2021 as set out on pages 6 to 8.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records.

I 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 accounts to be reached.

06 July 2022 Geoffrey Frost BSc(Hons) FCA Date Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY