Charlty rog18￿￿•Th numb¢r1192886
THE ROSELINE FOUNDATION
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

THE ROSELINE FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Mr P J Cronin
Mrs AJ Cronin
Mr Michael Moran
G M Purvis
Susanng K8nngJy
Mr Mi¢hag1 Cronin
Mr Robert Cronin
Mr James CronSn
Sophie Cionin
harfty numb•r
1192886
Regl•teretl ¥)ffiG•
F8mworKI Hou88
F8mwood Road
Jesmond
Newcasle upon Tyne
United ￿ngdoM
1TJ
Audlt•r
Mitthells Grfevson Ltd
3 Kensington House
Bishop AuckL4nd
Co Duham
DL14 6HX
BankersAnv••lment manao•r*
Bardèys Bank pk
1 Churthill Place
Canary Wharf
E14 5HP

THE ROSELINE FOUNDATION
CONTENTS
Pag•
TnJstees' report
stptsmgnl of trustge$' responsbilitKgS
Ind•perKtgnl auditorfs rep¢xt
ststement offinanryal aCti￿ts5
Balance sheét
Strter￿t ofcash lknys
10
Notes to th8 financial ststements
11- 19

THE ROSELINE FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The trustoas pr8sanl their annual reportand Iln8nclal ststements lor1he ￿ar ondad 31 D¢¢*mbor 2023.
Th? firArrial slaternents hav• boarh pr8par£d in accc¥dancg bmth thg a¢￿untIng p￿1￿0& S&t out In nots 1 to th
finanaal statèm•nt$ and wrnply wilh the charity's govetning document, tha Charfb'8sA¢t 2011 and"Accounb"ng and
Reporting by Charitres.. Statement ol Recommended PraCh￿ applICa￿tt to tharitie5 preparing their accounts in
accordan￿ wiu) lh• Financial R8POrting Standwd applicable in the UK and ROpU￿1¢ ol Iral8nd IFRS 1021"
18lfactiVo 1 January 20191.
Obj8Ctiv8s and actlvltl
The objects of the chaty are to advance such charitaN¢ pu￿0$e$ lac£ording to thè law of England and Walesl fc
the publr bon•fft ni the North East of EngLHnd and els8wh8r8, by providing grants, to r8gl$tered charftles andlc
Othgr Organ￿al.0n$.
trustee$ have paid thJ# regard to guid?th￿ i5suBd by the Charity Commi$5ion in dedding what a¢tivlti8s th8
charity shoukj undertake.
Introduclk>n to a¢tlvlti•¥
Tris 15 th9 third Feriod ol oporation ol the tharity following our establlshmgnl as a CIO in December 2020. T
amb￿"on ol thè Charity 1$ to establish rts•W as a grant g￿ing charity will support othor charili86 in thgir work
overthe longertemi.
The investrnent markets SaIl￿d d¢Mn somevthat during 2023 and the trustee$ made the daasion to move £77m out
of elsh and into 8 mi%ed of investmants managed by prof6ssional investrThent rnanagers, Bardays Waallh and UBS.
continued to olfer grant support to mainly local charities in the Sundedand Area and have spant the year
buikling a relationship with many charitai48 Cryanisa￿"ons. visits.ng th8 chariti8S to 890 tholr work and what Support
¢ould offsr Ihem.
We continugd our suppc¥t to Several charil.es Ihat w8 have supported prevlously as wal a$ $upporting $ome
chartiès for the first time. Donalksns and grants paid out included various grants to the Greggs Foundation to
support breakfast clubs for thild￿n in depriv8d ar8a$ surrounding Sundertand. and other 9r2nts to Lovè Arnelk8.
Bryht Fu￿re$ NE, the Sundedand Wtogelher Consorts'um. Sundemand HeadlwJht, Community and Neighbouriv
CaTe for Everyone, SundertaThl Mind. Washington Mind to name but a few. a150 made a donation to th8
Disastsrs Em9rggn¢y Commrtted fofthèirTurkey Earthquak¢ App￿1..
also paid an •jd*￿nal £200,000 to Th• Found8tion of Light, the third Inst8lm8nt of our four year ￿ndIng
reetn8ntwith thgm.
Gr•nt maklno p4ll¢y
Thg Foundation accepts ap￿Ir￿￿On$ from organisations workin9 in the a￿aS of WeFfare. Youth, Community. Arts,
Faith. EnvironmenL Education, Health and Museurn5 & Herilag9.
marily fr£us our grants on organisations who are basgd or op8rat8 in Sunderfand and Ihe surrounding Norfh
East of England, although grants fvDm ej50W￿re ar8 occasionally mado.
support UK registered Chariti'ès, régistered edsjcats.onal and rnlvJipu$ ch8rities that are ex8mPt under the Chanty
Commissbn Guiddines museums and gallertes.
U•0 of voknitstY8
The Charity has no staff and is wholly operated by 9 trust88s voluntser their timo to h8lp 8¥sg$B and monthr
grant giving.

THE ROSELINE FOUNDATION
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Achlovem•nt8 and pgrfomian¢g
Flnanclal revlew
Inwme from our *iNestsnents induding bank depo#tb increased from £1,097,2￿ to £1,605,897 as we benefthd
from hbyher iTht8r85t rates and th8 inveslment incomo frcrfn our portfotios with Ba￿lay$ ￿aNh an(1 UBS.
Investment managemefit lees amounted tts £253k and we paNJ out grBnt5 of £737k. Other than the payment for our
audit fee and on8 Other small cost we ha(1 no txhgr opgraling costs, with trusto0s gmng the¢r ts.mg fr¢ety to mana9•
the charity. Thè Invastrnants wo made incTr8sgd by £7.8m 88 th? market recovered. Overall we rDade a surrAus ol
£8.4rn for the yw.
Ro#•rvas poIIcy
The Cfonty one off donation$ of £88.3m sfter ts fr¢rmation. The trustees de¢ided to invest the donab.ons
tgc8ived to produce an annual Income to allow the tharjty to pay out grants mainty in 1he Sunr18rtaThJ and
surrounding area. However there ￿ no poliw to ietain the ¢ore capital arising from thè donab"ons, larger
donatlons ￿11 b8 m* on a casa by ea$9 bg9i¥. The reserye$ polscy is to rtain enough fvnds to enabl8 tr￿ charity
to mak¢ donations for at least the ne￿ 10 years.
Our invesbnent polcy is to inv8St our fvnd$ in a mvKed portfol￿ of equrties and intsrest inv6stsn8nts,
onsurir5g thatthg invostmonts are made in an elhical way. Our inv88knsnts are profes&on￿lY mantyed by Bardays
Vveatth and UBS who reguiarfy adw$e the twslees on their invèstment strategy.
Pl*M for fulurn pgrlods
Our plans for 2024 include increasing the nuTTth>or of donations that w pay out to charit￿9 in the Sunderfand araa.
W& haw been eyploring with gth¢r charibes and Sunderland University ways ol increasing a¢h￿vement in local
schc¢)J8 and in 2024 we have fun¢Jad a pmje(X to ewore supporting edutAtion fijrther.
Wo have so lar been ablg to ramp up our grants and commthènts in 2024 to in exrhss of £4 millioTh.
Historically Sunderl8nd and Surrounding araas ha￿ had a lower number of active char￿"&$ Ihan parts of th8
country, and so som8 gf our grant furrfliNJ will be usad to oxpand th¢ work ol cb8rft48s in Sundertand and
surrounding areas.
Structuret gover￿n¢¥ and man•gement
Thè charty 1$ a tharitable Inc0￿DIated o(ganisation {CIOI, forned by the adopts.on of rts tonstthb)n on 21
December 2020.
The trustsé$ who $¢ryed duri￿ the y8ar and up to Ihg date ofsignabjre ofthe financrdl statements were..
Mr P J Cronin
Mrs AJ Cronin
Mr Mithaol Moran
G M Purvis
Susanne Kenn8dy
Mr Mithael Cronin
Mr Robèrt Cronin
Mr Jamès Cronin
Sophie Cron
The lowding tru51ee5 all appointed on iwxirporalion of the charity a5 8 CIO on 21 tlecember 2020. All thè
founding trustess were pypointed for fixed initial t8rms to Staggeithe dat•S Df thèir rètirement.
New trustees arn 0￿cted by rewlution at a meeln9 01 Ihe tsust888 for a perioj ofthree years.
In 8gbrAiTrJ iThJividuals for &PPDintrn&nt 88 charity trustees. the d)awity tDJ5tees have regard to t￿ $kills. KTh)hvled90
a*)d eyF•ri8nce n88d8d for th• effectivo adrnlni$tration of the CIO.

THE ROSELINE FOUNDATION
TRUSTEES. REPORT (CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2023
The chanty ha$ a $lrnplg $tsu¢bJr8 wilh a chaKrnan dectgd by th• board of truste88. Thom am no staff employed by
the chanty.
Do¢i$ions ol tho trustsos arg mad9 at trusts8 m88tirrtJ5 which ar¥ h•￿j onf* a quart8r. Deusion5 are made by
maiority vote.
Sfjnc8 the ¢harty was lnctYpora￿ thèro have not been any new trustgas appointed. Howgver the pohcy w• have
have is that new twstees are prowded with a brief history of the Foundab"on, a ct¥)y of thg ￿nStitUtul0n, copy
minutas. r8POrt an¢J accounts for the previous triree years tO9&th?r with a copy of th8 Charity Ccmmk%slon's Th
Es$6niial Tru$t8&'. Vvhatyou Need to Know.
None ollhe trustees receive reffluneration and we have no stsff.
Th8 Iruste8s' r8POrtYrfa5 approved by th8 Board ofTru5t885.
Mr Mithael MoTan
29 Odober2024

THE ROSELINE FOUNDATION
STATEMENT OF TRUSTEES, RESPoNSIBIL￿lEs
FOR THE YEAR ENDED 31 DECEMBER 2023
The truslges are responsibb for preparing th8 Trust•as' Report and the financial Statements in ace0rdan￿ wih
pli¢8ble law United Kingdom Awwnling Standards (Unitsd Kingdom Gènèrally Acwt4d A¢counting
Pr8Cticel.
Th• law 4)plICab￿ to charitss in England IhWe$ rgquiro$ thè Irustses to preparg finanrial stst8ments for oath
finantAal year whth a tru8 fair w8w of the state ol affairs of the charlty of tha inc4)mlng resources and
plcation of resourc85 of the charity forthat year.
In pwaring these financial statsments. thg tlustoos are required to..
- S8bct suitabl8 accounting pol￿￿$ and thèn 8ppty thom consisiontty..
. observe the melhods and principles in the Charibès SORP",
- makeiudgem8nts and 8sb"mates that are ￿8$ona￿a an(1 prud8nl',
- stot• ￿ether zpplicable accouThtir$ Standards have been followed, subject to any materid dgparbJr85 di5dos8d
and oyplaingd tn tho {￿an￿al statomonts., and
. prepare the financkql statements on the going concem basis unless ft Ss inappropriate to presume that the charity
wlll tonb.nuè in ¢)perats"on.
The trustees arè respcnsibl& for ke6￿n9 sufficient accounting records that diselose with reasonab￿ accuracy at any
lkne thè financaal posrtion of thè Ghanty and enab￿ them to ertsure that the finanoal statements comply wilh the
Charit*s Acl 2011. Ihe Charlty IA(£ounts aTrJ Reportsl Regul8tion8 20Q8 and th8 Provislons of the trust deed. Th8y
are also reSpo￿lb18 for safeguarding the as56ts of the charity and hence for taking rtasonable Steps lor the
Fw•vontion aNI dètèction of fr*Jd and othèr Irr•gularit*s.

THE ROSELINE FOUNDATION
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF THE ROSELINE FOUNDATION
Opinion
have audited the fin8nei81 statements of The RDseline Foundation (the 'charity'l fDr the yèar èrKlÈd 31
December 2023 thich coffjprise th8 Sta18m8nt of finanrial a￿l￿tI9$. the blance $h¢ot, thg $tatomgnt ol cash llows
and notss to the financial ststoments. induding significant accounting policies. The financial reporting fr8mework
that has bèen applied in their preparation is appl￿bI& law and Untted Kingd¢m AccDunbry Standards, indudirsg
Finanual RepDrting Stsndard 102 The Fin8nci81 RoportirNJ StaJJd•rd applicablg in the UK and Ropubllc of Iraland
(Untted kn'ngdom GenerallyAttep￿￿ Atrounting Practic81.
In our opin￿n, the financial stst8m8nts'.
give a trug and fair wew of the $tste of the chanty's a￿aIrS as at 31 D•c•rnbor 2023 aTrJ of it5 incomiTr3
resour¢%s and applitation of resources, for th8 year thgn endgd,.
have been properfy prepamd in accordanc8 With United Kingdom Ge￿r￿lY Ac¢8pt8<1 Ac¢ounlng Pr*be•",
and
have b8gn Prepar￿ in accordant4 Ihe requirernent5 of th? Charitie$ Act 2011.
8a•l• for oplnlon
Wa conducted our audit in accord8nc8 with Int81fi8tK)nal Stsndards on Auditing IUKI IISAS IUKII and applicable
law. Our responsibilitres und8r those standards are further described in the Auditorfs r&sponsitsl#J"&s f¢Ylhe audit of
Ihe fvnanual staf•m8nt5 S8Ction of our rgporL We are independent of the charity in a￿Ordanc0 wrth ihe ethical
requir¢ments that are rekvant to our audit of th8 finan¢ial statements in the UK. inehjding the FRC'S EthKal
standard, and wo have fvlfilkd our otherelhtsl responsibilities in accordance ￿1th these requirem•nts. Wa bolieve
Ihat tha audrtèVKl8nce we hav8 obtrln•d 1$ suffid8nt approp￿81• to pr¢vide a basis for our opinion.
Conclusion¥ r￿ating to golno ¢on¢ern
In auditing the financial statements, we have conc4ud¢d that thg trustee6' use of Ihe going COn￿M basis of
actounts.fig in the preparation of the financial statèmants apprcpriate.
Based ￿ thg *0rf( we have pertormed. we hav8 not identified any material uneertaintie5 relaling lo events or
Cond￿"0n$ that, indmdually or cxJllects"vely, may cast slgnificant doubt on the charlty'$ abilty kn continu8 a5 a goir#J
cOn￿M for a period of at18a5t ttvelve months from whet) the financi815tatem8nts are authorised for issue.
Our re£pons*>ikties and the responsibl1rt￿￿s of tho tru5te88 b*ith respect to 90ing conc8m ar8 described in thg
vant Sections of this report.
Oih¢r inforrnation
Th8 0th8r infomation ￿n￿)rISeS the information indUd￿l in the annual report othor than thÈ financial statements
and our audito¢8 report thereon. The trustee5 are twionsibl8 for Ihg other infomiation caatained within the annual
porL Our opinion on th8 finan￿al statements does not ￿Ver the Olher inforrnation and we do not exp￿$5 any fot
of assurarKe Conclusion thereon. Our responsitslity to read the othar infomiation aThJ. in doing so, tt)n$itl&r
whether the other infomiab.on is materially inconsistont wrth the financial Statements cr our knO￿edge oblair￿d in
the Cou￿9 of th8 audbt, or othawse appears to be mateNally misstated. If wg i¢Jgnkn"fy such material ineons15tena88
or apparènt mat&risl rnisst8tsm8nts, we are requSred to %Jetem)kne wh•ther this gives rise to a rn#terial rnisstatemant
in the financial statwents th8mselves. If, based on the work we have p8rf0rn8d, we ￿nrAUde that there Is a
material misstaternent of this othei InformatiorK wg requrgd to reportthat fact
We have nothing to report n this regard.
Matt•ts on whlch wo ar• r8qulr8d to report by eXc•p￿0￿
W& ha￿ nothing to report in resp8d ol the lellowing rnatters in relation to whl¢h thè Charitiès Ik¢ouTrts and
Reportsl R8gulations 2008 requir8 IJS to report to you il. in our opinion-.
the infom)ation givgn in tho finanoal statsments Is inc£￿51$t•nI in any material resrect wth the trLBtse$'
reporL or
suffident a￿Un￿￿j records have not been kept.. or
the finanoal statements afa not in agreement with the accounting record5,' tsr
we have nol rotsivèd all Ihe infornabon and explanab.ons ￿ Mquir¢ for our audit.

THE ROSELINE FOUNDATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE ROSELINE FOUNDATION
Rè•pon$ll¥llllI￿ of tru8tws
As 8X￿ained more fully in th8 ststgment ol tru$tee$' responsibil￿e$. thè InJst88s are r8sportsible lor Ihe prepa{a￿0Th
of tho fin￿Gla1 statgtngnts and for being sat'sfied that they giv8 a tru8 arml fair view, and for such int8tnal control as
the trustees delermine is necessary tts enablè the prep8ratK)n ol financial statements that are f￿e from material
misststement, whether due to fra1￿ or 8rror_ In preparing the financlal staternents, the trustees are responsible for
assessing Ihe charity's ability to continu8 as a goiry concem, disc1051ng, a5 4iplicabl8, rn8tters r8lateil to going
concern ￿ u$in9 the going concem basis ol acLounting un*ss the tnjstees either inteNI to ￿se operations. or
hav8 no realistic aMemats've bui to do so.
Auditorfs re¥po￿lbllrtl¢* forlhe audlt of the Ilnan¢lAI statements
We have been appDinted as audrtor under sedion 144 of the Ch￿t*S Ad 2011 and report in accordanee th the
Aet and relevant regulation5 made or havin9 effect thereunder.
Our D￿'eCtiveS are to obkn'n reasonable assuran￿ about whether the financlal ststements a¥ # whole are free frorn
material misstatement, whathar to fraud or error, an4Y lo issue an audito¢s report that indud&s our opinion.
Reasonab￿ assurance 1$ 3 high levol of assurance but 1$ not a guarantee that an audit ¢ondu¢ted in a￿ordanc
wtth ISAS IUKI will afv4ays detect a material misstatement bvhen it exists. Misstatements can arise from fraud or
error and a￿ considered material if, individualty or in the aggr8gat8. they could reas¢nably be •¥poctod to Milluèn¢•
Ihe econornici*risions ol u$8rs taken on thè basis of th8$e finan¢i81 $tOtemgnts.
The extsnt to whieh ¢)ur w¢eeilurts ar& capaNa ol detectin9 irre9ularib&s, including fraud, 1$ d•tail•d to1￿.
The rfsk ol matsrial rni58tat8m8nt due to grror or traud is deemed to be l¢)w wlthin Ihe erttty as th? charity operats
Strong intsrnal ¢ontrols to m￿gate any such nsk. These conlrds are reviewed as part of the audit by porforming
systèms walkthroughs to ensure they are UPErabng effectivety. Other substantive testing 1$ als0 performed on all
material balancts and therefore any tnstanc8s of non4ompliance should be SdentSfied or eonsidered as insignificanl
Manual journal ¥ntrie8 are scrub"nised by data anbtyb'cs sofN¥are u*d as part of lh$ audit
A frjrther de$¢rip¢lon of our r8sponslbilitios 1$ availab18 on th8 FinancAal Rep￿ting Council's webglte at htlps.'Il
www.froorg.ukjauditorsrgsponsibilth.es. This descripts.on forms part of our auditorf8 reporL
O¢h•r mattors
Your attenbon is dra￿ to the fact thal the charity has wepared finanual statetn8nts in 8￿rdanC￿ with'Aw)unt'no
and Reporting by Charitie5'. Statemant of RKommended Practt"ce applicable to charitie$ preparing their accounts in
fdan￿ wth the FinancAal Rsporting Standard applicable in the UK and Republic of Ireland IFRS 1021. la$
am8ndedl in prefe￿n￿ to Accounting and Reporting by Charitioj.. Slatsm¥nt of Re¢ommeThJed Pr8etie8 kwsued
on 1 April 2005 whith 1$ refgrred to in the èxtant ￿gulA￿.0ns but has now been bwthdr8wn.
This has I?￿ done kn order for financial stat¢monts to provKI8 a truo fair ￿eW in aec4rdancs vlith currant
Gen8raItyACceptsdA￿￿ntlng Prath.￿.

THE ROSELINE FOUNDATION
INDEPENDENT AUDITOR'S REPORT {CONTINUED)
TO THE TRUSTEES OF THE ROSEUNE FOUNDATION
Us• of our roport
report is rnade solely to the ¢harity$ trustee5, as a body, in accordan￿ part 4 of tho Chatitiés (Accounts
and ReFrf)rtsl Règulati¢)ns 2008. Our audit work has been uNJertaken so thatwe might stato to the charity's trustee¥
those matters are ￿qUired lo slate to them in an audito¢8 report an4 for at￿r purpose. To the fvI￿5t extent
p8rmitied by law, we do not accept or assum8 responsibility to anyon8 0th8r than th8 chaFity and the Charity's
trustees as a btsly. for audit work, lorthis report, or forthe opinions we have fomied.
(Y]',knknJJJ &tos- LkJ
29 October 2024
Mit¢he115 Grieyson Ltd.
¢hart•rod A¢¢ount•nts
Statutory Audittir
Kensington Hou89
Bishop Aud(larMI
DL14 6HX
is *ibl& for appointment 8¥ 8(vJitor of the Ch* by virtue of its e1vJi￿IrtY for appointsment as audrtorol a comwy
under secb'on 1212 of Ihe Cornpanies Act 2￿6.

THE ROSELINE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
UnrwJtricknd Ilnrestiicted
fund#
fund*
2023
2022
Incom• frorn:
Donations and legaoes
Investments
74,295,837
1,097,250
1.605,587
Totsl In¢¢mo
1.605.587
75.393,087
Exp•ndituro on:
Raising fuThJ5
Charrtab￿
252,892
741,084
51,137
269,940
Totsl 9X￿n￿ltur0
993,976
321,OTT
Net gain￿110&￿e￿I on investments
10
7,794,254
11,52S,8711
Net I￿orne and rn¢wemont In fund8
8,405,885
73.546.139
R•conclllafjon of fvDd$:
Fund balances ai 1 January 2023
8S,2Sg,784
11.713,645
Fund balances at 31 Dgc•mbgr 2023
93,665,649
85.259.784
The statemenl of financial aclivities indudes all gaSn5 and105585 recognis8d in the year. All irlcome aTrJ oxpenditur•
derive trL¥n conl'nuing ?ctivibgs.

THE ROSELINE FOUNDATION
BALANCE SHEET
ASAT 31 DECEAIBER 2023
2023
2022
Not•B
Flxed a￿•ts
Invegtr))ents
12
90,098,035
10,045.069
Cuvr•nt ass•ts
a¥h at b8nK and in hand
3,870.614
75.e62,922
Credltors.. amounts falllng duo withirt
one year
13
1303,0001
1448,2071
N•t ¢urr•nt assets
3.587.614
75.214,715
Total a8sets108• ¢urr•nt Ilabllltlèè
93.665.649
85.259.784
Th• fundi oltho ¢￿TIty
Unrestricted funds
14
93,665,649
85.259.7B4
93,665.fj49
85,259,784
Th8 finanaal ststeM￿ts were appwved by lh• trust8•s on 29 Ociobgr2024
Mr Michael Moran

THE ROSELINE FOUNDATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
Not•s
Cash IIow8 from opera*lng acllvlUe$
C8sh (absorbed byllgenerated from
operations
16
{1,139.1831
73,810,792
Inv•s￿ng a¢￿VI￿￿$
Purchase of investrn*)ts
Proc88ds from disposal of inveskn•nts
Invesknent income r￿￿ed
177.248,2131
4,989,501
1.605,587
11,935,6981
1,890,157
1.097.250
Not ¢a$h Iusvd invgonerated from
inv•stlng a¢tlvlll¢s
(70,653,125)
1,051,709
Net ¢•sh us•d in ffinancing activitle
Net Idecrea8elllner￿0 In co8h and ca•h
equh4lEnts
171,792,308)
74,862,501
Cash a￿j cash equiv*nts at beginning ol ye
75,662,922
800,421
Cash and cxh equivalents at •nd Df year
3,870,614
75.682.922
10-

THE ROSELINE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEhlBER 2023
A¢counling pollcl8S
Charity information
The Roselin8 Foundation is a charit*>￿ Incorporat•l Organisation registered with thg
Chant￿sCOmMISsiOn for Eng18nd and lthle5.
1.1 A¢¢ouniing Cortvontlon
The finan￿81 statemgnts have bogn pr¢pargd in a¢£o￿aKe wth the ¢hariV$ 9ovemin9 dovJmgnt, thg
Cha¢itios Act 2011. FRS 102"The Financial Reporbng Standard 8ppIic8ble in the UK and Republic of Ireland.
I"FRS 102.1 and the Charik$ SORP 'Accounting and Reporting by Charit185" Stat8rneat of Rgcomm8nded
P¥actice aP￿Icable to charits"8s preparing their ac¢ounts in accordance wth th¢ Financial Reports"n9 StsN1ard
appli¢able in tho UK and Republic of Ireland IFRS 1021" leffedive 1 January 20191. The ¢h8rity is a Public
B•nèfft Entity a$ defined by FRS 102.
Th¢ fjnancHI statements havè dèparted frorn th8 Charthes IArLounts and Reports) Regulabons 2008 only to
th• Èxtènt réqui￿ to prowide a tnje and labr view. Thi$ dsp8rtum ha5 involved followng the Statement of
Recullmended Praclice for chariti¢$ appJyin9 FRS 102 rath•r than the v?ision ol thè Staternent of
R8camm•ndgd Prac*c4 which Is Mfarr•d 10 in ttr￿ R8gulation$ but which has $inc6 been ￿t￿yT6￿).
The financial statements ara prepared in sterfing, whi¢h is the functional curr•ry of tkw charity. N•)n8tary
amounts in th9se financial statomants atg rounded to th8 r￿are51 £.
The finan¢k81 st8tsment$ have been prepared under the historical Cost convent#)n, m￿lifi$d to indudé thè
revaluation of fixed ass&t invests))ents Ilistsd inv•stmantsi and certain financial instrument$ at fair tra￿e]. Thè
principal aGCOWting poli¢ie$ adopte¢J are set out below.
1.2 Golny concom
At the time of approving Ihe finanrAal stat•m•nts, th8 tru5te&s hav8 a reasonablg oxpectalbn that the chanty
ha$ adequato r•sourcas t¢ ￿ntinue in operational exlsteTh¢o lor the for958eablg future. Thus the trustees
ontinye to adopt the going concern basi5 of a¢counb'ng in preparing the finaneAal statement$.
1.3 ChArtiabl¢ fun¢J•
Unrestrided funds ar• avallablo for uso at thg disuetion ol the t￿￿tea$ In futher8nL¥ of their charitable
Restricted fund5 are $ubJ"e¢t to speTrfic condthon5 by donors cf grantors as to how they may be used. Th
purposes and use¥ of the r8StriGted funds are set out in the notes to thè finan￿al statern￿
End¢)wmeni fvr￿s are to 5wfic condition$ by donors that the caprtal must bè mairtained by th8
tharty.
1A In¢omo
In¢otne is iecogni58d wh8n tharity is kgally entilled to it after any performanc8 ￿nd[￿.On$ have been met
the amounts ¢an be measured reliably, and r( is probab18 that in¢ome will be received.
Cash donations a￿ recognised i)n re¢elpL Other donations ar8 re￿gnIsed once the d)arity has been nolbfiad
of the donafjon. unlass perforrnance ¢ondJts"ons requi￿ defe￿81 of the amount. Income ts)r re¢oveTabk In
rd8bon to dorotK)ns receNed undèr GifÉAid or deeds of rA>venJnt 1$ ￿e0￿niSed atth8time of thg donation.
Lagaci8s are recogni5¢ol on rac4ipt or Othe￿[se rf charity has begn notified of an mponding dlstiibubon,
the amouTht ts known, and receipt is expeded. 11 th8 amount is r￿t known. the te9acy is Irfrated a5 8
Con￿ngent asset
11

THE ROSELINE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2023
A¢¢ounllng poll¢le•
IContlnued}
1.6 Expendltur•
Expenditure 16 recognised onco the￿ is 8 legal c￿ constnJ¢tive obligation to transf¢r oconomi¢ t4nafit to a
thir¢J party, it 15 probats￿ that a transfer of 8conomic b8n8fitS 1*711 be reqUI￿d in sett￿￿￿nt, and the amount of
tha oblvJath"on tan b• mèasurèd tdisbly.
Expgnditurg is classified by a¢**ity. The costs ol each activity aro made up of Ihg total of direct eosts and
shared costs, including 5UPPOrt costs invow in undertaking each activity. Direct Costs attribLrtable to a singl•
activity are b11c￿￿ted ditecJy to that actpity. Shared costs which contributg to thav one actNity and
support cost$ which are not attributsble to a single a(aiwty are apporb.oned be￿een those actsvities on a basis
consi5t8nt with th8 use of resources. Central staff costs are allocated on the basis of time spent, and
¢#8preaatK)n ch&rg0s ara ￿K)Cated on th8 portion of lh8 as88fs u88.
Commltments to pay urants
Grants payaN8 to b8n8ficiari85 of Ihg charity arg rocyjgnised when an offer has l)eon made to tho third parw
of financial $￿port. ￿ere a Mu￿. year grant is offered to a third paty the whole grant is recogni8ed a
cost up front and any unpaid ebmfjnt at th• y•ar en¢J is r8(J)gnisfd as a liabilrty Iwthin creditors.
1.6 Flxed aJ#et inve#trnents
Fixed asset investrnents ar8 initially m888urgd at transaction price exduding tra￿a¢t￿ costs. and are
subsequently measured at fair value at each tsporting dal8. The fair value used is the m8rket Val￿ obt8ined
a r8ccgni5ed sto¢k exchange or markeL Any inv6sbn8nts htsld in c￿￿￿cleS oih&r than GBP r8valued
at tho dosing market excnag8 ra18. Chang8s in fwr value are r8¢ognised In net incom6llexpeThJrturel loi th8
year. Tr8nsadion o)$ts a￿ expensed gs incurrad.
1.7 Cash and cash equlvalgnts
Cash and cash equivabnts indude Cash in hand, dep)5its hekl 8t call banks, other $hort-t¢mi liquid
V8slment8 wlth original maturjtss ol three months or less, and bank ov8rdrafts. Bank overdr?ft¥ arg shown
wthin bortEwng5 in cufTBnt liabilth'es.
Ba$lc flftanclal ass•ts
Bas￿ fmancial assets. whKh include debtors an¢J Cash and bank balances, are iNtialty measured at
tran$aL*'on pricè including transaction costs and are subsequenly carried at amorti88d cost using th8 effective
Inte￿$t method un￿SS the arrangement constitutes a f￿ancIng transaction, where the transaction is
m8asur8d at the pro$&nt valu8 of thè futurè rèc8ipt5 discounted al a rnathet rats of interesL Financkal as8ets
tlassified as rec¢ivablg thin one year a￿ not amortL%ed.
8aslc Hnanclal IlablllN¢s
Basi¢ finaft¢ral labilities. in¢lL¥Jing creditors and deferred grant P8yments are recogniBed at transactbn prlce.
de not di$wunl grant paymeNS recognL%ed as a liability but d8f8rred lo futur8 P8r#Jd$.
Der8¢agnftlon of flnan¢l•l li*knlitl•s
Finanaal liabilit￿ are dereeognised when th8 charitys contraclual obligations expl￿ or aro f*"schargèd or
csncelled.
1.8 Employ00 b¢nèfits
The charity does not hav• 8ny am￿0yt&S and COrtsequ￿￿y has no employment costs.
1.9 Foreign oxchangg
Transaetions in currenaes other than pound5 5terliThJ arF recorded at tl* ratgs ol oxchange prev￿￿n9 at tha
dates of the tr8nsaction5. At 8ach reportw end date. monptsry a55ets 8nd liabiliti&s that are denominated in
forgvjn cuir8ncies a￿ retranslated at the rates pravailing or* Ihe reporb.ng end dat•. Gains and losses arY6ing
on transla*'on in the pÈriiKI a￿ indud8d in profftor bs
12-

THE ROSELINE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Ineom• from donatlon* #nd bpacl••
Unmtrl¢trd Unr•8trkt•d
lund8
lund•
2023
2022
Donats"on$ and gifts
74,295,837
In¢om• from Sbwe8tsnents
UNmtri¢t•d lknr•strf¢t•d
funds
funds
2023
2022
In￿rn• Ir¢m listéd Inv•slm8nts
Olhef incL¥ll8
Interest re￿1V8b
425.199
87.491
1.W2.897
83,343
10,959
1.002.948
1,805.587
1,097,250
13-

THE ROSELINE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Rahlng
Unrutri¢tsd Unre¥trithd
funds
funds
2023
2022
Inv¢6tment management costs
252,892
51.137
252.892
51.137
Expendlture on ehirltabl• aetivitioa
Go¥omanco Gov8rMnce
costs
eost•
2023
2022
DI￿t ¢osts
Sundry op?rating costs
281
Grant funding of ac*wtlos16ee noto 61
736,803
266,475
share of •upport*nd gov•rnanc• costs Iseo note 71
Governanc•
4,000
3,465
741.084
269,940
Anoty8i¥s by lund
Unr•$th"ded funds
741.084
269,940
14-

THE ROSELINE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 DECEAIBER 2023
Grants payabl•
Govemancè Govemance
¢o$ts
Costs
2023
2022
Granis to institutions..
Disasters EMer￿nCY Cc¥nmitt
Gwgs F￿Jn￿8tion
S88farèrs Mi8sion
Sunderfand Chow
Sund¢rlandAltc¢J¢thor cons￿"uM
Sundgrtand Soup Kitch6n
Noras North Pole
Love Arnelia Baby Bank
OaslsAquil¥ Housing Association
Sunderland Mind
Washington Min(1
North East D8men*'a Carè
Bright Futures North East
Sundertand YMCA
Other
200,000
29,775
200,(QO
49,475
12.0001
111.365
5.000
22,000
20,000
21.200
20,000
20,000
20,000
21,050
248,393
3.000
736.803
266,475
Support ¢wts 8lk>catgd to a¢lfvltles
2023
2022
Audit fees
4,WO
3,465
Anatysèd lJ•twèen.'
Govemanr£ costs
4.000
3,465
Net mov•m•nt In fund8
2023
2022
Tho ￿t movement in funds is stated after chargiThJll(xgdts'ngl.'
Fees payable IDrlhe audit of Ihe charity's finAnu81 slatEm8nta
8,000
3,465
Tru•te
Tru¥t80 r•muneratton •nd •xp•n*
None ol the Irustee5 (gr any ￿[SOn$ connocte(I wlh th?ml re¢esved any rem￿n6ra￿.0n or banèffts Imm th*
charity duiing thè year.
15-

THE ROSELINE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR ThIE YEAR ENDED 31 DECEMBER 2023
10 Galns and lo$$e• on Investments
Unre•trl¢ted Unre•trS¢ted
funds
fund#
2023
2022
Gal￿/{105￿8s> ari$ng On..
Revaluation of invesknents
7,794,254
11,525,871)
11 Taxatlon
Tho ¢ha¢ity is exempt frcffi taxab.on on it8 acbw*•s t*¢auBg 811 its in¢om+1$ appl￿d for ¢h&nlabJo purp¢se&
16-

THE ROSELINE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
12 Flx•d a•••t Inv•sknents
Llstsd
Env￿lm0nts
Cash In
porwollo
Totsl
¢￿t or valuatoon
At 1 January 2023
Additions
Valuation changes
Di$pos81s
9,798,884
77,248,213
7.794,254
15.432,5521
246,185
443,051
10.045.069
77,691,264
7,794.254
{5.432.5521
At 31 De(￿ber2023
89.408,799
689,236
9),098,035
Carrying amount
At 31 December 2023
89,408,799
689,2
90,098,035
At 31 DgcornL￿r 2022
9,798.884
246.185
10.045.Cffj9
2023
2022
Inveshent$ at frair value cornpri5O'.
Cash 8r%l short maturrty bond
Doveloped gowmmènt btsnd$
Invastsmwt grada bonds
Develo￿d markel equiles
Emeryirvj marketequitfvs
Commot*t￿9
Real estate
Atsrnative trading strategias
HvJh Ysgkl and Er￿rgIng Mathet BorpJs
2,533,629
3.151,6fj7
4,120,686
70.339,689
4,850,837
1.447.088
1.685,312
302,123
1,467,004
459.708
328,386
329.238
6,392.928
1.344.131
309.784
391.051
228.844
261.019
90.098,035
10,045,069
2023
2022
Listed investrn8ni8 CArryino amount
90.098.025
10.045.069
Flxed •s$et Investm•nts r•v#lued
F￿e￿ asset investments, which represant investment$ hekl in an mixed inveslment portfc4ic are rnvaluad at
each period eThJ In accordanco wtth our accounting policy.
17

THE ROSELINE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (coKfiNUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
13 Credliord: amounts falllng duo vAthln ono y￿r
2023
2022
Other creditors
Arxwals deferred inryjrne
30,442
417.785
303,CDJ
303,C
448,207
A¢¢ruals and delerred inccfna indud¢s £200,000 ol grants ¢LYnmrtted and payable to beneficia￿¥ in futtjre
accountiThJ periods.
14 Unreotrl¢ted fund•
The unre$tri¢tod fvnd5 ofthe tharity cornpri58 the un8xpanded bolan¢e$ ol donal'on$ and grants which are
not subjectto SPg¢ifi¢ conditions by donors grantors as to how they May be used. These indude
desfvjnated frJr>ls which hav8 b88n set aside out of uNe$tri¢bY funds by the tnJstees for spocffic purposas.
At 1 January
2023
In¢omlng
Y•80y￿¢S
Resource
•xp•nd•d
Gains and
At31
lo￿•8 Dotsmbèr
2023
Gen8ral fvnd8
85259,784
1,605.587
1993.9761
7.794.254
93.865.649
Prevlous year.
At 1 January
2022
Incomlng
r•sourco8
Resour¢*s
oxpendod
Galn$ and
loss
At31
Do¢•mbor
2022
General fund8
11,713,645
75.393,087
1321.0771 11,52S.8711 85,259,784
15 R•knt•d party transa¢flon•
Thgre wgr8 no roktèd patty transaetsons in thè year. In 2022 thg charity re(*ivgd a donaton of £74.3m from
Tornbola Limited. At the tsme of Ihe donalion Tombola ￿ffi￿d was controlkd by 2 members of the board of
tru$tses.
18-

THE ROSELINE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR ThIE YEAR ENDED 31 DECEMBER 2023
16 Cash ￿e￿rnIed Irom operatlon$
2023
2022
Surplus for the year
8,405.865 73,546.139
Adjusb))ents for..
Investtnent incom8 recogrbi58d in statsm8nt of finawal
Falr value g8in$ and losses on investments
11,605,587) 11,097,250)
17.794.254)
1.525.871
Movements in w0￿1r9 capttal..
IDe(*&a8el in creditcrfs
1145.2071
1183.9681
¢4•h lah4rb•d byyg•norat•d from opgrntions
11,139.1831 73.810.792
17 Analy•l• of ¢hangè* In not fund8
Tho charity had no matsrial dgbt during the year.
19-