Charlty rgglstralion numbor 1192888 IEngland and Wales)
THE ROSELINE FOUNDATION
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

THE ROSELINE FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustses
Mr P J Cronin
Mrs AJ Cronin
Mr Michael M¢yan
G M Purvis
Susanne Kennedy
Mr Michad Cronin
Mr RACronin
Mr James Cronin
Sophi¢ Cronin
Charlty numbgr
1192886
Registered office
Fernwood House
Femwood Rold
Jesmond
Newcastle upon Tyne
Unite¢J Kt"ngdom
NE2 1TJ
Auditor
Milehells Gilevson Ltd
3 Kensington House
Bishop Auckland
Co Duham
DL146HX
Bankelsllnvestment manage¥s
Barclay$ Bank plc
1 Churchill Place
Canary Wharf
London
E14 5HP

THE ROSELINE FOUNDATION
CONTENTS
Pago
Trustees, report
IndepW￿enl auditorf8 report
Statement of financial 8ctivitie8
Balancè shaal
Statement of cash flows
Notes lo the ftnancial statements
10-16

THE ROSELINE FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Thé trustees present their annual repclrt and financial ststements for the year ended 31 December 2024.
The financial statements have been prepared in accordan¢o wrtm the accounting policies sel QLrt in note 1 to the
financial stslemenls and ￿mplY wllh the ¢harty's governing document, the Charities Act 2011 and "Accounling and
Reporting by Charities.. Statement of Recommended Practice applic￿le to charities preparing their accounts in
accordance with the Finan¢tal Reporting Standard applicable in the UK and Republic ol Ireland IFRS 102)"
leffects.ve 1 January 2019).
Obj•ctSvo$ and actfvitles
The objects of the chaty are lo advance suth charitable purpose$ (according to the law of Er4Jland and Wales) for
the public benefit in the North East of England and elsewhere, by providing grants, lo registered charities andlor
olhor organisations.
The trustees have paid due rggard lo guidancè Issued by the Charity Commission in deciding what aclNilie5 the
arity should undertake.
Introductlon to a¢tlviti8S
This is the fourth period of operation of the charity following our establishment as a CIO in December 2020. The
ambition of the charity is lo e$tsbJi$h E*self as a grant giving chanty which will support other charities in their work
over the longer temi.
The investment markets performed well during 2024 in tho areas our investments are held. a mixed of investments
managed by professional investment managers, Bar¢lay$ Wealth and UBS.
continued lo offer grant support to mainly local charitiès in the SunderlaTrJ Area arKI hav• spent the ye8r
building a relationship wlh many charitable organisatK)ns. visiting the charities to See their work and what Support
wè could offer them.
We continued to support several charities wè have funded in previws years. thile also prowding grants to several
organisations for the first b"me. Donations and grants included support for the Greggs Foundation Ilo fvnd breakfast
clubs), Love Amelia, Ihe Sundedand Altogether Consortium, Pallion Action Group. Bxk on the Map. and many
others.
We also made a dOr￿tiOn to the Disasters Emergency Committe
also paid an additional £200,000 lo The Foundation of LKJht, the f¢urth Instalment of our four-year fundlng
agreement with them and extended this arrangement to offer them a fvrther h¥0 years of funding al £200,000 4
year.
Grant maklng pollcy
The Foundation a¢￿p1S awlicalions from organisation$ working in the areas of Welfare, Youth. Community. Arts.
Faith, Enwronmenl, Education, Health and Museums & Heritage.
È primarily focu$ our gr￿ts on ¢yganisations who are based or operate in s￿defIand and th& Surrounding North
East of England, although grant5 from elsewhere are occasionalty made.
We support UK registered char￿e¥, r￿l$t￿red educational and religious charities that are exempl under the Charfty
Commission Guidelines and museums and galleries.
Use of volunteers
The charity has no stsff and Is wholty operaw by 9 trustees who volunteer their lime to help assess and monitor
grant giving.

THE ROSELINE FOUNDATION
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Achlevements and ￿rfOrManCe
Flnanclal review
Income from our investments including bank deposits fell from £1,605,587 in 2023 to £1,260,199 as we shifted ¢)ur
investment strategy out of cash and into our portfolios with Barclays Wealth and UBS to obtain better caprtal gro
in the medium and long temi.
Investment management fees amounted to £427k and we paid out grants (rf £5.58m. Other than the payment for
our audrt fee and one or other small costs we had no othei op&rating costs, with trustees giving their time freoly
lo manage the chatbty. Tho investments we made increased by £12.7m. Overall we made a suiplus of £7.95m for
Ihe year.
Reserves policy
The charity received ong off donalions of £86.3m after its foTmalion. The trustees decicled to invest the donations
re￿iVed lo produce an annual income to allow the charty to pay out grants mainly in the Sunderland and
surrounding area. However there is no pokcy to relain the core capi181 arising from the donations, and larger
donations wll be made on a case by case basis. The reserves policy is to relain enough funds to enable the chanty
to make donations for at least the next 10 years.
Our investrnent w)licy 1$ to invest our fvnds in a mixed portrollo of equities and interest bearing invostsnonls.
ensuring that thè invéstments are made in an ethical way. Our investments are professionally managed by Bardays
Wealth and UBS who regularty tAvi8è the trustees on their investmont strategy.
Plan$ for future perlods
Our plans for 2025 include increasing the number and aver898 value of donalioTIS that we pay c*Jt to chariti8s in the
Sundedand area. We also aim to increase our support for se￿ndary sthoojs in th8 city induding the planned
launch of a fund for caprtal projects.
Structurei governance and managornont
The charity is a charitable incorporated organisation ICIO), formed by the adoption of its Constituti￿ on 21
December 2020.
The Iiuslees who servod during th8 year and up to the date of signature of thg financial statements were:
Mr P J Cronin
Mrs AJ Cronin
Mr Michael Moran
G M PUNIS
Susann8 Kenne
Mr Michael Cronin
Mr RACronin
Mr James Cronin
Sophie Cronin
The founding trustee8 wère all appointsd on Ir￿rpOration of the charty as a CIO on 21 December 2020. AII th•
founding trustees were apkxsinted for fixed inf(ial tsrms to slagger the dates of their r•lif¥M￿t.
New trustees are elected by resolution at a meets.ng of the trustees for a period of three years.
In selecting individuals for appointment as charty trusloes. the charity trustees have regard to th& $kill$, knowledge
and ex￿rienCe neoded for the effeciive adminislralion of the Clo.
The charity has a sSmple slnjclure with a L*airman el8cted ty the ljoard of trustees. There are no staff employed by
thè charity.
Decisions of the trustees are made al trustee meetings which are held once a quarter. Dedslons a￿ made by
majority vote.

THE ROSELINE FOUNDATION
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Since the charty w88 incorporated there have not been any new trustees appointed. However the poliw we havg
have is that new trustees are provided with a brief history of the Foundation, a copy of the conslitutuion, copy
minutes. report and a￿Ount$ for the previous three years together with a copy of the Charity Commission's The
Essential Trustee.. What You Need to Know.
None of the truste￿ receive remuneration and we have no staff.
stst?ment of trustees. responslbllliles
The trustees are responsible for preparing the Trustees, Report and the ftnanaal statements in ac￿rdanCe with
applicable law and Unlted Kingdom Accounts"ng Standards (unit￿ Kingdom Generally ACCO￿ Accounliryj
Practice).
The law appfi¢able lo tharities in England and Wales requlres the trustees to prepare financial statements for each
financial year which give a true and fair view of the stsle of affairs of the charity and of the incoming resourcès
app1KalI￿ of resourcès of the charity for that y¢ar.
In pr8paring these financial statements, the trustees required to-.
select suitable a¢counling policies and then apply them ￿nsIstenI1y',
- observe the methods and prinuples in the Charities SORP..
Make judgements and eslimales that ara reasonable and prudent.,
state whether applicable accounting standards have been followed. subject lo any material departures disc4osed
and explair*l in the financial statements.. and
prepare the financial stalemgnts on the going concem basis unless It is inappropriat8 to presume that the tharty
will wntsnue in operation.
The trustee8 are responsible for keeping suffiaent accounting records that dis¢lo$e with reasonabio accuracy al any
time the financial position of the ¢harity and enable them to ensure that the financial stalem8nls comply with the
Charities Act 2011, the Charity (Accounts and Reports) Regulab'ons 2008 and the provisions of the trust deed. They
are also rèsponsible for safeguarding the assets of the charity and hence for tsking reasonat4e steps for the
prevention and detection of fraud and other irregulafib'os.
The trustees, rèport was approved by the Board ofTrustees.
Mr Michael Moran
Trustee
24 October 2025

THE ROSELINE FOUNDATION
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF THE ROSELINE FOUNDATION
Oplnlon
We have audited thè flnandal statements of The Roselino Foundation Ithe 'charty? for tho yoar endod 31
Decgmber 2024 which Comprise the ststemfynt of financial ath'wtie8, the balance sheol, the ststeménl of ¢ash flows
and note5 to the financial staternents. including significant accounting policies. The financial reporting framewort(
that h88 been applied in their preparab'on is applicable law and United Kingdom Accounting Standards, includlng
Financial Reporting Standard 102 The Financial R8portm￿ standa￿ applicable in the UK and Republic of Irel&nd
(Unitod Kingdorn Generally Accepted Accounting Practice).
In our OFinion, the financlal slalements..
give a true and fair view of the slate of the charil*s affairs as 8131 December 2024 and of ils incoming
resources and application of resources. for the year then ended.,
have been properly pr&pared in accordance with United Kingd¢yn Generally A￿pted Accounting Practice..
and
have been prepared in a¢cordan¢e with the CharitiosAct 2011.
Bash for opinion
We conducted our a￿111 in accordance with Intemalional Standards on Auditing IUKI IISAS {UKI} and appIl￿ble
law. Our ￿spOnsibl1111eS under those standards a￿ fvrther desciibed in the Audilorfs Trsponsibililies for the audit of
the financial statements section of our report. are independent of the charty in accordance wlh the ethical
requirements that are ielevanl lo our audit of the financial st*ements in the UK. including the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordance wth these requirements. We believe
that Ihe audit ewdence we have obtained is sufficient and appropriate to provide a basi$ for our opinion.
Concluslons relatlng to goln9 con¢em
In auditing the financial statements. we have conctuded that the trustees. use of the going COn￿M basis of
counting in the prgparation of the financial statements is appr¢)priate.
Based on the work we have perfornied, we have not idenbfied any material uncertainlies relating to events or
conditions that. individually or collectively, may cast significant ¢*subl on the charity's ability lo continue as a going
concem for a period of at least tselve months from vthen the ffinancAal ststemenls are authorised for issue.
Our responsibilities and the responsibilities of the trustee5 wfth respect to going cone£m a￿ described in the
relevant sects'ons of this report.
Other informatlon
The other infomiation comprises the irrformation inctuded in the annual ￿port other than the finanaal ststements
and our audilorfs report thereon. The trustees are responsible for the other infomialion contained wlhin the annual
report. Our opinion on the financial statement5 does not covef the oth?r information and we do not express any fom
of assurance conclusion Ihereon. Our responsibility is to read the other infoimab.on and. in doing so. consider
whthr the other infom)alion is materially inconsistent with the financial statements or our knovledge oljtsined in
the course of the audit, or otherwise appears to be materially misstsled. If we id&nlify su¢h material incon5islencies
or apparent material misslaternenls, we are required to determine whelhef this giv9$ rise to a maleiial misstat•m8nt
in the financial statements themselves. If. based on the work we have performed, we condude that there is
material misstatement ol this other infomiation. we are required to report that fact.
We have nothing to report in this regard.
Matters on which we arn required to report by exception
We have nothing to report in respect of the folowing matters in relation to which th8 Chanties IAeeounts and
Reports) Regulats"ons 2W8 requires us to report to you if, in our opinion..
the information given in the financial Statements is in¢on&stent in any material respect wth tho trustees.
report.. or
suffi¢i&nl accounting records have not been kept", or
the financial statements are nol in agreement with Ihe accounting records., or
w& have Mt r￿1Ved 811 thè infom)alion and explanations we raquire for our audit.

THE ROSELINE FOUNDATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE ROSEUNE FOUNDATION
Responslbllltles of tntstoes
As explained more fully in the statement of Iruste8s' responsibilities, the tswstees are responslble for thè preparation
of the finanoal statements and for being satisffied that they give a true and fair view, and for such intemal control as
the trustees detemine is necessary to enable the preparation of financial statements that are free from material
misstatement. whether due to fTaud or error. In preparing the financial statements. the trustees are resp￿sIble for
assessing the charitys ability lo continue as a going concern. disdosiry, as applicable. matters related to going
oncern and using the going concem basis of accounting unless the ttuslees either intend lo Cease operations, OT
have no realistic altemative but lo do so.
Audltorfs responslbllltles for the audit of tho financial statemènts
We have been appointed as auditor under section 144 of Ihg Charities Acl 2011 and report in accc*dan¢e wlth the
Ad and relevant regulations made or having effect Ihereunder.
Our objectiv88 are to obtan reasonable assurance about wheth6r the financial statements as a whole are free fmm
material mi$ststement. whether due to fraud or error, and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordan
with ISAS IUKI will always detect a material misstslement when il exists. Misslalemenls can aiise trom fraud or
error and are considered material if, individually or in the aggregale, they could reasonably be eypected lo infiuence
the economK decisions of users taken on the basis of these financial ststemonl$.
The gxtenl lo which our procedures are capable of detecting irregularrti88, Induding fraud, is detailed bdow.
The risk of mat8Tial misstatement due to error or fraud is deemed to be low within the enb'ty as the charity operate
strong inlemal controls to mitigate any such risk. Theso controls are ￿VIeWed a$ part of the audk by performing
systems walkthrough5 to ensure they are operating effectivèly. Other substantive testing is also perforn)8d on all
material balances and therefore any instsnces of non-compliance should be identified or wnsider8<1 as insignificanL
Manual journ81 entries are ￿r￿tInis8d as part of the audrt.
We also
Obtsined an understanding of the nature of the 8ector, indudin9 the legal and regulatory frameY4orks that
the charitablg company operate in and how the thamtable company arg complying Mih tha Iggal and rogulatory
tr￿eworkS
Inqulred of management, and those charged with govemance, atout their own identiflcation and
assessment of the risks of irregulorthes, including ony known actual. suspected or alleged in$l?nces of fra￿4
Discussed matters aboul non-compliance with laws and regulations ond how fraud mlght occur induding
assessment of how and where the )InanrAal statements may be 8uscepts.ble to fraud
A fvrther descript￿ of our responsibilities is available on the Financial Raporttng Council's website at= https.'Il
www.fr¢.org.uklaudilorsresponsibilth"es. This description forms part of our auditor's report.

THE ROSELINE FOUNDATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE ROSELINE FOUNDATION
U$0 of our report
This report is made solety to the charity's trustees. as a bc¥ty, in accordance with Part 4 of the Charities (Accounts
and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate to the charity's Iruslees
Ih¢)se matters we are required to slate to them in an auditor's repx)rt and for no other purpose. To the fullgst extent
perniitted by law. we do not accept or assume r&sponsibilily lo anyone other than th& ¢harity and th8 charity's
trustees as a body. for our audit work. for this rep)rt, or for Ihe opwiions we have fom)ed.
n,knJL C_
24 October 2025
Mitchells Grievson Ltd.
Chartered Accountants
Statutory Audltor
Kensington House
BishopAuckland
DL14 6HX
eligibl6 for appointrnent as auditor of the charity by virtue of it$ 8llgibility for appointment as auditor of a company
under sedion 1212 of the Companies Act 2006.

THE ROSELINE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOMEAND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
UnrgStrict•d Unre$trl¢ted
funds
funds
2024
2023
Notos
In¢om• from:
Invèstments
1.260,199
1,605.587
Total Incomo
1.280,199
1,605,587
Expendlture on:
Raising funds
Charitable activ￿.9$
427,148
5,588,885
252.892
741.084
Total expenditure
6.016,033
993,976
Nel gainsl{lossesl on Invesknents
12,706,171
7,794,254
Net income and movement In funds
7,950,337
8,405.865
R•conciliatioth of funds:
Fund balances at 1 January 2024
93.665,649
85.259.784
Fund balanc•s at 31 December 2024
101.615,986
93.685.649
The statement of financi4 activiti8s includ8s all gains and losses recognised in the year. AJI income and expenditure
derlve from continuing activities.

THE ROSELINE FOUNDATION
BALANCE SHEET
AS AT31 DECEMBER 2024
2024
2023
Notes
Fixed a$sets
Investments
11
103,501,561
90,098.035
Current assets
Cash al bank and in hand
1.147,824
3.870.614
Creditors: amounts falllng due wlthin
one year
12
13.033,199)
303.000)
Ngt ¢urrgnt Illabllltlesllassets
11.885.575}
3.567,814
Total ass&ts less current Ilibllltle8
101,615,986
93,865.649
Tho funds of tho charity
Unrestricted funds
13
101,615.986
93,665,649
101,615,986
93,665.649
The finanrjal statements were apprO￿d by the truslee$ on 24 October 2025
Mr Michael Moran
Trustso

THE ROSELINE FOUNDATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Notes
Cash flows from op&rnling activill•s
Cash absorbed by opgrations
16
{3,285,8341
(1,139.183)
Inv•sting activities
Purchase of investments
Proceeds from disposal of Investments
Investment ir&?me received
{13,963,7781
13.266,423
1.260,199
(77,248,213)
4,989.501
1,605,587
Net cash generated fron￿lUs9d In} Invosting
aetivltle*
562.844
170,653,125)
Net cash g•n•rJtsd from Ilnanclng actlviti•$
Net decrease in cash and cash oqulvalènts
12,722.9901
{71.792,308)
Cash and cagh equivalents at bg9inning of year
3.870,614
75.662.922
Cash and ¢a$h oqu1va￿nts at •nd of y•ar
1.147.624
3.870,614

THE ROSELINE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng pollcles
Charlty Information
The Roselino Foundation is a Charitable Incorporated Organisation registored in %Mth the
Charitiescommission for England and ￿les.
1.1 Basls of preparatlon
The financial ststement$ have been prepared in accordance wlth the ch￿ty,$ goveming document,
Charitie3 Act 2011, FRS 102 Yhe Finanual Reporting Stsndard applicable in the UK RepublK of Ireland"
fFRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Ststemenl of Recc¥nmend8d
Practico applicable to charities preparing their accounts irb accordance wtth the Financial Reporting Stsndard
applicable in the UK and Republic of Ireland IFRS 102)" leff•ctive 1 January 2019). The chaiity is a Publ
Benefit Entity as defingd by FRS 102.
The financial stslements have departed from the Charthes (Accounts and Reportsl Regulalons 2008 onty to
the extent requirad to provide a true and fair view. This departure has involved fgllowng the Statement of
Recommended Practice for charities applying FRS 102 rather than the version of the Ststement of
R8￿MMended Practice which is referred lo in the RegulatioTr$ but ￿1¢￿ has since been Iwi￿raWn.
Tho financial statements are prepared in sterfing, whlch is the fijnctional curiency of the charity. Monetary
amounts in these financial statements are rounded lo the nearest £.
The financial statements have been prepared under the historical cost Convention. modified to Ir￿1￿19 the
revaluation of fixed ass&1 investments (listed investments} and certain financial instruments at fair value. The
principal accounting policies adopted are sel out below.
1.2 Qolng concorn
Al the time of approving the financial ststemènts, the trustees have a reasonable expectation that the charity
has adequate resources lo continue in operational existence for tho foreseeable future. Thus the trustees
continue to adopt the going concem basis of accounting in preparing the finantial statements.
1.3 Chaiitable funds
Unrestricted funds ar8 available for use at th• disuotion of the trustees in furtheran￿ of thek tharitatAe
objecb'ves.
Restricted funds are subjed to specific conditions by donors or grantors as to how they may bg used. The
purposes and uses of the r9$tricled fund5 are set oul in thg notos lo the financial statements.
Endowment fund5 afe subject to speafic conditions by donor5 that the capltsl must be maintained by the
charty.
1A Income
Income is recognised when the charity is legally entitled to rt after any perfomance conditions have been met.
the amounts can be measured reliably, 8nd it is probable that income will be recelved.
Cash donations are recognised on receipt. Other donations are recognised once th8 charity has been rK)tified
of the donation, unl8ss performance conditions require deferral of th& amount. Income tax recoverablo in
relation to donations received under GiftMd or deeds of covenant is recognised at the time of the d{*￿tIon.
Legacies ale recognised on receipt or othenvise rf the charity has been nolffled of an Impending distributi￿.
the amount is known, and receipt is expeded. If the amount 1$ not known, the legacy 1$ Irealed as a
contingent asset.
io-

THE ROSELINE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
A¢¢ounting pollcl•$
Icontlnuedl
1.5 Expenditure
Expenditure is recognisod once there is a legal or constructive obligation to transfer economic benefft lo
third paty, it is wobable that a transfer of economic benefits will be required in $8ttlernent, and the amount of
the 0￿￿a￿On can be measured reliably.
Expenditure 1$ classified by a¢livity- The costs of each activity are made up of the lolal of direct ￿SIS and
sharod costs, including support costs Involved in undertaking each activity. Direct costs attributable to a sbngle
adivrty are allocated directly to that activty. Shared costs which contribute to more thèn one activity and
support costs %thich are not attributable to a single activity are apportioned befv￿n those ￿tivitieS on a basls
consistent wth the use of resources. C&nlral staff costs are allocated on the basis of time spent. and
depreaalion ¢harges are allocated on the portion of the asset's use.
Commllments to pay grants
Grants payable to benefficiaries of the charity are recognised vthen an offer has been made lo the third paty
of financial support. Where a multi year grant is offered to a third party the whok grant is recogni$ed as a
st up front and any unpaid element 01 the year end Is recognised as a liability within creditors.
1.6 Flxed asset Investments
Fixed asset investments are initially measured al transaction price exelu(thng transaction costs, and aro
subsequenlEy measured at lair value al each reporting date. The fair value used is the market valuo obtained
on a recognised stock exchang8 or market. Any investments held in Cufrencies other than GBP are revalued
at the closing market excnage rate. Changes in fair value are recognised in nel incomellexpendilure) for the
year. Tran$a¢tion costs are expensed as incuired.
1.7 Cash and cash equivalents
Cash and cash gquiv?1gnls indude cash in hand. deposits held at eall banks, other short-temi liquid
investments wAlh original maturities of three months or less, and bank overdrafts. Bank overdrafts are sh¢)wn
thin borrowings in ¢urrenl liabil￿.88.
Ba￿¢ flnan¢lal assets
Basic financial assets, which indude debtors and cash and bank balances, are initially measured al
transaction price including transaction costs and are subsequently Carried al amorh'sed cost using the effectNe
interest method unlgss the arrangement constitutes a financing transact•)n, where the transaction 19
measured at the present value of the fijlure receipts discounted at a market raie of Inleresl. FinanGial assets
assified as r$ceivable within one year arè not amortlsed,
Ba$1¢ flnan¢lal liabiliti8S
Basic financial liabilltbes, Indudlng credllors and deferred granl payments are recognised at tfansaction pri￿.
Vve do not discount grant payments recognised as a liabilty but deferred to futufg Feriods.
Derecognition olfinanclal Ilabllftles
Financial liabilities are derfjcogni$ed when th& charitls contractual obligations expire or are dlstharged or
¢anc¢lled.
1.8 Employ0& benoflts
The charity does not have any employees and eonsequenlly has no employTnent costs.
1.9 Forelgn èxchang•
Transactions in cUrren￿e$ other than pounds sterfing are recorded al the rates ol exchange prevailing at the
dates of the transactions. At each reporting end dale. monetsry assets and liabilities that are denominated in
foreign currencies are relrarbslated at the iales prevailing on the reporbng end dat8. Gains and losses arising
on tran￿atIon in the period are inctuded in profit or loss.
11

THE ROSELINE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED>
FOR THE YEAR ENDED 31 DECEMBER 2024
Incomg from Investments
Unrestricted Unre$trl¢tod
funds
funds
2024
2023
Income from listed investments
other income
Interest receivable
899,103
162,688
198.408
425,199
87.491
1,092.897
1,260.199
1,605,587
Ralslng funds
Unrostrlcted unr￿tricted
funds
funds
2024
2023
Investment manag8menl costs
427,148
252.892
427,148
252,892
Exp•ndlture on ¢harltable actlvllle8
Grant giving Grant glving
2024
2023
Direct eosts
Sundry operating costs
2,548
281
Grant fijndlry of activlties {8ee note 5}
5,582,297
736,803
Sharn of Support and gov•rnanc• costs (see note 61
Governance
4,040
4.000
5.588,885
741,084
Analysis by fund
unrestn.cted funds
5.588,885
741,084
12-

THE ROSELINE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Grants payab
Grant giving Grant glving
2024
2023
Gran15 to institutions..
Foundatlon of Light
Disasters Emergency Committe
Sunderland Attogether Consortium
Rank Foundation
SHARP
Shine
Back on the Map
FISCUS
Sunderland Carors Centre
Oasis Community Housing
Sundedand YMCA
LoveAmelia
Pollion Action Group
Easington Lane Community Action
Others
400,000
200,000
840,000
300,000
80,000
2,096.875
80,000
80,000
80.000
60,000
80,000
80,000
80,000
80,000
1,085,422
200,000
111.385
20.000
22,000
15.000
2,613
20,000
21,050
23,500
20.000
281,255
5,582,297
736.803
Support costs allocated to acllvttles
2024
2023
Audit fees
4,040
4.000
Analy$¢d b•iwwn:
Grant giving
4.040
4,000
Net movemènt in fvnds
2024
2023
The net movement in funds is 8tated after chargingllcrediting)..
Fees payable for the audit of the charity's finanaal stslements
4.040
8.000
Trustees
Tru$ts• remuneratlon and •xp•n$•s
None of the trustees lor any persons connected with fvml received any remuneratton or benefrts from th&
charity during the year.
13-

THE ROSELINE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Galns and losses on Investments
Unrostrlcted Unroytrl¢tod
funds
fund¥
2024
2023
Gainsl{losses) arising on:
Revaluati¢)n of investments
12,706,171
7,794,254
10 Taxation
The charity is exempt from taxalion on 11$ activities because all ils ineome is applied for ¢haritable purpo$8s.
11 Flxed ass•t Inve$trnents
Llsted
investments
Cash in
portfollo
Tolal
Co¥1 or Yalualbn
At 1 January 2024
Additions
Valuation Changes
Disposals
89.408,799
13,963,778
12.706,171
{14,209,5671
689,236
943.144
90,098.035
14,906.922
12,706.171
114,209.5671
At 31 December 2024
101.869.181
1,632,380 103,501,561
Carrylng amount
At 31 Dacember 2024
101.869,181
1,632,380 103,501.561
At 31 D￿mber2023
89,408,799
689.236
90,098,035
2024
2023
Investments al fair value comprise..
Cash and short maturity bonds
Developed govemment btsnds
Inve$trnent gr8de bonds
Developed market equities
Emerging market equ￿.8$
Commodities
Real estate
Alernative tradlng strategles
High Yield and Emerging Market Bond$
2.771.496
4,132.110
3,794.348
82.591,175
6,059.959
772,223
1.879,183
340,526
1.160,S41
2,533.629
3.151.667
4,120.686
70,339,689
4.850.837
1.447,088
1,885,312
302.123
1,467,004
103.501,561
90.098,035
14-

THE ROSELINE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
11 Flx•d assot Investments
Icontinuedl
Listed investments induded above..
2024
2023
Listed investrnènis carrying amount
103,501,561
90,098.035
Flxed ass*t Investsnents revalued
Fixed asset investments, which represent investments held in an mlxed investment portfolio are revalued at
each period end in accordance with our accc4jnkn.ng policy.
12 Creditor5'. amounts falllng du• ￿1th1n one year
2024
2023
Accruals and defttrrtd income
3.033,199
303,000
Accruals and deferred income includes £2.910,0¢)0 12023:£200.000) of grants committed and payable to
bEneficiarie5 in future accounlThig ￿r￿)d$.
13 Unrestrlcted funds
The unrestricted funds of the charity comprise the unexpended baances of don8lion$ and grants which are
not subject lo specific cLJndith"ons by donors and grantors as lo how they may be used. These include
de51gnated fiJnds which have been set aS￿e out of unrestn.cted funds by the trustees for Specific purpo$8S.
At 1 January
2024
Incoming Resources
rosources
expendèd
Gains and
losses
At31
Dec&mbor
2024
General funds
93,665,649
1,260.199
{6,016.033) 12,708.171 101,615.986
Prevlous y•ar:
At1 January
2023
Incoming Resou￿e$
re50urce5
•xpend¢d
Galns and
losses
At31
December
2023
General funds
85,259,784
1.605,587
1993.976)
7,794.254
93,665,649
14 Rolat*d party tran$a¢tlon$
There were no disclosable related party Iransactsons during the year {2023 - none).
15-

THE ROSELINE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
15 cash absorbod by operatlons
2024
2023
Surplus for th8 year
7.950.337
8.405,865
Adjustments for:
Investment income recognised in statement of finanaal activitie$
Fair value gains and losses on investh)ents
11,260.199) 11,605,587)
112,706.171} 17,794,254)
Movemgnts In worklng capltsl:
Increaselldecreasel in creditors
2,730.199
(145.207)
Cash absorbed by op•rntions
(3,285,834) {1.139.1831
16 Analys1$ of changes In netfunds
The charity had no material debt during tre year.
16-