CHARrfY REGISTRATION NUMBER: 1196279 The Rodel Foundation Unaudited financial statements 31 March 2023 The Rodel Foundatlon Financlal statements Period from 26 October 2021 to 31 MarGh 2023 Page Trust8•s' annual rosx*t Independènt examin•I5 report to th8 trustees Statement of financial 8ciivitKs Balancè sheet Notes to the financial ststements The Rodel Foundation Trustees. annual report Period from 26 October 2021 to 31 March 2023 Th8 trustees pr8senl Iheir rop)rt and the unauditgd financial statements of the charity for the ended 31 K4arch 2023. The )Ina￿la1 statements have been wepared in accordarKe with the accounting pol1c￿ set out in not8s to the accounts and ¢C￿pty wlth the charitys goveming document, the Charrbes Act 20118nd Accounting 8nd Reportiro by Charities.. Statement of Recommend8d Pracice applicpble to charib.es prepafing their accounts In accord8rtce with th& Fin8ncial Reportlng Standatd appli¢8ble in th6 UK and Republic of Irèland published in Octijber 2019. Rgf•rnnt• and admlnlstr*live detalls R•glstered ch8vIty name The Rodel Found8tion Charity reglgtratlon numb•r 1196279 PrlncFpal 0ffi¢o 2 Upper Tachbrc*)k Stmt London SW1V 1SH The trustees The Iruslees whts served durin9 Ihe perlod and al the date of approv81 were as follows.. ma￿ Lorirller {AP￿nted 26 October 20211 James Wyfdbor&Smth (Appointed 26 O¢tob&r 20211 Angu8 Forrest IAppolnled 26 October 20211 Mark Proctor FCA DChA Lovewell Blakg LLP Chartered accountants Banksidè 300 Peachman Way Broadl8nd Business Pa No￿1¢￿ NR7 OLB Indèptndet7t gxamln Bankw$ Clydesdale Bank PIC 170 North Strs¢t Brighton BN1 1EA The Rodel Foundation Trustees. annual report (¢oftttnvo Period from 26 O¢tobor 2021 to 31 March 2023 Obs￿1¥•$ and actSvltl•s The charity has broad obiedve8 which includ8. without lwnitalion. choritable 9ft8 and any other deserving use. Publlc b￿•11t In shaping our objectives for th& wriod and planning our aclivities. the trustees have con$ldor$d the Charity Commi8slDn's guidance on public benefft. A¢hl•vements and p•rtomi•nce For the pariod ¢nd8d 31 March 2023 8 donatk)n 01 £30,000 was received fr￿n InverbToom Hydro Llmlted and in lum a grant of £17,000 was paid, leaving £12,975 01 cash resources available. The grant of £17,000 was awarded lor the restorauon of a Children's playground in Wè8t8r Ross, Scotland.- FinancSal rnvlèw The r8sulls of the charity'5 activ5tie$ arg summarised on page S. Thg RLthI Foundatlon had ng1 in¢omo of £11,475 for the period ended 31 2023. R9$•￿$ pollcy The tnjskes aim to m8inl8in reserves at a lev81 that would cover any lutur6 commitments of Ihe charity. Plans for futur• porlods Future plans cuThendy Indude funding a portion of the running costs of an after school f8dllty In Ullapool. Wester Ross and th• pussibility ol providing affordable housln9. 8tructur•, gov•m•nce and manag•m•nt Gov•mlng document Th8 Rodel Foundation Ith8 'Fwnilalion'l was founded as a regisiered Charftable Incorp9r8ted Organlsallon (number 11962791 In Ocl¢)ber 2021 to advance ch8ritsble purposes according to th8 18w (rf England and Walas as the trustees see fil from tlTh to time. Method of appoinim•ftt and glodlon of frustws All tnjstw werg ap￿Inted upon constituuon of the tNst doed. The trustees may apw'nt new trustses from out$idg the current and retlrfng board of trustees. Pollcles adoptod for thé Induth and tralnlng of Trust TTust8es ar• èneouraged to attend approprbote 6xtgrnal t￿In1￿ events wthere these wlll fadlitale the undertaking of thèlr role. Specific training is conducted as part of 8 bogrd meeting where appropriate. The Rodel Foundation Trustees. annual report (eMtlnu6dJ Perlod from 26 October 2021 to 31 March 2023 Structure, goV•r￿n¢? and man•gerrwrt (eoniinued) RITgk m•n•g•ment Th8 truste95 have con$idwed the major risks to whlch the ¢h3rity is exposed and have r•vimd these rfsks and established systems and pro￿dureS to manag& those risks. As part ol Ihl8 process the trustees are ea$¢0 lo report that the charitys intemal finaneial rxjntrols, in pa￿cUlar, comply in 41 relgvanl areas vlth guidelines ISSU￿ by the Charfty Cornmlssion. rru• and Fair overrld• The accounts {financlal statsmentsl have been prepBr•d lo glve a 'lrue and loirf. view and hav? departed rrom the Charities IAe¢ounls and Reportsl Regulations 2008 only to th& extent reqvlred to provide a True and fairf view. Thè departure hès Involved Aceounting end Reporting by Charities praparing their accounts Sn ac￿rdanC6 with th8 Finandal ReportirwJ Standard applicable in the UK an¢J Republic ol Ireland IFRS102) Issued in October 2019 rather than the AcCoUn￿ng and Reporbng by Charities= Statgmènl of Recommended Practice eff8Ctive from 1 April 2005 which has since been wthdr8wn. The IrustÉès' annuol report was approve¢J on Iru5tee3 by.. 13 Sèptembèr 24 aThJ signad on behalf of thè board of ma￿ Lorimgr Trustee The Rodel Foundation Indopendent examinerfs report to the trustees of The Rodel Foundatlon Period from 26 October 2021 to 31 March 2023 I report lo the charity trust99s on my examination of the financial statements of th• eh8rity for thg period ended 31 March 2023 whSch compris$ the statement of ffinancial actknles, balance sheet and the related notes. R?$ponslbllltles and bas18 of r•port As the charl1￿$ trustees you are responsible for the preparation of the financial St£tw￿nts in accordance with tha requiramants of the Charities Act 2011 I'lhe Act'l. I rtport in r•spgcl of my ¥xaminatl(M of the charty$ financial stataments carri•d out und8r sg¢tlon 145 of the Act and in Carrying out my examination I how followed all the 8pplicable D1￿clOn$ given by the Charity Commlssion under section 14515Hbl ol the Act. Inihp•ndont oxamlnor's 8tst•m*nt I havg corn￿9ted my exèmination. l Confirn Ihat no material matters have come lo my attention in connoclion with the examlnalion gmng me cause to b8118ve that in any matwial resp8cL. aruuntlng re￿rdS ware kept in respect of the charity as requir&d by sectlon 130 of the Aet.. the financial stataménts do not accord wlth tho$e records. or the ffinancial statèments do not comply with Ihg aOieablè rewlrements conceming th& form and content of Bccounts set OLrt in the Chariti8s (Accounts and Reportsl Rggulations 2008 other than any requirement that th8 a￿￿ntS give a 'twe and fairf view which is not a matter consi¢Jered as part of an ind$pendent examination. I have no concems and have come across no other maiters in connedon with the examlnalK)n to whl¢h ottèntlon should be drawn in this rgport in order tr> en8￿8 a propèr understsnding of tho accounts lo rgach8d. Your attenllon is drawn to the fact that the Charty has preparad the accounts Ifinancial statèn*nts} in ccordance with Accounting aTrJ Reporting by Charllies.. Statem8nl of Recommended Practice aP￿1¢atrde to ¢harities prèparing their accounts in accordance with the Flnan¢Oal Re￿)rti￿j Standard applicable in the UK and Republic of Ireland IFRS 1021 In preferenc8 to the Accounbr¥J and Roporting by Charfle$'. Statement of Recomm8nded Practice i56ued on 1 April 2005 whlch is releNéd to in the extant regUla￿on£ but has sln¢4 been wlthdrawn. l understand that this has been don8 in order for the a¢¢ounts to provlde a true and falr view in accordance with the Gengr¥lly Accep18(l Accounting Practice effeclive lor r&porling perlod$ Winning on or after 1 January 2015. Mark Proctor FCA DChA Indepgn(lent Examln8r Lovewell Blake LLP Chartered accountants Bankside 31)0 Peachman Way 6roadland Business Park Nomch NR7 OL8 1610912024 The Rodel Foundation Statement of financial actlvitles Period from 26 October 2021 to 31 March 2023 Pèriod from 26 Oct 21 to 31 Mar 23 Unreslricted funds Totsl fund$ Incom• and endowments Donations and legacies Total Incomo 30.000 30,￿0 30,000 30.0(KJ Exp•ndltur• Ch8rltsbfe actTrv¢lies 18.525 18.525 Total ex￿ndItUT 18.525 18,525 Net Income and nèt mov•m•nt In funds 11.475 11.475 R•¢onclll4tlon of funds Total fijnds brought fcThard Tt>tal fund$ carrl•d forward 11,475 11.475 The stat8m8nl of flnancial acti￿lieS I￿ludeS all gains arKI lossas rscognised in the perfod. All irthme and éxpenditure deri￿ from ccffifjnuing S¢1￿1￿. The noto3 on pages 7 to 9 forni part ol th•$tr finon¢lal statsments. The Rodel Foundatlon Balance sheet 31 March 2023 31 Mar 23 Not• Current asset$ Cash at bank and in hand 12,975 Credltors.. Amounts falling dug Withln on¢ year Ngt curront a38ets 11,5(K) 11,475 Total assets l•$$ current Ilabllltits Not as$•ts 11,475 11.475 Fund8 ol ¢harity Unfestrfct8d funds 11,475 T¢)tal chartty fvnds 11.475 Th9$9 financial statsments were approve(I by the boanl of trustsa$ authorised for issu8 on 13.S$ptgmber.24 and are signed on bèhalfof the board by-. Lorimer Truste& The notes on pag•$ 7 to 9 fomi part of thes• fin•n¢ial statements. The Rodel Foundation Notes to the financial statements Period from 26 October 2021 to 31 March 2023 Genorol InforniatFon Tha charlty ks a publlc bene17t entily and a regI$18red chBrity in England and Wales and is uninwpjrated. The address of the prindpal offK8 is 2 Up￿r Tachbrojk Street, London, SW1V 1SH. Statem•nt of compllance The eharity constitutes a public benefrt entlty a$ defin&l by FRS 102. Th9 fmandal slalements have been preparèd in accordance wlth Accounting Reporting by Charili8s'. Statem$nt of Recommendèd PTaCti¢e applicable to ch8rili8s proparing thgir accounts in Occordance with th& Financial Reporting Standard applicable in the UK 8nd Republic of Ireland issued in October 2019, the Flnancial Reportin9 Standard Mpplicabl8 in the United King(Jom and Republic of Ird8nd {FRS 1021, th9 Chariti•s Act 2011 and UK Generally knepted Accountin9 PractlGe. The financial stal*ments have been wepared to gwa a Irue and falrf view And have departèd frc#n the Charitles IAcoounls and Reports) Regul0￿0￿$ 2008 onty lo the &xtenl r8quired lo provide a Irufr and fair view.. This rleparture has invofved fdlowing the A(tounting and Reporting by Charities.. Statamenl of Recomm•nded Pra¢￿'￿e appllcable to ¢harities preparing therr accounts in accordance wlh the Flnancial Reporting Standard applicabl& in the UK and Reputll¢ of Ireland issu8d in Octoboi 2019 rather than Iho Accounting and Reporting by Chariti8$.' Stat&monl of Recommended Practice effecliva from 1 April 2005 whith has Since been wilhdiawn. AccountSng poll¢tes Basis of pr•paratlon The financl81 $talemenl$ have been prèpared on thtr historical cost ba$is. Golng ¢onc•rn The Ilnana81 statsments have prepared on a going concern basts as the Irustogs b81iev8 that no matari81 uncertainties exist. The trustees have consldered the level of funds held and the expected level of income and axpendlture for 12 months from aL￿l￿S1n9 th&sè financ1￿ statement$. The budgeted tnwme and expendlture is suffiei8nt with Ihe levèl of reserves for Ihe charity to be 8ble to confjnue as 8 going concem. Fund a¢¢ountlng UnTestri¢led fund$ are avgilable for use at the discretion of the tru$tee5 to further any of the charitys purposes. Ineomg l income is included in the statement ol financial activitl8s when enlmement h85 passed to the charity, il 1$ probabl8 that thè è¢onomlc benefits associat8d the transactlon wlll flow to the charity nd the arnount can be rnlkgbty maa$ured. The followlng specific polic￿ are aPpl￿d to parlc#Jlar legori¢$ of Income." incomè from donations or grants is recognlsed when ttr￿re Is evodènce of ènlrUem•nt lo th8 gift, receipt is probable and Ils arrount can be measured reliably. The Rodel Foundation NotOS to tho financial stslements (coDllntMéI Period from 26 October 2021 to 31 March 2023 Actountlng p•li¢ies {¢onllnu•dJ Expendltur• Expenditure is rec(wJni8ed on 8n accnjals basis as a liability is incurre¢J. Expenditure indudes #ny VAT which cannot ba lully recovered, ar¥J is dassified under h8adings of the slalement of financi81 activiti98 to which it relates: expendllura on charitatAe acti￿11￿$ indudes all costs Incurred by a charty in undertaking acbvMÈ$ that furtt)er its charitable wms for the benefjl of its benèficlarfes, induding those support costs and osts relatong to the govemance of the charity apporU0n￿ to charitsble actiwties. All costs are allo¢ated to expenditur8 categorie$ rBfflectlng the u8e of the resource. Direct costs attributatAe to a single aCti￿ty are ollttated diredy lo that actrvty. Shared costs are app￿oned belween the activitses thèy contrlbul$ to on B r88$0nable. lustlflable and consistent basis. Gra•)ts Grants payable ara payments mad& lo ihlrd part￿ in th8 furtherancè of the charitsble objects of the Foundation. Single or mults'_yèar granls are accounted for when either the recipient has a rèasonable expe¢talion that they will r8cewe a bursary and the trusleas have agreed to pay the grant wthout condibon, or thè recipl8nt has a r8a$onable &xpectslion thèt they will ￿ceive th• grant and any eondibon attsching to the grant is outside th& conlroj of thè F¢undation. Flnancl•l Instruments A financial asset or a financial liability is recognls8d only when thg entjty bècomes a party to the conlractval provisions of the Snstrument Basi¢ financial instruments are inltially recognised al the amount receivable or payable includlng any rdaled tr8n$action costs. unless the arrangement constilutg8 a flnancing transBcUon. where it is rerTrJnised ¥1 the presant value of Ihe futu￿ payments discountsd at s rnarket ral* of interest lor a similar debt Instrum&nt. Curnnt assets and current liabilities are subsequent￿ measured at Ihe cash or other considgration OXP9¢ted to be p8id or recLlved and r￿t discountsd. Dobt instrLNnents are subsequenly me8sur•d at amorfjsad ¢o$l. Donatlon$ and 10gaclg Unreslrkted Total Funds Fund6 2023 Donations Donalons 30,000 30.000 Exponditure on charitsblè aclfvltleJ Unrestrict8d Total Funds Funds 2023 Grants Bank Charges Support 17.0 17,000 25 1,500 18.525 25 1.500 18,525 The Rodel Foundation Notes to the financial ststements (contin[￿￿} Period from 26 October 2021 to 31 March 2023 Staff co¥ts Tho charity has no 8mploye8s and therefore no employts Teceiv8d ￿p10Yea bgnelits of mor6 than £60,000 during the year. Trust¢e r•mun•rntlon and èxpensès No remun9ralion or olher beneflts were rnceived by tho trustees. Cr•dltors.' Amounts falllng due within one y•ar 31 Mar 23 AGcru8ls 1.500 Analys15 of ¢harltabl• funds Unrestrl¢ted fund$ At 31 March 2023 26 October 2021 Incorne Expendilure General funds 30,000 118.5251 11,475 10. Analy$ls of net 4ss•ts between funds Unrestrictsd Total Funds FLtnds 2023 Current assets Crgdrtors less Ihan 1 year Net as$•ts 12.975 11.5001 11,475 12,975 11,500) 11.475 11. Rolated partles A donation of £30,000 w88 receivad from Inv¢rtxoom Hydro Limlta