CHARITY REGISTRATION NUMBER: 1196279 The Rodel Foundation Unaudited financial statements 31 March 2024
The Rodel Foundation Flnanclal statements Year ended 31 March 2024 Page Trustees. annual report Independènt examlnerfs report lo the truste85 statement of financial actwiti8S Balance shegl Notss to Ihg financlal ststornents
The Rodel Foundation Truste•s' annual report Year ended 31 March 2024 The Iruste8s present Ih&ir report and the unaudited fin8ncial stalemants of the charlty for the year ended 31 March 2024. The financial statements ha tMn prepared in a¢cLYdan(¥ wAth the 8izounting polic$ Set wl in notes lo the accounts and comply wilh ihe chority's govèfning document, the Charitie$ Act 2011 Bnd Accounting and Reporting by Charities.. Statement of Recommended Pracb"c¥ applicable lo charitsgs preparing thelr accounts In a¢¢ordance vAlh the Financtal Rgt)ortirg Starmlard 8ppllcabJo in the UK and Republic of lieland published In Othber 2019. Ref•r•n¢e and adminlstr•tlv• detsll$ R•gi&tsr•d ¢h4rtty namo The Rodel Foundation Charlty rogiStratlon number 11279 Princlpal offic• 2 Uppw Tachbrook Street London SW1V 1SH The trustees The trustees who during the year and al Ihe dat8 of approv81 wer• as follows.. Mark Lortmer Jame¥ Wdbora-smlth Angus Forrest Indep•ndont •xamSngr Mark Proctor FCA DChA Lovewell Blake LLP Chartered accountants Banksiije 300 Peachman Way Broadland Business Park Norwch NR7 OLB Bank¢rs Clydesdala Bank Pl¢ 64 London Road craaY R10E
The Rodel Foundation Trustees. annual report (eonfjnu¢dJ Year ended 31 March 2024 ObJ•eilves and actrvtU•s The ¢harity has broad objectlves to a(Ivanc& charitable purptsses as the Tnle8$ see fil, which Include, vAthout limitob"on, the 9iwng of charitable gifts to support deserving ¢ause8. Publle b•neflt In sh8pSng our objectives for thtr period ond planning our a11103, the trusteès have eonsidered the Charity Commission's guldance on publlc benefit. A¢higvem•nt* and p•rfomian¢t For the ye81 ended 31 March 2024 8 grant of £8,l?0 was awarded for p8rt of a restor8tion W0¢t of Chlldren's p18y9round In Wester Ross. Scoll8nd. Flnanel41 revi•w The rtsults of charitys activities are $ummarlsed on page 5. The Rodel Foundatim had net exwndilure of £9,500 for the year 8nded 31 Marth 2024 {2023'. net Income of £11.475). Resèms pollcy Thè trustees ¥im lo molntsln reserves At a level that would cov8r ary fvre commltments of the charfty. Pl4n8 for future perlod$ Fuiurg plans currenuy Include fundlng a wrbijn of tho running costs of an after sthool fadllty in Ullapool. Westèr Ross and thg posslI(ty of providing affordable houslng. Struetur•. s0ManC• and manag•mont Gov•rnlrig dowm•nt The Rod81 Fwndallon (the 'Foundation"I was fouThJed 8$ 8 Tegist•r•d Chartlable Incorptsrated Organls8llon Inumb8r 119e2791 in October 2021 to ajvance (a)aritable wrposes accixdng lo the law of England and WBl&s 8$ the trustees see fit from time to tim&. Algthod olappolntment andelectlon ol Trustees AJI trustees were appointad upon con$lrttJlion of th8 tluxl deed. The truste89 may appoint r4 trJste•s from outsidè the curt8nt and retiring board of Iruste6S. Polle1 #doptod lor the Induets(>n and tralning of TrusteOS Trustees are èncouraged to attend appropriate external training events wher& thèse bwll facllitat6 thè undèrtaking of their role. Specific tralnlng is conductad as part of a boaid meeting whore appropriate. Rlskmanagement Thè tnJst88s have considered the major rlsks to which the chBrlty Is tsxposed and have reVw¥d th8se risks and established systems and procedures to m8nag8 thos¢ risks. As part rtrf this process the Iruslees are pleasèd to report that the charity's intemal finr91 control8. in parts'cuLar, mty in 811 rolevanl areas with guiddinos issued by the Chartty Commission.
The Rodel Foundation Trustees. annual report fconrfnu6 Year ended 31 March 2024 Structure. gov¢mance and Man4m•nt (eontlnuodj True andFalr ovenlde Thg accounts (fina181ateMèntsI have been prepared to give a an(1 laiff view and hav& departed from Ihe Charitio8 (Accounts arKI Reports) RegulatnS 2008 only to th8 èxient required to wovlde a 'true and fair view. The departure has involved Aecounting and R8POrting by ChartUes prepariThJ Iheir aco)unts in accordance with the Financi81 Reporung Standard appluble In the VK ard Republic of Ireland IFRS102} Issued in Oelober 2019 rather than the Aceounng and Reporting by Charrfies.- Statsment of R8ctsmmend•d Pradcg gff8ctive from 1 AMI 2005 which has since been withdrawn. truste and Signed on behalf ot the board of s by.. M8rk Lorim8r Twstee
The Rodel Foundation Independent examln•rfs report to the trustees of The Rodel Foundation Year ended 31 March 2024 I report to the charity trustees on my examinatlon of thg financ1 Statements of the charity fvjr the year ended 31 March 2024 which cL)mprfse tho statement of financial actimties, balance sheet and th• r•lat•d nol•s. Re¥pon$lbllltl•$ and basis of T•POrt As the chadw$ Iwslees you are respon81tAe for the preparalton of thè finan¢lal 8tstsmènts In accordance with the reqUirnents of the Charitiès Act 2011 I'lhe Act'l. I report in respect of my axaminatirm of the charity's financial slatements Carrs out under $tIt)n 145 of Ihg Act and in carying out my examlnalion I have followed all the applicable Dir8ctions givèn by thè Charty Commission undei sèctlon 14515}Ibl ol the A¢t. Ind•wndènt examinerfs stat8mont I have ¢omFleted my examinatlgn. I confinn thal matarial matters have c4)me to my attention In connaction with the examIna giving me cause to b&llèv& that in any material respect.. accountlng rrS were nC*t kept In rèspect of the charity as mquir8d by Sli0n 130 of the Act; or the financlal statoments do not ard w6th those re¢ord8,' or the ffinanclal stat&m8nts do not CoMY wth the aPIcable requirements coneemin9 the fom and content of accounts set out in the Charlll85 {Awounts and R8portsl Regulatlons 2008 other Ihan any requirement tt)at the accounts give a 'true and fairf view which is not a mattgr considered a8 part of an indèpgndgnt examlnatlm. I have no concems and have ¢omo a¢ros$ no (%heT matters in connecllon th the ex8mination to which attentlon should be drawn in this report in (Yd8r to anabl• 8 proper understandlng of tha a¢counts lo bg r8a¢hod. Your attgntknn is drawn to thg fact that the Chartty has prepared the accounts (financi81 slatemèntsl in accordance with Acctyjntlng and Reporlng by Charities.. Statement of RecommeThJed Pracllce appll¢able lo charities preparing their Bccwnts in accordanee wth Ihe Financial RewrtitYJ Standard apylicabl8 in the UK and Republlc of Ireland IFRS 1021 In prefar8ncè to the Accounting and Rewjrbng by Charflles.. st8lerTrenl of Recommended Pr8etic• ls$ued on 1 April 2005 which is relerred to In the gxlanl regulations but has since been wrfhdrawn. l under8tarKI thst this has been done In der for the accounts lo promde 8 twe and fair view in accordancè 7Mth thè Gèn8rally Accepted A¢¢tIng Pracilce effect1 for reportiro p8rfods be&inning or after 1 January 2015. Mark Proctor FCA DChA Indepandont Examiner Lovewell Blake LLP Chart•r8d a¢untants Bankside 300 Peachman Way Broadland 8usln9s$ Park N0ch NR7 OLB 3010112025
The Rodel Foundation Statement of financlal actlvltles Year ended 31 Mah 2024 Period from 26 Oct 21 to 31 Mar 23 Year to 31 Mar 24 Unre5trlct8d lunds Totsl fvnds Total funds In¢om• and endowments Donations and legacies Total Incom• 30.000 30,000 Exp•ndlture Charitable a1118$ 9,500 9.500 18.525 Total expendltu 9,5(10 9,500 18,525 N•t1gxp•ndltur•ylncom• #nd not movenwnt In lund$ 19.5CKI) {9.500) 11.475 R•¢oncillation ol lund$ Total funds brought forward Total funds urrled for*•rd 11,475 11,475 1.975 1.975 11.475 Th& statement of financial aetwili8s In¢lude6 all g8lns an¢J losses recognised in the year. AJI income and expenditure derive from continuing activlues. The nol•s on pagos 7 to 10 l¢rm m Of th9$0 Ilnancial statsment&
The Rodel Foundation Balance sheet 31 March 2024 2024 2023 Note Curr•nt a$$gts Cash al bank and in hand 4.975 12.975 Credftors: Amounts falling duo wlthln on• year {3,000) {1,5001 N•1 current asmts 1,975 1.975 11.47S Total •ssets less curr•nt Ilabllltl•s Ilel 488ets 11,475 1,975 11,475 Funds of th• charlty Unrestricted fund$ 1,975 11.475 Total ¢harfty fund• 10 1.975 11,475 Those financial stat•ments were approved by thg board of trustees and autIKsrserf for 18su& on 3Q.January.2.9.25 and are signed on b&haN of the board by.. Lorimgr Trustee The nots• on pa90 7 to 10 f¢rm part of thes• ffnan¢lal statsments.
The Rodel Foundation Notes to the flnanclal statements Year ended 31 March 2024 G•h•ral InfoatTr Th& charfly is g publi¢ ben8fft entity and a reglstered charity in England and Wales and 1$ unincorporalod. The address of the princip officè is 2 Upper Tachbrook Street, London. SWIV 1SH. stat•m?nt of compllanc• Thè charY consulutes 8 p(knlie benefit entity as defined by FRS 102. The financial statemants have been prepared in accordance wlth Accounting and Reporflng by Charities.. Statement of Recommended Practice appl1¢x• to charities preparrng their s¢Unts in a¢cor{Jan with the Flnancial ReFQrting Stsndard applieBble in the UK and Rgpublic of Ireland issued in Octobèr 2019. thè Financlal Reporting St8ndard 8ppll¢able Sn the Unlted Kingdom and Republic of Ird8nd IFRS 102}, the Charities Ad 20114nd UK Generally Accepted Accountsng Pradoce. Thè financlal statements have bÈon pr8pared lo give 8 Irue and fai vltsw and have dwrted from tho Charllies {Accounts Reports) Regulattons 2008 onty to the extfjnl requirgd lo provide a Irug and fair vieW. Thi5 departure has invofved folln9 the Acccmjnting and Reportlng by Chartbes.. St8tement of Recomrnendad Pra¢fjce applicable to charities preparing their 8ccounts in accordance wilh thg Financlal Reporlng Standard appllcable in the UK and RÈpubllc of Ireland issLd in October 2010 rdther than the Accounting and Reporting by Charlties.. stateTrt of Recommendéd Pracuce effective frorn 1 Apnl 2005 whS¢h has since been withdrawn. A¢countin9 poll¢les Basls of weparatlon The financial st8lem8nts have been prepared on the hlstoftcal c1 basis. Going con¢•rn The fina181 stataments have been prepared on a going concem basis as the Irusto8¥ believfr that no maleriol uncertainties exist. The trustees have consider8d the lgvgl of fun(ts held and the èxpectéd level of income and expenditure for 12 months trom Buthorising thes8 financia 8tatemenls. The budgettrd income and expenditure Is $uffiu8nt with the lgvel of rgserves for the eharity lo be able to conts'nue as a golng concem. Fund accounting Unrestricted funds are availablè for uso al Ihe dlscretion of the Irustess lo further any of the chÈrity's purpos&s. Incom• I Income is Included In the statèment of finan¢l81 activtbes when enteMent has pa$setl to the charity, il is probabl8 Ihal Ihe ecorTromlc b8nefrts assoaated with Iha transacllon flow to the charrty and the amount can be rèliably measured. Th8 followng ScIfiC potiaes are applied to partlrular cat8gories of income-. - Income from don8tlons or grants is recognised when there 13 evidènce of entidwnenl to the glft, r8ceipt is probable and its amount can be measured reliably.
The Rodel Foundation Not•s to the financial statements (MnllnU) Year ended 31 March 2024 A¢truntIng poli¢ltrs (¢onllhu¢dJ Expendftur• Expendituffj 1$ recognised on an axw813 basis as 8 liabillty is incurred. Expenditur& include3 any VAT which cannot be lully recoVed. 8nd is c185srfied under headings of the statamenl of financial activiti$8 to which it rplate5'. expèndlture on ¢haritabl8 8Ctiwlies includes all costs incurred by a charity In undertaking activits.ès that fvriher its charitabl8 alms for the beneflt of its ben8ficiari8s. Induding tho¥e support costs and eo$t$ relating to the gov•mance of tha charity apportioned to charttable actiMtO&s. All costs are allocated to expenditure categories refiacting the use of the res(xJrce. Dired costs attributable to a single advlly are allocat8d direcuy to that advlty- Shared costs affj apporuoned befvtsen the aetiwlies they contribute lo on a reasonable. justifiable arxl consSstent basis. Grants Grants payablg are payments made to third parties In the fvrth8Trnce of th8 ¢haTMable oblgcts tsf the Foundation. Slngle or mulli-year grants are accounlod for when either the recipient has 8 reasonable expectation that Ihèy will recelve 8 bursary and the trustées hava aged lo pay the grant without ¢ondltion, or thé rePient has a reasonaN8 expectation that they will rec•iv• thé grant and any condlt6on attachlng to the grant is outsidè th8 control of Ihtr Foundallon. Flnanclal Imtruments A financlal gsset or a financial liabllity is rKognised only when th& •ntlty bec¢)mes a paty to the ontractual provisions of the instrument. Bas1¢ financial Instruments 8r8 Inltlally recogfti8ed at thè amount r8¢grvable or payable including any related Iransactlon Costs, unless the arrangement conslilutes a finanang transaction, where 11 1$ rec(yJnised at the present v8lue of the fijturè payments discountad at a market rats of Interest for a simllar debt Instrument. Cuvrent assets and current liabililles 8ubsequ8ntly measuTrd at the cash or other consideration expectad to be pald or received and not discountgd. Dgbt instwments are subsaquentty measured at amorused cost. DonationB and l•qacles Unreslrfctèd Total Funds Unrestricl8d Total Fijnds Funds 2024 Funds 2023 Donatlons Donation$ 30.000 Expondlture on ¢haritabl• a¢li¥ltl•s Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Grants Bank Char& SuFPOrt costs 8,000 8.000 17.000 25 1,5C(I 17.000 2S 1.500 1.500 1,50D 9,500 9.500 18,525 18,525
The Rodel Foundation Not•s to the financlal statements [ln•¢I) Year ended 31 MarGh 2024 Indopend•nt trxamlnatlon fe•$ Period from Yoar to 26 Oct 21 to 31 Mar 24 31 Mar 23 Foe$ payabl¥ to the Inijependenl examlner lor.. Independent examination of the finondal statements 1,500 Staff costs The charity has no &m0ya$ and thèrefor8 no p10 roceived am0ye8 bnlts tsf more than £60.000 during the year. Trusts? r•muneratlon •nd •xpgnws remungralion or other b•neffls w&re recelvgd by Ihe trust888. Credltors: Amounts falling du• withln on• y•*r 2024 2023 A¢¢ruals 3,0 10. Analysls of charltabje fund$ Unrestrleled funds At Incoma Expendlture 31 Mar¢h 2024 1 April 2023 Ger81 funds 11,475 19,51)0) 1.975 26 October 2021 Income Expend6ture At 31 March 2023 General fund 30.orKJ 118,5251 11.475
The Rodel Foundation Notes to the financlal statements (will•11) Year ended 31 March 2024 11. Analys1$ ol net asuts betren fund¥ UnstrIcted Total Funds Funds 2024 Current assgts Credllors less than 1 year Net a•ts 4,975 13.0001 1,975 4.975 {3.000) 1.975 Unrgstrictod Total FuThJs Fund$ 2023 Current 83sets Credltors les$ than 1 year Net a•¥ets 12.975 11,5001 11.475 12,975 11.5001 11.475 12. Relatsd p•rtlo$ There were no reted party Iransacttons during the perJd 6nded 31 March 2024. In the year ènded 31 March 2023 a donation was recelved from Inverbroom Hydro Llmitsd, a company of which Ma Lcllmer is a director. 10