Charity registration number 1197512 IEngland and Wales) Company registration number CE027945 SHOWMANROSE FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024
SHOWMANROSE FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs H R Showman Mr SA Showman MrDHRose Mr J G Showman MrAS Showman Charlty number (England and Wales} 1197512 Company number CE027945 Principal address Manor Mill Victoria Street Chadderton Oldham OL9 ODD Reglster&d offl¢e Manor Mill Victoria Street Chadderton Oldham OL9 ODD Independent examiner Lopian Gross Barnett & Co 1st Floor, Cloister House Riverside New Bailey Streèt Manchester M3 5FS
SHOWMANROSE FOUNDATION CONTENTS Page Trustees report Independent examinerfs report statement of financial activities Balance sheet Notes lo the financial ststemenls 5-10
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SHOWMANROSE FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SHOWMANROSE FOUNDATION I report to the trustees on my examination of the financial slalements of Showmanrose Foundation (the Charity) for thè year ended 30 November 2024. Responsibilities and basis of report As the trustees of the Charity land also its directors for the purposes of company lawl, you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the financial slalements of the Charity are not required lo be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination. I report in respect of my examination of the Charity's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the Charities Ac12011. Indepgndent examlngrfs stalement Since the Charity's gross Income exceeded £250,000, the Independent examiner must be a Member of a body listed in section 145 of the Charities Act 2011. 1 confirm that l am qualified to undertake the examination because I am a member of ACA, which is one of the Iisled bodies. I have completed my examination. I confirm that no matters have come lo my attention in connection with the examination giving me cause lo believe that in any material respect". accounting records were not kept in respect of the Charity as required by section 388 of the Companies Act 2006. the financial slalements do not accord with those records., or the financial slalemenls do not Comply with the awunting requirements of section 396 of the Companies Act 2006 other than any requirement that the finanaal slalements give a true and fair view, which is not a matter considered as part of an independent examination,. or the financial slalements have not been prepared in accordance wth the methods and principles of thè Statement of Recommended Practice for accounting and reporting by charities spplicable lo Charities preparing their financial slalements in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concems and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the financial slalements lo be reached. Lopian Gross Barnett & Co Nathaniel Davidson BAIHonsl ACA (Senior Independent Examiner) 1st Floor, Cloister House Riverside New Bailey Street Manchester M3 5FS 16 June 2025
SHOWMANROSE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 NOVEMBER 2024 Unrestrlcted Unrestrlcted funds funds 2024 2023 Notes Income from: Donations and legacies Investments 270,000 22,325 336,000 12,228 Totsl income 292,325 348,228 Expendlturg on: Charitable activities Other expenditure 33,000 11 51 Total expenditure 33,106 51 Net gainslllossesl on investments 12 1110,0001 130,0001 Not Incomg and movem9nl In fund$ 149,219 318.177 Reconclllatlon of funds: Fund balances al 1 Dember 2023 464,467 146,290 Fund balancos at 30 Novgmb9r 2024 613,686 464,467 The statement of financial activities includes all gains and losses recognised in the year. Al income and expenditure derive from continuing acliviliès.
Signed on 18/06/25 @ 07:48 Signed on 18/06/25 @ 09:25
SHOWMANROSE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 Accounting policies Charity inforniation Showmanrose Foundation is a private company limited by guarantee incorporated in England and Wdles. The registered office is Manor Mill. Victoria Street. Chadderton. Oldham, OL9 ODD. 1.1 Accounting convention The finanaal statements have been prepared in ardan with the Charity's SORP, the Companies Act 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" l FRS 102.1 and the Charities SORP 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordan wth the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021" leffective 1 January 20191. The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has tsken advantage of the provisions in the SORP for charities not lo prepare a Stslemenl of Cash Flows. The financial slalements are prepared in steding, which is the functional currency of the Charity. Monetary amounts in these financial ststemenls are rounded to the nearest £. The financial slalements have been prepared under the historical cost convention. The principal accounting policies adopted are sel out below. 1.2 Going concern At the time of approving the financial statements. the trLJStees have a reasonable expectation that the Charity has adequate reSoUrS to continue in operational existen for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Reslricled funds ale subject to specific conditions by donors or grantors as to how they may bè used. The purposes and uses of the restricted funds are set out in the notes lo the financial slalements. Endowment funds are subject to specific conditions by donors that the capitsl musl be maintained by the Charity. 1.4 Income Income is recognised when the Charity is legally entr(led lo il after any performance conditions have been mel. the amounts Can be measured reliably, and it is probable that in¢ome Mrill be reived. Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income lax recoverable in relation to donations received under GiftAid or deeds of covenant is recognised at the lime of the donation. Legacies a recognised on receipt or olheNise if the Charity has been notified of an impending distribution, the amount is known, and reIpl is expected. If the amount is not known, the legacy is treated as a ntingent asset.
SHOWMANROSE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 30 NOVEMBER 2024 Accountlng pollcles Icontlnuedl 1.5 Expendltu Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, il is probable that a transfer of economic benefits will be required in selllemenl, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The c051s of each activity are made up of the lolal of direct cost5 and shared costs, including support costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated dire¢lly lo that activity. Shared costs which contribute to more than one activity and support costs which are not attributable lo a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Fixed asset investments Fixed asset investments are initially measured al transaction price excluding transaction costs. and are subsequently measured at fair value al each reporting date. Changes in fair value are recognised in nel inme1(expenditLjreI for the year. Transaction costs are expensed as incurred. 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held al call wth banks, other short-lerm liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown thin borrowings in current liabilities. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement conslilules a financing Iransaclion, where the transaction is measured at the present value of the future receipts discounted al a market rale of interest. Financial assets classified as receivable within one year are not amortised. Basie financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised al transaction price unless the arrangement constitutes a financing transaction, where the debt instrLJment is measured at the present value of the fijture payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequendy carried 81 amortised cost, using the effective Interest rale method. Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially al transaction price and subsequendy measured at amortised cost using the effective interest method. Dere¢ogniÉion of financial liabilities Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged or cancelled. 1.8 Employee benefits The cost of any unused holiday enliuement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
SHOWMANROSE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 30 NOVEMBER 2024 Critical accounting estimates and judgements In the application of the Charity's accounting policies, the trustees are required to make judgements. eslimales and assumptions about the carrying amount of assets and Iiabilrties that are not readily apparent from other sources. The eslimales and associated assumptions are based on historical experience and other factors that are considered lo be ielevanl. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimales are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and ftjture periods where the revision affects both current and future periods. In¢omg from donatlons and 19gac19$ Unrestrlcted Unrestrlcted funds funds 2024 2023 Donations and grfts 270,000 336,000 Income from investments Unrastricted Unrastricted funds funds 2024 2023 Income from listed investments Interest receivable 22.200 125 12,110 118 22,325 12,228 Expenditure on charitable activities Governance costs 2024 Direct costs Grant funding of activities (see note 61 30,000 Share of support and governance costs (see not& 7 Governance 3,000 33,000 Analysls by fund Unrestricted funds 33,000
SHOWMANROSE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 30 NOVEMBER 2024 Grants payable Gov&rnanc& costs 2024 Grants to institutions.. Seashell Ttusl 30,000 Support costs allocated to activities 2024 2023 Governance costs 3,000 Analysed bglwoen: Governance costs 3,000 Au(Iltor's remuneratlon Fees payable lo the charity's auditor and associates.. 2024 2023 For audit services Independent examination of the financial statements of thè charity 1,000 1,000 Trustees None of the trustees lor any persons connected wth them) ceiVed any remuneration or benefits or reimbursed expenses from the Charity during the year. 10 Employees The average monthly number of employees during the year was". 2024 Number 2023 Number Total There were no employees whose annual remuneration was more than £60,000.
SHOWMANROSE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 30 NOVEMBER 2024 11 Other expenditure Unrestricted Unrestricted funds funds 2024 2023 Financing costs 106 51 12 Gains and losses on investments Unrestricted Unrestricted funds funds 2024 2023 Gainslllossesl arising on.. Revaluation of investments {110,0001 130,0001 13 Taxation The charity is exempt from laxalion on its activities because all ils income is applied for charitable purposes. 14 Fixed asset investments Listed investments Cost or valuation Al 1 December 2023 & 30 November 2024 462,177 Carrying amount AI 30 November 2024 462.177 AI 30 November 2023 462,177 15 Unr9$trl9d funds The unrestricted funds of the charty comprise the unexpended balances of donations and grants which are not subjed to spe¢ifi¢ conditions by donors and grantors as lo how they may be used. These indude designated ftjnds which have been set aside out of unreslricled ftjnds by the trustees for specific purposes. At1 December 2023 Incomlng resources Resour¢e$ expended Galns and losses At30 November 2024 General funds 464,467 292,325 133,1061 1110,0001 613,686
SHOWMANROSE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 30 NOVEMBER 2024 15 Unrestrlcted funds Icontlnuedl Prevlous year: At1 December 2022 Incomlng resources Resources expended Galns and losses At30 November 2023 General funds 146,290 348,228 1511 130,0001 464,467 16 Relatgd party transa¢tlon$ Ultimate Products shares al a cost of £270,000 were donated lo the charity from the trustees during the year. Atrustee of the charity is a director of Ultimate Products PLC. 10-