Charlty rngistration numb•r 1203997 (England and Wales) THE KATE & JUSTIN ROSE FOUNDATION (UK) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD FROM 17 JULY 2023 AND ENDED 31 DECEMBER 2024
THE KATE & JUSTIN ROSE FOUNDATION (UK) LEGAL AND ADMINISTRATIVE INFORMATION Trtte98 Kate Valera Rose- Chair Justtn Peter Rose M8E Pètèr Merton Phillips Brian Vvatson Tara Anond Carter IApOnt¥d 17 Juty 20231 (Appointed 17 July 20231 IApt)ointed 17 July 20231 {Appointed 17 July 20231 (Appointed 5 Octobèr 20231 Charity nufflbor (Eryland and W4les} 1203997 Independent examlner Simon Evan$ FCA L18 Evans Partnership LLP The Oaks 3 Village Road West Kirby Wirral GH48 3JN Banker# Coutts & Co 440 Strand London WC2R OQS Soll¢ltors Hemp50ns LLP Thè Exchange ststion Parade Harrogate HG11DY Accountants Arena Wealth Financtal Management {Golf) Limited Oriel House 26 The Quadrant Richmond 1DL
THE KATE & JUSTIN ROSE FOUNDATION (UK) CONTENTS Page Trustees, report Independent ex8minerfs report Statement of finanaal achVe3 Balance sheet Statement of cash ftows 10 Notes to the finanaal 8tatemenl8
THE KATE & JUSTIN ROSE FOUNDATION (UK) TRUSTEES. REPORT FOR THE PERIOD FROM 17 JULY 2023 AND ENDED 31 DECEMBER 2024 The trustees present their annual report and finanryal Statements for the poriod from 17 July 2023 and and8d 31 December 2024. The finanaal slateTrntg have been prepared in accordance with the accounting policles $91 out in note 1 to the financial statements and ujmply with the charity's conslilution, the Charities AGt 2011 and Accounting ar Reporting by Charittes.. Statement of Recommended PctICe applicable to ¢harities preparing their actounts in accordance with th¢ Finanaal Reporb"ng Standard applicable in the UK and Republic of Ireland {FRS 102)" (effective 1 January 20191. Objectiv•s and a¢tivltles Obi8cts andAims Thts Foundation is a charitab Ineorps)rsted Organisation. and its objaets ar• as follows: the advancement of amateur sport for the public beneffl, parts"1arfY gow, induding by th¢ provi$lon of or assistance in the provision of facilities for partiapation in the sport of gow., forthe public bengfit lo promote education in suth way$ as the charity trustees think fit, indLKling by.. awarding sd)olarship8, mainlenanoe allowances or grants tenable at any univgrsty, collegg tsr institution of higher or fvrther education". awarding maintenance allowances or gr8tits to indivtduals to undertake travel in furtherancE of education or to prepare for entry to arry occupation. trodg or profession on lgavlng any educational e8tsbl1shrTnt-, the prevention or relief of poverty by providing.. grants. items arKI seNi¢e$ to individuals in need andlor eharities, or other organisations working to prnvenl or relieve poverty.. 8nd the relief of si(ness and the preservation of health for the public benefit induding by: promoting good nutrition," and making gnts lo d)arities or other organisations working lo relieve sid¢ne88 or to advan¢e heahh. The objective of th& Foundation is to provide opportunities IOT as many thildren and young people as possible to participate in and engage with golf. We ¥¢ek to provide more opportunrties for accessing and maximising partIpatIon in golf. Our focus is on using the sport to engagè with and supwt dTrsadvantaged children and young pts08. PubliG benerrt The Trustees have pabd due regard to guldance Issued by Ihe Charfty Commission In derAding what adiviti¢$ the charity Shoulcl undertake. Aclivitses achieve our alms and objectives in a v¥rioty of ways,. initialty. the Foundab"on will be supporting key existing inthatives and projects within golf arKI education primarily. These will indude parlnering with other organi8ats"ons, community groups, an¢J initiatives already wtsiking to achieve Similar goals. In addibon, we will provide grants to and existing PTogfamme¥ that aim to break down baniers to entry in the world of goff through a range of activthe8. faulities. coaching, and playing opportunities for children and young ople.
THE KATE & JUSTIN ROSE FOUNDATION (UK) TRUSTEES, REPORT (CONTINUED) FOR THE PERIOD FROM 17 JULY 2023 AND ENDED 31 DECEM8ER 2024 Grant making policy The Trusle8s ar8 k8en to support actiwties that advance the objects in an ellective way. Howevar, they recognvze that a limrted amount of funds are available to distribute each year, therefore, the Current funding priorities a.. the advancement of amateur sport, particularfy the $FX)rt of golf., the advaneement of edueation primarily by making grants., and the relief of povety by making grants., and the advancement of health primarily by promoting good nutrition ar¥J making grants to ChareS reglstered in England and Wales sh as Cancer Re3earch. The Trustees may also awarcf grants that fall OLtside the piiorilies $lated in tl Grartl Making policy, provided they are sats'sfied that the grant will further the Objects and is an appropriate use of the Foundation's funds. The Trustees welcome pfoposals that support their funding prioritie5 from organisation8 and indiwdual$. Grants can be used ether to cover costs that a dlrecty connected lo carrying out the charitable activit¢es that the trustees have agreed to fund. The Tru$lee¥ will award giants lo fund up to 100% of the cxjsl of a proposal. However, the Trustees.. will consider lunding part of th• tsjst of 8 proposal whoro th8 total c£sst Is shar8d with on• or mor other funder8.' and eno)urage applicants to seek addittonal sources olfunding for their proposal. If a grant covers part of the cost of a proposal, the Trustees may requite the applicant to provide dotails of the other ftJndèr(sl and the ftjnding that Ihay hava socJJr8d or applied for (Induding any loans or olh8r commerual fijnding). A¢hlov8mants and pgrfornian SAgnMlcant 8rtlvttles and achlevements agalnst otJJ8ctfv8s The Foundation currently suppcrts a number of projects iTrline with the objective3. these indud8 th? following grants awarded in the perfod.. Project 250: Golf forAII In partnership wth the European Disabled GOW Assouation ('EDGA'I, Projoct 250 wdl introduce 250 thildren and young adults with disabilities lo golf. Launched in Coventy in January 2025. the pilol promotes indusivity through tailorÈd coaching, led by Johnny Re8y and L6ah Roalich from EDGA. Supported by KJRF funding. the aims of the programme are lo progre35 from $¢hOoV[MynIty-baSQd s¢ssions lo dL¢b integration, paving the way for a national rollout. Th8 first grant agreement was agreed and the grant made lo EDGA in Nov8mb8r 2024. From Fabruary 2025- May 202S, 4 schools have taken part in a &week programme which includes fvKS in house training $ession$ to educate staff and enable them lo continue lo provide the sessions going forward. Each school, has received Soft Golf kits IGoNFay) for thè ongoing s80n$ which have been introduced as wt of the (xJrri¢ulum. Pupils havè tak8n part in the weekly sessions. culminatino in a final session invoknng all partidpants in a D3 compeliknon at Stoneleigh Goll Club. To date, 28 sessions have been delire. 20 tgacher? l TA'S have been trained and 99 pupi18 have taken part in the ses&ons. Challeroe5 during the initial pilot project have been,. implementatson of sessions in a busy h0o1 schedule. this was overcomè once the gesgions had been delivered because the enloyment and benèfits gained from the sessions have meant that the schools have now induded thè sessiC$ as part of the PE and Enrichment curriculum. Anothèr challenge was indement weather affecing facilty delNery in thi$ period, but this was overcome by the team delivering in house D3 training al schools.
THE KATE & JUSTIN ROSE FOUNDATION (UK) TRUSTEES. REPORT (CONTINUED) FOR THE PERIOD FROM 17 JULY2023 AND ENDED 31 DECEMBER 2024 Once the 6 week programme has been completed, the objectlve is that staff and team al the school will then continue with the woekly session8 as part of the curriculum. Ih8y will be able to run these sessions independently and have autonomy for the delivéry r)f thésè sassions. Support from the EDGA team will rèmain in Pla regarding th• implementation of the sessi13, bul also via the creation of 8 pathway with Johnny Reay and Slonèleigh Gdf Club for those who wish to (x>nlinue theirjoumey 8nd have the opportunty to play at a goW club. Fdlowng the succe$$ of the pilot schemo lo date, Mting8 are taking place to deliver the project in new areas I regions induding.. BeWast, Glasgow, Leeds, Bimiingham and Wal88. This roN out 11 take ate from September 2025. Factors affeGting the achievemenl of the obJe¢tives The Foundation achieves the main obleth"ve8 through the provision of grants lo the selected charth.es I projeGts I programmes. The Trustees select the charities I projects for thèse grants based on the alignment with the Foundth'on's objectwes. The selected thafrties I projects are sponSible for thè management of the graftt to delivèr th• projtet and provide quarterfy reports on the progre$$ and the finanaal m8na9ement of the grant. Tho warding of the grants is decided by the Trustees at the quarterty m&etings in which aach charity I project is assessed in relation lo the strategic objectives, wm8 and a¢hievement$ so as to ensure those charrtie8 1 projects awarded th grants are those that will assist the Foundation in achieving the overall obje¢tives. Fundraising pr8¢ti The Trustees have strategic oversight of Ihe Foun¢Jation's approach to fundraising, there are 2 mwn fiJAdraising events for the FouThJation, these are the Horan & Rose fundraising dinner and auction Èvening and the Kate & Justbn Rose Foundation Golf day. These are biennial events, alternating to ensure that a fundraising event tskes place annually for the Foundation. To monf(or pr¢)ce8s and Progress. relevant infomiation on the fundraising and finance is mad¥ availabl& to the Trustees on a regular atK1 rouline basis at the quarterty m88tings. The Trustees regularly review and provide guidance on what should be considered in relation to the Foundation'$ aeptan of addrtional funrts I donations from oth8r arnas outside of the 2 official fvndraising events. Funtknisingpgrfom7ancg The 2 main fundrniyng events for the Foundalion are the Horan & Rose Event and the KJRF Golf Day. The Horan & Rose event took place in November 2023 Wbth the funds raised during that event being the main income for the current projects in thi3 accounting period. The KJRF Golf Day took place in Ortober 2024 and th8 next Horan & Rose event ¥MII tske in October 2025. No other fundraising activrtios took place in thè UK during thls accounttng riod. Flnancial revlew The Foundation's work L8 ents"re reliant fvndraisThJ a¢tivibes and Ihlrd-party donatlorss. These activities provlded income of £645,000 and £39.000 (excluding one-off donation from an affiliated US Fouftdationl $pectively. Factcfs which may affect these ft¢ndraising a1V.e$ are primarily thè ability to undertake suitable fund¥ai$ing activities which attract donor8 and force majeure events 1¢h may impa¢l those ftjndraising activities. The Foundation's expenditijre, aside from fom*tion costs, primarily relate¥ direetly to fundrain9 activitlos. professional fees and insuran. ExperKliture outside of thesg areas is minimal. ReseeS poliGy The Trustees do not have a formal reserves policy at this lime. The Foundaion wll Lrtilise reserves lo providè grant funding to ¢hanties and projects that are in alignment with th¢ Foundation's objectives, and lo covar fundraising and operational ¢0$18. The totsl reserves of the FoUndats. wgre £851,565 at the end ofthe period.
THE KATE & JUSTIN ROSE FOUNDATION (UK) TRUSTEES, REPORT (CONTINUED) FOR THE PERIOD FROM 17 JULY2023 AND ENDED 31 DECEMBER 2024 InBIantpo1jcY Al this time. the Foundation has thosen not to invest surplus fijnds in thè finaneAal markets, thoosing lo actively hold ca5h-ba&ed produGts to provide predictable retums and capital protection. The Trustees consider thi¥ strate9y to be low Tlsk. Plans for future periody Th8 Foundation currently supports a nUMr of proiacts in-line wth the objectives, these indude the followng grants awarded followng the period end: Sport forAII: Koalaa Golf Tool In partnership wth Sport for All UK Foundaon CIO, KJRF is introducing to children with upper body limb diffarancag across tha UK. The programme will provide acces9 to free Koalaa prosthettcs ar adaptive golf tools along with expert coach education. th rsine'Try Gdf. days in year one and ongoing golf 8e8sion8 It will empower ovol 100 ¢hildron annualty, fostsrin9 eonfid#nc•, inclusion, and access to the game of goW. The first gt agreement wa8 agreed and the grant made to Sports forAII UK In February 2025. Sport for All UK Foundation CIO have b8en worknng Koalaa to identfy locations for the Try Goff days, Inilal locations indude.. London Leeds . Glasgow Binningham Bewasl M8nche$tsr . Newc2Stle Bristol I Swindon Norwich The first event took pla in GlasgtJW at the Gtsif IT venue en 26th April. th18 wa8 8 co8d) education 8898ion and Try Golf day. To date. S children thgt tr)ok part in the event on 26th April have r1Ved a Koalaa Golf tool and all have shown intr•st In the follow up group coaching. 3 of the children were new Koalaa u8er8 so were fitted for th8if first prosthetics- 2 reI¥¢d an ALX aleeve Ibelow elbow) and the Other a protype of an above elbow sleeve. ChalleThJe$ have been, ascertaining exactly what equipment th8 prc¥ect needs at eath location. Additionally, the smaller numbers in Ihe first project mean that the foffnat of the programme works well for these smaller groups, bLrt itwill need to be adapted for18rger numbers in the future. Th¥ current project funding allows for 3 locab'ons per year, as above delivery has already tsken place in Glasgow other sessions planned for London {SurreylBerk$hire borders) and Leeds. Going foard, Sport for All UK Foundation have al80 identified an opptsrtunity to run a project in Belfast from ¥umm¢r 2025. They have connetled bmth a phyaio and o)mmunity golf inetruGtor whg h¥ linka Yrfith limb difftsrence groups in the city. Essendon 24: Knightsflold Sehool, Harts KJRF and Essendon Country Club are bringing golf to he8rinimpaired students from Knightsfield School. Starting th 24 particApants, the programme offers tsilored aching, on-o)urse experiences. and indusive support. Wth KJRF funding for 2025, rt aims lo expand, fostering a welcx)ming golf community more students. The first grant 8grewn8nt was agregd in May 202S.
THE KATE & JUSTIN ROSE FOUNDATION (UK) TRUSTEES. REPORT (CONTINUED) FOR THE PERIOD FROM 17 JULY 2023 AND ENDED 31 DECEMBER 2024 we9Y sessions are hosted at Essendon CC. th¢$9 started in April 2025 and will run until July 2025 to coinGde with the school ternis. During this lime, 14 sessions have been delivered to around 45 pupils. the ages of the chlldren range from 12-16 years old. The sessions have frjcused on sh¢)rt game, the golf raThJe and the Par 3 course as per the session plans. Key thall8ng8s facod during this initial pariod hav8 bean timings from th¢ school, iwl Essendon CC have adapted their diaries ard131Y to facililale these changes. Gging forward, E58endon CC will update and develop the existing prc¥Jramme alongside the Knightsfreld teachers to enable growih and progression for the pupils. Additionally. Es$&ndon CC are also aiming to expand the programme to another school in the local 8re8 too. strueture. govemance and managgm•nt The chanty is a Charitsble Incorporated Organisation f CIO,) and the govemin9 dowment is 11$ constitution. The charity wa3 registered wth the Charty Commission on 17 July 2023. The Tru3tees who served during the period from 17 July 2023 and ertded 31 D¥eembYtr 2024 and up to the dale of signature of the finanryal statements were.. Kate Valera Rose- Chair Justin Peter Rose MBE Peter Merton Phillips Brian Watson TaraAnand Cartgr (Appointed 17 July 20231 (Appointed 17 July 20231 (Appointed 17 July 20231 (Appointed 17 July 20231 (Appointed S October 2023) None ofthe Trustees has any b8neficial interest in the CIO, and all of thè Trustees are mbS of the CIO. Subject lo the payment of all the CIO'S debts.. Any rèsolution for the wnding up of thg CIO. or for the dissolution of the CIO wthout winding up, may contain a provision directing how any remaining assets of the CIO shall be applied. If the re8olulion does not contain sud) a provision. the d)arty Tru$t¢es must derAde how any remaining assets of the CIO shall be applied. In either case the remaining assets must be applied for charitable purposes the same as or similar to those ofthe CIO. Organisalional S1Cture Th8 Foundation is nRde up of the Chair, Secretsry and 3 other Tru8tses, there are no empbyees. The day lo day adminislralion of grants, monitoring and management of the projects, handling of appli¢ali¢)ns and fvlfilment of th¥ grant delivery is undertaken by staff from Rose as Grant Manager and Administrator. The majority of the Trustees werg all appointed al the inception of the Foundatton. with 1 additional trustee being appt>inted shortty afterwards. New Trustees are appointed by existing Trustees seNe for 3 years after which they may put themselves foThvard for re4ppointment. The o)nstitution allows for a minimum of 3 Trust$. At the quarterfy Trustee meetings, the Trustee8 agree the broad strategy and areas of activty for the Foundation. This indudes consideralon of grant maklng. Investments. pert0rrnan reviews, policiès, risk management and due digere. New Trustees are recruited from a variety of key areas to ensure a breadth of skills, knowledge and experience thin the Boarrl. The t%de of conduct exists for Trustees to foll¢)w and agree to for consistency in behaviour and practice across the board of Trustees. The ultimate derAsion on selection of new Trustees is a rnatter for the Tr(tstees. All Trustees give their time freely and no trustee remuneration is paid. Trustees are required lo dis¢lo$e all relevant interests and register them, where a conflict of interest arises, the Trustee must withdraw from these deusion$.
THE KATE & JUSTIN ROSE FOUNDATION (UK) TRUSTEES. REPORT (CONTINUED) FOR THE PERIOD FROM 17 JULY 2023 AND ENDED 31 DECEMBER 2024 Thet stee$, re[rtW80 8ppmv8d by th• Bwd ofTrU9ta. Pet8r Merton Phillip3 Trusts•
THE KATE & JUSTIN ROSE FOUNDATION (UK) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE KATE & JUSTIN ROSE FOUNDATION (UK) I report to the trustees on my examination of the financial stslements of The Kale & Justin Rose Foundatlon IUKI (the chJityl for the period from 17 July 2023 and ended 31 December 2024. Responsibiliti88 and basis of report As the trustees of the clrity you are re8pon¥ble for the preparation of the financAal ststemènts in acc£srdance the requirements of the Charitse$A 2011. I report in r8SP8Ct of my examinati< of the charty's financgal statements csrried out urmlèr sedion 145 of the Charitie$ Act 2011. In carrying out my examination I have followed thg Directions gIn by the Charity Commission undor $s¢ti¢)n 145IS)Ibl of the ChariliesAct 2011. Ind8p•nd8nt gxamingrfs staternent Since the charity's gross income exceeded £250,000, the independent examiner musl be a member of 8 body list in seetion 145 of the Charities Act 2011. 1 confirm Ihat l am qualified to unttertake the examination beU$¢ l am a member of the Inslrtute of Chartered Accountsnts in En9land and Vvales I'ICAEW}, whi¢h is one of the listed bodies. Your attention 1$ drawn to the fact that the charity has prepared the finanoal sta18m?nls in accordance with the relevant version of the Statement of ReCmmended Practice applicable to c*arities preparing their finanrAal statements in accordance wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Repgrting by Charities." Statement of Recommended Practi issued on 1 April 2005 which is referred lo in the extant regulat.ons but has now been withdrawn. l understand that this has been done in order for the financial ststements to provide a true and fair view in accordance with UK Generally Awted ACcntIng Practice. I have mpleted my examinatrjn. I confimi that no tnatters have come to my attention in connection wfth the examination giving me cause lo believe that in any material reSpt accounting records were not kapt in rasp8Ct of the charity as wuired by section 130 of the Cttarities Act 2011. the financial 8ts1ements do not a0rd wilh those record8', OT the financial statements do not C4Jmply with the 8pplicable requirements ConmIng the fom) and content of finanoal statements sel out in the Chartbes (Accounts and Reports) Regulations 2008 ether than any r8quirement that the finanual statements glve a true and fair view. véhich is not a matter considered as part of an independent examination. I have no concems and have rnme acro&8 no other matters In connertlon with the examination to which attention should be drawn in this report in order to enable a proper undeistsnding oflhe finala1 ststements lo be re8¢hèd. Simon Evans FCA Lewis Evans Partnership LLP The Oaks 3 Village Road West lQrby Wirral CH48 3JN Date.. 2015
THE KATE & JUSTIN ROSE FOUNDATION (UK) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD FROM 17 JULY2023 AND ENDED 31 DECEMBER 2024 Unrn8tri¢ted funds 2024 Ineoma and ondowmonts from.. Donations and legaryes Other trading activities Investments other income 309,881 645,406 9,881 2,350 Total income 967,518 Expenditur• on: Raising fund5 CharFlable activities 55,359 60,594 Total expenditure 115,953 Not Income ond movoment in funds 851,565 Roconciliation of funds: Fund balances at 17 July 2023 Fund balan¢a8 at 31 December 2024 851,565 The statement of financAal activitie5 ifKlude3 all gains and lo$se$ recognised in the period from 17 Juty 2023 and ended 31 December 2024. All in¢x)me and expenditvre derive trom ¢)Jntinuing activities.
THE KATE & JUSTIN ROSE FOUNDATION (UK) BALANCE SHEET AS AT 31 DECEAIBER 2024 2024 Curr•nt a$¥ots Debtors Cash at bank and In hd 14 88,496 772,130 8eo.626 19.0611 Crèdltorn: •mouni• f•lllng wlthln on• y••r 15 Net currntht u••ts 851,585 Th• fund# ofthè tharlty Unr68trfcted fund¥ 16 851,565 851,565 ts wgr8 appmd by the trustees on.... te Valera Rose- Chalr TTU•toe
THE KATE & JUSTIN ROSE FOUNDATION (UK) STATEMENT OF CASH FLOWS FOR THE PERIOD FROM 17 JULY2023 AND ENDED 31 DECEMBER 2024 2024 Not99 Cash flo from operatlng actlvlljes Cash generated fromllabsorbed by) c¥)erat¥)ns 19 762,249 Investlng artiviiitrs Investm1 income ¥eceivwJ 9,881 Not cash generated fromlluged In) Invo8tlng a¢tl¥ltl06 9,881 Ngt cash us•d In financing aelivltl•s Nol In¢rease In cash and cash oqulvalents 772,130 Cash and cash equivalents at beginni[ of wod- 17 Juty 2023 Gash and cash oquival8nts at ond of the period- 31 DsGember 2024 772,130 10-
THE KATE & JUSTIN ROSE FOUNDATION (UK) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD FROM 17 JULY2023 AND ENDED 31 DECEMBER 2024 Accountlng poll¢lg8 ¢harlty inft>rrnation The Kate & Justin Rose Fotjndation {UK) is a Charitab18 Incorporated Organisalion I'CIO'I, registered with the Charity Commi38ion. The registered address is Oriel House, 26 The Quadrant, Richmond Twa 1DL. 1.1 Roporting period These finanaal statements cover the period from the challtys registration on 17 July 2023 to th• poriod end on 31 December 2024. 1.2 Accounting convention The finanGial statements have been prepared in accordance wth the eharity'3 goveming docLJment. the Charith"es Act 2011, FRS Yhe Finanu81 Fleporting Standard appli{ble in the UK and Republic of Ireland" and the chare$ SORP 'Accounting and Repo"ng by Charities.. Statement of Recommended Practice Applicab to charities preparlng thèir accounts in attordance with the Financial Reporting Stsndard applie8ble in the UK and RepublÈc of Irèl8nd IFRS 1021" The dBrity is a Public Benefit Entity as defin&d by FRS 102. The ffinanclal stslements have departed from the Charities (Accounts and RepDrtsl Regulations 2008 only to th¥ &xt¥nt required lo provide a true and fair view. This departure has involved following the Slatement of Recommended PtiCe for charities applying FRS 102 rather than the version of the Statefft8nl of Recommended Practlce which is referred to in Ihe Regulations but whith has since teen wthdrawn. The financial statements prepared in sterting, whith is the functional cuThency of the charity. Menetsry
m()unls in th8so finanaal statements are roundad to the nearest £.
The finanaal statements have been prepargd ur¥Jer the historical cost COnnI10n. The princip81 a(UntIN p0ce8 a(lopted are sel out below. 13 Going concern the lime of approving the fin8n¢ial statet7Mts, the trustees have a Teasonable expectslion that the chority has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going o)ncÉm b8818 of accjnIing in preparing thg financlal statements. 1A Charltablo fvnds Unrestricted ftJnd$ are avallable for use al th8 di¥cretion of the trustees in fvrtherance of their charitaljle objectives. Restricted fvrvjs are suble¢t to specffic condtbon$ by donors or grantors as lo how they may be used. The purposes and uses of the restricted fvnds are set out in the notes to the fin8naal statements. ErKlobvment funds are 8ubjefyt to specific o)ndilion¥ by donors that the Capkal must be maintainod by the tharty. l.S In¢¢me Income IS Tec4)gnised when the charty is legalty entitled to rt after any performan¢e condltions have b¢on met, the amourts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. other donations are recognised once the tharity has been notified of the donation, unless perfomiance condition5 qUi defeal of the amount. InGome tax recoverabl¢ in relab.on to donations received under Gift or deeds of c4)venant is recognised at the time of tho donation. 11
THE KATE & JUSTIN ROSE FOUNDATION (UK) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE PERIOD FROM 17 JULY 2023 AND ENDED 31 DECEMBER 2024 A¢¢ounting policies {Contlnued) Legacies are r8cogni$ed on reIpt or otherwise if the ¢harity has been nth'fRd of an imponding distribLrtton, thè amount is known, and receipt is experted. If the amount is not knovm, Ihe legacy is treated a8 a contingent asset. 1.6 Expenditure Expenditurg 1$ ro¢ognis•d onc• thère is a legal or constructive obligab.on to transfer economic tser to 8 third party, it is probable that a transfer of economic benefft8 wll be Tequired in $¢tUement, and the amount of the obligation can be measured reliably. Expenditure 1$ d8gsffi8d by activty. The costs of ead) 8dvlly are madè up of the total of dire¢t eosts and shared costs, induding Support ¢osts involved in undertaking each activty. Direct ¢osts attributable to a single activity are allo¢td ¢Jirectly to that activity. Shared costs which contribute to more than one adivity and support costs which are not attributsble to a single activity are apportioned between knose activities on a basls consistent with the u88 of resourr£s. Central staff costs are allocted on the bas1$ of time spenl, and depr8oation charges are allocated on the porbon of thè a55et's use. 1.7 Cash and cash equivalont$ Cash and cash equivalents indude ra3h in hand, deposits held at call wlh banks, othor sh¢)rt-t8rm liquid Investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown wrthin borrowsngs in currfjnl liabilities. 1.8 Flnan¢lal instruments The Charity has eleded to apply the provisions of Secbon 11 'Basic Finandal Instruments. and Section 12 'Othèr Financial Instruments Issues, of FRS 102 to all of its finarla1 instruments. Flnandal Instruments are recogni8ed in th¥ charivs balance sheet v4hgn th8 ¢h8rity b8comes party lo the ntraciual provisions of the instrument. Financial assets and liabile$ are offset. with the nel amounts presènted in the financial statements, when there is a legally enforoeable right lo $el off the recognised amounts and there is an intention to Sgtufy on a net baS orto realise the asset and settb the liabilrty simurtaneously. 88sic finan¢ial assèts Bas4c financial assets, which indude debtors and eash and bank balances, are inilialty measured at transaction pricè induding transaction eosls and are subsgquanlly carried at amrtised cost using the effective interest mathod unless the arrangernènt eonstitutès a financing tran$adion, whère the transaction 1$ measured at the present value of the fvture raceipts diseount•d at a market rate of interest. FinancAal assfyts da3$ified as receivable wf(hin one year are not amorti¥¢d. 8asle financial liabilitios Basic financial liabilities, induding creditors afid bank loans are initially re¢cwi8ed at tran99Ction price unless the arrangement constitutes a financAng tran8acon. where the debt instrument is measured at the present value of the future payments dis¢ount8d at a market rate of int¢r$$t. FinancAal liabilities d8$$rfiéd as payable within one year are not amorti3ed. Dgbt in$lrum8nts are subsequenuy carried at amortised cosL using thè effective intemt rate method. Trade creditor3 are obligations to pay for goods OT sèThieas that have been ?cquirèd in th8 ordinary course ol operations from $upplier3. AmoL¢nts payable are dafIed a? rrttnt liabiliti'es if payment is due wthin one year or less. If not. they are presented as non-cuffent liabilitie Trade creditgrs ar• racognised initially * transaction pri¢9 and SLsb5equently mtrawred at amorb'sed cxjst using the effeth.ve interest method. 12-
THE KATE & JUSTIN ROSE FOUNDATION (UK) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD FROM 17 JULY2023 AND ENDED 31 DECEMBER 2024 Accounting policies IContsnu•dl Derecognition of financial liabilfties Financial liatxlities are derec(yJni8eil when the ¢aty's CLJntradual obligab.ons expire or are distharged or cancelled. IoM0 from donations and18gaci&s unre81cted funds 2024 Donations and gifts Donated goods and services 284,881 25.000 309,881 Donations and gifts indLKte £246,302 ceIVed from The Kate & Justsn Rosè Foundation IUSI, an affiliated US charity. Donatèd goods and servitss of £25,000 is the èsts"med value of staff and director ts.me donated free of charge from Rose Goll Limited. In g6rordanGg with cOUntIng fequbrements, an equivalent amount is r6wnlsed In expendrture. Income from other trading activitigs Unrnstrict•d fund8 2024 Fundraising gvents 845,408 In¢om• from Investments Unrestricted funds 2024 InItrst re¢gÈvable 9.861 13-
THE KATE & JUSTIN ROSE FOUNDATION (UK) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE PERIOD FROM 17 JULY2023 AND ENDED 31 DECEMBER 2024 Other Income Unrnstrlcted funds 2024 Other inry)me 2,350 ExndItr* on ralsing funds Unr•$trlcted fund$ 2024 Fundraising and wblicity Staging fundraising events Advertising Other fundTai8ing u)8ts Idon8ted} Support oJsts 51,167 1,200 2,000 992 55,359 Expgnditurg On Gharilablk a¢vItIeS Charitabl expenditum 2024 Olroct costs Grant fundlng of actlvities (see note 8) 8,400 Shara of Support and governance costs Isee note 91 Support G¢vernanc& 24,584 27,610 60,594 Analy81s by fvnd Unrastiictad frJnds 60.594 14-
THE KATE & JUSTIN ROSE FOUNDATION (UK) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE PERIOD FROM 17 JULY2023 AND ENDED 31 DECEMBER 2024 Grants payablo Ch¢rftAblè expendlture 2024 Grants lo inslithtions: European Disatled Gow A$srKiation'. Golf forAJI first grant David Yarrow Family Foundation 3,450 4.950 8.400 Support ¢¢)sts all¢)¢atsd to activltlos 2024 Tiavel and sub815tence Iruranee Postage and delivery costs Bank fees Administrative Ix>$ts (donated) &)vernan¢¥ costs 756 150 825 23,000 27.610 53,186 Analysed betwn: Fundraising Charitable expendrture 992 52.194 53,186 10 Ngt mov•ment in fvnds 2024 The net movement in fvnds is stslgj after thargingllttedrting).. Fees payable for the independent exninatIon of the Gharivs finanrAal statements 3,000 11 Trusts95 None of th¢ trustees lor any persons connected with them) received any remuneration or bontyfts from thè eharfty durfng the pemod from 17 Juty 2023 and ended 31 Derember 2024. )ere trustees spend time on Charitab actiVe8 on a voluntsry basis thi818 not accounted for in the Charity a¢unts. 15-
THE KATE & JUSTIN ROSE FOUNDATION (UK) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD FROM 17 JULY 2023 AND ENDED 31 DECEMBER 2024 12 Employao8 The average monthly number of omploye8s during the Feriod from 17 Juty 2023 and ended 31 December 2024 was.. 2024 Number Total There woro no èmployees whose annual remuneration was more than £60,000. 13 Taxation Thg Gharity 1$ gX¥mPtfrom taxation on lis activitie$ because all it8 income is applied for charitable PUTP¢)6es. 14 Debtorn 2024 Amounts falllng due wlthln ong year: Prepayments and awued income 88.496 15 Credltors: amounts falllng due wlthln ono year 2024 Accnjals and d8feTf8d incom 9,061 16 Unmtricted funds The unre$lricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specffiG nditirS by donors and grantors as to how they may be used. These indude designated funds whith have been set 8$ide out of unA8tr1Ct fijnds by trustees for speafic purposes. At 17 July 2023 Incoming re$ouf Resour¢os expgndod At31 December 2024 General fvnd3 967,518 {115,9531 851,565 17 Events after thb rnportlng date Subsequent to the year-end. grant agreements have been agreed wlth Sport for All for the Koalaa Goff Tool projeGI, and also lor the Ess¢ndon 24 Kni9hlsfidd Sthool project. The total expethd fin8nc4al commitment on these grants in ftjtsjre pèric*Js is £76.770. 18 Relatod paity transactions Th•r• •r• no fijrthér ralatad PAty trAeana io di8do88. 18-
THE KATE & JUSTIN ROSE FOUNDATION (UK) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD FROM 17 JULY2023 AND ENDED 31 DECEMBER 2024 19 Cash genefated from op•rallon$ 2024 Surplus for the period from 17 Juty 2023 10 31 Dtrcember 2024 851,585 Adjustments for. Investment irwne recognised in staternent of financial activities 19,8811 Movements In womng ¢XPital.' Ilncreasel in debltsrs Increase in creditors (88.4961 9,061 Cash g•n•rat¢d fromll4bsorbod by) operatlons 762,249 20 Analy819 of change8 In net fUnd(debt) Thè ¢h¥rity had no material debt during the year. 17-