## **A. QUINN, N. GAYNER, MRS J. BAILEY , AND MISS C. STERNSHINE TRUSTEES OF THE ROSCA TRUST**
## **ACCOUNTS**
## **31ST MARCH 2026**
**CHARITY NO. 259907**
**THE ROSCA TRUST**
**CHARITY INFORMATION**
|TRUSTEES|Mr. N. Gayner|
|---|---|
||Mr. A. Quinn|
||Miss. C. Sternshine|
||Mrs. J. Bailey|
|CHARITY NUMBER|259907|
|PRINCIPAL OFFICE|1 Moat End|
||Thorpe Bay|
||Southend on Sea|
||Essex SS1 3QA|
|INDEPENDENT EXAMINER|Azets|
||7-8 Britannia Business Park|
||Comet Way|
||Southend-on-Sea|
||Essex SS2 6GE|
|BANKERS|Barclays Business Centre|
||127 High Street|
||Southend-on-Sea|
||Essex SS1 1LH|
|SOLICITORS|Drysdales|
||Cumberland House|
||24-28 Baxter Avenue|
||Southend on Sea|
||Essex SS2 6HZ|
|INVESTMENT ADVISERS|Rathbone Investments Management Limited|
||1 Curzon Street|
||London W1J 5FB|
**N. GAYNER, A. QUINN, MISS C. STERNSHINE AND MRS J. BAILEY TRUSTEES OF THE ROSCA TRUST**
1
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF THE ACCOUNTS ON THE ROSCA TRUST**
We report to the charity trustees on our examination of the accounts of the charity for the year ended 31st March 2026 which are set out on pages 4 to 7.
## RESPONSIBILITIES AND BASIS OF REPORT
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act")
We report in respect of our examination of the charity's accounts carried out under section 145 of the Act and in carrying out our examination we have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## INDEPENDENT EXAMINER'S STATEMENT
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
We understand that this has been done in order for financial statement to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
We have completed our examination. We confirm that no matters have come to our attention in connection with the examination giving us any cause to believe that in an material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a "true and fair view" which is not a matter considered as part of an independent examination.
We have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
7-8 Britannia Business Park Azets Comet Way Southend-on-Sea Essex SS2 6GE
10th June 2026
**THE ROSCA TRUST ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2026**
2
## **Structure, Governance and Management**
The Rosca Trust is constituted by Deed of Trust dated 29th March 1966 and is a registered charity No. 259907. Its address is 1 Moat End, Thorpe Bay, Southend on Sea, Essex SS1 3QA. The charity trustees during the year to 31st March 2026 were:
Mr Nigel Gayner Mr Anthony Quinn Miss Christine Sternshine Mrs Judith Bailey
New trustees are appointed by the board of trustees for no fixed terms of office.
## **Objects**
The object of the charity as set out in the Trust Deed dated 29th March 1966 is "to pay or apply the capital and income of the Trust Fund to such charities or for such charitable purposes and in such proportions in such manner and subject to such terms and conditions as the Trustees may at their uncontrolled discretion determine having regard so far as possible to any directions given or wishes expressed by the settlor to the Trustees". The settlor was William Oscar Thorby who died in 1971. In accordance with his known wishes, the Trust has supported voluntary welfare organisations who have recognised charitable status in South East Essex and, in particular, those helping the young, underprivileged, disabled, sick elderly, and community associations providing facilities for the community use and benefit. Support is given by way of financial grants. The charity is dependent on rental income and investment income to fund the grants made.
The Trustees have continued to meet three times a year and the trustees agree the broad strategy and areas of activity for the trust, including consideration of grant making, investments, reserves and risk management policies.
## **Review of Property Investments**
The Trustees have continued to monitor closely their property investments, particularly with a view to avoiding the build-up of rent arrears. But the trustees were pleased that their property portfolio continues to experience only a low level of voids.
## **Risk Assessment**
The Trustees have reviewed their risk assessment. The Trust's activities continue to bear little risk, particularly as the Trust has no employees, does not arrange fund-raising events and does not rely on donors or benefactors. It does, however, face market risks to its income and capital from financial and property investments. Although these risks are mitigated by the use of professional advisors, the Trustees continue to monitor closely every aspect of their investments.
The Trust has reserves in order that any unforeseen loss of income from property lettings or unexpected increased in spending on property maintenance can be met without excessive disruption to the flow of grants.
**THE ROSCA TRUST ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2026 continued**
3
The Trust has continued to make grants to previous and new applicants. With a high rate of property occupation and rental income together with a steady flow for financial investments, the Trust has not usually been constrained in meeting requests for financial support although at times it has faced increased demand as financial support for local charities from local authorities has been reduced.
## **Trustees responsibilities in relation to financial statements**
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
1. select suitable accounting policies and then apply them consistently;
2. observe the methods and principles in the Charities SORP 2015 (FRS 102);
3. make judgements and estimates that are reasonable and prudent;
4. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statement;
5. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Bankers:**
Barclays Bank Plc 127 High Street Southend on Sea Essex SS1 1LH
## **Solicitors:**
Drysdales Cumberland House 24-28 Baxter Avenue Southend on Sea Essex SS2 6HZ
## **Investment Advisors:**
Rathbone Investments Management Limited 1 Curzon Street London W1J 5FB
## **Independent Examiner:**
Azets 7-8 Britannia Business Park Comet Way Southend on Sea Essex SS2 6GE ........................................................................TRUSTEE 10th June 2026 On behalf of the Board of Trustees
**N. GAYNER, A. QUINN, MISS C. STERNSHINE AND MRS J. BAILEY TRUSTEES OF THE ROSCA TRUST**
4
|**STATEMENT OF FINANCIAL ACTIVITIES**
**FOR THE YEAR ENDED 31ST MARCH 2026**
Note
INCOMING RESOURCES
Rents receivable
Bank deposit interest
Dividend income
Untaxed interest
Charitable Donations
Bank compensation
TOTAL INCOMING RESOURCES
EXPENDITURE
DIRECT CHARITABLE EXPENDITURE
Charitable contributions
FUND-RAISING COSTS
Arrears written off
Property expenses:
Council tax
Insurance
Repairs
Agents' commission
Professional fees
Investment advisors management fees
MANAGEMENT AND ADMINISTRATION OF THE CHARITY
Secretarial expenses
Accountancy charges
Website
Bank Charges
Professional fees
TOTAL EXPENDITURE
NET INCOMING RESOURCES
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD|Income funds
General Purposes
2026
£
172,459.24
121.85
16,914.22
-
-
-
189,495.31
147,260.00
-
2,220.00
7,837.57
9,928.50
13,356.67
-
3,879.34
37,222.08
1,500.00
2,400.00
95.99
102.00
2,885.00
6,982.99
191,465.07
(1,969.76)
(20,469.48)
(22,439.24)|2025
£
162,034.76
134.59
19,649.82
-
-
-|
|---|---|---|
|||181,819.17|
|||161,695.00|
|||-
(30.66)
7,774.02
9,900.06
13,399.38
-
3,854.45|
|||34,897.25|
|||1,500.00
2,490.00
152.38
102.00
140.00
-|
|||4,384.38|
|||200,976.63|
|||(19,157.46)
(1,312.02)|
|||(20,469.48)|
The notes on pages 6 and 7 form part of the accounts.
5
## **N. GAYNER, A. QUINN, MISS C. STERNSHINE AND MRS J. BAILEY TRUSTEES OF THE ROSCA TRUST**
|**BALANCE SHEET**
2026
**AS AT 31ST MARCH 2026**
Note
£
£
FIXED ASSETS
Freehold property
2
228,403.45
Investments
3
503,500.94
731,904.39
CURRENT ASSETS
Cash at bank:
Deposit accounts
10,154.87
Current account
17,709.35
Due from agents
28,404.88
Stockbrokers account
5,245.90
Sundry prepayment
7,350.58
Rent arrears
8,636.11
77,501.69
CURRENT LIABILITIES
Sundry creditors
2,400.00
NET CURRENT ASSETS
75,101.69
NET ASSETS
807,006.08
FUNDS
CAPITAL ACCOUNT
4
829,445.32
INCOME AND EXPENDITURE ACCOUNT
(22,439.24)
807,006.08
Approved by the Trustees on 10th June 2026 and signed on behalf of them.
N. GAYNER
Trustee|£
10,033.02
16,651.89
31,549.36
9,005.65
7,321.85
3,417.75
77,979.52
2,400.00|2025
£
228,403.45
467,492.00|
|---|---|---|
|||695,895.45
75,579.52|
|||771,474.97|
|||791,944.45
(20,469.48)|
|||771,474.97|
||||
The notes on pages 6 and 7 form part of these accounts.
6
**N. GAYNER, A. QUINN, MISS C. STERNSHINE AND MRS J. BAILEY TRUSTEES OF THE ROSCA TRUST**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31ST MARCH 2026**
## 1. ACCOUNTING POLICIES
## GENERAL INFORMATION AND BASIS OF PREPARATION
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements have been prepared to give a "true and fair" view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a "true and fair view". This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## FIXED ASSETS
The fixed assets owned by the Trust consist of Freehold property including shops, flats and houses and are shown in the accounts at cost or valuation at date of acquisition. There is no intention by the Trustees of disposing of these assets and no valuation has been carried out.
## LISTED SECURITIES
Listed securities are included in the accounts at market value as at 31st March 2026 in note 3 to the accounts.
|2. FIXED ASSETS - AT COST
COST - at 1st April 2025
Improvements in year
31st March 2026|Freehold
property
£
228,403.45
-|
|---|---|
||228,403.45|
7
## **N. GAYNER, A. QUINN, MISS C. STERNSHINE AND MRS J. BAILEY TRUSTEES OF THE ROSCA TRUST**
## **NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31ST MARCH 2026**
|3. INVESTMENTS
Valuation as at 1st April 2025
Change in Value
Valuation as at 31st March 2026
4. CAPITAL ACCOUNT
Balance at 1st April 2025
(Loss) / Profit on sale of investments
Balance as at 31st March 2026|2025
£
467,492.00
36,008.94
503,500.94
2025
£
791,944.45
37,500.87
829,445.32|2024
£
475,945.00
(8,453.00)|
|---|---|---|
|||467,492.00|
|||2024
£
795,296.37
(3,351.92)|
|||791,944.45|