Charity Registration No. 306095
THE ROSL FOUNDATION
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

THE ROSL FOUNDATION
CONTENTS
Pagg
Legal and administrative information
Trustees, report
Independent examiner's report
Statement of financial activities
Balance sheet
Notes to the financial statements

THE ROSL FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Hon. Aexander Downer AC
Dr Annelle Prandzioch
Mr Frank Warn FCCA, CPA {Australial
Mrs Helen Prince
Mr Hamish Kean
Mrs Anne Wilkinson
Chairman
Key Management Personnel
The Trustees
Charily number
306095
Principal office
The Royal Over-seas League
Over-seas House
Park Place
st James's Street
London
SW1A 1LR
Independent Examlner
M Wilkes FCA
A2ets Audit servI￿s
First Floor. River House
1 Maidstone Road
Sidcup
Kent
DA14 5RH
Bankers
Coutts & Co
440 Strand
London
WC2R OQS
C. Hoare & Co.
37 Fleet Street
Londo
EC4P 4DQ
Solicitors
Russell Cooke
8 Bedford Row
Londo
WC1R4BX

THE ROSL FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their report and financial statements for the year ended 31 De￿rn￿r 2024.
The financial statements have been prepared in accordance with A{￿Unting and Reporting by Charities.. Statement
of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting
Standard applicable in the United Kingdom and Republic of Ireland IFRS 102), the Charities Act 2011 and UK
Generally Accepted Accounting Practi￿.
OBJECTIVES AND ACTIVITIES
Objects
The Foundation's objects are for such lawful educational and charitable purposes in furtherance of the work of the
Royal Over-seas League as the trustees may f￿M time to time detemiine.
Principal Activity
The principal activity of the Foundation continues lo be distribuling fijnds to meet the objectives of the Foundation.
ACHIEVEMENTS AND PERFORMANCE
Review of the year
Supporting Young Musicians through the Royal Over&as League Annual Music Competition
In 2024 the Foundation continued its longstanding support of the Annual Music Competition, contributing £56,000
towards the prrze money as well as supporting the cosL% of running the full competition.
2024 was the third year of an inlemab.onal focus beyond Commonwealth, with a significant increase in applications
from EU and EEA countries, as well as the USA. Over 250 applications were received as numbers continue lo rise,
and greater numbers of performers were accordingty ac￿pted to the live semi-final rounds.
Following video rounds in January, we o)mmenced the live final rounds in February and March. As we have
continued to see a greater number of competitors Iravelling to London to perform in the competition, an increased
proportion of the Foundation support went to assist with travel and accommodation expenses for these young
musicians, in order lo ensure il remains as affordable as possible for them lo compele in London.
All finals were recorded and uploaded to the ROSL YouTube thannel for international audiences to enjoy. We
returned to Wigmore Hall for our Gold Medal final. which look place in fronl of an exceptional industry jury, chaired
by Wigmore Hall's Chief Executive. John Gilhooly CBE. The Gold Medal Prize was awarded lo British tenor Dafydd
Jones, who appeared on BBC Radio 3's In Tune programme along with collaborative piano winner Francesca Lauri
the following day.
Furthgr Concert support for young musicians
The Foundation supported a signrficant number of paid professional engagements for our prizewinning musicians.
Partner prornoters included Lichfield Festival. Buxton Intemational Festival, Brighton Festival, Cambridge Summer
Music, St George's Bristol, Newbury Spring Festival. Lake District Summer Music. Shaldon Festival, Music in the
Round, Royal Conservatoire of Scotland, St James. Piccadilly. as well as concerts held in the Princess Alexandra
Hall al Overseas House in London.
International Visual Arts Residencies
The Foundation continued to support the visual arts al ROSL. funding Iwo intemational artists to travel lo the UK
for residency periods, in partnership with The Art House in Wakefield. Following an open call with a substants'al
selection of applications, Lilah Benetti from Auslralia and Ronald Muchatula from Zimbabwe travelled to the UK
to spend time in both London and Wakefield developing their intemational art practi￿. Their residencies included
significant career support and development, attendance al London's Frieze Art fair and netr40rking opportunities.

THE ROSL FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
FINANCIAL REVIEW
Income for the yearwas £235.92212023= £126.769). Total expenditure forthe yearwas £174,28512023.. £209,207)
which resulted in a surplus, before valuation adjustments of investments, of £61,637 {2023.. Deficit of £82,438)-
There were net gains on investments of £29.22712023= net loss of £27,221) resulting in a net movement in funds
of £90,86412023.' net movement in fvnds of a deficit of £109,659) for the year.
Investment policy
The fixed asset investment funds are invested with M&G. M&G launched the Charibond charities fixed interest
common investment fund {Charibond) in 1976 as an actively managed fixed interest fund. It invests in deposits,
UK government bonds Igiltsl and other sleding denominated fixed securities. Charibond is designed lo produce a
high income while preserving capital values. It is available to all those charities that are registered in the UK and
allowed lo invest in common investment funds.
The Equities Investment Fund for Charities (Chartfund) is a suttable investment for the equty FKlrtion of charitable
funds. It is designed to provide a high and growing income for charities, while al the same lime protecting capilal
from the erosive effect of inflation. Charifund is a charity and its management company, Charities Investment
Managers Limited. is treated by HM Revenue & Customs as such.
This ensures that charities investing in Charifvnd obtain the benefits of an investrnent in a unit trust, such as low
charges and a wide spread of investrnents, whilst qualtfying forthe same tax treatment as other UK equity ch2ritable
funds. M&G regularly communicate with the Trust and in 2023 as in preV￿uS years, attended a Board meets.ng to
provide an inveslmenl update lo the Tnjslees.
The total investmenls on 31 December 2024 had a value of £1,749,550 an investment gain of £29,227 compared
to the 2023 balance.
Going concem
The Truslees have a strong expectation that the charty has adequate resc4Jrces to continue in operational
existence for the foreseeable future. For this reason, they cA)ntinue lo adopt the going concern basis in preparing
the financial statements. Further details regarding the adoption of the going concem basis can be found in the
Accounting Policies note.
Reserves Policy
The Trust has a reserves policy of maintaining sufficient capital, in the fomi of investments, having considered
donations. legacies and investment income and growth. to distribute as much as possible to fund ROSL charitable
projects.
It is the policy of the charity that unrestricted fvnds which have not teeTr designated for a specific use should be
maintained at £68,400 {2023." £68,400) - a level equivalent to at least three month's budgeted expenditure. The
Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will
be able to continue the charities current activities while txjnsideralion is given lo ways in which additional funds
may be raised. This level of reserves has been maintained throughout the year. The Trustees keep the level of
required reserves tx)ntinually under review and the Trustees have considered the need to keep appropriate levels
of free ￿SerVeS lo ensure the smooth running of the charity. including heritage projects going forward.
Unrestricted funds at 31 De￿rnber 2024 totalled £140.171 12023= £149.4851
Restricted funds at 31 December 2024 lotalled £1.719,820 {2023= £1,619,642)
Tot21 funds at 31 December 2024 totalled £1.859.991 {2023.. £1.769,127)

THE ROSL FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Risk management
The Trustees annually review the risks that the Trust faces. To date these have included investment and cash
management, and these have been mitigated by diversified portfolio management and by an annual presentation
lo the Trustees by the investment managers, M&G. A risk register is updated regularfy and reviewed al regular
Trustee meetings. The Trustees continue lo look al whal procedures and policies may be insliluled to reduce risk
in all areas, for both existing and future projects. Athough 2024 ended with the ROSL Found8tion in a healthy cash
and investment position, the finanaal implications of the current economic strains may in the short term reduce the
value of investments. Some uncertainty remains of course, and the Ttustees remain alive lo the need to be flexible
with priorities and resources over the coming year to ensure the ROSL Foundation is best placed to continue its
valuable work funding charitable ROSL projects.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The ROSL Foundation (the 'ROSL Foundation'l is a registered charity governed by ils Trust Deed dated 1 January
1960, last updated in July 2021. The Tnjstees are shown on page 1.
The Trustees met twice in 2024. The Trustees are apF)ointed by the Central Council of the Royal Over-seas League
(Yhe League"). The day-lo-day administration of the Foundation is carried out by the League's staff. The League
operates under Royal Charter and has a mandate of promoting intemational friendship in the Commonwealth and
beyond.
The League offers clubhouse facilities lo members, Tuns a prestigious Annual Music Competition. 8rt exhibitions,
book tslks and publi¢ affairs talks and generally supports intemational engagement through its own social, music,
arts and education activities both in the UK and overseas through a network of intemational members and
branches.
TRUSTEES. RESPONSIBILITIES STATEMENT
The Trustees are responsible for preparing the Trustees. Report and the financial stslemenls in accordance with
applicable law and United Kingdom A￿O￿ntIng Standards (United Kingdom Generally Accepted Accounting
Practice).
The law applicable lo charities in England and 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 year
In preparing these financi81 statements, the Trustees are required to..
selecl suitable accounting policies and then apply them ￿nsISten￿y-
observe the methods and principles in the Charities SORP-
make judgments and accounting estimates that are reasonable and prudent-
prepare the financial statements on the going concem basis unless il is inappropriate to presume that the
charity will continue in operation.
The Trustees are responsible for keeping sufficienl accounting records that disclose with reasonable accuracy at
any lime the financi21 position of the charity and enable them to ensure that the financial statements comply with
the Charities Act 2011, the Charity (Accounts and Reports} Regulations 2008 and Ihe provisions of the trust deed.
They are also responsible for safeguarding the assets of the charity and hence for taking reasonable sleps for the
prevention and detection of fraud and other irregularities.
This report was approved by the Trustees. on 11 September 2025 and signed on their behalf by=
Hon. Alexander DownerAC. Chaimian
Trustee

THE ROSL FOUNDATION
INDEPENDENT EXAMINERYS REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
I report to the Charity trustees on my examinati(￿ of the a(Lounts of The ROSL Foundation for the year ended 31
December 2024 which are sel out on pages 6 to 14.
Responsibilities and basis of report
As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements
of the Charities Act 2011 I'the 2011 Acl'l.
I report in respect of my examination of your charity's accounts as caffied out under section 145 of the Charities
Act 2011 I'lhe 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity
Commission under section 145(5)Ibl of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm thal no material matters have (x)me to my attention in connection wilh
the examination giving me ￿￿se to believe that in any material respect-
accounting records were not kepl in accordance with sects.on 130 of the 2011 Acl; or
the accounts do not accord with those records., or
the accounts did not comply with the applicable requirements conceming the fomi and content of accounts
set out in the Charities {Ac(x)unts and Reports} Regulations 2008 other than any requirement that the
accounts give a 'true and fairf view which is not a matter considered as part of an independent examination.
I have no concems and have corne across no other matters in (x)nnection 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.
A Wilkes IFCAI
For and on behalf of knets Audit Services
First Floor. River House, 1 Maidstone Road
Sidcup, Kent,
DA14 5RH
Date.. 18 September 2025

THE ROSL FOUNDATION
Statement of Flnanclal Activitles
(Including Income and Expenditure account)
For the year ended 31 December 2024
Unreslricted
funds
2024
Restricted
funds
2024
Total
2024
2023
Notes
Income frorn:
Donations and legacies
Investments
49.960
8.842
81,330
95.790
131,290
104,632
28,873
97,896
Total
58.802
177.120
235,922
126.769
Expendlture on:
Charitable activities
70.585
103,700
174,285
209,207
Total
70,585
103,700
174,285
209,207
Net income
(11.783)
73.420
61.637
182.4381
Net gains on revaluation of fixed
assets
2.469
26.758
29,227
127,2211
Net movernent in funds
(9.314)
1CK).178
90,864
(109,6591
Reconciliation of funds:
Total funds brought forward
149.485
1.619.642
1.769,127
1,878.786
Total funds carried forward
140,171
1,719,820
1,859,991
1,769,127
The statement of financial activities includes all gains and losses reccNJnised in the year.
All income and expenditure derive from continuing actimties.

THE ROSL FOUNDATION
Statement of Flnanclal Activitles
(Including Income and Expenditure account)
For the year ended 31 December 2024
Comparative - 31 December 2023
Unrestricted
funds
2023
Restricted
funds
2023
Total
2023
Notes
Income frorn:
Donations and legacies
Investments
26,827
9.789
2,046
88,107
28,873
97,896
Total
36.616
90,153
126.769
Expendlture on:
Charitable activities
80,802
128,405
209,207
Total
80,802
128,405
209,207
Net income
(44.1861
(38,252)
182,4381
Net gains on revaluation of fixed
assets
(2.7221
124,499)
127,221)
Net movernent in funds
(46.9081
162,751)
{109,6591
Reconciliation of funds-
Total funds brought forward
196.393
1.682,393
1,878.786
Total funds carried forward
149,485
1,619,642
1,769,127
The statement of financial activities indudes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.

THE ROSL FOUNDATION
Balance Sheet
As at 31 December 2024
2024
2023
Notes
Fixgd assets
Investments
1.749.550
1.720.323
Current assets
Debtors - Accrued income
Cash at bank and in hand
4,931
135,777
98,964
140,708
98.964
Crgditors: amounts falling dug Within
one ygar
130,2671
150,160)
Net current assets
110.441
48.804
Total assels less current liabilities
1,859,991
1,769,127
The funds of the charity.
Restricted funds
Unrestricted funds
1,719,820
140,171
1,619,642
149.485
10
1,859.991
1,769.127
The financial statements were approved by the Trustees on 11 September 2025 and signed on their behalf
Hon. Alexander Downer AC, Chaimian
Trustee

THE ROSL FOUNDATION
Notes to the Financial Statements
For the year ended 31 December 2024
1. Accounting policies
Basis of preparation of financial ststements
The ROSL Foundation is a registered UK charity govemed by its Trust Deed. The address of the registered office
is given in the charity infomialion on page 1 of these financial stalemenls. The nature of the charity's operations
and principal aclivilies are set out on page 2.
The charity Constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared
in accordan￿ with Accounting and Reporting by Charilies= Statement of Recommended Practice applicable lo
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland issued in October 2019. the Financial Reporting Standard applicable in the United Kingdom
and Republic of Ireland IFRS 1021, the Charities Act 2011, Ihe Companies Act 2006 and UK Generally Accepted
Accounting Practice.
The financial statements are prepared on a going COn￿M basis under the historical cost convention, modified to
include certain items at fair value. The financial stalements are prepared in sterting which is the fvnclional currency
of the charity.
The significant accounting policies applied in the preparation of Ihese financial statements are set out below. These
policies have been consistenuy applied to all years presented unless otherwise stated.
b. Golng concem
At the time of approving the financial statements. the Trustees have a reasonable expectstion that the has adequate
resources lo continue in operational existence for the foreseeable fvture. Thus the Trustees conts'nue lo adopt the
going concem basis of accounting in preparing the financial statements.
Charitable funds
Unrestn'¢led funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives
unless the funds have been designated lor other purposes. There are no designated funds al present.
Restricted funds are funds given by donors for specific purpose5 declared by the donor when making the gift.
Income
Income is rewgnised when the charity is legal￿ enti￿ed to it after any perfOrrnan￿ wndilions have been met, the
amounts can be measured reliably. and it is probable that incDme will be received.
Investment income is recorded when receivable and allocated lo respective funds based on the opening balance
at the beginning of the year.
Donations are accounted for when there is entitlement, probability of receipt and the amount can be measured
reliably.
Legacies are accounted for when there is entitlement. prob8bility of receipt and rneasurement, which is often at the
time of receipt.
Gift aid reclaimable on donations to the charity is included when daimed.

THE ROSL FOUNDATION
Notes to the Financial Statements
For the year ended 31 December 2024
1. Accounting policies
Expenditure
Expenditure is recognised once there is 8 legal or constructive obligation to transfer economic benefit to a third
party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the
obligation can be measured reliably. Expendf(ure is dassified by activity. The costs of each activity are made up of
the total of direct costs and shared costs. including suptK)rt (X)Sts involved in undertaking each activty-
Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to
more than one activity and support costs which are not attributable to a single activity are apportioned between
those activities on a basis consistent wth the use of resources.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional.
such grants being re￿gnised as expenditure when the condits.ons attaching are fvlfilled. Grants offered subject lo
conditions which have not been met al the year end are noted as a ￿MmItMen( but nol accrued as expenditure.
Irrecoverable VAT is charged to the Statement of Financial Activities as incurred.
Fixed asset investments
The cost of managing investments is charged against investment capital. rellecting Ihe total retum approach to
investment management. Any costs, associated with the sale or purchase of investments, are accounted for as
Part of the sale or purchase price of the investrnents.
Quoted investments have been valued al market value at the balance sheet dale. Unrealised and realised
investment gains and losses are shown net in the Statement of Financial Activities and are also allocated to
respective funds based on the opening balance at the beginning of the year.
Cash and cash equlvalents
Cash and cash equivalents include cash in hand and deposits held at call with banks
Debtors and creditors receivable and payable within one year
Debtors and creditors with no staled interest rate and re￿1vable or payable within one year are recorded at
transaction price. Any losses arising from impaiment are recognised in expenditure.
Crltical accountlng estlmates and Judgements
In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates
and assumptions about the carrying amounl of asseis and liabilities that are not readily apparent from other
sources. The estimates and associated assumptions are based on historical experience and other factors that are
considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates
are recognised in the period in which the estimate is revised where the revision 8ffecls only that period. or in the
period of the revision and future periods where the revision affects bolh current and future periods.
10

THE ROSL FOUNDATION
Notes to the Financial Statements
For the year ended 31 December 2024
Unrestricted
funds
2024
Restricted
funds
2024
Donations and legacies
Total
2024
2023
Donations
Legacies
Gift aid
31.625
2,000
16,335
81.330
112,955
2,000
16,335
13,850
15,023
49.960
81,330
131,290
28,873
Investments
Unrestricted
funds
2024
Restricted
funds
2024
Total
2024
2023
Charifund income
Charibond income
Bank and other interest
7.768
943
131
84.145
10.222
1.423
91,913
11,165
1.554
87,317
9,114
1,465
8,842
95,790
104,632
97,896
Expenditure
Support
costs
Direct Costs
2024
Total
2024
2024
2023
Charitable activity..
Music projects
Visual arts
lo3,7￿)
6,741
59,947
3,897
163,647
10,638
189,421
19,786
110.441
63.844
174,285
209,207
Support costs
2024
2023
Management fee to ROSL
Archiving costs
Sundry expenses
Governance costs..
Independent examiner's fees
Independent examiner's fees- overprovision in prior years
60,000
60,000
15,0001
112
3,500
3,300
11,2501
63,844
57,162
Trustees
None of the trustees lor any persons connected wth them) received any remuneration or benefits from the charity
during the year {2023- None). No Trustee received any amounts for re-imbursement ol expenses12023 - None).

THE ROSL FOUNDATION
Notes to the Financial Statements
For the year ended 31 December 2024
Flxed asset Investments
2024
2023
Market value
At 1 January 2024
Rev8lu8tions
1,720,323
29,227
1,747,544
127,2211
At 31 December 2024
1,749,550
1,720,323
Total
2024
Total
2023
Cost of Investments
1,711,423
1,711,423
2024
2023
Asset distributlon:
Charibond
Charifund
245,860
1,503,690
254,837
1,465,486
1,749,550
1,720,323
Creditors: amounts falling due within one year
2024
2023
Due lo Royal Over-seas League
Accruals
11,767
18,500
41,257
8,903
30,267
50,160
Restricted funds
Balance at
Unre31ised
Balance at
1Jan24
Income
Expenditure
gain I loss
31 Dec 24
Current year
Centenary Appeal
Commonwealth Travel
Scholarship
Mani Bhumgara Fund
Humanitarian projects
Roderick Lakin Fund
Patrons Scheme & Other Arts
Reserves
Robbie Wainrighl- Arts & Music
in Kenya
Heritage
891,298
54,652
161,775)
15,267
899,442
41.328
2.534
708
44,570
585.155
43.051
51.639
35.880
140,9341
10,023
737
590,124
46,428
51,639
81.330
81,330
5,802
(991)
4,811
1.369
23
1,476
1,619.642
177.120
1103,700)
26,758
1.719,820

THE ROSL FOUNDATION
Notes to the Financial Statements
For the year ended 31 December 2024
Restrfcted funds Icontlnued)
Balance at
1Jan23
Unrealised
galn I loss
Balance at
31 Dec 23
Income
Expendltuye
Prior ygar
Centenary Appeal
ComTnonweallh Travel
Scholarship
Mani Bhumgara Fund
Humanitarian projects
Roderick Lakin Fund
Robbie Wainrighl - Arts & Music
in Kenya
Heritage
927.046
51.076
172.621)
114,203)
891,298
37.780
4.127
{5791
19,063)
{6341
41,328
591.631
41.404
54,285
32,596
2.281
130.009)
585,155
43,051
51,639
{2,646)
28.931
123.129)
5,802
1.316
73
{20)
1,369
1,682.393
90.153
(128,405)
124,499)
1,619,642
Centena
eal
This fund is to raise at least £1 m from which to make annual music awards and scholatships to students under the
League's 'ROSL ARTS, scheme.
Commonwealth Travel Scholarshi
This fund is available for assistance wth travel a￿angementS within the Commonwealth
Mani Bhum
ara Fund
The Mani Bhumgara Fund is a legacy given by fomer ROSL member Mr Kurshed Bhumgara in memory of his
mother to enhance the First Prize at the ROSL Annual Music Competition. The immediate distributions, in three
instalmenls, from the legacy have now been received into the Trust and it is understood that a further distribution is
likely on the death of the surviving spouse. The Trustees have agreed that the capital should be retained and the
investment income should be used to fund an annual Mani Bhumgara Scholarship to enhance the existing Gold
Medal and First Prize awarded to the wnner of the ROSL Annual Music Competition. This scholarship, with advi
as necessary from the ROSL Artistic Director may be used to fund a project associated with the professional
development of the Gold Medal Winner.
Humanitarian
The Humanitarian projects are undertaken in Africa for school. university and rural enterprise projects in those
countries.
Roderick Lakin Fund
Tre Roderick Lakin Fund is for ROSL projects for young musicians in Scotland
P81rons Scheme & OtherArts Reserves
This fund is available for the gener81 activities of the arts programme. and there are no specific restrictions on how it
may be used.
Robbie Wainri
hl - Arts & Music in Ken
The Robbie Wainright Fund is for supporting art and music in Kenya.
Heritage
This fund is for supporting the Maintenan￿ and upkeep of Heritsge features wthin Over-seas House.
13

THE ROSL FOUNDATION
Notes to the Financial Statements
For the year ended 31 December 2024
10. Anal￿1$ of net assets between funds
Unrestricted
funds
Restrided
funds
Total
funds
Fixed assets
Current assets
Current li8bilities
129,907
25,531
115,267)
1,619,643
115,177
115,000)
1,749,550
140,708
130,2671
140,171
1.719,820
1,859,991
Comparative information in respect of the preceeding period is as follows:
Designated Unrestricted
funds
funds
Total
funds
Fixed assets
Current assets
Current liabilities
179.829
14.325
144,669)
1,540.494
84,639
15,4911
1,720,323
98,964
150,160)
149,485
1,619,642
1,769,127
11. Related party transactions
Mr Hamish Kean, Helen Prince, and Dr Annette Prandzioch. were Trustees during the year and were also members
of the Central Council or members of the Senior Management of the Royal Over-seas League, which received the
music prize and scholarship payments from the Trust and paid them to the relevant prize wnners and scholars.
None of the Trustees has a beneficial interest in Ihe Royal Over-seas League. The balance with ROSL al year end
was a creditor balance of £11,76712023: £41,257). Expenditure paid by the Trust to ROSL in Ihe year was £60,000
12023 £60,000).
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