GRAHAM ROWLANDSON FOUNDATIOIY ROrt and Financial Statements Year ended 31 March 2021 Charity No. 802446
GRAHAM ROWLANDSON FOUNDATION i RENCE AND ADMtNISTRATIVE llWFORMATIOPI TrStee5 RG Stj RowlartdS( FCA- Chair of Tnte¢S E T M Rowlandson Prkncipal OffJ¢t GJTrham FloJs¢ 7 Wyllyott5 Plate Potte Bar HeJrfordshire EN6 2JD ChArRty I4 802446 AudlÉor5 KPMG LLP BAnkeTS NatWc5t Bank Ple 10 Si Pet s Street StAlbat)s Hcrtfordthirc ALI 3LY
GRAHAM ROWLANDSON FOUNDATION REPORT OF THE TRIJ8TF.ES For the year ended 31 March 2021 The tnJste¢s present their rert togethcr with the finan¢ial 8latement% of the drItY for the year ended 31 March 2021. The finan¢ial statemen15 hav¢ bcen prepared in accordance with the ac¢ouDLin8 polici&8 Set out in [te I to the accouajts and comply with the charity's twst deed. and the Chai'ities Act 2011. The tmstees have 8dopted tli¢ pYovi$ii)ns ol the Statemenl of R¢commend¢d Practice- AccountiDg R¢portin8 by Charities SORP 2015 (FRS l¢ll) in prcparing th¢ annual report ond fMMttLi81 statcnJenLs of th¢ chgtrity. Struetsre? governaMce *Dd The bst is aD Untti¢0rr8ted tsust. COll51ituted under 8 trnst deed dated 2 Novembcr 1989 is 8 registered charity, number 802446. The lrnsteds are appointed by the Board of Trnstee5. The Trust Deed provides for a m&xTrmum of 8 trustees. The tsuslees of th¢ ¢haJity for theyear to 31 Morch 2021 were."- R G Stl RowlatKlson FCA E T M Rowlandso The trustees are aware IknL they arc curr¢nt]y b¢knw the miDimum number of trust required. Steps are being tak¢tt to seek 8 Dew appoialmtttt. howcver, tke Tte¢S ar¢ CO]L8CoS that the Candtdate n)51 hBve thc rclcvant exp¢rien¢¢ ¢2rry outlheir duties. rhe trust¢65 hove adequate aceess up to d8te legislation to en8ble them to peFfom thcirduties. At the trustees, meetings. the tsvst¢e$ agree the bo3vd strategy attd areas of activity for the trust, including consideTation of grant makin8. reserves anLI risk management w)li¢i¢s. The day to day Idministration of gra]its Hnd the proccssin8 and handling of the majoTity of applications is delegated to Éhc Hertfordshire Community Foulldation. Risk The clknirily trusteL% have considered the m&jor risks to which th¢ ¢harily is ex[ aT)d have reviewed t[8¢ Tisks and established Sys$ &nd proceduffs to Lhose risks. The ljustees consider variability of inve5tsn¢nt Èhe charity's major risL At prescllt thes¢ #r¢ addr¢ssed by the retum on the charity's main investment being linked tts bC ¥at¢. ObJeetlve5 ATrd activitles The Obltlyr5 ofth¢ trust areto undertake cbaritable activities. The Iwst aim5 to support a widc ran8e of lo¢&1 couses wÈth its primary f¢9 on social wdfare and includes the following priority arcas'.- The weifwy of disadvantaged thildren 00d families The pn)vision of activiltes and opportwiities for young peuple Ae¢ess to education, Irainin& sports. such as tennis an(J employmcnt opPlItieS Quolity of life forolder peopl¢ Provide access to 5ervic¢s to facilitate m¢TThbers of ihe publi¢ being wisted to apply for berits to 5UPPOrt IM)th themselves and their fwnilies PublkBwefit StAtement Thr Intslees ljave refenrd to the guidan¢c in lh¢ Ch8rily ComD)ission's gw)eral guidanoc on publi¢ beoefit Mthen revicwing aims and obj¢¢tiv¢s and in planning our fvture activities. In partIClar. the twstees eottsiderhow planned activitics will contribute to the ain]$ and objectivcs they have Set. Gllt kth¥ polfficy Th¢ Charity has entered into a Tr4amcd Fund Agreement wfftth Th¢ H¢rtford5hire Commutjity Foundatiort, whioh utid¢rtgk¢s the following pm¢¢dyres of the grallt making procc55'. HAndlin8 initial ffl]quiries from potential aM)li¢4t)ts Issuing applicalivj) fotnis and accompanying guidelines GiviJ)g help ar adYic¢ where necessary in submitting applications Inteiwi¢wirtg kpplic¥u)ts by t¢lephone or by v&siting their pr¢mis¢s
GRAHAM ROWLANDSON FOUNDATION REPORT OF THE TRUSTEES For the year ended 3 l March 2021 Gr4ttt making poli¢y{totttlnU} Making othei. ¢nquiiies to oa]n additsonal tknformition hecessary for cffe¢tive assessment I¥¢paring written Lyprai5als ocapplicant DfBanisatioTh4 proieets and reqLsests Shtsrt listing appliCat)n3, meeting and agTe¢iTrg cvit¢ria for consideratioTh for a Notifyitjg Bpplicants of djc outconJ¢ of their 8pplitation M2king arrangem¢llts to PTe5ent or send gyant chcques to SUCC65sful applicants Monitoring compliaTce with wjy specific conditions attached to 8YaDts awarded Obt8ining satisfactory progre55 I'¢POrts priorto fiErthtr iThstslments of gmnts due over a period Rcviewing Ihe outcome5 of Branis made The Iru5te¢s as5es5 the short listed appltcatjOD5 Is well as laking note of any additional inforniation provided by th¢ stalyof the Community FoundatioAJ An response to $elfiC qu¢ri¢s thrn decide on which grants to award. The tt'ustees visit the recipients of grants made lo ensuiE that monies are allotated in accordanct with the tems of the grant. The tru%tces also makE a small number of grdnts outside the Named Fund Agre¢menl. Similar procedures are followed when these grants gKe made. The ts$t Is reliant on the income fiyjm its invt51ments, th¢ in¢ome from which wa8 £3,456 (2020.. £24,815). In addition th>nation8 of £48.043 {2020- £226,764) wrre receivd. Grants committed ID the peri(Id tolIed £87,011 (2020: £237.877) includittg £Nil (2020.. £Nsl) b¢ing collllnittcd but not yet paid. In March 2010 the ITUStEes #tabli.8hcd the Graham Rowlandson Grassmots Ettdowment Fund which was sct up for gen¢ral ¢h9rtt8ble ]YoseS support1g the cojnmunity and voluntary 8roups thrOU]0ut Herttordshir¢. This Fund w&$ establishcd undci. the UTnbr¢lla ofthe Gir00[S Endowrn¢nt Challenge. whby all donation5 Teceivd by the Fund attra¢ted GoV¢rD¢llt Matched I,unding. ID March 2012 the tru5tC¢5 e51abli5hed Th¢ Graham Rowlandson Community First FuDd wht¢h was set up undcr the ma]Mgemenl of Hertfordshire Community Foundatiort to support local ¢ommunity projects #nd volunwy groups within Hertfordshire, focusing 18[ ac(Èon and coJnbattin8 social dvprivdtiun. This fund also atLract¢d GoY¢mmentMatched Funding. Investment polley The Foundation's inveytments wmprise of a gift of loati stock made by Ri¢hgrd Graham St John Rowlandson. Thi5 gift is relie¢ted withiD the financial Statements as ¢xpendble endowinents whicb generaie i)¢ in the forni of interest. Res¢rv¢s policy The tn]sLecs aim to maintain free Yeseryes unrestricted fimds at a level which equ&tes to ¢ommitt¢d unr¢5tricted chilb]e expenditu. Th¢ IStee8 consideL' Ihat thi5 l¢vrl will provide suffjctent funds to resTX)nd appliralions for grdtts and et)sure that therc art sufficient funds available to cover 5UPPOrt and ¥oveman¢e Costs. The interc5t generated fTOTn the Exp¢lldahle cndowment will bo 5uffi¢ient to ¢ov¢r these wmmiknkents as attd when th¢y fall due. The expe[able endowment As an unrestt'ic¢ed reseLve and thue are no plans to convext it in the fo]rseeabl¢ futUTf. PIHnS for the lu¢ur¢ Th¢ Fund Agreement enitred into with The HertfordshiTe Community Foundation is to b¢ reviewed 8ELnually. CrY4Dt ¥4wgrds Tb¢ tnJste¢$ expect the grant level 8warded to IK in¢reasrd in the next twelve months.
GRAHAM ROWLANDSON FOUNDATION REPORT OF THE TRUSTEES For the year ended 31 March 2021 Trustee5' r¢sponsibilitits th relattoTr to the fman¢lal stfitements Th¢ tiwstces re5POtl8ibl¢ for PTep8ring the Truste¢s' Annual Report and the financial statements ]]] 2ccordallce with applicable law and Unid Kirxgdom Accounting Stolldards Iutsitcd Kin8do Generdlly Accepted Accounting Practice). The law applicable lo charRtie$ in Bnglond and Wa]¢s requir¢s the trUSte¢s Lo prepare finoncioj statcmcTht5 for each rtnancR81 year wbich give a tiue and foir view of the state of affairs of the charity and of tts incotning SOurceS and appliLXtion of re50ur¢es of the charity for that pcriod. preparing these finan¢ia] statemefit the Injstees are required tr>: sdect suitable a¢¢ounting policies and tlw apply them ¢onsistently' obSe the methods and principle5 in th¢ Chsrities SORP 2015 (FRS 1021. make jud8em¢nts and e8timate5 that are ieAsouable and pnent. state wh¢ih¢r ypplicable a¢countlDg standard5 have becn followed, subject to any m8t¢rial d¢partures disclosed and explained irt the finoncial ststements, ppart thc finan¢Èa] statements on the going Cottn basis unlc55 it is inappropriate to pJr3ume that th¥ Lharity will ¢oAJtinwe in OP¢Tation. The tru5tee5 ar¢ r¢spoThsible for keeping pYop¢r coUntin8 records that dis¢los¢ with reasonablc accuracy at any time ihc f]naJ]¥i81 position vf th¢ charity and cnable them to W5ure that tht fthancffial statctncnts ¢omply with th¢ Charities A¢1 2011 and the charity (Accounts and Repor15) Regulations 2008 athd the provisio$ ol'the trust detd. Thcy are also responsible for SafegUardll th¥ wets of the ¢harity and for takitt8 reasonable st¢P5 for th¢ pr¢v¢ThtÈon aTr(J deÉectioTr of frtwd and other isyegularitics. Audltors The Irustees in offite ott the date of approval of these financial slatcments have confirmed, as fai. as thEv atr that th¢re is no relevant avdit infonnatiL)n of which he audito13 are upawJr& Each of the trustee5 have Confwmed thal they havc taken all the step5 that they ou8htto have tgken as tru5te¢s An ordcr to ke sh¢Mselves Qwore of any r¢levgnl audit itifr)rmation and ¢stablish that it ha5 bv¢ ¢omn)vni¢ated to the *]ditors. Ar£solution to Jyappoillt KPMG LLP os auditors will be put to the n]ernbers at theAnnyal General MeetiDg. R G SU RowlatM150 Ch8irof Trustees
GRAHAM ROWLANDSON FOUNDATION Indep¢ndemt Auditor's Report to the trusltrs of GrahAm Rowl4ndsoD Fowwd4ti0 Opinlon We have audited the fmancial statements of Oraham RowlBndson Foundation (the 'chaTitab cotnpany,) for th¢ yeol. ¢nded 31 March 2021 whtch comprAse the Statementof FinanGial A¢tivilies. tlje Ba]lee Shert dnd nDles to the finan01 statements. including & summary OF signifjeant accounting poli¢ies inNot¢ l. In our opinion the fin&n¢i81 statements: give o trne and fail. view of the slate of the obaritable company's affaits as at 31 March 2021 and Of its incomiDg resour¢es and 8pplicatiOTL or resources. itk¢luding its income ad exp¢ndilurG for th¢ year then eRded' have been properly prepad accordance with UK accounting standards, includiTrg FRS 102 The Fi]Vdn¢ixI Rttpt)rling Standard in Ihe UK and Republic (kf Ireland: and have been PTfPated in aLcordaThce with the qUireM¢t5Of the Companies Act2006. BH¥ls hr oplnknn We conducted our audit in aeeoi'thince with JntvmatiL)rt21 Standard5 OJJ Auditing (UK) (ISA5 IUKI} and appli¢able law. Our Punlbl1111ts a des¢rib¢d below. W¢ have fulfilled our dhical rrsponsibililies under, and are indepeIent of tlie thai'itable company in a¢eorLlante wiih, UK ¢thi¢al wuiremeTht8 including th¢ l.'RC Ethical Standard. We believe that the 8udit evidet)¢¢ we have ¢)btaiD¢d i¥ sutYIcient and appropriote to provid¢ a basis for our opinion. Golng toncern The tiSte¢S hav¢ prepÉrcd thc financial stitemeDts on the going concejn basis as they do not IDtwd to liquidatc the charitable coinpany OT to ¢ease its operations. and as they have Concluded that tke charitable ¢ompany's financial PUblti(]n mealls that this is r¢alisli¢. They h8v¢ a150 contllldcd that there are rnalerial uneertaiTrti¢$ that Could hz4VC cast significant doubt oveT its ability to continuc as A going ¢on¢ern for at leas1 2 ycar firn the date of 8pprowal of the financial stal¢ments ("th¢ going conccrn pcritrj'l. In our eValatIOn of the trustees, ¢owlusionB, we con5idw¢d thc inhcrcnt risks to lh¢ cl)arit8bl¢ comparty's business model and analyscd how those risks might affect thc Gharitsble company's f9claI rcsourc¢5 01 ability to continue operotions over the going Co¢T ptriod. Our conclusions based on this work: w¢ eonsider that th¢ trustees, use of the going ¢oncem b&8is of accoutkting in th¢ prepatation of lh¢ financial statern¢nts is approwiate" we ve not identled, and concur with ihc tiste¢S. issessment that th¢re 15 not, a material unG¢rtainty rclatcd to events op condilions that, individu811y or colleLtively, may cast significant doubl on the charitable wmpgny's abalsty to continue as a going ¢oncem for the going concern period. FloW¢r, as w¢ caonot predict all future ¢v¢nts Or collditions 8t gs subsequent ¢v¢nts may result r outwrn¢$ that arc tThconsiStent with judgements that were iyfysonable at the limr Ihey were madc, tb¢ abov¢ con¢lusions air not a gu8rant¢e that the charitable rumpany will coThtinue in op¢rstion. Fraud and breaches ofi#w5 regNiatlons- abllity to detect Idenlifyl•gaNdrespondiMg lo risks ofmuleriol inissitheiKe41 due lofvi To identify I'isks of material mi55tatsment due to fraud ("fraud risks,? we a8sessed ev¢nts w ¢¢mdition tbat could indicate an incentive or pressure to commit fraud or pjwide an opportunity to cotwnit Our risk assessml proGeduws in¢luded= EAquiruiB of the trLL%te6s and inspection of poliey dmentatIOn as to the ¢haritsble Company's hi8h-Icvel poli¢ies and piY)cedure5 to prevent and detect fiBud, As well as whether they have knowledge of any actual. suspected or alleged fraud. Using analytical procedurc5 to identify any or Utperted relaliollships.
GRAHAM ROWLANDSON FOUNDATtON IndepeDdellt Auditor's Report to the trustees of Grabgm Rowlandson Foundatio We cofflmuni¢ated Mlentifie41 fraud rÉsks throughout th¢ audit and remained alert to any Indi¢ations of fraud tEtroughou¢ the audiL As reqtred by auditing standards, w¢ pcrforn) pmcedures to addrw the risk of management OV¢]Tid£ of coTrtN>ls, in particular the that managem¢nt may be in & p051tion to make fftappropriate a¢¢ounting entries. On this audit we do b¢lteve there is a fraud risk related to rev¢nu¢ rew8nition because 1¢ is simple in Dature and wiadortations made w&th opportunity of inc¢nliv¢ for frdud. We did not tdenify aThy additional fraud risks. lrt det¢Yminingth6 audit pro¢eth)res we took iDto Aca)unt the rcsults of our ¢Yalualion and testin8 of the opei?ting effecttv¢nes5 of some of the cbavitable Conipany fraud rtsk m8nagement ¢ontrols. We pcrfo]Jncd pro¢edDres including.. Identifying journal entries Iv test based oaj riyk criteria al comparing the idcntified entries to supwrling docuEnenttion. These included those posted by senior fmonce rnanagem¢nt and those posted to unla1 ac¢aurtt4 including Cash and Cash equivalettts. Evaluated thr businesspurpo8e of significant unusual transa¢tsons IdeTrllfying respondlng 10 17skY OJ mth¢rlul miwla/eiNenl relrfed io complifflKe vllh lfflvs We identified areas of law5 and regulations that Could reasonably be expected to have a material effed on the fmamcial statcments our gelleral comm¢r¢ial and scctor experience and t.Ough discussion with lh< trustees and other managllent re4ui]'cd by auditing slondards), and discussed ivith the tnwtees and other manBgctnent the policies and procedures regarding with laws and r¢gulalions. We ¢ommllnicated identified laws and regulation$ ihrollshout our team aDd remaed alert to indications of nonmplIan¢¢ throughoutthe wdit. The potential eff¢ct of tltese laws and regulation5 on the fiDoD¢ial statemEnts vaTi¢$ considerably. Firstly, the Charitable Company 15 subject to laws and LrguIAtions that dtlY MITe¢t the fmanG&aJ sta¢eme8 including fUlC1al irporting le8islation {inGludtng related ¢ompanies legi51ation), distributable profits legislation we assessed tbe ¢xt¢nt of coJnplisn¢¢ with thcsc laws and re8ulation$ SS Part of our proc¢dur¢s on the relat fina141 statemeDt Étems. Scrortdly, the Charitable Company is subj¢¢t to mmy other laws rewlations where the consequenc¢5 tsf non-compliancr bould have a materia] effect on amounts or disc105UTCs in the fancial statements, for instan¢¢ through ihe imposition Df fincs or litigation. We idelltifi¢d th¢ following al'ea8 as those mi)8tlikcly to have su¢h gn eEect.. hcalth and safety. data pwl¢¢litsn laws, anti- bTiry, ccitsin of company legislotion. Audiling stsrtdards limit the required audit procedul io idcntify n(7n-wmpliance wilh tljtsc laws and regulations to eJ]quiry of thc dircctors and other va8¢tl and inspection of regulatory and legal ¢orr¢5pondeThce, ifwThy. Therefor¢ if a br¢fy¢h of (yerdtionol r¢gulation5 15 Ih(Jt dis¢losed to us oi. evid¢nt from r¢l¢watht ¢oi'rewndenc¢, an audit W511 not detectthal bre&ch. Conlul ofihe ability tsfihe ¢Jiidit to delecifruudor breache5 oflmv w. gUlatIO OwiJ]g to the inherent limitations of awdit, th¢r¢ is an ullavoidknle rAsk that we may not have detected some material misstatemrnls in the fjnattcial statement& even though we have proprrly planlled p¢rfomied our audit in accordance with auditing standards. For examplfy thr further removed nonrfompl1ace with laws 8nd regulations is from the events t1Ctions TeflEGtcd in ihe financial 5tatem¢nts. the less likely the inherently limited proceduir5 required by audititig stattdanls would identsfy it.
GRAHAM ROWLANDSON FOUNDATION
Independen Audltor•s Report to the try$tees ofGraham Rowlandson FouDd4ti0
ID addition. as wth any audit. thcrc remained a higher risk of non-d¢tection of frn2d, as theBc may
involve collw810 forgery, llitentsonal omissions. mi$repres¢klalion4 or thE override of internal
contro15. Our audit procedures are d¢signed to d¢tr¢t mItla1 mi5Stat¢ment. W¢ are not rc4Mill5ible for
preventing non-complian¢¢ or fra1 and cannoi b¢ expected to detect non-Cl)mpliancc with all laws dj
regulations.
other Ir4f•rniAtttyn
The InLStees are responsible for the other itsfomation, which comprises the Tn]st¢¢s' Annu81 R¢port.
Our opiDion i)n thc fjnancial stattments does 0t cover th¢ oth¢r information an ¥cordin8ly, wc 4Jo
not express an audit opinion or, exGtpI as ¢xplicitly stated bcl(Trw, any form of assurance conclusio
thOn.
Our responsibility is lo rcad the other infonnatioll 8nd, in doing so considey whether, based on our
financial stat¢m¢ttts alit work, the infomiation therein ib mal¢riJlly misslated or inconsistent with lh¢
financial stat¢ments or our audil knowledge. Based solely on ihatwork-
we have not id¢ntifiEd matei'ial niisst#temenls fftn tbe (ther infomiation-
in our opinion lh¢ infornjation givcn itt the Tn]$tees' Annual kep)rt . which cottslitutes the
dircctors, reEK)rt lorth¢ linancial year, is consistcnt with the dalemctJts- and
in our opinion that repod has becn prepared in aceordanccwsth the Companie5 Act 2006.
Matters oll which we Are r¢quired lo report by exeeptlon
Und¢v the COpanicsACt 2006 ive aTt required to report to you r, in our opinion=
Ihe charitabl¢ ¢i)mp8Dy has not k¢pt adequalc accounting r¢cords or relurns adequote for our
audit hav¢ nat been rcceivcd from br4n¢hes tvisIted by us. or
the financial slatcmcnls are not in agreemenl with thE a¢¢ountin8 records and rettjrns. or
certain distlo8llres of trusteGs' remwjeratj( 5pecifi¢d by law are noInd- or
we have not received all the information alld explanations we requllE for our audit., or
hc tEutees werc not entitled to tske advantage of th¢ small compani¢¥
GRAHAM ROWLANDSON FOUNDATION Indepethdent Auditor'8 Report lo the trusttt5 of Grnhim Rowland80tt Foundatlon The purpos¢ •f our audlt work to Y4e owe otyr responslbllllles Thi5 r¥port is tnade solely to the rhortlable cotnpany's memb¢rs. 2s a body. in a¢¢ord8nce with C.h4H¢r 3 of Part 16 of the CotDpaDies A¢1 2006. Our audit work h&% been undtrtak¢n so that we might state to the charitable wmp8ny's m¢mber3 ihose matters we arc required tsi Sta ihcm in 8n auditor's rewrt and for no other purposc. To Ihc full¢st extent perniitted by jaw, we do nol accept or &ssume rwM>n5ibility io attyone other thatb the dwilable comp#ny its m¢mbus a JJ)dy. for our audii w(wk. for this r4. or for the opinions w¢ hwve fomicd. Mark Smlth (Senlor Statutory Audltor) For on behalf of K?MG LLP, Stgtwtory Audltor 58 C18rendoTh Ro Watford WD17 IDE Date.. 31 January 2022
GRAHAM ROWLANDSON FOUNDATION STATEMENf OF FNANCIAL ACTtvrriES For the year ended 3 l March 2021 Urtreslricd Ftindf Expendqble EAdowwent TdialFNvds 31 Mor21 TololFunds Jl Mor20 Note In¢omÈDg re¥ourtes JNconiingTesOllltesfiom generfjledfvKds." Inv¢stm¢Dt iE)come Donation 3.456 48,044 3,456 48,044 24,815 226,764 TDts*l IDtoming resowrets 51,500 5l,S00 251,579 Total resource5 expended 96.409 96.409 260.593 Iyet Te50wrees (44909) (44,909) (9,014) Retonclli#lioD tsf Fullds Total funth btDugh¢ forward li 51,770 3,456,463 3,508.233 3,517247 Total ¢arrkd forward 6,861 3,456,463 3.463.324 3,508,233 The not48 on pag 12 tt) 18 fomi partof th¢se fthan¢ial statemettts. The State¢1 of Financial Activiti&% in¢ldeS all gains and Iossr5 rwgnis¢d in th¢ year. In thB prior year. all in¢ome and expendilure wa5 from unrestricted funds. io
GRAHAM ROWLANDSON FOUNDATION BALANCE SHEF,T As at 31 March 2021 Tolul Funds 31 Mar21 Tolul Fiinds 31 20 Nolé FIXED ASSETS Investmwts 3,456.463 3,456.463 TOTAL FXXED ASSETS 3,456,463 3.456.463 CVRREIYT ASSETS Debtoi's Cash at and hand 6,776 85 51.652 118 TOTAL CURRE14T ASSETS 6,861 51,770 LIABILlEs Creditors falling duewithin one year NET ASSFTS 3,463,324 3,508,223 THE FUTr4DS OFTHE CHARtTY Unrestricted income furJd5 ExpeDdable end0V¢t 6,861 3,456,463 51,770 3,456,463 T(YfAL CHARITY FUNDS 3.463,324 3,508233 The not&% on pages 12 to 18 fonn part of th¢se f8claI statements. Approved by the I stets and authoritsyd for issue on311112Land signed OD theirbehalf by: /• J ROWLANDSON CHAIR OF TRUSTEES
GRAHAM ROWLANDSON FOUNDATION NOTES TO THE FINANCIAL STAIEMENrs As at 31 March 2021 I. ACCOUNTING POLICIES The Graham Rowlandson foulatiOn is aD Units¢(horaied charity regi5t¢red irn England 4nd Wales. The addrt55 of the regfftskred otTJee and thc nature of th¢ ¢haiity's operations atjd pritkcipal aclivities are detail¢d on pa8es 1-5 of tbis Report ind financial Statements. The charity is a public beneffftt entity gs defin¢d by LRS 102. The finall¢ial slat¢ment$ have been preparol undcr the historic Cost ¢ottvention. with thE exctption that investments ar¢ included at niarket valu¢. The finartcial 8latcments havc bc¢n prepared in e0rdance with Acci)unting and Rcpoiting by Charities Stat¢ment of RecomEncnded Practice applicable to cherities piEparing accounts in a¢¢ordan¢¢ with the Financial Repvrting St#ndard applicable in the Unit¢d Kingdom and Republ of Ireland {FRS I02) and applicable UK A¢¢ountSlJ8 Stards and lh¢ ChaKiti¢s A¢1 2011. The fmattci statements havc bE¢Th prepared on • going concern basis. The fin&ncial stsLements 8TC prepared in sterlin& rvundeil to the £1. (b) Sl4temeRlofcashJlows The ¢h8rity h85 taken advalttage of the ¢x¢mption not to produce a statsmenlof cosh flows. (c) strttelure The Charity hold8 101]n stock which Ivas 8ift¢d by Richard Graham St John Rowlandson, the in¢ome from whi¢h is wholly unreslrictcd. Unrestrictrd income thnds ¢ornprise those fund% which the trusterJ free to us¢ for any purpose in furthawJc¢ of the charitable nbjects. ThE loan stock was gifted &8 aD expendable endowment which gentrdtes incom¢ for the cJ]arity in the fom) of inlerest. TlkeTruslees allocate tbis terest in the ftbmi of gronts nMd¢ to vorious charitable causes. Furtlw details of thcsc futtds arc disclosed in not¢5 7 8nd 12. (rfj Imeomlvg reséKirc All incoming resources are ircognÈscd once lh¢ Lhurity hgs etttitlernenÈ to the resou¢s. it is probabl¢ that lh¢ resources WAII be rcceived aDd themonetary value ot incoming resource5 Cat) b¢ n]¢asur¥d with sufficientreliability. (e) R4wHrces arpeKrfed Liabililies are recognised a5 resowces expended w SO0 as their is a IEgal or constructive thbligalion Committi8 the charity to the expefjditllrt. All cxpcnditurc 15 a¢coutt(ed for on accrullls b&sis and h&5 been da55ified under headitjgs that aggrgate 811 costs T¢latd to the category. GTbnts payable Bre payments made to third parties in the fiwther8llc¢ of the cbaritable obiwtive5 of the FoundatioTh. Single or llEulti-year gTants ore octounted for when cithcr the recipient h9s a reasonable expcctation that they will receive a grant aTEd ihe trustc¢s have agreed to P8y the 8rant without condition, or th¢ r¢¢ipien¢ has a JEasonabl¢ pectatiO17 that IhEy will rcceive a and any cottdition attaching to th¢ grknl is outside of the control of the F(wndalion. GovaanCe costs con)prise all Costs involving the public accoTJtabl11ty of ihe chgrity ami its compli4t% with rcgulatioft and good pra¢tice. These costs iThc1Je costs. Telat¢d to statutory audit and le8al fet5 togEther with an 8PPOrtÉonmcnt of ovcrh¢ad atKi support costs. 12
GRAHAM ROWLANDSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS As at 31 March 2021 Accoiir4TING POLICIES (CONTtNUED) fl) Irreeovernble YA T Irftcoveroble VAT 15 charged agAinstth¢ catC80ry of resour¢e5 expended for which it was IncU¢d. (gl therfRs5el lttvalmeRts Inve5bllenls are stakd al marketwalue as at the balance shcct datL The statement of fin8ncAal activitlf5 includcsthe net gains and IossE5 arisitjg on revaluation dIs$a]S tbroughout th6 year. DationS are reported on a receivabl¢ Imsis. (I) TK The ¢lwity is cx¢mpt ¢h&rity Withi m¢anin¥ of schcdule 3 of th¢ Charities Act 2011 and is ¢onsidereO to pass Ibe lests set out in Paragraph I S¢hedule 6 1,-inaD¢e A¢1 2010 atkd therefore it meets the definition of # ¢horitsbl¢ Company for UK corwkration purposes. U) Golngconcer The fin8ncial stat¢m¢nls have been prepared going concern basi.% the trustccs consider that t matwial uncert&intlC5 exist. Th¢ trustC¢5 have ronstdercd thc Icvel of funds held and eXpted level of income and expcndithre for 12 montbs from the dale of approval of these fmartcial ststements. Ik) JMdgemeKts fjlldkeysourw of£sllatyMilon uncerlthlnty Jmdgemcnts OD the valualion ot iDve51ments have heen madc ID the process of applying th¢ o¢countin8 poli¢i¢s. -I'he trustees a.%atiSfied that theii. valuation of the investments is falY Sta1. 2. TRusfEES' REMUNERATIOTrI Trustees reccived no emoluments or expense5 during th¢y¢8r (2020.. £WIl). The trustees are coDsidercd to bc the key mana8emeDt personnel of the charity. INVESTMENT INCOME 2021 2020 lttterest- loaTr stock 3,456 24.815 13
GRAHAM ROWLANDSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS As at 31 Mar¢h 2021 4. TOTAL RESOURCL8 EXPENDED Chtwitable Atilvlilés Siippovl Cost Tolal 2021 2020 Cffant futmlcd activity (note 5) Professional fees Administration fees Bank chge5 87,011 87,011 1,500 7,865 33 237.887 1,500 21,J46 I,500 7,865 33 Total resource6 expended 87.011 9,398 96.41x9 260.593 GRANTS PAYABLE Total 2021 Total 2020 H¢rtfordthllt Charities 87,011 237.877 Total 87,011 237.877 2021 TolL71 pN(Jde ipp iheyear HCF Marketing Recover 8,577 12,530 8,472 6,676 17.707 20,489 10,627 1,933 CAB'S Th¢ Blue Tangerine F¢d¢ration Irish Network Stcvenag¢ Mudlw'ks Noith H¢rts Minority Ethnic Forum Iliwill Grdnts Mat¢hed Funds 87.011 14
GRAEIAM ROWLANDSON FOUNDATION NOTES TO THE FNANCIAL STATEMENTS As at 31 March 2021 CRApifs PAYABLE (colltkne) ReconciliaÉiDkn of grants p&yable= 2021 2020 Commitments at l Apiit ComTllitments n]ade itt the yegr 12,670 237,887 87,011 Grants payable for the year Grant5 paid during the year 87,011 (87,011) 250,557 (250,557) Comn]itmenls at 31 Maych 6. AUDITOR'S REMUNERATION Th¢ auditor's rnuneratIOn constituted an audit fee of £1,500 (2020.. £1,500). FIXED ASSET IfivEsTMENTS Movememt fixed a55et ItivlM¢t8 2021 Cost brought gmd Carried forward 3.45&463 Inve$tm¢Dts as marketvalue eottsprixd: sbOrdnated Unsecured Loan Stock 2050 (IR Rowialld50n Inv¢stm¢nts Limit¢d) 3.456,463 Totsl 3,456,463 The InvestentS re not fitely tradcable and thcr¢fore have no r¢adily available marketpric¢. The tTUStees consider tbot th¢ cost of obtaining a valuation outweighs the Inefit to the usexs of the fnatICIa stat¢m¢nts. They ar¢ also of the opinion that the value of the inv¢5tmeiit5 have not malerially changed during the ye&r. Loan stock earns interest in line with th¢ agreement. 15
GRAHAM ROWLANDSON FOUNDATION NOTES TO THE FNANCIAL STATEMENTS As at 31 March 2021 D£BTORS Tolal 2021 Toial 2020 Other debtors 6.776 51.652 CREDITORS: Amounts lalling due within one yeav Trtal 202] Tolal 2020 Grants payable 16
GRAHAM ROWLANDSON FOUNDATION NOTES TO THB FINANCIAL STATEMENTS At 31 March 2021 10. NET ASSETS EYpend&rble Endoivwenl URres¢Yicied Tolal 2020 202 2020 tnvestm¢Thts D¢btors attd cash CreditoKs 3,45Q463 3,456,463 51,770 51,770 3.45Q463 51.770 3,508233 £Ypendable ENdoivNi¢nf 2021 UmYslri¢led 2021 Tolal 2021 Investmenis Debtor5 Ind ¢Ash Creditors 3,456,463 3.456,463 6,861 6.861 3,456,463 6,861 3.463.324 11. CHARrrABLE FUNDS AKatysl$ ofFundsMoveMeHI IKomlng Rextstirces Resoiirces Expeiided IAp'J9 31 Mar20 UnTe51ri£Èed fvnds Expend&bl¢ enthjwD3lt 60.784 3,456,463 251.579 260.593 51,770 3,456,463 Totsl 3,517247 251,579 260.593 3,508233 APly51S ofFwndsMoveiné Incoining Resoiirce5 Resoiiires FJpemled IApr20 U]westricted funds Expendable endowment 51,770 3,456,463 51.500 96,409 6,861 3,456,463 Tot81 3,508.233 51.500 96,409 3.463,324 The U[¢strIGtCd funds are available to b6 &p¢nt for of the purposes of the ctwily. The ¢xpenda61e endownent p1¢¢$ in¢onY in the form of intcrcst whi¢h ¢pth be spent foy any purposes of thc charity. 17
GRAHAM ROWLANDSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS As at 31 March 2021 12. RELATED PARTY TRANSAcfioNS Richard GTaham St John Rowlandson, a Tru5te¢. gifted th¢ $hares which were subsequently exchanged for loan sto¢k in Rowla[S0 Investmettts LImid, a company in which tlie tiustees, liichard (iTahaTn St John RowlaThdstsn Edward Tlwmas Morton Rowlandson. are diiEctor5. lknchard Grdkam St JohD Rvwlthdson and Edward Thomas Morton Rowlalld50n arc direclors of RO Trddillg Limited which provid¢5 administrative support lo the Charity. DuYin8 thc year the charity received a donation or £1,500 {2020.. £1.51XII from S Graham Rowlandson & Q)mpony Limil¢(L a (Xbmpany in wliich Richard Grahotn St John Rowland.%o and Edward Thomas Morton Rowlgndson are directors. The followitig transactions togdh¢r with b#lan¢es outstsndiTh8 at the of the period, ocoufftd with compani¢$ under control. 2021 Balance Oiil&luKdiffg Value Rowlat¥Json Inve6tm¢nts Limited RowlaThJ50n Investments Limited Interest onloon Stock Domations 3,456 46,544 6.776 2010 BL71ance Oirtslandirtg Value Rowlandson Investm¢nts Lijnited Rowlandson Inveslm¢nts Li]niled Interest on loBn stock Donations 24,815 225.264 51,652 18