CHARrrY REGISTRATION NUMBER: SC045528 Rookie Rockstars Financial Statements 31 March 2024 NELSON GILMOUR SMITH Chartered accountants& statutory auditor Mercantile Chambers 53 Bothwell Street Glasgow G2 6TB Rookie Rockstars Flnanclal Statements Year ended 31 March 2024 Pag& Trustees, annual report Independent audilorfs reFQrt to the members Statement of financial actwities 10 statement of ffinanckql position 11 Statement of cash ffows 12 Notes lo the financial statements 13 The followlng pages do not form part of tho flnanclal statements Detalled statement of financial activtt 25 Notes to the detailed slalemenl of financial activities Rookie Rockstsrs Trusteos. Annual Roport Year ended 31 Mar¢h 2024 The Iruslees present their report and the financial Staieff￿nts of the chaiity ft)i the year ended 31 March 2024. Rgferanco and admln15trative detai15 Registered charity name Rts)kie Rockslars Charlty reglgtrallon number SC045f28 Prlnclpal office The trustees Audltor Nelson Gilmour Smith Chartered accountants & statutory auditor Mercantile Chambers 53 8otrwell Street Glasgow G2 6TB Slw¢ture. goveman¢e and management The charity is a Scoth'sh Charttable Incwrated OrganisatK?n (SCIO). The Trustees take all decisions )nceming the Irust. The existing trustees appoint new trustees who are selected on the basis of their specific related experience. Rookie Rockstars Truslees. Annual Report (conthiued) Year ended 31 March 2024 Objectlves and actfvitles To advance education by running workshops in gLhcols teaching anti-bullying, self esteem, perseverance, cOn￿enCe and other health and wellbeing issues in Scotland and the surrounding areas - To advance partI￿patiOn in MUS￿ through the prov¢sion of affordable mu$K ￿$sonS - To provide subsidised and free tt￿ntaI health mentoring aThJ ojunselling to young people aged 5-18 In Scolland and the surrounding areas. Our organisation's mission is threefold and iefleGts on three factors.. Accessibiltty, Approachabilty and Affordabilty. Overall our goal is lo improve the Mental health and wellbeing of the children and young p￿pIe In our community. We do this through the folknMng acttons: 1. leaching anti-bultying, positive sell-esteem and c4Jnfidence on a national s(xle 2. providing affordable music tuition to the indbviduab of our community 3. increasing the accessibility and avaiLabilty of mental health care in our communty Rookie Rockstars Trustees. Annual Report (conttnwdj Yearended 31 March 2024 Achievements and perforniance Rookie Rockslars o)ntinues to improve the heaHh and Wel1b￿ng of the children and young people in our communty. Since Rookie Rockstars gain&J charity sta￿S in 2015, our primary school programme has visited thousands of schools in the UF( Though we largely work in Scolland, we have also visited schools in England and Wal￿. Of these sch(x)Is, we hav8 interacted with over 520.000 wimary school children. This rneans that in the past 9 years, over 520,IXKJ children have benefiled from the lessons we leach. This programme aims to provide chIld￿n y￿th a unique experience, through whiGh they learn valuable lessons about ant￿b￿1￿lng, confiden￿, resFe< self-esteem and positive friendships.11 gives children the opportunty to work with professK)nal musicians and performers to learn original songs and perfom in a c¢ncerL The programme is designed to embrace the 4 capacities of the Curri¢ulum for Excellence by en¢ouraging pupils lo be¢onE successfvl leamers, confident individuals, $ponsible citkens and effectNe contributors. This is achieved through active leaming and collaborative working wth the whore schcKJl. LNely and original rc¢k songs. written especialty for Ihe programme, in$W￿ pupils to have fun while leaming valuable lessons. Our plans and targets were recorded by creating experiences and ou1C￿ whi¢h reach objectives expressed throughout the Curriculum of Excellence. We now have 4 music schools covering 3 Ictal aUth￿lty areas in Scotiand: East Dunbartonshire, North Lanathshire and Falknrk, which now have appr0￿matelY 485 studenls ￿Mbined, prorTr)ting greater well-being and recovery for children faciw both mental and s(Kial difficijlties. We believe in the success of these projects as rf( gives chiklren the chance to pursue Iheir ambitions in developing musical and sockgl abilities through the learning of InstrU￿n￿. We have 4 charity shops based in Kirklnlilkxh. Cumbemaukj. Falkirk. and Kitkcaldy. We op8ned a new fumrture charty shop in Kir￿"n￿ll0cb in May 2024 and are looking to explore partnership opportunities with 'hoU￿ng, services where we can help wilh fumiture needs for those who arelhave been experierring housintyhomelessness i8sues. Our mental health service haé such phenornenal growlh that we released most coun5ellors and some other staff on the 1 st May 2024 to set this se￿1￿ up a5 a charrty in its own right. We have held 2 fundraising events during the course of 2023r2024 whiGh induded our Rockathon and Rock Out events. The After School Club has gr¢)wn from strength to strenglh and now offer5 UP to 75 spaces for children betsveen the ages of ¢12, Flnanclal The charity has a surplus of £30.295 {2023 deficit of £14.760) and this ha5 been transferred lo reserves. Rookie Rockstars Trustees, Annual Report (conllnu* Ygar gndgd 31 March 2024 Financial rgview fconllnvod) Rgsgrvos pollcy During the summer months and Christmas and Easter holidays we are unable to run our schools programms meaning that we are also unable to run our fundraising concerts. Due to the costs and time taken lo train our staff to delNer these pr0graMrr￿ we need professional outreach workers who are pald throughout the year. Our reserves are used to cover over heads and staff costs when schools are closed and incorne stops. The Trustees have 8Stablished a polw whereby the unreslricled fvnds held by the charity should be 3 rTK)nths of expendrture, this is approximately £200,000 after taking into atxount the separation of RookE Minds into a new charity. At this level, the Trustees feel that they would be able to continue the (xjrrent actNities of the charity in the event of a significant drop in funding. It would obviousty necessary to consider how the fvnding would be replaced or the activities changed. At present the tree reseNes amount to £245,071 {2023: £211,122). Prfncipal Funding Sources The principal sources of funds during the yearwere from donalK>ns, fees and grants. Rlsk Management The Trustees have conducted a review of the major risks to which the tharity is exposed. Where appropriate. systems or prcKedures have been established to mibgate the risks which the charity faces. Plans for future periods We plan to consolidate what we currently have as we fuure out what the charity Iwks like without the mental health counselling whid) was re￿Sed on 1* May 2024 We are looking to start a chlhjren's choir, as well as a thoir for those wth additional supportlspecial needs. During the year It was declded to separate Rookle MirKls Into a separate Charity. On 5 April Ml Minds Was registered as a s￿tt￿sh Charity with OSCR. Charity Number SC053259. On 1 May 2024 £55,OOD was don8ted to All Mind8. Events after the end of the reportlng period Particulars of events after the rewting date are detrilwj in note 25 to Ihe financial statements. Trustees. responslbllltles ststement The Iruslee8 are responsible ￿ preparing the trustees. report and the finanaal statements in a￿)rdance with applicable law and United Kingdom A¢oounting Standards (United Kingdom Generally A(xepted Accounting Practice). The law applicable to charities in Scotland Tequires the charty trustees to prepare financial statements for each year which give a true and fair view of the stale of affair5 of the charity and of the inooming resources and application of resour￿, of the charity for thal period. In preparing these financial statements, Ihe Injstees are required to: select suitable accounting px)licies and then appty them consistenyy" observe the methods and Princip￿ in the appl￿b￿ Charities SORP,. make ludgments and accounting estimates that are reasonable and prudent prepare the financial statements on the going cOn￿M bask8 unths il is inappropriate to presume that the charity wll continue in bU￿ne$S. Rookie Rockstars Trust8e8' Annual Report fconllnuedj Year ended 31 March 2024 The trustees are respjnsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose swth reasonab￿ accuracy at any lime the financial position of the charity and enable them to ensu￿ that the financial statements comply with the Charities and Trustees Investments {Scollandl A¢1 2005, the Charity A¢¢ounts IScotland} Regulations 2006. and the provisions of the Trust Deed. They a￿ also ￿pon￿ble for safeguarding the assets of the charity and hen￿ for taking reasonable steps for the prevention and detection of fraLKI and other irwularities. The trustees, annual report was approved on 14 December 2024 and sgn&J on behalf of the board of trustees by". Trustee Rookie Rockstars Indopendont Auditor'8 Report to the Membors of Rookie Rockstars Year ended 31 March 2024 Oplnlon We have audited the financial statements of R￿kie Rockstars (the 'charity') for the year ended 31 March 2024 which comprise the statement of ffinancial ￿t￿lties, statement of financial position, slalemenl of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applrable law and United Kingdom Accounting Standards. including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (Untted Kingdom Generalty Accepted Accounting Practice). In our opinion th8 finan￿al State￿nts.. give a true and fair v￿W of the state ot the charity's affai￿ as at 31 March 2024 and of its incoming resources and application of resources, including Its income arKI expendI￿re, for the year then ended., have been properfy prepared in accordance with United Kingdom Generally AcTrpted Accounting Practi￿,. have been prepared in accordan￿ wtth the requirements of the Charities and Tmstee Investment Iscottand) Act 2005 and regukgtion 8 of the Charities Accounts (Scotlandl Regulations 2006 las arrEnded). Basls for oplnlon We conducted our audit in accordance wtth Inlemational Slandanls on Audibng IUIQ {ISAs (UKII and applicab￿ law. Our responsibilities under those standards are further described in the auditorfs responsibilities for the audit of the financial statements SeCt￿)n of our report. We are independent of the charity in accordance with the ethical requiTements that are relevant to our audrt of the financial statements in the UK, Including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in ac¢ordan¢e with these requirements. We believe that the audit evidence we have obtained is SLrffi¢lent and appropriate lo provhle a basis for our O￿n￿n. Concluslons relating to going concèm In auditing the financial statements, we have ￿nClUd￿J that the trustees, use of the going concem basis of accounting in the preparation of the financral statements is appropriate. Based on the work we have perforn￿, we haye not identtfkd any material uncertainties relating to events or C￿ditionS that, Individually or collectiyety, may cast signiffcant doubt on the charity's ability to continue as a going concem for a perrod of at least ￿e1ve n￿nthS from when the financial statements are authorised for issue. Our responsibilities and the responsibilitTres of the iwslees with resFkd to going concem are described in the relevant sections of this ￿pOrL Rookie Rockstars Independent Audltorfs Report to the IAembots of Rooklè Ro¢kstarn {¢onth>ued) Year ended 31 March 2024 Other Infomla￿On The other information comprises the infomiation included in the annual reFX)rt, other than the financial statements and our auditoffs report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other infonnatron and, except to the extenl otherwise explicitty stated in OUT reporL we do not express any fomi of assurance conclusion thereon. In connection with our audit of the finanual statemnts. our resp)nsibility is to read other Information and. in doing so, consider whether the other information is materially inconsistent with the financial slalements or our kno￿edge obtained in the audit or othetwise appears to be rnaterially misstated. If we identfy such material inconsistenaes or apparent material misStaten￿nt5, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If. based on the work we have perfomied, we conclude that there is a material misstatement of thKs other informaiion. we are required to report that fa¢t. We have nothing to report in thk8 regard. Matters on vthi¢h we are required to report by exception In the light of the knowledge and understsnding of the dmrity and its environment obtained in the ¢ourse of the audit, we have not identified material mtsstatenEnts in the tNslees' reporL We have nothing lo report in reS￿t of the following maiters in relation to Wh￿ the Charities Accounts (Scotlandl Regulath)ns 2006 las amended) requires us to reFQrt to you if, in our opinion: the information given in the I￿steeS, rep)rt is inconsistent in any material reSp￿t with the financial statements., or adequate accountsng r￿)rdS have not been kept: or the financial statements a￿ nol In agreen￿ntwlth the a¢¢ounb"ng records and retums" or we have not recewed all the infofmation and explanations we require for our audit Responsibilities of trustees As explained more in the trustees, respon￿bil[tES statement. the trustees are responsible for the preparation of the financial ststements and for tEing satisfied that they gwe a true and fair view, and for such internal control as the trustees deterrnine is necessary to enable the preparation of firnanGial statements that are free from material mbsstatem8nl. whether due lo fraud or emr. Ir) preparing the financial statements, the trustees are responsible for assessing the charity's abilAy to continue as a g￿ng concern, disclosing, as applicable. matters related to going con￿￿ and using the going concern basis of accounting unless the Iruslees eithei intend to IiquKlate the charity or lo ￿ase operations, or have no realistic attemalNe but to do so. Rookie Rockstars Independent Auditoes Report to the Members of Rookie Rockstars (¢ty)Ilnufjd) Year $nded 31 March 2024 Auditorf8 responsibilities for the audtt of the flnan¢ial 8tst¢m¢nts Our obl￿tiveS are to obtain reasonable assurance abwt whether the fi.na￿la1 statements as 2 whole are free from material misslatemen( whether due to fraud or err¢y, and to issue an auditots report that includes our opinion. Reasonable assurance is a hiJh ￿Ver of assurance, but is not a guarantee that an audit conducted in accordan￿ wlh ISAS {UKI will a￿ayS delecl a material misstatement when il exists. Misstatements can arise from fraud or e￿or and are conshlered malerral if, Individual￿ or in the aggregate, they could reasonably be e￿Cted to influence the economic d&rIS￿nS of users taken on the basis of U7ese finan¢ial statements. Irregularities. including fraud, are instances of non-compliancfj with laws and regula110115. We design prccedures in line with our responsibilities, oudined above, to detect material misststement5 in respect of irregulaiities, induding fraud. The extent to which our procedures are capable of detecting irregularities. including fraud is detsited bebw. Based on our understanding of the company, we idenllfied the prirripal risks of non-compliance with laws and regulabons and the extent to vA7tch non-complian￿ might have a material effect on the financial statements. We also considergj those laws and regulations that have a direct impact on the preparation of the tinanoal statements such as the Companies Act 201K. We evaluated managements in￿ntiveS and opp￿￿nItieS for the fraudulent manipulab.on of the financial statements, including the risk of override of controls. Based on our assessfTEnt we adopted a substanbve approach lo our a￿lIt testing. Audit procedures Pth?￿d induded.. Testing a sample of transactions to source d(￿￿rr￿ntstion. We ser￿1 sample 5vzes having regard to the inherent risk (specific and generall. the quality of the intemal controls and the risk that our testing might not detect possible misstatements. Making enquiries of managemenc those charged with govemance and the entity's solicitors around actual and potential litigation and claim5. Identfying legislation of particular relevan￿ to the entity and obtsining audit eV￿en￿ regarding cAxnpliance wlth thal legislaiion. Auditing the risk of management override of (x)ntroLs, induding through testing journal entries and other adjustments for appropriateness, and evaluating the business rats'onale of signi￿nt transactions outside the normal course of bu￿ne$S There are inherent limitat￿nS in the audrt prc¢edures described al)￿. Aso, the risk of not detecting a material misslatemenl due to fraud is higher than the risk of not delecbng one resulting from error, as fraud may invofve deliberate con￿[ment by, for example ff￿ery or cOn￿alment. As part of an audit in accordance with ISAS (UKI.. we exercise professional judgment and maintain professional sceplicism throughout the audil Vk also: Identify and assess the risks of material misstatement of the financial slalements, whether due to fraud or error, design and rerform audit procedures responsive to those r￿￿ks, and obtain audit evKJence that is sufficient and appropriate to provide a basrs for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion. foTgery. intentional omissions, misrepresentations, or the override of internal conlroi, Obtain an understanding of inlemal Contr￿ relevant to the audit in order lo design audit prc￿dureS that are appropriate in the circumstances, l)ut not for the purpose of exptessirtg an opinion on the effe¢tivene$s of the intemal control. Evaluate the approwateness of accounting Wri￿eS used and the reasonableness of accounting estimates and related disclosures made by the trustees. Rookie Rockstars Independent Audltorfs Report to the Member5 of Rookie Rockstars (confinued) Year ended 31 March 2024 Conclude on the appropriateness of the trustees, use of the going concern basis of accotjnling and, based on the audit evidence obtained. whether a material uncertainty exists related to events or conditions that may cast significant doubl on the charity's ability lo continue as a going concern. If we conclude that a material uncertainty exists. we are required lo draw attention in our auditor's report lo the related disclosures In the financial statements or, if such disclosures are inadequate, lo modify our opinion. Our conclusions are based on the audit evidence obtained up to the dale of our auditor's report. However, future events or eondilions may cause the charity lo ￿ase to continue as a going concem. Evaluate the overall presentslion, structure and wnlenl of the financial statements, including the disclosures, and whether the financial slalèments represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with govemance regarding, among other matters. the planned scope and liming of the audit and significant audit findings. including any significant deficiencies in internal control that we identify during our audit. Use of our report This report is made solely to the charity's members, as a body. in accordance with Regulation 10 of the Charities Accounts (Scollandl Regulations 2006. Our audit work has been undertaken so that we might slate lo the Charity's members those matters we are required to stste lo them in an auditor's report and for no other purpose. To the fullest exlenl permilled by law, we do not accept or assume responsibility lo anyonè other than the charity and the charity's members as a l)ody. for our audit work, for this report, or for the opinions we have formed. Nelson Gilmour Smith Chartered accounlanls & stalulory auditor Mercantile Chambers 53 Bolhwell Street Glasgow G2 6TB IGlo12(p Rookie Rockstars Statemenl ol Financial Activitie5 Year anded 31 March 2024 2024 Restrthd ftjnds Totsl funds Total fvnds 2023 Unreslrictal funds Income and ondovJm&nts Donations and legacies Charitable actNilies Other trading aclwities Investment income 35.919 928.731 248.399 197 60,138 96,057 928,731 248,399 197 78,225 743,824 149,800 204 Total Income 1,213,246 60.138 1,273,384 972,053 Exp8nditure Expenditure on raising funds.. Costs of raising donations and legacies Costs of other trdding activities Expenditure on charitable activities Total expendlture 8.736 192,094 978.467 8.736 192,094 1,042.259 1,243,089 9,280 151,711 82S,822 986,813 10,11 63,792 63,792 1,179.297 Net In¢omel{expendlturel and nel mo¥ement In funds 33.949 13,6541 30,295 (14,7601 Reconclliation of funds Total fijnds brought forwaTd Total funds carrl8d forward 211,122 245,071 12,988 9,334 224.110 238,870 224,110 254,405 The statement of financial activities indudes all gains and losses recognised in the year. All incorrE and expendi￿re derive from continuing activibes. The notes on pages 13 to 23 forni part of these finan¢lal $tstements. 10 Rookie Rockstars Statornent of Flnanclal Posltlon 31 March 2024 2024 2023 Note Flxed assets Tangible fixed assets 16 13,038 20,396 Current a88ets Debtors Cash al bank and in hand 17 24,655 224,750 249.405 30,819 181,562 212,381 Creditors.. amounts falling due vAthln one year Net ¢urrant assèts 8.038 7,585 241,367 254.405 204,7 225,192 Totsl assets lesg current Ilabllltt83 Credltors.. amounts falllng due after more than one year Netassgts 19 1,082 224,110 254.405 Funds of the charlty Reslricled funds Unrestricted fvnds 9,334 245,071 254,405 12.988 211,122 224,110 Total charity funds 22 These financial statements We￿ approved by the Lx)ard of trustees and authorised for issue on 14 December 2024, and are sKJned on behalf ofthe t#)ard by.. Trustee Tho noles on pages 13 to 23 forn7 part of these financlal statements. 11 Rookie Rockstars statement of Cash Flows Year gnded 31 March 2024 2024 2023 Cash flows from opgratlng actlvities Net incornellexpenditure) 30,295 114,760} Adjustments for.. Dep￿CIation of tsngible fixed assets other interest recewable and similar Income Interesl payable and similar charges Accrued expenses 9,416 (1971 7.C63 100 8,900 (2041 6.270 1.100 Chang88 in.. Trade and other debtors Trade and other cr&Jitors 6,164 569 40,784 1,091 43,181 Cash generated from operations 53,410 Interest paid Interest received (7,0631 197 16,270) 2Q4 Nel cash from operating activities 37,115 Cash flows from Investlng activltles Purchase of tangible asse15 Net cash used in investing activities 12.058) 12,0581 (4,014) 14,014} Cash flows from financing activities Payments of finance ￿ase liabilities Net cash used in finanang a￿1VItieS {1.298) 11.298) 11,298) 11,298) Net increase in cash and cash equlvalents Cash and cash equivalents at beginning ofyear Cash and cash equlval8nts at gnd of year 43.188 181,562 224,750 31,803 149,759 181,562 The notes on pages 13 10 23 fomi part of these financlal statements. 12 Rookie Rockstsrs Notes to the Flnanclal Ststgments Year onded 31 March 2024 General Inforniallon The charity is a public benefft entity and a The address of the principal Off￿ Is islered cha in Scotland and is unincor orated. Statement of ¢ompllan¢• These financial staternents have been wepared in compliance vrith FRS 102, The Financial ReFX)rting Stand8rd applicable in the UK and the RepuiAic of Ir81and', the Statement of Recommended Pr&tice applicable to charities preparing their accounts in accordance wrth the Financial Reporting Standard applicab￿ in the UK and Republic of Ireland IFRS 102) (Charities SORP (FRS 102)) and the Charities and Trustee Investment lkntland) Act 2005 and the Charity Accounts {Scolland) Regulabons 2006 (as amended). Accountlng polSci03 Basis of preparatlon The financial statements have been prepared on Ihe historical cost basis, as rrK)dified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expendI￿re. The financial statements a￿ prepared in sterling. which is the fvnctional currency of the entity. Golng concern There are rK) material unc£rtainties atKArt Ihe charity's abilty to continu8. Judgements and key source8 of 88ttmatlon uncertainty The preparation of the financial statements requi￿$ management to make judgements. estimates and assumptions that affect the a￿unts ￿Fyjrted. These esb'males and judgements are continually reviewed and are based on experience and other facto￿, including expectations of future events that are believed to be reasonab￿ under the urcumstances. Fund accountlng Unrestr￿ted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated fvnds are unrestricied funds eanmarked by the trustees for pathular ftjture project or commitment. Reslricted funds are subjected to restrictions on their eXpendrtU￿ declared by the donor or through the terms of an appeal, and fall into one of iwo Sulkdasses: restricied income funds or endowment funds. 13 Rookie Rockstars Notes to the Flnanclal Statements fconthu8dJ Year ended 31 March 2024 A¢¢ountlng pollcles (conUnuadJ Incoming resources AJI ir￿lming resources are induded in the statement of finan¢ial actNilles when entitlement has passed to the charity.. IE is probable that the ￿onOmIC benefrt5 associated with the transaction will flow lo the charity and the amount can be reliably [TEasUr￿l. The following specthc policies are applied to particular categories of income.. income frorn donations or grants is recognised when there is ev￿￿enCe of entiuemenl lo the gift, receipt is probable and ts amount can be measured reliabty. legacy income is recognised when r￿1p1 is probable and entitlement is established. income from don8ted goods is measured at the Pair value of the goc#Js unless this is impractical lo measure ￿lIa￿. in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are reccgnised in th8 accounts when ￿eNed if the value (xn be ￿liablY measured. No amounts are included for the contribution of general volunteejs. income from ¢ontracts for the suppty of serV￿S is recognised with the delNery of the ¢ontra¢ted seNi¢e. This is d8ssrfied as un￿strICted fvnds unless there is a contraGtual requirement for rt to be spent on a parbcukir purpose and rebjrned if unswl in which case il may be regarded as restricted. Resources expended Expenditure is recognised on an ￿ualS basis as a liabilty is incurted. Expenditure includes any VAT which cannot be fvjlly ￿CoVered. and is classiffed ul￿er headings of the statement of financial activllies to whth it relates.. expenditure on [al￿ng fiJnds indudes the o)sl$ of all fUndra￿Ing actNities, events, non-charitable trading activities, and the Sa￿ of donated goods. expenditure on charitable activities includes all costs incurred by a charity in urnlertaking activities that fijrther tts charitable aims for the benefit of its beneficiaries, induding those support costs and costs relating to the governan￿ of the charity apportioned to charitabie a¢tivitJes. other expenditure includes all exFEndrture that is neither related lo raising funds for the charity nor part of its expenditure on charitable aCtNI￿5. All costs are alloGgtecl to expenditure Ixtegories refiecting the use of the resource. Direct costs attributabie lo a single activty are alliuted directy lo that activity. Shared costs are apportioned be￿een the activities they conthbute to on a reasonable, jusb'fiable and consi8tent basis. Tangible assets Tangible assets are initially recorded at cost. and subsequentty sL*ed at cost any a¢xumulaled depreciation and impairment losses. Any tangible 8ssets carried al revalued amounts are recorded at the fair value at the date of rev21uatiDn less any subwuent accumulated depreciation and subsequent accumulated impairment IDsses. 14 Rookie Rockstars Notès to Ihe Flnanclal Statomonts (conllnuedj Year ended 31 March 2024 A¢countlng pollcles (condnuad) Tangible assets (conllnu8dJ An increase in the carying amount of an asset as a result of a revaiualion, is recogni5ed in other recognised gains and losses, unless r( reverses a charge for impaim*nt that has previously been recognised as expenditure within the slalement of financial aclivities. A decrease in the carrying amunl of an asset as a result of revaluation. is recognised in other recognised gains and losses, eX￿p1 to which It offsets any previous revaluation gain. in whth case the loss is shown within other recognised gains and losses on the statement of financial activib'es. Dgpreclatlon Depwialion is calculated so as to wrtte off the cost or valuation of an asset, less its residual value, over the uselul economr life of that asset as folk)ws: Motor vehi¢le$ Equipment 50% straight line 33% straight line Impalmient of fixed assots A review for indicators of 1mpairff￿nt is carried out at e&h reporting date, wth the recoverable amunl being estimated where such indutors e￿5t. ￿trere the ca(rying value exceeds the recoverable amoun( the asset is impaired ￿1rdInglY. Prior impalm￿nIS are also reviewed for possible reversal at each rewrting date. For the purposes of impainnent testing, when il is not p)ssible to estimate the recoverdbk amount of an indNidual asse( an esb.male is made of the recoverable amount of the cash-generdting unit lo which the asset bekjngs. The cash-generating unit is the smallest KIentifia￿e group of assets that irldudes the asset and generates cash inflows that largely indepe￿ent of the (xsh inffows from other assets or groups of assets. For Impalm￿nI testlng of goothwll, the g(xJdwill wuired in a busines5 combination is. from the a￿Ul81bon dale, 211ocaled to each of the cash-gerlerating units that are expected to benefit from the synergies of the combination, iffespectNe of whether other assets or liabill￿S of the charity are assigned to those units. Finance leas# and hire pur¢ha$e ¢ontra¢ts Assets held under fi'nance leases and hire purchase contracts are recognised in the statement of finanual position as assets and liabilities al the lower of the fair value of the assets and the present value of the minimum l&qse PayTh￿nts: which is de1emiln￿ al the inception of the lease term. Any initial direct costs of the lease are added to the arn(wnt ret￿nised as an asseL Lease payments are apportioned beiween the ffi￿ar￿e charges and reduction of the outstanding lease liabilty using the effective interest meth(xY. Finar￿e charges are alh)cated to eaoh period so as lo produce a constant rale of interest on the remaining balance of the liability. Flnanclal Instruments A financial asset or a financial liabilrty reC￿niSed onty when the charity becomes a party to the contractual provisions of the instrumenl Basic financial instruments are iniknalty recognis&Y at the ar￿Unt receivab￿ or payable including any related transaction costs. 15 Rookie Rockstars Notes to the Flnanclal Statements (conthjuedj Year ond9d 31 March 2024 Accountlng pollcles (conllnu8d) Financial instruments (conllnuedl Current assets and current liabilities are subsequently measured at the crtgsh or other consideration expected to be paid or received and not discoun￿1. Debt instruments are subsequenuy measured at amottised cosL W)ere investments in shares are publicly traded or their fair value can otherwse be measured reliably, the investment is Stjbsequenty ￿￿sured at fair value with changes in fair value recognised in income and expenditure. Al other SLKh investments are subsequentty measured at cost less impairment. Other financial inslruments, induding derivauves. a￿ inlbalty reccgnised at fair value, unl8ss payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured al the present value of the fulure payments discounted at a market rate of interest for a similar debt instrumenL Other financial instruments are subsequenty measured ai frdir value, with any changes recognised in the statement of financial aclNittes, with the excepbon of hedging instruments in a esignated hedging relationship. Financial assets that are measured at cost or amortised o)st are reviewed for objectivg evidence of impairment at the end of each reporbng date. If there i8 objective evidence of impairmenL an Impaimlent loss is recognised under the appropriate heading in the slatement of financial activities in wh￿h the initial gain was recogni5ed. For all equity instruments regardless of signrfK3nce, and other financial assets that are individualty significan( these are assessed indtvidualty for impain￿nt. Other financial assets are either assessed indivKlualty or grouped on the basis of similar Gredit risk charxlerislics. Any reversals of impaim*nt are recognised imfflediatety, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the (xrrying amount would have been had the impaimient not prevKxJ5ty been recognised. Deflned contributlon plans Contributions lo defined ujntribution plans are recognised as an expense in the period in which the related servK* is provided. Prepaid contributions are recognised as an asset lo the extent that the prepayment will lead to a reduction in future payments or a cash re￿nd. en contributions are not ex￿ed to be settled wholty within 12 months of the end of the reporting dale in which the employees render the rplated setvice, the liability is measured on a discounted present Value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Donations and leg•Gies Unrestricted Funds Restricted Total Funds Funds 2024 Donations Oonalions 32,919 6,240 39,159 16 Rookie Rockstars Notes io tha Flnanclal Statements (conVnu8d) Year ended 31 March 2024 Donations aTrd1ggacl95 (¢¢)n¢iftu Unres￿led Funds Restricted Total Funds Funds 2024 Grants Grants- Rookie Minds Grants- MUS￿ School Grants - Rookie Rockstars Grants - Local Authorities Grants-After School Club 52,098 52.098 3,CN)O 1,800 4.800 35,919 60,138 96,057 Unrestricted Funds Restricted Total Funds Funds 2023 Donatlons Donations 28.319 28.319 Grants Grants- Rookie Minds Grants- Music Schc