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2021-03-31-accounts

Company number: 03313253 Charity Number: 1061313

Roundabout Limited

Report and financial statements For the year ended 31 March 2021

Roundabout Limited

Reference and administrative information

for the year ended 31 March 2021

Company number 03313253

Charity number 1061313

Registered office and operational address 13 – 17 St Barnabas Road, Sheffield, S2 4TF Council of Management/Trustees

The Council of Management comprises all of the trustees who are also directors under company law. The trustees who served during the year and up to the date of this report were as follows:

John Caldwell - Chair Elisabeth Arundale Scott Bailey Kevin Docherty Zahid Hamid Joel Hanna Julie MacDonald Karen Moxham Amar Tembe Gareth Young Key management Ben Keegan - Chief Executive personnel Tracey Jackson - Deputy Chief Executive Rose Doherty - Head of Accommodation Services Sue Watts - Head of Finance

Bankers Lloyds Bank High Street Sheffield S1 2GA Auditors Hart Shaw LLP Europa Link Sheffield Business Park Sheffield S9 1XU

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Roundabout Limited

Report of the Council of Management

for the year ended 31 March 2021

The Council of Management is pleased to present its report and the audited financial statements for the year ended 31 March 2021 which are also prepared to meet the requirements for a director’s report and accounts for Companies Act purposes. This year has been hugely influenced by the Covid-19 Pandemic and the Council of Management would firstly like to acknowledge the immense dedication and commitment given by the Roundabout staff team during this period. Staff members in our residential settings have continuously worked throughout the pandemic, ensuring that the vulnerable young people that Roundabout supports have safe and supportive places to live.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and Activities

Our Aims and Objectives

The objects of the charity are to benefit the public by providing support and accommodation in South Yorkshire and North East Derbyshire for homeless young people who are in conditions of need, hardship or distress and to assist in the resettlement and rehabilitation of young people into the community. The principal activities of the charity are the provision of emergency and medium-term accommodation for young people who are homeless and advice and support for young people taking up their own tenancies and related support services.

Roundabout Limited is a Company Limited by Guarantee and a Registered Charity, with a Council of Management currently comprising ten trustees. Day to day management functions are delegated to the Chief Executive, supported by the senior managers and the staff team.

Ensuring Our Work Delivers our Aims

We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our aims, objectives and activities remained focused on our stated purposes. We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

Focus of our Work

The Vision for Roundabout Limited, as laid out in its Strategy Map is that our region is free from youth homelessness, all young people have a place to call home and have the support they need to keep it.

Our Mission, Values and Ethos:

Is to ensure that the housing needs of every vulnerable young person in our region is met with high quality, personalised services.

Over the last financial year Roundabout has tried to meet these aims by;

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Activities

Our main activities and who we try to help are described below. All our charitable activities focus on the needs of young homeless people and are undertaken to further our charitable purposes for the public benefit.

Roundabout has been providing an emergency hostel for young people with housing and support needs in Sheffield since its formation in 1977.

The charity also works with young offenders in insecure accommodation and those leaving custodial sentences. Roundabout also provides housing and support to young people aged 16-17 who are in the care of Social Services. We have a Resettlement Service that houses and supports both young offenders and care leavers in private rented accommodation across Sheffield.

In 2020 we opened our 5[th] Group living house for young people predominately aged 16 or 17 who are in the care of the local authority.

Roundabout also provides additional housing support services for young people which include tenancy support for young people needing assistance to live in their own homes; a Homeless Prevention Service providing advice to young people with housing issues who are in danger of becoming homeless; a family mediation service and tailored support to enter training and employment.

In June 2019 Roundabout created a new service named Rapid Rehousing Service that focuses on meeting the needs of young people that have slept rough in our region.

In August 2019 Roundabout commenced a 3 year contract with Rotherham Borough Council to provide accommodation and support for 83 young people at any one time.

Roundabout works exclusively with young people aged 16 - 25.

Achievements and Performance

Housing:

Roundabout Hostel

Roundabout’s hostel provides safe accommodation for 27 single young people aged 16 to 21 on an emergency and medium stay basis. Accommodation is provided in single en-suite bedrooms or selfcontained flats.

Occupancy for the year in our hostel was 91.6%, compared to 92.40% in the previous year.

The hostel continues to receive funding via rental income from young people and funding from Sheffield City Council Housing Independence Service.

Roundabout’s skills training delivered by key-workers, continues to be well attended and assists young people to develop the practical skills they need to sustain their own tenancy. The activities programme

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budget is controlled by the young people, who decide how and when to spend the money – this is for many, their first introduction to participation in a service and encourages them to become more involved in participation, discussions and giving their views on other aspects of Roundabout’s services.

Roundabout Resettlement Team

This project works in three parts, with Sheffield Youth Justice Service (YJS), Social Services Children and Young People Department and Rapid Rehousing. Within the Sheffield Youth Justice project, this service houses and supports young people who are referred by the Youth Justice System. Primarily this applies to young people on remand, in custody or at risk of custody. Roundabout provides a stable address and support within the community.

The Resettlement team also provides housing and support to young people aged 16 and 17 preparing to leave care.

The Rapid Rehousing element of the service provides accommodation and support to young people who have experienced rough sleeping in our region.

As at 31 March 2021, Roundabout had 63 units of single occupancy accommodation in Sheffield.

Additionally the service provides both one-off housing advice and signposting for young people associated with the Youth Justice Service and works on a longer term basis with young people needing more intensive support via a worker permanently based within Sheffield Youth Justice Service.

Occupancy for the year across the Resettlement Team properties was 90.26% (2020: 92.64%).

Roundabout Group Living

Since 2012 Roundabout has been providing Group Living Accommodation for young people who are in the Care of the local authority aged 16+. Each house has staff on site 24 hours and we can house a total of 28 young people at any one time across five properties in these services. Whilst living at this project, young people practice their independent living skills before moving into their own tenancy.

In April 2019 Roundabout purchased a Group Living property to house and support 6 young people. A major refurbishment program was undertaken during the financial year and young people moved into the property in November 2020.

Housing Support:

Roundabout Supporting Tenants

Supporting Tenants is a project that supports young people living in their own home. The service works across the whole of Sheffield and supports young people living in council, housing association and private rented accommodation. The service is funded by Sheffield City Council, Housing Independence Service.

Supporting Tenants works in partnership with young people to provide the level of support necessary for them to maintain their own tenancies and empowering them to continue this once support has been withdrawn.

The service received 106 referrals and the scheme supported 128 young people in their own tenancies in the year. 55 young people ended support during the year, with 51 leaving as part of a planned process. Overall, 93% of the young people leaving the scheme in the year were supported to successfully maintain their own tenancies in that year.

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Roundabout Homeless Prevention Service

Roundabout is strongly committed to preventing young people from becoming homeless and believes home is the best place to be if it is safe to be there. In July 2014, we therefore created a young people’s Homeless Prevention Service operating from 22 Union Street, Sheffield. The service provides advice to young people aged 16 to 24 with housing issues, who are in danger of becoming homeless. Where possible, the service works with the whole family offering mediation between the young people and their parents, helping them to find solutions to problems enabling a safe return home. Young people who cannot return home are supported to access appropriate accommodation whether that be emergency housing, supported housing, social housing or private rented sector housing.

The service was originally funded from grants from various trusts and commercial and public donations. However in July 2016, Roundabout received a grant from the Big Lottery Reaching Communities Fund which has allowed us to expand and enhance the service and will ensure sustainability of the service for the next five years.

Roundabout assisted 363 young people at the drop-in service between April 2020 and March 2021. Awareness of the service remains high, peaking with an attendance of 48 young people during one month in the year. Of the 363 young people receiving support: 31.6% stayed at home or returned home; 27.2% were assisted to access accommodation (including hostels or other temporary accommodation, private rented accommodation, council or other social housing and other supported accommodation) and 22.5% were given advice and assistance with issues including housing benefit, welfare benefits, utility problems, employment and training needs and health and well-being needs, all of which helped to ensure their tenancy would be maintained. In January 2018 Sheffield City Council and Roundabout fundraising income funded an additional Advice Worker post in the Prevention Service with the specific aim of reducing the number of young people that needed to move in to hostels or other supported accommodation.

The Homeless Prevention Service encompasses Roundabout’s Schools Peer Education service that aims to prevent young people becoming homeless by educating young people in schools on the realities of becoming homeless. This year the service was unable to operate as normal due to Covid-19 restrictions, but we were able to hold video link sessions with some young people in some schools.

Our dedicated team of Peer Educators are all young people who have experienced homelessness themselves. When able to, they visit Personal, Social and Health Education lessons in secondary schools across Sheffield. The lessons aim to raise awareness of youth homelessness, break down stereotypes and explore the reasons young people become homeless using real life stories. The sessions also inform young people about local organisations that can help with problems at home (including Roundabout’s Mediation Service).

Mediation

In September 2015, Roundabout employed its first Mediation Worker to support young people to stay in the family home, rather than enter any of Roundabout’s other services. The Mediation Worker is funded by a grant from Children in Need that was extended in October 2018 for a further 3 years. The mediation workers work intensively with young people and parents to understand each other’s perspectives in areas of conflict and reach agreements that allow the young people to stay in the family home, until they can move out in a supportive planned way.

The service has received 106 new referrals between April 2020 and March 2021. A total of 1,289 mediation sessions were held throughout the year. These included telephone sessions as well as face to face. January 2021 was the busiest month, with 11.2% of all sessions taking place this month.

75.2% of the session attendees were aged 17 or under. All of the young people receiving support from the Mediation Service have avoided homelessness: 52.8% stayed within or moved back to the family

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home; 11.6% moved into appropriate safe supported accommodation; 5% were able to maintain their own accommodation and 18.5% moved into accommodation with other family or friends.

In January 2018 Roundabout received funding from Sheffield City Council to employ another part-time Mediation Worker as part of a 12 month pilot project aimed at reducing the number of young people that leave home to move to a hostel or other supported housing. At the end of the pilot project, Roundabout won a competitive tender to continue to deliver this service.

Private Rented Service

In July 2017 Roundabout received funding from End Youth Homelessness to help and support young people to access Private Rented Accommodation across South Yorkshire. The project will help at least 35 young people each year to access and maintain accommodation with Private Landlords.

In 2020-21, the service supported 37 young people to obtain their own private rented tenancy.

Employment and Skills Job Coach

Roundabout identified a strong need for dedicated employment focused support for the young people in its services and in December 2016 Roundabout received a grant from H & M Foundation to fund an Employment and Skills Job Coach. The grant is part of a programme of support the H & M Foundation is providing through the End Youth Homelessness Alliance. The Employment & Skills Jobs Coach ensures that the young people are supported through the process of establishing and applying for training and jobs by helping them to write a CV, to develop interview skills and to apply for appropriate training and employment. The Job Coach also works with local employers to broker work experience and job opportunities for young people.

In 2020-21, a total of 32 young people were supported by our Employment and Skills keyworker. 2 young people were supported into education and 3 were supported into employment or training. This year 8 young people that Roundabout supported obtained places at University.

Future Build Project

In November 2017 Roundabout received funding from OVO Energy Foundation to deliver a Future Build Project that supports 9 young homeless people to refurbish a property that they will be able to live in once the refurbishment is completed. Roundabout has obtained three properties from Sheffield City Council for this project. The young people work alongside professional contractors and learn basic skills around skilled trades involved in the refurbishment. The aim is that young people are able to find work in the trades or associated sectors and live in the properties at an affordable rent.

Throughout the year, 13 young people were involved in the project. The service has been at maximum capacity for 98% of 2020 – 2021.

Roundabout Volunteer Programme

Volunteers have helped enhance services to young people both on a one to one basis offering mentoring and outreach support to young people and also by supporting group learning sessions, participation and activities. We also have volunteers who help us with fundraising, publicity and administration.

Roundabout received support from several volunteers in the year to 31 March 2021: 8 Events Management volunteers from Sheffield Hallam University supported Roundabout with the planning and organisation of the musical theatre drive-in project. 50 volunteers worked on research tasks throughout the year. 2 more volunteers assisted with the Great Virtual Duck Race. We also had Pulp’s Nick Banks volunteer to present our online Quizmas event and BBC Radio Sheffield’s Paulette Edwards volunteered as our presenter for the 2020 Christmas Carol event.

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The volunteers all make a significant contribution to Roundabout’s services and we are extremely grateful for all the support they provide.

Summary of Activities

Roundabout is working constantly to ensure the continuation of our activities and is also looking to the future and working with young people to identify other ways of meeting their housing and support needs. In a year that has been dominated by the Covid-19 pandemic, Roundabout has continued to strengthen its links with other initiatives to ensure that young people have access to appropriate provision, both within and outside of Roundabout, to meet their education, training and employment needs and health, social and other personal issues. We are also involved in relevant strategic initiatives in the city and we continue to work with the Youth Justice Service on issues facing young people who are offenders or at risk of offending.

With all of the activity outlined above, Roundabout supported a total of 1,085 young people in 2020-21 who were homeless or at risk of homelessness. The focus for the year has been to develop services and diversify income.

Over the last 12 months, Roundabout has received vital support from an array of organisations, groups and individuals. We would like to thank everyone who has taken part in, or attended one of our fundraising events, volunteered their time or made a donation to our cause.

Due to the Covid-19 pandemic and associated restrictions, we were unable to hold our second Bangers and Cash car rally as we had planned. The loss of this expected fundraising income was largely replaced with a Government grant from a fund that was established to help homelessness charities that suffered financially through the pandemic.

Ending Youth Homelessness

Roundabout has an aim and a commitment that no young person should need to sleep rough in our region.

Roundabout Operational Strategy:

Roundabout’s aim is to provide a complete portfolio of prevention and accommodation options for all 16-25 year olds in the Sheffield City Region.

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Local Policy:

National Policy:

Property Ownership

In April 2019 Roundabout purchased a 6 bed property at auction for the purpose of housing and supporting looked after children in Sheffield. This property required extensive refurbishment work that was funded via a grant from The LandAid Foundation, together with trust income and significant donations. The refurbishment was completed in November 2020.

In October 2020 Roundabout purchased a one bedroom property in Sheffield that is being used to house and support a young person that has previously experienced rough sleeping.

Financial review

Roundabout’s total surplus for the financial year was £134,172. This was comprised of an unrestricted surplus of £119,304 and a restricted surplus of £14,868.

Roundabout’s total income for the year was £4,458,964 compared to £3,345,750 in the previous year. This represents a 33.3% increase in Roundabout’s income year-on-year and is as a result of:

Roundabout’s total expenditure for the year was £4,324,792 compared to £3,367,385 in the previous year. This represents a 28.4% increase in Roundabout’s income year-on-year and is as a result of:

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Reserves and reserves policy

Roundabout’s total reserves at the year-end were £1,442,431 compared to £1,308,259 at the end of the previous financial year. Of the £1,442,431:

£96,322 is restricted by the donor/grant provider for specific expenditure in the forthcoming financial year.

£512,150 is designated as a land and buildings reserve to reflect the funds invested in our hostel property at 11 St Barnabas Road and a group living property at Glencoe Road. The illiquid nature of these assets necessitates that these funds are therefore not available to meet day-to-day expenditure.

£Nil funds have been designated by the trustees as a specific development fund. The remaining general funds will be used to continue to grow and develop the services across the organisation.

£833,959 is the balance of general funds available to meet the operating requirements of the charity. The funds include an investment property currently valued at £65,000 and tangible fixed assets with a net book value of £177,120.

The Charity’s Reserves Policy recommends that general funds should be held to fund approximately three months of unrestricted costs in order to meet unforeseen contingencies and to ensure that the charity can run efficiently and meet the needs of its beneficiaries. This is currently estimated at approximately £1,073,207 for the forthcoming year, against general funds of £833,959 which includes the investment asset and other tangible fixed assets.

The Reserves Policy has been reviewed in line with the expansion of operations, including Rotherham, and the associated risks, including those impacted by Covid-19. The Trustees are confident that the current level of unrestricted reserves are adequate for the foreseeable needs of Roundabout Ltd.

Fundraising

In a year dominated by the Covid-19 pandemic, where all face to face events were cancelled, social groups were unable to meet, many businesses changed to home working and trusts and foundations diverted much of their funding to emergency support for charities through the pandemic, the team worked creatively to generate income and increase awareness. Brand new virtual events enabled us to reach a new and diverse audience which helped to grow the database and increase our profile and following, resulting in 595 new donors throughout the year. Despite one of the fundraisers being furloughed for 6 months, the team nurtured current supporters through increased communications, utilising the now familiar video channels to keep in touch. With concerning news dominating the local and national media, we had excellent coverage in printed and on-line press and radio coverage, showcasing not only our events and fundraising opportunities, but also our continuous and diverse support and the successes of our young people.

A key highlight of the year was successfully covering the entire cost of the refurbishment of one of our group living projects through trusts, foundations and corporate support. We also received higher than anticipated corporate donations, particularly at Christmas, resulting in a total of £37,000. Three major donors (classed as a gift of £2,000 or more) gave a total of £12,000. A relationship with a local Masonic group led to over £5,000 in donations and gift vouchers at Christmas. Regular givers increased from 84 to 111 people throughout the year, with monthly donations increasing from £1,421 to £2,513, an

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increase of over £1,000 per month. In addition to fundraised income, the team sourced donated items with an estimated value of £35,000.

We improved our planned regular communications to include a Christmas video; quarterly e- newsletters; an awareness campaign; and planned communications to regular givers.

Roundabout’s small team of 4 fundraisers oversee all fundraising activity following the Code of Fundraising Practice and in compliance with the Fundraising Regulator and GDPR. No other professional fundraisers have been involved during this financial year. We don’t do any face to face fundraising and we collect and follow the communication preferences from all supporters.

A dedicated member of the team will oversee any fundraising by groups and individuals on behalf of the charity, advising them on the legal requirements to ensure they also follow best fundraising practice. This can include people doing individual challenges and group fundraising activities from social groups, companies, and other organisations. Regular communications from initial contact to after the event ensures all external fundraisers receive the advice they need to fundraise ethically and in compliance with the Code of Fundraising Practice.

Roundabout has had no compliance issues and has not been under investigation.

Roundabout received no complaints in regards to their fundraising or fundraising practices during the year.

The Roundabout fundraising team all have relevant qualifications and training on fundraising compliance and will refer to the Code of Fundraising Practice if they have any doubts or concerns relating to potentially vulnerable people in a particular situation. Any concerns can be discussed immediately with the manager of the team. Roundabout shares true and accurate information which will inform the public of the work of the charity, and suggest ways to help, without making people feel pressured into support.

Plans for the future

It is a major part of Roundabout’s ethos to strive for continuous improvement in both the management and delivery of our services, to ensure they continue to be relevant and effective in meeting the stated needs of young people who are homeless or at risk of homelessness. Roundabout will continue to work closely with national and local organisations to try to ensure that outcomes are successful both for Roundabout itself and for the homeless young people we support.

The last 12 months have been dominated by Covid-19 and as we write this document in July 2021, Covid-19 is still extremely prevalent. It is therefore very difficult to plan with any certainty how we will be able to develop services in the future and predict what the needs of the young people we support will be moving forward.

We know already that there is a much greater demand on funds as the country attempts to recover from the Covid-19 pandemic. As charities efforts to fundraise have suffered over the last 18 months, there is much greater competition for all sources of income. 2021/22 is unprecedented in Roundabout’s history in terms of our funding cycle and contracts coming to an end. Our 5 year lottery funding and 3 year Children in Need funding come to an end this year. We will also need to compete in a tender process to keep our Sheffield City Council funded Hostel, Supporting Tenants and Mediation services.

Our main priority this year will be to maintain the services we currently run, but there are always new challenges and new needs that need to be met. This year we plan to open a new service to house young people with relatively low support needs. In the last year we have seen a growing number of young people that are very capable in many ways, but simply have nowhere safe to live. We also plan to open

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a small house specifically for young asylum seekers that have legally come to this country but have no parental support.

Structure, governance and management

Governing Documents

The organisation is a charitable company limited by guarantee, incorporated on 5 February 1997 and registered as a charity on 15 March 1997.

The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 March 2021 was 10 (2020:10). The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Recruitment and Appointment of Trustees

The directors of the company are also charity trustees for the purposes of charity law and constitute the Council of Management. The Roundabout Limited Council of Management seeks to ensure that the needs of the organisation are appropriately reflected through the diversity of the trustee body.

Induction and Training of Trustees

All trustees are provided with regular updates on new legislation and practices which encourages trustees to play an active role in the effective leadership of our organisation. Trustees attend training and seminars relating to governance of the charity.

Organisational Structure

The Council of Management has overall responsibility for decision making in the organisation. The Council of Management defines the strategic direction for the organisation. The Chief Executive (Ben Keegan) has responsibility for the operational management of the organisation supported by a Deputy Chief Executive (Tracey Jackson), with specific responsibility for quality standards, training and policy review.

Roundabout has nine teams - St Barnabas Road Hostel, Supporting Tenants, Rotherham, Doncaster, Resettlement, Group Living Sheffield, Homeless Prevention, Fundraising and Central Services.

Related parties and relationships with other organisations

Roundabout Limited does not have any subsidiary undertakings or formal relationships with other organisations.

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity or donations made to the charity are set out in note 12 to the accounts.

A conflict of interest policy is in place which requires trustees and staff to disclose any transactions with Roundabout in which they, a member of their family or an associated company or organisation are connected. Trustees and senior management complete a related parties declaration on an annual basis which provides details of any other companies or organisations they are connected with.

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Remuneration policy for key management personnel

The pay and remuneration of the charity’s key management personnel is reviewed annually by the trustees.

Risk management

The trustees have identified and considered the major risks to which the charity may be exposed and the trustees are satisfied that appropriate systems and procedures are in place to manage and mitigate those risks.

Roundabout continues to operate tight budgetary controls and looks forward to maintaining its financial health in the coming year.

Statement of responsibilities of the trustees

The trustees (who are also directors of Roundabout Limited for the purposes of company law) are responsible for preparing the Report of the Council of Management and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Auditors

Hart Shaw LLP were re-appointed as the charitable company's auditors during the year and have expressed their willingness to continue in that capacity.

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This report has been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime of the Companies Act 2006.

The Report of the Council of Management has been approved by the trustees on 27[th] September 2021 and signed on their behalf by

John Caldwell

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Opinion

We have audited the financial statements of Roundabout Limited (the ‘charitable company’) for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Report of the Council of Management, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the Report of the Council of Management. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we

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are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report and the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 12, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the

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aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Extent to which the audit was considered capable of detecting irregularities, including fraud and the audit response

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We have assessed the overall susceptibility of the financial statements to material misstatement due to irregularities as low.

At the planning stage we identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience and through discussion with the trustees and other management, as required by auditing standards. The potential effect of any laws and regulation on the financial statements can vary considerably. There are laws and regulations that directly affect the financial statements (e.g. the Companies Act) as well as many other operational laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements. Owing to the size, nature and complexity of the organisation and the applicable laws and regulations to which it must adhere, the risk of material misstatement was deemed to be low, therefore the procedures performed by the audit team were limited to:

We have assessed the overall susceptibility of the financial statements to material misstatement due to fraud as low because the nature of the business does not particularly lend itself to fraud.

Management override is inherently high risk on any audit. Management override, which may cause there to be a material misstatement within the financial statements, may present itself in a number of ways, for example:

In order to reduce the risk of material misstatement to an acceptable level, numerous audit procedures were performed including:

16

Independent auditors’ report

to the members of

Roundabout Limited

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected material misstatements in the financial statements, even though we have performed our audit in accordance with auditing standards. Furthermore, as with all audits, there is a higher risk of irregularities (especially those relating to fraud) being undetected, as these may involve the override of internal controls, collusion, intentional omissions and misrepresentations etc. We are not responsible for preventing non-compliance or fraud and therefore cannot be expected to detect all instances of such. Our audit was not designed to identify misstatements or other irregularities that would not be considered to be material to the financial statements. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standards-andguidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-foraudit.aspx. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Hannah Jones (Senior Statutory Auditor)

for and on behalf of Hart Shaw LLP

30 September 2021

…………………………

Chartered Accountants Europa Link Statutory Auditor Sheffield Business Park Sheffield S9 1XU

17

Roundabout Limited

Statement of Financial Activities (including Income and Expenditure account) for the year ended 31 March 2021

Note
Income
Donations and legacies
3
4
5
Investment income
6
Total income
Expenditure
Costs of raising funds
7
8
Total expenditure
10
Transfer between funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
Income
from
other
trading activities
Net
income/(expenditure)
Expenditure on
charitable activities
Net movement in funds
for the year
Income from charitable
activities		 Unrestricted
funds

£
233,965
3,602,903
-
8,089
3,844,957
167,794
3,557,859
3,725,653

119,304
-
119,304
1,226,805
1,346,109		 Restricted
funds
£
254,898
359,109
-
-
614,007
-
599,139
599,139
14,868
-
14,868
81,454
96,322		 Total funds
2021
£
488,863
3,962,012
-
8,089
4,458,964
167,794
4,156,998
4,324,792
134,172
-
134,172
1,308,259
1,442,431		 Unrestricted
funds
£
191,451
2,831,017
-
8,773
3,031,241
125,260
2,880,255
3,005,515
25,726
3,845
29,571
1,197,234
1,226,805		 Restricted
Total funds
funds
2020
£
£
6,484
197,935
308,025
3,139,042
-
-
-
8,773
314,509
3,345,750
-
125,260
361,870
3,242,125
361,870
3,367,385
(47,361)
(21,635)
(3,845)
-
(51,206)
(21,635)
132,660
1,329,894
81,454
1,308,259

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

18

Roundabout Limited

Company number 3313253

Balance sheet as at 31 March 2021

Note
Fixed assets
Tangible assets
14
Investments
15
Total fixed assets
Current assets
Debtors
16
Cash at bank and in hand
Total current assets
Liabilities
Creditors: amounts falling
due in less than one year
17
Net current assets
Total assets less current liabilities
Net assets
The funds of the charity:
Restricted income funds
19
Unrestricted income funds
20
Total charity funds		 £
£
689,270
65,000
754,270
355,106
678,844
1,033,950
(345,789)
688,161
1,442,431
1,442,431
96,322
1,346,109
1,442,431
2021		 £
£
655,549
65,000
720,549
321,927
502,465
824,392
(236,682)
587,710
1,308,259
1,308,259
81,454
1,226,805
1,308,259
2020		 £
£
655,549
65,000
720,549
321,927
502,465
824,392
(236,682)
587,710
1,308,259
1,308,259
81,454
1,226,805
1,308,259
2020
720,549
587,710
1,308,259
1,308,259
81,454
1,226,805
1,308,259

The notes on pages 21 to 34 form part of these accounts.

Approved by the trustees on 27th September 2021 and signed on their behalf by:

J Caldwell K Moxham

19

Roundabout Limited

Statement of Cash Flows for the year ending 31 March 2021

Note
Cash provided by/(used in) operating activities
24
Cash flows from investing activities:
Dividends, interest, and rents from investments
Proceeds from sale of tangible fixed assets
(Purchase)/donation of tangible fixed assets
Cash provided by/(used in) investing activities
Increase/(decrease) in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Total cash equivalents at the end of the year		 2021
£
221,540
8,089
-
(53,250)
(45,161)
176,379
502,465
678,844		 2020
£
(2,520)
8,773
1,250
(189,199)
(179,176)
(181,696)
684,161
502,465

20

Roundabout Limited

Notes to the accounts for the year ended 31 March 2021

1 Accounting policies

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Roundabout Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b Preparation of the accounts on a going concern basis

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.

c Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Net rent receivable represents the annual housing benefits attributable to the properties together with the residents' own contributions, less corresponding amounts for periods of nonoccupancy. Rents not collectable are included as bad debts under 'Expenditure on Charitable Activities'.

Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.

21

Roundabout Limited

Notes to the accounts for the year ended 31 March 2021 (continued)

d Donated goods, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised and refer to the trustees’ annual report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

e Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

f Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity.

Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.

Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

g Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

h Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 9.

22

Roundabout Limited

Notes to the accounts for the year ended 31 March 2021 (continued)

i Operating leases

Operating leases are leases in which the title to the assets, and the risks and rewards of ownership, remain with the lessor. Rental charges are charged on a straight line basis over the term of the lease.

Leases on photocopier equipment in place on the transition date for FRS 102 (1 April 2014) will continue to be classified as operating leases until the expiry of the contract. Expenditure on improvements and additions to premises occupied under short-term leases is not capitalised.

j Tangible fixed assets

Individual fixed assets costing £1,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:

Freehold buildings 2%
Motor Vehicles 33%

Depreciation is charged when the asset is brought into use.

Freehold and long leasehold properties owned and that are suitable for the client base are capitalised at the initial purchase price plus costs associated with putting the property into a habitable condition on a fully furnished rental basis. Fixtures and fittings are replaced when necessary, the costs being charged to revenue.

The trustees review annually the net book value of the properties.

k Fixed asset investments

The charity's fixed asset investments comprise investment property. The investment properties were initially recognised at transaction value and are subsequently measured at their fair value as at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluation at the balance sheet date.

The Charity does not acquire put options, derivatives or other complex financial instruments.

l Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

m Current asset investments

The charity's current asset investments comprise investment property held for sale. The investment properties were initially recognised at transaction value and are subsequently measured at their fair value at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluation at the balance sheet date.

n Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

23

Roundabout Limited

Notes to the accounts for the year ended 31 March 2021 (continued)

o Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

p Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

q Pensions

Employees of the charity are entitled to join a defined contribution 'money purchase' scheme operated by Standard Life. The charity's contribution is restricted to the contribution disclosed in note 11. There were contributions outstanding at the year end of £17,468 (2020: £12,844)

Pension contributions are allocated to activities and restricted/unrestricted funds on the same basis as employees' salaries.

2 Legal status of the charity

The charity is a company limited by guarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office address is disclosed on page 1.

24

Roundabout Limited

Notes to the accounts for the year ended 31 March 2021 (continued)

3 Income from donations and legacies

Donations
Legacies
Other		 Unrestricted
£
182,965
51,000
-		 Restricted
£
19,398
-
235,500		 Total 2021
£
202,363
51,000
235,500		 Unrestricted
£
191,451
-
-		 Restricted
£
6,484
-
-		 Total 2020
£
197,935
-
-
233,965 254,898 488,863 191,451 6,484 197,935

Other income from donations relates to various funding received towards the refurbishment at a new Group Living project at Glencoe Road. Grant funding of £120,000 was received from Land Aid, together with significant donations and trust income from various other parties.

4 Income from charitable activities

Housing
Hostel:
Net rent receivable
Supporting People
Student placement fees
Resettlement Housing:
Net rent receivable
Support services
Sheffield Youth Justice Service
Student placement fees
Other Income
Total Housing Income
Housing Support
Supported Tenancy:
Supporting People
Student placement fees
Homeless Prevention:
Big Lottery Reaching Comm.
BBC Children in Need
Private Rented Sector
HPS Mediation
Rapid Rehousing MHCLG
Rapid Rehousing Nationwide
Other Support Projects:
H & M Foundation
Future Builders
SIB Foundation
Covid-19
Total Housing Support Income		 Unrestricted
£
392,355
284,686
75
1,353,626
574,547
59,312
-
-		 Restricted
£
-
-
-
-
-
-
-
-		 Total 2021
£
392,355
284,686
75
1,353,626
574,547
59,312
-
-		 Unrestricted
£
379,983
270,422
125
1,032,913
500,956
59,312
11,488
-		 Restricted
2020
£
£
-
379,983
-
270,422
-
125
-
1,032,913
-
500,956
-
59,312
-
11,488
-
-
2,664,601
760,034
10,444
-
-
-
-
-
-
-
-
-
167,824		 -
-
-
75,362
38,273
49,257
30,186
88,349
25,000
18,450
34,232
-
-		 2,664,601
760,034
10,444
75,362
38,273
49,257
30,186
88,349
25,000
18,450
34,232
-
167,824		 2,255,199
575,818
-
-
-
-
-
-
-
-
-
-
-		 -
2,255,199
-
575,818
-
-
73,874
73,874
36,126
36,126
33,938
33,938
29,004
29,004
63,333
63,333
25,000
25,000
18,450
18,450
28,300
28,300
-
-
-
-
938,302 359,109 1,297,411 575,818 308,025
883,843
3,602,903 359,109 3,962,012 2,831,017 308,025
3,139,042

25

Roundabout Limited

Notes to the accounts for the year ended 31 March 2021 (continued)

5
Income from other trading activities
Housing Management Services
All income from other trading activities is unrestricted.
6
Investment income
Income from bank deposits
Rent - investment property
All investment income is unrestricted.
7
Cost of raising funds
Fundraising staff costs - salaries
Fundraising staff costs - other
Fundraiser's Fees
Fundraising events
Marketing and promotional costs
Travel
Office Costs
Premises
Support costs (see note 9)
Governance costs (see note 9)		 2021
£
-
-
2021
£
163
7,926
8,089
2021
£
120,459
1,189
11,159
7,546
2,279
28
7,898
9,297
1,637
6,302
167,794		 2020
£
-
-
2020
£
1,199
7,574
8,773
2020
£
91,169
4,493
-
3,821
5,354
550
5,531
4,840
1,858
7,644
125,260

All expenditure on cost of raising funds is unrestricted.

26

Roundabout Limited

Notes to the accounts for the year ended 31 March 2021 (continued)

8 Analysis of expenditure on charitable activities

Staff costs - Salaries
Staff costs - Other
Premises
Administration
Project costs
Depreciation
Total
Governance costs (see
note 9)
Support costs (see
note 9)		 Hostel
Resettlement
Housing
£
£
432,102
1,353,854
4,754
4,864
-
13,201
14,429
75,589
147,860
1,256,047
7,071
12,458
5,731
20,876
22,059
80,356
634,006
2,817,245
Housing		 Supported
Tenancy
Homeless
Prevention
Other
Support
Projects
£
£
£
252,613
222,645
63,631
20
3,674
1,260
8,123
10,219
-
10,925
21,987
17,475
669
15,057
43,705
-
-
-
3,275
1,637
2,047
12,605
6,302
7,878
288,230
281,521
135,996
Restricted expenditure
Unrestricted expenditure
Housing Support		 Total 2021
£
2,324,845
14,572
31,543
140,405
1,463,338
19,529
33,566
129,200
4,156,998
599,139
3,557,859
4,156,998		 Hostel
Resettlement
Housing
£
£
429,348
911,712
7,033
6,959
-
11,637
14,048
68,727
171,850
817,347
7,071
6,187
6,038
17,647
24,843
72,618
660,231
1,912,834
Housing		 Supported
Tenancy
Homeless
Prevention
Other
Support
Projects
£
£
£
248,167
202,035
55,536
816
1,798
1,169
6,982
8,964
-
15,888
11,536
10,211
2,260
12,403
46,161
-
-
-
4,180
1,858
2,787
17,199
7,644
11,466
295,492
246,238
127,330
Restricted expenditure
Unrestricted expenditure
Housing Support		 Total 2020
£
1,846,798
17,775
27,583
120,410
1,050,021
13,258
32,510
133,770
3,242,125
361,870
2,880,255
3,242,125

Hostel expenditure includes £Nil spent on the refurbishment of the premises at 11 St Barnabas Road, Sheffield (2020: £7,806).

27

Roundabout Limited

Notes to the accounts for the year ended 31 March 2021 (continued)

9 Analysis of governance and support costs

Staff costs - salaries
Staff costs - other
Premises
Office costs
IT costs
Administrative costs
Depreciation
Audit fees
Accountancy services
Legal and professional		 Support
£
87,059
1,996
8,123
1,746
6,516
14,735
-
-
-
15,328
135,503		 Governance
£
29,713
-
-
-
-
299
-
5,190
-
-
35,202		 Total 2021
£
116,772
1,996
8,123
1,746
6,516
15,034
-
5,190
-
15,328
170,705		 Support
£
109,619
3,068
6,982
5,981
3,114
12,600
-
-
-
50
141,414		 Governance
£
28,564
413
-
-
-
301
-
5,040
-
50
34,368		 Total 2020
£
138,183
3,481
6,982
5,981
3,114
12,901
-
5,040
-
100
175,782

Governance and support costs are allocated between Cost of Raising Funds and Expenditure on Charitable Activities pro rata per staff FTE engaged in those activities.

10 Net income/(expenditure) for the year

This is stated after charging/(crediting):

This is stated after charging/(crediting): 2021 2020
£ £
Depreciation 19,529 13,258
Operating lease rentals:
Property 414,514 311,823
Other - -
Auditor's remuneration - audit fees 5,190 5,040
Auditor's remuneration - tax advice - -

11 Staff costs

Staff costs during the year were as follows:

ff costs during the year were as follows:
Wages and salaries
Social security costs
Pension costs		 2021
£
2,273,480
181,945
106,651
2,562,076		 2020
£
1,864,940
130,682
80,528
2,076,150

No employee has employee benefits in excess of £60,000 (2020: Nil).

The average number of staff employed during the period (including relief staff) was 103 (2020: 92). The average full time equivalent number of staff employed during the period was 94 (2020: 83).

The key management personnel of the charity comprise the trustees, the Chief Executive Officer, the Deputy Chief Executive Officer, the Head of Accommodation Services and the Head of Finance. The total employee benefits of the key management personnel of the charity were £165,145 (2020: £128,232).

28

Roundabout Limited

Notes to the accounts for the year ended 31 March 2021 (continued)

12 Trustee remuneration and expenses, and related party transactions

Neither the trustees nor any persons connected with them received any remuneration or reimbursed expenses during the year (2020: Nil).

Trustees received no travel and subsistence expenses during the year (2020: £Nil).

Aggregate donations from trustees and related parties were £650 (2020: £300). In addition, during the course of the year, the trustees have attended fundraising events and have made small cash donations at such events.

There are no donations from trustees or related parties which are outside the normal course of business.

No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year (2020: nil).

13 Corporation tax

The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

14 Fixed assets: tangible assets

Fixed assets: tangible assets
Cost
Additions
Disposals
Depreciation
Charge for the year
Disposals
Net book value
At 31 March 2020
At 1 April 2020
At 1 April 2020
At 31 March 2021
At 31 March 2021
At 31 March 2021		 Freehold land
and buildings
£
707,685
43,500
-
751,185
67,096
11,552
-
78,648
672,537
640,589		 Motor
Vehicles
18,244
9,750
-
27,994
3,284
7,977
-
11,261
16,733
14,960		 Total
£
725,929
53,250
-
779,179
70,380
19,529
-
89,909
689,270
655,549

29

Roundabout Limited

Notes to the accounts for the year ended 31 March 2021 (continued)

15 Investments

Fixed Asset Investments:

Fixed Asset Investments:
Market value at the end of the year
Market value at the start of the year		 2021
£
65,000
65,000		 2020
£
65,000
65,000

Market value at the end of the year

Investments consisted entirely of an investment property. The historical cost of the investment property was £94,597.

The property was not subject to a professional valuation at the balance sheet date. The fair value is considered to be the market value of the property and was determined by the Council of Management in March 2021 based upon the marketed price and sold price of similar properties in the area.

There are no restrictions on the ability of the charity to dispose of the property.

16 Debtors

16
Debtors
Rent receivable
Trade debtors
Other debtors
Prepayments and accrued income
17
Creditors: amounts falling due within one year
Staff overtime and relief worker payments
Trade creditors
Short term compensated absences (holiday)
Other creditors and accruals
Housing benefit overpaid
Deferred income
Taxation and social security and pension costs
18
Deferred income
Deferred income brought forward
Contract monies received
Released to income from charitable activities
Deferred income carried forward		 2021
£
63,222
203,391
34,800
53,693
355,106
2021
£
28,600
68,136
1,000
80,922
14,568
86,899
65,664
345,789
2021
£
74,441
1,475,599
(1,463,141)
86,899		 2020
£
55,165
130,541
28,990
107,231
321,927
2020
£
22,157
28,719
8,871
45,670
5,400
74,441
51,424
236,682
2020
£
-
1,190,747
(1,116,306)
74,441

Deferred income consists of restricted grant income where payments are received in advance and may cover periods beyond the financial year end. Amounts are deferred to ensure the Statement of Financial Activities accurately reflects the income relating to the financial year.

30

Roundabout Limited

Notes to the accounts for the year ended 31 March 2021 (continued)

19 Analysis of movements in restricted funds

Housing Support
Welfare Fund
BBC Children in Need
Big Lottery
H & M Foundation
Future Builders
Private Rented Sector
HPS Mediation
SIB Foundation
Rapid Rehousing MHCLG
Rapid Rehousing Nationwide
Other projects
Housing
Norman House Ltd
11 St Barnabas Road
Glencoe Road Refurbishment
Total		 Balance at 1
April 2019
£
3,971
10,209
35,441
20,519
29,846
2,217
-
9,900
-
-
4,221
116,324
13,900
2,436
-
16,336
132,660		 Income
£
3,689
36,126
73,874
18,450
28,300
33,938
29,004
-
63,333
25,000
2,795
314,509
-
-
-
-
314,509		 Expenditure
£
(4,029)
(36,632)
(65,756)
(34,878)
(64,038)
(42,703)
(25,159)
(5,760)
(48,138)
(26,715)
(3,652)
(357,460)
-
(2,436)
(1,974)
(4,410)
(361,870)		 Transfers
£
-
-
-
-
-
-
(3,845)
-
-
-
-
(3,845)
-
-
-
-
(3,845)		 Balance at
1 April
2020
£
3,631
9,703
43,559
4,091
(5,892)
(6,548)
-
4,140
15,195
(1,715)
3,364
69,528
13,900
-
(1,974)
11,926
81,454		 Income
£
4,821
38,273
75,362
18,450
34,232
49,257
30,186
-
88,349
25,000
14,577
378,507
-
-
235,500
235,500
614,007		 Expenditure
£
(4,499)
(47,278)
(87,837)
(14,730)
(26,875)
(45,563)
(30,186)
(4,140)
(77,216)
(23,285)
(3,296)
(364,905)
-
-
(234,234)
(234,234)
(599,139)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Balance at
31 March
2021
£
3,953
698
31,084
7,811
1,465
(2,854)
-
-
26,328
-
14,645
83,130
13,900
-
(708)
13,192
96,322

31

Roundabout Limited

Notes to the accounts for the year ended 31 March 2021 (continued)

Name of Fund Description, nature and purposes of the fund
Welfare Fund Grants received from other charities to assist young people who do not have access
to other income.
BBC Children in Need Grant to provide a family mediation service to prevent young people from becoming
homeless.
Big Lottery Big Lottery Reaching Communities grant to fund salaries and operating costs within
the Homeless Prevention Service for a five-year period.
H & M Foundation Grant to fund an Employment & Skills Job Coach for a three-year period.
Future Builders Funding to support nine young homeless people to refurbish a property that they will
be able to live in once the refurbishment is completed.
Private Rented Sector Funding from Yorkshire Building Society to help and support young people to access
Private Rented Accommodation in Sheffield.
HPS Mediation Funding received to employ another part-time Mediation Worker.
SIB Foundation Funding received towards external consultancy costs regarding potential property
renovation work.
Rapid Rehousing Funding received from two separate bodies and trust funds towards the costs of
supporting rough sleepers in Sheffield.
Other Projects Various donations to support equipment and activities. £5,000 was received from
D'Oyly Carte Charitable Trust towards life skills costs at the hostel. £3,311 was received
from Yorkshire Sports Foundation towards various sporting opportunities for the young
people. £5,016 was fundraised via BikeAbout towards the costs of bicycles for the young
people. £1,250 was received from 52 Lives towards bedding welcome packs in the Private
Rented service.
Norman House Limited Funds towards the cost of furnishing and decorating a new 'Core House' to provide
resettlement housing in Sheffield.
11 St Barnabas Road Grants and donations received towards the cost of refurbishing Roundabout's hostel
property at 11 St Barnabas Road, Sheffield.
Glencoe Road Refurbishment Trust income & significant donations received towards the refurbishment of a new
Group Living project at Glencoe Road, Sheffield, which was purchased in May 2019.

32

Roundabout Limited

Notes to the accounts for the year ended 31 March 2021 (continued)

20 Analysis of movement in unrestricted funds

General Fund Desig: Development Fund Desig: Property Assets Fund Desig: Mental Health Work

Balance at
1 April 2019
£
565,405
180,000
346,995
104,834
1,197,234		 Income
£
3,031,241
-
-
-
3,031,241		 Expenditure
£
(2,998,443)
-
(7,072)
-
(3,005,515)		 Transfers
£
(37,126)
(35,000)
180,805
(104,834)
3,845		 Balance at
1 April 2020
£
561,077
145,000
520,728
-
1,226,805		 Income
£
3,844,957
-
-
-
3,844,957		 Expenditure
£
(3,717,075)
-
(8,578)
-
(3,725,653)		 Transfers
£
145,000
(145,000)
-
-
-		 As at 31
March 2021
£
833,959
-
512,150
-
1,346,109

Name of Fund

General fund

Designated development fund

Designated property assets fund

Designated funds for mental health work

Description, nature and purposes of the fund

The free reserves after allowing for all designated funds.

The development fund is targeted towards the purchase and development of properties to replace housing currently leased from the private sector.

The property assets fund represents the funds invested in two properties, 11 St Barnabas Road and Glencoe Road. These are illiquid and not therefore available to support ongoing operations.

Funds previously designated to cover the costs of mental health work following the donation of funds by Pitsmoor Youth Housing Trust. These funds have been redesignated to the general fund to cover general running costs and loss of income as a result of the Covid-19 pandemic.

33

Roundabout Limited

Notes to the accounts for the year ended 31 March 2021 (continued)

21 Analysis of net assets between funds

Tangible fixed assets
Fixed asset investments
Cash at bank and in hand
Other net current assets/
(liabilities)
Total		 General
fund
£
177,120
65,000
582,522
9,317
833,959		 Designated
Restricted
funds
funds
£
£
512,150
-
-
-
-
96,322
-
-
512,150
96,322
2021		 Total
£
689,270
65,000
678,844
9,317
1,442,431		 General
fund
£
134,821
65,000
276,011
85,245
561,077		 Designated
Restricted
funds
funds
£
£
520,728
-
-
-
145,000
81,454
-
-
665,728
81,454
2020		 Total
£
655,549
65,000
502,465
85,245
1,308,259

22 Operating lease commitments

The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods:

Less than one year
One to five years
Over five years		 2021
2020
£
£
156,503
132,319
51,122
27,198
-
-
207,625
159,517
Property		 2021
2020
£
£
156,503
132,319
51,122
27,198
-
-
207,625
159,517
Property
159,517

23 Non-Adjusting Post Balance Sheet Event

There are no events subsequent to the year end that require disclosure.

Net income/(expenditure) for the year
Adjustments for:
Depreciation charge
Loss/(profit) on sale of fixed assets
Dividends, interest and rents from investments
Decrease/(increase) in debtors
Increase/(decrease) in creditors
activities
Net cash provided by/(used in)		 2021
£
134,172
19,529
-
(8,089)
(33,179)
109,107
221,540		 2020
£
(21,635)
13,258
554
(8,773)
(51,998)
66,074
(2,520)

34