THE ROUNDHOUSE TRUST IiEPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 THE ROUNDHOUSE TRUST Company Limited by Guarnntee Regislered Charity REPORT AND FtNANCIAL STATEMENTS FOR THE YEAR ENDED 3 1ST MARCH 2023 Registered Charity Number. 1071487 Company Number. 03572184
THE ROUNDHOUSE TRUST REPORT AND FINANCIAL sfATEMEhryS FOR THE YEAR ENDED 31 hL4RCH 2023 CONTENTS Page Rerth of the TTU8tets IncoTpordting the Ry>rt of 2 Ihc Directors Why We Exist St What We r Strat¢ Rewrt Rfflrycw of the Financial Position Risk 12-13 K¢y Policy St&tenKnts 14-19 Structur4 GoVErn&e Maw¢n¢ 19-21 RefeieKe artd Admitiistrative Details TNslees' reSponbIlitIeS in rclation tD the financial 24 statetr*nts Ind¢p¢tKknl Auditor's R¢M to thc McmLKrs of 25-27 The Rou0eTrust Consolidated Statement of FinanBial Activitie5 28 fjroup and Charity Balar¢ 8hc¢ts 29 Consolidatedlash tknw stste]neI 30 Notes thtr fiEMKial stale]JKnts 31.47
THE ROUNDHOUSE TRUST TRUSTEES, REPORT FOR TEIE YEAR ENDLD 31ST MARCH 2023 Report of the Trustees Incorporating the Report of the Directors The Tte¢s of the Roundho# TSt, are also Directo of th¢ Company for th¢ purp)se of Compgny L8W, are plEa8ed to present Ihar Annual Rw>rt for tht year ended 314 March 2023, in¢luding th¢ Dir¢¢tQTS Retx>rt and the Stralegic REport UJM]er Ihe 21N16 Aci. The acwmpanyitsg a¢cDunts include the consolidated r[¢5 and balan shed of the RoU[hOUse Tn1 and its aciive subsidiary. In rewewing the plans, results tttMI hieVements of the charity. Ihis TMtee'$ reportcomm¢nls princiwlly on Ih¢a¢tiwties of thi5 group as a wlK)Ic. The financial slat¢m¢ni$ Comply with the Charities Act 201 I, lh¢ CompaDi¢5 Act 2006, the Memorandum aThJ Article50f Associaiion, and Accouniingand Reportingby Charities.. Slal¢menlof Recommend¢d Pra¢iice applicable to charittes prepanllg thcir accounts in acGordance with th Fina341 Standard applicablc in Ib¢ UK ?nd Republic of Ireland IFRS 102}. The Tntst¢es hBV¢ consid¢red the Charity Commission's gUide on public b¢n¢fit and have s¢1 the annual obie¢live$, $tegies ad activities of the or8ani$aiion with Ihc aim of (klivcrirbg Ihc bEncfi15 outlined alM)ve. Additionally. Ihey have consid¢r¢d th¢ Commission's guidanie urt fee chargin¥," allowing the widest wssibleaccE> lo our productions and creative programme is Crucial and SDmething we sliive for acro thr fvll Tang¢ of OUT aciiw11¢5. There is a scpardle note below providing nb)re detsils onour a¢ces5ible Why We Exist and Whydt We Do We ertAte to tr#ttyform The Roundhou8ets a hub Df in5piralion where arti51sand ¢rn¢rging lalentcreate extraordinary work and where young people grow CreiVelY as iNliYidua15. We b¢li¢v¢ that ¢T¢ativity can changc lives. By giving young people the than to engage with Ihe ans through OUT music. ]nEdia and prrfonKan¢c PToj¢cts, w¢Inspi Ihcm to rwh further, dream bi88erand acllleve nK)r¢. W#do this be¢ause webelieve crealiyily V<S us fr¢¢dom, h)p¢ and has Ihe wwer lo ttansforn]. PowerlDg tr#llsforrnati( Every year wehosi hundrEd8ofgi8s, shoWSai evenls in ourmain spaceaj throu8houiourbuilding. Every ticket bOuh¢drinkS0Id 9nd donaiion fromourgenerous supporters and pann¢TS h¢lps fund the transfomwtional work we th) with young peopl¢ in our Paul Hamlyn Routthuse Studios and withour community Pgrlners. Charitable aims All of our work is uThjerpIt by three ¢leAf aiJL8 that •T¢ link¢d to goals Kt¢ntifs¢d Wh the ¢ty was get To provide a programming framework, faciliti alld a supyDrtiv¢ ¢nvirorun¢ni in which young pwple can realise th¢Èr crealjvey Personal 8nd professional PDtentiBI., To dtvelop a broad and varied ariisii¢ programme which pushes artistic boundaric5, bringing new and extraordinary eXrIenCeS to London's audiencts: and To care for atyj celebmte our Grade ]]• lisl¢d landmark building, keeping the 8torits of its rith h¢rilag¢ alive and accessible to all. 2021-26 Objectives and Business Plan In 2021.The Routmlknuse crcaled a new five-yearbusiDess plan that refie¢ted the rtew exlemal latapE B5 well as our ambition aThJ growth with our new Cieatsv¢ C¢ntre having oned in June 2023. It acknowledges the new c91]enge$ and oppOnIties, 8nd affirn]s ourcommilm¢nt lo be an or8anisaiion lcd by our values, atMI the impact we want lo have over thB fivc year period. C¢ntra] lo this ¥ision is oiir ob. liv 5.. PrlndpAI COAI To expatyj ourcreative off¢r, depth of engagement, inclu8iOrt and reachso Ihat we¢stt further illCTe4se the nUrnr of young wple we work with to over 15,(MKI a year by 2026. Objecrfve I The koundhou5¢ will wfftmission and pr¢8eni engagitbg aThl kn'gh qtsality work that pushes knundari¢s, r¢fl¢¢ts soci¢ty, cclebrates and develop5 arb5ts, involves youn8 people, and brings and extraordinary experiences lo audienc¢s. We will champion the voice of young people and incr&ise the profil¢ of thc Rou]xlhou5e's charitable work. We will develop and div¢Tsify QUT carthlly bala mixed-ewttomy mfylel to suptMirtexp3n8ion plans. build rerVeS and mainlain ourGrade Il* listed knildin8 and operate as aD environmenially sustainable organisaiioo. ObJetdv¢ 2 Objetllve 3
THE ROUNDHOUSE TRUST TRUSTEES, REPORT FOR TFIE YF.AR ENDED31ST MARCH 2023 ObJectlv¢ 4 W¢ will Fmlect, maintain 3nd upgrade The Roundhouse Estate. while championin¥ sustainability deiiveting a quality servile. Ourmostvaluabltas8¢1 is ourpeople. To deliverouTambitious fiv¢y¢aTgoa15w¢n¢¢d lo furtknrdevelop our¢nlrcpntur18I and innovaiivecultur¢, ¢llsuring that Il is align to Nroverall ¥alues al organisational objectives. ObJettlv¢ 5 A brief look back on 22123 It has been a full and busy yedr of activity, with Ik highlight being the major PTO8ress on our new ¢traliV¢ ¢enirt. Roundhous¢ Works. At the sam¢ tsm¢ w¢ have ¢n building back aTrJ growinB Qui youth proa[e tv exceed ()vid l¢v¢ls. It has tten a yearof growth. ambition b)Idn¢s& To drive thi8 ambiliotb, we have rebraTxled our visual identity. reSAding to feedback from young peopl¢, arKI refresh a1 ulate our brand as we progress and devclop our prograTrune5. ]n parallEI w¢ dcv¢loped a n¢w website {whiLh will launchin M&y 20231, inconsulialion with young peotAe and audileS, to improvebooknng experi¢¢4 efficiencies. opportunities for evalualioTh and con]mcrcial incoinc. This yearwerecruiied fjve new Membe ioourBoard ofTrustees as wesay goodbyeto a numberof Trust¢¢s over tk n¢xi year as Ih¢y In th¢ Cftd of ihcir term. Thig r¢¢ruitm¢nl process has ¢onlnbut¢d toward% u achitvingour diversiiy tsr¥els for our Board of Trusiees. We provide nx)re infonll9n13l¢r tllls report. 22123 has algo b¢en a yr of securing fisNre su#aiTJability with invesirnent in OUT youlh progrdmmes, our slt4 DUT slatyteam and thving our incotne. Wp are d¢light¢d that w¢ hav¢ b able to tetain DUT Arts Couttil England N&tional Portfolio stshLS fDrthe next thr£ey2Brs. Strategic Report ihe sectson% below w¢ haw¢ ouilined significant ¢v¢nls and wgress w¢ ve nwd¢ duiing th¢ yeor &ross our principal goal alld five obicclives slated in the 2021_2026 business plan. PTIw1 Gofjl: EypADd our ¢re*tlve offer. depib of eD¥ag¢rnei( In¢ly$lwt and Twh so that vie CZD further iDCTea5e tho numhor poopl¢ we work wltb to over 15.IMIO a year by 2026. In (>Tder to achieve OUT targa of working with over 15.000 young people amJu2lly by 2U26, 22r23 saw us wwing OUT PtObTarnmE of DPTX>Tlunilie5 for youn8 people in bDih OUT 51ta]yJs AGrc5S to Cr¢alivily a1 AcCS to Industry. Roundhouse Works. th¢ staI¢-Df-the-arteat1Ye Getrtre. hasbeBn a major for 22123 as itexpands ouroff¢r to include 11-30 yearolds. We exceeded our taT8et for Ihe year of 6.(M)O young pg)pl4 putting us on trnck for our five y¢arain. W¢ have also becn reframing OUT apptoach to cvalualioTr of our youth PTogrartllllg5. th new Terms of Referett frf our Evaluation Committee in order to better tefle¢t our business platt a1 our specifK tar¥ets for en8agemenL We have developed new dashboards for d8ta capture on our database Te85iNTa and improved OUT r¢wrting pJr)¢tdures a¢ross our pro8ramm¢, twnitoringusa8¢ ofourspa¢es. tske up of ourbur5ary Fyogrammc JJ¥l &dapting ourpro8ramnK to the needs of young people. Al thesatne timethis year hasbeellone of developiThg iuBhquality optthuniti¢s foryoung people ac our uniquc ¢ngag¢tnent moJ¢l. at th¢ initial. op¢n ¢¢59 and dTgTrin activiti¢5. and buildinB up 10 the high value. professional dev¢lopmenl and p¢rforrnance opportunili¢s. We provide youngpeople with progrnmme5 and proj¢cls oss art-fotms and into work, lo ¢n838¢ in mu51¢. ¢5, swk¢n word, perfoTrning arts. digital and broadcasL creative eThtrepTetrSlll"p programm¢s aJHI off-stage gpp(>rtynbti¢s within th¢ Greativ¢ iNlustries. Key area8 of acliwty iled.. Growt Sth l & CommuDi P#rtn¢r$hi This ye3T, we furthet developed oui Creativ¢ CareeTS Iou[ce8 for schools. We Tetognisgj a gap itt th¢ fornial tion 8e¢iorof prepBnngyoungpeopleforwhal C2Teersin the CTEative ]ndustries mighibe like. This particular]y focusd on asscmblies in our ttKkSt local SCIM)1. We have also continued to grow DUTofferfor alt¢rnauv¢ cdwalion Yovidets lthe Pupd RefeThal Units, with Camd¢n Centre for Leatning doubling the number of sessions wilh us a1 the Cath ReintetIOll BasE CQntinuing a5 a pBrtner. A$ of our Risirtg Festival in O¢tober. we held a Rising Cateers day for seven local 8¢lx)ols for young wple interested in careers in music, with activilies on cre3tin8 music, building a PR(atnpai working on Ihcirown Cvs a[ sowMI engieri
THE ROUNDHOUSE TRUST
TRUS'TEES, REPORT
FOR THE YEAR ENDED 31ST IWCH 2023
2Y23 saw an eXtren]Y busy Sununer for our ColmUlty progrgTnm¢. Th¢ ROU[hOuse had a presence ai 8
mmuniiy festivals, with performllnces from Re$idenl Artists, Stslls promollng our offer to yourtg 0p1¢, and
livities Ibal youn8 people from within the (Y>mTllUllity, Tegatd1¢55 Df backgrouN], could participat¢ in. W¢ also
trdined 4 youThg prop1¢ as Youth Ambassadors in this wiod who joined us ai these.
We worked with 12 community partners on creative arts ProJts. The partners we Work wiihand the prDjerts we
worked sviih IhemonTan8ed from Queens Crescent Community C¢nlr¢ and Str¢¢t CIU5ad street dBnie activities.
lo the NEST fosierillg netwotk inlroduclory sessiotLS. We have also )rked closety %Trith the Camden Youth
Offendin8 Team in fuifillinu repBTaliolls ordets for 3 young peA)ple, and dev¢lopEd our C4)tnmunily EnBa¥ertnt
Slratrgy ioward8 becomin8 a Theatre of Sanctuary, th¢ ar(T¢ditE wh¢me PTovJd¢d by Ihtoty of Sanctuary UK.
Our uni
ue Creative Studi05 offer & Youth Work Methodol
In 2022, our Crcative Swdios Member4hip re-laun¢lied witl) an ey¢-calcliing local rnaTk¢ling campai, armi with 8
Youili sup11 team 31 their h¢8rt. Th¢ Paul Hamlyn Roundhouye Siudios are now re¥ularly al upacily and we've
in¢reased QUT drotFin workshop offer across art forms. ensuring thai - at lea81 once a w¢¢k - benIrS ]wv¢ all
aLfE5sible OPPDrtunity lo experi¢rK¢ whgt Ihe Roundhws¢ has lo offer.
Over ihe past ydT. the Youlh Supporr Idn has bwome¢¢niral lo how the Studios works:
I'he le8m now s18ff the front desk and plh)nc lines. en4urJng that a youngpcrgon'g fi]¥t tK>itsi of coni&# at
the 8tt]0s is a Youth Worku.
They admirti8ter our StLulio Credit financial support sG[ne. wnducling individual conversations with
young people who may rtced to acce6$ the scheme, as well as refeIng thEm to other sctvi¢e8 Outthde of
th¢ Roundhouse if needed.
A particular¢hallengeweh8veexperient&loverrf* Pa•yearlwbeen &yowthjny(tbgp1Ie'spa$k)r8I
ne¢ds. An¢thlally. Youih Workcrs have noticed hn increax in nKnial hcalih conc¢m8 amon8 young
people, as well as a disillusioJJm¢nt wilh careers educaiion, and concerns aroujxi th¢ rising wsl of
Youth Workers have begun to Te5pond progTammalically lo young pcople's needs and inleres15. For
exampl4 in re5FK>nSe lo a growing intere51 in Andrew Tat¢ among young using the StLLdios, the leatn
have e8tablish a Young Men's Group to cxplore identity masculinity in & safe arm4 non-judwent
space.
ndhou$¢ Works & Acce55 To llldu5t
Our new creative centte, iioutKlknuse Works ope]Ja in TMeT 2023, with a sele¢tion of progrBrnnKs for
cr¢ative fre¢laJJ¢ers and ebweneurs aged 18-30. Over the past yeaT, Teady for the oprning. we've been running
pilots for the following prograrnmc$'.
Our n¢w ¢wOrling hub.. Whilstwaiting ty move inio our buildingb we've us1 a space inour mgiTh
offi¢¢ buildingto t¥)5tyOun8¢a¢lveentrepreTs. InfornKd byth¢youngpcopl¢ involved. this pilot has
enabled us to develop a tnetnbership rnodel atjd pnigramme foiour Frtnanent co-%vorking hub. Feedbk
from youngppje i]1ded..
"77te social events helJEd reFmJve u5fvm isolalion. we became a bil Df a
THE ROUNDHOUSL TRUST TRUSTEES, REPOR'r FOR THk YEAR FNDED 31ST MARCH 2023 This year saw silfIcant iavtstm¢nl from our corrorate partn¢rs in providing mentors for mentoring optX>Tiunities across OUT wogtamnKs. This was ¢sp¢cially tru¢ ill l..1 tn¢ntoriDg s¢ssions providd by staff from our corFx>Tate partner, Livingbridgq for the Ac£eleTalor participants. I'ayloT Wes5ing business adw¢c surgcry torour C(Fworkittg hub pgrtiCiPAnis. Ssx>lify for our Transmission Roundhouse htsrt. Ind Wig8in for yon¥ fjlmmakers on our Film Fu]K4, ProfesslonAI D¢velo A kcy eoTnponenl of our work is oprrf)rtunilies for youtbg people lo develop in a professional setting. This year, OUT Professbonal develop]nenl PTOBtgmmES included our Tegulgr OnTrnck INEET progrdmTne}. which wovides young rKoplc furthest from the job m8Tket with opportunitics to develop theiT cicatiye skills &nd a¢cess industry profE55iona15. W¢ deliveTed OnTtack in 2023 fmm January lo M3Tch for 13 pgrticipants, culminating in a sJK>w¢ase of their mugic in the Studio Theatre for an au<b¢nce of fnends 3nd farwly. We d¢livertd the Roujslhouse Filrn Fund in both the Spritsg aNI Autumn of 2022. We reen all six films tnad¢ by aspiring filmmakers in De¢ember 2022, including afilm that wott the Wiggin Emerging Filmmaker Award from Sofia Negrn. whos¢ bhort filtn Sknieknok us1 rnad sketches lo showcase T1 lifc intetview$ with peopl? from her Ial skate par One ofollr s1¥nifint uPwrniti¢¥ for young people looking lautKh caie£rs in Iheir chosen wiform5 are QUTcoll¢I, whocoll8borat¢ logelh¢r aspofomiers. {knMuc Collectiv¢ atxl Vocal Coll¢ciiveworkedtogether during the Autumn term lo pr¢parc for p¢rforniarK¢sas part ofour In The Round Festival in April 2023. Th¢s¢ w¢rc faniasiic opw)rtu]llty for youn¥ IoPle lo pttform t1 only on our Main Sra8¢, bul with h¢adline acts Guy Garvey and Dave Oknjfflu respectively. who Ih¢y collabor3t¢d wilh during ihc term'y T¢heaTsals and workshops. tring the pandemic, wt pivoted our prtrgtamttKs lo online delivery. with a tempoTgry di¥iial Y¢h pro8ramme. ROUDI Your Ho Now Ihal we're back to in-person delivery, we've been exploring IK)W to Susiain the acc¢5sibility, flexibility and r¢4¢h of a diBiial offer irt a Kx)$1-¢ovid cortiexi. To do this, we have been working with di1] age¢Y Bunnyfoot to xop¢ r¢quir¢m¢nts for the plaiforni, coThJu¢iing Surveys. infervi¢ws in-d¢plh ¢ creation workshops with young peopl¢ lo dc¥elop our und¢rslanding of h)w a Rovndhouse diwlal plafforni could best serve the nEed5 of young crcatives. Thi5 research thowed a strong deMai for a Roundhouse onlitbB plalfort boih. to n¢twork with like-minded peer8 atyj lo offer a "digital playground" for ¢reatiYily. Bunnyfoot has now Fwdu¢ed a Te¢ommendaIiti report which Wea ¢uYrcntly considering. Into work Partof ourcommiiment 10 developing young peopleholislically is u] providingdirecl opwrtututies foryoullgwple lo gain paid exFerieJJce tsf the world of work. This year, we hid three tr8ins jtsin us for the delivery of the Rising F¢stiYal in (ktob¢r. WUTkitLgon t PTTh4uctioTr. matketing a1 PT0grarnng of the festival. This past ye&r we recruited o technical 8ppruii¢e working with us throughout th¢ y¢aT, gaining professional experience of the organisation in readiness for their hLlure care2r. We have also hosted Work Experience d3ys for young people from four diffErenl loEal schools. Wotk Experity¢e at tr ROundUSe inclwleB Shado8 aml collaborating with dep3rtments acTOSS the entlTe organisalion. (lectIVe l- The Roundhou¥ewUI eommtsslongnd preJtxétkngi8lllgADdhl8h qu2llty workthat pushej boundarlc, refie¢ts $Iety. telebrates aDd dtv¢lop8 rtl$ts, lttvolves yottg peopl¢ *tyd brltty Aew #Dd extraordlttary ex erleD¢e8 to audlencu. Our aim is represenrthe brOaddIr$ity0f tA)tthn attd we will do this by working with and show¢a8ingart made byour crealivc artistic ¢ommunili¢8 and through parffierghip with our int¢mal broad¢a$l Itam. mmt As part of our anti-racisi commilm¢nls. we plC to diversify Duf CLY¢7al music programm¢. Last year saw us coniinu¢ this work by d¢vtloping relalion8.ps wiihin the sector. and ai Ihe same limeslaging performanc from artists who are Yetwned for their¢ontribuljons 8$ ex1t5 of Black Tnusi¢ in various ways. These in¢lud¥J establtshd aGls like Soul Il Soul. whD vE a long a]N] significant historyl)oth wilh Ihe Roundhouse and C8mdEn, and Sister Slage, who cel¢btgt¢d their remarkabl¢ legacy as Fvform¢rs with us. Al the same tim sold out acis like Youn¥ F31heTS ate considered sotne of the tnosl exciling British acts today. 3nd perfomied in t Main S¢ forth¢ first tim¢ this year.
THE ROUNDHOUSE TRUST TRUSTEES. REPORT FOR TFIE YEAR kNDED 31ST MARCH 2023 WE also showcased £xcilin8 a¢is from the global majoriiy who are risirtg stats its their¢arters'. Steve IA¢y. whose success began after going viral on TikTok. Wizkid, brin8in8 exceptional perfonnBnce froin Nigeria in parlnerthip with Apple Music. Olivia Dean, who beggll her c8reerwoTking with Rudimental. Roundhou3e-PROCESS A series inierrogaiin&J artistic pToGeSsesB4 artt¢are, PRCfESS took placein Autunm2022. F¢awring Workstp5, roundble diKu&%ions and WO Jn Ptogress p¢rfornianc%, the s¢ri¢s look¢d into how artlsts and creatives can b¢ supwrtd by aod ¢ollaboraie wilh produce[5 8t venu£s. Highligljls includ¢d lh¢ 5ts8ing of Ktishna Isth3's Firs£ TriMesr, Ihe Producer8 Retreat for ptodu¢er8 of coli)ur, and th¢ liv¢ rw(Yding of th¢ D]"45porn Di41(>gues p(Kk&5t in partnership Mth Spotify. Tbe Last wor Festtvai •Dd Pget Slm In July 2Q22 w¢ presented our Last Word fe5tlV31 with our rKW ¢ampai8ll "Wher¢ Words aliNr" The Roundhouse P0ry Slatn Fillal was the cornerswn¢ of the fesliv81, with Ezra England winning the Jwjges Awar and wilha s181 wfomiance frotn GcoTge the Poet. The award wiThning The Reccipts pcKl¢aslcame and r¢coTdcd a S$1n liv¢ wilh BBC IAlrd and, for Ihc first till, we hosted a series of Long Table Talk4 deSid to bTiThg audi¢nL¢s and anists together in CUllVErsalion. We were also pl¢Js¢d lo PTemi¢r¢ n¢w' work from R¢sid¢nt Anists including E8m¢ Allen, Abena Essah, Ruth Awolola arml welcorne back Roundhous¢ alumni Jack Rook¢ and ¢alOr of"Big Boys- lo l¢ad a pan¢l."How to adapi your Writing for TV, radio and fjlm" 'ThiY long atynuolptseiry $lomforyotsngJpoken-wonl ong ofihe hlghlrghts ofthg Roundhotue. 4ualityorLF amlculiurepw¥iYmime' Tim¢ Oui 'withgFtQieraccSto theirprogrammesfvr 11.30yrolds, le&fvI1ngamJcd&y1hirUfornj¢I1We9teryiItsl o[Ihe collecii¥¥ fEypon5ibility to champion sp¢Kcs like ihes¢.fj1ft By NatUT¢ Risi eytivThI Sin¢e2011. Rising has b¢¢n ShoaSing diverse ¢reative taleot of Ihe ihrou8h gigs. workshopsand a¢te8s to indusiryevertisand trainetships.driving ilsdedicationto supp)rtnew and ¢mcrwngartistsandyow)g p¢opl¢ looktng to PTO8ress their careets in off-stage tllUSiC Tole5. In order lo improve accessibility of our festival, we launch[ & n¢w £1 ti¢kd offer for wung po)pl¢ uThJ¢r 30. Wc also used a hapltc floor system for all pcrforniances. which tran51ale5 soulld into vibrations so Deaf aryl Hard of HeaEing IHOHI Jjmlividuals betier experience perfomiances. We also worked With TYdrf]]eTS lo co-Gurat¢ Ib¢ festival u]cluding BBC Introduring, Ris¢n a1 sh¢5aidso. We weiconxed artists Yune Pinku. ix>shh. Talia Cles%. and Roundhouge Resident Artist India Shan. Wrapgrou)vJ acilVIty lrtk pla¢e itt Rourtdlk)u5e Bar & Caft. inclwlillg exceptio[ open n)ic night featuring p¢rf¢)rniartts from young peopl¢ frotn the iioundhou5e StL105. JeRD PRUI G ul r's Fashiom Fre4k Shmv Jean Paul Gauliievs FBshion Freak Show's spe¢ta¢ular summer from the eftd of July throughout Au8u81. The revamped production trealLxi Rudiellc to a dazzling nighi out - depicting the scmalional life of fashion's enfant Égrrible and r&eived bnllianl f¢dback from audienc¢ and PTes$alikc. Sclecltsl highlights below. THE TIMES
"cease11YIvveh1t¢... glddy. excessive... liberaiing embr¢Ye ofbeautyandd4(erence.~ GR4ZJA "A rambunclioE. hI¥h-f¢h10nV¢¢lQ¢Ie" GA Y TIMES
'A spectLTele worihy ofiheFolie.F Bergvpe- we don'< gften ger Vegas style vaganZa in London, still less one wiik its roor% in Eyrowan cul)al ((1 FnCh sertsthility. bfyi thtsshL)wmokn a gbod casefvrafew more" THEA TREREYIEWS
Alongside FhlOrt Freak Sknw's wmm¢r run, we padner•J with Studlo Moross lo ¢o-¢urai¢ B¢yond + Bdw¢£n- an accompanying proBrdJnme of shows, events, workshops, a diNn¥ offer atyj tnsiallalions exploringqueer ideniiiy. nightlife, fashion and w)p cultUTe. The programm¢ brougm the whole Roundh0Se siie lo life. Celebrating aAI amplifying sotne of the most i]nportanl artisls and voices driyingculrt and conrsation ioday.
THE ROUNDHOUSE TRUST TRUSTFES, REPORT FOR THE YkAR ENDED 31s'r MARCH 2023 Oblecllve 2. We vim champlorl the volce of youn¥ people and 5tt¢rÈse the pronlt ol the Rou•dbou5¢'5 tharltsble ork (hbSi$S plan oudin¢s our communi¢alions and adVoCY plans as follows.. to be known forour unique Tr)dcl of dclivering ground-breakitw youth work itX8ide a world-class v¢nu lo bc resw)nding to, and cvidencin8 impact in, the k)cal wmmuniiy, lo pul youtw wple's voices centre when it comtts to isBues that impact th¢irlive Our ujil ue model.. round-brtlkln 'ouih work l#$lde a wurlthcllss vetsue We wer¢ a k¢y partner in the ¢rvaiion of ?n academic r¢wrt 10 explore aPpmh¢S to engaging diverse 8roups of yow)gpeoplewilh artsprowmming. Therese4rch spccificallyexamined CT¢ative Youthwork asadisiin¢l pra¢iic4 wliiLTri suvwjib yvuiiy ywylt Lv fli¥d¥e willi 1LivE piovisiuii til a i111117rul way. We workyd witli Quccii Mary University, Rich Mix, The Albany I'heairc, lthc Yard Th¢atrc and Sp)tlighl in th¢ ¢T¢alion of this. Six monihsaheadof th¢launchof Roundhous¢ Works, w¢worked wilhBtunswick ArtSi0 gecurea numb¢Tof ¥lori in the press about our woth with young pcoplc and Ihe pmposals forthe new building. This Includ a piece inThe Tim¢s (Clialk fBrtn's Roundhouse ex anSlDn will feed a ho e-ststved eneraiiottl, 3n opinion piecc in Ihc Evtrtsing Standard Il'his isexacti Ihc wron IiTnc to cul fiindin . Th¢ Stsge (Round for leland Mixmag CdiiideTi y Rou5KIlusL UIivEi15 NL'W C.¥Lalivc C.ri)Ii'¢ 'kvut1dlK)Ue Workn.. W¢ 9150 us¢d the gpw>inlment of our Twst¢¢s to serure wi(ks[d FKess Lovera8e abwi our charitsble wo including ill[ , Civil s}¢ CMU. Access All Ar¢ Brttadw Worl Ans Professio[1 and The Vaiy.e View. We also brought our WDrk is ave]K 8nd treive space for young people iogeiher in interviews we did gboui how the energy crisis is ]mCting u8 and the sttior. Marcws Davey was inthi¢w¢d by the business editor of tht Independent (lllve in culture s5rJ I Ust fDT art lovets- it s the alh 10 and the c.a F.videnci our im ct thp loral COTllmUni We're uTrlertaking a Social Return on Investment15ROD woject with Sti¢i81 Change UK to und¢rsiand th¢ impact of OUT Broad¢asi atk4 Digital proje¢is. Th¢s year saw cxIcnvt research inlcryiewing young people about their exp¢rien¢es. The results of this will b¢ releas1 in 23124 and 5har¢d widely across the sector. le's voicts ee We completed a brand refresh to jncTe3se the irnpact of OUT Sltrry as art arnISation. This ha8 gone hand in hand with the proj#tdevelopirtg the new website. with the improv¥J functionality of booking iickets for audi¢nGes and platts on projectslprograTtunes for young peoplc. Al thc hcart of this was lislcning lo and r¢5ponding to the rdS of young pwple, who havebe¢n involved ai every 8la8e of thed¢v¢lopin¢nl, artiwlationof thebrief atmidclivcry of both projxts. Objecllve 3 - We will develwi &Dd diver¥ify our garefylly b4lAllcod ndAcd-LYOtt(nny model io $UPWbrt eIpgllsion plgD5. hpild rcservc5 and JD£int8in our GTde Il listed bDlldlLg aDd operate ellYlrollmenlRlly su%t#lttbk organ1t[o. 22123 Saw us build on straie¥ic comnylmenis WardS a more comm¢rcial culture in oui commercial evetlls programme, and maN)r new fvndraising partnerships. This ha8 in¢lud¢d ll¢w wrwr#i¢ p&rtnets our flagship festivals, celebrating our award-winjing v¢nu¢, and ¢apit81ising on n¢w opportuTritics in our prDgramme and with Roundho Works 10 launch [d Jlew partnerships. Hlres And Kvent5 r#Dim Last year w¢ hcld two large-s¢al¢ tdey1s events. N•¥s UK, W]¥) Cares Wiu5 (not live broadcast), atyj Channel 4's SlaThl up to C&nccr. Jn September 2022 we Ih)sied an'Appl¢ Music Live. s¢ssion, & reLorded and guest attend perfomianceby the artist WizKid. Jn addilioTh ioihis wehav¢attracled a wd¢rangeofevenls over the last 12 K)nthS (from fl0th shows, filmin& awards & Galas and ¢Kbitions1. In total. w¢ TrOkl 50 tyertts this year. We w¢r¢ pleased win'B¢stAwdrdor Grtlo Ythue'in th¢ Lorthn Venue atxl Catering Awards atbJ'Bes¢ Un#$ual OY Untque VeNu¢'at Ihe C] Evcnl Award&
THE ROUNDIIOUSE TRUST TRUSTEES, REPORT OR THE YEAR ENDKD 31ST MARCH 2023 Fundral$ln We had an ex¢¢pi¢onally s¢fijI furtdraising ye8T, over4GhievtnK th¢ tsTg¢¢ by £4(X)L This SLK¢ess was driven 8CTOSS all areas in 2J23: PhllaDthTOPy: r strai¢gic focus on buildin8 stron8. longer krni relationship5 and devdoping philantlpiC pJrtn¢r8hip5 boih 1h major donors and with $ts. Through the ¢xpansiTrn of our youth program]ThE. improv¢d ability lo d¢monstraleour impactond outcomes and 5e¢n an in¢ttas¢ in sup5K>rt from donors over muliiple yesrs. New relglionships with Trusts this y¢arin¢]ud¢ the Linbury Tru$1. AKO Foun(fation, Portal Tnjsi and the Progress Foundation. Corporate PrtDersblps.' We have si8nificanlly 8rown this 3reaof worl andbuilisecurity into the futur¢ by se£.Iiringmiilii-yearpRrtnErships. mRlly of wh)m Rr¢ align wilhouryouth pr08raMn a[ inaddilion to financial support have Ven their time and expertise through volunletring and mentoving. We h8ve b¢elldelighl¢d 10 renew our patln¢t5hip with Taylor Wessin& Spotify and Bloornber8 znd welcotne new partners Vice, L¢wn8bTidge and Lavgzts. -'Ihg with Al (fayloy we¥$In brilllanil He r¢etrgNtsed (he projeci LIrtdlAl our Éjlorts I couldpursue ts buildfinan¢i¢Tlm¢prl. Ile bmke dowpjfinanciul lenninolw an acCY1b1e wdy. helml me I identify Trvho YPO1entIlrther5 c(wldbE. ondgave nKa solldplon iofollowup in expund6wiheAwiewialo[my enterprE. Eveits.. Roundhouse Gala returned forour biB8eSt night of fundrdisillg ever and raised a renhirkable£l.18 rnillion. The¢v¢ning was hosd by Clara Amfo and TrevDr Nelson with bTillianl PErfunndnre5 from Guy GaTYey, theTTevorHorn B&nd. RonThieWood. Andr¢aC0, Adrian Leer.T¢shaY Makeda. ChisaraAgor. Ruth Awolola and'flje Kingdom Choir. A hug¢ thak you lo eVcry0 whu allcnded, donaigj monry artd prizes, and a special thank you to ourGgia Committee including Co-chairs. Sally Wood and Nick Allott. OBE. On Saturday28 June 2022. inlrepid challcrwstookoll the RoundThe Housescha]lenge to wBlk 36 lIeS in one day lo raise money for the Roundhouse. Led from the front by ourchair SimtynTurn¢r ond a tvm from Inflexion, the event raised over £200.(KX). Name Yomr Seat 1aurjcTrd this year allow¢n¥ supwrteTS to put a name artd rSOnal message on a plaque for 10 yeaTS. We had good engagementand f¢rstplaque8 were installed ¢nJantsary 2023 with an event ar a comtnissioned From Ruth Awolola. Avixrd w1nlg= we weTC pleased to receive g Spe¢ia] Mention award at th¢ Achar Philanthropy Aw3rd$ 2022 from th¢ Cultural Philat)thropy Foundation for continuously sroivinga]¥J developing partnv5hips with oiher orn1$tionS Ihatalign with OUrvue5. Itwas cfjttfirma we susiain ourArt'J Council Fundlng And NPO staws for thc next three years, mrnencing23124. Our capi&l fu]Mtrai5ing for the R[hOuse Works tr1]dIng and ihe new seating it) ihe main space Came to a successful c105¢ this year. Of our £9.2m largEt we have bEen able to achieve £9.04m for this project. With 8Taleful thanks to our gertrous partners a1 supwrters. ObCtIVe 4- We wlli prthc¢ mlDt•ln and upyde The RouDdhou5e wkllech2Jllplollln% 5UStalnllblllty 4Dd dtllvtrI serviw. We approach this objective by splittirtgit into thT¢e k¢y th¢m¢5 on gnnual basis.. Proie¢iln' malntolnln ondu rAdln th¢ ostate Our responsibility a5 CaretakeOf ourCFade II listedbuilding megns regularwork is r¢quir¢d lo keepouT ¢stst¢ lo Ihc high¢sl possibl¢ siandard. In 22123. we undert(x)k a number ofprojecls lo ensuTespaces in our estate are fit for PUse forour audiences. our young rknple, a[ our staff.. We repaired and refurbished anu]tl)erof office spac¢s in th¢ main buildingiKlUdirgourTh Offi¢eand Workshop. Bars Offic4 TickelinK oifi¢A and SNdios Office. We levelled out and resLrfacal our Yard 50 that n¢w piping ¢ould b¢ la for iiwnd)K)us¢ Work4 aml to safely JTh)ve our Jw 5e&ting structure in and out of th¢ Main Spac¢. We conylthed artupgrndeofour seatitig Structure. which wa8past itsorKratsoMal lifcspan. The ¢W sealing8miclure was custo]Tr dEsigned by Audience Sysletns lo suit our unique 3(degree v¢nu¢. and includes a mh greater range of a¢ce88ible sealing options, in¢luding s¢rvice animal seating for the firsi lime. This represents a major upgrad¢ to our offer for 8udiert¢e6 up a mUGh wider rgnge of coKfiguTaiion5 for s¢al¢d p¢rfornianc¢s In the space. contsibullngkna [IreatbIll0us aTlislicvision inthefuture. It&lsDr¥iuttsourturn?rouThllimesignifJcanlly, maknng a major wntiibulion lo r¥lu¢ing our ov¢rh¢ads.
THE ROUNDHOUSE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31ST MARCH 2023 5ustuinablll ThBopenitsgorRourthWOrk$ts algo acelebrationofa newbuildin8on Iracktob¢in Ihetop IO% of SU$tsinable builditw in the UK. Thi8 is a huge a¢hievemeni and we hop¢ 10 usc the n¢w building Is x demottgtration of how other cultural organisations can desi and expand their estates to be more 5U5tainabl¢ in Ihc lon8t¢mi. (r FO & Bcvtrag¢ ¢¢am OUT Hw5¢ke¢pIE tEn have both Tcpiac&l ththr cleaning chemtcals with [re 5U51ainable alietnative5, 8t we 3TE wioritising reusable ¢up8 foT our bars in Ihe tmmediBle future. As part of refreshing OUT Staff spaces across the estate. we have also beett upcycling and rth)ming offic¢ rUnlr¢ to redw¢ any goin8 to landfill. Dellwerl 5erW¢e Thn)ughout the year sve have been 5¢0ping our wd)sil¢, klcnlifying areas for improEnt in customcr experienE¢ aTKi cu5totner journw wJKnbookin¥wiih ub. This ha8 bten a focus for both gig-goingaudiences yDUDg
plc booking oThto (r prOaMMe5 atsj proj¢¢ts, made possibl¢ by SUP[rt frojn the B1MberS Cultural Acceleyator. We havealso undertakeT¢a maprup8rad¢ ofouriillssystems wilha provider. Dines, includinE]Mbileorderin8. This has m¥Je a hU8ediffere¢ to our Food & Beverage servi¢¢, in particulardurin the summer's runof Jean Paul Gaullicr's ffosliiort fifeak Shim. ObJettlve 5- most vfiluable Is oir poopie. To deliver our ambltlous tlvt year goals we need to furthtr develw our eDtrepreAeXrI and IDnovatfve culture. ellsurlg tbwt it 1$ fi8ned to our ovenll VAluM nlstJoll41 ob'ectlwey. W¢ ar¢ ¢ommilt¢d to being an in¢lusiv¢, 8811¢ and ¢tYi¢i¢ntorganis&lion th21 fosters inN>vation, crealivtty aml high leve]s of perfoTnwice. We havc introthjced specific initiatives for stsff development and d¢v¢loping a working environment our staff are proud of. while also setting specific tsI8clS from thc very top of the Organisaiion for Equ3Jity, Diversity and InclusioTL 2Z23. wea¢hievEd this Ihrough.. We r¢cruit¢d fiv¢ new Trust¢ts lo th¢ BoBrd, who wjne frojn B tangeofbackwunds with specialisms in tech, wlicy, s(Kial change and education a[ join at a Teally ex¢itittB moment for the Roundh(us& They wererecTuilui with aspecific aim lowaTdsachi¢vltLgourdiversitylar¥8ar0Ulld 8¢nd¢rpwity and(ulra] origiyj. In 2020. a8 part of our aml-raCt commitments we made a commitm¢nt to diversify tsur workforce by 2023 en&wing Ihal- By 2026, 40Y( of our workfor¢¢ will be from global ]najority backgtounds of which 13% BI We hav¢ mBd¢ 5igufinnt pro 0r tk lagt wple of ye4rs and haye now commilled to a¢hi¢vingthis goal by2026, the end of cwrbusines5 plan. By 2030 we have ¢otnmirted that ourworkforce will tDatch the London Cenyjs and 46% will be from the Global Majority. Looking ahead to the future IAKpking ftsrW to 23r24 includes the complaion and opening (pf the RhoUS¢ Worts buil(tiDg aud our new programmcs for young ueativc fr¢elan¢ers and entreweneurs. This will iwlude a fvll tnatketing campaiBn to build a pipeline of young ialenl 10 en8a8e with our pro8rammes as we]1 as a PR campaign to launch the space. We will focus on OUT ¢ODvn¢rcial in¢onK strategy to fiffth build fJnHncial Tesilicn¢¢. Alongside our evMts hire strdiegy. we will beuLthrtakinga Teview ofour dau opp)rtwiiti¢sfor it&ed li¢ket sal4 and laurhing the r websiie which has bcen Oesiwd lo cnhance audien¢¢ aThl custonKr experience. In additiots, we have been workin8 with digital agency Bunnyfool lo %op¢ r¢quIrenn1s for an on]ine p]aifortn for yQUllB peoplc. Our research lo daic showed a strong demand for a RouThJhouse online platfvTm b)th, to network with lirninded peers and ILI a -di8ilal play8round" for u¢ativity. Bunllyfwt has ro)w produ¢¢d a TW)mtnend&tiotLS report which we are cwrenlly considering and will deloP ov¢r the next year.
THE ROUNDHOUSE TRUST
TRUSTEES, REPORT
FOR THE YEAR FNDED 31ST MARCII 2023
Review of the Flnancial Position
Tbe Roundhous¢ has a mixed bui tnt¢graied financial model. Tbere areanumbcrof key iome Sources and activity
Ikntome
Th¢ Roundhouse derives OPthXli]Yd income fiwi Ih&qe main sourtes..
Rental of the main auditorium spac¢ forthird party corpOraChanty evcnts aTrJ mu8ic gig5-wa th¢5¢ rcntals
we also earned 8 range of stndary incomc such box offJcE fEes. supplier Cottunission and food aThl
beveTAge in¢otn
Renial of office swe third p8rties
Fu[raiSing 8]xl sponsorship inc(Nlle through a MIxre of dtsnaiions from individuals, grants from irusts,
COTporale sp)nsorship and income from vaTiOUS tnembership schemes. There is also a biennial fundTaising
StatutsTrry funding via Arts Council England as a Natio] Portfolio Organisalio
Tickcl ilKon froiii own or ¢v-pfDnwlcd aTlislic pcrfortnances
Additionally. wehave fundraisai lo extend ourbuildin8and faciliiies throUghtheNextG¢ratIonCampal8n. Funds
raised in the year for this purpose ite shown sep3r8tely as lri¢la itwm¢, er Rthirta C8pits] Funds.
Total Rcv¢nue for ihe year was £14.5 milliort12022.. £14.4 JnillioDI.
ReveJw¢ fron] trading fjctivtty has improv¢d from last ycar ai .4 milliort12022.. £3.0 million). This was a threct
irnpact of icreaS (y)rnm¢rcial xlivily following the lifting of COVID T¢stri¢iions aThJ havin8 a full year of
operation$.
Income from charimble activities. donations and investmertts fr>r the y¢arlexcluthn8 restsicied capitsl i1) w8s
U).8 million12022.. 8.4 mlllionl.
The teslTiclcd capital incorne ieceived in the yvat of £1.8 million 12022.. £2.9 MillnI r¢pr¢5¢nts fvNls received
towards the RouTdhou8e Works alld SeAtin8 project - of dJ¢s¢ Jmoul £0.4m r¢lat¢s to fut Elv¢d in
fulfilling a Section I[ ¢ommitment.
Expendture
On the Income aThJ ExpertditurE Siatementexpendilure is rerI
THE ROUNDHOUSE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31ST NL4RCH 2023 lllbttdxl Oullod( beyolld 31 M*r¢h 2023 The oullLx)k for the current finaJKial y¢ar is tM)w very difftrent from th¢o)K w¢ anlicipAtry] when we developed our 5_year businepan threeye9TS ago. Wehave had lo reasses8 every aspect of ourop2ralioThs in Ord10 miti8ai¢ the longeT-term impycts as we naviggle through th¢ ¢ost of living pressures. ThTough 22r23 we have buil¢ upon the changes to our delivery rnodel and underlyingorganisationDI 5tru¢knre that were implemented in 20121. We have ¢onlirtu lo provide young people and audiencts a le¥el of ongoillg service programnie alongside the build-up In OUT tommercial aciiviiies. Sin¢e re0ping in September 2021, we have Colllinued th¢ build-up in out gigs atd BventsacrD IhBsile. Wehave alsoensurd thatthTough Durstaffingd¢¢i%ons thai the Roundhousc r¢main$ operaiionally ready and thai we cart adequately supw>ri fundraising and funjrecommercial bwkin8S. Th are a numkr ofinitiativ¢s underway that aim lo stabilis¢ 4nd Erf)ost com1¢19] iTJcome as we navigate the Ost of living pr¢sswes. Th¢se ild¢ d¢velopin8 lh¢ us¢ of OUT dats and enhancin8 reporting, brand Yefrtsh, a increa5¢d sales andmarketingeXnd1tUre (people andadvertisingsp¢nd). Wer¢mainwnfident Ihaiinth¥ loll iemi th¢8e will hav¢ 4 m¢aningful impgct though li is unclear as to whal th¢ impact will be this yeor. We have rigDfDUS governance strllctu in place to conlrol thc Roundknuse's DPBralion5 and thr EKe¢utiv¢ atyj Senior M3nagetneDI Tellrn ate continually T¢vi¢win& rewising and teacling to changryng scenarios. Communication with the board of Trustttg l5 frquellt a[ rt review of ourcurreni w>$ition It futsre out]ook is considered w an on-BoinB basis. li
THF ROUNDHOUSE TRUST TRUSTEES, REPORT FOR THE YEAR Ef+lDLD 31ST MARCH 2023 Risk Management ThB ti5ks ihe organisaiion faces have been reviewed ot) an vn¥01n b1$ Ihruugknul the year by ihe senior management tram as part Lif rh¢ proc¢ss havc been reviewed by the Business. Audit and Risk Commiiiee wilh significant ti5ks al consideral at the main Board. ReputAtional Ri$k iepulation is extrwnely imwrtanl to us. it is affecied by our decisions. terforniance, and aciivilies a¢ros$ a wide nge of areas. Th[lgh everything we do we strive to ensure Ihat the expxlaiions of OUT ¢mploy¢es. visilors, audiencr, voluni¢er4 key 51akeholdeis a[ the youllg people we serve are et. Thteats to OUT reputation -'repulaiional risk") may arise as A consequence of our str&tegic and 0ratIOal risks, all of which are actively managed. Wc havc tn pla¢eongoing monitorin8> communi¢alion str¥¢¢8y and hav¢ iniroduc¢d F1kn. Commill¢¢ which provides a formal platform foTdiscussion Other Str•tegk In addition to Covid, b¢Sow is a sum]nary table of SITateBi£ risks facal by the RouTdhouse a1 acti( we are takbIl to nage the likelihood 4r¥i Impact of ihese risks. It sFK)uld be nolEd that sY)mt of Ihvse are of course intluenc&l furtherby the long-tmn IMpaS of Covid aTrJ the p)$t-pandoTni¢ cnvironmcrtt along with thc iTnpacts Of tlK costof financial sircn th 2nd susioinabllil The long-t¢mi viabiliiy of Th¢ RouTrJhou5e s busine55 model is deP¢t on 0r ability to continue to fund our charitabl¢ a¢tivity through a coinbinaiion of commercial afid fL]d[als1B inCDmB. ThE CDvid-19 pandetnic h85 had a negative impact on our ability earn Irome via our eommtT¢ial activitie8 however a combination of tight ¢tsst control aj EOnlinuEd supwriacross all fundraisiiig channels as well Js wpp)rt from Governm¢ni and Arts Council 8cheme8 has meant tkni we able lo grow r¢s¢TV¢S in ih¢ 2021122 financial year. W¢ ¢XFWt finish lh¢ year Close to our free reserves 18rg& tsf £1.8million. The Ttustees sr¢ committ¢d TthildiTrg T¢ser¥es to Ihis tarw ov as sknrt a lim¢ framc as wssible. With r¢gard to monitoring ihe immediate impact of the pandemic. tIK Trustees review finala] rewrts Tegularly mparing pErftsrmanGe against fOrast, aJMJ wh¢theT funkra¢iton is rtyuirJ rgjuce ¢osls and preserve utirestricied funds. 0r the lon¥er Itrni woE* is on8oing enga with trus corwrate dorykTS a]Kl oth¢r W $tsk¢hold¢rs inord¢r Ihgt the Roundknus¢ undcr8tstth 8]kl ¢in re8Thd to theirprioritics in thc ty>st-AdernjC World. Wc arc also looking to ¢k¥elop soJn¢ k¢y partn¢rships as we b¢li¢Yc this will be key to incteas1ngir impact in the future. .le culture and wellbein At th¢ ¢ore of the Roundhouse's delivery are the etTrployee& volunleers and Trllsfr¢8 work a{ WPFK)rt ws to achi¢ve OUT goals. It therefore folluw5 that il is cruci3] that we ar¢ abl¢ to 1ViL tain and supp)rt suitabl¢ slaff, volunteers aThJ TNsttts and sustsin a Culture that supN>rt5 tjk deliveryof ils str8teEY. The Covid.19 5]$ has add¢d to th¢ challeng¢s in ihis artrd not leAsl because we tteeded tts m2ke some sigmifi(ant sttuthjrdl ch8nBes. Th¢ rrisis ha5 a]so hi8NL8hted the r¢liancc on a numbu of key people that we nLYd lSider going forward. IrtOTd2rto miti8ale risks in thisarea wehaved¢vClotraln1rtB ioembcd more fomjally a setof Roundhouse valuts and we have formalised OUT le3tning atd devdopm•Jt programmes. We lak¢ g proactiv¢ approach 10 r¢cruilment and we Are looking81 ways to furtherdiversifyourworkforce and ¢nsurc we build a saf¢ and inclusivc Qrganisalion. Also. as tioned above. ensuring employ¢¢ w¢llbeillg ihrough Ihis difflcult time has intensified via on-line Inioittg and face to f8c¢ ¢ngagem¢nt gThJ a¢c¢ss to OUT employ¢e assisiance progrrne has continued throughout. From 3 monitoring p¢rsFYdiv¢ w¢ regularly survey slatT and volunlttrs and benchrna¢kin8 of compensation a]Ml benefJ15 every two y¢ars. As we build plan5 to return to COVtD workin8 we have done a considerable amount of Work 10 ellge sthff in )w we nEEd to Illpt our tK>lifji¢s ènd ¢ultur¢ to ¢ll5ur¢ we retain and aitracl the best pwle As we build back our PTosrammes in 2022123 both on site and out in the wider community w¢ will corninue to engage and collsult with young Ewple, our communiiy pathrs a1 u¢allOn providers 10 ensure that we are resp)lldi directly to the needs of young p¢opl& 12
THE ROUNDHOUSE TRUST TRUSTEES, REPOR"I' OR THL YEAR Ef+lDED 31ST MARCH 2023 W¢ ar¢¢on)Initted tts buildin8 backournumb¢rs tts working wilh 91 leasi 8,500 young peoplc next yearto cnsurc we are on ITack io achi¢ve our targ¢l of 15,000 by end of the business p13n. We will bt building our inio-work, entreprencurship programTnes a]Ml pilotour co-workingpTOWSiOn ts we prere forthe opentng of the new Creatsve Cenlrc. As Ihc need io ¢onlinuc to demonstrate our wider impact 10 fundcts, prtss and key slakeholders we will furth¢r develop ollr evaluaiion metrics, having jusi r¢sin¢iIur Ili¢¢valuaiion comrnillee and revised the terms of refcrencc. W¢ will build and T¢sirGJmr¢ th¢ team, lurth¢r embedding safeguardingboth with our front-line staff but acro&b the wider or8aiiisaiionand ard. We will furtherinve%i in markettng lo young IOple, ¢xploringdifferent plaifottns for ¢ommuni¢ation and m0110 and Worki¥ with our local siakehold¢rs and partners loiBise awaien¢$s of our ofyer to young p[¢. W¢ will build on technology to both Improv¢ ¢ffJCleY and r¢porting datR 85 well 85 ensuTv Il is easier and muc moTe accessible fYOUg people lo twk sp3ces and prgjecls digitally. In a4dition to that we will coniinue to scope OUT digital Irarning attd WdrfiLiPdtion project to explore the vi3bility tu whether this could broad¢n our Teach thnd engagement at a national level. uokiii TheRoundhous¢asa building lies atihehvart of both our grammed¢ll¥eryattd¢Ornrn¢rC7al activity. It essential thefore that w¢ ¢Dsur¢ tts ongoing upkeep so Ihal it remains fil for PUTPQS¢ and complies with a wide rangc of operational and regulawry Stat$. Risk mitigation in Ihis ar¢a includes r¢8ular Ilema1 & third party r¢¥1¢ of op¢raling proccduTCS lin¢lting he<h and safety). Also, over lh¢ last f¢w y¥Jrs, we have set %id¢ addiiional fwts w allow us lo Upde and renew both th¢ fabric and key plgnt and ma¢hin¢ry. The Implenentation of Brexit ijttroduces B wide.rdn8e of risk5 in ar¢&s including (but nDt littuted lo) [rUitment. supply chain. capilai investsDent, fundin& consumet CODfidellce. TheTe is rUentlY no cle3T infoTTnalion on touring companies frDm the EU in Te121ion to visas as such we a moniknring potertiial impact ortllon UK bas1 wmpanies. To ¥n$T¢ a lim¢ly 2nd focu$$ed approach to the wide-r¥dching Brexit risk laThlg¢ape we ¢Oftlitiue moniior t risk via iegu13T SClliOT managcment and the executlVE updates. Thc Koundknu$c also re¥ll15 that building mainiaiJJing strong relationships with key 8iakeJK)Iders, locallyaThJ nalionallywill ¢r¢ai¢opporNnities ro inform and iTrflu¢n¢c as w¢ll as sharecon¢em& 13
THE ROUNDHOUSE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31ST L4RCH 2023 Key Policy Statements Investment Poll¢y The investment policy sa by iheTrustees and reviewed a)mtsally. InMar¢h 2013.thecharity apwintedJO IlambT05,1gter renanied Wav¢rlon Investtnent Managenient, 10 man8ge th¢ investmrnl of the £5m Paul Harnlyn Foundatioll endowment fund in a mix of inveslmEnls within SPEcified ethical 8uidelin&s. An Investment Commilieewassel upcomprisingTtustees,Paul H3rn1ynofficia15 alld inVeStheXpefts to moThtor the fund. An ittvesiment policy has becn sel by the.rst5 tsrgeting an annu&l total Teturn of CPI plus 4% with an emphasis on ethical ld¢17e$. For th¢financial yearetxling31 March 2023 the cpi+4V. benchm( equsied to 13.2 A: agaItWh1¢h Ihe wrtfolio rerned 0.5Vo. Thcportfolio ismanaged Mtha long-IEttnview, 5TnEc inceptionthcCPT+40/tr basb¢¢n 70.50Aagainst which the portfolio has reurng1 lo9.63. Surplus Cash is inve3t&J in low risk. high inleresi deposit accoun¢$ or on Ihemon¢y mthetto a¢hi¢v¢ 8$ high a return as p)ssible whilsi rKIT risknng Thccapitsl fund& Th¢ Companydo¢s not act as custodian onbchalf ofoiheTS. Fundr4i$ing The Roundhouge has a profe&8ional furtdraisin8 depatknjeni lal by the Parti•s attd Impa¢t Director. The team IS responsible for fundraising from ithlividual4 events, trust and fou]thtions aTxI busirt88es and works within Ihe guidelines sel out by the FuNiraisin¥ Regulaiorand Cthleof FuAlraisin8 Practice. The Routkfjtu$C's fvn¢Jraisin8 IS UprtabyY0Iunter¢0mmtttt¢S includinga Gala Commitite who helpwith the organisaiion of the bienrnal Gala. A D¢velOp¢t Bogrd, chair¢d by a was fornied in 21118 with dear and Coftdilions cenired on ndTaislng forthe Roundhouse's annual tsT8¢ts and uimial ¢ampai8n. The RouD8hous¢ annually rcyicws and upJate$ its ethical wlicy aj an Ethi£s wmmitttt, which was made up ofasubsel of the Board toenable the eXUtive leam8t BoardofTtwteesonde¢ision makln8aroundsiifIcant TheRouMiknusedoes note1ageanY ¢xt¢rnal pwlnersoT fUndTHisingat¢s to ¢wout fiJNJraisingoD its be]f. Nor dc we enBa8e in fundraising activittes that would place ?l<rbIePeOP1< llt risk. Ihe Roundhouse sub$ib¢S tt> th¢ FuJrnis1g R¢gulator and 8ign¢d up to the Fundraising Preferw¢ S¢ryi¢¢. Tr Partnctships and Impact DIrtOr and the Aw¢iat¢ Dir¢¢tQT for Ikv¢lopnrnt are both Tn¢mbers ofthp 1Th8titute of Futbjraising. Aecess for all OUT youihprosrarnmes sn a rangeof art forn lo excite. IrpIre3d captivaleyoung people fromall backgrounds. Wetsffer opportunities in ]nusir. theatre, cucus spoka worf and br0C8st digits]. witb afoGu8on developiog skillsand lIdIng¢onfiden¢e. Oneof our kty rtsles is to engageyourtg wple who might TK)totherwise h8ve ac¢ lo the arts, and challenge the growing divide in social mobiliiybthween different so¢io-ecoMrri¢ groups. Ac¢usibl¢ tick¢ts Wepromde 16-258 access to £5 tickets forselecttsl 8s sJK)w8 thm8h the GET IN m¢mb¢rship 8ch¢ftK In addition kn Ihi8 we offered free li¢keis 10 all our open dress TeheaTSals. This allowed those who would not otherwi8e have been able alteJNJ to Ihe show. Pastoral support Ihr knfoTmatlDn & Advice Base, IEd by experie[ed Youth Suptx>rt WDtkErs, offe[5 pastordl support on is$ues A$ tll51& employTnent. m¢nt&l knlth. tninin lucation 8]Kl other aTts oprrt)rtuniti¢s Tailored activities for We reach those who are nk)si ith nJ by tsfferit)8 taster artd regular sessi008 to schools target group8 and community w>ups and ptovidinK inte]k%ive pro8rammeg for young pple not in lucation. employmertt or training. Ring-faKed places We 5et95id¢ pla¢E5 foryoung pwplefrom our iar8eled programmes or supportedby our on proj¢ct$ mmunity n¢twork partll¢rs for OUT open access PTOj¢ClS. The places h¢ld unlbl sknortly before the Project starts to give Ih¢se young wpl¢ the best P(bssJTr>le cha]e or acc$. 14
THE ROUNDHOUSE TRUST TRUSTEES, REPORT FOR TEIE YEAR ENDED 31s'r MARCH 2023 Buwries Our bursary sthm¢ provides access to proj¢cts for yowi8 p¢ople who canllol afford lo P8y themselves. A travel bursary isBl$o avttilable. Subsidies Ourprojccts are affordablc and hea¥ily subsidisgd thTougb ow mix¢d Ewnomy business odel. Young pwple t¢ll ws ¢kne is nowh¢r¢ in tA)ndon that offers spKes a[ prOJtt t such good valu¢. Volunt¢er5 The RoUndhSe relies heavily on a Community Df voluntee[& They are a vital part of ihe visiknr's 8erri¢es team ensuring 8udietKe8 have ak enjoyable wsit. Dlsabl]Stles In the )vorkplAee As an employer we undert3ke a w>licy rnt to discriminate against anyone. We ¢onthl irdividual risk Hssessmcnts for every applicgnt. employee or Volunt with a disability. This i(knlifJes Hny reasonable adjustments that need to be fftade. Portnershfip8 The Roundhouse works wih a rattge of partners and networks 10 share experrise, learning and ktN)wledg¢. Th¢sC in¢lud¢ th¢ Creative lllduslri¢s Feduaiion, Mysic VenM&s'fTust th¢ Con¢ert PTomot¢rs Association ICPAI, the 360 degree Jk1wo, A New Direction, tA)ndon Youth gnd a rJng¢ of local community Organisatio5. ]n 2020 we joined the Youth Employment Group which was a coalitlOIl Df youth charities set up ill resN>nse to Covid 19 attd the in]pacl on young pevple'siDbs prospxt5. Stakeholder management r primary Stake10¢r$ aT¢ our young people th81 tske pBrt in our cteative prograttllne. We C[0Y numerou5 tutOTS on a freele bi$ to deliver our youth programme who receive regular ttaining and suppr>rt. Our youth Proarnme,$ otst¢omes aTeevaluattrJ through tsur e¥aluatiort committe¢ ort a monthly basi W¢ $1 our Roundhouse Youth Adwsory Board IRYAB) which is made up of up kn 20 young pwple each year. RYAB It ]mhlY atmi adviseon every aspect of the ROu5Use'S work for our creative progTarrllThe with young peopl¢.ourOry8nisatio1] values atsd Wrpr0$ed C8m]M]$buildinK. Two m¢mbetsof RYAB sitortourfonnal board of Trustees. Reserves Polley As ai 31$1 Mar¢h 2023, the tot31 uJJrestri¢ted reserves were £15.3 milliort (see tK>ie 171. Of this £1 1.6 million represents aftK)unis Inve# irt fixed assew £1.9 milliort has been de8i8nated for spe£ifK purp)se& After taknog Ihesc anK)unis into consideraliot) ljwe rctnairts £1.8 million of free rescrvc8. Th¢ Trustees have deterynined Iimt ihe Roundhouse needs UllTesiri¢d free reswves to allow thE ¢)rg¥nisatir*n to tllaThBg¢ a rgnge of wtential operalional risks, Iluding flU¢aLIng inwme from commerrial a¢tivitiEs. sigDifiwt chan8es to voluntary and dotLgled income, the costs of emer8eney buildin8 repAjrs. The reserves target is in exce88of the minimumlevel thai wouJdb¢required for anorderly winding w of the charity. TrnsTee8 consider that £1.8 million rnaIn8 an appropriate tsrget in light of the charity's sizc, operations, thc financial risks 10 which il Is vx]X>s¥J. The Trnstees are wmrtuiitd thai if Re8etves are L¥oded in th¢coming years that these are Tebuiit as a wiority. Ally Unrestricted reserves in excess of the free reseryes target will be dtt8ignaled into the Capiial R¢newal futbj r¢presenting amounts 1 asid¢ 10 ensure on¥oin8 renewal and replacement of the building infras¢thIre. Over the Coming years theTrust¢es will Iwk 10 gtow this reserve 10 £0.8 million lcurrrntly £0.65 million). 15
THE ROUNDHOUSE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31ST LWCH 2023 Golng Concern The Truslets have a&SesS The RoundhousE'S ability to continue as a going concern. They have considered several fa¢tors when formin¥iheir conclusion asto Whherthe useof the goingconcernbasis is appropriate when W¢P3Ting these fJt)ancial siat¢meni$ including a review of upjaied forecasLq and cash flow to March 2025. a[ a considerdlion of k¢y risks, that ¢ould ncgaiivtly •ffecl th¢ clwily as well as Ili¢ succtts of 14. miiigaiinB facknrg thai bave been impl¢m¢nl¢d. Our core unrestriued r¢serves are funded from a ¢ombinalion of fU[raising irtcotne gnd commtrcial income. A ted in Ihc reserves wlicyabovc, the level of uTrre51riclal reserve5 star at£l.8 million at the end of March 2023. The key risks in our financial model deseribed in more detail the Risk M&nageInl section page I l. Of pktti¢uJarrel¢Yanc¢ to going concern is risk littked to maintaining financial strength aThl sustainability. Alotsgsidc the eXutive Ihc Tnte¢S art Tevi¢win8 the finan¢ial position closely on a regular b8si4 and upJatin8 expec1 future scenarios b85ui on th¢ a¢tual wnthly results and any chanwng exlemal f%tors. We have 8etout aknve 8 reviewofThe Roundhous¢Tru$l's financial wromnCe and the general reserv¢s posiiiorL Our planning prDEcssc5, including fjnancial projections, h8ve t&en inio consid¢raiion th¢ curr¢ni econoinic cliJllal¢ at iispoiential impaitunihe nOuS sOues0f illcorn¢ atpInnl ¢xp¢nditur¢. W¢ hav¢a r¢asollgbl¢¢xpe¢tstion th&t w¢ hav¢ adqualc r¢sour¢es to ¢ofttinue in opeTOtional existence fortheforeserdble fuiure. Webelieve tknt there are nD rn&lerial uncertginlies Ihaicall into doubiTheTrusi'sability io¢oniirtue to operate. A¢cordingly. Iheac¢oun15 hav¢b¢¢n pr¢pgr¢d on the basis IhatThe RoundhouseTrust is a goingconcern. Tw$tee dutie$ In rel4tlon to Section 172 Df the Companles Act Th¢ B08rd of Trusitts is awar¢ of 115 duty undEr SE£tion 172 of the ComtYdnie5 Act 20(k5 lo act in a way that is considered lo b¢ in th¢ inieresis of stskeholders when promoting the sucsS of the cotnp&ny. Th¢ TtU51ees act in 8c¢ordance with this requirement and doing so have regard to.. The likely c We have in place a rollin8 fJve-yeaT busilless plan thai map8 out our prioritiE5 atyj atnbitions acr(hss our te£ ekrit#bl¢ goals. Tk plan include£ a robSt sel of flnal81 8nd oper8ti0nal objectives. This is & key tool wi which we continually monllor our pro8T¢SS and p¢rf0rnnCt. AIDnB5idc t, we have a cOfftphCn5lY¥ risk mana8ement proBramme. whieh ide]rIeS tisks of u5 reB¢hin8 goals. On pages I 1-12 of this rekK)rt you WIII find moT¢ dclails of risk mana8ement process a[ the kcy n5ks we are tIVe]Y managing. (r staff are the most imtx>rtHnt part of ¥]ll¢vin8 ourstaied goals. We are comnutted ensuring everyone who works ai the ROundIse U]MterStat our core purpose and the values that utxl¢rpiTh the delivery of OUT objeciives. Their h¢gllh, saf¢ty and wellb¢in8 is also paratnount and this Is always a key part of all plannin8 processes. More aiKiutgur staff en8a8emenT slrategy is tn¢luded in the SEclion bElow on page 16 IEtwRg¢]twt with Employ¢¢s) Th¢ Aeed iu foster Ihe coni s business reiaiitsn5lll widi s -pIlerS.CUsl0erS alld other5. Core 10 ik RoundJM)use's business model is the strength of our partnershirs. We WO with a wide rangc of p¢ople a1 or8aNsaiions from both opeTg1ing and funding prrspE¢tiv¢. To ensur¢ that w¢ ar¢ wnsist¢nl with our approach we have a policies 8ndoperaiinKprocedure5 in ple and alway5 slriv¢ lo followb¢51 pra¢lic¢. We chwse our suppli¢rs car¢fully and ettgure thai Iheyeollaborate with us acrots 811 area5 including their approach to diversity aryl ilUsion gnd swtsinability. ofihe com an ' tratIOnS on the ca]J]tlluni Our youth 3nd artistic pro8ramm¢s ar¢ centred on the Camden and London community. We work closely with all th¢ 10¢01 wrrllt)unity including Camden Cou]Ktl 8t involve them wth many of our Imrtant dttistons thmgh regular meeting5 and wmmunications. Environmentally we are part of the local 3dvisory groups and work across raThBeof attas lo Ir[r0¥¢ wrilnpacionthe environrnefti. More onour key sustainability goalscattbpfoujkl on pa8e 17. nvironm Ihe com n mainlainin tstiO for hi h 5taJidard of This is pai&wunl lo th¢ su¢c¢ss of our strate. Over the last 3 ytars. we have worked hard to embed our co values thtough a tang¢ of iThIiialives.TILarc supwrted Ihrou8h a wide ran8eoforBanisaiional p)li¢itsthat Cll8UIC Ihat Ihty are applied ott a daY-¢8Y b8SiS. 16
TIIE ROUNDHOUSE TRUST TRUSTEES, REPORT FOR'fHE YEAR ENDED 31ST MARCH 2023 IbL[911k&LWcI).li)embcr$ Of.1 compo11y. Ev¢ryon¢ including all TTUSte¢s Ihrough a rigorous induction process. We rnaintsin 8 of otlw companies. charities and busisseS thalour Board and 5¢nior management leam are involved with,. this ig formally reviewul ott an ant)ual ba$is. Conflicts of interesl are declaTed at the start of all boaTd meing8. EngaEement wlth Employees As a tatiVe0ranls8lloll li is our pp)ple who are the en8ine ofwhal we do and what we tan achieve. Over Ihe lasi two ars we rnn cross-or8anisatioTral workshop$ to develop a set of Roundhouse Valu. The were launched f0mllY in late 2020 ajyj they will be embeddLMI in our tsainirt& pcrforniarKe managem¢n( recruitwt at iJMluBlion pTogratntTS goi8 foTw3. Our priffl3ry cornmunicalion chanftel on matleTS of concern to them as employ¢¢s is Ihrough th¢ir IJn¢ management Chain within Ibeir dITlOrat¢s. Wc havr ttK)nthly Staff tneelings lo dissetninale Iu'8hli8his frDm our programme and a¢livlty as well ¥ d¢liv¢rany key mEss&ges relating to health a1 safelyarmioperational guidance. Weknstan inlemal intranet gile Roudupwhere w¢ shar¢ FK)li¢i¢s aDd pr(wlur¢s as well as stsff rQr¢¢$ and w¢ll.b¢uJ8 inforn]atiotL Since Apiil 2020 we have provided we¢kly updai¢s via email from Marcus Davey our CEO and Artisti¢ Dir¢cloT. Dwing 2022. we sel up a r¥ cross OrgalSll0n leatncall OnE Tfdrt4 OnB Oryanisaiiotr. The fO¢Sar this group is to li5t¢n lo improv¢ ¢r0$5 team lIabOratiO1b and working both on a s(Kial and Operatioal levcl. FTOM 2023 this group will m¢et wilh all ¢mploytts 10 listets to concerns arKI instigat¢ soluiions w these. M¢mbw5 of tk samor management ieam, who in ium meet regularly with C.EO to disc8 particular topics, ¢hair this group. Also during2022, we set up a new sub¢omrnitt¢e of the BoaTd callLYl the People Co]Dmittce. Thi5 8roup'8 remii js lo review si8nÉficant people matters and adviseon the antwal remuneration chan8es. (r ability to Truit and T¢tsin high qualiiy staff is ¢ritical to th¢ suc¢¢ss of our Charity. It l5 our p)li¢y to pay competitive and fair salarics in all parts of our organisaiioJL Wc cvaluaie all jobs via a bicnnial external benchmarking exercise. FUrtrdetaIlS of ourdirrttors. arles. key management personnel Can be fouThJ in note 10. The charity has aw¢ll- esiablished recruiimertt proce% whi¢hgiv¢s 11 Lonsideration to all applications free from any bias. W¢ wJd¢rstsNI the strength in diversityand welcomeapplicationsfrom all suilablyqualifiedand experienced Gandidates itt&qpe¢live of Ih¢iT ag¢, long iemi health conditions ordisability, age. g¢nd¢r QT g¢nd¢rT¢assirn sex. 5¢xual orientation or marital status, race, r¢li8ionor b¢li¢f. We are Commit to DiversiiyaLxI bKlusiott as an or8anisaiion and run a monihiy Diversity aNi Inclusion workin groupmadc upof representalivcs acrosstheorganisalion. Thtou8h2022 were¢wed811 ofourp)licies and Practicfs and have madea comtnittnentto further improvingthediversityof ourworkforce, $txcifi¢ally settirtg targetsaround rx¢ quity and disability. OprK)rtsJDitiesgr¢ avgilAbleto all wploy¢¢s for trainingand¢ar¢¢rdev¢lopment. All of our pleaE treated fairfy, with regpe¢l and digDily. Wcdo not iolerdl¢ diriMinall0n, vithimisalion orharassmenl of any kiJMI. Bu8lne88 relatlonghfip8 The TntteS rQgnISe the inwrta¢ of both internal and ¢xt¢rng1 stak¢knld¢Th. Th¢ Tnths aTE comrritttyl to forniingstrong LatiOnShIpS with lh¢ youngp¢ople W¢SUPFOrt.Th¢y ar¢ mindful that successdepondson our ability to engageeffttlively. work108ether, Bnd makethe5eslakeholdeTS' views centrdl lo the devclopmcnl ofour 5ery¢¢es. Young peopl¢ ar¢ T¢pf¢8¢llt¢d on thE B09rd of Tn]st¢¢s with th¢ RouDdhous¢ apwinting at least two Tru8iees wl aT¢ und¢r25. TJysetv¢ for ap¢riod ofon¢ yvdr atsj act asa key voice for youngp¢opl¢ atboardlcvel on all mattcts thes¢ individuals gre participanis of Round1use Youth Pro8ramm¢s and rn¢mbErs of the iioundhou8e Yotsih Adwsory Board. The Tn]51ees rc8ularly engage with our youth progrdttllnc with one of our TtU5tees bcing a tor ot) a number of projx15 foryoung p¢opl¢. ID 8ddilJon on¢ of ourTTusIE5 has specific r¢swnsibility for safeBuatdirt& and regularly all¢nds T¢Vi¢W m¢etings lo dixuss issues arKI ¢0cernS r¢latingto safcguardingchildren. young people 8nd adulis at tisk. One of our TsleE$ also sits on the Evaluation Cornttllllee lo &upwrt th¢ developmettt of Slraiegies and ethodoloweg to assess the imp2¢t of activity relat&4 10 the Roundhouse's work with young pe4)pl¢. Alongside this all ol. our TNslees regularly alt£nd performances and sknwcasc opportunities to support aTrJ ¢¢lcbraie ihe achievements of young people. The Trustees r#eivt regular¢ommerci8J, optr8ti0nal, Commutations. fundraising aThJ lleY updates. This giv¢8 them in undersi8TrJing of the impact our aciivilies have ajvj the views of our$iakeholdcrs. TheTruslees also review, 17
THE ROUIYDHOUSE TRUST TRUSTEES, REPORT FOR THE YKAR EIYDED 31ST MARCH 2023 atttKirbi-monihly 8rd meetings, fJn&ncialgnd operational pcrfomttnGe. Theyare rcsrrf)nsible fOr&¥ablisknnga1 nuintainift8 an effeciive system of inletnal conlTols to ptovide maximutn clTeclivcness in the det¢¢tion, pr¢venlion and tll8n&g¢mI of risks. They are alsorttsp)nsible for reviewing le8aJ and regulatory complianc4 Streamlined energy and carbon reporting (SECR) Sinc¢¢ompl¢tion oflh¢ESOS rerK)rtln82rn1 inline with ftewTewTiingrouiremenis implemeniedbyihe D¢parltnent for Busin, Enewy and lTrJustrial Strategy IBEISI the following fvrtherrefitLed environmefttal impact and ¢n¢rgy COn5umplion fi8ur¢s aTes¢t out for the RIndhoUSe. The Jnethodolo8y us¢d in calculating Ihisdis¢losure is based on the Oreenhouse aas Protocol Corporation Standar(I IGHG Protocol). El¢ctri¢iryand gas data for this colle¢ied from monthly invoice infomiation provided by ourulility suppliers Energy &JtJsumptiO April 2022- Mxrth 2023 Ikwb) April 2021- Martb 2022 (kwh) Energy Vs¢ Gas 1,059.196 I,107$ Assouèted Greenhouse emi551ons ITTres C02 equlvaleMI 215 242 Intensity ratio Emissions per Person Employed 0.75 i.ii Energy Ust Ele¢trlt&ty 1,721,066 1,386226 Assoclated Greenhouse 8as em1$51ons (Tonnes C02 equfvalentl 356 287 Inter15ity ratio EMI5n5 per Person Employed 1.24 1.32 Total 1780.262 2J79.101 AssocSated Greenhousegas emlssSons tronne5 C02 equalentI 571 529 Intensity ratKJ Emi55ion5 per Person Employed• 2A4 GrcBtthou5B ga5 ettli55ions are based on Ikwh electricity u5agc ptoducin¥ 0.2071kg of C02 &Dd Ikwh gas odU¢ll O.2D27k of C02 lfrotn DEpartikt for ED¢rKy Stwrity O]kl N¢tZ•o 2023) **Average employee numbers asper Note 10 Th¢ Roundhous¢ ha5 worked wslh Julie's Bicycles in updalin% tk sustainability p)lscy and action pn aiorbg with aSS¢SSrnEllt of ovr thll rlpri1 {ilUding scope 3). Julie's Bicycle are also exploring in tandem wilh the Roundhouse ort how we continue lo d¢v¢lop our clinTrte justice Work espla]lY with young p¢ople along with engagetnent with artists perforniers and wnn¢cling lo the Green Touring Work that Julic's Bicycl¢ is h¢avily involv¢d in. The Roundknusc has also committed to the four following sustainable developtncnt 8oals' SDG 4.. Qua]ity EducaiiL)n- The RoutKlhouse seeks to educate lis siaff. perfOrn audiences and YOU people OJJ climat¢ cknnge and susi&inable perforn)atte. 18
THE ROUNDHOUSE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31s'r MARCH 2023 SDG I l.. Sustainable Ciiies and Communities The Roundknuse 1$ involved in its community, worknng in paershIp to create 2 hth1¢rOj gre¢n¢r CanvJ¢n. SDG 12.. Responsible Consumption and Pr(xJu¢lion - A$ 9 srfOrmance venue. the Roundhouse sijns to knuse sustsiThable produ¢iions athd wtsrk %vith supplieTS 10 gr¢en it5 supply Ch. SDG 13.. Climat¢ Aclion- The Rourtdhollse is Committed to ensuring8iU tr8A%ition tonet zero emissions by 2030 in part by switching to ricwablc solar¢tW. To h1¢Ye th¢ gbov¢ h¢r¢ are some of the things we arc working on though th¢ Grcen team and our Str8t¢gic swtsiTrobility commiliee. We have collai&l m8]ty ideB5 and &Te CUTrelltly iP]e[nenting0r h&ve alrady ijnplementul the follown Redv¢lng tODsumptloth by S¢lliThg re&ime$ a¢ross the site, movirtg nK)re to LED lighting arjd eensored li8hlin& tn8uring$olar pancls aTe maintained prOrIY to be etficienl. EthKatln% People- With gT¢enrid. $taInabIlity8UIdeS 8iventcttouriTrg parties c4rtonliteracytrainin& ¥v¢ekly google lips of r¢du¢in8 ¢ner8y and pmlonyng the life of eqiiipm¢nt. 8igr)age arrnind th¢ building. Toiiring parti&$ dvi%d to bring r¢usabl¢ iK)Iiles. Prolcctillg the eMIryTournellt- Trials have been COTrwleted on reusable the plan is to reve all single use plasiics 81N>rtly. A complete sile wide teEycliIiB and waste reduction plan is in pro5S, water coolets itjsialled in paftnuship with Chrislian Al minimising paper usage a¢ros8 tht Site. We implementing a ttavel monitoring policy lo h¢lp T¢du¢¢ our rbOrt emi$sion$ and offer more 0Oionslf%ililies en(oura¥e more gre¢n ITav¢l. Plani b8s¢d foo milk off¢rs fly ¢v¢ntsl staff and cusknm¢rs are b¢ing investigated. Workingwith touring COM1¢S in house teotThs to produc¢ nK)r¢ SUStsiTJablc produciions BulldlntyplAnt-A new offi¢ebuildirtgoTh Ira¢kto bein thetop Ilfknof SUStsit]able buildings in the country is about ¢0 op¢n. Plani aryj fabric ¢oTrJilion surv¢ys ¢ompldtd 10 replace old curr1 systems with mort effi¢irnt and susthinable plant. Electric car ch8r8in8 point has b¢eTh Italled a1 we arc Iwking al dectri¢bik¢¢hBrBing WiDIs Structure, Governydnce and Management Th¢ governing document of the chariry comprises its Memorandum and Articles of ACiation. The wmpany is lin)itedbyguarante¢ nol having a shar¢capiial, andpossesse8a Itcel$SucdbY the Deparnn¢ntofTradcp¢rnutting th¢ omission of Ik WOTd-linyl¢d" from sis Thall. General Gover4Nce TrustttrrtsIAl1eftI. aAdtr#irtlng Strong 8ov¢rnanc¢ and management art ciitical io our 5UCCe55 ar tatIOn. We have a Board of Tr8t¢¢¥ that rake8overall respojjsibility f0TtheCharity#0UrWurk. It Is1esFxslb]e forensutirt¥ w¢oreeffe¢tivelyandproperiy runand Ihatwemeeiour8oals as a Charity. As partof our£onl]]U8 leamirtgpr0ce. everytwoye8rs we internally review 3rd perforniance a89inst th¢ Criteria s¢t out in the cod¢. Tr latest rwew was wmpleled in May 2Q19 t wl¢om¢ of whi¢h was v¢ry wsitiv¢. We have just completed a review of our memb¢rship of th¢ Board whith has s¢¢n a number of changes (please sct page 211. We are planning thc next Board pcrfornMn¢¢ r¢w¢w to take place through the lai¢r part of 2023 once thi3 new group hassettled. A full list of olh¢r board m¢mb¢rs Cats b¢ found on Pa8¢ 20. Thts includes two youn8 TTuslc¢y who provid¢ an impTrrtanl voice for our k¢y stgkeholder group on all matters. Th2BoBrd apwintsTrustecs lo sery¢onth¢NominalionCommill¢e. wknSerol¢iS ke¢p utxkrr¢viewlh¢slruclw SiZ¢ar wmw)sitionof ih¢ Bo8rd. As vacanciesarisey poier)tial candidaitt ar¢appro¢hedon all individual, targ¢t¢d ba5i& Ensuring Board diversity is a key ¢on$id¢raiton Ivkn making Ih¢sc appoinmients. For some posilson4 including Chair, w¢ s¢ar¢h agwts and 1v¢rtIse widely. Truslecs are appointed for an initial period of11ce years and typically serve for a further three years beyoNI this. N¢wTrus*¢s are indu¢lol tniothewoTking8of The R0undhous¢TnWa various activiii¢s inclJ1g bTi¢fings froni th¢ Chairnian, Chi¢f Execuiiv¢ L>ther staff as appTopriait, a TTusie¢ Induction Pack and tour of t ROuthouse siteajxi offic¢s. On80ing iTaining is provid¢d to TttS as r¢quir¢ 19
THE ROUNDHOUSE TRUST TRUSTEF.S' REPORT FOR THE YEAR KNDED 31ST MARCH 2023 Five board rftmkrs of the Board have Served longei than 6 years. Marcus Davey is oti the Board by Vir¢ of his siiioj) as C]Mef EXtliVe Offi¢Et. Caspar Normin TepTt5ertlS tl Nornthft Trusi WIK) were founders of the RohoUse Trust and ow) the uThlerlyill8 lease for the Roundhouse siie. Nick Allott 1$ an industy sptcialist who has provided imtx)rt3nl conlirniity across many areas. In addiiion, EllaB¢nneii, a HR specialisiand Etienne Johnson an aftisl %vith wide experi¢rK¢ of Working with young pwple ¢Knd¢d th¢ir tern15 to ¢nwT¢ stsbility during the 0n8 of RAdhoat Works alongsid¢ Paulinc Tambling who chair¢d th¢ slxring gTOUP for th¢ PToject. A Charity governance wde, ertdors by th¢ ChantyCommi5Sit>n #NI oih¢r indu5tyFAxti4 was tbliSh in2020 With ourTtusttts we have ensured we are substant1311y compliant wtih Ihe code. The c(Kle asks chaflties to'apply OT explain-. The following dre areas wheTe we knv¢ not appli¢d the ¢txle's provisions and why we h8ve taken that deasion.. At the year end The Charity had 16 servin¥Trust¢e& a laT8 BoaTd SI than 12 r¢C0Ttllded bythe¢trJe. ForThe kouthoUse tIK numberofboard members is impacted by two faclors.. Yo Trusie¢s As lughlighted on pa8e 20, y¢ar th¢ Roundhous¢ apwints ar least two Truslees w]K) are under th¢ ag¢of 25. ThEy normally serv¢ for a period of one year and act as a key voice for youn8 people at board level on all tnatteTS. We have appointed Ihreeyoung Truste¢$ rn 25ih May 2022. Brea Ih of activil A key stn8¢h for the Roundhouse i5 the ve15alilily of its operatllJ8 mod¢l wluth i5 undupintrd by a variety of activiiits. ]n an ever-chan# ellvirDnment, it is ¢5s¢ntial thAt we hav¢ the Tight rnix of skills am&4 lh¢ Trustees woup. A wder ran8e of cxpcrtise aJNI expErience lo draw on i5 Ellabl¢d by a larg¢r &iaTd. trIll8 2022123. a numbcrof TDAstec ]X)5ilion5came lo Ihe e1 of their term. As partof the rttnjilmentof new Truslees. a delail¢d exucise was carritd out to reyicw the Skills rwuiTeunl veisus our 5 year businc55 plan and this infOrnd the rtruitment criteTi&. On page 21 you will s¢e a tte cov¢ring Ihe r¢ttnt appointm2llts aTJd resignxtiojjs. Due the reuuilmeni proce deiailtyj above. the fonJKIJ Teview of the 4rd pthrma¢ ha$ b¢¢n (klay¢d until laicr 2023. Alx)ard awdyd3y take5place annuallyto C0Tr5idcrarwof ch8nBe and lorevicw wf0mn¢¢agalM3t0urr1ye- yVdT amkn"tion. Exien)al r¢wcw evcry ihrtc ytars 88 r¢commtnded in the ce will be considEred in 2024 onc¢ the¢mTht¢rf¢oknrt ofTrustees have had tirne to embc Diversity consideralioji 5jts al the hart of 811 ROundU$¢ activity 9j 18 alway5 knEdd¢d and suprtl by our Board of TThteeS. We have ¢oJJsiderably div¢Tsified our Board over the last yeat and hay¢ now met gendcr aTity 3nd global may)rity iargeis siaied irtour busirtets platb. OrwlsNdott&lslruclure The Board Df TnLStecs meels forn]ally ev two JTh)nths 10 review all Ihe activities of the charity and to provide straiewc diT¢Ction and guid3]K¢ to th¢ Ex¢cutiv¢ team. As a Tnte¢, th¢ Chief Exttutivc attends all Board me¢lir along with th2 other mcmb¢rs Lif Ihc Exxutive team. InadditiOIh to themgin Board ofTTusl¢es, there aTeBoard committees which workwiih the Executive leamto review and provide expertise and guidance on 8pwifJ¢ arcas of the Charity's a¢tivilitt. These wmprise the Busiiiess, Audit aTh4 Risk Committ¢e, lh¢ P¢opl¢ Commilltt (including duii¢s pVioUslY covered by the Nominations Commiiieel. the Snvesttnent Cornmilte¢, the Ethics Committee and the Can4)us Committee. The Chgirmgn of th¢ Bogrd and the Chief Executive metl andlor speak regularly atsd the chan0r the Busine8& Amdit and Risk Commiiie£ has rcgularcommunitstion with thp FIna[e & BlESs Perfonnance Dircctor. 20
ROUNDIIOUSE TRUST TRUSTELS, RkPORT FOR THE YEAR ENDFD 31ST MARCH 2023 The Board atd Executive team work logetkr to establish and devclop the chdrity's overarchin8 objective5 and 51ratYgii di[li0n. ResS]bllity for the day to day operations of The RIKTndhou5e TTUSI has bE¥n delegated by Ihe Board To the Chief Executive. who. with thc EKe¢utivt ttdrn. wo9 within the thThlegic framework, operaiional paramders and iontrol environmeni tabliSh by the Boa. Th¢ r)iTXIOTS' Group wmprises rhe organisation's Chi¢f Ex¢cwiv¢ & Artistsc Dir¢cior, Vcnue Director, Partn¢rship$ and Impgct Dir¢cwr. FInE & Busine$8 Performance Dire¢tor, and Commercial Dir¢¢ior.'I'his 8roupme¢tsal Icasl ttx)nlhlyy rc¢¢ives fe¢db8ck from all other organisational meetings a[ $)18 dirwlly to the Board. There is a InthlY meetin8 10 dissertynak iwrtant company information and receive cotnmmts Bnd feedback from ststy. SNbsith4Yies "rk rinanciaj results of the trading subsidi8ries 8re consolida1 into those of the iioundlM)usc T1 in Ihese Stslemcnts. Any ne¢lion between # Trustee or senior manager of the charity with a ¢ontrablL)r, consultanl production Conwany. conlract¢d arLisL JKrffrrnr or exhib¢l&T must be disclos¢d to the full Board of th¢ TTUSte¢s ill th¢ saTn¢ way as anyoth¢r ¢ontTa¢lual relaiionship with a r¢lated party. Not¢ 21 d¢tsi15 th¢ reiattd PSTty ITa)Isa¢tions r¢wrted ill Ehe yedt. W¢ would lik¢ 10 hi&Thl)ght h¢re lh¢ followiDg-. The Norman Trust holds for Ihe benefit of Ik iiou[hoUSe. Caspar Norrnan is a TnLSteeof both The RuuJYJhouTla[TheNOrn)9TruSt. FurtlKrdelaiLsofth¢T¢lalio]yshipithieenthese l%vtsentitiesareiYe8enied in Nottr 21 to the accounts. None of our Trnstees Teceive remulleration or other benefits from their work as Trusieu. Marcus Davey who i5 Trusltt rcc¢iv¢s rcmunerntion for his role as chic( Execuiive and Artistic Director furth¢r d¢tails ar¢ provided in Not¢ I I to lh¢ accounts. Pdy PoliCyforECtstivt TÉW Th¢ Board ha5 del¢¥aied Ihe resp)nsibiliiy a]on8 wilh the newly fornied Peopl*s Commiti¢¢, for deciding on th¢ salary of the Chief Execulivc and his Icaduship team (the bxccuiivc luml to th¢ Chair and subset of Trustffs. OLJtsid¢ of th¢ Fueculiv¢ l¢am a wmmill¢¢ wmprisin8 tl)¢ Ex¢¢uliv¢ d1ctOrS awj th¢ H¢ad of HR 4r¢ responsibl¢ forselling pay acros5 the org7ntion. 21
TEIL ROUNDHOUSL TRUST TRUSTEES, REPOR'r FOR THL YEAR ENDED 31ST MARCH 2023 Reference and Administrative Details Charity number.. Company nymLKr'. R¢Bisiered OtTJce'. 1071487 03572184 The RouNihouse. Chalk Farm RoÈd London NWI 8EH The Roundhouse TnLSt is incoryotat¢d aNI dorriciled in thc UK. The charity al80 tn&kes itself known as'fhc Roundh)us¢. Trkn$tsti of The Rouodbow8e Tr¥$t The follo%vin8 have bEen Ttustecs IhrouglM)Ut l]K p¢riod to the dale of Ihis Tep)rt, unlessothcrwise stat¢d. STurner- Ch2irrnan A Adepitan (Tesigned 2 May 20231 N AIIDtt N Ballan-WhiTe E Bcnnctt S Bhaskarlrt%igned May 2ff231 l. c.larke Davey- Chief E%e¢ulive & Artistic Dire¢ior S Dzinor¢va l Johnson R A Luff lapwinted 8th Feb 23) R Naik lappoint¢d 8th F¢b 23) C J Norman K O Marfu (aP71Ed 8th Feb 23) P T8mbling S Wood Iresiw•J 291h March 20231 L Wyxlham lapwittd 8th Feb 231 Fach year Ihc Roundhoux apwinls al l¢ast two Trust¢¢s arc under25. 5crve for a tKriod of one year ajhl aci as a kty voice fot young people at ts)ard l¢vd on all tnatt¢r& Over this period the Youn8Truste£s %ver¥. W¢yland M¢KcDzie-Wiitcr (resied 2nd February 2022) Molly Schiller Iresi8ned 25th May 20221 Chloe Bingham lapw)IMi 25th May 20221 OriBna J¢mid¢ lappointd 25th May 20221 Eiiztheth Sit¢k lapwillted 25th May 20221 CompA•y seeretary Philip Wattins Key muxgemellt persOttl forTke RDdhOuSe Tru5t*nd It5 subsldlary T]Je Roundho stEx at Marcus Davey- Chief Ex&utive & Artistic Director Michaela Greene- Parlnersljips and Imp9cI Director Michael DiKDn- Fina[¢ a[ Busin¢ss P¢rforniance ThrtOr Charlie Wijcratna- Commercial Dir¢¢lor Rowan Kitching- Venue Director ExEcutivE leum for koulldknuse Trddi Limited al the dale Ilie rtwasa roved Mar8 Davty- DitOr C28PaT Norm8tt- Director Michael Dixon- Director 22
THE ROUNDHOUSE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31ST MARCH 2023 Our Advlsorj ANdltOTS Crowe U.K. LLP 55 Ludgatc Hill. London EC4M 7JW BaT¢I8yE BarLk Soho Squer¢ Branch 27 Soho Squar¢ London WID 3QR Waverton lTrvestmpnt ManaBemenl LiTnit¢d 21 Sl James's Squèrt iA)ndDt4 SWIY4HB With¢rs LLP 20 Old Bailey EC4M 7AN 23
TIIE ROUNDHOUSE TRUST TRUSTEES, REPORT OR THF YEAR LNDED 31ST MARCH 2023 Trustees. responsibilities in relation to the financlal statements TheTtustees (who are also the diTeclots of The RoundhouseTru5tfoT th¢ wrws¢s ofcomp8ny lawl ar¢T¢5ponsible for preparing the Trnq1¢¢5' RerI and the financial statcmcnts in accordanc¢ with applicabl¢ law and United Kingdom GenErdlly Accepted Accouniing Standards {Uniied Kingdom AcLouniing Stand3Tdsl. Company law r4uires thc'fnLslee$ lo prcpar¢ financial slatenienls foreach financial yearwhich give a and faiT view of the stai¢ of affairs of the charitable wmpany ?tMI 8r()up and of the incoming resources and application ol resour¢¢5, including thc inconie and cxpcnditure, of the charitabl¢ Company and the wup for that period. In preparing Ibcse finan¢¢al SthlcmEnts the Trustees are required to.. S¢lect suitable ac¢ountiug policies and th¢n apply ihcm consistently. Obscrve the methods and prinEiples in the Ch3ri1ies SORP,. Make judg¢m¢nts and esiimales that are Tedsonable prud¢nt'. %lai¢ wheiherapplicablc UK Accounling St3lldards liav¢ been follow¢d, subject to any mat¢r¢al depanures disclosed and ¢xplained in the fina31 slalemellls., Pr¢paT¢ th¢ financial siaiemenls on the going concern bBsis unles5 it is inapgyowiatc ty kYC5ume that Ihe charitable ¢ompany will coniinu¢ in busincss. The Trtee5 are reswTbsibl¢ for ke¢pin8 proper accounting recotds that disclos¢ With T¢3sonable aVraCY at any lin* tk financial position of the charitabl¢ ¢ompany and group and enable tbem lo ensure that the financial statements comply with the CompBllies Aci 21N)6. Thty arc also responsible for safeguaTding the 8ssets of th¢ charitsble company and group 8Tr1 tt¢¢ for tsking rtasot)ablc sIEPS for the PTevenlion and deleLtion of fraud and olkn irre8ulariiiss. Thc Trnslees are rLwnsibl¢ for the maintcnance arKI intC8rity of the corrx)T31e and financial infomiaiion iluded on th2 ch3riwbl¢ wmpany's website. Le8isJalion in the Unit¢d Kingdom governing the Preparation and dissemirtationgf finmcial ststem¢nls may differ from ItSlatiOn in otherJuri1Ct1Ons. Stotemeai 1$ to the dtscloswe lo authtor8 $0 f8ras w¢ 8re aware.. therc is no relev3nl yudit infornialion, being infottnaliDll nEeded by the aulitor in connectioTr with preparing their r¢wrt. of which th¢ group's audiior is unaware. artd th¢ Tru#e&q, having madt erwuines of fellow diY¢ctors and the 8roup's auditor that they ought to hav¢ individually lak¢n. ha each tak all steps Ihat helshe is obliged lo tak¢ as a dirxior in order 10 make themselves aware of any relevant awjii infonDaiion atKI to Ktablish thl the 8J]¢or is awa of that Intornon. The annual yeport 2nd accounts. iJKluding lh¢ stratwc r¢FQrt, was 8AJroved by the BE&YdofTrnstetsand si8ned on their beh8]Iby'. Marcus DaY¢y ITtU5kel Dak 24
THE ROUNDHOUSE TRUST C.ONSnl.IDA TF.D STAI'F.MF.wr OF FINANCIAI, ACTIVITIF,8 FOR THE YEAR KNDED 31ST MARCH 2023 Independent Auditor's Report to the Members of The Roundhouse Trust Oplnio W¢ have adited th¢ financial staiernis of The Roundhouse Trust I'tlr ¢haTithbl¢ ¢QDipany'l and ils subsidiaries I'ihe group'l for the yeBr ended 31 MBrch 2023 which comprise the Consolid8ted Slatetnent of Financial Activities, the Group and Chgrity Balance Sheets, the Cowolidal¢d Cash Flow Statemenl and mles lo Ihe finanLial statements, including signific[ Bccouiiling poli¢i¢s. The finaiicial reporting rlI1¢wOrk that has b¢¢ll appli¢d IheiT PT¢pardtion is applicable law 8]Ml Ullitcd t&ngdom Accounling staTds, ITKludJng financial Reporting Standard 102 The Financial Reporting SiaTrJard applicable in thE UK atKI Republic of itelatwj (unit Kin8dotn GcnErally Acc¢pt¢d A¢counliD8 PFarli¢¢l. In ouropinion Ihe financial stalements: 81V¢ • true and fairview of th¢ slalr of ikn wup's and charitable company's affair5 a5 al 31 Mah 2023 of thc group's inconn8 resources and application of resource& including irs income and expendire for th¢ yearthen e]xI. have bcen propxly prcwdred in attordanc¢ with United Kingdom G¢ncrally Acc¢pt¢d Accounting Praclicq and havebeen prepared ill accordance with the Tequiremetits of the ComFollies Art2(K for opinioD We collducled OUT 3udii in aCCDrdace with Intcrnalional Standards on AudilinB IUKI IISAS IUK}l aT¥J applicabl¢ law. Our reSPDn5ibilili¢s undeT those standards 3Te further dESCtibEd in the Audilor's respDnsibililies for Ihe auditof the financial 5t&temEnts section of our report. We gre ind¢pendentof the group In accordancc with the ethical requittmenis thai ar¢ relevant 10 oui audit of findncidl s131ern£nls in Ihe UK. incl¥ding the FRC'S Ethical Standard, atyj we have fuifjlled our oiher dkn'cal rewnsibilitics in accordance wilh Lhese rcquirements. Webelieve Ihai the audii ewdence we hav¢Obtain3 is sutTL¢ienl aftd approwa provide a basis fotour opinion. CoDcluslons relatlng to gotog con¢ern ID Auditing the fIn8ncial 5tal¢rn¢nts, w¢ ¢onclw1e41 th#t the Irustegs use of the D)ing¢0[rn basis of awouniing in ihe preparation of Ihc firncIal statctncnts is appropriate. Based rn the work w¢ ha performed, we hav¢ not identifid ary material uncert3inii24 re13tiRg to events or conditions that, individually or ¢oll¢ctiv¢ly. Thgy cast sigllificanl doubt (sn th¢ ¢haritabl¢ wmpany's ability to continueas a going collcern fora PLYiod of at leBst twelve nnthS from when the financiBI ststeTnenls aTe authorised fori&sue. Our rcswnsibililies al the iesPDtLsibilities of thB truste with respL 10 going ncern ar¢de5crib¢d in the r¢l¢vdnt s¢cions of this r¢FQTL O¢b¢r illforniatio The trustees are responsible for the othET infDfJTiation contained within the annual rwrt. Thc othcr ij)fornialion comprises the information included in the annual rewrL oiher than t1 finanlial Slem¢nts and our auditor's report the0n. Our opinion on th¢ financial slai¢m¢nts docs not cover th¢ olh¢r inforniatioll and, &xc¢pt to ih¢ t¢nt9thtrwige explicitly 81al in our w¢ do Dot ¢ypr¢55 yny forni of Bswran¢¢ conclusion Iher¢on. OUT wonsibility is to Feyd the other inforrnation gnd, in doing so. considet whether the other infommtion is mal¢rially illconstettt with the financial Statements OT our kTh)wled8e obtained in the adi1 orotlkrwise to be matertally missial&l. If w¢ idcniify such maiuial trKonsist¢n¢i¢s or appar1 material missiatemeM& we ar¢ T¢quir¢d lo detettru whber this 8Lves rise a maierial misslalemeni 11] the financial Ststem¢S th¢mselvt& If, based on the work we have performd. we ¢on¢lude that there is a material misstatement of Ihis other infonnatioN we ar¢ required to r¢trf>rt that fact. We hav¢ Mihin8 to Tewrt in this r¢g&rd. OplDloni oll other mgtters pres¢rlbed by ttL¢ ComTMDiey Act2rfJ06 Ittouropinion basd on thework UTKiertaken in the course of our alt the infoTmaiion giyen in the Iru$iees' Tewrt. which ilUdeS the dirtOrS. rep)rt and the stratt¢ re[rt prepared for the PUTSe5 of cotnpany18w, forthe finartci8J ytarfor whith the financial statements are prepard is consisE¢nt with the financial $lal•n¢nt5', and the stratpgic r¢pK>rt and thedirttors, repK)rt included within the tsustees. wort have been prepar&t in accordance with applicable legal rquiremenls. Matters ott wblth we are requlred to retM)rt by éxteptlo In lighi of thc knowledge and under8tathJing of the charitable company and iheir environment obtailled in wurse of th¢ audit. we have not idcntified malcrial missiakmenis in the stralewc report or Ihe directors. report includ¢d WLthin the irnsi¢¢s' rep)rt. 25
TIIE ROUNDHOUSE TRUST C.ONSOI.11)ATF.D ST A TTr.MF.NT OF FINANC.IAI, AC.TIVITIF.S FOR TIIE YEAR ENDED 31ST MARCH 2023 We havr TH>ihin8 10 rcp(rt ID rtspEcl of the following mattcts in rrlaiiun to which the Companie& Act 2(K)6 requiru us to Tepon to you if, in ouropinion.. the pgr¢nl comwany has not k¢pi ad¢qualc ¥ccountig T¢cords', OT the pgrent ¢otnPgny financial ststetn¢nls Hre not in agreeTrt with the A¢eouniins records and r¢turns' or crtain di5rlosurr5 of trustees, remuTrEralion sprcifird by law art Th)1 mad¢,' OT we have ttoi recei¥ed all Ihe infonilIOn explanations weTequir¢ lor our au(lit. Re5ponslbllltle¥ oftrustees As explained fully in the Iru8ites' rtt%pon8ibililies $iaiemelli Isei out on page 241, the $teeS Iwkn are also the diclots of the ¢haritable company for the pUOseS of umwdrty lawl are r¢8wnsible for Ih¢ pr¢rAralion of the financial Itrtts al for bcing $aiisf¢ed that thcy a iyue and fair vjcw. aTh1 for such inlwnal control as thEtte¢S detemiine is necessary lo enable the Ipal0 of firtancial staiemYrtt& that are frtt from material misstat¢rn¢n4 whether thLe 10 fraud orerrtrr. ID preparing the finaDGial stsiem¢n15, tk tru$iecs are r¢swnsibl¢ for assessin8 th¢ ¢h8rilabl¢ wllpany's ability to Continue a going wllcern, diwlosingp as applicabl¢, matt¢rs r¢lal¢d to going¢on¢¢rn a[ using the wing ¢oncem basis of COULMingunle5s the tntte$ Cilher iniend 10 liquidat¢ thc charitsblc company or to cease oper#tion8, orh8ve no realisti¢ liMtIVe bui to (k) so. A¥dltor'$ respon5ibilltlps for the of th¢ finAll¢iAI 51atemeDts robjcctives are to obtain Icagonablt au[an¢t about whtiher the fina121 st&lements as a whole ar¢ frtt frotn material missiaitrmeni, whdheT due to fraud or error, artd to issue an audiior'$ rep)rt Ibai includ¢s ouropinion. Reasonable 3ssuraiice is a high Icvcl of assuranc¢, but is not a guarantee thai an audit ¢ondu¢ied in accordan¢¢ with ISAS IUKI will 8lw&ysdeIt a matrrial missMt¢m¢ni when it exists. Misstai¢m¢nts aris¢ from fraud or error aiKI 8re considered terial if, individually or in ts ag8r¢8al¢, th¢y could r¢wn4bly be expttled lo influence the economiG decigiorts of usets iakcn on th¢ basisof thesc financial stalcments. Delai15 of the exlenl lo which the audit wa5 considered capableof (kiEcting irrcgulartiic& including fraud and non- mpliance with laws and regulaiions are sei oui below. A furth¢r(ksoTiption of OUT rtswnsibiliti¢s for th¢ audit of tl fit•n¢ial $tttemertts is IocAted the Financial ReFrf)rting Council's website at.. WWW.f.o -aUdItorsrcS sisibilitic& Thisd¢rriptiOfft fomts part of our audiiofs reporL Extsllt to wkleh the ludlt eon$ldered ¢Apoble of dtte¢rfng Irregulrlde¥ In¢lvdlng fraud I¢Pularities. TlUding fraud, aT¢ InSts¢S of nOmPlin(e with laws a[ re8ulRtions. We idElltif)ed and &wsed the risks ofmalerial rnisslalement of the finallcial 51atetnents fiom irregularTties. whether due to fraud orerror. and discussed these beNveen our audit team members. We then des])ed and perfornied audit procedures resp>nsive to ttmkse risks, includingobtainittg audit evidence sufficietti 2nd approptiate pft)vidc a ba818 for our oFxnion. W¢obtained an uThJustaThJing of Ik le801)Ml T¢8ulaiory framcworks within which the charitable company 2nd 8fOUP op¢rat¢s, focusingon thos¢ laws WMI i¢gulalions thal have a diTecl effecl on thedeitrniinaiion of material amtsunls and d15¢1osures in the financial statemcnts. The18ws and regulation$ we ¢onsider&l in thisteXt were.. Charities Aci 2011 Companies A¢t2W6 Chariiies SORP We assessed the requirvj tompliance with these laws It regulalions as partof OUT audit pro¢¢dur¢8on th¢ related finala1 statement items. In additio we wn5id¢r&4 prowsions of DthEr laws and reBulalions that do t1 have a direct effttt on the financial statements but COTnpliance wth which rnight be necessary to thc charitablt company'8 a1 the wp's ability to operate or avoid a JThat¢rial p¢nally. W¢ also ¢onsid¢i¢d Ilropp)rtunilies and incentives that exist within Ihv charitabl¢ compgny and the group for frau The laws and regulations w¢ ODsid¢reJ in this ¢ontexi for the UK operions were: Charity Commission regulalions General Trdla PToi¢ction Regulation IGDPRI Anti-ftaud, brib¢ry 9Ni corruption Iwslation Hcalih at]d 5afcty legjsjalion Employtn¢nl l¢gislation Safeguarding legjsldliojt Auditing sta[ardS limit the [4u]r alIt PToc¢dures lo idErtiify non-compliance with these laws and r¢sulations lo ewuiryof thc ITUStss 8]Ml oihci managtmeTht atMI In$ett0 of regulatory and legal coxrwndcn¢¢, if any. 26
THE ROUNDHOUSE TRUST C.ON801,IDATF.T) STA TF,MF,NT OF FINANCIAI. AC'fivi'i'iFS FOR THE YEAR ENDkD 31ST MARCH 2023 W¢ ide)Jlifi¢d Ihe eates1 risk of maierial impaci on the fiMan¢ial siaiem¢nts from irr¢8ul8rities. including rtaud. 101 within the liming and rttognition of grnni income and donaiions. completeness oftrading income 2nd the ovetrideof Irols by maiiagemenl. Our audil prLxedure5 to respond lo these risks included enquiries of TnanaBtm¢ni and th¢ Business, Audit & Risk c(n[nittEe about their own identifiTrlion and assessment of the risks of Ttregulariiies. sample tttsiing oli Incon the wsting of JournDls, reviewing DccounliTrg esliniatcs foi biases. revitwing regulaiory coff#spomdcnce wtih the Ch#riry Commis8i0tt, 3tkl readin¥ minuies olm¢cliTJgs uf those charsed with governance. Owiiig to th¢ illh¢r¢nt limitations of an audiL ther¢ isan unawoidable risk ih we Tnay wl havedetEcled sotne tnakrial mis51atem¢nls in Ihe finan¢ial stst¢mcThis. even lhO8h we havc properly planned and p¢rfonKd our audit in accordance with audiiing standards. For ¢xampl4 Ihe furth¢r remov non-cotyTrplianr¢ with laws and regulaljons IiTTegulaiitiesl is from th¢ events aTMI Irallsaeiions reflected in the financial si&temenls, Ibe le$ likely the inherently limited procedures rffjuired by audilingsl3nd3rds would identify it. In addiiion. as with any audit, there remained a higher risk of n-detectIOn of itregulaTiiies, 9$ th¢se may involv¢ wllusion. foTg¢ry> int¢Trtional omissions. miSTepresenlalions, Dr the override of internal Gontrols. WE are not reswnsible for preventlTh8 non-compliance and cannot be expected to dete¢tnon-compli2D¢e with 811 laws a1 Tegulations. Vse of out rtwjrt This report is madc golcly to the ¢harilablc coJTrpany's mctnber5, as a kndy, in ac¢ordart¢e with Chapier 3 of Part 16 of the C()iiip411i¢s Abl 2(K. Our audii work has been uJid¢ri#k¢n so tIl we nii¥lil si#1¢ 10 lh¢ cTrwrilable collipany's niembers those mailers w¢ar¢ r¢quiTed to stai¢ lo them in an auditor's report aNt for no oihu purpos¢. To fiJll¢st ¢xnt peDits¢d by law, w¢do not accept or a5sum¢ r¢snsibIlity lo anyon¢ oih¢r than the ¢hari¢abl¢ company and the charitable cottW3ny'5 mernb¢rs ys a trfKIyJ for our audit work, for this r¢wn, or for the opinion5 we have forn. JAyne Rtswe SenioT Ststytory Audstor For and on behalf of Crowe U.K. LLP Slalutory Auditor London Date." 6 Deceniber 2023 27
THE ROUNDHOUSE TRUST CON.801.IDATF,D ST A TF.mF.B INANCIAI. ACTIVJTIF,S FOR I'HE YEAR ENDED 31ST MARCH 2023 Unrestrltted Fu#ds RtFtrlrtrd P[grrMME Fllud$ £000 Re5ttactrd Capltal Fwid¥ Totsi 2022 uTrd$ 2023 tncDrne 2J3 1.294 1.436 rbarltable actSvlly 5.724 1.806 7.530 9.¥76 acdvllley.. Commercial dijga¢tItityS 5,459 5.459 3.041 I05mOnttMe 236 236 Iorne 12,4 14J19 I&KI Ewdlt¥r¢ Coit fund5 3.965 35 2.983 a¢tivitivA RoUndhoLc c.4[1¥¢ Pwgraminc ftt yrt9 knplr 3.322 3.330 2272 Pr(thciions 2,023 2,499 2.031 2.502 1,580 1,727 MUSK Hires Mdintsining & UDprovtng ihe 453 1.577 1.322 Sb 473 9.440 6,YJl TtsiAl¢xpelldilur 12,933 479 35 13,446 9.884 OperiiN%5ury4u51{defftffity 1453) 60 135 IW72 $77 143) 1431 487 Netthcomtl(txpertdIts) (4S31 i¥60 1029 5JJfA Trdnlferbettvtètt Cll#ds 4,303 14L1651 1138) 14605 (216) JJ)19 ReConcl&dO[Lor(r•ll Tal Funds bn)u8hi forward 11,454 21,853 6.292 39.fAI9 34.545 19,248 676 40,6J8 39,fAPJ All trnrtSti(JnS arc Ocrived from coniinuirtgactivitic& All rwTr8Dis¢0 Bai¢LS and1055e5 aT¢ includ1 in ik atnei of fittaril acliviiie on pJTr$ 28 to47 fonn rtrthCr firyn¢i41 siaittncn 28
THE ROUNDHOUSE TRUST C:ROIIP AND CHARITY BAI.ANCK SHFF,TS AS AT 31ST MARCH 2023 2023 2023 Charity £ono 2022 Grth Chorfty FIXÉD ASSETS Intsng1b fi%1 T4ngibl¢ fiAed IDY&qhnents 13 14 3021¥ 6,076 30.218 076 25,541 6,292 15,541 63Y2 Tothitlxed wsets 36J07 36,507 31.924 31.924 CURRENT ASSEIS 5lIKk Trddt and rdeOrS Cfi5h at b8tsk aiid in 85 2.655 7.655 68 15 4.387 9,344 4691 Totsi turretttAisets 10.393 Cr¢dltor&.. fW d•¢ wy¢ar 16.2621 14J70) 16,046) P4F.TCURRFpifASSFTS 7.685 7ffj85 TOTAL A&SETS I.FtsS CURRKPIT LIABILI11Eg 40.638 40.638 39,fA)9 39,(I)9 TOTAL NET ASSRTS 40ffi 39hOg 39019 FUNDSAND REt>ERVFS FdOW¢nl 17 17 6,076 10 19.248 15,304 6,D76 292 10 21,853 11.454 6292 io 21,853 RcsknctedcJpitAI fund4 Uortsirietd hrtdg 19248 15.31)4 17 TfjfAL FVND5 AND PISERVES 4038 39 39 Wilh in¢omeof£9,059,416, Rnd cxpendiiutcof£9,440,327, IhcrKt incomcforthe year fnTthE EILble crnpaoy ¢ald £1380.9111 (2022.. £3.143.8321. ThiseAcludesihegift a[donation £3,559.668Q022.. £1.920.5921 from Roundhou$C'I'Yading. Thc notc%ffl 8¢828 47 form part ofihesc fin010[311tellts. ru)anLial L4wereappmYedand authoriscd for isglleby Ihe BogrdofTTusw&DJ ¢T sigth on ihtirbehalfby.. Mareug [vey rrrn5ll 29
THE ROUNDHOUSE TRUST C.ONSnl,IDATTr.D C.ASH FlA)W STATF.MFf4T FOR THE YEAR ENDED 31ST MARCH 2023 otei 2123 £ooD {s) 2022 Netr¥yh provlded byoper9thKKtlYidES 8ffj03 CA5h nTrwyfrom InieT¢SI Inc¢ Puhas¢ ofian8ible & inian£ibl¢ fixedl19 Withdrawalyartd invcstmcnts fccs 15.r231 {2,989} 766 vKd Sn IAvestiTr¥ a¢llvldes (5,314) Q,2LII nDwsfrfjm ¥0vit Co8h cyrtflow from r¢p•ywtol borrowiTrB5 ¢•Bh w¢d by flmth¢lnE •¢tivilits ChanKe th cash gDd th eq•1vts th th¢ reportlTr8 period 1&9D31 reportlAgyo lJ.558 7.178 Tot1 csk andeaihequl¥kttL Xtthtèbd ofihe r¢portlryy¢r 7hS5 lJJ58 2011 £oth) 2022 A. RÈrntrlU•llwivf ll¢t fMnd5 fro pèrxiitsg #¢dvlths Nrl for tlr rep)rtln¥ Ai y¢rted M ¢1¢ $tst¢wrt tsf f]•1 Ilvlti¢$ 1,029 5.064 Fckdepyeciailth charge GainlliL&l ]nveslTiienL ID¢umE sbDWn ID i11n tivitieS CainlllA)$51vn DisyNI ofFixcd A5iCt5 llo¢r¢8seyDwr¢as¢inslwk I]nrreecrvas¢7ndebIora (Dre)I ]ncre&se in ¢rediioM 887 43 1236) 36 883 1487} 1201 J,l74 Net£8h provlded by0rAleIl¥i¢I lJ891 &603 B. Attwlyjts ush eqilvllleNts C in hand Nnlic¢d¢p)¥iLs Ik55 than 3 months} 6,639 12.545 Totslcash and cuh equivllents 7ffi55 13.558 30
TFIE ROUNDHOUSE TRUST NQTTr 8 TO THF. FINANC.IAI, STA TTr.NTh.NTS FOR THE YEAR ENDED 31ST TrL4RCH 2023 ACC(JIINTINf. PThLICIES B¥Ji5 pr¢ppr•Oy The financial siaicnnts have beth prtyyred in ord8[C wilh Attouniing ad RepnninÉ by Ch&tiiies.' stalelli of Recominuda PraL'ticc ÈppIablC to chan11% prcrr1ng ihcii aLrounts ITh xcor&nce with Tr"inancial KwNiThg stay8rd$ bliCable in t IIK and Rcpublic of Ircland IfR8IQ2) rlTcclivc l J&nuBry 2UIY)- {C'.hariiy SnKP IFRS102}), Ihc finanEial Re[ing sturd 4pplic&ble in thcUKand Kwublic of lYtIat IFRS 102)And th¢CompJnie5 Aci 2W6. rhcchrily mrcl5thedcfin1li Df&publ1mclilCntilY unthr FRS ID2. A55c154tk4 li&iliticsarCinltiallyNogttiscd&thx%ithical c( of tslln5acliDn v&luc unkn oihrtWi5¢slatcd in Ihr rcl¢vanl accnunling lICY PrEpNrxtloTr oftbe b1 H&vin8&SFLwd thrch&TIty's IinAn¢ialposiiirm. 11splarr6 lorlh¢ lorrsffabl¢ fviU. Ih¢risk¥ towhich ilL%Cxcd thrdctail hrcco5ts fi)r p pcrird ol'ot Irasi 12 monihs fro1 Ib¢ daor31¥ill& th¢ Trustw5 aT¢ 5Olis1icd IhAt it prnal¢ 10 prepare the fin3ncl #lliaK¢nison a goingconcem $1% Le Ststu& ofthe Trt Ttusl (Ch&nly Numbty 1071487. cpTrY Nllmtv035721841 1$ lutiitalby wjarantee te¥i4tet¢d i En¥l&Thland Waleu¥nd no sharec&iMtal. lrt the eveniof theeh8rttythSwthdUp, Ibe liability irtrewt ofihe8uaraTrteÈiy lim?ial tTh£lO perrnen)berDf Ihe ehArity. TheT[l'S dre&% isThe Roiitthous4 ChAlk FTm Rthd. InOn. NWI 8F 15ayL% •fe•Tr5011d8tion "Ibe group fill8ncial $18tements t£1ld3tc Ihc finBncial stalancn15 Df chaTi1&b artd iiy aciive juhidryI IIoundhouSC I'rndin$ l.imiie4 M a linc by litK Ajpxmiil by SC¢ii 408 0l.ihc CrxknpanlACt 2U06 thcinEomrandrxpcttditurcol'theeh&tiiy isnoi pres¢ntCd8SftorthC&C accounts. lfr¢profJi&nd IossA¢COuni forthc iyadingyubsidiary 1gpfcscrtAscpsrnteIY in Notc4. The PArtht eknrity bag takth advaEt of dloslltr ¢X¢TnPtion und¢r FR5 102 to$¢paratety discknsecAtewit5 of fijlatiti ID$ttum¢nts knd iiein5 Qf ¢xpEnw or re14t1g to in8tyuTll¢ni$83 hpvebw pr1 on 4 gtollp ba515 ID then0810 rhtaLlltS atMI also p[trIng a parttti ertlityortly cagh Ilow StaettI. Th¢ wup financial strieats FAve è18D on * wNrt8 eLyLtt tr&L8. Tht w>knig concern stdiemeTri in ihe Tm91 re prOldeS moredaail onibis area. CritKxl key 5Durctofe5thatlon In th¢&pplI¢1QnOfth¢8rity'sOnILDrM?1iCl¢'1rU3ie¢sre rLNuired io mak¢ judgcrncnty.e51irn9t¢54ndwvump1D8qEXwl tht catryTrn# v&Trut$ ¥[ asgds snd li&bilitir¥ not r¢&dily apphrent from othv ¥QUT¢LX. CSiimat¢s attd a&WTnptioTrsare bjwl on h1stonl ¢Kperiew¢4ndoiher f8¢iorsthaiare¢oDsideT•Jlo ber¢l¢v8ni. A¢D)&l TL7ulL%aydlfr¢r fro tE¢$bIat¢s. 'rhc tstiihttl¢$ 8tsd as$umpiith5 a¢ on.gTring Rw5iQ to ¢SLirtwt¢$ att rt¢o#ttL¢d ITr th¢ wiod in whi¢h Iht cstimÈL¢ is I¢w$ ifth¢ affrrts only Ib• wjtwj 01 in th¢ p¢ii(Kl of th¢ TCviSiOtt Iftherevi810rt4tt#ts th¢¢uff<t ind Jrt the Vithv oftheTrnytee8 theohlysikttifimL¥YiIÈl7nsIT¢th linktdto t l0¢#hon Or$p)n ¢(K$ts{ya8rCbAftttb Ad tton<haritableAetiViliel. Allocati¢di$ ollhi$naiuTe inht[cntlyulrCc$¢1ti0ftIm¢#t on tt)tiittactiVitsty spaeeused artd OtIrres Judgefflth. 14x¢ 8 wvNtrsm¢t¢ lnf0ntwtD on tb¢41knuiiort #ttd¢lo¢y. Jnt•m¢ l in¢¢me isrteoEntsedwbertth¢¢hatiiyb•s ¢nthtiwJwtto ¥4YperfOtMan¢e¢odLtiShOv¢b#ll trtei it Lgptobable that the in¢om¢will bei¥j and the aOnIOrIh¢ re¢elp1 mekwr•J wirh re4wnabl¢ aUraCY. Gr8ntifKom¢ i$a¢wuntol fQTWh th¢tharityT5 w1iil<dloT¢wgNiibvln0nIcS. 15 dpferrpj IrihapWdIElQnsf0rus Inwinc frLKn v¢nuchir¢s andtdInglIVlILe5ureaC(4)Ulcj for on firrxeivab basis. Income frorn iickct 5oi(4 includlxdwithin ih¢AnisticProgratnine. 15 deferrd ifihe pErfOrmance(Bke8pI¢ in ihenexr¥ttouniin8periLMI. Prod*0 costs And lTreome Pre.producuoncosts incutred llj re%KttI or& the&itt Bje rCle to the Slatunent of Aciiviiies over iLS ¢xcwt whettit L% that fvluY¢ prtyyllctltyts irt¢om¢ will iYJ$uffici¢rtito ¢ov¢rihw¢wL% Simllarly. produ¢tiw wifj¢ QT grpnts r#rivwJ in ratri¢¥J f¢yward and T¢ktsed ovet thed of the pr4dllrtiODTUn. Ih)Dated Se¢¢¥ aAdfscllltlpi Gifts and 1Ved kind arc irKLUd within donHiion5 and charged 10 th¢ res[lIv0 cxpendilure heading wjthjn the Swiemoiiof Finenci&l Aciiviiies ai rhe be51 iYlllllQte ofih¢ir r4)en market Y&lue Drih¢ir wjluc LO Ihechariiy. In accordance with the Chariti£g SORP IFRS1021 the volurtieer time L8 rtot Yew8nis&l in financial tthThs. See page 12 of Ibe rwgitt's artThu&lrwi lorre InloTSlJllion this ¢(ntr11tityL 31
THE ROUNDHOUSE TRUST NnTF,S TO TIIF FINANCIAI..8TATF.MFTr4TS FOR THE YEAR ENDLD 31ST MARCH 2023 Eyndllure ExwndiNre including I¢Teu>¥erablE VAT is charged to ihe &Awneni of Financral Aaiviii¢s w an accruals basix Costg DC 8en¢rinR fvnds thosecosts iNurred 10 rAi5e voluni8ry itKom4 the CQSL%0fidig¥cIiVilr forthe putrKttofrnising funds 8nd inve&meni mdnawneni fttB. C05ts ofaEtivilic5 in funknaNc¢ofchhrilghlcobirctivrs rcprcnl the dirtxi C05L3 ofeach È¢iiYiiy tO8eihcr with &llot&hnn Df rt Thr allo1? of cn8ts 1$ lll2dr on thc knyis of a woportion of ¢XKthdlits th8t Jctiwty oy Count whithcvtris the m tElnIC0stdttvCr. Govcrnac8ts incurrrd in IhcclxItllII tsfih¢eh4rity. ()n owA5iTrn. thid¢s makc rllrY tbr tmnin&tion pwrts for DpefAtiort&l tcasons. Thesc i thc K)FA on ao accwal$basi5. T•TrBlbk flxed a55ets Tan8iblofix¢d assctsaresthtedaicosi. t)eweciaiionha5beenchargedonthercnov4tionco5ts0n Ihcba5i3nfthetunainingltfeliinc ofr4ch indival a55ei and char8ed io the reslricied capithl fv. Dcprffiaiion is Provithd Ri the h111ing anttual rates irt Order toWnoff e4ch 958ei overits ttiiillal u8efvl life.. t£a5ehotd prOpy81Yj1ldU1$ fabric R¢VIlln costs over the rRriL of the leaselcwrenlly 78 years [lyaInIng) Ovrrthe ofiht Ic8s¢ ifiinkd to Ihc ILYy¢holO PfopBny 8rd buiWing'. Dthm bttwtcn 2 Ènd 50 ytars vatious rnte& between 2 and 25 yethy Fumtiureandeiwipmetii lthe group'5 poIIcy i5 to capitalisr all Itc abovc a valur of I5W.'The canyin8 wdluc ofthc lehOld wwcny is Qvalu for impirnlrnl Dn & rrButsr Ixsis. WI[ thc C2Trying v&lur of thc prtspety ig ¢SIded 10 bc imp&irJ Ibe diffcrcTrc¢ telwLrn the txtstingcatwngvaluca thr wiittcn dtwn valuci5 iaktsj tD Irkrveg. Intslib fJx¢d Its 'lthe pureh8ycofrtew COmwterftw&¢t h&% bcth capithlisthl wiihin assei8&5 they (elate 10 Ipecilic cwditurcwhic drivc5ant1cipcd futu[rbcfi.1)rcbr0ll8ht inlousr itanbIrS¢ts0reaM0rtlstd0nAthit-llueb3oWxlhennIiC1pd uyefvl lif¢ofthcyottwar< tyPi¢8lly 3-5 prj. Fixed asyei inve911ct5 ale incluLknI OJJ ihe bAlanee sheet at markei vfiiue. R¢DI11 And arKi k)sses at th¢ y¢Ar- end fir¢¢diCd Brtddebittsl to thestatrmeni of littancial aciivi¢ie5 in Ihe)wr in whichtky arix. PeN51Dn coTrtrlbutlDllS lThc¢horiiy opxas iWO8tsk¢holderpension Schc&whiCh4r£ &vaiLgbk toall employ% Pcn3ion¢wtrIbc¢htyryJto thE Sthnentof Fina18] Activitie345 th¢y b0¢th fi$Tln¢tMd1Thg0rothtr in¢tr#¢IvIwl1hN1rf¢tI<1Jth w. D¢81 fvlldsatt2mouNsthsiwted by IIK Tru8tx4 from rQrlj reB¢rves foi the srKrific purp(wB oullinwj in the notes. R¢sth¢i¢d fits Ate amounL8 rtt¢iv¢d towords apartTcNlarprogrammeorprojKt. capit fund3ar¢wnountsrK¢ivAI wwaTds th¢pw¢h)gcolcapithl asse48. Enthwrntnt fiuhJ¥aT¢wNowts rclj kYillvg8ttnenrto pT(thT¢gub&r inr(w¢tD fffjd tiViti¢$. Sts¢k The Trusi h4$ fin4n¢ial liabiliiie5 of 8 kina quolify as bo5ic fil¢181 instrument$. &$i¢ fitt•rrfSal mgitunjentg are ittiti8lly gnisej * iran5R¢tion value and 8Ub5WUIlY me&SUr ai 4inortiwJcost Using th¢th¢l iiiturst llthod. Fifilttial Ds5d& h¢ld 81 amortis&l¢os1 coJbprL8¢Ca5hat bank &nd inh&nO, otherdeOr9dd accruth in¢ome. FiThBn¢i&l I11115 h¢ldalpTnoni8ed cost comprisc trade and o¢kf crcditors ornd 8ccN&ls. Inv¢sim(ts hekl part of inv¢511n¢ni portfolio. a¢ldI1 raValue at the b&knetsbttt d&t¢, Wi and losxs t*th¥wisedwithits aodexpeDthre. Lw¢i Annv41 Ten1 for opM8ting lew i& ¢b3rg¢d lo th¢ 51atemeI of Fin0n¢i A¢iivrfit$ m a strAi8ht-Im¢ basis the le l¢nn. wherein¢ is r¢ttiV&bkwthTOffi stwcr¢Nwl agre¢tnents il 13 r015 in th¢ St&¢t0rFlaoc1 Activiti¢$ on raighi-line b45i80V¢Tthc ILwe t¢rni. 32
THE ROUNDHOUSE TRUST P40"1'Tr.,8 Tn THF. FIiYANf.IAI. ST A'fF,MF.NTS FOR'I'HE YEAR ENDED 31ST MARCH 2023 INCOMF. FROM IM)NATI(JNS 2023 2022 £00 Gifts Don8ty1 knico9 1394 IA36 The r[Ln dt)naliuDS for IhttyEar was £1,293,858. Ofthis £232,955 12O22..£321.51j ftt¥ifiLttsl io expenditure relal tothenew Cainpu5 Proj1. The Tru51 15 grful io Wiih¢rs l.lTr fTrr iheir legal supp)rt a¢rcL&S & r3n8e The valueofiheir Surourl in Ihtt year has b llInal L5 £109.78412021.. £105.9541. Dnn¥led services In 2022-23 also irtcludtsl Ihe ¢alLulad valueufddvice froin RB Hd7th and Saf¢iy Solulions L. The es111 valueofih2 SUFpon is recvgni%ed wilhin irtcomeand on equival¢n¢ within support cost The RouThlhou5e ha5 MgoinR and very valu&blesupwii from 8 8roup of volunieers who help wiih visitors¢rvices for inLQrnln8 Inusic gnd artisiK perfmnances. In ordin¢¢ wilh FRS 102 and ihe Ch4riiies SORP (FKS1021 Ihe ecwomic conirihuiion ul general volun1* i% not reco81115LxI in Ihe4CCOUnlS. INCOME EARNED FROM CHARITABLE ACI'IVITIES 2023 21122 £000 frorn Muyir Hi Tirkci 0j rc101 iwrnc ROnd0ON115s1Qcd work Bimrtial futLdraiginggalA Art5 Council Englld Naiional Portfolio Funding GrdnLq received underCoronaviru8Job Reienii(th Scheme Art5CoNncil England - Oih¢r inccthe from Irusts & LowateSpon3orship Ilujkd 10 ¢hfrtiiabkA¢llvlty} MemEed)ip Schemes C.ouTre & Project lir]udIn8reld1wJ rwm hireincomel Oiher Sundry Jrtcome 3.408 255 993 W3 536 I,5} 391 67 7.530 9,876 The RoundhoLW¢iv&I from Ariscouncil EThEknd,a BovernnnI fU¢dorns8lI0n,asocO[ih¢7rNwl1Ona1pOff(O1tTr LK8ani94tioD.2022-23 wasihefourlhye8rofanexiedthrce-yergrnl agre¢ment,whichsaw ih¢RounOhous4rrfeive£992,648 h year. gtgnts at¢ unresnithed 01810 the%1¥10n. In Ihe2022-23 finAnci41 ye8rArtCouncil En8JandALsoaw&rthd IheRtwjnthoadd1il0ThaI 109JpAth¢0rsanIlOW1th Ihe CAiiipusproiect. The5¢alOuL% Ire shown und& Arfscouncil EnglaJOIh. 33
THE ROUNDHOUSE TRUST NOTF,S TO THE FINANCIAI, STATFMEIYTS FOR THE YEAR ENDED 31sr MARCH 21b23 INCOME FROM OTHER TMADiNC ACTJVII'JES The chariiy hag two l(KWty owntsj subsidiwy Roundhouse Tr8ding LiTnilwJ and R4undhouse IlucIl09 Limit. Icomwy numtw056726881. Roundhouse Prod1105 Lid LS curr¢ntly noi tTading. Th¢ reg1 offitr 0[lh Lwies is lhesume thepatentchariiy b&d¢wil ID not¢ l 8ndIy)th¢ryDpaDiAre [)[9¢dO[idTrmi(I1 th¢u RoundhwsE TT8ding Li5niWI'5 Icojnppny 056726911 prin¢irAI acTivilies gre sple Df PTiVat2 hitE fatilitieg attd i or¢rAiionofknandLwtsin8fscilitiy5wilhintheiiourNJhW.¥llh¢rlaIQli1SPW0 Sumtnu[is fit111 InfOrn10n Prolit Ind tws tDcom¢froth Priv&LC Hiye Income Bar& Cateriniofalith% 01¢¢ Renial ]neome & SeNice Charge O¢herTrading 1,680 2.955 950 462 268 5.459 11.9481 3,041 (Irts pft)fit 49 13.5S)I DOn&tll fjift Aid forthe¢t BalAn¢e Currci Jkssets CTcdit". knountsfalling wilhinon¢year 4.17U 14.1701 4,757 14.7571 Nd Euttcnt Call¢0 up 8h&r¢withl Profit and Ios accnt INVEsfMFM INCOME ThETtUs1'5 lo2 in¥c$ml incornerf£235,904 (2022.. £108.058) isderived frtmn rericd£doMent lundinveMmeni tn¢om¢ ofEI17.931 (2022.. £I07,923)d income from inier¢51bearingdep0511 aCeWnLS of£117.97312022.. £1351. ANALYSIS OF CM)sfoFRAI8ING FUNDS 2112J COMnnI ts>dill8 ¢ostof$th Share of5uprth eiw govemknct& dePrect 1.947 1.081 %47 J,123 Js I,Y29 36 [hcl Ctb5t¥offurydrai$in8alldwbliciiy ShaTeofsupp)rt gtrvernantt artd dewciaii(mcoits 725 123 2.983 34
THF. ROUNDHOUSE TRIIST NnTF.S I'O THF, FINANCIA T. STA TFMF.NTS FOR TEIE YEAR ENDED JIST hL4RCH 2023 APIALYSIS OF KXPRNnlTVRF. ON CHARtTABI,E AcfIviTIRS RoAdhDUSÈ M•$ Illre T•tsi 2023 CÈuiJYt Pwrlmme & Ifflprovl8 the bulWI 2022 £wo £ow £wo Arti5tic&ctrahvc fc£ Costume & sd build eosL8 LAr1 liv¢ 51reRming co Tutor& ftts threL'tin#n4wrJeni, prthlucerandLOtMdinalor fetts tArec¢ r1¢Y costs FquiCnl kni& mainienancc Pcrforming ri#hL goEieiyroy31tiL¥ Travel & suwstenee Llirc£i IDarkthingsupport 263 29 35 50 38 309 3.337 2,454 238 246 49 367 224 20 39 379 325 88 255 30 39 50 0¢ rniKellan¢x>u¥ Govwnanco& suroortCO8LS(Se¢NO8- Supprt d D¢EYw>gtion cost Rllocqiion iablel hare of &prccibtM)n ISc¢ 8- &Jpwrt tkprteiation C1 allocalinn lablc) 50 32 88 139 315 2,892 2.030 1,097 608 810 Total JJ IA77 9A40 6.9Tr2 ATr4ALYS15 OF GOVERNANCE AND suppojrr cosrs The table below deMiL8 the ROUbS¢'3 Yjprrt COSLI by arca."I'hwe costs are appon1o0 using th¢ b1& 5ummari5cd bebw r035 IhcchariiablcaffliviiiLY undert&ken. bjndrajn8ac1IvLtICS8ndIh¢¢thMerCl4IoperlIoS.Thc&0vCrnattCcC0st3 aroasutré ofe4ch area &nd haw¢ betn ideniilicd by considmiiom ofihe Costs in c&ch ctstcgory Artd &re alk81¢d on Ihe 5tsme kni8 85 thc 6UNM)n Costs. t)eprla110Th 15 ngShoWn sep4rAt¢ty d¢ toik significani ¢ffeei ii hs overall 4prtn¢t ihe IDicgr4ied nJNre ofoursuppotl thciion ikb38i9 ofalio¢&iiorL usesa tsumberof8ssumrrtiorn ¢Iml ¢tneY•l Sllppo CD5ts £orA> Tot•1 2023 EWO Total 2022 Buis fvr the•llDn EQOD kniorm&tta8ement ovttsi¢ht in8nCC 79 24 151 All0ed tiilJC 298 AIIoc8lLxI ficiiviiyliime 496 A]lorni on lim¢ 399 Allocalcd on activityhime 226 AlIoLat ontirne 38¥ 553 fh5 299 90 553 ITwp Tickaing s Visiwts WViCqS 1]d general %tturity Building op#4tlof4 m#inMpnr¢ & cie4ning Admini5raiion office 'I'cthnical Mana81 suprrfxE 2W 60 1.446 1,452 950 AIlw& on4ctiviry 163 Esiiin&le of8p&w us&1 145 Allo¢aleJJ onaudi11uM aeiivity 297 297 'I'thI suppjrt costs exc]•th8 dcprerknllon 15ec column A in qbie 40OS 109 4,114 'I'otaJ tkprcciatii 887 %87 Ey11nte ofspacelAsgct UK Totsl.%ppJriCwts 4,192 109 5.101 J,771 35
THE ROUNDHOUSE TRUST NOTF,.8 TO THF. FINANC.IAI. STATFMFNTS FOR THE YEAR ENDED 31ST MARCH 2023 L5 ttlltsrttlinn iable The aiKiv¢ Suppom ddrEat7n wff¢alio¢thJ Bcro&s ih¢ followin8 &rellg CeAeral Depreelilr•n Spport CD¥trs (Colullln A £0 Totsi 2023 21b22 Icolunln Bl lrt sUPrt of commucial iroding opcrations (see NLe 6} ITr support of fundr¥iiill8 and publicity Noie61 SuppDrtofchaT1lab aciivities (SeeNoie 71 59 847 2892 810 3.7Q2 2,832 4,114 887 5JIDJ 3.771 NET INCOMING RESOVRCES AND EXPbNDII'VRL FOR THE YEAR 2023 £0 22 Thh li $tsted tEÈrtbr8lBg: Depre¢11 & of Intsngiblcas Ainonisaiion ol'lusc AuJiioT5' mnunerdtjon-4udliryK<s TrustEe ImIlY TnyuronLY 56 852 24 2D io. ANALYSIS OF STAFF COSTS, sfAFF NUMBERSANDTHEC¢ISJ3 OF KEY MANAGEMENT PETLSONNEL 2QZZ £Mo Stff thtr wort ai toUovA.' Wagts and Mlan S1&1 Sttufilyc05t5 Qlherpension cO%L% 5,539 495 207 143 6.241 4,480 PTriOn CosLX4T¢ allrtated 10 artivit& in linewiih 15thInscOstsllnd arewholly ch&Y8ed t01¢neted (unth. No redtsrtdancy payments were mrd¢auTID8 Ihcyvdr12W22.' nilTr. No ex-¥tatiasknynnts werE in theyearl2022.. nill. Th¢ Thuinb¥rofanpk)yees earninguviy£.O perantsum wde 2023 r44mbtr 2022 NllMr £oo.wi -no.w) £70.001-£80.0(X) £8n.Wl -£90.OW £,11 - £100. £l(K),001 £1 10.WO £110,001 £120,0 £120,001 -£130.(KJO £130.001 £140.WO £140,UOI -&150.WO Twelv¢ etnpknye&R12022.. Six) relvingMnllTatioTh oT£tO.IKK) £YrnQTen1cIPtd in the¢harity's scheme. Th¢ Lothl ernpl0yerLwniriPIl for th¢year w$ £9&07112022.. 155.583). 36
THE ROUNDHOUSE TRUST NOTF.8 T() THF, FINANCIAI, STATF.MF.NTS FOR THE YEAR ENDED 31ST MARCH 2023 The verB8e Olp10y¢¢$dungthtYe8rWertt 2023 FUraising Creative Program& Pr11 FO & Bpv¢rn8¢ & Evenis Ttthniettl & Build Serviceg Vi8itoYs Servire5 C8pitalProJe¢t 54 86 47 35 56 37 26 57 47 287 217 Th¢ktymItsgwt twsothnel ofthr ¢j¢Up thcthiYityciJmpriy¢th¢TruIttt8 th¢Feiy¢ Dirtor&The iotsl vtylweof thp etnploytt benefits ttt£S8o.o36 (2022.. L524,888 I'KugrEES' REMUNERATION AND KXPKPISES ccord4¢With th¢aulh0NtyconlITrpJ in ¢law¢4 (bl of 1h¢¢Fwnty'$Mtywwththttd ArtiCie8ofAS¢i&Iu%4 on¢llu5te¢ who an emp)r¢0[1h¢p4nYCiVJ r¢mw)pTrt1o thtrin¢th¢y¢o¢. ]ktsilgolthe a)DUn1 pid atesetoui lOW. SAlary attd L*trrt 2023 202Z PemslD CtsDtrlb•tlons 2DZI 2022 £Mo MJ Davcy 139 26 25 A 1Otol ¢f 13.437 was paid irt ¢xtxxw• foT thL8 ¥xhpJo>t¢ its thc ccAmc of CBllyUL8 ther thJI1 ¢mpl¢>y¢o. No ¢xpetsw were rAid in2021122. 12. INTANCIBLE FIXED A[8 Growi & cknrlty Sy5ta Ai 1° Awil 2W22 Additions Wriieoffs AI 31. 2023 3fO) At I. ATAiI 2022 AmoNisalion forycar Writ¢of& 93 69 Ai 31° Marth2ffl3 147 Ne¢BotskV#lry¢ At 31. mt223 Z13 Al I. Aptil2022 91 37
THE ROULYDHOUSE TRUST NOTF,.S TO TIIF. FINAf4CIAI, 8T A TFMF,NT,8 FOR THE YEAR ENDED 31ST MARCH 2023 13. TANGIBI,E FIXED ASSETS Group charlty Lea8ehdd FurnI1re& Assets •der Eq1pment Crnitrurlb) Property Oiher BwlidlTr Costs Ttytal £fj Al 11 April Z022 Additionl DispML¥ 3.1 29,312 ZQ6 3,674 3260 5,137 39,346 5J3 Al 31, Marth 2023 29.475 &397 Depreei•iioTr Ai I Aptil 2D22 Dwe&iation . ye4r 10.129 3,085 222 13,804 {245) Ai 31. March 2023 626 10th82 3.069 14,377 IYetBotskV4lwE At 31. M4frh 2023 2A74 1&793 555 JoJJ8 At I"Aptil 2022 2,SD5 19.187 W41 All fixed &gsets *reu$ed forckntAble wtpm from awt&relthg to byroTwJratenng¢quiwMrtsnd tho¥¢ r¢lDlingto ITr DsiThciion Ènd fit-LWt ofthecaE lThcethsiandmet of I1èTea59,645 £12J36 rtsp¢¢tiv¢ty. tn addiiion the iniereyt bem ill the by fhc NorttWD 'frusi, tour fithdin¢ b)th(8 bav¢ l¢eal ch8rg¢s OV¢T th¢ Roundhouse. INVLSI'MK 2023 2022 Ir 6,462 V&lLK4t l April 6292 WithJtatval& R¢inv¢sled In11¢[¥ ]nv¢gttswi fres Dn in (7301 136) 1431 Mk¢1 Volu¢ ot 31 M&rch 6,076 6.292 UK Fixed Iniere51 UK F4UllleS Ovmea5 Ewiiies O¥w5w Fix&J Interesi (".H¥h held lor InvclCThl 875 482 4323 397 365 4,8J5 449 M8rk¢i Valupai 31 March 6.076 6,2 Histori¢ Cost 1131 M3Tth 4,9)5 No indivithJAI invwnncnikld than 5% ofthe iothl poff folio. 38
THE ROUNDEIOUSE TRUST iYOTTr S TO THTr: FINANC.IAI, STA TF.MFNTS OR THE YEAR ENDED 31ST MARCH 2023 15. TRADF. AND OTHER DEBTOKS Crppp 2023 £0 Charity 2023 Charlty 2022 2022 'rt&d¢ d¢blo i)ue frthn trHding 5ubsidi4ry ALtYucd inci?mrand ptyytnentS olherde6)r% VATreeob 875 489 481 88 234 149 418 55 2,653 3,810 4,387 Aiiiounts dlle from thesubsidiary repr&ls tht&rtwtsnipaythltdue tr)thewfi aid thTration of£l.983,3W12022.. 13.173,002). Nok4 rxovidttg rtwredeiail Ihe dor1 uttder8lftd. Jfj. CREDITOIIS- f#Uity#d wllhlTh fyn¢ y¢r Grnttp 2023 Chlrfty 2D23 £Mo *rtty 2022 2022 Tr4de crediioTS AU1d to trodiDgsyb5idiary Oiherctedilois 1388 1.329 1335 2,016 3.525 3,294 145 l J35 Accrud$fithddefr((th I01¢ 2,813 2.491 0262 4L370 7.451 6,046 Dofwr¢d in¢WTroWpfk5 amounts r¢¢eivpJorknlkd forwhi¢b proi¥t0rexdIlltoc¢kws in a futuye fin4n¢ial y¢¥rdEtails ofwhith follow$.' Gr•¥p 2013 Croup 2022 Chllrlty Deferred I•coJne 2123 Orth J)alorK¢asai I. April cf¢Trod incDrnC fLwgni5LxI in thcyr Drkrrcd In Ihcyc .672 11,470) 1,632 623 1.070 (7181 1,320 439 370 374 u131' Mwrh I34 420 1,672 623 39
THF ROUNDHOUSF. TRUST NnTfi.S TO TIIF, filNANC.IAI. STAI'F.MF.N'rs FOR THE YEAR ENDI4D 31ST MARCH 2023 17. ANALYSIS OF FUNI)S Transfe BetsYeeTh 31. M#r¢b Fund5 21ll3 I"Aprll 2122 Re5•wrceb Expended GalTr l]tvesimtnt Resourees Generdlyeservc (Xher fundy.. tksigN&ttd fixed awts tksignall Lapilal fuThJ Dcsi¥naied cainpus fu tksignaid fvndsother 12.477 433 1,800 6.687 650 I,o(KJ 1294 4.878 11.565 650 428 861 Total UDr¢sm¢d fvnds 12,480 4,303 15.3D4 R¢$th¢t fiuth.. PtDgramm¢ fvnd Endowrneni nd 6292 2,908 6,076 1,639 Campus Projeci R¢sfftcied Seciiom 106 4W 400 R¢51ri¢ted capitsl funth.. her 18,945 18,467 39.609 113.446) 40.638 Gthcrnl rv The unrtytnCt¢d ¢thtt41 fuTrJ 15 aVlabl¢ lo ihctargcts 5& oul in ihc RlV Policy as in lh¢1hS on pw 14. ITh¢trAiÉfrib¢twJ lue is th¢ n¢Lof rhe1ronsknlYfrn ihc following fund5.' Tr[L (t¢yrrL desi1ri 5¢¢ furvj Trongfer iioyfttmn desi¥D&ta fvnds tsthcr Tronsfer ItoyfrLKn desi8n8ted capital Transfcr ItDyfr(Mn endowrncnl fuTJd Trdnsfer ItoyfrLXll d£51sed Camws Proie¢i furtd Transkn ItDyfrLMn restricted Campus Prtrjeci fithd 14.8781 436 372 4.165 433 An explarAiiOn of¢heI[ysrctS is Provid ynd¢rth¢T¢kvpni headin below. n.¥cd ag%ci UDIl[Lcte¥IgNattd fixedo55¢ifund rep]EI5 theFv>Ni0nofnr1nclethfud5WhIch hssbeen inv¢SdiniheRJlld8eW78lk artd Intanble at5 nEI oIT¢lated wis(andingloan5. li has ken clllculed4s foliovs.. Total Net VI tylJni•nbb Fix¢d8wfS 'I'¢tal Nct vttl Dfi-Ényhle fixed a8 itss valur rovcrol hy Rr[¢dC&pits1 Fund18ttbcJowl 213 30218 118,467) Sccbclnw 11,964 The tron5fLY funth valug of £4,877,910 ttptesthis ihe amount Irahsibyttl frkn 8trternl restht 10 bring Ihe valueof IhL¥ fvt pio Ihettquired level. Thi%dcyi¥nated futsl will berClea0Vrthe IifeuftheytsI0Which il Tela,. thc5eaagtttgbaveliveggpannin8 78 ycafh. Lied co 650.0 desi8nBtcd into acapithl R#new&l Ibjnd representingnNnisset &gi& to ongoing renewal and replacemeni of IhB building uifva%inKtur¢.
THE ROUNDEIOUSE TRUST
NnTF,,8 Tn'fHTr. INANC.IAI, STAI'Tr".MF.iwrs
FOR THL YEAR ENDFD 31ST MARCH 2D23
)1 fu
s highlighd in siraic8ic report, Ihe Rd0e 1$ (entlY AddingAddiiional f111t$ ils Can)Jen $il¢ rhal w¢ tsr¢ calling ih
CwnpxL5 proj¢¢i. have been designated i(>cover of ih¢ ticIP9¢ WJ51S11nkd Ihis."lthe value ofthis d¢518natql fund J¢ ih
31 March 2023 w&s£4211,20D.
r nds oiher
The ith¢ indaignwd rs01c[ ai Iheend of Ih¢year is as folknw5.'
£och)
NiwiaThoTtyid n0
l1uilding Infra5trwwpr0Nxts
5J
808
al 0r the tsst few yc8rs, we rettivcd a of unrcstricied don&lion5 in mdnory Dl'a Ifueh-loved ¢IkJe who passed away in
2017. ebEen TraIgTv&led intoasing]E (ksi8naW fvnd. This fund will b¥ ll1 tu suFyrxl aseriegofproject& ana
fund8 in her Iwnory.
bl Thei¥ wei¢ a Iiuiiili ofbuildiil8 i1>1VtOYkn.iiiI[ iiifrdslillilurtwthjects w11 eiiliri 5vdilla0i. wele be1118deveb ai Ili¢yeai-
tnd. FuThl$ have lyn drSiBDAl¢d to cov¢r th¢ wKuMd¢rofih¢wsty T¢tslrJJ lo thx Nonp ofih¢s¢&rn¢unts ho committ¢d
Ih¢ycarcTKI.
mm6 fund
Thc rtsineIprornc funds reprEWllted fund8 rE1Ved PlfAlty for certain crEativ¢ progtamnts otkn opcraiioll&l Asrttty nf
th¢ Rounthous& Ihete We £IO,(K)O ol'unspcrlt progr8]rnnc hndsAsAI 31 Mhrtb 20.
The Lnthiwineni reprtsenis8th0UrtL8Orlgi1IY et]Ved fromltsc Paul IlamlyrtFourtdaiiOrt. The9[¢lnI,Cyte in Jportfoliomonaged
by Wavertorl IrLvc%ttiieht its Otdtr to m&ximisc In¢trn¢ to Lo thc knundsle,8 ere&tive prowineg for young
peopk. UDdet Ihe th¥oing drawdowrt 1¢9 tsf Ihc Ethtrwmtyi ll56,000 rn#d¢ avaib the RotsrtdFKXJ9e'8 chantthie Bciivllie
£117.93) wo5 earn&ddirecily from investinent in0M¢With the renJ&ittd¢rtrwfetTed through r¢gerves.15ee&150 Noie 141
I1Je restrKied capital Campus fvnd represenis 8rnowig Th1¥e0 ih&i are r1¢11 to *xpendiNr¢ M Ihe bjikling for whith we 1¥]
pknning l$s1On in 2018. Addiiional reSlet fuTh19 ioialling £1,638,767 were received in tk years and £4,164.867 wa5 iraD5f¢rred
io general rry£S io offsei4liowAbieexpenditure."lthe remaining ai rhe yvdr
THE ROUNDIIOUSE TRUST NOTF.8 TO THF Tr"INANCIAI, STATF.MENTS FOR THE YEAR ENDED 31s'r MARCH 2023 TlferI Trlelween Funds Re5011TE ExpcNded 31" Mreh 2022 2021 Rtsource5 {Re5tht¢dl £0 £0 1.465 19.4411 11.7261 (Xh¢rfvnd3'. I)csignoid fixed Dcsign&id copi1 DcsignRid campus Desigoatth fvrtdyother 4,175 394 500 2,512 256 (687 65U I,OLM> 1294 978 Total unr¥triF funds 6.847 19.441) 2.520 R¢siricivJ funds.. 8rumme fun FthdowmeDI fund Resillci c&piial funth.. NexiGeneraiion RLSirictcd Lwital fvrtds.. Other 6,462 1361 1622) 11,898) 6,292 2,9 2,9J3 1406) 18,945 34,544 19,8831 4Rg 39,610 J& ANALYSISOF NEf AssEfs BMVEEN fr'UNDS Rtrtrk¢¢d Ullr¢4trlrlEd RNlrlcd Fllnd5 31"M4rth Fulld IngIble fixed a5SdS T&n8ibk fixed a5* Investrncnis 213 213 18.867 30,218 6,076 10.393 6.076 Lutrenl 10,ODI 16.2621 392 CrthitLY8." Im(AJttts fallitsÈ du¢ {6,2621 15.304 19.258 6.076 40.638 42
THE ROUNDHOUSE TRUST NOTF,q TO THF FINANCIAI. STA TwiF,,$ FOR THE YEAR ENDED 31ST MARCH 2023 of A&8as betwM fuodscomFW&Ii for ih¢priory¢ar¢nd¢ 31 Match 2022.. Re5ts4ctrd U•mtrt¢¢td Rr5tr1tted 31" March und5 Fvthji 2022 kntsnwblc fil¢da&S Tn6]bk fix a5Xts InvlMnI¥ CU1 yssets rtditots". wmtywts 17 duB within one y¢ar 91 6596 18.945 25,541 6292 15.136 fl,451) 6,292 1918 (7.4511 Tu81 Dei 888eLS 11,454 21,863 6292 39,(Q9 19. TAXATION 'lThe RoundhouscTrusi isorcg1sththllrIiYandlhfQrc Isn liablcto iTwmCtpxor¢orntlnryt ffl ITWm¢Or¢tiirtsd¢riv¢d fr lis thgrllAblBactlVlll.8 they foll within ihcvariou5 &X¢mPtions Dvailabl¢ 10 rogi51ered Chariti. RouDOhou5c'I'radiDg Lid 15 Ihc wknlly wn¢J irading sub5idi&ry of Ihc R0uThJhou5e'fru. PTrtiT8 froTn iiwty of RouDthou5e'l'rading LarCE•s8¢d The ROuJse7.1 ihogifi aidxhcrnc. UABILI'IY OTr MLMBLRS ThERouiwJhw5eTwst r&tIld 3&aMpanY Iimityj byguwaniegaNd h8¥ntsth ¢pit8L'lThc lthbiliiy ofeachrJJenJkni$ I?mij iDihesum of£io moKbcr. At 31 March 2023. Ir¢W(Ye 19 in¢mbeT¥Q022.. 19 21. RkLAThD pAin'Y TiIANSACTIONt• l) CawNonMan ts a TrLw¢e ofb¢4h Th¢R0bTo •rtd TheN0T3Th ThtsL On 111Janw22,Th¢ RoyJhOU$¢TrUstqlr1a99-YeICaSth0Id Inlcrfstinth2Roulldbw from TheNDrmaThTrt rorU.Im. Thc Mnding forihis purch waswvided by the DfE& AS [rt ofih¢ fuj1g agr¢efftfnl withtk DIES, Th¢ RoundhLwse TDL%i crtiered irtto a fvtrEmrAinn Agrrem¢rtt wilh the DtES und The Normon Tru51 in 2M5. Thi¥ w¢eTn¢m ty Ctrtalrtpr¢•l ri#hLto'lkn¢ NO[tttl.[L]$in thctvtrtt that, ofAd¢hibY The Roundhous¢ Tru51, the tlfF.S its rights lo &ppoiRt a rec¢iv¢ror x¢ks di$p05c of ih¢99-yrnr Icayknkl intCl in the ROkns¢. July 2015 TheP4Trnn&n Tru exrwJFJ Ihe 1eaBegrU ioThe Roundb)TTUSi for14ndadiKeDitv the RouDtthousEfiDrn 25 Yr5 10 99years in lincw#h ihc mÈin Icasc. 21 Th¢ tot41•nJWrti olthiii¢Ths Tei¢iwJ firyn TTUSt¢¢¥ thtritlÈ Ih¢y¢rw8s £68,250 12022". £496,486}.All ofthe& amounts wereTe¥I donaiions with unf¢siri¢t•J use. 3} TheT[U al$D fcccivEd Adon&11 ofE15,OW fromThr tnflrxio hr which SimonTurrKrlCThaimian ofBoard t)fTne$l is a Dit¢uor. This don411 was TE1¥j as orth¢ Rwnd thE HDuJI L18 ig un¥esiricJ ill lts 41 Th¢TruBlhwonBaclivewholly(n¥nL¥j8u1I0Isry. RndIu5¢TdlnRL1e4Lwhi¢1tW)tsslb1CIjtlneoMe8en¢ratill8 aciivitieswhich 8te incidenial iothrTNst'stharitabk wrpLkSe& These m&iDly r¢ter IhBor8ani5aiiun's fwdond&v¢rase or¢tatiOD, evenis hireg alld oifice tell1. Duritig the year Mweus Davey and Michael DIX who key [TrAtgent pronl for Ihc Tnw aDd Cayr who T[ust dircth of tk CDY. R£Kuthuse"frndiThg Limit( 81td £3,559,668 C022.. £1,920,592) IheTru51durin82022-23lsee &lso no41. 21 eOMMrrMKNrs 2Q23 2022 CDpiiAI cMinen- W¢bsiie Proj1 C8pitalComiiiiifiieni-Other A&sets uoderCI)rsttl-caI Projeci 145 1241 6,023 43
THE ROUNDHOUSE TRUST NOTF,S Tn THF FINANCIAI..STA TF1F.rS FOR THE YEAR EI¥DED 31ST MARCH 2023 OPERATINC7 LEASE ]nJuly2015.the iioundhou8eTN318iwedasp•tcrental le¥ewiih athlrdpartyorpttiW. Vn&rth¢trngofihis leN8¢ fvturc minimum le reethvabks Undonw.¢Èrt¢e1knb¢pAiin# I¢w )TC&4 OIIow$.' Grov• Charity 2123 GroLV r2 2021 AwL%rt¢¢iv4>k wthin l year AnL% [1VablE in rnorei l year lex% thall 5 y¢ars 292 333 291 554 291 554 333 625 625 845 CONTINGEKf UABILITILS Trrt¥¢ w¢rc no corLtin8¢nt liobiliiiu &4&Lthebal&nce shttt dth
THE ROUNDHOUSE TRUST NOTFS TO THE FINANCIAI. STATEMF.NTS FOR THE YEAR ENDED 31ST 14QARCH 2023 CQMPARATIVE sfATF.MENT OF FINANCIAI.AcfIviTJES FOR THF. YEAR ENDED31 MARCH 2022 INCOMLAND KXPENDITURE UrtTegtrkiÈd Fulld¥ Rtled Prograrnttiè Fund5 Reitrlethd Ckpltal Ftrnd Endrwment Tothl Furtdi 2022 Total Fwndi 2021 £0 DoTrxtlo#s 322 ,436 2.009 chxrll•bk Acflvlty 7265 2.611 9.876 5268 Irme fv•m vlh¢r G)rnin?cIal trading4Ctiviti¢S 3,041 3,041 108 108 Total Incme liJ28 1933 Il461 9,106 EX1the Cmt OfrLqthifts 2,11 1983 2,185 Expendlm cdvldei ROdh CwTiV¢ rtsr Young P¢opl¢ ROundbce lknduttiong Mugit Hittl tharlthble 1265 2,272 15¥0 1,727 1.386 1,724 Mainta]n& & irnFKovinB BwldTn¢ 1.322 1,382 6.501 40 9)] 5,495 Totil tx11 9.442 406 36 9,884 kurphldE11t) 2J17 (36 4J77 GaW{L05¥1 kn¥estsThents 14 487 876 N¢tIn¢•1¢xpesJknreTr 1527 4Si Tran5frr bekn fund¥ 2.521 11.899) 16221 iYÈtmDvèDwbtltt kndi 628 2J62 offuThJ5 T1 Fth broushi forward 6.847 21.225 6.463 34,545 32.183 IlJ54 io 21W3 39 M¥45 45
THE ROUNDHOUSE TRUST NOTF.S TO THF. FINANCIAI,.STATI,MF.iYr8 FOR THE YEAR ENDED 31ST MARCH 2023 2& A14ALYSIS OV EXPENDITURE ON CHARITABLE ACi'lVI'fIKs FOR YEAR ENDED 31 MARCH U122 Ko¥ndhoust Crtativp PYoermmt 'rDtsl 2022 'rotsi 2021 PdtIOnS Hlre & 1rnprTrvlg Ihe iwildl# £0 £0 138 £0 £0 25 Arii5ti( & crejYc f¢ CwumE & sd build LQSL% Di1 live sltfdmU)¥LOSt 'I'utor& LYJUts¢ kade¥ tees Dirttt IMatt&gcm¢nt,prthlllCerdc¢od1At f¢¢9 Direct Sccuriiycosts F41Eni hir¢& maintendnee PerS)ffliingri2his SOCiY royAliies Ti3v¢I & subs¢¢¢¢ DilwiThe¢inSUPWrt Cr¢dil card trowli(Jn fe45 (Mhcr Miiccllancos 5UKPOrtCOSts 1SccNO8-Mrt nd t)rpTcclati co%l allDLation tabk) Sharg of depreeidllOJI (See Noie 8- ond Dwiaiion cos1 alhcation iabie) 263 29 38 433 25 102 471 212 4Y 2,454 237 246 3,014 22 20 39 64 103 38 46 66 418 50 33 780 67 ,523 585 247 72 478 803 • 744 Total 2272 IJ 1,7fl iJ22 SA94 27. AP4ALYSIS OV GOVLRNANCL AND suppowl. cosrs FOR YKAR ENDED3I MARCH2012 The thbie bellw deiails the Roundhowe'5 gJPWn Costs by 8te4. costs are ap10c using Ihvlwiy swnmalls iyknv acrIMiL.rIIab]e ¢vIll¥sUndek¢. fundrai$in¥ac¢ivit1dfith¢LUtrCll&Ii)IThtYYrancCFOLsarcll¥V 0fh area and h&v¥ ithiiiified by cvnsi¢kraiion ofihe c0515 in eKh caies<)ry and allwoid on thr 5amc b&sis ihc suppori CO5. ttpr¢ci#iion is knngshLvn yyr21ely due 10 Ihe significant eff¢£i li hason ih¢o¥¢Trll PrtY)mrnt. thE iDWted naNre ofoursupwrt rutt1K b4yis ofaliocaiion usesa Dumbernfa55WViOtw ynd uliiDat¢& GeTrerAI support Costs Tot1 2021 forllociitsJb GoveTh•llce 2022 Sthiof tn#n¥ÉeUllt ovttsh¢ Finance 230 Allocatryjon time 245 Allo¢y¢d unauiviiyhime 306 Alltrat¢d on 332 Allo¢At(xl OThtivIty1t$ 2T2 Allw&td On time 278 496 399 22 20 298 HR IT Jupp)rt Ticketing Sayice5 visi19 sffvice5 Dnd 8enerdl 5xuriiy Building InDinienance & ckaninB AdmtnigirailonoC 'I.hnICal managemeni sup 399 226 60 945 60 74 All(Kalcd Dn lir 950 458 Allutaitsl on yctivily 160 EsliinaiEufypa 140 Mloeattd Onauditorivmaciivity 163 145 145 Totsl 5upwprt ClJ5ts ¢Acludkn d¢pre¢lAtloTh (se¢ A in i&ble below} 2,783 105 20$B ZJJ7 Toial tkyrffiaiion 883 883 821 E5111rn 0fsw¢IAsiU5E rotsi spprtcots 306 105 3,771 3JI38 46
THE ROUNDHOUSE TRUST NOTFS TO THF. FINANC.IAL STATEMENTS FOR THE TrTAR ENDED 31ST MARCH 2023 17. I¢oMii•¢dlANALYSIS OFGOVKRNANCL ANDSUPPORT cosrs FOR YEAR &NDED31 NIARCH1012 The atA)veSuppxt 3ntt deprec110 W¢T¢wlloCalaiasll¢ fttliowiDgare& Genenl DepreclidLbn S•pport Costs Icoluinn A) Tothl 21J12 Tolal 2021 lrt $llprt or ¢omm#¢i#l tradl Operatr{See NoieOI' supwt of fvnthsing 4nd pvblirityl5ee No 61 In Suppkjrt tsfcknritabl¢4Liv5hr IS¢eNTrt¢ 71 784 847 75 92 74 2.029 2332 2267 1771 47