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' reSpon￿bIlitIeS in rclation tD the financial 24 statetr*nts Ind¢p¢tKknl Auditor's R¢M to thc McmLKrs of 25-27 The Rou￿￿0￿￿eTrust Consolidated Statement of FinanBial Activitie5 28 fjroup and Charity Balar￿¢ 8hc¢ts 29 Consolidatedlash tknw stste]ne￿I 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 T￿￿te¢s of the Roundho￿# T￿St, 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 Tn￿1 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 Fina￿341 Standard applicablc in Ib¢ UK ?nd Republic of Ireland IFRS 102}. The Tntst¢es hBV¢ consid¢red the Charity Commission's gUid￿e on public b¢n¢fit and have s¢1 the annual obie¢live$, $￿tegies a￿d activities of the or8ani$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 Cre￿iVelY 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 ￿VTder 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 a￿1 AcC￿S to Industry. Roundhouse Works. th¢ staI¢-Df-the-art￿eat1Ye 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 Referet￿t frf our Evaluation Committee in order to better tefle¢t our business platt a￿1 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 eThtrepTet￿￿rSlll"p programm¢s aJHI off-stage gpp(>rtynbti¢s within th¢ Greativ¢ iNlustries. Key area8 of acliwty i￿l￿ed.. Growt Sth l & CommuDi P#rtn¢r$hi This ye3T, we furthet developed oui Creativ¢ CareeTS I￿ou[ce8 for schools. We Tetognisgj a gap itt th¢ fornial tion 8e¢iorof prepBnngyoungpeopleforwhal C2Teersin the CTEative ]ndustries mighibe like. This particular]y focusd on asscmblies in our ttKkSt local SCIM￿)1￿. We have also continued to grow DUTofferfor alt¢rnauv¢ cdwalion Yovidets lthe Pupd RefeThal Units, with Camd¢n Centre for Leatning doubling the number of sessions wilh us a￿1 the Cath Reinte￿tIOll BasE CQntinuing a5 a pBrtner. A$ 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 engi￿eri THE ROUNDHOUSE TRUST TRUS'TEES, REPORT FOR THE YEAR ENDED 31ST IWCH 2023 2Y23 saw an eXtren￿]Y busy Sununer for our Co￿lmU￿lty progrgTnm¢. Th¢ ROU[￿hOuse had a presence ai 8 mmuniiy festivals, with performllnces from Re$idenl Artists, Stslls promollng our offer to yourtg ￿0p1¢, and livities Ibal youn8 people from within the (Y>mTllUllity, Tegatd1¢55 Df backgrouN], could participat¢ in. W¢ also trdined 4 youThg prop1¢ as Youth Ambassadors in this wiod who joined us ai these. We worked with 12 community partners on creative arts ProJ￿ts. The partners we Work￿ wiihand the prDjerts we worked sviih IhemonTan8ed from Queens Crescent Community C¢nlr¢ and Str¢¢t CI￿U5a￿d street dBnie activities. lo the NEST fosierillg netwotk inlroduclory sessiotLS. We have also ￿)rked closety %Trith the Camden Youth Offendin8 Team in fuifillinu repBTaliolls ordets for 3 young peA)ple, and dev¢lopEd our C4)tnmunily EnBa¥ert*nt Slratrgy ioward8 becomin8 a Theatre of Sanctuary, th¢ ar(T¢ditE￿ wh¢me PTovJd¢d by Ihtoty of Sanctuary UK. Our uni ue Creative Studi05 offer & Youth Work Methodol In 2022, our Crcative Swdios Member4hip re-laun¢lied witl) an ey¢-calcliing local rnaTk¢ling campai￿, armi with 8 Youili sup￿11 team 31 their h¢8rt. Th¢ Paul Hamlyn Roundhouye Siudios are now re¥ularly al upacily and we've in¢reased QUT drotFin workshop offer across art forms. ensuring thai - at lea81 once a w¢¢k - be￿nI￿rS ]wv¢ all aLfE5sible OPPDrtunity lo experi¢rK¢ whgt Ihe Roundhws¢ has lo offer. Over ihe past y*dT. the Youlh Supporr Id￿n has bwome¢¢niral lo how the Studios works: I'he le8m now s18ff the front desk and plh)nc lines. en4urJng that a youngpcrgon'g fi]¥t tK>itsi of coni&# at the 8tt￿]0s is a Youth Worku. They admirti8ter our StLulio Credit financial support sG￿[ne. wnducling individual conversations with young people who may rtced to acce6$ the scheme, as well as refe￿Ing thEm to other sctvi¢e8 Outthde of th¢ Roundhouse if needed. A particular¢hallengeweh8veexperient&loverrf* Pa•yearlwbeen &yowthjny(￿tbgp￿1Ie'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 ￿T￿MeT 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 us￿1 a space inour mgiTh offi¢¢ buildingto t¥)5tyOun8¢￿a¢lveentrepre￿Ts. InfornKd byth¢youngpcopl¢ involved. this pilot has enabled us to develop a tnetnbership rnodel atjd pnigramme foiour Frtnanent co-%vorking hub. Feedb￿k from youngp￿pje i]￿1￿ded.. "77te social events helJEd reFmJve u5fvm isolalion. we became a bil Df a reslable as Gfreelancer." (￿r Self Made ew¢nt series, which will b￿Ome parn of our pttmattLt offer for Rthmdhouse Works tnembers. Th¢se e￿llts ¢¢Dtr¢ 510ri¢s arvj advice from ¢reativ¢ ijthty fLgur¢s at th¢ top of th¢ir game. Events ov¢r th¢ past year havc rea￿red Jaykae. Rudimenlal's Amir Amor, Z¢z¢ Mills and Lt 0a1￿U Chocolat. The thirdpilot Aw¢l¢T#tQTprogroJnm¢, which sawth¢ y(wng¢ntrepTen¢urs bthind eight Creati￿V￿t￿rCS lake part in 14 weeks of workshops¥ IIienlorin8 and peer-lo-peer leaTrun8. The programme cultrunated in a pitch ¢veniThB on 17th Apnl 2023, during which Frfrticipants WQD ov¢r £IO,(M)O worth of cash and pro bonts prizesto boost IheirlxLsinesses. Willn￿ Haami Nyangibo, found¢r of Ny9nwbo Gallery. will aLsobe running a VR exhibitio￿ in Roundhouse Works lal¢r this year. HBami described the Accelerator as: "rncredible, so supwrtive, mosisupwthve enviYonmenllha¢l ￿ been￿&. The new buldin8 offers f8¢ilili¢s that transform our offer elsewlkre, in panicular what w¢ can do for Circus as an art form. Our new B2¢kskge Studio is one of thE few spac&4 in London that Cgn gccommodale triple height &erial wotk for rEhcaTSa15 aTxI perfonna￿e5, a[￿ has been vital a5 we reviewed our circus strategy for young crcalives going forwBrd with an ¢Xten￿ ¢onsultant this year. We intriKtllEed a new pro8rarDtn¢ in CT¢ativ¢ F￿l]l￿tion, which teaches young crealive5 how to b¢corn¢ cr¢ative facilitators of their own art forms. This can l¢ad to Ih¢m generating income from leaching their chosen art fomi lo others. as well returning lo the RO￿t￿h(trUse as a facilitator Ih¢ms¢lv¢s. THE ROUNDHOUSL TRUST TRUSTEES, REPOR'r FOR THk YEAR FNDED 31ST MARCH 2023 This year saw si￿lfIcant 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 yo￿n¥ 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 augues p(Kk&5t in partnership Mth Spotify. Tbe Last wor￿ Festtvai •Dd Pget Sl*m In July 2Q22 w¢ presented our Last Word fe5tlV31 with our rKW ¢ampai8ll "Wher¢ Words aliNr" The Roundhouse P0￿ry Slatn Fillal was the cornerswn¢ of the fesliv81, with Ezra England winning the Jwjges Awar and wilha s￿181 wfomiance frotn GcoTge the Poet. The award wiThning The Reccipts pcKl¢aslcame and r¢coTdcd a S￿$1￿n liv¢ wilh BBC IAlrd and, for Ihc first till￿, we hosted a series of Long Table Talk4 deSi￿d 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 $lomforyotsngJpoken-wonl ong ofihe hlghlrghts ofthg Roundhotue. 4ualityorLF amlculiurepw¥iYmime' Tim¢ Oui 'withgFtQieracc￿Sto theirprogrammesfvr 11.30yrolds, le&￿fvI1nga￿mJcd&y1h*irU￿fornj¢I1We￿9teryiItsl o[Ihe collecii¥¥ fEypon5ibility to champion sp¢Kcs like ihes¢.fj1ft￿ By NatUT¢ Risi eytivThI Sin¢e2011. Rising has b¢¢n Sho￿aSing diverse ¢reative taleot of Ihe ihrou8h gigs. workshopsand a¢te8s to indusiryevertisand trainetships.driving ilsdedicationto supp)rtnew and ¢mcrwngartistsandyow)g p¢opl¢ looktng to PTO8ress their careets in off-stage tllUSiC Tole5. In order lo improve accessibility of our festival, we launch￿[ & n¢w £1 ti¢kd offer for wung po)pl¢ uThJ¢r 30. Wc also used a hapltc floor system for all pcrforniances. which tran51ale5 soulld into vibrations so Deaf aryl Hard of HeaEing IHOHI Jjmlividuals betier experience perfomiances. We also worked With TYdrf]]eTS lo co-Gurat¢ Ib¢ festival u]cluding BBC Introduring, Ris¢n a￿1 sh¢5aidso. We weiconxed artists Yune Pinku. ix>shh. Talia C￿les%. and Roundhouge Resident Artist India Shan. Wrapgrou)vJ acilVIty lrtk pla¢e itt Rourtdlk)u5e Bar & Caft. inclwlillg exceptio￿[ open n)ic night featuring p¢rf¢)rniartts from young peopl¢ frotn the iioundhou5e StL￿105. JeRD PRUI G ul r's Fashiom Fre4k Shmv Jean Paul Gauliievs FBshion Freak Show's spe¢ta¢ular summer from the eftd of July throughout Au8u81. The revamped production trealLxi Rudiellc￿ to a dazzling nighi out - depicting the scmalional life of fashion's enfant Égrrible and r&eived bnllianl f¢dback from audienc¢ and PTes$alikc. Sclecltsl highlights below. THE TIMES **** "cease1￿1YIvveh1t￿¢... glddy. excessive... liberaiing embr¢Ye ofbeautyandd4(erence.~ GR4ZJA "A rambunclio￿E. hI¥h-f¢￿h10n￿V¢¢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)a￿l (￿(1 F￿nCh sertsthility. bfyi thtsshL)wmokn a gbod casefvrafew more" THEA TREREYIEWS ***** Alongside F￿hlOrt 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 Roundh0￿Se siie lo life. Celebrating aAI amplifying sotne of the most i]nportanl artisls and voices driyingcul￿rt and con￿rsation 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¢rÈ*se the pronlt ol the Rou•dbou5¢'5 tharltsble ork (h￿b￿Si￿$S plan oudin¢s our communi¢alions and adVoC￿Y plans as follows.. to be known forour unique Tr)dcl of dclivering ground-breakitw youth work itX8ide a world-class v¢nu lo bc resw)nding to, and cvidencin8 impact in, the k)cal wmmuniiy, lo pul youtw wple's voices centre when it comtts to isBues that impact th¢irlive Our ujil ue model.. round-brtlkln 'ouih work l#$lde a wurlthcllss vetsue We wer¢ a k¢y partner in the ¢rvaiion of ?n academic r¢wrt 10 explore aPpm￿h¢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 ￿1￿LivE piovisiuii til a i1￿11117￿rul 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 Rou5KIl￿usL UIivEi15 NL'W C.¥Lalivc C.ri)Ii'¢ 'kvut1dlK)U￿e 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 tre*ive space for young people iogeiher in interviews we did gboui how the energy crisis is ]m￿Cting 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 cxIcn￿vt research inlcryiewing young people about their exp¢rien¢es. The results of this will b¢ releas￿1 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 ar￿nISation. 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 $UPWbrt eIpgllsion plgD5. hpild rcservc5 and JD£int8in our GT*de Il* listed bDlldlLg aDd operate ellYlrollmenlRlly su%t#ltt*bk organ1￿t[o￿. 22123 Saw us build on straie¥ic comnylmenis ￿WardS a more comm¢rcial culture in oui commercial evetlls programme, and maN)r new fvndraising partnerships. This ha8 in¢lud¢d ll¢w wrwr#i¢ p&rtnets our flagship festivals, celebrating our award-winjing v¢nu¢, and ¢apit81ising on n¢w opportuTritics in our prDgramme and with Roundho￿￿ Works 10 launch ￿[d Jlew partnerships. Hlres And Kvent5 r#Dim Last year w¢ hcld two large-s¢al¢ tdey1s￿ events. N•¥s UK, W]¥) Cares Wiu5 (not live broadcast), atyj Channel 4's SlaThl up to C&nccr. Jn September 2022 we Ih)sied an'Appl¢ Music Live. s¢ssion, & reLorded and guest attend perfomianceby the artist WizKid. Jn addilioTh ioihis wehav¢attracled a wd¢rangeofevenls over the last 12 ￿K)nthS (from f￿l0th shows, filmin& awards & Galas and ¢K￿bitions1. In total. w¢ ￿TrOk￿l 50 tyertts this year. We w¢r¢ pleased ￿ win'B¢stAwdrdor Grtlo Ythue'in th¢ Lorthn Venue atxl Catering Awards atbJ'Bes¢ Un#$ual OY Untque VeNu¢'at Ihe C￿] Evcnl Award& THE ROUNDIIOUSE TRUST TRUSTEES, REPORT OR THE YEAR ENDKD 31ST MARCH 2023 Fundral$ln We had an ex¢¢pi¢onally s￿¢￿fijI furtdraising ye8T, over4GhievtnK th¢ tsTg¢¢ by £4(X)L This SLK¢ess was driven 8CTOSS all areas in 2J23: PhllaDthTOPy: ￿r strai¢gic focus on buildin8 stron8. longer krni relationship5 and devdoping philantl￿piC pJrtn¢r8hip5 boih ￿1h major donors and with ￿$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$1. AKO Foun(fation, Portal Tnjsi and the Progress Foundation. Corporate P*rtDersblps.' We have si8nificanlly 8rown this 3reaof worl andbuilisecurity into the futur¢ by se£.Iiringmiilii-yearpRrtnErships. mRlly of wh)m Rr¢ align￿ wilhouryouth pr08raMn￿ a[￿ inaddilion to financial support have ￿Ven their time and expertise through volunletring and mentoving. We h8ve b¢elldelighl¢d 10 renew our patln¢t5hip with Taylor Wessin& Spotify and Bloornber8 znd welcotne new partners Vice, L¢wn8bTidge and Lavgzts. -'Ihg with Al (fayloy we¥$In￿ brilllanil He r¢etrgNtsed (he projeci LIrtd￿lAl￿ our Éjlorts I couldpursue ts buildfinan¢i¢Tlm¢p￿rl. Ile bmke dowpjfinanciul lenninolw an acCY￿1b1e wdy. helml me I identify Trvho ￿YPO1entI￿l￿rther5 c(wldbE. ondgave nKa solldplon iofollowup in expund6wiheAwiewialo[my enterpr￿￿E. Eveits.. Roundhouse Gala returned forour biB8eSt night of fundrdisillg ever and raised a renhirkable£l.18 rnillion. The¢v¢ning was hos*d by Clara Amfo and TrevDr Nelson with bTillianl PErfunndnre5 from Guy GaTYey, theTTevorHorn B&nd. RonThieWood. Andr¢aC0￿, Adrian Le￿er.T¢shaY Makeda. ChisaraAgor. Ruth Awolola and'flje Kingdom Choir. A hug¢ tha￿k 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 1aurjcTr￿d 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 w1n￿l￿g= 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 or￿n1$￿tionS Ihatalign with OUrv￿ue5. Itwas cfjttfirma we susiain ourArt'J Council Fundlng And NPO staws for thc next three years, mrnencing23124. Our capi&l fu]Mtrai5ing for the R￿[￿hOuse Works tr￿1]dIng and ihe new seating it) ihe main space Came to a successful c105¢ this year. Of our £9.2m largEt we have bEen able to achieve £9.04m for this project. With 8Taleful thanks to our gertrous partners a￿1 supwrters. Ob￿CtIVe 4- We wlli prthc¢ m*lDt•ln and upy*de The RouDdhou5e wkllech2Jllplollln% 5UStalnllblllty 4Dd dtllvtrI serviw. We approach this objective by splittirtgit into thT¢e k¢y th¢m¢5 on gnnual basis.. Proie¢iln' malntolnln ondu rAdln th¢ ostate Our responsibility a5 Caretake￿Of ourCFade II* listedbuilding megns regularwork is r¢quir¢d lo keepouT ¢stst¢ lo Ihc high¢sl possibl¢ siandard. In 22123. we undert(x)k a number ofprojecls lo ensuTespaces in our estate are fit for PU￿se forour audiences. our young rknple, a[￿ our staff.. We repaired and refurbished anu]tl)erof office spac¢s in th¢ main buildingiKlUdirgourT￿h Offi¢eand Workshop. Bars Offic4 TickelinK oifi¢A and SNdios Office. We levelled out and resLrfacal our Yard 50 that n¢w piping ¢ould b¢ la￿ for iiwnd)K)us¢ Work4 aml to safely JTh)ve our J*w 5e&ting structure in and out of th¢ Main Spac¢. We conylthed artupgrndeofour seatitig Structure. which wa8past itsorKratsoMal lifcspan. The ￿¢W sealing8miclure was custo]Tr dEsigned by Audience Sysletns lo suit our unique 3(￿degree v¢nu¢. and includes a m￿h greater range of a¢ce88ible sealing options, in¢luding s¢rvice animal seating for the firsi lime. This represents a major upgrad¢ to our offer for 8udiert¢e6 up a mUGh wider rgnge of coKfiguTaiion5 for s¢al¢d p¢rfornianc¢s In the space. contsibullngkna [I￿reat￿bIll0us aTlislicvision inthefuture. It&lsDr¥iuttsourturn?rouThllimesignifJcanlly, maknng a major wntiibulion lo r¥lu¢ing our ov¢rh¢ads. THE ROUNDHOUSE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31ST MARCH 2023 5ustuinablll ThBopenitsgorRourth￿WOrk$ts algo acelebrationofa newbuildin8on Iracktob¢in Ihetop IO% of SU$tsinable builditw in the UK. Thi8 is a huge a¢hievemeni and we hop¢ 10 usc the n¢w building Is x demottgtration of how other cultural organisations can desi￿ and expand their estates to be more 5U5tainabl¢ in Ihc lon8t¢mi. (￿r FO￿ & Bcvtrag¢ ¢¢am OUT Hw5¢ke¢pI￿E tE￿n have both Tcpiac&l ththr cleaning chemtcals with [￿re 5U51ainable alietnative5, 8t￿ we 3TE wioritising reusable ¢up8 foT our bars in Ihe tmmediBle future. As part of refreshing OUT Staff spaces across the estate. we have also beett upcycling and rth)ming offic¢ rUn￿l￿r¢ to redw¢ any goin8 to landfill. Dellwerl 5erW¢e Thn)ughout the year sve have been 5¢0ping our wd)sil¢, klcnlifying areas for impro￿￿Ent in customcr experienE¢ aTKi cu5totner journw wJKnbookin¥wiih ub. This ha8 bten a focus for both gig-goingaudiences yDUDg >plc booking oThto (￿r prO￿aMMe5 atsj proj¢¢ts, made possibl¢ by SUP[￿rt frojn the B1￿MberS Cultural Acceleyator. We havealso undertakeT¢a maprup8rad¢ ofouriillssystems wilha provider. Dines, includinE]Mbileorderin8. This has m¥Je a hU8ediffere￿¢ to our Food & Beverage servi¢¢, in particulardurin￿ the summer's runof Jean Paul Gaullicr's ffosliiort fifeak Shim. ObJettlve 5- most vfiluable Is oir poopie. To deliver our ambltlous tlvt year goals we need to furthtr develw our eDtrepreAeXrI￿ and IDnovatfve culture. ellsurl￿g tbwt it 1$ *fi8ned to our ovenll VAluM nls*tJoll41 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(ul￿ra] origiyj. In 2020. a8 part of our aml-raC￿t 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￿ 0￿r 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 R￿hoUS¢ 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 laur￿hing 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¢quIren￿n1s 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 li￿rninded 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 d￿eloP 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 i￿ome Sources and activity Ikntome Th¢ Roundhouse derives OPthXli]Yd income fiwi Ih&qe main sourtes.. Rental of the main auditorium spac¢ forthird party corpOra￿Chanty evcnts aTrJ mu8ic gig5-wa th¢5¢ rcntals we also earned 8 range of st￿ndary 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 MIx￿re 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 i￿creaS￿ (y)rnm¢rcial xlivily following the lifting of COVID T¢stri¢iions aThJ havin8 a full year of operation$. Income from charimble activities. donations and investmertts fr>r the y¢arlexcluthn8 restsicied capitsl i1￿￿￿) w8s U).8 million12022.. 8.4 mlllionl. The teslTiclcd capital incorne ieceived in the yvat of £1.8 million 12022.. £2.9 Mill￿nI r¢pr¢5¢nts fvNls received towards the RouTdhou8e Works alld SeAtin8 project - of dJ¢s¢ Jmoul￿ £0.4m r¢lat¢s to fut￿ ￿Elv¢d in fulfilling a Section I[￿ ¢ommitment. Expendture On the Income aThJ ExpertditurE Siatementexpendilure is re￿rIn &¢ross thc four arcas12022.. £6.9 Trrillionl. For troth years these nunthrs include art allocation of depretlalion lit]kn1 to Ihe initial refurbishment of the building. Excluding depreciation expet¥JiNre on charitable 8Ctivity wa$ £il.O million12022.. £6.I milliott). Flmantlal resMIts and cl(w51•B fw•d& Overall ibe ¢onwlidatal r¢sult for th¢ Gl]&nty illclud￿ a surplus on unr¢stricted fvnds of £3.9 million12022.. £4.6 million) aftertra￿tersfroM th¢ endowm￿11 fund of£a.i llullion12022.. £0.6 million) aftd trnnsferfrom lh¢ restrickd capitsl fund of £4.2 nllllio&. At 31 March2023, ￿n￿SIn¢t￿l funds ¢arri¢d forward w¢r¢£lS.3lllllliTrn. The charity r￿elV&1 no12021'. tiill restricted futsds in thc yeartoward5 sFcific non-capitsl projects. The restricted capital funds balance al 3151 March 2023 was £19.2 million {2022.. £21.9 million). ThE expBllSe or £0.5 million 12022.. SJ).4 millton) rvpresen15 dweciatioTr on Testricled g55¢15 previously rapitalis¢d. A5 mentiO￿d above the £1.8 milliort of intome was Teceived in th¢ y¢49T toward thB N¢w Cr¢aliv¢ Centr¢ and Suting projcd as well as fuifillillg Section 106 obligations and ￿.2 million was tr?nsf¢rr¢d frotn unT￿trict¢￿ fur￿5. The endowmcnl fund balanceas at 31st March2023 wa8£6.1 million(2022.. £6.3 milliot>). This represents restri¢ inv¢stment5 donaied in 2011. Th¢ dT8wdown rules of thr B]￿Uw1nB￿t allowed for a £O.I ￿￿11[0￿ drawdown in the 10 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 busine￿p￿an threeye9TS ago. Wehave had lo reasses8 every aspect of ourop2ralioThs in Ord￿10 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 re0p￿ing 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 i￿l￿d¢ d¢velopin8 lh¢ us¢ of OUT dats and enhancin8 reporting, brand Yefrtsh, a increa5¢d sales andmarketingeX￿nd1tUre (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>$ition It￿ futsre out]ook is considered w an on-BoinB basis. li THF ROUNDHOUSE TRUST TRUSTEES, REPORT FOR THE YEAR Ef+lDLD 31ST MARCH 2023 Risk Management ThB ti5ks ihe organisaiion faces have been reviewed ot) an vn¥01n￿ b￿1$ 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[l￿gh 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 0￿ratIO￿al 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 a￿1 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 IMpa￿S 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 0￿r ability to continue to fund our charitabl¢ a¢tivity through a coinbinaiion of commercial afid fL￿]d[als1￿B inCDmB. ThE CDvid-19 pandetnic h85 had a negative impact on our ability ￿ earn Ir￿ome via our eommtT¢ial activitie8 however a combination of tight ¢tsst control a￿j 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 fina￿la] rewrts Tegularly mparing pErftsrmanGe against fOr￿ast, aJMJ wh¢theT funk*ra¢iton is rtyuir*J ￿ rgjuce ¢osls and preserve utirestricied funds. 0￿r the lon¥er Itrni woE* is on8oing ￿ enga￿ with trus￿ corwrate dorykTS a]Kl oth¢r W $tsk¢hold¢rs inord¢r Ihgt the Roundknus¢ undcr8tstth 8]kl ¢in re8￿Thd to theirprioritics in thc ty>st-￿AdernjC World. Wc arc also looking to ¢k¥elop soJn¢ k¢y partn¢rships as we b¢li¢Yc this will be key to incteas1ngi￿r impact in the future. .￿l￿e culture and wellbein At th¢ ¢ore of the Roundhouse's delivery are the etTrployee& volunleers and Trllsfr¢8 work a￿{ WPFK)rt ws to achi¢ve OUT goals. It therefore folluw5 that il is cruci3] that we ar¢ abl¢ to ￿1ViL ￿tain and supp)rt suitabl¢ slaff, volunteers aThJ TNsttts and sustsin a Culture that supN>rt5 tjk deliveryof ils str8teEY. The Covid.19 ￿5]$ 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¢vClo￿traln1rtB 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 ell￿ge 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 a￿1 ￿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 pre￿re 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 I￿Ople, ¢xploringdifferent plaifottns for ¢ommuni¢ation and ￿￿m0110￿ and Worki￿¥￿ with our local siakehold¢rs and partners loiBise awaien¢$s of our ofyer to young ￿p[¢. W¢ will build on technology to both Improv¢ ¢ffJCle￿Y and r¢porting datR 85 well 85 ensuTv Il is easier and muc moTe accessible f￿YOU￿g people lo twk sp3ces and prgjecls digitally. In a4dition to that we will coniinue to scope OUT digital Irarning attd WdrfiLiPdtion project to explore the vi3bility ￿ tu whether this could broad¢n our Teach thnd engagement at a national level. uokiii TheRoundhous¢asa building lies atihehvart of both our ￿grammed¢ll¥eryattd¢Ornrn¢rC7al activity. It ￿ essential th￿efore that w¢ ¢Dsur¢ tts ongoing upkeep so Ihal it remains fil for PUTPQS¢ and complies with a wide rangc of operational and regulawry Stat￿$. Risk mitigation in Ihis ar¢a includes r¢8ular I￿lema1 & third party r¢¥1¢￿ of op¢raling proccduTCS lin¢l￿ting he<h and safety). Also, over lh¢ last f¢w y¥Jrs, we have set %id¢ addiiional fw*ts w allow us lo Up￿de 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 rU￿entlY no cle3T infoTTnalion on touring companies frDm the EU in Te121ion to visas as such we a moniknring potertiial impact ortllon UK bas*1 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$c also re￿¥ll1￿5 that building mainiaiJJing strong relationships with key 8iakeJK)Iders, locallyaThJ nalionallywill ¢r¢ai¢opporNnities ro inform and iTrflu¢n¢c as w¢ll as sharecon¢em& 13 THE ROUNDHOUSE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31ST ￿L4RCH 2023 Key Policy Statements Investment Poll¢y The investment policy ￿ sa by iheTrustees and reviewed a)mtsally. InMar¢h 2013.thecharity apwintedJO IlambT05,1gter renanied Wav¢rlon Investtnent Managenient, 10 man8ge th¢ investmrnl of the £5m Paul Harnlyn Foundatioll endowment fund in a mix of inveslmEnls within SPEcified ethical 8uidelin&s. An Investment Commilieewassel upcomprisingTtustees,Paul H3rn1ynofficia15 alld inVeSth￿￿eXpefts to moThtor the fund. An ittvesiment policy has becn sel by the.r￿st￿5 tsrgeting an annu&l total Teturn of CPI plus 4% with an emphasis on ethical ￿ld¢17￿e$. For th¢financial yearetxling31 March 2023 the cpi+4V. benchm￿( equsied to 13.2 *A: agaI￿tWh1¢h Ihe wrtfolio re￿rned 0.5Vo. Thcportfolio ismanaged Mtha long-IEttnview, 5TnEc inceptionthcCPT+40/tr basb¢¢n 70.50Aagainst which the portfolio has re*urng1 lo9.6￿3*. 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$ing The Roundhouge has a profe&8ional furtdraisin8 depatknjeni lal by the Parti•s attd Impa¢t Director. The team IS responsible for fundraising from ithlividual4 events, trust and fou]thtions aTxI busirt88es and works within Ihe guidelines sel out by the FuNiraisin¥ Regulaiorand Cthleof FuAlraisin8 Practice. The Routkfjt￿u$C's fvn¢Jraisin8 IS Up￿rtabyY0Iunter¢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 a￿j an Ethi£s wmmitttt, which was made up ofasubsel of the Board toenable the eX￿Utive leam8t￿ BoardofTtwteesonde¢ision makln8aroundsi￿ifIcant TheRouMiknusedoes note1￿ageanY ¢xt¢rnal pwlnersoT fUndTHisinga￿￿t¢s to ¢wout fiJNJraisingoD its be￿]f. Nor dc* we enBa8e in fundraising activittes that would place ?￿l￿ th¢ FuJ￿rnis1￿g R¢gulator and 8ign¢d up to the Fundraising Preferw￿¢ S¢ryi¢¢. Tr Partnctships and Impact DIr￿tOr and the Aw¢iat¢ Dir¢¢tQT for Ikv¢lopnrnt are both Tn¢mbers ofthp 1Th8titute of Futbjraising. Aecess for all OUT youihprosrarnmes s￿n a rangeof art forn￿ lo excite. Ir￿pIre3￿d captivaleyoung people fromall backgrounds. Wetsffer opportunities in ]nusir. theatre, cucus spoka worf and br0￿C8st 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$ues A$ t￿ll51￿& 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 n*J by tsfferit)8 taster artd regular sessi008 to schools target group8 and community w>ups and ptovidinK inte]k%ive pro8rammeg for young p*ple 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[￿ prOJ￿tt t such good valu¢. Volunt¢er5 The RoUndh￿Se 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 ¢onth￿l 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 Organisatio￿5. ]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 Stake￿10¢r$ aT¢ our young people th81 tske pBrt in our cteative prograttllne. We C[￿￿0Y numerou5 tutOTS on a freel￿e b*i$ to deliver our youth programme who receive regular ttaining and suppr>rt. Our youth Pro￿arnme,$ otst¢omes aTeevaluattrJ through tsur e¥aluatiort committe¢ ort a monthly basi W¢ ￿$1 our Roundhouse Youth Adwsory Board IRYAB) which is made up of up kn 20 young pwple each year. RYAB It￿ ]m￿hlY atmi adviseon every aspect of the ROu￿5￿Use'S work for our creative progTarrllThe with young peopl¢.ourOry8nisatio￿1] values atsd Wrpr0￿$ed C8m]M]$buildinK. Two m¢mbetsof RYAB sitortourfonnal board of Trustees. Reserves Polley As ai 31$1 Mar¢h 2023, the tot31 uJJrestri¢ted reserves were £15.3 milliort (see tK>ie 171. Of this £1 1.6 million represents aftK)unis Inve#￿ irt fixed assew £1.9 milliort has been de8i8nated for spe£ifK purp)se& After taknog Ihesc anK)unis into consideraliot) ljwe rctnairts £1.8 million of free rescrvc8. Th¢ Trustees have deterynined Iimt ihe Roundhouse needs UllTesiri¢*d free reswves to allow thE ¢)rg¥nisatir*n to tllaThBg¢ a rgnge of wtential operalional risks, I￿luding flU¢￿aLIng inwme from commerrial a¢tivitiEs. sigDifiwt chan8es to voluntary and dotLgled income, the costs of emer8eney buildin8 repAjrs. The reserves target is in exce88of the minimumlevel thai wouJdb¢required for anorderly winding w of the charity. TrnsTee8 consider that £1.8 million r￿naIn8 an appropriate tsrget in light of the charity's sizc, operations, thc financial risks 10 which il Is vx]X>s¥J. The Trnstees are wmrtuiitd thai if Re8etves are L¥oded in th¢coming years that these are Tebuiit as a wiority. Ally Unrestricted reserves in excess of the free reseryes target will be dtt8ignaled into the Capiial R¢newal futbj r¢presenting amounts ￿1 asid¢ 10 ensure on¥oin8 renewal and replacement of the building infras￿¢thIre. Over the Coming years theTrust¢es will Iwk 10 gtow this reserve 10 £0.8 million lcurrrntly £0.65 million). 15 THE ROUNDHOUSE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31ST LWCH 2023 Golng Concern The Truslets have a&SesS￿ The RoundhousE'S ability to continue as a going concern. They have considered several fa¢tors when formin¥iheir conclusion asto Wh￿herthe useof the goingconcernbasis is appropriate when W¢P3Ting these fJt)ancial siat¢meni$ 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&nageI￿nl section page I l. Of pktti¢uJarrel¢Yanc¢ to going concern is risk littked to maintaining financial strength aThl sustainability. Alotsgsidc the eX￿utive Ihc Tn￿te¢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$l's financial wrom￿nCe and the general reserv¢s posiiiorL Our planning prDEcssc5, including fjnancial projections, h8ve t&en inio consid¢raiion th¢ curr¢ni econoinic cliJllal¢ at￿ iispoiential impaitunihe ￿nOuS sOu￿es0f illcorn¢ at￿pI￿nn￿l ¢xp¢nditur¢. W¢ hav¢a r¢asollgbl¢¢xpe¢tstion th&t w¢ hav¢ adqualc r¢sour¢es to ¢ofttinue in opeTOtional existence fortheforeserdble fuiure. Webelieve tknt there are nD rn&lerial uncertginlies Ihaicall into doubiTheTrusi'sability io¢oniirtue to operate. A¢cordingly. Iheac¢oun15 hav¢b¢¢n pr¢pgr¢d on the basis IhatThe RoundhouseTrust is a goingconcern. Tw$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 suc￿sS 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 t*￿e£ ekrit#bl¢ goals. Tk plan include£ a rob￿St sel of flna￿l81 8nd oper8ti0nal objectives. This is & key tool wi which we continually monllor our pro8T¢SS and p¢rf0rn￿nCt. AIDnB5idc t￿￿￿, we have a cOfftp￿hCn5lY¥ 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 ROundI￿se 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 reiaiitsn5l￿ll widi s -￿pIlerS.CUsl0￿erS 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 a￿1 or8aNsaiions from both opeTg1ing and funding prrspE¢tiv¢. To ensur¢ that w¢ ar¢ wnsist¢nl with our approach we have a policies 8ndoperaiinKprocedure5 in pl￿e 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 i￿lUsion 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 Im￿rtant 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.TIL￿arc 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 Ib￿￿L[91￿1￿k&LWc￿I).li)embcr$ Of.1￿ compo11y. Ev¢ryon¢ including all TTUSte¢s ￿ Ihrough a rigorous induction process. We rnaintsin 8 of otlw companies. charities and busi￿sseS thalour Board and 5¢nior management leam are involved with,. this ig formally reviewul ott an ant)ual ba$is. Conflicts of interesl are declaTed at the start of all boaTd me￿ing8. EngaEement wlth Employees As a ￿tatiVe0r￿anls8lloll li is our pp)ple who are the en8ine ofwhal we do and what we tan achieve. Over Ihe lasi two ￿ars we rnn cross-or8anisatioTral workshop$ to develop a set of Roundhouse Valu￿. The￿ were launched f0m￿llY in late 2020 ajyj they will be embeddLMI in our tsainirt& pcrforniarKe managem¢n( recruitwt at iJMluBlion pTogratntT￿S goi￿8 foTw3￿. Our priffl3ry cornmunicalion chanftel on matleTS of concern to them as employ¢¢s is Ihrough th¢ir IJn¢ management Chain within Ibeir dIT￿lOrat¢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 a￿1 safelyarmioperational guidance. Weknstan inlemal intranet gile Rou*dupwhere w¢ shar¢ FK)li¢i¢s aDd pr(wlur¢s as well as stsff r￿Q￿r¢¢$ 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 Orga￿lS￿ll0n 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 Operatio￿al 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 disc￿8 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 T￿ruit 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. FUrt￿rdetaIlS 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, $txcifi¢ally settirtg targetsaround rx¢ quity and disability. OprK)rtsJDitiesgr¢ avgilAbleto all wploy¢¢s for trainingand¢ar¢¢rdev¢lopment. All of our ￿plea￿E treated fairfy, with regpe¢l and digDily. Wcdo not iolerdl¢ di￿riMinall0n, vithimisalion orharassmenl of any kiJMI. Bu8lne88 relatlonghfip8 The Tn￿tteS r￿QgnISe the inwrta￿¢ of both internal and ¢xt¢rng1 stak¢knld¢Th. Th¢ Tnths aTE comrritttyl to forniingstrong ￿LatiOnShIpS with lh¢ youngp¢ople W¢SUPFOrt.Th¢y ar¢ mindful that successdepondson our ability to engageeffttlively. work108ether, Bnd makethe5eslakeholdeTS' views centrdl lo the devclopmcnl ofour 5ery¢¢es. Young peopl¢ ar¢ T¢pf¢8¢llt¢d on thE B09rd of Tn]st¢¢s with th¢ RouDdhous¢ apwinting at least two Tru8iees wl aT¢ und¢r25. TJysetv¢ for ap¢riod ofon¢ yvdr atsj act asa key voice for youngp¢opl¢ atboardlcvel on all mattcts thes¢ individuals gre participanis of Round1￿use Youth Pro8ramm¢s and rn¢mbErs of the iioundhou8e Yotsih Adwsory Board. The Tn]51ees rc8ularly engage with our youth progrdttllnc with one of our TtU5tees bcing a ￿tor ot) a number of projx15 foryoung p¢opl¢. ID 8ddilJon on¢ of ourTTusIE5 has specific r¢swnsibility for safeBuatdirt& and regularly all¢nds T¢Vi¢W m¢etings lo dixuss issues arKI ¢0￿cernS r¢latingto safcguardingchildren. young people 8nd adulis at tisk. One of our T￿sleE$ 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, Commu￿tations. fundraising aThJ ￿lleY updates. This giv¢8 them in undersi8TrJing of the impact our aciivilies have ajvj the views of our$iakeholdcrs. TheTruslees also review, 17 THE ROUIYDHOUSE TRUST TRUSTEES, REPORT FOR THE YKAR EIYDED 31ST MARCH 2023 atttKirbi-monihly ￿8rd meetings, fJn&ncialgnd operational pcrfomttnGe. Theyare rcsrrf)nsible fOr&¥ablisknnga￿1 nuintainift8 an effeciive system of inletnal conlTols to ptovide maximutn clTeclivcness in the det¢¢tion, pr¢venlion and tll8n&g¢m￿I of risks. They are alsorttsp)nsible for reviewing le8aJ and regulatory complianc4 Streamlined energy and carbon reporting (SECR) Sinc¢¢ompl¢tion oflh¢ESOS rerK)rtln82rn1 inline with ftewTewTiingrouiremenis implemeniedbyihe D¢parltnent for Busin￿, Enewy and lTrJustrial Strategy IBEISI the following fvrtherrefitLed environmefttal impact and ¢n¢rgy COn5umplion fi8ur¢s aTes¢t out for the RI￿ndhoUSe. The Jnethodolo8y us¢d in calculating Ihisdis¢losure is based on the Oreenhouse aas Protocol Corporation Standar(I IGHG Protocol). El¢ctri¢iryand gas data for this colle¢ied from monthly invoice infomiation provided by ourulility suppliers Energy &JtJsumptiO April 2022- Mxrth 2023 Ikwb) April 2021- Martb 2022 (kwh) Energy Vs¢ Gas 1,059.196 I,1￿07$ Assouèted Greenhouse emi551ons IT￿Tres 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$51ons (Tonnes C02 equfvalentl 356 287 Inter15ity ratio EMI5￿￿n5 per Person Employed** 1.24 1.32 Total 1780.262 2J79.101 AssocSated Greenhousegas emlssSons tronne5 C02 equ￿alentI 571 529 Intensity ratKJ Emi55ion5 per Person Employed*• 2A4 *GrcBtthou5B ga5 ettli55ions are based on Ikwh electricity u5agc ptoducin¥ 0.2071kg of C02 &Dd Ikwh gas odU¢ll￿ O.2D27k￿ of C02 lfrotn DEpart￿ikt for ED¢rKy Stwrity O]kl N¢tZ•o 2023) **Average employee numbers asper Note 10 Th¢ Roundhous¢ ha5 worked wslh Julie's Bicycles in updalin% tk sustainability p)lscy and action p￿n aiorbg with aSS¢SSrnEllt of ovr thll r￿lpri￿1 {i￿lUding scope 3). Julie's Bicycle are also exploring in tandem wilh the Roundhouse ort how we continue lo d¢v¢lop our clinTrte justice Work esp￿la]lY with young p¢ople along with engagetnent with artists perforniers and wnn¢cling lo the Green Touring Work that Julic's Bicycl¢ is h¢avily involv¢d in. The Roundknusc has also committed to the four following sustainable developtncnt 8oals' SDG 4.. Qua]ity EducaiiL)n- The RoutKlhouse seeks to educate lis siaff. perfOrn￿￿ audiences and YOU￿ people OJJ climat¢ cknnge and susi&inable perforn)atte. 18 THE ROUNDHOUSE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31s'r MARCH 2023 SDG I l.. Sustainable Ciiies and Communities The Roundknuse 1$ involved in its community, worknng in pa￿ershIp to create 2 h￿th1¢rO￿j gre¢n¢r CanvJ¢n. SDG 12.. Responsible Consumption and Pr(xJu¢lion - A$ 9 s￿rfOrmance 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 ri*cwablc 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 i￿P]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 prO￿rIY 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 re￿￿ve all single use plasiics 81N>rtly. A complete sile wide teEycliIiB and waste reduction plan is in pro￿5S, 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 COM￿￿1¢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 curr￿1 systems with mort effi¢irnt and susthinable plant. Electric car ch8r8in8 point has b¢eTh I￿talled a￿1 we arc Iwking al dectri¢bik¢¢hBrBing WiDIs Structure, Governydnce and Management Th¢ governing document of the chariry comprises its Memorandum and Articles of A￿Ciation. The wmpany is lin)itedbyguarante¢ nol having a shar¢capiial, andpossesse8a It￿cel$SucdbY the Deparnn¢ntofTradcp¢rnutting th¢ omission of Ik WOTd-linyl¢d" from sis Thall￿. General Gover4N*ce Trustttr￿rtsIAl1eftI. aAdtr#irtlng Strong 8ov¢rnanc¢ and management art ciitical io our 5UCCe55 ar￿ ￿￿tatIOn. We have a Board of Tr￿8t¢¢¥ that rake8overall respojjsibility f0TtheCharity#￿￿0UrWurk. It Is1esFx￿slb]e forensutirt¥ w¢oreeffe¢tivelyandproperiy runand Ihatwemeeiour8oals as a Charity. As partof our£onl]]￿U8 leamirtgpr0ce￿. everytwoye8rs we internally review ￿3rd perforniance a89inst th¢ Criteria s¢t out in the cod¢. Tr latest rwew was wmpleled in May 2Q19 t wl¢om¢ of whi¢h was v¢ry wsitiv¢. We have just completed a review of our memb¢rship of th¢ Board whith has s¢¢n a number of changes (please sct page 211. We are planning thc next Board pcrfornMn¢¢ r¢w¢w to take place through the lai¢r part of 2023 once thi3 new group hassettled. A full list of olh¢r board m¢mb¢rs Cats b¢ found on Pa8¢ 20. Thts includes two youn8 TTuslc¢y who provid¢ an impTrrtanl voice for our k¢y stgkeholder group on all matters. Th2BoBrd apwintsTrustecs lo sery¢onth¢NominalionCommill¢e. wknSerol¢iS￿ ke¢p utxkrr¢viewlh¢slruclw SiZ¢ar￿ wmw)sitionof ih¢ Bo8rd. As vacanciesarisey poier)tial candidaitt ar¢appro*¢hedon all individual, targ¢t¢d ba5i& Ensuring Board diversity is a key ¢on$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 of11￿ce years and typically serve for a further three years beyoNI this. N¢wTrus*¢s are indu¢lol tniothewoTking8of The R0undhous¢Tn￿Wa various activiii¢s incl￿J1￿g bTi¢fings froni th¢ Chairnian, Chi¢f Execuiiv¢ L>ther staff as appTopriait, a TTusie¢ Induction Pack and tour of t ROu￿thouse siteajxi offic¢s. On80ing iTaining is provid¢d to T￿￿ttS 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 EXt￿liVe Offi¢Et. Caspar Normin TepTt5ertlS tl* Nornthft Trusi WIK) were founders of the Ro￿￿hoUse 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 ¢K*nd¢d th¢ir tern15 to ¢nwT¢ stsbility during the 0￿￿n8 of R￿Adho￿at 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 t￿bliSh￿ 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¢C0Ttll￿￿ded bythe¢trJe. ForThe kout￿hoUse 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 st￿n8¢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. t￿rIll8 2022123. a numbcrof TDAstec ]X)5ilion5came lo Ihe e￿1 of their term. As partof the rttnjilmentof new Truslees. a delail¢d exucise was carritd out to reyicw the Skills rwuiTeu￿nl veisus our 5 year businc55 plan and this infOrn￿d the rtruitment criteTi&. On page 21 you will s¢e a t￿te 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 wf0m￿n¢¢agalM3t0urr1ye- yVdT amkn"tion. Exien)al r¢wcw evcry ihrtc ytars 88 r¢commtnded in the c￿e will be considEred in 2024 onc¢ the¢mTht¢rf¢oknrt ofTrustees have had tirne to embc Diversity consideralioji 5jts al the hart of 811 ROund￿U$¢ activity 9￿j 18 alway5 ￿knEdd¢d and sup￿rt￿l by our Board of TTh￿teeS. We have ¢oJJsiderably div¢Tsified our Board over the last yeat and hay¢ now met ￿ gendcr aTity 3nd global may)rity iargeis siaied irtour busirtets platb. OrwlsNdott&lslruclure The Board Df TnLStecs meels forn]ally ev￿ two JTh)nths 10 review all Ihe activities of the charity and to provide straiewc diT¢Ction and guid3]K¢ to th¢ Ex¢cutiv¢ team. As a Tn￿te¢, th¢ Chief Exttutivc attends all Board me¢lir along with th2 other mcmb¢rs Lif Ihc Exxutive team. InadditiOIh to themgin Board ofTTusl¢es, there aTeBoard committees which workwiih the Executive leamto review and provide expertise and guidance on 8pwifJ¢ arcas of the Charity's a¢tivilitt. These wmprise the Busiiiess, Audit aTh4 Risk Committ¢e, lh¢ P¢opl¢ Commilltt (including duii¢s p￿VioUslY covered by the Nominations Commiiieel. the Snvesttnent Cornmilte¢, the Ethics Committee and the Can4)us Committee. The Chgirmgn of th¢ Bogrd and the Chief Executive metl andlor speak regularly atsd the cha￿￿n0r the Busine8& Amdit and Risk Commiiie£ has rcgularcommunitstion with thp FIna[￿e & B￿l￿ESs Perfonnance Dircctor. 20 ROUNDIIOUSE TRUST TRUSTELS, RkPORT FOR THE YEAR ENDFD 31ST MARCH 2023 The Board atd Executive team work logetkr to establish and devclop the chdrity's overarchin8 objective5 and 51ratYgii di[￿li0n. Res￿￿S]bllity for the day to day operations of The RIKTndhou5e TTUSI has bE¥n delegated by Ihe Board To the Chief Executive. who. with thc EKe¢utivt ttdrn. wo￿9 within the thThlegic framework, operaiional paramders and iontrol environmeni ￿tabliSh￿ by the Boa￿. Th¢ r)iTXIOTS' Group wmprises rhe organisation's Chi¢f Ex¢cwiv¢ & Artistsc Dir¢cior, Vcnue Director, Partn¢rship$ and Impgct Dir¢cwr. FI￿nE & 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 I￿nthlY 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 T￿1 in Ihese Stslemcnts. Any ￿n￿e¢lion between # Trustee or senior manager of the charity with a ¢ontrablL)r, consultanl production Conwany. conlract¢d arLisL JKrffrrn￿r 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 RuuJYJhou￿T￿la[￿TheNOrn)9￿TruSt. 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 PoliCyforE￿Ctstivt 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¢ d1￿ctOrS awj th¢ H¢ad of HR 4r¢ responsibl¢ forselling pay acros5 the org7n￿￿tion. 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 (aP￿7￿1Ed 8th Feb 23) P T8mbling S Wood Iresiw•J 291h March 20231 L Wyxlham lapwitt*d 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 (resi￿ed 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 m*uxgemellt persOtt￿l forTke R￿DdhOuSe 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 Thr￿tOr Charlie Wijcratna- Commercial Dir¢¢lor Rowan Kitching- Venue Director ExEcutivE leum for koulldknuse Trddi Limited al the dale Ilie rtwasa roved Mar￿8 Davty- Di￿￿tOr 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' Re￿rI 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 fina￿￿31 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 Trt￿ee5 are reswTbsibl¢ for ke¢pin8 proper accounting recotds that disclos¢ With T¢3sonable a￿VraCY 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 i￿luded on th2 ch3riwbl¢ wmpany's website. Le8isJalion in the Unit¢d Kingdom governing the Preparation and dissemirtationgf finmcial ststem¢nls may differ from It￿SlatiOn in otherJuri￿1Ct1Ons. 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 8￿J]¢or is awa￿ of that Intorn￿￿on. 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 a￿dited th¢ financial staier*nis 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 r￿lI1¢wOrk that has b¢¢ll appli¢d IheiT PT¢pardtion is applicable law 8]Ml Ullitcd t&ngdom Accounling sta￿￿Tds, 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 Ma￿h 2023 of thc group's incon￿n8 resources and application of resource& including irs income and expendi￿re 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 aCCDrda￿ce 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¢Obtain￿3 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 fir￿ncIal statctncnts is appropriate. Based r*n 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 n￿nthS 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¢c*ions 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 S*lem¢nts and our auditor's report th￿e0n. 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 illcon*stettt with the financial Statements OT our kTh)wled8e obtained in the a￿di1 orotlkrwise to be matertally missial&l. If w¢ idcniify such maiuial trKonsist¢n¢i¢s or appar￿1 material missiatemeM& we ar¢ T¢quir¢d lo detettru wh￿ber 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 a￿lt the infoTmaiion giyen in the Iru$iees' Tewrt. which i￿lUdeS the dir￿tOrS. rep)rt and the stratt￿¢ re[￿rt prepared for the PUT￿Se5 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 ¥ccounti￿g T¢cords', OT the pgrent ¢otnPgny financial ststetn¢nls Hre not in agreeTr￿t 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 infoni￿lIOn 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 di￿clots of the ¢haritable company for the pU￿OseS of umwdrty lawl are r¢8wnsible for Ih¢ pr¢rAralion of the financial I￿￿trtts al￿ for bcing $aiisf¢ed that thcy a iyue and fair vjcw. aTh1 for such inlwnal control as thEt￿￿te¢S detemiine is necessary lo enable the I￿pa￿l0￿ of firtancial staiemYrtt& that are frtt from material misstat¢rn¢n4 whether thLe 10 fraud orerrtrr. ID preparing the finaDGial stsiem¢n15, tk tru$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 tn￿tte$ Cilher iniend 10 liquidat¢ thc charitsblc company or to cease oper#tion8, orh8ve no realisti¢ liM￿tIVe bui to (k) so. A¥dltor'$ respon5ibilltlps for the of th¢ finAll¢iAI 51atemeDts robjcctives are to obtain Icagonablt a￿u[an¢t about whtiher the fina￿121 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&ysdeI￿t 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 Irregul*rlde¥ In¢lvdlng fraud I￿¢Pularities. T￿lUding fraud, aT¢ InSts￿¢S of ￿n￿OmPli￿n(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 this￿￿teXt 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 fina￿la1 statement items. In additio￿ we wn5id¢r&4 prowsions of DthEr laws and reBulalions that do t￿1 have a direct effttt on the financial statements but COTnpliance wth which rnight be necessary to thc charitablt company'8 a￿1 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 oper*ions 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￿ a￿lIt PToc¢dures lo idErtiify non-compliance with these laws and r¢sulations lo ewuiryof thc ITUSts￿s 8]Ml oihci managtmeTht atMI In$￿ett0￿ of regulatory and legal coxrwndcn¢¢, if any. 26 THE ROUNDHOUSE TRUST C.ON801,IDATF.T) STA TF,MF,NT OF FINANCIAI. AC'fivi'i'iFS FOR THE YEAR ENDkD 31ST MARCH 2023 W¢ ide)Jlifi¢d Ihe ￿eates1 risk of maierial impaci on the fiMan¢ial siaiem¢nts from irr¢8ul8rities. including rtaud. 101 within the liming and rttognition of grnni income and donaiions. completeness oftrading income 2nd the ovetrideof Irols by maiiagemenl. Our audil prLxedure5 to respond lo these risks included enquiries of TnanaBtm¢ni and th¢ Business, Audit & Risk c(￿n[nittEe about their own identifiTrlion and assessment of the risks of Ttregulariiies. sample tttsiing oli Incon￿ the wsting of JournDls, reviewing DccounliTrg esliniatcs foi biases. revitwing regulaiory coff#spomdcnce wtih the Ch#riry Commis8i0tt, 3tkl readin¥ minuies olm¢cliTJgs uf those charsed with governance. Owiiig to th¢ illh¢r¢nt limitations of an audiL ther¢ isan unawoidable risk ih* we Tnay wl havedetEcled sotne tnakrial mis51atem¢nls in Ihe finan¢ial stst¢mcThis. even lhO￿8h we havc properly planned and p¢rfonKd our audit in accordance with audiiing standards. For ¢xampl4 Ihe furth¢r remov￿ non-cotyTrplianr¢ with laws and regulaljons IiTTegulaiitiesl is from th¢ events aTMI Irallsaeiions reflected in the financial si&temenls, Ibe le￿$ 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 a￿1 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 tI￿l 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 ¢x*nt pe￿Dits¢d by law, w¢do not accept or a5sum¢ r¢s￿nsibIlity 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[g￿rr￿MME 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 ￿di￿jga¢tI￿tityS 5,459 5.459 3.041 I0￿5*mOnt￿t￿Me 236 236 I￿orne 12,4 14J19 I&KI Ewdlt¥r¢ Coit fund5 3.965 35 2.983 a¢tivitivA RoUndhoL￿c c.￿4[1¥¢ Pwgraminc ftt y￿rt9 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 S*b 473 9.440 6,YJl TtsiAl¢xpelldilur 12,933 479 35 13,446 9.884 Oper*iiN%5ury4u51{defftffity 1453) 60 135 IW72 $77 143) 1431 487 Netthcomtl(txpertdIts￿) (4S31 i¥60 1029 5JJfA Trdnlferbettvtètt Cll#ds 4,303 14L1651 1138) 14605 (216) JJ)19 ReConc￿l&dO[Lor(*r•ll T￿al Funds bn)u8hi forward 11,454 21,853 6.292 39.fAI9 34.545 19,248 6￿76 40,6J8 39,fAPJ All trnrtS￿ti(JnS arc Ocrived from coniinuirtgactivitic& All rwTr8Dis¢0 Bai¢LS and1055e5 aT¢ includ￿1 in ik ￿at￿ne￿i of fittar*i*l acliviiie on pJTr$ 28 to47 fonn ￿rt￿rthC￿r 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 ￿￿￿rde￿OrS Cfi5h at b8tsk aiid in 85 2.655 7.655 68 15 4.387 9,344 4691 Totsi turretttAisets 10.393 Cr¢dltor&.. f*W 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 F￿dOW￿¢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 4￿038 39 39￿ Wilh in¢omeof£9,059,416, Rnd cxpendiiutcof£9,440,327, IhcrKt incomcforthe year fnTthE EI￿L￿ble cr*npaoy ¢￿al￿d £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 fin0￿10[311tell￿ts. ru)anLial L4wereappmYedand authoriscd for isglleby Ihe BogrdofTTusw&DJ ￿¢T￿ sigth￿ on ihtirbehalfby.. Mareug [￿vey rrrn5l￿l 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￿￿¢ Pu￿has¢ ofian8ible & inian£ibl¢ fixedl￿19 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 flm*th¢lnE •¢tivilits ChanKe th cash gDd t￿h eq•1v￿*￿ts th th¢ reportlTr8 period 1&9D31 reportlAgyo* lJ.558 7.178 Tot*1 c*sk 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 F*ckdepyeciailth charge GainlliL&*l￿ ]nveslTiienL ID¢umE sbDWn ID i￿￿11n￿ ￿tivitieS CainlllA)$51vn DisyNI ofFixcd A5iCt5 llo¢r¢8seyDwr¢as¢inslwk I]nrre￿￿ecrvas¢7ndebIora (D￿re￿)I ]ncre&se in ¢rediioM 887 43 1236) 36 883 1487} 1201 J,l74 Net£*8h provlded by0￿rA￿le￿Il¥i¢￿I lJ891 &603 B. Attwlyjts ush eqilvllleNts C￿￿ in hand Nnlic¢d¢p)¥iLs Ik55 than 3 months} 6,639 12.545 Totslcash and cuh equivllents 7ffi55 13.558 30 TFIE ROUNDHOUSE TRUST NQTTr 8 TO THF. FINANC.IAI, STA TTr.NTh.NTS FOR THE YEAR ENDED 31ST TrL4RCH 2023 ACC(JIINTINf. PThLICIES B¥Ji5 pr¢ppr•Oy The financial siaicn*nts have beth prtyyred in ￿￿ord8[￿C wilh Attouniing a*d RepnninÉ by Ch&tiiies.' stale￿lli of Recominuda PraL'ticc ÈppI￿ablC to chan11￿% prcr￿r1ng ihcii aLrounts ITh xcor&nce with Tr"inancial KwNiThg stay￿8rd$ b￿liCable in t￿ IIK and Rcpublic of Ircland IfR8IQ2) rlTcclivc l J&nuBry 2UIY)- {C'.hariiy SnKP IFRS102}), Ihc finanEial Re[￿ing stu￿￿rd 4pplic&ble in thcUKand Kwublic of lYtIat￿ IFRS 102)And th¢CompJnie5 Aci 2W6. rhcchrily mrcl5thedcfin1li￿ Df&publ￿1mclilCntilY unthr FRS ID2. A55c154tk4 li&iliticsarCinltiallyN*ogttiscd&thx%ithical c(￿* of tslln5acliDn v&luc unkn oihrtWi5¢slatcd in Ihr rcl¢vanl accnunling ￿lICY PrEpNrxtloTr oftbe b￿1 H&vin8&SFLwd thrch&TIty's IinAn¢ialposiiirm. 11splarr6 lorlh¢ lorrsffabl¢ fviU￿. Ih¢risk¥ towhich ilL%Cx￿￿cd thrdctail hrcco5ts fi)r p pcrird ol'ot Irasi 12 monihs fro1￿ Ib¢ da￿or31¥￿ill& th¢ Trustw5 aT¢ 5Olis1icd IhAt it ￿p￿r￿nal¢ 10 prepare the fin3nc￿l #lliaK¢nison a goingconcem ￿$1% Le￿￿ Ststu& ofthe Tr￿t Ttusl (Ch&nly Numbty 1071487. c￿￿p￿TrY Nllmtv035721841 1$ lutiitalby wjarantee te¥i4tet¢d i En¥l&Thland Waleu¥nd no sharec&iMtal. lrt the eveniof theeh8rtty￿thSwth￿dUp, Ibe liability irtrewt ofihe8uaraTrteÈiy lim?ial tTh£lO perrnen)berDf Ihe ehArity. TheT[￿l'S ￿dre&% isThe Roiitthous4 ChAlk F*Tm Rthd. I￿n￿On. NWI 8F 15ayL% •fe•Tr5011d8tion "Ibe group fill8ncial $18tements t£￿￿1ld3tc Ihc finBncial stalancn15 Df chaTi1&b￿ artd iiy aciive juhid￿ryI IIoundhouSC I'rndin$ l.imiie4 M a linc by litK Ajpxmiil￿ by SC¢ii￿ 408 0l.ihc Crxknpan￿lACt 2U06 thcinEomrandrxpcttditurcol'theeh&tiiy isnoi pres¢ntCd8S￿ftorthC&C accounts. lfr¢profJi&nd IossA¢COuni forthc iyadingyubsidiary 1gpfcscrt￿AscpsrnteIY in Notc4. The PArtht eknrity bag takth adva￿￿Et of d*loslltr ¢X¢TnPtion und¢r FR5 102 to$¢paratety discknsecAtewit5 of fijlatiti ID$ttum¢nts knd iiein5 Qf ¢xpEnw or re14t1￿g to in8tyuTll¢ni$83 hpvebw pr￿￿1 on 4 gtollp ba515 ID then0￿810 rhtaL￿ll￿tS atMI also p[t￿rIng a parttti ertlityortly cagh Ilow Sta￿￿ettI. Th¢ wup financial stri￿eats FAve è18D on * wNrt8 eLyL￿tt tr&L8. Tht w>knig concern stdiemeTri in ihe Tm91 re￿￿ prO￿ldeS moredaail onibis area. CritKxl key 5Durctofe5thatlon In th¢&pplI¢￿1QnOfth¢￿8rity's￿￿O￿nILD￿rM?1iCl¢￿'1rU3ie¢s￿re rLNuired io mak¢ judgcrncnty.e51irn9t¢54ndwvump1￿D8qEXwl tht catryTrn# v&Trut$ ¥[ asgds snd li&bilitir¥ not r¢&dily apphrent from othv ¥QUT¢LX. CSiimat¢s attd a&WTnptioTrsare bjwl on h1ston￿l ¢Kperiew¢4ndoiher f8¢iorsthaiare¢oDsideT•Jlo ber¢l¢v8ni. A¢D)&l TL7ulL%￿aydlfr¢r fro tE￿¢$bI￿at¢s. 'rhc tstiihttl¢$ 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$￿ ifth¢ affrrts only Ib• wjtwj 01 in th¢ p¢ii(Kl of th¢ TCviSiOtt Iftherevi810rt4tt#ts th¢¢uff<*t ind Jrt the Vithv oftheTrnytee8 theohlysikttifimL¥YiI￿Èl7￿nsIT¢th￿ linktdto ￿t ￿l0¢#hon Or$￿p￿)n ¢(K$ts￿{ya8￿rCbAftttb Ad tton¥erablE VAT is charged to ihe &Awneni of Financral Aaiviii¢s w an accruals basix Costg DC 8en¢r*inR fvnds thosecosts iNurred 10 rAi5e voluni8ry itKom4 the CQSL%0fi￿di￿g¥cIiVilr￿ forthe putrKttofrnising funds 8nd inve&meni mdnawneni fttB. C05ts ofaEtivilic5 in funknaNc¢ofchhrilghlcobirctivrs rcprc￿nl the dirtxi C05L3 ofeach È¢iiYiiy tO8eihcr with ￿ &llot&hnn Df rt Thr allo￿1?￿￿ of cn8ts 1$ lll2dr on thc knyis of a woportion of ¢XKthdlits￿ th8t Jctiwty oy Count whithcvtris the m￿￿ tEl￿nIC0stdttvCr. Govcrna￿c￿8ts incurrrd in Ihcclx￿ItllI￿￿I tsfih¢eh4rity. ()n owA5iTrn. thid¢s makc r￿ll￿￿￿rY tbr tmnin&tion pwr￿ts for DpefAtiort&l tcasons. Thesc i thc K)FA on ao accwal$basi5. T•TrBlbk flxed a55ets Tan8iblofix¢d assctsaresthtedaicosi. t)eweciaiionha5beenchargedonthercnov4tionco5ts0n Ihcba5i3nfthetunainingltfeliinc ofr4ch indiv￿￿al a55ei and char8ed io the reslricied capithl fv￿. Dcprffiaiion is Provithd Ri the h111￿ing anttual rates irt Order toWn￿off e4ch 958ei overits ttiiilla￿l u8efvl life.. t£a5ehotd prOp￿y8￿1￿Yj1ldU1$ fabric R￿¢VIll￿n costs over the rRriL￿ of the leaselcwrenlly 78 years [ly￿aInIng) 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 le￿hOld wwcny is Qvalu￿￿ for impirnlrnl Dn & rrButsr Ixsis. WI￿[￿ thc C2Trying v&lur of thc prtspety ig ¢￿SIde￿d 10 bc imp&ir*J Ibe diffcrcTrc¢ telwLrn the txtstingcatwngvaluca￿ thr wiittcn dtwn valuci5 iaktsj tD Irkrveg. Ints￿lib￿ fJx¢d I￿￿ts 'lthe pureh8ycofrtew COmwter￿ftw&¢t h&% bcth capithlisthl wiihin assei8&5 they (elate 10 Ipecilic cwditurcwhic drivc5ant1cip￿cd futu[rb￿cfi￿.1)r￿cbr0ll8ht inlousr i￿tan￿bIr￿S¢ts0reaM0rtlstd0nAthi￿t-llueb￿3oWxlhennIiC1p￿￿d uyefvl lif¢ofthcyottwar< tyPi¢8lly 3-5 prj. Fixed asyei inve911￿c￿t5 ale incluLknI OJJ ihe bAlanee sheet at markei vfiiue. R¢DI1￿1 And arKi k)sses at th¢ y¢Ar- end fir¢¢￿di￿Cd Brtddebittsl to thestatrmeni of littancial aciivi¢ie5 in Ihe)wr in whichtky arix. PeN51Dn coTrtrlbutlDllS lThc¢horiiy opxa*s iWO8tsk¢holderpension Sch￿c&whiCh4r£ &vaiLgbk toall employ￿% Pcn3ion¢wtrI￿bc￿￿¢htyryJto thE Sthnentof Fina￿18] Activitie345 th¢y b￿0￿¢th fi￿￿$T￿l￿n¢tMd1Thg0rothtr in¢t￿r#¢Iv*Iwl1hN￿￿1rf¢tI<1Jth w. D¢*8￿￿1 fvlldsatt2mouNsthsiwted by IIK Tru8tx4 from ￿rQ￿r￿l*j reB¢rves foi the srKrific purp(wB oullinwj in the notes. R¢sth¢i¢d fi￿ts Ate amounL8 rtt¢iv¢d towords apartTcNlarprogrammeorprojKt. capit￿ fund3ar¢wnountsrK¢ivAI wwaTds th¢pw¢h)gcolcapithl asse48. Enthwrntnt fiuhJ¥aT¢wNowts r￿cl￿j kYillvg8ttnenrto pT(thT¢gub&r inr(w¢tD fffjd ￿tiViti¢$. 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 8Ub5WU￿IlY me&SUr￿ ai 4inortiwJcost Using th¢th¢l￿ iiiturst llthod. Fifilttial Ds5d& h¢ld 81 amortis&l¢os1 coJbprL8¢Ca5hat bank &nd inh&nO, otherde￿Or9d￿d accruth in¢ome. FiThBn¢i&l I￿￿1111￿5 h¢ldalpTnoni8ed cost comprisc trade and o¢kf crcditors ornd 8ccN&ls. Inv¢sim(￿ts hekl ￿ part of ￿ inv¢511n¢ni portfolio. a¢l￿dI1 ra￿Value at the b&knetsbttt d&t¢, Wi￿ and losxs t*th¥wisedwithits aodexpeDth￿re. Lw¢i Annv41 Ten￿1 for opM8ting lew i& ¢b3rg¢d lo th¢ 51ateme￿I 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 r￿0￿15￿ in th¢ St&¢￿￿t0rFl￿aoc￿1 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[L￿n dt)naliuDS for IhttyEar was £1,293,858. Ofthis £232,955 12O22..£321.51￿j ftt¥ifiLttsl io expenditure relal tothenew Cainpu5 Proj￿1. The Tru51 15 gr*ful 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 ¢alLula*d valueufddvice froin RB H￿d7th 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 0￿j rc101￿ iwrnc RO￿nd￿0￿￿ON￿1￿15s1Q￿cd work Bimrtial futLdraiginggalA Art5 Council Eng￿lld 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 ￿li￿r]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 Bovernn￿nI fU￿¢dor￿n￿s8lI0n,aso￿cO[ih¢7rNwl1Ona1pOff(O1tTr LK8ani94tioD.2022-23 wasihefourlhye8rofanexi￿￿edthrce-ye￿rgr￿nl agre¢ment,whichsaw ih¢RounOhous4rrfeive£992,648 h year. gtgnts at¢ unresnithed ￿￿01￿810 the￿%￿￿1¥￿10n. In Ihe2022-23 finAnci41 ye8rArtCouncil En8JandALsoaw&rthd IheRtwjntho￿add1il0ThaI 109Jp￿Ath¢0rsanI￿lO￿W1th Ihe CAiiipusproiect. The5¢al￿Ou￿L% Ire shown und& Arfscouncil Engla￿JOIh￿. 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 I￿lucIl0￿9 Limit￿. Icomwy numtw056726881. Roundhouse Prod￿110￿5 Lid LS curr¢ntly noi tTading. Th¢ reg￿￿￿1 offitr 0[￿lh Lwies is lhesume￿ thepatentchariiy b&d¢wil￿ ID not¢ l 8ndIy)th¢ryDpaDi￿Are ￿￿[￿)[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¢r￿laIQl￿i￿￿￿￿1SPW0 Sumtnu[is￿ fit￿￿111 InfOrn￿10n Prolit Ind tws tDcom¢froth Priv&LC Hiye Income Bar& Cateriniof*alith% 0￿1¢¢ 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&t￿ll fjift Aid forthe￿¢￿t BalAn¢e Currc*i Jkssets CTcdit￿￿". knountsfalling wilhinon¢year 4.17U 14.1701 4,757 14.7571 Nd Euttcnt Call¢0 up 8h&r¢withl Profit and Ios* acc￿nt INVEsfMFM INCOME ThETtUs1'5 lo￿2 in¥c$m￿l incornerf£235,904 (2022.. £108.058) isderived frtmn re￿ric*d£￿do￿Ment lundinveMmeni tn¢om¢ ofEI17.931 (2022.. £I07,923)￿d income from inier¢51bearingdep0511 aCeWnLS of£117.97312022.. £1351. ANALYSIS OF CM)sfoFRAI8ING FUNDS 2112J COMn￿￿nI ts>dill8 ¢ostof$th Share of5uprth eiw govemknct& dePrec￿t￿ 1.947 1.081 %47 J,123 Js I,Y29 36 [h￿cl Ctb5t¥offurydrai$in8alldwbliciiy ShaTeofsupp)rt gtrvernantt artd dewciaii(mcoits 725 123 2.983 34 THF. ROUNDHOUSE TRIIST NnTF.S I'O THF, FINANCIA T. STA TFMF.NTS FOR TEIE YEAR ENDED JIST hL4RCH 2023 APIALYSIS OF KXPRNnlTVRF. ON CHARtTABI,E AcfIviTIRS Ro*AdhDUSÈ M•$ Illre T•tsi 2023 CÈuiJYt Pwrlmme & Ifflprovl￿8 the bulWI 2022 £wo £ow £wo Arti5tic&ctrahvc fc£ Costume & sd build eosL8 LAr￿1 liv¢ 51reRming co Tutor& ftts threL'tin#n4wrJeni, prthlucerandLOtMdinalor fetts tArec¢ ￿￿r1¢Y costs Fqui￿￿Cnl 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¢NO￿8- Supprt d D¢EYw>gtion cost Rllocqiion iablel hare of &prccibtM)n ISc¢ 8- &Jpwrt tkprteiation C￿￿1 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 ROU￿b￿S¢'3 Yjpr￿rt COSLI by arca."I'hwe costs are appon1o0￿ using th¢ b￿1& 5ummari5cd bebw r035 IhcchariiablcaffliviiiLY undert&ken. bjndraj￿n8ac1IvLtICS8ndIh¢¢th￿MerCl4Ioper￿lIo￿S.Thc&0vCrnattCcC0st3 aroasutré ofe4ch area &nd haw¢ betn ideniilicd by considmiiom ofihe Costs in c&ch ctstcgory Artd &re alk￿81¢d on Ihe 5tsme kni8 85 thc 6UNM)n Costs. t)epr￿la110Th 15 ￿ngShoWn sep4rAt¢ty d￿¢ toik significani ¢ffeei ii h*s overall 4p￿rt￿n￿¢￿t ihe IDicgr4ied nJNre ofoursuppotl thciion ikb38i9 ofalio¢&iiorL usesa tsumberof8ssumrrtiorn ¢￿Im￿l ¢tneY•l Sllppo CD5ts £orA> Tot•1 2023 EWO Total 2022 Buis fvr the•llDn EQOD kniorm&tta8ement ovttsi¢ht in8nCC 79 24 151 All0￿ed￿ 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 Mana8￿￿1 suprrfxE 2W 60 1.446 1,452 950 AIlw&￿ on4ctiviry 163 Esiiin&le of8p&w us&1 145 Allo¢aleJJ onaudi1￿1uM aeiivity 297 297 'I'￿thI suppjrt costs exc]•th￿8 dcprerknllon 15ec column A in qbie 40OS 109 4,114 'I'otaJ tkprcciatii 887 %87 Ey11n￿te 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 L￿5 ttlltsrttlinn iable The aiKiv¢ Suppom ￿dd￿rE￿at7￿n wff¢alio¢thJ Bcro&s ih¢ followin8 &rellg CeAeral Depreel*ilr•n S*pport CD¥trs (Colullln A £0 Totsi 2023 21b22 Icolunln Bl lrt sUP￿rt of commucial iroding opcrations (see NL*e 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 $tsted *tEÈrtb*r8lBg: Depre¢￿11￿ & of Intsngiblcas Ainonisaiion ol'lusc AuJiioT5' mnunerdtjon-4udli￿ryKt¢ its thc ccAmc of CBllyUL8 ther thJI1￿ ¢mpl¢>y¢o. No ¢xpetsw were rAid in2021122. 12. INTANCIBLE FIXED A￿￿[8 Growi & cknrlty Sy5ta Ai 1° Awil 2W22 Additions Wriieoffs AI 31. 2023 3fO) At I. ATAiI 2022 AmoNisalion forycar Writ¢of& 93 69 Ai 31° Marth2ffl3 147 Ne¢BotskV#lry¢ At 31. m￿t￿2￿23 Z13 Al I. Aptil2022 91 37 THE ROULYDHOUSE TRUST NOTF,.S TO TIIF. FINAf4CIAI, 8T A TFMF,NT,8 FOR THE YEAR ENDED 31ST MARCH 2023 13. TANGIBI,E FIXED ASSETS Group charlty Lea8ehdd FurnI1￿re& Assets •der Eq￿1pment Crnitrurlb) Property Oiher BwlidlTr Costs Ttytal £fj Al 11 April Z022 Additionl DispML¥ 3.1 29,312 ZQ6 3,674 3260 5,137 39,346 5J3 Al 31, Marth 2023 29.475 &397 Depreei•iioTr Ai I￿ Aptil 2D22 Dwe&iation ￿. ye4r 10.129 3,085 222 13,804 {245) Ai 31. March 2023 626 10th82 3.069 14,377 IYetBotskV4lwE At 31. M4frh 2023 2A74 1&793 555 JoJJ8 At I"Aptil 2022 2,SD5 19.187 W41 All fixed &gsets *reu$ed forckntAble wtpm from awt&relthg to byroTwJratenng¢quiwMrtsnd tho¥¢ r¢lDlingto ITr DsiThciion Ènd fit-LWt ofthecaE lThcethsiandmet of I1￿￿èTea59,645 £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 In￿1￿1￿¢[¥ ]nv¢gttswi fres Dn in (7301 136) 1431 M￿k¢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 Invc￿l￿CThl 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% VATreeo￿b 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 dor￿￿1 uttder8lft￿d. Jfj. CREDITOIIS- f#Uity#d* wllhlTh fyn¢ y¢*r Grnttp 2023 Chlrfty 2D23 £Mo *rtty 2022 2022 Tr4de crediioTS A￿U￿1d￿ to trodiDgsyb5idiary Oiherctedilois 1388 1.329 1335 2,016 3.525 3,294 145 l J35 Accrud$fithddefr((th I￿01￿¢ 2,813 2.491 0262 4L370 7.451 6,046 Dofwr¢d in¢WT￿roWpfk￿5 amounts r¢¢eivpJorknlkd forwhi¢b proi¥t0rex￿dIl￿ltoc¢kws in a futuye fin4n¢ial y¢¥rdEtails ofwhith ￿ follow$.' Gr•¥p 2013 Croup 2022 Chllrlty Deferred I•coJne 2123 Orth￿￿ J)alorK¢asai I. April cf¢Trod incDrnC fLwgni5LxI in thcy￿r Drkrrcd In Ihcyc .672 11,470) 1,632 623 1.070 (7181 1,320 439 370 374 u131' Mwrh I￿34 420 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¢$th¢t￿ fiuth.. PtDgramm¢ fvnd Endowrneni ￿nd 6292 2,908 6,076 1,639 Campus Projeci R¢sfftcied Seciiom 106 4W 400 R¢51ri¢ted capitsl funth.. her 18,945 18,467 39.609 113.446) 40.638 Gthcrnl rv The unrtytnCt¢d ¢thtt41 fuTrJ 15 aV￿labl¢ lo ihctargcts 5& oul in ihc R￿l￿V￿ Policy as in lh¢1h￿￿S on pw 14. ITh¢trAiÉfrib¢twJ ￿lue is th¢ n¢Lof rhe1ronsknl￿Yfr￿n ihc following fund5.' Tr￿[L￿ (t¢yrrL￿ desi￿￿1￿ri￿￿ ￿5¢¢ furvj Trongfer iioyfttmn desi¥D&ta fvnds tsthcr Tronsfer ItoyfrLKn desi8n8ted capital Transfcr ItDyfr(Mn endowrncnl fuTJd Trdnsfer ItoyfrLXll d£51s￿ed Camws Proie¢i furtd Transkn ItDyfrLMn restricted Campus Prtrjeci fithd 14.8781 436 372 4.165 433 An explarAiiOn of¢he￿I[y￿srctS is Provid￿ ynd¢rth¢T¢kvpni headin￿ below. n.¥cd ag%ci UDI￿l[Lct￿￿e¥IgNattd fixedo55¢ifund rep]E￿I5 theFv>Ni0nof￿nr￿1nclethfu￿d5WhIch hssbeen inv¢S*diniheR￿Jlld￿8eW78l￿k artd Intan￿ble a￿t5 nEI oIT¢lated wis(andingloan5. li has ken clllcul*ed4s foliovs.. Total Net VI￿ tylJni•n￿bb Fix¢d8wfS 'I'¢tal Nct vttl￿ Dfi-Ényhle fixed a￿8 itss valur rovcrol hy Rr￿￿[¢dC&pits1 Fund18ttbcJowl 213 30218 118,467) Sccbclnw 11,964 The tron5fLY funth valug of £4,877,910 ttptesthis ihe amount Irahsibyttl fr￿kn 8trternl restht 10 bring Ihe valueof IhL¥ fvt pio Ihettquired level. Thi%dcyi¥nated futsl will berClea￿0V￿rthe Iifeufthey￿tsI0Which il Tela￿￿,. thc5eaagtttgbaveliveggpannin8 78 ycafh. Lied co 650.0￿ desi8nBtcd into acapithl R#new&l Ibjnd representing*nNnisset &gi& to ongoing renewal and replacemeni of IhB building uifva%inKtur¢. THE ROUNDEIOUSE TRUST NnTF,,8 Tn'fHTr. ￿ INANC.IAI, STAI'Tr".MF.iwrs FOR THL YEAR ENDFD 31ST MARCH 2D23 )1￿ fu s highligh*d in siraic8ic report, Ihe R￿d￿0￿￿e 1$ (￿￿entlY AddingAddiiional f￿111t￿$ ￿ ils Can)Jen $il¢ rhal w¢ tsr¢ calling ih CwnpxL5 proj¢¢i. have been designated i(>cover of ih¢ ￿ticIP9¢￿ WJ51S11nkd ￿ Ihis."lthe value ofthis d¢518natql fund J¢ ih 31 March 2023 w&s£4211,20D. r nds oiher The ith¢ indaignwd ￿r￿s01￿c[ ai Iheend of Ih¢year is as folknw5.' £och) NiwiaThoTtyid ￿n0 l1uilding￿￿ Infra5trww￿pr0Nxts 5J 808 al 0￿r the tsst few yc8rs, we rettivcd a of unrcstricied don&lion5 in mdnory Dl'a Ifueh-loved ¢￿Ik￿￿Je who passed away in 2017. ￿￿ebEen ￿TraIg￿￿Tv&led intoasing]E (ksi8naW fvnd. This fund will b¥ ll￿1 tu suFyrxl aseriegofproject& ana fund8 in her Iwnory. bl Thei¥ wei¢ a Iiuiiil*i ofbuildiil8 i1>1VtOYkn.iii￿I[ iiifrdslillilurtwthjects w11￿￿ eiiliri 5vdill￿a0i. wele be1118deveb￿ ai Ili¢yeai- tnd. FuThl$ 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 rtsine￿Ipro￿￿rnc funds reprEWllted fund8 r￿E1Ved ￿P￿lf￿Alty 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 reprtsenis8th0UrtL8Orlgi￿1IY ￿et]Ved fromltsc Paul IlamlyrtFourtdaiiOrt. Th￿e9[¢lnI,Cyte￿ in Jportfoliomonaged by Wavertorl IrLvc%ttiieht its Otdtr to m&ximisc In¢trn¢ to Lo thc knunds￿le,8 ere&tive prowineg for young peopk. UDdet Ihe th¥oing drawdowrt ￿1¢9 tsf Ihc Ethtrwmtyi ll56,000 rn#d¢ avai￿b￿ the RotsrtdFKXJ9e'8 chantthie Bciivllie £117.93) wo5 earn&ddirecily from investinent in0￿M¢With the renJ&ittd¢rtrwfetTed through r¢gerves.15ee&150 Noie 141 I1Je restrKied capital Campus fvnd represenis 8rnowig Th￿1¥e0 ih&i are r￿1¢1￿1 to *xpendiNr¢ M Ihe bjikling for whith we ￿1¥￿] pknning ￿l$s1On in 2018. Addiiional reS￿let￿ fuTh19 ioialling £1,638,767 were received in tk years and £4,164.867 wa5 iraD5f¢rred io general r￿￿ry£S io offsei4liowAbieexpenditure."lthe remaining ai rhe yvdrrs. 41 THE ROUNDIIOUSE TRUST NOTF.8 TO THF Tr"INANCIAI, STATF.MENTS FOR THE YEAR ENDED 31s'r MARCH 2023 T￿￿lferI Trlelween Funds Re5011TE ExpcNded 31" M*reh 2022 2021 Rtsource5 {Re5tht¢dl £0 £0 1.465 19.4411 11.7261 (Xh¢rfvnd3'. I)csignoid fixed Dcsign&id copi1￿ DcsignRid campus Desigoatth fvrtdyother 4,175 394 500 2,512 256 (687 65U I,OLM> 1294 978 Total unr¥triF￿ funds 6.847 19.441) 2.520 R¢siricivJ funds.. 8rumme fun FthdowmeDI fund Resillci￿ c&piial funth.. NexiGeneraiion RLSirictcd Lwital fvrtds.. Other 6,462 1361 1622) 11,898) 6,292 2,￿9 2,9J3 1406) 18,945 34,544 19,8831 4Rg 39,610 J& ANALYSISOF NEf AssEfs BMVEEN fr'UNDS Rtrtrk¢¢d Ullr¢4trlrlEd RNlrlc*d Fllnd5 31"M4rth Fulld In￿gIble fixed a5SdS T&n8ibk fixed a5* Investrncnis 213 213 18.867 30,218 6,076 10.393 6.076 Lutrenl 10,ODI 16.2621 392 CrthitLY8." Im(AJttts fallitsÈ du¢ {6,2621 15.304 19.258 6.076 40.638 42 THE ROUNDHOUSE TRUST NOTF,q TO THF FINANCIAI. STA Twi￿F,￿,$ 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 T￿n6]bk fix￿ a5Xts Inv￿lM￿nI¥ CU￿1 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 isorcg1sth￿thllrIiYandlh￿fQrc Isn￿ liablcto iTwmCtpxor¢o￿rntlnryt￿ 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 L￿arCE•s8¢d ￿The ROu￿￿￿Jse7.￿￿1 ihogifi aidxhcrnc. UABILI'IY OTr MLMBLRS ThERouiwJhw5eTwst ￿r&￿tIl￿*d 3&a￿MpanY Iimityj byguwaniegaNd h8¥ntsth ¢*pit8L'lThc lthbiliiy ofeachrJJenJkni$ I?mi￿j iDihesum of£io moKbcr. At 31 March 2023. I￿r¢W(Ye 19 in¢mbeT¥Q022.. 19 21. RkLAThD pAin'Y TiIANSACTIONt• l) CawNonMan ts a TrLw¢e ofb¢4h Th¢R0￿b￿*To￿ •rtd TheN0T￿3Th ThtsL On 111Janw2￿2,Th¢ Roy￿JhOU$¢TrUst￿q￿lr￿1a99-Ye￿￿ICaSth0Id Inlcrfstinth2Roulldbw￿ from TheNDrmaThTr￿t rorU.Im. Thc Mnding forihis purch￿ waswvided by the DfE& AS [￿rt ofih¢ fu￿j1￿g agr¢efftfnl withtk DIES, Th¢ RoundhLwse TDL%i crtiered irtto a fvtrEmrAinn Agrrem¢rtt wilh the DtES und The Normon Tru51 in 2M5. Thi¥ w¢eTn¢m ty Ctrtalrtpr¢•l￿ ri#hL*to'lkn¢ NO[t￿ttl.[L]$￿in thctvtrtt that, ofAd¢h￿ibY The Roundhous¢ Tru51, the tlfF.S its rights lo &ppoiRt a rec¢iv¢ror x¢ks ￿ di$p05c of ih¢99-yrnr Icayknkl intC￿l in the RO￿kn￿s¢. July 2015 TheP4Trnn&n Tru￿ ex*rwJFJ Ihe 1eaBegrU￿￿ ioThe Roundb)￿TTUSi for14ndadiKeDitv the RouDtthousEfiDrn 25 Y￿r5 10 99years in lincw#h ihc mÈin Icasc. 21 Th¢ tot41•nJWrti olthiii¢Ths Tei¢iwJ firyn TTUSt¢¢¥ thtritlÈ Ih¢y¢*rw8s £68,250 12022". £496,486}.All ofthe& amounts wereTe￿¥￿I ￿ donaiions with unf¢siri¢t•J use. 3} TheT[U￿ al$D fcccivEd Adon&11￿ ofE15,OW fromThr tnflrxio￿ hr which SimonTurrKrlCThaimian ofBoard t)fTn￿￿e$l is a Dit¢uor. This don411￿ was TE￿1¥*j as orth¢ Rwnd thE HDuJI￿ L￿￿18￿ ig un¥esiric￿J ill lts 41 Th¢TruBlhwonBaclivewholly(n¥nL¥j8u￿1I0Isry. R￿ndI￿u5¢T￿dlnRL￿￿1*e4Lwhi¢￿￿1tW)tsslb1CIjtlneoMe8en¢ratill8 aciivitieswhich 8te incidenial iothrTNst'stharitabk wrpLkSe& These m&iDly r¢￿ter￿ IhBor8ani5aiiun's fwdond&v¢rase or¢tatiOD, evenis hireg alld oifice tell￿1. Duritig the year Mweus Davey and Michael DIX￿ who key [TrAt￿gen￿t pr￿o￿n￿l for Ihc Tnw aDd Cayr who ￿ T[ust￿ dircth of tk CD￿￿Y. R£Kuthuse"frndiThg Limit( 81t￿d £3,559,668 C022.. £1,920,592) ￿ IheTru51durin82022-23lsee &lso no*41. 21 eOMMrrMKNrs 2Q23 2022 CDpiiAI c￿￿Mi￿nen￿- W¢bsiie Proj￿1 C8pitalComiiiiifiieni-Other A&sets uoderCI)rstt￿￿l￿-caI￿ Projeci 145 1241 6,023 43 THE ROUNDHOUSE TRUST NOTF,S Tn THF FINANCIAI..STA TF1￿F.￿rS FOR THE YEAR EI¥DED 31ST MARCH 2023 OPERATINC7 LEASE ]nJuly2015.the iioundhou8eTN318iwedasp•tcrental le¥ewiih athlrdpartyorpttiW￿. Vn&rth¢trngofihis leN8¢ fvturc minimum le￿ reethvabks Undonw.¢Èrt¢e1knb￿¢p￿Aiin# I¢w )TC&4 OIIow$.' Grov• Charity 2123 GroLV r2 2021 AwL%rt¢¢iv4>k wthin l year A￿nL% [￿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¥ R￿t￿led Prograrnttiè Fund5 Reitrlethd Ckpltal Ftrnd Endr*wment Tothl Furtdi 2022 Total Fwndi 2021 £0 DoTrxtlo#s 322 ,436 2.009 chxrll•bk Acflvlty 7265 2.611 9.876 5268 I￿r￿me fv•m vlh¢r G)rnin?￿cIal trading4Ctiviti¢S 3,041 3,041 108 108 Total Incme liJ28 1933 Il461 9,106 EX￿￿1th￿e Cmt Ofr*Lqthif￿ts 2,￿11 1983 2,185 Expendlm cdvldei RO￿dh￿￿ CwTiV¢ rtsr Young P¢opl¢ ROundbc￿e 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 tx￿￿11￿ 9.442 406 36 9,884 kurph￿l￿dE1￿1t) 2J17 (36 4J77 GaW{L05¥1 kn¥estsThents 14 487 876 N¢tIn¢•￿1￿¢xpe￿sJknreTr 1527 4Si Tran5frr bekn fund¥ 2.521 11.899) 16221 iYÈtmDvèDwbtltt kndi 628 2J62 offuThJ5 T￿￿1 F￿th 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 PYoer*mmt 'rDtsl 2022 'rotsi 2021 P￿d￿tIOnS Hlre & 1rnprTrvl￿g Ihe iwildl￿# £0 £0 138 £0 £￿0 25 Arii5ti( & cre*jYc f¢ CwumE & sd build LQSL% Di￿1 live sltfdmU)¥LOSt 'I'utor& LYJUts¢ kade¥ tees Dirttt IMatt&gcm¢nt,prthlllCer￿dc¢o￿d1￿A￿t f¢¢9 Direct Sccuriiycosts F4￿1￿￿Eni hir¢& maintendnee PerS)ffliingri2his SOCi￿Y royAliies Ti3v¢I & subs￿¢¢￿¢¢ DilwiTh￿￿e¢in￿SUPWrt Cr¢dil card trowli(Jn fe45 (Mhcr Miiccllanco￿s 5UKPOrtCOSts 1SccNO￿8-￿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 ap￿10￿c￿ using Ihvlwiy swnmalls￿ iyknv acrIMi￿L.￿￿rIIab]e ￿¢￿vIll¥sUnde￿￿k¢￿. fundrai$in¥ac¢ivit1￿dfi￿th¢LU￿￿trCl￿l&￿Ii￿)I￿Tht￿YYr￿ancCFO￿Lsarcll¥V￿ 0f￿h area and h&v¥ ithiiiified by cvnsi¢kraiion ofihe c0515 in eKh caies<)ry and allwoid on thr 5amc b&sis ihc suppori CO5￿. ttpr¢ci#iion is knngshLvn yyr21ely due 10 Ihe significant eff¢£i li hason ih¢o¥¢Trll ￿P￿rtY)￿mrnt. ￿thE iDWted naNre ofoursupwrt rutt1K￿ b4yis ofaliocaiion usesa Dumbernfa55WViOtw ynd uliiDat¢& GeTrerAI support Costs Tot*1 2021 for*lloc*iitsJb GoveTh•llce 2022 Sthiof tn#n¥Ée￿Ullt ovtts￿h¢ Finance 230 Allocatryjon time 245 Allo¢y¢d unauiviiyhime 306 Alltrat¢d on 332 Allo¢At(xl OTh￿tivIty1t$ 2T2 Allw&td On time 278 496 399 22 20 298 HR IT Jupp)rt Ticketing Sayice5 visi￿19 sffvice5 Dnd 8enerdl 5xuriiy Building InDinienance & ckaninB Admtnigirailono￿￿C '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¢IAs￿iU5E rotsi s￿pp￿rtco*ts 3￿06 105 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 deprec￿110￿ W¢T¢wlloCalaia￿s￿ll¢ fttliowiDgare&* Genenl DepreclidLbn S•pport Costs Icoluinn A) Tothl 21J12 Tolal 2021 lrt $llp￿rt or ¢omm#¢i#l tradl Operat￿r￿￿{See NoieOI' supwt of fvnthsing 4nd pvblirityl5ee No* 61 In Suppkjrt tsfcknritabl¢4L*iv5hr IS¢eNTrt¢ 71 784 847 75 92 74 2.029 2332 2267 1771 47