THE ROUNDHOUSE TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 THE ROUNDHOUSE TRUST Company Limited by Guarantee Registered Charity REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED ST 31 MARCH 2025 Registered Charity Number: 1071487 compan￿ Number- 03i72184 THE ROUNDHOUSE TRUST REPORT AND FINANCIAL STATEMEwrs FOR THE YEAR ENDED 31 MARCH 2025 COIN4TEIYTS Pgge Report of the TrusteEs Incorpordtino ihc Rcpon of the Direciors h}, Ive Exist and Ivhai Ilte Do trate￿IC Report Revi¢'%i' of thc Financial Posilio Risk Manogement io KE) Poli¢y Siatements 11-16 StnJLturtt, Goi'ernan¢e and Man￿eMent 1&17 Ref¢rencc and Adminimraiive DetJi15 18-19 Trustee5 responsibilities in tel￿tOn io the financia] 20 sla£ements Ind¢pendLni Auditor s Report to the ￿lemb￿lS of 21-23 The Roundhousc Yrnst Consolidaied Statement of Financial plrtSVities 24 Group and Charity. BilancL' shcc 2) Consolidated Cash floii. ￿￿ement 26 Notes to ihe financial ststernents 274) THE ROUNDHOUSE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31ST MARCH 202) Report of the Trustees Incorporating the Report of the Directors ThL TrusleL5 of the Roundhouse Trust, ivho are a159 Direclor5 of the Compan) for the purwse ofcompany Laii. are pleased to present iheir Annual Report lor the year ended 3151 March 202). including thc D1￿CtorS Report and thc Strategic Report under the 2006 Act. The accompanying accounts include the consolidated rcsults and balancL sheet ofthe Roundhouse Tnjst and its actii'e subsidiary. In revie¥vin2 the plans. results and achie%'ements of the Ewitv, this Truste¢'s T¢POrt comm¢n15 Princitmllv on th¢ aclivitics ofthis group as a iyholc. The financial statements comply i%'iÈh thc Charities Act 2011, the Companies Act 2006. the fvlemorandum and Articles of Associatioll, and Accounting and RcFK)rting by Charities- Statcmcntof R¢commcnded Pra¢tiLC applicablc to charitlLS preparing their accounts in accordance ivith the Financial Reporti￿ Statknknd applicable in the UK and Republic of Ireland IFRS 102)- The Trustees hai'e considered the Charitv Cornmission's guidance on public benefit and have sei Ihe annual objcctives 5trateqies and activities of ihe organisotion iyith the aim of deli￿ering the beTrefits outlined abovc. Additionallv, they have considered thc Commission's guidance Ice chttrtting: alloi%'jnLf the i%idest ￿ssIble access io our pmduciions and creLtiNe programme is C￿ClaI sofficthTn(¥ Strive For llcross the full r)nrt¢ of our activities. Thcre is a separate Th)tc below providing morc dctaits on our aC￿Ssible pricing. Why We Exist and What We Do IV¢ ¢rtatc to transform I'hc Roundhou3c is a hub of in5Pirntion i%hcrr artists and ¢mLrging talent creute £xtraordiTMry i&￿rk)nd ivh¢re young PLople can aroiy cr¢atiYLly as it]dividual* Wc I￿lieVC thal ¢rL"ativitv transfortn liN'c& By giving yDtm thc chance to engage ivith thc arts through our music, media and perforniance Projects. ivr Insyl￿ Ihem io reach further: d￿at￿ bigger and achieve Tnore. Ive do this because ive believe Creativity giYe5 us frttdom, hope and Iws thc poibcr to trat]5form. PoTrTrcri#% IrxnsfortTJatio IvLry year ive hobi hundrLds of gigs. shoiv5 and c¥ents in our SpaLC and throllghoul our building. F,v¢r)' ti¢kct bouohL drink sold and donation 1.rom our generous supporters atMI partners helps tiind the rransfomiaÈional iiork we do ivith >oung people in our Paul Hamlyn Roundhouse Studio& R￿ndhouse Works and i¥ith our community Charitable aims All of our 1sYJrk is underpinned by three clear aims that are linked io ooals identified when the charitv set To provide a protsrammingramm¢ i¥hich in¢ludcd liFc skills SLssion& mLmbLY socials and supported studios scssions For )oung people taking part in our comEnunity Outreach ivork. Rollndhouse Ivorks 2024125 was Roundhouse Works. second full )'ear in opcration and suiy U5 develop the workspace s creative eommullit), and bLt￿r und¢rsMnd our m¢mb¢rs' tteed Demand coniinu¢s to groiy and onboarded 190 ne￿ membcrs in 20241?5. a 660/ in¢reas¢ on the prekious year. lembers, usc of th¢ spa¢e remains high, Ivith over i,000 hot desk booklngs across ihe vear. The lop thr¢e industries represL'nied are film and TV, p¢rfortning arts and joumalism, and H'c'i'e tapped inlo thL' ¢.Yperti)c of our corpor41¢ parlTh¢rs to dL.lii'er valuable iHdustTr'_rclevont advice for our memlK'rs. Our Self'klade series provides career advice for emerging ¢￿tIve freelancers and cntrepr¢nouTS. for fir51 tirne tiiis year, also launchcd thrcc Self Nlade-on demand.", sessions that i'oung people can acccss at an¥, timc from the Roundhouse iiebsite. Profe55ionJl Develo ment Ive significanily boosted professional thvLbpment opportunili¢s for )'oung people this year, olTering 221 paid performance and back51a8e opwminities ihrvugh our ¥'enue. NIoreo¥er. through our neil Roundhouse Three Sixt), fesiival each ApriL Te crcating a regular platfomi lo make more of these optx)rtunities hllppcn in fvture >Lars. Our Poctrv and fvlusic CollL'Ctives continued Ivith neivy¢•r-long ¢ohorts. pcrfomiillg Eoth ai the Roundhousc amd at fLstivals el&'ivhLTe. and collab()rattng %¥ith each othcc across anfomis to makL urioinai i¥Drk. In pmnership ii'ith our Associaie Artistic Director Danael Kaluuv& launched Centre i9. l&e ran three phases rtrst ii'ith corr*munits' groups and school& the second ph￿ through a 5umrnEr holiday prQ4rJTn￿£ offering theatre tL8ter i¥tek5 durin￿ ihe summer holidays. The third ph￿ ivas a 6-mortth intcnsiTrc Ihcatre coursc tor yountt winal Kvork in our April RoundhousL Three people i%'ithout prior training. culminaliDg in ts paid professional run ofori. Sixty f¢btifvJl. Our Broadcast and Digital Prod￿lI0n pro*rdmmes continued to produce the hÈohesi qualiry ivorL rc¢oear. In fundrnisin& ii"e se¢ured mwr neiv multi-)ear pailnerships that iiill pav¢ the vav for iTrcrewd income and ambklion in the years io come. C.nmmercial Ilusic rn rnmme '¢ hosted 113 commerLial musicgigs (108 in 231?4). Ivith artists representing 2 of genres draii'ints audicnccs rrorn acr055 London and beyon Hires and Event ro ramme Our v¢rsatilc main syaLe hosted 65 commerehal eNcnls in 24125 {5) in 23124). from prifvYtL PtsrtIL'S to high ¢nd galas and cxhibitions. Fundrxilin 2f)24lli also saiv in¢r¢ased fundraisiTJg income from the previous vear: as iitll as the bllildinq of neil. rnulti-l'ear p4rti)¢r5hip% (hat ii'ill unlock further ￿roll1h in th¢ yeats io come. fuclling Roundhouse s ambitions for our i%Drk Iviih young pcople. Wc relaunchLNd thc Entsepr¢neurs Circl¢. a giving circle that also conlribuies ￿ the development of our creative cntreprcncurial programmes lor N'oung people. Ive secured major strategic mulii-iear grants, including funding from Arts Coun¢il EnTr]ar￿ ￿ suprx)rt of vital capital upgndes to our buildinry and equipment. Ivhilc crkdcd ihc year slightl) und¢r our original ambitious targeL i¥ork in 202412) hus laid si4ynificant roundii'vrk for future years includinff neiv grants partneiships that land at ihc beginnino of 25n6. In 220412) iv¢re deliohied to Secu￿ a neivly expanded partneiship M'ith Spo(ify cemeni&ng them as a Prin¢ipai Panncr of our CretttiN'¢ Studios Icmbcrship and Chill}'s &$ Lead Corporate Supporler of our Resident Artisl Pronramme. lrt June, Roundhouse rook on the South Doivns Wa) ¢httll¢ng¢ to rais¢ liinds for our iiork ivith young p¢opIL. A 26 mile Irck from Brighton io Easiboume. raisino over £190.000 supported b) lead partncr Inflcxion and attendtd by 41 Ivalkers. "As afornier Rouna4liouse Jioungpgrst)o Iknuwfir51 huttdilie impact RoundJiuus# is muking foyouii cr*ntives. J'm now a Spotify ginplt))¥e undit's brillillFJtlo be working wilh orgopiisolioii ijiot'sso eonnec¢gdto dev¥lopinn ili£ n&￿Sentri11lort oflulenl." Je51e} Fa!.¢ Fantolgo, Edilorial Coordinator at Spotify an Roundhouse alumni Objective 4- Ive will protecL m2Lntain and upgrade The Rollndbouso Estate. i>hile ehatnpionino sustainability and deliverin u#litV s¢rvieL'. Proteetirt maintainin andu r2dill￿ the estat¢ Our Grndc Il* lisied building requI￿S rcgular maintenance and ive delil'er yedr-round ivork to cn5ure our STra￿S are Safe and suitable for all our activities. 'rhis >'car. thanks lo a grdnt fn)rn Arts Council England and other fundLrs iTre able to carry otst major improvernenls to our estate to improvL thc suslainabtlily ol our OPLrJtions and Lhe LXP¢riLn¢¢" d¢"liv¢r FOT audiin¢¢s and youn¥ people. Ive se begun ihis and ivill k continuing ihc upgrddes into 202i126. Major projects ilc'vc carriLd our over th¢ pasty¢ar includc- A full upvrade of our iycll-used larg¢r ￿hearSal space for YOU￿ wiple. the clo￿ Siudio. mad¢ possiblc vith a grant Irom the Clore DutTreld Foundilion. Improvement to thL" physica] acccssibilitv of the RoundhousL Ivorks eniraftee Thc replacemcnl ot camera equipment for our Broadcast and Digital Production progta¥nme t.or }oun8 people. The replacemenl oliabling ar*d the copperhead sysiem that connects video relay from our i'enue iiiih our studio& ensuring ¥%e can con(inue io r¢¢ord main space sho￿5 and train VOUn￿ peoplB in broadca%t. Rcfrcsh of drcssing rooms Siarte ? offhe firL. door installatiolls THE ROUNDHOUSE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31ST MARCH 2025 Sv$tAinahili lknis )'ear, took time to plan measurable stcps to becomin￿ a net zcro o￿anisation 20JO. iirith sustain2bility now embedded in our 20?i-28 business plan. ￿le.￿C identifjed clear I3￿et& i%hi¢h 11 report 4oainst 10 our board caLh quartcr to ¢nsur¢ progr¢ss on SU5tainabilitr- is moniioted at the ver) lop of the orftanisation. Our eross-departmcntal Grccn Team continues io meet and progress the SUSthin&bilit¥ a¢iion plan. Kev aetiviiies this year his'e included- The in51allalioR ofiot]" siai. bike racks, lor use bi our statTand KounLlhouse Ivorks member5. IRtroduciThg food i%'25te cotnth)slÉn2 facilities across our siie. including stakeholder communications with caiering suppliers for commercial C￿cnts. Removing glass i*sne ￿ttICS from the Roundhouse Bar and Cafe bi, introducing a neis. keg-bascd iyinc supplier. In 202412), a150 moved lo a n¢iv ￿.￿1¢ supplier, Firsr Mile. M'ho havL cicellcnt sustaÈnobility' credentials. First Mil¢ ig providing us ivith a regulttr rewrt on our rcc)'cling rnies. enabling us to sei targets and traLk pmgrei8. Deliverin sen'ice Ive have continued to build on our e¥ccllent s¢Thice dL.livcry aLross mul¢iplL arcas to ¢nsurc are ulivavs ts s&fe, velcoming and inclusive space for all. Our opcrational and Iront lin¢ l¢wns in¢ludTng our volunteers continue to strengthcn as iniest in their dcvelopm¢nt and training. Th¢v a￿ a huge asset lo th¢ organisarion and ivith their skill and cxperi¢ncc ab 1s.¢11 as drii'e lo ¢oniinually look for improvements in scrylcc delivcrv. (￿r Health and Safety Culture remains at a high standard ucro55 the organi5aiion, with a rcLiincd high score in our annual audit. Our rclatÈorL5hip ivith Attitude is Ei'eothino vho are an organisation m.ho support Venues and Festivals in accessibility excellence across i'arving areas ofthe arts industTh- has been reneiied and i%E look fDnvard to continuing to iiork ivith them. A keK' achievement in improvin¢F accessibility al thc Rowidhousc is ihe itnplcm¢niation ofour CR,bl S%tsiem Frcshdesk. This alloiis teams to bctter handlc and track a¢ttss requirements and ¥YJtnmunications ensurino provide a premium seTri¢e for an)one ibiitj acceisibilitv requiremcnts. In cornpleting full audio sv5tern inspec110￿ a10I1£5Lde full rig inspection took place ivhilst the Main space ivas dark. i¥e have a150 itnproved ihc cxpcrience for visiting Productions. We ain) to ensure is'e offer an aM￿Ing cxpcri¢nc¢ for all customers b%, Èn%'esiing in the quality ofour sound Systems. To achicve thi5 lic have inv¢5t¢d in our PA syslern aller a large lender process io ensure %%'c ar¢ ivolki￿g ivith th¢ b¢5t equipment and the best Pitr(ners. Objective 5 Our most Yiluable I55et 15 our people. To deliver our ambitious fTh'e year goals we need to further develop our elltrepreneurial and iDDoTratiTr'c euliurL'. en5urirtg th)t it is alignetl to our %alues artd dnisAtrortal ob"eetii'es. We ivant the knundhouse to fcel like Lon(lon. This means that iie'Te iiorkin4T to ensurc the dcrnographi¢ makeup ur our board: sthff, voung cre￿1￿¢ programmc and artists. on our stages reilLci London. as part of our i¥idcr goal to inircase representation in th¢ creaiiv¢ industries at large. Our specific EDI principles: ambitions and ben¢hrn￿kS arc sct out publicly on our ifvebsitc and embedded in our crosp(kpartmental KPl& re￿rted quartcrl>' to the Board. In April 2024. we hosted our annual Driving Chanve conference for euliural sedor EDI and HR leaders, in parinLrship ivith Thc CJla5shovse. 5outhbat]k Centre and the National Theatre. Topics include clas& valucs and leadership 2nd the ei'ent atten&d bi c. 70 CUl￿r￿1 scctor profcssional5. Vti sUp￿rt our emplovccs io understand the role thek pla). in the wider organisaiion ￿. linkyTrg indikidual goa15 to the ii'ider or￿a￿ls1t10naI goals. Ive then support deFelopment usin8 our cornpetency frJrnciTrork as an underpin for both group and indistdual des'elopmcnt. Usin this IrarneiNork-. in 2024125 %¥'e launched a detrelopment programmc ror ¢)ur SL'nior liadersliip tcJrn 10 ¢nhanc¢ ih¢ir l¢ader5hip wid management capability. Goi￿￿ foni'ord (his Ivill bc Lnhanced an in dcpth Ma1)￿<￿¢￿¢￿t d¢belopm¢ni pwgramme across 211 mana￿ement lei'els. In 202412) i¥'e ivork¢iJ ivith consultan¢) EqllaliTe￿h io devclop a rL'cmitsneni fratneHDrL proc¥sbes and related staty trainino We ve also supported organÉsational governance tsnd data capturints Is'ith the iniroduLtion of ne%Y rinance and FIR systems. These 5ySterns havc tull) ￿t￿rated irtto our ivays of ivorking and enhancing our reporting Capttbilifv. THE ROUNDHOUSE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED31ST MARCH 202) Looking ahead to the future Roundhouse has dcvelopcd a nei%, thTec->car hJsÉne55 plan, responding lo the shifting COn￿Xt in the cultural and vouth s¢¢tor5. Our neiv three-j'ear plaJ]. Ivhich ilill tun from 202) to 2028. rc-sc15 our ombition ¢0 r¢a¢h 15,000 )oung people ￿r year. i%,hilc also strenuthening hoiv conneci young people to industsy" OPPOTtunities - IM)th through our artistic proorammc and our professio￿al netthorks. The s¢cond editioll of our Roundhousc Three SIX￿ f¢stii'al Kvill be a planning focus for 202i126. Noi% that established thL li'sÉival s brand, ￿l..1[ focus on buildin4p its impacL aiming to continue engaging a >'oung and divLfsL' audiLncc ivhilc creatino unmatchcd PfDfc5sionJl opportunilics for young creatii'cs. Another key d¥veloprncnt for 2025126 ivill be the creation of a Roundhouse di ital platform. Ivhich ￿11 expand our crealive youth ivork rnodel and its iTnpact beyond our ii'alls. The digital plaifonn will create safe. meanin- conncclion5 through creative collabDralion and learnin47 for }'oung people across the UK. To a¢hi¢i'¥ thLSC goals lor young pcoplc. ii¢'w fO￿LaStIng significant tsroi¥1h in comsnerciai and philanthropic income OVLr the n¢%t thft¢ year& THE ROUNDHOUSE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED31ST MARCH 2025 Review of the Financial Position Ineome The Roundhouse hls a di¥ersified income model i%'hi¢h meaT]s its earns Tnonev from a llumber ol'different SOLtrces. -rhis tncludes the rental of our rnain auditOriEJm spacc for ,Music Gigs and eN'cnis. fuftdTaisinn activities: corporate sponsorship and some public funding &ia thc Arts Council. Some ol the income is earncd throuuh Roundhouse Trading Limited, ovr commercial subsidiar¥. Total Revenue for the )'ear £16.6 million (2024.. £15J million). ReNenue from trddin. (T actÉvitTr has Trrnpmved rrom last vear at £7.1 million12024= £6.1 million). This li'￿ a direct impact of increased commercial activitTr. IncomL Irorn Lharitable actiFiiie5. donations and invesEmenis tor the year le.XLludino testriLted Lapital income) ifvas £9.3 million12024.. £9.3 million). The rcslrictcd capitsl inconK" re￿iVed in the )ear ot- £0.2 million (2024: £0. I million) rep￿Sents funds received toNvardb- Capital projccts. Expendi￿re On ihe Income and Expenditure Siatemenl. Expendilure Is reportd under hvo bToad cateuories. Costs of raising funds and Expenditure on chatiuble incon￿. Costs ot"raibing funds. include c051s relating to thc trading actii'ity and thosc linkcd to ￿ndraisIng. Expenditure for the yejr for this area was £4.4 million {2024- £4.8 rnillion). EXpelldttU￿ on chatiiable actiwit). I￿￿£13.9 rnillion acr05S the four ()0)4-. £11.4 milliunl. Forlx)th ycars these numbers include all allocation of depreciation linked to the initial rcfurbishmcnt of the buildin(T Excludino depreLiation expenditure on chtiritsble Activitv £12.) TTrillion i?024= £10.1 Tnillion) Trinaneial results and closing funds ON"erall the consolidited result for the charit¥. included a deficii on unre￿rIc(ed funds of £0.9 million {?Q24: Surplus £0.3 million) after translers beThi"een funds of £0.3 mFII?on (20?4: £0.) million). Ai ) l Mttr¢h ?0? -). un￿$t[l¢led tunds carried tonlard i%ere £14.7 million. The charity ￿ecI5.cd £O.?62 million (20?4= £0.096 ￿illiOn) restricted fund5 in the )ear toii'ard5 specific rK)n-capital projects. Thc rcstrictL"d capital fijnds balance at i 1st ¥1 larch 202) iiai £17.) Tnillion12024-. £18.1 million). Th¢ ¢xpLnse of £0.7 millioIi (20?4= £0.7 tnillion) rcptEscnts dLprccialion on rcslrictcd aS5L'I5 pfL￿.10usII capitaliscd. -Ihe ¢ndoivment fund balunL* as at 3151 Mi arLh 202) i%as £7.0 million120?4.. £6.9 million). Thi5 rcprcscnts r¢strict¢d investments donated in 201 l. The draivdoiin njles ol (he endoivmcnt alloi%ed for a £0. I million drnwdoiNn in the 'ear. Finaneiil Outlook beyond JI I¥IxTch 2025 'rhe finaniial landswe lor ihe curren( looks markedly ditTereni from the projections madL under our previous rive-)car busincss plan. As Lost of living pressures continue to irnpa¢t the broader economy, lie haKe reassesbed all areas of our O￿TaIlonS io safeguard (he organisaiion's long-iemi susiainahility. Throughout ?024125. 1%'e have built on the d¢liv¢r)' Tnodel and smctUTal ¢han(s¢s impl¢m¢ntcd in ?020121, udaptin" ts thc eN'olvinL7 contL¥t ivhile m&intainin¥ fo¢us on Dur CO￿ fflission. Lookino ￿)elld, i*e are implementin(¥ a nei%. three-year busjrtess plan (2025-2028) thaf sets out an arnbitiou% and roniard-looking SIr￿e0￿. At its Lo￿ is a reneiNtd commitsnent to reaching li.000 young people annuall}. 2nd Lnhancing hoi% iNe conneci them io industr) opporiuniiies through both our artistlL proordmme and prnfessional nLtsiorkb. To dcliNer ON thcse arnbitions. lit are forecasting sionificant groiwh in philanthropic income OWLT the ncxt three ears. In support of thi& lic haTre strengthcncd our Partnerships and Philanthrops. team and stratenN. alioninn our rundraising approa¢h iTrith ih¢ sial¢ of our prugramn* goal& Ke%. strdtL'giL dcvelopmLnts in 20?in6 i%ill in¢ludL thL coniinu¢d expansion of the Roundhous¢ Threl. SIKN, f¢btivul and the launch of a neiv di¥itsl platfom) io scale our l'outh entt -agemeni model nationally. These initiatives are support¢d bj a broadcr inconK di&ersilicalion stTaicg)". including t￿￿_¢t¢d ¢tYorts to $1abilisc and groi% commcrcial iniome through enhan¢ed da￿ ts￿￿¢. refresh¢d brandtng. and in¢r¢as¢d In￿¢5￿￿¢￿¢ in sales and marketing. Operationallv. lie haNc en5urcd that the 0￿￿nIsatiOn rcrnains ￿￿Ttle and rcadv statYin£y dccisions carctully aligned to support both fundraisino and future commercial 2Ctiwtt)'. While the short-t¥rni finattc511 impact ol. Ihese iniiiativcs rcmains unccrtain, arc Lonfident in their long-terni %'aluc. Our80￿"eM￿ce remains robust. Ivith the Ex¢cutivc and SeniorNIan￿￿CmeTrt TLam rettularl) rci'iciviTrg adj￿51]n our finllncial wgition in rcspon5e to shifting cotKlitioTrs_ Ongoing communicarion ii'ith th2 Board ol'TNstees ensures ¢onlinued over%ight and alignlnent as lie deliver on our s1rJtegic and tinanci£il goLiIs. THE ROUNDHOUSE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31ST MARCH 2025 Risk Management Th¢ risk5 th¢ organisaiion laccs arc ￿￿tC￿l￿d on an ongoing basis throughout th¢ ycar b) Ih¥ senior manJg¢m¢nt team and the Tnjslecs. The kL'y risks for the organisaiion ￿'maIn similar ￿ those reEX)rted in the 2024 financial aicouThi Isjor risk therne5 Financial osition I"hL IDng-terni viabiliry of ThL Roundhousc"s is d¢p¢nd¢nt on our abÈlity' lo continue to fund our charithble octi%"itN through a combination ofLommercial and fundraising income. General economic pressure& supplier LOSE inflation and increases in the ¢ost-oC-living pose risks to our commercial trA)th through ihe reduced abÈliii' of tbe public to alTord to spend on leisure. To mIti￿ate thi5 risk, are i￿vrking hard to ctjsute that Incre￿ the number of main space booking ond improvc thc cffi¢ierKics in our dclivcry m(Mlcl. -rhc cnvtronment for fundraising and grJnts is also challenging. and the govemmcnt's levclling up agcnda continues to focus money away from London. Th¢ Roundl¥)use faces some high-risk moments over the next year r¢laled to thc aivard of key filnds from our corc SUPPDrterdfund¢r5 aJ)d some significant comm¢r¢ial income targets. To mitigat¢ som¢ of thes¢ financial ive ha%e sought 10 secure multi-y¢ar ¢ontra¢ts ivith 9)m¢ of our cIosLSt partners. and to liThhi Ollr ivork prDvidinft opportunities for Young people both across London and outside the Capital. Ma or international events ThL continuing global conflicts around the ivorld are hiohl> cmotike and distrcssing. At th¥ Rounthouse i%'e hai'e nL¢ded io rLact quickly to these ivorld even￿ il*ith the primary fo¢us oFcnsuripg the sufetv and ivellbcing of our stalr, the voung peoplc ¥*ho access our ￿r¥l¢e* and the public. As a l'en￿ i%'c arc ucutelj of our respon8ibilitv its pwlLCt our ￿trOn$ thit ivill only be ¢rih2nced by the PrDt¢¢tTon of Premises Bill iihi¢h gained Royal assent ITr April 2023. th'er the ne.xt two )ears ive will work to ensure that li'e hay¢ Jll u(tditional me&%ures in pIAcc. This >'ear upgTadLd our CCTV S$￿eM and have continued sialytraining. Ive also actively share iDFomiation and id&is iNith oiher venues through netl%Dtks. The ivider olobal uncertaiTrÈies have also prompted US to revieiy our due diligellLe process around both the acc¢ptancc of funds and the privatc hire activit%. in ordcr that il'c have Cle￿ proc¢s5cs. It is critical that iNt have ¢lc8r guid¢lTO¢S io help us nai'igale thes¢ comple.¥ deLiSiOfjS i%lth an obje¢iiv¢ s¢1 of standafdb. Roundho I'e ¥Nerc dLli-hted to open our neil Roundhouse WoTk5 building in summer 20?3. helping us io mcet our goal of increisino sionificantll, the number of}oung people M'e iiork i¥'ith annuall) and expanding the progrJmmes and 5UPPOrt li'e can otTer. Thi5 11.us ihc most significant construction & reneiiyl project thc Roundhou5c Trust has und¢rtak-cn sincc its iniliul TLfurbibhm¢nt of thc Roundhousc buildin- bchiccn 2004-2006. Thc fina5 ar¢ounts process to closc out ihis project is LEndcnvay. 1￿C arc i¥ork-ing ivith a nroup of irusted adviscrs to mitigatL' thc rinan¢iul risk. 10 THE ROUNDHOUSE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31ST MARCH 202) Key Policy Staten]ents Investment Policy The inves￿lent polic} is set b% thL TTUStees and revi¢sTred annuall*. In fvlarch 201i: thc charilN ap￿in¥ed JO Hambros. later renamed IVai"erton In￿s￿llen[ I￿10Ma£¢M¢nL to manag¢ the it1￿¢)[ment ofthe £im Paul HamlNn troundation cndoi¥mcnt fund in a mix of inNesttnenis ii'iih5n spe¢ified ¢lhi¢al uidelines. .kn Inve51tnent Comtnittee set vp comprising Truscccs and inN'esimcni c.xperts to monitor Éhe lund. An inl'estment poliL)' has been sei by th¥ Trust¢L5 tarttclill￿ an ar￿Ual total return of CPI plus 4°1'0 Is'iih au etnphgsis on ethical guidelines. For thc fm2ncial year ending 31 Nlarch 2025 the CPl+40 RO benchmark equaied [0 6.6 0/0 {20?4- 6.60/ol- auain5t iTrhich the portfolio retumed 4.i'iQ (?024:1801￿j. The porttolio is Tnanagcd ivith a lonry_terni vieiv. SEn￿ inception the annualiscd CPI + 4% has been 6.80JO 22ainst ivhich the portfolio has returned 8.60 Surplus cash is invE5ted in loii risk, high interest deposit accounts or on thL nN)ncv market io achieve as hioh a reium as possible ivhilst not risking th¢ ¢Jpilul funds. Th¢ Company docs noi act as custodian Trus*e on behalf of othe Fundraising Th¢ Roundhouse has a profcssional ￿ndraising dcpartmcnt kd bv the Partnetship5 and Impact Director. The tLam is responsible for lijndraising l-rom individual>. evenls. trusis and foundations and companies and iiorks ivilhin the guidelines set out by the Fundraising Rc£ulalor and CodL of Fundraising Pra¢ti¢¢. Th¢ Roundhouse'b fundraising is 5UPPQrtcd by volunteer¢i?mmittees inLluding a Gala Committee ii,tio help i¥ith the orryanisation ofthe biennial Gali Durino the }'ellr ii"e conducicd a re%"iei% of its duL diligErt¢e processes and atE in Iht pioce55 of 5ettinu up a ievi5ed Truslcc comtnittcc thal iiill provide Bourd sup￿T& The Roundkouse does not enoaoe any e.¥temal partnersor fundraising agEllClCS to carr% out fundruisingon its behalf. Nor do in tundrdising artivitics that ii'ould place wulnerable people at risk. The Roundhouse Subscribes lo the Fundraising Regulator and is signed up io lh¢ Fundraising Pref¢r¢n¢¢ S¢rvic¢. During the 2024- 202iyear ther¢ ibere no complaints received bv the Fundino Rcgula10r. Aceess for all Our vouth proarammes span arangL of an fornis to exeitc. inspire and ¢Jpiivale young p¢opl¢ f¥om all backgrounds. Ve offcr opportunÈtie5 in music. theatre, cir¢u& spoken iboriL and broadcast and digital, IN'ith a focus on des'eloping skills and building confidence. One olour key roles is to young people ivho mi" -ht not othcnYi% have ac¢c55 to the arts, and to challcnwe thi or01￿ng diTride in social niobility betii'een dilTerent socio-ecoftomic gmups. AcLessible tickets We provide 16-2is acce5S to £) tickct5 tor 5clccLcd gig5 and shuivs ond during our inaugura1360 Fcs1i￿al provided over l ?00 tickets at £5 or less to young people Pastoral support Our Infortnallon & AdvicL Base. ILd b). oxpLriLncL.d Yvuih Support IVvrk¥r& o(feTS pastorJl support on issues such as housin& employmenL mentsl health. traininu ¢ducaiion and othcr arts opportunitics Tailorcd actii'ilies for targLt groups Ive rcach those iiho are mos1 in need by offerlljg taster and regular sessions to schools and ¢ommuniiW groups and providing iniensiv¢ prograrnmcs for Novng peoplc noi in educaii0SL emplo}'mLn( or traininq. Ring-feneed places Il'e %¢t aiidc pla¢¢s for Joung p¢opl¢ from our thr?¢t¢d pr02ramm¢s or supwjrted b). our on projects Lornmyniiv neniork par(ners for our OPLn access projeLlS. The plaeLS are held until shortlv before ihe project s&ins 10 vive ihe5e loung people the best possiblL chancc Df acless. Bursaries Our bu15uTr' schcme provides acce5S to projects for )ouno ￿0p1¢ ii'hL) cannut ifford to pa}, Ihemselves. A travel bur5aTr is also available. Subsidies Our projects are aftordablc and hcavil) sub5idiscd thrOuj￿ our mtxcd cconomv businesb model Isiih many projects costing jubt £1 or £2 10 take part.. Youn people tell there is nowher¢ in Lo(Jdon otTcrs >+paccs al￿ projccLS at SULh giM)d valuc. THE ROUNDHOUSE TRUST TRUSTEES, REPORT FOR THE YEAR EIYDED 31ST IVIARCH 2025 Volunteers The Roundhouse rclies he&%'Tly on a community of volunteer5. Thc). a￿ a ￿'Ital part of thc vi5iior 5 beThices Icam Ln5111iiig audi¢n¢¢s have an enjo)'abl¢' visit. Disabilities in the workplace As an ¢mploy¢r undertake a policy nol lo discriminate against anNone. IITe conduct individual risk assessmcnts for every appli¢onL employee or volunteer ivith a disability. This idcntifies any reasonable adjustments thal need to be made. Partnerships and Stakeholder management The Roundhouse liorks iyith i range of partners and nen¥nrks w shatt expcrtis< leaming 2nd knoivled(ye. These include the Creative Jndustries FederatiotL Music Venues Trua and th¢ Conc¢rt Promoters Association (CPA). and Ive have establishcd a Commissionints Ndii'ork of UK VCnULS and fesiti*ls. Across our youth progrnmme N't'vc built pamiLrships ivith 2 Thumber of local patther5 including Bab)'IDn fvligrants Proj¢LL Countcrpoint Art5 and Neiv CilizLns Gateway. Counl me In. SpcaK-crboY and vicfA plus a ivid¢r ncts¥Y)rk of morc than 30 youth and creative organisations. Each )'ear we rec￿11 up to 20 young people to join the Roundhouse Youth Advisory Board (RYAB) Ivho mc¢t monihlv and advise the organisationon all aspects ofouri%'ork frorn capital platmino to artisii¢ programme. ThrL'e young people sit on our foftmal board of tru5te& Reserves Policy As at 31 sl March 2025. the total unrc5irlci￿ re5¢rves Iserc £14.7 million (see note 171. Of this £11.9 Tnillion represenis arnounls invested in fLx¢d assets, £1.3 million has i*¢n designated for specific purpose5. After taking thcsc amounts into considerdtion there remains £1.6 million of frcc reserves. 'rhL Trusiecs have deterniined thai th¥ Roundhousc neLds unF¢iiriCtcd frcc rcsLrvcs lo alloi%' the organisation i mana￿e a range of pot¢nlial 0￿ratiOnal risk5, including fluctuaiino incomL. from commercial activiiie& signifitanÉ LhttnoL'S io voluntary and donalcd in¢ome. and the costs ot-emergencTr building ￿pairs. The rcserves (arget is in e.Ycess ofihe minTmum Icvcl that i1￿U[d be ￿quir¢d foran orderlv iiindintt up of the Charity. The ￿rget for thc Icvcl of free Reserves ib £1.8 million, thc Trusiees Lonsid¢r £1.6 million remains a appropriatc ILVCI of freL Rescrvc5 in light ofthL chdril) s sizc, opcraiions. and thL finan¢ial risks to which il is exposed. lTris ivill be rebuilt ovcr IhL coming yeats bttck up lo tlie £1.8 million tar.treL The Tru¥ie¢s arL' committed that if Free Reseries are further cmded in ihe comintr vear5 that these are rebuili ￿ a priority. ATJY unrestricted reser¥es in ¢xttss of the free reseThes t2rtrct iNill be designaled into the Capital ReneNNa] fund rcpre5CT]ling alnounts sct aside io t￿$￿[¢ onvoing reneival and rcplaccment of ihe building infrastructure. Over the Loming yearb ihL Trustecs i¥ill look to mainiain this r¢sL￿,¢ ii'hich is ai £0.8iO million. Going ConeerD Th¢ Trust¢¢s hai'e assessed The Roundhouse's abilily to continue LS a going concern. They hai'e eonsidered sc￿eral factors ii'hen formiTrtT theirconclusion Is io ii.heiher the use ofthc going ¢onLem basis 55 approprialc ii'hLn prLparin&r th¢sc financial staiL'ments including a ￿Vie1￿ of updaicd fO￿L￿515 and cash flo%v to fvlJich 20?7, llnd a considerarion ol" ke). rtsks. that could n￿all￿rIV atTcet the charity as itrell as thL 5UCCL'SS of mitigllting lactors that have becn impl¢tn¢nteiL Our core unrestricted reserve5 are funded from a combinarion of fvndraisin¢F income and cornn7crcial income. As noted in the reserves polici above. the level of UTJrcslricted rL'sen'es stands at £1.6 million at the end of March 202). Th¢ kL'y risks in our fin￿claI TrM)del are descnTrJed in more dci4il in the Risk Mallagcmeni S¢¢lion (Trn pagc 10. Of particulLV rclevun¢¢ iu going Con￿rn is the risk linked to mainiaining fmancial strength ond sustainabilily. Alongside the e¥LCUtive the T￿￿ceS arc rel'ieiving the financial position closelv on a regular basis. and updaiinrt eXpec￿d future sccnarios babed on the acrnal monthlv results and any changing cytemal faciors. Vc hayc set our above a rei'iciyof The Roundknuse Trnst's finttncial pcrfomiancc and ihe g¢nernl r¢scTr'es posltion. Our planning pro¢Ls%e& including fillancial projection& hai'e into considLration thL currLnt economic climatc and its potential impd¢t on thL Yariou5 sources of incotnc andplanned e.xpenditurc. Ive hav¢ a rcasonablL L'Xpec￿1ioll that IVL havc 4dequale resourcL$ 10 eDnlinuc in op¢rational e.Yisknitt for thtr loreseeable luture. W¥ bclicve that there are no material uncertainties thai call into doubt Th¢ Tntst's ability to coniinue to OPEratc. Accordiool). the aecounts have been prepared on thc b&sis that The Roundhouse Tn￿1 is a going concern. 12 THE ROUNDHOUSE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED31ST MARCH 2025 Trustee duties in relation to Section 172 of the Companies Act The Board oF'frLLskes is aivare of it5 duty under Seciion 172 of thc Compani¢s Act 2006 to act in a thal is considered ro bc in th£ interests of stakeholders ii,hcn promotittg th¢ sts¢¢css of the companv. The Trustees act in accDrd2nce i¥iih thi5 Tcquircm¢nt ttnd in doing so hiic rcgaTd k).. The likclv con.qe uences ofanv decision in the Inn -iemi. Vc hai'¢ in place a rolling five-)'var businebs plan ihai maps out our prioriLies znd ambitions acTOSS our three chariiable guals. The plan includes a robLfll 5eÉ of financial and 0￿rativ￿al Dbjccti¥¢s. Thi5 is a k¢v tool aoainsi ihich i%"e f0Tatinuall)' ￿01]Itor our progress and pcrforTnance. Alongside this. lit hai'e a ¢ompr¢hLnsii'e risk tnanagemcnl pmutaT¥llne. i%hich identifles risks of reaching these goals. On pag¢ 10 of this rewrL you i%'ill find more dctaLls of risk manaoement process and the kej" rssks i%e are activclv Enanaging. The interests of the com anv's e lovce& Our stafl.are the most important part of us achieving our siai¢d gouls. Ive a￿ committed to ensuring everyone ¥vho orks at the Roundhouse undirstands our core purposc and the values that underpin the delTrveTI of OUT objectivc& Their healt￿ safety aud ivellbeing is also poramount and this is ali%'a)'s a key part of all planning processes. fvlor¢ atK>ut our staftengagetnent siniegv is included in the se¢tion IKloiv on page 13(Enga4Fcmcnt iNith ETnplove¢s} l-he need ia fO￿er th¢ com anv .% b￿SIneSS relationshi iths lierk custOTn¢rs and oiher.s. Core lo thc Roundhouse's business modcl i5 the strengih of our partncrships. IV¢ ivork ivith a ii'ide r￿4Ve ofpeople and oioanisulions frnm knth an operaiing and funding p¢rspectike. To ensurL. thac li'e are consistcnt iviih our approach have a policies and 0￿ratIng proccdures in platt and aliiajs strive to folloiv bcsi practice. We cl)oose our supplicrs caT¢fully and ¢nsure ihat thev collatM)rate ii'ith us across all ares including thcir approach to diversity and inclusion and susttinr4biliry'. Thc im act of the com erali( on Ihe community and the enkimnmcnt. Our >'outh and artiSti¢ pro¢yrammes are centred on the Camdcn London community. We i%ork Closely ivith all the local community including Camdcn Council and invol¥e them ¥&ith man) of our important decisions through Tegular meetings and communicalions. Environm¢ntallv are part olthe local adlisory nroups and ilork across a range of a￿a5 10 improye our impaci on th¢ ¢nviroDmeTht. Nlore on our ke%. sustainability goals can be found on pages 14-15. The desirabili nf the coET] ' maiThiainin utation for hitvh SLThdards nt busincss conduct This is paramount lo the success of our stratetrry. Over the la￿ 4 year& Ivc hak¢ ii'orked hard to cmbed our co 'ulucs through a rangL of initiatives. These bUPWrtcd through a ivide range olorganibational poliLi¢5 that Lll5uie that they are applied on a day-ll￿daY b251& The need to ad faiTI ￿tileen members ofthe com Evervonc including all T(usteL)s go throuJTh a rigorous induction procc55. We maintain a rc¢ord of other ¢ompanie& charili¢s and businesses that our Board and 5cnior Jnanagement team arc involi'cd ivith- this is forn)ally revie1￿ed on an annual basis_ Conflict5 of inECTC5t are d¢claYed at the start ol'ail board tneelings. Engagement with Employees As a creativ¢ organisation it is our people ivkn are th¢ engine of what we Ik) ll￿] ivhai achici'c. As part ol'our comtnittnenl lo puttin? our Fwplc at the forefront ive iniroduccd a n¢iv rvle io the ornanisation in 2024 People & cul￿re Director. This role has thc rcmit to ￿1p >hap¢ ihe culture. inclusion aRd oicrall effectiveness o*"the ortsanisalion. Viih that in min1ainabilitY polic!. and action plan ro reduce our carbon foDlprint (ineludintr scope J)- Ve are also committed to fullv implemcntin thc Thcatre Grccn Book and are e.xploring hol￿ best enttaoe ith artists and perforniers io delifver this. Tlke Roundhouse has also cotnmilted to the fouT follouryng sustsinable development goals; SDG 4= Qualit)- Fducalion- The Roundhouse seeks io educatL its stair. pcrform¢rs, audi¢n¢¢s and )'oung people on climat£ change and 5U5tainable perfomiance. SDG I l.. Sustainable Cities 2nd CoTllrnUThities The Roundhouse is involved in its communily, iiorking in partnership to create a hea]thier znd greener Camden. SDG 12.. Responsible Consumption ProductiOT] .4s a ￿rr￿Mi2￿ce venu¢. the Roundhouse aims to hous¢ 8usiainJble productions and i%'ork iNith supplicrs lo grcen its supply chain. SDG 13-. ClimaiL Actiott- The Roundhouse is ¢omTnilled to en5urill4T a just transition lo net zeTO Lmissions by 2030 in part by si%'iiching to reneii'ablc solar cnLrgy. To ttchieye the above her£ arc 50rnc of the thin￿￿ are i¥orking on throuoJ the Green team and our SLratcgic Susthinability committee. We haye collaled many ideas and are ¢uFKntlN i￿p1¢m¢￿ting or havc ulrcady implcnKntcd the folloiving.: REducin(J cncigv consumption by 5eiiing regime5 across ihe site. moving MOR to LED lighiinu l j¢yhiitig. ell&￿¢1￿8 solur pane15 are maintained properl%. to be e￿iCIen1. ll1￿ censored Edu¢atinty People - Ivith ￿r¢¢I} rid¥rs. susrainabilitv ouides Ol￿en io touring parties. carbon literacN trainfutw ii"ecklY googlL tips ofredu¢ing en¢rg) and pr01ontrnl￿1F thc lifc of equipmcnL sIgn￿￿e around ihe buildin(r as thEII ￿ tourints partiLS adN'É5Ld lo bring T¢usabl¢ tKittles. Proteciing the en%'ironment- Trialshai'e becn compleied on reustsbl¢ Cups: the pllln is to remts￿e all single use plastics at thc end of SLpwrnbcr. Il'e hai'e changed over 10 First Ilile increa5inu our rec!"clin o cotJtinu¢ lo increasL. this amounL We eonlinu¢ to i¥'ork loivar(Is our L1rgct of carbon nct zcro by 2030 and arc planning the total ￿Mov21 of gas from site in 2029120JO. 15 THE ROUNDHOUSE TRUST TRUSTEES, REPORT FOR THE YEARENDED31ST MARCH 2025 Structure, Governance and Management Governing do¢umenl ond consiilulion Thg guveming doc¢2mLni ol- thL ehariiy ¢omprises its Mcmorandum and Anicl¥s ot. Asso¢ialion. Th¢ Compallv is li]nited by guardnlee noL having ashare capithl. and possessesa liccn¢¥ i&sued bj the Department ofTrade perniitiing the orni￿lOn of ihe i%'ord :'limiied" from its ntsme. Generul Governftmce including frustee r¥cruElment. iiiduclion undirdinlno Strong gov¢man¢c and managLmcnl 41re critical to our SUCCL'SS and reputation. Ive haie a Board of Trnstees that tukes overall responsibility, for th¢ Charity and our i%ork. It is rcwnsible for ensuTin(* ate effectively and prop¢rls run ond that vvc meet our Souls as a Charity. As part of our continuous lellrning prnccss. periodically ive intemally revieiy b)ard perfonnance againsi th¢ criteria set out in thc codc. The Board ap￿1￿15 TnL5tLES to bLrve on the People CommittLL. Ivhose rolL it is to keLP undcr rcvieiv the structure. size and composiltun of the Board. A5 vacancies arise. wieniial candidatcs ar¢ approa£hcd on an individual. targLted basis. Ensuring Board diversit) is a key con5idcration iYheTh makinu ihttse ap￿Intrt￿nls. For some p)silion& illcluding Chair. Ive appoint search agents and advertise iiidcly. Tn￿1¢¢5 are appoiT]ttd for an initial period of three years and typically cali Serve for a further three years b¢>'ond Ihis. Ni ¢K%. Trust¢¢.8 are inductLd into the i¥Drkin&s or-rhe Roundhou5eTrust i'la various aLtiN'ilies includinfJ briefings from the ChaimiiVL Chi¢f E¥¢¢utivc and oihcr staff us appropriate: a Tru$￿t lllductlDn Puck and tour of the Roundhouse site and otri¢¢s. Ongoing trainTng 15 provided to Tnts(ees L8 required. In anticipation a numlx'r olBoard members Jttiring or resignino at the slart of the l&%t financial year we conducted a revieii. olthc skills ￿"¢ n¢ed¢d at Board levcl. Thi5 infomied the recruitmentprocess t"orthe neiv members. Because ofihe chanres ii'c poslponLd the plttnn¢d Board PLrfoTmancc revieiv- this Ivill noiv take place in the latter part of 202) onLe thi5 nLw gmup has SLiIILd. A full list of IKJard mLmb¢rs can ix. found on p￿e 18. lThis includLS voun£ TN&tees ivho provide impDrtant Trloice forour key sthholder gmup on all matters. Four board m¢mbers of the Board have s¢Th¢d long¢r than 6 )cars. Marcus Davey As on the Board by virtue of his position Ls Chief E¥¢¢utise OtFiccr. Caspar Nornjan repr¢sents th¢ Norman Trust ivcre founders of the Ruun(ihouse Tru￿ 2nd thL underlying kasc for thc RoundhousL' sile. In additiorn Ella BcnnctL a14R spccialist and John%on Etiennc an artist iyiih ividL experience of iTrDrking with young pcopl¢ have had ihcir temis c.xtendL.d. A Charity goi'cn)ance code. endorsed bv the Charity Cornrnis5£0n and (Ahet industs). bodie& iv&5 publishcd in 2020. 11-ith our Trustecs li'e have ensU￿d ive are substantia]l} eornpliant ivi¢h the Lode. The code ￿kS chatitics to"'appl) or c.xplain"'. The folloiving are areas ivlKre ive hai'e not applied the codc'5 provision5 and ivh) have iaken thai d¢cision: Ai the )-ear-end Thc Chartty had 17 servin¢w Tn￿lee& a I￿L'r Board size than the 12 recommended b). Ihc codL. The numb¢r of board membcrs 15 imw4Cted b> Facror5: Youno Trustces As highljiyhted pa￿t 18. each )ear the Roundhouse appoints at le￿ ni"0 or Ihree Tnlslces i%ho are undcr thc age of JO. They norniallv %cr%'e for a period of one year and act as a ke). VOICL for vounlt PLY)ple ai board l¢i'el on llll maitcrs. haN'e appointed ihree Tr"oung Trustees 11] November of 20?4. Br¢'adih nf aclivitv A kei strength for the Roundhou5c is Ihc versatility of its op¢rating model which is underpinned by a varicty of aclivitics. In an ever-changing cnYin)mncnu li is essentral that hav¢ th¢ right mi.x of skills across ihe Trys¢ees group. ivider rJnge of expcrtise and e¥r￿rience to draiv on is Ltwbled b> a larg¢r Board. During 2D24f2i. a numb¢r of Tntstce positions cam¢ to the end ol'their lertA Js part of thL' r¢cruitment of ncw Trublees: ts deLLiled exLfLi¥e ivas caryi¢d out to r¢vieiv thc skills requirement versus our upLoming 3 year busin¢ss plan and thib informLd the recruitment ¢rileTi& On p￿(r¢ 18 jou iTrill see a note CO￿ering the recent ap￿in￿llents and resignaiioni. DUL to thL TLcruitrnL'nt process. deiailld above. the fornul rcviLW of thL board perfornwi￿. has IxLn dL.la>'Ld until latcr in 2025. A board ai¥av daj lakes place annuallv to consider arca5 of change and io revieTr4 ￿rfOr￿￿￿cc against our fil'e- ycllr ttmbilion. E¥t¢rnal rcYiL¥i every three )ears Ls recommended in thc code will be conside]Yd in ?026 once the current of cohort of Trnst¢L"s hai"0 had timc to cmlx"d. 16 THE ROUNDHOUSE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31sr MARCH 2025 DiNersiÉv consideration sils a( Ihe heart of all Roundhouse activiTh' and is aliN?ys cmbcddcd llnd supported b}, our Board ol. Trustees. Il'e have considerablj divcrsificd our Board oNei the last &ear anLI hal'e noii, met the gendLr parity and globaE majority. targets staled in our business plan. Organisolional slruclure The Board of Trusiees meets forniallw 4 limes a l'ear io revieii all Ihe ac11￿.1t1c5 of th¢ charits and to pros ide straterljc dircction and ￿uldancC to thc Executi&e tearn. As a Trustec. the Chief E¥ecufi%'e attends all Board meetings along 'ith the other members of the Executive team. In addition to the main Board oFTrwccs. thcrc arc Board committces ￿hiCh H￿rk iviih th¢ r.Ye¢uiitr¢ team to reiieiv and provide cxpcrtisL and auidance on specifLe are&$ of the ehariTr's acii%ities. These comprise th¥ Business, Audit nd Risk Committee. thL PeoplL Committee (including duties previously coTrered b) the Norninations Comtntttee). the Inve&imeni CommitEee and the Ethics Committee. Thc Chaim)an of the Board and (he ChiefExecutii'e meet andlor s￿ak rcgularl}' and thc Chairman of the Business. Audit and Risk Committee has rL'gular communication ivith the Financ¢ & Busin¢55 P¢rfomJn¢¢ Dir¢¢tor. Thc Board and ExecutiTr¢ team Ivork knL)¢th¢r io ¢sthblish and d¢v¢lop thL charity's ovcrnrching objectives and straiegic direction. Rcspon5ibility for the day to da). operntions of The Roundhouse Trvsi has beLn delegated by the Board to the Chief Executive. iyho. K'iih the E.xecutive ￿orkS M'ithin thc stralc. ic fratne%i'orL operational parameters anLI control ¢n￿lronment established by the Board. The Dircclors, Gioup comprises the oiganisation'5 Chief Exccutive & Artl51ir Director. Opeiations & Estates Director. Partnerships 2nd lrnpact Direclor. Finance & Business Perfomance Director. People & Cultuye Director and Commcrcial Director. This group meets al least monthly, receTves feedbick from all oiher orgaT]isational meetings and responds directlv to the Board. Thtre is a monthly sthtT mLeling to dis5erninale importani cornp2nv inforrnation ttTRd receive commenis and feedback from siatT. Subsidiaries -l-hL financial results of the trading subsidiaries are CO￿OI1d&ted into ihose of the Roundhouse Trust in these staiemetits. Rejaiedpfjrty￿ tsntl cHp*rolioii wilh rfher organisutions Anv conncclion behi"c¢n a Trust¢¢ or s¢nior mjnager of the elwity i¥iih a contractor. consultanL production cumpanv. ¢onira¢ied )rtisL perlornier or e.¥hibiwr must be disclo￿d (o the full Board of the Tn￿leeS in the 5atne iiay as any othcr contracwal relationship ivith a rel&tL.d panv. No* 21 details the related party Irans4Ltions reported in thc )ear. IVL i%ould like to highlight here the folloiviftu= The Nornian Trust holds an cndoivmcnt for thc bcncfit of thc Roundhous¢. Caspar Nom)an is a Tn]5tce ot both The Roundhousc Trust and Thr Ni orman TrusL Furth¢r dethil> of the relaiionship betth'eLn thcsc Thvo cntitiLs are Presented in Note 21 to ihe account& Yone OF our Trustees receive remuneralion or other benefits Irom thcTf i%TJrk 35 Trustee5. Allarcus Davey. Ivho is a Trustee, receives Temuneration for his role as Chief Executive Artistic DirecLor. In addition to ihis Johnson Eiienne receI￿ed remuneraiion for his i%ork as a Youih Artistic Frcelancc Tutor alongsid¢ Demi Asriel AdesoN'e for music liccns?ng and Kcn}a Jamcs lor design: lurthcr dclails are proi'ided in Nlot¢ I l io th¢ accounts. Pdv PolievlorEiecuiive Teu The Board has deleuated the responsibilit), ak)nts i%'ith the neill!, lomied Peoplc's Committec. for deciding on lh¢ sa12r> of the Chief Executii'c and his Icadershtp team lthc Exccutise ttarnl to th¢ Chair and subsei of Trnstccs. Outsidc ot the ExcGutive t¢4m a thmmitt¢e compTising the Execulive direLtors are responsible for setting Pa￿ across th¢ organi%aiion. 17 THE ROUNDHOUSE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31ST MARCH 2025 Reference and Administrative Details Charity number: Company nu￿bL"r.. Regiblered o￿lee. 1071487 OJi72184 Th¢ Roundhou5c. Chalk Farni Road London NWI 8EII The Roundhouse Trnst is incorporated and domicxled in the UK. ThL charitv Jlso makes it￿11"knO￿l￿ ￿ Thc Roundhouse. TrustCL5 ofThe Roundhov$e Trust The folloiving ha%r becn TTUStees ihroughout thc period to the dat of this re￿r( unless otheThvise slated. S Tun)cr- Chaim)an N Allott (resigned 27 Novcmtrtr ?024) N BLllan-IVhifc (rL'5igned 27 November 20?4) E Bcnnett L Clarke I I Davey- Chief ExeculiNe & Artistic DiFcclor S Dzinore%a J FreLman E Johnson F Kab"sai (appointcd 12 Fcbtw 2025> R A Lull" N Mann (appointed 12 February 2025) K O'Flarc (appointed 12 Feb￿ary 2025) K O ,￿[arf0 R Naik (rL'signLd 27 NovLmber 2024) C J Yorma L IV}ndh4m year Éhe Roundhousc apwints at least Trustecs ivho are under 2?. The) serve for a period of one year and act ￿ a key NvieL for young peopl¢ at Ix>Jrd lev¢1 on all matters. Ovcr this PLriod ihc youn￿ TruslLCS Iierc: Kenva Juma (resione(E 27 November ?0?4) Ra'eesah (resigned 27 NloN'ember 20241 Demi Adesoye (resigned 27 November 2024) Roshan Singh (appointed 27 November 20?4) Atbtonia Ka7m¢iLr (appointcd 27 No%cmbLr ?0?4) i olliquL k&lunTOL iJppoinied 27 No3'¢mb¢r 20241 Compan) 5ccrclaT)' Ph51ip Ivatkinb IKey man&￿ement personnel for The Roundhowse Trust and it5 subsidiary The Roundhnu%e Trust Fx¢culii'c T¢aTn at th¢ daic ihc rc roved rtiyasa Marctss Davey - Chief Ex¢¢utiY¢ & Artistic Director Sara Bakhatv - CommLfc121 Direcior (appoinied 18 June 202)) Asnandd Cowlc> PcoplL & Culiurg Director (appointed l Novemb￿ 2L?41 MichaLla Grcene- Pannerships and Impaci Director Michacl Dixon- Finance and Business Pcrtormancc Director Roivan Kii¢hing- Venue Dircctor (resitrncd ) l Januarv 202)) Charlie W]jera￿a- Cornmercia] Director (resI￿ned io April 2025) Liz IVainriohi- Direcior ofoperniions and Esiaies (19 i%lav 202)) F.XLCUtivc te&￿Ill fnr Roundhou￿ Tradin Limiied at thL thte the Te mved fvlarcus Davey - Dircctor Cabyar Norman- DI￿¢1￿( lirhael Dixon- Dire¢lor 18 THE ROUNDHOUSE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31ST MARCH 2025 Our tldiisor5 AtsdKiors Croiie U_K_ LLP 55 Ludgaie Hill, London EC4¥IJ 7Jl BaAk¥rs Barcla}'s Bank Soho SquarL Branch 27 Soho Square London IVID 3QR Inveslm*ntJVlunugers Wavcrton Investsnent ￿lan￿￿e￿Ent Lilnited 21 St James's Square London. SWIY4HB Solicilo Fieldf15hcr RivLrbank Huuse ? Sivan Lane Londo EC4R iTT 19 THE ROUNDHOUSE TRUST TRUSTEES, REPORT FOR THE YEAR EIYDED 31ST MARCH 2025 Trustees, responsibilities in relation to the financial statements 'rhe I ruslees Iii,hts are a150 the directors ofThe Roundhouse Trust for thc purp)¥e5 ofcompany lai1} are rLSponsiblc ror prLparin47 the Tntstees, Report and the f￿AnCIal 5tatemenls in accordance ivith applicable lai%. UnitLd Kingdom GeneTally AcccptLd Accounting Sthndards ILinit¢d Kin-dom Accounting Standards). Compan> law requires thc Tru*ee5 to prepare fmancial siatemenls for each financial IvJr ￿h]Ch givc a irue and fair Yieiv of the state of affairs of the choriiable compan) and group and of the incoming resourc¢s ttnd appli¢ation DI. re4Durce& including the income and e.XPEnditurL". of thc charitabk ¢ornpthny and the ￿[oUp for that periDd. In prLparing these financial state¥ncnts thc Tru5teiS aro required to= Sel¢ct suitablc accounting policies and then apply theffl consiStcntly- Obsern'e thc mcthods and principles the Charities SORP- Make judg¢m¢nts and estimates that arc rc&sonablc and prudent. Stalc i¥h¢th¢rapplicablc UK Accounting standarts have folk)iNt(L subjcet to any material dcpartures disclosLd and e%plttinLd in thL r]nart¢ial statcmLnts- Prepare the financial sthL'ments on the going ¥on¢¢m basis unleis It is inapproprith io PJf5ume that ihc charitablc company ivill continue in businLSS. The Tn￿lee5 are responsible for keeping proper aLcountin¢F records that disclobe iviih reasonable a¢¢uracy dt any tirn¢ the financial positioTh of ihc charituble COTnpaTh}' and group and enable them io CASU￿. th¢ finJD¢ial statcmcnts compl). Ikith IhL Cornpanits Act 2006. Thel are also responsible for 52fegutsrding the a55ets of the charitablc company and gmup und hence for taking rcllsonable 51cps for the preverÉlion and deiectton of fTaud and other irregularitic Thc Tntstccs are responsible for the matntcnancc and integrity of the corporate and financial infotTnation included on ihe chaFitablL companv s iieb5'itL. Ltr(Jislation in thc United Kingdom goi'ernints the preparaiion and dissL'minalion of finanLial slatL'ments ma¥ diiTer from legisldtivn rn othLr jurisdictions. Statement as to the disclosure to our auditors In so far as ive are aivare.. thLre is no r¢l¢vant audit Tnfomiation. bcing inforniat￿n need￿ by ihe audstor in connection ii'ith prLpaTing Ihoir r¥pO￿ olivhich thL group's audiior is unai%'are: ond the TrusleL& hal'ing madL cnqLbific5 01. fLlloiv dircLtor5 and th¢ gfOUP'S auditor that ihL'5' OUgThl lo ha¥L indii'idually taken, hayc cach takcn all slep5 Ihat helshe 15 obliged to ￿ke &s a dirccior in order io mak¢ themselves aivare ol" any ￿levan1 audit information and to establish that the aLsditor is li￿are of that infomiation. ThL rL'POrt and ae¢ount% including the 5trdteoic report approi'ed bv the Bodrdot T¥u51¢e5 2nd si￿ned on their behalf bv: layeus Dav¢J' (Trusrtcel Dale 20 THE ROUNDHOUSE TRUST INDEPENDENT AUDITOR'S REPORT AS AT 31ST MARCH 2025 Independent Auditor's Report to the Members of The Roundhouse Trust Opinion Ive have audiEed ihe linancial 5t3ttmcnlS Qt The Roundhouse Trusi l-the Lhartiable company'} and its subsidiaries l-thc group") for the Y¢￿ cnded 31 Ni 1or¢h 202) i%hi¢h Lomprise the Consolidatcd St2temetit of Fillancial 2Ictll'Ttie5, th¢ Group and ChaTits. Balan¢¢ She¢is, the Cons01id3Éed Cash Floii- Statement and notes to the f￿ancial siai¢m¢nts. sneludinff SI￿nIficant accounting poliiies. Thc financial reporting frameil'ork thai has been applied in their pc¢p2r&iion is Qpplicable lai¥ and Uniicd Kingdom .4c¢ountiog Standards, includsTh8 FinaThcial Rcportin£ Standard 102 The Financial Reportitw Standard applic2ble -doEll Genetallj Accepied tlccouniinD PraLiice). in the UK und Republic of Iroland (Unkied Kill" IT) our opinion the finanLial sthtemenis= ￿l￿e a ond Fair i'ieiv of the staic of the group's a￿d the charitabk company's altair5 ￿ at 31 Mi arch 2025 and ol- the gioup's incoming resources and applicalion of re50urcc& includill￿ its income and expenditure for thc year then ended. havc been properl!. prepared in aLcordanee Niith United Kittgdom Generally Accepied Accounting Practice- and have been prepared in ￿cordanC¢ iviih th¢ requ1￿ments of the Comptsnies Aci 2(Kl6. Bu.sis for opinio e ¢ondu¢i¢d our audit in accordance %vith International SLindards on Audiling Iuk) IISAS (UK)) and applicable la%v. Our rebponsibilities under those standards are further describcd in thc Audilor's rc5ponsibilities for the audiE of the flnancial Statemenls 5¢Ction (Ff our rcpotL Ive ate independenl ol(he group in accoTdance ivith ihe ethiclll requirerneThtsihat dre relevant to our audit of the financiul statements in the L'.L includiniF the FRC"s Ethical Sknndard. and ii'c have fultillcd our other ethical responsibilitics in accordance ivith these ￿quIreMents. Ive beliei'e that thc audit ci'idencc i%¢ h&ve obtained is suffictent and appropriate to provide 2 basis for our opinion. C.'Dnclusion5 relating to going cort¢e In auditing the financial staiements, hai'c cortcluded ihat the iDJSiee's use olthe going ¢onc¢rn basis ofaccounting in the pr¥parntion ofrhc finaniial sth￿ments is appropriate. Based on ihe iiork i￿e hai'e perfoTme¢L haTre Thoi identified an) Ma￿rial uncertainries rclatinLI to cv¢nts or conditions that, indii'iduallv or LolleLtivel}'. may cast signiticant doubt on thc charitabl¢ company's abTlitv ¢0 conlinuL as & ooiThg concern for period of at least tyNcl&'c months from ivhcn the fuwi¢ial statements are authorised for Issue. OUT r¥sponsibiliti¢s ond the rewnsibilitiesofthe trustees ivith re4)ect lo goiTJg concern arc de5cribcd th¢ rel¥v￿l sections of Ihi5 repon. Other information The trusttets ate responsible For thc other information contained i%ithin the annual report. The other inforniation comprises the illfomialion included in the annual re￿[¢ other than the fimancial statements and our auditor s report thcrcon. Our opinion on thc financial stat¢menls does noi cover other inforn)ation and. exccpt to the e.¥tent other¥*isL ¢xpliciily ststL.d in our r¢porL i%'e do not express an). fomi olas5urance conclusion ihcrcon. Our TL'sponsibiliTr is ro read the othei infomiation and, in doing so. consider i*hethcr the other infomialion is m21erially inconiislent i¥ith the Iittartcial sthtknmvnts or our knoi%ledge obtsÈned in the audit or otheThvise appeats to be materiallv ttJjSSt￿ted. Ir il'e identify such matcrilll incon5iStencies or apparent maierial misstatements. are r¢qut￿a kn deternjine Ivhether this gives rise io a rnarerial misstatemcnt in the financial staiements thems¢li'es. If. b￿ed on the iiork iKe hai.e pcrformcd. ii'c c¢)ncludc that thcff is a ma*rial missthtL*nent of this other 1nfom)atio￿ i%e are requi￿d io report that fact. Ve haN'¢ nothing to r¢port in this r¢gard. Opiniony on other matlcr5 prescribed b) the CornpJnies.4et 2006 lry our opinion 6￿ed on the iiork undertaken in Ihe course of our audit thc intOTJnation giTr¢n in the trustees report: i*hiLh includes the dircctors rcport and the Strategic report prepared for the purp)ses of company lJii.. for the fjnancial vcar lor iyhich thc tinan¢ial staiemenis are prepared is consisttent ivith th¢ financial stutemenls: and the straiertic report and the directors rcwrt included iiithin the Irusi¢cs' report httvc bLen prepated in accordance iiith appli¥able legal rcquirernents. 21 THE ROUNDHOUSE TRUST INDEPENDENT AUDrroR'S REPORT AS AT 31ST MARCH 2025 IatteTS OD ￿.b[ch Trve are requlred to report by t￿CeptIon In light of the knoi*ledtse and understandin. ofthe charitsblc cornpany and cni'lronment obillillcd in the CDuf5C Qt ihc audit, ll'e hai'e nol iolentified maierial rnibstalcments in the strategic report orllie direciors, reFx>ri included iliihin the irustLes" W¢ hav¢ noihing to rcport in r¢S￿¢t of the folloiving nlattcrs in Telalion to iyhich the Companics Act 2006 rcquircs us to report 10 >'ou if, in our opinion.. adequate and proper aecouniino ￿COrdS have Tjot been kept= or the financial statemLnts are not in agreement i%'ith ihe accounlino records and teturn& or certain disclosures of tnJstee$' remuncrntion sp¢¢ified by laiv are Dot made: or ie haye not rettived all the inforniation aThl explanations require for Dur audit. Rcsponsibilitics oftrustecs AS explainLd morc full) in the twstee5' responsibilities statement (sct out on page ?01 thL trustees Iivho arL also thL. dirLCtors of thc ¢hariMbl¢ company for ih¢ purp)s¢s of ¢ompaTJ}' law) are responsible for the prcpara(ion ofihe financial sthiements and for being satisfied that they give a true and lair Yieiv. and for such internal control as the trustees deterniine is necessarv to enable the prcparttiion of financial siatcments that aw free from material misstat¢menL ivhethtr due lo fraud or emr. In p￿ParIn￿ ihc finllnciul stalelllLnt thL trustC¢s are rcsponsible for ass¢ssIn￿ the charilable compan) s ability lo conlinu¢ as J goin" Cotntlli55j0n rcnulatjotk5 G¥'nera5 Data Protection Regulatioos Anti-Fraud, bribery. and Comipiion legislaiion EIL"alth and safety legislation Emplnyrnerlt l.egislution Saf¢guarding l¢gislaiion Audiiino siandards limit the requir¢d audit proccdurcs io ideniity non-compliance with ih¢se laiis and r planned and p¢rfomJed our audit in accordance %￿lIh audltinry standards. For eiample. the further remoled non-compliance i￿1th laivs and reDulatIon￿ linegularitiesl is from the e%'LTlt% and transactions reflected in the financial statements. the less liLeli' the inherentlv limitcd procedures required b audiiing standards iiould Tdentify. IL In addition. as %*ith 2nv audi¢ there remained a hioher risk of non-deteclion of iTTegularitie& as these ma>. inFoli'e collusion. forgcry, intcn1ional omission& misrcpreientations. or the overridL of intemu] Lontrols. arc not rcsponsible for preventing t￿n-cOMplI)n¢t and cannot be expected to (ktect non-compliance i¥'ith all laivs and regulation5. L5e of our report This report is made solely to the charitthle compan) s me￿be0 as a l)odN'. in accordanc£ Chapter J of Part 16 of the Compiwi¢b Ael 20Q6. Our audit iiork has been undeTthken so that fftight stat¢ lo the ch&ritablc cownpanN's mcmbeTS thos¢ matters H'e arc required to staiL to them in an alldiior s ￿pOrt and for no oiher purpos¢. To th¢ fullest exlentpemiill¢d by laiv. e do not aLcept or a55ume rL'sponsibilittr to an}'one other than ihL' Ch￿l￿ble company andthL charitable company s mL'mbers a5 a body and the charIl￿b]e cumpaTLi s mem￿r$ a5 a body, for our 3udil ivorL for this repo￿ or for the opinions ive h&%'e I"orned. Javne Eioil Senior Statutory Auditor ror and on behalf of Crou"e U.K. LLP Staluiory Auditor London Dale: 3 November 2025 23 ROUNDHOUSE TRUST CONSOLIDATED STATEIMENT OF FINANCIAL ACTtvrriES AS AT 31ST MARCH 2025 L'nrtstri¢lcd Fund5 Rrstrirftd PrDEr8rnme FUM £000 Restrirltd Capital Fttxds £0 EndoThThCat Funds 'IDtsI Total Funds 2024 2025 £000 £000 £000 £000 In¢ome Donat10115 1,083 1.083 1215 Inrome from ch41 rii#ble activity 7574 ?6? 210 7,528 lutome fro attii'itie5: CoThmercial trading activities othtr trAding 7.068 7.068 6,146 InYe5tmcJit inconrE 405 16,151 262 210 16,623 li,2Y5 Eipenditure Cost of rat5inu funds 4.36) 4,403 4,787 Expenditure activitic5 Roundhouse Cre2tii'¢ Progtamtne lor YDung PLoplL RoundhoLISL Pri>ductiDns m￿le HiTt5 m￿nth1n]ng Building OD ¢hari¢ablt 4Jj9 4.114 2.99) 4,8?1 4.114 4,22? 2,635 improving the lJ47 6)) 2.002 1,817 13.oli 267 655 13.93? 11.405 Toliil tJpenditur 17?78 262 40 18,33) lQ192 Operatlllg 5urplu51ldeficitl (12271 1445) 401 (1,7121 18971 GJiJLI{Los$l OA inve.%tmtnls 14 L et intome11￿pellditUrcI 11.227) (44)) 171 11,2011 83 -rriin5fer bttwten f#nds 17 318 lio} 1971 Piet movement in funds 74 11.iOI) 83 Retoncili41tifin nf Tots] flln￿ brou,,ht foThiwd li.646 18.147 6.919 40.638 Total funds carfted forTrard 17 14.731 17,491 6,993 39,221 40,722 All transaLtigns ar¢ denw¢d Irom continuing aclks'itics. All tLfOgJised gain5 Iow5 UTC inclth in thL sLatemLnt of fiTwKial actlVIti¢s. "rhe notL's on pagL'$ 27-43 fom) partof these fina￿Lia7 s1atcrnLnts. 24 THE ROUNDHOUSE TRUST GROUP AND CHARITY BALANCE SHEETS AS AT 31ST MARCH 202) 2025 Group 2025 Ch&rits' £000 2024 Group £000 2024 Cbaritv £DOQ FI.XED.4SSETS IntanEible fixLd ￿se[S Tangiblc r?Yid asSCES Tnlesiments 12 13 J4 154 99.?3 j 6.993 198 30.076 6.919 198 30.0?6 6,919 ?9.)3) 6.993 TotAi filed assets 36.j8? 36.382 i7.143 CLRRENT ASSETS Stl￿k Trdde and other dcbtors C¥L%h at bank and in Iwod 86 97 6.712 i94 4,898 3.365 6.776 7,3 17 ToiAI Current gwts 7J06 10.684 8263 CrEditor5= Atnoullls fallinE due within one Trear 16 16.i811 14.4671 (7.10) 14.6UI NET CLRRENT ASSETS 3.)79 3.)79 TOT.4L .4SSETS LESS CL.RRE.ST LL.IBILITIES 39.2?] 39,?? 40.7?? TOTklL NET,I&SE'rs 39,221 39221 40,722 40.722 Fu￿Ds A)D R&gERI'ES EndoiiTheni tunds RL5triLtL¥] incomc fjJT￿S R¢51riet¢d copitaj titt)ds UnrL51TTcltd funds 17 17 17 17 6.993 6.99J 6.919 10 18.147 li.646 6,919 10 18.147 li.646 17,491 14.7)7 17.491 14.7)7 TOTIIL FIryDS.4ND RESER VES 39,221 39321 40,722 40,722 lTre noles on pages 27-43 form partof these fiNncial S￿eMents. aDc al statem¢nL% led 2th¢)rised f*r issue bs. the Buard of Tnt*ec% and signed on thcir behaifb5': lar¢us D4i¢v (TruML'el 7-(V)J6 fizr Company Registration No.. 03572184 2) THE ROUNDHOUSE TRUST NOTES TO THE FINANCIAL STATEIllEKrs FOR THE YEAR ENDED 31ST MARCH 202) iote5 2025 £000 (2201 2024 £000 496 )et taslt provided by op¢r4ting 4ctibllSes Cksh floyts from in¥tSting #tttVA*ios IniLr¢si In¢omL PuFchasE of Mngible & ￿tangIble fLxed a55ets Vithdrdilllls and InvL￿trne￿ts fe 280 {8841 283 256 11.377) 287 i et Cash ll5ed in investing Activiti {321) (8311 Cash now5 from fJnaJcing iYctiYities Cash outtloiv frarn repavmeni of borroiwn85 itt C115h tss¢d bv finglltinK xtliiitios ChaDge in cash alld tash equiTr#lellts ill the repfjrtinR period {i411 {3381 C#5h ¢Ash equiv*l¢nts #i th¢ i￿innin% oftht reporliThg )ear 7,317 7.6)5 Toul tash amd ti?sh ¢quivaltnts al the end uf tbe reportin% year 6.776 7J17 202) £000 2024 £000 A. Recuutiliation of net moTrement in fuDd5 frorn OPQTdltits% xctivilics Net income for the ftPDftin2 period s reported tht 51attmenl of financial activilieg 83 Add back depreciation chwge IGainllLDSS on invcstmLnis Incom¥ shoi&n ij Inve￿ing a¢tJviu¢s G2inliLo&sl Dn Dispo>il of Fi¥Ed A55ets {In¢reaseVDe¢￿as¢ in siock (Increaselltkcrea5e in debtors Increa5aiDecrL'asel in ClLditors 1.58) 19801 {40)) 14161 10 112) (6171 L Qt t￿￿ proiided by 0￿rating *ttivilie$ 1220) 496 g. Analysis Df t&sh And ca5b tquiijltnts Cash in hand 6.776 7a17 Total C4I5h and cayh equhvalents 776 7Jl7 26 THE ROUNDHOUSE TRUST NOTES TO THE FINANCIAL STATEMENrs FOR THE YEAR ENDED 31ST MARCH 202) ACCOL'.NTI.NC POLICIES Basts ofprnp#ration The financial staicmLnts have betn PrepaT￿ IEJ ￿L(}rd2nec iiith Accouniing and Rcp()rting bj Chariu¢s." StsiLment oi Ricomm¢ndid Practice appliuble to chaTiiies preparing th¢ir aCco￿ts in arcordan¢e il'ith Finitncial Reporting SffiT￿ard$ applicable in the Uk and Repablic of Ireland IFRS IQ:1 ¢tTcciiTr¢ l January ?0191- IChartN. SORP IfRSlO!}i. th¢ fir*an¢tal R¢porting Sthnthrd applicable in the L'k and Republic of Ireland (FRS 10?) and Ihe CompJnies Act ?006. -¥he charity meeis the deliniiioTh ot a public benefii entlli under FRS 10? AssetsaThA liabilatie5 are iniiially reeoqnjsedathistorical Cost or [Tat￿c1jOll I'alue (￿1¢55 othcnN75C St￿Cd in thc rel￿?￿1 accountin poljiy norc5 Prepargtion of the ae¢oyttts on a gotmg conrtrll basis Having ￿￿LS$ed the chaTiN'S fynancid p05iiioL its plans forthe totesceable fupjre. the Iisk5 to ￿'hICh it 15exposed and the detailed cth tor¢cJsts for o ￿'D(lI of ai l¢ast 12 months from ihL' ddtc of biÈtiing. thi TnLStees ar¢ ￿11$￿￿3 that it apptvpnatt to prepare the financial stat¢Tnents on igoing concern trKLSiS. Le%lll Ststus oftbt Trust 'rhL Roundhou5c TrL￿[ (Lharity Number 1071487, Compan>. liuinber 035721841 is a Lompan) limited by uaroniee registered in En8land and Ivales and Ills. no share ctpithl. In the event of Ihe tI￿lty bejng i%uund up, the liability in respect ofthc guarani¢Y is limitL￿ lo £1 O per ￿e￿I￿[￿r the ctwity.. The Trust's address is The RoUndh(￿e. Chalk Farn? Road. Londotx NWI 8EH Bssi$ of ¢0tts01idatioM The 8roup financi￿ staternenis consolidat¢ the fIn￿¢la] SthLements ot ihL" ¢haritsbl¢ compam.. und I￿ active sub5tdiary. Roundlwu% Trading LimitLxI. on a line bv line tKJsis. As pemittcdb% 5cciion 408 ofthe Comp2nies Act ?006 thc ineome and expendittsre ofthe Ch￿ilY is not presenivd ￿Part of these aLcnunts. ThL profjt and loss atcoum foi the trading Subsidiary is PTe5ented 5epaTarely Itj ixlote 4. The parent charity has thken advaniaoe of thc dÈs¢losur¢ cx¢rnNion ￿￿er FRS 101 io separn¢lv dI￿lo$L ai¢gories orrinanLial In5tfUTncnts and iterns of income, expellses, oains or I0￿e5 Telat%nliciLS. Tr¥￿e¢S arc rcquired kn makL jud2eThK'nr5. esiimales and ￿uMpI10￿S about the carying ialue% of &%sets and liabiliiief that ate nol ieadil) aPPJTent f￿]￿ other souzres Tlie eslimlltes underlying assumpiions are based on historical ￿per￿l￿e a]Ml oth￿r hciots that are consid￿red tu be relevant. Actual tesults rnav difter from these estirnates The estimaEes and underl}ing &%sumptions at¢ r¢v1ei￿ed on an on-going t￿1$. Revisions ¢0 Lccountjns estima*s are re¢ognisc.d in the periad in wknch the ewmaie is r¢vis¢d il. thc r¥vJs*)n alTe¢ty onlw thai peri(xl or Jn Ihe pen￿1 of the i¥vision and futur penth15 Jf the Tclision aiTecis thc cullent and future periods. In thi viLw of Trustees the onlv significaDI estim￿l0￿S aTe those linked io the allocation of support C1>515 acioss OUT charltable and nonin2nei31 Activiii¢s ov¢r its ru except ilthen it is anticip￿e￿ thai fillure prfmluetion incomt i%ill bc insuff￿1¢nI io cov¢rih¢5e iosts SiMil￿lY. produetjon specific ￿cOME or grants received in are als) carned kon*itd and ￿leaSEd al'er the Fri(x4 of the Pr￿J￿¢[lon tun. Donaltd servi¢tt fd¢ilitl¢S Gills and servi¥cs received ID kind ate inLlud¢d ivithin domthons and c7Hrged w the Irspe¢uv¢ expend5ture h￿jing i￿7th1n th¢ staiement of Financill klctivities ai Ihe best iiiimaic of thcIro￿n markci Val￿ or ihLir vaJuL to thL charl￿, In accoidJnce with the Charities SORP IFRSlO?i (he volunLeer tirne is not recoEnJsed in finJn£iul teFtns. See pagc 12 of thc Tru5tre'5 annual ieport for Fnott inloFmaiion aknui thi5 vaJuablL cOn￿buri0n. 27 THE ROUNDHOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 202) Expenditurt Expcnditure ineluding irrLYovernbli VAT is charged to the StatE￿L￿t of Fusllncial A¢iivstie5 on an accTuals b￿1%. Costs of L4)¢raiing fwids a￿ thosl costs incutted ￿ raise voluntar) incornc. thc Costs of rrading act1vir￿S for ihL purpo¥c ol raising [￿ndS and inyestrnellt manasemeni fe¢5 L0515 01-&LtLV*ties in fvrtherance of charl￿[e objecitves represent the direct Costs ofca¢h adiyity together i¥ith an allo¢alion of sllpport costs. The 2]ILKation of support COSS is made on the of a pro[￿[￿0￿ of ewenditure incutted in that aetJTrity or he2dcotsnt wthJch¢vLf is the ]nore rlltvant cost driver. GovLrnancL eosts are ir￿urred in mccling the Constituti￿￿1 a[￿ twulte￿￿$ of the chthty. On oceasion, managem¢ni d¢Cid￿ io make redun¢Awcy or *miin*ion paymvnts for owatiOTwI r&wns. Trse are expensed in the SOFA on an accruals ba515. T2n¥ible fixed a55ets Tangible fj.xed a55etsare slatLd ￿¢051. DL'pre¢iaiion hasbL¢n ¢hargcd ort thL rcnovationrosts ott the basi50fthL rL'maining lifLlitnc of cach sndiyidutsl aS￿t and charged to thc rLslricicd capithl fi]nd. Depr¢ci#ion is provJd¢d at tr,¢ folloiFing ￿u2￿ rnies in grdir io iiTite otyeach assct ovLr its ¢sumat¢d usefvl Iifc= Leasehald propcrry and building fabric Renov￿lon costs over the peric4J of the Icutientty. 78 vtaT5 rernainingl ovcr the peri¢￿j of the liJSC if linked io thc I￿￿kold pmpcrty. and building: othtts bLii%¢¢D 2 aTMI io ycars vanous rate5 beli%L'en ) and ?) years FumilurL und equiprnent Thl group's w)licy is to caprtalise ￿] ittm5 ab¢we a valu¢ of £500. Th¢ ¢aTryin8 ofthe I￿￿.hold property 15 ¢vu]uat¢d lor impairrnent on a regular bL8i5 Where the rarrkirte value of ihe PTuperty is COTJydezrd to be irnydired the dilTeTenEe be￿￿een the existing can)'Ing value Jnd iTrTltitn value is tskEn to resctVe5 Imlanglble r￿ed The purLhosL' of nei%. eomputLr softilare h&$ bcL'll capjthli5l￿ iwthin intangiblL awts as th¢y r¢late to sp¢cifi¢ cxpcndi(urc iihi¢h dnvLsdniicipatcd future ￿nefits. Once broug￿ inio u5¢ intall8ible assc¢sar¢ amortis￿l on a$￿tght-1lnL basisov¢rthL ￿tiCipatld usetiil life of th¢ softwar¢, typi¢allv 3-) y¢ttrs Fiitd asset invtstments Fixd Jsset investtn¢nts are includLxI on the balancc 5h¢ct at mJrkcL vJlu¢. R¢alis¢d JJ)d unr¢xltsed gains and loss¢s at the yw- end are crcdilcd and dLbited to the SLLicmL'ni of finan¢ial a¢uviti¢s In th¢ ythir io ￿h1¢h they arisL'. The ehuriiy operaiLS ti%i) stskekolderpensitsn schemes ￿h￿ch aTe available Èo all etnp]0Ye￿ Pension contributior*s atr chJT£¢d to the Skn(ement of FiThancid Activilic5a5 bccotnc due. FuDd aetountllLE Unrestri¢w.d rcpreKbnt tradingor othlr income reccivLd with no restriction on ￿. D￿gnated lunds are amounis4lcsignai¢d b) Ihe Tn2siecs from unTL5triciLd rcstrves for the spectfic ptsrposes oytlina in th¢ noks. R¥Stri¢l¥d funds arc te¢¢ii'ed loi>wds a pwttcular programmL or projcci. Cawthl funds aic amounLS received towwds the Purch￿ of capiial uknct5. EndO￿TRe￿i funds are amounts received for in%esunent io produLe r¢oular in¢om¢ 10 fund aai%'ittes Stock Stock IS valuLd loiirrol-c051 and net teaiisable value. Financithl fftnslruments The Tr￿51 has tinan¢ia] IiabTliiies of a kind ihat qualily as basi¢ fynaneial Ens1￿[￿Lnl5. Basic fiTLincial 1nstrutnL￿ts are Iniiiallv rccogniscd at tran￿[tiOn va]ue afid 5ubscquenil!' measuTcd at amornscd CO￿ u5ino the eff¢ctiv¢ int¢r¢y rn¢th￿. Financia] asscts held at amon15ed cost wmpris¢ cgsh at bank and in han¢s il Js recwi*d in th¢ Siatement ot Finan¢ial ALtiviliLs on a $tTai8ht-line b￿$ ov¢r th¢ leasc trrm. 28 THE ROUNDHOUSE TRUST NOTES TO THE FINikEYCIAL STATETrIENTS FOR THE YEAR ENDED 31ST MARCH 2023 INCONIE FRO.11 DOli.tTIof*S 2025 000 986 97 21124 £000 Gift5 Donated S¢rvices 97 1,083 1,215 The Incom¥ trom donaiiors for the y¢ar Ni•$ £1.083 ]nillion. The T¥u& is gTaltfvl TO WithtTS LLP for thtir leEal suppon aLrosS a ran.￿ of are￿ Th¢ value ofthcirsuppon in the h&5 been estsmaled as£96.3J412074 £y4.012). Dort21ed ser¥ieL'S In 20?4-7j a150 included the calcdaled value ol- adN'ice from RB HL?ILh afid Salety Solutions Lul e5timatcd value ol- Ihi SUPPDrt is reci)gniied %Yithin income and an equivaltvi Char.￿ iDlIudL￿ ￿￿thin 5UPtx)n cosls. The Roundhow¢ has and very waluabli SW)pon Irom a Èroup ofvoluntrers wllo Ik.Ip with visitor scrviees foi incoming usic othd artistic perfo￿anCeS. In uccoidance FRS 10? aNI the Charities SORP IFRS10!l the economic contributson of eneral volunteers is not recognjsed In the aCcO￿nts. I.ICOIllE EAR>4ED FRO.11 CHARIT..*BLE AcfJi'JTJES 2025 2024 £000 £000 3.910 718 997 993 io 98 34 212 Income FTOM Mustc HJTe TicK"ct and r¢lat¢d i￿omi from Round]Kiuse commissioned ￿Ork Bicnnial fundrJi5ing gJa rLS Council England - N'ational P¢)rfolio Arts Council En￿lartd - (Xhvi InLom¢ Irtsm Tntsts & Fuv￿￿￿E10ns Inconie from CoTPOnte ParniLr5 le2nbeiship Schemes Course &- ProjeEI lee5 Ilncludin￿ relaied hiic incom¢) OthLr Sundrv Income 1.387 993 io 707 206 176 li7 7.)?8 ThL Roundhouse rcceivLS J grani tTOm Atts Council E]8]and. DEDiertJmeni fijnded OEcaRisatioJ4 Js one of their atlDnd Porttolio ni5ation. 2024-?i the 5ccond ycai of a th￿e-y¢'al grJnt ag[cL￿en￿ ivhiih ￿li. thL Roundhou5L, ILYeJvL £992.(A8 in the 'car ThLSC grants oro wrestriLtLJd thding io ihe Or¥anjs￿I0n. 29 THE ROUNDHOUSE TRUST NOTES TO THE FINANCLIL STATEMEIYTS FOR THE YEAR ENDED 31ST MARCH 2025 I)COIIE FRONI OTIIER TRADIIG A￿1VITIEs The ch3rit}. has IOOOlts 5ub5idiary compinie5 R(rtmdhousc Tradine LJmJied and Roundhouse Piodu¢t)oRs Ljmilcd. (Compan} nuTnk.r Oi6P688) Roundknuse Pr￿1￿clionS Lid Is currLntlJ noi trJding Thc re￿$1¢[¢d office of both companils is the $￿e thc parent charily ￿￿etailed itb ￿1C l atKI companics arc In¢0tFrf)￿¢d and domicjled in th¢ UK. ROLmdt￿U$e Trudin8 Limit¢d's Icompw. number 0567?691) pn￿￿al 3ciiYilies aye the sale of prrvale hLre faeiliii¢s and the oFrauon Of barand ¢JteTing facilities i￿11h1n the Roundhou￿. andthe ter*al office rent)I space. Surnmatiscd filbanci￿ snformaiion 1% s¢t out beloiy. 2025 £ouD 2.737 3.643 3)6 332 2024 £000 2.055 3280 499 Profjt 2nd Lo55 Income from J¥ivJte HitE Income from Bar & CaLerirt¥￿ 0peT*1￿5 Office Rental Incorne & Service c￿￿¢ OtherTrLdiDg In¢omr 7,068 12.?451 6.145 12.123) Cost of ￿leS Gr055 profi¢ Iniere.%t ¥ecLivablE Donation via Gift Aid 4.8?3 107 14.930) lJ.li31 R¢5uI( lorthe P¢Eiod 2D2i £Doo 7.358 17,ii81 2024 £ODO Balanee sheet CurrLllt ￿$SeEs Crediiors. Amounts fallin8 du¢ i¥ithbn onevear li.6j?I N¢1 current assets Called up Share capithl Profit and loss acrounÈ Equity ShattholdcTS funds INiVEsfNIE,NI' IJCOIJE The Tntst's total ini'osllrtenl income of £4?6.106(i¢r4. £40i.41il 15derv*￿ from r¢siricied ¢￿d0￿men[ lund inveS￿ent inconje of £14).8i112024.. £149,860> artd income from int¢r¢s¢ bearing d¢w5it 2ccowits of ￿80355 I￿94.. £2i55iS1. AI,ILISIS OF COST OF ELIISI)G FI".NDS ,Note 202> 2025 £000 2024 £000 2024 £000 Commercial tradins opcrations cost of salts Sharc of stjpport costs_ 2.117 l J7i novemance & dcprecialion 1.166 3.411 40 3.491 35 Investment monasLmeni fees Direet Costs ol-fundTaisiT)g alld publicii Sha￿. of supporl governance aThJ depreciauon costs 841 1.064 197 95? 1261 4.787 30 THE ROUNDHOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 202) .4N.4LI'SIS OF EIPE•4DITI-:RE OIY CFIARITABLE,ICTlI'rriES Roundhouse Routhdhoust PrOd￿CtionS Toial Total 2024 Hirt improtying the burlding ProTrnmme £ooJ £o(N) £000 3?0 £ouo 432 16 67 3)5 4.181 496 Artistic &. crcaltle fees Costume & set build costs Dii¢ct live stwmin8 CQ51 Tuior & course letsjer Ices Diri¢i managemeni, prOd￿C[and c¢￿)rdina¢0r f¢¢5 DireLt sL"curty rob Dir¢bt Insurance costs EquipTnent hir¢ & maini¢#ance PertonniDg rTghLS *fJL'iety roi'21tILS TrJvel &. subsistLnce DIrL'ct marketing 5UPPOrt Credii card transaction fces Oth¢r mi5¢cIlaAeo￿S Govetnance & 5LIPPDrt costslsee Noic %- Support and Depreclalion c05t ollocalion lablel ShaTe of drpreciatIon ISL'e Ote S- Support and Depreciaiion COM alloc&tion tsblel 40 260 19 36 993 86 411 2.306 447 4,884 362 828 470 7)7 57 405 247 367 45 754 397 362 50) Si 103 3(KJ ?¥) 34 86 373 61 277 241 4)8 *** 1.381 641 292 i.4i5 2.917 387 176 66) 1,426 Total U21 4.1 14 2.99) 2,002 13,932 11,405 ANALYSIS OF GOI'EIiNÈllCE,kn)D SLPPORT cosrs The rable ￿101¥ deiails thL RounLlhuuse i 51IpFOrt CQSE5 by atea. Thcsc cr￿S a￿ apwniol￿d ussng thr basis summarised below a¢ro*8 th¢ charitsble activittes l￿de￿k(.￿. fundr&i51118¥tivit125 atMI the corntncreial operations The goveman¢¢ c05ts are a 5ubsei of each arla and havi b¢en Mlentified by considLiaiioll of r05ts ￿ ￿ch iategury and are allo￿ted on the same b￿15 as lh¥ support CQ5rs. Depreciation ES being s¢par3tely due ￿ the si¥niticani erreci IL ha5 on the overJ]l apportionmeni Due to thv inkgrated nutur¢ of our itsppth function the Imsisof thlo¢Jtion uses 2 number of assumptions ￿nd i￿1]MateS Gtneral Support Costs £000 Tofxl 2025 Tothl 202J Basi5 fDr allDC*tiO GoYerNntt £aoo Senior manugement OVCTsighi FinJTKe 89 33 181 Allocated on time 358 Allocated on actii'itv kimc 577 Allocaied on timl 706 Allocatcd on Jclivitvjiitne 309 Allo¢arcd on lime IO) 410 61? 80) 3)9 443 HR tr support Ti¢kiiin8 SeThi¢t5 V151wr5 scrYi¢¢s and 4berteral securi Buildins operdtions. mainlenance & ¢leanino Admirtistraiiort oilicc Tcchnicd mun3gerTr¢Nt SUPPOTI 80) 339 Allocated on liryJ¥ 1,694 Allocated on activi￿. 340 Estimate of spaLe USLd 205 Allocated on audiLorium activity, Total support ¢0sts ¢x¢ludiD% depreriation Is¢e rolumn A in table beloivl 4289 130 4,419 4.191 Tota] DeprcLiaiion 1,7?0 l.i8) EstiThdte of spacL IAsset use Tijtal Support Costs 6.￿9 130 6.139 THE ROUNDHOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31ST MARCH 202) rt and DL. recMtiort c st% allocation trable Thl obovL Support deprcciaiion costs wtr¢ 4llocai¢d across the folloMYntT areas General Support Costs IColuTnn Al £INIo 918 Deprttixliott Toial 2025 Tothl 2024 Icolumn Bl £(MlO 749 £ooD 1,167 £000 lJ73 In supwrt ot commL'rcial trJdtns operation5 (see Noie 61 In support of fundraising and publicity (See iNoi¢ 61 In Support of chafitsble &ctLvities {ScL Ni otc 7) 66 4) 197 3,43) .426 4.861 42Q6 4,419 1.720 6.139 i,776 ,NE'f i.)CO.IlliNC RESOI,RCES LXPE.•4DITI2RE FOR THE YEAR 2025 £000 2024 £0￿￿ Tlris 55 slated After ch#r￿￿- DL'pfLLiaLion & Amoni￿110n Amortisauon of l¢J5e AudtlOIS' T¢muncr4tion- audit5ervices TrubtLY Ind¢trtnsty Insurance 1.720 31 33 l.iY5 AY,KLYSIS OF STAFF COSTS sfAFF IL4IBglLS A*1 ID TFIE COSTS OF KEI. M*lNtlGEIIEJI T PERSONS1 EL 2025 £000 2024 £000 SiJtr colts during thc ytar pere as follows: Wages an¢J salwics Social securiiy Losts Oth¥r p¢nsii)n costs 7.185 648 ?4? 6)24 ?47 8.075 7.331 Pension Costs arc 411ocatcd to activitses in linc iiith the rclaicd staffjng and are iithollv tharged lo unTCStricted funds. No Tcdundaty pd}'m¢nts iitre M￿1￿ thL }rar (W*4. £6.4711. No ¥￿-s￿lia paymLmts i*TC in the year120?4-. nil). The nuTnbei of emplo)c¢s Cam]￿£￿'Cl £60.(¥XI peratmum %%Ere 20Zi .lumber 2024 .Yumber £60.WI - £70.QQO £70,(K)1- £80,000 £80.(XII - £90,000 £90.001- £100.000 £1 ￿.011 i £1 10,000 £i10.001 £5?0,000 £I?0.001 £130.000 £130.00] £laO.000 £140.001- £1 iO.000 £ l iO.001 £160,t>oo 160.001- £170,QQO 32 THE ROUNDHOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 Tknelw¢ employees l?0?4-. Thirteen) recei%"in8 remuneration of £OO.OQO or morc participaied in the charity 5 ￿nsion scheme. The iotal eniplo}er conttibuliDn for them Tll ihe ykar ilas £117.4 j! l?074, fA$4,4jjl. The avewe number oF¢rnploN"¢Ls durirto the year iitre.. 202> 2024 Fundraising L Teative Progra￿l￿r & Produ￿]gA Food &. BL¥erage &. Evenis TE¢hni¢al & Build Scrvi¢¢s Visitors SeTrices CapilJl Project Other Support stsff 68 88 68 84 61 43 i6 48 326 316 The k¢y mana8ement personnel ot.the gtoupaNi the charrtv co]nprise the Tru￿¢¢5 and the E%¢cutivc Director5. The total value or the employce b¢n¢fJts oftbe k¢y managLm¢nt per50nn¥l lor Ihg ycar ￿ere £707.9J• I70•4 £6!6,132). TRLSTEES, RENILNERATIO.N,knYD E.VErySES In aLL0rda￿e ￿"sth the authority cL￿taj￿Cd M clause 4 Ibl of the charity's NlernDrandufft aThl Anicle5 of Association. one Truste¢ Is ￿$0 an en)plo¥eeof the company recei￿ed remLmenij￿d￿TJnE thL' year. Detailsof arnoulll paid are Set OLrt below. SnlAry btntfits 2025 2024 Pension Contributions 2024 £000 £000 £000 £000 l J Davc>' £1.98) i¥¢re p￿d in ex￿nseS for thLS emptoyee uustL* i￿￿71e cafTving out thcirduties 2$ ath emplo*ee_ £138 ey)¥nses Mere paid In ?02i124 Johnson EiienT)e receis'ed Icllumetaiionot£8.820 lor thLir as ￿freelanCeaftls[￿torL1'jth the Roundhouse in ?0241Tri1£17,740 in 202?JJ? I tkmi AsriLI Ad￿0y¢ rec¢ived renumeranon of £liO for music licetL51n& kenya Jumj r¢C¢i&l￿ renum¢raiion of £IO(K) for theiT iIDrk as a d¢sicner 12. IIYTIINGIBLE FIXED *lSSETS Group & ¢h￿rity Softw"art Cost Ai I, April 7014 Additions Wtiie offs 1?8 {?41) At 31, hlarch ?0? j 298 -.¥mortisatiDll Ai l. ApThl 202a -4morti5atxon lor ylar Vrite offs 171 {241} At 31. fvlarch 20? j et Bovk Value Ai J I, Nlarch *02) Ai 1° Apnl ?014 198 33 THE ROUNDHOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 13. Ttl.NGIBLE F￿ED 2lSSETS Grollp ¢harity LtA5thold Rcllovatio Furnitsirt & A5Stts undtr Equipmtnt Coosiruetion Property Other Building Costs Tot*1 £000 Cost £000 £ODO £000 At 1° April ?0?4 Additions Diswu15 TrJn5fer 3.100 38J85 3)? 4,437 4i,922 756 (1071 11071 At 31. Mjrch 20?) 3.100 38,737 4.734 4fj>71 D¢pT¢CLation At 1° April 2024 D¢prcciation forycar Disposa15 6)7 31 11,857 1.183 3J82 333 11071 1.547 11071 At 31" fvlar¢h ?0?5 688 13,040 3.608 17.336 .Net Book Valttt It 31" Mar¢h ?02) 2A1? 2S697 1.126 29,235 At 1° Apnl 2024 2A43 26u28 30,026 All fsxed Js5ets ar¢ used f(Fr ¢hJri¢abk pwpos¢E. awt frorn assets r¢tatiJJgto barJnd ts¢¢rIT￿ ¢quipm¢nt and thosE r¥latsn& kn the const¥u¢tion Jnd fit-oul of thL cale. Th¢¢ost3lld nct Lwk values of ih¢s¢ £26? 186 and £6.569 tL%pLxiivcIy. In addilion to the Irjlcrell h¢ld Jn thr Rowidhouse b). The Normon Trust. four fvnding bodies legal ch3FEe5 Dver the Roundhow. 202) £00 6.919 2024 £DOO 6.076 Markit Value al l April ?0?4 ViihdmM?Is RLinNested investmLnt income In1.¢￿ment fL'¢S Gain￿LOs5 on InvesErnents irt ycJr {2ill lio (3)) 980 146 1401 Matket Value at 31 March ?025 6,993 6.920 UK Fixcd IniLrc Uk E4U211es Overseas Equitres 0s¢¥sL'&S Fixed InlLiesr Cash held for invesirncnt l.lio 1515 i.162 382 1.016 2?? i.184 386 106 Matkci Value ai 31 March 6.993 6.919 HistoriL Cost ai 31 ￿1￿ch 70? j 3.610 Nu individual lnvlsts￿lnl hLkl is src4tiYthan )% of iotal portfolio 34 THE ROUNDHOUSE TRUST NOTES TO THE FtNAI¥CIAL STATEMENTS FOR THE YEAR ENDED31ST IWiCH 2025 15. TILIDE •l,ND OTHER DEwfoRS Group ?025 £0￿} Cltarit> 2025 £000 Group 2024 £000 Ch#rilv 2024 £000 Trade debtors Du¢ from trading subsidiary ccrued 5ncome and prewoymems OthLrdebiors VAT rceovLrable i09 i.408 i62 397 36 1.730 607 i37 868 672 847 i19 2.338 3_270 4.898 Amounts due trom th¢ subsmliary repTes¢nts I1￿ amouffl payab￿ io the giftaid donaiion ot £i.407.95112074.. £3 ?111.605). Note 4 prov5d¢5 mort thtsil the amwii donated under giftaid. 16. CREDITORS: amounts falli￿ due within one ytar Grvup 202) £ooD Charilv 202) £0 GrDUP 2024 £000 Charslv 2024 £ODO Trad¢ crcditors AtnouTht due 10 It￿]￿e sub5idtatL Oihcc c¥LdJiors Other taxes alld 50cid 5ec¥ri Ilcinfals and defetted Income VAT Pay7bl¢ 873 4?? ).441 li6 2.6i3 178 3.0?7 15) 2.863 50) 2,738 Si7 1.303 6.381 4.467 ,684 Defelred income comprises amowlls receivcd orbilled for which thc sctvKe. prpjcei or CXPLndittJre ¢Keur5 in a Fulur¢ ycur d¢tri15 of ivhi¢h as foll￿1* Group 202i £000 Chgrilv CrfDIiP 2024 £000 Charity ZU24 £uuo Deferred Income £000 O￿nIng B￿anCe I. A￿11 2024 Deferred IneDFne recognised in tIKyear DefLrrv& in the Jear 2.313 11.903} l.) L4 710 1.834 4?0 1348) 638 ii6 1.789 Closing Balance as ai 31° Nlarch ?OJ? 1.9?4 615 ?J13 710 35 THE ROULYDHOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEARENDED 31ST MARCH 2025 J7. AIALI'SIS OF FL.YDS Transftrs Betwttn bullds £000 Re5011rces Eipeuded £ODO Gain o luvt$fment £000 3]" 114r¢h 202) £000 2024 £000 Rtsources £DOO Unrestri¢trd t1￿¢]S.. jencml res¥'rvL (hh¢r funds.. Dc51gtialed fiyed asscts Desigtwted capiial fund Designaied campus fund D¢518natcd fjJnd3 ￿her 1.6(Hl 16.1451 117.3791 120? 1?,077 8iO 128 991 Iigoi 11.897 8iO (118) (5701 418 Total Unr¢strici¢d f￿￿5 15.&16 16.152 117.3791 318 14.737 RestriLied tund5'. Progiatnrne fi￿d End01￿￿ent fund Restrictid ¢apiMI funds Campus Projicl Restricted eapithl funds.. Othcr io 6.919 26? 12621 {40) 211 (971 6.993 18.147 16)41 17.491 16.62) 118.3371 211 39.221 GenL'rJl rcseTVe Thc uftresiriciLYl gL'ftL'ra£ rcscr¥e fw¥J i5 availablc to rne￿ the iaTgets 5¢t in the Reserves Poliw &$ d¢scribcd in the TnL4¢¢5 R¢pon on page 12. The tnnsfer bLii%¥eeTr funds valuc ￿ the nei of thc trJn5feT5 lioYfroTr th¢ folloiwng fi4KI EQ 180 576 Tran%fLir Iioyfrom dLiSSgrwie0 128 991 2QO 130(1) 1?8 Totol Unr¢str1c￿d ff￿ds 15.3(H li.110 (15.i411 574 15.646 Restyicied funds.. Progrnmm¢ fijnd Fnd0￿Thcnt fijnd Re8tri¢ted Capit￿ (unds.. CJrnpus Projecl Restricted capiknl fi]nds'. Oiher 10 6,076 1961 135) 10 6.919 980 {1021 90 18.867 18.147 40.638 l j.996 (16.19?) 9SO i& ANAL YSIS OF NET A&SETS BETIVEE44 FL%DS Rtslritltd Ilnrestricttd Rcslrictcd Funds 31" Ilarc 202) IntangiblL fLxd asses Tansible fixed &ssets ltyvLsÉmLnts li4 11.743 17.491 6.993 6,993 Current 0SSL'ts 9221 9,L?I CrLdiiors.' amounts falling due vithin one}rar (6.381) 16.i811 Toial nrtassets 14.73) 17.491 6.993 38 THE ROUNDHOUSE TRUST NOTES TO THF. FtNANCTAL STATF.MF.NTS FOR THE YEAR ENDED 31ST MARCH 2025 An21Jsi5 01 As￿S bLli%rLn comparatives for the prior)car eDdino 3 1 fvlaTch ?0?4. Re5tricled l-'nrt5tri¢ttd Fuad5 Rcstrirlcd Fullds 31. Nl3r¢h 2024 Fuud5 Intan¢tble I￿ed &%sets 198 198 Tanoible fiyed tts5ets Investments 11.879 18.147 30.0?6 6.919 6.919 CurYL'nt assets 10,674 10 10.684 LF¢diiots.' amounts talling due i%'ithin )'Ear 17.IOil {7.IOil Total nel ￿(5 l i.646 18.157 6.919 40,TL7 19. T.4XATIO, ThL Roundhouse TrusE is aregs1ered chan.ty and therelore isnot liable lo incometLxorcoryoiaui)ntAxon iaeome 01 derived from its chariwble a¢tiviti¢& as they f411 ivithin various exemptions available to re8iSter¢d chariiies. Roundhouk. Trading Ltd is ￿￿0]lY owied trnding 5ubsidiar)' of IhL' RoundhLiuse Trust. Profits arising from the activity of Rothjdhouse Trnding Ltil aFe passcd w The Rour¥Jl¥)uk Trt￿ the gifi s¢h¢m¢ 20. LIABILITY OF NIEIIBERS The Rouftdhouse Tn&5t Is const]￿ted company limikd b￿. ￿Uat￿nIce and hus no share capital ThE lJabs1ili of ea¢h men)bei Js li5niled lo the 5Utn of £10 peT tnesnber Ai 31 fv1?rch 10?). thcr¢ u.ere 17 nJember5 1lQ?4. 17 meTnbersl 21. RELATED PARTI. TRLNSACTIO.NS I i Laspar Norman 15 aTntsteL' olb¢Xh Thi RouThlhouse Ttust aTMI Thc TrusL On I"JanuapJ' IOOY The Roundhouse T￿LaCquIreda 99-%ear I￿ehold interest in the RoundhousL. from The NonnanTtust for £3.Im The ￿ndIn0 lor this purchase provided by the D￿S. As- part olthe fil￿11n8 eemenE li.iih the DtES, The RoUndP￿uSL. Trust entered into a Pre-EmNion mellL ¥%2th the DES and TIK. NoTman Tru51 in ?OOi. Thits agreement grdnt5 CL￿n11n pre-emplK)n riehtS to The iNornidn the event tha¢ because of a default by ThL Roundhouse T￿St, the DtES oxercises its rights IQ 3pwinl a receiver or seeks 10 dispose ofthe 99-year le￿ehOld interest in the Roundhouse. In uty 201) lTre Nomuqn Trpjsi ihe Eease srnted ts) The RotJndhou* TnL4 for land adJ2centto the Roundhouse from 25 }edrsto 99 v&irs in litt the M￿t) l&w. ?} The amowit of donaiions rt*ei%'ed fmm Tn￿1¢¢5 duri￿8 the vear £50.$6612024.. £71.6381. of thesl. amounis ¥¥re reteived as donattorts iiiih unreatitied use. 31 The Trust 8]so received a grant of £9):000 fiom The Injlexion Foundaiion for iihith Simon TuTner IChJman of Board ol Truyiccs} 15 a DirLYloF. Th5s donatiun reCeIvL￿ as pan of a tnuJii-)'car partsiLTship fec ThL InilL%bOn Founaalion also don31ed £70.000 to Thc Roundhousc ￿ foF challLYJ(vc CVCn15 ITt suppon of the Charity 41 l￿eTt￿$t one 3clive i%lJollF oiiTred subsidTr2Th': RoundlEou5eTtadin? LiJnil¢d. iihich 15 125pon5ible for Incojne E¢nerJline acti%'itie5 1%'hirh are incKlcntal 10 Ihe Tru51's ihariuble p￿￿OSe5. Thc5e mainly ILlaÉc to thc orpani5alioq"5 tood and bcvcTrgL' operation. tvents hire5 and olFice RnL]l. DUT￿￿ the )'eJi ¥13FCU5 D2v• Nlichavl Dixon ii'hib tite kev [nanage￿ent personrael for ihe Trwt alld C￿par Ni omian is TKv51ec iicre dirts10￿ of Ihe cornpanv Roundhouse TTadinE LiTTriied 'fttd £4,930.?611!n?4: £4.14) 78)) (o Tru5L duiino !0!4.?ilsce also note 41 22. COilli)IITIIEI)TS 20ts £ofjo 69 2024 £ov Capital Comrnittntnt- (kher 69 39 THE ROUIYDHOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31ST I￿ARCH 202) 23. OPERATI￿￿G LEASE The Roundhousc Trust has sigMI ts spacc rcnial Ic1￿ wilh third party orJnisatiort& Urydcr thc Icyrns of Ihis ILJ5C future minitnum leasc TKeivabFe$ Us￿er tM)wan¢illab1¢op¢r￿1pS lea￿5 a5 follows.. Group 2025 Charity. 2025 £000 Grn 2024 £lloo Chariij, 2024 £000 £voo Amounts rcL*ivablc 14ithin l y¢ar Amounts rLYeivable Jn tnts￿ thJn l ￿ear but le￿ than 5 years 81 81 279 81 279 81 81 360 CONTINGE)T LI.IBILtriES OVLI the I￿1 fi¥e fIn￿£141 J"¢ars the Rowidhouk. underthk-eE] a major ¢2pithl and reneth•l proj¢ci. Th¢ agrccmvnt oi the lJnJl sums dtjc io s¢'vLral contTaCtors and consu]wn(s InNolvLd is currentlv beinÈ a￿ssed. As at 31 ￿larCh ?0?5 and daic of ssgning the trustees belie%e that ¢here Jjditionth sum$. IyoTrJ the amounts already included irt these 2Ecounts tnay be pavable subject to r*na] agieemertt. If aTTrouBt bccomLs payable, the> ￿"oU1￿ be filljdcd from th¢ De5ignat¢d Capithl Fund (see Notr 171. The (￿nd has becn dLsignaled overthe IL5t fei¥yeaTS 10 covera range olcapital projects. Some ofthe5e may n¢ed to b¢ d¢la}'¢d ifth¢ amL)unt needed EO ¢Iosk Out the campus project is signific￿t. 40 THE ROUNDHOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 25. CONIPAEL.ITII'E SftlTEIIEINT OF FI).INCIAL Aftll'lTIES FOR THE I'E.IR ENI)ED 31 NURCII 2024 I"'nrestritted Restricted Programme Fund5 REStrirttd Capital Funds Elldoiimettt Fund$ Total Funds 2024 FU￿￿$ 2023 £000 £No £000 £OOD £oDo Incomt DotL4ItIOllS Income from ¢haritable acfiTr'ity Income from other trading 4clivilies: 13 77 1.294 7,)30 7.3)) 96 Cornmercial tradI￿g artivities 6.146 6.146 i.4)9 IDve3trnent incornt 405 40) To¢al In¢omt 13.1119 96 90 Expenditure Cost of raising tsnds 4.75? 35 4,7¥7 4.006 Expendtture Dn chxritablc aclivilic5 Roun¢Jhouse CrL'aiiir Pro8ramm¢ for Young Pcoplc Roundhouse Production5 ,Iqusic Hir¢s laint#ininÈ &. Tmproving lh¢ Btsilding 4.126 ?_731 2.63) 3 J30 2,Oil 2,731 ?.6jj IN97 1.577 1O.i89 721) To*al expenditurt liJ41 720 3) Oprraiine surplu￿{derlCit) {232) 1630 116971 1,073 ILDs$y Gain on Imtstmellts 14 980 1441 et incomelleipeuditurel 12321 1630) 945 l.U29 Transfer bekn'ctn furtds 17 14721 110?) -Net movement in funds 342 843 83 1,029 RttorttilÈalion fjffund5 Total Funds biouEht foTr¥vrd li.3(H io 61>76 40.639 )9.609 Tot81 carried forward 17 18.147 6.919 40.722 40,635 41 THE ROUI¥DHOUSE TRUST NOTES TO THE FIN￿cIAL STATEMENTS FOR THE YEAR ENDED31ST MARCH 2025 26. AN..ILYSIS OF EXPEYL DfTbRE ON CH.tRITABLE Acrii'rriES FOR I'EAR ENDED 31 NIARCH 2024 Rou•dhovse Creative Proor2mme Roundllouse Prodtsttio JaiDlainiA & lrnpro1.i￿g Ib¢ building Total 2D23 Hirt 2024 £000 19 £￿0 394 14 49 £000 19 £000 £￿9 432 16 67 3)) £QOL) Artisti¢ & ¢rLatiwe fiL5 Cosiun)e & SL'I build ¢osts Direct liwe streaming eo Tutor & course leader fees Direct tnanagemtM,producer atyJc(K>rdinatOT f¢es Direct se¢urity costs Eq￿1pm￿nI hire & tnaintcnance PLrfomiift8 r[￿hl% soci¢ty Toyaltic.s TTavel & subsiste￿¢ DiTecl rnarketing support Credir ¢ard transaction rets Oihcr ￿￿￿￿1￿￿￿e0￿$ Gosirndn¢c & support COSts15ccN'oie 8- Support d DLpTLYiaiion co* allocation iable) SharL' ofdcprcciation (Se¢ Not¢ 8 - Support and DepfEClalLon cost allocation tabl¢} 18 344 3,337 417 379 325 88 2)5 727 66 142 708 429 291 315 496 i05 324 61 108 26 ?18 10 47 51 74 i73 63 315 1.103 8)7 608 i44 ?.91! ?,89? 531 69 507 1293 sio Tot.Il 4222 2.731 2.63i 1.817 11,40) 27. A.XALYSIS OF COVERf*ANCE AIND SL'PPORT COSTS FOR IEIIR ENIDED 31 IIARCH 2024 ThL table bcloiv details thLI Roundhouse's sijpport eosts bv These costs ￿ apportioned using thL basis summarisd belo¥v across the charitable activilies undertakvs. fundrdisine atliviites thl ¢ommei¢KI operaisons Th¢ goi'etnan¢e costs are a subset of each area and have been Idcntificd bj consideration olthe costs in ￿ch cattgorv ond ale allocakd on thc &ime basis as the 5UPPOrt costs. Depreci2t&ok is b¢ts)g shoiin separatelN due io the significant effect 51 ha% on thL oi'eratl aPPDnlDnHJcnL r)uc to the intL8¥aied natur¢ of our support FunctlOFI the ￿￿•S ofa]Iwtion ￿$t5 a nurnk.rof &ssumpttons and c51iTnalc5 G¢nerAI Sllpp)rt C051$ £o(x) l-olal 2024 £coo Total 2023 Basis for allocJtiD £000 Goi'¢rnancr £000 SLRior tnatwmeni over51ghi Fir￿￿le 64 31 18) Allocat￿1 tsn time 38% Allvcalcd on dLtivity, IiimL >)3 All￿alL￿ on tiniL' 665 Allo¢at¢d on a¢tivity'ltitne ?99 All(Kated on tirne 90 j)7 577 706 309 105 3)8 577 706 309 105 IR IT support Tickctillg Services Visitors services and general sL*urity Building OPLTalions. mainlLf&inLX' & clLunJnEI Adminisiratioti offlce T¢chniL71 mana￿ement wpport Allwa*d on time 1.40i .410 AlloLaiL￿ on aLIIII 297 Estimdic of SP&ice 18) A]ltr￿ed on auditoiium aLtivity 340 205 Total 5UPPOrt costs excluding dcprtciation IseL column A in blL ￿lo￿vI 089 102 4.191 4,] 14 Towt tkprrtiation l.i85 li85 887 Estimate ot spaLe /Asset use Ttrtal Suppori Costs jffj74 102 5,776 i,001 42 THE ROUNDHOUSE TRUST NOTES TO THE F￿ANCIAL STATEMENTS FOR THE YEAR ENDED 31ST IIIARCH 2025 27. Irolltlnutdl A.%kKLI'SIS OF GOVER,%A.ICE A•iD SI.PPORT COSTS FOR ¥E.IR ENDED 31 IL4RCH 2024 Th¢ above Suppon and depFrtiaiion costs %Yre all￿ated the follo￿1ng arcas General Sllpport C0515 (Column Al £000 1.167 Deprttiafion Total 2024 TDWI 2023 lco1￿mn B) £000 £IK)o 1.373 £000 1.176 IK suppon of commercia] tradin8 operations (see Not¢ 61 In SUp￿rt ol- tund￿137￿E and publtcity. (See 61 In Support of chatitable a¢iiwiiics {SeL Note 7) 8) 197 2,91 4206 3.702 4.191 1,5&1 5.776 s.oul 43