REGISTERED COMPANY NUMBER: 05065046 (England and Wales) REGISTERED CHARITY NUMBER: 1104867
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2021
for
Roundabout (West Midlands) Limited
Atkinson Chittick Limited Unit 2A Bruff Business Centre Bushbank Suckley Worcestershire WR6 5DR
Roundabout (West Midlands) Limited
Contents of the Financial Statements for the Year Ended 31 March 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | to | 7 |
| Notes to the Financial Statements | 8 | to | 15 |
| Detailed Statement of Financial Activities | 16 | to | 17 |
Roundabout (West Midlands) Limited
Report of the Trustees
for the Year Ended 31 March 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
-
The protection and preservation of the environment by reusing donated furniture and other household items that might otherwise go into landfill.
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To relieve financial hardship by reusing and distributing the same to such persons who are in conditions of hardship or need within the areas of Worcestershire, Gloucestershire and Warwickshire.
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To provide volunteering opportunities and to assist people with disabilities by the provision of vocational training in a work setting that develops work ethic, confidence and social skills.
Public benefit
In planning the activities for the year, the trustees kept in mind the Charities Commission's guidance on public benefit at the trustee meetings.
The focus of the activities remains the relief of poverty by recycling donated furniture, equipment and effects and distributing these to those in financial need. However, the Trustees are also increasingly aware of the public benefit of this work in reducing the amount of waste sent to landfill sites and reusing and recycling goods wherever possible.
Volunteers
The charity gratefully acknowledges the outstanding efforts of its many volunteers, without whom it would not be possible to continue the work.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Like all charities across the UK, Roundabout has been severely impacted by the Covid-19 pandemic. During the financial year under review Roundabout was effectively closed down for 7 months during the successive national close downs and although donations of furniture and retail sales were suspended and the volunteer work force sent home a small nucleus of the part time paid staff continued with furniture referrals providing essential furniture items to individuals and families in financial need throughout the Autumn and Spring.
During this financial year Roundabout collected 3724 items of donated furniture in the form of 562 collections a significant reduction on the performance of the previous year. Roundabout completed 174 referrals (deliveries) of furniture and other essential items to those in need across Worcestershire, North Gloucestershire and West Warwickshire, again a significant reduction in comparison with the previous year.
FINANCIAL REVIEW
Principal funding sources
During the period under review Roundabout has received significant Government funding as well as voluntary donations from the public.
Page 1
Roundabout (West Midlands) Limited
for the Year Ended 31 March 2021
Report of the Trustees
FINANCIAL REVIEW
Reserves policy
Reserves are required in order to provide a buffer should there be a downturn in fundraising and to provide staff security of employment.
The Roundabout trustees have directed that a minimum of 6 month's operations costs which equates to £60,000, plus an additional £25,000 should be held in reserve for the financial year.This money has been invested with United Trust Bank.
The trustees have directed that £30,000 is to be designated from the charity general reserves toward the replacement cost of a delivery vehicle.
The trustees have directed that £1,000 is to be designated from the charity general reserves towards a discretionary payment fund for referral clients.
The reserves policy is updated annually.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity was originally formed as an unincorporated association. On 5 March 2004 Roundabout (West Midlands) Limited, a company limited by guarantee, was formed and the work of the charity was transferred to this new company on 1 October 2004. Its objectives and regulations are registered by the memorandum and articles of association of the company, as amended last year by special resolution.
Recruitment and appointment of new trustees
Additional trustees may be appointed at the discretion of the Trustees.
Induction and training of new trustees
New trustees are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes and the financial situation of the charity.
Related parties
There were no related parties during the period under review.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
05065046 (England and Wales)
Registered Charity number
1104867
Registered office
7a Blackminster Business Park Blackminster Evesham Worcestershire WR11 7RE
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Roundabout (West Midlands) Limited
Report of the Trustees
for the Year Ended 31 March 2021
Trustees
Ms M J Sale Ms G Falkiner K F Barnes J Tew (appointed 27.8.20) (resigned 9.3.21) B D Darwood (appointed 27.8.20) S Yates (appointed 27.8.20) P J Smart (appointed 27.8.20) G Perkins (appointed 27.8.20) (resigned 18.2.21) P Blackwell (appointed 28.9.20) (resigned 1.4.21)
Company Secretary
Mrs T Brimm
Independent Examiner
Janet Chittick CA Atkinson Chittick Limited Unit 2A Bruff Business Centre Bushbank Suckley Worcestershire WR6 5DR
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 29 June 2021 and signed on its behalf by:
K F Barnes - Trustee
Page 3
Independent Examiner's Report to the Trustees of Roundabout (West Midlands) Limited
Independent examiner's report to the trustees of Roundabout (West Midlands) Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Janet Chittick CA Atkinson Chittick Limited Unit 2A Bruff Business Centre Bushbank Suckley Worcestershire WR6 5DR
30 June 2021
Page 4
Roundabout (West Midlands) Limited
Statement of Financial Activities
for the Year Ended 31 March 2021
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 10,406 Charitable activities Charitable activities 8,850 Other trading activities 2 57,338 Investment income 3 1,665 Other income 24,143 Total 102,402 EXPENDITURE ON Charitable activities Bedding purchased 440 Charitable activities 89,167 Other 13,887 Total 103,494 NET INCOME/(EXPENDITURE) (1,092) Transfers between funds 15 101 Net movement in funds (991) RECONCILIATION OF FUNDS Total funds brought forward 236,886 TOTAL FUNDS CARRIED FORWARD 235,895 |
Restricted funds £ - - - - - - - - - - - (101) (101) 101 - |
31.3.21 Total funds £ 10,406 8,850 57,338 1,665 24,143 102,402 440 89,167 13,887 103,494 (1,092) - (1,092) 236,987 235,895 |
31.3.20 Total funds £ 23,285 15,293 114,946 1,781 - |
|---|---|---|---|
| 155,305 7,215 111,584 30,230 |
|||
| 149,029 | |||
| 6,276 - |
|||
| 6,276 230,711 |
|||
| 236,987 |
The notes form part of these financial statements
Page 5
Roundabout (West Midlands) Limited
Balance Sheet
31 March 2021
| Notes FIXED ASSETS Tangible assets 8 CURRENT ASSETS Stocks 9 Debtors 10 Investments 11 Cash at bank and in hand CREDITORS Amounts falling due within one year 12 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 15 Unrestricted funds Restricted funds TOTAL FUNDS |
31.3.21 £ 10,514 2,630 20,665 88,136 116,432 227,863 (2,482) 225,381 235,895 235,895 235,895 - 235,895 |
31.3.20 £ 13,397 1,065 22,218 86,530 116,953 226,766 (3,176) 223,590 236,987 236,987 236,886 101 236,987 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 6
continued...
Roundabout (West Midlands) Limited
Balance Sheet - continued
31 March 2021
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 29 June 2021 and were signed on its behalf by:
K F Barnes - Trustee
The notes form part of these financial statements
Page 7
Roundabout (West Midlands) Limited
Notes to the Financial Statements for the Year Ended 31 March 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 33% on cost Fixtures and fittings - 20% on reducing balance Motor vehicles - 25% on reducing balance Computer equipment - 20% on reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
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Roundabout (West Midlands) Limited
Notes to the Financial Statements - continued
for the Year Ended 31 March 2021
2. OTHER TRADING ACTIVITIES
| 2. OTHER TRADING ACTIVITIES |
|||
|---|---|---|---|
| Sales 3. INVESTMENT INCOME Deposit account interest 4. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Hire of plant and machinery Independent examiner's fee for the year was £1,150 (2020: £1,150). |
31.3.21 £ 57,338 31.3.21 £ 1,665 31.3.21 £ 2,883 1,200 |
31.3.20 £ 114,946 |
|
| 31.3.20 £ 1,781 31.3.20 £ 3,717 807 |
|||
5. TRUSTEES' REMUNERATION AND BENEFITS Trustees' expenses 6. STAFF COSTS
No trustee received remuneration, benefits or expenses in the years to 31 March 2021 and 2020.
The average monthly number of employees during the year was as follows:
| Management and supervisory team No employees received emoluments in excess of £60,000. |
31.3.21 7 |
31.3.20 7 |
|---|---|---|
The total amount of employee remuneration received by key management personnel in the year was £26,501 (2020: £34,619).
continued...
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Roundabout (West Midlands) Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
| 7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 23,285 Charitable activities Charitable activities 15,293 Other trading activities 114,946 Investment income 1,781 Total 155,305 EXPENDITURE ON Charitable activities Bedding purchased 7,215 Charitable activities 111,584 Other 30,144 Total 148,943 NET INCOME/(EXPENDITURE) 6,362 Transfers between funds 3,608 Net movement in funds 9,970 RECONCILIATION OF FUNDS Total funds brought forward 226,916 TOTAL FUNDS CARRIED FORWARD 236,886 |
Restricted funds £ - - - - - - - 86 86 (86) (3,608) (3,694) 3,795 101 |
Total funds £ 23,285 15,293 114,946 1,781 |
|---|---|---|
| 155,305 7,215 111,584 30,230 |
||
| 149,029 | ||
| 6,276 - |
||
| 6,276 230,711 |
||
| 236,987 |
continued...
Page 10
Roundabout (West Midlands) Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
8. TANGIBLE FIXED ASSETS
| 8. | TANGIBLE FIXED ASSETS | |||
|---|---|---|---|---|
| Improvements | Fixtures | |||
| to | Plant and | and | ||
| property | machinery | fittings | ||
| £ | £ | £ | ||
| COST | ||||
| At 1 April 2020 and 31 March 2021 | 2,444 | 5,940 | 17,272 | |
| DEPRECIATION | ||||
| At 1 April 2020 | 2,444 | 3,552 | 14,625 | |
| Charge for year | - | 478 | 529 | |
| At 31 March 2021 | 2,444 | 4,030 | 15,154 | |
| NET BOOK VALUE | ||||
| At 31 March 2021 | - | 1,910 | 2,118 | |
| At 31 March 2020 | - | 2,388 | 2,647 | |
| Motor | Computer | |||
| vehicles | equipment | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At 1 April 2020 and 31 March 2021 | 51,746 | 21,416 | 98,818 | |
| DEPRECIATION | ||||
| At 1 April 2020 | 47,678 | 17,122 | 85,421 | |
| Charge for year | 1,017 | 859 | 2,883 | |
| At 31 March 2021 | 48,695 | 17,981 | 88,304 | |
| NET BOOK VALUE | ||||
| At 31 March 2021 | 3,051 | 3,435 | 10,514 | |
| At 31 March 2020 | 4,068 | 4,294 | 13,397 | |
| 9. | STOCKS | |||
| 31.3.21 | 31.3.20 | |||
| £ | £ | |||
| Finished goods | 2,630 | 1,065 |
continued...
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Roundabout (West Midlands) Limited
| Notes to the Financial Statements-continued for the Year Ended 31 March 2021 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors VAT Prepayments 11. CURRENT ASSET INVESTMENTS Other Current asset investments represent a cash three year charity bond. 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 13) Trade creditors Social security and other taxes Accrued expenses 13. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank overdrafts 14. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restricted fund funds £ £ Fixed assets 10,514 - Current assets 227,863 - Current liabilities (2,482) - 235,895 - |
31.3.21 £ 3,931 11,860 2,875 1,999 20,665 31.3.21 £ 88,136 31.3.21 £ - 220 920 1,342 2,482 31.3.21 £ - 31.3.21 Total funds £ 10,514 227,863 (2,482) 235,895 |
31.3.20 £ 3,694 13,500 2,608 2,416 22,218 31.3.20 £ 86,530 31.3.20 £ 246 383 716 1,831 3,176 31.3.20 £ 246 31.3.20 Total funds £ 13,397 226,766 (3,176) 236,987 |
||
|---|---|---|---|---|
The stock control project was to computerise the stock control and integrate this with the accounting function. This work is now complete.
The Wychavon Homeless Prevention Fund represents funds received from Wychavon District Council to provide referrals to their residents. . This fund has now been fully utilised.
continued...
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Roundabout (West Midlands) Limited
for the Year Ended 31 March 2021
Notes to the Financial Statements - continued
14. ANALYSIS OF NET ASSETS BETWEEN FUNDS - continued
The trustees have designated part of the unrestricted funds as follows: six months operating costs £60,000 and replacement cost of a delivery vehicle £30,000.
15. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Wychavon Homeless Prevention Fund TOTAL FUNDS Net movement in funds, included in the above are a Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Stock Control Project Wychavon Homeless Prevention Fund TOTAL FUNDS |
At 1.4.20 £ 236,886 101 236,987 s follows: At 1.4.19 £ 226,916 332 3,463 3,795 230,711 |
Net movement in funds £ (1,092) - (1,092) Incoming resources £ 102,402 102,402 Net movement in funds £ 6,362 (86) - (86) 6,276 |
Transfers between At funds 31.3.21 £ £ 101 235,895 (101) - - 235,895 Resources Movement expended in funds £ £ (103,494) (1,092) (103,494) (1,092) Transfers between At funds 31.3.20 £ £ 3,608 236,886 (246) - (3,362) 101 (3,608) 101 - 236,987 |
|---|---|---|---|
continued...
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Roundabout (West Midlands) Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
15. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Stock Control Project TOTAL FUNDS A current year 12 months and prior year 12 months Unrestricted funds General fund Restricted funds Stock Control Project Wychavon Homeless Prevention Fund TOTAL FUNDS |
Incoming resources £ 155,305 - 155,305 combined position is as follows: Net movement At 1.4.19 in funds £ £ 226,916 5,270 332 (86) 3,463 - 3,795 (86) 230,711 5,184 |
Resources Movement expended in funds £ £ (148,943) 6,362 (86) (86) (149,029) 6,276 Transfers between At funds 31.3.21 £ £ 3,709 235,895 (246) - (3,463) - (3,709) - - 235,895 |
|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Stock Control Project TOTAL FUNDS |
Incoming resources £ 257,707 - 257,707 |
Resources Movement expended in funds £ £ (252,437) 5,270 (86) (86) (252,523) 5,184 |
|---|---|---|
continued...
Page 14
Roundabout (West Midlands) Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
16. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2021.
Page 15
Roundabout (West Midlands) Limited
Detailed Statement of Financial Activities for the Year Ended 31 March 2021
| Detailed Statement of Financial Activities for the Year Ended 31 March 2021 |
||
|---|---|---|
| 31.3.21 | 31.3.20 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 2,521 | 3,239 |
| Gift aid | 7,885 | 20,046 |
| 10,406 | 23,285 | |
| Other trading activities | ||
| Sales | 57,338 | 114,946 |
| Investment income | ||
| Deposit account interest | 1,665 | 1,781 |
| Charitable activities | ||
| Referrals | 4,522 | 7,985 |
| Recycling credit scheme | 4,328 | 7,308 |
| 8,850 | 15,293 | |
| Other income | ||
| Covid grants | 24,143 | - |
| Total incoming resources | 102,402 | 155,305 |
| EXPENDITURE | ||
| Charitable activities | ||
| Bedding & furniture purchased | 5,984 | 7,215 |
| Other | ||
| Hire of plant and machinery | 1,200 | 807 |
| Sundries | 1,363 | 3,540 |
| Telephone | 58 | 228 |
| Advertising | 210 | 315 |
| Post and stationery | 1,197 | 2,515 |
| Repairs | 648 | 1,136 |
| Volunteer expenses | 633 | 3,705 |
| Insurance | 1,903 | 1,229 |
| Motor expenses | 3,772 | 13,014 |
| Plant and machinery | 478 | 597 |
| Fixtures and fittings | 529 | 662 |
| Motor vehicles | 1,017 | 1,354 |
| Computer equipment | 859 | 1,105 |
| Interest payable on late PAYE | 20 | 23 |
| 13,887 | 30,230 |
This page does not form part of the statutory financial statements
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Roundabout (West Midlands) Limited
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 March 2021 | ||
| 31.3.21 | 31.3.20 | |
| £ | £ | |
| Support costs | ||
| Information technology | ||
| Computer expenses | 421 | 841 |
| Governance costs | ||
| Wages | 42,487 | 69,335 |
| Pensions | 435 | 379 |
| Premises expenses | 36,284 | 37,648 |
| Bank charges | 418 | 1,011 |
| Independent examination | 1,150 | 1,150 |
| Professional fees | 2,428 | 1,220 |
| 83,202 | 110,743 | |
| Total resources expended | 103,494 | 149,029 |
| Net (expenditure)/income | (1,092) | 6,276 |
This page does not form part of the statutory financial statements
Page 17