**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**
1. The protection and preservation of the environment by reusing donated furniture and other household items that might otherwise go into landfill.
2. 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.
3. 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
Page 2
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:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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
- (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...
Page 8
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...
Page 9
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...
Page 11
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...
Page 12
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...
Page 13
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
Page 16
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