HIGHBURY ROUNDHOUSE ASSOCIATION LIMITED (A company limited by guarantee) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Charity Number: 288370 Company NuD)ber: 1759460 *A8J7ZIIE• 1911212022 COMPANIÉS HOUSE A13
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HIGHBifRY ROUNDHOUSE ASSOCIATION LIMrrED (A COMPANY LIMrrED BY GUARANfEE) INDEX TO FINANCIAL STATEMEIYTS YEAR EIYDED 31 MARCH 2022 Contettts P2ge Report of the Trnstees Independent Auditors. Report Statem¢nt of Financial Activities 16 Balance Sh¢et 17 Stsiement of Cash Flows 18 Notes to the Financial Statement5 19-29
HIGHBURY ROiJNDHOUSE ASSOCIATION LIMfTED (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES YEAR ENDED 31 TrtARCH 2022 The trustees are pleased to present their annual directOTS' Teport togetheT with the financial statements of the charity, which also prepar¢d to me¢t th¢ requirements ftlr a directors. report and accounts for Companies Act purposes. The financial stsl¢m¢nts comply with the Charities Act 2011. the Companies Act 2006, the Memorandum and Articles of Association and Accounting and Reporting by Charities.. Statement of Recommended Pr&ctice Applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (Charities SORP (FRS 102)). (effective 1st January 2019) The Highbury Roundhouse was fornjed to provide, maintain and develop a rang¢ of social, educational and recreational opportunities for people living and working in Highbury and the surrounding area. In particular, we provide a youth club for young p¢opl¢ betw¢en the ages of I I to 19. We also provide pensioners, clubs for older people,. activities for under-five's. extended s¢hcM)I seryices, after school clubs and support various userlself- help groups. By the provision of the above. we aim to enhance and develop the inhabitants, physical, m¢ntal and moral capacity, so they are able to contribute positively io society and theby. improve their quality of life. Our aims fully r¢fle¢l the purpose that the organisation was set up to further and has regard to the Charity Commission's guidance on public benefrt. The organisation is grateful for th¢ ¢fforts of its volunte¢rs who work an av¢rnge twenty-five hour5 per week, for fify weeks, in different areas of our work. It is estimated that over 1.250 volunteer hours were provided during the year. If this is conservatively valued at £13.86 an hour the volunteer efforts amount to £17,325. Ther¢ has been no Change in the poli¢i¢s adopted to a¢hiev¢ our charitable ObJtIves. STRATEGIC REPORT The following statements form part of the company's strdtegic retMIrt Achievements and performance Financial review Plans for futuff periods ACHIEVEMENTS AND PERFORMANCE We Currently use three different buildings to accommodate our groups and deliver some of our work and will continue to do so. until we are able to move into our new building. We may continue to use some of the buildings afier we have moved. unfortunately due to the COVID-19 pandemic. the buildings were Closed for part of th¢ year. Covid- 19 Res onse For the first part of the financial year, the UK still in lockdown. The restrictions w¢re lifted gradually ov¢r a number of months. By October 2021 all of our Services had opened fully. Numbers in some projects h&ve reduced. but we were ple&sed to have all our Services up and running again. Som¢ of our s¢rvi¢¢s such as. Holiday playscheme5 and youth club continued. Throughout the year we worked continuously with Islington Council to provide after school clubs and services for older people. Ensuring that we adhered to Government guidelines at all time5. Fortunately. both Islington Council and the Government were very helpful. The support mechanism introduced to assist Charities and other organisations was extremely helpful. The organisation was able to access the Government furlou8h scheme. until it erbded in September 2021. This ensured that we did not need to iwnplement any redundancies during the pandemic. Islin8ton Council continued to suppx)rt organisations
HIGHBURY ROUNDHOUSE ASSOCIATION LIMrrED {A COMPANY LIMtTED BY GUARANfEE) REPORT OF THE TRUSTEES YEAR EIYDED 31 MARCH 2022 in the borough by continuing to pay their grants. This assistance was extremely helpful. as it meant that not all our staff where furloughed and we were able to meet the full cost of staff holidays during the year. We also continued to place staff on training and other courses. In additional to this, we had to incur the additional costs of heating and to secure our new building. Funders also offered a helping hand and provided organisations with additional funding. which Tneant that we were able to continue to meet other operational costs, such as light, heat, telecommunications, loan paYrnents and others. The year ended with m05t of our services ba¢k, some of our users back and we now have an agreed plan to compl¢t¢ th¢ construction of our new building. One of the unintended benefits of the COVID- 19 pandemic was to force the organisation to look at difterent ways it could provide service5 and to advi)cate cost savings, it may not have considered before. We mentioned in last year's report that we believed. that opportsnities will come from this terrible pandemic. We must learn and take advantage of any lessons learnt. Lessons w¢re learnt and we have made some operational changes in the way we deliver services and manage our core administrative functions. For example, we will continue to us¢ Zoom and other models to hold meetings and some staff will continue to work from home, even when we move into our new building. We will continue io evolve and learn. which should help us to better understsnd and meet the needs of our cotnfflunity. Durin8 the year we also implemented the following measures: Our fundraising strategy rused on COVtD- 19 trusts and sources of additional help for charities. Revised our budget during the year and monitored inwme and expenditure monthly. Completed a review of costs. Ensured that we adhered to th¢ Government guidelines and only opened when it was safr to do so. Worked closely with Islington Council to ensure that our services and the premises that we use were safe. R¢viewed our risk &ssessments and considered our Risk Management policy. for knth the new building and our operation. Ensured that our stsff received appropriate Personal Protective Equipment PE) and training. Enabled staff to work from home where rKissible. We litnited access to our head office and ensured social distancing was adhered to at all times. Accessed financial assistance from the Government and other sources where possible. Reviewed our marketing and the use of multi-media tools Created our first newsletter. which provided inforn)ation on what is happening and servi¢e5 We kept all our fees and ¢horges to ihe minimum We ¢ncoura8ed staff where possible to undertake fvrther training Ensuring that most projects keep within their allocated spend profile New Communi Buildin under Constru¢tion The building is due to be completed by the end of September 2022 and open in October. This final phase is expected to cost around £145,000. which includes construction costs of the additional fire measures fees for the proj¢¢t team. We are in negoiiations with funders for the balanct of the funds. W¢ have managed to secure a furrher advance of £IOO,000 from CAF Bank. This will be added to the existing loan, we have with the Bank. We will also need to r¢ctuiI additional staff and be prepared to meet the additional operntional costs of maintaining the new building. We are actively promotlng the opening of the new community resource. this work is being led by our Business Development Managerand others in our admin 5UPPOrt team. We would encourage you all to come and see the new building and shar¢ your experience with a fri¢nd. There are a numbcr of things you can do. frorn having an early Tnorning breakfast to a late lunch with friends and colleagues or participate in the many activities we expect to deliver from the new building.
HIGHBiJRY ROUNDHOUSE ASSOCIATION LIMITED (A COMPANY LITrLITED BY GUARANTEE) REPORT OF THE TRUSTEES YEAR ENDED 31 MARCH 2022 How and to whom our activilies deliver ublic benefit and im act W¢ are pleased to report another successful year, even while dealing with the pandemic for the first six months of the year. Our main activities have remained unchan8ed i.e., work with children. young people, older people and families. We encourage members of BAME groups to access our services and work to ensure that our service5 are accessible to all. Services to older We manage th¢ Soth¢by Mews Day C¢ntr¢ on behalf of Islin8ton Council. The centre provide5 meals and activities to older people at subsidised rates. The project also provides a rdnge of activities and trips throughout the year for members. Unfortunately. the project was closed for the first quarter of the year, but did provide welfare checks on members. Services began to resume a5 the UK opened to ihe public. we started SeIng meals in June and by September we wer¢ delivering a full service again. W¢ on¢¢ again, w¢r¢ able to provide services. su¢h as keep fit ¢1osses, musi¢ and moveTnenL film club, outings. and a memorable Christmas party, to make up for the lost years. Some of th¢ activities were free, others required a small charge. Classes and group attendance continue to rise. we ended the year. with numbers in attendance reminiscent of earlier yea. We have drawn up an action plan. which w¢ h#v¢ already implemented and working with the members. We also anticipate that th¢ n¢w building will be complete at the end of September 2022. We will need to consider how we will deliver the service from the new buildin& if the Council decide to clos¢ Sotheby Mews. We are happy to continue to deliver services from Sotheby Mews. as long as we are able to do so. If we are required to mov¢ frotn thai location. we will do what w¢ ¢an to accommodate our users. Our newly appointed Business D¥velupmeni Manager. will be tackling thi5 challenge with the Services Manager. The new space will offer greater opportunitie5 for intergenerdtional activities for all ages. nnual famil fvndrnisin event Due to the pandemic our annual Hall0vn event was wicelled again durin8 the y¢ar. W¢ expect to be able to d¢liv¢r the event from on new building in October 2022. We will aim to make up for the loss of the past two year5 and ensure 2022. is a spectscular event. We will also deliver a at least two further events during the year. Under-five's Services We have two projects that aim to deliver services to under-fives, our Childminders, project and Stay and Play group. The aim of the service is to provide infomiation on how ¢hildmind¢rs and other practitioners can meet the requirements of th¢ Early Yeor's Foundation Stage. Farly years. praciitioners are required by Ofsted to implement the EYFS framework within their setting to plan activities and extend children's learning. The early year's manager gives guidance to childminders and carers. about the importance of using "Birth to Three Matters" frarTtework. how it 15 Used and how it can influence the outcotnes for the children in their care. Our Stay & Play project has attracted a f¢w dads, who now attend the proj¢¢i on a r¢gular basis. The proj¢cts aim to d¢Siv¢r a number of group activities during the year. with plenty of singin& storytelling and circle time. We always aim to celebrdte culturdl events and this year the children created Chinese Illnterns. We also encouraged parents to enrol on a free first aid course. organised by Islington Early Years and provide th¢ childminders with a calendar of training courses and other job opportunities. Unfortunately. the group was closed for the first quarter of 202112022. due to the coronavirns pandemic. The service re-opened, in June. in line with Govemment and Islington Council guidelines. The services continue to be very popular. with new members registering. We will of ¢ourse provide you with more information on service delivery in the 2022 annual report. We are also working on plan to deliver the service from our new community building, the project most certainly has a bright future.
HtGHBURY ROIJNDHOUSE ASSOCIATION LIMITED (A COMPANY LIKITED BY GUARANTEE) REPORT OF THE TRUSTEES YEAIi ENDED 31 MARCH 2022 Out of School Services Highbury Roundhouse manages a number of after school and enrichment clubs across the borough for schools. The clubs ar¢ subsidised by grants from Islington Council. The grants provid¢d by the Council ensure that the service is affordable for parents. We achieve ihis by offering concessions to families on low incomes. The classes can b¢ dan¢¢. drama, football, gymnastics, karate, boat Clubs. swimming and much more. We are able to access additional funding to subsidise th¢ clubs fvrther, so that more children are able to access the classes. We cuentlY work in partnership with four schools across the Borough. During 202112022. most of the clubs were still closed, but did open fully in September 2021. During the year we supported over 800 children. this is still a reduction on the earlier years. due to the COVID- 19 pandemic. For the first quarter our staff ratios were high and numbers of ¢hildren attending low. due to the need to keep the children in bubbles. W¢ also offered a number of free places to vulnerabl¢ families in ne¢d and w¢r¢ Able to apply for assistance to deliver the services from Islington Council. which undetrwrote the deficits on the holiday provision. Staff development and training of our extended schools. team. continued throughout the year. Highbury Roundhouse also provides a number of playschemes. 600 children manag¢d to enjoy and access our services over the holidays. We were able to access Council funding to provide concessions for families, we also have a sibling rate, which is important when registerinE more than one child. The children are able to enjoy many outdoor and indoor sports. such as.- f(x)tball games, bike-ridin& badminton. archery. circus skills. Unfortunat¢ly) due to COVID - 19. the trips were cancelled for part of the year. The proj¢ct would normally enjoy trtps to places such as= kayaking, trips to the seaside, trampoline. Islington Ecology Centre, London Ey¢, London Transport Museum, horse riding at L¢¢ Valley. Parndis¢ Wildlife Park, and much more. We will be wurking very closely with Islington Council. to deliver the service in post LOVID-19. Youth Club Due to COVID- 19. the building where we deliver our young club, was closed for part of the year. That did not stop us from continuing to provide s¢rvic¢s to young people. We have b¢¢n able to support yout18 p¢ople, via virtual and later in the year via a faCe-tfXce offer. which was resumed. We have reached out to over I l O young people during the pandemic. We have guided those who needed our support with regular phone calls and welfare checks. We have delivered outreach support ses5ion5 on doorsteps to the more vulnerable members of our community ond engaged targeted youth agencies to help support young people through issu¢s such as bereavement. Mentoring and l= I Support We continue to deliver our l.. I session on a weekly basis as it allows us io support YP on a personal level and helps us understand their needs and int¢r¢st to be able plan proj¢cts that addresses local needs. Part of the l= I support we use diagrarn and questionnaires that YP complete to enable us to achieve the above and lo map the journey of a young person in our seThice to measure impact. It enables the youth workers to forni and build a relationship to ensure we are having meaningful engagement with young people. Thts approach helps us to provide a more targeted service to them. Employability We currently have an inhouse Mini l.T suite with 5 laptops purchased last year. This has enabled our more vulnerable youn8 peopl¢ to acc¢ss the youth Club and use this r¢sourc¢ to work on their CV, assignments and homework. We deliver CV workshops every other weeK howev¢r our young people know they can &sk for extra help and guidance throughout their time with us. One young person who attended our employability.. CV workshop has been hired at Bubbleology. We worked with this young person to create hi5 CV and had 1=1 sessions to boost his confidence on how to Cotnpose oneself in an interview.
HIGHBURY RoifNDHOUSE ASSOCIATION LIMrrED (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES YEAR ENDED 31 MARCH 2022 Volunt¢¢rs: Duk¢ of Edinburgh awards At the moment we have two volunteers from Highbury Fields school volunteering with us as part of their Duke of Edinburgh awards. It is a privilege to be part of our young peoples. achievements. helping thetn achieve their goals. Keep Fit Physi¢al health and well-bein& is part of our keep fit session. this allows young people to use this equipment during the tern) opening hours. We have incorporated boxing with the pur¢hase of a blown-up pun¢hing bag. The Stress Project Offered by the Holloway Neighbourhood Group: The Stress Project therdpy group. they are currently delivering a Mindfulness Course with our young people in partnership with Islington youth providers. As you may know. iVlindfulne5S IS & technique that can help people break away from negative thought patt¢ms and help manage anxiety, stress and depression. This coutse focuses on creatTve, and practical techniqu¢s that get young people involv¢d in the pra¢ti¢e. We're keen to get more young peopl¢ inter¢st¢d in and using Mindfiilness to help manage their own mental health. Leap: Confronting Conflicts Leap confronting conflicts are back again working in partnership with us for a fiv¢ weeks projec¢ this workshop is designed to give young people the skills to effectively navigate conflict. It pmvides the tools to foster healthy relationships. make FMlSitive decisions and inspire self_growth and confidence. Trips & Events After sume stressful time with Covid. we had the charftce to take our young people on a trip. We E4)oked the "LondonTootbus" sightseeing tour- although local most of young people we work with are from a deprived background who hav¢ nev¢r had the chance to explor¢ sights in their own city. This turned out to be a beautiful day building a stronger relationship with them. while exploring the in¢r¢dibl¢ sights of London together. Bronze Quality Mark Highbury Roundhouse youth club has qualified for the BRONZE QUALITY MARK from London Youth. The Quality Mark is a quality assurance framework providing our organisation with a badge of excellence. Ei has been designed to establish a recognised level of quality across any grouplorganisation that 15 delivering youth work. The London Youth Quality Mark achievement proves that our organisation is valuable &nd indispensable part of the local community. It is a badge of recognition. which demonstrates our capacity to engage with other grOuporganIsatIonS to work in partnerships and to deliver services. More importantly, it highlights that our young people service is UP-t(Hlate with its policies and procedures, meets legal requirements and provides a Safe. welcorning environment for young people. N¢w building opening- October We are full of excttement forthe opening of the new building in early October. This will open many new avenues for the youth club and will allow us to run a full-time programme for our young people. User ou One of th¢ many ways that we work with local people is to assist users to provid¢ a range of services and activities that are of interest to local people. This can be dance projects. kardte. pilates and special interest groups. The organisation hires out the facilities. at reduced rates to assist groups. We often use core income streams and fundraising to subsidise these 0Up$. We are always looking at ways of increasing our user groups and happy to explore new ideas and projects thal will b¢nefit l(Kal people.
HIGHBURY ROitNDHOUSE ASSOCIATION LIMfTED (A COMPANY LIhllTED BY GUARAIYTEE) REPORT OF THE TRusfEES YEAR ENDED 31 MARCH 2022 FINANCIAL REVIEW The year ended 31 March 2022 was a difficult year. however the organisalion managed to produce and maitttain a balanced budget. This was noi without di1¢u1ty. th¢ organisation was fortunate and was able to relay on th¢ support of Jslington Council and th¢ Government Furlough scheme. This support ensured the organisation remained financially viable. The financial perforTnance for the year was a surplus of £55.738 (2021.. £54,660). This consisted of a surplus on unrestricted funds of £43.046 (2021.. £48.897) and a surplus of restricted funds of £12.692 (2021-. £5.763). Princi al Fundin Source5 and Income Generdtion The organisation's income for the year increased 10 £781,342 (2021-. £666.819). Income from fees & charges increased to £313.110 (2021= £76,397). In¢om¢ from lettings increased to £17.911 (2021.. £69). The income is expected to continue to grow as the country rethrns to nonnal aft¢r the pandemic. The opening of the new building also provides several opportunities to in¢rtose income. The organisation received £295.801 (2021.. £327,864) from Islington Council to deliver several projects under Servi¢¢ L£vel Agreements. Income from restricted funds increased to £644.725 (2021.. £581.593) and expenditure increased to £632.033 (2021- £575,830). This resulted in a net Inflow in restri¢t¢d funds for th¢ y¢ar of £12,692 (2021: £5.763). The main reason for the change in restricted funds wa5 du¢ to the ruced services delivered during the COVID - 19 pandemic. The details of the movement in restricted funds can be seen in note 13 of the financial statements. There was an increase in interest received to £39 (2021: £12). The organisation has completed a budget for 202W2023. which indicates a balanced budget for the year. Investment Polic The organisation continues to be prudent in the way it manages its funds and a][ cash is held in. on-demand deposit a¢¢ounts. Fundraisin The trustees have reviewed the fundraising arrangements and ihe revised budget for 202212023 and considered the return on fiEndraising costs. Fundraising costs were £14.186 (2021.. £2.775}. The increase in fundraising costs was due to the allocation of core costs of fundraising for the new building. The increase during the year has been Considered against the organisalion's fundraising plans and is considered to be appropriate. The organisation continues with its poli¢y of attracting fijnding from different sources. The organisation's budget for 202212023 has indicated that additional funds will be required to sustain a number of projects and meet the repayments of the social investment loans. The trustees have considered the budget and indicate that it is achievable. Cash Re rve and Goin Concern The trustees are of the view that the organisation should mainiain a certain level of cash reserves to protect against drops in incotne and to lake advantage of any new opportunities that Jnay arise. Th¢r¢ is 110 spe¢ific legal requirement to maintain a defined amount of cash reserves (although three months of operating expenses is often quoted)- The cash reserve policy specifies an appropriate minimurn amount of cash reserves to be held. If the cash reserye level is set too hi8h, it ¢an make fi]ndraising more difficult a5 it may appear that HRH is hoarding cash so is not focused on front line service delivery. Conversely. setting the minimum cash reserve level too low may make HRH look vulnerable or appear that HRH is suffering from POOT financial management control.
HIGHBURY ROUNDHOUSE ASSOCIATION LIMrrED {A COMPANY LI[rTED BY GUARANTEE) REPORT OF THE TRUSTEES YEAR ENDED 31 MARCH 2022 The cash reserve policy rquires that a series of trigger levels are set based on one month of core expenditure plus a r¢dundan¢y res¢rve as follows: Green.. cash reserves higher than 3 months of core expenditure plus redundancy reserve Atnber.. cash reserves are between I month of core expenditure plu5 redundancy reserve and 3 months of core expenditure plus redundancy reserve R¢d: cash reserves are below I month of core expenditure plus redundancy reserve. Each trigger level requires a different set of responses as follows: Green (no Cause for concern)= No action required Cash reserve levels ar¢ monitored on a monthly basis ATnber (heightened awareness).. Cash reserves are below d¢sired level Any capital expenditure to be approved by the TTUStees laterial (greater than £2.000) non4iscretionary revenue expenditure to be approved by the Trustees Cash reserye requirements continue to be monitored on a monthly basis Red (cause for concern)". All capital expenditure stopped All material non-discretionary revenue expenditure stopped Director to prepare a fundraising plan clearly arttculating the necessary steps to increase cash reserves back to desired level Fundraising plan to be approved and monitored by the Trustees Increase monitoring frequency to weekly The trustees are satisfied that the organisation has sufficient funds to meet its operational commitments. As at Ihe reporting date the cash balance5 were £131.891. which resulted in a green (no cause for concern) status. Th¢ trusl¢¢s are satisfi¢d that the organisation has sutTi¢ient funds to meet its r¢serves policy. Plan for fLtture Period5 The organisation regularly reviews its work and makes improvements where necessary. The plans for the futur¢ include.. Seek additional funding to support our projects and to deliver additional services. Re-establish the work done by our user groups. Ensure that we deliver our service5 in line with the Government COVID- 19 guideline5. Deliver After School & Youth Club activitie5. at diff¢r¢nt locations and work with over 2,000 childr¢n, young people, and their families. Complete our new ¢otnmunity building. Provide support to our ward partnership meetings. Develop servic¢s for early year's children and their families. Consult and work with our members and users with the transition into our new building. Recruit additional staff. once our new building is complete. These are just SOTne of the developments planned for the coming year. The organisation has Tnade considerable proEress in its efforts to Etcome an independent cornmunity centre and is committed to d¢liv¢ring new and innovative projects for local people.
HIGHBURY ROUNDHOUSE ASSOCIATION LI[[rED (A COMPANY LIMrrED BY GUARANfEE) REPORT OF TItE TRUSTEES YEAR ENDED 31 MARCH 2022 Reference and *dmiDistrative details Highbury Roundhouse Association Limited REGISTERED OFFICE AND OPERATIONAL ADDRESS 71 Ronalds Road London N5 IXB REGISTERED CHAIUTY NO: 288370 COMPANY REGISTRATION NO.. 1759460 (England & Wales) BOARD OF TRUSTEES: Neville Cowion Chair Anthony Miller Andrew My¢r Scott Wadlow Sard Zavalets Steffan Taylor Amy Ellington Martin Jones Rory Leyne Rob Allum . Company Secretary - D¢puty Chair - Treasurer - ReSied 2514r2022 - Appointed 301612022 - Appointed 251412022 BANKERS.. Lloyds Bank PIC 31133 Holloway Road London N7 8JP AUDITORS: Perlin Franco Limited Chartered Accountants & Statutory Auditors Solar House 915 High Road North Finchley iA)ndon Nl 2 8QJ Russell Cooke SOLICITOR: 2 Putn¢y Hill Lndon SW15 6AB SENIOR MANAGEMwr TEAM: Andrew Berthi¢r Chief Executive Savanah Popal Julie Day Nigel Williams Ruth Allen Lesley Palling Camiel Zanre Ndidi Okoye Dinisha Shibnauth Felda Capaldi - Head of Services Extended school services coordinator - Older people's services manager - Out of school services manager Out of school services manager - Under-five's services manager - Young people's services manager Out of school servi¢es manager Business Development Manager
HIGHBURY ROIINDHOUSE ASSOCIATION LtMrrED (A COMPANY LtMITED BY GUAJiANfEE) REPORT OF THE TRUSTEES YEAR ENDED 31 MARCH 2022 STRUCTURE GOVERNANCE AND MAIYAGEMENT Governin Do¢ument The Highbury Roundhouse is a charitable company limited by guardntee and was set up in 1974 by a group of local people. The organisation was first regtstered as a charity on 27th January 1978, under the name of Highbury Roundhouse Group and was incorporated on 6th October 1983. The company was established under a Memorandutn of Association. which incorpordted the objects and powers of the charitable company and is Eovem¢d und¢r its Articles of Association and constitution. The charity has no share capitsl. each member's guarantee is limited to £1. Recruitment and A ointment of Trnstees The dir¢¢tors of the company are also charity trustees for the purp)ses of charity law and under the company's ArtT¢les are known as members of the Management Committee. M¢mbers of the Management Committee retire by rotation annually at the organisation's AGM And can be re- elected by the members. All Members of the Management Committee give theirtime voluntarilyand receive no payment from the charity. Any expenses reclaimed from the charity are set out in not¢ 8 to the accounts. The organisation's work 15 focused around working with children. young people, and the elderly. The Management Committee seeks to ensure thai the needs of all th¢s¢ groups are appropriately r¢fl¢ct¢d through the diversity of the truslee body. The organisation a¢tiv¢ly en¢ourag¢s local people and users of its services to becorne members of th¢ Mana8¢ment Committe¢ at the AGM. Where particular ski115 are required. the organisation would approa¢h individuals with the appropriate skills, to see if they would offer themselves for election to the Management Committee. Trustee InductiorE and Trainin Most trustees are already familiar with the work of the charity having been involved in some way, either as a user or provider of services. New trnstees are invited and encouraged to attend a Short training session of no more than an hour to familiari5e themselves with the organisation. These sessions are jointly led by the Chair of the Management Committee and the CEO and cover: The obligations of Management Committee membeTS. The main documents. which set out the operational framework for thecharity including the Memorandum and Articles of Associaiion. Dis¢ussion of the organisation's latest annual report and audited accounts. Future plans and obje¢tives. Safeguarding. (All trust¢es ar¢ required to undergo Safeguarding trdining) The charity also circulates a copy of the Commission's guid¢ "the Essential Trustee" along with a ¢opy of the Memorandum and Articles of Association and th¢ latest financial statements to all trustees. Risk Mana ement The trustee5 have ov¢rall responsibility for ensuring that the organisation has appropriate systems of control, financial and otherwise. The day-to-day operation of this is delegated to the CEO. Tru5tee5 are also respollsible for Safeguarding the assets of the charity and hence for tsking reasonable stcps for the prevention and d¢t¢¢tion of fraud and other irregularities. They also provide reasonable assuTxnces to the best of their knowledge that.. The ehority is operating efficiently and effectively-
IUGHBURY ROUNDHOUSE ASSOCIATION LItED (A COMPANY LIMrrED BY GUARANTEE) REPORT OF THE TRUSTEES YEAR ENDED 31 MARCH 2022 Its assets are safeguarded against unauthorisd use or disposition by the application of 5yStems of int¢mal Proper ordS are maintained and financial inforniation used wtthin the charity or for publication is reliable: The charity Complies with relevant laws and regulations The systems of internal control are designed to PTovide rwonable, but not absolute. wurdnce against material misstatement or loss. They include". An annual bud8et approved by the trustees" Regular considerdtion by the trustees of financial information: Delegation of authority and segregation of duties. Identification and management of risks The trustses review risk management to assess financial risks and implement risk managemenl strategies where appropriate. This will involve identifying the type5 of risk5 the charity faces, prioritising them in ternis of potential impact and likelihiK>d of occUenCe. and identifying means of miligating the risks. Significant external risks to funding have led to the development of an activ¢ programme. which will enhance the diversification of funding and services. Internal risks are minimised by the implementation of procedures for authorisation of all transactions for projects and the core function. Procedures are in pl¢ to ¢nsure ¢omplianc¢ with health and safety of staff, volunteers, users and visitors to sites where we deliver services. We regularly work to improve our Ofsted ratings wherever we deliver Out of School Services. Three of the organisatlOll'5 Out of School Clubs are rated Outstanding by Ofsted. anisational Stru¢tur¢ The trustees meet monthly where the management committee review strat¢gy 2nd perforn)ance and set operational plans and budgets for the year. For the rep)rting period, there were 8 members of the committee, at present the committee has 10 members from a variety of professional background5. The organisation has a Youth Club suEFcommittee which is made up of trustec5 and other individuals. The sub- committee operate under specific ternis of referenc4 which delegate certain functions from the Irustee's board. The management committee have delegated authority to the following sub-committees.. New Buildin8 Construction sub-committee- Chair Anthony Miller Youth Club su&committee- Chair Steffan Taylor The sub-committees operate under sp¢¢ifi¢ temis of r¢fer¢nce that can be ratified by the full Board. A syst¢m of d¢legation is in place and day-to-day reskM)nsibility for the provision of services rest with th¢ CEO along with the senior management team. The CEO is responsible for ensuring that the organisation delivers the services specified and that k¢y rforn13ncc indicators are met. io
HIGHBURY ROUNDHOUSE ASSOCIATION LINifrED {A COMPANY LIMrrED BY GUARANTEE) REPORT OF THE TRUSTEES YEAR ENDED 31 MARCH 2022 lo e¢ Involvement and Em lo ¢nt of the Disabled Employees are consulted on issues of concern to them by mean5 of regular staff meetings and are kept infomied on specific matters directly by the senior management leavn. Whenever possible the organisation Carries out exit interviews when staff leave and has a procedure of upward feedback to trustees. The organisation has a number of detailed policies in r¢lation to aSpts of personnel matter5 including.. Equal Opportunities policy Volunteers, policy Health & Safety policy Confidentiality policy Whistleblowing policy Children and Young People Safeguarding policy Adult Safe8uardin8 policy In accordance with the charity's equal opportunities PKJlicy, the charity has lon8 estsblished fair employment practices in the recruitmenl selection, retention and training of stsff. The chartty is committed to the principles of the IslinEton Fairness Commissson. Full d¢tsils of these policies are available from the organisation's registered office. Remuneration of k mana ement rsonnel The pay of the Senior Management team and all staff are reviewed annually during the setting of the &nnual budget and nornjally increased in accordance with average eamin8S to reflt a cost of living adjustment. The bud8et is agreed by the trustees. TRUSTEES RESPONSIBILTfiES IN RELATION TO THE FINANCIAL STATEMENrs The trustees who are also the directors for the purp05e5 of company law are responsible for ensuring the charity prepares a trustee5' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial stat¢m¢nts for each financial year which give a true and fair view of the state of affairs of the charitable ¢ompany. Its incoming resources, application of r¢sourc¢s, including in¢om¢ and expenditure. for the financial year. In preparing the financial statements, the trustees are required to: Select suitable accounting policies and then 4)ply them Consistently. observe th¢ methods and prin¢ipl¢s in the Charities SORP. make judgements and estimates that are re&sonable and prud¢nL state whether applicable UK accounting stsndards hav¢ b¢¢n followed. subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going concern blS unless it is inappropriate to presume that the company will continue on that basis. The trustees are responsible for maintsining adequate accounting records that disclose wilh reasonable accuracy at any time. the financial tK)sition of the charitable cownpany and to enable them to ensure that the finan¢i&l
HIGHBURY ROUNDHOUSE ASSOCIATION LIMITED (A COMPANY LIMrrED BY CUARANTEE) REPORT OF THE TRusfEES YEAR ENDED JI MARCH 2022 statements ¢omply with the Companies A¢t 2006. They are alw reS)nSIble for safeguarding the ass¢ts of the charity and hence for tsking reasonable sieps for ihe prevention and detection of fraud and other irregularitie5. The trustees are Fesponsible for ihe maintenance and intwity of the corwrate and finan¢ial inforn)ation ineluded on the charitable Company's website. Ltgislaiion in the United Kingdom goverThng the preparation and dissemination of finatKial statements may differ from legislation in other jurisdictions. Ststetnent as to dis¢losutt of inforniation to aLtditors In so far &8 the trustees are aware: there is no relevant inforniation. being inforniation needed by ihe auditor in conne¢tion with preparing their report, of which the auditor is unaware. and the truslees have taken all steps that they ought to have taken to make ihemselves aware of any relevanl audit information and to establish th* the auditor is aware of the. infomiation. Chan e in fixed assets The movemeni in fixed assets during the year are sei out in note 9 to the financial statements. The Audiiors, Perlin Franco will be proposed for re-appointm¢nt at the forthcoming Annual (Jeneral Meeting. Approved y the Board on... Neville Cowton Chair of the Board of Trustees 12
INDEPENDENT AtJDITORS' REPORT TO THE MEMBERS OF HIGHBURY ROTJIYDHOUSE ASSOCIATION LIMfTED Opinion We have audit¢d th¢ financial statsm¢nts of Highbury Roundhouse Association Limited for the year ended 31 March 2022, which Comprise the Ststement of Financial Activities, the Balance Sheet. the Cash Flow Statement and not¢s to the financial stat¢m¢nts. in¢luding a summary of significant accounting policies. The financial reporting framework that has been applied in their prepardtion is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Prdctice). In our opinion the financial 5tatements'. give a true and fair view of the state of the charitable COTnpany's affairs as at 31 March 2022 and of its incoming resources and application of resources, including its income and ¢xp¢nditure. for the year then have been properly prepared in accordance with United Kingdom Generally Accerned Accounting Practice. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opiDion We eonducied our audit in accordan¢¢ with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our reswnsibilities under those standards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevantto our audit of the financial stat¢m¢nts in th¢ UK. including th¢ FRC'S Ethical Standard. and we hav¢ fulfilled our other ethical responsibilities in accordance with these requirements. We believe thatthe audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion Conclusions relating to going concern In auditing the financial statements. we have concluded that the trustee5' use of the going concern b&8es of accounting on the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to ev¢nts or conditions that, individually or collectively, may significant doubt on the charitable company's ability to continue as a going concern for a period of at Iwt twelv¢ months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant section5 of this repor Other information The Irustees are responsible for the other inforniation. The other inforniation comprises the inf0mtion in¢lud¢d in th¢ annual r¢poit other than th¢ financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial ststements does not cover the other infomiation and. except to the extent otherwise explicitly stated in our report. we do not express any forn] of assuranc£ conclusion thereon. In connection with our audit of the financial ststementy our reSnsibl11ty is to read the other infomJatiOFb and, in doing so, consider wheth¢r th¢ other information is materially inconsistent with the financial statements or our knowl¢dge obtained in the audit or otherwise appears to be materially mi5Stated. If we identify such material incon5iStencie5 or apparent material misstatements, we are required to deterniine whether this gives rise to a material misstatement in the financial statements th¢mselves. If. based on the work we have IOrn]ed. we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 13
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF lllGHBIJRY ROUNDHOUSE ASSOCIATION LIMITED Opiuioii OD other matters prucribed by the compani Ac12006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Report of the Trustees for the financial year for which th¢ financial statements are prepared is consistent with the financial statements. and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Matters on wbieh we 2re required to report by exeeplioll In th¢ light of the knowledge and understanding of the charitable company and its environment obtained in the cours¢ of the audit. we have not identified material misstatements in th¢ Straiegic Report or Report of the Trustees. We have nothing to report in respect of the followin8 matters wh¢re the Companie5 Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have noi IKen kept or returns adequaie for our audit have not been received from branches not visited by us- or the financial statements are not in agreement with the aUntIng records and returns" or certain disclosures of trustees, remuneration specified by law are not made. or we have not received all the information and explanations we require for our audit- or th¢ trustees were not entitled to tske advantage of the small companies exemplion from the requirement to prepare a Strategic Report or in preparing the Rert of the Trust¢¢s. Responsibilities of trustttq As explained mor¢ fvlly in the Statement of Trustees Responsibilities. the trustees (who ar¢ also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the trustees detemin¢ is n¢¢essary to enable the pParatIon of financial statements thAt are free from mat¢rial misstst¢menL whether due to frnud or error. In preparing the financial statements. the trustees are responsible for assessing the charitable companys ability to continue as a going concern. disclosin& as applicable, matters relat¢d to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operation% or have no realistic alternative but to do so. AuditorJ' responsibiliti for the audit of the financial statements Our objectives Are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or eor and are considered material if. individually 01 in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The ext¢nt to which our procedures capable of detecting irregularities, including fraud is detailed below.. We obtained an understanding of the legal and regulatory frameworks applicable to the Company and the sector in which they operdte. We determined that th¢ following laws and r¢gulations were most Signifi11. the Companie5 Act 2006 and the Charities Act 201 14
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF HIGHBURY ROUNDHOUSE ASSOCIATIOIY LIMITED We assessed the susceptibility of the Company's financial statements io material misstatement, including how fraud might occur. Audit procedures perforn)ed by us included: -identifying and assessing the desigll effectiveness of controls manag¢meDt has in place to prevent and detect fraud- -understanding how those charged wilh governance considered and addressed the potential for override of controls. challenging wumptions and judgments made by management in its significant accounting estimates- ideniifying and testing journal entries. in particular any journal entries posted witb unusual account ¢ombinaiions' and assessing the extent of compliance with the relevani laws and Tegulaiions. A further description of our responsibilities for the audit of the financial statements is lOcad on the Financial Reporting Council's website at www.frc.0rg.uklauditorsrponsib717tie$. This description fornis part of our Report of the Tndep¢ndent Audiiors. Use of our report This report is made solely to the charitsble company's members. as a body. in accordanc¢ with Chaptcr 3 of Part 16 of the Companies Act 2QM)6. Our audit work has been undertaken so thai we might state to the Lharitable company's Tnembers those matters we are reqUId to stai¢ to them in an auditors, report and for no other purpose. To the lIest extent pern)itied by law, we do not accept or assume responsibiliry to anyone other than the charitable company and the charitable company's members as a body, for our audit work. for this repor¢ or for the opinions we have fom)ed. Faustino Frdnco (Senior Statutory Auditor) Perlin Franco Chartered Accountants & Statutory Auditors Solar House 915 High Road North Finchley London N12 8QJ Date.. 15
HIGHBURY ROtJNDHOUSE ASSOCIATION LIMTTED (A COMPANY LI[r[ED BY GUARANTEE) (Registered Number: 01759460) STATEMENf OF FINANCIAL ACTIvrrtES Onclvding Income gnd Expenditu Account) YEAR ENDED 31 MARCH 2022 Unrestricted Funds 2022 Restricted Funds 2022 Total Fund5 2022 Total Fund5 2021 Notes INCOME: DonatS0rts and other voluntary income 13.865 15.(MN) 28.865 670 Income frorn charitable activitie5: Grants, contracts and donations 120.964 629,725 750,689 666,110 Other activities 1.749 1.749 27 Investrnent income 39 39 12 Total income 136.617 644.725 781,342 666,8J9 EXPENDITURE". Raising fjjnds 14.186 14,186 2.775 Charitable activities 79.385 632.033 711.418 609,384 Totsl Exp¢Dditur¢ 93,571 632,033 72S,604 612,159 NET INCOME FOR THE YEAR 12.692 55.738 54,660 RECONCILATION OF FUNDS: Total funds brought forward 137.725 2,924,046 3,061.771 3.007,111 Totsl ndS caTried forward 13 £180,771 £2,936,738 £3,117A09 £3.061.771 The siatement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 16
HIGHBURY ROUNDHOUSE ASSOCIATION LIMrrED (A COMPANY LIMITED BY GUARANTEE} (Registered Number: 01759460) BALANCE SHEET YEAR ENDED 31 MARCH 2022 2022 2021 Not¢s FIXED Assrrs Tangible assets 3268.767 3,269,754 CURRENT ASSETS Dtbtors Cash at Bank and in Hand 10 45.977 131891 86.257 130057 Total current Assets 177.868 216.314 CREDITORS- Amounts falling d¥e wlthin one year (70.369) (147,410} NET CURRENT ASSETS 107.499 68,904 Total assets les5 curreni liabilitie5 3.376,266 3,338.658 CREDITORS: Amounts f•lling dut after more thin one year 12 (258,757) (276,8871 NET A&8rrs £3.117J09 £3,061.771 REPRESENTED B Y: Re$trided fullds: 13 2.936,738 2.924.046 Unrestricted funds: Gcncral funds Designated fund5 TOTAL CHARtTY FVJYDS 13 13 180,771 118.646 19.079 £3.117ts09 £3,061,77J These financi staternents have been PTepared in a¢tordartc¢ with th¢ special provisions of Part IS of the CoTnpanies Act rtlating to small choritsble companies and constlluie ihe annual accounts required by Companie5 Act 2006 and are for ¢ir¢ulaiion to members of the wmpany. The notes at pagtt 19 to 29 form part of these financial staterner 31 Approved b theboardon.......... OCTO8.61L ...l0.IL Scott Wadlow Treasurer 17
HIGHBiSRY ROUNDHOUSE ASSOCIATION LtWTED (A COMPANY LfMfTED BY GUAIL4NfEE) (Registered Number. 01759460) STATEMENT OF CASHSLOWS YEAR ENDED 31 MARCH 2022 2022 2021 Notes CASH GENERATED FROM OPERATING ACTIVITIES 19 80.808 99,344 Investing actlVLties: Interest income 39 12 Purchase of tangible fixed assets (7.604) (11,496) (7.565) (11,484) Financing activities New loans in the y¢ar 5.000 Bridging loan repaid durbng the year (45,856) Long terni loans repaid during the year (30.553) (58.516) (71.409) (58.516) INCREASE If4 CASH AND CASH EQUIVALENTS 1034 29.344 Cash and cash equivalents at th¢ beginning of the year 130.057 100.713 CASH AND CASH EQUJVALENTS AT END OF THE YEAR £131091 £130,057 18
HIGHBURY ROUNDHOUSE ASSOCIATION LIMfrED (A COMPANY LITr[ED BY GUARANfEE) IRegistered Number: 01759460) NOTES TO THE FINANCIAL STATEMEKrs YEAR ENDED 31 MARCH 2022 AccouNfING POLICIES The principal accounting policies are summarised below. The accounting policies have b¢¢n applied conSientlY throughout the y¢ar and in the pre¢eding year. These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless Otheise stated in the relevant notes to these accounts. 1.1 B8sis of accountillg The financial statsments have been prepared Tn accordan¢¢ with A¢counting and Reporting by Charities.. Ststement of RecomTnended Practice applicable to charities preparing their accounts in accordance with the Financial Rep)rting Standard appli¢able in the UK and Republic of Ireland {FRS 102) (effective 1st January 2019) - (Charities SO11 (FRS 102)). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unles5 otherwise sthted in the relevant accounting policy notes. 1.2 Preparation of the aeeovnts om g going concern basil The organisation has a 3 year business plan and is working to complete construction of a new £3.5Million Community building. At the time of approving the accounts, the directors have a reasonable expectation thai the charity has adequate resource to continue in operation for th¢ foreseeable future. The Trnstees a ¢onfid¢nt that the charity remains & going concem for the foreseeable future. IJ Incomittg resourc Income resources are included on an accruals basis in the Statement of Financial Activities when the eriteria of entitlement. probability of receipt and measurability have been met. Income from the local &uthority and other grants. whether'capital" or'revenue" grants, is regnIsed when entitlement to the funds. any perforniance conditions attached to the grant have been met. it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance of contra¢ted service d¢liv¢ry is d¢ferred until the criteria for income rognition 8r¢ met. Donated services and fxilities Are included in the SOFA when received at the value of the gift provkded the value can be measured reliably. Goods donated for on-going use are recognised as tangible fixed assets and included in the SOFA as income from donations when receivable. Investment income 15 included in the SOFA when reetived. 19
HIGIIBURY ROUNDHOUSE ASSOCIATION LIwirrED (A Co(PANy LirED BY GUARAKfEE) (Registered Number: 01759460) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022 Incoming resources from grants. where related to performance and specific deliverv4bles, are accounted for &s the charity is entitled to considerntion by its perforniance. Th¢ valu¢ of any voluntary help received is not included in the accounts. but is described in the trustees. annual report. 1.4 Resources expeDded Expenditu is recognised on an a¢¢rual basis as a liability is in¢urroJ. Expenditure includes any V AT which is not recoverable and is reported as part of the expenditur¢ to which it relat¢s and th¢ amount of the liability can be measured with reasonable certainty: Costs of rdising fvnds comprise the costs aswciated with attracting voluntary income and the costs of fundrnising activity. 50/• of core salary costs are apportioned to fundraising. Expenditure on charitable actiVTties comprises those costs incurred by the organisation in the delivery of its Charitabl¢ activities. It includes both ¢osts that Can be allo¢ated directly to such a¢tiviti¢s and those costs of an indirect nature nece55ary to support them. Gov¢rnan¢e costs are included in eXpendIre on charitable activities and include those costs associated with meeting the constitutional and ststutory requirements of the charity and include the audit fees and costs linked io the strategic management of the charity and have ert calculated as follows.. Audit Fee tkgal Costs AGM Expenses Full Full Full Committee meetings Full Printing Postage & Stationery IO•/o Core Salaries 50/ All costs are allocated betsveen the expenditure categorie5 of the SOFA on a ba515 designed to refl¢¢t the use of the resource. Costs relating to a particular activity are allocated directly) Others may be apportioned on an appropriate basis. The allocation 15 shown in note 5. 1.3 Tangible fixed Assets and depreciation Tangible fixed Sets are stated at cort less accumulated depreciation. Where appropriate the c05t of minor additions or those costing klow £500.00 may not be Capitalid. Depreciation 15 provided at rates lCulated to write off the cost or valuation of each asseL over its expected useful life on the following basis-. Office Fquipment Furniture & Equipment New ComTnunity Building 33 113 Yo Straight line basis 25Yo reducing balance basis Leasehold building under construction 1.6 Fund ac¢ountinE Unrestricted funds are incoming resources receiv2bl¢ or generated for the objects of the charity without a specified purtrf)se and are available as generdl funds. 20
GKBifRY ROUNDHOUSE ASSOCIATION LIMtTED (A COTrtPANY LIMITED BY GUARANTEE) (Registered Number: 01759460) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022 Designated funds are unrestricted funds eam)arked by the trustees for a particular purpose. The aim and use of each designated fund is set out in the notes to the accounts. Restricted funds are to be used for a Specific PUTP05e laid down by the donor. Expenditure which meets this criterion is charged to the fund, together with a fair allocation of management and 5UPPOrt costs. The aim and use of each restricted fvnd is set out in the notes to the COUllts. 1.7 Debtors Trdde and other debtors are recognised at the settlement amount due after any trade discount offered. Pr¢paym¢nts ar¢ valu¢d at th¢ amount prepaid nei of any trad¢ dis¢ount due. 1.8 Cash at bank and in hand Cash at bank and cash in hand includes cash and short terni highly liquid deposits with a 30 day notice period or less held to m¢¢t short t¢rni cash commitm¢nts as they fall due. 1.9 Creditor5 alld provisioDS Creditors and provisions are recognised where there is a present obligation resulting from a past event that will probably $v[t in the transfer of fvnds to a third paty and ihe amount due to settle th¢ obligation can b¢ m¢asured or estimated reliably. Cr¢ditors and provistons are nomially recognised at their settlement amount after allowing for any trade discounts due. 1.10 Pensions The trustees ad that from I st July 2016 the organisation will automatically enrol staff into the People's Pcnsion scheme, which 15 funded by contributions from employees and etnployer, unless staff opt out of the 5cherne. The Scheme 15 a money purchase defined contribution scheme. 1.11 FiDan¢i#l in$trum¢nts The organisation only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subs¢qu¢ntly measured at their s¢ttl¢m¢nt value. 1.12 Employee benefits The cost of any unused holiday entitlement is reCOlSed in the period in which the employee's services are received. Annual leave not taken is not norn]ally carried forward. 21
IUGHBiJRY ROtINDHOUSE ASSOCJATION LITED (A COMPANY LIMITED BY GUARANTEE) (Registered Number: 01759460) NOTES TO THE FINANCIAL STATEMENrs YEAR ENDED 31 MARCH 2022 DONATIONS OThER VOLUNTARY INCOME 2022 Total 2021 Total Unrestricted Restrieted Fundraising income Various donations io.{M)o 15,0 25,000 3.865 3.865 670 £13065 £15,000 £28.865 £670 INCOME FROM CHARITABLE ACTIVITIES 2022 Totsl 2021 Tot81 lJThrestricted Restricted London Borough of lslington- contracts Power to Change Greater tDndon Authority Furlough Scheme Fees & charges L£ttings fijrthering charitable objective5 45,OLM) 250.801 295.801 327,864 46,144 46.144 35,698 29,060 29,060 46,492 20.961 32,870 176.768 76,397 69 313,110 313,110 17,911 17.911 Various gran 15,793 15.793 2.822 £120964 £629.725 £750,689 £666,110 OTHER ACTivrrtES 2022 Total 2021 Total Unres¢ricled Restricted Parking fees Sundry income 1.700 49 1.700 27 49 £1,749 £1.749 £27 22
HIGHBURY ROUNDHOUSE ASSOCIATION LIMITED (A COMPANY LIMrrED BY GUARANfEE) (Registered Numbtr. 01759460) NOTES TO THE FllYANCIAL STATEMENTS YEAR EIYDED 31 MARCH 2022 NET tNCOME FOR THE YEAR 2022 21121 StAted after charging: Depreciation Atsditors ttmunerotion (external scrutiny) £8,591 £7,221 £6.540 £7,020 STAFF COSTS 2022 2021 StatT costs were as follows: Salaries and wages Social securiry costs Pension costs 481,976 454.450 31,611 26.126 £525009 £492J62 No employee received emoluments of more than £60.0 in th¢ y¢ar (2021: NIL) The key managemeni personnel comprise th¢ truste4 th¢ Chief Exul1¥¢, Head of Servic¢4 Extended Schools Services Coordinator and six service mana8ers. The totsl employee ernoluments of the key management personn¢l were £225,818. (2021.. £230,614). The Senior managemeni team. perfomi a role in the direci operational aciivities of the charity. 2022 Number 2021 Number The average rnonthly beadcount of employe¢s dwring ¢he year was: Charitsble activities 24 32 Maintenance and sUPrt Management and adrnithistration 31 41 Restricted siaff cosrs are md from funds specifKa]ly provided for that purrA)S¢. RE1UNERATIoN OF TRUSTEES & RELATED PARTY TRANSACTIONS No remunerniion was paid to Trustees or did they receive any other benefits from on ¢mploym¢nt with another charity during the year, nor was ther¢ any ¢xpens¢s reimEISed to trustees (2021.. NILI. One of the trustees is a director of Cl&ss base, which delivers fitn¢55 cIL$5¢5 kn partnership with th¢ ¢harity. No f¢es were paid to the trustee or Class blse in connection with this partnership. No other trustee or other pers5 related to th¢ charity had any petsonal inierest in any contract or transaction entered into during ihe year {2021.. NIL). The organisation has an inierest frtt bridging loan of £32.084 (2021: £77,940) which is outstsnding ai the balance sh¢¢t date. 24
HtGHBURY ROUNDHOUSE ASSOCIATION LtMtfED (A COMPANY LIMITED BY GUARANTEE) (Regiskred Number: 01759460) NOTES TO THE FDYANCIAL ATEmENTs YEAR ENDED 31 MARCH 2022 TANGIBLE FIXED AETs 0)ce Equipment Furniture & Fittings i*asehokl Buildings Total 2022 Cost: As at 1° April 2021 Additions 86262 62J08 3252.751 3.401,321 7,604 7.604 Disp05als As * 31. March 2022 £35.192 £62.308 £3.260.355 £3.357,855 Aceurnulated d¢pr¢cialion: Asat l°Apri12021 Charge for the year Disposals A5 a¢ 31° March 2022 76.892 54.675 131,567 8,591 6.683 1.908 £32,505 £56.583 £89,088 Net book value: As ai 31" March 2022 £2,687 £5.725 £3,260.355 £3.268,767 Asat31"March2021 £9.370 £7.633 £3.252.7SI £3,269.754 The above fixed asseis are all used io further the company's charithbk objeciives. The new Community buildin8 15 classified under lehOld buildings a5 15 ¢urr¢ntty in th¢ fin41 stsg¢s of ¢ornpl¢tion. 10. DEBTORS 2022 2021 Trade debtors- coniract income receivables 5,148 433 Sundry debtors and prepayments Accrued income 318 3.431 £45977 £86,257 A¢¢rued in¢ome of £40.5111 (2021.. £82.393) is du¢ from the London Mwathon ¢harity £33,750 and £6,761 from lslingion Council. £33,750 of a¢crued ineorne is recoverable in more than a year. 25
HtGHBURY ROUNDHOUSE ASSOCIATION LIrTED (A COMPANY LIMITED BY GUARANTEE) (Regiskred Number. 01759460) .NOTES TO THE FllYANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022 11. .CREDrroRS: Amounts falling due within one year 2022 2021 Sundry ¢redilor5 and ¥cnwls Bridging finance Taxation and social security Pension costs 10.083 32.084 33.358 77.940 8,835 6.701 2,126 41. 1.743 Deferred income 17 £70J69 £147,410 12. CREDITORS: Amounts falling due xfttr more tha* othe year 2022 2021 Bank 108ns 137,945 145.775 Oth¢r loans 120812 £258.75? £276087 Of which: Amounts falling du¢ in more thart five years. interest £105J88 £131,666 The bank loans are secured by way of fixed aThl floaiing charge on the leasehold property. 71 Ronald5 Road NS IXB and the other assets ofthe charity. 26
IUGHBURY ROIJNDHOUSE ASSOCIATION LtMITED {A COMPANY L'IMITED BY GUARANTEE) Oiegistered Number: 01759460) NOTES TO THE FINANCIAL STATEMENrs YEAR ENDED 31 MARCH 2022 13. CHARITY FUNDS Start of yer 2021 Ineome Expenses 2022 Trnsfers End of year 2022 2022 2022 Restricted funds: Pensioners project Youth project Childmindets project Play s¢h¢m¢5 Out of s¢hool services 918 88,571 (122.321) (45,670) {12,676) (112.616) {338.750) 33.752 (19,1) ,559 (10,998) (4.413> 920 2.666 64.239 1.335 1,496 5,393 15.Y27 10.117 129.495 337.303 496 11,274 10,067 2.880.737 29,629 80 Leasehold building Minibus fund 2.865,737 29,629 2280 15.(K(I Pensioners forum Total restrieted funds £2.924,046 £644,725 {£632,033) £2,936,738 Unrestri¢led fUd$. General funds 118.646 136.617 (93.571) 19.079 180,771 DlEDted funds: R¢dundancy fund Bay H¢)dgson fvnd Project Development 8.0(10 10,6(X) (8,000) (10,600} (479) 479 Totsl Unrestri¢ted 137,725 13&617 {93.571) 180,771 Total funds £3.061,771 £781J42 (£725.604) £3,11709 During ihe year ihe designa*d fvnd5 where closed and the balances were transferred to the general fvnd. This transf¢r did not have 8ny impa¢1 on the overall lev¢l of unrestricted fvnds. Th¢ transfers between funds were made to meet the additkonal support costs, as project staff and r¢source5 w¢re shared during th¢ COVID crisis. The ¢o$ts ar¢ bwd on 5tsff numb¢r5 and usage. 27
HIGHBURY ROtiNDHOUSE ASSOCIATION LIKtTED (A COlPANy LIMITED BY GUARANTEE) (Registered Number: 01759460) NOTES TO THE FINANCIAL STATEMEKrs YEAR ENDED 31 MARCH 2022 14. ANALYSIS OF NET ASSETS BY FUND Re5trieted Funds Unrestrieted Funds Total 2022 Tangible fixed assets Debtors 3260.355 8.412 3.268,767 40.511 (100,000) (5.371) 5.466 45.977 Cash * bank and in h8nd 231,891 (64,998) 131.891 Creditors- due within one year Creditors- due after more than one year Net A$*ts {70,369) 258 757 £2.936.738 £180,771 £3,117,509 15. CAPAL COMMITMENT The organisathon currently h&% capital commitments of £136.454 10 complete the fmal phase of the new building. No provision been made in these accounts. li is aniicipated that this will be paid in September 2022 and will be paid from fijrther funds secured by the organisation. incIling a further loan of £1,000 from CAF Bank. 16. TAXATION The charity is exempi from tax on in¢ome ond g4ins falling within tIon 50.5 of the Taxes Aci 1988 or s256 of the Taxation of Chargeable Gains A¢t 1992 10 the exteni these are applied io its charitable objects. No tax ¢har8¢5 have arisen in ihe Charity. 17. GOVERNME GRANTS Incom¢ from governmeni grants comprises perforniance relatrd grants made by rhe local authority and HMRC furlough scheme io fund the work of the organisalion is provided in note 3 of the fmancial 5thtements. 18. DEFERRED INCOME Deferred hnwrne (ornprises grants receiycd in the current financial year bui relating to the" perfomiance of activities in the following year. no grants were rele&8ed in 2021. 2022 2021 Balance ai the swr of the year Amount released to income earned from charitsble a1¥1¢1¢5 27,688 (27,688) Amounts deferr¢d to the following year B8lance as at the end ol th¢ y¢ar £17341 £27,668 Details of the defetTeO income ar¢ shown in note I l. of the ffftancial ststements. 28
HtGHBURY ROUNI)HOUSE ASSOCIATION LIMITED (A COMPANY LI[TED BY GUARANTEE) (Registered Number: 01759460) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022 19. RECONCILIATION OF IYET INCOME TO CASH GENERATED FROM OPERATING ACTIVITIKS 2022 2021 Net income for the year Depreciation charge Inieresi paid Interesi r¢t¢iv¢d 55.737 54.660 8.591 7.221 7.424 5,214 (39) 40280 (12) D¢¢r¢w in debtors 13.329 Decrea5¢ 1 {InCre) in creditors Cash g¢ner4ted frotn operating activities £80.808 £99W4 20. LEASE COMMITMENTS On the 25ih April 2017. the organisation signed a 99-year Ie on= 71 Ronald's Road, London N5 IXB. The Big Lottery Fund and CAF Bank have a legal charge on the leasehold building_ The lease has OUnd rent of £500.00 payable armually which will become payabl¢ once the Trew building is complete. 21. STATUTORY INFORMATION Highbury Roundhouse Association Limited is a company limited by guarJni¢e. regIsred in England and Wales, regisiraiion number 1759460. The registered otrice is: 71 Rotwlds Rod London. N5 IXB The presentation currency of the financial ststem¢nts is the Pound Sterling (£) and the level of rounding is the nearest {£). 22. POST BALANCE SHEET EVENTS Ai ihe time of signing the acwunL% th¢ trust¢es ar¢ aware of the potenlial economic and social impact.of the coronavirns ouibreak in the UK and around the world. The charity will ¢ontinue to mitigate the risk5 by following the Govemmeni's guidelines. adapiing and developing its own flnaneial ond operational strategy. Although COVID - 19 is menikoned in the knjsiees. report, it h&8 no material financial impact on ihe charity due to the 5UPPOrt of151ingion Council and the Government. As we conclude the report for the year ended 31 March 2022. another financial crisis is about io hit the Nation. the cost-of-living Crisis. The organi5alion is aware of a number of cost pressuTes and challenges facing the sector. Like other Charities of similar size and capacity, the organisation h&5 pr¢par¢d a d¢tail¢d budgeL which has anticipated some significant increases in costs. The trusiees are confident that the organisation, with the aid of the new community building, will be able to meet the challeng¢s and s¢rv¢ the ¢ommunity for many yeaTS to Come. In this regard the organisaiion, h&% woduced a balanced budget for 2022r2023. Th¢ budget will be monitored regularly during the year. 29