HIGHBURY ROUNDHOUSE ASSOCIATION LIMITED (A company limited by guarantee) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charity Number: 288370 Cornpany Number: 1759460 'ADH8QIIF* 0411212024 COMPANIES HOUSE A28 235 HIGHBURY ROTJNDHOUSE ASSOCIATION LIMITED (A COMPANY LI￿[TED BY GUARANTEE) INDEX TO FINANCIAL STATEMENTS ytl AR EIYDED 31 MARCH 2024 Contents Page Report of the Triistees 1-14 Independent Auditors, Report 15-17 Statement of Financial Activities 18 B8lanee Sheet 19 Statement of Cash Flows 20 Notes to the Financial Statements HIGHBURY RoufqDHOUSE ASSOCIATION LLMITID (A COMPANY LIMITED BY GUARAIYTEE) REPORT OF THE¢ TRUSTEI Ei S AR ENDED 31 MARCH 2024 The trustees air pleased to pi'esent their annual dii¢¢toi's' i'eport togethei- with the financial statemenls of tl)e chai'ity, which are also prepared to m¢¢t the requii¢ments foj. a diI'ectors' report aiid accounts foi. Companies Act puiposes. The financial statements Comply with the Chai'ities Act 2011, the Coinpanies A¢t 2006, the Memorandum and Aiticles of Association and Accounting and Repoiting by Charities., Statement of Recommeiided Pi7ctice applicable to chai'ities prepai'ing tlieii. accounts in accordance with the Financial Reporting Standai'd applicable in the UK and Republic of Iitland (Charities SORP (FRS 102)), (effective 1st Januaiy 2019, second edition- Octobei- 2019). BJECTIVE AND AcTIVIT￿s The Higlibuiy Roundhouse (the Charity) offers educational and recreational facilities for people of all ages and ethnic backgrounds who live oi. work in Highbury and the surrounding areas. The Chai'ity provldes a home for various ¢ommunity groups and oi'ganises social and recreational events throughout the year. It selves a bi'oad cross-section of the community, with a particular focus on single-parent families, the elderly. people with disabilities, and young people. The Charity aims to ciEate a safe and welcoming environment that encourages individiials. especlally those fi'om disadvantaged and disaffected communities, to engage in activities that enhance their self-esteem and promote participation in community activities and events. With expeittise in working with children and young people. the Charity fociises on delivering ediicational and recreational activities that make a meaningful difference in theii. lives. We achieve our aims by providing pensionei's, clubs for older people. activities for under-five's, extended school services, after school clubs and support various userlself-help groups. Oui. aims fully reflect the pui'pose that the oi'ganisation was set up to further and have regard to the Charity Commission's guidance on public benefit. The organisation As grateful for the efforts of volunteers who WO￿ on aveitge twenty-five houiE per week. for fifty weeks, in diffei'ent areas of our work. It is estimated that over 1,250 voliinteei. hours were provided during the year. If this is conservativ¢ly valued at £1 5.49 an hour the volunteer efforts amount to £19.363. Theie has been no change in the policies adopted to achieve our charitable objectives. STRATEGIC REPORT The followiiig statements foi'm part of the company's strategic report Achievein¢nts and performance Financial review Plans fol. future period5 Throughoiit the year, the Trustees developed a comprehensive three-year Business Plan. This new Plan is designed to guide the organisation in plannlng, directing, delivering, and rnonitoi'ing its work and iinpact. The Plaii has been .foi'inally approved and will be iinplemented for tlie 202412025 yeai.. It aims to ensiire the organisation Can effectively achieve its six main goals. which are: GOAL I: Provide best-in-class facilities foi. hosting educational and recJEational activities and services GOAL 2: Grow awareness of, and increase footfall to, the Charity's facilities so the maximiim number of local IEsidents can benefit from the 5eivices GOAL 3: improve life chances and well-being of childi'en aiid young people in Islington GOAL 4: Reduce isolation and impi'ove well-being of ovei. 55's in Islington HIGHBURY ROUNDHOUSII ASSOCIATION LItfflTED (A COlktPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTfi ES YEAR EIYDED 31 MARCH 2024 GOAL S: Impi'ove access to opportunities, services, training and jobs for iesidents GOAL 6: Promote sustainability practices in Islington Tlie organisation has also implemented a new infoi'ination and monitoring software, to help us track oul. impact. We will monitor our pi'ogi'ess against the BLisiness Plan and i¢poJt our findings in the Tru5tees' Repoit foi. 2025. ACHtEVEMENTS AND PERFORMANCE li Dui'ing the year we used four different buildings to ac¢ommodate our groiips and deliver our work. Since die 25111 Februaiy 2023, we have been delivering services from our new biiilding, that foj. several y¢ars was undei. construction. This marks the first full year ot delivei'ing services from our new building. While we have ti'ansitioned to the new building. we continue to use other buildings. We will provide mol'e details about the seivices deliveied below. During the year we also implemented the following.. Revised our budget during the yeai. and monitoi'ed income and expenditure. Completed the stagging on the new building. Increased the services delivered from our new building. Reviewed ouj. Risk Management policy. Ensured that our staff continued to receive I'egular training. Staff continiie to woi'k fi'om home wheir possible. We assisted staff with the increase in the cost of living. Monitojed our performanc¢ against KPI'S. Increased oui. marketing and the use of multi-media tools. We kept all oui. fees and charges to the minimum. Review our booking system. Continiied the review of oui. Business Plan. Continiie to Ita¢h out and work with new partnei's, we intend to continue this work into 2025. Considei. ways we con make the fi'ont of the site and enti'ance moir welcoming. Able to relocate our youth club, back to Ronalds Road We will provide further infoiThation on services we have delivered from different locations. ommuni This is the first fvll year of delivering services in oui. new building. This 5ignifi¢ant milestone was achieved thanks to the dedication and suppoit of many individuals, incliiding our trustees, local community members and funders. We are actively promoting this new commuiiity i'esource, led by oui. Business Development Managei. and suppoited by our administrative team. Our wotidei'ful opening event, held on 25111 Februai'y 2023, set the stage for the range of sei'vices we have been delivei'ing to the commiinity. We encoui'age eveiyone to visit the new biiilding, take pait in the various activities and shal'e tlie expeTien¢e with fi'i¢nds. Looking Ahead to the Following Year l. Expanding Seivices: Wc plan to introduce new progi'ams and services to meet the evolving needs of our community. This includes workshops, support giDups, and I'eci'e8tional activities. 2. Community Eingagement: We aim to inci'ease community involvement through volunteer oppoitunities, partnerships with local oi'ganisations. and commuiiity events. 3. Sustainability Initiatives: We will focus on making oui. opeiytions more su5taTnable, including implementing green practices in our new building and pi'omoting cnvii-onmental awai'eness. HIGHBURY ROUNDHOUSE ASSOCIATION LIMITED (A coiktPANY LITrllTED BY GUARANTEE) REI PORT OF THE TRUSTEES YEt AR EI NDED 31 MARCH 2024 4, fieedback and Improvement.. We will actively seek feedback from oui. service usei's to continuously iinprove our offei'ings and ensui'e we are meeting their needs effectively. 5. Celebrating Milestoiies; We will celebrate key milestones and achievements throughout the year, highlighting Ihe impact of oui. work and the contributions of our supporters. 6. Fundraising and Support,. W¢ will continue our fundraising efforts to support oui. pt'ogi'ams and seivices, ensuring we can maintain and expand oui. impa¢t. We look forward to another yeai. of growth, community engagemenL and positlve impact. Thank you for your continued support and involvement. w and to whom outr activitie5 ublic efit and im a¢ Our core activities continue to focus on suppoiting children, young people, older adults. and families. We are committed to encoui'aging membeis of BAME (Black, Asian, and Minority Ethnic) communities to access our services, ensuring inclusivity and accessibility for all, Key Activities: l. Children and Young People: We off¢r a range of programs designed to support the development and well-being of children and young people. These include educational workshops. r¢ci'e8tional activities, and mentoring progi'ams aimed at f05t¢i-ing personal growth and resilience, 2. Older Adults: Our services for oldej. adults include social clubs, health and wellness progi'ams. and support gi'oups. These initiatives aim to J'educe isolation. promote active living, and pi'ovide a supportive community foi. older individu81s. 3. Families.. We provide compi'ehensive support for families t￿,oUgh pai'enting woi'lcshops. family counselling, and community events. Our goal is to strengthen family bonds and provide resources that help families thrive, Commitment to Inclusivlty: We actively encoiirage membei's of BAME communities to engage with our services. Our efforts include., Outreach Pi"ogi'Ams: We conduct tai'geted outi'each to BAME communities to raise awai'eness about our services and ensure they feel welcomed and supported. LAnguage Support: We offer translation and interpretation services to ensui'e language is not a bai'rier to accessing our programs. Feedback Mechanisms: We have established cliannels foi. receiving feedback fi'om Community memb¢rs to continuously impi'ov¢ our services and addi'es5 any specific need5 or concerns. Accessibility for All: We strive to make our seiyices accessible to eveiyone by: Physical Accessibility: Ensui'ing oui. facilities al'e accessible to individuals with dlsabilities, including ramps. elevator. and accessible restrooms. Flexible Seheduling: Offei'ing programs at vai'ious times to accommodate different schedules and Commitments. Flnaneial Assistance.. Pi'oviding financial support or sliding scale fees for those who inay need assistance to participate in our progjams. We i'emain dedicated to fostei'ing an Anclusive and sUPPOrtiv¢ envii'onnient wheir eveiyone feels valued and empowered to p￿tICipate. Seiwices to older eo We continu¢ to manage the Sotlieby Mews Day Centre on behalf of Islington Council. The centre provides meals and activities to older people at subsidised rates. The pi'oject also provides a range of activities and trips throughout the yeai. to membei's. The membeiE enjoyed a variety of activities from: Active Memory Group, Arts & Ci'afts, Equipped for Life (with Gee), Boai'd games, Bingo, the Sotheby Singei's were very active. Film Club HIGHBURY ROUNDHOUSE ASSOCIATION LThirrEI D (A COMPANY LIMITED BY GUARAIYTEE) Rfi PORT OF THC TRUSTEES YEAR ENDED 31 IVIARCH 2024 and Men's Keep Fit (with Martin). The activities wei'e well attended and enjoyed by all. The group enjoyed a wonderful Jubilee paity and trips away fi'om the Centre to places like, Southend a favourite of the members - mainly foi. the fish & chips. Then we had an amazing Chi'istmas paity. Some of the activities weit fl-ee, others IEquired a small fee. We have over 150 regular users and pi'epai'ed just under 2,500 meals during the year. The plan for the members in i'egai'ds oui. new building, is to use botli buildings foi. as long as we can. to deliver sei'vi¢es for the membei's. We have staited a keep-fit class two days a week in the new building and have offered lunclies, although take up foi. the keep-fit is veiy good. the lunches at present alp not popular. The oi'ganisation is happy to continLie delivering services from Sotheby Mews, for As long, as we al'e able. However, in March the Council opened discussions to move the service to Ronalds Road. If the service is required to move from its current location, we will do what we Can to 2e¢ommodate oiir iisers, in the new building. The move will offer oppojtunities for some intergenerational activittes for all ages. -five's Ser ic We have two proj¢cts that aim to delivei. services to undei'.fives; our Childmindei's, pi'oject and Stay and Play gi'oup. The aim of the pi'ojects is to provide infoi'mation on how childminders and othei. pra¢titionei's can meet the J'equii-em¢nts of the Early Year's Foundation Stage. We create a stimulating and playful envii'onment both indoors and outdoors, whei'e children feel safe and secure. to tiy out ideas, solve problems, and take i'isks and develop interest in the woi'ld around them. For this to woi'k effectively. l) Staff will first observe how the child is settling into the group. 2) Getting feedbaclc fi'om the parei)tslcarers, and monitoring their progi'ess. 3) Identify positive impact or iEflect on what needs to change. for childi'en to have opportunities to lead their way and follow their intei'ests. We help children become school readiness by communicating and sharing infomiation with their parentlcarers by providing challenges and meaningful learning opportunities foi. each child, whilst giving them confidence in becoming a leainer. Thi'ough communication & discussioii with the parentlcaiEr aiid staff observations, we discovei. what the chjld is i'eady to leai'n and move towai'ds that goal. As a regult of this we put together hallenging activlties in which the Child can hold meaningful connections. The project delivered a number of group aclivities during the yeai., with plenty of singing, storytelling and ciirle time. We always aim to celebrate cultural events with a group activity. We also encoui'aged pai'ents to enrol on free fii'st aid coui'ses, oi'ganised by Islington Early Years and PiDvide the childmlndei's with a calendai. of training ¢ouIBes and othei. job opportunities. Attendance to tlie gi'oup increased during the year: we woi'ked with over 200 families, with 20-30 fainilies attending each day. The new building has meant that we can woi'k with mol'e families. as the gioup also uses the main hall. Most of the children were between the age of1-2 yeaiE with 64 belonging to this ￿0up. We now use a social impact softwai'e called Upshot to collect data on the gJoup, which Ilows us to accurately collate data on the children and families using the service. The gi'oup is led by our Undei'.five's Services Manager who plays a key role in 5UPPOlting the childmindei's and the families, The Early year's team have also been supporti118 pai'ents in the ESOL (English for Speakei's of Other Languages) classes. Out of School Services Highbuiy Roundhouse manages a numbei. of after school and eni'ichm¢nt clubs aoiDss the borough foi. schools. The clubs ar¢ subsldised by grants fj'oin Islington Council. The byants pi'ovided by the Council eiisui'e tliat th¢ service is affordable foi" parents and offer up to two free place5 for vulnerable families. We also. offer concessions to families on low incomes. We cuiyently work in partnership with three Schools across the Borough. On average a total of over 300 children access our seivices on a nightly basis. We also, delivered eni'ichment classes during the year. The classes can be: Ballet Classes, Art Club, Science Club. Cheerleading, Di'ama, Fencing, Taekwojido and Langiiages. These HIGIIBURY ROUNDHOUSE ASSOCIATION LIMITED (A COMPANY LITrifTED BY GUARATrITEE) REPORT OF THEI TRUSTEES YEAR ENDED 31 MARCH 2024 Clubs are veiy well attended and enjoyed by the yoiiiig peopl¢, with over 400 childi'en attending. Staff development and training of our extended-schools team, Continued thiDughout tlie yeai.. We pi'ovided plays¢hemes from two locations during the year. with more than 600 children accessing the sei'vice ovej. the holidays. We were able to access Council fundlng to provide concessions foi. famili￿, we also have a sibling rate, which is important when registering more thali one child. The childiEn aiE able to enjoy many outdoor and indooi. sports, sucli as: football gaines, bike-i-lding, badminton, archei'y and cii'cus skills. This yeat. we delivej'ed ti'ips to Arsenal Stadium. compliments of Samir Singh - (￿￿enal Community Development Officer. who as a youngster attended Highbury Roundhouse youth club), a visit to the Little Angel Theati'e. a guided tour of Freightlinei's Farm, and other visits to, Bowling. Highgate Woods, Cinema trips, Wobui'n Safari Park and Chessington World of AdventUiE. The childi'en had an amazing time, and we are pleased with the outcome. We also, delivered a HAF project over the summei. months (Holiday Activities & Food), in paitnership with Islington Council. The project tai-gets families on low income, who are unable to access out of school activities, due to their limited disposable incomes. The sei-vice is free for those families, which includes the attendance fee. lunch and all the trips, The project ensui'es that no young pei-son is left with nothing to do ovei. the summer and also iEceives a healthy and nuti'itious meal. All meals were prepared fresh from our community kitchen in the new building. This was the first time we did this and it was a great succ¢ss. We were allocated 30 places at each of our Centres. demand was high and we exceeded oui, allocation of 30, on most days. We a150 found that parents of SEND (Special Education Ne¢ds & Disability), EHC (Educational Health Cal'e) oi. CP'S (Child Pi'otection) plans, benefited fi'om the progi'amme. We look forwai'd to working with the fainilies in 202412025. Youth Clu We reached out to ovei. 90 young people dui'iiig the year, the transfei. of the seivi¢e to our new building has gone veiy well. We have delivered outreach siipport sessions on doorsteps to the rnoie vulnel'able members of our Community and engag¢d targ¢ted youth agencies to help siipport young people through issues such as isolation and bereavement. Pi'ogi'amme of activities We have developed a weekly pi'ogiamme. that is co-designed alongside young people and made up of a range of 'magnet' activities that tliey have told us they would like to see taking place at the Youth Club. Activities that are ath'active, engaging and encourage them and their friends to attend, these include VR Gaming. table tennis, arts and crafts, cooking. debate clubs. games, tournaments, and quizzes. Alongside this the team also provide a range of mol'e structui'ed pei'sonal and social development opportunities aimed at addressing specific nceds raised by the membei's themselves or identified by the youth woi-k team, these include. safety awareness, Irlationships, mental health, and wellbeing and employability. Below is a taste of some of the activities oui. Inembe13 have paiticipated in. Team building and communl¢ation games A key part of the youtli woi'k p1￿ceSS is siipporting young people to develop a range of essential life skills that will assist them in their daily live5, such as pi'oblem-solving, critical thinking, and teamwoi'k, To this end> youth woi'lcei's often offer variety of games. puzzles, and quizzes on offer dui'ing sessions that help get the young people's synapses and enhance their latei-al and creative thinking capabillties. Issue based workshops In response to ongoing discussions and requests from members, attending both our open access and SIS (She is Suppoited) gil'ls gi'oup, foi. advice and guidance ai'ound a wide numbel. of subjects, like i'elationships. intei'net safety, employability opportunities, m¢ntal health and wellbeing. We have both developed in-house sessions and partnei'ed wlth a range of specialist oiganisations, such as BROOK, LEAP and Univei3Aty College London, to pi'ovide sessions to oui. Inembeis exploi'ing these issues. The sessions wei'e well attended, and participants engaged.0p¢nLy4Y.ith.facil,itato￿=aboll￿th&1SSUcS:a￿d.ConCerI]sAbe¥.IIadjYI].enjl4aM,e t￿the sub. cLma ei. b_eAn HIGHBURY ROUIYDHOUSE ASSOCIATION LIMITED (A COMPANY LllkttTED BY GUARANTEE) REPORT OF THE TRUSTEES YEI AR ENDED 31 MARCH 2024 discussed. The young people fed back, that due to the sessions, they felt bett¢r equipped to make better Pdnd more inforined decisions in their lives. In addition. to the sessions provided to oui. members. organisations such as BROOK, have also piDvided training to our staff and the wider SIS consojtia. In Februaiy staff completed Sexual Health in the Community training. designed to empowei. non-healthcare professionals with the confidence to initiate sensitive. inclusive and factual convei'sations about sexual health, and to signpost and sllPPOIt young people to access local sexual health sèrvices. Youth Voice In response to Islington Council's request to seek the views of young people about the DFE'S transgender guidance draft foi. schools around social transitioning, the staff ran an activity to exploi'e the membei's, viev on the key disciission points within the guidance, including wl)¢ther teachers should be compelled to use pi'onouns othei, than 'He' and 'She' and if a child's pai'ents sliould automatically be informed if a child wishes lo social transition at school. Although the issue of transgender rights has received a lot of publi¢ and media attention i'ecently, with discussions around it often being divislve and negative, the teain were hugely impt'essed and proud of the mature, thoughtful and I'espectfijl way that the young people engaged with the activity. The young people's responses wei'e collated and sent to the eoun¢il officer leading on the consiiltation and have now been included as part of Islington Council's response to the DFE. Psyehotherapy The 'She Is Supported, Project offers a fl'ee and confidential tlieyapy sei'vice to girls aged 10-24 attending one of these Islington youth hubs,, Mary's Youth Club, Prospex, Highbury Roundhouse. We offer 12-16 sessions of l.. I therapy at HRH with a qualified Young People's Psychotherapist from the Brandon Centre. These sessions take place evely Tuesday and Wednesday in the afternoon. Yoiing people are suppoited in therapy who may face some pi'oblems and difficulties, such as depi'ession, feeling loiiely oj. isolated, ¢atiiig problems. I'elatioi)sliips. violence, oi. biillying. Trips And Off-site Activities Ti'ips are always a big hit with oui. members, and as a rewai'd for the efforts tliat Inany have made, attending boi'ough-wide youth consultations and active citizenship evei)ts, we asked whei'e they would like to go. This yeai. they opted fot. some fti'm favourites, like Bowling, Pizza. and Thot'pe Park. Summeiversity As pai't of the youth team's Summei. Holiday planning, we managed to secure funding to provide some ex¢iting new projects. These in¢lude: Gi'Affiti Groove: Ci'efitive Sti'eet Art Program for 13-19yr3. This piogi8mine encoui'ages young people to unleash their inner artist and dive into the vibiant world of street ait, whel'e spray cans becoine theii. bl'ushes aiid walls transform into canvases. YP'S will learn new techniques. and make theii" mark in this dynamic. hands-on creative joui'ney. Stitcb & Switch - Teen Fashionistas Upcycliiig Coursc for 13-19yrs. YP'S will take part in a sei'ies of workshops to reC￿ate and iipcy¢l¢ their old clotlies, giving their old outfits a new lease of life. They will also l¢ai'n about the latcst ts'eiids foi. a fraction of the pi'ice of buying items n¢w. Skills leai'ned will include: > Using patterns to cut out and ci'eate an item of clothing > Needlework > Using a sewing machine HIGHBtIRY ROUNDHOUSfi ASSOCIATION LIMITED (A COMPANY LIlkllTED BY GUARANTEI E) REPORT OF THE TRUSTEI ES YCI AR EI NDEI D 31 IWICH 2024 > Hemming > Tailoring clothe5 to the corlect sizes > Adding einbellishinent to garnient The Summerversity courses. alongside our open acce5S youth club progi'amme, were a big hit with ovei. 30 young people, attending sessions daily. Referrals Now that the open access and gil'ls, work sessions have become more established. alongside self-i'efeii'als to the sessions, the team are also startlng to see ref¢ri'als coming in from Islington's wider seivices, including Schools, refugee and Asylum teams and Eai'ly Help, which is really pleasing. Future Plans As part of ongoing efforts to establish good links with the local catchment schools we will be attending Highbuiy Fields Girls, School to suppoit them with their PsF￿ (Peisonal. Social, Health and Economi¢) education and Enrichmentcurriculum. This activity will allow us to achieve ourconts'a¢tual obligations forthe SIS programme, while providing an excellent vehicle for pi-omoting the targeted and open access s¢ssions at HRH, thus helping to incl'ease our membership. In response to requests from young people to provide more $poits-based activities we are currently in the pj'ocess of reci'uiting a sports worker who will be responsible for developing our spoits and wider health and well-being offei. aci'oss the youth sessions. One of the many ways that we woi'k with local people is to assist usei's to provide a range of sej'vices and activities that are of interest to local people. This can be dance projects, karate, pilates and special interest groups. The organisation hires out its facilities, at reduced rates to assist groups. We often use core income streams and fundi'alsing to subsidise these gi'oups. we.are always looking for ways to increase oui, user gi'oups and happy to explore new ideas and projects tliat will benefit local people, FINANCIAL REVtEW The yeai. ended 31 Mai'ch 2024 was a successful one, mai'king the fii8t full financlal year of delivei'ing sej'vices from oui. new building. This section of the repoit focuses on financial matters and the organisation's financial perfoi'mance. In summary, the oi'ganisation managed to produce and maintain a balanced budget while achieving some growth. The financial performance for the year i-esulted in a surplus of £36,816 (2023: £33,871). This Consisted of a surplus on unrestricted funds of £56,308 (2023: £35,030) and a deficit on restricted ￿ndS of £(19,492) (2023.. £(1,159). Princi al Fundin Sources and Income Generation The oi'ganisation's income foi. th¢ year inci'eased to £1,035,141 (2023: £888.071). Inoome from fees & chai'ges in¢iEased to £A59,311 (2023,. £449,501), Iiicome from lettings increased to £136,838 (2023.. £32,891). The income i5 expected to continu¢ to gl'ow as we work with more paitners in our new community biiilding. Tlie organisation i'eceived £365,708 (2023: £31 J,030) from Islington Council to deliver pi'oj¢¢ts under Se￿A¢e Level Agreements. Income from resti'icted funds decreased slightly to £765,148 (2023: £771,155), while expenditiire increased to £784,640 (2023: £772,314). This resulted in a net outflow in iEstricted funds foi. the year of £(19,492) (2023.. £(1,159). The main reasons for the change in restricted fiinds are the increase in sei'vice costs, depreciation charged on the new building and the numbei. of projects delivei'ed. Details of the movement in rests'icted funds can be found in Note 13 of the financial statenients. There was an incitase in intei'est received to £654 (2023: £48 HIGHBURY ROUNDHOUSE ASSOCIATION LIMITED (A COMPANY LIMLTED BY GUARAIYTEE) REPORT OF THE TRUSTEI ES YEAR ENDED 31 MARCH 2024 The organisation has completed a budget for 202412025, which indicates a balanced budget for the yeai.. Investment Polic The organisatioii continues to be prudent in the way it manages its funds and all casli is held in, on-demand deposit accounts. Fundraisin The trustees have reviewed the fvndraising ai'rangements and the revised budget foi. 202412025 and considel'ed the return on fundi'aising costs. Fundi'aising Costs foi, the year under A'eview was £19.414 (2023., £17,948). The increase in fiindi'aising costs was due to the fundi'aising for the final stage of the new building. The inci'ease dui'ing the year has been consideiEd against the oi'ganisation's fundraising plan and is consideied to be appropriate. The organisation Continues with its policy of ath'acting funds from different soui'ces. The organisation's revised budget for 202412025 has indi¢at¢d that additional funds will be requiitd to sustain sevei'al.projects and meet the JEpayments of the social investment loaiis. The trust¢es have considei'ed the budget and indicate that it is achievable. sh Reseives Polic and Goin Concein The trustees al'e of the view that the organisation should maintain a certain level of cash reserves to pi'otect against drops in income and to take advantage of any new opportunities that may arise. Their is no specific legal i'equijement to maintain a defined amount of ¢ash I'eseives (although three months of opei'ating expeiises is often quoted). The cash reserve policy specifies an appropi'iate minimum amount of cash reserves to be held. If the cash reserve level is set too high, it can make fundraising more difficiilt as it may appear that Highbury Roundhoiise (HRH) is hoarding cash so is not focused on front line service delivery. Conversely, setting the minimum cash I'eseive level too low may mal Cash and cash equivalents ot ihe beginning of the year 88,654 131,891 CASH AND CASH EQUIVALENTS AT END OF THL YEAR £148,485 £88,654 HIGHBI]RY ROUNDHOUSE ASSOCIATION LllkllTED (A COMPANY LIMITED BY GUARANTEE) (Registered Number: 01759460) NOTEI S TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES The principal accounting policies al'e summarised below. The accounting policies have been applied ¢onsisteiitly throughout the yeai. and in the pi'¢¢¢ding yeai.. These accounts have been prepai'ed undei. the historlcal cost convention with items i'ecognised at cost oi. transaction value unless otherwise stated in the relevant notes to these accounts. 1.1 Basls of accounting The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities pi'eparing their accounts in accordance with theFinancial Reporting s.tandard applicable in the UK and Republic of Ii'eland (FRS 102) (effective 1st January 2019)- (Charities SORP (FRS 102)), the Financial Repoiting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The chai'ity meets tlie defjnition of a public benefit entity under FRS 102. Assets and liabilities are initially i'ecognised at historical Cost or transaction value unless otherwise stated in the itlevant accounting policy notes. 1.2 Prepar2tlon of the ficcounts on a going eoncern basis At the time of approving the accounts. the dii'ectors have a i'easonable expectation that the chai'ity has adequate I'esource to continue in operation foi. the foreseeable futuit. The Trustees al'e confident that th¢ charity remains a going con¢¢i'n for the foreseeable future. 1.3 Incoming i'esources Income resoui'¢es are iiicluded on an accruals basis in the Statement of Financial Activities when the criteria of entitlement, probability of receipt and measurability have been met. Income from the local authority and othei- grants, whether"¢apital" or"revenue" grants, is recognised when entitlement to the funds. any perfomiance conditions attached to the gi?nt have been met. it is probable that the income will be I'eceived and the amount can be measuitd reliably and is not deferied. Income received in advance of contracted sei'vice deliveiy is deferred until the criteria for income tecognition are met. Donated services and facilities are included in the SOFA when received at the value of the gifl pl'ovided the value Can be measured reliably. Goods donated foi. on-going iise are recognised as tangible fixed assets and included in the SOFA as income fi'om donatioiis when receivable. Investment income is included in tlie SOFA when received. HIGHBURY ROUNDHOUSE ASSOCIATION LIIVllTED (A COMPANY LI￿lTED BY GUARANTEE) (Registered Number: 01759460) NOTES TO THE Fll¥ANCIAL STATEMENTS YEAR ENDII D 31 MARCH 2024 Incoming I'esoui'ces from gi'ants, wheit related to perfonnance and specific deliverables, aJE accounted foi. as the chai'ity is entitled to considaratton by its pei'formance. The value of any voluntaiy help I'eceived is not included in the accoiints, but is described in the trustees, anniial iyport. 1.4 Resources expended Expenditui'e is i'ecognised on an ac¢Tual basis as a liability is incuj'red. Expenditui'e includes any VAT which is not recoverable and is reported as part of thc expenditure to which it relates and the amount of the liability can be measured with i-easojiable ceitainty: Costs of raising funds compi'ise the costs associated with ath?cting voluntary income and the costs of fvndi'aising activity, 50/0 of core salary costs are apportioned to fundraislng. Expenditui'e on chaj'itable activities comprises those costs inciii'i'ed by the or8anisation in the deliveiy of its charitable activities. It includes both costs that can be allocated dii'ectly to such activities and those costs of an indirect natui'e necessaiy to support them. Governance costs are included in expenditure on chai'itable activities and incliide those costs associated witli ineeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the sti'ategic management of the chai'ity and have been calculated as follows: Audit Fee Legal Costs AGM Expenses Full Full Full Committee meetings Full Printing Postage & Stationery l O % Col'e Salaries 5 % All Costs ai'¢ allocated hetween the expenditur¢ ¢ategoi'ie8 of the SOFA on a basis designed to reflect the use of the i'esource. Costs Irlating to a particulai. activity are allocated directly; othe13 may be appoitioned on an appiDpriate basis. The allocation is shown in note 5, 1.5 Tangible fixed assets and depreciation Tangible fixed assets are stated at cost less acciimiilated depreciation. Whei'e appropi'iate the cost of minoi. additions oj. those costing below £1,000.00 may iiot be capitalised. Depreciation is provided at r&t¢s calciilated to write off the cost or valuation of eacli asset, ovet, its expected useful life on the followiiig basis: Office Equipment Fui'niture & Equipment Leasehold buildiiigs 33 113 0/0 Straight line basis 25Q/o reducing balance basis 10/0 Stjaiglit line basis 1.6 Fund accounting Unirstricted fui)ds are incolning resources receivable or genei'ated fol. the objects of the chai'ity withoiit a specified purpose and aiE available as general fiinds. HIGHBURY ROUNDHOUSE ASSOCIATION LIMITED (A COMPANY LIM]TED BY GUARANTE£) (Registered Number: 01759460) NOTES TO THE FINANCIAL STATEMENTS YrAR ENDED 31 MARCH 2024 Restri¢t¢d funds are to be used for a specifi¢ purpose as laid down by the donor. Expenditui'e which meets this criterion is charged to the fiind, together with a fair allocation of management and support costs. The aim and use of each iEsti'i¢ted fund is set oiit in the notes to the accounls. 1.7 Debtors Trade and other debtors aiE recognised at the settlement amount due after any ti'ade discount offei'ed. Prepaym¢nts are valued at the amount PlEpaid net of any tiade discount due. 1.8 Cash at bADk and ffin hand Cash at bank and cash in hand includes cash and shoit teiTh highly liquid deposits with a 30 day notice pei'iod or less held to meet short term cash commitments as they fall due, 1.9 Creditors and provisions Creditoi's and provisions are J'ecognised wh¢i'¢ there is a present obligation irsulting fi'om a past event that will probably result in the transfei, of funds to a thii'd paty and the amount due to settle the obligation can be ineasured or estimated reliably. Creditors and pi'ovisions are normally recognised at their settlement amount after allowing for any tiade discounts due. 1.10 Pensions The ti'ustees agreed that fi'om I st July 2016 the organisation will automatically enrol staff iiito the People's Pension scheme, wliich is funded by contributions from employees and employer, iinless staff opt out of the scheme. The scheme is a money purchase defined contribution scheme. 1.11 Financial instrument8 The oi'ganisation only has financial assets aiid fInancial liabilities of a kind that qualify as basic fLnancial instruments. Basic financial insti'uments are initially recognised at ts'ansaction value and subsequently measured at tl)¢lT settl¢mei)t valu¢. 1.12 Employee benefits The cost of any unused holiday entitleinent is Jt¢ognised in the pei'iod in which the einployee's seivices aiE I'eceived. Annual leave not taken is not noiinally cari'ied foi'ward. HIGHBURY ROUNDHOUSE ASSOCIATION LIMtTED (A col￿PANy LIMrrED BY GUARANTEI E) (Registered Numbei.: 01759460) NOTEI S TO THI FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 DONATIONS AND OTHER VOLUNTARY INCOME 2024 Total 2023 Total Unrestricled Restricted Fundrdising incotne Various donations 458 458 3.077 3,077 2,063 £3,535 £3,535 £2,063 GRANTS, CONTRACTS AND DONATIONS 2024 Total 2023 Tot#1 Unrestricted Restrlcted London Borough of Islinglon- contracts Fees & charges PA YE Scheme 91,900 273,808 459,311 365,708 459.311 5.000 100 311,030 449,501 5,000 . 8,000 32,891 5,000 50,000 17,241 5,000 Girater London Authoi'ity Lettings ￿ltherIng chai'itable objectives London Marathon 100 136,838 136,838 Nalion81 Lottery Powei. to Change SIS Project Sport England Various Bl'ants 16.979 16,979 14,950 14,950 7.234 £233,738 £765,148 £998,886 £885,897 OTHER ACTIVITIEI S 2024 Total 2023 Total Uiireslricted Restrlcted Parking fees Café and restaurant 456 456 31,152 458 31,152 Sundry income 458 63 £32,066 £32,066 £63 HIGHBURY Rouf4DHOUSE ASSOCIATION LIMITED {A COMPANY LIMITED BY GUARANfEEI IRegistered Number: 01759460) Nof£s TO THE FINANCJAL STATEMEwrs YEAR ENDED 31 MARCH 2024 TOTAL EXPENDITIJRE srnerED ÉXPENDITURE EXPENDITURE Penilon•rs Youtb prol•ct proltt Chlld mlDd•r¥ Pliy Icbemes After FuThd- Cor• ,712 U3J59 £99lJ25 4JOO 25 HIGHBURY ROUNDHOUSE ASSOCIATION LIMITED (A COMPANY LIMtTfD BY GUARANTEE) Oiegislei'ed Number: 01759460) NOTES TO THE FINANCIAL STATEMENTS ytl AR ENDED 31 MARCH 2024 NET INCOME FOR TKC YEI AR 2024 2023 Stated after charging: Deprecialion Amortisation £4,010 £34,353 £5,636 £2,841 £12,000 Audit015 i'emuneralion (external scrutiny) £13,230 STAFF COSTS 2024 2023 Staff costs ivere as follows: Salaries and wages Social se¢ui'ity costs Pension costs 565.743 507,628 35,952 13,655 41.642 13,984 £621,369 £557,23S No employee Irceived benefits, (excluding pension costs) of more than £60,000 in the year (2023.. NIL) Th¢ key management personnel comprise the trustees, the Chief Executive, Head of Services, Extended Schools Services Cooi'dinalor and four sei'vice managers. The total employee emoluments of the key management personnel were £278,875 (2023: £260,381). The senior mana8ement team¥ perforni a role in the direct operational activities of the charity. 2024 Number 27 2023 Number 28 The average monthly lieadeount of employees during Ihe year iv&s: Charitable Bclivities Maintenance and support Management and administration 33 35 Restri¢t¢d staff costs are met from funds specifically provided foi. that purpose. MUNERATION OF TRUSTEES & RELATED PARTY TRANSACTIONS No remuneration wa5 paid to Tru51ees or did they receive any other benefits fi'om an employment with another Charity during the year, nor was there any expenses reimbursed to trustees (2023.. NIL). o.ne of the h'ustees is a director of Class base. which delivers fitness cla55es in parinewship with the charity. No ftes were paid to the trustee or Class base in connection with Ihis partnership. No olhei- tiustee or othei. persons related lo Ihe charity had any personal inlei'esl in any conliicl oi. tt'8nsaction cnlei'ed into during Ilie yeai. (2023: NIL). 26 HKCItBURY ROUNDHOUSEI ASSOCIATION LIMITED (A COMPANY LllVllTED BY GUARANTEE) (Registered Number: 01759460) NOTES TO THEI FINANCIAL STATEME, NTS YEAR EI¥DfD 31 MARCH 2024 TANGtBLE FIXED ASSEI TS Offic¢ Equipment Furjiiture & Fittiiigs Lea5eliold Buildings Total 2023 Cost: As at 1st ApTiI 2023 37,397 67,771 3,409,809 3,514,977 Additions 4,712 23,518 28,230 As at 3111 March 2024 £37,397 £72,483 £3,433,327 £3,543,207 Accumulated depreclatlon: As at 1$1 April 2023 Charge for the year 35,343 735 59,381 3,276 2,841 34,353 97,565 38,364 As at 31. March 2024 £36,078 £62,657 £37,194 £135,929 Net booli value.. As at 3131 March 2024 £1,319 £9,826 £3,396,133 £3.407,278 As at 3111 March 2023 £2,054 £8,390 £3,406,968 £3,417,412 The above fixed assets are all used to further the company's charitable objectives. The new Community bullding is classified under leaschold. 10. DEBTORS 2024 2023 Trade d¢btors- contract income receivables 18.091 5,658 41,225 Sundry debtoi's and prepayments £18,091 £46,883 11. c￿DIToRS. Amouiits falling due Jyitliin one year 2024 2023 Bank and other loans 38.587 52,959 10,477 2.433 21,200 49,289 44,455 25,130 Sundry creditors and accruals Taxation and sooial security PensiDll costs 2,518 Dcfci'red income £J25,656 £121a92 27 HIGHBI)RY ROUNDHOUSE ASSOCIATION LIMITED (A COMPANY LIMtTEI D BY GUARANTEI E) (Registered ]Yumbei": 01759460) NOTCI S TO THE fiINANCIAL STATEMEI NTS YEI AR EI IYDED 31 MARCH 2024 12. CREDITORS: Amounts falling due after more tlian one year 2024 2023 Bank loans 194,402 65,600 185,899 Other loans 94,278 £260,002 £280,177 Of whffich: Amounts falling due between two and five years, interest 8.0 •/0 £108J89 £J14,188 Amounts falling due in more than five years, interest 8.0 Ya £151,613 £165,989 The bank loans al'e 5e¢ured by way of fixed and floating chai'ge on the leasehold pi'operty, 71 Ronalds Road N5 I XB and the other assets of the charity. 13. CHARITY FUNDS Stai't or yeor 2023 Income Expei15es 2024 Traiisfers End of yeY4r 2024 2024 2024 Restricted fiinds: Pensioners project Youth project Childminders proj¢¢t Play schemes Out of School service 2,214 111,476 (133,386) (43,271) (26,948) (137,951) (408,731) (34,353) 25.000 5,304 8,399 3,784 4,490 1,391 2,728 50,279 13,004 152,748 437,641 15,000 (15,000) (25,000) 4,693 2,661 2,889,983 29,629 2,280 Leasehold building Minibus fund 2,855,630 29,629 2,280 Pensioners forum Tolal restrleted funds £2,935,579 £765,148 (£784,640) £2,916,087 UnJ'e$trlcted funds: Genei'al funds 215,801 269,993 (213,685) 272,109 Total Unr¢strlcted 215.801 269,993 (213,685) 272,109 Total funds £3,ISIJ80 £1,035,141 (£998,32S) £3,188,196 28 HIGHBIiRY ROUNDHOUSE ASSOCIATION LUVIITED (A CO}￿ANy LIM]TED BY GUARAIYTEE) (Registered Number: 01759460) NOTES TO THEI FINANCIAL STATEMENTS YEAR EIYDED 31 MARCH 2024 14. IIFIALYSIS OF NET ASSETS BY FUND Restricted Fund5 Unresti'ieted Funds Total 2024 Tangible fixed ass¢ts Net current assets 3,396,133 (220,044) (260,002) 11,145 260,964 3,407,278 40,920 (260,002) Long tet7n liabilities Net Assets £2,916,087 £272,-109 £3,188,196 16. TAXATION The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of Ihe Taxation of Chargeable Gains Act 1992 to the extent that these are hpplied to its charitable objects. No tax Charges have arisen in the Charity. 17. GOVERNMENT GRANTS Income from government gi'ants comprises perfoimance related gi'ants made by the local authority and HMRC to nd the work of the organisalion is provided in note 3 of the financial statements. 18. DEFERRED INCOME Deferred income comprises grants received in the cu￿ent financial year but relatin8 to th¢ perfoi'monce of ctivities in th¢ following Ye￿.. 2024 2023 Balance at the start of the year Amount released to income eamed from Charitable activities 17,241 (17,241) Amounts defeiTed to the followin8 year 21,200 Balance as at the end of the year £21,200 Details of the defeiTed income are shown in note I I, of the fmancial statements. 29 lllGHBURY ROUNDHOUSE ASSOCIATION LIMITED (A COMPANY LIMITED BY GUARANTEI l) (Registered Number: 01759460) NOTES TO THE fINANCIAL STATElklENTS YEI AR ENDED 31 MARCH 2024 19. RECONCILIATION OF NET INCO￿ TO CASH GENERATED FROM OPERATING ACTIVITIES 2024 2023 Net in¢ome for the year Depreciation and amoi'tisation charge Inteir5t paid Int¢rest rcccived 36,816 38,364 15,711 (654) 28,792 33,871 8,477 10,059 (48) (906) Decrease l (increase) in d¢bto Decrease l (irjcrease) in creditors (7,652) 33,818 Ca$h g¢D¢i'ated from op¢r8tlng actlvltles £llla77 £85,271 20. LEASE COMMITMENTS On the 25th April 2017, the oi'ganisation signed a 99-yeai' lease on.. 71 Ronild's Road, London N5 1 XB. The Big Lottery Fund and CAF Bank have a legal charge on the leasehold building. The lease has ground rent of £500.00 payable annually, 21. STATUTORY INFORMATION Highbury Roundhouse Association Limited is a company limited by guaranlee, registered in England and Wales, I'egislration numbei. 1759460. The registered office is: 71 Ronalds Road, London, N5 1 XB. The prc5entallon cuffen¢y of Ihe flnanciul slal¥ineiils is 11)e Pound Sterling (£) und th¢ level of i-oundins 18 the n¢arest (£). 22. POST BALANCE SHEET EVE¢ NTS The or8anisation is aware of a number of cost pressures and challen8es facing the sector. Like othei. charities of similar size and capacity, the organisation has prepared a detailed budget, which has anti¢ipated some significant increases in costs. The trustee5 ait confident that the oi'ganisation, with the aid of the new community buildin8, will be able to meet the ch&llenges and serve the coiniyjunity foi. many yeais to come. In this regard, the organisation, lias prepai'ed a bhlanced bud8et for 202412025. The budget will be monitoiEd regularly during the year. 30