Charity Registration No. 518951 Company Reglstratlon No. 02050697 IEngland and Wales) ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 rotunda
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE LEGAL AND ADMINISTRATIVE INFORMATION Trustees Philip Cashen {Chairl William Connolly Philip Corfield Victoria Cowley Paula Mccabe Richard Meegan Keith Housley Paul Musa Chief Executive Officer M8xine Ennis Secretaryl Flnance Manager Jayne Eccleslon Charlty number 518951 Company number 02050597 Prfnclpal address Rotunda College 109 Great Mersey Street Liverpool Merseyside L5 2PL Reglstered office Rotunda College 109 Great Mersey Street Livery)tsol Mer5eyside L5 2PL Auditor BWM Suite 5.1 12 Tilhebarn Street Liverpoo5 L2 2DT Bankers Lloyds Bank 88-94 Church Street Liverpool L13HD
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE CONTENTS Page Trustees, r6POrt statement of trustees, resFx>nsibililies 10 Indep&ndenl auditorfs report Slalemenl of fin8n¢ial activities 14-75 Balat)ce sheet Slalemenl of cash flows 17 Notes lo the financial slalemonls 18-34
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 AUGUST 2023 The Trustees present their report and finanoal slalemenls lor the year ended 31 August 2023. The financial slalem¢nls have been prepared in accordance with the accounting policies set out in note 110 the rinancial statements and comply with the charity's governing document. the Companies Act 2006 and "Accounting and Reporting by Gharilies.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Stand8rd applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 2019)" Objectives and activities The main objective ol the charily1s lo advance education by the development of useful knowledge and skills benefilling adults and young people, especially those who have suffered or are suffeTing disadvantage Bnd exclusion. Rotunda have always described itself as 'as small charity wlh a big heartl, and this statement was alway5 in line wllh our huge ambitions and hopes for development lo support our community. This year has challenged our thinking in relation lo Ihis slalemenl when during a recruilrnenl programme a ¢andidale said that they wanted 'lo work for Rotunda as a big player in Liverpool's charitable seclor, who are reaching people from all over the city reoion with education, training, and miles Df other wrap around support and good stuff,. This challenged our mind sel about how we are perceived lo the 'oulside world. and went out to seek further opinion. Stakeholders across public, private and community sectors said that they see Rotunda as a strategic organisalion who just so happen lo be a charity, we are an organisalion who are making a real differen¢o 10 people's lives, we are Investin9 copious amounts in community assets and the build heritage of North Liverpool. we are the 'go lo, organisalion from public se¢tor for consullalion on strategic plans and that we simply are 'nol small,. Having gone from a £50k turnover and 4 metllbers of staff lo a £1 m turnover and 30 members of staff over the past 14 years, we suppose Ihelre rightl Here's lo continued growth and developm8nl to sUPPOrt the city region and our people- hard work and Lledicalion will make sure we continue lo do Ihisl Publlc Benefit The Trustees have paid due regard to guidance issued by the Chaiily Commission in deciding what a¢livities the charity should undertake.
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 AUGUST2023 AchSevements and performance Rotunda Ltd has seen a rewarding year of delivery for the community rt serves. We have seen many Changes nationally in terms ol government policy which have had large irnpacls on the community we serve. The cc>sl of livlng crisis is evolving and food poverty is becoming a key area of concern as we end this year's delivery. In spite of this, the year for Rotunda has seen many achievements and we are delighted lo report OLJr successes as well as some of the chall8noes we have faced along the way. The Trustees of Rotunda Ltd would like lo formally acknowledge our staff and volunteers for their continued dedication. hard work and commitment. as well as their resilience. kindness and passion in delivering quality services 10 811 of our learners and wider community. We wsh lo thank our learners and community members who continue lo pul their trust In us to support them wlh their education, personal devtrlopment and achievement of their ambitions. We would like lo also thank our stakeholders and partners for the help and support they have given us during the past year, and in particular those organisalions that have financially supported our work.. Onward Homes, Big Lollery ReaGhing Cornmunilies. Rushworth's Trust. Jo Malone (London), Liverpool City Council, Mersey Forest, Liverpool Clinical Commissioning Group, Merseyside Play Action Council, The Women's Org, VOLA, Department for Work and Pensions, Wse Group, Feeding Liverpool Food Aid. Steve Morgan Foundation, VVEA, Sefton Community Learning Services and Power lo Change. We would like lo espeaally thank tho86 organisalions who have given freely of their lime, knowledge and expertise to support Rotunda lo achieve our charitable aims.. HalsaS1 Lloyd Partnership, Liverpool City Rotary and AB Building and Maintenance. Rotunda's business development plans, alms and objectives Continue lo be dellvered to the highest quality and with amazing outcomes for our palrons. Having a diverse group of conlr3cls and grant funds has enabled the delivery of diverse education. training, employment and community engagement programmes during the period. Our Continued subcontract with WEA for Liverpool City Region Combined Authority - Adult Education Budget IAEBI, has enabled us lo continue lo deliver high quality e(Sucalion al gr8ss roots level. Our embedded Management Information System has enabled the information oveT the period lo be recorded and reported on with high levels of accuracy and accounlabilily. Our nursery and preschool have gone from slrenglh lo strength with a dedicated team of professionals who have ensured the delivery of high quality earby years, education lo children in our community. Rotunda have continued lo provide subsidised childcare for families wlh a further year of no price increase as well as fully funded nursery places for families who are accessing our educational programme$. Rotunda have a lol to be grateful for given the adversity and challenges which have been part of the year bul as aayS the resillence and perseverance of the team to ensure we maintain a strong commun1ty presence is clear for all lo see.
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Buildlng Renovat5on The works to the Grade 11 listed buildings of 109-115 Greal Mersey Street were completed in July 2023, where the formal 'culling of the iibbon, was facilitated by Mayor Steve Rolheram. Liverpool City Region Combined Authority - Skills Investment Fund and Reaching Communities funded the refurbishmenls. The completed works have ensured that the envelope of the building has be¢ome 'safe. warm and dry, detailed works including new M4ndows, new boiler system, steps fffurbishmenl and new railings. The environmental iinpacts of this project are tangible in supporting the charity with suslainabilily outcomes and redtjcing energy bills. Education Our Education Team Continue lo deliver high quality education al grass roots level wlh those people who are often noted as 'hard lo reach,. Rotunda's USP in educational delivery is about providing positive experience5 for people who may not have had the best lime at mainstream schools and Colleges in their younger years. During the period 202212023, across the delivery of both 'privale' and 'Adull Education Budget,, we worked with 340 individuals, of these.. 33Qkn ethnialy was identified a8'any other background, against those identified as BrilishnNalshlScottishl 240h considered themselves lo have a disability or leaming support need- above the national average of learners who cons1(feTed themselves with this need which wa$ 18.50 66.5% identifying themselves as unemployed. We have delivered 377 oualilicalions over the period, wilh an 880A pass rale which is improved on the previous year. Functional skills achievement rates have risen signilicanlly during this academic year with maths learners from Entry 1 to Level 1 achieving al a IOOYO pass rate. Level 2 maths learner's achievement rates increase by 7QA bul this h2S Some way lo go lo narrow the gap. English achievement rates have in¢r&ased by 11 OA lo an overall rale Df 80% across the year and the aehievemenl rale of 81°A al Level 2 is particularly iinpressive. Our success is re¢ognised through the input from Rotunda's three Internal Quality Assurance {IQAI personnel and fiv¢ fully qualified teachers, all of whom are amazin9 in devel(>ping qualifications in partnership with learners and employers to ensure that we are meeting local need. New qualifi¢ations this year included the immensely popular Level 2 Supporting Teaching and Learning PriraMMe whid) Is delivered alongside Entry 3 British Values and Level 2 Safeguarding and Prevonl this package of qualifications was identified through employer consullalion as starting points for people wanting lo pursue employrnenl in this field. We have gained Direct Claim for each of the qualifications delivered, which is the relevant, national awarding body quality assurance approval. Rotunda wishes to thank awarding body partners, Highfield, NCFE and NOCN for their continued support during this period. Leamers have said that Rotunda's customer focused Engagement Team pul them al ease and signposted them in the right edu¢alional direction. They said that the team are always keen lo encourage learning and advised either formal learning, volunteering, confidence bLJilding or informal learning. The team were commended on advicelguidance lo AEB learners regarding additional support available lo further break down any barriers lo learning, which include subsidised childcare. subsidised travel and also subsidised food from the onsite calé whilst in learning. During the period, Rotunda have had oulslanding feedback from Commissioners al INEA and VOLA resulting from Observations of Teaching Learning and Assessment and both partner organisalions held delivery up as model of good practice. Our curricLJlum developmenl plan for the forthcorning period have been developed in line with key local and national strategic priorities. The development of a Level 3 Diploma in Counselling Skills will be the new flag ship programme in the new mental health suite of qualifications. Alongside this, other new qualifications for the forthcoming period includes 8 Leval 2 Award in Environmental Awareness and Climate Change. Digital Inclusion work Digital inclusion continues lo be a priority for members ol our community and this year we have continued lo build this area 2nd have worked with 29 people in supporting them lo upskill in digital skills. Our continued partnership with VOLA and the Include IT Mersey programme Inow funded via Liverpool City Region Combined Aulhorilyl has enabled Rotunda Ltd lo deliver basic IT aci'oss Liverpool and Sefton.
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (INGLUDING DIRECTORS, REPORT) {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST2023 Early Years at Rotunda The Rotunda Nursery and Pre-school has continued lo go from strength to 51Tenglh, providing early years, education lor 29 children. Th& team have come together over the past year lo provide ¢realive educ21ion81 experiences for our children. Our team have ensured that children are al the centre of everything th81 we do and plan exciting, ¢hallenging and fun experiences for them to help them learn, develop and grow. The implemenlalion of Forest School as a core part of the nursery cuiriculum has resulted in Friday Forest Day, whereby all children Ino matter the weather) spend the day in the Rotunda Community Gardens taking part in bijgh craft. building tepees and using natural resources in food and drink. Our curri¢ulum has a strong focus on language due tts our high numbers of childTen who speak English as an Additional Language, children with Special Educational Needs and Disabilities and children who have not had opportunities lo be in language rich environments due to the pandemic and lockdowns. We have been fortunatè during this period to have gained funding from Liverpool City Council lo gel support and training which has enabled us lo deveSop our enirironmenl so that il provides communication and language rich experiences and lo develop our team's ability to extend children's communication and inleracllon skills. The Rotunda Nursery and pre.school has a highly qualified and experienced leam who work together lo provide a safe and nurturing environment. We have assigned 'champions and co-ordinators" lo ensure our children are provided with the best possible start lo their learning journey. This includes a Language Champion, Physical Health and Nutrition Ci>ordinator, Special Edu¢ational Needs and Disabilities Co-ordinator, Parent Partnership Champion, Emotional Hoallh and Well-being Champion and Forest School Co-ordinator. Through these additiona1 roles, our team wembers have implemented a range of ways lo support children's leaming and development, physical and mental health and lo strengthen relalionships with our parents and carers. Team members have attended Iraining lo strengthen their knowledge on Ihoir specialist areas and bring strategies back in lo the selling. During the period. our nursery has contsnued lo provide subsidised places for families from the local area as well as meeting the government funded places lor children, In addition. we have proviéed fully funded places for leamers who are educating al Rotunda. Rotunda Nursery and Pre-school is a mullicullural selling wwlh over half ol our children speaking English as an Additional Language. Some of the home languages of our Children during the period include Vietnamese, French, Turkish, Arabic, Romanian, Bulgarian, Igbo, Polish, Esam and Ibibio. We recognise that our children come from a wealth of backgrounds and find ways lo indude and celebrate the different traditions and cultures of our families within Nursery life. Our current nursery provision has two age groups across our Iwo settings, and our plans for the ftjlure indude relocating our nursery into a purpose built facility lo increase occupancy and also lo have all age groups together. Our future plans will also include a baby unil which is something we don't currently have due lo space. Our current Pre.school selling does not have free-fiow access lo an outdoor space and so breaks in continuous provision are necessary lo ensure that children are spending lime outdoors. The Pre-school children access the communily garden and use the nursery garden bul having a secure purpose built space allowing free-flow access would benefit the holi51ic development across all areas of leaming as well as support children who rely on sensory input to access the daily routine and curriculum. Childcare sufficiency reports show a need lor more nuiseiy places lo meet demand, which is increasing due to the governmtsnls childcare expansion programme offering funded hours lo children from the age of nine months. To develop the nursery and our future plans, we have lo Include 811 age groups from babies up until praschool age lo enable a full and viable earfy years delivery. Al the present lime, Rotunda are limited lo eleven children in our Pre-sohool building, which is facililaled by two staff members working on a ratio of 1."9. This means Ihal we have the glaffing capacity lor a further seven children bul do not have th$ space required lo accommodate these. We can also have eighteen children in our Nursery and have lo limit the number of existing children transitioning lo Pre-s¢hool al any lime so that we are still able lo offer nursery spaces lo new families in order lo sustain income from both funded and private places. Our hope lor the future is that expanding our curfenl provision will offer more places lo more families who want lo access our unique setting.
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORTI (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Rotunda Café Rotunda's community café has been a hive of activity during the period. 11 has been a meeting place lor community members, learners, businesses and other charitable organisalions. During the period, the calé has provided hol meals lo Rotunda Nursttry and Pre.School as il was identified that some children were living in food poverty 8nd parenlslcarers would struggle lo provide packed lunches each day. The café has also provided hol food lo learners allending educational courses al Rotunda who again have been identified as living in food poverty lo ensure that they have a hol meal lo lake them through their lime learning. The Rotunda Café has become home lo the Knit Wils {Ihe knillinglcrochel group), Kirkdale Kickers (bingo groupl, and Memories Café (dementia and reminisce group) as well a monthly venue for the Ladies that Lunch and all of Ihe other won¢Jerful patrons from Rotunda. Rotltnda Community Gardens The Rotunda patrons tell LJS how lucky they are lo have the Rtslunda Community Gardens in the heart of our area. Sponsored by Jo Malone London, the garden continues lo have daily activities which include our work rith volunteers, engagement with local schools, Forest School a1VItIeS, mindfulness and meditation sessions, school holi(Say aclivilies, Plot lo Pot programmes and community members taking some lime out for themSeeS. We are excited for the future of the delivery in the gardens whlch will bring engage with people in holistic aclivilies, see community growing programmes and a men's mental health project. Enabllng SeNl¢es Rolunda's DWP funded Women's Hub has ljecome an anchor group for women in the communty lo support them with the mental health and wellbeing, providing coaching and employability support as well as giving them a safe place lo develop personally, The Hub has worked with 88 wtsmen during the period wilh 20% movin9 into sustainable employment with the help and support of our team. 80D/o of the women undertook a qualification whilst al the Hub and 100% of the women all achieved a social justice outcome. Rotunda's Homework Hub and Grub has become well established with young people from primary and secondary age groups allending these sessions twice a week. Facililaled by two members of the Rotunda leaching team, they provide science, maths, English and IT support in a lun and relaxed environment- alongside feeding each youn9 person whilst in session. The Hub has also played a crucial role in supporting the observational outcomes needed for the adult Teaching Assistant qualification. as a pla where they can pul into practice their planned activity with children and be observed by a member of the leaching team lor their portfollo of evidence. We continue lo deliver a sm811 seNce under the Weare Hub with support from RAISE as our community partner. This is a seNice for people needing welfare advice or housing advice. Over the period we have held weekly sessions in the Rotunda Café and advertised this widely over our social medi8 oullels. Due to funding cuts, the counselling service has had lo be signilicanlly Cul back over the period. Support provided lo trainee counsellors from Edge Hill University has been paused until we can source the support lo employ a counselling supervisor. One of our strategic aims for the forthcoming period is to reinslale this service Grants Our target for grant income for 202312024 is £250k lo mettl our largel and achieve suslainabilily for our enablin9 service.
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Community Engagement From September 2022 to August 2023. Rotunda received £28,979 from ThAPAC and HAF ensuring Ihal the children in our local community had activities and access lo hol food during the school holidays. W6 provided a lolal of 1200 hol meals and snacks and sandwches lor home. In addition, we provided food hampers for parenlsl carers lo lake home lo help alleviate the additional costs of feeding children during schoo1 holidays. At Christmas 2022 we received 250 gifts and toys for children and young people aged 0-16 years from Cash for Kids and distributed these during Christmas week alongside 100 selection boxes, so that every child and young person involved with Rotunda had al least one present and selection box on Chrlslmas morning. We conlinue lo prOVde daily food lop ups via our Right Fed Shed, with the continued generosity of Aldi, Salop Street and Sainsbury's, Great Homer Street we are abse lo distribute their surplus food to many families from across the community. On average there are 30 people per day who access the shed for food support. We are again grateful lo Jo Malone London for their continued supptsrt In the sponsorship of our beautiful well- being garden. The garden has been used by so many people for so many different purposes this year, including Forest Sd)ool, well-being and mindfulness, m6dilalion, Plot lo Pot session and general community Ljse. The garden has been the venue ol delivery for all school holiday activities hosting 30 children per session for adventures and memory making. Rotunda Enterpri5e5 CIC During the period our sister company Rotunda Enterprises CIC were successful in a grant application lo Awards for All to provide a community facility for people and their familles who are living with Dementia. The Memories Cafe is an exciting new project which aims lo bring people together In a ¢alm and safe environment, where they can reminis, support each other and have an enjoyable lime. strategic Partnershlps Our CEO continues lo develop slTaleglc partnerships across the Liverpool City Region, and sil on several advisory boards and comrnillees lo support social justice and influence change for our local communities. Our employer partners have grown significantly this year with a 3rd of our learners moving into sustainable employment as a result. Rotunda are part of a new chapter of Citizens UK being developed within the Cater Liverpool Area. Our CEO is a member of the founder group and is taking a lead in steering this forward. To dale Liverpool Citizens have engaged 19 organisalions from many different sector areas. Meetings with local MP'S have taken pla¢e with more booked in for Ihe forth¢oming period. Rotunda 8r& forming a 'listening campai9n' so we can hear what our local Community want and need and with the gTowing strength ol Liverpool Ci112ens we can push the agenda lor change within our local communities. New Developments During this period, Rotunda began on an exciting new joumey lo provide further social and economic impacts for the Liverpool City Region, particularfy North Liverpool. Rotunda Community Land Trust was established in May and is sel up to develop social housing in line wlh a needs analysis from community members. This new organisalion is working in partnership with Liverpool City Council lo support them lo delivery their strategic objectives. The CLT are working towards taking ownership of land in the Everton ward ol North Liverpool (adjacent lo the Rotunda home ward of Kirkdalel and developing Ihis in partnership with a local Registered Landlord lo create more affordable homes in the community.
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Financlal revSew The results for the year and the charity's finanu21 position al the end of the year arg shown in the allached financial slalemenls. Total income in the year was £952,44612022'. £1,198,358) before accounling for the release of deferred income in fflalion lo the refurbishment project of £244,719 12022.. £589,689) Isee note 71 and the insurance claims lolalling1£10,140112022'. £218.6781 Ise& nole 81. Expendilure was £964,19312022.' £1,182,051). The surplus for the year 18 £222,83212022'. £822,670). As al 31 August 2023, the Charity had reserves of £2,811.71012022'. £2.588,878), Induded within these reserves are £979,259 12022.. £973,499) of restricted funds (see note 251. Included within unreslricled funds are fixed assets lolalling £1,522,38312022'. £1,363,932). the balance of the fixed assets are included within the reslricled funds, These funds can only be realised upon sal& of these assets. The charity had free reserves of £310,067 as al 31 August 202312022.. £251,446). Reservès pollcy The ¢harity has successfully Incased free unreslricled funds to a level equNalent lo more than three months, lolal expenditure. The trustees consid&r that resewes al this level will provide financial stability whilst additional funding is sought. Risk policy The Trustees have examined the major slralegic, business and operational risks which the charitable COTllpany may face and believe that all major risks have been identified. The Trustees have adopted 8 formal Risk Assessment procedure and have established systems lo ensure that the necessary steps can be taken lo miligale these risks. Future Plans The year has been about planning and moving forward with large strategic objectives and this work has taken us lo a pla¢e whereby the plans for the lulure are on solid ground with the foundation works completed in 22123. The whole team are really excited and passionate about the forthcoming period and importantly are fully commilled lo ensurlng that our plans are realised lo ensure future success and susiainabilify for Rotunda and the cornmunily we serve. We have identifi'ed that Rotunda's Community Led Housing programme wll be 8 key 51ralegic priorily and focus for works for the forthcoming period fjth the aim of creating social housing for members of the community. Working with Liverpool City Council, Llverpool City Region Combined Aulhorlty, Halsall Lloyd Partnership Jnd Sovini Group our aim il lo develop a full business plan and financial model lo prowde a viable housing scheme. In addition, our aim is lo secure 117 Great Mersey Street in perpeluily for the community- this buildlng (which will see Rotunda own the whole terrace blockl has been a blight on the area for many years, passing through the hands of private landlords who have allowed the property lo become derelict and a hazard in our community. In the period the property was enlered for auction bul wilh(STawn at the last minute we are working hard lo ensure that Rotunda are given the opportunity lo secure this and develop il inlo stjpported housing lor women. Alongside this, our nursery developmènt is a further key strategic priority. Our plans for the future period are lo design, develop and lundraise for the new and exciting purpose built nursery provision. We know that this is a much needed facilily in North Liverpool and the strategic team taking this forward will ensure that we move swiftly to realise the project in as quicker lim&scale as we can. For Ihe forthcoming period, we will ¢onllnue lo diversify the educational offtsrs wlhin our adult education d&livery, ID ensure that we are meeting the needs of employers and learners a¢ross the communities we serve. We will develop direcl Iraining offers with employers and housing associations lo diversify our delivery offers. Our team Is committed and skilled, they are trusted by the community lo support them on their journey and feel Ihis is the lime lo expand the offer lo other sectors. Abov$ all, our fuluie plans will conllnue lo pul our Community al the heart of all we do- we 17 listen lo them and their needs and provlde the support and infrastructure within our amazing charity.
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Stru¢ture, governance and management The charity is a company limited by guarantee, incorporated on 28 August 1986 and registered as a charity on 17 July 1987. The charity was established under a Memorandum of Association which established the objects and powers of the company and is governed under ils Articles of Association. The Trustees, who are also the Dire¢lors for the purpose of company law. and who setved during the year and up lo the dale of signature ol the finanaal slalemenls were.. Philip Cashen (Chairl Iliam Connolly Philip Corfield Victoria Cowley Annelle Johnson Paula Mccabe Richard Meegan Keith Housley Howard Fleming Paul Musa (Resigned 18 September 20231 IResigned 18 September 20231 Th¢ Board of Trustees consists of at least seven bul not more than eleven individuals. The Board ofTruslees may appoint any person nominated by any member of tho Asso¢ialion as a member of the Board of Trustees. No person who is not a member of the Assoclalion shall in any circumstances be eligible lo hold office os a member of the Board of Trustees. All trustees are asked lo sign lo confirm their eligibility lo setve as a Iruslee and as a director. Al the beginnin9 of every meeting all Trustees and repiesenlalives are reminded of their obligation lo declare an interest in any item and, if necessary, withdraw from furthei discussions and decision making on that subject. The Board of Trustees met on a regular basis throughout the year. None of the TrLJslees has any beneficial interest in the company. All of th¢ Trustees are members of the company and guarantee lo contribute £1 in the event of a winding up. A Chief Executive is appointed by the Trustees lo manage the day-lovday operations of the charity. A Remuneration Committee will dolermine the salary of members of the Executive Team. Audltor In accordance with the company's artides, a resolubon proposing that be reappointed as avdilor ol the Company will be pul al a General Meeting. Disclosure of informallon to audltor Each of the Trustees has confirmed that there is no inftsrm81ion of which they are aware which is relevant lo the audit, bul Of which the auditor is unaware. They have fvrther confirmed that they have taken appropriate steps to identify such relevant information and lo eslablish that the auditor is aware of su¢h information.
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Small company provlslons This report lias been prepared in accordance with the special provisions relating lo small companies within Part 16 01 the Companies Act 2006. Onbe d ofTruslees Illp Cashen Ichairl Trustee Dated..
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2023 The Trustees, who are also the directors of Rolund8 Ltd. for the purpose ol company law, are responsible for preparing the Trustees, Report and the financial slalemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. Company Law requires the Trustees lo prepare financial slalemenls for each financial year which give a true and lair view of the stale of affairs of the charity and ol the incoming resources and application of resources, including the income and expenditure, of the chaiitable company for that year. In preparing these finanaal slatemenls, the Trustees are required to". select suitable soUntIng policies and then apply them consislenlly., obsetve the methods and principles in the Charities SORP., make judgèments and estimates that are Teasonable and prudent., slate wthelher applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the f5nancial slalements., and prepar& th& financial statements on the going concern basis unless il is inappropriate to presume Ihal the charity will Continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose wlh reasonable accuracy al any lime the financlal pc>silion of the Charity and enable them lo ensure that the financial slalemenls comply with the Companies Acl 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 10-
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ROTUNDA LTD. Opinion We have audiled the financial statemen15 of Rotunda Ltd. Ilhe 'charity'l for the year ended 31 August 2023 which comprise the slalemenl of finan21 aclivilies, the balance sheet, the slalemenl of cash flows and notes lo the financial slalemenls, including signifi¢anl accounting poliaes. The financial reporting framework that has been applied in IheiT preparation is appli¢able law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Fin8n¢ial Reporting Slandard 8ppliGable in the UK and R8public of Ireland Iuniled Kingdom Generally Accepted Accounting Practice}. In our opinion, the financial slatemenls.. give a true and fair view of the slate of the charitable company's affaiTS as al 31 August 2023 and of ils incoming resources and application of resources, including ils income and expenditure, for the year then onded", have been properly prepared in accordance with United Kingdom Generally Accepted A¢counling Practice.. and have been prepared in accordan¢e with the requirements of the Companies Act 2006. Basis for oplnion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUIQI and applicable law. Our responsibilities under those standards are further described in the Auditoi"s responsibilili8s for Ihe audil of the financial sl8temenls section of our report. We are independenl of the chaTity in accordance with th8 ethical requirements that are relevant to our audit of the financial slalemenls in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other elhioal responsibilities in a¢cordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Concluslons relatlng to going concern In auditing the finanGial slalemenls, we have Concluded that the Iruslees, use of the going concern basis of accounting in the preparation of the financial slalemenls is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that. individually or collectively, may cast significanl doubl on the charity's ability lo continue as a going ¢on¢ern for a period of al least twelve months from when the financial statements are aulhorised for issue. Our responsibilities and the responslbililies of the Trustees with respect lo going con¢ern are described in the relevant sections of this report. Other information The olheT information comprises the infomalion included in the annual report other than the financial slalements and our auditor's report Ihereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the finanoal slalemenls does not cover the other information and, except ID the extent olherwse exp5i¢itly $131ed in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is lo read the other information and, in doing so, consider whether the other inftsrmalion is materially in¢onsislenl with the financial statements or our knowledge obtained in the course tsf the audit, or olhenwse appears lo bg materially misslaled. If we identify such material inconsistencies or apparent material misslalemenls, we are raqured lo deleimine whether this gives rise lo a material misslalemenl in the financi81 slalemenls themselvès. If. based on the work we have performed, we conclude that there is a material misslatemenl ol this other information. we are required lo report that fact. We have nothing lo report in this regard. Opinions on other matters prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of our audit.. thtr Information given in the trustees, report for the financial yéar for which the financial slalemenls are prepared. which includes the directors, report prepared lor the purposes of company law, is consisl&nl wlh the financial slalements., and the directors, report included within the Iruslees, report has been prepared in accordance with applicable legal requirements.
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF ROTUNDA LTD. Matters on which we are required to report by exceptlon In the light of the knowledge and understanding of the charity and 118 environment obtained in the course of the audit, we have not identified material misslalemenls in the directors, report included within the Iruslee5' report. We have nothing lo report in respect of the following mallers in relation lo which the Companies Act 2006 requires us lo report lo you if, in our opinion.. adequate accounting records have not been kept, or retums adequate for our audit have not been received from branches not visited by us," or the financial slalemenls are nol in agreement W41h the accounting records and returns.. or certain disclosures ol Iruslees, remLJneralion specified by law are not made.. or we have not received all the information and explanations we require for our audit., or the Trustees were not enlilled lo prepare the financial slalemenls in accordance wlh the small companies regime and lake advantage of the small companies, exemptions in preparing the Iruslees, report and from the requirement lo prepare a strategic report. Responslbllitles of Trustees As explained more lully in the slalemenl of Iruslees, responsibililles, the Trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that Ihey give a true and fair view, and for such inlemal control as the Trustees determine is necessary to enable the preparation of financial slalements that are free from material misslalement. whether dLJe to fraud or error. In preparing the financial slatemenls, the Trustees are responsible for assessing the charity's ability lo continue as a going concern, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounting unless the Trustees either intend to liquid8te the charitable company or lo cease operations. or have no realistic allernalive bul lo do so. Auditor's responsibilities for the audit of the financial ststements Our objectives are lo obtain reasonable assurance about whether the financial slalemenls as a whole are free from material misslalemenl, whether due lo fraud or error. and lo issue 8n auditor's report that indudes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance wth ISAS {UKI will aayS detect a material misstalemenl when il exists. Misstalemenls can arise from fraud or error and are Considered material if, individually or in the aggregate, they could reasonably be expected to influencg the economic deasions of users taken on the basis of these financial slatemenls. Irregularities, including fraud, are inslances of non-compliance with laws and regulations. We design proce(Sures in line with our responsibilities, outlined above. lo delecl material misslalemenls in respect of Sriegularilies, including fraud. The exlenl lo which our procedures are capable of delecling irregularities, including fraud, is detailed below. The extent to whlch the audlt was consldered capable of detecting irreyularitlès, Incluiflng fraud Our approach lo identifying and assessing the risks ol maleiial misslalemenl in respect of irregularities, including fraud and non-¢ompli8nce with laws and regulations, was as follows.. the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills lo identify or recognise non-compliance with applicable laws and regulations., we identified the laws and regulations applicable lo the company through discussions with directors and other Inanageimenl, we foGused on specific laws and regulations which we considered may have a direct material effect on the financial slalemenls or the operations of the company, including (he Cotllpanies Act 2008, laxalion legislation and data protection, anti-bribery, employment and health ancl safely legislation., we assessed the exlenl of compliance with the laws and regul81ions identified above through making enquiries of management and inspecting legal Correspondence". and identified laws and regulations were communicated within the audit team regularSy and the leam remained alert to InStanS of non-compliance throughout the audit. 12
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT (CONTINUEDI TO THE MEMBERS OF ROTUNDA LTD. We assessed the susceptibility of the company's financial slalements to matèrial misslalemenl, including obtaining an undeislanding of how fraud mighl occur, by.. making enquiries of management as lo where they cc)nsidered there was susceptlbility to fraud, Ihelr knowledge of actual, suspected and alleged fraud., and considering the inlernal controls in place lo miligale risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of ¢onlrols. we.. performed analytical procedures lo identify any unusual or unexpected relationships., lesled journal entries lo identify unusual Iransaclions., assessed whether judgemenls and 8ssumptions made in determining the accounllng eslimales were indicative of potential bias., and inv6sligaled the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-¢omplian¢e wlh laws and regulations. we designed procedures whith included, bul were not limited lo.. agreeing finanaal slalemenl disclosures lo underlying supportino dtscumenlallon., reading the minutes of meetings of those d)arged with governance,. and enquiring of management as lo actual and potential liligalion anad clairns. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions. the less likely it is that we would be¢ome aware of non-compliance. Auditing standards also limit the audil pro¢edures required lo idenlfy nOn-Mplianee wlh laws and regulations to enquiry of the dire¢lors and other management and the inspection ol regulatory and legal correspondence, if any. Material misstalemenls that arise due lo fraud can be harder lo dele¢l than thos6 that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities is available on the Financial Reporting Council's website al.. hllps'.11 www.frc.org.uklaudilorsresponsibilities. This description forms part of our aucsilor's report. Use ofour r&port This report is made solely lo the charitable company's members, as a body, in ac¢ordan¢e with Chapter 3 of Part 1 S ol the Companies Act 2006. Our audit work has been undertaken so that we might slate lo the charil8ble company's members those mallers we are required lo slate lo them in an auditor's report and for no other puipose. To the fullest &xlenl permilled by law, we do not accept or assume responsibility lo anyone other than the charitable company and the charitable company's members as a body. for our audit work, lor this report, Lir for the opinions we have formed. Louise Casey ACA Isei?ior Statutory Auditor) for and on behalf of BWM 20 May 2024 Chartered Accountants Statutory Auditor Suite 5.1 fj2 Tilhebarn Street Liverpo L2 2DT
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST2023 Current financial year Restated Unrestricted Restrlctèd funds funds 2023 2023 Total 2023 2022 Notes Income and èndowments from- Donations and legacies Charitable a¢tivilies Other trading activities Investments Grant income in relation lo refurbishment project Other income 72,819 785,969 59.892 20,031 159,977 110,1401 72.819 799,704 59,892 20,031 244.719 {10,1401 60,713 1,058,825 59,543 17,275 589,689 218.876 13.735 84,742 Total income 1,088,548 98,477 1,187,025 2,004,721 Ex enditure on: Raising funds 64,527 64,527 49,975 Charitable activities 10 880.168 19,498 899,666 1,127.332 Other 16 4,744 Total expenditure 944,695 19,498 984,193 1,182.051 Net income before transfers 143,853 78,979 222,832 822,870 Gross transfers between funds 26 73.219 {73,2191 Net Income for the yearl Net movement in funds 217,072 5,760 222,832 822,670 Fund balances al 1 September 2022 1,615,379 973,499 2,588,878 1.766,208 Fund balances at 31 August 2023 1,832.451 979,259 2,811,710 2,588,878 The sl818menl of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from Continuing aclivilies. The slalemenl of financial activities also cornplies with the requirements for an income and expenditure account under the Companies Act 2006. 14-
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2023 Prlor financlal year Unrestrl¢led Restricted funds funds 2022 2022 Total 2022 Notes Income and endowments from.. Donations and legacies Charitable activities Other trading activities Investments Grant income in relation lo refurbi5hmenl project Other income 60.713 680,522 56.543 17.275 589.689 218.676 60,713 378,303 1,058,825 3,000 59,543 17,275 589,689 218,676 Total income 1,623,418 381.303 2,004,721 enditure on.. Raising funds 46,975 3.000 49,975 Charitsble activities 10 785,233 342,099 1,127,332 Other 15 4,744 4,744 Total expenditure 836,952 345,099 1,182,051 Net Income before transfers 788,466 36,204 822.670 Gross transfers between funds 26 109,999 1109,9991 Net income for the yearl Net movement in funds 896,465 173,7951 822,670 Fund balances al 1 Seplembfyr 2021 718,914 1,047,294 1,766.208 Fund balances at 31 August 2022 1.615,379 973,499 2,588,878 15-
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE BALANCE SHEET AS AT 31 AUGUST 2023 2023 2022 Notes Flxed assets Tangible assets Inveslmenls 16 17 2,401,011 2.321.7 2,401,012 2,321,068 Current assèts stocks Deblors Cash at bank and in hand 18 20 941 124,374 479,109 221,009 436,990 604,424 857,999 Creditors: amounts falllng due wSthln one year 21 177,562} 1233,8901 Net current assets 526,862 424,109 Total assets less Currènt Ilabilities 2,927,874 2,745,177 Crédlto.' amounts falling due after more than one year 22 (116.1841 1156,2991 Net assets 2,811,710 2,588,878 Income funds Restricted funds Unreslricled fund8 26 979,259 1,832,451 973,499 1,615,379 2,811,710 2,588,878 These financial statements have been prepared in accordance wlh the provisions applicable lo cornpanies subject lo the small companies regime. The financia ernenls were approved by the Trustees on Philip Cashen (Chairl Trustee Company reglstratlon number 02050597 16-
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2023 Restated 2022 2023 Notes Cash flows from operatlng actlvltles Cash generated from operalions 31 197.973 272,398 Investlng activltles Purchase ol tangible fixed assets Inveslmenl income received 1129,840) 20,031 1295,3341 17,275 Net cash usèd In Investing activities {109,809) 1278.0591 Flnancing activities PToceeds from new bank103ns Repayment of bank loans 115,000 124,900} 146,0451 Nat Gash (used Inllgenerated from flnan¢lng aGtivities 146,045) 90.100 Net incrèase In cash and cash equivalents 42,119 84,439 Cash and cash equivalents al beginning of year 436.990 352,551 Cash and cash equivalents at end of year 479,109 436,990 17-
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Accounting pollclès Charity information Rotunda Ltd. is a pi'ivale company limited by guarantee incoiporaled in England and Wales. The registered office is Rotunda College, 109 Great Meisey Street, Liverpool, Merseyside, L5 2PL. 1.1 Accountlng convention The financial statements have been prepared in accordance with the charity's goveming document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement ol Recommended Practice applicable lo charities preparing their a¢nIS in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iieland {FRS 1021 leffeclive 1 January 20191 The charity is a Publi¢ Benefil Enlily as defined by FRS 102. The financial slalemenls are prepared in sterling, wthich is the functional currency of the charity. Monetary amounts in these financial slalements are rounded to the nearest £. The financial slalements have been prepared under the historical cost convention. The principal accounting po5iaes adopted are sel out below. 1.2 Prlor period restatement The prior year figures have been reslaled following a change in the split of charitable and trading activities so that the comparatives remain comparable. 1.3 Golng ¢oncern Al the time of approvlng the financial slalements, the Trustees have a reasonable expe¢lalion that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the Trustees continue lo adopt the going concern basis of accounting in preparing the finanaal s12tements. 1.4 Charitable funds Unrestricted general funds - Ih8se are funds which can be used in accordance with the charitable objects al Ihe discretion of the Iruslees. Reslricled funds. these are funds that can only be used for particular reslricled purposes wlhin the objects Df the charity. Reslriclions 8rlse when speafied by the donor or when funds are raised for particular reslri¢led purposes. 1.5 Income All donations received are recognised 8t the lime of receipt. Unless specifically designated, all income received from donations will be treated as unrtsslri¢led funds for the Charity lo do wlh as they see fil. Goods and service5 provided free of charge lo the Charity are recognised as other income using the trustees, eslimalo of the amounts the Charity would have lo pay in the open market for their equivalents. Grants received are recognised 81 the lime the charity becomes legally enlilled lo them. Any grants received that are restricted to future accounting periods are deferred and recognised in those future periods. Grants received for specific purposes are accounted for as restricted funds. Rental income is accounted for on 8n accruals basis. 18-
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Accouhtlng policies Icontlnuedl 1.6 Expenditure Liabilities are recognised as soon as there is a legal or constructive obligation commilling the charitable company lo that expenditure, il is piobable that selllemenl will be required and the amount ol the obligation can be measured reliably. All expenditure is accounted for on an ac¢rua15 basis. All expenses, including support costs and governance costs, are allated or apportioned lo the applicable expendiluie headings in the Slalemenl of Financial Aclivilies. Support and governance costs are applied lo unrestricted funds unless specifically included in the reslriclions, as specified by the donor. Expenditure on Charitable activities relate lo the operation of the charity comprising of direct charitable expenditure lo meet the objectives of the charitable company. Support and governance costs relate lo the management and operation ol the organisalion and also compliance with conslilutional and slalulory requirements in produung the annual report. These are dealt with in the Slalemenl of Financial Activities when payment has been approved by the charity. 1.7 Tangible fixed assets Tangible fixed assets are initially measured at ¢osl and subsequently measured at cost or valuation, nel of depreciation and any impairment losses. The investment property is in¢1uded as tangible fi'xed assets and is measured al cost as the fair value cannot be measured reliably wilhoul undue cost or effort. Depreciation is re¢ognised so as lo wrile off the cost or valuation of assets less their resldual values over their useful lives on tha followng bases.. Freehold land and buildings Building improvetnenls Office Equipment Motor vehicles 2% per annum on a slraighl lin& basis 29/0 or 200/0 per annuTll on a slraighl line basis 25. 33Q/o reducing balance or straight line 200A per annum on a sliaighl line basis Freehold land is not depreiialecl. The gain or loss arising on the disposal of an asset is delerrNined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.8 Fixed asset investments A subsidiary is an entity conlrollerj by the charity. Control is the power lo govern the financial and operating policies of the enlily so as lo obtain benefits from ils activities. Fixed asset investments are stated al ¢osl. 1.9 Impairment of flxed assets Al each reporting end dale, the charity reviews the carrying amoLJnls ol its tangible assets lo determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable atllounl of the asset is eslitllaled in order lo determine the exlenl tsf the Impairment loss lif any). 19-
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 A¢¢ountlng policies Icontlnuedl 1.10 stocks Stocks are staled al the lower ol cost and eslimaled s&lling price less costs lo complete and sell. Cost Comprises direct materials and, where applicable, direct labour costs and those overheads Ihal have been incurred in bringing the stocks lo their present location and condition. Items held lor distribution al no or nominal nsideratIon are measured the lower ol replacement cost and cost. Net realisable value is the eslimaled selling price less all eslimaled costs of completion and costs lo be incurred in mad(eting. selling and distribution. 1.11 Cash and cash equlvalents Cash and cash equlvalenls include cash in hand, deposits held al call with banks, other short-lerm liquid Investments with original malurilies of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.12 Flnanclal Instruments The Charity has elected lo apply the provisions of Section 11 '8asi¢ Financial Instruments, and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of its financial inslrumenls. Financial instruments are recognised in the charills balance sheet when the charity becomes party lo the conlraclual provisions of the inslrumenl. Financial assets and liabilities are offset, with the nel amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention lo settle on a nel basis or to realise the ass&1 and settle the liability simultaneously. Basic financial assets Basic finanaal assets, which include debtors and cash and bank balances, are initially measured al transaction pri including Iransaction costs and are subsequently carried al amortlsed cost using the effective interest method unless the arrangement conslilules a finanng Iransaction, wheie the transaction is measured al the present value of the future receipts disGounled al a market rate of interest. Financia1 assets classified as receivable within one year are not amortised. Baslc financial liabililies Basi¢ financial liabilities, induding uedilors and bank loans are initially reco9nised al transaction price unless the arrangement conslilules a finan¢ing Iransaclion, where the debt inslrumenl is measured at the present value ol the future payments discounted al a market rate ol interest. Finana21 liabilities classified as payable within one year ar& not amortised. Debt instruments are subgequenlly carried al amortlsed cost, usino the effective interest rale method. Trade creditors are Dbligalions lo pay for goocls or ServIS that have been acquired in the ordinary course of operalions from suppliers. Amounts payable are classilied a5 currenl liabilities if payment is due within one year or less. If not, they are pre5trnted as non-currenl liabilities. Trade creditors a recognised initially al transaction price and subsequently measured al amortised cost using the effe¢live interest method. Derecognition of financial Ilabllities Financial liabilities are derecognised when the charily's contractual obligations explre or are discharged or cancelled. -20-
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 Accounting policies Icontlnuedl 1.13 Employee benefits The cost of any unused holiday enlillemenl is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the Charity is demonstrably commilled lo lerminale the employment of an employee or lo provide lerminalion benefits. 1.14 Retirement benefits Payments lo defined contribution retirement benefit schemes are charged as an expense as they fall due. 1.15 Leases Rentals payable under opeFallng leases, including any lease in¢enlives recelved, are charged as an expense on a straight line basis over the term of the relevant lease. 1,16 Taxation The ¢harily benefits from various exemptions from laxalion afforded by lax leglslalion and is not liable lo corporation lax on income or gains falllng wthin those exemptions. The charity is not able lo recover Value Added Tax. Expenditure is recorded In the accounts inclusive of VAT. Crltlcal accounting estimates and judgements In the appli¢alion of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions aboul the ¢arrying amount ol assets and liabilities that are not readily apparent from other sources. The eslimales and associated assumptions are based on historical experience and other fa¢lors that are considered lo b& relevant. Actual results may differ from these eslimales. The estimates and undedying assumptions are reviewed on an ongoing basis. Revisions lo accounting eslimales are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. Critical judgements Accrued and Deferred income A provision is based on the liming of dIfferenS for income received and earned. If income has been received relating lo work performed in subsequent periods then amounlg M411 be deferred. For work done in the fin2nci81 period bul not invoiced unlil after the financial period, income will be accrued. 21
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Donations and legacies Unrestricted Unreslricled funds funds 2023 2022 Donations and gifts Grants recelvable Donated goods and seNices 12,225 22,864 521 37,328 60,594 72,819 60,713 Donated goods and servlces Donated services ar6 an estimate of the benefit of volunteer lime based on hours spent and notional salary, together wlh lime don8ted by the CEO, and in the prior year. donated services from an archilecl. Included in this balan in the prior year are also goods donated lo the charity. Charitable actlvities Chlldc8re and nursery education Adult educatlon Commui)Sty Sèrvices Core Totsl 2023 Total 2022 Restated 2023 2023 2023 2023 Charitable activities Services provided under conlracl performan related grants Other income 76,098 272,282 191 1,124 349,695 441,653 94,418 94,418 67.186 2,680 179,880 33,978 138,813 240 355,351 240 549.746 240 173,196 452,162 34,169 140,177 799.704 1.058,825 Analysis by fund Unreslricled funds Restricted funLIs 173,196 440,983 11,179 31.613 2.556 140,177 785,969 13,735 680,522 378,303 173,196 452,162 34.169 140,177 799,704 1,058.825 22-
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Charltable aclivltles (Continued) For the year ended 31 August 2022 Chlldeare and nursery eduGatlon Adult educatlon Community Servlces Core Total 2022 Charitable activities Services provided under ¢onlract Performance related grants Other income 32.735 67,186 447 407,868 433 617 441,653 67,186 549,746 240 425,644 35,736 87,91 240 100,368 833,512 36,169 88,776 1,058.825 Analysis by fund Unreslricled funds Resliicted funds 100,368 482,876 350,638 8,502 27,667 88,776 680,522 378,303 100,368 833,512 36,fj69 88,776 1,058.825 Other tradlng activities Restated Total Unrestricted Unrestrl¢tèd Restricted funds funds funds 2023 2022 2022 2022 Blstro Grant income Food income 21,514 38,378 25,511 31,032 3,000 28.511 31.032 Other trading activlties 59,892 56,543 3,000 59,543 Investments Restated Unrestricted Unrestricted funds funds 2023 2022 Rental income Interest receivable 19.005 1,026 17,250 25 20,031 fj7,275 -23-
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Grant income in relatlon to refurblshmeiit project The renovation of the grade 11 listed building is nearing completion and the grants have now been released from deferred income. Other Income Unrestricted Unrestricted funds funds 2023 2022 Insurance claim Liquidation and Ascertainad Damages claim 110,1401 161,546 57,130 110,1401 218,676 Ralslng funds Reslaled Total Unrestrlcted Unreslricled Restricted funds funds fLJnds 2023 2022 2022 2022 Bistro Bislro food. drink and other consumables Sl8ff costs Depreciation and impaimenl 53,200 10,992 335 34,457 12,025 493 34.457 15,025 4g3 3,000 64,527 48,975 3,000 49,975 -24-
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 10 Charitable activities Childcare and nursery education AdLrlt Communlty education Services Core Total 2023 Total 2022 2023 2023 2023 2023 Restated Staff Costs Depreciation and impairment Repairs and maintenance Consultancy costs Project costs Advertising Premises costs Office costs Travel and volunteer expenses Other costs 130,906 259,731 37,933 160.991 589,561 565.581 82 2,533 4,569 42.377 49,561 47.415 3,882 18,033 15,633 51,977 5,954 9,051 20,379 985 21,799 42,699 15,633 81,820 8,287 33,769 28,614 14.437 10.369 370.601 7,476 33.958 30,472 12,Q87 1,317 11,129 2.287 3,799 215 1,007 416 13.977 801 12,582 5,552 81 3,157 834 898 50 286 2,180 20,767 3,145 25,108 2,008 18.741 164,888 383,023 49,260 281.026 878,197 1,101,058 Share of governance costs {see note 11) 21.469 21,469 26.274 164,888 383,023 49,260 302,495 899,6e6 1,127,332 Analysls by fund Unresliicted funds Reslricled funds 162,332 2,556 371,369 11,654 49,260 297,207 5.288 880.168 19,498 785,233 342.099 164,888 383,023 49,260 302,495 899,666 1,127.332 -25-
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 10 Charitable activities IContlnL5edl For the year ended 31 August 2022 Chlldcare and nursery education Adult Community education Services Core Total 2022 Staff costs Depreciation and impaimient Repairs and maintenance Consullan¢y ¢osls Project cosls Advertising Premises $ts Office costs Travel and volunteer expenses Other costs 117,518 109 2,803 330,797 2.362 5,721 10,389 355,743 5,990 10,890 22,779 823 7,595 25,942 5,563 729 91,324 39,381 5,184 565,581 47,415 14,437 10,369 370,601 7.476 33,958 30,472 2,008 18,741 8,817 1,163 11,780 1,789 31 3,357 2,924 3.117 323 9,867 5,188 1,154 7,227 1,441 716 562 147,347 753,069 37,877 162,765 1,101,058 Share of governance costs Isee note 111 26,274 26,274 147,347 753,069 37,877 189.039 1,127.332 Analysls by fund Unrestricted funds Reslricled funds 147.347 443,924 309.145 18.552 19,325 175,410 13,629 785,233 342,099 147,347 753,069 37,877 189,039 1,127.332 11 Support cost5 Support Governance costs costs 2023 2022 Audit fees Accountancy Legal and professional 4,620 12,591 4.258 4.620 12,591 4.258 4,200 11,810 10,264 21.469 21,469 26,274 Analysed between Charitable activities 21,469 21,469 26,274 Support and governance costs are recharged in accordance with thari18ble aGlivily and usage. -26-
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 12 Audltor's remuneration Fees payable to the charity's auditor and associates: 2023 2022 Audit of the charity's annual accounts 4,620 4,200 Non-audlt servlces All other non-audil services 5,148 4,680 13 Trustees None of the Trustees lor any persons connected wth them) received any remuneration or bentsftts from the charity during the year12022.' £nill. 14 Employees Numbèr of èmployee5 The average monthly number of employees during the year was.. 2023 Number 2022 Number Employees 30 32 Employment costs 2023 2022 ges and salaries Social security costs Other pension costs Volunteer ¢ounselling and CSR 495,863 34.495 9,601 60,594 514,803 31,215 8,510 26,278 600,553 580,606 There were no employees whose annual remuneration was £60,000 or more. 16 Other Unrestrlcted Unreslricled funds funds 2023 2022 Nel loss on disposal of tangible fixed assets 4.744 4,744 27-
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 16 Tangible fixed assets Freèhold land Bulldlng and bulldlngs improvemfants Offlce Motor vehicle5 Equipment Total Cost Al 1 Seplemb&r 2022 Additions 170.654 2,670,330 127.708 51,500 2,132 31.440 2,923,924 129,840 Al 31 August 2023 170,654 2,798,038 53,832 31.440 3,053,764 Depreclatlon and impalrment Al 1 September 2022 Depreciation ¢harged in the year 45,781 2.400 494.365 35,584 37,842 5,624 25,069 6,288 602.857 49,896 Al 31 August 2023 48,181 529.949 43,266 31,357 652,753 Carrylt)g amount Al 31 August 2023 122,473 2.268,089 10,366 83 2,401,011 Al 31 August 2022 124,873 2,175,964 13,859 6,371 2,321.7 The carrying value of land Included in land and buildings comprises.. 2023 2022 Freehold 50.854 60.654 A Charge was issued on 12 October 2011 to the National Herflage Memorial Fund over 107 Great Mersey Street in accordanc¢ with the grant agreement dated 22 June 2011 bfreen Rotunda Limilèd and the National Heritage Memorial Fund. The charge 11 la8t for 25 years trom the agreement dale. The Iruslees Consider that the net book valu8 of tangible fixed assets is a true and lair representation of their value in us8 al the year end. Land and buildings and building improvements includes investment prop8rty. The Iruslees deem approximately 20Yo is investment property producing rental income. The asset is shown under tangible fixed assets only. The falr value of this component part of the property cannot be reliably measured wlhout undue Cost lo the ¢harily. 28-
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (GONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 17 Fixèd asset investments other investments Cost or valuation Al 1 September 2022 & 31 August 2023 Carrylng amount Al 31 August 2023 At 31 August 2022 2023 2022 Other investments cornprise.. Notes Investments in subsldiaries The company holds 100.10 issued shares in Rotunda Enterprises C.l.C. (formerly Rotunda Enterprises Limiledl, which was incorporaled as a trading subsidiary on 9 December 2004. 18 Stocks 2023 2022 Finished goods and goods for resale 941 19 Financial Instruments 2023 2022 Carrying amount of flnancial assets Debt instruments measured al amortised cost Equity instruments measLJred al cost less impairment 514,397 475,603 Carrylng amount of financial liablllties Measured al arllortised cost 179,851 254,137 29-
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 20 Debtors 2023 2022 Amounts falling due thIn one year.. Trade debtors Refurbishment project work in progress Amounts owed by subsidiary undertakings Other debtors Prepayments and accrued Income 24,004 8,400 10.281 1,003 80,688 38,200 413 182,396 124,374 221,009 21 Creditors.. amounts falling within one year 2023 2022 Notes Bank loans Other laxalion and social security Deferred income Trade creditors Other creditors Accruals 23 40,492 9,108 4.767 10,085 2,067 11.043 46,402 7.968 128,084 28,595 5,397 19,444 24 77,562 233,890 22 Credltors: amounts falllng due after more than one year 2023 2022 Notes Bank108ns 23 116,164 158,299 23 Loans and overdrafts 2023 2022 Loans lunsecurèdl 156,656 202,701 Payable within one year Payable after one year 40,492 116.164 46,402 156,299 Amounts included above which fall due after fSve years., Payable by inslalmenls 14.736 18.082 30-
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 24 Deferred income 2023 2022 Other deferred income 4,767 128.084 2023 2022 Total deferred income al fj September 2022 Amounts ieceived in year Amounts credited lo slalement ol financial aclivili8s 128,084 4,767 1128,084) 667.256 75.372 1614,5441 Total deferred income al 31 August 2023 4.767 128,084 The major component of the deferred incoma releaseLI over the two periods relates to the funding for the ongoing refurbishment work. 25 Retirement benefit schemes Defined contrlbution schemes The charity opera16s a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the chaTily in an independently administered fund. The charge lo profil or loss in respect of defined contribution schemes was £9,601 {2022- £8,510). 31
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 26 Restricted funds The income funds of the charity Include reslrlcted funds cornprising the following unexpended balances of donations and Movement in funds Balance at 1 Septeinber 2021 IncornÈ ExpÈndlturè Transfers Balance at 1 September 2022 107 Prolecl DWP Kickslart Gateway Mental health coordinator Refurbishment fund Steve Morgan Foundation 1,025,066 11,652 173,2191 {36,780) 951.847 16,364 350,637 30,667 1309,145) (30,6671 10,576 15,2881 5.288 1,047,294 381,304 1345,100) {109,9991 973,499 107 Project Funding was received from Heritage Lollery Fund for the refurbishment of 107 Greal Mersey Street. All refurbishment v and Enterprise Centre opened on 30 August 2013. The Heritage Lolleiy Fund hold a legal charge over 107 Great Mer.. 2011. The reslricled fund relating ID the 107 project will be released over the remaining period of the legal charge Ihrougl DWP Kickstart Gateway Rotunda became a DWP Kickslart Gateway organisalion in January 2021, working with 38 employers lo support ! employment positions. Transfers relate lo admin fees lor operating the sd)eme and training fees for apprentices taken 01 Mental health ¢oordlnator Fundirig was received from the Steve Morgan Foundation lo contribute lo ongoing salaries. Refurbishment fund Funding was reIVed from the Mayoral Fund and The Northern Impact Keyfund Investments for the refurt)ishment of the Steve Morgan Foundatlon In 2018, The Foundation donated £26,440 to the charity in the lomi of 2 minibus. 32-
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 27 Analysls of net assets between funds Unrestricted Restricted funds funds 2023 2023 Total UnTeslricted funds 2022 Reslrided funds 2022 Total 2023 2022 Fund balances 81 31 Augusl 2023 are represented by.. Tangible assets Investments Curr&nl assalsllliabililiesl Long term liabilities 1.522,383 878,628 2,401.011 fj.363,932 957,135 2,321,067 426,231 {116,1641 100,631 526,862 407.745 {116,164) 1156.2991 16,364 424,109 {156,2991 1,832,451 979,259 2.811,710 1,615,379 973,499 2,588.878 28 Operatlng 18ase commltments Al the reporting end dale the charity had oulslanding commf(menls for future minimum lease payments under nDn-cancellable operating leases. which fall due as follows.. 2023 2022 Within one year Belween and five years 9,884 20,748 9,864 51,036 30,612 60,900 29 Related party transactlons Remuneratlon of key management personnel The remuneration of key management personnel is as follows. 2023 2022 Aggregate remuneration 52,069 50,147 There were no other related party transactions in the year. 30 Company limiled by guarant&& Rotunda Limited is incorporalecl under the Companies Act as a company limited by guarantee. The liability ol the members is limited lo £1. -33.
ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 31 Cash generated from operatlons 2023 2022 Surplus for the year 222,832 822,670 Adjuslmenls for.. Investment incotlle recognised in slalemenl of financial aclivilies IGainlAoss on disposal of tangible li%ed assets Depre¢ialion and impairment of tangible fixed assets 120,0311 117,275) 4,744 47.908 49,896 Movements in working capital.. Ilncreasel in stocks Decreasellincreasel in debtors (Decreasellincrease in creditors (Decrease) in deferred income 1941) 96,635 127,1011 1123.3171 {62,374) 15.897 1539,1721 Cash generated from operations 197,973 272,398 32 Analysls of changes Irb net funds At 1 September 2022 Cash flows At 31 August 2023 Cash at bank and in hand 436,990 42,119 479,109 Loans falling due within one year Loans falling (Sue Éfter more than one year 146,4021 1158,2991 5,910 40,135 140.4921 1116,1641 234.289 88,164 322,453 -34-