Charity Registratlon No. 518951 Company Registratlon No. 02050597 {England and Wales) ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 rotunda ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE LEGAL AND ADMINISTRATIVE INFORMATION Trustees Philip Cashen (Chair) William Connolly Philip Corfield Victoria Cowley Paula Mccabe Richard Meegan Keith Housley Paul Musa Layla Davies Chloe Doyle (Appointed 9 September 2024) (Appointed 13 May 2024) Chief Executive Offlcer Maxine Ennis Secretary l Finance Manager Jayne Eccleston Charity number 518951 Company number 02050597 Principal address Rotunda College 109 Great Mersey Street Liverpool Merseyside L5 2PL Registered office Rotunda College 109 Great Mersey Slreet Liverpool Merseyside L5 2PL Auditor Mitchell Charlesworth (Audit) Limited Suites C, D, E & F 14th Floor, The Plaza 100 Old Hall Street Liverpool England L3 9QJ Bankers Lloyds Bank PIC 88-94 Church Street Liverpool Merseyside L1 3HD ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE CONTENTS Page Trustees, report Statement of truslees, responsibilities 10 Independent audilor's report Statement of financial activities 14-15 Balance sheet 16 Statement of cash flows 17 Notes to Ihe financial slatements 18-34 ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 AUGUST 2024 The Trustees present their report and financial statements for the year ended 31 August 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) {effective 1 January 2019)" Introduction As we reach the close of another transformative year at Rotunda Ltd, we reflect on our journey not only as an organisation but as a cornerstone of support within our community. With our ethos we have embraced Ihe challenges and opportunities presented over the past year, accelerating our growth and impact in ways we never imagined possible. This year has seen us shift our narrative, reassessing how we present ourselves to the wider community. Feedback from stakeholders has told us that our role is nol merely a charity, but as a pivotal player in Liverpool's social impact landscape. A striking comment made by a candidate during our recruitment process epitomised this shift in perception.. "I want to work for Rotunda because you're a big player in Liverpool's community sector, reaching people from all over the city with education and support.. We embarked on a comprehensive evaluation of our seNice delivery, engagement with local and city wide residents, and also with stakeholders from the public, private, and community sectors. This echoed our potential; they regard Rotunda as a strategic organisation that happens to operate within the charity sector. We are proud lo be seen as a proactive entity making substantial strides in improving social, economic, and educational outcomes for many. This past year has been particularly noteworthy-, not only did we achieve a turnover exceeding £900,000, but we also expanded our staff to 30 dedicated individuals. This reflects the essential work we are doing - investing heavily in community assets and preserving the rich built heritage of North Liverpool. The public sector now views us as a vital partner for consultation on strategic initiatives, highlighting our role in shaping not just the presenl, but also the future of community development in the Liverpool City Region. Consultations include the Health and Inequality consultation and the Transport Links consultation. Moreover, our programmes have diversified significantly. Initiatives in education and vocational training have expanded, directly addressing the evolving needs of our community. For instance, we launched a new Teaching Assistant Academy this year, empowering over 200 individuals from disadvantaged backgrounds to gain essential skills for employment in an amazing sector. Looking fo￿ard, we remain committed to our mission of fostering growth and deve5opment within our community. 11 is with hard work, dedication, and a spirit of collaboration that we will Gonlinue to make a meaningful impact, ensuring Ihal everyone within our reach has access to the support and resources they need to thrive. 202412025 holds much promise, and with the unwavering support of our community, stakeholders, and staff, we are excited to forge ahead, embracing new challenges and celebrating our successes. Together, we will keep working tirelessly to ensure that Rotunda Ltd remains not just a "Gharily" but a beacon of hope, inspiration, and tangible change for many. Public Benefit The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 AchTevements and performance As we reflecl on Ihe past year, Rotunda Ltd has continued to fulfil ils commitment to the Community, navigating an increasingly complex socio-economic landscape marked by ongoing changes in national government policy and the pressing impact of the cosl-of-living crisis. Despite the challenges posed, particularty regarding food insecurity in our region, we are proud to outline significant milestones and achievements from this year's activities. The Trustees of Rotunda Ltd extend heartfelt gratitude to our remarkable staff and volunteers. Their unwavering dedication, professionalism, and commitment to serving the community have played a pivolal role in our achievements this year. With resilience, compassion, and an unyielding passion for providing excellent services, our team has ensured that our learners and communiiy members find a supportive environment tailored to Iheir educational and personal growth. Our learners remain at the heart of our operations, and we are profoundly grateful for their trust in us. Through the challenges they face, they have exhibited exceptional determinalion and ambition, and we are honoured to support them in reaching their goals. We would also like to express our appreciation to our stakeholders and partners for their invaluaLle support over the past year. Special mention must go to those organisations whose financial assistance has been crucial in underpinning our work.. Merseytravel, Liverpool City Council, Power to Change, Reaching Communities, John Moores Foundation, Steve Morgan Foundation, Albert Gubay Foundation, Brabners LLP, VOLA, Onward Homes, Garfield Weston Foundation, Eleanor Rathbone Foundation, Locality, Hemby Trust, Tate Liverpool, P H Holt Foundation, Asda Foundation, National Lottery, Liverpool Council for Voluntary Services, Torus Foundation and Elizabeth & Eleanor Rathbone Foundation's. Their generosity has enabled us to maintain and expand our outreach and impact, benefilting a diverse array of individuals and families in our community. We extend our gratitude to the organisations that have generously shared their lime, knowledge, and expertise, enhancing our capabilities to achieve our charitable objectives. Our collaborations with organisations like Brabners LLP. Halsall Lloyd Partnership and Liverpool City Rotary exemplify the spirit of community and mutual growih that we aim to uphold. This year, Rotunda has made significant strides in our business developmenl plans. Our objectives remain ambitious as we consistently strive to deliver high-quality programmes that effectively cater to Ihe varied needs of our patrons. Thanks to diverse funding streams, we have successfully implemented a wide range of educational, training, and community engagement initiatives. Our ongoing collaboration with the Workers, Educational Association (WEA) under the Liverpool City Region Combined Authority - Adult Skills Budget {ASB) has been instrumental in our ability to offer high-quality education at Ihe grassroots level. Our nursery and preschool services have flourished this year, led by a dedicated group of professionals committed to providing high-quality early years education. Through a further year of no price increase for our subsidised childcare services, we have made strides in ensuring that all families have access to essential early education. Additionally, our fully-funded nursery places have significantly benefitted families engaged in our educational programmes, alleviating financial burdens and fostering educational attainment. Education The relentless dedication of the Educalion Team at Rotunda Ltd continues to translate in our commitment to high-quality educational delivery, predominantly aimed at reaching those individuals often referred to as 'hard to engage,. Our strength lies in our ability to create positive. empowering educational experiences for those who have missed opportunities in traditional educational setlings. We understand the importance of creating a nurturing environment that prioritises emotional and social well-being alongside academic achievements. Throughout the academic year 202312024, we proudly engaged with 564 individuals through the delivery of both 'private' and 'Adult Skills Budget, (ASB) courses. A closer examination of our demographic reveals the following: 28°/o of participants identified as being from 'any other background,, which highlights our Gommitment to inclusion beyond the traditional ethnic classifscations of British, Welsh, Scottish, or Northern Irish. ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 31 % of our learners reported having a disability or additional learning support needs. This figure not only surpasses the national average of 21 % but reflects OLtr tailored approach to cater to diverse learning experiences. A considerable 75 /0 of learners declared themselves unemployed, affirming the pressing need for accessible education that facilitales employment opportunities for individuals facing societal barriers. Our dedicalion to educational excellence has borne fruit - over the past year, we successfully delivered 410 qualifications, achieving a commendable 83 % pass rate. The credibility of OLtr educalional endeavours is further validated by the invaluable insighls from Rotunda's three Internal Quality Assurance IIQA) officers and our team of five fully qualified educators. Their unwavering commitment to fostering learner and employer partnerships ensures our programmes resonate with the specific regional demand. This year, we introduced several new qualifications, including the highly soughl-after Level 2 Supporting Teaching and Learning programme, which is synergistically paired with Entry 3 British Values and Level 2 Safeguarding and Prevent. This suite of qualifications emerged from rigorous consultations with Socal employers aiming to equip learners with fundamental skills for career advancement within educational support roles. We are delighted lo have attained Direct Claim status for each qualification delivered, signalling our compliance with national quality assurance standards. Our new flagship educational programme of Level 3 Diploma in Counselling Skills, situated within our new mental health suite of qualifications was delivered with 1000/0 learner success, a testament to the tearn and the learners involved in this. Feedback from our learners reflects our holistic approach at Rotunda. The Engagement Team's commitmenl to customer care creates an environment that not only puts learners al ease but also empowers them to navigate their educational pathways. Learners have praised our team as approachable, enthusiastic, and highly knowledgeable, offering guidance on both formal educational routes and alternative pathways, such as volunteering, confidence-building exercises, and informal educational opportunities. A significant aspect of this support includes advice on accessing ASB funding for additional assistance, which encompasses areas such as subsidised childcare, travel, and reduced-cost meals from our onsite café during learning hours. During this period, we have also garnered outstanding remarks from Commissioners at both the Workers, Educational Association (WEA) and VOLA, who conducted Observations of Teaching, Learning, and Assessmenl. Their positive evaluations have positioned our delivery methodologies as exemplars of good practi￿ within the sector, further solidifying Rotunda's reputation as a leader in community-based education. Moving into the future year, we are excited to announce the development of a new and exciting programme, Level 1 Award in Early Years Practitioner and L2 Certificate in Understanding Neurodiversity. These will form a core part of the delivery model for the forthcoming year. Early Years, at Rotunda As we reflect on the 202312024 year at Rotunda Nursery and Pr&school, il is heartening to report a continued commitment to excellence in early years, education for a diverse group of 64 children {43 in nursery and 21 in pre-school). Our dedicated team has fostered an environment that prioritises the holistic development of each child, ensuring they are at the core of all our planning and aclivities. We've built on our ethos of delivering innovative educalional experiences that not only engage but also challenge our learners, allowing them to flourish both academically and socially. A backbone of our approach this year has been the enhancement of our curriculum with the integration of outdoor learning. Our Adventure Fridays" have been particularly successful, where all children participate in arefully organised explorations - no matter the weather. These sessions not only promote physical activity bul also enhance critical thinking and problem-solving skills as children engage in activities such as den building, natural art projects, and wildlife exploration in the Rotunda Community Gardens. Encouraging children lo work Collaboratively in these settings has fostered a sense of community and personal responsibility, skills that will support them as they progress through their educational journey. ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 A reflective focus on enhancing language development has been central lo our Gurriculum, particularly given our diverse cohort, which includes a significant number of children who speak English as an Additional Language IEAL). Our investment in professional development has enabled staff to implement targeted language enrichment strategies tailored to our learners, needs. Through the ulilisalion of funding from Livery)ool City Council, we have introduced language-rich zones within our nursery environment, featuring storytelling areas, interactive displays, and multi-sensory resources. These zones encourage meaningful interactions among Ghildren, nurturing Iheir language skills in a supportive context. Weekly themed workshops, run by our skilled practitioners, offer children slructured opportunities to expand their vocabulary and foster a love for storytelling. Our team at Rotunda Nursery and Pre-school comprises professionals who have demonstrated their commitment through various roles designed to elevate our educational offering. We have appointed "champions, across several domains: the Language Development Champion guides staff in EAL best practices,. our Physical Health and Nutrition Co-ordinator ensures that all meals and snacks are nutritionally balanced,. the Special Educalional Needs and Disabilities Co-ordinator {SENDCol tailors support for children with additional needs., and our Parent Partnership Champion facilitates strong connections with families, ensuring that they remain an integral part of our nursery community. Furthermore, our Emotional Health and Welkbeing Champion promoles a we51-rounded approach to mental health, enabling children to express their emotions effectively and build resilience. In addition to these roles, extensive training has enabled our staff to bring back innovative teaching strategies that directly benefit our children. Our regular team meetings focus on sharing best praclices, reflecting on our experiences, and fostering a growth mind set among staff, which we believe has resulted in an enriched learning environment. The results are evident in the increasing levels of engagement and enthusiasm shown by the children. This year, we expanded our commitment lo inclusivity and enrichment by providing subsidised places to families in need, alongside fulfilling the government's funded positions. Our nursery's ethos embraces every child, and we strive to ensure that financial barriers do not inhibit access to high-quality early years education. Additionally, we launched community oulreach efforts, allowing us lo strengthen our relationships with local organisations and increase awareness of the importance of early childhood education. Rotunda Nursery and Pre-school celebrates cultural diversity, with over half our children speaking various languages, including Vietnamese, French, Arabic, and many more. This year, we have enhanced our cultural curriculurn by incorporating diverse festivals, food tasting, and storytelling sessions that reflect the Iradilions and backgrounds of our families. These activities not only foster pride in individual heritage bul also cultivate respect and understanding for different cultures among our children. At present, our nursery provision is organised into two age-group settings, with a clear vision for future expansion. Plans are undemay to develop a purpose-built facility Ihat will allow increased occupancy and the integration of age groups. This new setting will include dedicated spaces for younger Children, which is currently a gap in our provision, and will enhance Iheir access to outdoor play. Additionally, it will provide a continuous provision model to support the various sensory needs of our children throughout the day. Childcare sufficiency reports indicate a growing demand for nursery places in our community. With the government's recent childcare expansion programme, which offers funded hours for children from the age of nine monlhs, the need for addilional placements has never been Clearer. Our future development plans reflect this demand, aiming to provide a cohesive early years setting that caters to the needs of children from infancy to preschool. We currently face limitations in the number of spaces available, particularly in our Pre-school, where we are confined to eleven places under the current settings. However, by addressing these constraints through our proposed expansions, we hope to accommodate more families and fulfil our mission of making quality education accessible to all. 11 is pleasing lo report that our focus remains steadfast on prioritising oulstanding educational practices that serve the diverse needs of our children and families. Rotunda Nursery and Pre-school is committed to evolving our practices and facilities to ensure every child has a strong foundation from which to build their future learning journeys. ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Rotunda Café The Rotunda community café has continued to thrive and evolve throughout the 202312024 period, reaffirming its role as a vital hub for connection, support, and nourishment. This year, the café has not only remayied a gathering place for local residents, learners, and businesses but has also expanded its service offerings to meet the growing needs of our community. Recognising the challenges posed by ongoing economic fluctuations, the café has intensified its efforts to address food insecurity. We have enhanced our partnerships with local food banks and charitable organisations, ensuring that no child or adult in our community faces the hardship of hunger. Our dedicated team has worked tirelessly to prepare and deliver nulrilious meals, particularly benefitting the children of Rotunda Nursery and Pre- School, by providing freshly cooked, balanced meals five days a week. We aim lo alleviate the pressure on parents and contribute positively to the children's well-being, thereby fostering a supportive environment for their growth. In addition to supporting early years, education, the café dedicates significant resources to learners enrolled in our various educational courses. Understanding the importance of a nourishing meal in maintaining focus and energy levels, we provide complimentary hot meals during both morning and evening classes. This initiative is particularly crucial for adult learners who may be balancing studies with work and family commitments. Feedback solicited from participants consistently highlights the positive impact of this provision on their academic performance and overall morale. The café has also solidified ils role as a venue for community engagernent through various groups and activities. It houses our cherished Knit Wits, where participants share skills and stories while crafting beautrful handmade items. The Kirkdale Kickers bingo group has seen substantial growth, fostering a spirit of friendly competition and camaraderie among attendees. Meanwhile, our Memories Café conlinues to provide a compassionate space for individuals living with dementia and their caregivers. These sessions nol only stimulate delightful reminiscences bul also create a supportive network for those navigating the Challenges of memory loss. Furthermore, the café has been instrumental in hosting special events aimed at enhancing community bonds. For instance, the 'Ladies That Lunch" monthly gatherings have become increasingly popular, offering local women an opportunity to connect, share experiences, and enjoy a lovely meal together. Each event showcases seasonal menus prepared from locally sourced ingredients, highlighting our commitment lo sustainabilily and supporting local businesses. Rotunda Communlty Wellbeing Gardens As we reflect on another'flourishing, year at the Rotunda Community Gardens, we are immensely grateful for our dedicated community, sponsors, and patrons who continue to breathe life into this exemplary space. Thanks lo the generous support from Brabners Solicitors as our new corporate sponsors, we have expanded our garden initiatives, leading to a new and exciting growing and cooking space in our Kitchen Garden area. We have actively engaged with Forest School this year and created Camping in the City, hosting educational workshops that centre around the importance of biodiversity and the role trees and plants play in our environment. Through immersive outdoor experiences, children and young people have developed confidence, emotional resilience, and practical skills, all while forming connections with their peers and the natural world. The positive feedback emphasises how these sessions contribute significanlly to their holistic development, reinforcing our commitment to nurturing not just academic excellence, but also personal growth. Our 'Plol to Pol, programme has been particularly well received. Community members have had the opportunity to cultivate their own vegetables and herbs, showing great enthusiasm towards sustainable practices. Mindfulness and meditation sessions have also played a pivotal role in our community this year, with Tune in Tuesdays being a notable session. With the increasing pace of modern life, we believe that offering spaces dedicated to reflection and tranquillity is more important than ever. Our beautiful gardens provide the perfect backdrop for these sessions, enabling participants to disconnect from daily stresses and reconnect with themselves. The resurgence in attendance highlights the pressing need for mental well-being initiatives, and we are proud to offer a serene environment for people to escape and recharge. ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 School holiday programmes have included a rnyriad of activities designed to inspire creativity and foster outdoor learning. Vvhether crafting, cooking, or engaging in structured games, young participants have formed bonds that exlend beyond the confines of the garden. We would like to thank Merseyside Play Action Council (MPAC) and Half-term Activity Fund {HAF) for Ihe funding to deliver these activilies. Looking lo the future, we are excited lo introduce several new initiatives that promise to deepen our impact within the community. In response lo the growing need for male mental health support, we are launching a dedicated men's mental health projecl, referred to as 'Men's Sheds, aimed at providing a welcoming space where gentlemen can come together, share their stories, and engage in constructive activities. This initiative represents a significant slep towards addressing mental health challenges faced by men, allowing Ihem to seek support in a positive environment. Our community gardening programmes will continue lo flourish, encouraging local residents lo engage with one another, share their expertise, and learn from one another's experiences. By creating a culture of cooperation and collective growth, we envision a future where our gardens serve as a sanctuary for all to enjoy, share, and thrive. Enabling Services The past year has wilnessed Rotunda Ltd not only solidifying its position as a community pillar bul also expanding its enabling seNices to facilitate holistic support for individuals across varied demographics. Quality engagement and targeted interventions have been at the forefront of our programming, fostering a transformative environment for both women and young people in the community. The Women's Hub has continued to thrive, serving as a fundamental resource for women in need of support. Throughout the 202312024 period, we engaged with over 100 women, offering personalised coaching tailored to individual aspirations. This year, 35,10 of our participants successfully transitioned into slable employment, an increase from the previous year. Notably, 90 % of the women also pursued qualifications, leveraging the various educational opportunilies offered, resulting in significant personal and professional growth. Beyond employability and education, we proudly report that every participant experienced meaningful social justice outcomes, ranging from enhanced self-esteem to improved community engagement. In parallel with our Women's Hub, the Homework Hub programme has flourished, creating an inclusive space for primary and secondary school students. Sessions held twice weekly have attracted over 60 children, where our dedicated team of educators provides tuition in essential subjects including science, mathematics, English, and IT. By combining academic support with nutritious meals, we ensure that they are nourished physically and mentally. Furthermore, the Homework Hub has served as an invaluable platform for Trainee Teaching Assistants, enabling them to fulfil obseNational requirements for their qualificalions under the mentorship of experienced educators from Rotunda. The Welfare Hub remains an essential offering within our portfolio, sustained Ihrough our partnership with Raise Advice. This setwice provides crucial debt and housing advice to community members. Over the past year, we have conducted sessions in the Rotunda Café, allowing individuals to access support in a welcoming environment. Awareness of this service has expanded significantly, thanks to targeted social media campaigns, ensuring Ihal Ihose in need are equipped with vital information and resources. Looking ahead to Ihe 202412025 period, we remain committed to diversifying our programmes in response to community needs, focusing on innovative strategies that empower individuals. The integrated approach will continue to foster connections, ensure continued growth, and enhance the wellbeing of all partlGipants within the Rotunda community. Community Engagement From September 2023 to August 2024, Rotunda Ltd. has continued to adapt and respond to the needs of our local community with unwavering commitment. This year, we were fortunate to receive funding from various funding bodies, including MPAC and HAF. These funds have facilitated not only activities for our children but also vital access to nutritious hot meals during the school holidays. Over this reporting period, we provided 1,680 hol meals along with supplementary snacks and sandwiches for families. ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Recognising the additional financial pressures that holidays can impose, we expanded our food shed support to include seasonal produce from the gardens, allowing families to enjoy wholesome meals together. During the festive season of December 2023, we were graced with the generosity of Cash for Kids, provided 300 gifts and toys aimed at children and young people between the ages of 0-16 years. We took immense joy in distributing these presents during Christmas week, along with 150 selection boxes. Our commitment ensured that every child and young person linked to Rotunda awoke lo al least one cherished gift and a selection box on Christmas morning, fostering a sense of joy and community spirit during this special time of year. In alignment with our ongoing mission to alleviate food insecurity, our Right Fed Shed continues to Ihrive thanks to the unwavering support of local businesses, including Aldi, Salop Street, and Sainsbury's al Great Homer street. This provides daily food top-ups, serving approximately 200 individuals and families each day with essential items. The accessibility of this service has been critical in addressing the immediate needs of families, allowing them to focus on other essential aspects of life. Financial review The results for the year and the charity's financial position at the end of the year are shown in Ihe attached financial statements. Total income in Ihe year was £974,628 {2023'. £952,446) before accounting for the release of deferred income in relation to the refurbishment project of £nil (2023.. £244,719) (see note 7) and Ihe insurance claims totalling £29,900 {2023.'1£10,140)) (see note 8). Expenditure was £965,748 (2023.. £964,193). The surplus for the year is £38,780 (2023: £222,832). As al 31 August 2024, the charity had reserves of £2,850,49012023'. £2,811 ,7101. Included wilhin these reserves are £882,676 (2023.. £979,259) of restricted funds (see note 26) and £29,90012023.' £nil) of designated funds (see note 25). Included within unrestricted funds are fixed assets tolalling £1,858,659 (2023.. £1,522,383), the balance of the fixed assets are included within the restricted funds. These funds can only be reali*d upon sale of these assets. The charity had free reserves of £79,254 as at 31 August 2024 {2023: £310,067). Reserves policy The charity aims lo hold free unrestricted funds to a level equivalent of three months, total expenditure. The trustees consider that reserves at this level will provide financial stability whilst additional funding is sought. Reserves at the year end were equivalent to one month's expenditure and so has currently fallen short of Ihe ideal reserves. Risk policy The Trustees have examined the major strategic, business and operational risks which the charitable company may face and believe that all major risks have been identified. The Trustees have adopted a formal tlsk Assessment procedure and have established systems to ensure that the necessary steps can be laken to mitigate these risks. Future Plans As we embark on the 202412025 year, we find ourselves not just looking back upon the foundations laid in the previous year bul eagerly setting our sights on transformative developments ahead. The enthusiasm and dedication within Rotunda are palpable, bolstered by the firm ground established in the preceding year. With a clear vision and renewed commitment, we aim to ensure our plans are not merely aspirations but actionable strategies that will contribute to the enhanced sustainability and success of both Rotunda and our wider community. One of our primary strategic objectives is the advancement of Rotunda's Communily-Led Housing programme. Recognising the pressing need for affordable housing within our local area, we are determined lo spearhead efforts that will make a tangible difference in our community. Collaborating closely with Liverpool City Council, the Liverpool City Region Combined Authority, Halsall Lloyd Partnership, and Sovini Group, we will work towards developing a comprehensive business plan and financial modelling to support the establishment of a viable housing scheme. Our vision is to create not just structures, but nurturing environments where individuals and families Can flourish. ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 A pivotal element of our future plans involves the renovation of 117 Great Mersey Street. This property, long a source of concern due to its deteriorating condition, has passed through numerous private landlords without improvement, resulting in a derelict state that detracts from the vibrancy of our community. We envision transforming it into a supported housing facility specifically for women. This initiative underlines our unwavering commitment to addressing local housing needs while uplifling those who are most vulnerable. Our aspiration to become a Registered Provider Via Rotunda Community Land Trust will be a major step forward for this work. In tandem with our housing iniliatives, the development of a purpose-buill nursery slands out as another crucial strategic priority for the forthcoming year. Our aim is to design, fund, and realise a nursery facility that meets the various needs of families in North Liverpool. Recognising the existing gap in accessible early years education within the region, our team is focused on moving swiftly to bring this project to fruition. Continuing our commitment to education, we will place significant emphasis on diversifying the educational opportunities available within our adult education programmes. Our objective is to respond effectively to the evolving needs of both employers and learners in our communities. Throughout these initiatives, our core philosophy remains steadfast: to place our community at the heart of everything we do. We are committed to establishing strong feedback loops that allow us to listen and respond to the needs of our constituents effectively. In conclusion, the forthcoming year encapsulates a bold vision for Rotunda, one that stands resolutely on the foundations laid in the previous period. We are excited, energised, and entirely devoted to realising our plans for housing, early years, education and educational diversification. Togelher, with the communities we serve, we will strive to creale a legacy of sustainable success and innovation - building a brighter future for everyone involved. Structure, governance and management The charity is a company limited by guarantee, incorporaled on 28 August 1986 and registered as a charity on 17 July 1987. The charity was established under a Memorandum ofAssociation which established the objects and powers of the company and is governed under its Articles ofAssociation. The Trustees, who are also the Direclors for the purpose of company law, and who served during Ihe year and up to the date of signature of the financial statements were.. Philip Cashen (Chair) William Connolly Philip Corfield Victoria Cowley Annette Johnson Paula Mccabe Richard Meegan Keith Housley Howard Fleming Paul Musa Layla Davies Chloe Doyle {Resigned 18 September 2023) (Resigned 18 September 20231 (Appoinled 9 September 2024) (Appointed 13 May 2024) Rotunda has a Trustee Board which currently consists of10 people from various social and professional backgrounds and it meets bi-monthly. The role of Ihe Trustee Board is to ensure strong organisational governance across the breadth of Rotunda's activities. It does so by providing an appropriate balance of guidance, support and challenge to the Management Team to develop Rotunda's strategy,. to oversee the day-to-day operational activities- to evaluate new opportunities,. lo manage the various risks that may arise,. and to foster a culture of excellence in all that Rotunda does. It is important lo ensure that the membership of the Truslee Board has a good blend of knowledge, skills and experience to conlinue to provide, and grow, the services offered by Rotunda to its community in a sustainable way. Two new Trustee Board members have recently been recruited to enhance that blend with expertise in different areas which will help lo contribute to Ihe continued success of Rotunda. ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 A Chief Executive is appointed by the Trustees to manage the day-to-day operations of the charity. A Remuneration Committee will determine the salary of members of the Executive Team. Auditor In accordance with the company's articles, a resolution proposing that Mitchell Charlesworth {Audit) Limited be reappointed as auditor of the company will be put al a General Meeting. Disclosure of information to auditor Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, bul of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and lo establish that the auditor is aware of such information. Small company provisions This report has been prepared in accordance with the special provisions relaling to small companies within Part 15 of the Companies Act 2006. On behalf of the board ofTrustees Philip Cashen (Chalr) Trustee Dated.. ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2024 The Trustees, who are also the directors of Rotunda Ltd. for the purpose of company law, are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi￿). Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistenlly. observe the methods and principles in the Charilies SORP., make judgemenls and estimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subject to any malerial departures disclosed and explained in the financial statements., and prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the charity will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statemen ts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and deteclion 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 audited the financial statements of Rotunda Ltd. {the 'charity') for the year ended 31 August 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and noles lo the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financi81 Reporting Standard applicable in the UK and Republic of Ireland {United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial stalemenls.. give a true and fair view of the stale of the charitable company's affairs as at 31 August 2024 and of its incoming resources and application of resources, including ils income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting practi￿., and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinlon We conducled our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audil ol Ihe financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to golng concern In auditing the financial statements, we have concluded that the trustees, use of the going concem basis of accounting in Ihe preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material un￿rtaintieS relating to events or conditions that, individually or collectively, may cast significant doLsbt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and Ihe responsibilities of the TrLSStees with respect to going concern are described in the relevant sections of this report. Other informatlon The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within Ihe annual report. Our opinion on the financial statements does not cover the other information and, except lo the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is lo read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be rnaterially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required lo determine whether this gives rise to a material misstalement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required lo report that fact. We have nothing to report in this regard. Oplnlons on other matters prescrlbed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit= the information given in the trustees, report for the financial year for which the financial statements are prepared, which includes the directors, report prepared for the purposes of company law, is consistent with the financial statements; and Ihe directors, report included within the trustees, report has been prepared in accordance with applicable legal requirements. 11 ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE MEMBERS OF ROTUNDA LTD. Matters on which we are requlred to report by exception In the light of the knowledge and underslanding of the charity and its environment obtained in the course of the audit, we have not idenlified material misstatements in Ihe directors, report included within the trustees, report. We have nothing lo report in respect of the following malters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us-, or the financial statements are not in agreemenl with the accounting records and relurns., or certain disclosures of trustees, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit., or the Truslees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the trustees, report and from the requirement to prepare a strategic report. Responsibilities of Trustees As explained more fully in the statement of trustees, responsibilities, the Trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of Ihe financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend lo liquidate the charitable company or to cease operalions, or have no realistic alternative but lo do so. Audltorfs responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatemenl when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularilies, including fraud, is detailed below. The extent to which the audit was considered capable of detecting irregularities, Including fraud Our approach to identifying and assessing the risks of material misstatement in respecl of irregularilies, including fraud and non-compliance with laws and regulations, was as follows.. the engagement partner ensured that the engagement team collectively had the appropriate competen￿, capabilities and skills lo identify or recognise non-compliance with applicable laws and regulations., we identified the laws and regulations applicable to the company through discussions with directors and other management., we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anli-bribery, employment and health and safely legislalion., we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence., and identified laws and regulalions were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. 12- ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF ROTUNDA LTD. We assessed the susceplibility of the company's financial statements to material misslatement, including obtaining an understanding of how fraud might occur, by-. making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of aclual, suspected and alleged fraud,. and considering the intemal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we.. performed analytical procedures to identify any unusual or unexpected relationships- tested journal entries to identify unusual transactions., assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias., and investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-complian￿ wilh laws and regulations, we designed procedures which included, but were not limited to: agreeing financial slatement disclosures to underlying supporting documentation., reading the minutes of meetings of those charged wilh governance., and • enquiring of managemenl as to actual and potential litigation and claims. There are inherent limitalions in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is thal we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to delecl than those 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 at.. hltps.ll www.frG.org.uklauditorsresponsibilities. This description forms part of our auditor's report. Use of our report This report is made solely to the charitable Gompany's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitalje company's members those matters we are required to state lo them in an auditor's report and for no other purpose. To the fullest axtent permitted by law, we do not accept or assume responsibilily to anyone other than the charitable company and the charitable company's members as a body, for our audil work, for this report, or for the opinions we have formed. Anita Mason BAIHons) BFP FCA {Senior Statutory Auditor) for and on behalf of Mitchell Charlesworth (Audit) Limited 31 May 2025 Accountants Statutory Auditor Suites C, D, E & F 141h Floor, The Plaza 100 Old Hall Street Liverpool England L3 9QJ 13- ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024 Current f inanGlal year Unrèstricted Unrestricted Restricted funds funds funds general 2024 Total Total 2024 2024 2024 2023 Notes sfro Donations and legacies Charitable activities Other trading activities Investments Grant income in relation to refurbishment proje¢l Other income 66,118 796,015 78,990 33.505 66,118 796,015 78,990 33,505 72,819 799,704 59.892 20,031 244,719 {10,140) 29,900 29,900 Total income 974,628 29,900 1,004,528 1,187,025 enditure o Raising funds 76,188 76,188 64,527 Charilable activities 10 866.101 23,364 889,465 899.666 other 15 95 95 Total expenditure 942,384 23,364 965,748 964,193 Net incomel{expenditurel before transfers 32,244 29,900 {23,364) 38,780 222,832 Gross transfers between funds 27 73,219 173,219) Net Incomel(expenditurel for the yearl Net movement in funds 105,463 29,900 {96,583) 38,780 222,832 Fund balances at 1 September 2023 1,832,451 979,259 2,811,710 2,588,878 Fund balances at 31 August 2024 1,937,914 29,900 882,676 2,850,490 2,811,710 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities The statement of financial activities also complies 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 2024 Prior financial year Unrestricted Restricted funds funds 2023 2023 Total 2023 Notes ean endowments fro Donations and legacies Charitable activities Other trading activities Investmenls Grant incorne in relation to refurbishment project Other income 72,819 785,969 59,892 20,031 159,977 (10,140) 72,819 799,704 59,892 20,031 244,719 (10,140) 13,735 84,742 Total income 1,088,548 98,477 1,187,025 Raising funds 64,527 64,527 Charitable activities 10 880,168 19,498 899,666 Total expendlture 944,695 19,498 964,193 Net incomel{expenditure) before transfers 143,853 78,979 222,832 Gross transfers be￿een funds 27 73,219 <73,219) Net incomel{expenditurel for the yearl Net movement in funds 217,072 5,760 222.832 Fund balances at 1 September 2022 1,615,379 973,499 2,588,878 Fund balances at 31 August 2023 1,832,451 979,259 2,811,710 15- ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE BALANCE SHEET AS AT31 AUGUST2024 2024 2023 Notes Fixed assets Tangible assets Investments 16 17 2,664,068 2,401,011 2,664,069 2,401,012 Current assets stocks Debtors Cash at bank and in hand 18 20 440 182,146 452,837 941 124,374 479,109 635,423 604,424 Credltors.. amounts falling due withln one year 21 (182,939) {77,562) Net current assets 452,484 526,862 Total assets less Current liabilities 3,116,553 2,927,874 Credltors: amounts falling due after more than one year 22 (266,063) (116,164) Net assets 2,850,490 2,811,710 The funds of the charity Restricted income funds Unrestricted funds - general Unrestricted funds - Designated fund 27 882,676 1,937,914 29,900 979,259 1,832,451 26 2,850,490 2,811,710 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The fin als ments were approved by ihe Trustees on . Philip Cashen {Chair) Trustee Company registralion number 02050597 (England and Wales) 16- ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations 32 106,414 197,973 Investing activlties Purchase of tangible fixed assets Investment income received (326,181) 33,505 (129,8401 20,031 Net cash used In investing activities (292,676) (109,809) Financing activltles Proceeds from new bank loans Repayment of bank loans 200,000 {40,010) (46,045) Net cash generated froml{used In) flnancing activities 159,990 {46,0451 Net {decreaselllncrease in cash and cash equlvalents (26,2721 42,119 Cash and cash equivalents al beginning of year 479,109 436,990 Cash and cash equivalents at end of year 452,837 479,109 17- ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting pollcles Charity informatlon Rotunda Ltd. is a private company limited by guarantee incorporated in England and Wales. The registered office is Rotunda College, 109 Greal Mersey Street, Liverpool, Merseyside, L5 2PL. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 2019)" The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monelary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are sel out below. 1.2 Going concern At the lime of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricled general funds Ihese are funds which can be used in accordance with the charitable objects at the discretion of the Irustees. Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 1.4 Income All donations received are recognised at the lime of receipt. Unless specifically designated, all income received from donations will be treated as unrestricted funds for the Charity to do with as they see fit. Goods and seNices provided free of charge to the Charity are recognised as other income using the trustees, estimate of the amounts the Charity would have lo pay in the open market for their equivalents. Grants received are recognised at the time the charity becomes legally enlitled to 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 an accruals basis. Cash donations are recognised on receipi. other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donalions received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amounl is not known, the legacy is treated as a contingent asset. 18- ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policles {Continued) 1.5 Expenditure Liabilities are recognised as soon as there is a legal or constructive obligation committing the charitable company to that expenditure, it is probable that settlement will be required and the amounl of the d)ligalion can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance costs, are allocated or apportioned lo the applicable expenditure headings in the Statement of Financial Activities. Support and governance Gosls are applied to unrestricted funds unless specifically included in the restrictions, as specified by the donor. Expenditure on charitable activities relate to the operation of the charity cornprising of direct charitable expenditure to meet the objectives of the charitable company. Support and governance costs relate lo the management and operation of the organisation and also compliance with constilulional and statutory requirements in producing the annual report. These are dealt with in Ihe Statement of Financial Activities when payment has been approved by the charity. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. The investment property is included as tangible fixed assets and is measured at cost as the fair value cannot be measured reliably withoul undue cost or effort. Depreciation is recognised so as to write off the cost or valuation of assets less Iheir residual values over their useful lives on the following bases: Freehold land and buildings Building improvements Office Equipment Motor vehicles 20/0 per annum on a straight line basis 20/0 or 20°/o per annum on a straight line basis 25 . 33010 reducing balance or straight line 200/0 per annum on a straight line basis Freehold land is not depreciated. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statemenl of financial activities. 1.7 Fixed asset investments A subsidiary is an entity controlled by the charily. Control is the power to govern the financial and operating policies of the entity so as lo obtain benefits from its activities. Fixed asset investments are stated at cost. 1.8 Impalrment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is eslimaled in order to determine the extenl of the impairment loss (if any). 1.9 Stocks Stocks are staled at the lower of cost and estimated selling pri￿ less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for dislribulion at no or nominal consideration are measured the lower of replacement cost and cost. 19- ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies {Continuedl Net realisable value is the estimated selling price less all estimated costs of completion and costs lo be incurred in marketing, selling and distribution. 1.10 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investmenls with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.11 Financial Instruments The charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial inslrumenls are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the inslrument. Financial assels and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off Ihe recognised amounls and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured al the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured al amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.12 Employee benefits The cost of any unused holiday entitlement 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 committed to terminate the employment of an employee or to provide termination benefits. 1.13 Retlrement benefits Payments to defined Gontribution retirement benefit schemes are charged as an expense as they fall due. -2Q- ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies (Continued) 1.14 Leases Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over Ihe term of the relevant lease. 1.15 Taxation The charily benefits from various exemptions from taxation afforded by lax legislation and is not liable lo corporation tax on income or gains falling within those exemptions. The charity is not able to recover Value Added Tax. Expenditure is recorded in the accounts inclusive ofVAT. Critical accounting estlmates and judgements In the application of the charity's accounting policies, the Trustees are required lo make judgements, estimates and assumptions about the Carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these estimates. The estimates and underlying assumpiions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which the estimate is revised where the revision affects only Ihat 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 timing of differences for income received and earned. If income has been received relating lo work performed in subsequent periods then amounts will be deferred. For work done in the financial period but not invoiced until after the financial period, income will be accrued. Income from donations and legacies Unrestricted funds 2024 Unrèstricted funds 2023 Donations and gifts Donated goods and seNices 3,070 63,048 12,225 60,594 66,118 72,819 Donated goods and services Donated seNices are an estimate of the benefit of volunteer lime based on hours spent and nolional salary, together with time donated by the CEO. Included in Ihe balance in the current year are also goods donated lo the charity. 21 ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Income from Charltable activities Childcare and nursery education 2024 Adult Community education Services Core Total Total 2024 2024 2024 2024 2023 Sale of goods Services provided under contract Performance related grants Other income 84,037 286,897 1,209 10,736 382,879 349,695 136,805 136,805 94,418 133,293 64,881 15,000 62,597 560 260,771 15,560 355,351 240 220,842 420,190 81,090 73,893 796,015 799,704 Analysis by fund Unrestricted funds - general Restricted funds 220,842 420,190 81,090 73,893 796,015 785,969 13,735 220,842 420,190 81,090 73,893 796,015 799,704 Previous year: Childcare Adult Communlty and nursery education Services education 2023 Core Total 2023 2023 2023 2023 Sale of goods Services provided under conlracl Performance related grants Other income 76,098 94,418 2,680 272,282 191 1,124 349,695 94,418 355,351 240 179,880 33,978 138,813 240 173,196 452,162 34,169 140,177 799,704 Analysis by fund Unrestricted funds - general Restricted funds 173,196 440,983 11,179 31,613 2,556 140,177 785,969 13,735 173,196 452,162 34.169 140,177 799,704 -22- ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Income from other trading activities Unrestricted Unrestricted funds funds 2024 2023 Blstro Grant income Food income 45,330 33,660 21,514 38,378 other trading activities 78,990 59,892 Income from investments Unrestricted Unrestricted funds funds 2024 2023 Rental income Interest receivable 30,249 3,256 19.005 1,026 33,505 20,031 Grant income in relation to refurblshment project The renovation of the grade11 lisled building has been completed and the grants were released from deferred income in 2023. Other Income Unrestricted Unrestricted funds funds general Designated fund 2024 Total Unrestricted Unrestricted funds funds general Designated fund 2023 Total 2024 2024 2023 2023 Insurance claim 29,900 29,900 {10,140) (10,140) -23- ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Expenditure on raising funds Unrestricted Unrestricted funds funds 2024 2023 Bistro Bistro food, drink and other consumables Staff costs Depreciation and impairment 35,244 40,824 120 53,200 10,992 335 76,188 64,527 10 Expenditure on charitable activlties Childcare and nursery education 2024 Adult Community education Servlces Core Total 2024 2024 2024 2024 Direct costs Staff costs Depreciation and impairment Repairs and maintenance Consultancy costs Project costs Advertising Premises costs offi￿ costs Travel and volunteer expenses other costs 136,494 61 2,050 193.485 842 34,684 1,799 4,017 214,049 60,208 19,702 2,421 4,171 4,966 29,771 13,370 993 29,703 578,712 62,910 25,769 19,212 44,463 9,557 40,600 32,042 1,656 34,068 16,791 28,124 2,985 7,738 985 9,690 1,964 62 1,477 4,430 621 1,139 205 90 377 16,503 511 2,511 160,521 261,752 47,362 379,354 848,989 Share of support and governance costs {see note 11) Governance 40,476 40,476 160,521 261,752 47,362 419,830 889,465 Analysis by fund Unrestricted funds - general Restricted funds 160,521 245,863 15,889 47,362 412,355 7,475 866,101 23,364 160,521 261,752 47,362 419,830 889,465 -24- ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 10 Expenditure on charitable activities {Continuedl Previous year: Childcare and nursery educatlon 2023 Adult Community educatlon Services Core Total 2023 2023 2023 2023 Direct costs 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 82 3,882 259,731 2,533 16,033 15,633 51,977 5,954 9,051 20,379 834 898 37,933 4,569 985 160,991 42,377 21,799 589,561 49,561 42,699 15,633 81,820 8,287 33,769 28,614 3,145 25,108 12,067 1,317 11,129 2,267 81 3,157 3,799 215 1,007 416 50 286 13,977 801 12,582 5,552 2,180 20,767 164,888 383,023 49,260 281,026 878,197 Share of support and governance costs {see note 11) Governance 21,469 21,469 164,888 383,023 49,260 302,495 899,666 Analysis by fund Unrestricted funds- general Restricted funds 162,332 2,556 371,369 11,654 49,260 297,207 5,288 880,168 19,498 164,888 383,023 49,260 302,495 899,666 11 Support costs allocated to a¢tlvltles Total 2024 Total 2023 Governance 40,476 21.469 2024 2023 Governance costs comprise: Audit fees Accountancy Legal and professional 4,850 16,643 18,983 4,620 12,591 4,258 40,476 21,469 -25- ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 11 Support costs allocated to activities {Continued) Support and governance costs are recharged in accordance with charitable activity and usage. 12 Auditor's remuneration Fees payable to the charity's auditor and associates.. 2024 2023 For audit services Audit of the financial statements of the charity 4,850 4,620 For other services All other non-audit services 9,620 5,148 13 Trustees None of the Trustees lor any persons connected with them) received any remuneration or benefits from the charity during the year12023: £nil). 14 Employees Number of employees The average monthly nurnber of employees during the year was.. 2024 Number 2023 Number Employees 26 30 Employment ¢osts 2024 2023 Wages and salaries Social security costs other pension costs Volunteer counselling and CSR 507,506 39,852 9,564 62,814 495,863 34,495 9,601 60,594 619,536 600,553 There were no employees whose annual remuneration was £60,000 or more. 15 Other expenditure Unrestrlcted Unrestricted funds funds 2024 2023 Net loss on disposal of tangible fixed assets 95 26- ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 16 Tangible fixed assets Freehold land Buildlng and bulldlngs improvements Office Equipment Motor vehlcles Total Cost At 1 September 2023 Additions Disposals 170.654 2,798,039 306,707 18,333 53,632 1,141 (1,1411 (31,4401 31,440 3,053,765 326,181 132,581) At 31 August 2024 477,361 2,816,372 53,632 3,347,365 Depreciation and impairment At 1 September 2023 Depreciation charged in the year Eliminated in respect of disposals 48,181 4,820 529,949 53,082 43,266 31,357 5,Q45 83 {1,046) (31,440) 652,753 63,030 (32,486) Al 31 August 2024 53,001 583,031 47,265 683,297 Carrying amount Al 31 August 2024 424,360 2,233,341 6,367 2.664,068 Al 31 August 2023 122,473 2,268.089 10,366 83 2,401,011 The carrying value of land included in land and buildings comprises.. 2024 2023 Freehold 50,654 50,654 A Charge was issued on 12 October 2011 to the National Heritage Memorial Fund over 107 Great Mersey Street in accordance with the grant agreement dated 22 June 2011 between Rotunda Ltd. and the National Heritage Memorial Fund. The charge will last for 25 years from the agreement date. The trustees consider that the net book value of tangible fixed assets is a true and fair representation of their value in use al the year end. Land and buildings and building improvements includes investment property. The trustees deem approximately 200/0 is investmeni property producing rental income. The assel is shown under tangible fixed assets only. The fair value of this component part of the property cannot be reliably measured withwl undue cost to the charity. 27- ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 17 Flxed asset Investments other investments Cost or valuation Al 1 September 2023 & 31 August 2024 Carrying amount At 31 August 2024 At 31 August 2023 2024 2023 Other investments comprise.. Notes Investments in subsidiaries The Gompany holds 100 % issued shares in Rotunda Enterprises C.l.C. which was incorporated as a trading subsidiary on 9 December 2004. 18 Stocks 2024 2023 Finished goods and goods for resale 440 941 19 Financial instruments 2024 2023 Carrylng amount of financlal assets Debt instruments measured at amortised cost Equity instruments measured at cost less impairment 586,592 514,397 Carrying amount of f inancial liabilities Measured at amortised cost 356,532 179,851 28- ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 20 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Refurbishment project work in progress Amounts owed by subsidiary undertakings Other debtors Prepayments and accrued income 33,845 24,004 8,400 10,281 1,003 80,686 10,062 89,848 48,391 182,146 124,374 21 Creditors: amounts falling due withln one year 2024 2023 Notes Bank loans Other taxation and social security Deferred income Trade creditors Other credilors Accruals 23 50,583 9,158 83,312 15,741 3,665 20,480 40,492 9,108 4,767 10,085 2,067 11,043 24 182,939 77,562 22 Creditors: amounts falling due after more than one year 2024 2023 Notes Bank loans 23 266,063 116,164 23 Loans and overdrafts 2024 2023 Loans 316,646 156,656 Payable within one year Payable after one year 50,583 266,063 40.492 116,164 Amounts included above which fall due after five years.. Payable by inslalments 64,642 14,736 The long-lerm loans are secured by fixed charges over the properties. 29- ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 24 Deferred income 2024 2023 Other deferred income 83,312 4,767 2024 2023 Total deferred income at 1 September 2023 Amounts received in year Amounts credited to statement of financial activities 4,767 83,312 14,7671 128,084 4,767 {128,084) Total deferred income at 31 August 2024 83,312 4,767 25 Retirement benefit schemes 2024 2023 Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes 9,564 9,601 The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 26 Unrestricted funds - Designated fund The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.. At1 September 2023 Income At 31 August 2024 Minibus fund 29,900 29,900 Minibus fund This relates to insurance money received for a minibus that was written off. The funds are to be used to purchase a new minibus. 30- Ln t in U) fj o) 07) Tl UJ W) (D ZJ Cortr 25 rs O) r ￿- W) >c CDr C4JCO VLL OCÉ ¢D 2LL ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 29 Operatlng lease commitments At the reporting end dale the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases. which fall due as follows.. 2024 2023 Within one year Between two and five years 9.864 11,772 9,864 20,748 21,636 30,612 30 Related party transactions Remuneration of key management personnel The remuneration of key management personnel was as follows.. 2024 2023 Aggregate remuneration 134,203 52,069 Included within other debtors is a balance of £86,050 which is due from Rotunda Community Land Trust Limited, a registered society of which the trustees Mr P Cashen and Mr P Musa and the CEO Ms M Ennis are also directors. Also included in debtors is a balance due from subsidiary of £10,062 which is due from Rotunda Enterprises C.l.C., a community interest company of which Mr P Cashen, a truslee, and Ms M Ennis, CEO, are also directors. 31 Company limited by guarantee Rotunda Limited is incorporated under Ihe Companies Act as a company limited by guarantee. The liability of the members is limited to £1. -33- ROTUNDA LTD. COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 32 Cash generated from operations 2024 2023 Surplus for the year 38,780 222,832 Adjustments for.. Investment income recognised in statement of financial activities Loss on disposal of tangible fixed assets Depreciation and impairment of tangible fixed assets 133,505) 95 63,030 120,0311 49,896 Movements in working capilal.. DeGreasel(increase) in stocks {Increaselldecrease in debtors Increasel(decrease) in credilors Increase/{decreasel in deferred income 501 (57,772) 16,740 78,545 (941) 96,635 {27,101) 1123,317) Cash generated from operations 106,414 197,973 33 Analysis of changes in netfunds At 1 September 2023 Cash flows At 31 August 2024 Cash at bank and in hand 479,109 {26,272) 452,837 Loans falling due within one year Loans falling due after more than one year 140,492) (116,164) (10,091) {149,8991 (50,583) {266,063) 322,453 1186,262) 136,191 34-