Charity Registration No. 518951
Company Registration No. 02050597 (England and Wales)
ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Philip Cashen (Chair)
William Connolly
Philip Corfield
Victoria Cowley
Keith Housley
Paula McCabe
Richard Meegan
Paul Musa
Chief Executive Officer
Maxine Ennis
Secretary / 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 Street
Liverpool
Merseyside
L5 2PL
Auditor
Mitchell Charlesworth (Audit) Limited
Suites C,D,E, & F
14th Floor The Plaza
100 Old Hall Street
Liverpool
L3 9QJ
Bankers
Lloyds Bank plc
88-94 Church Street
Liverpool
Merseyside
L1 3HD
ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
CONTENTS
Page
Trustees' report
1 - 8
Statement of trustees' responsibilities
9
Independent auditor's report
10 - 12
Statement of financial activities
13 - 14
Balance sheet
15
Statement of cash flows
16
Notes to the financial statements
17 - 35
ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 AUGUST 2025
- 1 -

The Trustees present their report and financial statements for the year ended 31 August 2025.

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 (FRS 102) (effective 1 January 2019)".

Introduction

As we reach the close of another transformative year at Rotunda Ltd, there is a great deal to be celebrated. 2024-25 has brought much change - locally, regionally and nationally - along with great opportunities, which we have used as a team to build even stronger foundations for the future, taking time prior to our 40th birthday in August 2026 to review learning to date and identify future goals.

Rotunda has been serving people in North Liverpool since 1986 and been adept at moving with the times, as local need dictates. Though much has already been achieved, there remains much more to do, most painfully demonstrated by the flare in far-right activity seen in the aftermath of the Southport attacks in Summer 2024. This along with wider community need, has shaped our strategic goals for 2024-27, which are as follows:

- Grow: work with more people, develop our services, increase our partnerships

- Strengthen: establish suitable infrastructure and mechanisms to support our vision and future

- Deepen: position ourselves to achieve maximum impact, for people

These ambitions have been supported by significant developments in Rotunda's infrastructure, strategy and operations. We have reviewed key strategies, refined our monitoring and evaluation processes and invested in organisational communications, to further our reach, amplify our impact and best serve local people. We continue to receive resounding support for our efforts from Public Health, Liverpool City Region Combined Authority (LCRCA) and Liverpool City Council. Rotunda were invited to submit evidence of our impact to Liverpool's successful application for Marmot City Status; were one of five organisations nationally to receive Locality investment in our community cohesion activity; and have presented findings from our contribution to the groundbreaking Economies for Healthier Lives programme to the Health Foundation. Our work continues to contribute to the Liverpool City Plan, and our results secure further investment, such as Liverpool School of Tropical Medicine funded suicide prevention activity and Torus Foundation Healthy Neighbours, in support of our transformative community led approach. We uphold our responsibility to influence local policy and best practice by maintaining the visibility of resident's voices via several local leadership boards (i.e. Well-Placed Health Leaders Board, Pathways Alliance, LCRCA Strategic Investment Fund Panel).

"Thank you. I didn't know I needed support until the attack triggered me, and I realised I haven't been coping, I feel I can plan my future now."

Rotunda Participant

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 2025
- 2 -
Achievements and performance

The Trustees of Rotunda Ltd extend as ever our great gratitude to the dedicated staff, volunteers and community members who make our wheels turn. It is the efforts of our fantastic people, who consistently give their time, skill and care to make us the much-loved, respected and valued organisation we continue to be. The trust placed in us is built upon our reputation for quality and compassion, delivered by our hard-working team, who keep community at the heart of all we do. Our people are everything to us, and we wish to thank all who have come through Rotunda's doors over the past year - whether to complete a course, buy a coffee, or sit in the garden on those hot summer days - for their continued trust and participation.

Our funders of course make our work possible, and we extend great gratitude to them all: Liverpool School of Tropical Medicine, Liverpool Charitable & Voluntary Services, Locality, Arnold Clark, Torus Foundation, Reach Fund, Rotary Club, Cash for Kids, Shoulder to Shoulder, Liverpool City Council, Feeding Liverpool, Total Energies, Sefton Council, Men's Sheds, National Institute for Health & Care Research, Sutton Croft, John Moores Foundation, VOLA, Garfield Weston, Workers Educational Association, Liverpool City Region Combined Authority (LCRCA) and Adult Skills Budget.

Alongside financial investment is the invaluable continued support of those partners who share their professional expertise in service of our development: Brabners LLP, Nugent Care, Sovini Group and Halsall Lloyd Partnership.

Education

Our Education Team continue to drive our mission to deliver quality, community-based education options for people facing the greatest barriers to engagement. Key to these organisational aims has been our partnership with VOLA, to deliver The Progress Partnership (TPP) Project, through which we have engaged economically inactive individuals with high-level needs. This programme alone has delivered direct support to 36 participants, many of whom faced significant social challenges, whilst offering signposting to stakeholders and partner services ensuring learners have access to further support and opportunities in step with individual need. We are delighted with the programme outcomes, which have been included:

- Qualifications achieved

- Progression into employment

- Engagement in volunteering opportunities

- Attainment of personal development goals

Rotunda is a chosen partner of LCRCA's Digital Inclusion Initiative, successfully allocating 37 tablets and providing training to community members without digital access, empowering people marginalised by their circumstances to engage online and access essential services with confidence. Rotunda has complimented this offer through the Learn My Way Project, a digital initiative designed to help digitally excluded citizens gain confidence and essential online skills allowing them to safely navigate the internet, set up emails, access online services such as banking, healthcare and job search.

In 2024-25, Rotunda College engaged a phenomenal 321 individuals, delivering 'private' and 'Adult Skills Fund' (ASF) courses. We continue to reach those at most risk of being marginalised, ensuring ours is an offer for all:

- 37.4% of participants identified as being from Black, Asian and/or 'any other background', highlighting our commitment to provide environments and provision which engages a diverse cohort of learners

- 33.5% of our learners reported having a disability or additional learning support needs, much higher than the national average (15-20%, British Medical Bulletin), demonstrating the efficacy of our personalised holistic approach to education.

- 73% of learners declared themselves as unemployed, making clear anew the ongoing need in North Liverpool for accessible education, employment pathways and a long-term view for local people facing multiple barriers to secured work and income.

- 498 qualifications were delivered, with an impressive 98% retention, 88% pass rate; Rotunda continues to both ‘reach and keep’ our learners through our comprehensive offer.

ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 3 -

The credibility of our educational endeavours is further validated by Rotunda's three Internal Quality Assurance (IQA) officers and our team of five fully qualified educators, all of whom regularly review our offer. To amplify impact, Rotunda College facilitates powerful employment pathways with local schools, Daisy Employment Services, Tradewinds, Nugent Care and Hugh Baird, strengthening our links with the Department for Work & Pensions.

We have introduced several new qualifications in 2024-25 to best support people to move into employment, in response to feedback from our learner community.

- Certificate in Mental Health

- Level 2 Certificate in Understanding Neurodiversity

- Behaviour that Challenges

- Introduction to early Years

- Level 1 Award in Early Years Practitioner

- Award to Work in Adult Social Care

Each qualification compliments our existing offers and provides learners with enhanced skills and sector relevant knowledge. These additions create opportunities for learners to strengthen their CV's, close skills gaps within key employment sectors and improve progression routes in further learning or work opportunities. We are delighted to have maintained Direct Claim status for each qualification delivered, as another indication or our commitment to delivering excellent services, in line with national quality assurance standards. Access to the Additional Learning Support facilitated the following to support our cohort:

- 19 learners received subsidised childcare

- 93 learners received subsidised travel and meals from our onsite cafe

External Audits and Quality Assurance

Throughout the year, external auditing exercises have confirmed the quality of our provision. The Workers Education Association, Sefton Community Learning and VOLA conducted multiple Observations of Teaching & Learning, all of which gave highly positive feedback e.g. tutors delivered with a high level of subject knowledge and engaged the students well; wider skills are effectively supported to develop wide range of skills including presentation skills and communication and listening; all learners are encouraged to research effectively to encourage independent learning.

Early Years’ at Rotunda

Led by compassionate professionals dedicated to providing high-quality early years education, our nursery and preschool services continue to offer vital provision to local families, regardless of household income. Despite a necessary price increase amongst our general nursery and pre-school offer this year, we are still the lowest cost provider in the area; we do not charge anything at all for children on funded places, making this a completely free offer for those families.

This year, we filled 53 places across nursery (34) and pre-school (19). 21 places were offered to parents engaged in Rotunda College courses, increasing access in line with findings showing the enormous impact of childcare costs upon parents' ability to gain employments (Gingerbread 2022).

We pride ourselves on inclusivity and care. 13 of our children have SEND need, with 12 gaining additional support via outside agencies (e.g. speech and language, OTs, educational psychologists) via engagement with Rotunda and four have EHCP plans. Our in-house SENCO staff oversee play plans and individual learning plans. We continue to invest in this provision, with an additional staff member undertaking training in 2025. We draw upon support from Liverpool City Council's SEND Team to access training, inform strategies and gain ideas for service improvements. As a result, in 2024-25 we have introduced regular reviews with parents of children who have a SEND need to explore children's progress and next steps.

21 of our children have English as an additional language, with parents who have recently moved to Liverpool, or who do not speak English in the home. We recognise the additional support these children can require and use techniques such as communication boards and key words gained from their families to assist children making the transition to a wholly English-speaking environment. When communicating with parents who do not speak English, we translate via wider family members, friends and technology to support communication. We can also signpost parents to ESOL courses, if desirable.

ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 4 -

Our success hinges on our uncompromising insistence that children are the centre of everything we do, with activities designed to meet their needs and interests. Our service pedagogy is informed by Rotunda core values, and our curriculum meets Ofsted’s three ‘I’s - Intent, Implementation, Impact. Our nursery team have added a fourth: we start all we do with Interest, personalising our service to children as individuals, with profound results - even for children facing significant challenges.

Our biggest area of learning is communication and language, in keeping with Liverpool City Council’s School’s Improvement agenda, which seeks to raise the city’s average reading age (currently placed at nine years old).

We maintain a focus upon social, academic and pastoral investment, embedding these themes across activity. Highlights from our varied timetable this year have included Forest School and hatching chicks in spring 2025, offering opportunities to learn about life cycles, new vocabulary and changes in season. The excitement and interest prompted by a rich and creative timetable also supports children who are struggling to separate from mum and dad. This all gets children ready for next step in their learning and development journey, in keeping with Development Matters: Early Years Foundation, building upon existing assets and embedding additional ‘cultural capital’ through exposure to greenspace and varied opportunities.

We also continue Rotunda’s overarching aim to reduce poverty and health inequity, working with local children’s centres around oral health and hygiene to distribute toothbrushes and toothpaste following the State of Health in the City report (2024) showing tooth decay to be affecting around 37% of 5-year-olds, leading to well above average extractions for young children. We signpost families to our Right fed Shed food pantry, tackling child poverty rates which are as high as 36% in our neighbouring wards (Liverpool City Council, 2024). Access to Early Years Pupil Premium means that 7 children in nursery and 9 in pre-school gain extra funding for food and resources.

In support of all our aims, we remain committed to developing our team. In this year alone, staff have received the following training:

- Targeted interventions for children with SEND needs

- Family Help training; how to support families with two or more services involved

- Safeguarding: including essential refreshers, county lines, professional curiosity, domestic abuse awareness and reducing parental conflict

- Champions; all staff have a role as parent, partnership, language, SENCO or PANCO Champion, to support the unique functions associated with these titles

We work in collaboration with Rotunda’s wider offer to join up partners and offer the best possible experience to our families. We are currently operating a green with School Improvement Liverpool and have a key role within Consortia, sharing best practice and learning with this local SEND support network Our nursery manager sits on panel, allocating levels of funding and targeted support.

ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 5 -

Women’s Hub

In 2024-25, our Women’s Hub engaged 63 women with its transformative programme of wellbeing, confidence-building and employability skills, celebrating our women’s achievements at a wonderful graduation event held later that spring.

- 100% of our women achieved a social justice outcome

- 34% identified as being from an ethnic and/or cultural minority background

- 61 women progressed onto sector specific training programmes e.g. Support Teaching & Learning; Health & Social Care. 68% of learners on these programmes gain paid employment following training

- 30 women have gained employment as a direct result of taking part in Women’s Hub.

- 3 women progressed onto volunteering opportunities in areas such as hospitality, primary education, advocacy, retail, community work and horticulture due to taking part in Women’s Hub.

We engaged the most marginalised local citizens, integrating our successful employment support service with Desian, a recruitment agency which shares Rotunda’s person-centred ethos. Desian staff regularly visit learners, conducting learner interviews on site to reduce barriers, boost engagement and improve outcomes. By working closely together with the right partners, our Wellbeing Coordinator has been able to process applications swiftly, providing employer feedback to tailor individual plans and ultimately support people into work. This Learning-to-Earning model crucially uses trauma informed approaches to ensure our more vulnerable learners receive the support they need, at a suitable pace. One radical adjustment to much of the employability sector has been the acknowledgement from local employers that the skills, diversity and strength of mothers seeking Teaching Assistant positions is immeasurable, changing the landscape of how applications are assessed and how we serve the ‘hardest to reach’.

In another win for social justice efforts, Rotunda is working closely with charities who support survivors of domestic abuse, embedding targeted support into our education, employability and enabling programmes. SWACA are now providing case workers for students and an updated community directory (e.g. food banks, welfare advice) is made available to all our participants along with the offer of a counselling referral.

We know from conversations with local mental health care providers that stretched statutory services mean people are ‘pushing against open doors’ (Mersey Care, 2024). To meet this need, Rotunda College tutors are coming together with the Women’s Hub to build partnerships to support students struggling with caring responsibilities, domestic violence, poverty, addiction and mental health difficulties. In illustration of need, most women accessing our services have experienced domestic abuse.

We stay informed on the intersections between work, health, and government policy, attending the Women’s Health Strategy Workshop led by Public Health in December 2024, refining our approach in line with local findings. Responding to the alarming statistics around women’s health and unemployment, we partnered with Lush Cosmetics to host a pamper event for 20 women receiving Universal Credit, reaching women living in Whitechapel Centre homeless hostels and in areas of serious deprivation in the city. The event also introduced them to Rotunda’s Women’s Hub and to the work and education services at the Rotunda.

“I come to the women’s group at Rotunda to meet other women and I get a lot of strength to take back to my own family the group helps relax and feel included.”

Women’s Hub Participant

Community Hub

Rotunda’s Community Hub is the link between our offer and the people it exists to serve. Community owned and led, we take direction from our members, co-producing a timetable of activities curated to meet evolving needs, never more important than in the wake of far-right activity in Liverpool in August 2024. This year, we estimate Rotunda has engaged approximately 1,500 people through our Heritage Cafe, Community Garden, Wellbeing Activities Programme, Children & Young People’s Programme, Food Pantry and Seasonal Events, bringing people together in our inclusive, welcoming spaces.

Heritage Cafe

We’ve invested in our cafe team and volunteers, to boost footfall, community engagement and unrestricted revenue through sales. With a new Community Development Coordinator in post since July 2024, we have immediately seen a significant improvement, achieved through menu revision, activities taking place in the cafe and on-the-ground publicity efforts. Our cafe also provides home cooked, hot meals for our learners, holiday club members and nursery children, embedding anti-food poverty action and healthy options across our programmes.

ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 6 -

Community Garden

Our beautiful garden is now equipped with pizza ovens, offering a unique source of income through events and community Cook & Share activities. However, our biggest development this year has been our popular Men’s Shed. Established in March 2024, this vital provision has been developed from community insights drawn from our ReCite programme suicide prevention strategy delivered in partnership with the Liverpool School of Tropical Medicine and supports local men’s mental health in response to their requests for social activities which do not centre around alcohol and recreational drugs.

Wellbeing Activities

We have an ever-evolving programme of Seasonal Events, In 2024-2025 we delivered:

- Santa’s Grotto, funded by Options for Supported Living: delivering gifts and cheer to 80 families

- Halloween, funded by Peel Ports Group: 90 families engaged

- Folly Fest, funded by Liverpool City Council Social Cohesion & Communities Together Funds: 200 community members joined us for a day of music, laughter and connection

- Holiday Club, funded by Holiday Activity Fund: 480 fully funded places for primary school aged children in receipt of benefit related school meals, providing food and fun to keep them busy!

- Knit & Natter: 10 local women join us each week and enjoy a fully funded day out together each year

- Chair Yoga, funded by Liverpool City Council Neighbourhood Fund & Cllr Tricia O'Brien (Labour; Kirkdale East): 180 people attended for a much-needed weekly unwind

- Live Well Bus, funded by Cheshire & Merseyside NHS: 105 community members received access to vaccinations, health checks and advice on their doorstep over three visits from the bus this year.

- Blood Pressure Champions, funded by Cheshire & Merseyside NHS: 70 people received free blood pressure checks via our trained staff

- Community Insight Gathering, funded by the School of Tropical Medicine: 100 participants fed back on mental health needs amongst local populations

Volunteer & Work Experience Programme

2024-25 saw over 100 volunteer placements within Rotunda services. We support the following volunteer roles:

- Community Volunteers: support groups, keep our vital work alive and contribute to organisational development.

- Corporate: local businesses (e.g. Brabners; Uber) who donate their time and resources in support of the local environment children, families and the elderly.

An additional source of great pride is our Intern to Work programme, a Liverpool Council funded initiative, engaging young people aged 18-24 years who have an Education, Health and Care Plan or disability in tailored, meaningful opportunities. Rotunda has now hosted five six-month placements, offering young people personalised pathways to achieve their goals. One of our talented interns has progressed to a Teaching Assistant course in Rotunda College, transitioning seamlessly to our education offer via support from the Community Hub team and inhouse partners Ladders of Life ADHD Support, who have crafted a personalised learning and development plan with Rotunda College staff. We have also employed another of our impressive Intern to Work graduates into our Engagement Team, where they continue to thrive. Our success has led to Rotunda being invited to speak on an employability panel at the Liverpool City Council Intern to Work Employer Forum – specifically regarding inclusive interview processes, encouraging businesses across the region to welcome apprentices – leading the way on a region wide innovative scheme supporting the next generation of workers.

Further still, after being selected to partner with Liverpool City Region Combined Authority on the trailblazing Economies for Healthier Lives programme, in September 2024 Rotunda presented our outcomes and impact to the Health Foundation, in Leeds informing future national policy for employers.

Our Community Hub also provides numerous opportunities for Rotunda College learners to gain skills, confidence and experience in a range of roles, whether during our weekly Homework Club, supporting administrative tasks or trialling customer facing posts. In March 2024, we welcomed one of our skilled Women’s Hub graduates to a crucial role in our core operations. We could not be more delighted with the appointment and are as ever proud to nurture local talent and ability.

ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 7 -
Financial review

The results for the year and the charity's financial position at the end of the year are shown in the attached financial statements.

Total income in the year was £1,122,771 (202 4: £974,628) before accounting for the release of deferred income in relation to the refurbishment project of £300,000 (2024: £nil) and the insurance claims totalling £nil (2024: (£29,900) (see note 7). E xpenditure was £1,110,336 (202 4: £965,748). The surplus for the year is £312,435 (202 4: £38,780).

As at 31 August 202 5, the charity had reserves of £3,162,925 (20 24: £2,850,490). Included within these reserves are £1,122,751 (202 4: £882,676) of restricted funds (see note 2 7) and £9,980 (2024: £29,900) of designated funds (see note 25). Included within unrestricted funds are fixed assets totalling £1,902,046 (202 4: £1,858,659), the balance of the fixed assets are included within the restricted funds. These funds can only be realised upon sale of these assets. The charity had free reserves of £128,147 as at 31 August 20 25 (202 4: £79,254).

Reserves policy

The c harity aims to 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 and a half month's expenditure and so has currently fallen short of the 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 Risk Assessment procedure and have established systems to ensure that the necessary steps can be taken to mitigate these risks.

A Future Built by Our Community: Looking Ahead With Purpose

The year ahead marks a pivotal moment for Rotunda and for the communities we serve across North Liverpool. We are entering a new chapter—one shaped by ambition, collaboration, and a deep belief that local people deserve high‑quality, locally led services that genuinely transform lives. Our plans for the future are not simply organisational goals; they are a commitment to ensuring that North Liverpool residents and beyond have the tools, opportunities, and support to shape their own destinies.

Community‑Led Housing: Breathing New Life Into Our Area

One of the most exciting developments is our expanding community‑led housing offer. This work is more than bricks and mortar—it is about creating safe, stable, and empowering homes with wraparound support for those who need it most. By placing residents at the heart of decision‑making, we are building neighbourhoods that reflect local priorities, strengthen social connections, and create long‑term resilience. These homes will become anchors for wellbeing, opportunity, and pride.

Health, Wellbeing, Skills, and Employment

Rotunda’s long‑standing programmes in health, wellbeing, employment, and skills continue to be a lifeline for many. Over the coming year, we will deepen and expand this work, ensuring that every resident—regardless of background or circumstance—can access the support they need to thrive. Our integrated approach means that people are not just supported in one area of life, but across the full spectrum of challenges and opportunities they face.

A Legacy of Local Growth and Place‑Making

The combination of community‑led housing, skills development, and holistic support will create a lasting legacy for North Liverpool. We are investing in people, in place, and in the belief that communities flourish when they are trusted to lead. This work will drive local economic growth, nurture enterprise, and strengthen the identity and vibrancy of our neighbourhoods. It is a long‑term commitment to building a fairer, healthier, and more prosperous future—designed and delivered by the community itself.

Structure, 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 its Articles of Association.

ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 8 -

The Trustees, who are also the Directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Philip Cashen (Chair)
William Connolly
Philip Corfield
Victoria Cowley
Keith Housley
Paula McCabe
Richard Meegan
Paul Musa
Layla Davies
(Appointed 9 September 2024 and resigned 22 September 2025)
Chloe Doyle
(Resigned 22 September 2025)

Rotunda has a Trustee Board which currently consists of 8 people from various social and professional backgrounds and it meets bi-monthly. The role of the 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; to manage the various risks that may arise; and to foster a culture of excellence in all that Rotunda does. It is important to ensure that the membership of the Trustee Board has a good blend of knowledge, skills and experience to continue 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 to contribute to the continued success of Rotunda.

A C hief E xecutive is appointed by the T rustees 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 at 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, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

Small company provisions

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

On behalf of the board of Trustees

Philip Cashen (Chair)
Trustee
Dated: 21 May 2026
ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 AUGUST 2025
- 9 -

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 Practice).

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 consistently;

- observe the methods and principles in the Charities SORP;

- make judgements and estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

- prepare the financial statements on the going concern basis unless it is inappropriate to 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 statements 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 detection of fraud and other irregularities.

ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ROTUNDA LTD.
- 10 -

Opinion

We have audited the financial statements of Rotunda Ltd. (the ‘charity’) for the year ended 31 August 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

-

give a true and fair view of the state of the charitable company's affairs as at 31 August 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted 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 Auditor's responsibilities for the audit of the 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 going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt 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 the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

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 the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to 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 materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement 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 to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed 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' r eport for the financial year for which the financial statements are prepared, which includes the d irectors' r eport prepared for the purposes of company law, is consistent with the financial statements; and

-

the d irectors' r eport included within the trustees' r eport 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.
- 11 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the d irectors' r eport included within the trustees' r eport.

We have nothing to report in respect of the following matters 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 agreement with the accounting records and returns; or

-

certain disclosures of trustees' remuneration specified by law are not made; or

-

we have not received all the information and explanations we require for our audit; or

-

the Trustees 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 s tatement of trustees' r esponsibilities, 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 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 to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 misstatement 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 to 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 irregularities, 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 respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to 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, anti-bribery, employment and health and safety legislation;

- 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 regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ROTUNDA LTD.
- 12 -

W e assessed the susceptibility of the company’s financial statements to material misstatement, 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 actual, suspected and alleged fraud; and

- considering the internal 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-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance; and

- enquiring of management as to actual and potential litigation and claims.

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 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 detect 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: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of P art 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Anita Mason BA (Hons) BFP FCA (Senior Statutory Auditor)
For and on behalf of Mitchell Charlesworth (Audit) Limited, Statutory Auditor
Accountants
Suites C,D,E, & F
14th Floor The Plaza
100 Old Hall Street
Liverpool
L3 9QJ
22 May 2026
ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2025
- 13 -
Current financial year
Unrestricted
Unrestricted
Restricted
Total
Total
funds
funds
funds
general
Designated
2025
2025
2025
2025
2024
Notes
£
£
£
£
£
Income and endowments from:
Donations and legacies
3
74,057
-
300,000
374,057
66,118
Charitable activities
4
903,977
-
7,750
911,727
796,015
Other trading activities
5
84,951
-
4,600
89,551
78,990

Investment s

6
46,959
-
-
46,959
33,505

Other incom e

7
477
-
-
477
29,900
Total income
1,110,421
-
312,350
1,422,771
1,004,528
Expenditure on:

R aising funds

8
105,479
-
630
106,109
76,188
Charitable activities
9
994,121
-
10,106
1,004,227
889,465
Other
14
-
-
-
-
95
Total expenditure
1,099,600
-
10,736
1,110,336
965,748
Net incoming before transfers
10,821
-
301,614
312,435
38,780
Gross transfers between funds
27
81,459
(19,920)
(61,539)
-
-
Net income for the year/
Net movement in funds
92,280
(19,920)
240,075
312,435
38,780
Fund balances at 1 September 2024
1,937,914
29,900
882,676
2,850,490
2,811,710
Fund balances at 31 August 2025
2,030,194
9,980
1,122,751
3,162,925
2,850,490

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.
ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2025
- 14 -
Prior financial year
Unrestricted
Unrestricted
Restricted
Total
funds
funds
funds
general
Designated
2024
2024
2024
2024
Notes
£
£
£
£
Income and endowments from:
Donations and legacies
3
66,118
-
-
66,118
Charitable activities
4
796,015
-
-
796,015
Other trading activities
5
78,990
-
-
78,990

Investment s

6
33,505
-
-
33,505

Other incom e

7
-
29,900
-
29,900
Total income
974,628
29,900
-
1,004,528
Expenditure on:

R aising funds

8
76,188
-
-
76,188
Charitable activities
9
866,101
-
23,364
889,465
Other
14
95
-
-
95
Total expenditure
942,384
-
23,364
965,748
Net income before transfers
32,244
29,900
(23,364)
38,780
Gross transfers between funds
27
73,219
-
(73,219)
-
Net income for the year/
Net movement in funds
105,463
29,900
(96,583)
38,780
Fund balances at 1 September 2023
1,832,451
-
979,259
2,811,710
Fund balances at 31 August 2024
1,937,914
29,900
882,676
2,850,490

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.
ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
BALANCE SHEET
AS AT 31 AUGUST 2025
31 August 2025
- 15 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
15
2,732,292
2,664,068
Investments
16
1
1
2,732,293
2,664,069
Current assets
Stocks
17
440
440
Debtors
19
367,284
182,146
Cash at bank and in hand
463,152
452,837
830,876
635,423
Creditors: amounts falling due within one year
20
(152,742)
(182,939)
Net current assets
678,134
452,484
Total assets less current liabilities
3,410,427
3,116,553
Creditors: amounts falling due after more than one year
21
(247,502)
(266,063)
Net assets
3,162,925
2,850,490
The funds of the charity
Restricted income funds
27
1,122,751
882,676
Unrestricted funds - general
26
2,030,194
1,937,914
Unrestricted funds - Designated
25
9,980
29,900
3,162,925
2,850,490

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 21 May 2026
Philip Cashen (Chair)
Trustee
Company registration number 02050597 (England and Wales)
ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2025
- 16 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
32
121,746
106,414
Investing activities
Purchase of tangible fixed assets
(139,829)
(326,181)
Investment income received
46,959
33,505
Net cash used in investing activities
(92,870)
(292,676)
Financing activities
Proceeds from new bank loans
-
200,000
Repayment of bank loans
(18,561)
(40,010)
Net cash (used in)/generated from financing activities
(18,561)
159,990
Net increase/(decrease) in cash and cash equivalents
10,315
(26,272)
Cash and cash equivalents at beginning of year
452,837
479,109
Cash and cash equivalents at end of year
463,152
452,837
ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
- 17 -
1
Accounting policies
Charity information

Rotunda Ltd. is a private company limited by guarantee incorporated in England and Wales. The registered office is Rotunda College, 109 Great 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 102) (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. Monetary a mounts 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 set out below.

1.2
Going concern

At the time 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

Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.

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 time 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 services provided free of charge to the Charity are recognised as other income using the trustees' estimate of the amounts the Charity would have to pay in the open market for their equivalents.

Grants received are recognised at the time the charity becomes legally entitled 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 receipt. 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 donations 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 amount is not known, the legacy is treated as a contingent asset.
ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 18 -
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 amount of the obligation 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 to the applicable expenditure headings in the Statement of Financial Activities. Support and governance costs 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 comprising of direct charitable expenditure to meet the objectives of the charitable company. Support and governance costs relate to the management and operation of the organisation and also compliance with constitutional and statutory requirements in producing the annual report. These are dealt with in the 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 without undue cost or effort.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% per annum on a straight line basis
Building improvements
2% or 20% per annum on a straight line basis
Office Equipment
25 - 33% reducing balance or straight line
Motor vehicles
20% 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 statement of financial activities.

1.7
Fixed asset investments

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Fixed asset investments are stated at cost.

1.8
Impairment 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 estimated in order to determine the extent of the impairment loss (if any).

1.9
Stocks

Stocks are stated at the lower of cost and estimated selling price 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 distribution at no or nominal consideration are measured the lower of replacement cost and cost.

ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 19 -

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.10
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments 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 to 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 instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts 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 at the present value of the future p aymen ts 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 at 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
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 20 -
1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

1.15

Taxation

The charity benefits from various exemptions from taxation afforded by tax legislation and is not liable to 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 of VAT.

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to 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 to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates 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 timing of differences for income received and earned. If income has been received relating to 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.

3
Income from donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
Donations and gifts
3,326
-
3,326
3,070
-
3,070
Grants
-
300,000
300,000
-
-
-
Donated goods and services
70,731
-
70,731
63,048
-
63,048
74,057
300,000
374,057
66,118
-
66,118
Donated goods and services

Donated services are an estimate of the benefit of volunteer time based on hours spent and notional salary, together with time donated by the CEO. Also included in this figure is pro-bono support and guidance in relation to legal and professional fees.

Included in the balance in the prior year are also goods donated to the charity.

ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 21 -
4
Income from charitable activities
Childcare and nursery education
Adult education
Community Services
Core
Total
Total
2025
2025
2025
2025
2025
2024
£
£
£
£
£
£
Sale of goods
92,857
443,004
4,678
4,495
545,034
382,879
Services provided under contract
137,213
-
-
-
137,213
136,805
Performance related grants
5,000
97,269
34,557
81,647
218,473
260,771
Other income
-
-
10,102
905
11,007
15,560
235,070
540,273
49,337
87,047
911,727
796,015
Analysis by fund
Unrestricted funds - general
235,070
540,273
41,587
87,047
903,977
796,015
Restricted funds
-
-
7,750
-
7,750
-
235,070
540,273
49,337
87,047
911,727
796,015
Previous year:
Childcare and nursery education
Adult education
Community Services
Core
Total
2024
2024
2024
2024
2024
£
£
£
£
£
Sale of goods
84,037
286,897
1,209
10,736
382,879
Services provided under contract
136,805
-
-
-
136,805
Performance related grants
-
133,293
64,881
62,597
260,771
Other income
-
-
15,000
560
15,560
220,842
420,190
81,090
73,893
796,015
Analysis by fund
Unrestricted funds - general
220,842
420,190
81,090
73,893
796,015
ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 22 -
5
Income from other trading activities
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
Bistro
Grant income
49,444
-
49,444
45,330
-
45,330
Food income
35,507
4,600
40,107
33,660
-
33,660
Other trading activities
84,951
4,600
89,551
78,990
-
78,990
6
Income from investments
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Rental income
44,069
30,249
Interest receivable
2,890
3,256
46,959
33,505
7
Other income
Unrestricted
Unrestricted
Total
Unrestricted
Unrestricted
Total
funds
funds
funds
funds
general
Designated
general
Designated
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
Net gain on disposal of tangible fixed assets
477
-
477
-
-
-
Insurance claim
-
-
-
-
29,900
29,900
-
-
-
-
29,900
29,900
ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 23 -
8
Expenditure on raising funds
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
Trading costs
Bistro food, drink and other consumables
32,736
630
33,366
35,244
-
35,244
Staff costs
67,943
-
67,943
40,824
-
40,824
Depreciation and impairment
4,800
-
4,800
120
-
120
105,479
630
106,109
76,188
-
76,188
9
Expenditure on charitable activities
Childcare and nursery education
Adult education
Community Services
Core
Total
2025
2025
2025
2025
2025
£
£
£
£
£
Direct costs
Staff costs
166,727
283,889
32,112
85,375
568,103
Depreciation and impairment
8,121
13,895
4,203
41,061
67,280
Repairs and maintenance
6,312
244
1,656
21,376
29,588
Consultancy costs
-
13,000
-
32,575
45,575
Project costs
13,531
50,947
8,832
2,716
76,026
Advertising
-
547
118
8,145
8,810
Premises costs
20,530
11,119
2,876
13,147
47,672
Office costs
2,459
23,303
631
15,355
41,748
Travel and volunteer expenses
35
1,208
374
3,264
4,881
Other costs
10,831
1,916
3,921
35,038
51,706
228,546
400,068
54,723
258,052
941,389
Share of support and governance costs (see note 10)
Governance
-
-
-
62,838
62,838
228,546
400,068
54,723
320,890
1,004,227
Analysis by fund
Unrestricted funds - general
228,546
400,068
44,617
320,890
994,121
Restricted funds
-
-
10,106
-
10,106
228,546
400,068
54,723
320,890
1,004,227
ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
9
Expenditure on charitable activities
(Continued)
- 24 -
Previous year:
Childcare and nursery education
Adult education
Community Services
Core
Total
2024
2024
2024
2024
2024
£
£
£
£
£
Direct costs
Staff costs
136,494
193,485
34,684
214,049
578,712
Depreciation and impairment
61
842
1,799
60,208
62,910
Repairs and maintenance
2,050
-
4,017
19,702
25,769
Consultancy costs
-
16,791
-
2,421
19,212
Project costs
7,738
28,124
4,430
4,171
44,463
Advertising
985
2,985
621
4,966
9,557
Premises costs
9,690
-
1,139
29,771
40,600
Office costs
1,964
16,503
205
13,370
32,042
Travel and volunteer expenses
62
511
90
993
1,656
Other costs
1,477
2,511
377
29,703
34,068
160,521
261,752
47,362
379,354
848,989
Share of support and governance costs (see note 10)
Governance
-
-
-
40,476
40,476
160,521
261,752
47,362
419,830
889,465
Analysis by fund
Unrestricted funds - general
160,521
245,863
47,362
412,355
866,101
Restricted funds
-
15,889
-
7,475
23,364
160,521
261,752
47,362
419,830
889,465
10
Support costs allocated to activities
Total
Total
2025
2024
£
£
Governance
62,838
40,476
2025
2024
Governance costs comprise:
£
£
Audit fees
5,100
4,850
Accountancy
19,808
16,643
Legal and professional
37,930
18,983
62,838
40,476
ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
10
Support costs allocated to activities
(Continued)
- 25 -

Support and governance costs are recharged in accordance with charitable activity and usage.

11
Auditor's remuneration
Fees payable to the charity's auditor and associates:
2025
2024
£
£
For audit services
Audit of the financial statements of the charity
5,100
4,850
For other services
All other non-audit services
18,250
9,620
12
Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year (2024: £nil).

13
Employees
Number of employees

The average monthly number of employees during the year was:

2025
2024
Number
Number
Employees
30
26
Employment costs
2025
2024
£
£
Wages and salaries
545,682
507,506
Social security costs
39,319
39,852
Other pension costs
10,314
9,564
Volunteer counselling and CSR
40,731
62,614
636,046
619,536
There were no employees whose annual remuneration was £60,000 or more.
14
Other expenditure
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Net loss on disposal of tangible fixed assets
-
95
ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 26 -
15
Tangible fixed assets
Freehold land and buildings
Building improvements
Assets under construction
Office Equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 September 2024
477,362
2,816,372
-
54,297
-
3,348,031
Additions
14,292
2,327
98,056
5,234
19,920
139,829
Disposals
-
-
-
(666)
-
(666)
At 31 August 2025
491,654
2,818,699
98,056
58,865
19,920
3,487,194
Depreciation and impairment
At 1 September 2024
53,001
583,031
-
47,265
-
683,297
Depreciation charged in the year
8,802
54,333
-
4,961
3,984
72,080
Eliminated in respect of disposals
-
-
-
(475)
-
(475)
At 31 August 2025
61,803
637,364
-
51,751
3,984
754,902
Carrying amount
At 31 August 2025
429,851
2,181,335
98,056
7,114
15,936
2,732,292
At 31 August 2024
424,360
2,233,341
-
6,367
-
2,664,068

The carrying value of land included in land and buildings comprises:

2025
2024
£
£
Freehold
50,654
50,654

A Charge was issued on 12 October 2011 by the National Heritage Memorial Fund over 107 Great Mersey Street in accordance with the grant agreement dated 22 June 2011 between Rotunda L t d. and the National Heritage Memorial Fund. The charge will last for 25 years from the agreement date.

The Big Lottery Fund have placed a restriction on the sale of 107, 109, 113 and 115 Great Mersey Street until 31 August 2027.

A Charge was issued on 16 May 2025 by the Steve Morgan Foundation over 1 1 7 Great Mersey Street in accordance with the mortgage agreement dated 15 March 2024 between Rotunda L t d. and the Steve Morgan Foundation. The charge will last for 10 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 at the year end.

Land and buildings and building improvements includes investment property. The trustees deem approximately 20% is investment property producing rental income. The asset is shown under tangible fixed assets only. The fair value of this component part of the property cannot be reliably measured without undue cost to the charity.

ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 27 -
16
Fixed asset investments
Other investments
Cost or valuation
At 1 September 2024 & 31 August 2025
1
Carrying amount
At 31 August 2025
1
At 31 August 2024
1
2025
2024
Other investments comprise:
Notes
£
£
Investments in subsidiaries
1
1

The company holds 100% issued shares in Rotunda Enterprises C.I.C. which was incorporated as a trading subsidiary on 9 December 2004.

17
Stocks
2025
2024
£
£
Finished goods and goods for resale
440
440
18
Financial instruments
2025
2024
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
593,505
586,592
Equity instruments measured at cost less impairment
1
1
Carrying amount of financial liabilities
Measured at amortised cost
349,122
356,532
ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 28 -
19
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
44,260
33,845
Amounts owed by subsidiary undertakings
9,377
10,062
Other debtors
76,716
89,848
Prepayments and accrued income
236,931
48,391
367,284
182,146
20
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Bank loans
22
50,583
50,583
Other taxation and social security
9,446
9,158
Deferred income
23
41,676
83,312
Trade creditors
21,943
15,741
Other creditors
6,610
3,665
Accruals
22,484
20,480
152,742
182,939
21
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans
22
247,502
266,063
22
Loans and overdrafts
2025
2024
£
£
Loans
298,085
316,646
Payable within one year
50,583
50,583
Payable after one year
247,502
266,063
Amounts included above which fall due after five years:
Payable by instalments
66,136
64,642

The long-term loans are secured by fixed charges over the properties.

ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 29 -
23
Deferred income
2025
2024
£
£
Other deferred income
41,676
83,312
2025
2024
£
£
Total deferred income at 1 September 2024
83,312
4,767
Amounts received in year
2,557
83,312
Amounts credited to statement of financial activities
(44,193)
(4,767)
Total deferred income at 31 August 2025
41,676
83,312

24
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
10,314
9,564

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.

25
Unrestricted funds - Designated

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:

At 1 September 2024
Income
Transfers
At 31 August 2025
£
£
£
£
Minibus fund
29,900
-
(19,920)
9,980
Previous year:
At 1 September 2023
Income
Transfers
At 31 August 2024
£
£
£
£
Minibus fund
-
29,900
-
29,900
ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
25
Unrestricted funds - Designated
(Continued)
- 30 -

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 mini b us which has been purchased during the year.

26
Unrestricted funds

The unrestricted funds of the charity compri se the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be use d. The se include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 September 2024
Income
Expenditure
Transfers
At 31 August 2025
£
£
£
£
£
General funds
1,937,914
1,110,421
(1,099,600)
81,459
2,030,194
Previous year:
At 1 September 2023
Income
Expenditure
Transfers
At 31 August 2024
£
£
£
£
£
General funds
1,832,451
974,628
(942,384)
73,219
1,937,914
ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 31 -
27
Restricted funds

The restricted funds of the charity compri se the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be use d.

Movement in funds
Balance at
1 September 2023

Expenditure

Transfers
Balance at
1 September 2024

Incom e

Expenditure

Transfers
Balance at
31 August 2025
£
£
£
£
£
£
£
£
107 Project
878,628
-
(73,219)
805,409
-
-
(73,219)
732,190
DWP Kickstart Gateway
15,889
(15,889)
-
-
-
-
-
-
Refurbishment fund
84,742
(7,475)
-
77,267
-
-
-
77,267
117 Project
-
-
-
-
300,000
-
-
300,000
Learning Revolution
-
-
-
-
5,000
(8,734)
11,680
7,946
Men's Shed
-
-
-
-
250
-
-
250
LCC Youth & Community Grant
-
-
-
-
4,600
(630)
-
3,970
ReCite
-
-
-
-
2,500
(1,372)
-
1,128
979,259
(23,364)
(73,219)
882,676
312,350
(10,736)
(61,539)
1,122,751
ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
27
Restricted funds
(Continued)
- 32 -

107 Project

Funding was received from Heritage Lottery Fund for the refurbishment of 107 Great Mersey Street. All refurbishment work is now complete and The Rotunda Heritage and Enterprise Centre opened on 30 August 2013. The Heritage Lottery Fund hold a legal charge over 107 Great Mersey Street for a period of 25 years from October 2011. The restricted fund relating to the 107 project will be released over the remaining period of the legal charge through a transfer in accordance with the grant terms.

DWP Kickstart Gateway

Rotunda became a DWP Kickstart Gateway organisation in January 2021, working with 38 employers to support young people aged 16-24 years into six-month employment positions. Transfers relate to admin fees for operating the scheme and training fees for apprentices taken on by Rotunda.

Refurbishment fund

Funding was received from the Mayoral Fund and The Northern Impact Keyfund Investments for the refurbishment of the Grade II listed building owned by the charity.

1 1 7 Project

Funding was received from Albert Gubay for the refurbishment of 117 Great Mersey Street. The refurbishment project is currently ongoing and the funding will be released through a transfer in accordance with the grant agreements once the work is completed.

Learning Revolution

Learning Revolution is a programme to engage people in the community in various ways i.e., knitting groups/art groups etc. During the year this project has been reclassified as restricted funds and so a transfer has been included to bring in the unspent funds from prior years.

Men's Shed

Men’s Shed is a men’s mental health programme which is user/peer led. Activities range from working in the garden or other tasks such as maintenance/painting.

LCC Youth & Community Grant

LCC Youth and Community grant is a 4 year programme for various community engagement activities. Outcomes are reported to LCC.

ReCite

ReCite is a men’s mental health suicide prevention programme in partnership with the School of Tropical Medicine.

ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 33 -
28
Analysis of net assets between funds
Unrestricted funds
Designated funds
Restricted funds
Total
Unrestricted funds
Designated funds
Restricted funds
Total
2025
2025
2025
2025
2024
2024
2024
2024
£
£
£
£
£
£
£
£
Fund balances at 31 August 2025 are represented by:
Tangible assets
1,902,046
-
830,246
2,732,292
1,858,659
-
805,409
2,664,068
Investments
1
-
-
1
1
-
-
1
Current assets/(liabilities)
375,649
9,980
292,505
678,134
345,317
29,900
77,267
452,484
Long term liabilities
(247,502)
-
-
(247,502)
(266,063)
-
-
(266,063)
2,030,194
9,980
1,122,751
3,162,925
1,937,914
29,900
882,676
2,850,490
ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 34 -
29
Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within one year
8,664
9,864
Between two and five years
444
11,772
9,108
21,636
30
Related party transactions
Remuneration of key management personnel

The remuneration of key management personnel was as follows:

2025
2024
£
£
Aggregate remuneration
155,666
134,203

Included within other debtors is a balance of £65,513 (2024: £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 prepayments is a balance of £201,944 (2024: £nil) which is the balance of funds paid to Rotunda Community Land Trust Limited in advance for the ongoing renovation work of 117 Great Mersey Street as at 31 August 2025.

Also included in debtors is a balance due from subsidiary of £9,377 (2024: £10,062) which is due from Rotunda Enterprises C.I.C., a community interest company of which Ms M Ennis, CEO, is also a director.

31
Company limited by guarantee

Rotunda Limited is incorporated under the Companies Act as a company limited by guarantee. The liability of the members is limited to £1.

ROTUNDA LTD.
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 35 -
32
Cash generated from operations
2025
2024
£
£
Surplus for the year
312,435
38,780
Adjustments for:
Investment income recognised in statement of financial activities
(46,959)
(33,505)
(Gain)/loss on disposal of tangible fixed assets
(477)
95
Depreciation and impairment of tangible fixed assets
72,080
63,030
Movements in working capital:
(Increase)/decrease in stocks
-
501
(Increase) in debtors
(185,138)
(57,772)
Increase in creditors
11,441
16,740
(Decrease)/increase in deferred income
(41,636)
78,545
Cash generated from operations
121,746
106,414
33
Analysis of changes in net funds
At 1 September 2024
Cash flows
At 31 August 2025
£
£
£
Cash at bank and in hand
452,837
10,315
463,152
Loans falling due within one year
(50,583)
-
(50,583)
Loans falling due after more than one year
(266,063)
18,561
(247,502)
136,191
28,876
165,067
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