Somers Town Community Sports Centre Limited Annual Report and Financial Statements
31 July 2025
Company Limited by Guarantee Registration Number 3157703 (England and Wales)
Charity Registration Number 1057305
Contents
## Reports
|Reference and administrative information|1|
|---|---|
|Trustees’ report|2|
|Independent examiner's report|6|
|Financial statements||
|Statement of financial activities|7|
|Balance sheet|8|
|Principal accounting policies|9|
|Notes to the financial statements|11|
|Detailedstatementoffinancialactivities|17|
Somers Town Community Sports Centre Limited
## Reference and administrative information
||||Members|Regent High School (previouslyknown as|
|---|---|---|---|---|
|||||South Camden Community School)|
|||||UCL|
|The|Board|of|Members|G Moore|
|||||J Race|
|||||L Harris — resigned 20 November2025|
|||||E Smee — appointed 20 November 2025|
|||||K Sykes|
|||||C Salton-Brooks|
|||||J Dubber|
|||||ABoikova|
|Company Secretary|S$ To|
|---|---|
|Principal office|University College London Union|
||25 Gordon Street|
||London|
||WC1H OAH|
|Company registration number|3157703|
|Charity registration number|1057305|
|Independent Examiner|Buzzacott Audit LLP|
||130 Wood Street|
||London|
||EC2V 6DL|
|Bankers|Barclays Bank Plc|
||London Corporate Service Centre|
||PO Box 46116|
||London|
||EC4N8WB|
Somers Town Community Sports Centre Limited 1
The Board of Trustees, who are the company directors for the purposes of the Companies Act 2006, present their Annual Report for the year ended 31 July 2025, together with the financial statements for the year. The Board confirms that the latter comply with the requirements of the Charities Act 2011, the Companies Act 2006, the Company’s Memorandum and Articles of Association and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of lreland (FRS102) (effective 1 January 2015). The information on page 1 forms part of this report.
## Reference and administrative details
Somers Town Community Sports Centre Limited is a company limited by guarantee (number 3157703) incorporated on 7 February 1996 and is a registered charity (Charity No: 1057305). The charity is governed by its Memorandum and Articles of Association adopted 7 February 2016.
The trustees and officers who served during the year and up to the date these financial statements were approved are as follows:
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||||||
|---|---|---|---|---|
|UCL|nominees:|K|Sykes|
|J|Dubber|
|C|Salton-Brooks|
|E|Smee|
|A|Boikova|
|Regent High|School|nominees:|G|Moore|
|J|Race|
|Company Secretary|S To|
**----- End of picture text -----**
## Structure, governance and management
Trustees are appointed under mechanisms that allow both Regent High School (RHS) and UCL, as members, to influence the strategy, policies and management of the Sports Centre. Regent High School can appoint up to four trustees. UCL can appoint up to five trustees.
The trustees are not paid for their work as trustees.
## Equal opportunities policy
The Somers Town Community Sports Centre embraces a diverse society, welcomes all people and values their differences. The Somers Town Community Sports Centre recognises that discrimination occurs at all levels in our society. The Somers Town Community Sports Centre is an equal opportunities organisation. No person that comes into contact with the Centre should receive less favourable treatment, be disadvantaged or disadvantage others on the ground of their ethnic group, nationality, sex, gender, sexual orientation or identity, age, disability, marital status, family commitments, political or religious views, spent or irrelevant criminal convictions, trade union activity, or HIV status. The Somers Town Community Sports Centre regards such discrimination as unacceptable and promotes equal opportunities both as an employer and a provider of services.
Somers Town Community Sports Centre Limited 2
## Structure, governance and management (continued)
## Objectives and activities
The Centre was created with the support of the London Borough of Camden, UCL, Students’ Union UCL and South Camden Community School (now Regent High School) to build and operate a sports centre in Somers Town, London NW1, for the benefit of the local community and the students of local schools and University College London (UCL).
The objectives of the Centre are to provide affordable high quality activities and sport and recreation space for training, competition and physical activity for the benefit of the wider community and the students of local schools and UCL.
From 1 April 2011, responsibility for day-to-day centre management and employment of the staff was transferred to Regent High School. Somers Town Community Sports Centre Limited now operates as a landlord and a signed rental agreement is in place with the London Borough of Camden alongside a management agreement with Regent High School. This provides a guaranteed future income stream for the charity with almost matching costs.
## Public benefit
In furtherance of these aims, the Somers Town Community Sports Centre Limited trustees have complied with their duty in s.4 of the Charities Act 2006 to have due regard to the Charity Commission’s published general guidance concerning the operation of the public benefit requirement under that Act.
## Achievements and performance
In order to ensure the continuing charitable objects of the Charity, the trustees have sub-let the Sports Centre back to the London Borough of Camden subject to variations to the original lease and operating agreement, so that there is a continuing availability for use by the School, UCL and the wider community.
The Operating Agreement introduced new arrangements for operating the Sports Hall and adjoining school premises for so long as the sub-lease exists, and during which time the original operating agreement shall be suspended. The trustees continue to have overarching responsibility for charitable use of the Sports Hall, and each year agree the annual and future budgets for on-going and anticipated maintenance prepared by RHS, and to keep under review the operation of the Sports Hall. In June 2024, demonstrating their commitment to financial and environmental sustainability, the trustees worked with a community energy organisation, Power Up North London, to implement a renewable energy scheme for the Somers Town Community Sports Centre. This enables the Centre to significantly cut its carbon emissions, reduce the school and the Centre's electricity bills, and deliver a financial return.
The Centre continues to provide an invaluable resource to Students’ Union UCL Clubs and Societies and all of UCL’s time slots are allocated through the Student Activities team within Students’ Union UCL.
The continuing success of the Centre is based on the excellent work of its full-time staff supported by the London Borough of Camden, RHS and UCL resources.
Somers Town Community Sports Centre Limited 3
## Financial results
The Centre has been funded by rental income and direct financial support from Regent High School who manage the facility on a day-to-day basis. Total income has increased from £68,561 to £75,333. Total expenditure has increased from £100,964 to £104,682.
## Reserves policy
As the operational management of the Sports Centre was transferred to RHS on 1 April 2011, the Board considers their reserve policy to be a depreciation renewal sinking fund in case the day-to-day management responsibility for the Centre passes back if there was to be a failure of the current management arrangements with Regent High School. The Board consider a sufficient level of reserve fund to be £100,000. At the year end the reserves stood at £131,722 (2024: £132,905) and we consider this to be sufficient.
## Future plans
The future objectives of the Centre are to continue providing affordable high-quality activities and sport and recreation space for training, competition and physical activity for the benefit of the wider community and the students of local schools and UCL. The trustees are charged with ensuring that day-to-day management by Regent High School achieves these objectives.
## Statement of trustees’ responsibilities
The trustees (who are also directors of Somers Town Community Sports Centre Limited for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards).
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. 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 judgments 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 charitable company will continue in business.
Somers Town Community Sports Centre Limited 4
## Statement of trustees’ responsibilities (continued)
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions, disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and the provisions of the charity's constitution. 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.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by the trustees and signed on their behalf by:
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Toh (Du LEo
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JOHN DUBBER
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Trustee
Approved by the trustees on:
20 November 2025
Somers Town Community Sports Centre Limited 5
## **FCA**
27 November 2025
## Statement of financial activities (incorporating income and expenditure account) Year to 31 July 2025
|||Unrestricted|Restricted|Total funds|Total funds|
|---|---|---|---|---|---|
|||funds|funds|2025|2024|
||Notes|£|£|£.CE||
|Income and endowments from||||||
|Charitable activities|4|73,946|-|73,946|67,020|
|Investment|3|1,387|-|1,387|1,541|
|Total income||75.333|-|75,333|68,561|
|Expenditure||||||
|Charitable activities|5|76,517|28,165|104,682|100,964|
|Total expenditure||76,517|28,165|104,682|100,964|
|Net income (expenditure) forthe
year|7|(1,184)|(28,165)|(29,349)|(32,403)|
|Net movement in funds for the||||||
|year||(1,184)|(28,165)|(29,349)|(32,403)|
|Funds brought forward at
1 August||132,905|349,723|482,628|515,030|
|Fundscarriedforwardat31July||131,722|321,556|453,278|482,627|
Somers Town Community Sports Centre Limited 7
## Balance sheet 31 July 2025
|||2025|2025|2024|2024|
|---|---|---|---|---|---|
||Notes|£000|£000|£000|£000|
|Fixed assets||||||
|Tangible fixed assets|8||321,556||349,722|
|Investments|9||20,000||20,000|
||||341,556||369,722|
|Current assets||||||
|Debtors|10|400||—_||
|Cash at bank and in hand||114,754||116,085||
|||115,154||116,085||
|Creditors: amounts falling due||||||
|within one year|11|(3,432)||(3,180)||
|Net current assets|||111,722||112,905|
|Total net assets|||453,278||482,627|
|Funds||||||
|Unrestricted funds|12||131,722||132,905|
|Restricted funds|13||321,556||349,722|
|Totalfunds|14||453,278||482,627|
For the year ended 31 July 2025, the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with Section 476.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
These financial statements were approved by the members of the committee and are signed on their behalf by:
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Tah, Dubbs
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## JOHN DUBBER
Trustee
Approved by the trustees on: 20 NOVEMBER 2025
Company registration number: 3157703 (England and Wales)
Somers Town Community Sports Centre Limited 8
## Principal accounting policies Year to 31 July 2025
## Company information
The principal activity of the charity is the provision of sport and recreation facilities in Somers Town, London NW1. The incorporated charity (registered number 3157703 and charity number 1057305) is incorporated and domiciled in the UK. The address of the registered office is University College London Union, 25 Gordon Street, London, WC1H OAH.
## Basis of preparation
The financial statements have been prepared in accordance with the Charities SORP (FRS102) applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
## Going concern
The Trustees consider that there is a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future and, for this reason, they continue to adopt the going concern basis in preparing the annual financial statements. The Trustees have made this assessment in respect to a period of at least one year from the date of approval of these financial statements.
## Critical accounting judgements and key sources of estimation uncertainty
In the application of the charity’s accounting policies, trustees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimation and underlying 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 on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects the current and future periods.
## Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## Income
All incoming resources are included in the statement of financial activities when the charity is entitled to the income, the income is probable, and the amount can be quantified with reasonable accuracy.
## Expenditure
## Expenditure is recognised on an accrual basis as each liability is incurred.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Somers Town Community Sports Centre Limited 9
## Principal accounting policies Year to 31 July 2025
## Fund accounting
Unrestricted funds held by the charity are those which can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds are where specific conditions are imposed by the donor which restricts the use of unspent funds. The income is taken directly to the relevant restricted funds.
## Restricted funds
The initial capital grants received to enable construction of the Centre were included as restricted funds within the Charity's reserves. The depreciation on the Centre is debited to the restricted fund.
## Depreciation
Capital expenditure in excess of £1,000 is capitalised at cost within fixed assets. Expenditure less than this amount is charged to the statement of financial activities in the year it is incurred.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
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Plant and machinery 4%
Fixtures, fittings and equipment 20% to 33% per annum
Leasehold buildings 2.5% per annum
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## Taxation
No provision is made in these accounts for corporation tax as the charity is exempt from such taxes as a result of its charitable status.
## Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.
## Creditors and provisions
Creditors and provisions are recognised when the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
Somers Town Community Sports Centre Limited 10
## Notes to the financial statements Year to 31 July 2025
## 3 Investment income
|Investment income|||
|---|---|---|
||2025|2024|
|EE|||
|Bank interest income|987|1,541|
|Investment Income|400|-|
|Totalunrestrictedfunds|1,387|1,541|
4 Income from charitable activities
|||2025|2024|
|---|---|---|---|
|aEEE||||
|Operation of Sports Centre||||
|Sundry income||-|-|
|Rental income||73,946|67,020|
|Total unrestricted funds||73,946|67,020|
|Charitable activities||||
||Unrestricted|Restricted|Total|
||funds|Funds|2025|
|weEEE||||
|Operating of Sports Centre||||
|Lease running costs of Sports Centre|76,517|28,165|104,682|
||76,517|28,165|104,682|
||Unrestricted|Restricted|Total|
||funds|Funds|2024|
|EEEE||||
|Operating ofSports Centre||||
|Lease running costs ofSports Centre|67,763|33,201|100,964|
||67,763|33,201|100,964|
## 5 Charitable activities
Costs incurred within the above can be further analysed as follows:
||2025|2024|
|---|---|---|
|EE|||
|Depreciation|28,165|33,201|
|Lease costs|70,249|63,669|
|Support costs|6,268|4,094|
||104,682|100,964|
Support costs include the following governance costs:
||2025|2024|
|---|---|---|
|EE|||
|Independent examiner's fees|3,432|3,680|
|Tax Services|2,400|-|
|Legal and professional|74|53|
|BankCharges|362|361|
Somers Town Community Sports Centre Limited 11
Notes to the financial statements Year to 31 July 2025
a 268 4,094
## 5 Charitable activities (continued)
No charge is made for administration services provided by University College London or University College London Union. These services are not reflected in these financial statements as the value of them cannot be easily quantified.
## 6 Trustee remuneration
No directors received remuneration or reimbursement of expenses from the company (2024: Enil).
## 7 Net expenditure for the year
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|||||
|---|---|---|---|
|2025|2024|
|EE|
|Depreciation|28,165|33,201|
|Independent|examination|3,432|3,680|
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## 8 Tangible fixed assets
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|||||||||
|---|---|---|---|---|---|---|---|
|Fixtures,|
|Plant|and|fittings|&|Leasehold|
|machinery|equipment|Buildings|Total|
|a|
|Cost|
|At|1|August|2024|199,822|108,342|1,166,969|1,475,133|
|Additions|-|-|-|-|
|At|31|July|2025|199,822|108,342|1,166,969|1,475,133|
|Depreciation|
|At|1|August|2024|199,822|108,342|817,245|1,125,410|
|Charge|for|the|year|-|-|28,165|28,165|
|At|31|July|2025|199,822|108,342|845,410|1,153,576|
|Net|book|value|
|At|31|July|2025|-|-|321,556|321,556|
|At|31|July|2024|-|-|349,722|349,722|
|Investments|
|Unlisted|
|Cash|investment|Total|
|aE|EE|
|Cost|
|At|1|August|2024|-|20,000|20,000|
|Additions:|Shares|-|-|-|
|Revaluation|in|the|year|-|-|:|
|At|31|July|2025|-|20,000|20,000|
**----- End of picture text -----**
9 Investments
Somers Town Community Sports Centre Limited 12
Notes to the financial statements Year to 31 July 2025
## 10 Debtors
||2025|2024|
|---|---|---|
|EE|||
|Accrued Revenue|400|-|
||400|-|
|Creditors: amountsfalling due within one year|||
||2025|2024|
|i,LCE|LCECE|CE|
|Accruals and deferred income|3,432|3,180|
||3,432|3,180|
## 11 Creditors: amounts falling due within one year
## 12 Unrestricted funds
|Unrestricted funds||||||
|---|---|---|---|---|---|
||Balance at||||Balance at|
||1 August||||31 July|
||2024|Income|Expenditure|Transfers|2025|
|a||||||
|Building and equipment reserve|132,905|75,333|(76,517)|-|131,722|
||132,905|75,333|(76,517)|-|131,722|
||Balance at||||Balance at|
||1 August||||37 July|
||2023|Income|Expenditure|Transfers|2024|
|EEEEE||||||
|Building andequipment reserve|132,107|68,561|(67,763)|-|132,905|
||132,107|68.561|(67,763)|-|132,905|
The Building and Equipment reserve has been created in accordance with the terms of the operating agreement in order that funds are available for the Centre's contingent liability to replace the building and equipment.
|13 Restricted funds|Balance at||||Balance at|
|---|---|---|---|---|---|
||1 August||||31 July|
||2024|Income|Expenditure|Transfers|2025|
|a||||||
|Deferred capital grant|349,723|-|(28,165)|:|321,556|
||349,723|-|(28,165)||321,556|
||Balance at||||Balance at|
||1 August||||31 July|
||2023|Income|Expenditure|Transfers|2024|
|aEEEEE||||||
|Deferredcapitalgrant|382,924|-|(33,201)|-|349,723|
||382,924|-|(33,201)|-|349,723|
Somers Town Community Sports Centre Limited 13
## Notes to the financial statements Year to 31 July 2025
## 13 Restricted funds (continued)
Capital grants were made by the University College London Union and the Foundation for Sports and Arts to the Centre on incorporation to fund the purchase of the Sports Centre and are included in a restricted fund.
## 14 Analysis of net assets (between restricted and unrestricted funds)
||Unrestricted|Restricted|Total|
|---|---|---|---|
||funds|funds|2025|
|EEE||||
|Fixed assets|20,000|321,556|341,556|
|Current assets|115,154|-|115,154|
|Creditors: amounts due within one year|(3,432)|-|(3,432)|
||131,722|321,556|453,278|
||Unrestricted|—_Restricted|Total|
||funds|funds|2024|
|EEE||||
|Fixed assets|20,000|349,722|369,722|
|Currentassets|116,085|-|116,085|
|Creditors: amounts due within oneyear|(3,
180)|-|(3,180)|
||132,905|349,722|482,627|
## 15 Related party transactions
University College London (UCL) and Regent High School (RHS) are related parties as members of the Centre.
## Regent High School
The Centre made sales totalling £73,946 (2024: £67,020) to the school in the year.
The Centre made purchases totalling £70,249 (2024: £63,669) from the school during the year. The school owed ENil (2024: ENil) to the Centre at 31 July 2025.
The Centre owed £Nil (2024: ENil) to UCLU at 31 July 2025.
## Trustees
The Trustees received no remuneration in respect of their services to the Centre, nor any reimbursement of expenses during the year.
## 16 Members’ liability
The Centre has no subscribed share capital and in the event of the company being wound up, the members, UCL and RHS, will be liable for £1 each. in the event of a winding up, the remaining assets of the Centre must be transferred to another charity with a similar charitable purpose and may not be distributed to the members.
Somers Town Community Sports Centre Limited 14
## Notes to the financial statements Year to 31 July 2025
## 17 Ultimate parent company
The members of the Company are University College London (UCL) and Regent High School (RHS). UCL however has the power to appoint five trustees and is therefore deemed to be the Company's ultimate parent undertaking.
The consolidated Financial Statements of UCL, which are the only consolidated financial statements, which incorporate the results of the Centre, may be obtained from:
Director of Finance
University College London Gower Street London
WC1E 6BT
## 18 Financial instruments
||2025|2024|
|---|---|---|
|EE|||
|Financial assets measured at amortised cost|115,154|116,085|
|Financialliabilitiesmeasuredatamortisedcost|(3,432)|(3,180)|
The company’s income, expense, gains and losses in respect of financial instruments are summarised below:
||2025|2024|
|---|---|---|
|EE|||
|Financialassetsmeasuredatamortisedcost|1,387|1,541|
Financial assets measured at amortised cost comprise trade debtors, accrued income and cash equivalents.
Financial liabilities measured at amortised cost comprise other creditors and accruals.
Somers Town Community Sports Centre Limited 15
## Notes to the financial statements Year to 31 July 2025
## 19 Comparative statement of financial activities
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||||||||
|---|---|---|---|---|---|---|
|Unrestricted|Restricted|Total|funds|
|funds|funds|2024|
|Notes|£|£|£|
|Income|and endowments|from|
|Charitable|activities|4|67,020|-|67,020|
|Investment|3|1,541|-|1,541|
|Total income|68,561|-|68,561|
|Expenditure|
|Charitable|activities|5|67,763|33,201|100,964|
|Total expenditure|67,763|33,201|100,964|
|Net income|(expenditure)|for the year|7|798|(33,201)|(32,403)|
|Net movement|in|funds|for the year|798|(33,201)|(32,403)|
|Funds brought forward at|1|August|132,107|382,924|515,030|
|Funds|carried forward at 31|July|132,905|349,723|482,627|
**----- End of picture text -----**
Somers Town Community Sports Centre Limited 16
## Detailed statement of financial activities Year to 31 July 2025
## The following does not form part of the statutory financial statements
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|||||||
|---|---|---|---|---|---|
|2025|2025|2024|2024|
|EEE|
|Income|
|Investment|Income|1,387|1,541|
|Sundry|income|-|-|
|Lease|income|from|LBC|73,946|67,020|
|Total|income|75,333|68,561|
|Charitable|activities|
|Depreciation|of|fixed|assets|(28,165)|(33,201)|
|Lease|charges|(70,249)|(63,669)|
|(98,414)|(96,870)|
|Governance|costs|
|Legal|&|Professional|fees|(74)|(53)|
|Independent|examination|fees|(3,432)|(3,680)|
|Tax|Services|(2,400)|-|
|Bank|Charges|(362)|(361)|
|(6,268)|(4,094)|
|Total|expenditure|(104,682)|(100,964)|
|Net|expenditure|for the|year|(29,349)|(32,403)|
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Somers Town Community Sports Centre Limited 17