Company registration number.. 05090173 Charity registration number.. 1107343 Crystal Palace Community Trust Limited IA cornpany limited by Euaranteel Annual Report and Financial Statements for the Ye3r Ended 31 March 2025 Fleld Sullivan Limited 9 Hare & Billet Road Blèckheath SE3 ORB
Crystal Palace Community Trust Limited Contents Reference and Administrative Details Trustees, Report 2to9 Statement of Trustees, Responsibilities io Independent Auditors, Report Ilto14 Statement of Financial Activities 15to16 Balance Sheet 17 Statement of Cash Flows 18 Notes to the Financi31 Statements 19to35
Crystal Palace Community Trust Limited Reference and Administrative Details chairperson Mark Painter charity Registration Number 1107343 Company Registration Number 05090173 Registered Office Anerley Town Hall Anerley Road London SE20 88D Auditor Field Sullivan Limited 9 Hare & Billet Road Blackheath SE3 ORB Bankers HSBC Bromley High Street 184 Bromley High Street Bromley Kent BRI IHL Page I
Crystal Pala¢e Community Trust Limited Trustees, Report The trustees, who are directors for the purposes of company law, present the annual report together with the financial Statements and 3udilor5' report of the charitable company for the year ended 31 March 2025. List of Crystal Palace Community Trust Trustees Mark Painter- Chair Eileen Goulding- Treasurer Len Blomstrand - Vice Chair Angela Wikins- Company Secretary Christopher Harrison Raymond Bascombe Non-votlng Local Authorlty Nominees Councilor Ruth McGregor (Bromley Representative) Councilor Catherine Rose Isouthwark Representative) Staff Members Trust Manager- Ben Harding Trust Development Manager- Elaine Harrison Finance and Risk Officer- John Gazeley Marketing & Community Engagement Officer- Andre Thorne Admin Officer-joy H3nnon Admin Officer- Asia Szalinska Lead Youth Worker- Maria Ako Support Youth Workers- Odette Ukando, Simone Boothe, Richard Davis. Sar3h Kerchoff and Rikki, Caiger Caretakers- Lee Brace & Richard Hicks Weekend Caretaker5 Joseph Boateng, Alfred Petite, Mikhail Preddie, Samuel Adjei and Richard Hicks Banker5: HSBC- 184 High Street, Bromley, Kent, BRI IHE Auditors: Field Sullivan Chartered Accountants- Blackheath SE3 ORB Page 2
Crystal Palace Community Trust Limited Trustees, Report Chair's keport 202412025 The Crystal Palace Community Trust ICPCTI continued this year to be a provider of quality and well used services from within Anerley Town Hall I'ATH'I, its base, and further af ield. This was down to the hard work and industry from all of those who work or volunteer for us. Flnancially we were able to increase our unrestricted reserves held by £20k, to £135k, and we have £43k restricted reserves carried forward into next year to support the Trust Development Manager post and activities for the over 60s. We were also able to do this whilst Investing £llk of our own money into the running of the Youth Club. The trust has also made provisions for £282k repairs to Anerley Town Hall over the next 2 years, including a EIOQk window replacement programme. £14k was Invested this year. Now 8 years into a 40-year lease, we remain proud of our achievements over this time Including Investing over £800,000 Into the iconic building from within which we manage a highly popular Business Centre I'ABC'I with occupation levels now at IOO°A, the Pineapple Luncheon Club continue to be based here and meet every Thursday, the twice weekly Youth Club remains thriving, and life celebration events occur nearly every weekend, making ATH an ideal destination for Weddings, Birthday, Christenings et al. Additionally, things like the twice weekly Citizens Advice Sessions often provide a lifeline for people desperate for help and advice and who don't know where to go. External Grant funding continues to be difficult to acquire, In the aftermath of Covid. but Elaine Harrison, or Trust Development Manager has worked her magic again and secured for the next 3 years a substantial element of the cost of running the twice weekly Youth club. As an approved provider of holiday activity schemes the Trust is proud to have supported more than 150 young people over the past year, the vast majorlty belng on free school meals. Services for older people continue and we are proud to have helped over 200 from services provided from the Town Hall CPCT contlnues to build on the work that the new team started last year, following a wholesale change of staff In 2023. This includes a new electronic booking system for hall hiring, which although in its infancy is proving useful. So thanks to Ben, Joy, Asia and Andre for their continued efforts, caretakers Lee and Rlchard, weekend caretal<ers Alfred, Joseph, Samuel and Mikhail, and all of the youth workers led by Maria .Looking Forward we are hopeful CPCT can continue to make Anerley Town Hall a vibrant and active local hub, providing affordable services and facilities helping the Trust deliver on its vision of allowing all local people to reach their full potential. Finally, I would like to say a big thank you to my fellow trustees, and volunteers for their time and efforts in ensuring CPCT provides meaningful benefits for local people now and well into the future Page 3
Crystal Palace Community Trust Limited Trustees, Report Trustees, Report for 2024125 Working with Young People The youth club has required significant funding through reserves this financial year, due to the lack of 3 large grant as in previous years. We have however negotiated a grant from Clarion housing to support our youth Services and other small grants, and have received a small grant from Propel. via Bromley Children and Familie5 forum, which funds some mentoring work. Youth provision is thriving; attendances are often over 45 children and young people. Communication with families is good and parents contact youth work staff for support with issues impacting their children's lives. We have a solid, consistent youth work team. 107 young people attended the youth club or associated service5 in the year and 82%1881 of these were re51ding in the borough of Bromley We remain approved provider5 for the Holiday Activities and Food Programme IHAAFI funded via 8romley Council by the Department of Education. The scheme highlights 3 recurring issue, which is the need for school holiday provision for children and young people. We now offer a total of 6 weeks IHAAFI provision, 4 in the sumffler and one each at Easter and chrlstmas. We are consistently oversubscribed. The number of young people wSth additional needs is increasing and we are dealing with some extremes of behaviour within a universal setting, which is a tribute to our staff and the relationships built with parentlcarers. Despite ratlos of i tD 8 these behaviours can create staffing difficulties.154 individuals attended the programmes over the course of the year and 84/011301 were from the borough of Bromley, with nearly 80/ being in receipt of free school meal5. In January a new Senior Youth Work M3nager Practitioner, Maria Ako, came into post, replacing James Harrison-Se3rs. She has brought with her a new approach, new ideas and a different management style, Central to her work has been the development of both parents Support through a series of parenting meetings (funded by Clarion Housing) and the creation of a 'YoLJng Leaders, group, providing a conduit for older young people as our current age range is 8 to 16, but there is a clear need for work with older young people. Through this work we intend to develop social action projects, provide training opportunities, up5kill young people and support them through their journey into adulthood. Anerley Business Centre, 123 Anerley and Community Halls This year has seen Anerley Town Hall maintain Sts place as 3 focal point of life In the local area. The business centre is now full, the community hall space has a big life event being celebrated most weekends and various community activities during the week, and 123 Anerley hosts a vibrant twice weekly youth club, alongside much needed and free Citizens and Advice Bureau sessions, amongst other thing5 The Business Centre occupancy has been at 100% for most of 2024125. The concerns that we had after Covid regarding the long-term effect on how people worked, especially for small businesses has so far not transpired and we are optimistic going forward that we have a good product to offer local people. Page 4
Crystal Palace Community Trust Limited Trustees, Report During the week over the year we have offered from the building: Citiiens Advice 8ureau sessions, Computer classes, BoxinE, Salsa Dancing, Adult and Children's Art classes, Karate sessions, Bump and 8aby club, Kettlebell sessions Diabetes prevention5 sessions Nail clipping sessions. Yoga A Warm Hub for elders I Seaside Day trips 5 Rhythms Dance sessions The Pineapple Caribbean Luncheon Club, Eagles over 50s activities club Choir Sessions and the aforementioned Youth club We continue to be an approved provider of school holiday schemes for disadvantaged familles, and we held 3 4 week 16 d3y event135t summer that attracted over 100 kids. We will be doing something similar this year. Operationally this ye3r has seem the bedding in of a new team of Ben, loy and Asia who have made sure that there has been a professional and reliable service to building user5 and will look forward to further improvements in the years to come, During the year we were able to invest £14k into the building including re-tarmacking the car park, some window replacements and upgrades to the outside of the building. We have £IIOk investment plan for 2024125 Trust Development The outlook for funding remains gloomy. There is very little available for universal, open access provision, which is primarily what we deliver, and many funders will not support charitable activities where they feel that these are a statutory responsibility. In this difficult situation we have not been able to increase youth provision as we would wish, but we have maintained it and provided some additionality- our mentoring provision has seen up to 30 young people receive support, we have increased our curriculum offer by expanding the range of activitie5. We have engendered support in small ways contributions from Tesco and a small grant from Waitrose, as well as SUPPDrt frorn Formula i has meant we've been able to take the young people out for a meal,. open a tuck shop,. offer independent living ski115 sessions, e.g. healthy eating, cookery, budgetlngi Page 5
Crystal Palace Community Trust Limited Trustees, Report The focus this year ha5 been on low level development such as that described above although support Is in the hundreds r3ther than thousands, we have leveraged significant sums as well as resources. We continue to maintain and develop our partnerships, acrD55 sectors. The local authority youth service continues to use our space to accommodate their youth provision making CPCT a central point for youth services in the Area. Our elders, groups are essential to the 200+ older people who use them as there is little if any other provision especially as day centres rem3in closed, and any services provided rely on the voluntary sectDr. We acquired Innovation Fund funding of over £12K which enables us to further develop our work with elders, offering trips out of the area to place5 of interest with the opportunity to meet and make new friends, reduce isolation and improve mental and physical health. We were finally successful in obtaining a grant from City Bridge Trust for Teplacement of our windows throughout the building 1£69KI and made a successful application for funds from Garfield Weston to fund the Trust Development MBnager function for 2 years1£60KI. We would tentatively suggest things are beginning to look better although there are still enormous hurdles to overcome if we are to meet the increasing need in this èrea. Commenta on the Financial Positlon over the ear Over311, our unrestricted reserves increased from positive £11Sk to positive E135k (including a £14k reductlon in the allowance for provisions Inow £282kl for repairs to ATHI, while restricted reserves reduced from positive £49k to positive £43k. The reduction to restricted reserves marks the current difficulty in securing long term grants but we are hoping for better things in 202516. Of the £43k, £30k is funding to support the Trust Development Manager post over the next 2 year51£30k per year, 1st year received only), which means the trust will not have to fund it from unrestricted funds Total income received from Anerley Town Hall'5 Busine55 Centre office hire was £260k Ivs £238k in the prior rinancial yearl and £154k from the community space hire Ivs £179k in the previou5 yearl. For 123 Anerley Iformer old library) we achieved hire income of £44k as opposed to E29k in the previous year. We were able to keep occupation of the 25 offices in the Anerley Business Centre at a high level, ending the year with IDOYO of desks occupied. In the year the Trust invested £14k into improving the buildings fabric including retarmacking large parts of the car park. £IIOk has been provided in 2025126 as we are completing a programme of window upgrades that will cost close to £IOOk CPCT received in total £98k in external grant funding to support activities as follows.. £2.4k in public donations £44k Anerley Town Hall Youth Support.1£33k from LB Bromley and, £9k from Clarion and £2k from Jack Petchey Foundation) £30k from Garfield Weston carried forward into next year to 5UPPOrt the keyTrust Development Manager post £6k for intergeneration projects from LB Bromley £1Sk for work with elders from LB Bromley £0.6k other CPCT is grateful to all of the above donors for having the bellef and trust in us to deliver services that improve the lives of local people. Page 6
Crystal Palace Community Trust Limited Trustees, Report CPCT'S fundSng CPCT is currently financed 6y a variety of different funder5 and income streams which mixes the trading income from space hire at Anerley Town Hall supportlng our core business, alongside other funding streams to 5UPPOrt prDjects that have a tangible social benefit, for instance our twice weekly youth club. We have attempted to keep abreast of changes which may affect how CPCT manages to sustain current levels of project delivery and increase the level of funding needed for work planned for the future. CPCT pSans its fundraising in advance having a minimum 24-month view of its cash flow. Typically, it can take up to 12 months to secure new funding from initial research through the application process to receiving the first Payment. CPCT is funded from sever31 different sources that may place geographical and other restrictions on where and how funding can be spent. Public Benefit The Trustees have considered the Trust's activities and 2chievement5 for 2024125 and Its plans for 2025126 against the Public Benefit Guidance issued by the Charity Commission. They agreed that the Trust's projects and work carried out in the local community as described elsewhere in this report demonstrate the substantial benefits derived by the public in the areas covered by the Trust. Reserves Policy Crysta5 Palace Community Trust needs reserves to.. Meet contractual liabilities should the organisation have to close. Th15 includes redundancy pay, amounts due to creditors and commitments under leases, such as rent and building repairs and payments received for future space hires that may not be able to be honoured. Meet unexpected costs like major building repairs. the breakdown of essential office equipment, cover staff for illness, maternity leave, parental leave, redundancy and legal costs defending the charit¢5 interests. Replace equipment 35 It wears out, ensuring that the charity can continue to provide a stable and good quality Service to those who need it. Provide working capital when funding is paid in arrears and place the charity in a position where it could bid for such external funding. External grant funding often has certain restrictions, which means that by law it must be held rin restricted reserve5 until it 15 spent in line with the funding agreement and accounted for appropriately. A prudent level of reserves Following the stark impact of CDvld related social restrictions on our main trading income streams, a revised level of 5 months to 7 months of core annual operating costs was lin 201211 appropriate at the time. Following the economic downturn, the global socio-economic picture and in line with the understood good practice in our sector we are now amending the level of reserves to 3 to 6 months of core annual operating costs. The trustees consider this revised level of reserves to remain sufficient to provide flexibility to bridge temporary differences in working capital and will allow CPCT to operate under emergencies, such as a pandernlc, whilst specific changes are implemented. The funding for provision for dilapldations for ATH building is expected to be met over the next 2 years from income from normal business activities, external grants and donations, and where needed from reserves. The amount of investment needed is consistent with the investments made into ATH building over the previous 8 years Page 7
Crystal Palace Community Trust Limited Trustees, Report Establishing and maintaining a prudent level of reserves cpcr aims to ordinarily have reserves in the range of 3 to 6 months of curient annu31 operating expenditure. In the event of reserves dipping below the target CPCT will aim lo restore the reserves to at least 3 months of annual expenditure over the next three year5. This could be achieved by increased fund raising, Increasing earned income or reducing expenditure. If reserves exceed 6 months of annual expenditure CPCT will consider this in the light of the likely expenditure over the next two years against secured income, and any shortfall that will require external funding Bringing actual reserves into line with the policy The unrestricted reserves held at 3113125 are £135k and have been calculated to Include a provision of £282k for spend on the improving the building's internal and external fabric over the next 2 years to bring it back to what the lease requires to be 'reasDnable" condition. It should be noted that currently120251 CPCT expect5 to be able to raise £40k per year through its norm21 business activities towards this cost, and therefore should only need to use £202k of these funds over the next 2 years11£282k less 2 x £40kl effectively bringing the avai13ble unrestricted fund5 to £215k1£135k + £80kl. This c3lculation assumes that rent is to be paid to Bromley* which is currently being negotiated.. The trustees expect that, in 2025126, overall earned income will remain at a level con51Stent to the previous year documented here, and that rate of operating costs increase is likely to follow a Similar pattern Monitoring and reviewing of reserves policy The trustees will consider current CDSts of closure and examlne the level of reserves each year when setting the following yearfs budget. This reserves policy will be reviewed at a minimum every two years. Risk Assessment The Board of Trustees has conducted its own review of the major risks to which the charity 15 exposed, and system5 and measures put in p13ce to mitigate those risks. External risks to the continuation of external grant funding have led to the development of a re-worked strategic plan along5Ide an updated fundraising strategy which will allow for diversification of funding and activities. Internal risks are minimi5ed by the implementation of procedure5 for authorisation of all transactions and projects and to ensure con51Stent quality of delivery for all operational aspects of the charity. These procedures are regularly reviewed to ensure that they still meet the needs of the charity. For propriety and transparency, the trust intends to continue to have Its annual accounts externally audited, which is currently beyond the statutory requirement. Provision of information to auditors In accordance with company law, the companty5 director5 CDnfirm that, so far as they are aware, there is no relevant audit information of which the company's auditors are unaware. Also, as the directors of the companv, they have taken all the steps that they ought to have taken in order to make thernselves aware of any relevant audit information and to establish that the company's auditors are also aware of that information. Page 8
Crystal Palace Community Trust Limited Trustees, Report Membership & Election of officers All members will have an opportunity to attend a general meeting which is held annually to revlew the business of the Trust and approve its accounts. To undertake the business of the Trust, the membership, at the Annual General Meeting, will appoint a Board of Directors of the Trust. This will comprlse of up to 20 representatives as follows.. 9 representatives of community organisations that are members of the Trust elected by the AGM * 3 individual members elected by the AGM* 3 persons elected from amongst the business members 5 persons, one from each local authority that is invited to nominate members of the 8oard. A third of the Board elected in this way wlll retire annuallv Other Board member5 wi15 be nominated and appointed on an annu31 basis. The Chair, Vice-chair, Secretary and Treasurer will be elected by the Board from amongst the duly appointed Trustees, at its first meeting following the AGM. At present the Board has 6 trustees and a representative from Bromley. The Board of Directors meet5 bi-monthly. It is the major decision taking and policy-formulating body of the Trust. Its main functions are.. To set an overall business strategy and monitor and review performance and achievement To establish a financial plan and budget and review it regularly To effectively review and manage risk within the organisation To deal with membership matters and staffing appointments To ensure compliance with all of the Trust'5 contractual and governance obligations To consider all legal matter5 and ensure that the Trust's responsibilities are properly met To delegate detailed consideration of matters to working and focus groups Receive reports and make recommendations back. Approved by the man3gement committee on the 15108125 and signed on its behalf by-. Mark Painter- chair, Crystal Palace Community Trust Dated.. Page 9
Crystal Palace Community Trust Limited Statement of Trustees, Responsibilities The trustees Iwho are also the director5 of Crystal Palace Community Trust Limited for the purposes of company lawl 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), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requlres the trustees to prepare financlal statements for each financial year. Under company law the trustees must not approve the financial statements unless they are 58tisfied that they give a true and fair view Df the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policie5 and apply them con51Stently,' observe the methods and principles in the Charities SORP,. make judgements and estimates that are reasonable and prudent.. state whether applicable accounting standards, comprising FRS 102 have been followed, subject to anv 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. The trustees are responsible for keeping proper accounting records that can 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. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the ch3ritable company'5 website. Legislation governins the prepar3tion and dissemination of financial statements may dlffer from legislation in other jurisdictions. This report has been prepared in accordance with the small companies regime under the Companies Act 2006. Approve by the trust f the charity on23August 2025 and signed on its behalf by.. Mark Painter Chairman and trustee Page 10
Crystal Palace Community Trust Limited Independent Auditor's Report to the Members of Crystal Palace Community Trust Limited Opinlon We have audited the financial statements of Crystal Palace Community Trust Limited (the 'charity'l for the year ended 31 March 2025, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statement5, including 3 summary of significant accounting policies. The financial reporting framework that has been applled in their preparation is United Kingdom Accounting Standards, comprising Charities SORP FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and applicable law (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the State of the charity's affairs as at 31 March 2025 and of its incoming resource5 arLd application of resources, including its income and expenditure, for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and 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 IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statement5 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 Ethica standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We belleve that the audit evidence we have obtained is sufficient and appropriate to provide 3 basis for our oplnion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the tru5tee5 use of the going concern basis of accounting in the preparation of the financial statements15 appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to event5 or conditions that, individually or collectively, may c35t significant doubt on the charity's ability to continue as a going concern for a period of at least twelve month5 from when the original financial statements were authorised for issue. Our responsibilitie5 and the responsibilities of the trustees with respect to going concern are described in the relevant Sections of this report. Other informatlon The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. 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. Page 11
Crystal Palace Community Trust Limited Independent Auditor's Report to the Members of Crystal Palace Community Trust Limited In connection with our audit of the financial statements. 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 audit or otherwise appears to be materially mi5Stated. If we identify such material inconsistencie5 or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there 15 a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinion on other matter prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees, Report for the financial year for which the financial statement5 are prepared is consistent with the financial 5tatements,- and the Trustees, Report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustee5' Report. We have nothing to report in respect of the following matters where 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. Responsibillties of trustees As explained more fully in the Statement of Tru5tees' Responsibilities Iset out on page 101, the trustees are responsible for the preparation of the financi31 statements and for being satisfied that they give a true and falr 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 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 charity or to cease operations, or have no realistic alternative but to do so. Page 12
Crystal Palace Community Trust Limited Independent Auditor's Report to the Members of Crystal Palace Community Trust Limited 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 frorn 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 IUKI will always detect a material misstatement when It exists. Misstatements can arise frorn fraud or error and are considered material if, individu311y or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedure5 are capable of detecting irregularities, including fraud is detailed below.. Discussions were held with the management committee with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. The following laws and regulation5 were identified as being of significance to the entity.. Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, Companies Act 2006, and The Charities Act 2011. It is considered that the law5 and regulations for which non-compliance may be fundamental to the operating aspects of the business ar to avoid material penalty include complying with the lease obligations for Anerley Town Hall. Audit procedures undertaken in response to the potential risks relating to irregularitie5 (which Include fraud and non-compliance with laws and regulations) comprised of: inquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litlgation or claims,. inspection of relevant legal correspondence,. review of board miriutes,. testing the appropriatenes5 of entries in the nominal ledger, including journal entries,. reviewing transactions around the end of the reporting period,. and the performance of analytical procedures to identify unexpected movements in account balances which may be indicative of fraud. No instances of material non-compliance were Identified. However, the Ilkelihood of detecting irregularities, including fraud, is Ilrnited by the Snherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there 15 an unavoidable risk that material misstatements m3y not be detected, even though the audit has been planned and performed in accordance with ISAS IUKI. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. https'./lwww.frc.orE.uk/3uditorsresponsibilities. This description forms p3rt of our auditor's report. Page 13
Crystal Palace Community Trust Limited Independent Auditor's Report to the Members of Crystal Palace Community Trust Limited Use of our report This report is made 501ely to the charitable company's trustees, as a body, in accordance with chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken 50 that we might state to the charity's trustees 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 its trustees as a body, for our audit work, for this report, or for the opinions we have formed. Tim Sullivan FCA (Senior Statutory Auditor) For and on behalf of Field Sullivan Limited, Statutory Auditor 9 Hare & 8illet Road Blackhe3th SE2 ORB a7. August 2025 Page 14
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Crystal Palace Community Trust Limited Statement of Financial Activities for the Year Ended 31 March 2025 {Including Income and Expenditure Account and Statement of Total Recogni5ed Gains and Losses) All of the charity's activities derive frorn continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 20. The notes on pages 19 to 35 form an integral part of these financial statements. Page 16
Crystal Palace Community Trust Limited (Registration number: 05090173) Balance Sheet as at 31 March 2025 2025 2024 Note Fixed assets Tangible assets Inve5tmen15 13 2.824 114,507 7,585 119,580 14 117,331 127,165 Current assets Debtors 15 41,634 492,545 4,716 525,407 Cash at bank and in hand 16 S34,179 530,123 Creditors.. An)ounts falling due within one year 17 1191,4241 1196,6021 Net current asset5 342,755 333,521 Total 3S5els less current liabilltles 460,086 460,686 Provisions 19 1282,4081 1296,3651 Net assets 177,678 164,321 Funds of the charlty: Restrlcted Income funds Restricted funds 42,309 48,864 Unreslricted income funds Unrestrlcted fund5 135,369 115,457 Total funds 20 177,678 164,321 The financial stateme 2025 nd signed on on pages IS to 35 were approved by the trustees, and authori5ed for issue onAUguSt f by.. Mark Painter Chairperson and trustee The notes on pages 19 to 35 form an integral part of these flnancial statements. Page 17
Crystal Palace CommunityTru5t Limited Statement of Cash Flows for the Year Ended 31 March 2025 2025 2024 Note Cash flows from operating activities Net cash income 13,357 82,079 Adjustments to cash flows from non-cash items Depreciation Investment income Revaluation of investments 6,182 18,8091 5,076 6,149 16,4311 110,6981 15,806 71,099 Working capital adjustment5 Increase in debtors 15 IDecreasel/increase in creditors Decrease in provisions Increase/ldecreasel in deferred Income 136,9181 15,2061 113,9571 28 12,2661 15,950 1130,5371 113,7111 17 19 Net cash flows from operating activities 140,2471 159,4651 Cash flows from investing activities Interest receivable and similar income Purchase of tangible fixed assets 8,809 11,4241 6,431 15,6291 13 Net cash flows from investing activities 7,385 802 Net decrease in cash and cash equivalents 132,8621 158,6631 Cash and cash equivalents at l April Cash and cash equivalents at 31 March 525,407 584,070 492,545 525,407 The note5 on pages 19 to 35 form an integral part of these financial statements. Page 18
Crystal Palace Community Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2025 I Charlty status The eharity is limited by guarantee, incorporated in , and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The address of it5 registered office is.. Anerley Town Hall Anerley Road London SE208BD These financial statements were authori5ed for issue by the trustees on23August 2025. 2 Accounting policies Summary of significant accoLtnting pollcies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented. unles5 Otherwise stated. Statement of compliance The fin3ncial statements have been prepared in accordance with Accounting and Reportlng by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffertive I january 20191 (charities SORP IFRS 1021 Second edition October 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. They also comply with the Companies Act 2006 and Charities Act 2011. Basls of preparation Crystal Palace Community Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabillties are initi311y recognised at historical cost or transaction value unless otherwise stated In the relevant accounting Policy notes. Page 19
Crystal Palace Community Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2025 Judgements and key sour¢es of estimation uncertainty In the application of the charity's accounting policies, the directors are required to make jLJdgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimate5 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 period5 in which the estimate is revised where revisions affects only that period, or in the period of the revislon and future periods where the revisions affects both current and future periods. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.. Repair works provision for Anerley Town Hall Under the term5 of the lease for Anerley Town Hall, that the charity entered into on 21 March 2017, 15 3 dilapidation/remedial works requirement that is provided for by the Trustee's, based. on the 35sumptions and estimates given in Note 19. Income and endowments All income is recognised once the charity has entitlement to the Incorne, it is probable that the income will be received and the amount of the income receivable can be measured reliably. Donations and legocies Donations are recognised when the charity h35 been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the chaTIty 15 entitled to the funds, the Income Is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. Grunt5 receivable Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released. Oeferred income Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when.. The donor specifies that the grant or donation must only be used in future accounting periods,. or The donor has irnposed conditions which must be met before the charity has unconditional entitlement. Investment income Interest income is recognised using the effective interest rate method. Page 20
Crystal Palace Community Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2025 Expenditure All expenditure is recognised once there Is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff Costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the assevs use. Other support costs are èllocated based on the spread of staff costs. Raislngfunds These are costs incurred in attracting voluntary income, the management of investments and those incurred In trading activities that raise funds. Charitable octivities Charitable expenditure comprises those costs incurred by the chaiity in the delivery of its activities and services for its beneficiaries. It include5 both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Grant provisions Provisions for grants are made when the intention to make a grant ha5 been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable. Governance costs These include the costs attributable to the charit¢5 compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses. Taxation The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meet5 the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity 15 potentially exempt from taxatlon in respect of income or capital gain5 received within categories covered bv Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable G31ns Act 1992. to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed assets Individual fixed assets costing £250.00 or more are initially recorded at cost. Depreciation and amorti53tion Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, les5 3ny estimated resldual value, over their expected useful economic life as follows.. Asset class Equipment, Furniture and Fittlngs Depreciation method and rate Straight Ilne over 3 years Page21
Crystal Palace Community Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2025 Fixed asset investments Fixed asset investments, other than progr3mme related investments, are included at market value at the balance Sheet date. Realised gains and losses on investment5 are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities sn the period of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end. Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amoijnts due 3ccording to the original terms of the receivables. Cash and cash equivalents Cash 2nd cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change In value. Trade credltors Trade creditors are obligations to pay for goods or seivices that have been acquired in the ordinary course of business from Suppliers. Accounts payable are classified as current liabilitles if the charity does not have an nconditional right, 3t the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date. they are presented as non-current liabilities. Trade creditor5 are recognised init1311y at the transaction price and subsequently measured at amortised cost using the effective interest method. Provlsions Provisions are recognised when the charity has an obligation at the reporting date as 8 result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate can be mède of the amount of the obligation. Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. Page 22
Crystal Palace Community Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2025 Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Pensions and other post retirement obligations The charity operates 3 defined benefit pension scheme.Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation. The liability recognised in the Balance sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of plan assets. The defined benefit obligation 15 measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the e5tim3ted future payments by reference to market yield5 at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability. Actuarial gain5 and losses are charged or credited to other comprehensive income In the period in which they arise. Page 23
Crystal Palace Community Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2025 3 Intome from donations and legacies ijnrestricted Total 2025 Total 2024 General Restricted Donations and legacies,. Donations from individuals Grants, including capital grants,. LB Southwark Jack Petchey Foundation LB Bromley BBC Children in Need Young Londoner's Fund Garfield Weston Clarion for Foodbank Groundwork 1,070 1,290 2,360 308 27,126 9,873 5,097 9,081 22.135 1,800 15,291 1,800 15,291 30,000 8,931 30,000 8,931 5,320 500 LB Brornley HAAF W G Edwards Charitable Foundation 8romley children and Families Forum Bromley Children and Families Forum Clarion Futijres Penge Bid Bromley Black History Month Westow House Sue Giovanni 33,105 33,105 30,329 I,ioo 750 6,282 6,282 2,538 495 500 145 145 467 467 1,070 97,311 98,381 115,152 Page 24
Crystal Palace Community Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2025 4 Income from charitable activities Unrestricted Total 2025 Tot31 2024 General Restricted Bureau Services 240 240 380 Other Service Charges other income 22,545 16,279 199,987 237,917 22,545 17,249 199,987 237,917 25,487 31,506 193,730 212,924 970 Hall Space Hire Office hire 476,968 970 477,938 464,027 5 Investment income Total 2025 Total 2024 Interest receivable and similar income; Interest receivable on bank deposits 8,809 6,431 8,809 6,431 6 Expenditure on raising funds al C05t5 of generating funds Total 2025 Total 2024 PR and promotion 4,935 5,530 Page 25
Crystal Palace Community Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2025 7 Expenditure on charitable activities Total 2025 Total 2024 Staff costs Increaselldecreasel in dilapid3tion provision for revision Rent 216,556 113,9571 12,000 49,402 7,163 18,110 13,958 47,800 1,650 3,436 46,183 5,323 3,068 82,877 218 239,298 1130,5371 12,000 55,116 12,84G 28,192 5,384 40,839 276 Utilities Insurance Repairs and maintenance Long-term Building Repairs Telephone and IT Office expenses Printing, postage and stationery Cleaning Legal and professional Bank charges Subcontractors 2,755 45,828 16,890 2.434 88,944 1,327 6,149 41,012 32,446 5,328 2,171 Staff training Depreciatior) Direct costs 6,182 16,845 34,159 5,520 5,270 Rate5 Audit Sundries 561,763 508,698 In addition to the expenditure analysed above, there are also governance costs of £5,52012024 - £5,328) which relate directly to charitable activities. See note for further details. Page 26
Crystal Palace Community Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2025 8 Net incomingloutgoing resources Net incoming resources for the year include: 2025 2024 Audit fees 5,520 6,182 5,328 6,149 Depreciation of fixed assets 9 Trustees remuneration and expenses No trtjstees, nor any persons connected with them. have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses from the charity during the year. io staff costs The aggregate payroll costs were as follows.. 2025 2024 Staff c05t5 during the year were: Wages and salaries Social security cost5 Pension costs 203,284 9,171 4,101 227,738 9,804 1,756 216,556 239,298 The monthly average number of person5 (including senior management I leadership tearnl employed by the charity during the year expressed as full time equiv31ent5 was as follows: 2025 2024 Direct charitable activites 12 No employee received emoluments of more than £60,000 during the year. The total employee benefits of the key man3gement personnel of the charity were £64,04212024 - £52,283). Page 27
Crystal Palace Community Trust Limited Notes to the Financial Statement5 forthe Year Ended 31 March 2025 11 Auditor5, remuneration 2025 2024 Audit of the financial staternents 5,520 S,328 The above remuneration includes services for the preparation of the financial statements that are estimated to be £1,500. 12 Taxation The charity is a registered charity and is therefore exempt from taxation. 13 Tangible fixed assets Furnlture and equipment Total Cost At l April 2024 Additions Disposals 61,382 1,424 11,0641 61,382 1,424 11,0641 At 31 March 2025 61,742 61,742 Depreciation At l April 2024 Charge for the year Eliminated on disposals 53,800 6,182 11,0641 53,800 6,182 11,0641 .At 31 March 2025 58,918 58,918 Net book value At 31 March 2025 2,824 2,824 At 31 March 2024 7,582 7,582 Page 28
Crystal Palace Community Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2025 14 Fixed asset investments 2025 2024 Other investments 114,507 119,580 other investments Listed investments Total Cost or Valuation At l April 2024 Revaluation 119,580 15,0731 119,580 15,0731 At 31 March 2025 114,507 114,507 Net book value At 31 March 2025 114,507 114,507 At 31 March 2024 119,580 119,580 15 Debtors 2025 2024 Prepayments 41,634 4,716 16 Cash and cash equivalents 2025 2024 Cash on hand 581 744 Cash at bank 491,964 524,663 492,545 525,407 Page 29
Crystal Palace Community Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2025 17 Creditors.. amounts falling due within one year 2025 2024 Trade creditors 48,000 65,373 78,051 36.000 82,579 78,023 Accru315 Deferred income 191,424 196,602 18 Obligations under leases and hire purchase contracts Operating lease commitments Total future minimum lease payments under non-c3ncellable operating leases are as follows.. 2025 2024 Land and buildlngs Within one year Between one and five years 24,000 24,000 24,000 48,000 48,000 72,000 Discussion5 Wlth Bromley Counci1 have commenced, to agree on nullifying our ongoing rent commitment for Anerley Town Hall in light of the resources expended in looking after the building alongside the provlsion of services supporting the local community of Bromley borough residents. Page 30
Crystal Palace Community Trust Limited Notes to the Financial Staternents for the Year Ended 31 March 2025 19 Provisions Dilapidations provision Opening balance Utilised during the period 1296,3651 13,957 At 31 March 2025 1282,4081 As part of the forty-year lease of Anerley Town Hall that commenced on l April 2017, the charity h35 an obligation to bring the property up to a condition above that in which it was taken on by the charity by 31 March 2027. Previous calculations had been based on origin31 estimates dating back to 2014 and therefore a new assessment was commissioned from external surveyors in early 2022 and this was used as a baseline to work from thereafter. A5 we approach 2027, we have reviewed the likely Spend needed on the building to fulfil our contractual obligations and the board have agreed these new provisions to be satisfactory. It should be noted that this may not exactly replicate what CPCT chooses to prioritise over the time period but does give a br03d view of the main works envisaged. Between now and 2027, ongoing dialogue with 8romley Council Estate officers has been sought to ensure we are Successfully working towards the same understood goals. Type Internal Decorations Main feature 20,000 Paints walls, ceilings etc 15,000 Carpetslfloorings 5,000 Window easing / leaks / Doors Internal New Internal Repairs Outside Cleaning Outside Decorations 3,000 Jet Washing etc 30,000 Window fr3mes/dDwnpipes 94,804 Replacement Windows 55,000 Repointing18rickwork l Dr3ins l Roofs 7,366 Heating Controls 30,000 Lighting and Wiring Upgrades Outside New Outside Repairs Mechanical Electrical Sub Total 230,170 Contingency 22,238 Allowance for unknown eventslhappenings Total 282,408 Page31
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Crystal Palace Community Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2025 The specific purposes for which the funds are to be applied are as follows.. l. Kingswood This funding carne to an end in 2024125 and supported the work of a detached team of youth workers helping young people living on and around the Kingswood Estate, in Southwark 2. Youth Services Funds received supported the running of the twice weekly Youth Club and School Holiday schemes primarily aimed at those on free school meals. CPCT also supported the running of it this year with Eiok of unrestricted funds 3. Elders -Funds from Bromley Council helped provide weekly sessions for elderly local people as well as affordable day trips to the seaside 4. Funded Staff - The marketing intern position w3s funded until June 24 and then continued under unrestricted funds thereafter. £30k was received and carried forward into next year from Garfield We5tDn to support the kev Trust Development Manager role £10,501 transferred from unrestricted funds in relation sponsoring the Youth Services for the financial year and leaving the balance of £470. This is the net 3rnount of what Is yet to be received and funds yet to be spent. (Bromley Children and Families £6,282 yet to be received less -£3,300 the same unspent, less -£1,071 Jack Petchey unspent and -£1,459 Clarlon Unspent) £3,502 transferred from Kingwood Community shop to Kingwood detached,. £3k - Donor confirmed they were happy for the charity to utilise the donation as you see fit and the intention behlnd it is still there- to support the community where it is most needed. E502- The £500 was from Leslie Mccombie, who's son donated it on his behalf in 2020. It was donated with the Kingswood Estate in mind. Page 34
Crystal Palace Community Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2025 21 Analysis of net assets between funds 2024 net assets between funds Unrestricted funds General Total funds at 31 March 2025 Restricted funds Tangible fixed assets Fixed asset investments 2,824 114,507 491,024 1190,5781 1282,4081 2,824 114,507 534,179 1191,4241 1282,4081 Current assets 43,155 18461 Current liabilities Provisions Total net asset5 135,369 42,309 177,678 2023 net assets between funds Unrestricted funds General Total funds at 31 March 2024 Restricted funds Tangible fixed as5etS Fixed asset investments 7,585 119,580 481,259 1196,6021 1296,3651 7,585 119,580 530,123 1196,6021 1296,3651 Current assets 48,864 Current liabilities Provisions Total net assets 115,457 48,864 164,321 22 Related party transactions There were no related party transactions in the year. P3ge 35