Charity Ro91SlI0 No. 1128515 Company Roglstrallon No. 06773665 (England and SOUTH KILBURN TRUST TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 SOUTH KILBURN TRUST
SOUTH KILBURN TRUST CONTENTS REFEAENCE AND ADMINISTRAnVE INFORMATION .-.... TRUSfEES' REPORT FOR THE YEAR ENDED JI MARCH ZOZS..........-.....,......,.................. STATEMENT OF TRusfEE5' RESPoNSIBILLEs............ .11 INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF SOUTH KbuRN YRUST.... 12 STATEMÉNT OF FINANCIAL ArnvrriES IINCLUDING INCOME & EXPENOITURE ACCOUNTI................................................................ .13 BALANCE sHE.................... 15 C4SH FLOW STATEMENT.....................................................-........................-............ 17 NOTESTO THE CASH FLOW STATEMENT................................................... .................. NOTES YOTHE ACCOUNTS.......-.................................................. -19
SOUTH KILBURN TRUST REFERENCE AND ADMINISTRATIVE INFORMATION Trystees ichelle Addo Mary Arnold Ali Awe$ Peter Brown Ir98igngd 1 October 20241 Dame Karen Buck DBE lappolnl8d 3 S&ptember 20241 Hynde Habani Chabanel Robert Jolnson Ajexander NileTe Anand Roy cllr Jake Rubln (appointed 22 May 20241 Chalr Of Trustees Dame K8ren Buck (appointed l October 20241 Peter Brown (resigned 1 Oclober 20241 Chlèf Ex•cutl¥• Officer Fa.8 Sharp Company Secretary Hynde Chèbanel Charlty number 1128S15 Company numb•r 06773665 Prlnelpal address & ReglsteTed ofn Unrt 7 Peel Plaza. Mlle Walk London NW6 5HB Independent Examlner Martin Gumey FCA Haines Watts Swindon Limited Old Station House Station Approach Swindor SN1 3DU Banknrs Sol8h Wid¢)ws Bank POBox883 Leeds LS1 9TY Charities Aid Foundation ICAFI 25 Kings Hlll Avenue Kings Hill West M8lling Kent ME19 4TA INesl Malling Kent ME19 4TA Carnbrid9e and CnI1•S Bank Chamwood Gourt SB Naw Walk. Leicester LE1 6Te United TTUSt Bank 1 Ropemaker S( London EC2Y 9AW
SOUTH KILBURN TRUST TRUSTEES. REPORT FOR THE YEAR ENOED 31 MARCH 2025 The Trustses of Ihg South Kllbum Tntst I'thp Tru5t"I present their r9POrt and financial staterngnts for the year ended 31st March 2025. The financial stslemènts hav6 baen prepared in 8ccordance wth thè accounting policies set out on pages 1 19 of accounts and comply wlth lh& Trusys Memorandutn and Articles of Association. thè Companie$ A¢t 2006 and the 5tatem8nt ol Rgcommended Pracbce, "Accountlng and Rgporting by Charities., FRS 102. The Trustees have Compllèd the duty in Sedion 4 of the 2006 Charlties Act to have p8id due regaTd to guidance issued by the Charity Crtrmmisslon in relation to thè ath"viti8s bolng for the public befIt. Prlnclpal alms and obJ•ctlv•s The Trust's chaTitsblg oblèets 8re set Dut in the Articles of Associalion. The Trnst conNnues to rgVi8w its plannèd actlvities with regard lo publlc b&nofjt gnsurlng both thè identrfiable banefits an¢J tho benefit to the s¢th Kilbum IxMimuniti8s. The objectives of the Trust this yo8r 8ré= To begin a Il$t8nlng èxerci8e th South Trtilbum residgnts lo better uTrJeistaThJ local n&S in order to bo better able lo a(fvocale for community inveslment. To review community gov8rnancè arrangements in South KilbuTn th Ihg gim ol Ad)ieving gréatgr resident ovèrslght of and irfugnce over local s•r4ico delivery. To build on th* success of the Community Worklng Paty as a means of bringing parts)er organisations tcgether to deliver a more join8d up service lo local residents priMalY through th8 f£rAlilalion Df sgV8ral Thèmatic Action Grotjps. To provide tsilored 5UPPOrt to local p8ople kIng for work and those wilh prewernplttym&nt SLSPPOrt n•eds. Support local people and groups to fost8f a rgsilienL conngclgd 8nd sottiablg community through communty •vents and improvements to the public realm and undar4èsourc8d hxal amenitigs. Strat•glc focus for 2024125 anisational develo In 202ts2025, South Kilbum Trust (S) continued to stwngthen Its staff and BoaTd, building on the commendations frorn 2023 govornanc8 review condueted by PRD Redo. These recommendations were reflned by our incoming Ghlèf Executive. Three new Tw31È¢$ jolnèd thè Boarcl last year, ov8dappiny wlth outgoing members to ensure conllnuty. In 2024. Peter Brown Stepped down after bvelve years of strviee, having chaired the Board during a critical inl8rfm perfod. Petorfs leadership hglpad guide SKT through preparntion3 for the Carlton & Granvill8 project and strengthened our connection wth tha South Kllburn COFnrnunity. W8 thank P8t&r for his vision and commitment. mance BoBrd and stsff Chan e5 SKT eslabllsh8d a Govemance Commilt89 and ndUcted a Trustse skills audft lo prepare for the planned departurg trf ftjur long-serwng Trustees in 2025. Dame Karen Buck w88 appDinled Chair of TnJste88 In September 2024. To support our straleglc growth. SI rgcruited four new team m•mbers in Communty Engag8ment, Communications. and Finance-ona of vthom is a local rosldent.
V75ion M1531on and Value3 In June 2024, at the 8o8rd'5 3nnu81 Away Day lo review strategy for the y88r ahaad. th• Trustees and sènior staff rewèwed the org8nisation's vision, mlsslon arsd values and sgt out a forward plan. Vlslon: Rlch In dwer5ity, united by the place we are proud to call horne, the people of South Kllburn ollabordte to shape local services, share opportuntties and seture support for local people to thrive. Mlsslon: to enable a flourlshing, safe and inclu51ve communlty In South Kilburn. We dv thÈs in conversation with the Community- providing access to information. shad spaces to connect, and advocatin8 for improved services and opportunities. Values., Open-tran5parent, %nclvsive and welcoming to all. CarSng- cons15tent. committed, trustworthy. and accountable. We Ilsten and always do our best. Empowerln8- Championing the South Kllburn community and helping people access the support they need to live well. mm nil En a erp.ent Engaglng vAth thè community is 8 prforrfLy frjr sKr. Th9 sm811 tsam conn•cted with and lislened to th• community thrwgh.. 40+ communlty evenly and meelln9s attendedl supported 21 volunteers engaged giving gvÈr 100 hours of service 12 pald opportunities for local residents 11 communty gngagomgnt events hosted rgaching 74 r9sidgnts In particular WF launched the Comrnunty Conversatlon$' project, led by our new Community Engagement Coordlnator. Rasldants cdesigned a household 8urv8y to infom ftrtur• govemance and Serv delivery. Exporiencvd reswjents were inviled to train peer corlsuttants. 1880 doors in South Kilburn lapproximately half thè tot81) w8r8 knockad. achlevlng 201 completed suNeys by th8 end ol thg financial year. The remaindef to be carThe4 OLrt next year. headlines.. When asked to rank their top prioritles for ¢hanBe from a list of 9 prioritres, the top three priorities identified were.. Reducing crime and Improving safety Housing issues Better service5 for young people
Partnershi Cose Study.. Registered Pmvider5 Roundtt7ble SKf5 5UPPOrt of p3rtnershlp working In South Kilburn led to the fomadon of 3 Registered Provider5 oundtable. now led by Brent Council. Thi$ group coordlnates responses to anti-social behaviour IASBI, community en8a8emerrt. and estate maintenance across nine housing providers. SKT ts)ntlnued lo support the Communty Worklng Party ICWP}, a of 45 local org8nisations and sèrvk8s and hs Thematic Action Groups. We also 3ctiv*ly participate in broader initialNes such as One K61bum, Serfous Violence Task Force, Brent Givlng. Br¢nl Health Mattars and Brent Gre N8ighbourhoods. The CVVP was tasked with delsvartng actlons outlined In a needs mapping document adtX)ted by the gioup and MbarS arranged themselve5 into the following Thematic Action Groups (TAGS).. l. Public Sp8¢8 8nd Public Realm Achievernenls.. IrnpTovements to thrge playgrounds and advocacy for lelsur8 spaca access. 2. Childrgn and Young People Achievemen15'. Youth voice project engaged nearfy 100 young people. 3. Communify Buildtngs Achiev8menl$'. Consvltstions on Cartton & Granville rsop8ning and govèrnance 4. Health and Wellbeing Achi¢vements.. Events including South Kilbum Camlvgle and Wlnter Fair. 5. Employm8rJt and Training Achievernenls". Empbyment Fair and new $upport seMce18unched. 6. C8pècily 8uilding Achlevernenls.. Fundlng workshops and small grants to TRAS. 7. Community Engagement Achigv8ments.. Coordinated inforrnatyon sharfng aeross and btheen agenths. Indi ual and collective resilien In order lo address soctal and econornic in8qu81ty in South Kllburn. Ihe Trust has taken an individual and CL)Ile¢tNe approach to tNJld rèsllience. TD support economir independence and personal self-detgfmination. SKT has partnered with Equiv151on and Brent Hub lo l¥unch 8 new empbyabilty support seNcè ts110d lo assigt South lfjlbum residents. Employmènt Support Outcomes 17 open-access 3988loll$ held 45 partiopanis attended 34 dlgnts recelved personallsgd Support 2 rnsents secured quallty employmgrrt ach cllènl r8¢aad a tailorod Adorn Plan Goverlng lob $oarch. skill$ developmenL gmotional wallbeing and career guidance.
To promote coll8ctivg ampow8rment sKr has ch8mpionèd new forms of local govemance. Recognlskng that South Kilbum residents have strugJ18d lo h8ve thelr voleès hèard, s has pmmpted residents and partners to engage with Bient Council's new CEO'S plan fDr hnessing community power. sKr inwted partners on the CWP to explore options for greater rési¢Janl partlcip8tlon and leadecship. SKT faGylitalèd a Governance Task and Finish Group which Tecommtrnded translfjonlng the CWP Into a resident-led mutti- agency partn&rship for South '1bUrn. This marks the siart ol a process to empower residents collectively. enhance k)cal decisDn maklng and brfng resldents and service PTowders closer- all wilh the aim of improving local service provi510n, maximlsing the opportuniti&s arising from the gEneratIon of South lbuM and ensurin9 better outCOrnOS for local rèsld&nts. us on Crirna SB and Comrnuni Saf8 Wich Crime and AS8 beiThJ the number one ¢on¢em of kjcal residents as expressed to ua in thè Community Conversatlons. SI supported resldgnts and partnors to address ASB Ihiough coordinated actions. our contrfbutSons Included.. Securing closure orders for problem prcwertigs Carrying out lighting audits across South Kilbum Coordinating bin store sweeps Encoura9ing squalt8r camp int8lVonth?n5 Incraaslng participation in police's Ward Panel for Kllbum omm nutons Residents reported feeling underinfom)èd ofdevolopmenls that affected them. and wer8 not oftèn awarg of opportunitie5 open lo them. SKf proposed a shared newsletter to help ensure jolned up ¢ommunutlons. This led to SKT produ¢ing a sèa50nal Wh8t's On Ilsttng that we distributed to the c. 4000 homès In SK. We produced 3 edibons in 2024125 drIng attention to 55 free OT -cO51 local opportunities. Our new Communlcatlons and Engagement Officer focused mainty on our prlnted ond digital communication5 including.. Digltal email Newsletters with updates on actNilie¥. evgn15 and semces sènt to nearly 500 subscribers monthly 15 leaflet drops through every door in SK 31 opportunities shared via our soaal media Structurè and hlstory Tho Trusl k% a ¢ompany Ilmit8d by guarantee, and Ix)mm6n¢8d 0ratnS on 23rd February 2009 and be¢8m• a régisterèd charty on 12th March 2009. The Trusl was creatéd to be tho "legacy vehicle" for Ihè govémmènt funded South Kilburn New Deal for Communitl8s INDC), whlch wound up in March 2011. The Trust was set up with the support ol the local authority. the London BoTC)ugh of Brent ILBBI. 8nd with an asset base and business plan to •n$urE mediurn lo long-term viability. Gov•rnan¢e and Management The Trustees, who are also the directors for Iho PUTpose of company law and who served durSry the year are listed on page 3. None of the Trustees have had any beneficial interest in the mPanY durlng their period of service. AJI servlng Trustees aTe mgmbers of the ¢ompany and guarantee lo contn.bute £1 In thè avent of the company wlnding up.
Thè TTu$I recognises that due to extenuating olrcumstances Some of the trustees have baen serving on the l)oard longer than provided in the Athles of Asswiation. Four new Truslge5 were r?¢wtt8d b&een 2023 and 2024 and one long serving Tru3188 Stepped down. The Board 8uceession plan was updated In 2024 and provides for further Trustee recruf(rnenl and for the remaining long&st serving tN$laés to step down in 2025 after an 8ffè¢tyve handover. ReCltmonf, appolntm•nt & t•m)s of offlco of Trustee5 TTUStees are reeruiled in accordan with th8 procedure described in the Memorandum 8nd ArtideB of Assoaotion. A person cannot be admitted as a Trustee unless sthe has signed a ¢ompl¢tèd applicatkjn to be Trustee. When recrurting Trustees. the Ba8 takes into aco)unl. lo the extgnl the Board considers rt practicab to do so, the need for new Trustees to contribute lo the skllls mtx ar¥J balancè of the 8oard. Alongslde "stskahold8rt Trustegs amongst whom there wlll be a representaVe frorn the London Borough of Brent ILB81, th8re should always be at least O"reS1denf Trustee5 on the Board. Trustee IndudiDn ond traSning New Trustees are off8r8d an inductlon which includes familiarisatijn with the demo9raphi¢ and sodo8conom characteristics irf South Kllburn and details ol the regenerallon proposals for tho arèa. role and r6sponsibilili8s of 8 Trusteè and rg18vanl Charlty law is oxpL9ined to new Trustees aswell as the fnore Spedfic ¢harttablg objectNes of thg Trust Staff Stnkctur• Slrategic-level dlSIOnS arg taken by thè Board of Tmstees, with the day404ay operational decisions do1gg81gd to Ihg Chlaf Ex8cutfvo. A Committee of the Board rev staff remuneration on an annual bas13. which Is re¢omrnerKlèd to the Board for approval. The Trust takes its HR Iegal advice from a conlracled prt)¥idgr, whlch includes benchmarklng roles agalr1 others in the sr, and thls adCts wfll be $owJhl wttere an indepenéent view is required. Related partle9 Atthough th8 Tru5t1s an Indapèrsdant ch8rfty, th81a is an ongolng Framgwork Agreement betsveen the Tru8t and the London Borough of Brent whlch sets out govemanco and conslitulional agreements b8tw&&n tho partl8s. Thè Frarn6work Agreement provides for a Director ol the Trust lo be appointed by the London Borough of Brent Ilhe Cotjncil Dlr8clorl. Cllr Jakè Rubin was appointed as the Council Oirector on 22nd May 2024. Rl$k manag•mgnt The Tru51ees re9W rfsk managèment regularfy in temis of kfjenlifying the types of risks the ¢h8rity faces loperatKJn¥l, finanal and governan¢o1, analysing and prforftlsing them in terms of potenttal imp8Ct and likelihr of occurrencè, and Idèntfying mèarns ol mwallng the risks Identlfied. Those milvJati(s include robust Flnancial Procedurgs to r8duca tha rfsk of fraud. thoft Of rnlsrnanagemenl, and safeguarding procedures to protect all 8erwco ustsrs, ¢li¥nts and the general publlc. Fundlng Sources As a result of the closure ol The Granville 8nd th8 Trust thgr8fof• winding up operab'ons at the end of th8 financial year 23124. with the resulting loss lo the Trust of revenue making sIrM8. we havo b88n ftjnding our existence from the £2m set aside from the legacy 8nd¢)wmÈnt to make the Catonrnl1e redeveloprnent possible and to secure a 25 year lease from LBB. Havlng ebsorbgd th* CA)sl associaled wth the rapital investment frcim the gacY endowment, leading lo a wdu¢ti(Trn in interest accnjing to the Trust, W8 anticlpat& that onee the Cartton l Granvllle scheme Is fully open lexp8Cted earfy 2027) the r9v8nts8 generated will contrfbule to th¢ Tnkst's abTlity lo ¢onlSnue delivering ils charitable objectives in South Kilbum.
Financlal ¢ontrg1 The Trust receives a flnancial report on a quarterly bas1$ which draws aitention to any variances from lh& tJdget. This is Teviewed by thf Finance and Investmgrit Sub-CoThmittee before being pr8Bented lo thg Board. The administration of payments is Manag by sl8ff in the South K¢Tr)um Trust in ac¢ordance with the Trust's Financial PToceduros. It is pollcy of thè Twst that unr6Strictod fund3 which have not been degign8t8d lor a specrfic use should be maintainèil ata levèl èquw81gnt to Iwelve monlh's Èxpendil¥rè. The Trustees consldar that reserves at this Ve1 will 8n$ur8 that. in the event of a signifirAnt dTOP in funding, they wll b8 ablg 10 continue curfent activities whil& consid8ratFon is gwen ID ways In which additional frjnds may be fdised. The Trust had reserves in exGes8 of thls mhlmum roqulrement. Future Plans The TTUSI aims to continue supporting the 9siablhmgnt of a ro$Klent-bd partnership for South Kilbum. ensuring the process is Inclusivo and equitable. We will fundr8ise ft)r the support needed to h81p group succeed and wll ringfence resour¢e$ of our own to 8nsure 8 minimum Support level 1$ av81Lqb. In particular. w6 hope lo work wilh th8 R8génèratlon partnèrs in the Community Working Party to carve out meaningful role for rgsident5 in the appoinlment ol the single dellvery partner to Brent Council for the remainder of th8 rageneialion of South Kllbum. We Blm to conclude our est8te-wlde Communty Conversalons project by knocklng on all dcxjrs In So Kilburn and shadng thè findings with residents and partners induding the n8w developers. Additional, we will eontinu• to apply pres$ur¢ on rViceS that are underperforming in South Kilbum and advocate lor greater joining up, b¢ that In r8lation to ASB or eststg management for example. We continue to hone our plans for the Carkon and Granville Scheme which the Trust is investing in. We are heduled lo lake possesslon undèr Ikens8 of the first ol lour phases In July 2025- phase la wlll ¢omprfs8 10 self¥contained studtos and an opgn plan 'Common Room, of c 100sqm. The affordable workspace sludkjs are being fflarketed locally at rents be¥een one third Énd hèlf of market rent. Interest lo¢#lty is high and we hope lo have .let the studios to local business8s by tha kn.me th&y become available. Futufg Pha$85 gre ancIpal#d as folk)ws: phase 1 b - the east core of the Carlton Flrst floor covnprtsing a furthèr three studios ar the Ground floor 'Café area IFeb 20261., phase 2 Garden Hall (Novembér 20251. ph8$a 3 Granville Centrè IM8y 20261, phase 4 the top floor of the Carfton, the Sm311 H811 in Block B and tha gardens lat practical ColetIOn estimated al June 20271. Flnanclal roviow Thg position of the charyty a131 March 2025 is set out on page 15. The year ended with the organigation irs strong posSN¢n lo take lopNard rt5 future plans and lo use its resources for th9 ben8fit of the local communty, Durfng thè ygar the charty had a n8t oufflow of resourcès amounting to £189,342 12024.. net oufflow £498,600>. At th yèar ttnd the charity had total res&rves of £3,223,734 of vA)Ich £63.631 rÈl8tÈd tr> rèstricted funds, £3,153.314 to designated fvnds and £6.789 to unrestricled fvnds. Datsll$ of these are included In nol&s 12 arKI 13. Whilst thg charity Is holding 8 hlgh lavol of rasetves the majority of th08e funds have been designated for specrfic projects Is&e notts 13110 allow the Trustso$ time lo rewew the long term sustain£bb strategy lor the organisation. Free reser¥es of the charity at the year-end lunre5trtcted fijnds less d¢slgnated funds and those ded up in tangibl8 fixed assets) arnounted to £2.53912024.. £1,788).
Thi8 rèport been prepared In aceordance th sp•clo1 prDvl$lon$ rdailng to $mall compae$ thITr Part 15 of Companiès Act 2C4J6. On behaw of the Boord of Trustee Signed,. SIgrd.. Name.. Karèn 8uck, Chair of Trustee Trustso Nam8'. Anand Fl£Jy. Treasurfjf Trustoe Date-. 29h November 2025 Dale.. 251h November 2025
SOUTH KILBURN TRUST STATEMENT OF TRUSTEES. RESPONSIBILITIES The Trustees. who are al80 the director3 of Soulh lQlbum Twsl for the purp058 of (x)rnpany law. arg rgsponsiblg for preparing the Trustees. Repcyt and th8 aeeounts tn occordance with applicable law and Unltsd ngdom Accountlng Standards (Unite¢J Kingdom Generally Accepted Accounting Pract8). Company requires thg Tru81ees lo prepare accounts foreach ffnanclal y8arwhi¢h give • true and fairv¥Èw of the slate of affalrs of thè trust and of the Incoming resources and applicalon of rgsour(s. Incknllng th8 Income and expendlturg, of the charttabl8 company for that year. In PPang Ihese accounts. the Trustees are required ta.. select suitable aecountino policies and then apply them conslstenly. observè the mgthods 8nd prfnciples In the Charities SORP: rnake judgem8nts and 88lim8te8 that are reasonable and prudent and prepare the aceounts on the going concern basis unless it is inapprnprlate to pr•sum• thal th8 knjst 11 eonlinuE in opgratvn. The Trusteés are responsible for keeping FwDper accountlng reeords that disdose witti reasonable accuracy at any time the fin8nu81 posithon ol the charitable rfjmpany and 8nAbl8 thÈm to ensure th the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the tharitable company and hencè for taking 0onable steps for thg prevtIOn and dglèction of fraud and othor irregularrties. Thè Truslees are responsible forthe maintenancè and Inl89dtyof Ihg Charitywebsit8. LegIslati In the United Kingdom gDvemlng tre preparation and dissemination of flnanclal statèménts drfrer from legislation in other lurfsdlctlons. li
SOUTH KILBURN TRUST Ind•p•ndent Examtn•fs Report ta th• Trust••$ ol South KSlburn Tru$t I raport to thg charity trustebs on my èx8mln8ilon ol tha accounts ofthe company for the year ended 31 March 2025 whrh are sel out on pagg¥ 13 to 30. Rg$pon$ibllitlg5 and basig of roPQrt As the tharity truste9$ of the cDrnpHny 18nd Also rts directors for the p>Jrposes of cornpany law) you are responsible lor the preparation of the accounts in accordance with the requirements of the Compan$ Acl 20061'the 2006 Act'l. Having satisfièd mys&ll th8t the accounts of the company are not required lo be #uditgd und8r Part 18 of the 2006 Act and ara allglblè for Indepèndant examinaon, I rgport In resped of my examinatlon of your company's accounts as carrièd out under s6Ction 145 of the Charilios Act 2011 Ilhe 2011 Acl'l. In catyng out my examinatll I have followed thè Dir$¢tions given by the Charty CommissKn under section 145lSllbl of the 2011 Act. Ind•p•nd•nt •xamln•rf$ stat•m•nt I have completed ry examination. I confirm ihat no matters have come lo my attention in connection with the examinavon gwing rne cause to bèliÈvÉ.' accounting recordB were not kept in m5Pe¢t of the Company as rgquirwj by Section 3B6 of Ihe 2006 Act.. or the accounts do not ge¢ord with those recnTds,' or th8 a¢counts do not comply wth the accounting requirements of Sectlon 396 01 the 2006 Act other Ihgn any rquIn8t that the accounts give a true and fair view which is not a matter consid8ied a5 part of an independent examination.. or the accounts have not been prepared In accordance wth the methods and prtnciplas of Statèment ot Recornmended PrBctice for accounting and reporting by charities (applicAb lo charftles preparlng Ihdr accounts in accordance with the Financial Reporting Standard appllcable In the UK and Republic crf Ireland IFRS 10211. I hove no concems and have come across no other matters in connectlon Yhlh the examination ID whtrh attent0 should be drawn in this report in order to enable o proper undeTslanding of the accounts lo be reached. Martln Gum8y FCA ICAEW Halnes Watts Swindon Llmited Old Station House Station Approach Swindon SN1 3DU Data 1) 12
SOUTH KILBURN TRUST STATEMENT OF FINANCIAL ACTIVITIES Ilncludlng Ine¢Tho & Expendlture Account) FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted D••lgnated RoitTr¢t¢d funds fund lund 2025 2024 Notes InMm• from: Donation$ Investment irthme 17.291 138.289 123,904 138.289 Charttable actie8 Other trat8lng Income 97,673 Total income 138.376 138,376 238,887 Expendlture Ral$lng fund5 Investment management costs Charttabl• actfvltles SKT operations Enterpnse hub The Granville Community engagement Th8 C8rMon l Granvile scheme 375.950 80,493 201,280 79,744 218,831 108,887 218.831 108.887 327.718 327,718 737.467 Total expondlturè 327,718 327,718 737,467 Not expenditurg before transfeffs {189.344 1189.342} {498,61JOI Tran8feTS Gros5-tran8fers between fvnds 13 189.342 11B9.3421 N•1 l•xpndllurel I In¢om• for th• p•rlod 1189,3421 1189,3421 1498,6CQI Contlnu•d 13
SOUTH KILBURN TRUST STATEMENT OF FINANCIAL ACTIVITIES {CONTINUEDI FOR THE YEAR ENDED 31 AIARCH 2025 Continued RKon¢lllaUon of Fun(ts Fund b81ance3 brought at 1 April 2024 6,789 3,342.656 63.631 3,413,076 3.911,67 Fund balxn¢È$ ¢arrl•d for¥v4rd at 31 March 2025 6,789 3,153.314 63.631 3,223,734 3.413.076 There werè no other [gnISed gains and loss&s lor the period other than IhDse includad in Ihe statemènt of finanaal aCttvl•S. All thè Eornp8ny'5 actIV8S are cl85sifi8d as contiftuing. Thè slatemenl of fjH8ncial activitses also iomplies With the reqU1mentS for an Income and &xp8ndltur8 account under the Componies Ad 2006. 14
SOUTH KILBURN TRUST BALANCE SHEET AS A T 31 MARCH 2025 2025 2024 Not•s Fixed Tangible assets 4350 5.(k11 4.2511 5.001 Debtors Cash at bank and in hand 10 59.942 3.175.018 121,580 3,393,820 3.234.960 3.515,400 Croditor•.' amount• falllng due YAthln yr 11 115,4761 1107.3251 Nèt eurr•nt a¥sgt 3319.484 3,4D8.075 Totsl 0$801s l•$$ CUTr•nt liabllltlo11 3.223,734 3.413.076 Funds Reslricied incDmg fvnds 12 63.631 63.631 Unresth¢knd funds: Designated funds 13 3.153,314 3.341656 Other charilabls funds 6,789 6.789 Tot41 chartty lundty 3.223,734 3.413.076 The charilable Company is wrtiled to exernpfjon from aud under Secuun 477 of the Comp8nl8s Act 2LK6 for the year ended 31 MarGh 2025. The m8mbÉr$ have not requlred th6 company to obtair7 an aLJit ol rts nnanclal stat•rn•nts for trg yoar er911 31 March 2025 in accordance with Section 476 of Ihe CcThp8nie5 Act 2006. The trustees ad(nc*Medge 1heir re5pon$ibilth"gs for lal ensurirg that Ihe charitable company keeps accounting recoTds that cOMY wlth Sec£ions 386 and 387 of the Compenles Act 2006 and preparing fin8nc5al statements which giva a trua and fair vigw of the state of 8ffairs of tha charitable company as at the en¢ of each finanoal year and of its suFplus or deffldt lor gach financial yearin accordane• with the rEqUif8ments of S8¢tion8 394 8nd 395 and which otherw7S8 mpty with the requirernents of the Companies Act 2006 relating to finanGial 5tatem8nts. $0 far as applicable to the charitabb company. The accounts hsv8 be8n pr8par8d in accordan with the swclal provisions relatir@ to 8mall compani98 in Part 15 ofthe Companies Ad 2006. 15
Th& fin8n81 st8temerrts wore approved by tho 8(Ard on Sign8d'. Slqned: Nam8.. Karèn Buck, Chall of Trusteès Tru$to• Name: Anand Roy. Trèssur Trustse Date.. 25th November 2025 Dats.. 25th Novernber 2025 Company Reglstrntlon No. 06773665 16
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Nat cash louffl)wlllthlow Imm vpwating Aetfvltl85 (297,1501 1576.7851 Returns on Inv•8tmènts and r¥¢¢Ing ol Finance Interest received 78,348 21,653 N•t rAsh Inif4w from returns on Investments and servlelng of flnamco Capltal expendlturg Payments to acqulrè lawlblo flxed assets ProGegds of sale of investment properties 78.348 21.653 (2,899) Nat cash Inflowlloufflowl frgm G•pitl EXndItre 12.89è1 ID•¢r•as•llln¢r•a¥• In ¢ash 1218,8021 1558,0311 17
SOUTH KILBURN TRUST NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 202S a N•t ¢a6h louffiowvinllow from op•rating •etlvltle¥ for the p•rrod 2025 2024 Changes in resour5 before revaluations Interest Ceivable Dapwlabon of tanglblo fixed as$ots Write-off of tangible fixed 9888ts Movernent in d8btors Movement in eroditor5 1189,3421 (78.3481 750 {498.61W)I 121,8531 883 2.859 1110.4731 50,199 81,638 191.8481 1297,150 1576,78¥ b Recondllatlgn of ng1 ¢48h flrjw tt¥ nTQVgrnont in n8tfiJnds 2025 2024 ID•croas•yincrèase In cash Nel funds at 1 Aprl 2024 1218,8021 3.393.820 1558.031) 3,951.851 N•t funds •t 31 2025 3.175.018 3,393,820 18
SOUTH KILBURN TRUST NOTES ro THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 1 Aecountlng poller• 1.1 Gon•ral Inlorfflatlon The charity is a prEVate company I1t by guarantee. registered in EngSand and Wal85 al a reglstered charity kn Eng18nd and Wales. The addross of the reglstered office Is Untt 4. M119 Walk. Peel Plaza. London NW6 5H8. Statement of compllance These financlal statements have beon pr8par8d In compllancg FRS 102. Fin8ncial Repo standard applicable in the UK the Republic ot Ireland.. the Statement ol Re¢ommen(Jed Practic8 applicable lo charitlgs pr8paring their8ccounts in accordanc8 th the Financial Raporbng Standard appli¢ab in the UK and Republi¢ of Ire18ntJ IFRS 1021 Icharibes SORP IFRS 10211 and Ihe Ch8riti88 Act 2011. The charity constitutes o puLlic benefit entty. 1.2 Basls of PTeperatlon Tha financial ststaments have bgon Pparert on th& histort¢al Cost basls. a5 rmdffigd by th8 r8valuats.on of certaln fixed assets measured at fèlr value through Inwme or exp#¢tu. The fiTr8ncial $tstem8nts are prepared In stedlng, whlch Is th8 fvnctionBI currency ol the entlty antl is roundad to tt)• n8arost £. Going ¢one9rn Thert Bre rto matèrial unc8rtaintl85 regarding the going eon¢em the charlty. 1.3 Fund aecountlng Ganeral tsnd5 are unreshct8d fund5whlch are avallable for us6 at tho dlscretion olthe Trustees in fvrtherance of the general objecbves of the chadty and which hav8 not b880 d858t8d for olhef purposes. Restricted funds are funds which are lo be used in 8ccord8ncewth specific r8Striclion5 irnpoyed by the donors or which have beeH iaised by the Gharity ftK particular purposes. The ¢o$t ol raising and admtnistering suc funds ar• ¢harggd 8gain$t thg Spocifio fund. Designated hjnds comprise un$b1¢te funds thal have b88n $8t ashle by th8 Trusteas for parUcul purp0s8S. Whor• part of an unrostdcted fund Is mirked for 8 parlcular project but there Is no legal restricbon to the Tru3lees' dIscre1)n to apply to the fund. lh8 affected a858ts will transfer to frTh a designated lund. Wheft the Trustees have the power to d8cL4r6 spaclflc trusts over unrestTkted funds and such power Is exercised. Ihg assetg 8ffected will transfer to forrn 8 restricted ftjnd. Where there 15 a Surplus a restricted fund after any (tjligalions lating to the fund haw be8n dls¢harge4, the surplus will then transfer to unrgstrfctsd fund8. 1.4 In¢)mlng resour Don8.0n$ a accountsd lor when con¢Jitions have been met and there is rea80nable aS3Uran of recgipl and Srnounl re5vable can b8 reliab 89tirnatsd. L8gacie5 ar8 8ccountad for whon notlfied, ProdIng the Brnount Can be rlab asrtained and that ulumate recopt is rgasonably certain. Donated services and gifts in kind are inclu¢led at the value lo the Trust wh8re Ihis can be quanb'fied. The value of services pro¥rided by volunteers has aot been included in (hese accounts. Grants rec81v ar• aecounttd for as receivable a5 and when tondttions for teIpt have been met. Incorne from rharitoble actpithes includes In¢ome re¢eived under contract or where enbtlemenl to grant fvndlrg 15 subject lo perforn8nce condltions is ¢09nISed las the related goods or seNlces are provldedl. Grant Income iryGlud¥d In this category provtdes funding to support acliwties and is recngnised where the 15 enlittem8nt. esrtalnty of recelpt 8nd the #mount call b8 rne8sured with sufficient reliabllty. 19
SOUTH KILBURN TRUST NOTES TO THE ACCOUNTS ICONTINUEDI FOR fHE YEAR ENDED 31 MARCH 2025 Advan payments re¢gived during the y¢ar for adivities to b8 Carried oul in later finan¢kil years er8 fiDt reflected in the statement of financial actNitiex. The amounts have been deferd to the financial year in which the 801pti85 will be carried out and are Ported a$ defeffed incom8. Deferred inefjme 1$ included th[fi ¢ditors. Amgunts which wer8 reed aftw the period end frjr activthes carried out during Ihe period have been arUe for in the financial period in which thè aGtfviUgs re Carfed out and reported 8$ accrued incorne. In¥èstrn•nt and r•nial Income is cOgnised on a T8Vabl9 basis. In¢om6 Irn propety disposa15 15 recognised on the cornpletion of contract. 1.5 Debtors Bnd Cr8ditOTS Trdde gnd othEr dobtors are recognised * the 3etUem8fit amount du•. Prepaymgnts are valud at amount prepaid. cditorS a recognised whethe ch8rity ha8 a present oblKJation SUlting frDm a past¥vent that11 probably result in the transfer of fuThJs to a third paty and the amount duè to 58tt18 tha oblEgaUon can be rn¢asur8d or estimated r81iabty. Cr8ditor5 are reco9ni5ed at their setUement amount. 1.6 Resourcos •xp8ndod Exp8Nlitur8 15 recogni54d whon a liability is inr#Jrred. CoAtradual 8rr8ngtmgnts and perfomance ralat8d gfants are COgnISed as goods or service5 aro supplled. Other grant paymerts are recognisad when a ctsnstructrv6 obliga"on arises mat resutt in the payment belng unavoldable. Costs of 9gnera'ng fijnds afe th050 Costs irKurred in 8ttracbng voluntaryincome. and Ihose in¢urT•(J In trading aGtivltlas that raise fvndB. Charftabfe actmties indude both thg direct 8nd support costs rglaJng to these acti118. Governance costs indude Ihe cost of any legal advica lo Trustees on governance or constltrjllonal matt8rs, extemal accounian¢y and 8udit costs. a proport.ton of consultsncy costs whkfr related to strategic monagement of the charity as well as other v8riou5 expens6S. Support Costs includ8 Central functions and hav• been alloca equally acr$ the dnyerènt aGOvit40s. Th8 Tru5t15 not roglstered for VAT so all expens9¥ shm in Ihè Stat•m8nt of FInan¢1 Activlles ané not•5 to account3 are shown gross11.6. inclusfve ol VAn. The Tmst 8mploye6s participates in a defined conlribubon ptnskjn s¢heme. Pen$lon cOntrfbulof arg charyed lo th6 Staternent of W5nanLyal ActIviS in the year in which they fall due. 1.7 Tangib ffx¢d assets and depreciafjon Tangible fix assets ar8 Statad at CO8t18ss d8precAation. DepCiatiOn 18 provided at rate$ cglculated to write off the cosl le55 ests"rn#ied residual value ol each asset over its exptct8d useful Ilfe, as folbws.. Offiee equlpment Fr8 & ffttiTus 15% reduclng balar 15% reduclng balarKe Inv85trn8nt prortIeS are ilUded in the balance sheet st thè On mafk•t value and ara revalued &nnutlty and the aggregate surplus or d8ficii is translerrod lo the revaluation reserve. No depreciation or amorbsatKJn is provlded in SpeCt ol investment properhes. Mlhough thls Is a d8partuw from tre general reqrernent of the Companies Act 2006 for all tangible assats io be depreciated. In the OPillTon of the director complian wSth the standard is ne¢ess8ry for the financial 5talernents to gbve a truÈ and lair view. Deprea8tioll and arnortisation is only one pf many f3ctor5 r8flectod in th8 annual valu8tion and Ihg arnount ol thls whlch nlght tsthepNise have been Charged ¢annot be separately identified or 4uanUfted. 20
SOUTH KILBURN TRUST NOTES TO THE ACCOUNTS ICONTINUED) FOR ThIE YEAR ENOED 31 MARCH 2025 Assets are capitalised ifthey are deemed to have a b8neficiat U88 of greater than ontr year frorn purchase have e Cost greater than £2.500. Trade and other d8btors are r8coynls•d al Ihe se¢ttement amount du8 aft•r and trad8 discounts. ppayMènts are value¢l at the amount prep8id net of any disewnts. Cr8diiors and provisions are fftcogniser5 where the charity has a prosent obligatEon f8sulting from a past event that will probably result in th8 Ir8n51er of funds to a third paTty and Ihè amount to settte the obllgation can b• measured or 8stlmaled lIablY. 21
SOUTH KILBURN TRUST NOTES TO THE ACCOUNTS ICONTINUED} FOR ThTE YEAR ENDED 31 MARCH 2025 2 Voluntary In¢om• UnrnBtr4ct•d D85lgt0d R•#trlthd fvnth fvnd• fundj TotAI 2025 Total 2024 Donations Grant incom8 87 87 17,291 87 87 17,291 Unrestricted income lor 2024 totalled £17.291 3 Inv•$tm•nt Incom• Unrestricted D•signat•d fvnd8 lunds Restrlcted fvnds Tolal 2025 Total 2024 R8ntsl Income It)terest recelvable 138,289 138,289 123,904 1383a9 138,289 1rJ,9Q4 22
SOUTH KILBURN TRUST NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR ENDED 31 IAARCH 2025 Analysis of Bxpendllur• Charftsbh advltkns Charft8bl• atiO5 Adivltl undertak•n dlrnct Support costs Total 2025 2025 2025 Op8raJons Enterprfse hub The CawttonlGranviH8 sthemg 47,290 61.597 108,887 C¢)mmunity engagemont 95,039 123,792 218,831 ye pro¥isiDn Empltyment 141330 18438• 327.718 2024 176.788 560,879 737,487 5 Support costs Support costs are apportioned across each aclivity on tim8 spent 8nd represent the followkng.'- 2025 2024 Office costs 27.252 staff admlnL8traUon & HR 8.767 29.124 Infcrnatlon technology 1Q.447 Legal and professlonal feès 28.381 221.892 D8preciabonnoss on dlsposal 79) 3,742 Salarf8s 105,359 298.359 185,389 560,679
SOUTH KILBURN TRUST NOTES TO THE ACCOUNTS IcoKfiNUED) FOR THE YEAR ENDED 31 MARCH 202S 6 N•t in¢omlng resour8 for th• y•ar 2025 2024 Net Incoming resour$ for the year 8r8 Stated after charging.. Oeprsciation Independent Examlnèrs fa8$ 750 2.50CI 883 2.700 TnJ5t8•8 rernun8ratlon and exp•ns•6 and r•lat•d party transactlons. Follng an independent leW ofth8 Charity's goveman¢? a con8ultant was sought to Implement the recommended best pra¢iice and support the Board through a perfod ol organisath"Dnal change. Th8 consultant recruit8d. as 11 85 a expert in this field. is lh¥ $i$ler-in-law of Dne of the Trustep5. KaTen JohTrson Business Con8ultSn9 IKJBCI was engag8d and Ihe related paty statu5 approved by the Board., KJBC received £5,950 for professional seryices (Juring tho year. Ernployees Numbèr ol employees The avef8ge monthly nurnber of emK4oy#es durfng the yèar was.. 2025 Numb•r 2024 Nurnb8r Man8gem8nt Admini$tratiDn Servic8s & operallons 10 Employment ¢osts 2025 2024 Wkges and salarre? Soual security costs Pen$lon costs 123.850 38,159 6.696 257,496 19,435 11,979 Z4
SOUTH KILBURN TRUST NOTES TO THE ACCOUNTS (COPMNUEDI R?R THE YEAR ENDED 31 MARCH 2025 During the year one employee rVed ornolurnenfs behyeen £60.0(K) and £79.999.12024." no •mploy8tr f•eoTv•d emolumènts over £60.ODO}. Ex*ratia payrnents made durfng Ihe y•8r 4mountgd to £1,27312024.' £3.IY)01. K•y Mana9emgnt Pergonn•l Key management P8r50nnel induije all persons that have authonty and responSility for planning, directing and controlling the a¢tivilies ol the ¢harity. The total compensotion paid tu key managemènt Pernn¢1 for 1¢•$ prDvided to the charty was £79,98812024.' £104,545) 25
SOUTH KILBURN TRUST NOTES TO THE ACCOUNTS {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 9 Tanglbltr fixed assets Fixtures & Fiitin9 Office Equiprn8nt Total Cost At 1 April 2024 Additions Disposa15 8.040 8.040 At 31 March 2023 D•pr•clatlon At 1 April 2024 Charge foi the year DIsp0s818 3,038 750 3.038 750 At 31 March 2025 3.788 3.788 N•t book value At 31 M•rch 2025 4250 4350 At 31 March 2024 5.001 5.001 26
SOUTH KILBURN TRUST NOTES TO THE ACCOUNTS ICONTIMUEDI FOR THE YEAR ENDED 31 IIARCH 2025 10 Debtors 2025 2024 Trade debtors Prepayments and accrued Income 17,028 10{552 121.580 11 Cr•dltDrs'. amounts falling due wtthln on• yHr 2025 2024 TT8d& cr•ditOTS 0r creditors Accwals and deferred income 12.187 790 Isoo 77.844 5,335 24,146 15.470 107.325 27
SOUTH KILBURN TRUST OTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 12 R*S¢t• fund8 The incorn8 frJnd$ of the thadty I¥IUd9 rostrfcted funds cornprfsmg the folowing unexpended balances of donations and grants held on trust for 5P8cific purposes.. Movemont In lunds 8alaneè #t In¢omlny 1 Aprll 2024 r¢sourcwd Expondorl Mareh 2025 Sl Augustine'$ 63,631 63.631 83,631 63.631 The Sl AUgUsne'S restmcted funé wa9 comprised of a grant r8rAivod fvom the London Borough of Brent. stt asld8 by the Trust to fijnd Pay & Plaf prowded by the Trust to encourage IoGal residents Snto sp)rts at affordabl? pric9$. Pursuant to an agreement wlth the London Borough of Brent payments out of the funds can only b• mwJ8 for purposes that will fijrther the PrO$10n ol'Pay & Plaf or general commvn1ty use at Ihe St AugU$tlne% Sport5 Hall.
SOUTH KILBURN TRUST NOTES TO THE ACCOUNTS ICONTINUEDI FOR ThTE YEAR ENDED 31 JIIARCH 2025 13 Desl9r4ated fvnds The Inc0rn8 fvnds of Ihe ¢hBrfty ide the followng d8signat8d lur¥Js whleh have been set aside out of unTrslrided lunds ty the Trustees for spe¢ifi¢ purposes.. Mo¥em•nt In lund6 Balance at Incornlng Resource5 Trnnsf•¥# Investsnent• ealanu at 31 1 Aprfl 2024 r•sour¢•s •xpended gain51199ses M4rch 2025 CapltalldevalDpmènt F¥88 Reserve Contingency tund Inve5trnenl fund 2,000.QOO 650,CM)O 12,656 680,WO 1189.3421 1.810,658 650.000 12.656 680,WO. 3.342.656 1189.3421 3.1 $3,314 The Tru$tee5 have reWeV the rtatu and level of the deslgnated fund at the year-end th8 result Ihat the new dosignat811 funds Created in th• PfOMOUS financial year will continue. Whi18 It had b88n anucipated Ihal th8 conting8n¢y fvnd h¥oukJ wluco 8t a Slower rate, the bu8ine8s model to incr8ase incornè from tha now hub has been an¢J will be slower than anltclpated:_ CapitallD8v8loprnent- the development of new pr8mi8e5 And a Communty end Enterprise Hub. Contingenry fund 10 8nalA8 the organis4*'on's rBliaTrce on its legacy fundlng to redu¢& by Inuemenlal percentages dun9 the rIod of the SoLrth lQlbum Regeneration. Free Reserve- Roservos available for disffibution into capital dovglopmenl 8Thd iThv8strngnl. Inv85tm8nl fund- to 8WAJre a long-tefm iTwm8 10 8UStain the Twst in tho long term the aim that Ihi% will brfng tha org8nlsatlon an 8nnu&l rètum. 14 An4ty81s of n•t a¥591$ bglw•?n funds Unr8stricl•d funds Re5trict•d funds Total Fund bak7nees at 31 March 2025 are presenied by,. Tanglble fixed assets Current assets Cr8ditor5'. 8mDunt8 fallirg due witF¥n one year 4.251 3.171.329 115.4771 4.251 3.234,960 115.4771 63,631 3,160,103 83,631 3,223.734
SOUTH KILBURN TRUST NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR EPIDED 31 MARCH 2025 16 R•latsd par11 and controlllng Intorost Related party tr8n8actions that look plAce duAng the year are set out in note 7. Th8 trust was under the control of the Trustees thrwghoutthe current and prevlous pwtod. 30