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2025-12-31-accounts

Company registration number: 07458529 Charity registration number: 1140128

Herne Hill Velodrome Trust

(A company limited by guarantee)

Annual Report and Financial Statements

For the Year Ended 31 December 2025

Accountability Europe Ltd Omnibus Workspace 39 - 41 North Road London N7 9DP

Herne Hill Velodrome Trust

Contents

Page
Reference and Administrative Details 1
Trustees’ Report 2 - 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10 - 16

Herne Hill Velodrome Trust

Reference and Administrative Details

Charity Name:

Herne Hill Velodrome Trust

Charity Registration Number: 1140128 Company Registration Number: 07458529 Charity’s Principal Address: 104 Burbage Road Dulwich SE24 9HE

Charity’s Trustees:

Timothy McInnes (Chair till 1/2/2026) Simon Tucker (appointed on 1/2/2026, Chair from 1/2/2026) David Ross (appointed on 7/9/2025) Padraic O’Shea Christine O’Connell (resigned on 17/8/2025) Alex Base Katie Thornley Lois Barmby Richard Williams Mark Patterson (appointed on 8/4/2025) Lisa Okawa (appointed on 8/4/2025) Angus Dodd (appointed on 1/2/2026)

Accountant:

Accountability Europe Ltd Omnibus Workspace 39 - 41 North Road London N7 9DP

1

Herne Hill Velodrome Trust

Trustees’ Report

For The Year Ended 31 December 2025

The Trustees (who are also directors of the charitable company for the purposes of the Companies Act) present their annual report together with the financial statements for the year ended 31 December 2025.

The Trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director’s Report) Regulations 2013 is not required.

Our Aims and Objectives

Purposes and Aim

Our charity’s purposes, as set out in the objects contained in the company’s Memorandum and Articles of Association, are to:

The aim of our charity is to encourage increased participation in the sport of cycling and the promotion of healthy recreation more generally, and to bring the physical and mental health benefits of these activities to the widest possible community of users. This fully reflects the purposes that the charity was set up to further.

Public Benefit

In setting objectives and planning activities, the board of trustees has paid due regard to the published guidance from the Charity Commission on the public benefit requirement under the Charities Act 2011.

2

Herne Hill Velodrome Trust

Trustees’ Report

For The Year Ended 31 December 2025

This review looks at what we achieved and the outcomes of our work during 2025, helping us to ensure that our aims, objectives and activities remained focused on our stated purposes. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

The Year in Review

Our performance in 2025

Herne Hill Velodrome aims to be an inclusive cycling facility that makes available a wide range of cycling and cycling related activities to a broad community of users, including:

In March 2026 the Trust published our first Impact Report coproduced with an external evaluator and covering 2025. It is publicly available using this link: hhv.patchworks.org.uk. During 2025 nearly 5,000 people attended at least two sessions at the velodrome. Whilst most came from South London, we also attracted users from across England including Birmingham, Exeter and Leeds. We did particularly well at attracting users from lower socio-economic backgrounds, with 36% of adults and 30% of children coming from the most deprived 40% of the population based on the Government’s Index of Multiple Deprivation. We achieved a Net Promoter Score (NPS) of +91 (on a scale of -100 to +100) indicating the vast majority of users would recommend us to a friend - an exceptionally high level of endorsement. We are proud of our inclusive and friendly community, with 94% of respondents reporting feeling welcome at HHV and 88% reporting feeling more connected to their community as a result of participating in HHV activities.

A calculation of the Social Return on Investment that we achieved concluded that HHV generated at least £8 of value for every £1 invested. This included the equivalent of £4.14m pa in improved physical health, £2.53m pa for improved community integration, and £221k pa from volunteering opportunities.

At the end of the year the Herne Hill Velodrome employed eleven members of staff on a full or parttime basis and over the course of 2025 it also worked with a number of part-time coaches. The Velodrome also partners with local cycling clubs and sports charities to facilitate and promote activity.

Financial Review

Total income for the year amounted to £277,381 (2024: £251,023) and total expenditure amounted to £418,678 (2024: £433,568). The net movement in funds amounted to a deficit of £141,297 (2024: deficit of £182,545). The charitable company has ended the year with £1,058,518 in reserves (restricted £38,909 and unrestricted £1,019,609).

3

Herne Hill Velodrome Trust

Trustees’ Report

For The Year Ended 31 December 2025

Reserves Policy

The Trust receives income in the form of grant funding, Gift aid donations from its trading subsidiary, donations from individuals and organisations and from the Friends of Herne Hill Velodrome. Where donations from individuals or organisations are for a specified activity or cost these funds are recorded in restricted funds. Income not subject to these restrictions is recorded in unrestricted funds. The Trust has no designated funds.

The trustees have examined the requirement for free reserves, i.e. those unrestricted funds not invested in tangible fixed assets, designated for specific purposes or otherwise committed. The Trustees aim to maintain unrestricted free reserves of at least 3 months but not more than 6 months operational costs.

The reserves are needed to meet the working capital requirements of the charity and the trustees are confident that at this level they would be able to continue the current activities of the charity in the event of a significant drop in income. The trustees have also considered the extent to which existing activities and expenditure could be curtailed, or fundraising income increase, should the circumstances require it.

Investment Policy

The trustees aim for the charity to generate a surplus each year that will enable it to fund any capital investment as and when this is required in the future and, in particular, works on the track to ensure its continued use. In light of improved performance and sound financial management in recent years the charity presently holds reserves in excess of the requirement for free reserves and so a review was conducted by the trustees in 2022. Steps have since been taken by the trustees to invest the charity’s excess funds.

Day to day operations

The Herne Hill Velodrome Trust operates Herne Hill Velodrome via a wholly owned subsidiary trading company which receives income from track rental, rider sessions, cycle races and sponsorship alongside sales from Jan’s Café. The Trust also receives grant income and donations and has a Friends organisation, the Friends of Herne Hill Velodrome, which raises funds from membership subscriptions, the sale of branded merchandise and fundraising events.

The Friends of Herne Hill Velodrome play a critical role in the activities of Herne Hill Velodrome and they are a valued contributor to the Trust's mission.

Plans for the future

The charity plans continuing the activities outlined above in the forthcoming years subject to satisfactory funding arrangements. Plans are also being developed to both increase and diversify income generated at Herne Hill Velodrome and to increase the extent of our outreach activities with schools, youth organisations and groups that are otherwise underrepresented in cycling, with a renewed focus on off road cycling. After the end of the period covered in this report, we have also started the process of developing a vision and five year strategy to set us on the right course for the next stage of our development. It is hoped this will lead to a strengthening of our delivery against our aim as well as improved financial sustainability.

4

Herne Hill Velodrome Trust

Trustees’ Report

For The Year Ended 31 December 2025

Structure, Governance and Management

Governing Document

The organisation is a charitable company limited by guarantee, incorporated on 2 December 2010 and registered as a charity on 31 January 2011. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.

Recruitment and Appointment of Trustees

Under the requirements of the Memorandum and Articles of Association trustees shall not be required to retire by rotation for the first three years following appointment.

During the fourth year following appointment the following provisions shall apply to all the Trustees:

Different appointment provisions apply to the appointment of one trustee appointed by British Cycling and one trustee appointed by the Friends of Herne Hill Velodrome.

The Board seeks to ensure that its needs are appropriately reflected through the diversity of the trustee body and it takes active steps to enhance the potential pool of trustees, in particular by drawing new trustees from the user base of Herne Hill Velodrome, the wider cycling community and local residents with an interest in the future success of the facility.

A change of chairs

Tim McInnes completed his final term as Chair of Trustees shortly after the end of the period covered in this report in February 2026. Tim was our Chair for seven years, stewarding the Trust through crucial years as we matured from a newly formed charity with a handful of staff into a well established operation with eleven staff members. During that time much was done to put the Trust on a firm footing, including professionalising every aspect of our operations, reinvigorating the board of trustees and building up healthy reserves. Tim also guided the Trust through the Covid pandemic and the velodrome’s bounce back afterwards. At the end of the period covered by this report he led the recruitment of his successor, Simon Tucker, and was on hand to provide a smooth and effective handover. The Trust would not be where it is today without Tim’s hard work and dedication sustained over many years.

5

Herne Hill Velodrome Trust

Trustees’ Report

For The Year Ended 31 December 2025

Statement of Trustees’ Responsibilities

The trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and 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 charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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

The annual report was approved by the Board of trustees on 14th July 2026 and signed on its behalf by:

Simon Tucker Chair

6

Independent Examiner’s Report to the Trustees of

Herne Hill Velodrome Trust

For The Year Ended 31 December 2025

I report to the charity trustees on my examination of the accounts of Herne Hill Velodrome Trust for the year ended 31[st] December 2025.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner’s statement

Since the Company’s gross income exceeded £250,000, I confirm that I am qualified to undertake the examination because I am a member of the ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Aamer Shehzad FCA

Accountability Europe Ltd Omnibus Workspace, 39-41 North Road London, N7 9DP

Date: 14th July 2026

7

Herne Hill Velodrome Trust

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 December 2025

Note
£
Income from:
2
148,416
3
108,165
4
20,800
277,381
4
28,305
Raising funds
Investments
Donations and grants
Charitable activities
Unrestricted
Total income
Expenditure on:		 Note
£
Income from:
2
148,416
3
108,165
4
20,800
277,381
4
28,305
Raising funds
Investments
Donations and grants
Charitable activities
Unrestricted
Total income
Expenditure on:		 Restricted
£
-
-
-		 2025
Total
£
148,416
108,165
20,800
277,381
28,305		 £
140,680
102,145
8,198
Unrestricted		 Restricted
£
-
-
-		 2024
Total
£
140,680
102,145
8,198
277,381 - 251,023 - 251,023
28,305 - 13,904 - 13,904
4
Charitable activities		 383,435 6,938 390,373 384,645 35,019 419,664
Net movement in funds
15
Reconciliation of funds:
Total funds brought forward
Net income/ (expenditure)
for the year
Total funds carried forward
Total expenditure		 418,678
(141,297)
(141,297)
1,199,815
1,058,518
411,740 6,938 398,549 35,019 433,568
(134,359) (6,938) (147,526) (35,019) (182,545)
(134,359)
1,153,968		 (6,938)
45,847		 (147,526)
1,301,494		 (35,019)
80,866		 (182,545)
1,382,360
1,019,609 38,909 1,153,968 45,847 1,199,815

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Notes to the financial statements. The attached notes form part of these financial statements.

8

Herne Hill Velodrome Trust

Balance sheet

Balance sheet
As at 31 December 2025 Company no. 07458529
Note
Fixed assets:
9
10
Current assets:
11
Liabilities:
12
13
14
Cash at bank and in hand
Tangible assets
Debtors
Investment in subsidiary undertaking
The funds of the charity:
Creditors: amounts falling due within one year
Net current assets
Restricted funds
Unrestricted funds:
General funds
Total charity funds
Total net assets		 2025
£
53,048
692,536		 2025
£
333,971
1
333,972
724,546
1,058,518
1,019,609
38,909
1,058,518		 2024
2024
£
£
509,933
1
509,934
24,314
736,800
761,114
(71,232)
689,881
1,199,815
1,153,968
45,847
1,199,815
745,584
(21,038)

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and preparation of accounts.

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

Approved by the Board of trustees on 14th July 2026 and signed on their behalf by:

…………………………………………… Simon Tucker Chair

9

Herne Hill Velodrome Trust

Notes to the financial statements

For the year ended 31 December 2025

1 Accounting policies

Charity information

Herne Hill Velodrome Trust is a company limited by guarantee and a registered charity in England. The registered office is 104 Burbage Road SE24 9HE.

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP FRS 102), and the Companies Act 2006.

The charity is exempted from preparing a cash flow statement due to the exemption available to charities with income less than £500,000.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

Group accounts exemption

The financial statements give information on the charitable company as a single entity. The charitable company is exempt from preparing group accounts because the income of the group does not exceed the threshold of £1m. Further details of investment in subsidiary are given in note 12.

Public benefit entity

The charitable company meets the definition of a public benefit entity under FRS 102.

Going concern

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from grants and donations are recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Costs of raising funds relate to the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the costs of trading activities with a fundraising purpose and their associated support costs.

Expenditure on charitable activities includes the costs of charitable activities that are undertaken to further the purposes of the charity and their associated support costs.

Support costs include the costs of overall direction and administration, comprising salary and overhead costs of the central function, and have been apportioned on the basis consistent with use of

10

Herne Hill Velodrome Trust

Notes to the financial statements

For the year ended 31 December 2025

1 Accounting policies (continued)

Tangible fixed assets

Fixed assets are initially recorded at cost, less accumulated depreciation and any subsequent accumulated impairment losses. Depreciation is provided to write down the cost of each asset to its estimated residual value over its expected useful life at the following rates:

Leasehold and other interests in land and buildings Over the length of the lease All other assets Over five years

Stock

Stock and work-in-progress are valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-

Debtors

Debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and in hand includes all bank balances kept in current accounts and call deposits.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments which are initially recognised at transaction value and subsequently measured at their

2
3
Income from charitable activities
4
Income from investments
Bank interest received
Race income
Grants
Merchandise sales
Rental income
Donations and Gift Aid
Income from donations and grants
Subscriptions		 Unrestricted
£
93,484
54,932
148,416
Unrestricted
£
19,247
28,337
10,581
50,000
108,165
Unrestricted
£
20,800
20,800		 Restricted
£
-
-
-
Restricted
£
-
-
-
-
-
Restricted
£
-
-		 2025
Total
£
93,484
54,932
148,416
2025
Total
£
19,247
28,337
10,581
50,000
108,165
2025
Total
£
20,800		 2024
Total
£
85,964
54,716
140,680
2024
Total
£
19,154
27,334
5,657
50,000
102,145
2024
Total
£
8,198
20,800 8,198

11

Herne Hill Velodrome Trust

Notes to the financial statements

For the year ended 31 December 2025

4 Analysis of expenditure - current year

Direct costs of raising funds
Direct costs of charitable activities
Rent and office running costs
Insurance
Advertising & Marketing
Website and IT costs
Legal and professional
Accountancy fees
Independent examination fee
Bank charges
Depreciation
Support costs
Total expenditure 2025		 Cost of
raising
funds
£
28,305
-
-
-
-
-
-
-
-
-
-
28,305
-
28,305		 Charitable
activities
£
-
8,237
-
-
-
-
-
-
-
-
-
8,237
382,136
390,373		 Support
costs
£
-
-
75,607
20,967
-
309
6,206
2,560
750
808
274,929
382,136
(382,136)
-		 2025
Total
£
28,305
8,237
75,607
20,967
-
309
6,206
2,560
750
808
274,929
418,678
-
418,678		 2024
Total
£
13,159
60,492
62,482
10,125
745
757
18,340
2,565
750
346
263,807
433,568
-
433,568
Of the total expenditure, £411,740 was unrestricted (2024: £398,549) and £6,938 was restricted (2024:
£35,019).

Analysis of expenditure - prior year

Analysis of expenditure - prior year
Direct costs of raising funds
Direct costs of charitable activities
Rent and office running costs
Insurance
Advertising & Marketing
Website and IT costs
Legal and professional
Accountancy fees
Independent examination fee
Bank charges
Depreciation
Support costs
Total expenditure 2024		 Cost of
raising
funds
£
13,159
-
-
-
745
-
-
-
-
-
-
13,904
-
13,904		 Charitable
activities
£
-
60,492
-
-
-
-
-
-
-
-
-
60,492
359,172
419,664		 Support
costs
£
-
-
62,482
10,125
-
757
18,340
2,565
750
346
263,807
359,172
(359,172)
-		 2024
Total
£
13,159
60,492
62,482
10,125
745
757
18,340
2,565
750
346
263,807
433,568
-
433,568

12

Herne Hill Velodrome Trust

Notes to the financial statements

For the year ended 31 December 2025

5 Net income for the year

This is stated after charging: 2025 2024
£ £
Depreciation 274,929 263,807
Independent examination fee (excluding VAT) 750 750

6 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

The total cost of key management personnel including pension and employer NIC were £nil (2024: £nil).

The charity trustees were not paid and did not receive any benefits from employment with the charity in the year (2024: £nil). No charity trustee received payment for professional or other services supplied to the charity (2024: £nil).

7 Related party transactions

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties. There are no payments to and from members and trustees which are part of the normal course of business. There are no related party transactions to disclose for 2025 (2024: none). At 31 December 2025 an amount of £599 was due to (2024: £1,450 due from) Herne Hill Velodrome Trading Ltd, the subsidiary of the Charity.

8 Taxation and legal status of the charity

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

9 Tangible fixed assets

Cost
At the start of the year		 Leasehold
land and
buildings
£
2,365,270		 Furniture
and
equipment
£
130,221		 Motor
Vehicles
£
2,800		 Total
£
2,498,291
Additions in year 90,733 8,235 - 98,968
At the end of the year
Depreciation		 2,456,003 138,456 2,800 2,597,259
At the start of the year 1,890,161 95,397 2,800 1,988,358
At the end of the year
At the end of the year
Charge for the year
At the start of the year
Net book value		 261,439
2,151,600
304,403
475,109		 13,491
108,888
29,568
34,824		 -
2,800
-
-		 274,930
2,263,288
333,971
509,933

All of the above assets are used for charitable purposes.

13

Herne Hill Velodrome Trust

Notes to the financial statements

For the year ended 31 December 2025

10 Investment in subsidiary undertaking

2025 2024
100% share capital of Herne Hill Velodrome Trading Ltd £ £
100 ordinary shares of 1p
Balance at start of the period 1 1
Balance at end of the period 1 1
Herne Hill Velodrome Trading Ltd was incorporated on 30 November 2015, Company registration number
09895276 (England and Wales). The entity is controlled by Herne Hill Velodrome Trust who owns 100% of
Shares in Herne Hill Velodrome Trading Ltd.
100% share capital of Herne Hill Velodrome Trading Ltd
100 ordinary shares of 1p		 2025
£		 2024
£
Balance at start of the period 1 1
Balance at end of the period 1 1
Herne Hill Velodrome Trading Ltd was incorporated on 30 November 2015, Company registration number
09895276 (England and Wales). The entity is controlled by Herne Hill Velodrome Trust who owns 100% of
Shares in Herne Hill Velodrome Trading Ltd.
Profit and Loss
Turnover
Cost of Sales
Administration expenses
(Loss) / profit before Gift Aid		 £
672,421
(170,160)
(476,204)
26,057
31
December
2025		 £
611,845
(160,574)
(436,820)
31
December
2024
14,451
Gift Aid to parent charity (25,951) (15,450)
(Loss) / profit before tax 106 (999)
Tax on (loss) / profit - -
(Loss) / profit for the period 106 (999)
Balance sheet
Tangible assets 2,559 2,614
Debtors
Cash at bank
Creditors
Net assets/ (liabilities)		 52,610
9,918
(64,958)
129		 32,603
18,876
(54,070)
23
Called up Share Capital 1 1
Profit and loss reserves 128 22
Total equity 129 23

14

Herne Hill Velodrome Trust

Notes to the financial statements

For the year ended 31 December 2025

11
Debtors		 2025 2024
Amount due from subsidiary
Other debtors
Accured income
12
Amount due to subsidiary
Deferred income
Prepayments and deposits
Creditors: amounts falling due within one year
Accruals
Other creditors		 £
-
-
43,547
9,501
53,048
2025
£
7,576
599
2,000
10,863
21,038		 £
9,446
1,450
9,220
4,198
24,314
2024
£
14,565
-
1,950
54,717
71,232

13 Analysis of net assets between funds (current year)

£
Unrestricted		 Restricted
£		 Total
funds
£
Tangible fixed assets 333,972 - 333,972
Net current assets
Net assets at the end of the year
Analysis of net assets between funds (prior year)
Tangible fixed assets
Net current assets
Net assets at the end of the year		 685,637
1,019,609
£
509,934
644,034
1,153,968
Unrestricted		 38,909
38,909
Restricted
£
-
45,847
45,847		 724,546
1,058,518
Total
funds
£
509,934
689,881
1,199,815

15

Herne Hill Velodrome Trust

Notes to the financial statements

For the year ended 31 December 2025

14 Movements in funds (current year)

Gates
Velodrome improvement fund
Total funds
Gates
Velodrome improvement fund
Total funds
Restricted funds:
Unrestricted funds:
General funds
Movements in funds (prior year)
Restricted funds:
Unrestricted funds:
General funds
Velodrome works
(see the difference)
Velodrome works
(see the difference)		 At the start
of the year
£
1,153,968
36,909
2,000
6,938
45,847
1,199,815
1,301,494
36,909
2,000
41,957
80,866
1,382,360		 Income
£
277,381
-
-
-
-
277,381
251,023
-
-
-
-
251,023		 Expenditure
£
(411,740)
-
-
(6,938)
(6,938)
(418,678)
(398,549)
-
-
(35,019)
(35,019)
(433,568)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-		 At the
end of
the year
£
1,019,609
36,909
2,000
-
38,909
1,058,518
1,153,968
36,909
2,000
6,938
45,847
1,199,815

Restricted funds are received and allocated for use for a specific restricted purpose.

16