**Registered number: 07472743 Charity number: 1140834**
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2025**
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Chairman's statement**|2|
|**Trustees' report**|3 - 7|
|**Independent auditors' report on the financial statements**|8 - 11|
|**Consolidated statement of financial activities**|12|
|**Consolidated income and expenditure account**|13|
|**Consolidated balance sheet**|14 - 15|
|**Charity balance sheet**|16 - 17|
|**Consolidated statement of cash flows**|18|
|**Notes to the financial statements**|19 - 39|
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025**
|**Trustees**|David Freed, Chair of Trustees (appointed 17 December 2010)|
|---|---|
||Iain Neary (appointed 24 October 2011)|
||Jonathon Baker (appointed 8 July 2014)|
||Neil Way (appointed 4 April 2017)|
||Philip Briggs (appointed 5 October 2020)|
||Avril Baker (appointed 16 November 2022)|
||Lucio Mesquita (appointed 5 April 2023)|
||Jane Britton (appointed 5 April 2023)|
||Helen Holland (appointed 14 July 2024)|
|**Company registered**
**number**
07472743
**Charity registered**
**number**
1140834
**Registered office**
The Park
Daventry Road
Knowle
Bristol
BS4 1DQ
**Independent auditors**
Randall & Payne LLP
Chartered Accountants & Statutory Auditors
Chargrove House
Shurdington Road
Shurdington
Cheltenham
Gloucestershire
GL51 4GA
**Bankers**
National Westminster Bank
290 Wells Road
Knowle
Bristol
BS4 2QA
**Solicitors**
Osborne Clarke
2 Temple Back East
Temple Quay
Bristol
BS1 6EG||
Page 1
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **FOREWORD BY THE CHAIR FOR THE YEAR ENDED 31 MARCH 2025**
The Park Community Centre (The Park) is a unique multi-service hub allowing local residents in one of Bristol’s most deprived areas to access multiple, affordable services in a single, trusted location.
Our mission is clear: to provide a vibrant, cradle-to-grave community hub at the heart of Knowle West—an area that faces significant challenges yet is defined by resilience and determination. We are not just a building; we are a collaborative ecosystem supporting over 50 tenant charities, delivering education, promoting health and wellbeing, and fostering social cohesion for over 12,000 visitors annually.
This year saw our recently transformed main buildings operate at full capacity, demonstrating the vital need for integrated services under one roof. Critically, we also sharpened our focus on the future, most notably by accelerating plans for the refurbishment of our dilapidated sports hall. This £1.5 million initiative is the final and most crucial step in completing The Park’s vision, turning a failing 1970s structure into a gold-standard, citywide inclusive sports hub.
As we look ahead, our strategy is not simply to maintain operations, but to significantly grow our services, our reach and our impact. We look forward to working with our funders and partners to bring these plans to fruition. The success of The Park fundraising campaign will ensure that the Knowle West community, and disabled people across Bristol, have access to safe, modern, and accessible facilities for generations to come.
I am immensely proud of the work of our staff, the dedication of our Trustees, and the powerful partnerships we maintain. We are committed to achieving our strategic goals and building a sustainable future for The Park.
## David Freed
David Freed (Dec 11, 2025 10:46:08 GMT)
David Freed Chair of Trustees Date: 11/12/2025
Page 2
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025**
## **Structure, Governance and Management**
## **Status**
The Park Community Centre Ltd is a company limited by guarantee (registration number 07472743) and a registered charity (number 1140834).
## **Group Structure Explanation**
The Park Community Centre Ltd operates in conjunction with its subsidiary, The Park Education Ltd (PEL). PEL is an independent registered charity (number 1198372) focused on post-16 alternative education for young people with Special Educational Needs and Disabilities (SEND). Both organizations are co-located and experienced by the community as one integrated hub. This report accompanies the consolidated accounts for both The Park Community Centre Ltd and The Park Education Ltd.
## **Governance and Risk Review**
The Charity is managed by an elected board of Trustees. The Park Centre Director, Emma Greenham, reports directly to the Trustees. Monthly management meetings are held with a small group of Trustees who provide operational oversight.
The Trustees regularly consider the risks to which the charity is exposed. To enhance financial security and operational clarity, we are currently in the process of establishing a formal risk register, which will allow us to manage and mitigate risks proactively.
## **Going Concern**
The Trustees have reviewed the financial performance and future forecasts and confirm that it remains appropriate to prepare the financial statements on a going concern basis.
Page 3
## **THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## **Objects and Activities for the Public Benefit**
## **Charitable Objects**
The charity’s objects are:
1. To further or benefit the inhabitants of the local area by advancing education and providing facilities in the interests of social welfare for employment and recreation, and with the object of improving the conditions of life.
2. To maintain, manage and promote the existing community centre.
3. To promote such other charitable purposes as may from time to time be determined.
## **Summary of Main Strategic Objectives:**
- To ensure effective governance and sound financial management, including building our reserves.
- To maintain and improve our premises, with an immediate priority on the sports hall refurbishment.
- To deliver high-quality, vocationally related education and training through The Park Education Ltd.
- To promote healthy lifestyles through accessible sports, fitness, and healthy eating programmes.
- To reinforce local community participation and cohesion, combating isolation.
## **Summary of Main Achievements of the Charity During the Year**
The year was defined by high levels of community engagement, successful education provision, and the strategic preparation for our major capital campaign.
## **Community Impact & Education**
- **Alternative Education Success: The Park Education Ltd (PEL)** provided another successful programme of alternative education for young people aged 16-25 with Special Educational Needs and Disabilities (SEND). Our education programmes, delivered under contract to City of Bristol College, resulted in over 90% of students progressing on to either mainstream college, work experience or full employment.
- **Sports and Wellbeing:** Our strong sports and fitness program continued to thrive, including Parkour, basketball, archery, football, cricket, and badminton.
- **Active Ageing:** The popular Olympic Oldies classes continued with 45 regular attendees, promoting strength and balance for seniors. Over 55s classes continued, including walking hockey, walking netball and dance fit.
- **Health Promotion:** The GP Referral Program continued to support individuals with chronic health conditions or those recovering from illness by providing structured exercise and support in an affordable community setting.
- **Youth Activities:** Youth work activities were mainly delivered through our on-site partner Youth Moves, alongside our very successful SEN Youth Club run weekly for young people attending our alternative education courses.
## **Organisational and Financial Strength**
- **Governance and Compliance:** Retained a 5-star rating following an Environmental Health Inspection. Policies are being reviewed on a quarterly basis and signed off at Board meetings. We are in the process of establishing a formal risk register.
- **Premises & Sustainability:** New, more efficient utilities contracts were secured, resulting in financial savings by reducing electricity capacity for both main buildings.
- **Tenant Management:** Rents and Service charges were increased for all tenants. These increases are guided by the principle of affordability, ensuring we maintain the right mix of charitable and social enterprise tenants to achieve maximum community benefit.
Page 4
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
- **Sports Hall Safety:** Interim works were completed in the Sports Hall to ensure safety and usability pending the major refurbishment plans.
- **Healthy Living & Enterprise:** Our students began planting salad and vegetables to support the on-site animal care centre and help the café. Work experience placements were offered within the café, gym and reception, providing essential enterprise skills to local people, including our education students.
- **Community Partnership:** We continued to work closely with the Knowle West Alliance.
## **Financial Review**
## **Income and Expenditure**
Gross income for the year ending 31 March 2025 was £1,302,501 (2024: £1,379,476) made up of income from charitable activities of £1,264,992 (2024: 1,121,984) and donations and legacies of £37,005 (2024: £250,556).
Expenditure for the year was £1,307,146 (2024: £1,243,197) resulting in a net deficit and reduction in reserves of £4,645 for the year (2024: Surplus of £136,279).
As at 31 March 2025, reserves are: General funds £165,151 Designated funds £7,813,146 Restricted funds £2,615
The Designated Funds are made up of the value of fixed assets (mainly the buildings occupied by The Park) less outstanding loans against the cost of the buildings.
## **General Reserves Policy Statement**
The Trustees consider that holding reserves is an inherent part of The Park's risk management process and is crucial for ensuring financial stability and sustainability.
The charity's approved Reserves Policy is:
- **Target Level** : £325,000, which provides approximately three months of operating costs.
- **Minimum Level** : £170,000, which is sufficient to cover essential wind-up costs and approximately four weeks of core operating costs.
As at 31st March 2025, free reserves stood at approximately £165,151. While this figure is currently below the minimum level, the Trustees are committed to increasing reserves in accordance with this policy. We will achieve this through the planned allocation of future surpluses of income alongside targeted core fundraising, whilst maintaining the charity’s commitment to maximising expenditure on charitable activities.
## **Plans for Future Periods**
Our overall aim is to ensure the continued success and sustainability of The Park for the benefit of our community. This will include developing and building on our successful programmes and services, progressing plans for the refurbishment of our Sports Hall to create gold-standard inclusive sporting facilities, and securing revenue funding to support our activities. Partnerships with tenants, other local organisations, and funders will be fundamental to the achievement of these plans.
Page 5
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## **Strategic Priorities**
- **Refurbishment Of Sports Hall** : Secure the necessary major funding to deliver the Sports Hall Refurbishment.
- **Maximising Income** : Develop and maximise casual lettings, conference facilities, and income from the gym and sports facilities while adhering to our ethos of affordability for core community services.
- **Sustainability** : Apply for grants to address revenue funding requirements and build relationships with individual donors, trusts and foundations.
- **Governance** : Formalise and establish a comprehensive Risk Register. Ensure all policies, particularly those related to the new build, are up to date and current.
- **Community** : Improve baseline data regarding our client base, build upon community links to offer joint services, and host large-scale community events.
- **Youth & Health** : Look at how the new refurbished space can be maximised for play and youth activities. Further develop our sports and fitness courses.
## **Statement of Trustees’ Responsibilities**
The trustees (who are also directors of The Park Community Centre Limited 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 which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements, and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company's auditor is unaware, and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
## **Auditor**
Randall and Payne were appointed as auditor during the period and have expressed their willingness to continue in that capacity.
Page 6
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
Approved by order of the members of the board of Trustees and signed on their behalf by:
## David Freed
David Freed (Dec 11, 2025 10:46:08 GMT)
................................................ **David Freed** (Chair of Trustees)
Date: 11/12/2025
Page 7
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE PARK COMMUNITY CENTRE LIMITED**
## **Opinion**
We have audited the financial statements of The Park Community Centre Limited (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated statement of financial activities, the Consolidated income and expenditure account, the Consolidated balance sheet, the Charity balance sheet, the Consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 March 2025 and of the Group's incoming resources and 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 Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Page 8
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE PARK COMMUNITY CENTRE LIMITED (CONTINUED)**
## **Other information**
The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the Trustees' report is inconsistent in any material respect with the financial statements; or
- the parent charitable company has not kept sufficient accounting records; or
- the parent charitable company financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
Page 9
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE PARK COMMUNITY CENTRE LIMITED (CONTINUED)**
## **Auditors' responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our audit planning process gave consideration to the risk of material misstatement in the financial statements, using the calculated materiality level which itself factored in the nature of the Company's operations and the interpreted levels of inherent and control risk.
In assessing the risk of fraud we reviewed management's own assessment of potential for fraud within the entity and reviewed judgements made by management to identify possible bias, in addition to any opportunity and incentive for fraud that are in inherent in the nature of the Company's operations.
Our detailed testing included review of accounting estimates and judgements and validation of prime ledger entries.
We confirmed our knowledge of the legal and regulatory environment of the entity through discussions with management. We analysed all information available to us in respect of relevant laws and regulations, including the Companies Act 2006, the Charities Act 2011, UK GAAP and relevant UK tax legislation and enquired with management as to any possible breaches in the aforementioned.
We agreed the accuracy of the financial statements to the supporting management information provided by the client and tested individually on a sample basis the income and expenditure in the financial statements to consider the business rationale behind the transactions and the accuracy of the financial records.
Our audit testing did not identify and issues in respect of the matters listed above, including fraud.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
Page 10
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE PARK COMMUNITY CENTRE LIMITED (CONTINUED)**
## **Use of our report**
This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditors' 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 members, as a body, for our audit work, for this report, or for the opinions we have formed.
## **Benjamin Burch ACA (Senior stautory auditor) Randall & Payne LLP**
Chartered Accountants & Statutory Auditors Chargrove House Shurdington Road Shurdington Cheltenham Gloucestershire GL51 4GA
Date: 11/12/2025
Randall & Payne LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
Page 11
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025**
|**Note**
**Income from:**
Donations and legacies
3
Charitable activities
4
Investments
5
Other income
6
**Total income**
**Expenditure on:**
Charitable activities
7
**Total expenditure**
**Net income/(expenditure)**
Transfers between funds
17
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Restricted**
**funds**
**2025**
**£**
**31,888**
**4,500**
**-**
**-**
**36,388**
**20,570**
**20,570**
**15,818**
**(21,266)**
**(5,448)**
**8,063**
**(5,448)**
**2,615**|**Unrestricted**
**funds**
**2025**
**£**
**5,117**
**1,260,492**
**504**
**-**
**1,266,113**
**1,286,576**
**1,286,576**
**(20,463)**
**21,266**
**803**
**7,977,494**
**803**
**7,978,297**|**Total**
**funds**
**2025**
**£**
**37,005**
**1,264,992**
**504**
**-**
**1,302,501**
**1,307,146**
**1,307,146**
**(4,645)**
**-**
**(4,645)**
**7,985,557**
**(4,645)**
**7,980,912**|_Total_
_funds_
_2024_
_£_
_250,555_
_1,121,984_
_465_
_6,472_|
|---|---|---|---|---|
|||||_1,379,476_|
|||||_1,243,197_|
|||||_1,243,197_|
|||||_136,279_
_-_|
|||||_136,279_|
|||||_7,849,278_
_136,279_|
|||||_7,985,557_|
Page 12
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025**
|**Note**
**Gross income in the reporting period**
Less: Total expenditure
**Net expenditure/(income) for the reporting period**|**Total funds**
**2025**
**£**
**1,302,500**
**(1,307,146)**
**(4,646)**|_Total funds_
_2024_
_£_
_1,379,477_
_(1,243,197)_
_136,280_|
|---|---|---|
The notes on pages 19 to 39 form part of these financial statements.
Page 13
**(A company limited by guarantee) REGISTERED NUMBER: 07472743**
## **THE PARK COMMUNITY CENTRE LIMITED**
## **CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2025**
|**Note**
**Fixed assets**
Tangible assets
12
**Current assets**
Debtors
13
Cash at bank and in hand
**Current liabilities**
Creditors: amounts falling due within one
year
14
**Net current assets**
**Total assets less current liabilities**
Creditors: amounts falling due after more
than one year
15
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Restricted funds:
Restricted funds
17
Designated funds
17
General funds
17
Total unrestricted funds
17
**Total funds**|**58,834**
**268,564**
**327,398**
**(189,128)**
**2,615**
**7,813,146**
**165,150**|**2025**
**£**
**8,810,766**
**8,810,766**
**138,270**
**8,949,036**
**(968,125)**
**7,980,911**
**7,980,911**
**7,978,296**
**7,980,911**|_81,979_
_195,168_
_277,147_
_(137,181)_
_8,063_
_7,843,213_
_134,281_|_2024_
_£_
_8,843,212_
_8,843,212_
_139,966_
_8,983,178_
_(997,621)_
_7,985,557_
_7,985,557_
_7,977,494_
_7,985,557_|
|---|---|---|---|---|
Page 14
## **THE PARK COMMUNITY CENTRE LIMITED**
**(A company limited by guarantee) REGISTERED NUMBER: 07472743**
## **CONSOLIDATED BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025**
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
However, an audit is required in accordance with section 151 of the Charities Act 2011.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
## David Freed
David Freed (Dec 11, 2025 10:46:08 GMT) ................................................
**David Freed** (Chair of Trustees)
Date: 11/12/2025
The notes on pages 19 to 39 form part of these financial statements.
Page 15
## **THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee) REGISTERED NUMBER: 07472743**
## **CHARITY BALANCE SHEET AS AT 31 MARCH 2025**
|**Note**
**Fixed assets**
Tangible assets
12
**Current assets**
Debtors
13
Cash at bank and in hand
**Current liabilities**
Creditors: amounts falling due within one
year
14
**Net current assets**
**Total assets less current liabilities**
Creditors: amounts falling due after more
than one year
15
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Restricted funds:
Restricted funds
17
Unrestricted funds
Designated funds
17
General funds
17
Total unrestricted funds
17
**Total funds**|**126,819**
**168,913**
**295,732**
**(160,905)**
**2,616**
**7,813,146**
**160,973**|**2025**
**£**
**8,810,032**
**8,810,032**
**134,827**
**8,944,859**
**(968,124)**
**7,976,735**
**7,976,735**
**7,974,119**
**7,976,735**|_99,376_
_145,524_
_244,900_
_(111,663)_
_8,063_
_7,843,213_
_122,219_|_2024_
_£_
_8,837,879_
_8,837,879_
_133,237_
_8,971,116_
_(997,621)_
_7,973,495_
_7,973,495_
_7,965,432_
_7,973,495_|
|---|---|---|---|---|
Page 16
## **THE PARK COMMUNITY CENTRE LIMITED**
**(A company limited by guarantee) REGISTERED NUMBER: 07472743**
## **CHARITY BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025**
The Charity's net movement in funds for the year was _£_ 3,240 _(2024 - £133,994)_ .
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
However, an audit is required in accordance with section 151 of the Charities Act 2011.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
## David Freed
David Freed (Dec 11, 2025 10:46:08 GMT)
................................................
## **David Freed**
(Chair of Trustees)
Date: 11/12/2025
The notes on pages 19 to 39 form part of these financial statements.
Page 17
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025**
|**Cash flows from operating activities**
Net cash used in operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Investment income
Increase / (decrease) in capital creditors and deferred income
**Net cash used in investing activities**
**Cash flows from financing activities**
**Net cash provided by financing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**|**2025**
**£**
**119,534**
**(46,642)**
**504**
**-**
**(46,138)**
**-**
**73,396**
**195,168**
**268,564**|_2024_
_£_
_89,607_
_(20,173)_
_465_
_(155,000)_
**(174,708)**
**-**
**(85,101)**
_280,269_
_195,168_|
|---|---|---|
## **Cashflow Restrictions**
Charity law prohibits the use of net cash inflows on any endowed or other restricted fund to offset net cash outflows on any fund outside its own objects, except on special authority. In practice, this restriction has not had any effect on cash flows for the year.
The notes on pages 19 to 39 form part of these financial statements
Page 18
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **1. General information**
The Park Community Centre Limited is a registered charity and a company limited by guarantee and is governed by its Memorandum and Articles of Association, the Companies Act 2006 and the Charities Act 2011. Its company registration number is 07472743 and its charity number is 1140834.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Park Community Centre Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The Consolidated statement of financial activities (SOFA) and Consolidated balance sheet consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.
The Charity has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of financial activities in these financial statements.
## **2.2 Going concern**
The Trustees believe the Charity is a going concern and the financial statements have been prepared on this basis.
The Trustees recognise that the activity in the last 12 months has been signficant and have performed budgets and forecasts to model the anticipated future financial performance of the Charity inline with its current commitments and known income streams. The Charity entered into a loan agreement for £1,000,000 in prior years. Under the original loan agreement the first repayment of £500,000 was due in February 2025. The charity have since agreed a new repayment structure which consists of smaller monthly repayments of £7,179 including 6% interest from 1st March 2025 up until the final repayment of £874,295 in February 2029.
Since re-opening the Community Centre in 2022 after completion of the capital works, letting income has gradually increased inline with expectations. The monies received are being, and will be, carefully monitored by the Charity's Finance team to ensure that they are used in the best way possible to ensure the Charity remains a going concern and that it can meet its long term financing commitments as they fall due. However, the Trustees recognise that further work in this area is required in order to ensure that the income continues to grow in light of increasing costs of running the organisation and inflation.
Based on the above, the financial statements are prepared on the assumption that the entity is a going concern.
Page 19
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **2. Accounting policies (continued)**
## **2.3 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.
Grants are included in the Consolidated statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects.
Investment income is included on a receivable basis.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
Income from donations is included in income when these are receivable, except as follows: I. When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those period;
II. When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-conditions have been met.
## **2.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Page 20
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **2. Accounting policies (continued)**
## **2.4 Expenditure (continued)**
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. Governance costs are included within support costs.
All expenditure is inclusive of irrecoverable VAT.
## **2.5 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.6 Tangible fixed assets and depreciation**
Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using both the straight line method and reducing balance method depending on asset class..
Depreciation is provided on the following bases:
- Freehold property Depreciated over 150 years - Plant, machinery & equipment 20-33% straight line - Leasehold improvement 10% straight line
## **2.7 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.8 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 21
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **2. Accounting policies (continued)**
## **2.9 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated statement of financial activities as a finance cost.
## **2.10 Financial instruments**
The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.11 Operating leases**
Rentals paid under operating leases are charged to the Consolidated statement of financial activities on a straight-line basis over the lease term.
## **2.12 Pensions**
The Charity contributes to defined contribution pension schemes and a multi-employer defined benefit scheme. Contributions payable to the charity's pension schemes are charged to the Statement of Financial Activities in the period to which they relate.
## **2.13 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 22
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **3. Income from donations and legacies**
|Donations
Grants
_Total 2024_|**Restricted**
**funds**
**2025**
**£**
22,440
9,448
31,888
_50,304_|**Unrestricted**
**funds**
**2025**
**£**
5,117
-
5,117
_200,252_|**Total**
**funds**
**2025**
**£**
**27,557**
**9,448**
**37,005**
_250,556_|_Total_
_funds_
_2024_
_£_
_216,713_
_33,843_|
|---|---|---|---|---|
|||||_250,556_|
||||||
## **4. Income from charitable activities**
|Income from gym
Miscellaneous
Education
General rent
Casual income
Cafe income
_Total 2024 as restated_|**Restricted**
**funds**
**2025**
**£**
-
-
4,500
-
-
-
4,500
_-_|**Unrestricted**
**funds**
**2025**
**£**
33,118
58,823
563,124
422,129
96,551
86,747
1,260,492
_1,121,984_|**Total**
**funds**
**2025**
**£**
**33,118**
**58,823**
**567,624**
**422,129**
**96,551**
**86,747**
**1,264,992**
_1,121,984_|_As restated_
_Total_
_funds_
_2024_
_£_
_26,720_
_25,140_
_494,096_
_399,907_
_91,687_
_84,434_|
|---|---|---|---|---|
|||||_1,121,984_|
||||||
Page 23
**THE PARK COMMUNITY CENTRE LIMITED**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **5. Investment income**
Interest received _Total 2024_
|**Unrestricted**
**funds**
**2025**
**£**
504
_465_|**Total**
**funds**
**2025**
**£**
**504**
_465_|_Total_
_funds_
_2024_
_£_
_465_|
|---|---|---|
||||
## **6. Other incoming resources**
|Insurance claim receivable
_Total 2024_|**Unrestricted**
**funds**
**2025**
**£**
-
_6,472_|**Total**
**funds**
**2025**
**£**
**-**
_6,472_|_Total_
_funds_
_2024_
_£_
_6,472_|
|---|---|---|---|
## **7. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|The Park
The Park Education Limited
Gym
Café
_Total 2024_|**Restricted**
**funds**
**2025**
**£**
20,570
-
-
-
20,570
_11,543_|**Unrestricted**
**funds**
**2025**
**£**
697,482
435,502
23,812
129,780
1,286,576
_1,231,654_|**Total**
**2025**
**£**
**718,052**
**435,502**
**23,812**
**129,780**
**1,307,146**
_1,243,197_|_Total_
_2024_
_£_
_711,430_
_392,873_
_22,639_
_116,255_|
|---|---|---|---|---|
|||||_1,243,197_|
||||||
Page 24
**THE PARK COMMUNITY CENTRE LIMITED**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **8. Analysis of expenditure by activities**
|The Park
The Park Education Limited
Gym
Café
_Total 2024_|**Activities**
**undertaken**
**directly**
**2025**
**£**
278,649
402,827
20,627
72,702
774,805
_732,731_|**Support**
**costs**
**2025**
**£**
439,404
32,675
3,184
57,078
532,341
_510,466_|**Total**
**funds**
**2025**
**£**
**718,053**
**435,502**
**23,811**
**129,780**
**1,307,146**
_1,243,197_|_Total_
_funds_
_2024_
_£_
_711,430_
_392,873_
_22,639_
_116,255_|
|---|---|---|---|---|
|||||_1,243,197_|
||||||
Page 25
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **8. Analysis of expenditure by activities (continued)**
## **Analysis of direct costs**
|Staff costs
Depreciation
Events
Educational
resources
Recruitment and
training
Equipment costs
Marketing and
advertising
Irrecoverable
VAT
Intercompany
donation
_Total 2024_|**The Park**
**2025**
**£**
224,841
-
6,361
-
-
4,631
38,392
4,424
-
278,649
_295,036_|**The Park**
**Education**
**Limited**
**2025**
**£**
352,876
4,599
2,165
42,540
647
-
-
-
-
402,827
_349,968_|**Gym**
**2025**
**£**
18,023
-
-
-
-
2,604
-
-
-
20,627
_22,027_|**Café**
**2025**
**£**
68,919
-
3,601
-
-
149
32
-
-
72,701
_65,701_|**Total**
**funds**
**2025**
**£**
**664,659**
**4,599**
**12,127**
**42,540**
**647**
**7,384**
**38,424**
**4,424**
**-**
**774,804**
_732,731_|_Total_
_funds_
_2024_
_£_
_649,194_
_4,599_
_9,503_
_41,410_
_1,258_
_9,681_
_3,104_
_13,982_
_-_|
|---|---|---|---|---|---|---|
|||||||_732,731_|
||||||||
Page 26
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **8. Analysis of expenditure by activities (continued)**
## **Analysis of support costs**
|Staff costs
Supplies
Premises cost
Misc costs
General office
Communications
and IT
Finance costs
Membership
subscriptions
Professional fees
Depreciation
_Total 2024 as_
_restated_|**The Park**
**2025**
**£**
-
3,166
258,377
696
4,902
-
49,232
4,240
46,399
72,392
439,404
_420,654_|**The Park**
**Education**
**Limited**
**2025**
**£**
-
-
32,675
-
-
-
-
-
-
-
32,675
_32,996_|**Gym**
**2025**
**£**
-
-
1,067
-
-
-
675
-
-
1,442
3,184
_1,662_|**Café**
**2025**
**£**
-
54,404
979
-
19
-
920
100
-
656
57,078
_55,155_|**Total**
**funds**
**2025**
**£**
**-**
**57,570**
**293,098**
**696**
**4,921**
**-**
**50,827**
**4,340**
**46,399**
**74,490**
**532,341**
_510,466_|_As restated_
_Total_
_funds_
_2024_
_£_
_649_
_56,083_
_269,331_
_16,494_
_7,139_
_327_
_48,979_
_4,483_
_32,285_
_74,696_|
|---|---|---|---|---|---|---|
|||||||_510,466_|
||||||||
## **9. Auditors' remuneration**
||**2025**|_2024_|
|---|---|---|
||**£**|_£_|
|Fees payable to the Charity's auditor for the audit of the Charity's annual|||
|accounts|**7,500**|_6,810_|
Page 27
**THE PARK COMMUNITY CENTRE LIMITED**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **10. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes|**Group**
**2025**
**£**
**615,708**
**39,229**
**9,722**
**664,659**|_Group_
_2024_
_£_
_599,990_
_36,964_
_12,240_
_649,194_|**Charity**
**2025**
**£**
**296,211**
**12,846**
**2,727**
**311,784**|_Charity_
_2024_
_£_
_323,024_
_13,694_
_5,785_|
|---|---|---|---|---|
||||||
|||||_342,503_|
No employee received emoluments of more than £60,000.
The average number of persons employed by the Charity during the year was as follows:
||**Group**|_Group_|**Charity**|_Charity_|
|---|---|---|---|---|
||**2025**|_2024_|**2025**|_2024_|
||**No.**|_No._|**No.**|_No._|
|Employees|**36**|_37_|**20**|_21_|
No employee received remuneration amounting to more than £60,000 in either year.
The average weekly number of employees during the year was 36 (2024: 37), calculated on the basis of average headcount. The total employment benefits received by key management personnel including employer national insurance and employer pension contributions were £115,208, (2024: £108,469).
## **11. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2024 - £NIL)_ .
During the year ended 31 March 2025, no Trustee expenses have been incurred _(2024 - £NIL)_ .
Page 28
**THE PARK COMMUNITY CENTRE LIMITED**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **12. Tangible fixed assets**
## **Group**
|**Cost or valuation**
At 1 April 2024
Additions
At 31 March 2025
**Depreciation**
At 1 April 2024
Charge for the year
At 31 March 2025
**Net book value**
At 31 March 2025
_At 31 March 2024_|**Long-term**
**leasehold**
**property**
**£**
**8,956,096**
**44,761**
**9,000,857**
**143,451**
**72,393**
**215,844**
**8,785,013**
_8,812,645_|**Plant and**
**machinery**
**£**
**157,107**
**1,881**
**158,988**
**131,871**
**2,098**
**133,969**
**25,019**
_25,236_|**Office**
**equipment**
**£**
**13,798**
**-**
**13,798**
**8,465**
**4,599**
**13,064**
**734**
_5,333_|**Total**
**£**
**9,127,001**
**46,642**|
|---|---|---|---|---|
|||||**9,173,643**|
|||||**283,787**
**79,090**|
|||||**362,877**|
|||||**8,810,766**|
|||||_8,843,214_|
## **Charity**
|**Cost or valuation**
At 1 April 2024
Additions
At 31 March 2025|**Long-term**
**leasehold**
**property**
**£**
**8,956,096**
**44,761**
**9,000,857**|**Plant and**
**machinery**
**£**
**157,107**
**1,881**
**158,988**|**Total**
**£**
**9,113,203**
**46,642**|
|---|---|---|---|
||||**9,159,845**|
Page 29
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **12. Tangible fixed assets (continued)**
## **Charity (continued)**
|**Depreciation**
At 1 April 2024
Charge for the year
At 31 March 2025
**Net book value**
At 31 March 2025
_At 31 March 2024_
**Debtors**
**Due within one year**
Trade debtors
Amounts owed by charity subsidiary
Other debtors
Prepayments and accrued income|**Group**
**2025**
**£**
**34,182**
**-**
**7,310**
**17,342**
**58,834**||**Long-term**
**leasehold**
**property**
**£**
**143,451**
**72,393**
**215,844**
**8,785,013**
_8,812,645_
_Group_
_2024_
_£_
_17,755_
_-_
_47,735_
_16,489_
_81,979_||**Plant and**
**machinery**
**£**
**131,871**
**2,098**
**133,969**
**25,019**
_25,236_
**Charity**
**2025**
**£**
**30,782**
**71,385**
**7,310**
**17,342**||**Total**
**£**
**275,322**
**74,491**
**349,813**
**8,810,032**
_8,837,881_
_Charity_
_2024_
_£_
_14,355_
_20,797_
_47,735_
_16,489_|
|---|---|---|---|---|---|---|---|
|||||||||
|||||||||
|||||||||
|||||||||
|||||||||
||||||**126,819**||_99,376_|
## **13. Debtors**
During the prior year £15,000 due to the parent charity was waived by The Park Community Centre. The amount waived was recorded as donation income.
Page 30
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **14. Creditors: Amounts falling due within one year**
|Other loans
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income|**Group**
**2025**
**£**
**36,481**
**48,615**
**19,839**
**901**
**83,292**
**189,128**|_Group_
_2024_
_£_
_11,364_
_34,895_
_45,250_
_907_
_44,765_
_137,181_|**Charity**
**2025**
**£**
**29,496**
**46,094**
**14,194**
**901**
**70,220**
**160,905**|_Charity_
_2024_
_£_
_2,379_
_34,531_
_40,764_
_908_
_33,081_|
|---|---|---|---|---|
|||||_111,663_|
## **15. Creditors: Amounts falling due after more than one year**
||**Group**|_Group_|**Charity**|_Charity_|
|---|---|---|---|---|
||**2025**|_2024_|**2025**|_2024_|
||**£**|_£_|**£**|_£_|
|Other loans|**968,125**|_997,621_|**968,124**|_997,621_|
The Charity is party to a loan agreement with City Funds LP operating through CF General Partner Ltd in relation to financing the construction of the new community centre as a modern community hub facility.
The term of the loan is 8 years. The terms of the loan state that interest is not charged for the first 12 months after drawdown and with the next 12 months being at a fixed interest rate of 9.00% per annum. Thereafter, fixed interest is applied at the rate of 4.5% per annum.
The loan is secured with fixed and floating charges covering all the property and undertakings of the Charity.
The charity has agreed a new repayment structure which consists of monthly payments of £7,179, including 6% interest, from 1st March 2025 up until the final repayment of £874,295 in February 2029. The loan repayment amount of £2,379 excluding interest has been included within other loans in current liabilities.
Page 31
**THE PARK COMMUNITY CENTRE LIMITED**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **16. Financial instruments**
||**Group**|_Group_|**Charity**|_Charity_|
|---|---|---|---|---|
||**2025**|_2024_|**2025**|_2024_|
||**£**|_£_|**£**|_£_|
|**Financial assets**|||||
|Financial assets measured at fair value|||||
|through income and expenditure|**268,564**|_195,168_|**168,913**|_145,524_|
Financial assets measured at fair value through income and expenditure comprise cash at bank and in hand.
Page 32
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **17. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted funds**
**Designated funds**
Fixed asset fund - owned
Leasehold improvements
**General funds**
The Park Community Centre
The Park Education
**Total Unrestricted funds**|**Balance at 1**
**April 2024**
**£**
**18,971**
**7,824,242**
**7,843,213**
**Balance at 1**
**April 2024**
**£**
**122,219**
**12,062**
**134,281**
**7,977,494**|**Income**
**£**
**-**
**-**
**-**
**Income**
**£**
**701,868**
**564,244**
**1,266,112**
**1,266,112**|**Expenditure**
**£**
**(6,696)**
**(72,393)**
**(79,089)**
**Expenditure**
**£**
**(635,358)**
**(572,129)**
**(1,207,487)**
**(1,286,576)**|**Transfers**
**in/out**
**£**
**1,881**
**47,141**
**49,022**
**Transfers**
**in/out**
**£**
**(27,756)**
**-**
**(27,756)**
**21,266**|**Balance at**
**31 March**
**2025**
**£**
**14,156**
**7,798,990**|
|---|---|---|---|---|---|
||||||**7,813,146**|
||||||**Balance at**
**31 March**
**2025**
**£**
**160,973**
**4,177**|
||||||**165,150**|
||||||**7,978,296**|
Page 33
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **17. Statement of funds (continued)**
|**Restricted funds**
Other restricted
Grateful Society
Therapies for learners - SJP
Charitable Foundation
Boxercise Sports England
Food vouchers
Alpkit
Summer Fayre - John James
Building works
BCC Community Connections
Pensioner's Party
John James - Water sports
and mindfulness
**Total of funds**|**Balance at 1**
**April 2024**
**£**
**508**
**1,136**
**-**
**3,767**
**2,402**
**250**
**-**
**-**
**-**
**-**
**-**
**8,063**
**7,985,557**|**Income**
**£**
**-**
**7,000**
**2,500**
**-**
**1,198**
**-**
**850**
**21,290**
**400**
**1,150**
**2,000**
**36,388**
**1,302,500**|**Expenditure**
**£**
**-**
**(6,429)**
**(2,500)**
**(3,767)**
**(3,600)**
**(250)**
**(850)**
**-**
**-**
**(1,174)**
**(2,000)**
**(20,570)**
**(1,307,146)**|**Transfers**
**in/out**
**£**
**(508)**
**-**
**-**
**-**
**-**
**-**
**-**
**(21,290)**
**-**
**532**
**-**
**(21,266)**
**-**|**Balance at**
**31 March**
**2025**
**£**
**-**
**1,707**
**-**
**-**
**-**
**-**
**-**
**-**
**400**
**508**
**-**|
|---|---|---|---|---|---|
||||||**2,615**|
||||||**7,980,911**|
Page 34
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **17. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted funds**
**Designated funds**
Fixed asset fund - owned
Leasehold improvements
**General funds**
The Park Community Centre
The Park Education
**Total Unrestricted funds**|_Balance at_
_1 April 2023_
_£_
_28,150_
_7,707,586_
_7,735,736_
_Balance at_
_1 April 2023_
_£_
_102,232_
_9,776_
_112,008_
_7,847,744_|_Income_
_£_
_-_
_155,000_
_155,000_
_Income_
_£_
_697,535_
_510,481_
_1,208,016_
_1,363,016_|_Expenditure_
_£_
_(11,379)_
_(67,916)_
_(79,295)_
_Expenditure_
_£_
_(647,975)_
_(505,996)_
_(1,153,971)_
_(1,233,266)_|_Transfers_
_in/out_
_£_
_2,200_
_29,572_
_31,772_
_Transfers_
_in/out_
_£_
_(29,572)_
_(2,200)_
_(31,772)_
_-_|_Balance at_
_31 March_
_2024_
_£_
_18,971_
_7,824,242_|
|---|---|---|---|---|---|
||||||_7,843,213_|
||||||_Balance at_
_31 March_
_2024_
_£_
_122,220_
_12,061_|
||||||_134,281_|
||||||_7,977,494_|
Page 35
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **17. Statement of funds (continued)**
|**Restricted funds**
Other restricted
Grateful Society
Boxercise Sports England
Food vouchers
Alpkit
**Total of funds**|_Balance at_
_1 April 2023_
_£_
_533_
_1,000_
_-_
_-_
_-_
_1,533_
_7,849,277_|_Income_
_£_
_2,268_
_7,020_
_4,160_
_2,763_
_250_
_16,461_
_1,379,477_|_Expenditure_
_£_
_(2,293)_
_(6,884)_
_(393)_
_(361)_
_-_
_(9,931)_
_(1,243,197)_|_Transfers_
_in/out_
_£_
_-_
_-_
_-_
_-_
_-_
_-_
_-_|_Balance at_
_31 March_
_2024_
_£_
_508_
_1,136_
_3,767_
_2,402_
_250_|
|---|---|---|---|---|---|
||||||_8,063_|
||||||_7,985,557_|
## **18. Summary of funds**
## **Summary of funds - current year**
|Designated funds
General funds
Restricted funds|**Balance at 1**
**April 2024**
**£**
**7,843,213**
**134,281**
**8,063**
**7,985,557**|**Income**
**£**
**-**
**1,266,112**
**36,388**
**1,302,500**|**Expenditure**
**£**
**(79,089)**
**(1,207,487)**
**(20,570)**
**(1,307,146)**|**Transfers**
**in/out**
**£**
**49,022**
**(27,756)**
**(21,266)**
**-**|**Balance at**
**31 March**
**2025**
**£**
**7,813,146**
**165,150**
**2,615**|
|---|---|---|---|---|---|
||||||**7,980,911**|
Page 36
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **18. Summary of funds (continued)**
## **Summary of funds - prior year**
|Designated funds
General funds
Restricted funds|_Balance at_
_1 April 2023_
_£_
_7,735,736_
_112,008_
_1,533_
_7,849,277_|_Income_
_£_
_155,000_
_1,208,016_
_16,461_
_1,379,477_|_Expenditure_
_£_
_(79,295)_
_(1,153,971)_
_(9,931)_
_(1,243,197)_|_Transfers_
_in/out_
_£_
_31,772_
_(31,772)_
_-_
_-_|_Balance at_
_31 March_
_2024_
_£_
_7,843,213_
_134,281_
_8,063_|
|---|---|---|---|---|---|
||||||_7,985,557_|
## **Restricted Funds**
_Bristol City Council_ – capital grant for approved capital works. The transfer in the year represents capital additions spent out of these restricted funds.
_Pensioners Christmas Party_ – The Park organises, provided and caters for the annual pensioners Christmas party. This free event invites 100 local OAP’s to a Christmas dinner and entertainment and is organised solely by the staff and students at The Park.
_Other restricted_ – These are a collection of several funds from different organisations restricted for similar purposes and tracked separately. The funds are restricted to provide activities for older people, dependent on the restriction. These include tea dances and bingo.
_Grateful Society_ – This fund represents donations received to provide Tea Dances for the local community.
## **Designated Funds**
Fixed assets fund and Leasehold improvements fund – Together they represent the total net book value of fixed assets less the loans outstanding against them designated aside from general funds.
Page 37
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **19. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
**Total**|**Restricted**
**funds**
**2025**
**Unrestricted**
**and**
**designated**
**funds**
**2025**
**£**
**£**
-
8,810,766
2,615
324,783
-
(189,128)
-
(968,125)
2,615
7,978,296|**Total**
**funds**
**2025**
**£**
**8,810,766**
**327,398**
**(189,128)**
**(968,125)**
**7,980,911**|
|---|---|---|
The Trustees have designated an asset reserve fund which is equal to the value of the total fixed assets less the loans outstanding against them. The Trustees have presented the split of net assets in this way as the loan was entered into by the Charity in order to fund the capital expansion project and is secured on the building that has been constructed.
## **20. Pension commitments**
The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £9,722 (2024: £12,240). An amount of £2,265 (2024: £2,160) is payable by the Charity at the year end and is included within Creditors.
The Charity is paying into a defined benefit plan for three employees. The Trustees are aware that there is a deficit on the overall defined benefit plan. However, The Park is ahead in its contributions and is being asked to reduce its monthly contributions going forwards. The Trustees consider that there is not enough information available to seperate The Park's assets and liabilities it may be possible in the future years to include this information in the financial statements.
## **21. Members' liability**
The Charitable company is limited by guarantee and as such has no share capital. In the event of the Charitable company being wound up the liability of the members is limited to £1 each.
Page 38
**THE PARK COMMUNITY CENTRE LIMITED (A company limited by guarantee)**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **22. Related party transactions**
At 31 March 2025 The Park Education Limited owed £71,384 (2024: £20,797) to The Park Community Centre Limited. The Park Education Limited was charged rent and other charges of £137,783 (2024: £113,514) during the year to 31 March 2025.
During the year, the Park Community Centre Limited received £1,000 (2024: £Nil) in donations from Deeley Freed, a company in which David Freed, Philip Briggs and Iain Neary are Directors.
Page 39
## The Park Community Centre - Financial Statements - Signing copy
## Final Audit Report
2025-12-11
Created: 2025-12-10 By: Ryszard Szarszewski (admin@randall-payne.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAUlmv5znrYMvhyt4ogil6EOcfFg4eclzg
## "The Park Community Centre - Financial Statements - Signing c opy" History
Document created by Ryszard Szarszewski (admin@randall-payne.co.uk)
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## Document emailed to David Freed (davidfreed@deeleyfreed.co.uk) for signature
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## Document e-signed by Benjamin Burch (benjamin.burch@randall-payne.co.uk)
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## Agreement completed.
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