Docusign Envelope ID: 99D9C2D9-DE61-4A0A-9D29-517A8B2E3FB9
REGISTERED COMPANY NUMBER: 07563118 (England and Wales) REGISTERED CHARITY NUMBER: 1143375 (England and Wales)
THE BLACK PRINCE TRUST (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
Cox Costello & Horne Chartered Accountants and Tax Advisors Batchworth Lock House 99 Church Street, Rickmansworth WD3 1JJ
Docusign Envelope ID: 99D9C2D9-DE61-4A0A-9D29-517A8B2E3FB9
THE BLACK PRINCE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 to 9 |
| Independent Examiner's Report | 10 |
| Statement of Financial Activities | 11 |
| Balance Sheet | 12 |
| Cash Flow Statement | 13 |
| Notes to the Financial Statements | 14 to 23 |
Docusign Envelope ID: 99D9C2D9-DE61-4A0A-9D29-517A8B2E3FB9
THE BLACK PRINCE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2025
TRUSTEES I G Macfarlane C P Oliver L Martin K Harrison R S A Mortier (resigned 28.6.24) L Thomson C A Woodhouse H A Aden (resigned 28.6.24) L M Harrison (appointed 25.4.24) R D Alleyne L R Heria I Issa (appointed 28.6.24)
Each Trustee shall serve for a maximum term of nine years from the date of first appointment and must take a break from office and may not be reappointed until the anniversary of the commencement of his or her break from office.
COMPANY SECRETARY
Kerry Secretarial Services Limited
REGISTERED OFFICE 5 Beaufoy Walk Off Black Prince Road Kennington London SE11 6AA
REGISTERED COMPANY NUMBER 07563118 (England and Wales) REGISTERED CHARITY NUMBER 1143375 (England and Wales) INDEPENDENT EXAMINER Cox Costello & Horne Chartered Accountants and Tax Advisors Batchworth Lock House 99 Church Street, Rickmansworth WD3 1JJ BANKER Lloyds Bank Plc 2nd Floor 39 Threadneedle Street London EC2R 8AU WEBSITE www.blackprincetrust.org.uk
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Docusign Envelope ID: 99D9C2D9-DE61-4A0A-9D29-517A8B2E3FB9
THE BLACK PRINCE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
The Trustees who are also Directors of the Charity for the purposes of the Companies Act 2006, present their report with the financial statements of the Charity for the year ended 31 March 2025. The Trustees' report also represents the Directors' report as required by Company Law. The financial statements have been prepared in accordance with the accounting policy set out in the note to the financial statements. The financial statements complies with the Charity's governing document, the requirements of the Companies Act 2006 and the Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statement in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 31 January 2022) the Charity SORP (FRS 102)'.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Trust's principal objectives as set out in the Articles and Memorandum of Association are as follows:
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1) To promote primarily for the benefit of the inhabitants of Greater London the provision of facilities in the interests of social welfare for recreation or other leisure time occupation with the object of improving the life of such persons;
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2) To develop the capacity and skills of the members of socially and economically disadvantaged communities, with a focus on inhabitants of Greater London who are unemployed, vulnerably housed, on low incomes and/or at risk of social exclusion, so that they are better able to identify, and help meet, their needs and participate more fully in society;
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3) To advance the education of the public including, without limitation, in the subjects of health, sports and physical recreation, sports coaching and leadership and for the benefit of the public to promote learning amongst and develop the employability skills of people who are unemployed or on low incomes;
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4) To promote for the benefit of the public urban regeneration in the area in Lambeth bounded by Lambeth Road, Kennington Road, Kennington Lane and the River Thames, by all or any of the following means:
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A) The maintenance, improvement or provision of public amenities;
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B) The provision of recreational facilities for the public at large or those who by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances, have need of such facilities;
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C) The advancement of education, training or retraining, particularly among unemployed people, and providing unemployed people with work experience; and
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D) The creation of training and employment opportunities by the provision of workspace, buildings and or land for use on favourable terms.
Significant activities Facilities
On 13th October 2011 the Trust completed a Head Lease with the London Borough of Lambeth (LBL) for a period of 125 years on around 2.2 acres of land and sports facilities at the former Lilian Baylis secondary school in Kennington, Lambeth, London SE11 6AA. The site is now known as The Black Prince Community Hub (the 'Hub'), 5 Beaufoy Walk, Lambeth, London SE11 6AA.
The sports facilities at the Black Prince Community Hub include a 7-a-side football pitch, two five-a-side football pitches, two multisport (netball/tennis courts/five-a-side football pitches), athletics facilities and the Sports Hall with two basketball courts (the Regal and Jordan Courts), a boxing gym/studio and a fitness gym. The facilities also include numerous changing facilities including disabled changing, and an outside exercise area / community garden. The Hub also has an administration building housing office space, meeting rooms, reception areas for tenants and a café. There is also a dedicated training and education room at the Hub ('The Space') which helps BPT and partners deliver interventions and host meetings for its partners and for other organisations hiring the space privately..
The Head Lease from LBL operates on the basis of a peppercorn rent but is subject to the Community Service Agreement which requires the delivery of community driven outputs agreed with LBL. All the facilities are let out to user groups and individuals with an agreed scale of charges for commercial use and for community use. Free to user community programmes are organised and funded by BPT and its community partners who operate at the Hub.
Social Outcomes
The Trust has designated 4 separate social outcome strands across which BPT and its partners at the Hub aim to deliver social impact:
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Participation
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Equality, Diversity and Inclusion
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Health and Wellbeing
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Education, Training and Lifelong Learning
The Trust subscribes to the market leading Measurement and Evaluation system (Upshot) to collate, monitor and evaluate the social outcomes delivered across the Hub.
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Docusign Envelope ID: 99D9C2D9-DE61-4A0A-9D29-517A8B2E3FB9
THE BLACK PRINCE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
OBJECTIVES AND ACTIVITIES
Public benefit
The objectives and activities, and achievement and performance sections of this report set out the activities that the Trust undertakes for the public benefit.
The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Charity Commission in determining the activities undertaken by the Trust.
Access to activities or services are offered at highly discounted rates or free of charge in relation to community use, however the Trust charges commercial rates for private organisations to help cross subsidises the Trust's community activities.
A number of private benefits do necessarily arise from the activities of the Trust. In particular, the Trust finds it essential to employ and remunerate staff. Individual members of the Trust will benefit in the widest sense from the activities they undertake. Private benefits are purely incidental as they are a necessary by-product of carrying out the Trust's aims.
Grantmaking
The Trust is not a grantmaking Charity but may act as intermediary between grantmaking organisations and the individuals who benefit from the grants.
Volunteers
Volunteers help out at many of the Trust's activities. Many of the Trust's participants have continued to become volunteers at sessions, which in turn give them valuable experience. Trust volunteers make a vital contribution to the Trust, enabling the Trust to provide many more activities than the Trust could otherwise do. .
Achievement and performance
Charitable and fundraising activities
Concurrently to the Trust entering into the Head Lease with LBL the Trust also entered into a Community Service Agreement (CSA) with LBL outlining the social impacts the Trust would agree to deliver. The CSA outcomes are reported quarterly.
Trust receives no direct or indirect funding from Lambeth under the terms of the Head Lease (but can apply for grant funding related to programme delivery and have done successfully within the last financial year), and the Head Lease operates on the basis that the Trust and the operation of the Hub is self-funding via income generated from the Hub. This funding is intended to be primarily from office space and facility rental but also third-party funding in the form of grants and donations.
The Trust currently has a 25-year lease signed in January 2015 with Powerleague Fives Limited (PL) granting PL with the demise over the outside sports facilities, changing rooms and office/reception space at the Hub in return for a fixed rental payment.
The remainder of the Hub is managed by the Trust and a summary of the activities is as follows:
Administration Building
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Office space utilised by BPT staff
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Office space rented to 3 Pillars under a 12-month operational licence dated 01/06/24
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Office space rented to Share Community under a 3-year operational licence dated 09/05/23
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Desk space rented to Fight 4 Change under and operational license dated 01/07/23
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Café space also rented to Share Community to run as a Training Kitchen and Café for students with learning disabilities and autism. This is covered in a 3-year Concession Agreement signed on 29/06/23.
Sports Hall and adjacent outdoor spaces
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Two basketball courts (managed by the Trust)
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Boxing gym / studio with gym mezzanine level (managed by the Trust)
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Office space utilised by BPT staff with one desk rented to Fight 4 change under operational license dated
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Training and Development Room (managed by the Trust)
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Gym - operated by the Foundry Limited under a 5-year lease signed April 2022 running to 30th April 2027
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- Container for food storage
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Male and female changing areas (communal)
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Disabled changing room / toilet (communal)
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Car park (managed by the Trust - 10 spaces rented out to third party parking contractor)
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Docusign Envelope ID: 99D9C2D9-DE61-4A0A-9D29-517A8B2E3FB9
THE BLACK PRINCE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
Achievement and performance
Charitable and fundraising activities - continue
While the above provides the Trust with an income stream the costs of running the Hub remain considerable with the significant cost categories being:
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Salaried staff
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Coaches, sessional staff, contractors
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Site insurance
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Site services (waste disposal, pest control, CCTV, external lighting etc)
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Business Rates
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Utilities
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Repair, maintenance, and upkeep of facilities
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VAT
Financial review
Financial position as at 31 March 2025
The surplus/(deficit) for the reporting year was (£74,699) (2024: £43,763).
Incoming resources were £878,767 (2024: £832,060).
Outgoing resources were £953,466 (2024: £875,823).
Net current assets were £361,460 (2024: £345,939).
Cash generated from operations £69,967 (2024: £35,536)
Investment policy and objectives
Under the Articles of Association, the Trust has the power to invest monies which are not immediately required for its purposes, in or upon such investments or property as may be thought fit. At the present time the Trustees' policy is to maintain all such monies in liquid cash form.
Reserves Policy
It is always difficult to plan or develop services within a Charitable organisation, with its constant need to find funding and in an atmosphere of insecurity of long-term funding agreements. The Trust's reserves policy is set to ensure our work is protected from the risk of disruption at short notice due to a lack of funds, whilst at the same time ensuring we do not retain income for longer than required.
Purpose
The following reserves policy exists in line with guidance issued by the Charity Commission, and to enable the Trust's management to appropriately designate funds from its unrestricted reserves in order to:
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1) Fund specific projects on short notice or for which no funding can be raised which further the Trust's Charitable aims as stated in its governing document;
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2) Cover administration and support costs without which the Trust could not function;
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3) Protect against risks and unforeseen expenditures which may arise and which are beyond the Trust's control and cannot be met from existing income and are inline with its stated objectives;
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4) Ensure the viability of the Trust beyond the immediate future and to provide reliable and on-going services over the longer term; and
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5) Maintain the condition of the Trust's Hub's facilities.
Procedures
The Trust's management may designate unrestricted reserves money to cover the Trust's financial responsibility as follows:
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Contingency reserves - to enable the Trust to function by meeting contractual obligations in respect of staff salaries, running and legal costs and client service provision - should represent at minimum three months and at maximum five months Charitable operating costs (as calculated on the basis of its annual expenditure);
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Should these reserves fall below the calculated minimum, the Trust's management will take reasonable steps to raise and designate additional unrestricted funds against the deficit;
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Docusign Envelope ID: 99D9C2D9-DE61-4A0A-9D29-517A8B2E3FB9
THE BLACK PRINCE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
Financial review – continue
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Should these reserves exceed the calculated maximum, the Trust's management will arrange for expenditure of the surplus during the current or following financial year, in line with the Trust's Charitable aims;
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No more than 20% of annual income shall be allocated to unrestricted reserves unless agreed otherwise by the Trustees;
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No more than £20,000 from the reserves shall be expended or accumulated in any one financial year unless otherwise agreed by the Trustees;
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The level of reserves will be reviewed quarterly by the Trust's management; however the Trust currently holds 3 months operational expenses and a capital expenditure emergency fund in a designated bank account, and these funds are unrestricted for use by the Trust;
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The policy will be reviewed annually by the Trust's management and specific minimum and maximum reserve levels will be set in the Trust's current and following financial year projections; and
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This policy is to be included in the Trust's annual financial statements (herein).
Financial and risk management objectives and policies Financial Stability
The Powerleague contract provides the Trust with a long term and reliable income stream under a long-term (25 year) lease arrangement agreed in 2015. With other income streams from office rental, facility rental and a control of costs the Trust should be in a viable position to cover all the key operating costs. The Trustees intend for any operating financial surplus to be re-invested to help achieve the original aims and objectives of the Trust.
In terms of major programme funders, the 12-month extension of the Nike & Jordan partnership agreement following the end of interim agreement to May 2024 with an improved financial commitment reflects the strong nature of the partnership. Similarly, the relationship with City Bridge Trust continued to prosper with strong coordination around delivery, frequent communication and reporting well received at the end of the 4th year of 5 in November 2024.
Furthermore, the Trust secured new funding from previous funders: an additional £31k of funding from Lambeth towards Health and Wellbeing programmes and a Lambeth Sports Partnerships Officer post; and two from Sport England with a total value of £15.4k to support youth football and all ages gym programmes.
BPT has in this period secure the services of a Corporate Fundraising Consultant to support the CEO with prospect research and funding applications and pitches, which has seen a marked increase in corporate donations, particularly from local corporates Citywire, CLS Holdings, and Surrey Cricket. Additionally, we have run some fundraising events linked to sports publishing and podcasts that have exposed us to new audiences and opportunities to make a call to action for donations which has yielded some additional donations and one significant individual donor.
The aim of the Trust going forward is to strengthen and build on these relationships while endeavouring to bring new partners to the Hub, especially on the largely untapped corporate fundraising side. To this end the Trust continues to engage contractual services of two external fundraising consultants to the extent that we can afford to – around 3-4 days per month. One has a focus on Trusts and Foundations and one has a focus on Corporate Partnerships, and both add professional expertise to our fundraising strategy and operations as we explore and target further funding to aid the financial stability of the Charity.
The Trustees continue to look for further partnerships and investment and will look toward organisations like London Sport, Sport England, Nike & Jordan, the GLA and the London Marathon Charitable Trust as well as the London Funders consortium which include some of these organisations for potential capital and revenue investment. The Trust is also exploring opportunities to engage with other potential partners interested in and able to assist in developing the financial and operational sustainability of the Trust.
The Trustees are aware of the long-term financial liabilities of the Trust and expect that once operational and financial stability have been reached in the medium term then these liabilities can be addressed over time.
Operational Stability
The The Trust remains in a position where it has successfully consolidated relationships with the key partners at the site. The relationship with Powerleague is a strong one; the Foundry relationship remains strong 3 years into their 5-year agreement; Share Community have signed a concession agreement to rent the kitchen and café as well as office space up to May 2026 and have a significant sports programme based at the site as well; and the relationship with the respective Charity delivery partners at the Hub have continued to improve over the past 12 months.
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Docusign Envelope ID: 99D9C2D9-DE61-4A0A-9D29-517A8B2E3FB9
THE BLACK PRINCE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
Financial and risk management objectives and policies - continue
We have expanded the team with a new Programmes Administrator (recruited last year but formally in post from April 2nd 2024) to provide support across both Site Operations and Admin Team and the Community Team, acknowledging the increase in community partners and also private bookings to ensure we continue to provide a strong service to all site users. We have also added the Lambeth Sports Partnership Officer post funded by Lambeth to help create stronger links between school delivery and community offers at Black Prince Trust and across the borough.
We have also improved and upgraded our basketball courts and food programme facilities, adding a storage container and clearing out an accessible storage programme to improve our food provision, supported by Surrey Cricket’s donation to support our food provision.
In addition to improving the site, we continue to maintain comprehensive fire alarm systems, security alarms and regular testing of these as well as water testing, PAT testing and all other relevant health and safety checks to ensure the site is fully compliant and operations are not unduly interrupted by operational issues.
Operational Development / Partnership Model
The Trustees regard the operational model of the Hub of being one where the Trust is the 'umbrella' organisation at the Hub, working with both commercial and Charitable partners in tandem to help achieve the overall aims of the Trust. The Trust does not envisage itself as a large-scale employer and wishes to work via partnerships whereby chosen delivery partners will help operate the facilities on an agreed and managed basis.
The key facets of the current operational model are:
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a) To act as an exemplary Landlord to all tenants at the Hub;
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b) To enter into medium to long term agreements with tenants for the administration building to provide income from the office space and café space as well as endeavour to work with tenants who will deliver community benefits at the Hub;
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c) To operate the basketball courts, the boxing studio and the training facility to jointly deliver social outcomes and derive an income for the Trust to support operational costs;
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d) To oversee and encourage Community Delivery at the Hub including a dedicated Measurement and Evaluation (M&E) system (Upshot) for all delivery partners and the Trust itself; to develop a training and development function at the Hub; and via its Community Team to identify gaps in community provision and seek new funding and/or partnerships to improve the breadth and depth of our largely free community offer.
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e) To explore new areas of income generation (eg car parking, sponsorship, partnership working, fund raising etc) including securing funding to develop and scale programmes in collaboration with both existing and new partners.
Delivery of Social Outcomes
As stipulated above, the Trust delivers social return under the remit of the CSA agreement with Lambeth Council in 2011. The figures are agreed with Lambeth and reported quarterly. Since 2011 the Trust has exceeded all the targets in the CSA agreement.
Since 2015 the Trust has developed its own social outcomes to complement the targets within the CSA agreement. These four social outcomes are summarised above and have been designed to work within the partnership model adopted at the Hub. The strands are designed to encapsulate the social outcome strategies of BPT's partners who deliver a wide range of programmes at the Hub. Not all partners will deliver across all the outcomes, but all partners will typically deliver against at least one of these outcomes. Likewise, the Trust itself will deliver positive social outcomes through programmes it secures funding for in line with these agreed social outcomes. Achieving such positive social outcomes is firmly rooted in and dependent on an effective partnership model at the Hub.
The Trust acknowledges that social outcome impact measurement and evaluation (M&E) is a key priority at the Hub and to this end has commissioned a market leading M&E system in Upshot. Upshot has been designed and developed by the highly credible Football Foundation and is used across the sport for development sector as well as by many public and private bodies including housing associations. BPT has for multiple years used the Upshot system to collect and collate all of the social outcome data at the Hub and is also used by a number of the delivery partners at the Hub.
BPT continues to utilise the data analysis model developed with London Sport in 2023 to help us to understand how best to analyse the wealth of data collected and how to present it to help evidence our impact and how we are engaging our community. This has helped us to develop our capacity to analyse and share findings, which we update annually on our website as well as providing segmented data as a service to support our partners: www.blackprincetrust.org.uk/social-impact.
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Docusign Envelope ID: 99D9C2D9-DE61-4A0A-9D29-517A8B2E3FB9
THE BLACK PRINCE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
Hub Capital Works
During the financial year to 31 March 2025 the Trust continued to upgrade and improve the facilities at the Hub thanks largely to funding received between 2024 - 25 as follows:
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Capital expenditure allocation from London Marathon Charitable Trust (funding to be received as reimbursement in the next financial year).
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Capital expenditure from the Surrey Cricket donation.
This grant funding was used as follows:
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To replace the original 1960s gym floor in the Jordan Court; to repaint walls; to replace old, failing and inefficient lighting with new energy efficient lighting that both offers brighter court coverage and also has dimmer settings to support SEND groups with sensory challenges related to bright lighting; and renovation of the accessible changing facility to bring it back into service and meet the needs of disabled users better.
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To install and power an additional food storage container and repurpose another space with racking and power for fridges and freezers.
Future plans
The Trustees recognise that the Trust has achieved a stable and sustainable new operational model at the Hub involving Powerleague and the Trust operating the Hub on a joint basis. The key aims for the Trust in the next financial year are:
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1) Maintain financial and operational stability, with particular regard to the ongoing impact of the cost of living crisis; 2) Maintain and improve the physical assets at the Hub; specifically; renovation of changing facilities and toilets including creation of children-specific changing spaces; replacement of dilapidated outer wall of Regal basketball court for better insulation from inclement weather to protect the flooring.
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3) Improve delivery of community outcomes, measured by the Trust's 4 core social impact strands, by:
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a) maintaining and improving partnerships at the Hub; and
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b) diversifying and increasing the long-term income stream at the Hub, especially via fundraising for larger scale programmes to the benefit of multiple partners
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4) Improve how we measure, evaluate and improve the range of social outcomes delivered at the Hub (including and in addition to those delivered under the CSA) continuing quarterly analysis of data and the introduction of more qualitative measurement tools and commissioning independent evaluation including the end of programme evaluation of the City Bridge Foundation funded PASIO programme.
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5) Develop new strategies that deliver against our social outcomes, including Health & Well-Being and Education, Training & Lifelong learning:
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6) Enhance relationships with key long-term stakeholders including the local community, DCMS, Lambeth Council, the local NHS/CCG/ICB, the Greater London Authority (GLA), London Sport, Sport England etc; and:
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7) Explore redevelopment opportunities to improve the quality and longevity of the facilities at the Hub.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The Black Prince Trust (the Trust) was established on 14 March 2011 and is governed under its Articles of Association. On 22 June 2011 by special resolution, the original Article 26.5 was deleted and replaced.
Charity status
The Trust was registered as a Charity on 15 August 2011. The Trust is a Charitable Company limited by guarantee, as defined by the Companies Act 2006, and is a registered Charitable Company with the Charity Commission.
Membership
Membership under the Articles of Association is open to all persons who satisfy the membership requirements. Individual members shall have limited liability. Every individual member of the Charitable Company undertakes to contribute an amount not exceeding £1 to the assets of the Trust in the event of winding up.
Financial statements
The unaudited financial statements comply with the Charities Statement of Recommended Practice - Accounting and Reporting by Charities FRS 102 effective January 2022, the Charities Act 2011, the Companies Act (2006) and the Charities (Accounts and Reports) Regulations 2008. The Trustees' report and financial statements are submitted to the Charity Commission following approval by the membership at the AGM.
Recruitment and appointment of new Trustees
Trustees are appointed under the terms of the Articles of Association. The Trustees consider that having appropriate skills and awareness appropriate to the nature of the work of the Trust is more important than having numerous Trustees. The Trustees actively seek to identify and address gaps in their knowledge and skills in order to ensure the good governance of the Trust.
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Docusign Envelope ID: 99D9C2D9-DE61-4A0A-9D29-517A8B2E3FB9
THE BLACK PRINCE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Trustees who held office during the financial year 2024-25 were:
R D Alleyne I G Macfarlane I Issa L Martin K Harrison C P Oliver L M Harrison L Thomson L R Heria R D Alleyne
Organisational structure and decision making
The Trustees believe that the alongside the new operational structure at the Hub that the Trust now has a fit for purpose management and governance structure as below:
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The current staff structure is now adequate in terms of skill set and experience to operate the Hub as envisaged under the new model as described above
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An improved Board of Trustees with relevant experience as follows:
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Financial
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Safeguarding
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Legal
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Commercial
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Development
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Communications and Public Relations
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Diversity & Inclusion
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Delegating specific responsibility to sub-committees (consisting of Trustees) comprising:
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Risk & Finance (Incorporates fundraising)
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Community (incorporating community delivery, partnerships, impact and evaluation, comms and strategic development linked to social outcomes)
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Site development
Induction and training of new Trustees
The Trustees offer a wide range of skills and experience essential to the good governance of the Trust. New Trustees are invited to take part in an informal induction programme. On an informal basis, new Trustees undergo orientation to brief them on their legal obligations under Charity and Company law, the content of the Memorandum and Articles of Association and decision-making process, meet key persons of the Trust, and become familiar with the business plan and recent financial performance of the Trust. Trustees all undergo external safeguarding training and DBS checks. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role and other aspects of the Trust's work. The Trustees review their written procedures in line with all other procedural documents on a regular basis.
Risk management
The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Indemnity insurance
Under the terms of the Articles of Association the Trustees shall be indemnified out of the assets of the Charity against any liability incurred by him/her in defending any proceedings in which judgement is given in their favour. To mitigate any potential costs arising from such proceedings, the Charity has obtained the necessary indemnity insurance.
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Docusign Envelope ID: 99D9C2D9-DE61-4A0A-9D29-517A8B2E3FB9
THE BLACK PRINCE TRUST
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025
The Trustees (who are also the Directors of The Black Prince Trust for the purposes of Company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
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 of the incoming resources and application of resources, including the income and expenditure, of the Charitable Company for that period. In preparing those financial statements, the Trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charitable Company will continue in business.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charitable Company and to 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.
Report of the Trustees, approved by order of the Board of Trustees, as the Company Directors, on ............................................. and signed on the Board's behalf by: 30 December 2025
............................................. K Harrison - Trustee and Head of Risk and Finance Sub-Committee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BLACK PRINCE TRUST
Independent examiner's report to the Trustees of The Black Prince Trust
I report to the Trustees (who are also Directors for the purpose of Company law) on my examination of the financial statements of The Black Prince Trust ('the Charitable Company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and related notes.
This report is made solely to the Charity's Trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the Trustees of the Charitable Company (and also its Directors for the purposes of Company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the financial statements of the Charitable Company are not required to be audited under Part 16 of the Act and are eligible for independent examination, I report in respect of my examination of the Charitable Company's financial statements carried out under Section 145 of the Charities Act 2011 ('the 2011 Act') and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
As permitted by Direction 2, issued by the Charity Commission the firm for which I work has provided the Company with bookkeeping services during the year ended 31 March 2025. As a consequence I have followed the requirement of the FRC's Ethical Standard when undertaking this assignment.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a 'true and fair' view and my report is limited to those specific matters set out in the independent examiner's statement.
Independent examiner's statement
Since the Charitable Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Charitable Company as required by Section 386 of the 2006 Act; or 2. the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the financial statements give a true and fair view which is not a matter considered as part of an independent examination; or
-
the financial statements 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 financial statements to be reached.
Michael F Cox FCA The Institute of Chartered Accountants in England and Wales
Cox Costello & Horne Chartered Accountants and Tax Advisors Batchworth Lock House 99 Church Street, Rickmansworth WD3 1JJ
31 December 2025 Date: .............................................
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STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025
| Unrestricted funds Notes £ INCOME FROM Donations 3 30,557 Charitable activities 6 Community hub 576,102 Other trading activities 4 46,502 Investment income 5 4,185 Total 657,346 EXPENDITURE ON Charitable activities 7 Community hub 711,490 NET INCOME/(EXPENDITURE) (54,144) RECONCILIATION OF FUNDS Total funds brought forward 426,689 TOTAL FUNDS CARRIED FORWARD 372,545 |
Restricted funds £ 15,000 206,421 - - 221,421 241,976 (20,555) 1,924,225 1,903,670 |
31.3.25 Total funds £ 45,557 782,523 46,502 4,185 878,767 953,466 (74,699) 2,350,914 2,276,215 |
31.3.24 Total funds £ 10,802 696,656 120,905 3,697 832,060 875,823 (43,763) 2,394,677 2,350,914 |
|---|---|---|---|
The notes form part of these financial statements
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THE BLACK PRINCE TRUST
BALANCE SHEET 31 MARCH 2025
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 13 52,458 CURRENT ASSETS Debtors 14 60,836 Cash at bank and in hand 343,996 404,832 CREDITORS Amounts falling due within one year 15 (84,745) NET CURRENT ASSETS 320,087 TOTAL ASSETS LESS CURRENT LIABILITIES 372,545 NET ASSETS 372,545 FUNDS 16 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ 1,862,297 26,094 139,052 165,146 (123,773) 41,373 1,903,670 1,903,670 |
31.3.25 Total funds £ 1,914,755 86,930 483,048 569,978 (208,518) 361,460 2,276,215 2,276,215 372,545 1,903,670 2,276,215 |
31.3.24 Total funds £ 2,004,975 61,013 409,062 470,075 (124,136) 345,939 2,350,914 2,350,914 426,689 1,924,225 2,350,914 |
|---|---|---|---|
The Charitable Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.
The members have not required the Company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.
The Trustees acknowledge their responsibilities for
-
(a) ensuring that the Charitable Company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the Charitable Company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Charitable Company.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 30 December 2025
............................................. L Martin - Trustee and Vice Chair
The notes form part of these financial statements
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CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025
| Notes Cash flows from operating activities Cash generated from operations 19 Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Interest received Net cash used in investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
31.3.25 £ 69,967 69,967 (166) 4,185 4,019 73,986 409,062 483,048 |
31.3.24 £ 35,536 35,536 (20,486) 3,697 (16,789) 18,747 390,315 409,062 |
|---|---|---|
The notes form part of these financial statements
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE BLACK PRINCE TRUST
1. COMPANY INFORMATION
The Black Prince Trust (the Trust) is a public benefit entity registered as Charity in England and Wales and a Company limited by guarantee without share capital and exempted from use of "Limited". It was incorporated on 14 March 2011 (Company number: 07563118) and registered as a Charity on 15 August 2011 (Charity number: 1143375).
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.
In the event of the Charitable Company being wound up, members are required to contribute an amount not exceeding £1 each.
The registered office of the Trust is: The Black Prince Trust 5 Beaufoy Walk, Off Black Prince Road, Kennington, London, SE11 6AA.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the Charitable Company, which is a public benefit entity under FRS 102, 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 2022)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are drawn up on the going concern basis which assumes the Trust will continue in operational existence for the foreseeable future; taken to be 12 months from the signing of the financial statements. The Trustees have given due consideration to the working capital and cash flow requirements of the Trust. The Trustees consider the Trust's current and forecast cash resources to be sufficient to cover the working capital requirements of the Charity for at least 12 months from the date of signing the financial statements.
Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires the Trustees to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for income and expenditure during the period. However, the nature of estimation means that actual outcomes could differ from those estimates.
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
Income
Income is recognised when the Trust has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. Income received in advance of a service is deferred until the criteria for income recognition are met. Income arises in the United Kingdom.
Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the Trust 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. he Trust received government support through the Job Retention Scheme. The grant income is recognised in the period to which the underlying furloughed staff costs relate to. The payroll liability has been incurred by the entity, and it has therefore met the conditions to claim for that payroll accounting period.
Gifts in kind are valued at estimated value to the Trust. They are included in the Charity's financial statements if the estimated value is in excess of £500.
Interest receivable on funds held on deposit is included when receivable and the amount can be measured reliably by the Trust; this is normally upon notification of the interest paid or payable by the bank.
Unrestricted Charitable donations are recognised in the financial statements when the Charitable donation has been received, or if, before receipt, there is sufficient evidence to provide the necessary certainty that the donation will be received and the value of the incoming resources can be measured with sufficient reliability.
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THE BLACK PRINCE TRUST
2. ACCOUNTING POLICIES - continued
Critical accounting judgements and key sources of estimation uncertainty
Donated professional services and facilities are recognised as income when the Trust has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the Charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised. On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Trust which is the amount the Trust would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Trust to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. A further analysis of this expenditure is given in the notes to the financial statements.
-
Cost of raising funds comprises the costs of commercial trading and their associated support costs.
-
Expenditure on Charitable activities includes the costs of the Trust's services undertaken to further the purpose of the Trust and their associated support costs.
-
Other expenditure represents those items not falling into any other heading.
Tangible fixed assets
| Tangible fixed assets | |
|---|---|
| Depreciation is provided at the | following annual rates in order to write off each asset over its estimated useful life. |
| Leasehold buildings | 60 years |
| External sports facilities | 20 years |
| Sports and office equipment | 4 years |
All assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation. The cost of an asset initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.
Taxation
The Trust is an institution within the meaning of the Charities Act 2011 and as such is a Trust within the meaning of Section 506(1) of the Taxes Act 1988. Accordingly, the Trust is potentially exempt from taxation in respect of income or capital gains within categories covered by Section 505 of the Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied exclusively to Charitable purposes. The Trust receives no similar exemption in respect of Value Added Tax.
The Trust is an institution which is established for Charitable purposes within the meaning of the Charities Act 2011 and as such is a Trust within the meaning of Para 1 of Schedule 6 to the Finance Act 2010. Accordingly, the Trust is potentially exempt from taxation in respect of income or capital gains received within categories covered by Sections 478-488 of the Corporation Tax Act 2010 (formerly enacted in Section 505 of the Income and Corporation Taxes Act 1988) or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied to exclusively Charitable purposes. The Trust receives no similar exemption in respect of Value Added Tax. For this reason the Trust is generally unable to recover input VAT it suffers on goods and services purchased. The Trust is registered for VAT, as the Trustees have taken professional advice and consider that certain of the Trust's sources of income are within the auspices of VAT.
Exceptional Item
Exceptional items are material or significant irregular items of income and expense which the trust believes should be disclosed in the Statement of Financial Activities to assist in understanding the underlying performance achieved by the trust by virtue of their nature or size.
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THE BLACK PRINCE TRUST
2. ACCOUNTING POLICIES - continued
Fund accounting
Unrestricted funds can be used in accordance with the Charitable objectives at the discretion of the Trustees.
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 can only be used for particular restricted purposes within the objects of the Trust. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Transfers are made from unrestricted to restricted funds to cover any overspends on restricted projects during the year where cost will not be met by the funder. Transfers between restricted funds and from restricted to unrestricted funds are made with the permission of the funder.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Financial instruments
Financial assets (including cash and debtors) and financial liabilities are recognised when the Trust becomes a party to the contractual provisions of the instrument. Additionally, all financial assets and liabilities are classified according to the substance of the contractual arrangements entered into.
Financial assets and liabilities are initially measured at transaction price (including transaction costs) and are subsequently remeasured where applicable at amortised cost.
Financial assets include cash, trade debtors and other debtors.
Financial liabilities include trade creditors, other creditors and accruals.
Pension costs
From 1 April 2015, under the Pensions Act 2008, the Trust must put certain staff into a pension scheme and contribute towards it. This is called automatic enrolment. To comply with automatic enrolment laws, the Trust signed a participation agreement with a pension provider by which staff become members of an independently administered pension plan. The Trust and staff make contributions as specified in the plan.
In the aforementioned scheme, staff contract directly with the pension Company, and assets of those schemes are held separately from those of the Trust. The Trust acts as agent in collecting and paying over staff pension contributions. Once the contributions have been paid, the Trust as employer has no further obligations.
The Trust's contributions are charged to the Statement of Financial Activities in the period to which they relate. At the reporting date, outstanding/(surplus) contributions amounted to £1,157 (2024: £1,426).
3.
4.
5.
| DONATIONS Voluntary donations OTHER TRADING ACTIVITIES Partnership income Other fundraising income Sponsorships INVESTMENT INCOME Deposit account interest |
31.3.25 £ 45,557 31.3.25 £ 30,000 1,498 15,004 46,502 31.3.25 £ 4,185 |
31.3.24 £ 10,802 |
||
|---|---|---|---|---|
| 31.3.24 £ 30,956 12,016 77,933 |
||||
| 120,905 | ||||
| 31.3.24 £ 3,697 |
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
6. INCOME FROM CHARITABLE ACTIVITIES
| Activity Rent receivable tenants Community hub Tenant contributions Community hub Hire of facilities Community hub Community income Community hub Grants Community hub Grants received, included in the above, are as follows: City Bridge Trust Nike-Nike Sponsorship Lambeth Council London Borough of Lambeth Access Sport Active Communities Network Peter Harrison Foundation Nespresso Community Fund London Sport BPT Football Community Fitness Programme Holiday Programmes Lambeth Active Fund Lambeth Walking Programme 7. CHARITABLE ACTIVITIES COSTS Community hub 8. SUPPORT COSTS Management £ Community hub 156,466 |
31.3.25 £ 207,047 42,342 286,105 12,364 234,665 782,523 31.3.25 £ 59,660 98,452 18,473 - - - 7,500 - - 5,367 7,440 12,960 14,940 9,873 234,665 Support Direct costs (see Costs note 8) £ £ 791,570 161,896 Governance Finance costs £ £ 698 4,732 |
31.3.24 £ 193,987 49,790 235,625 15,255 201,999 696,656 31.3.24 £ 57,641 96,548 - 20,600 1,440 9,520 6,250 5,000 5,000 - - - - - 201,999 Totals £ 953,466 Totals £ 161,896 |
|---|---|---|
The Charity initially identifies the costs of its support functions. It then identifies those costs which relate to the governance function. Governance costs and other support costs are apportioned separately between the Charity’s key activities undertaken in the year. All the general support and governance costs have been apportioned to the various Charitable activities on the basis of staff time allocated to each activity.
9. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| Depreciation - owned assets Independent examiner |
31.3.25 £ 90,386 3,000 |
31.3.24 £ 88,723 3,000 |
|---|---|---|
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THE BLACK PRINCE TRUST
10. TRUSTEES' REMUNERATION AND BENEFITS
There were no Trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
| Trustees' expenses | ||
|---|---|---|
| 31.3.25 | 31.3.24 | |
| £ | £ | |
| Trustees' expenses | 71 | 342 |
| Trustees' expenses consists of cost reimbursement during the year £71 (2024: £342). | ||
| STAFF COSTS | ||
| 31.3.25 | 31.3.24 | |
| £ | £ | |
| Wages and salaries | 384,121 | 346,172 |
| Social security costs | 32,756 | 29,064 |
| Other pension costs | 8,467 | 8,030 |
| 425,344 | 383,266 | |
| The average monthly number of employees during the year was as follows: | ||
| 31.3.25 | 31.3.24 | |
| Administrative, support and governance | 4 | 5 |
| Charitable activities | 8 | 6 |
| 12 | 11 | |
| The number of employees whose employee benefits (excluding employer pension costs) exceeded | £60,000 was: | |
| 31.3.25 | 31.3.24 | |
| £70,001 - £80,000 | - | 1 |
| £80,001 - £90,000 | 1 | - |
| 1 | 1 |
11. STAFF COSTS
The key management of the Trust is the Chief Executive Officer, Finance, Systems and Governance Manager, Site and Operations Manager and Programmes and Partnerships Manager. The total benefits of the key management of the Trust were £199,674 (2024: £219,455).
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME FROM Donations 2,959 Charitable activities Community hub 393,593 Other trading activities 120,842 Investment income 3,697 Total 521,091 EXPENDITURE ON Charitable activities Community hub 543,052 NET EXPENDITURE (21,961) |
Restricted funds £ 7,843 303,063 63 - 310,969 332,771 (21,802) |
Total funds £ 10,802 696,656 120,905 3,697 832,060 875,823 (43,763) |
|---|---|---|
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
| 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted funds funds £ £ Transfers between funds (4,909) 4,909 Net movement in funds (26,870) (16,893) RECONCILIATION OF FUNDS Total funds brought forward 453,555 1,941,122 TOTAL FUNDS CARRIED FORWARD 426,685 1,924,229 13. TANGIBLE FIXED ASSETS External Sport and Long sports office leasehold facilities equipment £ £ £ COST At 1 April 2024 1,891,348 815,736 227,588 Additions - - 166 At 31 March 2025 1,891,348 815,736 227,754 DEPRECIATION At 1 April 2024 385,380 323,910 220,407 Charge for year 32,785 53,811 3,790 At 31 March 2025 418,165 377,721 224,197 NET BOOK VALUE At 31 March 2025 1,473,183 438,015 3,557 At 31 March 2024 1,505,968 491,826 7,181 For further details, please refer to Note 17. 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.25 £ Trade debtors 15,497 Other debtors 5,289 Accrued income 61,000 Prepayments 5,144 86,930 |
Total funds £ - (43,763) 2,394,677 2,350,914 Totals £ 2,934,672 166 2,934,838 929,697 90,386 1,020,083 1,914,755 2,004,975 31.3.24 £ 21,295 34,754 - 4,964 61,013 |
|
|---|---|---|
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Social security and other taxes VAT Other creditors Pension liability Deferred income Accrued expenses |
31.3.25 £ 11,141 9,016 11,547 14,428 1,157 161,229 - 208,518 |
31.3.24 £ 10,191 8,263 28,814 7,201 1,426 62,020 6,221 124,136 |
|---|---|---|
16. MOVEMENT IN FUNDS
| Unrestricted funds General fund Designated fund - capital works Restricted funds Social Investment Business Foundation City Bridge Trust Nike London Borough of Lambeth Social Investment Business Access Sport Community Fitness Programme Lambeth Wellbeing Grant Sport England - Community Fitness Programm The National Lottery Community Fund Peter Harrison Foundation Surrey Cricket- Food Programme TOTAL FUNDS |
At 1.4.24 £ 284,514 142,175 426,689 818,410 13,710 19,286 4,616 1,059,980 1,440 1,139 3,166 - - 2,478 - 1,924,225 2,350,914 |
Net movement in funds £ (54,144) - (54,144) - (13,710) (19,286) (4,616) - (1,440) (1,139) (3,166) 1,911 14,950 (2,478) 8,419 (20,555) (74,699) |
At 31.3.25 £ 230,370 142,175 372,545 818,410 - - - 1,059,980 - - - 1,911 14,950 - 8,419 1,903,670 2,276,215 |
|---|---|---|---|
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THE BLACK PRINCE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
16. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| r Unrestricted funds General fund Restricted funds City Bridge Trust Nike Access Sport Lambeth Wellbeing Grant London Borough of Lambeth Sport England - Community Fitness Programme Sport England Movement Fund Sport England Small Grants Programme Surrey Cricket - Food Programme The National Lottery Community Fund Peter Harrison Foundation TOTAL FUNDS |
Incoming Resources Movement esources expended in funds £ £ £ 657,346 (711,490) (54,144) 59,660 (73,370) (13,710) 98,453 (117,739) (19,286) - (1,440) (1,440) - (3,166) (3,166) 9,000 (13,616) (4,616) 7,441 (5,530) 1,911 - (1,139) (1,139) 5,367 (5,367) - 15,000 (6,581) 8,419 19,000 (4,050) 14,950 7,500 (9,978) (2,478) 221,421 (241,976) (20,555) 878,767 (953,466) (74,699) |
|---|---|
Transfers Between Funds
Fund transfers were made from the general fund to the restricted fund to cover the shortfall £nil (2024:£4,909).
Comparatives for movement in funds
| Unrestricted funds General fund Designated fund - capital works Restricted funds Social Investment Business Foundation City Bridge Trust Greater London Authority Changing Gears Plus London Sport - Regal Nike Lambeth Council - S106 Streetgames London Borough of Lambeth Social Investment Business Access Sport Community Fitness Programme Lambeth Wellbeing Grant Peter Harrison Foundation TOTAL FUNDS |
At 1.4.23 £ 311,380 142,175 453,555 818,410 14,299 4,416 2,771 34,583 2,663 4,000 - 1,059,980 - - - - 1,941,122 2,394,677 |
Net movement in funds £ (21,957) - (21,957) - (589) (4,416) (2,771) (15,297) (2,663) (4,000) 4,616 - 1,440 1,139 (1,743) 2,478 (21,806) (43,763) |
Transfers between funds £ (4,909) - (4,909) - - - - - - - - - - - 4,909 - 4,909 - |
At 31.3.24 £ 284,514 142,175 426,689 818,410 13,710 - - 19,286 - - 4,616 1,059,980 1,440 1,139 3,166 2,478 1,924,225 2,350,914 |
|---|---|---|---|---|
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
16. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| r Unrestricted funds General fund Restricted funds City Bridge Trust Greater London Authority Changing Gears Plus London Sport - Regal Nike Lambeth Council - S106 Streetgames London Borough of Lambeth Access Sport Holiday Programmes House 337 Donation Active Communities - Met Police Youth Club Community Fitness Programme Lambeth Wellbeing Grant Peter Harrison Foundation Nespresso Community Fund London Sport TOTAL FUNDS |
Incoming Resources Movement esources expended in funds £ £ £ 521,091 (543,048) (21,957) 57,641 (58,230) (589) - (4,416) (4,416) - (2,771) (2,771) 96,549 (111,846) (15,297) - (2,663) (2,663) - (4,000) (4,000) 86,604 (81,988) 4,616 1,440 - 1,440 27,724 (27,724) - 720 (720) - 19,040 (19,040) - 5,000 (3,861) 1,139 - (1,743) (1,743) 6,251 (3,773) 2,478 5,000 (5,000) - 5,000 (5,000) - 310,969 (332,775) (21,806) 832,060 (875,823) (43,763) |
|---|---|
17.
CONTINGENT LIABILITIES
The Black Prince Trust and the Social Investment Business Foundation signed an amendment on November 2022 to an agreement originally signed in 2011 which provided a £1,000,000 loan for the purchase of the leasehold land now known as the Black Prince Community Hub. The original loan plus accumulated Interest has been converted into a grant payment in the event that the leasehold land and buildings are disposed of by November 2029. In that event there would be a Contingent payment of £1,059,980.
18. RELATED PARTY DISCLOSURES
Other than Key Management Compensation disclose in Note 11, During the year, one Trustee provided professional services valued at £900 (2024: £6,000).
19. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received Decrease in debtors Increase/(Decrease) in creditors Net cash provided by operations |
31.3.25 £ (74,699) 90,385 (4,185) (25,917) 84,383 69,967 |
31.3.24 £ (43,763) 88,724 (3,697) 34,305 (40,033) 35,536 |
|---|---|---|
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
20. ANALYSIS OF CHANGES IN NET FUNDS
| At 1.4.24 | Cash flow | At 31.3.25 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 409,062 | 73,986 | 483,048 |
| 409,062 | 73,986 | 483,048 | |
| Total | 409,062 | 73,986 | 483,048 |
21. COMPANY LIMITED BY GUARANTEE
The Charitable Company is limited by guarantee and has no share capital. Every member of the Company undertakes to contribute to the assets of the Company in the event of its being wound up, for payments of the debts and liabilities of the Company, such amount as may be required, not exceeding £1.
22. DEFERRED INCOME
| Balance as at 1st April Amount Released to Income during the Year Amount deferred in the Year |
31.03.25 £ 62,020 (62,020) 161,229 161,229 |
31.03.24 £ 89,169 (89,169) 62,020 62,020 |
|---|---|---|
Deferred income represents funding received in advance for projects and programmes to be delivered during the 2025/2026 financial year. This includes: Nike £15,833 (2024: £28,036), City Bridge Trust £14,460 (2024:£17,030), Facility hire £nil (2024: £3,014), Sport England £7,440 (2024: £8,000), Peter Harrison Foundation £1,250 (£nil), Basketball England £800 (£nil), Access Sports £900 (£nil), Other programmes £3,133 (£nil) and Girls football programme £500 (2024:nil) Lambeth Council £116,912 (2024: £5,940), These amounts will be recognised as income in the period in which the related activities are carried out.
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