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← London Community Boxing Limited

2025-03-31-accounts

Company registered number 08285032

LONDON COMMUNITY BOXING LIMITED

(Company registered by guarantee no. 08285032; registered charity no. 1152348 (England & Wales))

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

(Company limited by guarantee no. 08285032, registered charity no. 1152348)

LONDON COMMUNITY BOXING LIMITED

REPORT AND FINANCIAL STATEMENTS For the year ended 31 March 2025

CONTENTS

Page
Legal and administrative information 1
Trustees' Annual Report 2
Independent examiner's report 12
Statement of financial activities 13
Balance sheet 14
Statement of cash flows 15
Notes to the financial statements 16

LONDON COMMUNITY BOXING LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS For the year ended 31 March 2025

Company reg. no. 08285032
Charity reg. no. (England) 1152348
Registered office Units 3 & 4 Bellenden Road Business Centre
Bellenden Road
London, SE15 4RF
Trustees The trustees, who are also directors under company law, who served during
the year and up to the date of this report were as follows:
Leigh Bruce, Chair
Madeleine Aldridge
Bevis Allen
David Lavarack
Ricardo Whyte
Key management Kartar Singh, Centre Manager
personnel
Bankers Barclays Bank Plc
1 Churchill Place
London
E14 5HP
Independent Examiner Anthony Epton BA FCA CTA FCIE
Goldwins Limited
Chartered Accountants
75 Maygrove Road
London NW6 2EG
Accountants NfP Accountants Ltd
3rd Floor, 86-90 Paul Street
London, EC2A 4NE

1

LONDON COMMUNITY BOXING LIMITED

BOARD OF TRUSTEES' REPORT

For the year ended 31 March 2025

The Trustees (who are the Directors of the charitable company for the purposes of the Companies Act), present their combined Directors' report and Trustees' annual report, together with the financial statements of London Community Boxing Limited for the year ended 31 March 2025. These are prepared in accordance with current statutory requirements, the requirements of the charity's governing document, and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).

The reference and administrative information set out on page 1 forms part of this report.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity London Community Boxing (‘LCB’) was constituted as a company limited by guarantee on 7 November 2012 and is therefore governed by a memorandum and articles of association. The articles of association of a charitable company, as provided by the Charity Commission, were adopted at the end of November 2012. On 28 May 2013, on the advice of the Commission, these were amended by special resolution to state the charity’s revised Objects (Clause 4) as follows:

The charity’s objects (“The Objects”) for the public benefit are the promotion of community participation in healthy recreation, in particular by the provision of facilities for amateur boxing and boxing fitness training in London.

The company was established under a Memorandum of Association which established the objects and powers of the charity and is governed under its Articles of Association. Its Directors are also its Trustees and members of the association. In the event of the company being wound-up, its members are required to contribute an amount not exceeding £1.

The provisions of the governing document were fully complied with during the period under review, under the direction of LCB’s five Trustees – Leigh Bruce (Executive Chairman), David Lavarack (Deputy Chairman), Ricardo Whyte, Madeleine Aldridge and Bevis Allen.

As the charity grows, we will keep the size and composition of the board under review. When we identify the need for new trustees, we first define the set of skills and experiences that will be additive to the future governance of the charity, identify appropriate candidates, and finally conduct interviews of shortlisted candidates. At our current small size, new candidates are interviewed by all members of the Board.

Company structure

LCB has two subsidiary companies:

2

LONDON COMMUNITY BOXING LIMITED

BOARD OF TRUSTEES' REPORT For the year ended 31 March 2025

Early in 2013 LCB Boxing Ltd became a full subsidiary of London Community Boxing Ltd, and was affiliated for the subsequent boxing season at the Black Prince Community Hub for administrative purposes. The club was re-affiliated at LCB’s new hub premises in Peckham, South London in November 2015. Fees payable by its squad members represent an additional revenue stream for the charity, as well as offering interested young people a viable exit route from recreational boxing fitness into the competitive arena.

Our aims, objectives and activities

The Trustees confirm that they have complied with their duty under the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit. LCB’s charitable objects for the public benefit are as stated above.

Our mission in executing these objects is:

To harness the power of sport as a driver of personal and community advancement, to accomplish our vision of:

In November 2015, we opened our Peckham-based boxing gym, serving as a headquarters for the charity; a welcoming, inclusive facility for the whole community; a means of sustaining and expanding the effectiveness of our outreach work; and a home for our competitive amateur boxing club.

LCB delivers boxing-based events, classes and activities both on an outreach basis and at our community boxing gym. Our ‘reach’ into the community is further extended via the charity’s mobile boxing arena, which can be erected within an hour in almost any indoor or outdoor space – serving as a powerful, iconic tool for engaging even the hardest-to-reach beneficiaries and contributing significantly to our work towards genuine inclusivity and social change.

Recruitment, appointment and induction of new Trustees

The Directors of the company (the charity) are also charity Trustees for the purpose of charity law and under the company's Memorandum and Articles are known as Trustees.

Under the articles, adopted on 3rd May 2023, any person who is appointed as a Trustee will automatically, by virtue of that appointment, become a Member. No person other than a Trustee may be admitted as a Member.

3

LONDON COMMUNITY BOXING LIMITED

BOARD OF TRUSTEES' REPORT

For the year ended 31 March 2025

New trustees are recruited through the charity’s website, social media and other online platforms and sector networks.

Full training and induction is given to all new trustees, which includes a briefing by the Chair and Chief Executive, meetings with relevant staff and volunteers and a visit to a prison.

Governance and management

The Trustees are responsible for the strategic direction and policy making of the charity. The day to day running of the charity is delegated to an employed management team which is headed by the Chief Executive Officer, supported by a team of volunteers.

All Trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 7 to the accounts.

Related parties and relationships with other organisations

London Community Boxing (LCB) beneficially owns the entire share capital of Boxing Performance Management Limited (BPM) (a company limited by share capital, company no. 8192521 (England and Wales)), through which LCB's commercial trading took place. BPM commenced trading in December 2015. Trading in the period comprised sales of fees for community gym-based activities.

The charity owns the entire issued share capital of 100 Ordinary Shares of £1 each. Its financial statements are filed with the Registrar of Companies. A summary of the trading results for the year ended 31st March 2023 is shown in Note 12.

Public Benefit

The trustees are satisfied that they have complied with the duty in Section 17(5) of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.

When planning the charity’s activities, the trustees considered the Charity Commission Guidance on public benefit. The trustees also considered how the charity had succeeded in delivering its aims, including any public benefit, when reviewing the achievements for the year which are set out below.

4

LONDON COMMUNITY BOXING LIMITED

BOARD OF TRUSTEES' REPORT For the year ended 31 March 2025

OUR ACHIEVEMENTS AND PERFORMANCE

In each annual report, we list five critical success factors in developing the charity – financial stability and growth; operational excellence; network development; developing and maintaining a strong market position; and talent management – as well as priorities for the year under each heading. Below is a summary of progress in each area.

1. Financial stability and growth

(i) Building core income in our gym

Building core income through our gym is an important element of LCB’s funding strategy. During the Covid19 pandemic, gym income declined sharply. That continued during the year that is the subject of this report but the months since have shown signs recovery. Re-establishing normal levels of core income and growth continues to be an important priority.

(ii) Fundraising

Fundraising — in particular grants funding — also remains difficult. Though here too, there have been some signs of improvement in recent months, there continues to be a severe bottleneck. Thanks to strong donation income, LCB has continued to meet its needs. However, restoring a better balance between grants, donations and gym income is a central, though still elusive, objective.

(iii) Developing funded outreach activities

During the period covered by this report, we have continued to deliver the outreach activities that are core to our purposes, mission and vision, and we deliver sessions for a greater variety of targeted groups than ever before.

Mental Health and Disability

In partnership with In Your Corner (www.inyourcorner.uk), we continued to run CONNECT, a non-contact boxing programme with an integrated mental health component for young people aged 11-18. This programme offers 3 x 12 week groups per year, and a rolling graduates programme with further boxing and development opportunities.

The programme continues to be oversubscribed with referrals of young people from local targeted youth services (Southwark Children’s Services, Youth Justice Service, CAMHS, The Nest), and our graduates group is also well attended. The programme continues to demonstrate clear impact in terms of improved mental health, social connection, and mastery of new skills.

Meet Adel (name changed to protect identity)

"I came from Afghanistan in 2016. Before I came to CONNECT I was diagnosed with PTSD (post traumatic stress disorder). I was getting angry and was struggling with my sleeping, and would have nightmares. I got referred from a psychologist.

5

LONDON COMMUNITY BOXING LIMITED

BOARD OF TRUSTEES' REPORT

For the year ended 31 March 2025

I liked meeting new people and the coaches. The coaches are enthusiastic, kind, and have integrity. I felt like I was welcome and wanted in the club. I felt safe there and if I have a bad day or something I can take out my frustrations on the punching bag. After the boxing we do some meditations. They help you with your emotions like anxiety or depression. It calms you down.

CONNECT helped with my anxiety and depression. After boxing sessions I would be tired and that would help my sleep, and I made some new friends.

As a CONNECT graduate I got my AQA unit in boxing skills—which is a qualification in boxing. I have become a boxer in competitive squads, and I'm getting ready for my first fight. CONNECT helped me be more confident to achieve these things.

My message to other young people about CONNECT would be to come and give it a try. It's a welcoming place and it will help you feel better."

CONNECT's continued impact has been recognised by the Maudsley Charity. Through their funding we will continue this impactful partnership, delivering the flagship group, the graduates programme, and adding two more groups in the gym over the next three years.

STEP

We continue to run weekly sessions during the year for young adults in the Southwark NHS Team for Early Psychosis programme. These sessions are free for the participants, who range from 18 to 35-year olds, some of whom have struggled even to leave home. Other NHS teams also send participants each week. These are funded by the NHS.

YoS

For several years now, we have run non-contact sessions for young people in Southwark Council’s Youth Offending Service. Youth workers from the YOS bring young people in to take part in regular classes for young people or to use the gym under supervision. We also run special sessions for the young people during holiday periods.

Disability

We run regular weekly session for the Cherry Garden Primary School in Peckham, a special school for children with complex mental and physical disabilities. We also host occasional sessions for older young people with disabilities, who are brought in by minibus by council services who provide them with youth club and other activities. These sessions are free for the participants.

We run weekly 2-hour sessions for adults of all ages with SEND. Paul Taylor, a young man with Cerebral Palsy who has been a participant and volunteer at LCB for several years, has become an assistant coach for these sessions as well our weekly Cherry Garden classes.

We run weekly classes during term time at the two campuses of the Greenvale School for secondary students with complex SEND issues. We also ran a session for staff at one of the two campuses during the year in question. These sessions are currently funded by Greenvale, while we apply for grants to cover the cost.

6

LONDON COMMUNITY BOXING LIMITED

BOARD OF TRUSTEES' REPORT

For the year ended 31 March 2025

We ran 4 pilot sessions in the gym with The PE and School Sports Network, which among other activities in schools, seeks to improve SEND provision across schools and provide more opportunities to SEND pupils. They bring 20 pupils with SEND from their partner schools to the gym for a 2-hour session of games, fitness activities and non-contact boxing. The sessions were a huge success and, following the end of the 4 pilot sessions, we are seeking funding to begin regular sessions during the school year.

Recovery

We run a weekly 2-hour programme for people who are in 12-step recovery (a widespread framework for people who are recovering from addiction). The 2-hour session begins with meditation and wide-ranging readings around the subject of recovery, the body, movement and spirituality and is followed by a 1-hour noncontact boxing class. This is an inclusive and accessible class which welcomes all abilities and people at all levels of fitness and activity. It is a private class, respecting the need for anonymity, so takes place when the gym is closed to the general public.

The Boxing in Recovery programme is growing from strength-to-strength with Saturday sessions often attended by over 20 people. The programme is becoming established and well known, with referrals from an increasing number of drug and alcohol services including Kairos Community Trust, Mount Carmel, SLaM, Women in Prison and The Harbour. Recently, Emma has been joined by another England Boxing qualified boxing coach who is also in recovery. He supports with coaching and managing the increasing numbers, enabling the group to be divided into beginners and intermediate for parts of the session. The participants, have formed a support network from the sessions outside the LCB setting, which is an extremely positive outcome. Some participants have also begun attending regular sessions in the gym.

OAP

We have a weekly 2-hour sessions for over 65s in the gym. These are open sessions, combining a social element with a non-contact boxing fitness session. Participants can also opt to use the gym own during this time, if they prefer not to join in the group class. A strong core of regular participants has developed with others dropping in from time to time. They too have developed a support and friendship group outside the LCB sessions.

Single mothers and children

Our sessions targeting mothers – especially single parent mothers – with young children from the Aylesbury Estate in Southwark are thriving. The women attend a weekly class in the gym, bringing their children to the sessions when needed. These sessions are free for the participants. The feedback and evaluation of these sessions is extremely strong. As with the recovery and AOP sessions, the women – many of whom say they were isolated and lonely when they first joined the classes -- have formed a support and social group outside the gym, which further underlines the positive impact.

Release

We have begun new sessions for suffering from bereavement. The Release programme is a 10-week programme, which uses boxing and light-touch therapeutic tools to support grief and loss and explore better wellbeing. Run by an LCB boxing coach in collaboration with a grief psychotherapist, the sessions combine boxing skills, fitness, strength, and conditioning with grief support, alongside a supportive peer group of likeminded people who understand the challenges of grief and loss.

7

LONDON COMMUNITY BOXING LIMITED

BOARD OF TRUSTEES' REPORT

For the year ended 31 March 2025

The sessions are non-contact and the aim is that by the end of the programme participants have improved their physical and mental health, have expressed difficult emotions through boxing, have connected with peers who have lived experience of bereavement, and are more confident exploring and processing aspects of their grief. The programme has been powerful and popular. Many of the participants who have attended have now become members of LCB and are beginning to integrate boxing training into their lives.

Partner work

At various times during the year (in particular holidays), we run sessions for partners, such as Burgess Sports, Southwark Council and Dream, Believe, Achieve. We also work with parters, such as Community Action for Refugees and Asylum Seekers (CARAS), to offer one-off session as well as sustained individual participation by young refugees they work with. These sessions are free for the participants. We also run special sessions for schools in the area.

Holiday provision

During Holiday periods, especially the long Summer Holiday we run special sessions for young people, either as an addition to our regular £1 sessions for kids or alongside partners. These sessions are free for the participants. We also provide sessions during holidays for young people in cooperation with the partners mentioned above.

Opportunities

We try as much as possible to offer volunteering, training and employment opportunities to the young people who participate in our special programmes. We also offer a youth membership, allowing them to participate in regular activities (classes, amateur boxing, gym training) for free for a period of time, so they stay in touch and continue their progress. Over the years many have taken up these offers. We currently have former programme participants working on reception, coaching, and boxing as amateurs. We could do a lot more here if we had more capacity.

2. Operational excellence

LCB aspires to be regarded as a leader for the way in which it is managed; for the quality of its service and interactions with its partners, customers and suppliers; for the effectiveness of its governance and management practices; for the quality of its coaching; for the strength of its culture; and for its integrity and transparency.

Work progressed across most areas during the year, but there was nothing particular to report here.

3. Network development

LCB’s vision – to contribute to social cohesion as well as personal and community development through the medium of boxing and boxing fitness activities – requires cooperation with a range of like-minded organisations that complement and enhance our work. For some programmes, those partnerships are essential. During the period, we continued to work with established partners and developed a number of significant new relationships, particularly in our Recovery, Release and SEND outreach efforts.

8

LONDON COMMUNITY BOXING LIMITED

BOARD OF TRUSTEES' REPORT For the year ended 31 March 2025

4. Developing and maintaining a strong market position

During this period, the community gym was well attended, despite the difficult environment for income. Our outreach activities were stronger than ever, with new partners wishing to work with us reaching out all the time, and the Amateur Boxing Club is thriving.

5. Talent management

Attracting and motivating high-quality coaches, volunteers and other professionals with specific expertise, committed to our vision and mission, is critical. All aspects of talent management, from recruitment to training to cultural compatibility to drive and commitment, remain a top priority.

We continue to benefit from the work of high-quality volunteers who boost the team by helping with to a variety of tasks, from manning reception, to assisting with outreach events, and providing expertise. Feedback from our partners and participants on the personal and technical quality of the team, as well as the culture of LCB, has been positive.

Financial review

Financial Position

The Charity reported net expenditure for the year of £14,298 (2024 - net expenditure of £5,353), details of which are shown in the Statement of Financial Activities on page 13. Total income for the year amounted to £367,666, an increase of £17,615 on the previous year; and total expenditure amounted to £381,964, an increase of £26,560 on the previous year.

Reserves Policy

LCB’s ultimate strategy is to become self-sustaining, through the model outlined in Aims, objectives and activities outlined above and elsewhere in this Report. It is envisaged that reserves will be built through planned operating surpluses, over and above those which are channelled back into the charity to support its operations in line with our objects, vision and mission.

It is our intention at present to maintain free reserves of no less than three months of core annual expenditure, which, based on current operations, is approximately £60,000. At 31 March 2025, the Charity had free reserves of £128,071 and designated reserves of £5,541. We will review this following the next

Risk Management

The major risks to which the charity is exposed have been identified and are reviewed by the Trustees on a quarterly basis. Prior to the Board’s quarterly reviews, the Finance & Risk Committee scrutinises the Risk Register and make recommendations to the Board on actions to be taken and the status given to each risk. The Trustees are satisfied that appropriate controls are in place to mitigate the major risks facing the charity.

Going Concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

9

LONDON COMMUNITY BOXING LIMITED

BOARD OF TRUSTEES' REPORT For the year ended 31 March 2025

PLANS FOR FUTURE PERIODS

LCB’s plans for future periods focus on five critical success factors: financial stability and growth; operational excellence; network development; developing and maintaining a strong market position; and talent management.

These all remain as valid today as they have been in previous years. However, managing the special challenges caused by the pandemic, both financially and in the way we engage with our users and run our programmes is our single-minded focus and is likely to remain so for the next couple of years.

As of this writing, we have made encouraging progress across all priorities.

Statement of responsibilities of the trustees

The trustees (who are also the directors of London Community Boxing Limited for the purposes of company law) are responsible for preparing the Board of Trustees' Report 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:

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.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

10

LONDON COMMUNITY BOXING LIMITED

BOARD OF TRUSTEES' REPORT For the year ended 31 March 2025

SMALL COMPANY PROVISIONS

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

Approval of the report

This report was approved by the Board of Trustees on …......................... and signed on their behalf by: 15 January 2026

Leigh Bruce

Chair

11

LONDON COMMUNITY BOXING LIMITED

INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES For the year ended 31 March 2025

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

Respective responsibilities of the Board of Trustees and examiner

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

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

Independent examiner’s statement

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

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

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

Anthony Epton BA FCA CTA FCIE

Goldwins Limited Chartered Accountants 75 Maygrove Road London NW6 2EG Date: ……………………………… 15 January 2026

12

LONDON COMMUNITY BOXING LIMITED

STATEMENT OF FINANCIAL ACTIVITIES

(incorporating Income and Expenditure Account & Statement of Total Realised Gains and Losses) For the year ended 31 March 2025

Unrestricted
Funds
Note
2025
£
INCOME FROM
Donations and legacies
2
284,046
Charitable activities
Outreach activities
7,683
3
55,937
-
-
TOTAL INCOME
347,666
EXPENDITURE ON:
Charitable activities
Community gym
4
321,046
Outreach activities
13,518
334,564
TOTAL EXPENDITURE
334,564
13,102
RECONCILIATION OF FUNDS
TOTAL FUNDS AT 1 APRIL 2024
120,510
TOTAL FUNDS AT 31 MARCH 2025
133,612
£
NET INCOME/(EXPENDITURE) FOR THE
YEAR
Other trading activities
Investment income: bank interest
Other income		 Unrestricted
Funds
Note
2025
£
INCOME FROM
Donations and legacies
2
284,046
Charitable activities
Outreach activities
7,683
3
55,937
-
-
TOTAL INCOME
347,666
EXPENDITURE ON:
Charitable activities
Community gym
4
321,046
Outreach activities
13,518
334,564
TOTAL EXPENDITURE
334,564
13,102
RECONCILIATION OF FUNDS
TOTAL FUNDS AT 1 APRIL 2024
120,510
TOTAL FUNDS AT 31 MARCH 2025
133,612
£
NET INCOME/(EXPENDITURE) FOR THE
YEAR
Other trading activities
Investment income: bank interest
Other income		 Restricted
Funds
2025
£
20,000
-
-
-
-		 Total
Funds
2025
£
304,046
7,683
55,937
-
-		 Unrestricted
Funds
2024
£
272,363
600
59,270
-
8,748		 Restricted
Funds
2024
£
9,070
-
-
-
-		 Total
Funds
2024
£
281,433
600
59,270
-
8,748
347,666 20,000 367,666 340,981 9,070 350,051
47,400
-		 368,446
13,518		 315,151
5,102		 12,160
22,991		 327,311
28,093
334,564 47,400 381,964 320,253 35,151 355,404
334,564 47,400 381,964 320,253 35,151 355,404
(27,400)
34,984		 (14,298)
155,494		 20,728
99,782		 (26,081)
61,065		 (5,353)
160,847
133,612
**£ **		 7,584
**£ **		 141,196
**£ **		 120,510
_£ _		 34,984
_£ _		 155,494
_£ _

All income and expenditure has arisen from continuing activities

The annexed notes form part of these financial statements

13

LONDON COMMUNITY BOXING LIMITED (company limited by guarantee number 08285032)

BALANCE SHEET As at 31 March 2025

Notes 2025 2024
£ £ £ £
FIXED ASSETS
Tangible assets 11 5,541 30,169
Investments 100 100
5,641 30,269
CURRENT ASSETS
Debtors 13 110,560 107,528
Cash at bank and in hand 29,513 32,870
140,073 140,398
CREDITORS: amounts falling due
within one year		 14 (4,518) (15,173)
NET CURRENT ASSETS 135,555 125,225
NET ASSETS **£ ** 141,196 _£ _ 155,494
FUNDS
Restricted funds 15 7,584 34,984
Unrestricted funds:
Designated funds 15 5,541 55,412
General fund 15 128,071 65,098
133,612 120,510
**£ ** 141,196 _£ _ 155,494

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 Companies Act 2006. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the requirements of the Companies Act 2006.

The directors acknowledged their responsibilities for ensuring that the company keeps accounting records which comply with Section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its profit or loss for the financial period in accordance with the requirements of Section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as is applicable to the company. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

The accounts were approved, and authorised for issue, by the Board of Trustees on …......................... 15 January 2026 and signed on their behalf by:-

LEIGH BRUCE, Chair

The annexed notes form part of these financial statements

14

LONDON COMMUNITY BOXING LIMITED

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025

1. ACCOUNTING POLICIES

Basis of preparation of financial statements

The accounts have been prepared under the historical cost accounting rules, and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005, Regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended), and the Companies Act 2006.

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

Judgements and key sources of estimation uncertainty are detailed in the accounting policies where applicable.

Public benefit entity

London Community Boxing (LCB) 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 or note.

Group accounts

The accounts contain information about LCB as an individual charitable company and do not contain consolidated financial information as the parent of a group. The company is exempt from the requirement to prepare consolidated financial statements as the group qualifies as a small group. Summary information from the charity's subsidiary entities is included in Note 12 below.

Company status

London Community Boxing Limited is a company limited by guarantee. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.

Going concern

The Trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. Key judgements that the charitable company has made which have a significant effect on the accounts include estimating income and expenditure for the next 12 months, in particular the likelihood of various contracts and grants being awarded.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

15

LONDON COMMUNITY BOXING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2025

Income

Income is recognised when the Charity 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 amount can be measured reliably.

Income is only deferred when: the donor specifies that the grant or donation must only be used in future accounting periods; or for performance related grants, where these are received in advance of the performances or specific event to which they relate.

Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation 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), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity 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.

16

LONDON COMMUNITY BOXING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2025

Expenditure and irrecoverable VAT

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

Fundraising costs

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

Charitable activities

Expenditure on charitable activities includes the costs of delivering services and reading activities undertaken to further the purposes of the charity and their associated support costs.

Other expenditure

Other expenditure represents those items not falling into any other heading.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Expenditure is recognised when a liability is incurred. Contractual arrangements and performance related grants are recognised as goods or services are supplied.

Allocation of support and governance costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity. Staff costs are stated on the basis of staff time. Support costs which cannot be directly attributed to charitable activities are allocated in proportion to staff costs. Staff costs are apportioned to charitable activities in proportion to staff time incurred on those activities.

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities. Governance costs are allocated to charitable activities in proportion to staff costs.

Fund accounting

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

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

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

17

LONDON COMMUNITY BOXING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2025

Tangible fixed assets and depreciation

Items of equipment are capitalised where the purchase price exceeds £2,000 and the item is expected to have a useful life of longer than one year. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Depreciation is provided on a straight-line basis at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Leasehold property - The lesser of 10 years or the remaining lease term
Fixtures and fittings - 10 years
Furniture and equipment - 5 years
Motor vehicles - 5 years

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash 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. Cash balances exclude any funds held on behalf of service users.

Creditors and provisions

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

Financial instruments

The charity 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.

Judgement and key sources of estimation uncertainty

In the application of the charity’s accounting policies, the charity is required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underling assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

18

LONDON COMMUNITY BOXING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2025

Pensions

The charity operates a defined contributions pension scheme, which is a Group Stakeholder Pension Scheme. During the year, the charity contributed up to 9% of gross pay for all staff. The contributions made during the year are treated as an expense and were £2,158 (2024 - £2,576).

2. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES DONATIONS AND LEGACIES
Unrestricted
Funds
2025
£
Charterhouse Southwark
-
CAF Charity donations
-
Gift Aid
26,069
Charity Projects Comic
Relief
-
Southwark Council
3,267
ESC Lottery
9,137
Donations from
individuals
245,573
United St Saviours
-
284,046
**£ **		 Restricted
Funds
2025
£
-
-
-
-
-
-
-
20,000		 Total
Funds
2025
£
-
-
26,069
-
3,267
9,137
245,573
20,000		 Unrestricted
Funds
2024
£
500
7,531
16,888
-
-
-
247,444
-		 Restricted
Funds
2024
£
-
-
-
9,070
-
-
-
-		 Total
Funds
2024
£
500
7,531
16,888
9,070
-
-
247,444
-
284,046
**£ **		 20,000
**£ **		 304,046
**£ **		 272,363
_£ _		 9,070
_£ _		 281,433
_£ _

3. OTHER TRADING ACTIVITIES

Income from Other Trading activities relates to management charges to Boxing Performance Management Ltd, a wholly owned subsidiary of London Community Boxing, through which its commercial trading took place.

19

LONDON COMMUNITY BOXING LIMITED

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025

4. ANALYSIS OF EXPENDITURE

Community gym
Outreach activities
Governance costs
Support costs
2024		 Staff costs
£
158,619
3,377		 Direct
costs
£
157,385
9,025		 Governance
costs
£
3,065
65		 Support
costs
£
49,377
1,051		 Total
2025
£
368,446
13,518		 Total
2024
£
327,311
28,093
161,996
-
48,301		 166,410
3,130
2,127		 3,130
(3,130)
-		 50,428
-
(50,428)		 381,964
-
-		 355,404
-
-
210,297
**£ **		 171,667
**£ **		 Nil
£		 Nil
£		 381,964
**£ **		 355,404
_£ _
Community gym
Outreach activities
Governance costs
Support costs		 127,221
8,093		 124,953
15,220		 2,557
163		 72,580
4,617		 327,311
28,093
135,314
-
48,045		 140,173
2,720
29,152		 2,720
(2,720)
-		 77,197
-
(77,197)		 355,404
-
-
183,359
_£ _		 172,045
_£ _		 Nil
£		 Nil
£		 355,404
_£ _

Of the total expenditure, £334,564 was unrestricted (2024 - £320,253) and £47,400 was restricted (2024 - £35,151).

5. NET INCOME / EXPENDITURE FOR THE YEAR

This is stated after charging / crediting:

2025 2024
£ £
Depreciation of tangible fixed assets 24,627 25,244
Operating lease payments on premises rental 66,728 63,517
Independent Examination 3,130 2,720

20

LONDON COMMUNITY BOXING LIMITED

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025

6.
STAFF COSTS AND NUMBERS
Unrestricted
Funds
2025
£
Salary costs
Wages and salaries
90,360
Social security costs
2,882
Pension costs
2,158
95,400
Other staffing costs
Contractors
85,476
HR
5,195
Staff training
3,260
Staff travel
966
190,297
**£ **		 6.
STAFF COSTS AND NUMBERS
Unrestricted
Funds
2025
£
Salary costs
Wages and salaries
90,360
Social security costs
2,882
Pension costs
2,158
95,400
Other staffing costs
Contractors
85,476
HR
5,195
Staff training
3,260
Staff travel
966
190,297
**£ **		 Restricted
Funds
2025
£
20,000
-
-		 Total
Funds
2025
£
110,360
2,882
2,158		 Unrestricted
Funds
2024
£
95,177
2,425
2,576		 Restricted
Funds
2024
£
15,535
-
-		 Total
Funds
2024
£
110,712
2,425
2,576
95,400
85,476
5,195
3,260
966		 20,000
-
-
-
-		 115,400
85,476
5,195
3,260
966		 100,178
58,383
5,022
3,353
888		 15,535
-
-
-
-		 115,713
58,383
5,022
3,353
888
190,297
**£ **		 20,000
**£ **		 210,297
**£ **		 167,824
_£ _		 15,535
_£ _		 183,359
_£ _

The average number of employees (head count based on number of staff employed) during the year was 7 (2024 - 7).

The total employee benefits of the key management personnel of the charity were £27,057 (2024 - £26,250).

During the year, no employee earned more than £60,000 (2024 - the same).

7. TRUSTEES' REMUNERATION AND EXPENSES

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

No trustees received payments in reimbursement for out-of-pocket expenses (2024 - the same).

London Community Boxing received unrestricted donations totalling £245,000 from its Trustees, without conditions, during the period (2024 - £206,380).

21

LONDON COMMUNITY BOXING LIMITED

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025

8. OTHER RELATED PARTY TRANSACTIONS

Other than trustees' expenses and subsidiary companies above, there are no reportable related party transactions to disclose for 2025 (2024 - none).

9. TAXATION

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

10. PENSION SCHEME

The charity operates a defined contributions pension scheme, which is a Group Stakeholder Pension Scheme, registered with HM Revenue & Customs in accordance with the Finance Act 2004. The fund manager invests in unitised funds, accumulating until the members chosen retirement age.

11. TANGIBLE FIXED ASSETS

Cost
At 1 April 2024 and 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2024
At 31 March 2025		 Leasehold
property
£
142,785		 Equipment
£
7,966		 Fixtures &
fittings
£
46,239		 Motorvehicl
es
£
27,495		 Total
£
224,485
125,864
16,921		 7,966
-		 36,074
4,624		 24,412
3,083		 194,316
24,628
142,785 7,966 40,698 27,495 218,944
16,921
_£ _		 Nil
£		 10,165
_£ _		 3,083
_£ _		 30,169
_£ _
Nil
£		 Nil
£		 5,541
**£ **		 Nil
£		 5,541
**£ **

12. INVESTMENTS SUBSIDIARY UNDERTAKINGS

INVESTMENTS SUBSIDIARY UNDERTAKINGS
Investments in
BOXING PERFORMANCE MANAGEMENT subsidiary
undertakings
£
Cost (one hundred £1 shares are held by the charity)
At 1 April 2024 100
At 31 March 2025 **£ ** 100

22

LONDON COMMUNITY BOXING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2025

London Community Boxing (LCB) beneficially owns the entire share capital of Boxing Performance Management Limited (BPM) (a company limited by share capital, company no. 8192521 (England and Wales)), through which LCB's commercial trading took place. BPM commenced trading in December 2015. Trading in the period comprised sales of fees for community gym-based activities.

The charity owns the entire issued share capital of 100 Ordinary Shares of £1 each. Its financial statements are filed with the Registrar of Companies. A summary of the trading results for the year ended 31st March 2023 is shown below:

Summary profit and loss account for Boxing Performance Management

Turnover
Cost of sales and administration costs
Net profit/(loss)
Amount gift aided to the charity
Retained in subsidiary
Summary of total assets and liabilities for Boxing Performance Management
Current assets
Current liabilities		 2025
£
61,959
(61,959)		 2024
£
73,696
(79,571)
Nil
£		 (5,875)
£
-
-		 -
-
3,620
(99,500)		 4,607
(101,208)
(95,880)
£		 (96,601)
£

During the year, £55,937 (2024 – £59,270) was charged by LCB to BPM for management services supplied to the trading subsidiary. At the balance sheet date, £99,500 (2024 – £100,488) was owed by BPM to LCB, including VAT payable, which arose in BPM but paid by the charity.

LCB BOXING LTD

London Community Boxing (the charity) is the ultimate parent undertaking of LCB Boxing Ltd (a company limited by guarantee, company no. 07083295 (England and Wales)). LCB Boxing Ltd did not trade during the year. It had previously traded between December 2015 and March 2017 when trading comprised management of athlete and coaching affiliations to England Boxing.

Although LCB Boxing Ltd is dormant, it continues to be affiliated to England Boxing, the National Governing Body for boxing. Operations required of the company as an Amateur Boxing Club continue under the terms of its relationship with London Community Boxing (the charity).

Summary of total assets and liabilities for LCB Boxing Ltd

Current assets
Current liabilities		 878
(3,613)		 878
(3,613)
(2,735)
£		 (2,735)
£

At the balance sheet date, £2,216 was owed by LCB Boxing Ltd to LCB, the charity (2024 - the same).

23

LONDON COMMUNITY BOXING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2025

13.
**14. **		 DEBTORS
Due within one year
Amounts due from group undertakings
BPM Intercompany
LCB Boxing Ltd Intercompany
Net wages
VAT repayment due
Other debtors
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Net wages
Social security and other taxes
Pensions
Accruals
Deferred income
Balance at 1 April 2024
Amount released to incoming resources
Balance at 31 March 2025		 2025
£
99,500
2,216
487
8,357
-		 2024
£
100,488
2,116
-
4,924
-
110,560
**£ **		 107,528
_£ _
2025
£
-
-
1,388
3,130		 2024
£
7,130
3,236
1,362
3,445
4,518
**£ **		 15,173
_£ _
-
-		 -
-
Nil
£		 Nil
£

24

LONDON COMMUNITY BOXING LIMITED

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025

15. STATEMENT OF FUNDS

STATEMENT OF FUNDS
DESIGNATED FUNDS
Fixed Assets Fund
RESTRICTED FUNDS
Comic Relief via InYourCorner
United St Saviour
SUMMARY OF FUNDS
Designated Funds
Restricted Funds
General Funds		 Brought
Forward
£
55,412		 Incoming
Resources
£
-		 Transfers and
Resources
investment
Expended gains/(losses)
£
£
-
(49,871)
Nil
£
(49,871)
£
(27,400)
-
(20,000)
-
(47,400)
£
Nil
£
-
(49,871)
(47,400)
-
(334,564)
49,871
(381,964)
-		 Carried
Forward
£
5,541
55,412
**£ **		 Nil
£		 Nil
£		 (49,871)
£		 5,541
**£ **
34,984
-		 -
20,000		 (27,400)
(20,000)		 -
-		 7,584
-
34,984
**£ **		 20,000
**£ **		 (47,400)
£		 Nil
£		 7,584
**£ **
55,412
34,984
65,098		 -
20,000
347,666		 -
(47,400)
(334,564)		 (49,871)
-
49,871		 5,541
7,584
128,071
155,494 367,666 (381,964) - 141,196

Restricted funds

In Your Corner

A grant from Comic Relief Funds is aimed at improving social behaviours of young males that have Come off track.

Designated funds

Fixed assets

Funds representing fixed assets and so are unavailable for spending.

25

LONDON COMMUNITY BOXING LIMITED

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025

STATEMENT OF FUNDS - 2024
DESIGNATED FUNDS
Fixed Assets Fund
RESTRICTED FUNDS
Comic Relief via InYourCorner
Outreach activities
GLA (SPORT UNITES)
City of London- Level up project
Youth programme
SUMMARY OF FUNDS
Designated Funds
General Funds
Restricted Funds		 Brought
Forward
£
55,412		 Incoming
Resources
£
-		 Resources
Expended
£
-		 Transfers and
investment
gains/(losses)
£
-		 Carried
Forward
£
55,412
55,412
_£ _		 Nil
£		 Nil
£		 Nil
£		 55,412
_£ _
Brought
Forward
£
38,074
3,758
10,000
786
8,447		 Incoming
Resources
£
9,070
-
-
-
-		 Resources
Expended
£
(12,160)
(3,758)
(10,000)
(786)
(8,447)		 Transfers and
investment
gains/(losses)
£
-
-
-
-
-		 Carried
Forward
£
34,984
-
-
-
-
61,065
_£ _		 9,070
_£ _		 (35,151)
£		 Nil
£		 34,984
_£ _
55,412
44,370
61,065		 -
340,981
9,070		 -
(320,253)
(35,151)		 -
-
-		 55,412
65,098
34,984
160,847
£		 350,051
_£ _		 (355,404)
£		 Nil
£		 155,494
_£ _

16. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS
Tangible fixed assets
Fixed asset investments
Net current assets		 Unrestricted Funds
Designated
General
Funds
Funds
£
£
-
5,541
-
100
5,541
122,430
5,541
£
128,071
**£ **		 Restricted
Funds
£
-
-
7,584		 Total
Funds
£
5,541
100
135,555
5,541
**£ **		 128,071
**£ **		 7,584
**£ **		 141,196
**£ **

26

LONDON COMMUNITY BOXING LIMITED

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025

17. ANALYSIS OF THE NET MOVEMENT IN FUNDS

ANALYSIS OF THE NET MOVEMENT IN FUNDS
Net movement in funds Unrestricted
Funds
2025
£
13,102		 Restricted
Funds
2025
£
(27,400)		 Total
Funds
2025
£
(14,298)		 Total
Funds
2024
£
(5,353)
13,102
**£ **		 (27,400)
£		 (14,298)
£		 (5,353)
£

18. OPERATING LEASE COMMITMENTS

The charity has no commitments arising under lease contracts (2024 - the same).

19. SHARE CAPITAL

The Company is limited by guarantee and does not have a share capital divided by shares.

20. ULTIMATE CONTROL

The charity was under the control of the Board of Trustees throughout the year.

21. OTHER COMPANY INFORMATION

London Community Boxing Limited is a charitable company limited by guarantee, registered in England with registration number 08285032. Its registered office address is International House, Holborn Viaduct, 24 London, England, EC1A 2BN. The accounts are presented in GBP rounded to £1.

27