Busen Martial Arts & Sports Trust CIO Trustees’ Annual Report & Accounts Year ended 31 March 2025 Charity No: 1169053
Busen Martial Arts & Sports Trust CIO Trustees’ Annual Report For the year ended 31 March 2025
Charity No. 1169053
TABLE OF CONTENTS
| Page | |
|---|---|
| Trustees’ Annual Report | 2 to 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 14 |
| Independent Examiner’s Report | 14 |
Busen Martial Arts & Sports Trust CIO – Annual Report 31 March 2025
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Busen Martial Arts & Sports Trust CIO Trustees’ Annual Report For the year ended 31 March 2025
Charity No. 1169053
The Trustees present their Annual Report and financial statements of Busen Martial Arts & Sports Trust CIO (also referred to as "Busen Trust" “Trust” or "the Charity") for the year ended 31 March 2025.
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The Charity is named Busen Martial Arts & Sports Trust. It is a Charitable Incorporated Organisation (“CIO”), and the Charity Registration number is: 1169053
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Busen Martial Arts & Sports Trust was granted charitable status in September 2016.
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The objects of the charity are, through the management of a Martial Arts and Fitness Centre for amateur sport, to:
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a. be a Centre of Excellence for Martial arts, particularly Karate and Judo, providing adults and young people with opportunities ranging from beginner level to international standard.
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b. promote accessible, affordable sport and fitness activities for adults and young people catering for a wide range of different abilities.
The principal areas of benefit are within the London Borough of Richmond upon Thames (“LBRuT”), however, the facility is available to wider communities reflecting the wider initial support from Sport England, London Marathon Charitable Trust, Hampton Fund and LBRuT.
- The principal office and website addresses are:
244 Stanley Road, Twickenham, TW2 5NP
www.bu-senTrust.org.uk
- The Trustees who served during the year were as follows:
Colin Sinclair – Chair of the Board of Trustees Roger Mills Mark Oakley Ian Barclay Keith Hourigan David McSweeney
6. Patron and Key advisor to the Trust is as follows:
Frank Perry, Chief Instructor, Martial Arts also Head of United Kingdom Seiki Juku Karate Organisation (UKSKO) and the Busen Martial Arts School (9[th] Dan Karate).
- Busen Martial Arts & Fitness Centre Building: commenced on site in June 2021. In the period April 2024 to March 2025, the following progress was achieved:
Year to March 2025
Continued with the commissioning of the Dojo and Gymnasium and installation of additional Sport equipment both fixed and movable along with expansion of the children’s Soft Play apparatus enabling the very youngest of children to enjoy the facilities.
The 30-year lease was signed back in January 2023; there remains some ‘snagging list’ items which are at a manageable level to be able to operate and function fully.
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Busen Martial Arts & Sports Trust CIO Trustees’ Annual Report For the year ended 31 March 2025
Charity No. 1169053
Regular classes were in place for the following activities – Karate, Judo, Gymnastics, Ju-Jitsu, Box fit and Soft Play; Membership was 730 (2024: 483) in total and weekly attendances averaging 1,100 (2024: 761).
Grand Opening 7 March 2024
As reported last year, the Trustees and Management were delighted with the Official Opening of the Centre ably conducted by Richmond Mayor, Councillor Suzette Nicholson, and amongst the dignitaries attending was Sir Vince Cable, Councillor Gareth Roberts, Council Leader and other Council members from Richmond Borough (LBRuT), Michael Dinsdale of the World Karate Federation took the opportunity to also present our Patron with a 9[th] Dan award. The evening was also treated to various martial art demonstrations culminating with ice breaks by Sensei Joe Perry and Shihan Frank Parry.
8. Funding of the Centre from start up
By way of background, the source of the funding to build the new Martial Arts & Sports Centre at Stanley Road in Teddington is summarised below:-
| By way of background, the source of the funding to build the new Martial Arts & Sports Centre at Stanley Road in Teddington is summarised below:- |
By way of background, the source of the funding to build the new Martial Arts & Sports Centre at |
|---|---|
| Capital funding towards the new building £2,082,300 (built and owned by LBRuT): | Capital funding towards the new building £2,082,300 (built and owned by LBRuT): |
| Busen Martial Arts and Sports Trust | £350,000 |
| Sport England | £250,000 |
| London Marathon Charitable Trust | £200,000 |
| London Borough of Richmond upon Thames | £1,282,300 |
| Funding for equipment towards the new building £100,000: | |
| Busen Martial Arts & Sports Trust | £50,000 |
| Hampton Fund | £50,000 |
Funding for equipment towards the new building £100,000:
The Trust was also loaned money from the Chair of the Trustees and the Patron, further details of these loans totalling £328,979 (£50,000 and £278,979 respectively) are in Note 9 to the financial statements.
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Busen Martial Arts & Sports Trust CIO Trustees’ Annual Report For the year ended 31 March 2025
Charity No. 1169053
9. Assets of the Charity as of 31 March 2025
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a. Leasehold improvements with a carrying value of £322,778 (2024: £294,167) linked to the 30-year lease followed by a 10 year right to renew.
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b. Equipment with net book value of £34,643 (2024: £81,413) including, judo mats, sports, fitness and soft play equipment.
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c. Financial assets: Trade debtors & prepayments £9,020 (2024:£ 7,770) and a Cash balance £47,368 (2024: £36,600)
10. Risks to the Charity
The Charity exists to deliver its objectives through the management of the Martial Arts & Fitness Centre. Current principal risks identified are:
Demand – if the use of the Centre does not meet with the Trust’s minimum targets to operate at, or above, break-even. The second full year of operation has demonstrated that there is strong demand for the Centre’s varied programmes, and the Centre is a going concern.
Overhead costs – the recent high inflation has impacted the facility running costs particularly in the areas of utilities and employees; the Trustees keep a watching brief on the overheads and aim to ensure that all costs are covered in order to remain financially resilient. The building is energy efficient, and the best possible tariff has been negotiated with suppliers. The employees are rewarded through competitive fixed salaries plus a modest discretionary bonus typically during holiday periods.
Building maintenance – the buildings are subject to a planned maintenance, however, as with similar such structures they are susceptible to unforeseen defects and plant & machinery failures; regular inspections are carried out and especially so for the health and safety of all in the complex.
People - the Centre’s development is dependent on a relatively small number of key officers and Trustees. The last two main risk areas of expertise identified in previous years - Talent and Building management experience - have now been mitigated further with the appointment of Richard Eve as a Trustee in early 2025 and access to HR Consultants as and when needed. Middle management staff are regularly trained to be able to cover in the event of absences at any senior level.
11. Public Benefit Statement
The Centre currently has 730 (2024: 483) members providing around 1,100 (2024: 761) average attendances per week.
The Centre is aiming to achieve 1,000 members and an ambitious 2,500 attendances per week at its seasonal peaks within 5 years of operation, although expects annual averages to be lower than this.
Discounted memberships are available to families on income support, universal credit, free school meals, unemployed and similar hardships.
The Charity is developing a range of socially beneficial programmes including access for children with a wide range of disabilities and exercise referral in conjunction with LBRuT and the NHS.
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Busen Martial Arts & Sports Trust CIO Trustees’ Annual Report For the year ended 31 March 2025
Charity No. 1169053
12. The financial statements
These financial statements have been subject to scrutiny by an independent examiner, and his report follows the financial statements which are based on the Charity Commission template for CIOs (referenced CC17) along with the template for Independent Examiners.
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and to comply with the Charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
The Trustees prepared a Reserves Policy during 2024 now that the Charity is fully established and following a second full year of Charitable Activities the Trustees primary Reserves objective in the foreseeable future remains to grow sufficient funds and capital to be able to finance the Activities and, begin to repay the subordinated loans (see Note 9); the loan repayments will be regularly reviewed balanced by meeting the Charity’s principal objectives and, therefore, the Reserves policy recognises that any repayments will have to be done most likely over the medium to long term, subject to the continuing fundraising activities being successful in generating annual surpluses in the meantime.
Approved by the Board of Trustees on 31 December 2025 and signed on its behalf:
…………………………………………..
Colin Sinclair Chair of the Board of Trustees
Date: 31 December 2025
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Busen Martial Arts & Sports Trust CIO Trustees’ Annual Report For the year ended 31 March 2025
Charity No. 1169053
________________________________
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 March 2025
| Restricted | ||||
|---|---|---|---|---|
| Unrestricted | Income | Total | ||
| Funds | Funds | 2025 | ||
| Notes | £ | £ | £ | |
| Income | ||||
| Donations & legacies | 3 | - | - | - |
| Charitable activities* | 3 | 431,297 | - | 431,297 |
| Total income | 431,297 | - | 431,297 | |
| Expenditure | ||||
| Charitable activities* | 4 | 392,785 | 10,000 | 402,785 |
| Total expenditure | 392,785 | 10,000 | 402,785 | |
| Net movement in funds | 38,512 | (10,000) | 28,512 | |
| Reconciliation of funds: | ||||
| Total funds brought forward 1 April 2024 | 32,198 | 37,500 | 69,698 | |
| Total funds carried forward 31 March 2025 | 70,710 | 27,500 | 98,210 | |
| STATEMENT OF FINANCIAL ACTIVITIES FOR | THE YEAR | ENDED 31 March 2024 | ||
| Restricted | ||||
| Unrestricted | Income | Total | ||
| Funds | Funds | 2024 | ||
| Notes | £ | £ | £ | |
| Income | ||||
| Donations & legacies | 3 | - | - | - |
| Charitable activities* | 3 | 261,817 | - | 261,817 |
| Total income | 261,817 | - | 261,817 | |
| Expenditure | ||||
| Charitable activities* | 4 | 231,854 | 10,000 | 241,854 |
| Total expenditure | 231,854 | 10,000 | 241,854 | |
| Net movement in funds | 29,963 | (10,000) | 19,963 | |
| Reconciliation of funds: | ||||
| Total funds brought forward 1 April 2023 | 2,235 | 47,500 | 49,735 | |
| Total funds carried forward 31 March 2024 | 32,198 | 37,500 | 69,698 |
*The Charitable activities commenced in January 2023 following occupation of the Martial Arts and Fitness Centre
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Busen Martial Arts & Sports Trust CIO Trustees’ Annual Report For the year ended 31 March 2025
Charity No. 1169053
BALANCE SHEET as at 31 March 2025
| BALANCE SHEET as at 31 March 2025 | |||||
|---|---|---|---|---|---|
| 2025 | 2025 | 2024 | 2024 | ||
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible assets | 6 | 357,421 | 375,580 | ||
| Total fixed assets | 357,421 | 375,580 | |||
| CURRENT ASSETS | |||||
| Debtors | 7 | 9,020 | 7,770 | ||
| Cash at bank | 47,368 | 36,600 | |||
| Total current assets | 56,388 | 44,370 | |||
| CREDITORS:amounts due within one year | 8 | (25,526) | (21,294) | (21,294) | |
| Net Current assets | 30,862 | 23,076 | |||
| Total assets less current liabilities | 388,283 | 398,656 | |||
| CREDITORS:amounts due after one year | 9 | (290,073) | (328,958) | ||
| NET ASSETS | 98,210 | 69,698 | |||
| CHARITY FUNDS | |||||
| Restricted income funds | 12 | 27,500 | 37,500 | ||
| Unrestricted funds | 12 | 70,710 | 32,298 | ||
| TOTAL FUNDS | 98,210 | 69,698 |
The financial statements on pages 6 to 13 were approved by the Board of Trustees on 31 December 2025 and signed on its behalf by:
………………………………………..
Colin Sinclair Chair of Board of Trustees
31 December 2025
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Busen Martial Arts & Sports Trust CIO Trustees’ Annual Report For the year ended 31 March 2025
Charity No. 1169053
1. ACCOUNTING POLICIES
Basis of accounting
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and under the historical cost convention, except as modified for the annual revaluation of fixed asset investments.
Within the definitions of FRS 102, the Charity is a public benefit entity.
The financial statements have also been prepared in accordance with the accounting policies set out in more detail below, to comply with the Charity's governing document, the Charities Act 2011 and 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).
Going concern
The global economy has been significantly impacted by the COVID-19 pandemic, war in the Ukraine, a spike in energy prices and high levels of inflation continue into 2025 albeit they are beginning to recede. This will continue to be a challenging time for our Trustees and the People running the Centre. However, the Trustees have considered the future likely cash flows for the Charity covering a period of at least twelve months from the date of approval of these financial statements, and they are confident that sufficient funding is available to support the on-going activities of the Charity. The financial statements have, therefore, been prepared on a going concern basis.
The financial statements do not include any adjustments that would result should the going concern basis of preparation not be appropriate. In the event that this basis is not appropriate provisions may be required and assets may need to be written down to their recoverable amount with additional liabilities possibly emerging.
Income
General donations and other similar types of voluntary income are brought into account when receivable and donated income is included gross. Donations given for specific purposes are treated as restricted income.
Investment income is accounted for on a receivable basis once the dividend has been declared or the interest has been earned.
Income receivable from charitable activities is recognised as income when earned by the Charity.
Expenditure
All expenditure is accounted for on an accruals basis and is allocated to the Charity's principal activity where the costs can be identified as being directly related to that activity. All costs that cannot be identified as relating directly to the Charity's principal activity are categorised as either support costs or governance costs. Any costs that cannot be specifically categorised are allocated in proportions based upon a suitable ratio applicable to the nature of the cost involved.
Governance costs are the costs associated in running the Charity as a United Kingdom charitable incorporated organisation and specifically include the costs of the external independent examination.
Grants payable are recognised in the period in which the approved offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognised only when the conditions attaching to the award are fulfilled. Grants offered subject to conditions, which have not been met at the balance sheet date, are noted as a potential commitment, but are not treated as a liability.
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Busen Martial Arts & Sports Trust CIO Trustees’ Annual Report For the year ended 31 March 2025
Charity No. 1169053
Tangible fixed assets
All tangible assets purchased that have an expected useful economic life that exceeds one year are capitalised and classified as tangible fixed assets. Tangible fixed assets are stated at historical cost less depreciation. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write each asset down to its estimated residual value over its expected useful life, as follows:
| Long leasehold property improvements | 3.33% | straight line |
|---|---|---|
| Fixtures, fittings, and equipment | 20.0% | straight line |
Financial instruments
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. Financial instruments are therefore classified and accounted for according to the substance of the contractual arrangement as financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its liabilities.
Financial assets and liabilities
The Charity's debtors and creditors that meet the definition of either a financial asset or a financial liability are initially recognised at the transaction value and thereafter are stated at amortised cost using the effective interest method.
Fund accounting
The general fund comprises the accumulated surpluses of unrestricted income over expenditure, which are available for use in furtherance of the general objectives of the Charity.
Restricted funds are funds subject to specific conditions imposed by donors. The purpose and use of the restricted funds are set out in the notes to the financial statements. Amounts unspent at the year-end are carried forward in the balance sheet.
Future Change in Accounting Policies
FRS102 was amended in 2024 with the associated changes in the Charities SORP expected to be effective in 2026; the most likely impact will be the introduction of the long leasehold building onto the Balance Sheet as an asset with a Right Of Use with a corresponding lease liability. Other changes are not expected to be materially different.
2. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
In the application of the Charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
There were no specific judgements, estimates and assumptions that were critical to the preparation of these financial statements.
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Busen Martial Arts & Sports Trust CIO Trustees’ Annual Report For the year ended 31 March 2025
Charity No. 1169053
3. Analysis of Income
| 3. Analysis of Income |
|
|---|---|
| Details Donation fromHampton Fund (Charity no. 211756) Charitable activities: Martial Arts & fitness Gym membership Gymnastics classes Centre hire fees Total income 4. Analysis of Expenditure Details Charitable activities: Teaching instructors Centre staff costs (note 5) Rent payable Repairs & maintenance Depreciation Equipment rental Utilities & cleaning Materials IT software & consumables Telephone & internet Advertising & marketing Printing and stationery Training Accountancy Consultancy Insurances Bank charges Charitable donation Interest General Travel Total expenditure on raising funds |
Unrestricted funds Restricted Income funds TOTAL TOTAL 2025 2024 2025 2024 2025 2024 £ £ £ £ £ £ - - - - - - 276,371 164,464 - - 276,371 164,464 80,832 46,616 - - 80,832 46,616 49,975 36,906 - - 49,975 36,906 24,119 13,831 - - 24,119 13,831 431,297 261,817 - - 431,297 261,817 Unrestricted funds Restricted Income funds TOTAL TOTAL 2025 2024 2025 2024 2025 2024 £ £ £ £ £ £ 107,909 90,016 - - 107,909 90,016 158,451 55,972 - - 158,451 55,972 14,749 3,803 - - 14,749 3,803 4,544 4,196 - - 4,544 4,196 13,389 10,302 10,000 10,000 23,389 20,302 23,966 19,867 - - 23,966 19,867 33,112 22,927 - - 33,112 22,927 16,750 2,651 - - 16,750 2,651 4,001 7,012 - - 4,001 7,012 2,579 1,731 - - 2,579 1,731 1,215 6,245 - - 1,215 6,245 2,251 1,236 - - 2,251 1,236 180 473 - - 180 473 4,919 2,544 - - 4,919 2,544 0 1,440 - - 0 1,440 654 1,240 - - 654 1,240 358 84 - - 358 84 75 75 - - 75 75 196 - 196 3,487 - 3,487 - 40 - - - 40 |
| 392,785 231,854 10,000 10,000 402,785 241,854 |
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Busen Martial Arts & Sports Trust CIO Trustees’ Annual Report For the year ended 31 March 2025
Charity No. 1169053
5. Staff costs and numbers
The total staff costs for the year were as follow:-
| Wages and salaries Social security costs Employers defined contribution pension contributions Total staff costs The average number of employees for the year, based on full-time equivalents (FTEs) was as follows: Centre manager Centre support |
2025 2024 £ £ 144,709 53,574 10,119 1,283 3,622 1,115 |
|---|---|
| 158,451 55,972 |
|
| 2025 2024 No. No. 1 1 3 1.5 |
|
| 4 2.5 |
No employee received employee benefits greater than £60,000 (excluding pension costs) in either year.
The Trustees were very grateful again for the volunteering provided by many people in the year under review.
6. Tangible fixed assets
| Cost At the beginning of the year Additions Reclassification At the end of the year Depreciation(SL= Straight Line basis & %Rate p.a.) At the beginning of the year Reclassification Charge for the year At the end of the year Net book value At the beginning of the year At the end of the year |
Leasehold Improvements £ Fittings and Equipment £ Total £ 300,000 101,654 401,654 - 5,229 5,229 50,000 (50,000) - |
|---|---|
| 350,000 56,883 406,883 |
|
| 3.33% SL 20% SL 5,833 20,241 26,074 9,722 ( 9,722 ) - 11,667 11,721 23,388 |
|
| 27,222 22,240 49,462 |
|
| 294,167 81,413 375,580 |
|
| 322,778 34,643 357,421 |
The contribution paid to LBRuT for the Leasehold premises were in two amounts of £300,000 and £50,000 i.e. totalling £350,000 which included improvements, fixed plant and floor coverings. The £50,000 was included within Fittings and Equipment but has been reclassified as Leasehold Improvements during the year to reflect the nature of the expense.
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Busen Martial Arts & Sports Trust CIO Trustees’ Annual Report For the year ended 31 March 2025
Charity No. 1169053
| 7. DEBTORS Trade debtors Prepayments Total 8. CREDITORS DUE WITHIN ONE YEAR Trade creditors Other creditor – UKSKO Karate Association & AJJA Accruals Membership fees in advance HMRC: PAYE & NIC deductions Pension contributions Total 9. CREDITORS DUE AFTER ONE YEAR Subordinated Loan by Trustee (Colin Sinclair) Subordinated Loan by Patron (Frank Perry) Total |
2025 £ 2024 £ 992 1,573 8,028 6,197 |
|---|---|
| 9,020 7,770 |
|
| 2025 £ 2024 £ 5,345 10,261 7,673 4,046 1,773 - 2,892 7,757 5,843 705 525 |
|
| 25,526 21,294 |
|
| 2025 £ 2024 £ 45,000 50,000 245,073 278,958 |
|
| 290,073 328,958 |
The subordinated loan from the Trustee is interest free and repayable only once sufficient funds are available to commence repayment.
The subordinated loan from the Patron is interest free until repayment of the principal has been made in full; material repayments will only commence once sufficient funds are available to commence repayment and interest at a commercial savings rate will be applied until repayment is made in full. The interest element, if any, represents a contingent liability, and no reliable estimate can be made at this time.
Modest repayments started to be made for the loans in the summer of 2024, subject always to the forwardlooking projections. The intention is to continue the repayments on a quarterly basis as a minimum.
10. RESERVES POLICY
The Trustees developed a Reserves Policy during 2024 following the Charity’s Activities commencing in January 2023 enabling a view to be taken on likely levels of demand. In the light of the continued utilisation of the facility during 2024/25, the Trustees main focus over the foreseeable future is to remain financially resilient and grow sufficient surplus cash to pay down the subordinated loans which were the critical capital injected to enable the Charity to become fully operational. As detailed in Note 9 the allocation of funds will be balanced by meeting the Charity’s objectives thereby recognising the subordinated loan repayments will have to be made over the medium to longer term, subject to the levels of surplus fundraising activities and any donations in the meantime. The continuing financial support provided by these subordinated loans is essential for the Trust to remain a going concern and this Policy will be reviewed annually hereafter.
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Busen Martial Arts & Sports Trust CIO Trustees’ Annual Report For the year ended 31 March 2025
Charity No. 1169053
11. CHARITY FUNDS
| Current year 2025 | Current year 2025 | ||||
|---|---|---|---|---|---|
| Fund name | Purpose & Restrictions | Balance | Balance | ||
| b/fwd | Income | Expenditure | c/fwd | ||
| £ | £ | £ | £ | ||
| Restricted | To acquire Equipment and | ||||
| Income Fund: | fittings (Mats, Punchbags, | ||||
| Donation from | Seating, Gym equipment) | ||||
| Hampton Fund | 37,500 | - | 10,000 | 27,500 | |
| Unrestricted | Finance working capital of | ||||
| Fund | Charity Activities | 32,198 | 431,297 | 392,785 | 70,710 |
| Total Funds | 69,698 | **431,297 ** | 402,785 | 98,210 | |
| Prior year 2024 | |||||
| .Fund name | Purpose & Restrictions | Balance | Balance | ||
| b/fwd | Income | Expenditure | c/fwd | ||
| £ | £ | £ | £ | ||
| Restricted | To acquire Equipment and | ||||
| Income Fund: | fittings (Mats, Punchbags, | ||||
| Donation from | Seating, Gym equipment) | ||||
| Hampton Fund | 47,500 | - | 10,000 | 37,500 | |
| Unrestricted | Finance working capital of | ||||
| Fund | Charity Activities | 2,235 | 261,817 | 231,854 | 32,198 |
| Total Funds | 49,735 | 261,817 | **241,854 ** | 69,698 |
12. TRANSACTIONS WITH TRUSTEES AND RELATED PARTIES
Other than the subordinated loans mentioned above, in Note 9, the there were no transactions with Trustees or Related Parties to disclose.
Transactions with the Patron and his Busen Martial Arts School were all at arm’s length and the values were for equipment and procurement services totalling £23,862 (2024: £20,000).
The name and logo of Bu’sen Martial Arts has been provided by the Patron on a royalty free basis. The name Bu’Sen (武専 ) emanates from the founding school, Budo Senmon Gakko, for training Japanese Martial Arts based at Butokuden in Kyoto, Japan. The school was the inspiration behind the logos:-
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Busen Martial Arts & Sports Trust CIO Trustees’ Annual Report For the year ended 31 March 2025
Charity No. 1169053
13. Post Balance Sheet Events
The Patron operates a number of Martial Arts Clubs and Associations and, after 40+ years of being resident in Twickenham, LBRuT, the lease at King Street came to an end in June 2025 and the membership of the Busen Club have been offered membership at the Busen Trust.
The Trustees are in the process of agreeing the consideration payable on such a block transfer, however, to enable no disruption, the Patron and the Trustees agreed to open membership, and the Trust has already had the benefit of receiving membership fees from July 2025 onwards.
The current intention is to agree upon the consideration payable to Busen Ltd for the benefit of the increased membership transfer and the whole transaction will be subject to independent scrutiny. No reliable estimate can be made for the consideration that will become payable and full details will be provided in the next Annual Report & Accounts.
Independent Examiner’s Report
I report to the Trustees on my examination of the accounts of the Busen Martial Arts & Sports Trust (“the Trust”) set out on pages 6 to 14, for the year ended 31 March 2025.
As the charity's Trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission for England and Wales under section 145(5)(b) of the Act.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
-
the accounts did not accord with the accounting records; or
-
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
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.
Signed……………………………………….
Mark Jones MAAT
Member of the Association of Accounting Technicians
Date: 31 December 2025
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