Reglstered number.. 11360503 Charity number: 1193331 CRYSTAL PALACE PARK TRUST (Reglstered Charlty and Company Llmlted by Guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 CRYSTAL PALACE PARK TRUST {Rog￿tar9d CharKy and Company Limited by Guarantee) CONTENTS Page R&ference and admlnlstratlve details of the Trust, Its Trustees and advlsèrs Trustèes. report Independ•nt auditors. report on th• flnancial statements Consolldaled statement of flnanclll aetlvltle$ 2-10 15 Consolldated balance sheet 16-17 Trust balonce sh991 18-19 Con$olldat•d gtatement of Cash flowy 20 Nol68 to the fSnanclal ytat•ment# 21-34 CRYSTAL PALACE PARK TRUST (Reglstergd Charlty and Company Llmltod by Guarantèe) REFERENCE AND ADMINISTRATIVE DETAILS OF THE TRUST, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trust¢•s A Couchman (resigned 4 February 20251 D Forde E Hatch J Ignatius (appointed 30 April 20241 A Jenkins P Kolvin KC, Co Chair L Marshall R Smslh A Stevens M Tempia, Co Chair G Woodfall Company règlstered numbgr 11360503 Charlty reglstered number 1193331 R&gl8tered offlc• GLL College Ledringlon Road London SE19 2BB Company sècrètary Bharal Pandya Chlèf executlve offlcer Victoria Pinnington Independent audltors Nyman Libson Paul LLP Chartered Accountants Stalulory Auditors 124 Finchley Road London NW3 5JS Page 1 CRYSTAL PALACE PARK TRUST {Règl8torèd Charlty and Company Llmited by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Introdu¢tlon The Trustees present their report together with the eonstslidaled group financial slalemenls of the Crystal Palace Park Trust for the period 1 January 2024 10 31 December 2024. The Trustees conlimi that their report and financial sl8lemenls of the charitable company comply wrth the current statutory requirements, the requirements of the charitable companys govorning document and the provisions of the Slalemenl ol Recommended Practice ISORPI applicable lo charities preparing their accounts in accordan¢¢ with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 leffeclive 7 January 20191. Since the 9roup and the Trust qualty as small under section 383 of the Companies Act 2006, the group strategic report required of medium and large companies under the Companies Act 2006 Islralegic Report and Directors. Report) Re9ulalions 2013 has been omitted. Objectives and purpo80 The main objecl ol Ihe charity is lo manage and improve Crystal Palace Park for the public benefit. In setting objectives and planning lor aclivilies, thè Trustees have considered general guidance published by the Charity Commission relating lo publ* benefrt, including the guidance'Public benefit.. running a charity IPB21'. Crystal Palace Park Trust is a ¢harity that formed in 2016, recruiting an independent board of loc81 experts and campaigners to support ils development. It was Incorporated in 2018 and obtained charitable slalus in 2021. In September 2023, after decades of eommunily eampaigning. Crystal Palace Park Tru51 look over custodianship DI the unique landscape of Crystal Palace Park via a 125-year lease from the London Borough of Bromley lo whom the park had been Iran51erred fDllowin9 Ihe dissolution of the Greater London Council, Vlslon. To make Crystal Palace Park an oulslanding modem park lor London. whilè relelling Ihe history of the park for the nation. Ml$$lon'. 'To proled, manage and impTOVe Crystal Palace Pork 8$ a green, historic, ecological, recreational, sporting. cuttural. and educational resource in the interests of the community and other park users. Charltablo Obj•cliv•s'. To preserve. protect. manage. and improve the physical and natural environment of Crystal Palace Park. To promote recreation in the park, Including arts, Culture, and heritage and lo promote Sporting aetivilies. To advance the education ol the public, Including the history and heritage of the park. 2024 Ovop41ew 2024 was a milestone year for Crystal Palace Park and the communities that live in the surrounding five Boroughs Icroydon, Bromley, Lewisham, Lambelh and Soulhwarkl. After decades of community ¢8mpaigning for 8 new way lO￿ard for this beloved 'surrogale back g8rden' and nationally 18nd internationally) significant historic site, the Trust entered ils first lull year as the park's new custodian. Over the twelve months during 2024 our team ttelivered a slep-change In the quality of day-104ay grounds maintenance in the park, launched a unique venue follow￿ng a multimillion restoration project. made rapid progress towards the start of an ambitious park regeneration scheme, and expanded the breadth and reach of the cultural. heritage and sporting programming for the benefrt of visitors. At the same lime. the Trust's growing and arnbiliou5 Staff team worked hard behind the scenes lo develop the resilience and financial sustainability of the charity, and one capable of doing justice lo this 170-year-old landscape whilst better serving Its almost one million vi511s per year. This report details som& of the highlights in the delivery of our charitable objectives. Page 2 CRYSTAL PALACE PARK TRUST (Roglstered Charlty and Company Limited by Guarantè•) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 To pre$9n*g, protgct. manage, and improve the physlcal and natural 8nvlronmgnt of Crystal Palace Park. Park management and malntonance Crystal Palace Park is not your typical park. Al over 200 acres Il is far larger than most urban parks. Beloved as a 'ba¢k garden, lo many people in the surrounding neighbourhoods, rt is a150 of national and international significance due lo ils design as the grounds lo the Victorian architectural masterpiece, The Crystal Palace, and ils rich unique herila9e including the 170-year-old world-famous dinosaurs. Today. circa one million people visit the park every year., lo relax and meet friends and family, lake part in sports and physical exercise. enjoy worldrtion of this relales lo events o¢curring after the year end, which has been reflected in deferred income and will be recognised in next year's Profil or Loss. The ¢onsolidaled balanee $heel shows the financi81 position of the Trust and rts trading subsidiary as 8131 December 2024. As recognised earlier the introduction of car park charging made a significant contribution lo Ihg inetsme. Together with Qlher lease, management and conces6ion income. alongside significant grant income supporting Tevenu9 ¢OStS, the Trust is on a sound foundation. During the period, groundwork was a150 put in place lo develop a culture of philanthropy in relation lo the park. Over the coming years we will be expanding our fundraising activities whether grants from trusts and foundations. individual giving. major gifts, legacie$ or c¢rporale partnerships lo support the Trust in achieving rts mission. Overall. 2024 was also an exlrgmely successful ygar for events in the park, both commercially run and communily-led. with event income managed through the trading subsidiary, Crystal Palace Park Events Ltd. The overall trading position was slrong with a profil of £120,398 12Q23" £358.8051 and a turnover of £1.206.221 12023.. £973,172). The tremendou5 hard work pul in by the events team 18 acknowledged for achieving the excellent result this year. 11 is anlicipaled that the Trust's income and expenditure levels will start lo slabilise in the region of £2 - £2.5 million in the coming y08rs a5 we consolidate doliv8ry of our new remit. The Trust also continued lo raise additional reslricled monies lo support capital project developments. Including those outlined in the regeneration plan, as we aimed lo restore and enhance all the park's Incredible heritage assets under our guardianship, and develop new infrastructure, attractions and services. Grants were pledged andlor seeured from The National Lollery Heritage Fund1£5ml, Garfield Weston Foundalion1£500kl, Wolfson Foundation 1£1 OOKI, London Marathon Foundation 1£140kl and Pilgrim Trusl1£30kl. alongside millions from enabling development funding arising from land sales of pockets of publicly inaccessible land on the north-east side of the park. The major £3.6m, tWO*year resloralion of the Grade Il'_lisled Crystal Palace Subway was also compEeled during this period wrth major grants awarded by Histori¢ England and the City of London Strategic Investment Pot. Page 7 CRYSTAL PALACE PARK TRUST IRoglst•rod Charlty •nd Company Llmlled by Guaranloel TRUSTEES. REPORT ICONTINUEOI FOR THE YEAR ENDED 31 DECEMBER 2024 5b. Golng concern After makin9 appropriate enquiries. the Trustees havè a reasonable expectation that the Tru51 has adequate resources to ¢ontinue in operational existence for the near future. For thi5 reason, they continue lo adopt the going concern basis in preparing the financial slatemenls. Further details regarding the adoption of the going concern basis can be found in the accounting policies. 5¢. Reservos pollcy Range of unrestrlctod free roseryes As the Tru51 commenced lull operation as the custodian of the park in September 2023. the Trustees have a9reed to build the unrestricted free reserves fund over a period of years. Taking this approaeh aims 1¢ reduce the risk ol removing a large portion ol the working capital the Trust has lo fully operate and maintain the park. Th¢ Trustees agree that until the organisalion has a robust understanding of the costs of maintaining the park, and has time to address the delicils in maintenance that has built up over several years. including preserving heritage aggel8, funds need lo be available lo carry out a programme ol works to 8ddress Ihe8e i58ueg. In considering the appropriate largel range of unreslricled free reserves needed. the Trustees have considered the income slr¢ams and how robust they are. the impact il there is a partial or complet& wilhdrawal of funding, and any gaps in new funding. The gnvironmgnlal risks as well as the cost of closure were also con51dered when setting the largel range ol unreslr*cted free reserves. Unrestrlcled Ire¢ reserves The largel unrestricted free reserves range is based on Core c¢ns01idaled essential expenditure for up lo six months. The rninimum level ol unrestricted free re$9rves a$ Identified in the core budget is £654.S96 and represents 27'1t ol the lolal expenditure budget lor 2024. The maximum level of unrestricted free reserves as identified by the Core budget is £897.177 which represents 370A of the lolal expenditure budget for 2024. Given the youth of the charity and the signrficanlly Changed operating c¢nlaxl as 8 rèsuli of the major capital regeneration project that is starting in the park in 202S and il bringing some uncortainly around koy income streams namely evenl$ and filmin9 the Trust has deemed it prudent lo hok1 the maximum level ol unreslricled ￿SeNe$ of £897.177. Designatgd Funds The Trustees have 8gr8ed that the surplus funds of £239.783 wll be designated for special Projects identified by the Trust as a high priority and where they would not normally fit easily into the 8nnual timetable or spending profile of the Trust. These funds will support delicils In maintenance that have buitt up over several decades, Including preserving heritage assets, alongside implementing key organis8tic>nal priorrties as the Trust grows. Sd, Rlsk management A risk management policy and framework is in place for managing business risks and considers all aspects of Ihe Trust's operations and cutture. These risks arè identified and monitored for each area ol operation as well as for major proie¢ts and significant new aelivilies. The Senior Leadership Team formally reviews these fisks quarterly during the year, as well as discussin9 them al their regular meetings. Trustees review the major fisks to which the Trust is exposed and the measures taken lo mitigate them al both the quarterly Finance Committee and Board meetings. The principal risk is around the capacity of our workforce lo deliver the scope of projects outlined. particularty in the area of ¢apilal works. The regeneration project delivery will add a substantial workload lo many teams Page 8 CRYSTAL PALACE PARK TRUST (Registered Charity and Company Llmtted by Guaranto8) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 acros5 the organisalion over the next few years. This will need lo be managed Carefully to ensure other projects and day-lowday activities do not suffer as a consequence. and that the wellbeing ol staff continues to be prioritisfjd. Another significant risk is around our ability lo scale up the organisalional infrastructure and resources sufficiently and rapidty enough lo meet the Cufrent demands ol running and caring lor a 200-acre park with subslanlial areas of heritage delicil and inadequate facilities and services. There will be Some additional reliance on external consullanls and expertise in the initial years lo support the development of our organisalional resilience and tru$tees have designated some reserves lo enable this exceptional work lo lake place. Finally. we have identified the voL41ility of the festival m8rkel and our over-reliance on this particular income stream as a key area ol risk. Measure5 to mili9ale this inelude the appointment of head ol commercial lo help grow and diversify other afeas of commercial income alongside the development of our fundraisin9 activity in¢ludin9 the launch of a new individual giving scheme. Se. Fundralslng and compllancg The Trust delivèrèd ils fundraising aclivily via in-house staff. with the support of freglance fundraiyers for the regenoralion Capilal fundraising campaign. The Trust is registered with the Fundraisin9 Regulator, Th&re have been no complaints made about lundra15ing aclivily. whether by the Trust or a third party, during this reporting period. Structure, gov•rnancè and managamènt Constltutlon Crystal Palace Park Trust is registered as a charitabl& company limited by guarantee antj was sel up by a Trust deed. Memorandum and articles incorporated 14 May 2018 as amended by special resolution registered al CDmpan1es House on 22 January 2021. Methods of appolntment or electlon of Truslg9$ The managemènt of the Trust is the responsibility of the Trustees who are elected and co-opted under the terms of th8 Trust deed. nductlon and tralnlng of Trustees All Irusleès reeeive induction training, and also annual training by our ch8rily solicitors Messrs. Russell Cooke. The Trust board meets every months. There 15 a Finance Sub-commillee, chaired by Lynsey Marshall, which also meets every months, and which dgals with finan¢¢, audit, risk. governance and compliance. Statgment of Trustees, responslbilitles The Trustees Iwho are also the directors of the Trust for the purposes of company lawl are responsible for preparing the Trustees, report and the finan¢ial statemfynts in a¢¢ordance with applicable law and United Kingdom Accounting Stand8rd$ IUnit8d Kingdom Generally Ac¢èpled Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law. the Trustees musl not approve the financial slalemenls unless they are satisfied that they give a true and fair view of the slate of affairs of the Trust and of its incoming resources and application of resources. including ils income and expenditure, for that period. In preparing these financial stslements, the Trustees are required lo". seled suitable accounting policies and then apply them consistently.. obserye the methods and principles of the Charitie5 SORP IFRS 1021., make judgments and accounting eslimales that are reasonable and prudent., Page 9 CRYSTAL PALACE PARK TRUST IRegh5ter•d Charlty and Company Llmited by Gu•raTrtee} TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 slate whether applicable UK Accounting Standards IFRS 1021 hav¢ been followed, subject lo any malenal departure5 disclosed and explained in the financial slalements", prepare the financial slalemenls on the going concern basis unless rt is inappropri81e lo presume that the Trust wi15 continue In business. The Tru51eès are responsible for keeping adequate accounting records that are sufficient lo show and explain the Trust's transactions and disclose with reasonable accuracy at any lime the financial position of the Trust and enable them lo ensure that the financial slalèmenls comply wrth the Companies Act 2006. They are also responsiblg for safeguarding the assets of the Trust and hence for taking reasonable steps lor the prevention and deleelion of fraud and olhef Irregularities. Approved by order of the membèrs of the board of Trustees on 12 Sepleniber 2n25 and signed on their behaK by.. M Tempia Co Chair P Kolvln KC Co Chair Page 10 CRYSTAL PALACE PARK TRUST IR•ght•r•d Charlty and Company Llmlted by Guarant￿) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF CRYSTAL PALACE PARK TRUST Oplnlon We have audited the financial slalemenls of Crystal Palace Park Trust Ilhe 'parenl charitable company'l and its subsidiariès Ilhe 'group'i for the year ended 31 December 2024 which comprise th8 consolidated statement of financial acliv11ies. the consolidated balance sheet. the trust balance sheet. the eon$olid8led slalernenl ol cash flows and th¢ rglaled notes. including a summary of signthcanl accounting policies. The financial reporting framework that has been applied in their preparation Is appl*cable law and United Kingdom A￿o￿ntIng Standards. including Financial Reporting Standard 102 'The Finaneial Reporting Standard applicable in the UK and Republic of Ireland. (Unitèd Kingdom Generalty Aecepled Accounting Procliee}. In our opinion the financial slalemenl5'. 91v• o tru• and fair viow of the slate of the Group'$ and of tho p#r•nt ¢harilabl• company's affairs as al 31 December 2024 and of the Group's incoming rfj$ourc05 ond aPpli￿110n of r•sources, including rt$ income and gxpenditure for the year then ended., have b￿n propety prepared in a￿ordance with United Kingdom Generally Accepted Accounting Pract￿¥. and have been prepared in accordance the requirements of the Companies Act 2006 and the Charities Act 2011. 8a•l• lor oplnlon Wè eondueled OUT 8LFdrt In aceordance with International Sl8ndards on Auditing IUKI IISAS IUKII and applicable Igw. Our re¥ponsibililie$ under those slandards are fyrther described in the Auditors, responsibilities lor the audit of Ihe financial statemenls section of our report. We are Independent ol the Group In accordance with the ethical requirements that are relevant lo our audit ol th8 financial slalèmenls In the Unilgd Kingdom, including the Financial Reporting Council's Ethical Standard. and we have luffil￿d our other ethical re$ponsibililie$ in accordance with these requirements. We bdi•ve that th• audrt evKdence we have obtained is sufficienl and appropriate lo provide a basis for our opinion. Conclu8lon8 r•latlng to golng eonc•m In auditing the financial slalemenls, we have concluded that the Trustees, use of the going concern basis of accounting In the preparation of the financial statements 18 appropriate. Based on the work we have performed, we have not identified any material uncertainties ielating lo events or condrtiong Ihat. individually or collectively, may c881 signifi¢anl doubl on the Group's or the parent chorilable company's ability lo continue as a going concern Igr a period of al least twefve months from when the financial $18lem8nl$ ar• aulhorised for 1s$Ug. Our responsibilrtvas and the responsibilrties of the Trustèès with respect to goiri9 concem are described In the relevant sectsons of this report. Page 11 CRYSTAL PALACE PARK TRUST (RegiSte￿d Charlty and Company Llmited by Guarante•l INOEPENDENT AUDITORS. REPORT TO THE MEMBERS OF CRYSTAL PALACE PARK TRUST ICONTINUEDI Other inforniation The other information comprises the infom)alion included in the annu81 report other than the financial slalemenls and our audilor5' report Ihereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does nol cover the other information and, except lo Ihe extent otherwise explicitly slated In our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the other information and. in doing so, consider whether the other Information Is materially inconsislenl with the financial slalemenls or our knowledge obtained In the course of the audit, or olhenNise appears lo be materially misslaled. 11 we Identify such material inconsislen¢ie$ or apparent material misstatements. We are required lo determine whglher this gives rise lo a material misslalemenl in the financial statements themselves, If, based on the work we have perfomed. we conclude that there Is a matèrial miss18lemenl ol this other Infofmalion. we are required lo ￿ptsrt that fact. Vve have nothing lo report in thi¥ regard. Oplnlon on other mattgrs prgscrlbed by th9 Companlgs Act 2008 In our opinion, based on the work undert8ken in the course ol the audit. the information given in tho Trustoes, Report for th8 financial year fr)r which the financial slalemenls are prepared is consislenl with the financial stalemenls. the Trustees. Report has been prepared in accordance with applicable legal requirements. Matters on whl¢h we are requSred to report by excèptlon In the light of our knowledge and understanding of tho cttarilablg company and ils environment oblaingd iri the course of the audit, we have not identified material misslalemenls in the Trustees, Report. We have nothin9 to report in respeel of the following matters in relation lo which Companies Act 2006 requires us lo report lo you if, in our opinion.. the parent charitable company has not kept adequate and sufficient accounting records. or relums adequate for our audit have nel been receivèd from branches not visited by us". or the parent charitable company financial slalemenls are not in agreement with the accounting records and returns". or certain disclosures of Trustees, remuneration specified by law are not made., or we have not received all the information and explanations we require lor our audit". or the Tru51ees were not enlilled to prepare the financial stataments in accordance with the small companies rogimo and take advantage of the small companies, exernplions in preparing the Trustees, Report and from the requirement to prepare a Strategic Repc)rt. Page 12 CRYSTAL PALACE PARK TRUST {RegL8terod Charlty and Company LlmSted by Guarant901 INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF CRYSTAL PALACE PARK TRUST ICONTSNUEDI R&sponsibilities of trustees As explained more lully in the Iruslees, respon5ibililies slalemenl, the Truslges (who are also the directors of the charitable Ctsmpany lor the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the Trustees determine 1s necessary lo enable the preparation of financial slalemenls that are free from material misslalemenl. whether due lo fraud or error. In preparing the financial slalement$, the Trustees are responsible for assessing the Group's and the paTent charitable Company'5 ability lo continue as a going concern, disclosin9, as applicable. mallers related lo going conc&rn and using the going concern basis ol accounting unless the Trustees either intend lo liquidate the Group or the parent charitable company or lo cease operations. or have no realistic af(ernative bul lo do so. Audllorn. responslbllFtles for the audll of thg flnan¢lal statoments Our objectives are lo obtain reasonable assurance about whether the financial statemen15 as a whole are free from material misslalemenl, whether due lo fraud or error. and lo issue an auditors, report that includes our opinion. Reasonable assurance is a high level of a8suraneè. bul 18 not a guarantee that an audrt conducted in accordance with ISAS IUKI will always detect o material misslalemenl when il exists. Misslalemenls can arise from fraud or èrror and are considered material if. individually or in the aggregate, they could reasonably be expected lo influencg Ihg g¢onomic decisions ol users taken on the basis of these financial slalemenls. Irregularities. including fraud, are instances of non4ompliance with laws and regulations. We design pr¢xedures in line with our responsibilitie$. outlined above, lo (Select matèrial misslalemenls in respect of irregularities. including fraud. The extent lo which our procedures are capable ol delecling irregularities, including fraud Is detailed below.. We gained an underslanding of the legal and regulatory framework applicable to the charity and the industry in which il operates, and considered the risk of acts by the company that We￿ contrary lo applicable laws and regulations, including fraud. We designed audit procedures lo respond lo the risk. recognising that the risk of not detecting a material misslatemenl due lo fraud 15 higher than the risk ef not delecling one resutting from error, 86 fraud may involve deliberate concealment by. for example, Iofgery or intentional misrepresenlalions. or through collusion. We focussed on laws and regulations which could gNe rise to a material misstatement in the financial statements, includin9, but not limited ID, the Companies Act 2006. Our tests Included agreeing the financial slalemenl disclosures to underlying supporting do¢umenlalion and enquifies with management. There are inherent limitations in the audit procedures described above and. the further removed non-compliance with laws and regulation5 is from thè events and transactions reflected in the financial sl8lemenls. the less likely we would become aware DI rt. We did not Identify any key audit matters relating to irregularilie5. including fraud. As in all our audits, we also addressed the risk of management override of internal Controls. Including lesling journals and evaluating whether there was evidence of bias by the Iruslees that represented a risk of malenal misstatement due lo fraud. A further description of our responsibilities for the audit ol the financial slalemenls is located on the Financial Reporting Council's website al". www.frc.or .uklaudilors￿s onsibililies. This description forms part of our audiloTS' report. Page 13 CRYSTAL PALACE PARK TRUST IR¢gl$tgrgd Charlty and CompJny Llmlted by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF CRYSTAL PALACE PARK TRUST ICONTINUEDI Use ofour report This report is made solely to the charitable company's Iruslees, as a body, in accordance with Chapter 3 of Part 16 01 the Companies A¢1 2006, and lo the charitable company's trustges, as a body, Part 4 of the Chafilies IAccounls and Reports) Regulations 2008. Our audit work has beèn undertaken so that we might slate lo the eharilable company's Iruslees those mallers we are required lo slate lo them in an auditors, report and for no other purpose. To the fullest extent permilled by law, we do not accept or assume responsibility lo anyone other than the charitabl& company and 11$ members, a$ a body, for our audit work, for this report, or for the opinions we have formed. Andr•w Thomas l$enlor statutory audltorl for and on behaLf of Nyman Llbson Paul LLP Chartered Accountants Slalulory Auditors 124 Finchley Road London NW3 5JS Dale.. 25 September 2025 Page 14 CRYSTAL PALACE PARK TRUST (Reglstèrod Charlty and Company Llmltsd by Guarantwl CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 DECEMBER 2024 Unreslricled funds 2024 Total fund$ 2024 Total lund$ 2023 Note Income from: Donations and legacies Other trading activities Investments Olhgr incomo 435.191 1,206.221 289.226 2,073 435,191 1,206,221 289.226 2.073 60,474 955,172 45,598 Total In¢omo 1,932,711 1,932.711 1.061,244 Expendlturg Qll: Charilable aclivrties 1,699,302 1,699.302 968,514 Total èxpendlturfr 1,699,302 1.699.302 968.514 N•t movomont in fund* 233,409 233.409 92.730 Roconclllatlon of funds.. Total funds brgughl forward Not movomenl in funds 903,551 233,409 903.551 233.409 810.821 92.730 Total funds carrled fotward 1.136,960 1.136.960 903.551 The Consolidated Slalemenl Of Financial Activities includes all gains and losses recognised in the year. The nolos on pages 21 10 34 form part of the58 financial slalemenls. Page15 ## **CRYSTAL PALACE PARK TRUST (Registered Charity and Company Limited by Guarantee) REGISTERED NUMBER: 11360503** ## **CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2024** |**Fixed assets**
Tangible assets
**Current assets**
Debtors
Note
12
14
Cash at bank and in hand
Creditors: amounts falling due within one
year
15
**Net current assets**
**Total net assets**
**Charity funds**
Unrestricted funds
16
**Total funds**|263,713
1,181,924
1,445,637
(537,428)|2024
£
228,751
228,751
908,209
1,136,960
1,136,960
1,136,960|245,220
970,927
1,216,147
(530,643)|2023
£
218,047
218,047
685,504
903,551
903,551
903,551| |---|---|---|---|---| The Trust was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. However, an audit is required in accordance with section 151 of the Charities Act 2011. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees on and signed on their behalf by: 12 September 2025 **Page 16** CRYSTAL PALACE PARK TRUST IReglst•red Charlty and Company Llmiled by Guarantèe} REGISTERED NUMBER: 11360503 CONSOLIDATED BALANCE SHEET ICONTINUEDI AS AT 31 DECEMBER 2024 M Tempia P Kolvln KC The notes on pages 21 to 34 form part of thesè financial slalemenls. Page 17 CRYSTAL PALACE PARK TRUST IR¢gSstered Charity and Company Limlted by Guarantee) REGISTERED NUMBER: 11360503 TRUST BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Flxed assets Investments 13 Current assets Debtors Cash al bank and in hand 14 659,S23 662,691 951,167 203.970 1,322,214 1.1S5,137 Creditors.. amounts falling due within one year 15 1185,2551 1251,5871 Net current a58ets 1,136,959 903,550 Total net as$et$ 1,136,960 903.551 Charlty funds Unreslricled funds 16 1,136,960 903,551 Total fund# 1,136,960 903,5S1 Page18 CRYSTAL PAL4CE PARK TRUST IRggl$tgred Charity and Company Llmlted by Guarantgfj) REGISTERED NUMBEIi. 11360503 TRUST BALANCE SHEET ICONTINUEDI AS AT 31 DECEMBER 2024 The Trust's net movement in funds for the year was £233,40912023- £92,730). The Trust was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not rèouired the enlily lo obtain an audit for the year in question in aecordance with section 476 of the Companies Act 2006. H¢)wever, an audit is requir￿ in accordance with section 151 of the Charities Ael 2011. The Trustee$ acknowledge their responsibilities for complying with the requiremonls of the A¢1 with respeel lo accounting records and preparation of financial slalemenls. The financial slalemenls have been prepared in accordance with the provisions applicable lo ènliliès subject lo the small compan1es re9im@. The financial slalemenls were approved and aulhorised for issue by the Tru8188s on 12 September 2025 and signed on their behalf by.. M Templa C¢￿haIr P Kolvln KC Co-chair The notes on pages 2110 34 fomi part of these financial slalements. Page 19 CRYSTAL PALACE PARK TRUST IRegl8tered Charfty and Company Llmitod by Guaranto0} CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Cash flows from operating activitles Net cash used In operating activities 233,064 111.325 Cash flows from Inv•stlng actlvilles Purchase ol tangible fixed assets 122,0671 1147.2291 Net cash used In Snvestlng actlvltles 122.0671 1147.2291 Change In ¢a¥h and cash •quivalents In the yoar Cash and cash equivalents al the bgginning of the ygar 210,997 135,9041 1,006,831 970,927 Cash and cash equlvalèntl at the end of the year 1.181,924 970.927 The nol&s on pages 21 10 34 fomi part of thèse financial slalements Page 20 CRYSTAL PALACE PARK TRUST (Reglstered Charlty and Company Llmlt•d by Guarant•el NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 General Informatlon Crystal Palace Park Trust is a private Limited Company by guarantee without share capital use of 'Limiled' exemption. The registered office addres5 is Gll College, Ledringlon Road. London. England, SE19 2BB. Accountlng poIIci•s 2.1 Basis of prgparjtlon of flnancl41 statements The financial slalemenls have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reportin9 by Charities. Slalemenl of Recommended Practice applicable lo charities preparing their ac¢ounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Compani88 Act 2006. Crystal Palace Park Trust meets the definition ol a public benefit enlily under FRS 102. Assets and liabilities are initially recognised al historical cost or Iransa¢lion value unloss othgrwi$g $lalgd In tho relevant accounting policy. The eon$olid8led glalemènl of financial activities ISOFAI and consolidated balance sheet con$olidale the financial statements of the Trust and ils subsidiary undertaking. The resutts of the subsidiary are consolidated on a line by line basis. The Trust ha5 taken advanla9e of the exemption allowed under section 408 01 the Companies Act 2006 and has not presented Ils own slalemenl of financial activities in these financial stalemenls. 2.2 Golng concern The Iru51ees have reviewed the circumstances of the charity and consider that adequate resources are available lo fund the activities of tho charity for the forese8able future. Th8reloro the trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. Page21 CRYSTAL PALACE PARK TRUST (Registèr￿ Charlty and Company Llmlted by Guar8ntèe> NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2024 Accounting policios Icontinu•dl 2.3 Income Donations are recogni5ed once the Trust has èntillemènl Its thè income. it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the consolidated slalement ol financial activities on a receivable basis. The balan￿ ol Income received for specific purposes bul not expended during the period is shown in the relevant funds on the balance sheet. Where income is received iri advancè of enlillemenl of receipt, ils recognition is deferred and included in creditor5 as deferred income. Where onlillemenl ￿curS before income is received, the income is accrued. Income lax re¢overable in ralalion lo investment income is recognised at the lime the investment income is receivable. Income from events is recognised in the period in which the event lakes place. Income from grants is recognisgd in line with the 9r8nl agréement. Rental income is reeogniseil in line with the tomis ol the lease. Conce88ions income is rg¢0gnised on a 8lraighl line b8818 during the len9th of the agreement. Car parking income is reco9nised in the period in which tho parking takes place. 2.4 Expendlturg Expenditure Is reco9nised once there is a legal or conslruclive obligation lo Iransler economic benefit lo a third party, il is probable that a transfer of economic benefits will be required in selllemenl and the amount ol the obligation can be measured reliably. Expenditure 1$ classified by 8clivty. The costs of each activity are made up of the lolal of direct costs and shared costs. including support costs invofved in undertaking each aclivily. Direct Costs attnbutable 10 8 single aclivty are allocated direetty lo that aclivrty. Expenditure on charitable activities is Incurred on direelly undertaking the activities which further the Group's objectives, as well as any associated support costs. 2.$ Tangiblg flxed assets and depreclatlon Tangible fixed as5els are capilalised and re¢ognis&d when future economic benefits are probable and the cost or value of the asset can be measured reliabty. Tangible fixed assets are initially recognised al cost. After recognition, under the cost model. tangible fixed assets are measured al cost less accumulated depreciation and any 8ccumul8led impairment losses. All costs incurred lo bring a tangible fixed asset into ils intended working condition should be included in the measurement of eosl. Page 22 CRYSTAL PALACE PARK TRUST {Registered Charlty and Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Icontlnu8dl 2.5 Tangiblg fixed asstrts and depreclallon lcontlnuedl Depreciation is charged $0 as lo alloeale the cost of tangibl8 fixed a5se15 less their residual value over their eslimaled useful live$, Depreciation is provided on the following basi8'. Capital Improvements (Toile15 el¢) Office equipment Computer equipment Concert bowl 40A Slraighl line 10VA Slraighl line 200A Straight lin 40A Slraighl line 2.6 Invgstments Investments in subsidiaries are valued al cost less provision for impairment. 2.7 Debtor¥ Trade and other (Jebtors are recoynised al the 8elllemenl amount after any trade di5¢0unl offered. Prèpayments are valued al the amount prepaid nel of any trade discounts due. 2.8 Cash at bank and In hand Cash al bank and in hand includes c#sh and short-lem highly liquid investments with a short malurily ol three months or less from the date of acquisition or c)pening c)1 It)e deposit or similar account. 2.9 Liabilltl•8 and provlslons Liabilities are recognised when there is an obligation al the balance shegl dale a$ a re$ull of a past event. il is probable that a Iransler ol economic benefit will be required in settlemgnt, and the amount of the settlement can be estimated reliably. 2.10 Flnanclal instrumfrnts The Group onty has financial assets and financial liabilities of a kind that qualify as basic financial inslrumenls. B8sic financial instruments are initially recognised al transaction value and subsequently measured al their selllemenl value wilh the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.11 Penslons The Group operates a defined conlnbution pension scheme and the pension charge represents the amounts payable by the Group lo the fund in r¢specl ol the yeai. Page 23 CRYSTAL PALACE PARK TRUST IRegSsterfjd Charity and Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Aecounting pollcies Icontinuedl 2.12 Fund accountlng General funds are unrestricted funds which are availab￿ for use al the discretion of the Trustee8 111 furtherance of the general objectives of the Group and which have not been designated for othèr purpose5. Investment income, gains and losses are allocated lo the appropriate fund. Income from donJtlon$ and legaclgs Unreslrided funds 2024 Total funds 2024 Total funds 2023 Grants Oonalions Other incoming resources 328,060 328.060 54,458 1.748 4.268 107,131 107,131 Total 2024 435,191 435.191 60.474 Income from other tradlng actlvltl¥s Income from non charitabl• tfadlng aetivltles Unreslricled lund5 2024 Total funds 2024 Total funds 2023 Commercial events income Concessions Income Other events income 993,492 200,129 12,600 993,492 200,129 12,600 728,193 154.550 72,429 1,206,221 1,206,221 955,172 Total 2023 955, 172 955,172 Page 24 CRYSTAL PALACE PARK TRUST (Rogistared Charlty and Company Llmitèd by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Investm9nt In¢ome Unreslrictod funds 2024 Total funds 2024 Total funds 2023 Lga5e income 289,226 289,226 45.598 Total 2023 45,598 45.598 Other Incomlng rgsources Unreslricled funds 2024 Total funds 2024 Total funds 2023 Other operating income 2,073 2,073 Analysls of exyndlture on charltable actlyltlès Summary by fund tyPfr Unreslrieled funds 2024 Tol81 2024 Total 2023 Charitable activities 1.699,302 7,699,302 968,514 Total 2023 968.514 968,514 Page 25 CRYSTAL PALACE PARK TRUST (Reglstered Charity and Company Llmlted by Guarantoel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysls of expenditure by activities Activities undertaken directly 2024 Support costs 2024 Total funds 2024 Total funds 2023 Charitable aetivilies 979,930 719,372 1,699,302 9S8,S14 Tol812023 394,688 573,826 968,514 AnalysSs ol dlrect costs To181 funds 2024 Total funds 2023 Activities 2024 Events & Programming Icommunrtyl Park Ulililies Events Icommercio11 Concession expenses Park maintenance 63,455 67,000 28,842 11,977 e08,656 63,455 67,000 28,842 11,977 808,658 54,214 23,000 45.607 42,255 229,612 979,930 979,930 394,688 Total 2023 394,688 394,688 Page 26 CRYSTAL PALACE PARK TRUST {Reglstored Charlty and Company Llmlted by Guarantge) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysis of expgndilure by actlvltles Icontlnuedl Analy81s of support costs Total funds 2024 Total funds 2023 Actbvilies 2024 Staff costs Depreciation Professional development and memberships Accountancy and related fees Grant Pro9ramme Office èxpenditure Insurance Capital improvements Recruilmenl Lègal, professional and consuttancy fees Bad debts 554.359 11.363 7.042 46.324 554,359 11,363 7,042 48,324 329,335 3,418 3,468 41,424 8,941 49,596 18,342 16,956 23,618 71,642 9,088 40,01 Q 27,781 40,010 27,781 10,862 19,203 2.428 10,862 19,203 2,428 719,372 719,372 573,826 Total 2023 573,826 573,826 Audltors, rgmuneratlon 2024 2023 Fees payable to the Trust's audrtor for the audrt of thè Trust's annual accounts 13.500 11,500 Page 27 CRYSTAL PALACE PARK TRUST IReglstered Charlty and Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 10. Staff ¢ost$ Group 2024 Group 2023 Trust 2024 Trust 2023 Wages and salarie5 Social security costs Contribution lo defined contribution pension $¢heme$ 486,138 49.821 293,333 27.636 388.910 39.857 148,667 13,e18 18,400 8,366 14.720 4,183 554.359 329,335 443.487 164,688 Thè average number of persons amployed by the Trust during the year was as follows.. Group 2024 No. Group 2023 No. Tru51 2024 No. Trust 2023 No. Employges 10 2024 2023 The number of employees In the followlng band# are as follows:. £60,001 lo £70,000 £70.00110 £80,000 There are 512023.. 31 members of key management personnel within the charity. During the period, they received total employee benefits of £292,73312023". £157.3391. Trusteès. remunèratlon and e¥pgnse$ During the year. no Trustees rgceived any remuneration or other benefrt$12023- £NILI. During the year ended 31 December 2024, no Trustee expenses have been ineurred12023- £NILI. Page 28 CRYSTAL PALACE PARK TRUST (Reglsterod Charlty and Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 12. Tanglbl• flxgd assets Group Fixtures and fittings Office equipment Computer equipment Other fixed assets Total Cost or valuation Al 1 January 2024 Additions 134,670 7,752 3,430 14,315 5,243 79,025 222,368 22,067 Al 31 December 2024 142,422 17,745 5,243 79.025 244,435 Depreclatlon Al 1 January 2024 Charge for the year 270 1,536 1,911 1,048 2,140 3.159 4,321 11,363 5.620 Al 31 December 2024 5.620 1,806 2,959 5.299 1 5,684 Not book valuè Al 31 December 2024 136.802 15,939 2,284 73.726 228,751 Al 31 December 2023 134.870 3,160 3,332 76.885 218,047 Page 29 CRYSTAL PALACE PARK TRUST IR•glsterèd Charlty and Company Limited by Guarantoel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. Fixod ass9t investmgnl$ Crystal Palace Park Events Limited is a wholly owned subsidiary of thg Trust. The total taxable profil of the company Is gifted lo th& Tru51 in line with Ils Deed of Covenanl. Investments in subsidiary companies Trust Cost or valuation Al l January 2024 Al 31 December 2024 Net book valu• Al 31 December 2024 Al 31 December 2023 Prlnclpol subsidlar5es The following was a subsidiary undertaking of the Trust,. Name Class of Holdlng ¥har•¥ Crystal Palace Park Events Limited Ordinary 1000 The finanC￿al results of the subsidiary for the year were.. Namo In¢ome Expendilura Nel assets Crystal Paf8ce Park Events Limited 1,206.221 11,2C6,2211 Page 30 CRYSTAL PALACE PARK TRUST (R8glstered Charlty and Company LSmlt8d by Guaranteè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2024 14. Debtors Group 2024 Group 2023 Trust 2024 Trust 2023 Due wlthln on* yèar Trade debtors Amounts owed by group undertakings other debtors Prepayments 212,324 168,849 36,083 586.584 870 35,986 17,810 870,939 330 62,088 8,445 42,944 330 76,041 263.713 245,220 659.523 951,167 15. Credltors: Amounts falllng due wlthln one year Group 2024 Group 2023 Tru81 2024 Trugl 2023 Trade creditors Other laxalion én¢t social security Other creditors Accruals and deferred income 241,274 14,722 31,125 2SO,307 35.053 19.240 17,338 14,722 20,125 133,070 17,007 12,625 476,350 221,955 537,428 530,643 185,255 251,587 Page 31 CRYSTAL PALACE PARK TRUST {R•gSstered Charfty and Company Llmited by Guarant•o} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 16. Statement of funds Statement of funds - currgnl year Balance al 31 Deeember 2024 Balance al 1 January 2024 Income Expenditure Unr&striet•d fufid# General Funds all funds 903,5S1 1.932,711 11,699.3021 1,136,960 Statèmènt of funds - prlor year Balancè al 31 December 2023 Balance al 1 January 2023 Income Expenditure Unrestrlcted funds General Funds- all funds 810,821 1,061.244 1968.5141 903,SS1 17. Analysls of net assets bglwegn funds Analysis of nèt assets between funds . ¢urr8nt perlod Unr8slricted funds 2024 Total funds 2024 Tangible fixed assets Current 8ssels Credrtors due within one year 228,751 1,445,637 1537,4281 228,7S1 1,445,637 1537,4281 Total 1,138,960 1,136.960 Page 32 CRYSTAL PALACE PARK TRUST IRoglstered Charlty and Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 17. Analy$ls of ng1 assets b91￿89n funds Icontlnuadl Analysis of net ass•ts between funds - prlor perlod Unreslricled funds 2023 Total lunds 2023 Tangible fixed assets Current assets Creditors due within onè year 218,047 1,216,147 1530,6431 218,047 1,218,147 1530,6431 Total 903.5S1 903,551 18. Rèconclllatlon of nèt movèment In funds to nèt cash flow from op#ratlng tt¢tlvltle# Group 2024 Group 2023 Nel income for the period18s per Slalemenl ol Financial Acliviliesl 233,409 92.730 Adlustments for.. Depreciation charges Increase in debtors Increase in C￿ditOrS 11,363 118,4931 6,785 3,416 1257.8781 273.057 Net cash providod by operallng actlvltlo¥ 233,084 111.325 19. Analysis of cash and cash oquivalents Group 2024 Group 2023 Cash in hand 1,181,924 970.927 Totsl cash and Cash equlvalents 1,181.924 970.927 Page 33 CRYSTAL PALACE PARK TRUST IRe9lStered Chaflty and Company Limltfrd by Guarantso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 20. Analysls of changes In net debt A131 December 2024 Al 1 January 2024 Cash flows Cash al bank and in hond 970,927 210,997 1,181,924 970.927 210.997 1,181,924 21. Penslon commltments The Trust operates a defined contribution pension scheme. The assets of the scheme are held separately from those ol the group in an independently administèred fund. The pension cost charge represents contributions payable by the Trust lo the fund and amounted lo £11.52612023.. £8.3661. £Nil was payable lo the tund al the balance sheet d81e. 22. Op8r•tlng Igase commltments In 2023, Crystal P81ace Park Trust bec*me custodians of Crystal Palace Park on a 125-yeaT leasè. Thè freehoklèr. The London Borough o18romley, granted the tease al a peppercorn rate, which doos not recognise any assets. 23. Relat9d pirty transactlons Crystal Palace Park Events Limitèd donated ils dislribulable profits of £120,398 foT the year ended 31 December 202412023." £358.8051 lo Crystal Palace Park Trust in line wkth the Deed of Covenant. At the Balance Shoel dale £586,584 (£2023. £870.9391 was due from Crystal Palaee Park Events Limited. During the year donations of £1,20012tt23.. £5261 were made by the Trustee5 to thè eharily. P39e 34 Registered number.. 1285S520 CRYSTAL PALACE PARK EVENTS LIMITED UNAUDITED DIRECTORS, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 CRYSTAL PALACE PARK EVENTS UMITED COMPANY INFORMATION Dlrectors Lynsey Marshall Oliver James Edward Marshall18ppoinled 28 February 20241 Richard Michael Smith Martin Joseph Tempia Lisa Jane Tookey Gemma Alice Mary-Ann Woodfall Rgglstored number 1285SS20 Rogistergd office GLL College Ledringlon Road London SE192BB Accountants Nyman Lib50n Paul LLP Chartered Accountants 124 Finchley Road London NW3 5JS CRYSTAL PALACE PARK EVENTS LIMITED CONTENTS Page Dlrèctors, Report Accountants, Report Stalernent of Income and Retalned Earnlngs Statemgnt of Financial Position Not￿ to th• Flnanclal Statamgnts CRYSTAL PALACE PARK EVENTS LIMITED DIRECTORS. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The directors present their report and the financial statements for the year ended 31 December 2024. Directors The directors who served during the year were.. Lynsey Marshall Oliver James Edward Marshall lappoinled 28 February 20241 Richard Michael Smith Martin Joseph Tempia Lisa Jane Tookey Gemma Alice MaryAnn Woodf811 Small cornpanles notg In preparing this report, the direclors have taken advantage of the small Companies exemptions provided by section 41 SA of the Companies Act 2006. This report was approved by the boar¢J on and signgd on rt5 behaLf. Martin Joseph Tempia Dlrèctor Page 1 CRYSTAL PALACE PARK EVENTS UMITED CHARTERED ACCOUNTANTS, REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CRYSTAL PALACE PARK EVENTS LIMITED FOR THE YEAR ENDED 31 DECEMBER 2024 In order lo assist you lo fulfil your duties under the Companies Act 2008, we have prepared for your approval the financial slalemenls of Crystal Palace Park Events Limited for the year ended 31 December 2024 which comprise the Slalemenl of Income and Retained Earnings. the Statement of Financial Position and the related notes from the Company's accounting records and from information and expfanalions you have given us. As a praclising mgmber firm of thè Inslilule of Chartergd Accounlanls in England and Wales IICAÉWI, we are subject lo ethical and other profes$iDnal requirements which are detailed al https'.1￿.1¢aew.C0mlregu1ati0n. This report is made solety lo the Board of Directors of Crystal Palace Park Events Limited. as a body, in accordance with the terms of our engagement leller. Our work has been undertaken solely lo prepare for your approval the financial slalemenls of Crystal Palace Park Events Limited and stale those matter5 that we have agreed lo slate lo the Bo8rd of Directors of Crystal Palace Park Events Limited, as a body, in this report In accordance with ICAEW Technical Release TECH07116AAF. To the fulle51 extent permitted by law. we do not aceepl or assume rfj$ponsibi11ty lo anyone other than Crystal Palace Park Events Limiied and ils Board ol Direetors, as a body, for our work or for this report. 11 is your duly lo ensure that Crystal Palace Park Events Limited has kept adequate 8ccounling records and lo prepare statutory financial slalemenls Ihal give a liue and fair view DI the assets, liabilities. financial position and Pfofil ol Crystal Palace Park Events Limited. You consider that Crystal Palace Park Events Limited is exempl Irom the slalulory audit requirement for the year. We have not been instructed lo carry out an audit or review of the financial slalemenls of Crystal P81ace Park Events Limited. For this reason, we have not verified the accuracy or ¢ompleleness of the accounting records or Information and explanation$ you have given lo us and we do not, therefore, OXPTgS$ any opinion on the slalulory financial slalemenls. Nyman Llbson Paul LLP Chartered Accountants 124 Finchley Road London NW3 5JS Dale". Pagè 2 CRYSTAL PAL4CE PARK EVENTS UMITED STATEMENT OF INCOME AND RETAINED EARNINGS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Turnover Production and event costs 1.206,221 1916,2871 973,172 1363,7321 Gross proflt Administrative expenses Other operating income 289,934 609,440 1171.6091 2.073 1250,6351 Operatlng prolFt 120,398 358.80S Profll after tax 120.398 358,805 Profit for the year Distribution under deed of covenant 120,398 1120,3981 358.805 1358,8051 Retalned earnlngs at the end of the yèar The notes on pages S 10 9 form part of thèse financial slalèmenls. Page 3 CRYSTAL PALACE PARK EVENTS LIMITED REGISTERED NUMBER: 12855520 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024 2024 2023 Fixod assets Tangible assets Current assets 228,751 218.047 Debtors.. amounts falling due within one year Cash al bank and in hand 190,774 519,233 164.992 766,957 710,007 931,949 Creditors.. amounts falling due within one year 1938,7571 11.149.995) Net currènt Ilabllltle• 1228.7501 1218,0481 Total assets los$ current Ilabllltles Not asjets Capltal and regerves Called up share eapital The directors consider that the Company is enlilled lo exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company lo obtain an audit lor the year ln queslKJn In accordancè with geclion 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirement$ of the Companies Act 2006 with respect to accounting records and the preparation of financial slalemenls. The financial statements have been prepared in accordance with the provisions applieable lo companies subject to the small companie6 rogime and in a¢cordance with the provision5 Qf FRS 102 Section 1A small enlilies. The financial statements were approved and 8ulhorised for issue by the board and were signed on ils behalf on Martln Jo$gph Tgmpla Director The notes on pages 5 10 9 fomi part of these financial slalements. Page 4 CRYSTAL PALACE PARK EVENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 General Informatlon Crystal Palace Park Events Limited is a private eompany limited by guarantee and is incorporated in England. The acsdress of the pnncipal place of business is Gll Collgge, Ledrington Road, London, England. SE19 2BB. Accountlng pollcles 2.1 Basis of preparatlon of flnanelal statements The financial statement$ havfj b@en prepared under the historical cost convention unless otherwise specified within these accounting palicies and in 8ecordance with FRS 102 'The Financial Reporting Standard applicable In the UK and the Republic of Ireland, and the requirements of the Companies Act 2006. The disclosure requirements of Se¢lion 1A ol FRS 102 have been applied other than where additional disclosure is required lo show a true and fair view. The fO￿l¢WIng principal 8ecounling policies have been applied.. 2.2 Financial Reporting Standard 102 . reduced di$clo$ure exomptlons The Company has taken advantage of the following disclosure exemptions in preparing these financial slalemenls. as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": the requirements of Section 7 Slalemenl of Cash Fbws., Ihe roquiremenls of Section 3 Financial Slalgmfjnl Pr8$enlolion paragraph 3.17ldl. This information Is included In the consolidated financial slalemenls ol Crystal Palace Trust as 8131 December 2023 and Ih&se financial slalemenls may be obtained from Companies House. 2.3 Golng concgrn The directors have reviewèd the circumstances ol the company and consider that adequate resources are available lo fund the activities of the company for the forgseeable future. Therefore the directors consider that th&re are no material uncortainlies about the chority's ability lo continue as 8 going concern. 2.4 Revgnuo Revenue is recognised to the extent that il is probable that the economi¢ benefits will flow to the Company 8nd the revenue can be reliably measured. Revenue is moasured as the fair value of the consideration received or receivable. The company has the following revenue slreams".- Revenu• from events Revenue is recognised in the period in which the event takes place. Revenue from grants Revenue 15 8c¢¢unted for when receivable. Page S CRYSTAL PALACE PARK EVENTS UMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2024 Accounting policies Icontinuedl 2.$ Pensions Dèflnad contrlbutlon penslon plan The Company operates a defined contribution plan for its employees. A delined eonlribulion plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. Tho contributions are rgcognised as an expense in profil or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Slalemonl of Financial Position. The a$sel$ ol tho plan are held separately from the Company in independently administered fLJnds. 2.6 Tanglble flxgd assets Tangible fixed assets under the cost model are slated al historical cost less accumulated dèpreciation and any accurnulaled impairment losses. Historical cost includes expenditure that is directly allribulable lo bringin9 th8 asset lo the location and Condition necessary lor Il lo be capable of operating in th& manner intended by managemont. Depreciation is charged so as lo allocate the co81 of assets less their residual value over their e51imaled useful lives, using the slrai9hl-line method. Depreciation is Providfjd on the following basis.. Fixtureg and fittings Office equipment Computer equipment Other fixed assels 10• 20¢ The assets. residual values, useful live$ and depreciation methods are r&vi8wed, and adjusted prospectively if appropriate, or if there Is an Indication ol a signilicanl change since the last reporting date. Gains and losses on disposals arè delemined by comparing Ihfj proceotjs with the carrying amount and are recognised in profit or10s5. 2.7 Debtors Short-lerm debtors are measured al transadion price. less any impairment. Loans receivable are measured initially at fair value. net of transaction costs, and are measured subsequenlty at amortised cost using the effective interest method. less any impairment. 2.8 Cash and ¢ash equivalents Cash is representod by cash in hand and deposits with financial inslilulions repayable wilhoul penatty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than IhTee months from the dale of acquisition and that are readily convertible lo known amounls of cash with insignificant risk of change in value. 2.9 Creditors Short term eredilors are measured at the transaction price. Page 6 CRYSTAL PALACE PARK VIENTS UMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policles Icontinugdl 2.10 Dlvld&nds Equty dividends are recognised when they become legally payable. Interim equrty dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders al an annual general meeting. Employ••$ The avera9e monthly number of employees. including directors, during the year was 1012023 - 11}. Tanglble flxèd assets Concert bowl Computer under equipment construction Fixtures and fittings Office equipment Total Cost or valuatlon Al 1 January 2024 Addrtions 134,682 7,7S2 3.430 14,315 5.243 79,025 222,380 22,IX7 At 31 December 2024 142,434 17.745 5,243 79,ci25 244,447 Depre¢latlon Al 1 January 2024 Charge lor the year on owned assets 282 1,911 2,140 4,333 1.536 1,048 8,779 11,363 Al 31 December 2024 1.818 2.959 10.919 15,696 Ng1 book value At 31 Dacember 2024 142.434 15.927 2,284 68,106 228,751 Al 31 December 2023 134,682 3,148 3,332 76,885 218,047 Page 7 CRYSTAL PALACE PARK EVENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Debtors 2024 2023 Trade debtor8 Rent deposit Prepayrnenls 176,241 7.575 6.958 151,039 13,953 190,774 164.992 Cash and cash èqulvalonts 2024 2023 Cash al bank and in hand 519,233 766,957 519,233 768,957 Credltors.. Amounts falllng dua wlthln on• yèar 2024 2023 Trade crédrtor$ Amounts owed to group undertakings Other taxation and s¢xial security Other creditors Accruals and dèferred income 223.936 586,584 18.046 870,939 6.615 11,000 117,237 254,395 938,757 1.149,995 Penslon commltments The company operates a defined contribution pension scheme. The assgts of the scheme are hekl separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the company lo the fund and amounted lo £4.183 12023". £1,681). £NIl12023' £Nill was payable lo the fund al the balance sheet date. Page 8 CRYSTAL PALACE PARK EVENTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Related paty transactlons The company donated 115 dislribulable profits of £120,398 for the year ended 31 December 202412023.. £358.80511o Crystal Palace Park Trust in line with the Deed of Covenant. Al the Balance Sheet dale £586.58412023". £870,939) was owed lo Crystal Palace Park Trust. 10. Controllin9 party The parent undertaking is Crystal Palace Park Trust. Ils registered office address is Gll College, Ledringlon Road. London, England, SE19 2BB and ils eonsolidaled financial 51alemenls may be obtainod from the UK Companies House websrte. http$.'/lfindand-updale.¢ompany-Informalion.$eryice.gov.ukl. Page 9 Registered number: 12855S20 CRYSTAL PALACE PARK EVENTS LIMITED DETAILED ACCOUNTS - UNAUDITED FOR THE YEAR ENDED 31 DECEMBER 2024 CRYSTAL PALACE PARK EVENTS LIMITED DETAILED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Turnovgr Production and events costs 1.206.221 1916.2871 973,172 1383.7321 Gross profit 289.934 609.440 Other operating income 2.073 Le$$: ovorhoads Adminislralion Expenses 1171.6091 12SO.6351 Opèratlng profit 120,398 358,805 Proflt for the yèar 120.398 3S8.805 Page 11 CRYSTAL PALACE PARK EVENTS UMITED SCHEDULE TO THE DETAILED ACCOUNTS FOR THE YEAR ENDED 31 DECEM8ER 2024 2024 2023 Turnover Events, Filming and Programming income Concession$ Income Grant from Crystal Palacg Park Trust in respeel of Concert Bowl 1.006.092 200,129 800,622 154,550 18.000 1.206.221 973,172 2024 2023 Cost of yales Park Mainlenanee IconlractDr81 Royally payable Events & Programmes Events leommefciall Concessions expenditure Car parking expenditure Freelance costs 841,601 11,977 44,972 252,612 23,258 45,607 42,255 12,S80 5,157 916,287 363,732 2024 2023 Other operatlng Income Royalty receivable 2,073 2,073 Page 12 CRYSTAL PALACE PARK EVENTS UMITED SCHEDULE TO THE DETAILED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Administration expenses Staff salaries Staff nalional insurance Staff pension costs General offiee expenses Legal and professional Accountancy lees Bad debts Insurances Depreciation Capital Improvements Staff reeruilmenl 97,228 9,964 3,680 8,470 4,481 18.738 146,666 13,818 4.183 13,70S 19,9C6 21,330 9,088 11,567 3,416 6,956 15,422 11,363 2,263 171,609 250,635 Page 13