Re&i$t8red number: 11360503
Charity number: 1193331
CRYSTAL PALACE PARK TRUST
(Registered Charlty and Company Lrmitad by Guarantee)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025

CRYSTAL PALACE PARK TRUST
CONTENTS
Page
Reference and admlnlstratlve details
Trustees, report
Independent audltors. roport on the financial statements
Consolidated statoment of flnancial actlvities
20
Consolldatod and Trust balancè sheet
21
Consolldated Statemènt of cash flows
22
Notes to the financlal statements
23-37

CRYSTAL PALACE PARK TRUST
REFERENCE AND ADMINISTRATIVE DETAILS
Trustees
A Couchman (resigned 4 February 2025)
D Forde
E Hatch
J Ignatius
A Jenkins
P Kolvin KC, Co-chair
L Marshall
R Smith
A Stevens
M Tempia, Co-chair
G Woodfall
Company registered number
11360503
Charlty regigtered number
1193331
Ragistered offlco
GLL CoLlege
Ledrington Road
London
SE19 2BB
Company secretary
H Fox (appointed 24 February 2026)
V Pinnington (appointed 1 November 2025, resigned 24 February 2026)
B Pandya (resigned 31 October 2025)
Chief executive officer
V Pinnington
Independent auditors
Nyman Libson Paul LLP
Chartered Accountants, Statutory Auditors
124 Finchley Road
London. NW3 5JS

CRYSTAL PALACE PARK TRUST
TRUSTEES, REPORT
Introduction
The Trustees present their report together with the consolidated group financial
statements of the CrystaL Palace Park Trust for the period 1 January 2025 to 31
December 2025. The Trustees confirm that the report and financial statements of
the charitable company comply with the current statutory requirements, the
requirements of the charitable company's governing document and the provisions
of the Statement of Recommended Practice (SORP) applicable to charities
preparing their accounts in accordance with the Financial Reporting standard
applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the group and the Trust quaLify as small under section 383 of the Companies
Act 2006, the group strategic report required of mediLJm and Large companies under
the Companies Act 2006 (strategic Report and Directors, Report) Regulations 2013
has been omitted.
Objectives and purpose
The main object of the charity is to manage and improve Crystal Palace Park for
the public benefit. In setting objectives and planning for activities, the Trustees
have considered general guidance pubLished by the Charity Commission relating to
pubLi¢ benef it, incLuding the guidance ' Public benefit,. running a charity (PB2)',
CrystaL Palace Park Trust was formed in 2016, recruiting an independent board of
local experts and campaigners to support its development. It was incorporated in
2018 and obtained charitabLe status in 2021. In September 2023. after decades of
community campaigning. Crystal Palace Park Trust took over custodianship of the
unique landscape of Crystal Palace Park via a 125-year lease from the London
Borough of Bromley.
Vlsion: 'To make Crystal PaLace Park an outstanding modern park for London, while
retelli ng the history of the park for the nation.
Mlssion: 'To protect. manage and improve CrystaL Palace Park as a green, historic,
ecological, recreationaL, sporting, cultural, and educational resou rce in the interests
of the community and other park users.,
Charitable Objectives:
In summary, the charitabLe objectives of the Trust are.,
a. To preserve, protect, manage. and improve the physicaL and natural
environment of CrystaL Palace Park.
b. To promote recreation in the park, including arts, cuLture, and heritage and
to promote sporting activities.
c. To advance the education of the public, incLuding the history and heritage of
the park.

CRYSTAL PALACE PARK TRUST
TRUSTEES, REPORT (CONTINUED}
2025 Overview
2025 marked the second anniversary of Crystal PaLa¢e Park Trust's new
custodianship of this Grade li* Registered Park and Garden and its many unique
attractions and venues, via a 125-year lease from the London 8orough of Bromley.
This remit brings much responsibility, and we were deLighted that after decades of
community campaigning, detailed design work, planning and fundraising. the major
regeneration and restoration works being co-deLivered with Bromley Council
started on schedule in May 2025. By the end of 2025, the capital works were well
underway and on track to be completed on schedule in Summer 2026.
At the same time, the Trust's growing and ambitious staff team continued to work
hard behind the scenes to deveLop the resilience and financial sustainability of the
charity, making it capable of looking after this special heritage site whilst better
servi ng its visitors. Alongside developi ng the Trust's organisational i nf rastructure
and resources. we launched a popular volunteering programme, established several
community advisory panels. began a regular programme of visitor research and
expanded the breadth and reach of our vibrant culturaL. heritage, education and
sporting programming. The team aLso continued to deliver a step-¢hange in the
quaLity of day-to-day grounds maintenance in the park, for the benefit of visitors.
A significant achievement during 2025 was receiving the prestigious Museums +
Heritage Award for 'Restoration Project of the Year, for the Grade Il* Subway,
Recognising the strength of the partnership between Crystal Palace Park Trust, the
London Borough of Bromley and the Friends of CrystaL Palace Subway the judges
described the project as A bold, beautifully executed restoration, blending
community energy with expert conseryation to revive a lost historic space. Driven by
local passion, it safeguards the post while creoting a vibrant future for oll.
This report details some of the highLights from 2025 in the delivery of our charitable
objectives.

CRYSTAL PALACE PARK TRUST
TRUSTEES, REPORT ICONTINUEDI
3.1 To preserve. protect, manage, and improve the physlcal and natural
environment of Crystal Palace Park.
Crystal Palace Park is not your typical park. At over 200 acres. it is far larger than
most urban parks. Beloved as a 'back garden. to many people in the surrounding
neighbourhoods, it is also of national and international significance due to its
design as the grounds to the Victorian architectural masterpiece, The Crystal
Palace. Its rich, unique heritage aLso includes the 170-year-old world-famous
dinosaurs.
Today, over one million people visit the park every year. to relax and meet friends
and family, take part in sports and physical exercise. enjoy worLd-class acts during
summer festivals. or simply have a moment of peace and enjoyment of nature,
However, following years of underinvestment and maintenance, it is now not only
on the Heritage at Risk Register itseLf. but is also home to many other assets which
are indivi dually registered.
FuLly restoring and enhancing the physical environs of the park - both its manmade
and natural assets
is a Long-term undertaking. However. in recognition of the
huge vesting of trust in our new remit. the Trust is aLready tackling some of the
most serious deficits and defects in the park. This appLies both to the important
heritage assets in the park, but also to the day-to-day facilities that the visiting
public need to have safe enjoyment of the park.
3.1.1 Day to day park manaeemont
Our grounds maintenance team, engaged via an external partner, continued to
improve the Level of care for the 200 acres of Grade Il* Listed parkLand. After years
of a Low maintenance regime, simple steps such as filling potholes, clearing Leaves
from paths, improvlng litter collection, and graffiti removal were warmly received
by the locaL community. Bins were emptied 23,000 times across the year, 78,5
tonnes of Litter was collected, and 600 metres of footpaths resurfaced. Sightlines
wer8 improved in key Locations by cutting back and thinning bushes. increasing the
safety perception of park visitors particularly at dusk. We instigated more regular
tree suNeying and works to tackle the risk to peDpLe from faLling branches.
During 2025, we were also able to significantly increase our efforts to support the
park's natural environment through the launch of a faciLitated volunteer gardening
programme. our volunteers have enjoyed hands-on experience planting, working
on habitat improvements and ongoing maintenance, including weeding the Subway
Landscape, Laying woodchip to improve path quaLity in the park's Maze and planting
up the beds in Jubilee Garden
sometimes in the rain, sLeet and even snow. The
volunteers are making a huge contribution to enhancing biodiversity across the
park. They planted 39 metres of new native hedging. over 10,000 bulbs, 41,000
new plants and 18 cherry trees. We are grateful to our volunteers for helping
Crystal Palace Park thrive for both peopLe and wildlife.

CRYSTAL PALACE PARK TRUST
TRUSTEES. REPORT {CONTINUED)
Of course. it is not possible to tackle alL the issues facing the green, blue and built
assets in this complex, 200-acre site in a single year, particularly given the scale
of the heritage and maintenance deficit. However, the hard work has truly begun,
and the team is learning how best to care for the park so that it is safe. welcoming
and enjoyable for aLL visitors, as well as a pLa¢e where wi Id lif e can f lourish.
Unfortunately, as an urban location with a porous perimeter that is accessible 24
hours a day. the park continued to experience some theft and vandalism during
the year. The Trust worked closeLy with the local police team and commissioned
a full security audit exercise d uring 2025 using heritage cri me spec ialist
consultants. The recommendations from this project will be implemented during
2026.
3.1.2 Regeneratlon pian - Dlnosaurs and TeYrace$
In 2025, we started the £21.8 million regeneration and restoration project, co-
delivering with Bromley Council, which broke ground on 19 May, This major capital
project has been many years in the making. having its origins in a 2015 regeneration
strategy which coalesced the idea of a three-pronged approach to saving the Grade
170 year old Crystal PaLa¢e Park via: a capital regeneration plan, a new
governance modeL and a new business model the Latter two realised through the
creation of the Trust.
Over the last ten years the Trust - first in the shape of a volunteer-run Shadow
Board and more recently as a registered charity wlth a professional staff team
has worked ever more closely with Bromley Council to reach the point of works
breaking ground., first through a detailed design phase with our lead Landscape
architect, fundraising for the works, securing planning permission, and
finally appointing the contractor delivery team.
Restoration works commenced on the Grade l-listed Dinosaur sculptures and their
surrounding landscape alongside the Grade 11-listed Italian Terraces,. whiLe a new
dinosaur-themed children's pLayground, maintenance depot and visitor centre also
commenced construction, alongside the creation of two new accessibLe routes
from the centre of the park to the top near Crystal Palace Parade. 268 workers
were engaged on the project on site over the year and 30 specialist delivery
partners i ncluding countless designers, engineers, plant and tree speci alists,
conservation, restoration and construction workers, aLL colLaborating as a huge
team to plan, design and deLiver the regeneration works.
3.2 To promote recreation In the park, including arts, culture, and herltage and to
promote sportlng actlvlties.
In line with the vision of the park's original designer. Sir Joseph Paxton, the Trust
is committed to making sure this is a landscape that offers delight. awe and
inspiration. And a critical part of achieving this is through bringing it back to life
with high quality cultural. heritage and sporting programming. and restoring the
park to a world-class visitor attraction, as it was in its heyday.

CRYSTAL PALACE PARK TRUST
TRUSTEES, REPORT ICONTINUEDI
Since assumirng responsibility for events and programming in the park, we have set
out to trial, refine and expand a broad offering across its unique spaces. Through
free and paid-for content, professional and amateur performers. we have met
audience appetite for 'cuLture' in its fullest definition. music, visual art. dance,
theatre. sports, heritage, pLay, learning and wellbeing. Crystal Palace Park is now a
weLcoming space, open to everyone and accessible through all seasons and during
2025 we welcomed over 1.1 million visitors to the park.
Despite the wide-spread construction works during 2025, 133,065 people attended
an event or activity in the park. Moreover, the regeneration project itseLf acted as
a powerful engagement tool with more people taking an interest in the speciaList
work required to care for a heritage site and the stories contained within the park's
200 acres.
The two major summer festivals, continued to offer world-class acts upon the
Italian Terraces and in the iconic Concert BOWL attracting 121,000 people for
performan¢es from a variety of artists in¢Luding Skepta, Busta Rhymes. Basement
Jaxx, Deftones, Rufus Du Sol and Nile Rodgers and CHIC. Polygon came to the
park for the first time offering an innovative 360-degree sound and immersive
event and we welcomed back our reguLar circus and fairground partners.
We were also delighted to welcome 12,065 adults and children to participate in
free activities organised by the Trust including 1,242 children taking part in our
flagship free activity programme Summer of Play
This included the youth 'take-
over, event delivered in partnership with Boundless Youth Theatre at their 'pop up
venue in the park. Over 420 people attended free'sunday Sounds, music events at
the Concert Platform,
3.3 To advan¢• th• educatlon of the publ1¢, Includlng the history and herltage of
tho park.
The origins of the Trust lie in creativity. innovation and education, and it is also
vital to the success of the charity that we maintain a strong connection to the
needs. interests and aspirations of the neighbouring communities.
Indeed, the park is Cherished by many people and groups in the surrounding five
boroughs. In 2025 we set up a range of ways for people to get more irnvoLved in
caring for and learning more about the park and sharing their views about what
could be Improved in the future.
We launched our volunteering programme in early 2025 offering opportunities to
support events. heritage and gardening and contributing 1.635 volunteer hours. We
ran a volunteer fair on behalf of 13 Local volunteer organisations where hundreds
of visitors expLored ways to get involved in their local community. As mentioned
earlier, the estabLishment of the gardening programme has been a particular
success. A freelance Community Gardening facilitator was recruited and working
cLoseLy with the Trust's Lead Gardener and the Volunteering team delivered two

CRYSTAL PALACE PARK TRUST
TRUSTEES, REPORT {CONTINUEDI
weekly sessions with up to 10 volunteers engaged each time. One volunteer said..
My sociul skills have improved but most importontly volunteering has greatly
helped my mental wellbeing being port of o community.
We also launched new Advisory Groups to elevate key voices through the Young
Advisory Group and the Access Advisory Group which both met regularly
throughout the year. 346 people shared their views through our new in-park ALVA
Visitor Experience benchmarking survey delivered via three waves of questionnaires
throughout the year.
During 2025. 154 people attended a'behind the s¢enes' talk about the regeneration
project delivered by a specialist in the construction team. These were hugely
popular so more will be rolLed out in 2026. 2,000 peopLe used the new self-guided
interpretation leaflet for the award-winning Crystal PaLace Subway with 81% of
those surveyed saying they learned something new. Just shy of 3,000 people came
to our 'jewel in the crown, heritage engagement opportunity
a CrystaL Palace
Subway Open Day. As mentioned in the introduction. we were honoured to win with
our partners the prestigious Museums + Heritage Award for 'Restoration Project of
the Year, for the Grade li* Subway recognising the Conservation work alongside our
work to engage the local community with the heritage and history of the site,
We worked with a number of Local schools and other education and skiLls partners
including City & Guilds of London Art SchooL during the year and continued to liaise
with the park's dedicated and enthusiastic speciaList Friends. groups and other
Local community stakeholders. Most notable among these were the Crystal Palace
Museum, Friends of Crystal Palace Skatepark, CrystaL Palace Foundation, Friends
of CrystaL Palace Dinosaurs, Friends of CrystaL PaLa¢e Park, and InvisibLe Palace.
We were particularly grateful to The Friends of CrystaL Palace Dinosaurs for their
engagement with the dinosaur restoratlon project during the year, delivered via the
capital programme and the onsite interpretation work that aims to bring the
h istory of the d inosaurs to Life,
Most significantly of all, after 18 months of discussion, the Trustees of Crystal
Palace Museum decided to wind down the independent charity that manages the
Museum and progress a jointly drafted action plan that saw the Museum and its
ar¢hive relating to Crystal Palace Park's Victorian era passed over to the Trust in
Spring 2026. The Museum's residuaL funds have been transferred to the Trust and
restricted to being used for the Museum, for exampLe by employing an archivist.
The Museum's passionate voLunteer base is being bought into the support structure
of the Trust's volunteer programme, and the Trust has recruited a Head of
Content. Learning ar)d Engagement to oversee a planned Museum redevelopment
and redispLay project. We are excited by the potentiaL for the Museum to become
the hub of our learning and engagement activities in the future.

CRYSTAL PALACE PARK TRUST
TRUSTEES. REPORT ICONTINUEDI
3.4 Partners and Fundors
Special recognition must go to the London Borough of Bromley's Regeneration
team. with whom we have extensively collaborated over the year as we co-
deLivered the regeneration works. This is a flagship partnership, and we Look
forward to going from strength to strength together.
We are also gratefuL for the continued advisory and funding support from Historic
England (HE) along with other vaLued funders including the NationaL Lottery's
Heritage and Community Funds, the Wolfson Foundation. the Garfield Weston
Foundation, Pilgrim Trust and the London Marathon Foundation amongst others.
During 2025, the Trust continued regular engagement meetings with Councillors
representing communities across the five neighbouring London boroughs of
Bromley, Croydon. Lambeth. Lewisham and Southwark. We also continued to serve
as a key stakeholder to the multi-million-pound regeneration plan for the National
Sports Centre (NSC) which sits wholLy within the footprint of the park. We are the
head leaseholder and maintain the grounds for the NSC site, whilst
the Greater London Authority (GLA) is its custodian and responsible for its
management and refurbishment. Together we are working on a 'one park, approach
across aLI ou r development activities.
3.5 Organlsatlonal reslllenc?
The Trust's organisationaL maturity has continued to embed in the Last 12 months.
At the start of 2025, the Trust published its Corporate Strategy and Plan for 2025-
27 outlini ng the di rection of travel and priority activities for the comi ng two years.
Staffing increased to 23. with a mix of fulL- and part-time staff and casual event
duty managers, while two fixed term freelancers and work experience and student
pLa¢ement roles were integrated into the Trust's operations.
During the year we Constituted a new strategic board for Project 54
anew
overarching vison that imagines the park in 2054, its bicentenary - to align our key
stakeholders under one vision (CPPT, GLA and LBB). During the year. the Trust was
governed by a diverse board of 10 trustees, many drawn from the local area and
selected for their professionaL skills via an open recruitment process. They
provided their time and expertise without remuneration and met every quarter. The
Trust's wholly owned subsidiary, Crystal Palace Park Events Limited, governed by
a separate board of directors supported our commercial revenue-generating
activities. We also created a new Capital Projects sub-committee to work alongside
the Finance sub-committee reporting into the main Board of trustees.

CRYSTAL PALACE PARK TRUST
TRUSTEES. REPORT ICONTINUEDI
Every penny we raise in the park stays in the park. Crystal Palace Park is a Large
and compLex park to care for due to its unique heritage. We spend over £2 million
every year keepir)g the park cLean, safe and welcoming for our visitors and partners.
As a registered charity the Trust raises this money through a wide range of income
sou rces incLuding festivals. events. f ilming, tenants, concessions, grant f unding and
car parking charges. In addition, the capitaL regeneration plan and restoration
projects need additional funding. We continued to work on plans to develop and
diversify our income streams working to create a 'full day out, offer for visitors
from near and further afield. We recruited a new Head of Commercial and Visitor
Experience in the latter half of 2025 alongside communications professionals. We
continue to look for sustainable ways to diversify our income for the benefit of the
park, including a sauna tender opportLJnity aiming to launch in 2026.
In addition, hundreds of other talented individuals were engaged onsite throughout
2025 as suppliers. partners. and voLunteer groups.
4. Looklng ahead to 2026 and beyond
As outlined in our Corporate Strategy and Plan 2025-27, we will continue to build
on the improvements made during the past year by delivering key activities in
pursu it of six Strategic Principles:
Welcomlng for all: We will provide infrastructure, activities and events in the
park that are safe. accessible, and incLusive. and are available to aLL its users
regardless of age. gender, ethnicity, belief or physical ability.
Conservatlon: We WILL protect, conserve, enhance and adapt the historic and
naturaL environment of the park. We WILL restore, renew and enhance the
historic structures, monuments and landscapes, in keeping with Sir Joseph
Paxton's original vision.
Envlronment: We will promote biodiversity and nature Conservation, develop a
cLimate-change resilient environment, reduce and mitigate its carbon footprint,
and enhance its open and green spaces.
Educate and Engago: We will make the park a place for learning and skills
development and support the regeneration and restoration of the park as a
resource for d iscovery, interpretation and educationaL opportunities. i ncludi ng
local museums and other institutions.
Create a place for rocrnation and enjoyment: We WILL coordinate the
development and management of events and activities within the park, its
cultural. sporting, play and Leisure faciLities, and spaces for informal uses of
the park.

CRYSTAL PALACE PARK TRUST
TRUSTEES. REPORT (CONTINUED)
Organisational resilience and e¢onomic impact: The Trust is committed to
effectively managing our resources including being a good empLoyer, partner
and client whilst providing sustainabLe financial stewardship so that we can
continue to care for, develop and share our park for the widest public benefit.
Encapsulating many of the above priorities, during 2026 we will complete and
celebrate the current phase of the park's regeneration plan in partnership with
Bromley Council. Major improvements to the park WILI include:
The creation of a new dinosaur-themed children's playground.
The restoration of the 30 Grade l-listed Dinosaur sculptures and their
surrounding landscape,,
The restoration of the G rade I l-Llsted Italian Terraces i ncluding the creation of
two new accessible routes from the centre of the park to the top near Crystal
Palace Parade;
A new Visitor Centre to replace the dilapidated Information Centre, and a new
maintenance fa¢iLity for the grounds maintenance team.
A new community centre and cafe near RockhiLLs Gate and a new feature
entrance at Penge Gate (scheduLed for 2028129).
Improved footpaths, lighting and wayfinding around the TidaL Lakes and Italian
Terraces, and
Introduction of sustainable urban drainage systems in key areas of the park to
improve water management.
Due for completion in 2026, the regeneration scheme is anticipated to increase
annuaL visit numbers by 35Vo to approximateLy 1,4 milLion per annum. An
accompanying public programme will be delivered by the Trust reaching 39.000
people over two years with a particular focus on engaging a more rliverse audience.
We will prioritises reaching diverse audiences includi ng families, particularly those
from minoritised backgrounds from the surrounding Boroughs, people with
additionallcomplex communications, sensory and access needs, and day trippers
from further afield. 2026 will also see the reopening of the Museum, the
establishment of a new Sauna destination, the introduction of a new membership
scheme, the launch of a new website and the expansion of our food and drink offer
across Other areas of the park.
FinanclaL revlow
The Trust Is a charity and during 2025 was committed to responsible, sustainable
financial stewardship. The Trust and its trading subsidiary, Crystal Palace Park
Events Ltd (CPPEL) are responsible for raising circa 9S% of the park's annuaL
revenue needs. Overall. both entities continued to develop resilience by performing
well financially. The Trust remains committed to the pledge that 'every penny
raised in the park is spent in the park.,
Total incoming resources for the year amounted to £2,656,281 (2024.. £1.932.711)

CRYSTAL PALACE PARK TRUST
TRUSTEES. REPORT ICONTINUEDI
and direct charitabLe expenditure amounted to £2.035,144 (2024: £1,699.302)
leaving a net surplus of £621,137 (2024: £233,409). At the financial year end, the
Trust had cash in the bank of £1,740.403 {2024: £1,181,924). A portion of this relates
to events occurring after the year end. which has been reflected in deferred income
and WILI be recognised in next year's income,
The consolidated balance sheet shows the financiaL position of the Trust and its
trading subsidiary as at 31 December 2025.
The introduction of car park charging in 2024 made a significant contribution to
the income. Together with other lease, management and concession income.
alongside significant grant income supporting revenue costs, the Trust is on a
sound foundation. During the period, groundwork was also put in place to deveLop
a culture of philanthropy in reLation to the park. Over the coming year5 we will be
expanding our fundraising activities
whether grants from trusts and foundations.
i ndividual givi ng, major gifts, Lega¢1 es or corporate partnerships
to support the
Trust in achieving its mission.
Overall, 2025 was a successful year for events in the park, both commercially run
and community-Led, with event income managed through CPPEL. The overall
trading position was strong with a profit of £191,488 {2024: £120,398) and a turnover
of £1,336,243 (2024: £1,206,221). The tremendous hard work put in by the events
team is acknowledged f or achieving the excellent result this year. It is anticipated
that the Trust's income and expenditure Levels will start to stabilise in the relion
of £2-2.5 mlllion in the coming years as we consolidate delivery of our remit.
The Trust aLso continued to raise additional restricted monies to support capital
projeot developments, including those outlined in the regeneration plan. as we
aimed to restore and enhance aLI the park's incredible heritage assets under our
guardianship, and develop new infrastructure, attractions and services. Along with
London Borough of Bromley. we continued to deLiver against the grants which were
pledged and/or secured from The NationaL Lottery Heritage Fund (c. £5m), Garfield
Weston Foundation (£500k), Wolfson Foundation (£100K) and Pilgrim Trust (£30k),
alongside millions from enabling development funding arising from land sales of
pockets of publicLy inaccessible land on the north-east side of the park.
5b. Golng concern
After making appropriate enquiries. the Trustees have a reasonable expectation
that the Trust has adequate resources to continue in operational existence for at
Least 12 months from the date of signing these accounts. For this reason. they
continue to adopt the going concern basis in preparing the financial statements.
Further details regarding the adoption of the going concern basis can be found in
the accounting policies.

CRYSTAL PALACE PARK TRUST
TRUSTEES. REPORT (CONTINUED}
Sc. Funds
Total funds as at 31 December 2025 were £1,758,097 (2024.. £1,136.960). Of this.
£448,341 was restricted12024: niL), £239,783 was designated (2024: £239.783) and
£1,069.973 was unrestricted (2024.. £897,177).
Restrlcted funds
Restricted funds relate to:
Regeneratior) project, £366.841
this is the regeneration and restoration
project being co-delivered with Bromley Council.
Concert Bowl development, £81,500 - towards the design phase of upgrades
to the Concert Bowl platform.
Designated Funds
In 2024 the trustees designated £239,783 for projects identified by the Trust as a
high priority and where they would not normalLy fit easily into the annualtimetable
or spending profile of the Trust. These funds are to support deficits in maintenance
that have buiLt up over several decades, including preserving heritage assets,
alongside impLementing key organisational priorities as the Trust grows,
Due to resource constraints none of the designated funds were spent in 2025. In
quarter one of 2026 we recruited a Head of SpeciaL Projects (funded from
designated reserves) to assist in planning and impLementing the projects; therefore.
we expect to spend the designated reserves in 202612027,
Sd. Reserves poll¢y
In considering the appropriate target range of unrestricted free reserves needed,
the Trustees have considered the income streams and how robust they are, the
impact if there is a partial or Complete withdrawal of funding, and any gaps in new
funding. The environmental risks as weLI as the cost of closure were also
considered.
Target unrestricted f ree reserves
The Trust aims to hold unrestricted free reserves equivalent to three to six months
of core operating expenditure (i.e., 25%-500/o of annual core costs).
Target range (based on forecasted core costs of £2.076,000 in 2026) is:
Lower bound (3 months 125%): £519,000
Upper bound (6 months / 500h): £1,038,000
Actual unrestricted free reserves
As at 31 December 2025 the Trust's unrestricted free reserves were £861,949. This
equates to c.s months of core costs. The trustees are satisfied that this is
suff icient.

CRYSTAL PALACE PARK TRUST
TRUSTEES, REPORT ICONTINUEDI
Se. Risk management
A risk management policy and framework is in place for managing business risks
and considers aLI aspects of the Trust's operations and culture. These risks are
identified and monitored for each area of operation as well as for major projects
and significant new activities. The Senior Leadership Team formally reviews
these risks qu arterly during the year, as well as discussing them at their regular
meetings. Trustees review the major risks to which the Trust is exposed and the
measures taken to mitigate them at both the quarterly Finance Committee and
Board meetings.
The principal risk is around the capacity of our workforce to deliver the scope of
projects outLined, particularly in the area of capital works. The regeneration
project delivery has added a substantial workload to many teams across the
organisation and wilL continue to do so over the next few years. This WILI need to
be managed ¢arefulLy to ensure other projects and day-to-day activities do not
suffer as a consequence. and that the wellbeing of staff Continues to be
prioritised.
Another significant risk is around our ability to scale up the organisational
infrastructure and resour¢es suffi¢iently and rapidly enough to meet the current
demands of running and caring for a 200-acre park with substantial areas of
heritage def icit and inadequ ate facilities and services. There will be some
additional reliance on external consultants and expertise i n the initial years to
support the development of our organisationaL resilience and the Trustees have
designated some reserves to enable this exceptional work to take place.
Fi nalLy, we have identified the voLati lity of the festival market and ou r over-
reLiance on this particular income stream as a key area of risk. Measures to
mitigate this incLude the appointment of commercial staff to help grow and
diversify other areas of ¢ommer¢iaL income, alongside staff to support the
development of our communications and fundraising activity incLuding the
launch of a new individual giving scheme.
Sf. Fundraising and compLlanco
The Trust delivered its f undrai sing activity via in-house staff. The Trust is
registered with the Fundraising Regulator. There have been no complaints made
about f undraising activity, whether by the Trust or a thi rd party. during this
reporting period.

CRYSTAL PALACE PARK TRUST
TRUSTEES, REPORT (CONTINUED)
6. Structure, governance and management
Constitution
Crystal Palace Park Trust is registered as a charitable company Limited by
guarantee and was set up by a Trust deed. Memorandum and articles were
incorporated 14 May 2018 a5 amended by special resolution registered at
Companies House on 22 January 2021.
Organisation gtructure
The management of the Trust is the responsibility of the Trustees who are elected
and co-opted under the terms of the Trust deed. All Trustees receive induction
training and aLso have access to training via an online platform, BrightHR.
The Trust board meets every three months. There is a Finance Sub-committee,
chaired by Lynsey Marshall, which also meets quarterly, and which deals with
finance, audit, risk, governance and compliance. We established a Capital Projects
Sub-committee in 2025, chaired by Emma Hatch, which also meets quarterly.
Day to day activity is overseen by the CEO and the senior leadership team (SLT).
The SLT comprises the Director of Park Management. the Director of Events and
Programmes, Oirector of Development and Communications, and the Director of
Finance and Corporate Services. SLT pay and renumeration is set by the Board
and reviewed annuaLIy.
14

CRYSTAL PALACE PARK TRUST
TRUSTEES, REPORT {CONTINUEDI
7. Statement of Trustees, responsibilities
The Trustees (who are also the directors of the Trust for the purposes of company
law) are responsible for preparing the Trustees, report and the financiaL statements
in accordance with applicable law and United Kingdom Accounting standards
(United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each
financiaL year. Under company law, the Trustees must not approve the financial
statements unless they are satisfied that they give a true and fair view of the state
of affairs of the Trust and of its incoming resources and application of resources,
including its income and expenditure, for that period. In preparing these financiaL
statements, the Trustees are required to,.
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP (FRS 102).
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting standards (FRS 102) have been
followed, subject to any material departures discLosed and explained in the
financial statements;
prepare the financial statements on the going eoncern basis unless it is
inappropriate to presume that the Trust will Continue in business.
The Trustees are responsible for keeping adequate accounting records that are
sufficient to show and explain the Trust's transactions and discLose with
reasonabLe accuracy at any time the tinancial position of the Trust and enable them
to ensure that the financial statements comply with the Companies Act 2006, They
are aLso responsibLe for safeguarding the assets of the Trust and hence for taking
reasonabLe steps for the prevention and detection of fraud and other irreguLarities.
In so far as the Trustees are aware;
there is no relevant audit information of which the charitable company's auditor
is unaware; and
the Trustees have taken alL steps that they ought to have taken to make
themselves aware of any relevant audit information and to establish that the
auditor is aware of that information.
Approved by order of the members of the board of Trustees on 19 May 2026 and
signed on their behalf by:
M Tompia
Co Chair
P Kolvin KC
Co Chair

CRYSTAL PALACE PARK TRUST
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF CRYSTAL PALACE PARK TRUST
Opinion
We have audited the financial statements of Crystal Palace Park Trust (the 'parent
charitable company,) and its subsidiaries (the 'group') for the year ended 31
December 2025 which comprise the consolidated statement of financial activities.
the consolidated balance sheet, the trust balance sheet, the consolidated statement
of cash flows and the related notes, including a summary of significant accounting
paLicies. The financiaL reporting framework that has been applied in their
preparation is applicable law and United Kingdom Accounting standards. incLuding
Financial Reporting stan daf d 102 'The Fi nanci al Reporti ng standard applicable i n the
UK and Republlc of Ireland, (United Kingdom Generally Accepted Accounting
Practice).
In our opinion the financial statements:
give a true and fair view of the state of the Group's and of the parent
charitable company's affairs as at 31 December 2025 and of the Group's
incoming resources and application of resources, including its income and
expenditure for the year then ended.
have been properly prepared in accordance with United Kingdom Generally
Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies
Act 2006 and the Charities Act 2011.
Basls for opinlon
We conducted our audit in a¢¢ordance with International Standards on Auditing (UK)
(ISAS (UK)) and applicabLe law. Our responsibilities under those standards are
further described in the Auditors, responsibilities for the audit of the financial
statements section of our report. We are independent of the Group in accordance
with the ethicaL requirements that are relevant to our audit of the financial
statements in the United Kingdom. including the Financial Reporting Council's
Ethical Standard, and we have fulfilLed our other ethical responsibilities in
accordance with these requirements. We believe that th8 audit evidence we have
obtained is suff icient and appropriate to provide a basis for our opinion.
ConclusFons relatlng to golng concern
In auditing the financial statements. we have concluded that the Trustees, use of
the going concern basis of accounting in the preparation of the financial statements
is appropriate.
Based on the work we have performed. we have not identified any material
uncertainties reLating to events or conditions that, individually or colLectively, may
cast significant doubt on the Group's or the parent charitable company's ability to
continue as a going concern for a period of at least twelve months from when the
financial statements are authorised for issue.
Our responsibilities and the responsibiLities of the Trustees with respect to going
concern are described in the relevant sections of this report.

CRYSTAL PALACE PARK TRUST
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF CRYSTAL PALACE PARK TRUST
Other information
The other information comprises the information included in the annuaL report other
than the financial statements and our auditors, report thereon. The Trustees are
responsible for the other information contained within the annual report, Our
opinion on the financial statements does not cover the other information and.
except to the extent otherwise explicitly stated in our report. we do r)ot express any
form of assurance concLusion thereon. Our responsibility is to read the other
information and, in doing so, consider whether the other information is materially
inconsistent with the financial statements or our knowledge obtained in the course
of the audit, or otherwise appears to be materially misstated. If we identify such
material inconsistencies or apparent material misstatements, we are required to
determine whether this gives rise to a material misstatement in the financial
statements themselves. If, based on the work we have performed, we conclude that
there is a material misstatement of this other information, we are required to report
that fact.
We have nothing to report in this regard.
Oplnlon on other matt•rs prescrlbed by the Companles Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the Trustees, Report for the financial year for which
the financial statements are prepared is consistent with the financial
statements.
the Trustees, Report has been prepared in accordance with applicable legal
requirements,
Matters on whlch we are requlred to report by exception
In the light of our knDwLedge and understanding of the charitable company and its
environment obtained in the course of the audit, we have not identified material
misstatements in the Trustees, Report.
We have nothing to report in respect of the following matters in relation to which
Companies Act 2006 requires us to report to you if, in our opinion:
the parent charitable company has not kept adequate and sufficient
accounting records, or returns adequate for our audit have not been received
from branches not visited by us. or
the parent charitable company financial statements 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 aLI the information and explanations we require for our
audit. or
17

CRYSTAL PALACE PARK TRUST
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF CRYSTAL PALACE PARK TRUST
the Trustees were not entitled to prepare the financial statements in
accordance with the small companies regime and take advantage of the smaLL
companies, exemptions in preparing the Trustees, Report and from the
requirement to prepare a Strategic Report.
Responslbllltles of trustees
As explained more fuLly in the trustees, responsibilities statement, the Trustees
(who are also the directors of the charitable company for the purposes of company
law) are responsible for the preparation of the financiaL statements and for being
satisfied that they give a true and fair view, and for such internaL control as the
Trustees determine is necessary to enable the preparation of finan¢iaL statemer)ts
that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the
Group's and the parent charitabLe company's ability to continue as a going concern,
disclosing, as appLicable, matters related to going con¢ern and using the going
concern basis of accounting unless the Trustees either intend to liquidate the Group
or the parent charitable company or to cease operations, or have no realistic
aLternative but to do so.
Audltor$' r•sponslbllltles for the audlt of tho flnan¢Sal statements
Our objectives are to obtain reasonable assurance about whether the financial
statements as a whole are free from materiaL misstatement, whether due to fraud
or error. and to issue an auditors, report that includes our opinion. Reasonable
assurance is a high level of assurance, but is not a guarantee that an audit
conducted in accordance with ISAS (UK) WILI always detect a material misstatement
when it exists. Misstatements can arlse from fraud or error and are considered
material if, individualLy or in the aggregate, they could reasonably be expected to
influence the economic decisions of users taken on the basis of these financiaL
statements.
IrreguLaritles, including fraud. are instances of non-compLiance with laws and
regulations. We design procedures in Line with our responsibilities, outlined above,
to detect material misstatements in respect of irreguLarities, including fraud. The
extent to which our procedures are capable of detecting irregularities. including
fraud is detaiLed beLow:
We gained an understanding of the legal and regulatory framework applicable to the
charity and the industry in which it operates. and considered the risk of acts by the
company that were contrary to applicable laws and regulations, including fraud. We
designed audit procedures to respond to the risk, recognising that the risk of not
detecting a material misstatement due to fraud is higher than the risk of not
detecting one resulting from error, as fraud may involve deLiberate concealment by,
for example. forgery or intentionaL misrepresentations, or through collusion.

CRYSTAL PALACE PARK TRUST
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF CRYSTAL PALACE PARK TRUST
We focused on Laws and regulations which could give rise to a material
misstatement in the financial statements. including. but not limited to, the
Companies Act 2006. Our tests incLuded agreeing the financial statement
disclosures to underlying supporting documentation and enquiries with
management. There are inherent limitations in the audit procedures described above
and, the further removed non-compliance with laws and regulations is from the
events and transactions reflected in the financial statements, the less Likely we
would become aware of it. We did not identify any key audit matters relating to
irregularities, incLuding fraud. As in all our audits, we also addressed the risk of
management override of internal controls, including testing journals and evaLuating
whether there was evidence of bias by the trustees that represented a risk of
material misstatement due to fraud.
A further description of our responsibilities for the audit of the financial statements
located
on
the
Financial
Reporting
Council's
website
at.,
www.frc.org.uklauditorsresponsibilities. This description forms part of our auditors,
report.
Uso of our report
This report is made solely to the charitable company's trustees, as a body, in
accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the
charitable company's trustees, as a body, Part 4 of the Charities (Accounts and
Reports) Regulations 2008. Our audit work has been undertaken so that we might
state to the charitable company's trustees those matters we are required to state
to them in an auditors, report and for no other purpose. To the fuLlest extent
permitted by law. we do not accept or assume responsibility to anyone other than
the charitable company and its members, as a body, for our audit work, for this
report, or for the opinions we have formed.
Andr•w Thoma8 (sonlor statutory audltor)
for and on behalf of Nyman Llb80n Paul LLP
Chartered Accountants and Statutory Auditors
124 Finchley Road
London. NW3 5JS
Date: 21 May 2026
19

CRYSTAL PALACE PARK TRUST
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND
EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 DECEMBER 2025
Note
2025
Restrlcted Unrestricted
2024
Total Unrestricted
funds
Total
funds
Income from:
Donatior)s and
legacies
Other trading
activities
Investments
Other income
Total Income
Expondlture on:
Charitable
activities
Total
•xpenditure
Net movomont
In funds
611,500
435,492 1,046,992
435,191
435,191
1,205,700 1,205,700
1,206,221 1,206,221
273,046
273.046
130,543
130,543
2,044,781 2,656,281
289,226 289,226
2,073
2,073
1,932,711 1,932,711
611,500
163.159
1,871,985 2.035,144
1,699,302 1,699,302
163.159
1,871,985 2,035,144
1,699,302 1,699,302
448.341
172,796
621,137
233,409
233,409
Reconclllatlon of funds
Total funds
bought forward
Net movement
in funds
Total funds
carried forward
1,136.960 1,136,960
903,551
903,551
448,341
172,796
621,137
233,409
233,409
448,341
1,309,756 1,758,097
1,136,960 1,136,960
The Consolidated Statement of FinanciaL Activities incLudes all gains and losses
recognised in the year.
The notes on pages 23 to 37 form part of these financial statements.
20

## **CRYSTAL PALACE PARK TRUST (Registered Charity and Company Limited by Guarantee) Company number: 11360503** 

## **CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2025** 

||**Note**|**2025**||**2024**||
|---|---|---|---|---|---|
|||**Group**|**Trust**|**Group**|**Trust**|
|||£|£|£|£|
|Fixed assets|12|208,024||228,751||
|Investments|||1||1|
|Debtors|14|230,347|1,009,286|263,713|659,523|
|Cash||1,740,403|1,003,813|1,181,924|662,691|
|Current assets||1,970,750|2,013,099|1,445,637|1,322,214|
|Creditors due in less|15|(420,677)|(255,002)|(537,428)|(185,255)|
|than one year||||||
|Net current assets||1,550,073|1,758,097|908,209|1,136,959|
|**Total assets**||**1,758,097**|**1,758,098**|**1,136,960**|**1,136,960**|
|**Funds**|16|||||
|Unrestricted funds||1,069,973|1,069,974|897,177|897,177|
|Designated funds||239,783|239,783|239,783|239,783|
|Restricted funds||448,341|448,341|||
|**Total funds**||**1,758,097**|**1,758,098**|**1,136,960**|**1,136,960**|



The Trust's net movement in funds for the year was £621,137 (2024: £233,409). 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 ۱۹ May  and signed on their behalf by: 



**----- Start of picture text -----**<br>
M Tempia<br>Co-Chair<br>**----- End of picture text -----**<br>




**----- Start of picture text -----**<br>
P Kolvin KC<br>Co-Chair<br>**----- End of picture text -----**<br>


21 



CRYSTAL PALACE PARK TRUST
CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025
2025
2024
Cash flows from operatlng actlvltl•s
Net cash used i n operati ng activities
561,216 233,064
Cash flows from Investing activities
Purchase of tangible fixed assets
(2,737) (22,067)
Net cash used In Invo8tlng actlvltles
(2.737) (22,067)
Chanke In cash and cash equlvalants In the year
558.479 210,997
Cash and cash equivalents at the beginning of the year
1,181,924 970,927
Cash and cash equSvaionts at the end of the year
The notes on pages 23 to 37 form part of these financial statements
22

CRYSTAL PALACE PARK TRUST
NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
General information
Crystal PaLace Park Trust is a private Limited Company by guarantee without
share capital use of 'Limited' exemption. The registered off ice address is GLL
College, Ledrington Road, London. England, SE19 2BB.
Accountlng pollcles
2.1 Basls of praparation of flnancial statements
The flnancial statements have been prepared in accordance with the
Charities SORP (FRS 102)
Accounting and Reporting by Charities:
statement of Recommended Practice applicable to charities preparing their
accounts in accordance with the Fi nancial Reporti ng standard appli cable i n
the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the
Financial Reporting standard appLicabLe in the UK and Republic of Ireland
(FRS 102) and the Companies Act 2006.
CrystaL Palace Park Trust meets the definition of a public benefit entity
under FRS 102. Assets and Liabilities are initially recognised at historical
cost or transaction value unless otherwise stated in the relevant accounting
poLicy.
The consolidated statement of financial activities (SOFA) and consolidated
balance sheet consolidate the financiaL statements of the Trust and its
subsidiary undertaking. The results of the subsidiary are consolidated on a
line-by-Line basis.
The Trust has taken advantage of the exemption allowed under section 408
of the Companies Act 2006 and has not presented its own statement of
f inanciaL activities in these financial statements.
2.2 GoÉng concern
The trustees have reviewed the circumstances of the charity and consider
that adequate resources are available to fund the activities of the charity
for the foreseeable future. Therefore. the trustees consider that there are
no materiaL uncertainties about the charity's ability to continue as a going
concern.
23

CRYSTAL PALACE PARK TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE Y&4R ENDED 31 DECEMBER 2025
2.3 Income
Donations are recognised once the Trust has entitlement to the income, it
is probabLe that the income WILL be received and the amount of income
receivable can be measured reLiabLy.
Grants are i ncluded in the consolidated statement of f inancial activities on
a receivable basis. The balance of income received for specific purposes
but not expended during the period is shown in the relevant funds on the
balance sheet. Where income is received in advance of entitlement of
receipt, its recognition is deferred and incLuded in creditors as deferred
income. Where entitlement occurs before income is received, the income
is accrued.
Income tax recoverabLe in relation to investment income is recognised at
the time the investment income is re¢eivabLe.
Income from events is recognised in the period in which the event takes
place.
Income from grants is recognised in Line with the grant agreement.
Rental income is recognised in line with the terms of the Lease.
Concessions income is recognised on a straight-Line basis during the
length of the agreement.
Car parking income is recognised in the period in which the parking takes
place.
2.4 Expendlture
Expenditu re is recognised once there is a legal or constructive obligation to
transfer economic benefit to a third party, it is probable that a transfer of
economic benefits will be required in settLement and the amount of the
obligation can be measured reliabLy. Expenditure is classified by activity.
The costs of each activity are made up of the totaL of direct costs and
shared costs, including support costs involved in undertaking each activity.
Direct costs attributable to a single activity are allocated directLy to that
activity.
Expenditu re on charitable activities is incu rred on directly undertaking the
activities which further the Group's objectives, as well as any associated
support costs.
24

CRYSTAL PALACE PARK TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
2.5 Tangible fixed assets and depreciation
Tangible fixed assets are capitalised and recognised when future economic
benefits are probable, and the cost or value of the asset can be measured
reliably.
Tangible fixed assets are initially recognised at cost. After recognition,
under the cost model, tangible fixed assets are measured at cost less
accumulated depreciation and any accumulated impairment losses. All
costs incurred to bring a tangible fixed asset into Its intended working
condition should be included in the measurement of cost. Depreciation is
charged so as to allocate the cost of tangible fixed assets less their residual
value over thei r esti mated usef UL Lives,
Depreciation is p rovided on the f ollowing basis,.
Capital Improvements (toilets etc) 4%
Straight Li ne
Office equipment
10%
Straight li ne
Computer equipment
200A Straight li ne
Concert bowL
Straight line
2.6 Investmonts
Investments in subsidiaries are vaLued at cost less provision for impairment.
2.7 Dèbtors
Trade and other debtors are recognised at the settlement amount after any
trade discount offered. Prepayments are valued at the amount prepaid net
of any trade discounts due.
2.8 Cash at bank and In hand
Cash at bank and in hand includes cash and short-term highLy liquid
investments with a short maturity of three months ar Less from the clate of
acq uisition or opening of the deposit or simi lar account.
2.9 Liabllltlos and provlslons
Liabilities are recognised when there is an obligation at the balance sheet
date as a result of a past event, it is probabLe that a transfer of economic
benefit WILI be required in settlement, and the amount of the settLement
can be estimated reliably.
25

CRYSTAL PALACE PARK TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2025
2.10 Financial instruments
The Group only has financial assets and financial liabiLities of a kind that
quaLify as basic financial instruments. Basic financial instruments are
initially recognised at transaction value and subsequently measured at their
settlement vaLue with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
2.11 Pension$
The Group operates a defined contribution pension scheme and the pension
charge represents the amounts payable by the Group to the fund in respect
of the year,
2.12 Fund accountlng
Ganeral funds are unrestricted funds which are available for use at the
discretion of the Trustees in furtherance of the general objectives of the
Group and which have not been designated for other purposes.
Designatad funds are unrestricted funds that have been set aside by the
Trustees for a specific purpose.
Restrlcted funds have been given to the Charity for a specific purpose to
be used in accordance with the wishes of the donor.
Income f rom donatlons, legacles and anclllary tradlng
2025
Restricted Unrestrlctgd
2024
Total
Funds
Total
Funds
Grants
Donations
Car parking
530,000
81,500
292,660
6.102
136,730
435,492
822,660
87.602
136.730
1,046,992
324.302
3.758
107,131
435,191
611,500
26

CRYSTAL PALACE PARK TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
Income f rom non-charitabie trading activities
2025
Unrestricted
2025
Total
Funds
2024
Total
Funds
Commercial events
Concessions
other
1,012.166
193,534
1,012,166
193,534
993,492
200,129
12,600
1.206.211
1,205,700 1,205,700
Investmont Income
2026
Unrostrlcted
2025
Total
Fund8
2024
Total
Funds
Lease income
272,046
273,046
289,226
Other Incomlng resourc•s
2025
Unrestrlctod
2025
Total
Funds
2024
Total
Funds
Park operations income
Royalties
130,543
130.543
2,073
2.073
130,543
130,543
Analysls of expendltura on charitable actlvltles
Summary by fund typo
Restricted Unr•stricted
Total
Funds
2025
2024
163.159
1,871,985
1,699,302
2.035,144
1.699,302
27

CRYSTAL PALACE PARK TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
Analysis of expenditurn by activities
Charitable actlvltles
Activities
undertaken
diroctly
Support
costs
Total
costs
Park maintenance an d uti lities
Events and programming
Total 2025
Total 2024
1.097,212
442,983
1.540.195
1,383,672
352,594 1,449,806
142,355
585,338
494,949 2,035,144
315,630
1.699,302
Analysls of dlr?¢t ¢ost8
2025
2024
Park maintenance
Park uti lities
Events and programming
(community)
Events (commercial)
1,151,240
(54,028)
88,421
936,236
67.000
87,409
354.562
1,540,195
293,027
1,383,672
Analysls of Support Co$t$
staff costs
Freelance and agency staff
Depreciation
Loss on disposal
ProfessionaL development and
memberships
Marketing and Communications
Accountancy and related fees
Office expenditure
Insurance
Recruitment
Legal, professional and
consultancy fees
Bad debts
190.958
51,246
11,773
11,691
5.063
150,617
11.363
7,042
15,478
60.700
65,928
13,682
5,502
51,073
46,324
40.010
27,781
10.862
19,203
11,855
494,949
2,428
315,630
28

CRYSTAL PALACE PARK TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
Support costs have been aLlocated to activities based on the level of related direct
staff costs.
Auditors. remuneration
2025
2024
Fees payabLe to the Trust's auditor
14.250
13,500
10. Staff ¢ost$
Group
2025
Group
2024
Trust
2025
Trust
2024
Wages and salaries
613,473 486,138
530,514 388,910
Social security costs
67,107
49.821
62,228
39,857
Contribution to pension schemes
22,259
18.400
20,310
14,720
702,839 554,359
613,052 443.487
The average number of persons employed by the Trust during the year was as
follows:
Group
2025
Group
2024
No.
Trust
2025
No.
Trust
2024
No.
Employees
14
10
14
10
29

CRYSTAL PALACE PARK TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
2025
2024
The number of employees in the followlng bands are as
follows:
£60.001 to £70,000
£70,001 to £80,000
£80.001 to £90,000
There are 5 (2024: 5) members of key management personnel within the
charity. During the period, they received total employee benefits of £361k (2024..
£293k).
11. Trustses, remunaration and expansos
During the year, no Trustees received any remuneration or other benefits {2024:
£niL).
30

CRYSTAL PALACE PARK TRUST
NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
12. Tangible fixed assets
Group
Fixtures
and
Office
Computer
flttlngs equlpment equipment
other
fixad
assets
Total
Cost or valuation
1 January 2025
142.434
17,745
5,243
79.025
244,447
Additions
2,737
2,737
14,315
Disposals
14,315
31 December 202S
145,171
3,430
5,243
79,025 232,869
Dopr•ciatlon
1 January 2025
5,619
1,813
2.963
5,301
15,696
Charge for the year
DisposaLs
5,789
1,774
1,049
3,161
11,773
2,624
2,624
31 December 2025
11,408
963
4,012
8.462
24,845
Nat book vaiuo
31 December 2025
133,763
2,467
1,231
70,563 208,024
31 December 2024
136,815
15.932
2.280
73,724
228,751
31

CRYSTAL PALACE PARK TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
13. Fixed asset investments
Crystal Palace Park Events Limited is a wholly owned subsidiary of the Trust.
The total taxabLe profit of the company is gifted to the Trust in line with its
Deed of Covenant.
Investment In
subsldlary
company
Trust
Cost or valuatlon
At 31 December 2024 and 2025
Net book value
At 31 December 2024 and 2025
Prlnclpal subsldlarles
The following was the only subsidiary undertaking of the Trust:
Namo
Class of HoldlnÈ
shares
Crystal Palace Park Events Limited
Ordinary
100%
The financial results of the subsidiary for the year were:
Incomo
Expenditure
Net assets
1,336,243
1.336,243
32

CRYSTAL PALACE PARK TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
14. Debtors
Group
2025
Group
2024
Trust
2025
Trust
2024
Due within one year
Trade debtors
192.121
(10,154)
212,324
93.684
36,083
Less provision for doubtful debts
Amounts owed by group
undertakings
807,272 586,584
Other debtors
8,445
870
Prepayments and accrued income
48.380
42,944
108,330
35,986
230,347 263,713 1,009,286 659,523
15. Credltors: Amountg fallln# due wlthin one year
Group
2025
Group
2024
Trust
2025
Trust
2024
Trade creditors
45.581
241,274
32.846
17,338
other taxation and social security
70.661
14,722
73,395
14.722
other creditors
10,856
31,125
3,806
20,125
AccruaLs and deferred income
293.579 250,307
144,955
420,677 537.428 255,002
133,070
185,255
33

CRYSTAL PALACE PARK TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
16. Statement of funds
Current year
Balance at
31
December
2025
Balartce at
1 January
2025
Income Expenditure
Restricted
generation project
530,000
(163.159)
366,841
Restricted
bowl
concert
81.500
81.500
Designated
Unrestricted
239.783
239,783
897,177 2,044,781
1,136,960 2,656,281
(1,871.985
2,035,144
1,069,973
Total funds
1,758,097
Prlor year
Balan¢¢ at
31
December
2024
Balance at
1 January
2024
Income
Expanditure
Unrestricted funds
903.551 1.932,711
(1,699,302)
1,136,960
Restricted funds comprise.,
Regeneration project, £366,841 this is the regeneration and restoration
project being co-delivered with the London Borough of Bromley.
Concert BOWL development. £81,500 towards the design phase of upgrades
to the Concert Bowl platform.
Designated funds relate to projects identified by the Trust as a high priority and
where they wouLd not normally fit easily into the annual timetable or spending
profile of the Trust. These funds are to support deficits in maintenance that have
built up over several decades, including preserving heritage assets. alongside
implementing key organisational priorities as the Trust grows. Due to resource
constraints none of the designated funds were spent in 2025. In quarter one of
34

CRYSTAL PALACE PARK TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
2026 we recruited a Head of Special Projects (funded from designated reserves)
to assist in planning and implementing the projects., therefore, we expect to
spend the designated reserves in 202612027.
17. Analysis of net assets between funds
Current year
Restricted
Funds
2025
Unr•stricted
funds
2025
Total
funds
2025
Tangible fixed assets
208,024
208,024
Current assets
448,341
1.518.520
1,970,750
Creditors due within one year
420,677
420,677
Total
448,341
1.309,756 1758 097
Prlor perlod
UnroStrf¢t•d
funds
2024
Total
funds
2024
Tarsgible fixed assets
228,751
228,751
Current assets
1,445,637 1,445.637
Creditors due within one year
(537,428) (537,428)
Total
1.136,960 1.136,960
35

CRYSTAL PALACE PARK TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2025
18. Recon¢lllatlon of net movement in funds to net cash flow from operatlng
actlvltl•$
Group
2025
Group
2024
Net income for the period (as per Statement of
Financial Activities)
621,137 233,409
Adjustment$ for:
Depreciation charges
Loss on disposal
Increase in debtors
Increase/(de¢rease) in ¢reditors
11.773
11,691
33,366 (18,493)
116,751)
6,785
11,363
Not ¢a$h provlded by operatlng actlvltles
561,216 233,064
19. Analysls of cash and cash equlvalènts
Group
2025
2024
Cash at bank and in hand
1,740,403 1,181,924
Total cash and cash equivalents
1,740,403 1,181,924
20. Analysis of Changes in net debt
At1
January
2025
At31
Cash Dacember
f lows
2025
Cash at bank and in hand
1,181,924 558,479 1,740,403

CRYSTAL PALACE PARK TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
21. Pension commltments
The Trust operates a defined contribution pension scheme. The assets of the
scheme are held separately from those of the group in an independently
administered fund. The pension cost charge represents contributions payable
by the Trust to the fund and amounted to £22,259 (2024: £18,400), £3.806
(2024: nil) was payable to the fund at the balance sheet date.
22. Operating lease commitments
In 2023. Crystal Palace Park Trust became custodians of Crystal Palace Park on
a 125-year lease. The freeholder, The London Borough of Bromley, granted the
lease at a peppercorn rate, which does not recognise any asset5.
23. Relatgd party transactlons
Crystal Palace Park Events Limited donated its distributabLe profits of £191,488
for the year ended 31 December 2025 (2024: £120,398) to Crystal PaLace Park
Trust in line with the Deed of Covenant. At the Balance Sheet date £807.272
(2024: £586,584) was due from CrystaL Palace Park Events Limited.
During the year dor)ations of £1,410 (2024: £1,200) were made by the Trustees
to the charity.
37