Charity registrdtion number= 1195234 AC C'I)LX I'IN(i l)l. iil()D DAT.A RP.F'RF.%H RF.QUIRF.D Seleci the Il¢tresh btstton on the SuDiii1a or Disclosure tab Central Park Hub Annual Repon and Financial Sta*ments for the Year Ended 6 April 2024
Centrgl Park Hub Content5 (continued) R¢ference and Admanistrative Details Trustee's Report Statemeiii of Trustee's ReskKpnsibilities Independent Exaniinerfs Report Ststenient of Financial Aciivitie5 Balance Shect Noies io the Financial Sthiements 7t012
Central Park Ilub Reference and Administrative Details Trustee Monuhor Ali CharitTr Registrgtion NuThber 1195734 Prillcipal Office 36 Compt(Trn Avenue Fast Ham London E6 3DR Independent Examiner BBK Acc0unw BMM Limited 4a Roman Road Easi Han) London E6 3RX Page I
Central Park Hub Trustee's Report The member presents the annual report together with the financial siatements of the chartty for the year end¢d 6 April ?0?4. Obj¢¢iie$ #Dd activities Publlc benefil The tru51ee confimi thai they have complied with rhe requirements of section 17 of the Charities Act 2011 to have due regard ¢0 the public bentfii guidance published b) the Charity Commi55ion for England and Wales. Structure govtrnan¢¢ and anagement Financial instruments Oblectives undpolicies The chai'ity's aciil'ities expose it to a number of financial risks including credii risL ¢ash flow risk and liquidity risk. The use of tinanLial derivative5 is oov¢rned b) Ihe ¢harih' s policie5 approved b). the board of trUee. which prtsvide rItten principles un the use of financial derivattves to tnanage these risks. The charity does not use derivative financial insirnmenis for speculative purposes. Cashflfjw ri¥k The charity'5 aciivities expose it PriEnarilv to the ftnanctal risks of changes in foreign currency exchange rdt¢s and interest rdtes. The charity uses forei exchange foThvard contrdcrs and interest rdte swap COT)tracts to hedge these expusures. Interest bearing assets and liabiliiies are held ai fixcd rdie w ensure cerlainty of cash flows. Credil risk The charity's principal financial assets are bank balances and cash, trade and other receivable5, and investhJ¢nts. The charitj's credit risk is primarily attribuiable to irade receivables. The amounts presented in the balance sheet aru nei of llIOanceS lor doubt1 receivables. An allowance for impakrnient is made where There is an idenÈificd loss event M'hich. based on previous e.Kperience. is evidenee of a reduction in the recoverability of the cash floN%s. The credit risk on liquid funds and derivative financial instrnments is limited because the counterparties are banks with high credit-ratings assigned b)" international credii-rating agencies. The tharit%' has no sitsnificant concentrdtion of credit risL with exposure spread over a large number of counterparties and customers. Llquidili. risk IH order io mainiain liquidity. io ensure that sufficieni funds are available for ongoing operdtions and future developtnenls. the charity uses a mÈxmre of lonu_tern] and short-iemi debt finance. Further dLtails rding liquidity risk can be found the Swement of accouniing policies in the financia] statements. The annual report was approved by the member of the charity on and sign¢d on its behalf by: Monuli TrusteL
Centrnl Park Ilub Statement of Trustee's Responsibilities The trustee is responsible for preparing the tnlee'S retM)rt and the finaneial statements in accordance with th¢ United Kingdom Accountino Standards iiinited Kin?dom GenerallN' Accepted Accounting Practice) and applicable law and retsulations. The laii applicable to chariti¢s tequiies ihe misiee 10 p¥epare financial sthternents for each finaRcial year which give a ti'iie and lair view of the state of affairs ot ihe ohii rifj. and of the in¢oming resource5 and application of resources of the charity. for that period. In preparing these financial ststrmenw the member is r¢quired to: seleci suitable accounting policies and then apply them consistrntly. observe the methods and principles in the Charilies SORP- Mdke.1dgernen1S and estiTnaies that are reasonable and pwdent- si&te i%.hether applicable accountin? standards have been followed. subject to any material departures disclosed and L.xplain¢d the financial stsieinents. and prepare fhe financial statements on ihe goin(p con¢¢rn basis unles5 It is inappropriaie to presume that the chariti will Continue in business. The member is responsible for keeping proper accountin¢* rteords that disclose with reasonable accuracy at any time the tinanctal posiiion of tht chariii. and enable thern 10 ensure thai ihe financial staiements comply with the Charities Act ?011. the Chari(it5 IAccouns and Repons) Regvlaiions ?008. and the provisions of the constitutivn. The member is alsu responsible for sal-e¥uarding the assers of the charity and hence for taking reasonable Steps for the preveniion and deiection of fraud and other itTegularities. The trll%iLe is responsible for the maintenance and integrity of the corporate and fitwi¢ial informauon included on the charitable eompanv's webslte. Legislaiion tsoverning the preparation and dissemination of finall81 stamell[5 mav differ from legislation in other jurisdi¢iions. Approved by the member of the charitv on .... Monuhor Ali Trusiee Page 3
Central Park Hub Independent Examiner's Report to the truste¢ of Central Park Hub I report to the ffttsie¢ on my examination of the accouRt5 of Cenrrdl Park Hub for the year ended 6 April 2024. Re5ponsthilitie$ and basis of report As the LharIty tru51ee of Central Park Hub ar¢ responsible for ihe preparation of the accounts in ateordance with the requirements ot-the Cliariiie5 Aci ?01 I i-lhe ALt'I. I rep)n in respect of my examtnaiion of the Central Park Hub's accounts carried out under section 145 of the 201 l Acr and in carying out mw examination I have followed all the applicable Directions given by the Charity Commission under se¢lion 145(5Xbl of the Aa. Independent examiner's Stslement I have completed m) examination. I confirn] thai no material matters have come to my attention in conn¢ction with rhe exaTnination gi)nO me ¢au5e io believe that in any material respect.. accouTttin£ records were noi Lepi in resped of Cen1 Park Hub as required by section 130 of the Act,. or 2. the accoun15 do noi accord with thos¢ records: or 3. the accounis do not complN wilh the accounttng requirements concerning the forni and content of ac¢ounts set out in the Charitie5 (Accounts and Reportsi Regulations 2008 other than any requirement that th¢ accounts give a 'trne and fair view which is not a matter considered &s part of an independ¢nt examinaiion. I have no concerns and have com¢ across no other matters iii connection with the examination to which atteniion should bt drdwn in (his repon in order io enable a proper understanding of the accounts to be reached. BBK ALcountants BMM Limited ACCA 4a Rotnan Road East Flai London E6 3RX Date.. Page 4
Central Park Hub Statemellt of Tr inaneial ActiTrities for the Year Lnded 6 April 2024 Unrestrieted funds Tot21 2Q24 Note Jneonie Endowmeijts from: Donatioii% and leuc1CTes 30.767 30,767 Toial income 30.767 30.767 Expenditure on: Charitabl¢ acti*iti¢s (11,103) {11,103 Toial expendithie {11,103) 11,103) Net income 19,664 19.664 Nei movemeE]l in fund5 19.664 19,664 Reconciliation of funds Toral tiinds brought forward 26.328 26.328 Total fut>d5 carried forward 45,992 All ol'the charil) 5 aetivitl¢s derive from coniinuinu op¢rations during the abovc periiKI. The noies on paues 7 to l ? foTh an inieordl part of these financial ststetnents.
Central Park Hub (Registration number: 1195234) Balance Sheet as at 6 April 2024 2024 Note Current dsset5 CLsh ai bank. and in hand 45,992 Funds of the eharitv.. Unresiricted in¢ome funds Unresiri¢t¢d funds 45,992 Total funds 45,9 The tinancial statements ou pages 5 to 12 were approved by the . authori5ed for issue on .- .. . signed on hi5 behalf by.. Monii TrustLL Ali The noies on pages 7 10 12 form an inie?rnl part of these financial sLiiements.
Central Park Hub Notes to the Financial Statemenls for the Year Ended 6 April 2024 l Aeeounting policÉes Stateent of eompliance The finclllC121 sthtements have been prtpared Èn accordance ii'iih the second edition of the Charities Statement of Recommended Practice issued in October ?019. the Financial Reporting Stsndard applicable in the United Kingdom and Republic of Ireland IFRS 10?) and the Chariiies Act 2011. Basis ol prtparation Central Park Hub meets ihe detinition of a publie benefit entlty under FRS 102. The accounts Ifinancial statenieiitsi have been prepared under ihe historical cosi convention with items Ttcggnised at cost or transaction value unless oth¢rwise siaied in the relevant notels) lo ihese accounts. Going concern The Irusiee consider that there are no mateTial uncertatnties al)out the charitys ability to conlinue a going concem. Income and endowments VoluntaTr income includints donaiions, gifts. legacies and grdnts that provide core funding or atr of a genetzl natUTe is recognised when the charit%. has eniitlemeiii to the income. it ts probable tha( the income will be received and ihe ainollnt can be nieasured 1th sufficieni reliability- Donuliv115 and ItRuci Donations and leildcies are recogni5ed on a receivable basis when receipt is probable and the amount can be reliably rne&sured. Expenditure All exp¢nditure is r¢cognised once there is a legal or constructive obligation to that expenditure. it 15 probable settlement is required and the amount can be measured reliably. All costs are allocated 10 th¢ applicable expenditure heading that awegare sirnilar costs to thai category. Where costs cannot be directly attributed lo particular headinJ£J the), have been allocaied on a basis consist¢nt with the use of resources. with ¢entral staff costs allo¢aied on the basts of lime spent. and depre¢iaiion charges allocat¢d on the portion of the asset's se. Oiher support costs are allocated based on the spread of staff costs. Governance eosts These inelude the eosts attrTbutable 10 th¢ charity's cotnpliance with constjlU(ional and statutory requirements, including audit. 51rate£ic manaiFemeni and itustee meetin¥ and reimbursed ¢xpensCS. Taxaiion The ehaTity' is cotksidered to pass the iesis Set Qui in PardoJaph I Schedule 6 of th¢ Finance Ari 2010 and therefore li meet% the definitÈon of a charitable compan}. for UK corporation tax Purposes. Accordingly. the charity is poientiallv e.xetnpt from ia¥ation in res¢( of income or capital gains received within categories coyered by Chapier i Part I l of the Corporation TLX Act ?01 O or Section ?56 of the TatIon of Chargeable Gains Att 1992. ro the extent that such income or gains are applied exclusivel), io charitable purpos¢5.
Central Park Hub Notes to the Tr inantial Statements for Ihe Year Ended 6 April 2024 (Continued) C4$h cash equiyalents Cash and cash equivaleiits comprise ch on hand and tall deFosits. and othcr shon-tern) highly liquÈd investment5 that are readily convertible io a knoivn amount of cash and are subject to 011 I115ignificani risk of chan£e in value. Borrowings Interesi-bearing borrowings are iniiiallN recorded at fair value. ne( of tr8nsa¢tion costs. Jnterest-being boTh0Win are 5ub5equeiitl% carried ai arnortised cosu '¢th the difference betm'een the proceeds. net of tranvdction costs. and ihe amount due on redempiion being reco8nÈsed as a charge to the Statern¢nt of Financial Actil'ities over the period of the relevani bom>wing. Interest expense is iecogDised on the basis Ipf ille ¢ffective interest meihod and is included in interest payable and similar ¢har¥es. Borrowin¥tt are classified as curreni liabilities unless the charity ha$ an unconditional rit to defer settlement of the liability for at least iivelve months after the rew)fting date. Fund 51ructure Unrestricted income funds are general funds that are available for use at the trustee discretion in fUrth¢ran of the objectives of the chariiy. Financi21 instruments clarIcalln Financial assets and financial liabilities are recognised when the charity becomes a paty to the contraetu41 provisions of the instrument. Financial liabilities and equÈiJ' instrum¢nts are classified according to the substance of the contractual arrangements ented into. tquity" instrument is any ¢ontra¢i that evidences a re5idyal interest in th¢ assets of the Charity. after deducting all of its liabilities. Recogiiilion aiidmeosurenieni All financial assets and liabilities are initially measured at ITn1Cl10n price (including tt7nsaetion ¢ostsk except for those financial assets classified as at fair valu¢ throu] profit or105s. wliich are initially meosured at fair value (which is nomally the trartsaction price excluding Iraiisaciion costs). unless the arrangement ¢on5titutes a financing trdnsaction. If an arrdngemenl constlluies a financing Irdn5aclion. the financial assei or financial liability is measured the present value of the future payments discounted at a markei rate of interest ftir a similar debt instTurnenl. Financial assets and liabilities are onl}" offset in the sfat¢Jnent of financial position wl?en. and only when there exists a legally enforccable right ro sei off the recotini5ed amounts and the charity intends either to settle on a n¢t basi5. or io reali% the assei and settle ihe liability Sitnuliaiicou5ty. Financi?L l 95s¢ts are der¢¢ogni5¢d ivhen and only ii.hen a) Ilie contractual rights to the cash flow5 from the financial assct cxpirc or are senlcd. bl the charitv rrnnsfers 10 another parts( substantially all of the risks and remards of ownership of the financi81 &8set. or c) the charity, despite having retsined some. bui not all, significant risks and reivards of owiership, has transferred control of the asset to another party. Financial liabilities are derecogni5ed only when the obligation specified in the contract is discharged, cancelled or expires. Page 8
Central Park Hub Notes to the Financial Statements for the Year Ended 6 April 2024 (Continued) Debi Insirnments Debt instruments which mtti the following conditions are subsequently rn&Ured at amorti5ed cost using the effective inIerest m¢thod- (a) The contractual return to ihe holder is {i) a fixed arnouni- (ill a positive fixed rate or a p)sitive variable rnte- or liiil a combination of a w)sitiv¢ or a negative fixed rail ajid a positive variable rate. (b) The contract may provide lor repaj'ments of the principal or the reDJm to the holder (but not both) to be linked to 3 single relevant observable index of oenerdl price inflation of the ¢llrrency in which the d¢bt instrument 15 denomtnated, provrded such links are i)01 lei'if&liT' (c) The Contrdct Tnay provide for a deterniinable variation of th¢ rethrn to the holder during the life of the instrnrncnt. provided ihai (i) the ne. rdte satisfies condition (al alid the variation is not contingeni on futur¢ evenis other tlian I l ) a change of a contrdCfU21 variabl¢ riil¢.' l_l io protect the holder against cr¢dii detertot2tion of ihe issuer: (3) ChageS in levies applied bv a ¢eniral bank or arising from changes in relevant t&xation or law. or lil) the neiv rate is a market rate of int¢resr and satisfies condition la). (d} TIILre is no coiiiractual provisi(Jn that could, by Ils Li'..1*. fisult in the holder losing the principal amount or any inieresi aiiribuiable io the CUTreni period or prior p¢ris_ (e) Conrraciual provisions that permii the issuer io Prep1. a tlebt instNmenÉ or pettnit the h(Trlder to put it back to the issuer befiir¥ iiiaturity are not contingent on fuluri ¥ ¥. 01.Icr than to pro¢Lci (he holder against th¢ ¢redit deierioratson of t]1¢ issuer or a chcintse in control of the i... '.I'r. or io protect the holder or issuer against changes in levies applltd by a ceniral bank or arisin(¥ froni changL> ."Ii r<'i'LI'ani tsxation or law. ID Ciiiitraclual provisioiis ma%, pertnit ihe eNtcn5ion of illi ,'I"'Ii lif the debt instrunienL provided ihai the retum to tl)e Iiolder (ind any other contrdclual provisioi)s api?lictil .e during th¢ ¢xtended terni satisfy the conditions of paragraphs (al to (c}. Dcbt iJistruiiiLiils Iliat classified as payable or reci'll-' meet the above coiidilions are measured at t]ie undiscL)U'.: to bL paid or receii'ed, nei of impairnient. L. %1":'.IiiJi oiie )'ear oji it]ilial r¢cogDition and which JIILI'iini of the cash or other consid¢rntion expected Willi Ilie exceplii)&i of some hed7n¥ Instrutnen otli,'r me%ibured at f&iif %'4ilu¢ throu¥h profit or loss. .1 iiisiruments not meeting these conditions are Commitinertts to make and receive loans whicli meet Ilie conditions mentioned above are measured at cost {Hlii¢h lli<1) Ib.. iiill lis5 jIMpaim?eni. InY¢5tments in non-convertible preference shares and non-iiiiiiable ordinary or preference shares (where shwrs are publiclv traded or iheir fair vallle is reliabl). Ineasur4LL. .' J 4ir¢ Iiieasured at fair value (hrollgh profit or loss. W'li¢re fair value be measuted reliably. iTrvesiiiiiJli_. ..I'e measured at cosi less impairnienL Ini'estinents iii slllisidi2rie5 and associates are nieasurii. Lil%i l¢ss ijnpaimieni. For Énvestments in subsidipries ac4uired for iKJlls,deration including the issue of Si141:" for rnereT relief, cost is rneasuTed by reference io tlie Iioininal value of the shares issued p&i. 4tsir i Jlue of other con5iderntion. Any preinium is igi)uied.
CL'lltr:Il P. Notes to the Financial Statements for tli . c':1 r Ended 6 April 2024 (eontinued) Derivalivefiitnnclal In51rumeJits The charity uses dcrivative financial insrrnments to red,.; movements. The thi rity does noi hold or i55u= dL"rii'": L.xpo%ure to foreign exchange risk and interest rate -.Inc',' '.iislriLnients for speculative purposes. Derivativcs are initially recogni5ed at fair value ai th Icile derivative contrdct ts enrered into and are subsequently remeasured to th¢ir fair value at each rei l-lie resulting gain or 1055 is wognised in statenient of financial activilies immediaiely unless ill. -'rii'.Ii Ive is designated and effective as a hedging in51rutneni. which eveni ihe timing of ihe recognilii*i) iii sthtement of financial activities depends on the nature of the hedÉJtr relationship. Fiiir vtsliie iiiL'iiYiiremeiil The besi evidence of frdir value 15 a quoted price for an i,: Iiical Jsser in an active market. When quoted prices are iinavailable. the price of a reccni irnnsaciion for an -.sei provides evideiice of fair value as long as there has not been a significani change in econottLiC .ies or a significilllt lapse of time since the traiisaction look place. If the tnarket is not aaive and '&)clions of an idenii¢al asset on their own are not a uood e5timlL ie of fair Vlc lue. the fair value is ¢5tiliWl¥J b). Usiiig a valuation te£hniqu¢. 2 liieome fruiii doNatlOlls And legg¢ies Uiiresii-icled fui.Js Total funds Donaiion5 and legacies- Doiiaiion8 fT(Im individuals 30.767 30.767 Tot:Il for 2074 30.767 30.767 3 F".ipenditurc ibn eharilable actii'ities Unrestricted funds Gcner£il Total funds Ille Governaur¢ ¢05ts 1,103 Pd"L Ilj
Ceniriil '.) Notes to the Financial Statements for Ih . I'c. r l.-nded 6 April 2U24 {eontinued) Total expenditure 4 Analysis ofgoverDall¢e and support eosts Governance e051s Unre51ricled Totsl funds Ceiitral Legal fee5 Other governance costs 576 10.527 576 10.527 Total for 2024 11,103 5 Net Incomingloutgoing resources Net llicoTriin&i'ouibioino resouTces for the year iiiclude..
Central I'.ii'k Illib Notes to the Finall¢ial Statements for tIiL. I'L".1 I. l.-nded 6 April 2024 {continued) 2024 6 Trustee remuner#tioM and expenses 7 Taxatio Th¢ charity is a registered charÉty and is therefore exempi from iil.iaiion. 8 C*sh cash eoiiii'31ents 2024 Cash ut bank 45,992 9 Fund$ Balance at 7 April 2023 Resources exp¢iided BalaDee at O April 2024 re£ipiirces Unreitriel¢d funds Genei'al 45,992 10 Anal)'515 ofllet assets betiveeD funds I I RLliited part). transactions
Centrnl l)41 I"k I I ill Statement of Financial Activitie5 bi. fiiiiil flir ihe Year Ended 6 April 2024 Total Unrestrieted Funds 2024 Intonie F.ndowments from: Donaiions and legacies Total income 30,767 30.767 Expenditure on: Charitable activities (11.103) Totsl expenditure (11.103) Net illcome 19,664 Nel movement in funds 19,664 Reeoncili4?tion or runds Tovdl luiids bKouul)t forward ?6.328 Total luiids cai'i'ied fotward 45,992 This page does not forni part of Ilie %i.Iilltorv financial statements.
Central Park I liib Detailed Statement of Fingncial Actii'itie5 for the Year Ended 6 April 2024 Total 2024 Incorsie and Endowments from- Donation5 and1a¢l¢S (aJ)alysed below) Total Incorne 30.767 30.767 Expeiiditure on: Charitable a¢iiviries (analysed below) Total ¢xpendinllE (11.103 111,103 Net incorne 19,664 Net ninvL'lni'ni in funds 19.664 Re¢niirili14 tion of funds Totsl I11d$ biouylt forwatd Total lunds C¢irried forward 6,328 45,91 This page does not fomi part of IliL siaiiiiorv financial stAt¢n)¢Nts. 14
Central l'ark Ilub Dcl:iiled Statement of Financial Actii'itie5 lor the YL'ar Ended 6 April 2024 (eontlDued) Total 2024 l)onÉiliiiii.¥ iiiiil legnci Appe.'Ils and donitions 30.767 30,767 Chrtrlluble ficliviTlies ExhibitjQllS Siaff Irainin¥ Relit (1,017) 1575) (5.440) {162) {195) Repa'.rs and mic 2nienance Equiriment r¢pairs and renewals Telei)iione aiid Priniiiii. i)ostaL?e and staiionery (185) (764) (486) (60) 1525) (240) 1336 TravL' L¢¥Jl :IllLI pri) ILS4ivnal fee5 This page does not forni part of Ilie silluiorv flnancial st&¢ments. PaLL 15