Clwity regi¥tratson nwnber. 1195234 Central Park Hub for the Y¢orEndtd 6 A1 2(Y25
Central Ptht Hub Contents (eonthiued) Ststement of Tnth¥ ilities Indedent Ex8minerfs Re Statetnent of Fmancial Aetivittes Notes to the Financial Statetnen¢S 7t012
Central Park Hub Reference and AdmlDlstrAtive Details Trustee Monuhor Ali Charlty Regl$trtloD Number 1193234 Prln¢lpl Offl¢• 36 Compton Avenue East Ham Lonth)n E6 3DR Independent Examlner BBK A¢¢ountants BMM Limited 4a Romgn Ro8d East Hom London E6 3RX Pag¢ I
Central PArk Hub Tn(¢¢,¥ Report The member presents the annual JHX¥t togthwith the financial statements of the dwity for th¢ year ended 6 April 2025. ObJeetlvu And •etlvltles The trustee confirni that they have complied with the requirements of section 17 of the Charities Act2011 to hav¢ due yed to the public benefit 8uidance published by the rity Comrniuion for England and Wales. stnEer¢> governaDee and MI1¢0¢ ObJe¢dw 4ndpoHel¢s The charity's a¢tivities expose It to 8 nwnber of tlnancial risks in¢ludin8 credit iisK cash flow risk and liquldity rlsk. The use of fln8n¢iil deny1Ve$ is govem¢d by the charity'$ wlici¢s opproved by th¢ I)Ird of ttu$. which provide wriiten principles on th¢ use of fuwicial dwiliveS to rnrye thes¢ risk& The tharity do¥ not u derivative fman¢ial instruments forspe¢ukn¢iv¢ pupjse Coshfvw rlsk The charity'$ activities expose it primarily tothe fuwicial risks of ¢han8es in forei8n eurrency exchange rntes and interest rates. The charity uses forei8n exchan8e fonv¥rd ¢Crfbkn¢ts and interest rate swap contracts to h*e these exposures. Interest beArin8 asxts and lilIk1¢S are held at fixed rth to a¥ure ¢utiiNy of ¢ash tlows. Credlirtsk The ¢harlty's prlncipal fmancial assets are bk bnlancu and cash. tr4de other receivables. and Invesknents. The Charity's Credii risk is primarily afflribut¥bl¢ to its receivjbles. Th¢ omowlts presenied in the bilan she¢1 are of allowan¢¢s for doubthl receivable& An allowance fly impairnient is mad¢ where ther¢ ts an Ideniified loss event whi¢K bAsed on previous ¢xpttien4 is evidenc¢ of 8 r10n in the r¢Ver&bility of the Cash flows. The crthlit rlsk on liquid fithds and derivative finm¢R81 instrurnents is limited because the counterpartiej banks with high credlt-ratings assigned by international ¢rtdit-rntin8 agencies. Th¢ rharity has no signifi¢ani CCentratIon of credit risK with expoJur¢ spreMI over a larg¢ numb¢r of ¢ountsrpffiie8 and ¢u8tom¢r& Lliuldlty rtsk In order w mainthin liquidity lo ¢nsure that sufficieni fiuKb are available for ongoing op¢ratioN and futsue development& the charity uses a mixtitye of long-¢¢rn] and short-term debt finance. Further dethils regarding liquidity risk C be found in the Stsiement of Kcouriw policies in the fU1¢ial $14tements. Monuhor Ali RUNI ALI Page 2
Central Park Hub ststement of Tnut¢e's Responsibilities The tnjstee is responsiTrJle ftjr preparing the trustee's report the fi)¢1&1 statem¢nts in accordance with the United Kingdom A¢¢Lxmting Standarts (Unid KIngdll Generalty Ac• A¢Unting Practice) and applicable law and re8uknions. The law applicable to ¢lwities requires the to PTep&¢ f¢181 statements for ¢th fman¢ia] ye•r which give a true and fair view of the state of affai of the ¢harity and of the incoming resorn application or resources of th¢ ehority for that In preparing these fllwicial statements. the member is requir¢d to: selectsuitsbk xcounting policies and then apply them consithtty: ' observe the metho(ts and win¢iples in the Charities SORP. stste whetherapplicable acc(#Jrtiingst¥ndardsh4v¢been followryl subjt¢ttoany Mala1 deparnwdl}0$ed and explained in the financial srat&nents' and th¢ financial swements on the goingc4)ncem is1suDiS it is IwprntcPlesDe thatthe ¢hlty will Continue in iwsiness. The member is r&sponsible for keeping proper r£countiDg records that dilose with reawnable accuracy at any time the fjnancial posAtion of th¢ ¢lwity and ¢nabl¢ them to llre that the financial 5tstements comply with the Charities Act 2011. the Chariiies (A¢¢ounts and Rep$) liegy18tions 21)08. and the provisions ofthe Conltion. The member is also rwnslI¢ for safeguarding the assets of the and hence f taking reasonabl¢ steps forthe pffevention and det¢¢tion of fiaud and other iTr¢gukn. The tnlee is responsiille for the maintenance and intwity of the e(xp(ffa md financial information includgl on the tharitable company's websiie. Legislation governrg the prep•ion and diss¢mination of financia] statements may difftr from legislation ID otheriurisdictioA Monuhor Ali LLI trTrJ /lU Page 3
Ceotrnl Park Hub Independent Examillerfs Report to the trnstse of Central Park Hub I rep(¥t to the trustee on my examination of the a¢¢ounts OfcMtr Park Hub ftr the yearended 6 April 2024. RespoDsibilitks and basis of rq)ort As the chaTity trustee of Central Park Hub you are resFthtsible for the [ryarnti of the wvnts in a¢¢ordance with the ffeqllitements of the Chariti¥ Aet 2011 ('the Act,). I report in respe¢t of my examination of the cents Pat Huvs 4¢counts ¢arried out under section 145 ofthe2011 Act atjd in carrying out my examination I have follo1 all the appli(able DirectiOW 8iven by the Charity Commission under section 145(5Xb) of the ACL IndepeDdeDt eLgmlner's ststement I have completed my eMmination. l ¢cth that no material n#3 have ¢ome to my atttion in c4)nnection with the examination giving me cause to believe that in any l. accouthg records were not kept ID resFttt of Central Patk Hub as Iwtsired by section 130 of the A¢ or 3. the 8¢counts do not comply with the a¢¢ounting rniuinents ¢on¢erning the forni and ¢tent of acr set out in the Charities (Accotsnts and Repts) Regulations 2(X18 oth# than any requirement that the accounts give a'true and fair view which is not a nC(lS]deled &$ pgrt of an independent examination. I have no Conce and have come a¢ross no othermatters in c(xu¢tiOn with the exam1[110Tr to wbicb attention should be drawn ift this repxt in oth to enable a propuuDderinS of the accounts to be re BBK A¢¢£wKants BMM LimitAI ACCA 4a Roman Road East Ham London E6 3RX 'q.
Central Park Hub Statement of Financi21 Activit for the Year Ended 6 April 2025 Totsl 2025 fuDds Notr IncoJDe aud EDdowJDents from: Donations and Iwies Tots] income Expendlthre on: Charitable activities li Totsl exwditure 97 Ne¢ income Net movement in fillmts 23.875 23.875 R¢¢oneil&•tloD of Tthl funds brought fmv8rd All of the ¢haTity'$ activities deTiVe from ¢ontinuin8 opernll dumg the p0 The notes (A wes 7 to 12 forni an Integr of these finCIal statements.
Central Park Hub IRe8istr4tion number 1195234) Balance Sheet 4$ at 6 Apiil 2025 Current •ssels 69 Fund8 ofthe tharky: unrestr[rt illcome funds 69 Totsl funds The finan¢i81 statements on 5 to 12 were approv*l by the . aDd autlKYised for i¥ue on ......-...-.....- and signe4J on his behatf by: Monuhor Ali notes cm pages 7 to 12 an Integr w of these financial statement&
Central Park Hub Notes to the Financial Statements for the Year Ended 6 April 2025 l A¢¢ountlng poll¢le4 StAtemenl of eompllanee The thoncial styments have been prewed in Ndall with the second edition of the Charities Statement of R¢commend¢d PT¥ti¢¢ in Ortober 2019. th¢ Fill¢101 Repting Standard applicable ift the United Kingdom and Republic of Ireland (FRS 102) and the CIMrities Act 2011. Basss of prepartlon Central Park Hub meets the definiiion of a publi¢ ba)¢fit ¢ntity under FRS 102. The accourts (fllwi¢ial Slatements) have been prepared under the hiwical cost C4J)vetstion with items recognised at cos¢ c¢ transa¢tion value Unl otherwis¢ stated ID the relevant nrfs) to these xcoun Going ¢on¢¢rn The trustee consider that thue ore no mawial un¢ertaits aixwt the ability to continue as a 80in8 concern. Ineome •nd ¢ndoww¢nts Voluntary income including donation4 gim legacies and grants that wovith core fimding ty ar¢ of a s¢7 t)atyr¢ is recolS¢d when th¢ ¢h4rity hos enti¢¢1 to the in¢om< it is PTobabk thatthe income will bereceived ond the amount ¢an be meosured with sufficieni 111]. DonArfons andlegaeies Donation$ and legacies are mwised on a etiv)Ie bLI wbell rewt is probable and the amournt be reliabty measure(L Expenditure All expenditure is re¢o8nised once there is a legal or Constructive obligation to that expenditsw< it is probable settkmeni is required and the amount can be measurwl reliably. All costs are allocated to th¢ appli¢able expenditure heading that aEgregate simi]ar costs to that ¢ats20ry. Whete costs c4nnot be dire¢iiy attributed to particular headingsthey have been allocated on abaSislStentWlththe use of rewur¢ffj with ¢entsal staffcosts 8ilo¢ated on the basis of time spen( and depreciation djarges allocated on the portion of the asset's Use. Other support costs are allLKated bHsed on the of #aff costs. Govern•nee tosts These include the costs attnlxrtabie to the thrity's compJiaDce with and sthtutory requlremertl TaxtloD The charity is nsIderedt0 pass thests se¢ out in P8ra8raph I S¢hthle 6 ofthe Finance Act 2010 and therefore it meets the definiiion of a Charitsble company for UK u)ryrfJrntiffi tsx purpow. Accordingly. the clwity is potentially ex¢mpt from t2xation in Tesr¢¢t of in¢ome or ¢wital gains Te1ved within categories covered by Chaptrr 3 Part I l of the Corpora¢ion Tax Arf 2010 or Section 256 of the Taxation of Char8eable Gains Act 1991 to the eXt that sudj in¢i*ne or yins ave 4)p11 ¢x¢lu$ity to tharitsble purpo
CentrAI Prk Hub Notes ¢0 the Financial Ststements for the Year Ended 6 April 2025 (continued) Cg$h #od ¢qufvalents Cash and wh equivalents comprise cash on haDd and ca]1 ond othershort-tamhighty liquidinvbeftts that are Teadily c4JnvertsThle to a known amount of c¥b are subie¢t to an insignificant risk of change in valu4 Borrowln )rrowings¥r¢ subs¢quenily¢atried at amortised ccrt withthe differencettween th¢ prted$ netof transaction costs. and the a01 due on redemNion being re¢o8nised as a charge to the Statement of FiJwKiai Activities overthe riod of the Yelevant borrowing. Intet¢5t expense is recognised on the basis ofthe effective inte¢ methodand is iDcluded in int#estpayable and simi]4r charges. Borrowings are ¢latsified as ojrrent liabilities unless the iknity h•s Mn¢ondititinal right to defer setti@n¢ of the liability forat least thlv¢ months after the reF¥Kling date. Fnd strnetsre the objectives of the ¢h8rity. Flnanelal Ingtrnments Classlflcarfon Financial assets and financial liabilities are reeo8Dtsed whw the ¢harity bttornes a party to the ctraCtual provisions of the instrumenL Fin8n¢ial liabilities and equity instnllneDts are cIa55ified according to the substhD¢¢ of the cOntrtll orrangements trred into. An equity instrument is any ¢onftxt that eviden¢¢s a resiththl interest in the ass of the charity after dethJ¢ting all of its liabilitie Recognliion OndmauurÉn All financial assets and liabilities are initially measured At frartsX price (including trjrtsaction costs), except for those fmancial L8sets Classifi as at fairvalue through pmfit or loss. whicb are initially measuredat fairvalue (whieh is nornially the transaction price excluding transaction costs). unless the angement constttutes f1nan¢ingtrantiOn. Ifan arrangementcrykstitutes a financingtran¢ti0ti.the financial asset orfinancial liabiliry is measured at the present value of the fithwe Fweots disciMmd * a market rate of iDtu¢st f(Y a similar debt Financial assets and liabilities are mly offset iti the strthnertt of finaKial position when. and only when there exists a legally enforceable right io set off the r¢¢ogniYd amounts and the charity intends either to s¢ttl¢ on a net basi4 orto realise the asset and setd¢ the liability Financial assets aTethTwisedwhen andonly wheD a) thecontracwal rights tothe¢ash flowsfmm the fmancial asset expire or are Settle b) the charity transfus to another paty SubSlia1 all of the risks and rewards of ownetthip of the fitwicial assel or c) the charity. despite having retsined some. iwt not all, significant risks and rewards of Ownershi has transferred ¢ontrol of the to onotheTPty. Financial liabiliti¢s ale dere¢ognised only when the obliWioD 4JecifRd in the ¢onts¥¢t is dischar84 cancelled or expires.
Central Park Hub Notes to tbe Financial Statements for the Year Ended 6 April 2025 (eontiDued) Debt instruments which meet the following conditions $ubsequently measured at amortised cost using the effective tereSt methTra: (#) The contr&lual r¢turn to the holder is (i) a fixed amowii: (li) a positive fLxed rdte or a positive variable rate; or (iii) a combination of a positive or o negative f¢d rate 8nd a positive variable rate. (b) The contract may provide for repayments of the principal orthe retyrn to the holder Ibut notboth) to be linked to a single relevant observable index of general price inflation of the currency it) whxch the debt inslnunent is denomlnat& PTovided such links are not leverngeiL (c) The ¢ontrn¢t may pmvide for a deterniinable variatiott of the rethmi to the holder duTing the life of the instrumenL provided that(i)the new rate satisfies condition (a) and the variion is notcontiDgenton future ¢vents other than (l) a change of a contracthal voriable rate. (2) to prote¢t the holder against credit deterioration of the issuer. (3) changes in levies applied by a Centr bank or arising from clwiges in TrIevt laxation or law: or (li) the new rate is 8 market rnte of inres¢ and l$fieS ¢onditicffl (a). (d) Ther¢ is no contractual provisicl that could. by its terni4 result in the holder Josing th¢ principal amount or any interest attributable to the current peri or prior F¥erioth. (e) Contra¢tual provisions that perniit the issuer to prepay a debt in$ttvmenl or pemlit the holder to put it back to the issuer before maturity are not contingent on fijture events, other than to protect the holder against the credit deterioration of the issuer or a ctw)ge in ¢ontrol of the issuer. or to protect the holder or Issuer against changes in l¢vi¢8 applied by a centrnl bank or arising from Changes in relevant t8Xation or law. (O Contractual provisions may perniit the extension of the tem of the debt instnllnen( Provided that the return to the holder and any other ¢ontr8¢tual provisions applicable during the extended terni satisfy the condition$ of paragraphs (a) to (c). Debt instruments that are classified os payable or receivable within oneyearon initial re¢ognition and which meet the above conditions are measured at the undiscounted amount of the ¢ash or other considerntion expected to be paid or receive4 net of impainnent With the exception of some hedging Instrumen other debt instruments not meeting these conditions a measured at fair value through profit or lo Commitments to make and receive loans which me¢tthe condilions mentioned above aR measured at cost (which may be nil) less impaim)enL Investtnents in non-convertbt le preference shares and non-puttable ordin3ry or preference shares (where shares are publicly traded or their fair valuo 1$ reliably measurable) Bre m¢&sured ai fair value througb profit or Ios5. Where fair value cannot be measured reliably? investments are tneasured a¢ ¢ost less imparment. Inve$trntnts irt sub5idiar&es attd associates are measured at cost1¢s5 impairment. For inv¢stments in yJbsidi8ries acquir¢d forconsideTrtion includingthe issue of share5 qualifying for merger r¢li¢f. Cost is mwured by refer¢n¢e to the nominal value of the share5 i55ued plus fair value of oth¢r wnsideration. Any premium is ignored. Page 9
Central Park Hub Notes to the Flnv4n¢iAI Strdtements for tbe YeAr Ended 6 April 2025 (conlinu¢d) D¢rlvodveJlnfjncl4llfvMrnnwits The charity uses derivative fmancial instruments to redu exposure to for¢ign exchange risk and Interest rate movements. The tharity does not hold or issue derlvative financial instruments for spe¢ulative purpos Derivatives ar¢ initially recogniged at fair value at the date a derivative contract is eniered Into and are subsequently remeBsured ¢0 their fair value at each reporting date. The resulting galn or loss is recognised fn statement of financial activitles immediately unles$ the derivative is designated and efftIVe as a hed8in8 Instrum¢n( in which event the tlming of the rtCO8nition in statement of fjnancial a¢tivltie8 depends on the natu of the hedge relationship. Falr valAemefjsuremenl The best evidence of fair value is a qU¢d pri¢¢ for aft identi¢al asset In an Ktlve markeL Wh¢n quoted prlcej are unavailabl¢. the price of a recent transaction for an identi1 asset provldes evldence of fair value as lon8 85 there has not been 4 si8nifi¢onl ¢honge in economic ciwumstances or a si8nlfi¢mi Iwe of time Since the transactioii took pl4¢e. If the market is not active and recent transactlong of an identi] a$t on their own are not a g( estimate of fair value. the fair value 1$ estimated by usln8 a valuation te¢hnique. 2 Inwme from don#tlons and ley¢l¢¥ UDrMtrlet¢d nds GenerAI Totsl ruDdg Dona¢ions and le8acies' Donlon$ from individuals Total for 2025 3 Exptndlture on charltable aetlvltles Unr¢strlcted funds GeDer*l Total funds Note GoYernan¢e costs 97 Page 10
Centrnl Park Hub Note8 to the FinAnclal Statements for the Year Ended 6 April 2025 (eontinued) L¢gal fee$ Other8ovanan¢e cost8 Total for 2025 Not Inwmtri8/outgotn8 resources forthe Ye in¢luda: Pggell
CeDITal Park Hub Nots¥ to the Flnan¢iaJ Ststements for th¢ Year Ended 6 Aprfl 2025 (continued) 2025 6 Trn$te¢ reMuo¢rntloD •nd ex5 7 T•xatlon The ¢harity is a re8iSter&l ¢lwity and is therefore ex¢mM from Mwion. C and emb ¢qufvalents 202S Cash at bank 69 9 FuDdi nee•t7 Aprll 2024 BhTr •t 6 Aprll 2023 expended Uttre41rl¢tsd funds 68 10 Anlygts orne¢ between 11 Reknted prty trADsae¢kn Page 12
Central Park Hub stst¢m¢nt of FIDan¢ial Activities by fund for the Year Ended 6 April 2025 Totsl Unrestrfrted Funds 2025 Ineome and Endowments from: Don4tILm and legacies Totsl income Expendithre on: Charitable activities Totsl expendityre Net income Net movement in fund5 23.875 Reeon¢ili4¢lon of fuDds Total fijnds brought forward Total funds Carried fonwd 69 68 This page does nol forn] part of the statutory fllwKial statements. Page 13
C¢ntral Park Hub Detalled Ststement of Financlal A¢tivitie5 for tbe Year Ended 6 April 2025 Totsl 2025 Ineome and Endowmellts from: Donations and legacies (3nalys¢d below) Total income Expendlturt Charitsble activities (analysed below) Total expenditure Net irtMe Net mov¢rnent An fimds 23,875 Re¢ott¢lllatloD orrunds Total funts brought fonv8rd Total fimts carried forward This ge does not form part of the thtutory fmon¢ial ststements. Page 14